Company number: 07222275 Charity number: 1136727 


## **Clore Social Leadership Programme** 

## **Report and Financial Statements 31 December 2021** 

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## **Trustees’ Report** 

## For the year ended 31 December 2021 

|**Company number**|07222275<br>**Charity number**<br>1136727|07222275<br>**Charity number**<br>1136727|
|---|---|---|
|**Registered office**|7 Bell Yard||
|**& operational**|London||
|**address**|WC2A 2JR||
|**Trustees**|Trustees, who are also|directors under company law, who served during the|
||year and up to the date of this report, were as follows:||
||Sir Ciarán Devane|Chair|
||Patrick Stevens|Chair of Audit and Risk Committee|
||Tina Alexandrou||
||Mark Fisher CBE||
||Vyla Rollins||
||Nicola Kidston|Appointed February 2021|
||Deborah Smart|Appointed February 2021|
||John O’Brien|Appointed February 2021|
||Alison Collins|Appointed February 2021, Resigned November 2021|
||Neeha Khurana|Resigned October 2021|
||Dominic Houlder|Resigned by rotation October 2021|
||Charles Good|Resigned by rotation October 2021|
||Arabella Duffield|Resigned by rotation February 2021|
||David Harrel|Resigned by rotation February 2021|
||Anna Southall|Resigned by rotation February 2021|
|**Management Team**|Shaks Ghosh CBE|Chief Executive (retired June 2022)|
||Nadia Alomar|Chief Executive (appointed July 2022),|
|||Director of Development (July 2021 to July 2022)|
|||Director of Marking and External Affairs (until July 2021)|
||Angharad Irvine|Director of Leadership Programmes|
||Emmet Giltrap|Director of Marketing & Communications|
|||(appointed July 2021)|
||Stephen Pugsley|Director of Finance & Operations|
|||(appointed March 2022)|
||Wendy Leyland|Director of Operations (resigned April 2022)|
||Ralph La Fontaine|Director of Digital Learning (resigned April 2022)|
|||(appointed April 2021)|
||Louise Drake|Managing Director of National Development Unit|
|||(resigned March 2021)|
|**Bankers**|The Co-operative Bank<br>HSBC BANK PLC||
||P.O. Box 250|1stFloor, North London Business Banking Centre|
||Delf House|1 Old Street|
||Skelmersdale|London|
||WN8 6WT|EC1V 9HL|
|**Solicitors**|Kings & Wood||
||Mallesons LLP||
||10 Queen Street Place||
||London||
|**Auditors**|Moore Kingston Smith|LLP|
||Chartered Accountants||
||9 Appold Street||
||London, EC2A 2AP||



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## **Trustees’ Report** 

The trustees present their report and the audited financial statements for the year ended 31 December 2021. 

The organisation is a charitable company limited by guarantee, incorporated on 13 April 2010 and registered as a charity on 5 July 2010. 

Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities: SORP applicable to charities preparing their financial statements in accordance with FRS 102. 

## **Background** 

The Clore Social Leadership Programme (Clore Social Leadership) was set up in October 2008 as an initiative of the Clore Duffield Foundation. Its purpose is to identify, connect and develop aspiring leaders in the social sector. The board of trustees was recruited in 2009, with the Clore Social Leadership Programme registered as a company limited by guarantee in April 2010 and its charitable status recognised in July 2010. This trustees’ report covers the eleventh full financial year as an independent charity. 

## **Objectives and activities** 

The Articles of Association of the Clore Social Leadership Programme state that the charity promotes and supports the education, development and training of actual and potential leaders of social sector organisations. The definition of what is meant by ‘social sector’ is summarised in the Articles as those organised to provide, promote or secure social goods for beneficiary groups such as charities, community organisations, social enterprises and housing associations. The trustees review the aims, objectives and activities of the charity each year.  This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees review the success of each key activity and the benefits the charity has brought to those groups of people that it is established to help. The review also helps the trustees ensure the charity’s aims, objectives and activities remain focused on its stated purposes. 

## **Purpose and aims** 

Clore Social Leadership seeks to identify, connect and develop aspiring leaders with a social purpose who are working for the benefit of individuals and communities across the UK. This is achieved through the following strategic objectives: 

## Skills and development programmes 

- Growing and extending our programmes to reach as many social sector leaders as possible 

- Impacting positively on individuals, organisations and communities through our programmes 

- ● Supporting committed, values-based and reflective aspiring and established leaders and tracking the outcomes and impact they achieve in their leadership roles following their participation in our programmes 

## _Sustainability_ 

- Securing sustainable income through a successful fundraising strategy and continual diversification of income streams and models, including sources of earned income 

- Being highly effective in our own governance, leadership, delivery and outcomes 

- Working in line with the charity’s values, while continually evaluating and improving our programmes, including market-testing their relevance and capacity to add value 

## _Sectoral collaboration_ 

- Maintaining a strong UK-wide perspective and building social sector connections across devolved administrations, maintaining close contact with ministers, civil servants and key politicians 

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- Enabling a strong network of social purpose organisations and leaders across the UK through online and in-person engagement 

- Acting as a facilitator for effective and generous leadership across the social sector 

## _Learning and dissemination_ 

- Sharing learning about leadership development for the social sector, including our evaluation findings, and raising the profile of leadership as key to strengthening sector capacity 

- Disseminating our findings and reports via the Clore Social Leadership website, linking to relevant partners 

- Utilising an effective communications strategy including online and wider media profile, social media engagement, publishing articles, contributing to events and speaking engagements 

## **Public benefit** 

Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission, including their guidance in PB2 (Public Benefit: Running a Charity). 

The Clore Social Leadership Fellows contribute directly to public benefit with positive outcomes for individuals and their communities through their activities while on the leadership development programmes and in their subsequent leadership of social purpose organisations and partnerships. Clore Social Leadership shares all its learning about effective social leadership widely so as many people as possible can benefit and improve outcomes for beneficiaries. 

## **Trustees** 

Four trustees were appointed in February 2021 – Nicola Kidston, Deborah Smart, Alison Collins and John O’Brien. 

Five trustees resigned in 2021, after having served their maximum allowable term limits of nine years – Arabella Duffield, David Harrel, Anna Southall, Dominic Houlder and Charles Good. We wish to thank them all for their tremendous service as long-standing trustees. Alison Collins and Neeha Khurana also stood down as trustees during the year and we wish to thank them for their contribution during their time as trustees. 

Appendix I provides full biographies of the current board of trustees. 

Trustees are recruited on the recommendation of the Nominations Committee, who conduct an ongoing and comprehensive review of the skills present in the board and its ideal composition. 

## **Staff** 

Nadia Alomar, previously our Director of Development, was appointed as Interim CEO in July 2022 following the retirement of Shaks Ghosh CBE, our previous CEO. 

Appointed as the charity’s Chief Executive in July 2015, Shaks came to Clore Social Leadership with extensive experience of leadership in the social sector, having previously been Chief Executive of Crisis and the Private Equity Foundation. 

We would like to thank Shaks for her contribution to the organisation over the past seven years and also we welcome Nadia as our new CEO. 

The management team also includes: Angharad Irvine, Director of Leadership Programmes; Emmet Giltrap, Director of Marketing & Communications; Wendy Leyland (retired in April 2022), Director of Operations; Stephen Pugsley (joined in March 2022), Director of Finance and Operations; Ralph La Fontaine (resigned in April 2022), Director of Digital Learning. 

Appendix II provides full details of the current SMT team as of August 2022. 

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Remuneration for staff is set by the Chief Executive, who has responsibility for ensuring the overall salary budget for any year is not exceeded. Remuneration for the Chief Executive is agreed by the board of trustees. Salaries are reviewed on an annual basis, with periodic market review of salary levels at equivalent size charities. 

## **Activities in 2021** 

As many organisations experienced, our plans for the year changed dramatically in response to the impact of Covid-19 and the restrictions resulting from the various lockdowns. If we learned anything during the pandemic, it is that generous, resilient leadership has become more necessary, and also more difficult to achieve than ever before. However, the move to online delivery has made leadership development both more accessible and affordable. This has enabled us to reach an everincreasing number of leaders. 

Clore Social Leadership invested in new digital platforms across both 2020 and 2021 to further increase accessibility, improve processes and enable expansion in the programmes being offered. We expect the demand for leadership development to continue through 2022 and beyond, by adopting a new hybrid model, utilising virtual and physical platforms. 

## **Programmes and courses** 

In 2021 we saw the largest ever number of participants on our programmes and courses, 1,160, an increase of 39% from the previous year (835 in 2020). 

We redesigned our flagship programmes to enable digital delivery, with overwhelmingly positive feedback. Digital delivery enabled participants to receive more leadership content than had previously been the case with the original programmes, due to the decreased cost and increased accessibility of digital learning. 

Continuing our digital first strategy and in keeping with our mission to make leadership development more affordable and accessible, we launched a new portfolio of short digital courses in the Autumn of 2021. These courses were developed with subject matter experts across the sector. They were designed to address specific needs in the sector such as: 

- Developing a diversity, equity and inclusion strategy 

- Stepping into management 

- Leading remote teams 

- Digital leadership 

- Change management and resilience 

We continued to focus on scaling our pathfinder ‘Discover’ project, exploring business-to-business opportunities as well as using it as a template to create other short courses, such as the ones mentioned above. 

## **Digital platforms and systems** 

We moved to new platforms and systems to better support and scale our digital first approach – online courses and modules were created or recreated in GoMo Learning, contact data was transferred across into YourMembership software and we launched our networking platform, Shared Purpose. 

Shared Purpose acts as an online space for social leaders to connect, collaborate and grow. We have always believed that the most powerful elements of our programmes are those that foster peer learning and support, so this is a natural evolution for Clore Social Leadership, particularly during times of distance and isolation. Peer learning and networks are vital for people coming out of the 

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pandemic and this will be a space where leaders can collaborate and support each other in the challenges they face. 

## **Audiences** 

2021 also saw us diversify our audience, spurred by the introduction of bite-size learning products and short courses as well as programmes aimed at lived experience leaders and international audiences. It also saw us work in partnership with a number of organisations, including Centre for Knowledge Equity, London Youth, The British Council and the Wales Co-Operative Centre. 

## **Double Lockdown** 

We started the year with the launch of Double Lockdown, a programme for those with lived experience of the Criminal Justice system that was designed in partnership with The Centre for Knowledge Equity. The programme saw us work with over 100 leaders from across the UK and reach our ambitious diversity and inclusion targets: 

**Double Lockdown Participant Metrics:** 

|**Double Lockdown Participant Metrics:**||
|---|---|
|||
|**Gender split**:|50:50|
|**% of BAME participants**:|37%|
|**Regions**:|80% Outside Greater London|
||20% from the North East|
||1.9% from Scotland|
||6.6% from Wales|
|**% Small Organisations (under £1m)**:|55%|



_“This has come at the right time in my journey. I really enjoyed learning about the different leadership styles and am definitely going to be using them and mindful of my style. It was also really inspiring seeing so many lived experience leaders across the nation with the same ideology and passion!”_ – Double Lockdown participant 

_“Engaging with others with lived experience of the criminal justice system has been meaningful.”_ – Double Lockdown participant 

_“Every week is building on what I never knew I needed to learn and hone. It is great to have such indepth explanations delivered in a relatable way, it makes sense and is definitely making me look more closely at my practise and use some of the skills I have learnt!”_ – Double Lockdown participant 

## **Leadership for Gender Equality** 

At the start of the year, we also launched ‘Leadership For Gender Equality’, a partnership programme with The British Council aimed at those working in the field of gender equality which saw us work with leaders from across South Asia, Middle East and North Africa, and East Africa. The programme placed a strong emphasis on networking and peer learning, and regional facilitators were recruited and trained to support and guide participants through the programme and encourage participant engagement and connectivity through Shared Purpose. 

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The programme built on our pilot programme with the British Council in 2020 and enabled us to strengthen our partnership, design and develop our train-the-trainer approach, and create a bespoke online business-to-business product which could be released in the future to further audiences across the British Council network, and beyond. 

_“This course has helped me to reflect my life journey in order to reflect my fears, strengths and move forward with confident, more strategies to find the better person in me to serve towards gender equality and courage.” – Leadership For Gender Equality participant_ 

_“This has been a very interesting course where I got to meet many like-minded people who want to work in the area of gender equality. This course through its interactive sessions has made us reflect and recognise our own strengths by making us share our varied experiences. It has beautifully brought together people from various regions and varied professional backgrounds and connected us all together by our shared purpose!” – Leadership For Gender Equality participant_ 

## **Re-Imagining Health** 

Other new audiences that we supported in 2021 included those working in the field of Social Prescribing. Our ‘Re-Imagining Health’ programme aimed to strengthen collaboration between the Third Sector, Local Authority and NHS and brought together participants from the social sector, local authorities and Primary Health partnerships. At programme end 75% indicated that their confidence had increased and 100% felt better equipped as leaders. 

## **Rise Up** 

We also acted as a delivery partner to the Rise Up Youth Practitioners’ Leadership Programme, working alongside London Youth to deliver coaching to 100 frontline youth practitioners. 

## **Leading Beyond Borders** 

Leading Beyond Borders was an additional partnership programme that we embarked on in 2021. It was our second large-scale leadership development programme (and first of its kind) for the Migration & Refugee sector. The programme was run in partnership with The Centre for Knowledge Equity (CfKE) and consisted of guided programmes for emerging and experienced leaders, those with both lived and non-lived experience. The hybrid programme was tailored to those working in the Migration & Refugee sector and included a special speaker series, monthly knowledge exchanges and a residential component. By bringing lived and non-lived experience leaders together the programme aimed to aid collaboration and understanding among those working in the sector, as well develop a shared understanding around the skills and capabilities needed to cope with, respond to and lead through the pressures and challenges that the UK’s migrant and refugee communities’ face. 

_“I found everything from beginning to end useful. I found the self-awareness tools great (360); I loved the feedback session – how to give & receive, and I found the wellbeing module really helpful. Action learning was great as it made me realise, I wasn’t the only one experiencing these challenges and also it put my challenges into perspective sometimes. The CfKE sessions were brilliant I found them a safe space. I liked the leadership talks and the one by Luljeta Nuzi was so inspiring I’ve watched it three times!”_ – Emerging Leader participant 

_“Through a mix of different components (Discover programme, lumina spark, coaching, ALS), I have been able to make changes to how I lead. Primarily, this has meant stepping back more from the day-to-day of the organisation, allowing me to step back and focus on other priorities. Being able to do this programme with people from the same sector has been so important (shared context and_ 

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_understanding), and the creation of a network of peers was brilliant, and will continue to be beneficial going forward, I’m sure.”_ – Experienced Leader participant 

## **Social Leaders Cymru** 

Our final partnership programme in 2021 was Social Leaders Cymru – our largest place-based programme aimed at social leaders across Wales and delivered in partnership with Cwmpas (previously The Wales Co-Operative Centre). We marked the launch of the programme with a very successful online event, hosted by Sian Lloyd and attended by the First Minister of Wales, Mark Drakeford, as well as a fantastic panel of social leaders from across Wales. The programme, which continued into 2022 and consisted of six separate working streams, saw us work across a range of leadership audiences including New Managers and Board Leaders. 

_“It was not textbook teaching; love the interaction with members; discovering myself through the process of the session; identified my strengths and weaknesses; valuable advice from [the facilitators], and great contributions from others; most importantly – everyone was so honest and openly discussed issues and good practices, I don't feel alone and have learned loads from the others.”_ – Social Leaders Cymru participant 

_“Have found this course of enormous benefit and feel I can now lead the development / implementation / review of an organisational digital strategy. I certainly do not think I would feel confident in saying this without doing the course. I have learnt a lot over the 5 weeks.”_ - Social Leaders Cymru participant 

## **Emerging and Experienced Leader** 

In addition to the above we also continued to run open (commercial) programmes for Emerging and Experienced Leaders, as well as dedicated Emerging Leader programmes aimed at those working for armed forces charities and Bank of America grantees. 

_“I’ve learned to step back as a leader and trust others, focussing on my leadership style to empower them.”_ – Emerging Leader Open participant 

_“This course has influenced every aspect of my life – not something I was expecting but glad it has!”_ – Emerging Leader Bank of America participant 

_“I had to develop my first organisational strategy this year and couldn’t have done this without channelling the approaches learned about on this course” –_ Emerging Leader Open participant 

**We would like to extend our deepest gratitude to our many funders who have enabled us to adapt so well to our changing world. This work was only made possible thanks to your continued support.** 


## **Achievements and performance – Key Performance Indicators (KPIs)** 

To monitor and evaluate our ambition to grow and extend our learning programmes to reach as many social sector leaders as possible, two important KPIs are the number of leaders reached and the impact the programmes have on these leaders. 

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## 1. Number of Leaders Reached 

|1.<br>Number of Leaders Reached|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||
|||2016||2017||2018||2019||2020||2021|
||||||||||||||
|**Total Reach:**||**173**||**243**||**543**||**453**||**835**||**1160**|
||||||||||||||
||||||||||||||
|**% increase**||||**40%**||**123%**|**(17%)**|||**84%**||**39%**|
||||||||||||||



## 2. Programme Impact 

Our unique approach is proven to work and has consistently delivered impact within the social sector. We measure our programmes’ overall impact annually by asking participants how strongly they agree with a series of impact statements on a scale of 1 to 10. In 2021, our annual survey showed the average score as of 8 out of 10 based on the following statements: 

|**Statement**||||
|---|---|---|---|
||**Average**<br>**Score**<br>**2019**|**Average**<br>**Score**<br>**2020**|**Average**<br>**Score**<br>**2021**|
|||||
|My experience with the Clore Social Leadership programme<br>has made me a better leader.||||
||**8.6**|**8.6**|**8.4**|
|||||
|My experience with the Clore Social Leadership programme<br>has provided me with great networks.||||
||**8.4**|**7.4**|**7.2**|
|||||
|My experience with the Clore Social Leadership programme<br>has empowered me to grow leadership in others.||||
||**8.0**|**8.2**|**8.2**|
|||||
|My experience with the Clore Social Leadership programme<br>has enabled greater collaboration in my work.||||
||**7.7**|**7.7**|**7.7**|
|||||
|My experience with the Clore Social Leadership programme<br>has made me personally more resilient.||||
||**8.0**|**8.2**|**7.5**|
|||||
|My experience with the Clore Social Leadership programme<br>has encouraged me to think more deeply about leadership.||||
||**9.0**|**9.1**|**8.8**|
|||||
|My experience with the Clore Social Leadership programme<br>has enhanced my contribution to my organisation(s).||||
||**8.3**|**8.6**|**8.9**|
|||||
|My experience with the Clore Social Leadership programme<br>has increased my ability to have an impact upon the<br>communities I serve.||||
||**8.2**|**7.9**|**8.2**|
|||||



Clore Social Leadership seeks to meet a widely recognised lack of opportunities for social sector leaders to access the leadership development opportunities available in the private and the public sectors. 

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## **Financial review** 

The financial statements cover the eleventh full financial year that the charity was independently operational. 

The impact of Covid-19 has been considered on the charity’s future plans and budgeting processes and the effect of recurring lockdown restrictions remained a significant risk during the financial year **.** 

## **Income** 

Clore Social Leadership receives restricted grant funding from numerous foundations, trusts and corporate sponsors. The largest grant in 2021 was £200,000 for our Leading Beyond Borders Programme a joint initiative supported by Global Dialogue and funded by Paul Hamlyn Foundation, Barrow Cadbury Trust, Esmée Fairbairn Foundation, Joseph Rowntree Charitable Trust, Unbound Philanthropy, Social Change Initiative, Lloyds Bank Foundation, Metropolitan Migration Foundation and A. B. Charitable Trust. 

We also received £100,000 from Good Opportunities Trust and £75,000 from Clore Duffield for our Digital Transformation initiative. Other grants include £67,000 from The Garfield Weston Foundation as part of a large multi-year grant (£210,000) for the period of 2019-2021 and £30,000 from the Moondance Foundation as part of the Social Leaders Cymru Programme, and £50,000 from The National Lottery Community Fund (formerly, The Big Lottery Fund) for the Leadership Lighthouses Programme. 

Total income was £882,098 for the year. This is a reduction of just under 19%, from 2020 £1,086,487, though in line with our expectations given the challenging operational climate created by the pandemic. Within this figure, the major factors were the reduction in unrestricted donations of £113,313 in addition to the completion of a number of restricted funded projects with the consequent tapering down of funding on those projects, e.g., Digital Infrastructure £75,000 and National Development Unit £90,565. However, this was partially offset by a £115,760 increase in restricted funding for the expansion of our place-based programmes from £111,240 in 2020 to £227,000 in 2021. 

Trustees are very grateful to the funders who committed to the fellowship programme in its early days – in particular Clore Duffield Foundation, who took the initiative to start the fellowship programme and since 2017, have provided support for our digital transformation initiative. Thanks also to the Paul Hamlyn Foundation for the unrestricted grant funding to help cover core costs over the five-year period from 2018-2022, awarded through their Backbone Fund grant initiative. 

Trustees wish to thank all of our funders in 2021: 

The National Lottery Community Fund Unbound Philanthropy Good Opportunities Trust Social Change Initiative Comic Relief Lloyds Bank Foundation Clore Duffield Foundation Metropolitan Migration Foundation Garfield Weston Foundation A. B. Charitable Trust Paul Hamlyn Foundation Moondance Foundation Barrow Cadbury Trust Joseph Rowntree Charitable Trust Esmée Fairbairn Foundation _With the support of Global Dialogue_ 

Reports are made to donors each year updating them on the progress of the programme and the contribution their funding has made to enable this. 

## **Expenditure** 

Total spending for the year was £1,125,569. This is an increase of 14.5% from the previous year’s expenditure of £982,965. This is partly due to delays in being able to run some of our restricted funded place-based programmes in 2020 due to Covid-19, which we were subsequently able to deliver in 2021. It is also due to an increase in digital and online expenditure costs as part of the development of this area of our activities as noted above. 

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## **Movement of Funds** 

Restricted funds at the year-end 2021 are £319,990 (£362,819 in 2020) a reduction of £42,829 primarily due to the delivery of social leadership programmes held over from 2021, the corresponding balance of restricted funds being held as restricted reserves in 2020 to fund this activity during 2021. 

Unrestricted reserves were also lower this year £562,057 (£762,699 in 2020) a reduction of £200,642. The strategic decision to create new digital platforms, digital courses and online delivery for a greater number of courses, required an element of unrestricted funding to be allocated for the completion of this project in conjunction with the restricted funds received for this purpose. The unrestricted expenditure in 2021 on digital and online programmes was £185,224 slightly in excess of the reduction in unrestricted funds. The project now complete, we do not anticipate a commitment of unrestricted funds on this activity in future years. 

## **Reserves** 

Trustees have a policy of holding a free reserve of at least £275,000 to cover three months of core operational expenditure (staff and office costs). This was met across 2021, with unrestricted general reserves excluding reserves tied up in fixed assets of £558,403 as at 31 December 2021 **.** 

Our level of reserves will be particularly important as we continue to manage the negative effects of Covid-19 on our core business of providing guided, face-to-face learning programmes. Increased emphasis has been placed on further developing our role as facilitator, thought leader and digital provider of leadership development in the social sector, as explained in the section below, _Plans for 2022_ . 

## **Structure, governance and management** 

The Clore Social Leadership Programme, as a company limited by guarantee, is governed by a Memorandum and Articles of Association, last updated on 1 March 2017. Trustees are recruited by the agreement of the board of trustees. Appointed trustees are provided with a background briefing about their responsibilities and the objectives, operations, governance, funding and achievements of the charity. All trustees are encouraged to take up relevant training, briefings and conferences. 

Trustees regularly review the progress of the charity and its funding. The Audit and Risk Committee reviews the risks, controls and financial management of the charity. Trustees are responsible for setting the strategy for Clore Social Leadership and securing both the public benefit delivered through its outcomes and impact, and the sustainability of the charity. The trustees are responsible for the appointment of the Chief Executive. 

## **Major risks and uncertainties** 

The major risks to the charity have been identified in a comprehensive risk register and the management of these is monitored by the Audit and Risk Committee bi-monthly basis. This register is also reviewed by all trustees as part of the board papers with each board meeting. 

The four risks categories identified with the highest scores (both Impact and Likelihood deemed Medium to High) are as follows: 

- 1) The future loss of funders and a resultant shortfall in funding to run our programmes 

- 2) Sector attitudes to executive education 

- 3) Alternative leadership development opportunities for the social sector (competition) 4) The effects of Covid-19 on face-to-face learning 

These risks have been mitigated through the following actions: 

- 1) Funding pipeline research and diversification of income streams 

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- 2) The introduction of a robust marketing and communications plan and strategy 

- 3) Continued advocacy of our programmes at the sector level and engagement with sector bodies such as NCVO and WCVA 

- 4) The development of multiple online courses as well as an online platform (Shared Purpose) acting as a network for incentivising positive change and peer learning. 

## **Plans for 2022** 

As the sector moves forward toward post-pandemic recovery, generous and resilient leadership will be more needed than ever. With this in mind, our plans for 2022 and beyond are as follows: 

- To encourage diversity in leadership. Clore Social Leadership will intensify its focus on this area and build on work with lived experience leaders as part of Leadership Lighthouses, a national initiative that aims to develop leaders from black and minoritised communities. We have just completed research in collaboration with The Ubele Initiative which gives context to and sets out the needs and aspirations of Black and minoritised ethnic communities in terms of leadership development. We will also build on our work with lived experience leaders in the Migration and Refugee sector, Criminal Justice sector, and the Women and Girls sector. 

- To put renewed focus on local communities and regions via place-based skills and development programmes. 

- To expand awareness of leadership development in the social sector, and to strengthen networks within the third sector that incentivise positive change and encourage peer learning. 

- To increase accessibility of leadership development by continuing to develop a series of lowcost and flexible online courses and modules. 

## **Statement of trustee responsibilities** 

The trustees (who are also directors of the Clore Social Leadership Programme for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK GAAP). 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources including the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to: 

- Select suitable accounting policies and then apply them consistently 

- Observe the methods and principles in the Charities SORP 

- Make judgments and estimates that are reasonable and prudent 

- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- There is no relevant audit information of which the charitable company’s auditors are unaware 

- The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information 

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The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

## **Auditors** 

Moore Kingston Smith were re-appointed as the charitable company’s auditors during the period and have expressed their willingness to continue in that capacity. 

The report of the trustees has been prepared in accordance with the special provisions applicable to companies, subject to the small companies’ regime. 

Approved by the Trustees on 26th September 2022 and signed on their behalf by 


Sir Ciarán Devane – Chair, Board of Trustees 

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## INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE CLORE SOCIAL LEADERSHIP PROGRAMME 

## **Opinion** 

We have audited the financial statements of The Clore Social Leadership Programme (‘the company’for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Ireland’ (United Kingdom Generally Accepted Accounting Practice). 

## In our opinion the financial statements: 

• give a true and fair view of the state of the charitable company’s affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of financial statements section of our report. We are independent of the Corporation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with 

14 




## INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE CLORE SOCIAL LEADERSHIP PROGRAMME 

the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

• the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

• the trustees’ annual report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees’ Annual Report and from preparing a Strategic Report. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

15 




## INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE CLORE SOCIAL LEADERSHIP PROGRAMME 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 

16 




## INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE CLORE SOCIAL LEADERSHIP PROGRAMME 

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. 

Our approach was as follows: 

• We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation. 

• We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. 

• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. 

• We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. 

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion . 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


James Saunders (Senior Statutory Auditor) 

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 

9 Appold Street London EC2A 2AP Date: 28th September 2022 

17 




## **Appendix I: Trustee Biographies** 

We take good governance seriously, and our board of trustees is the backbone of this. Our trustees come from across a wide range of sectors and have taken diverse career paths. This is a wealth of experience and expertise that makes for a strong Clore Social Leadership board. 

## **Sir Ciarán Devane** 

Sir Ciarán Devane is the Chair of the Irish health service (the HSE), the Director of the Centre for Trust, Peace, and Social Relations at Coventry University and a trustee of Friends of Europe and of the British-Irish Association. A chemical engineer by training, Ciarán had a twenty year career in industry and management consulting before becoming chief executive of Macmillan Cancer Support and subsequently chief executive of the British Council. He has served on the Board of NHS England, and of Social Finance Limited. In 2015 he was knighted for services to cancer patients. 

## **Patrick Stevens** 

Patrick Stevens trained as a Chartered Accountant in Norfolk, his original home. After that he spent his career as an accountant in practice in London. For the last 17 years he was a partner and a Managing Partner in Ernst and Young. On retiring from practice, he spent three years as Tax Policy Director at Chartered Institute of Taxation. Since then, he has taken on various voluntary roles. These include being Trustee and Treasurer of Sussex Community Foundation, Resolution Foundation and Rye Deanery in the Diocese of Chichester. 

## **Tina Alexandrou** 

Tina Alexandrou is a Trustee of the Resolution Trust and the Resolution Foundation, a social policy and research organisation whose goal is to improve the living standards for the 15 million people in Britain on low and middle incomes; Tina has been with the Foundation since its formation in 2005. She has a particular interest in education and is the Vice Chair on the Ark School’s Board and is also Chair of Governors of an Ark Primary in White City, London. She is also a trustee of The Old Vic Theatre. Prior to her work in the third sector her career was spent in the insurance and banking industry both in the UK and internationally. 

## **Mark Fisher** 

Mark Fisher CBE FRSA is the Chief Executive of NHS Greater Manchester Integrated Care. Prior to this, Mark was Director General and Secretary to the Grenfell Tower Public Inquiry and the former Director of the Office for Civil Society and Innovation in the Cabinet Office, supporting the Government’s ambitions for volunteering, philanthropy and social investment; and for the general development of the voluntary and community sector. Mark was previously Social Justice Director in the DWP responsible for the Government’s agenda for the prevention of long-term welfare dependency, and before that Jobseekers and Skills Director in the DWP, responsible for the national regime for supporting unemployed people. Mark has been Chief Executive of the Sector Skills Development Agency and a Director of Working Links (Employment) Ltd. He is on the Council of Huddersfield University. 

## **Vyla L. Rollins** 

Vyla Rollins is an Organisational Psychologist who has worked as a global strategic Organisational Effectiveness consultant in the private, public, and voluntary sectors for over 30 years. She is currently the Executive Director of London Business School’s Leadership Institute. The Institute seeks to research and explore a myriad of issues related to leadership and leading, as well as discuss and challenge perceptions of leadership, present ideas about the future of leadership and their attributes. Vyla also designs and delivers on selected bespoke educational programmes delivered by LBS’s Executive Education Department, as well as coaching on a number of degree and customised Executive Education programmes at the School. She is also a Managing Director of Rubato Global Consulting Limited. 

18 




## **Nicola Kidston** 

Nicola is an senior social sector leader with over 20 years’ experience. She is committed to creating positive futures with young people and is energised by creating strong collaborative partnerships to innovate, scale and embed programmes to achieve national impact and has successfully achieved this in both education and youth sector settings. She is the Deputy CEO and Head of Programmes at Peer Power. She has held previous roles as Head of Programme (English as an Additional Language) at The Bell Foundation, developing digital and blended models to scaling training and resources for schools as well as providing thought leadership and sharing best practices. As Director of Development and Partnership at the Foyer Federation, she developed and scaled programmes with young people experiencing homelessness across the Foyer network. Prior to this she had a range of project management and youth justice roles at SOVA, Leeds Youth Offending Service and the ReachOut Project. She has been a Clore Social Leadership Fellow since 2016 and continues to connect to her peer group for learning and development. 

## **Deborah Smart** 

Deborah Smart is the former Director of Grants at the Social Investment Business, a role which saw her work closely with partners to develop and implement support programmes, meeting the needs of charities and social enterprises. She has overseen and delivered multiple funding programmes for multiple foundations as well as government bodies. Deborah started working in the social finance sector in 2005 at the Local Investment Fund and has been working in the funding/social investment sector ever since. She is passionate about empowering social sector organisations to be able to access and use different types of finance to enable them to better support their communities. Deborah was the 2015 Clore Social Leadership Social Finance Fellow. In her spare time, Deborah volunteers with a small Essex based broadcasting charity. 

## **John O’Brien** 

John O’Brien operates a mixed portfolio. This includes acting as part time EMEA Managing Partner at ONE HUNDRED, Omnicom’s ethical purpose consortium consisting of nine of Omnicom’s leading global agencies. John is also a bestselling business author and recognised campaigner with over thirty years’ experience leading initiatives covering over twenty countries. John is a senior advisor to business, high net-worth individuals, charities and governments on the interface between business and society, related strategies and communication. During the last ten years he has played a leading role in developing much of the language and thinking around ethical, sustainable purpose in the UK. He is a sought-after speaker and commentator on the subject. John’s professional background is varied, starting with a few early years in banking followed by a decade as a British Army Infantry officer, serving in theatres around the world, retiring as a Captain in 1994. His training and operational experience in creating clarity from complex, often chaotic and dangerous situations, acted as a key grounding for his future career and brings wide experience to bear for clients. 

19 




## **Appendix II: Senior Management Team Biographies** 

## **As of September 2022** 

## **Shaks Ghosh CBE – Chief Executive Retired June 2022** 

Shaks Ghosh was Chief Executive of Clore Social Leadership. She has a track record of service in the social sector, and has wide experience of policy, housing, homelessness and youth unemployment issues. Her early career was in local government and housing associations, and she has worked on projects for central Government, the private sector and the Indian NGO sector. Following 10 years as CEO of Crisis, she led the establishment of the Private Equity Foundation. She is passionate about social justice and is now focused on strengthening the voluntary sector. 

## **Nadia Alomar – Chief Executive from July 2022, formerly Director of Development** 

Nadia Alomar’s passion for social change has driven her 20-year career in the social sector. She has specialised in strategic communications and investor relations within national and global non-profit organisations, with exceptional results in strategic development, income generation and audience growth. Together with the team, Nadia is committed to breaking down leadership barriers to create an equitable and thriving social sector. 

## **Angharad Irvine – Director of Leadership Programmes** 

Angharad Irvine’s experience spans both the private and social sector and ranges from the design, facilitation and project management of training curricula, to creating Learning Management Systems and blended learning solutions on a global scale. She oversees the effectiveness, sustainability and quality of Clore Social Leadership programmes, ensuring they adequately reflect and support the leadership needs of the social sector. 

## **Emmet Giltrap – Director of Marketing and Communications** 

Emmet Giltrap heads up marketing and communications for Clore Social Leadership since July 2021. He is passionate about using customer data and insights to drive improvement, optimise user journeys and deliver results. Previously, Emmet worked at The King’s Fund, a leading independent health charity, where he was responsible for marketing their leadership and organisational development offer. With over 20 years’ experience, he has worked across a number of marketing and communications roles in the public and not-for-profit sectors at national, regional and local level. He is a member of the Chartered Institute of Marketing. 

## **Stephen Pugsley – Director of Finance and Operations** 

Stephen Pugsley has responsibility for the finance, IT, HR and board governance functions. He has over 30 years’ experience working in the not-for-profit sector in similar roles across a range of organisations including Victim Support, Media Trust, St Christopher's Fellowship and the Royal Society of Medicine, also as Treasurer of a youth charity. Stephen is passionate about working in the social sector and the impact it has in creating social change. 

20 



**The Clore Social Leadership Programme** 

**Statement of financial activities** (incorporating an income and expenditure account) 

## **For the year ended 31 December 2021** 

|**For theyear ended 31 December 2021**||||||||
|---|---|---|---|---|---|---|---|
|||||**2021**|||2020|
|||Unrestricted|Restricted|**Total**|Unrestricted|Restricted|Total|
||Note|£|£|**£**|£|£|£|
|**Income from:**||||||||
|Donations and legacies|2|48,252|-|**48,252**|161,565|-|161,565|
|Charitable activities|3|||||||
|Emerging leader programmes||37,400|360,470|**397,870**|28,450|392,727|421,177|
|Senior & experienced leader||-|39,950|**39,950**|-|59,057|59,057|
|Digital and online programmes||27,180|75,000|**102,180**|17,742|150,000|167,742|
|Place based programmes||-|227,000|**227,000**|-|111,240|111,240|
|NDU and Other Innovations||-|-|**-**|-|90,565|90,565|
|Other earned income||66,655|-|**66,655**|72,331|-|72,331|
|Investments||191|-|**191**|2,810|-|2,810|
|**Total income**||179,678|702,420|**882,098**|282,898|803,589|1,086,487|
|**Expenditure on:**||||||||
|Raising funds|4|40,189|-|**40,189**|35,524|-|35,524|
|Charitable activities|**4**|||||||
|Short courses & masterclasses||23,100|-|**23,100**|12,610|-|12,610|
|Emerging leader programmes||105,087|461,520|**566,607**|91,147|341,328|432,475|
|Senior & experienced leader||20,982|39,950|**60,932**|17,334|85,306|102,640|
|Digital and online programmes||185,224|79,693|**264,917**|85,219|152,867|238,086|
|Place based programmes||7,249|162,575|**169,824**|854|4,985|5,839|
|NDU and Other Innovations||-|-|**-**|14,409|141,382|155,791|
|**Total expenditure**|4|381,831|743,738|**1,125,569**|257,097|725,868|982,965|
|**Net income / (expenditure) for the year**|5|(202,153)|(41,318)|**(243,471)**|25,801|77,721|103,522|
|Transfers between funds||1,511|(    1,511)|**-**|(54,928)|54,928|-|
|**Net movement in funds**||(200,642)|(42,829)|**(243,471)**|(29,127)|132,649|103,522|
|**Reconciliation of funds:**||||||||
|Total funds brought forward||762,699|362,819|**1,125,518**|791,826|230,170|1,021,996|
|**Total funds carried forward**|15|562,057|319,990|**882,047**|762,699|362,819|1,125,518|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note15 to the financial statements. 

> The notes on pages 24 to 34 form part of these financial statements 

21 



**The Clore Social Leadership Programme** 

Company no. 07222275 

## **Balance sheet** 

## **As at 31 December 2021** 

|**As at 31 December 2021**|**As at 31 December 2021**||||
|---|---|---|---|---|
|Note<br>**£**<br>**Fixed assets:**<br>10<br>**Current assets:**<br>11<br>**81,620**<br>892,797<br>974,417<br>**Liabilities:**<br>12<br>**96,024**<br>14<br>15<br>**-**<br>Debtors<br>Restricted income funds<br>Unrestricted income funds:<br>Designated funds<br>**The funds of the charity:**<br>Creditors: amounts falling due within one year<br>**Net current assets / (liabilities)**<br>**Total net assets / (liabilities)**<br>Cash at bank and in hand<br>Tangible assets<br>General funds<br>Total unrestricted funds<br>**Total charity funds**<br>562,057||**2021**<br>**£**<br>**3,654**|£<br>111,975<br>1,186,327|2020<br>£<br>4,044|
|||**3,654**<br>878,393||4,044<br>1,121,474|
||974,417<br>**96,024**||1,298,302<br>176,828||
||**-**<br>562,057||-<br>762,699||
|||**882,047**||1,125,518|
|||319,990<br>562,057||362,819<br>762,699|
||||||
|||**882,047**||1,125,518|



The financial statements have been prepared in accordance with the special provisions of part vii of the Companies Act 2006 relating to small companies. 

Approved by the trustees on 26th September 2022         and signed on their behalf by 


Sir Ciarán Devane- Trustee 

The notes on pages 24 to 34 form part of these financial statements 

22 



**The Clore Social Leadership Programme** 

## **Statement of cash flows** 

## **For the year ended 31 December 2021** 

|Note<br>**Net income / (expenditure) for the reporting period**<br>Depreciation charges<br>Dividends, interest and rent from investments<br>(Increase)/decrease in debtors<br>Increase/(decrease) in creditors<br>**Net cash from/(used in) operating activities**<br>**Analysis of cash and cash equivalents**<br>Cash in hand and at bank<br>**Total cash and cash equivalents**<br>**Analysis of changes in net debt**<br>Cash in hand and at bank<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from investments<br>Purchase of fixed assets<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>**Change in cash and cash equivalents in the year**<br>**Net cash provided by / (used in) investing activities**|**£**<br>191<br>(3,201)|**£**<br>**(243,471)**<br>**3,591**<br>**(191)**<br>**30,355**<br>(80,805)<br>**2021**|£<br>2,810<br>(1,713)|£<br>103,522<br>5,195<br>(2,810)<br>(33,761)<br>(271,244)<br>**2020**|
|---|---|---|---|---|
|||(290,520)<br>(3,010)||(199,098)<br>1,097|
||||Cashflows<br>£<br>(293,530)||
|||(293,530)<br>1,186,327||(198,001)<br>1,384,328|
|||892,797||1,186,327|
|||**At 31**<br>**December**<br>**2021**<br>£<br>892,797||At 31<br>December<br>2020<br>**£**<br>1,186,327|
|||892,797||1,186,327|
|||At Start of<br>year<br>£<br>1,186,327||At end of<br>year<br>£<br>892,797|



23 



**The Clore Social Leadership Programme** 

**Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## **1 Accounting policies** 

## **a) Company information** 

Clore Social Leadership Programme is a charitable company limited by guarantee registered in England with registration number 07222275. Its registered office address is 7 Bell Yard, London WC2A 2JR. 

## **b) Basis of preparation** 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Update Bulletin 2, and the Charities Act 2011. The accounts are presented in GBP rounded to £1, which is the functional currency of the charity. 

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. 

## **c) Public benefit entity** 

The charitable company meets the definition of a public benefit entity under FRS 102. 

## **d) Going concern** 

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. In making this assessment the trustees have considered the impact of Covid 19 and, whilst some income lines are affected they are partly mitigated by anticipated costs savings. 

Annual budgets have been revised taking this into account with prudent figures for both income and expenditure. The charity holds significant reserves and has liquid assets in the form of cash held in short term deposits. 

For this reason the trustees continue to adopt the going concern basis in preparing the financial statements. 

## **e) Income** 

Income, including from Government and other grants, whether 'capital' or 'income', is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. 

Income for programmes spanning two or more accounting periods is allocated over the period to which it relates in order to more accurately recognise the performance conditions associated with this income. Income received in advance of delivery of a specified service is deferred until the criteria for income recognition is met. 

## **f) Donations of gifts, services and facilities** 

Donated professional services and donated facilities are recognised as income when the charity has control over the item or has received the service. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. 

24 



**The Clore Social Leadership Programme** 

**Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## **1 Accounting policies (continued)** 

## **g) Interest receivable** 

Interest on funds held on deposit is included when receivable. 

## **h) Fund accounting** 

Restricted funds are to be used for specific purposes as laid down by the donor.  Expenditure which meets these criteria is charged to the fund. 

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 

## **i) Expenditure and irrecoverable VAT** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. 

- Expenditure on charitable activities includes the costs of offering fellowships and delivering related services undertaken to further the purposes of the charity and their associated support costs. 

- � Other expenditure represents those items not falling into any other heading. 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## **j) Allocation of support costs** 

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity (support costs), comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity. 

|�|Fundraising|1%|
|---|---|---|
|�|Emerging leader programmes|52%|
|�|Senior and experienced leader|5%|
|�|Digital and online programmes|33%|
|�|Place based programmes|9%|
|�|NDU and Other innovations|0%|



Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure. 

Governance costs, which are considered a category of support costs, are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities. 

## **k) Tangible fixed assets** 

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. 

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: 

- Computer Equipment 

3 years 

25 



**The Clore Social Leadership Programme Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## **1 Accounting policies (continued)** 

## **l) Financial Instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **Financial assets** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Financial Liabilities** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **m) Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.  Cash balances exclude any funds held on behalf of service users. 

## **n) Pensions** 

The charity contributes towards the employees' personal pension schemes. The cost of the contribution is charged to the statement of financial activities on an accruals basis. 

## **o) Employee benefits** 

The costs of short-term employee benefits are recognised as a liability and an expense. 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **p)** Critical accounting estimates and judgements 

In the application of the company’s accounting policies, the charity is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the financial statements in a future period. 

26 



**The Clore Social Leadership Programme** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## **2 Income from donations** 

|Comic Relief<br>Gift aid claim<br>All income in 2020 was unrestricted<br>Furlough and other small grants and donations<br>Paul Hamlyn Foundation<br>Individual donations<br>Small grants and donations|Unrestricted<br>£<br>40,000<br>8,000<br>-<br>-<br>-<br>252|£<br>-<br>-<br>-<br>-<br>-<br>-<br>Restricted|2021<br>**Total**<br>**£**<br>**40,000**<br>**8,000**<br>**-**<br>**-**<br>**-**<br>**252**|2020<br>Total<br>£<br>60,000<br>32,000<br>25,000<br>25,000<br>19,565<br>-|
|---|---|---|---|---|
||48,252|-|**48,252**|161,565|
||||||



## 3 **Income from charitable activities** 

|Total income from charitable activities<br>Other earned income<br>Emerging leader programmes<br>NDU and Other Innovations<br>Place based programmes<br>Digital and online programmes<br>Senior & experienced leader<br>Total income|Unrestricted<br>£<br>37,400<br>-<br>27,180<br>-<br>-<br>66,655|£<br>360,470<br>39,950<br>75,000<br>227,000<br>-<br>-<br>Restricted|**2021**<br>**Total**<br>**£**<br>**397,870**<br>**39,950**<br>**102,180**<br>**227,000**<br>**-**<br>**66,655**|2020<br>Total<br>£<br>421,177<br>59,057<br>167,742<br>111,240<br>90,565<br>72,331|
|---|---|---|---|---|
||131,235|702,420|**833,655**|922,112|
||131,235|702,420|**833,655**|922,112|



Income in 2021 comprised of unrestricted income of £131,235 and restricted income of £702,420 

27 



**The Clore Social Leadership Programme** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## 4 **A** A **nalysis of expenditure** 

|Cost of<br>raising<br>funds<br>£<br>Staff costs (Note 8)<br>7,894<br>Programme development<br>-<br>Residential costs<br>-<br>Central tuition<br>-<br>Marketing, website and database<br>30,107<br>Other programme delivery costs<br>-<br>Bad debts<br>-<br>Leadership Chapters & Campaignin<br>-<br>Research & engagement<br>-<br>Events and meetings<br>-<br>Office costs<br>-<br>Legal & professional<br>-<br>Staff travel and other staff costs<br>-<br>Trustee recruitment and meetings<br>-<br>Rent and utilities<br>-<br>Depreciation<br>-<br>38,001<br>Support costs<br>2,188<br>Governance costs<br>-<br>**Total expenditure 2021**<br>**40,189**<br>Total expenditure 2020<br>35,524|Cost of<br>raising<br>funds<br>£<br>Staff costs (Note 8)<br>7,894<br>Programme development<br>-<br>Residential costs<br>-<br>Central tuition<br>-<br>Marketing, website and database<br>30,107<br>Other programme delivery costs<br>-<br>Bad debts<br>-<br>Leadership Chapters & Campaignin<br>-<br>Research & engagement<br>-<br>Events and meetings<br>-<br>Office costs<br>-<br>Legal & professional<br>-<br>Staff travel and other staff costs<br>-<br>Trustee recruitment and meetings<br>-<br>Rent and utilities<br>-<br>Depreciation<br>-<br>38,001<br>Support costs<br>2,188<br>Governance costs<br>-<br>**Total expenditure 2021**<br>**40,189**<br>Total expenditure 2020<br>35,524|Short courses<br>&<br>masterclasses<br>£<br>-<br>-<br>-<br>-<br>-<br>23,100<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|Emerging<br>leader<br>programmes<br>£<br>277,624<br>-<br>36,176<br>125,285<br>14,791<br>29,308<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|Senior &<br>experienced<br>leader<br>£<br>25,826<br>-<br>7,490<br>15,523<br>-<br>4,333<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|Digital and<br>online<br>programmes<br>£<br>179,205<br>26,587<br>-<br>-<br>3,010<br>2,119<br>-<br>-<br>-<br>-<br>148<br>-<br>-<br>-<br>-<br>-|Place based<br>programmes<br>£<br>47,578<br>-<br>5,172<br>92,886<br>-<br>9,891<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|NDU and<br>Other<br>innovations<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|Governance<br>costs<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>12,390<br>-<br>-<br>-<br>-|Support<br>costs<br>£<br>76,118<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>568<br>26,241<br>15,918<br>21,797<br>-<br>4,894<br>3,591|**2021 Total**<br>**£**<br>**614,245**<br>**26,587**<br>**48,838**<br>**233,694**<br>**47,908**<br>68,751<br>**-**<br>**-**<br>**-**<br>**568**<br>**26,389**<br>**28,308**<br>**21,797**<br>**-**<br>**4,894**<br>**3,591**|2020<br>Total<br>£<br>540,821<br>29,705<br>39,197<br>157,108<br>18,940<br>59,154<br>1,940<br>4,112<br>26,879<br>2,424<br>15,993<br>25,886<br>18,565<br>337<br>36,709<br>5,195|
|---|---|---|---|---|---|---|---|---|---|---|---|
||38,001<br>2,188<br>-|23,100<br>-<br>-|483,184<br>76,936<br>6,487|53,171<br>7,157<br>603|211,069<br>49,662<br>4,187|155,527<br>13,185<br>1,112|-<br>-<br>-|12,390<br>-<br>(12,390)|149,127<br>(149,127)<br>-|**1,125,569**<br>-<br>**-**|982,965<br>-<br>-|
||**40,189**|**23,100**|**566,607**|**60,932**|**264,917**|**169,824**|**-**|**-**|**-**|**1,125,569**|**982,965**|
||35,524|12,610|432,475|102,640|238,086|5,839|155,791|-|-|982,965||



Of the total expenditure, £381,831 was unrestricted (2020: £257,097) and £743,738 was restricted (2020: £725,868). 

28 



**The Clore Social Leadership Programme** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## 5 **Net incoming resources for the year** 

This is stated after charging / crediting: 

|This is stated after charging / crediting:|||
|---|---|---|
||**2021**|2020|
||**£**|£|
|Depreciation|**3,591**|5,195|
|Auditors' remuneration (excluding VAT):|||
|Audit|**12,390**|11,280|
|Trustees' expenses|**-**|337|



## 6 **Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel** 

Staff costs were as follows: 

|Employer’s contribution to defined contribution pension schemes<br>Salaries and wages<br>Social security costs|**2021**<br>**£**<br>**560,587**<br>**39,082**<br>14,576|2020<br>£<br>477,044<br>44,847<br>18,930|
|---|---|---|
||**614,245**|540,821|



The following number of employees received employee benefits (excluding employer pension costs) during the year in bandings of costs greater than £60,000: 

|||**2021**|2020|
|---|---|---|---|
|||**No.**|No.|
|£60,000|- £69,999|**-**|1|
|£90,000|- £99,999|**1**|-|



The total employee benefits including pension contributions of the key management personnel, made up of the Chief Executive Officer, the Director of Operations, the Director of Leadership Programmes, the Director of Shared Purpose and Marketing and External Relations, the Director of Programmes and Innovations, the Director of Digital Learning and the Director of Marketing and Communications, were £325,930 (2020:£245,090). 

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil).  No charity trustee received payment for professional or other services supplied to the charity (2020: £nil). 

During the year, trustee was reimbursed travel expenses of nil (2020: £337). 

29 



**The Clore Social Leadership Programme** 

**Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## 7 **Staff numbers** 

The average number of employees (head count based on number of staff employed) during the year was as follows: 

|Cost of raising funds<br>Senior & experienced leader<br>NDU and Other Innovations<br>Governance and support<br>Cost of raising funds<br>NDU and Other innovations<br>Senior & experienced leader<br>Place based programmes<br>Governance and support<br>The average weekly number of employees (full-time equivalent) during the<br>period was as follows:<br>Emerging leader programmes<br>Emerging leader programmes<br>Place based programmes<br>Digital and online programmes<br>Digital and online programmes|**2021**<br>**No.**<br>**0.2**<br>**6.3**<br>**0.6**<br>**4.1**<br>**1.1**<br>**-**<br>**1.7**|2020<br>No.<br>0.4<br>3.8<br>0.7<br>2.8<br>-<br>1.8<br>3.0|
|---|---|---|
||**14.0**|12.6|
||**2021**<br>**No.**<br>**0.2**<br>**6.7**<br>**0.6**<br>**4.3**<br>**1.2**<br>**-**<br>**1.9**|2020<br>No.<br>0.4<br>3.6<br>0.7<br>2.6<br>-<br>1.7<br>2.8|
||**14.9**|11.8|



## 8 **Related party transactions** 

The Clore Duffield Foundation provided grant funding in support of Digital and online programme, as disclosed in the financial statements and notes. 

In addition, Arabella Duffield, Trustee, is the daughter of Dame Vivien Duffield who is the Chair of the Clore Duffield Foundation and a Founding Member of the Clore Social Leadership Programme. On the 4th of February, Arabella stepped down as a trustee having reached the end of term as trustee. 

During the year, a trustee donated a total of £75,000 toward two programmes run by the Charity all of which was restricted. There are no other donations from related parties which are outside the normal course of business. 

There are no other related party transactions to disclose for 2021 (2020: none). 

30 



**The Clore Social Leadership Programme** 

**Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## 9 **Taxation** 

The charitable company is exempt from corporation tax to the extent that all its income is charitable and is applied for charitable purposes. 

## 10 **Tangible fixed assets** 

|All of the above assets are used for charitable purposes.<br>At the end of the year<br>At the end of the year<br>At the start of the year<br>Charge for the year<br>At the start of the year<br>Additions in year<br>**At the end of the year**<br>At the start of the year<br>**Cost**<br>**Depreciation**<br>**Net book value**<br>**Debtors**<br>Deferred income (note 14)<br>Trade creditors<br>Taxation and social security<br>Other creditors<br>Grant debtors<br>Other debtors<br>Prepayments and accrued income<br>**Creditors: amounts falling due within one year**<br>Accruals|Computer<br>equipment<br>£<br>21,526<br>3,201|**Total**<br>**£**<br>**21,526**<br>**3,201**|
|---|---|---|
||24,727|**24,727**|
||17,482<br>3,591|**17,482**<br>**3,591**|
||21,073|**21,073**|
||3,654|**3,654**|
||4,044|4,044|
||**2021**<br>**£**<br>**-**<br>**41,620**<br>**40,000**|2020<br>£<br>40,000<br>46,975<br>25,000|
||**81,620**|111,975|
||**2021**<br>**£**<br>**1,724**<br>**32,158**<br>**3,151**<br>**58,991**<br>**-**|2020<br>£<br>63,150<br>15,962<br>4,990<br>25,726<br>67,000|
||**96,024**|176,828|



## 11 **Debtors** 

12 **Creditors: amounts falling due within one year** 

31 



**The Clore Social Leadership Programme** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## 13 **Deferred income** 

Deferred income comprises income received during the year for future years. 

|Balance  at the beginning of the year<br>Amount released to income in the year<br>Amount deferred in the year<br>Balance at the end of the year<br>14<br>General<br>unrestricted<br>£<br>3,654<br>558,403<br>562,057<br>General<br>unrestricted<br>£<br>4,044<br>758,655<br>**762,699**<br>The above balance is comprised of the following programmes:<br> **Analysis of net assets between funds**<br>Tangible fixed assets<br>Net current assets<br>**Net assets at the end of the year**<br>Tangible fixed assets<br>Net current assets<br>**Net assets at the start of the year**<br>Emerging leader programmes<br>Balance at the end of the year|Balance  at the beginning of the year<br>Amount released to income in the year<br>Amount deferred in the year<br>Balance at the end of the year<br>14<br>General<br>unrestricted<br>£<br>3,654<br>558,403<br>562,057<br>General<br>unrestricted<br>£<br>4,044<br>758,655<br>**762,699**<br>The above balance is comprised of the following programmes:<br> **Analysis of net assets between funds**<br>Tangible fixed assets<br>Net current assets<br>**Net assets at the end of the year**<br>Tangible fixed assets<br>Net current assets<br>**Net assets at the start of the year**<br>Emerging leader programmes<br>Balance at the end of the year|£<br>-<br>-<br>Designated|**2021**<br>**£**<br>**67,000**<br>**(67,000)**<br>**-**|2020<br>£<br>348,597<br>(348,597)<br>67,000|
|---|---|---|---|---|
||||**-**|67,000|
||||**2021**<br>**£**<br>**-**|2020<br>£<br>67,000|
||||**-**|67,000|
||||Restricted<br>£<br>-<br>319,990|**Total funds**<br>**2021**<br>**£**<br>**3,654**<br>878,393|
||562,057||319,990|**882,047**|
||General<br>unrestricted<br>£<br>4,044<br>758,655|£<br>-<br>-<br>Designated|Restricted<br>£<br>-<br>362,819|**Total funds**<br>**2020**<br>**£**<br>**4,044**<br>**1,121,474**|
||**762,699**|**-**|**362,819**|**1,125,518**|



32 



**The Clore Social Leadership Programme** 

**Notes to the financial statements** 

## **For the year ended 31 December 2021** 

|15<br>2015 Fellowships<br>2016 Fellowships<br>**Total restricted funds**<br>**General funds**<br>15<br>2015 Fellowships<br>2016 Fellowships<br>**Total restricted funds**<br>**General funds**<br>Digital and online programmes<br>Place based programmes<br>Emerging leader programmes<br>Emerging leader programmes<br>**Unrestricted funds:**<br>Senior & experienced leader<br>Digital and online programmes<br>Place based programmes<br>NDU and Other Innovations<br>**Total funds**<br>**Total unrestricted funds**<br>**Movements in funds**<br>**Total funds**<br>**Total unrestricted funds**<br>**Restricted funds:**<br>**Unrestricted funds:**<br>**Movements in funds**<br>**Restricted funds:**<br>Senior & experienced leader<br>NDU and Other Innovations|At 1<br>January<br>2021<br>£<br>4,926<br>7,469<br>192,231<br>47,245<br>4,693<br>106,255<br>-|Incoming<br>resources &<br>gains<br>£<br>-<br>-<br>360,470<br>39,950<br>75,000<br>227,000<br>-|Outgoing<br>resources &<br>losses<br>£<br>(449,125)<br>(39,950)<br>(79,693)<br>(162,575)<br>-<br>(4,926)<br>(7,469)|Transfers<br>£<br>(1,511)<br>-<br>-<br>-|**At 31**<br>**December**<br>**2021**<br>**£**<br>**-**<br>**-**<br>**102,065**<br>**47,245**<br>**-**<br>170,680<br>**-**|
|---|---|---|---|---|---|
||362,819|702,420|(743,738)|( 1,511)|319,990|
||762,699|179,678|(381,831)|1,511|562,057|
||762,699|179,678|(381,831)|1,511|562,057|
||1,125,518|882,098|(1,125,569)|-|**882,047**|
||At 1<br>January<br>2020<br>£<br>4,926<br>7,469<br>41,317<br>48,081<br>7,560<br>70,000<br>50,817|Incoming<br>resources &<br>gains<br>£<br>-<br>-<br>392,727<br>59,057<br>150,000<br>111,240<br>90,565|Outgoing<br>resources &<br>losses<br>£<br>-<br>-<br>(341,328)<br>(85,306)<br>(152,867)<br>(4,985)<br>(141,382)|Transfers<br>£<br>-<br>-<br>99,515<br>25,413<br>-<br>(70,000)<br>-|**At 31**<br>**December**<br>**2020**<br>**£**<br>**4,926**<br>**7,469**<br>**192,231**<br>**47,245**<br>**4,693**<br>**106,255**<br>**-**|
||230,170|803,589|(725,868)|54,928|**362,819**|
||791,826|282,898|(257,097)|(54,928)|**762,699**|
||791,826|282,898|(257,097)|(54,928)|**762,699**|
||1,021,996|1,086,487|(982,965)|-|**1,125,518**|



## Transfers include: 

Transfers between projects agreed with funders 

33 



**The Clore Social Leadership Programme** 

**Notes to the financial statements** 

## **For the year ended 31 December 2021** 

## 16 **Purposes of restricted funds** 

Emerging Leader Programme funds were a combination of those started at the end of 2019 as well as 5 programmes during 2020. Balances at year end will be spent on the continuation of one programme into 2022. 

Senior & Experienced leader funds were used for several programmes reaching high-level leaders in the sector. Balances at year end will be carried forward for the completion of the programmes during 2022. 

Place-based programme funds will be used for a series of leadership development programmes in the Wales social sector. 

34