2023-12-31-accounts

Clore Social Leadership Programme

Report and Financial Statements

For the year ended 31 December 2023

Trustee Report

Company number	07222275
Charity number	1136727
Registered Office	7 Bell Yard London 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
	Nicola Kidston
	Vyla Rollins
	Annabel Gillard	Appointed October 2023
	Jonathan Hopkins	Appointed October 2023
	Gabby Jahanshahi-Edlin	Appointed October 2023
	Lisa McGinnes	Appointed October 2023
	Mila Lukic	Appointed October 2023
	Tina Alexandrou	Resigned by rotation October 2023
	Mark Fisher CBE	Resigned October 2023
	John O’Brien MBE	Resigned October 2023
	Deborah Smart	Resigned October 2023
Management Team	Nadia Alomar	Chief Executive
	Angharad Irvine	Director of Leadership Programmes
	Stephen Pugsley	Director of Finance and Resources
	Jenny Munday	Director of Development (appointed
		February 2023)
	Emmet Giltrap	Director of Marketing and
		Communications
		(resigned January 2023)
Bankers	The Co-operative Bank	HSBC BANK PLC
	P.O. Box 250	1st Floor, North London Business
	Delf House	Banking Centre
	Skelmersdale	1 Old Street
	WN8 6WT	London EC1V 9HL
Solicitors	Kings & Wood
	Mallesons LLP
	10 Queen Street Place
	London
Auditors	Knox Cropper LLP
	65-68 Leadenhall Street
	London EC3A 2AD

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Letter from our chair

I am pleased to present Clore Social Leadership's Annual Trustees’ Report; a testament to our collective efforts in driving positive change through impactful leadership.

Contained within this report are details of our 2023 activities, showcasing the breadth and depth of our initiatives aimed at nurturing exceptional leaders and empowering communities. Through our projects, we aimed to tackle the evolving and immense challenges faced by the sector and its leaders, by providing crucial support, guidance and resources to navigate uncertainties and seize opportunities for growth and innovation.

Moreover, we have laid vital groundwork to support our commitment to equity, diversity and inclusion. We have taken deliberate steps to foster diverse and meaningful partnerships to enhance our learning and ensure that our programmes are accessible to all individuals. Enriching the sector with these diverse perspectives and talents will lead to better outcomes for all.

A warm welcome is extended to our new trustees, whose expertise enrich our collective vision. To our outgoing trustees, your dedicated service has paved the way for our continued success, and we are immensely grateful for your contributions.

Finally, I express sincere gratitude to our funders, whose steadfast support enables us to make a meaningful difference in the lives of individuals and communities. Your partnership propels us forward as we strive for greater impact and excellence.

As we navigate the future, our commitment to fostering inclusive leadership and driving positive change remains unwavering. Together, we will continue to work towards creating a more equitable and thriving society for all.

Sir Ciarán Devane Chair of Board of Trustees

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Trustees’ Report

The trustees present their report and the audited financial statements for the year ended 31 December 2023.

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.

Trustees are very grateful to the Clore Duffield Foundation who from 2008 until 2021 have invested considerable funds in the professional development of aspiring and existing third sector leaders through the fellowship programme and more recently, digital courses. At the same time, Clore Social Leadership concentrated on ensuring the financial independence of the charity from the Foundation.

As planned, funding from the Foundation ended in 2021. Clore Social Leadership continues to focus on diversifying its funding.

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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 current and aspiring 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 current and 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

• 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

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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

Five trustees were appointed in October 2023 - Annabel Gillard, Jonathan Hopkins, Gabby Jahanshahi-Edlin, Lisa McGinnes and Mila Lukic.

One trustee resigned in October 2023, after having served their maximum allowable term limit of nine years - Tina Alexandrou whom we wish to thank for her tremendous service as a long-standing trustee. Three trustees also stood down in October 2023 - Mark Fisher CBE, John O’Brien MBE and Deborah Smart, and we also wish to thank them for their valued 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.

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Staff

The staff team is led by CEO, Nadia Alomar, along with the senior leadership team which includes: Angharad Irvine, Director of Leadership Programmes; Stephen Pugsley, Director of Finance and Resources; and Jenny Munday, Director of Development (joined in February 2023).

We would like to thank the following member of the senior leadership team who left during the year for their valued contribution to the organisation: Emmet Giltrap (resigned January 2023), Director of Marketing and Communications.

Appendix II provides full details of the current senior leadership team as of June 2024.

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 a periodic market review of salary levels at equivalent-sized charities.

Activities in 2023

We continued to assess and evolve our leadership development offering in 2023 as part of our ongoing mission to provide appropriate, accessible and relevant support to social leaders at every stage of their career. We took heed of growing calls for in-person activity and re-embedded these elements into our Emerging and Experienced Leader programmes. We also expanded our pool of facilitators and coaches and introduced a co-programme facilitator model to enrich the participant experience by offering greater diversity of voice and experience from this pivotal role. Finally, we placed a strong emphasis on improving the participant experience, analysing and amending our systems and processes to ensure that they were efficient and streamlined, as well as reviewing our learning materials and content to ensure that it remained relevant to the changing needs of the sector.

Audiences

We supported 680 leaders through our learning activities in 2023.

We continued with our efforts to expand and diversify our audience reach, developing programmes for individuals, organisations and communities (place or issue-based). This activity was bolstered by ongoing partnerships and new partnerships.

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Programmes and courses

A summary of our 2023 programmes and courses is provided below:

Skills and development for individuals

Short courses

We reached 152 individuals through our short courses, based on our leadership development model and social capabilities’ framework:

Discover

• Discover Feminist Leadership Stepping Into Management Diversity, Equity and Inclusion

Whilst all of these courses met our minimum feedback score of 4 out of 5 or above, Discover Feminist Leadership received the highest overall average feedback score of 4.4 out of 5.

The information and guidance was very eye opening. I learned new ways to tackle and deal with workload, prioritise and delegate, showing new approaches when leading and managing.

Stepping Into Management participant

Really enjoyed the leadership development plan and putting all the learning, reading and discussion into tangible action.

Discover participant

Brilliant, engaging, in depth yet very accessible for all. (I) felt heard, welcomed and understood. Thank you!

Discover Feminist Leader participant

This programme has given me a great insight on how to get maximum success in future projects by using the why, how and what concept.

Discover Feminist Leader participant

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Guided programmes

Our guided development programmes are designed to equip participants from across the sector with leadership skills, knowledge and peer networks. Participants have a valuable opportunity to meet and learn from like-minded peers from other organisations, which has proved to be an extremely valuable ongoing resource for all Clore Social fellows

Management Essentials

These programmes consisted of six interactive online workshops designed to help managers in the social sector develop and refine their management style and begin to develop core leadership skills. Smaller cohort sizes (of 8-12 individuals) enabled additional time and space for in-depth learning, reflection, support and peer connections.

Key programme impacts:

• Participants were immediately applying many of the skills and techniques learned during the programme to their work lives.

• The behavioural changes and practices that participants had learned on the programme have stretched beyond the individual to teams and organisations.

My work with sector colleagues has improved - I feel more confident in leading discussions, writing agendas, and ensuring that everyone has the opportunity to 1— contribute.

Management Essentials participant

• The 'commitment to share' meant that I intentionally took something away from each session to either put into practice or to ask my staff - it meant that I had

• 1— better working relationships with my staff and gave them the confidence to share their own thoughts with me.

Management Essentials participant

It has been really useful to implement a 'fuller' induction for my recent new starter, and it was great to receive positive feedback after their first 2 weeks. ‘1—

Management Essentials participant

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Emerging Leader

These programmes bring together peers who are passionate about social change and keen to develop their leadership skills to have a greater impact. Through a wealth of online and in-person leadership development interventions, participants built the skills, knowledge and networks needed to harness their passion, effectively lead projects and people and contribute to positive social change.

Key programme impacts:

• Participants were able to better support and lead their teams more effectively. Imposter syndrome came up as a major initial theme across Emerging Leader cohorts, however by programme end, leaders reported feeling more confident in themselves and their leadership. They also reported feeling significantly (average 21%) more confident in their ability to act as a courageous changemaker as a result of the programme.

• The peer learning and support that participants experience had an immediate influence on their leadership style and learning going forwards.

• It has been a real privilege to meet and learn alongside such an amazing group of peers. I have really valued the diversity in the experiences of my fellow learners and

• |— the shared experiences we have through current challenges, leadership aspirations and learning together on the programme.

Emerging Leader participant

• [The programme] developed my skills and confidence across a range of areas but most importantly my self-awareness and self-reflection.

• 1—

Emerging Leader participant

• 1—

• Enabled me to coach colleagues, focus our work, communicate better and reflect on my strengths and weaknesses.

Emerging Leader participant

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Experienced Leader

These programmes bring together senior leaders who are passionate about social change and using their leadership to pave the way for a more inclusive and equitable society. Through a wealth of online and in-person leadership development interventions, participants built the skills, knowledge and networks needed to effectively lead social change and enhance their ability to navigate complex challenges, advocate for systemic change, and drive innovation.

Key programme impacts:

• Enhanced organisational impact was among the highest noted outcomes through improved working relationships, collaboration and team efficiency.

• Participants reported on improved confidence and a better understanding of one’s self and one’s leadership thanks to the time and space given to focus on one’s leadership practice, needs and wellbeing.

• Participants valued the opportunity to come together and the rich connectivity that the in-person Residential, and other peer-to-peer components such as Action Learning, Peer Learning Circles and the Hackathon, nurtured.

It's helped me find a way to step back and let my senior managers manage, which allows me to think more broadly about the issues we're addressing and to ‘|— consider better, longer-term approaches. Experienced Leader participant

• (Peer networking) has been one of the most significant elements of the programme…everyone was generous with their input and I found it helpful and

• 1— supportive…we were all facing similar challenges and that made me feel less isolated as a leader.”

Experienced Leader participant

• I have changed the way I communicate with different colleagues at work, which has been extremely beneficial. As a result I have supported my team through

• |— change, whilst continuing to deliver quality outcomes.” - Experienced Leader participant

Experienced Leader participant

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Learning and Development for Organisations

A selection of our work within social sector organisations:

British Council

Our partnership with the British Council continued throughout 2023 with the delivery of a ‘Women In Leadership’ course. Focused on progressing gender equality and addressing the gender gaps in leadership, the course supported social transformation by strengthening skills and networks for gender equality and increasing the participation of women in leadership across the social development and education sectors in Europe and South Asia (Pakistan, Nepal and Bangladesh). Regional facilitators were once again trained by our team to facilitate the programme and delivered the course to a total of 129 participants over the course of the year.

Key programme impacts:

• 100% of final survey respondents stated that their confidence as leaders had increased since starting the course and that they felt better equipped to deal with future leadership issues as a result of completing the course.

• Live classrooms provided a safe space for the women on the course to share their stories, cross-sector experiences and diverse experiences and cultivated a strong and supportive peer environment and network.

• Participants praised the content and course structure for providing them with a valuable and applicable toolkit of leadership resources and development activities

This course has refreshed my confidence as a leader. I felt lost due to extreme work conditions as a lecturer at a female university but this training helped me get a fresh and positive perspective on my life again. This in turn made me way more |— motivated towards my professional goals.

Participant from Pakistan

This course has helped me gain a deeper understanding of the unique challenges that women face in leadership positions, such as bias and discrimination, and how |— to overcome them. I have realised the importance of diversity and inclusion in the workplace and how it can lead to better decision-making and innovation. Participant from Bangladesh 66—

As an individual I’ve learned new things each week with modules and classes, and have a network of powerful, young female leaders to guide me to be better each day. In my capacity as a leader I can now say I am more confident and have gained insight, skills and perspective to better serve people.

Participant from Nepal

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Clore Leadership

In 2022, we worked together with our sister organisation, Clore Leadership, to co-design the course Discover Your Leadership and tailor it to the arts and culture sector. We provided training to enable Clore Leadership to deliver the course themselves and a pilot was launched in the autumn of that year. Thanks to positive feedback, our partnership continued in 2023, with Clore Leadership delivering three iterations of the course to 70 participants.

International Rescue Committee

We forged a new partnership with the International Rescue Committee (IRC), which saw us run three leadership workshops to support their RISE Programme, which supports refugee integration by empowering refugees with tools and skills to actively and effectively engage in their new communities. The programme included a leadership training component which aimed to strengthen individual and community leadership as well as explore effective communication and relationship building.

Find a Coach

We continued this vital service to teams and individuals. Find a Coach helped match people with coaches with the relevant experience and qualifications to effectively guide them towards increasing their resilience, efficiency and performance - taking them one step closer to achieving their personal and professional goals. Our coaches all meet the Clore Social Leadership standard of quality training - everyone in our coaching network has a minimum of seven years' coaching experience and has previously worked or coached within the social sector.

Skills and development for communities of place

Social Leaders Oxfordshire

2023 saw us launch our next place-based initiative - Social Leaders Oxfordshire. Consisting of two programme streams, one aimed at Emerging Leaders and one aimed at Voluntary and Community Leaders. Involving both in-person and online activities, the programme aims to increase and formalise the leadership skills and capabilities of local leaders and support them to be more confident, effective, resilient and better connected with one another. The 50 participants will be encouraged to cascade their learning back to colleagues, teams and organisations so that the third sector in Oxfordshire can benefit from a capable, collaborative leadership voice, and organisations across Oxfordshire are strengthened and revitalised through effective and collaborative leadership.

Having kicked off in September 2023, the programme remained in its relative infancy at the close of the year, however there were some positive early indications that participants were already starting to reflect on their leadership and take learnings back to their organisations.

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~~—~~ I really loved the Golden Circle I particularly benefited from video. I'm currently rewriting the creating my own leadership ~~1~~ business plan and this has given development plan, it's a very me some great reflective tools to useful tool to make me focus update and tweak our mission on areas that I need to statement. improve.

Oxfordshire Emerging Leader participant

Oxfordshire Voluntary and Community Leader participant

Social Enterprise Leadership Development Programme, West of England

2023 also saw us launch a programme aimed at leaders working in the Voluntary, Community and Social Enterprise (VCSE) sector in the West of England (Bristol, Bath & North-East Somerset, North Somerset or South Gloucestershire). The five-month programme, delivered in partnership with Voscur, aims to increase the leadership knowledge, understanding and capability of Bristol’s VCSE sector social enterprise leaders so that they can lead with confidence and gain access to a thriving social enterprise peer support network.

Skills and development for communities of practice

Institute of Chartered Foresters

We partnered with the Institute of Chartered Foresters (ICF) to launch an Emerging Leader programme aimed at those working in the forestry and arboricultural sector across the UK. Over the course of six months, we supported 36 environmental leaders through a hybrid programme focused on enhancing leadership for a strengthened forestry sector. Participant Iain Moss, Regional Manager for Woodland Trust Scotland, describes his programme experience and how he has been applying the learning:

• Over the duration of the programme, I have been immersed in all sorts of ways of working, tips for increased productivity and other ways to streamline my working

• |— life. Working on the mantra of "know yourself, be yourself, look after yourself", I have learnt that not everything will be useful to me as the type of leader I am, so the challenge is to select what will help and what isn't quite so relevant. I have started to look at reshaping my leadership journey using a select few techniques that I believe will improve not just myself but my team and others around me.

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• |—

• The "knowing myself" really revolves around recognising what type of personality I am and embracing that as a leader/manager and knowing that I won't

• fundamentally change my core leadership traits. This means I can focus on improving where I do have room to grow whilst being cognisant of where there is space around me for other personality types that will complete the jigsaw puzzle of a well-rounded team. "Looking after yourself" is focusing on streamlining my work programme, putting steps in place to manage "peripheral" work and prioritise what I need to work on. There have been numerous suggestions for how to improve both productivity but also wellness and the next step is to make sure these are implemented for me but also to try and encourage my team to adopt the techniques that resonate with them.

• ‘1—

• Overall the leadership programme has been very surprising, teasing out both my traits that I didn't realise about myself but also real and tangible tips for improvement that I didn't know existed. I hope that moving forward I can continue on a trajectory of continuous learning using the launchpad ICF and Clore Social Leadership has provided.”

Rise Up

We were delighted to continue to work alongside London Youth as a delivery partner on London’s Violence Reduction Unit’s Rise Up Programme for the third year running. Aimed at frontline youth practitioners, our involvement included general consultancy and programme design support as well as offering coaching to the programme’s 80 participants and delivering some in-person workshops based around our Leadership Development Framework.

You can find a summary of our 2023 activity in our end-of-year video!

Digital platforms and systems

Whilst we have reincorporated face-to-face elements into some of our learning activities, we continue to rely on digital platforms and systems for both programme delivery and participant and alumni engagement. This hybrid format enables us to meet our aim of making leadership development affordable and accessible to the sector.

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Achievements and performance - Key Performance Indicators (KPIs)

Clore Social Leadership’s vision is of a society enriched by a diverse and inclusive social sector led by individuals with lived and learned experience. Individuals with a rich skill set who lead with efficiency and ethical values, so they can respond positively to the changing demands of the 21st century.

To monitor and evaluate our vision, we present three important KPIs: (1) the number of leaders reached; (2) the ethnic diversity of leaders reached; and (3) the programmes’ impact on leaders, their organisations and communities.

1. Number of leaders reached

*The reduction in participant numbers was a strategic decision, as resources were allocated to internal capacity building and enhancing quality standards in 2023.

2. Ethnic diversity of leaders reached

Clore Social Leadership is committed to achieving and promoting equity and diversity both within our organisation and through our work and activities. 17% of participants across our guided programmes were from a Black or racially minoritised background.

3. Programme Impact

Our unique approach is proven to work and has consistently delivered impact within the social sector. Analysis shows 86% of our fellows lead more confidently since completing their programme and 82% consider themselves a better social leader. 79% reported themselves being better at working with and through others and 74% described themselves as more resilient. We measure our programmes’ overall impact at two key touch points through a combination of surveys and written or verbal testimonials: (1) Programme end; and (2) Six months post-programme.

We would like to extend our deepest gratitude to our many funders and partners who have enabled us to continue to offer high quality and much needed support to social sector leaders.

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Financial review

Income

Clore Social Leadership receives grant funding from numerous foundations, trusts and corporate sponsors. The largest grants in 2023 were £125,000 from the This Day Foundation (unrestricted funding) and three years restricted funding of £231,675 from the The National Lottery Community Fund for the placed based social leadership programme we are delivering in Wales.

Total income was £583,644 for the year. This is an overall increase of 25% from 2022 £468,574, and in line with our expectations given the current challenging operational climate. Within this figure, there was a significant shift in our unrestricted income which increased to £509,630 in 2023 from £393,574 in 2022, an increase of £116,056 (30%) as part of our business plan to grow unrestricted income.

Trustees are very grateful to the This Day Foundation (formerly The GL Jubilee Foundation) for the award of £250,000 of unrestricted funding, £125,000 in both 2022 and 2023, and to The Rank Foundation for the unrestricted grant funding of £100,000 over a three-year period from 2023-2025.

Trustees wish to thank all of our funders in 2023:

• The National Lottery Community Fund This Day Foundation (formerly The GL Jubilee Foundation The Rank Foundation Humphrey Battcock

Reports are made to funders 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 £676,097 a reduction of 23% from the previous year’s expenditure of £883,035. This is linked partially to the completion of a number of restricted funded projects for Emerging Leaders and place-based programmes in 2022, and a review of our cost-base structure during 2022 as part of our business improvement plan, leading to a more cost effective delivery of our programmes in 2023.

Movement of funds

Restricted funds at year-end 2023 are £128,350 (£91,225 in 2022), an increase of £37,125, primarily reflecting the timing and delivery of the place-based programmes in Oxfordshire and Wales, with the corresponding balance of restricted funds being held as restricted reserves to fund this activity during 2023 and 2024.

Unrestricted reserves were lower this year £246,783 (£376,361 in 2022), reflecting an inyear deficit of £129,578, though this was significantly lower than in the previous year (£185,696 in 2022). There are several factors within this, though primarily linked to the post-Covid-19 reduction in restricted funding, and the need to retain a core of key staff while transitioning to more diverse income streams, particularly in unrestricted funding.

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Reserves

Trustees have a policy of holding a free reserve of at least £156,000 to cover three months of core operational expenditure (staff and office costs). This was met across 2023, with unrestricted general reserves, excluding reserves tied up in fixed assets, of £246,783 as at 31 December 2023.

Our level of reserves will be particularly important as we continue to manage the negative effects of Covid-19 and the cost-of-living crisis on our core business of providing guided, hybrid 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 2024.

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 14 December 2019. 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 on a quarterly basis. This register is also reviewed by all trustees as part of the board papers with each board meeting.

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

• 1.Shift from prioritising leadership within the sector potentially resulting in an insufficient funder pipeline.

• 2.Decrease in commercial income due to the impact of the cost-of-living crisis on the social sector.

• 3.Issues with capacity and cover in case of planned or unplanned staff absences.

These risks have been mitigated through the following actions:

• 1.Demonstrated impact of our programmes and increased need of skilled and efficient social leaders, along with a plan to diversify income streams.

• 2.Continued advocacy of the impact of our programmes at a sector level and engagement with sector leaders, whilst keeping programme fees as low as possible.

• 3.Resources, insurance and business continuity plans are in place to mitigate the impact of covering leave.

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Plan for 2024

Since our establishment in 2008, we have supported nearly 3,000 social change organisations, from grassroots organisations through to super-major charities. We have trained and developed over 4,000 social leaders, empowering them to transform the lives of their beneficiaries, communities and the world around them. Our fellows work across many complex causes including disability, equality, women’s rights, homelessness, youth, migration services and ex-prisoner reform.

We remain committed to achieving our vision of a society enriched by a social sector led with skill, efficiency and ethical values. With this, our plans for 2024 and beyond focus on increasing the reach and accessibility of our programmes to ensure that social purpose organisations have effective and resilient leadership, today and in the future.

• We are firmly committed to fostering a diverse and inclusive leadership landscape by equipping marginalised and underrepresented individuals with the vital skills and development they need to thrive. We will deliver dedicated programmes and continue to adapt our learning resources, approach and funding model to further break down these barriers and unlock the immense potential of these leaders, building a better, more equitable future for all.

• Our place-based development programmes immerse leaders in the unique challenges and opportunities of their communities. This approach fosters tailored solutions that resonate and drive change locally, whilst enhancing the leadership and resilience of the local social sector. We will continue to build on the success of our current and previous place-based programmes, with a focus on growing to reach communities where the social sector is struggling and facing significant challenges as the result of increased demand and depleted resources.

• 2024 will mark the start of a new era of organisational development for Clore Social, transforming how we offer leadership and management training to the social sector. We will launch a dedicated Organisational Learning and Development offer, curating bespoke training for organisations working for social good. This tailored approach will elevate the performance of organisations by empowering people and teams to reach their full leadership potential, so they can collectively achieve organisational goals, support stakeholders, enhance services and advocate for the cause more effectively.

• We will continue to respond to the sector's current and emerging needs, adapting existing programmes and developing new initiatives. Along with our focus on emerging and experienced social sector leaders, we plan to expand our audiences and support sub-sectors that are being significantly hit by the current political and economic uncertainties, empowering these organisations with the resources required to remain effective, efficient and impactful.

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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

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

Knox Cropper were appointed as the charitable company’s auditors during the period and have expressed their willingness to continue in that capacity.

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

Approved by the trustees on 20th June 2024 and signed on their behalf by

Sir Ciarán Devane - Chair, Board of Trustees

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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 (Chair)

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 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 the Chartered Institute of Taxation. Since then, he has taken on various voluntary roles, including trustee and treasurer of Sussex Community Foundation and Resolution Foundation.

Nicola Kidston

Nicola Kidston is a senior social sector leader with over 20 years’ experience. She is committed to creating positive futures with young people and is energised by developing 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, Nicola 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. Nicola has been a Clore Social Leadership fellow since 2016 and continues to connect to her peer group for learning and development.

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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 (LBS) 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 LBS. She is also a Managing Director of Rubato Global Consulting Limited.

Annabel Gillard

Annabel is a speaker, writer and researcher on organisational culture and ethical values in an AI-driven future workplace and is currently investigating the role of ethical culture in ESG investment analysis, ethical frameworks for commercial use of behavioural science and the role of ethics in building trust in a digital economy. She serves on the Advisory Committee of Blueprint for a better business, the Institute of Business Ethics, and is a trustee for STGSC. Previously she spent over 20 years representing clients and building institutional businesses in asset management and served on the Boards of the Pru Staff Pension Scheme and the CFA Society of the UK. She has an MA in Philosophy and AI, has just completed an MSc in Behavioural Science and is a CFA charterholder.

Jonathan Hopkins

Jonathan established Citadel Policy & Communications in 2005, as consultancy specialist in public policy, stakeholder engagement and campaigns. He was previously a director of PR-agencies and a political adviser in parliament and for an education union, working across government and media. His greatest experience is in support of education, youth work, social justice and inclusion, working with charities and community organisations alongside public bodies and civic leaders.

Throughout his career Jonathan has sought to distil complex social issues to offer insights and recommendations which help affect positive change, including advocacy and support of young people. An experienced charity trustee, he is also founding chair of Abingdon Learning Trust in Oxfordshire.

Gabby Jahanshahi-Edlin

Gabby Jahanshahi-Edlin is an award-winning social entrepreneur and creative consultant specialising in social and cultural change. In 2016 she founded the groundbreaking menstrual equity charity, Bloody Good Period, and held the role of CEO before stepping down in 2022. Alongside BGP, she co-founded Bloody Good Employers, helping companies improve their communications, culture and policies around menstruation and menopause and which was named a Natwest Top 100 Social Enterprise. Now, she spends her time consulting with charities and companies with a social purpose and speaking to companies about culture, branding and leadership. Gabby has been named one of The Progress 1000: London's most influential people 2018 Top Changemaker by the Evening Standard, a Top 50 Trailblazers in Gender Equality 2021 by We Are The City and one of 100 trailblazers redefining the creative industry 2019 by The Dots.

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Lisa McGinnes

Lisa is a seasoned sustainability expert with over 15 years of experience in risk and compliance within the financial services industry. Her expertise lies in educating and empowering global stakeholders to navigate the complexities of ESG (Environmental, Social, and Governance) risks and opportunities, while actively contributing to the enhancement of global governance and risk frameworks to mitigate identified ESG risks. Committed to promoting diversity, equity, and inclusion (DE&I), Lisa champions the pivotal role these principles play in fostering innovation and inclusivity within organisations.

Mila Lukic

Mila founded and leads Bridges Outcomes Partnerships (BOP). Bridges Outcomes Partnerships use outcomes partnerships to radically improve human services and environmental initiatives to improve outcomes for people and value for society. BOP supports programmes dedicated to empowering people across the world to improve their lives, in areas ranging from education and wellbeing to housing, child protection, employment and environmental protection. Mila is on the boards of North East Lincs Thrive, Ways to Wellness, Education Outcomes Partnerships, along with family, employment, and refugee support focused programmes. Prior to BOP, Mila’s career spanned private, public and third sector. Mila helped create and run Education Generation, a crowdsourcing social enterprise focused on enabling young leaders in lowand middle-income countries to participate in some of the world’s most forward-thinking education programmes.

Trustees who stepped down during 2023

Tina Alexandrou

Tina Alexandrou is a trustee of the Resolution Trust and 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.

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Mark Fisher CBE FRSA

Mark Fisher 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. Mark is also 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 Department for Work and Pensions (DWP) responsible for the Government’s agenda for the prevention of long-term welfare dependency, and before that the 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.

John O’Brien MBE

John O’Brien is 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. This includes being founder of Anthropy, the national responsible leadership gathering focused on the future of Britain and held annually at The Eden project in Cornwall. 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 his various roles.

Deborah Smart

Deborah Smart currently works within the Innovation and Growth team at the City of London Corporation. Prior to this she spent more than 15 years working in the social finance sector, where she specialised in developing and delivering large-scale support programmes for charities and social enterprises. As Director of Grants at Social Investment Business she gained extensive experience of working with government bodies, trusts and foundations. Deborah was the 2015 Clore Social Leadership Social Finance fellow. Deborah is a trustee of SFAET Ltd, a multi-academy trust in the London Borough of Havering. In her spare time, Deborah also volunteers with a small Essex-based broadcasting charity.

2 45

Appendix II: Senior Leadership Team Biographies

As of June 2024

Nadia Alomar - Chief Executive

Nadia’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 an emphasis on 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’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.

Stephen Pugsley - Director of Finance and Resources

Stephen has responsibility for the finance, IT, HR and board governance functions. He has over 30 years’ experience working in the non-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.

Jenny Munday - Director of Development from February 2023

Jenny is responsible for the fundraising efforts within the organisation and in close collaboration, the development of new programmes and projects. A Clore Social fellow herself, Jenny’s career has focused on supporting individuals, organisations and systems to thrive within the non-profit sector - to which leadership development has been central. Jenny is a small charities’ advisor, trustee and a qualified action learning facilitator, driven by her commitment to furthering human rights, social action and children and young people’s causes.

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Independent Auditior’s Report to the Member of Clore Social Leadership

Opinion

We have audited the financial statements of Clore Social Leadership Programme (the ‘charitable company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of 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 2023 and of 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 of 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 the financial statements section of our report. We are independent of the charitable company 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 charitable 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 trustees with respect to going concern are described in the relevant sections of this report.

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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 we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinion 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 Report of the Trustees, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared, is consistent with the financial statements; and the directors’ report included within the Report of the Trustees has 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ 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. 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 from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

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Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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.

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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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:

• The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance. We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.

• The audit team, which is experienced in the audit of charities, considered the charitable company’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Use of the audit report

This report is made solely to the charitable company’s member 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 charitable 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 anyone other than the charitable company and the charitable company’s member for our audit work, for this report or for the opinions we have formed.

Richard Billinghurst FCA Senior Statutory Auditor for and on behalf of Knox Cropper LLP Chartered Accountants and Registered Auditors 65 Leadenhall Street London EC3A 2AD

..20th June 2024

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Statement of Financial Activities 2023

The notes on pages 33 to 42 form part of these financial statements.

30

20/06/24

Sir Ciarán Devane

The notes on pages 33 to 43 form part of these financial statements.

31

Clore Social Leadership Slol•m•nl d ¢osh For th• •ar •nd•d 31 D•c•fflbu 2023 Nolo N•1 In¢om• l (•xp•ndttw•l lor lh• r•pth p•rfod Depreciotion choi90S C*viden(15. inleresl ond ienl frcxn investnnnts Ilncreaselldecre05e in debtus Increaselldecreosel in creditor5 (12,453) 1.4?$ 14.221) (23.429) (94.8e8) 1414.4611 2.158 18381 111.943 cosh fvom/lw•d In) opwollThB acllvlll•s 1215.49&) 1312.4941 Cash fvom In¥•sllng aclMII•s: Divitten¢s. inleKost ienls Irom inveslmgnts N•t ¢osh VOTAd•d by l (umd In) ¢xllv N•t caih pro¥ld•d by l (umd In) fl￿nC￿9 oclfr Chw9• In ¢osh ond ¢osh In lh• y• 1209.2741 Cosh ts)d c￿h e•c•mb•r A131 Docembef 2022 Cijsh in hond and ol txy)k 371.867 581.141 Total cash ond caih •qul¥al•nts 371.867 581,141 Anolyili ol ¢I￿ng•S kn n•1 d•bl At Stort ot Al end ot ye C05hfiow5 C05h in harKJ and ol txy 581,141 1%)9.2741 371.867 32

Clore Social Leadership The Clore Soclal Leodffshlp Prowamme Notw lo lh• fln4n¢lal st•t•m• For lh• •ar •nd•d 31 D•c•mlJw 2tr23 l A¢¢ovnllng pokl a) Company Snlryrn(rtSon Clore Sociol Loodorship Pro£¥0￿￿? 15 0 ch(wilable coffp)ny lff#ted by g￿￿onIee registered in England wlh regislralion wmber 072YX275.1ts iegislered olkè address i5 7 Bell Y(Kd. LorKlon WC2A 2JR, b) los1¥ of pr•p(wollon The financial slotomenls hove been kxepored In occordarce vlth kcounllng ond Rewting by Ch¢Alies: Slalemenl of Recoffrnended Proclice ap￿ICat￿e lo chorilies Fepc￿n9 their occoun15 In occordonce with Ihe Financiol Replyling Slantjaro apr4icable in the UK and RetNJt4c ol tre￿nd (FR5 ILY21 lellecltve l Jonuary XJI 91- Ichorilies SORP FRS 1021. the Finonciol Rep(xling Standard OFrlicable in the UK oTrJ Repub4c ol lieland IFRS I￿1 ond Updole Bulelin 2, and Ihe Choriti95 kl X)I l. The occovnts tYMiled ￿ GBP rounded lo £1. wtsch is Ihe lunclional curency ol Ihe chorily. els ond liobi1Slles ore inilioly iecogrised ol hlslc5cd cost u trar￿ac￿on vokJ8 urdess olh8Dthse sloled In th8 relovonl occounliro Olcy tr note. ¢) Pubk b•n•m •nllty Th￿ (.'Fir)Iil(?l>lp. ('.()mFxJny rI￿ts defirlll¢)n ol a wblic bgrwfil entity FRS Iir2. d) G•lng coK•m The Irv51ees ossess wheltr me Ltse ol oolrwJ concwn Is opryorrtle l.e. Ihwe are ciy maler1al unceftoinlios related to events u CC￿dI11oftS Ihol moy cosl ygnificonl doubl on the aiNlily ol cl)urily lo conlinve 05 o golno concem. The Iwslees hove trnde th$ 05sessrrnt In rewl ol o p￿00 ol or• yeor trom the (Jole ol Op￿0val ol Ihe Nnoncial slolerronts. Annual tXKJ9els hove t)een revhed toking the cwent l( n ncorrej into occwnl with ￿￿18n1 fl9v￿5 lly bolh Income ancl expendllwe, chothfy hokls reseThes ovw orKI above tts reseThes polcy and Iqvld ossels In fcym ol cosh hekj In shcxt teAm deposits. Foi thi5 re050n the Iru51ees conllnue lo pl Il y)kng ¢¢yKgm txjls in Fygparkng Ihe Ilnonclal slatemenl5. •) In¢•m• In('.()mtt, includlng from Govwrwnenl cnd ottyrt Gvonls. t•heIher'c￿t￿ (y 'inc(yno'. 15 reco9n&ed vthen the cl)arily has enlllleffnl lo Ihe Ivnds. ony pwlom)orKe CCrfKllli(yK ollocrod lo Ihe I￿orne have been rrol.11 ot)oblo Ihol inc<Th) bo received ono Ihol Iho cwrrfx￿I con be m005ured feliat￿y. Income l¢J ryogrommes sponnty Iwo or more accountlng wlods is olhxolea ovw Ihe p￿10d lo which11 relales in ordef lo more OCCLxolely recc¥Thse tho wfcmmonce cor)ditions ossociated with Ihls wKorw. Income received in odvonce ol delivery ol 0 5pocilied Service is doleffed until the crilerio Icy incorTKry recogntlion is mel. Donolk•ns o191ts. and laclll Donaled prnlvssinnol Services ond Oonaled foc1h1￿5 ¢￿ rocow¥sod 05 irKorrn when Ihe ch(wify hos control ovw thè Stèm tx has rèceivèd thè $8rytè. On receipt, donolèd oifts, ￿01￿$$60nal servicès ond donolèd lacili1181 ore recogni5ed on the boy5 Ot the yo￿• ol Ihe gift to the ch￿lty whrh 13 the amovnl the cfvjrity would have been wllllw to pay lo obloin locwlios ol atymvolonl ecor1￿C ben6fjt ¢)n the o￿n mtskel,. a coffospcKllng Or￿unt Is ttr•n recogr4s•d In exp8nth'lw8 kn Iho wM)d of receipt. In aCc￿danCe wiltt the Chcxilies SORP IFRS l(r21. vobnteer tlme Is not recowased so reler lo the Iruslees, anrnjol rep￿ tor m(we int(ymotion abowt thew Con1n"tYJti￿. 33

Clore Social Leadership The Cl¢xe Soclol LeoderJl Pr¢yomrne Notes to lh• flnonclal Jtat•rn F¢x lh• •(w •nd•d 31 D•c•mb•r 2W13 l Acct￿n11n9 pokl•s (contlnu•d) g) Interesl r•cel4abl• Interest on tund5 held depoyt 15 irKluded Vlt￿ receivtle. h) FurKI accounllng Re5fricted funds ore to b8 L￿d l(x speci￿ FXffFKfJes os down by the ￿rMIllUre wfvch meet5 these crilerS0 is chorged lo the fvnd. UrY8slricled fund5 are ¢knat￿liS olher incorrirvJ resoLfces received ￿ generoled ICY Ihe ctmirilable PLKP05es. Deygnoled furKIs ore vnrestricled fLVKts ecym0￿ed by the trustees l(y wlicLkw ptNpr)se5. l) Exp•ndlhK• and lff•covwobk VAT Expenditure is recogni5ed once there 15 a legal u con5trKtive oblgotion lo make o payment to a third pcrly. il is probable Ihol 5etMemenl will be required ond Ihe omovnl of ttle obSgolw)n con be mooslwed relow. Expenditure is Clas￿lied undei the lolowirrfJ octhvity heodirrfJs: Cosls of lundg rdale lo the costs incLYred by Ihe Cl￿nIoble company in ir¥Jucing third parties to r￿ke y￿￿tary contribution5 to it. as wel 05 the cost of any achvities wth a lundroiyng wp05e. Expendilure on choriloble ¢xltwlies inclvdes the costs ol offwiNJ felovohips oThJ ￿lated sthvices Ljnderlaken lo I￿ther the pwx)ses ol the charity ond their associoled swyxl costs. Other expendilLKe rerMe5ents those iteff6 not lathng into any Oth￿ head￿g. Itrecovwot4e VAT is char(￿￿ os o cost ogonsl Its ockn.wty I￿ wP#ch the experdlLYe wos incuThed. J) Allocollon ol support co Resources expended are olocated lo the porticukx activity where the cost rekjles directty lo that oclivity. However. the cost ol overall direction ond a¢JrThnislrol1￿ of eoch oclivity (support cos151, comprisiro the sohJry orKI Overt￿￿d cos15 of the conlr(Jl lurKtion. is opkxxh'Orh￿ on folovTffJ vhmch ore an e51imole. bosod on sloff li￿. ol me ar￿n1 atm1￿l(￿4e lo each ockn"vity. GLNded Pwomrnes OnlSne leoming Orgonisalional Leaming ond Deveh¥winl Coftmnunity Prowmmes 42% Where inl(yrnafron abcMJl Ihe ¢im5. oLieclives ond F¥ciocts ol the ctrhJify is ryOVKSed lo polenliol beneficiaries. Ihe costs associoled wilh this kxjblicity ore alkxoled lo chorilot)le expendilwe. Governrjnce c0515. which ¢ye cQx￿￿1CrBd a cotegw of 5VPWt Costs. oro c05t5 0550cialed wilh Iho govemonce affanoemenls ol me charity. These cosls ore associoled wilh conslitulior)ol and slalulory requirements and irclvde ony co$15 055OCiQted with the strotegi rTrJnogefrenl ol the chority'5 oclivilie5. k) Tan￿bI• nx•d assets Items ot equipment copitoltse(I where the wchose twice exceecls Desyeciolion costs ore dlocoted lo aclivilies on the bosis ol the use ol the relaled ossels in Ihose aclivilies. Assets ore reviewed lor impairment if c¥cvmslonces indicole their cwing moy excee(I they rel reolisot)le volve OfKJ vahJe in vse. Deryeciolion is rffovmjed at rates catvkiled to V4fite down Ihe cosl of each osset lo ils eslimoled residuol ¥0￿e over 115 oxpecled vseful rite. I1￿ deFyecKJlion rotos in Use ole os fdk>ws: Corrpjler Equipment 3 ye(x5 34

Clore Social Leadership The Cl￿e Soclal LeadewsNp Prowamme N¢)1•s to the financlal thitements F¢x th• •(w •nd•d 31 D•c•mb•r 2wa3 l A¢¢ovnllng poklw (¢onlhw•d) l) Hnanclal Instru The ch)rily orly hos linoncial 05sels ond financ￿1 liots'lities ol o kind Ihot qvolfy 0$ t￿51¢ financiol in5lwrr￿nts. Basic finonciol Sn5twments are initKJlly reco9Thsed al liar￿0ClIOn vahje ond 5ub5eqventty n￿O$￿ed ol It so111emenl value. Hnanclol Trade and other deb10￿ are recogr1￿d ot lh• Sett￿nI am￿nI dve ofter any trode discount offered. PTèpoymen15 orè vohjed ol Ihè orrkwnl rAepoNJ rnl ol ony fvode disc¢)unls ¢kn. Ananclol Uablllll•i Crodilor5 and Fovisions lye recognised wlwe Ihe chorfty Ikis o tyè58nt oblgalion resulling from o post evenl Ihol will Fxobably re5L4t In Ihé Iransfer ol funds lo o Ih¥d porty ond Ihe omounl due lo sellkry the obligation con be m805Lre0 ￿ eslimoled relioW. Cfedilcn aThJ ExovN￿$ (xe ncrfmally fecoarised al I￿8￿ selllemenl ar￿￿1 allef o#o￿ng f(x ony tvode d15covn15 due. m) Caih ol bonk and In htsnd c.nsh cjl ts(Jnk lind I:u%h in horKJ inckKles cosh orKJ sh(yl Iwrn NgNy li￿d Investments vlth o short malwlly ol IPYee monlhs or less from Ihe dole of ocqvlythcv) (y opthry ol the depos11 (y sKr4ky occounl. Cash bakJnc85 exclvde ony Ivnds hebd on behalf ol uws. n) P•niloni Ihe r".hiJiily conldbutas lowuds Ihe perfjk￿ schèmas. The cost ol lh8 contritxrtSon Is choroed lo Ihe stotenwit ol l)an¢kA ocllllles on on oc¢wols l)ols. •) employ•• b•n•llh Tho cosls ol shorf.lern effwoyee benenls ¢xo recognlsed os a labllty an owonse. The cosl ol ¢JlV unused troldoy enllllomenl Is rec¢)wlsed In Ihe pwlod In wNch Ihe emr4oyoe's ser¥lces lye feceived. Terminalion bonofits ole recofvd inwr￿dIatety as on exp8n5e vh￿n Ihe conpany 15 der1¥￿trObly cornmllled lo lefftilnole the enwoymenl ol an emt4oyee ￿ lo [ffo￿de lefmlnollon benellts. p) SI9￿onI accounkng pollc In rhe app1￿catiOn ol Ihe comoony's aCCOLV)IOng pc4cl•s. IM ch(lty h f•qL*od lo mak8 ludoaments. esllmalas ond 05sumplions otxxjl the c(yryiTrJ amounl of as5et5 a￿1 liots'lilies Ihol ore not readlty opporenl from olher sources. The estin￿leS ond ossocioled ossvmplions (xe bosed on hislcrflcal experience ond olher locliys Ihal ole ccrfwoefed lo be relevonl. h£tuol resu115 moy ditler from these e51imole5. The esllnKJtes ond undethtno ossumptk)ns orè rav1￿d on an on-golng bosls. Re￿￿On5 lo occounllng esllmoles ole rocognised in the period in vthch the estimole is ievi5ed, it ttle reviyon offec15 only that period, Of in the pefiod ol Ihe reVIl￿ orKI Ivlwe r￿c￿561 Ihe fevhlon ollecls bolh cLYrenl orKI fvtwe ped¢xIs. There arè no ésllmles and ossutrpllons IPKJI cortidèrèd to hove o ￿nif￿an1 rfsk ol tousSno a mlerfol adju5tmont lo the liwrKiol 5laterr￿nts in o fvlLYe WKXJ. 35

Clore Social Leadership Th• Cl￿• Soclal L•ad￿￿ Prowarnrn• Not•$ to lh• 11n0￿191 thl•m For lh• •rnl•d 31 D•c•mbw 2tr23 2 Ineam• Irom donallom 2023 totul 2022 lolol ltrvesfricted Restricted Th55 Day Fo￿d￿￿on Poul Han￿ Fovndation Ronk l¢JJndolion 125,C 125.C 125,COJ 175.C(K) 185.(KYJ Al income in 2cr22 was urwesfvicted 3 In¢¢)m• fvom ch¢Jllobl• o¢ll r2 Total Ltrest￿Clea Restricted GuKled Pwamrre5 GuKled Pwomfr435 onli￿ le(rrirrfJ Organisolionol LearThng ond Develc¢Yn8nl Commvnity Prw¢)mmes 72.154 76.442 13.644 166,168 72.154 76.442 13.644 106.16 74.013 126.967 10.258 24.807 I￿,704 74.013 Tolol Ir￿Orr￿ 328. 74.013 28?.736 Total I￿on Irom choriloble octivities 328. 74.013 402.422 28?.736 Incom in XJ22 coffprfsed ol wrestri¢led ol £XI7.736 orK1 feslncled irKr)mo 01 £75.IXA). 36

Clore Social Leadership Sknff c0515 14¢4• dl lullk)n 47 8T.314 150.?66 122.44B IOIAB4 15317 zopl 4J Slofl andohar stollcoj 41 2.Tr1 IT.J17 9SJ 12.377 .956 49.316 Omc• co$15 %.433 J45 1.15? 14P.IN J4.171 1•4.£58 17Jll ?J17 4J< 174m7 &n2 Jn.•Ji 232.77B x)¢,118 38

Clore Social Leadership Th• CIof• Soclol L•adwsNp ProsYarMI• Not•1 lo th• Ilnu•cld sl¢•m•nts Far lh• •ar •nd•d 31 O•c•mb•f 2023 5 N•1 Incany r•s¢Mxc•s lar lh• y• Thi5 is stoted olter chorgng I crediting: 2023 2022 DeFyecKJtion Auditors. remwwaticn lexclu(fjry VAn: Avdil TrL6tees' eypenses 1.495 2.158 10.248 14.lyj 4 Andyth ol thll coth. truJl•• r•nwn•rolon ond •xp•nMi. lh• c¢MI ol k•y nKThJg•m•nt p•nonn•l Staff costs wwe as lolm. 2023 2022 Salories ond %￿ge$ SocTral security costs Errpknyer's conlrbJlion to d8fned conlribJlion pen5ian Sche￿￿9 314.9SS 29.973 371.461 39.477 10.347 349.aao 421.285 The Ic41oNMThJ rKmber ol enM)loy6ès received emr4oyee l)en8fits lex¢hJYing empby8r pernion costs) ￿￿Ing tha year in t¥]r¥JYigs ot costs Gyeoler Ihcn £éOLW. 2023 No. 2022 No. £tSO.IJJ). £69.999 £70.C(LI- £79,999 The total emrloyee benefits incI￿a￿a pensi(￿ contrbvliors of Ihe key rTrJrwement pe￿0￿1. moae vp of Ihe Cluel Execvtive Olficer. the Dyectry ol Finonce & Operohons. the Cectof ol Leodwthip Progrommes. Ihe Dweclor ol Mtheting & Convnuricalions, the Dreclor of Dyilol Lec¥ning ond the Dyector ol Develcpment, were £2s3.3771￿22.' £XL.5411. The chcrfty trustees were nol Fold ￿￿CeIVed (￿Y olher benefits frcm enwk)ymenl vilh Ihe ch￿fy in Ihe year 12022: No chorify ￿$tee received p(rY￿￿t lor rxofeyioTr]I cx olher services to the chortfy12022: Owing the yeor. ITV51ee w05 r•rr*MJ5ed travel eXp￿se$ ol nl12022'. nll. 39

Clore Social Leadership Th• Clor• Soclal L•ad•rshlp Pm6Yamm• Not•s to lh• fflnandal atal•m•nts 7 Staff numb• The overoge Thjmbef ol enwbyees Iheod cO￿t bosed on nunbw ol staff enNSoyedl ￿Ing the yeor wos as lollows.. 2023 No. 2022 No. Cost ol rotsing funds Gvided Pr(y3ramrr45 Online LeofftirwJ C¥9ani50tionol Leaming and Devebopment ComrThJThty Progfaffmes Govemonce ond svppcrft 02 0.4 The overoge weekty ThJmb8r ol offybyeos IIL&tiff eqLMvdentl tt period wos 05 l0llows: 2023 Xi22 No. No. Cost ol ratsino funds Guided Prcoromrns Online Le¢mi C¥o2ni50tional LeamirvJ Devebcpnwnt ComrThJThty Pfograffmes Govemonce ond svpp 0.8 0.2 0.4 R•lal•d ptyfy troMa¢ll•ns There lye no olher related pcrty trOr￿ac￿nS lo d￿Close fcff 3)23 IXYX2: r￿n81. 40

Clore Social Leadership Th• Clor• So¢lal L•adMthp Not•¥ to lh• llnlxKk￿ ￿l•n￿nts 9 Toxollon The chorilolje compony t5 exerrpt frcmn ccrfptyolion tax to the exenl ttMJl d its income is chuiloue ond 15 opFJied Icy charilotrje puposes. 10 TafiG4bl• fa•d aM•ts Comwter equbF)rMnl Al the slcfft ol Ihe Addition5 in yeor 24.727 24.n7 At Ihe end ol the ye 24.727 24.727 D•w•clallon At Ihe slcfft ol Ihe ye Chorge for I1￿ year 23,232 1.495 23.232 1.495 Al Ihe erKJ ol the ye l)ook volu• Al lh• •nd ol lh• y• 24.727 24.727 At Ihe st￿ ol Ihe ya of th8 d)ove o55ets used C￿li10bh0 pwpcBes. 1.495 1.495 2023 2022 Other deblo Prewyrr*nts arva 110.442 2.916 116.34S r2,916 12 Cr•dll¢r& amovThts fdllng du• fityllNn y• X123 XJ22 Trade creditc Taxalion and ￿￿K]I secifflty oth￿ credilus AccnJats De1￿￿a ncome Inole 131 3.150 9.130 887 40.582 51.324 2,745 17.102 2,125 .421 122574 113.0 7,967 41

Clore Social Leadership Th• Ckn• Socld L•od•rshlp Prowimm• Not•s lo lh• flnarbclal slal•m•nts 13 D•l•rr•d Incom• Deferred incorro corryises rtsreived d￿¥)9 the yeu for fuhKe yeo 2023 21Y22 Balonce al the teginThng ol the yec Amount released to I￿on￿ in the yeor Ar￿Unt delwred in the ye( 122.574 (122.574) 59.324 67.CO) 167.C¥]01 122574 Balonce at the end ol ts yeor 59.324 121574 14 Anonclal In*wn•nts X123 2022 C(Yrylng fxn4wnl al Ilnon¢lql qswts Debt Inslnjmenls measured al amortsed cost 110.462 92.916 C¢xrylng <XTM)vnl ol Ilnonclal Ilobllv MeosLved at om(xhsed cost 44.625 &8.291 15 Anglyth ￿ fb•l w¥•ts b•lw••n fvndj Gerwol vrKffitricted Deygmled Totgl fvnds Reslricled Tangib￿ fixed ossets Net cvffenl 05sets 246.783 128.39J 375.133 N•1 au•ts at lh• •nd ol lh• y• 246,783 128.350 375.133 GeneToI vr¥esfricled Desbw3ted Tolgl lunds Restricled TanGibkg f￿ad assets Net cwent 05sets 1.495 374.865 1.41S 406.090 91.T25 aM•ts al lh• Jlart ol lh• y•¢Y 376.300 91.225 467.58S 42

Clore Social Leadership Th• Ck¥• Soclol L•(xl•rshlp ￿￿¥TrYn• Not•s lo lh• fin￿CIal thtt•m•nts 14 Mov•m•nts kn l￿d$ IncorrifVJ (XJIQ￿nQ At l ￿￿￿ceS & resoLvce5 & 2￿23 ooir6 losses A131 D•¢•mb•r 2023 TTon51e R•thct•d ffftdL' Guided Program￿$ Coffrnjnity Progfomms 47.24S 43.9 47.245 81.105 74.013 136.8881 Total r•thcl•d l￿dI 91.225 74.013 136.8881 128.350 Umskl•d lundi: G•nwal Ivnth 376.361 19.￿) 1639.2081 240.783 Totol Ivnds 376.361 1639.3J81 246.71J Total l￿di 467.586 583.644 1676.CP71 375,133 lrtorryrwJ tgoiro At l resowces & resowce5 & goins k)sses D•c•mb•r Trons18 R•thct•d Iwbdk. Guided Progromme Comrwnity Progrommes 149.310 170.6 75.(XX) {177.CQ51 1126.7LKJI 47.245 43.980 Tolol r•thd•d fwds 319.990 75.C£O IXJ3.7051 11,225 Unr•skt•d lufith: G•n•wal Ivnth 562.057 393.574 1579.3Jll 376.311 Total vrw•thl¢hd lyn 562.057 393.574 1$79.3XJI 376.301 Total l￿dI 882.047 468.574 1883.0351 467.58é Transfws include.. ove￿penI restricled ￿Onts transfeThed trom ganeral fwth. TrOr&fe￿ beNwn woiects a￿eed V•ilh I￿. 17 Pwpos•s ol r•strlct•d funds Guided kxogrorrwr* fvjnds were L￿d Several kycqorr¥nes reaching high4evel beodef5 ￿ the sectcw. Bolonces ot year end will be caaied lowyd for the coftwelion of the wjgammes dwro 2C124. CorrrnJnity F￿0gr￿nrn8 4¥11 b8 Used a wie5 01 h80de￿i develo[￿1 FYogo1r￿r￿5 in EnGlarKI and Woles. 43