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2022-01-31-accounts

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2022

CHARITY REGISTRATION No: 1139295 COMPANY REGISTRATION No: 7127238

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

1

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Pages 3 to 9 Report of the Directors
Page 10 Statement of Financial Activities
Page 11 Balance Sheet
Pages 12 to 19 Notes to the Financial Statements
Page 20 Independent Examiners Report on the Accounts.

2

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1139295

COMPANY REGISTRATION NUMBER 7127238 START OF FINANCIAL YEAR 1st February 2021 END OF FINANCIAL YEAR 31st January 2022 DIRECTORS THAT SERVED Brendan O'Shea (Chair) - resigned 31st May 2021 DURING YEAR TO 31ST JANUARY 2022 Matthew Cammidge Ben Gardner (Chair as from 31st May 2021) Clare Tunbridge Stephen Miles Glen Robinson (appointed 2nd August 2021) REGISTERED ADDRESS 146 New London Road Chelmsford CM2 0AW DATE OF INCORPORATION 16th January 2010

GOVERNING DOCUMENT Memorandum and Articles of Association incorporated 16th January 2010 as amended by Special Resolution at Companies House on 11th October 2010.

BANKERS

The Co-operative Bank PO Box 101 1 Balloon Street Manchester M60 4EP

INDEPENDENT EXAMINER Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

3

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

Our Mission

We are Emerging Leaders and we exist to unlock Human Potential, through mindset and behaviour change, transferable leadership skills, financial literacy and entrepreneurship to empower people in vulnerable communities with the mindsets, motivations and skills to flourish.

What

How

Why

Our Objectives

The charity's objectives ("the objects") are for the public benefit and are restricted to the following:

a) to relieve the needs of persons who are in need due to age, sickness, disability or financial hardship including but not by way of limitation those infected and affected by hiv/aids in sub Saharan Africa and in such other parts of the world and by such charitable means as the trustees may from time to time think fit;

b) to advance education generally for the benefit of children disadvantaged or marginalised by reason of their economic or geographic circumstances in sub Saharan Africa and such other parts of the world as the trustees may from time to time think fit;

c) to promote sustainable development for the benefit of the public by the relief of poverty and the improvement of the conditions of life in socially and disadvantaged communities and the promotion of sustainable means of achieving economic growth and regeneration.

Sustainable development means "development which meets the needs of the present without compromising the ability of future generations to meet their own needs"

Public benefit and where we work

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided throughout this report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

In 2021/22 Emerging Leaders supported projects in Africa: Kenya & South Africa. Asia Pacific: India.

Our Impact in 2021/22

Whilst the effects of COVID19 pandemic continue to restrict our ability to deliver training in some locations, our team on the ground, after the easing of restrictions has enabled face to face training to commence once again.

March 2021 saw us launch the Uwezo Kwa Vijana Project, in Kenya, in partnership with Rising Tide Foundation. The initial 2 months of this 4 year project was focused on recruiting a brilliant Project Manager and two M&E assistants to input data and collect stories ready to commence Phase 1. These combined with our lead trainer & part time operations person formed the core team which enabled us to mobilise and train 1680 unemployed young people from informal urban poor communities in Nairobi & Naivasha. We re-freshed our small team of 4 associate community trainers who combined with Peter were able to successfully reach our target, hit our milestones as agreed with funders and impact the lives of the youth. Of those trained so far 55% have started income generating activities and we have been learning a great deal through our Monitoring, Evaluation and Learning processes which have enabled us to refine the programme to be more effective and impactful as the year has progressed. Weekly reviews of data has enabled us to be highly responsive to what the information was showing us. We have developed good collaborations and partnerships.

4

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

In addition, in Kenya we were asked to be part of a larger FCDO funded project with MM Flowers, Fairtrade and multiple retailers to empower vulnerable flower farm workers to start Income Generating Activities (IGAs) that would complement rather than conflict with their work commitments. Although we were only requested to participate at short notice, we were able to mobilise our team on the ground and be in the field at short notice. 170 workers received the training, with 25% provided with seed funding to support start-up of their IGAs. Of those who received seed funding 100% started an IGA returning income equivalent to at least 50% of their salary within 3 weeks. Whilst funding was not made available to all 170 workers 45% of those not receiving funding still started an IGA returning an income within 3 week and we are hopeful after saving that number will increase. We were also able to empower 80 vulnerable workers in the Mt Kenya region as part of a Fairtrade Premium project focused on HIV / cancer sufferers to break a cycle of dependency of handouts and help them start livelihood projects to better support themselves.

In India we have continued to remotely support smallholder farmers in India through WhatsApp calls and once COVID restrictions were lifted we were able to provide mango farmers with a refresher / mobilising half day training aimed at reaching more farmers. This formed the platform for a full 3 day LFL training with 60 farmers in November focused on diversity and productivity. 30 new farmers were recruited through invitation of other farmers and the sensitisation day. 30 were returning farmers looking to revisit principles that were changing their lives.

In South Africa we have been able to recommence training. We have delivered training to 40 farm workers with ABInBev focused on building capacity and also seeking to address the increasing alcohol dependency amongst those in the farm communities. In addition we provided training on 8 Fruit Farms and one new supply chain contact, LVG, in Pretoria. As well as the supply chain work, we partnered with a collaboration of organisations and funders to provide empowerment training to communities in Kwa Zula Natal, devastated by rioting. The focus was on the community ‘mummas’ with improving well being, financial literacy and empowering them to start social / income projects to help rebuild their communities. The project has been very successful, reaching 400 people, with the face to face element a crucial factor and more training is now planned for the future.

Achievement against objectives set

We have continued to seek to empower people in vulnerable communities with the mindsets, motivations and skills to flourish. Increasingly this has brought a focus on transferable leadership skills to bring agency to those in communities; financial literacy skills and entrepreneurship / livelihoods trainings.

We have sought to do that once again in multiple settings:

Our previous board chair finished his tenure with Emerging Leaders in May 2021 having agreed to complete the successful transition from founder driven to leader led organisation. Ben Gardner agreed to take on the role as new board and Glen Robinson joined the team to bring his experience in business and sales / marketing as we seek to leverage new opportunities.

We have been able to use funds provided by Small Foundation to engage with Spring Impact and develop a clear plan to scale. This has helped us gain clarity about what outputs we would focus on, the kind of partnerships we need to build and areas we need to strengthen and develop. Better understanding the gatekeepers, strategic partners and the makeup of likely licensees gives us a good framework on which to build.

5

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

Plans for the future

Commence Phase 2 of Uwezo Kwa Vijana, Kenya by identifying, training and recruiting 34 new community trainers selected from youth who have already benefited from the programme. These will then take the LFL programme back into their communities and reach a further 6000 youth this next year - 16,000 in total by close of the project.

Strengthen our M&E team in Kenya by training and recruiting 8 youth who have been through the programme to support the collection of data and stories from the field.

Recruit additional M&E lead into Kenya so our M&E overview & lead comes from on ground experience. This moves this role from remote to face to face.

Developing additional partnerships in Kenya which will build a more sustainable platform for extending the growth of the reach into vulnerable communities. Having delivered some community pilots with Rotary, we are looking to extend the programme to reach multiple communities over the coming year as part of the Uwezo Kwa Vijana project. We would also like to develop a partnership with Farm Africa to support more vulnerable communities across the supply chain in Kenya.

Broaden our partnership / project base in India to provide ways to scale reach and impact.

Build on the successful pilot in Kwa Zula Natal to reach and empower more communities post the riots & pandemic.

Identify trusted partners and shape / develop and trial first licensee agreement so we can review processes, explore opportunities and understand any potential risks.

Fundraising policy

We engage with businesses, foundations, statutory funders, and trusts in order to raise our income and some public fundraising. Our approach to fundraising is driven by our mission.

Our fundraising strategy has three main elements:

Safeguarding

We continue to improve our safeguarding standards and establish excellence. We have reviewed our policies and procedures and continue to prioritise this area of work along with the need to maintain a high standard of duty of care, especially during a global pandemic, towards our staff and associates when engaged on Emerging Leaders work.

6

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

Financial review

Income for the year is representative of the continued impact of COVID-19, at £228,804 (£184,099 2020/21). The principal sources of funding have come from the ongoing delivery of projects in partnership with M&S PLC and CAF funding through M&S PL as well as.the ongoing three year partnership with innocent drinks PLC established in 2020. The beginning of 2021 also saw the commencement of a four year project with the Rising Tide Foundation.

The following key financial events have impacted our expenditure during the year:

Restricted Income

In 2021 we have seen the restricted reserves remain unchanged. The ongoing balance is held for our ongoing work in supporting communities in 2022/2023.

In order to best reflect the nature of future and ongoing planned projects into 2022/2023 we subsequently see an increase in the carried forward balance of Unrestricted income as compared to 2021/2022. Any held balances reflect a timing difference between financial reporting and ongoing contracts.

Risk management

The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions.

The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate significant risks.

Reserves policy

The Directors have considered the level of reserves they wish to retain, appropriate to the charity’s size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.

Unrestricted funds, which also represent our reserves, stood at £72,395 (2020/21: £92,665). This level of reserves at 31 January 2022 is considered to be sufficient to support the ongoing activities and development of Emerging Leaders.

Restricted funds not available for the general purposes of the charity stands £22,379 as at 31 January 2022.

Investment policy

In light of the Charity’s size of operations all income received is required as working capital and to fulfill our reserves policy. As such Emerging Leaders have no cash invested in short or long term deposits.

Working capital and reserve requirements continue to be monitored and reviewed on a quarterly and annual basis by the board.

7

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

Going concern

In order to assess the appropriateness of the going concern assumption basis, the Trustees have considered the charity’s financial position, reserves and forecasts for the foreseeable future particularly in light of COVID19.

They have considered the assumptions underlying those forecasts and the impact of the potential risks affecting them. Having made those enquiries, the Trustees have a reasonable expectation that the group will be able to continue in operation and meet its liabilities as they fall due for at least twelve months from the date of signing this report.

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

Structure, governance & management

The organisation is a charitable company limited by guarantee, incorporated on 16 January 2010 and registered as a charity on 9 December 2010. The company was established under a Memorandum of Association which established its objects and powers and is governed under its Articles of Association (as amended October 2010).

The Board of Trustees, together with the chief executive officer are set out at the start of this document.

The Board meets at least three times a year. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.

Appointment of new directors is subject to the Governing Document. Any person who is willing to act as a director, and is permitted by law to do so, may be appointed to be a director by ordinary resolution or by a decision of the directors. No person who is not a member shall in any circumstances be eligible to hold office as a director.

Statement of responsibilities of the trustees

The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:-

The Directors are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

8

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2022

The Directors are also responsible for the contents of the Report of the Directors, and the responsibility of the independent examiner in relation to the Report of the Directors is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

I approve the attached statement of financial activities and balance sheet for the year ended 31st January 2022 and confirm that I have made available all information necessary for its preparation.

Date: 30th September 2022

Signature: Stephen Miles, Chief Executive Officer

9

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JANUARY 2022

Incorporating income and expenditure account

Notes
INCOME
Income from:
Donations and legacies
3a
Other trading activities
3b
Charitable Activities
3c
TOTAL INCOME
EXPENDITURE ON:
Raising Funds
4a
Charitable activities
4b
TOTAL EXPENDITURE
NET INCOME/EXPENDITURE
Transfer between funds
5
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022/21
2021/20
£
£
£
£
127,475
101,267
228,742
184,099
0
0
0
0
62
0
62
0
127,537
101,267
228,804
184,099
1,773
131
1,904
1,930
165,084
82,086
247,170
193,785
166,857
82,217
249,074
195,715
(39,320)
19,050
(20,270)
(11,616)
19,050
(19,050)
0
0
92,665
22,379
115,044
126,660
72,395
22,379
94,774
115,044

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 12 to 19 form part of these financial statements.

10

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31ST JANUARY 2022

Note
BALANCE SHEET
Fixed Assets
Tangible assets
2
Current Assets
Debtors
6
Cash at bank and in hand
Total Current Assets
7
NET ASSETS
FUNDS OF THE CHARITY
General Funds
Designated Funds
Restricted Funds
TOTAL FUNDS
Creditors: amounts falling due within one year		 Company registration number: 7127238
Unrestricted
Restricted
31-Jan-22
31-Jan-21
Funds
Funds
Total
Total
£
£
£
£
2,503
0
2,503
3,411
58,765
0
58,765
20,000
0
137,214
22,379
159,593
130,607
195,979
22,379
218,358
150,607
126,086
0
126,086
38,974
72,395
22,379
94,774
115,044
72,395
0
72,395
92,665
0
0
0
0
0
22,379
22,379
22,379
72,395
22,379
94,774
115,044

DIRECTORS' RESPONSIBILITIES

The charitable company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 20.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

Approved by the Directors on the 30th September 2022

Signed on their behalf by Director: Stephen Miles, Chief Executive Officer

11

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2022

1. ACCOUNTING POLICIES

Basis of preparation:

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102

Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.

Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period.

Material prior period errors

No material prior year errors have been identified in the reporting period.

The particular accounting policies adopted are set out below.

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

Incoming Resources with related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

Government Grants

The charity has received government grants in the reporting period, relating to the HMRC job retention scheme.

Tax reclaims on Donations and Gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered

Gifts in Kind

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

12

EMERGING LEADERS

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

1. ACCOUNTING POLICIES

Incoming Resources

Donated Services and Facilities

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.

Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Expenditure and liabilities

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance Costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Foreign Currency

Where sums originally denominated in foreign currency have been included in income, those sums have been translated into sterling at the monthly average exchange rate for transactions occurring in that month.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Assets

Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is calculated at a rate to write off the cost less estimated residual value of tangible fixed assets over its expected life. The rates used are:

Computer Equipment 25% straight line
Fixtures and Fittings 25% straight line

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts

13

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

2. TANGIBLE FIXED ASSETS

Computer Fixtures &
Equipment Fittings Total
£ £ £
Cost 01-Feb-21 3,631 0 3,631
Additions 0 0 0
Cost at 31-Jan-22 3,631 0 3,631
Depreciation 01-Feb-21 220 0 220
Charge 908 0 908
Depreciation at 31-Jan-22 1,128 0 1,128
Net Book Value 31-Jan-22 2,503 0 2,503
Net Book Value 31-Jan-21 3,411 0 3,411
3. INCOME
a) Donations and legacies Notes Unrestricted
Funds
£		 Restricted
Funds
£		 TOTAL
TOTAL
2022/21
2021/20
£
£
Funding for Training 81,592 62,277 143,869
66,311
Funding Contribution for Charitable Activities 14,500 10,500 25,000
15,120
Funding Contribution for Administrative Costs 10,875 0 10,875
22,965
Grants and Donations 71 14,490 14,561
71,475
Grants - HMRC Job Retention Scheme 20,437 0 20,437
7,978
Fees for Service (2022/21: supply chain programme) 0 14,000 14,000
250
127,475 101,267 228,742
184,099
b) Other trading activities
Other income 0
0		 0 0
0
0
0
c) Charitable Activities
Miscellanous Income 62 0 62
0
62 0 62
0
4. EXPENDITURE
a) Expenditure on Raising Funds Unrestricted
Funds
£		 Restricted
Funds
£		 TOTAL
TOTAL
2022/21
2021/20
£
£
Fundraising 216 0 216
297
Promotional/Networking 1,209 131 1,340
0
Website Costs 348 0 348
1,633
1,773 131 1,904
1,930

14

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

4. EXPENDITURE

b) Expenditure on charitable activities
Furthering charitable objectives
Bank Charges (Inc. ATM machine)
Computer & Internet
Consultancy Costs
Country Office (Inc. Salaries):
India Office
Kenya Office
South Africa Office
Depreciation
Employee Development and Expenses(related to professional development)
Equipment Expensed
Exchange Rate Variance
Insurance
Meeting Costs
Monitoring and Evaluation
Other Miscellaneous Expenses
Project Based Salaries
Refreshments, Entertainment and Gifts
Salaries
Subscriptions and Licences
Tax, NI and Pension Contributions
Training - Other
Training - Materials and Incentives for Participants
Travel Costs
Support and governance
Bookkeeping and Payroll Fees
Independent Examiners Fee
Office and Administration
Professional Fees		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022/21
2021/20
£
£
£
£
81
0
81
750
116
0
116
107
3,063
21,994
25,057
9,025
28,927
0
28,927
31,000
259
56,779
57,038
18,285
9,019
0
9,019
0
908
0
908
220
0
422
422
0
0
0
0
301
910
0
910
971
1,195
0
1,195
1,210
368
0
368
308
0
1,506
1,506
941
7
78
85
62
27,000
1,000
28,000
28,298
108
42
150
202
58,502
0
58,502
68,923
655
0
655
593
27,335
0
27,335
27,774
44
0
44
0
0
0
0
109
3,444
265
3,709
710
1,811
0
1,811
1,152
1,320
0
1,320
1,290
10
0
10
1,200
0
0
0
354
165,084
82,086
247,170
193,785

Support and Governance Costs

Bookkeeping and payroll fees
Office and administration
Independent examiners fees
Professional fees		 2022/21
Support
Governance
Total
Basis of
Apportionment
£
£
£
1,811
0
1,811 Direct cost
10
0
10 Direct cost
0
1,320
1,320 Direct cost
0
0
0 Direct cost
1,821
1,320
3,141

15

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

Details of certain types of expenditure

2022/21 2021/20
£ £
Independent examiner’s fees 1,320 1,290
Assurance services other than audit or independent examination 0 0
Tax advisory fees 0 0
Other fees (for example: financial advice, consultancy, accountancy services) paid to the 210 0
independent examiner
1,530 1,290
5. RESTRICTED FUNDS
This year Balance
01-Feb-21		 Income
Expenditure		 Capital
Expenditure		 Transfers
Btw Funds		 Balance
31-Jan-22
M&S CAF £
0		 £
£
0
0		 £
0		 £
0		 £
0
Rising Tide Foundation 22,379 101,267
82,217		 0 (19,050) 22,379
22,379 101,267
82,217		 0 (19,050) 22,379

The restricted funds principally relate to the services we provide to donors and partners that we work with in providing training in supply chain and community projects. The restrictions are applied on a project by project basis. Any held balances reflect a timing difference between financial reporting and ongoing commitments and any unplanned surpluses are transferred to general funds to be spent on the charitable objectives of the charity .

The restricted funds are represented by:

Cash at bank and in hand 31-Jan-22
£
22,379
22,379
Last year
M&S CAF
Rising Tide Foundation		 Balance
01-Feb-20
£
10,007
0		 Capital
Transfers
Balance
Income
Expenditure
Expenditure
Btw Funds
31-Jan-21
£
£
£
£
£
0
12,136
0
2,129
0
22,379
0
0
0
22,379
10,007 22,379
12,136
0
2,129
22,379
The restricted funds are represented by:
Cash at bank and in hand		 31-Jan-21
£
22,379
22,379

6. DEBTORS AND PREPAYMENTS

Training Funding Unrestricted
Restricted
Total
Total
Fund
Fund
31-Jan-22
31-Jan-21
£
£
£
£
58,765
0
58,765
20,000
58,765
0
58,765
20,000

16

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

7. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accountancy Fees
Deferred Income
Independent Examiners Fees
Pension Contributions
Salary/Expenses/HMRC
Sundry Creditors
8. STAFF COSTS AND NUMBERS
Gross Wages and Salaries
Employer's National Insurance Costs (after allowance)
Employer Pension Contributions
Employees who were engaged in each of the following activities:
Activities in furtherance of organisation's objects		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Jan-22
31-Jan-21
£
£
£
£
210
210
0
116,977
0
116,977
34,467
1,320
0
1,320
1,290
0
0
0
255
0
0
0
2,958
7,579
0
7,579
4
126,086
0
126,086
38,974
31-Jan-22
31-Jan-21
£
£
104,886
116,134
6,688
7,272
2,263
1,612
113,837
125,018
31-Jan-22
31-Jan-21
TOTAL
TOTAL
3
3

Number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards:

Band Number of employees
£60,000 to £69,999 1
£70,000 to £79,999 0
£80,000 to £89,999 0
£90,000 to £99,999 0
£100,000 to £109,999 0

From May 2020, three employees were paid through the PAYE system. One employee received emoluments in excess of £60,000 (2021/20: One employee received emoluments in excess of £60,000)

The total amount paid to key management personnel (includes trustees and senior management) for their services to the charity was £106,394 (2021/20: £82,765).

17

EMERGING LEADERS

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

9. PENSION SCHEME

The charity operates a government backed workplace pension scheme and all eligible employees were enrolled and given the option to opt out if they so wish. The charity paid employer contributions totalling £2,263 during this financial year on behalf of three employees (2021/20: £1,612 on behalf of three employees), and this amount is recognised as an expense in the Statement of Financial Activities.

10. DIRECTORS AND OTHER RELATED PARTIES

In this financial period the charity has paid directors remuneration and benefits (including Employer NI and Employer Pension contributions) as follows:

Name of Director
Legal authority
Stephen Miles (from February 2020)
Governing document
In the period the charity has paid directors expenses as follows:
Number of directors who were paid expenses
Amount Paid
Contribution to home working
Mileage
Meetings, events and refreshments
Other travel (flights, train tickets, parking, accommodation)
Telephone
Total amount paid
£
* note that the contribution to home working is processed via the		 2022/21
2021/20
Remuneration
Consultancy
TOTAL
TOTAL
£
£
£
£
68,380
0
68,380
67,887
68,380
0
68,380
67,887
2022/21
1
£
312
*
78
11
1,511
0
1,912
payroll.
Amounts paid or benefit value

Reimbursement to directors of items purchased on behalf of the charity totalled £0 (2021/20: £518) during this financial year.

No related parties received remuneration in this financial year (2021/20: A related party to one director received remuneration of £3,835 for their role as programme director for the charity (note: this director resigned from the Board in April 2020). They also received contribution to home working of £62)

No other payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

There were no donations from related parties that require disclosure (2021/20: Nil).

Trustee Indemity Insurance of £289 (2021/20: £343) was paid during the year.

11. RISK ASSESSMENT

The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

12. RESERVES POLICY

The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.

18

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2022

13. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

14. MOVEMENT IN FUNDS

The Company is Limited by Guarantee (07127238) and is a Charity registered with the Charity Commission (1139295) and does not have a Share capital and has no income subject to Corporation Tax.

Current year movement in funds
Unrestricted Funds
General Funds
Restricted Funds
Restricted Funds
TOTAL FUNDS		 At
Net movement Transfers btw
At
01-Feb-21
in funds
funds
31-Jan-22
£
£
£
£
92,665
(39,320)
19,050
72,395
22,379
19,050
(19,050)
22,379
115,044
(20,270)
0
94,774

Net movement in funds, included in the above are as follows:

Unrestricted Funds
General Funds
Restricted Funds
Restricted Funds
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted Funds
General Funds
Restricted Funds
Restricted Funds
TOTAL FUNDS		 Income
Expenditure
Movement in
funds
£
£
£
127,537
(166,857)
(39,320)
101,267
(82,217)
19,050
228,804
(249,074)
(20,270)
At
Net movement Transfers btw
At
01-Feb-20
in funds
funds
31-Jan-21
£
£
£
£
116,653
(21,859)
(2,129)
92,665
10,007
10,243
2,129
22,379
126,660
(11,616)
0
115,044

Net movement in funds, included in the above are as follows:

Unrestricted Funds
General Funds
Restricted Funds
Restricted Funds
TOTAL FUNDS		 Income
Expenditure
Movement in
funds
£
£
£
161,720
(183,579)
(21,859)
22,379
(12,136)
10,243
184,099
(195,715)
(11,616)

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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the trustees on my examination of the accounts of Emerging Leaders for the year ended 31st January 2022.

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

Responsibilities and basis of report

I report in respect of my examination of the charitable company's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: J Irvinesmith FCIE

Date: 6th October 2022

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

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