OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-01-31-accounts

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

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 8 Report of the Directors
Page 9 Statement of Financial Activities
Page 10 Balance Sheet
Pages 11 to 18 Notes to the Financial Statements
Page 19 Independent Examiners Report on the Accounts.

2

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST JANUARY 2023

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1139295 COMPANY REGISTRATION NUMBER 7127238 START OF FINANCIAL YEAR 1st February 2022 END OF FINANCIAL YEAR 31st January 2023 DIRECTORS THAT SERVED Matthew Cammidge DURING YEAR TO 31ST JANUARY 2023 Ben Gardner (Chair) Clare Tunbridge Stephen Miles Glen Robinson

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 31[ST] JANUARY 2023

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 2022/2023 Emerging Leaders supported projects in Africa: Cameroon, Kenya & South Africa. Asia Pacific: India. Americas: USA, Nicaragua, Ecuador, Peru & Columbia. Europe: Spain

Our Impact in 2022/23

After a successful launch of the Uwezo Kwa Vijana, in Kenya, in partnership with Rising Tide Foundation in 2021, this year was all about building scale. Youth who had been through the programme in Phase 1, had started businesses, had shown initiative and desire to change their circumstances were invited to apply to become community trainers to scale the programme. In April 2022, 60 youth attended a Train the Trainer event for 5 days in Nairobi. A combination of upfront

4

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] JANUARY 2023

training, practice sessions, feedback from peers and coaches built confidence in themselves and the material. At the conclusion 30 community trainers were selected along with 10 support personnel who would offer remote support to participants coming through the programme. These youth were placed into pairs so they could support each other with the pairs grouped with 3 other pairs into a trainers hub supported by one of the coaches. In the initial delivery of their training coaches were present to offer both support and feedback. In their first 6 months the youth trained 4,500 young people with 38% starting businesses within 3 months.

In addition, in Kenya we partnered with Flamingo & COOP in the Inua Dada Project to empower female workers from across their supply chain farms in Kenya. Our focus was to provide livelihoods training to empower women to start additional income projects that would compliment rather than conflict with their work commitments. Productivity and attendance have gone up in the time after the training as well as improved worker / manager relationships. We also partnership with Farm Africa & Waitrose Foundation to provide training to 600 farm workers with a similar focus on livelihoods. In this initiative for every worker there was a ‘free place’ to either a spouse or unemployed youth from the same family unit to help increase household income.

In India we followed up with the small-holder farmers who had been through the training in 2019 and discovered that 3 years after the training income had increased by 273% and saving by 183%, despite the impact of COVID and flooding which decimated their primary cropping

In South Africa we have been able to extend the partnership with the Wyre Project - a collaboration of organisations and funders to provide empowerment training to communities in Kwa Zula Natal, devastated by rioting. The focus was again on the community ‘mummas’ and youth with improving well being, financial literacy and empowering them to start social / income projects to help rebuild their communities. The project has built on the learning and success of the initial pilot to reach a further 800 people, with the face to face element a crucial factor.

Finally Emerging Leaders extended it’s reach into vulnerable supply chains in Latin America in collaboration with innocent drinks. Programmes were run in both Ecuador & Columbia supporting small holder farmers build climate resilience in the face of variable pricing and rising living costs.

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:

5

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] JANUARY 2023

Plans for the future

Continue to scale the Uwezo Kwa Vijana programme to reach a further 9,000 youth in 2023 and 18,000 total by close of the project.

Continue to develop 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. Having run a successful pilot with Farm Africa and Waitrose Foundation we would like to develop a partnership with Farm Africa to support more vulnerable communities across the supply chain in Kenya and provide ongoing training opportunities for excellent trainers.

Engage additional M&E insights using external partners to better understand the impact on both income and well-being those who go through our programmes.

Conclude our schools pilot providing mindset change, english and career planning skills to youth in 3 schools in 3 cities, with Cummins, in India. Then to scale this project further into 6 cities.

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

Launch and scale ‘Cup of Ambition’ in partnership with M&S to impact smallholder farmers in their hot drinks supply chain.

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.

Financial review

Income for the year is, at £327,015 (£228,804 2021/22). The principal sources of funding have come from the ongoing delivery of projects in partnership with M&S PLC and as well as the ongoing three year partnership with innocent drinks PLC established in 2020. We are in year three of a four year project with the Rising Tide Foundation.

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

6

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] JANUARY 2023

Restricted Income

In 2022 we have seen the restricted reserves used up, with no ongoing restriction.

In order to best reflect the nature of future and ongoing planned projects into 2023/2024 we subsequently see an increase in the carried forward and deferred balances 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 £103,218 (2021/22: £72,395). This level of reserves at 31 January 2023 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 reduced to £nil as at 31 January 2023 (2021/22 £22,379).

Investment policy

In light of the Charity’s size of operations all income received is required as working capital and to fulfil 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.

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.

7

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31[ST] JANUARY 2023

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.

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 2023 and confirm that I have made available all information necessary for its preparation.

Date: 7th August 2023

Signature S Miles Stephen Miles, Chief Executive Officer.

8

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JANUARY 2023

Incorporating income and expenditure account

Notes
INCOME
Income from:
Donations and legacies
3a
Charitable Activities
3b
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
2023/22
2022/21
£
£
£
£
33,064
285,935
318,999
228,742
8,017
0
8,017
62
41,080
285,935
327,015
228,804
599
130
729
1,904
84,741
233,101
317,842
247,170
85,340
233,231
318,571
249,074
(44,260)
52,704
8,444
(20,270)
75,083
(75,083)
0
0
72,395
22,379
94,774
115,044
103,218
0
103,218
94,774

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 11 to 18 form part of these financial statements.

9

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31ST JANUARY 2023

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-23
31-Jan-22
Funds
Funds
Total
Total
£
£
£
£
687
0
687
2,503
99,550
0
99,550
58,765
0
4,401
180,183
184,584
159,593
103,951
180,183
284,134
218,358
1,419
180,183
181,602
126,086
103,218
0
103,218
94,774
103,218
0
103,218
72,395
0
0
0
0
0
0
0
22,379
103,218
0
103,218
94,774

DIRECTORS' RESPONSIBILITIES

For the financial year ending 31st January 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 10 to 18 were approved by the Trustees, and authorised for issue on 7th August 2023 and signed on their behalf by:

Stephen Miles, Chief Executive Officer

10

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

1. ACCOUNTING POLICIES

Basis of preparation:

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and 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 not received government grants in the reporting period.

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.

11

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

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

12

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

2. TANGIBLE FIXED ASSETS

Cost
01-Feb-22
Additions
Disposals
Cost at
31-Jan-23
Depreciation
01-Feb-22
Disposals
Charge
Depreciation at
31-Jan-23
Net Book Value
31-Jan-23
Net Book Value
31-Jan-22		 Computer
Fixtures &
Equipment
Fittings
Total
£
£
£
3,631
0
3,631
0
0
0
(1,982)
0
(1,982)
1,649
0
1,649
1,128
0
1,128
(578)
0
(578)
412
0
412
962
0
962
687
0
687
2,503
0
2,503

3. INCOME

Notes
a) Donations and legacies
Funding for Training
Funding Contribution for Charitable Activities
Funding Contribution for Administrative Costs
Grants and Donations
Grants - HMRC Job Retention Scheme
Fees for Service (2022/21: supply chain programme)
b) Charitable Activities
Miscellanous Income
Training Income
4. EXPENDITURE
a) Expenditure on Raising Funds
Fundraising
Promotional/Networking
Website Costs		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/22
2022/21
£
£
£
£
0
224,754
224,754
143,869
14,000
31,000
45,000
25,000
7,000
23,250
30,250
10,875
64
5,000
5,064
14,561
0
0
0
20,437
12,000
1,931
13,931
14,000
33,064
285,935
318,999
228,742
0
0
0
62
8,017
0
8,017
0
8,017
0
8,017
62
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/22
2022/21
£
£
£
£
257
0
257
216
195
130
325
1,340
146
0
146
348
599
130
729
1,904

13

EMERGING LEADERS

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

4. EXPENDITURE

b) Expenditure on charitable activities
Furthering charitable objectives
Accommodation
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)
Exchange Rate Variance
Health and Safety
Insurance
Loss on disposal of Fixed Assets
Meeting Costs
Monitoring and Evaluation
Other Miscellaneous Expenses
Postage & Delivery
Printing & Reproduction
Project Based Salaries
Project Expenses - Other
Refreshments, Entertainment and Gifts
Salaries
Subscriptions and Licences
Training - Other
Training - Materials and Incentives for Participants
Training - Supplies and Equipment
Translation Costs
Travel Costs
Support and governance
Bookkeeping and Payroll Fees
Independent Examiners Fee
Office and Administration
Professional Fees		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/22
2022/21
£
£
£
£
184
2,698
2,882
0
352
0
352
81
915
0
915
116
4,826
22,549
27,375
25,057
0
6,362
6,362
28,927
29,670
145,711
175,381
57,038
0
0
0
9,019
412
0
412
908
195
126
321
422
(1,675)
0
(1,675)
910
145
0
145
0
1,245
0
1,245
1,195
204
0
204
0
322
0
322
368
0
1,123
1,123
1,506
15
314
329
85
7
0
7
0
64
0
64
0
0
33,500
33,500
28,000
0
2,896
2,896
0
558
672
1,230
150
43,187
0
43,187
85,837
538
0
538
655
0
0
0
44
0
2,585
2,585
0
11
26
37
0
282
780
1,062
0
644
13,759
14,403
3,709
427
0
427
1,811
1,410
0
1,410
1,320
53
0
53
10
751
0
751
0
84,741
233,101
317,842
247,170

Support and Governance Costs

Bookkeeping and payroll fees
Office and administration
Independent examiners fees
Professional fees		 2023/22
Support
Governance
Total
Basis of
Apportionment
£
£
£
427
0
427 Direct cost
53
0
53 Direct cost
0
1,410
1,410 Direct cost
751
0
751 Direct cost
1,231
1,410
2,641

14

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

Details of certain types of expenditure

2023/22 2022/21
£ £
Independent examiner’s fees 1,410 1,320
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 0 210
independent examiner
1,410 1,530
5. RESTRICTED FUNDS
This year Balance
01-Feb-22		 Income
Expenditure		 Capital
Expenditure		 Transfers
Btw Funds		 Balance
31-Jan-23
M&S Food £
0		 £
£
85,431
31,181		 £
0		 £
(54,250)		 £
0
Rising Tide Foundation 22,379 120,091
146,597		 0 4,127 0
Small Foundation 0 21,913
21,994		 0 81 0
009 Innocent 0 58,500
33,459		 0 (25,041) 0
22,379 285,935
233,231		 0 (75,083) 0

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 . This is in accordance and agreed with the donors.

The restricted funds are represented by:

Cash at bank and in hand
Deferred Income		 31-Jan-23
£
180,183
(180,183)
0
Last year
Rising Tide Foundation		 Balance
01-Feb-21
£
22,379		 Capital
Transfers
Balance
Income
Expenditure
Expenditure
Btw Funds
31-Jan-22
£
£
£
£
£
101,267
82,217
0
(19,050)
22,379
22,379 101,267
82,217
0
(19,050)
22,379
The restricted funds are represented by:
Cash at bank and in hand
Deferred Income		 31-Jan-22
£
139,356
(116,977)
22,379

6. DEBTORS AND PREPAYMENTS

Training Funding Unrestricted
Restricted
Total
Total
Fund
Fund
31-Jan-23
31-Jan-22
£
£
£
£
99,550
0
99,550
58,765
99,550
0
99,550
58,765

15

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

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

Accountancy Fees
Deferred Income
Independent Examiners Fees
Salary/Expenses/HMRC
Sundry Creditors		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Jan-23
31-Jan-22
£
£
£
£
0
0
210
0
180,183
180,183
116,977
1,410
0
1,410
1,320
9
0
9
0
0
0
0
7,579
1,419
180,183
181,602
126,086

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		 31-Jan-23
£
72,517
2,696
1,474
76,687
31-Jan-23
TOTAL
2		 31-Jan-22
£
104,886
6,688
2,263
113,837
31-Jan-22
TOTAL
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

Until March 2022, three employees were paid through the PAYE system. From March 2022, two employees were paid through the PAYE system. One employee received emoluments in excess of £60,000 (2022/21: 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 £70,552 (2022/21: £106,394).

16

EMERGING LEADERS

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

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 £1,474 during this financial year on behalf of three employees until March 2022, and two employees from March 2022 onwards (2022/21: £2,263 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
Governing document
In the period the charity has paid directors expenses as follows:
Number of directors who were paid expenses
Amount Paid
Other travel (flights, train tickets, parking, accommodation)
Total amount paid
£		 2023/22
2022/21
Remuneration
Consultancy
TOTAL
TOTAL
£
£
£
£
68,723
0
68,723
68,380
68,723
0
68,723
68,380
2023/22
1
£
332
332
Amounts paid or benefit value

Reimbursement to directors of items purchased on behalf of the charity totalled £0 (2022/21: £0) during this financial year.

No related parties received remuneration in this financial year (2022/21: None)

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 (2022/21: Nil).

Trustee Indemity Insurance of £606 (2022/21: £289) 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.

17

EMERGING LEADERS (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JANUARY 2023

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 At Net movement Transfers btw At
01-Feb-22 in funds funds 31-Jan-23
£ £ £ £
Unrestricted Funds
General Funds 72,395 (44,260) 75,083 103,218
Restricted Funds
Restricted Funds 22,379 52,704 (75,083) -
TOTAL FUNDS 94,774 8,444 0 103,218
Net movement in funds, included in the
Unrestricted Funds
General Funds
Restricted Funds
Restricted Funds		 above are
Income
£
41,080
285,935		 as follows:
Expenditure
£
(85,340)
(233,231)		 Movement in
funds
£
(44,260)
52,704
TOTAL FUNDS 327,015 (318,571) 8,444
Comparatives for movement in funds
Unrestricted Funds
General Funds
Restricted Funds
Restricted Funds		 At
01-Feb-21
£
92,665
22,379		 Net movement
in funds
£
(39,320)
19,050		 Transfers btw
funds
£
19,050
(19,050)		 At
31-Jan-22
£
72,395
22,379
TOTAL FUNDS 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		 Income
Expenditure
Movement in
funds
£
£
£
127,537
(166,857)
(39,320)
101,267
(82,217)
19,050
228,804
(249,074)
(20,270)

18

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 2023.

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

The charitable company's gross income exceeded £250,000 and I am qualified to undertake the examination by being a fellow member of the Association of Charity Independent Examiners.

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: 22nd August 2023

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

19