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2022-06-30-accounts

Charity registration number 1142874

Company registration number 07568122 (England and Wales)

SOCIAL VALUE INTERNATIONAL

COMPANY LIMITED BY GUARANTEE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Simon Faivel (Co-Chair) Mr Richard Kennedy (Co-Chair) Mr Pieter Oostlander Mr Chiayuan Wu Ms Stephanie Robertson Ms Joanne Nicholson Ms Sara Olsen Ms Catherine Manning (Appointed 27 January 2022) Ms Chun Chun Ada Yip (Appointed 25 January 2022) Secretary Mr Ben Carpenter Charity number 1142874 Company number 07568122 Registered office LCVS Building 151 Dale Street Liverpool L2 2AH Independent examiner Anita C Mason BA(Hons) BFP FCA Suite 5.1 12 Tithebarn Street Liverpool L2 2DT Bankers National Westminister Bank plc Charing Cross Branch PO Box 113 Cavell House 2A Charing Cross Road London WC2H 0PD

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE CONTENTS

Page
Trustees' report 1 - 7
Statement of trustees' responsibilities 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Notes to the accounts 12 - 20

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

The trustees present their annual report and financial statements for the year ended 30 June 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and activities

About Social Value International

The objects of the Charity are the advancement of education and the promotion of the effectiveness and efficacy of charities, in particular (but not exclusively) by supporting research and best practice into social impact analysis and disseminating the useful results thereof.

Background

On 3 September 2014 a Collaboration Agreement between the boards of directors of SIAA and The SROI Network Limited (a company registered in Scotland SC3C22057) was signed.

The Collaboration Agreement outlined that between 3 September 2014 and the AGM (7 July 2015) SIAA and The SROI Network Limited would merge their international activities to form Social Value International.

Legally SIAA became Social Value International (10 September 2014) and The SROI Network Limited became Social Value Network UK (18 February 2015), one of Social Value International’s affiliated constituted National Member Networks.

Vision

A world where decision making, ways of working and resource allocation are based on the principles of accounting for value leading to increased equality and well-being and reduced environmental degradation.

Mission

To change the way society accounts for value through principles, practice, people and power:

1. Principles : Our principles will lead to the inclusion of social, environmental and economic value in decision making.

2. People : We will build and support a network of like-minded individuals who want to work with us to put these principles into practice.

3. Practice: We will develop guidance, tools, and support to help put the principles into practice.

4. Power: By connecting these individuals and supporting their learning, growth and influence we will build a movement to change the way society accounts for value.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

The Principles of Social Value

We believe that better decision making, that takes account of the social and environmental value that arises from organisations’ activities and changes in resource flows, will only be possible - at scale - if the way in which that value is accounted for is:

• flexible enough to recognise different sources of value in different contexts; and

• consistent enough to still allow decisions to be made that aim to increase social value.

As a result we support an approach to accounting for value that is based on The Principles of Social Value.

The Principles provide the basic building blocks for anyone who wants to make decisions that take a wider definition of value into account, in order to increase equality, improve wellbeing and increase environmental sustainability. They are generally accepted social accounting principles.

The Principles:

1. Involve stakeholders – Inform what gets measured and how this is measured and valued in an account of social value by involving stakeholders.

2. Understand what changes – Articulate how change is created and evaluate this through evidence gathered, recognising positive and negative changes as well as those that are intended and unintended.

3. Value the things that matter – Making decisions about allocating resources between different options needs to recognise the values of stakeholders. Value refers to the relative importance of different outcomes. It is informed by stakeholders’ preferences.

4. Only include what is material – Determine what information and evidence must be included in the accounts to give a true and fair picture, such that stakeholders can draw reasonable conclusions about impact.

5. Do not over-claim – Only claim the value that activities are responsible for creating.

6. Be transparent – Demonstrate the basis on which the analysis may be considered accurate and honest, and show that it will be reported to and discussed with stakeholders.

7. Verify the result – Ensure appropriate independent assurance.

8. Be responsive – Respond to measurement by making decisions to optimise impacts on wellbeing for all materially affected stakeholders

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

Theory of Change

Social Value International aims to achieve its charitable objects as a membership body and network.

While Social Value International’s focus is on supporting social impact analysts and practitioners as a community of people, the network also supports a wider group of professionals involved in this space.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

Achievements and performance

1. Annual Conference

The annual Social Value Matters (SVM) conference took place on the 20th and 21st October 2021, and was delivered in partnership with Social Value Thailand. Approximately 900 people had tickets for the conference, including 100 speakers, 380 international attendees (from 47 countries) whilst the rest were from Thailand. Due to the sponsorship of SVM2021, we were able to offer 100 x scholarship places to individuals from almost 30 countries, plus free tickets to all students.

Preparations begun for the 2022 Social Value Matters conference scheduled for October 2022 and in partnership with Social Value Italia.

2. Strategy development and fundraising for Social Value International

Social Value International has been working to develop its strategy and explore new sources of funding for the organisation.

Headline achievements

Membership and Networks

Developing SVI Standards:

Campaigning and thought leadership:

Convergence and collaboration with other standard setters:

Project work:

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

2. Support for existing and emerging National Member Networks.

The development of an affiliation model has enabled Social Value International to articulate a shift in strategy from focusing primarily on delivering international membership to supporting the development of National Networks.

Headline achievements

Financial review

Total income for the year amounted to £257,451 (2021: £302,069) this includes membership income of £34,595 (2021: £27,415). Total expenditure amounted to £289,083 (2021: £208,039). Overall, this has resulted in a loss for the year of £31,632 (2021: surplus of £94,030). This resulted in the available unrestricted funds of £77,084 at the year-end (2021: £108,716).

Reserves policy

Reserves are required to allow for any funding gaps that may arise because of different timing of income and expenditure across the financial period and to cover unpredicted future expenditure, and to allow for possible emergency expenses. The charity is holding £77,084 in unrestricted reserves which is sufficient to cover future liabilities.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error

Plans for the future

Our plans for the next year focus on developing people and practice by growing and supporting international networks as either affiliates or as national members including:

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

Structure, governance and management

Governing document

The Social Impact Analysts Association (SIAA) was incorporated as a limited liability company (number 07568122) in March 2011 and was registered as a charity in England and Wales (number 1142874) in July 2011. The registered company name was changed on 10 September 2014 to Social Value International.

Social Value International is governed by a Memorandum and Articles of Association (hereafter M&A).

Members of the board of trustees are also the directors of the company and set Social Value International’s overall strategy, yearly budget and have the final say in any hiring decisions.

Trustees have delegated responsibility for the management of Social Value International to an executive team, who report on Social Value International’s activities and financial performance at regular trustee meetings.

Any decision of the trustees must be either by decision of a majority of the trustees present and voting at a quorate trustees’ meeting or when a majority of the trustees indicate to each other by any means that they share a common view on a matter.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Simon Faivel (Co-Chair) Mr Richard Kennedy (Co-Chair) Mr Pieter Oostlander Dr Terence Yuen (Resigned 25 January 2022) Mr Chiayuan Wu Mr Jeremy Nicholls (Resigned 26 July 2021) Ms Stephanie Robertson Ms Joanne Nicholson Ms Sara Olsen Ms Catherine Manning (Appointed 27 January 2022) Ms Chun Chun Ada Yip (Appointed 25 January 2022) Mr Davide Dal Maso (Appointed 26 January 2023)

Recruitment and appointment of the board

Social Value International’s Articles of Association state that up to 7 Elected Trustees can be appointed to the board at the AGM and up to 4 Co-opted Trustees will be appointed by the board from time to time. The M&A specify a minimum of two trustees on the board.

Trustees serve for a three-year term and must retire after this period, but shall be eligible for reappointment. Trustees serve for a maximum of 10 consecutive years, following which they must take a break from office and may not be reappointed until the anniversary of the commencement of his or her break from office.

Management and staff

Social Value International was led by a full time Chief Executive with support from a full-time Head of community & Engagement, a full-time Membership & Projects Coordinator, a part-time Marketing & events Coordinator and a part-time Finance & Administration Officer.

The Co-Chairs of the board of trustees' line manage the Chief Executive, and together with all the trustees are ultimately responsible for the strategic running and governance of Social Value International.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

How we achieve public benefit

The trustees have given consideration to the Charity Commission’s guidance on public benefit.

As outlined in this report Social Value International has delivered benefit to professionals in the field of social impact measurement and accounting for social value, and therefore in the organisations and communities in which they are operating.

The revised mission and strategic aims for Social Value International demonstrate a continued commitment to supporting charities and a range of other organisations to take into account social and environmental value in their decision making. The beneficiaries of Social Value International are therefore anyone helped or influenced by such organisational activity.

All our activities have done and will continue to contribute to our strategic aims and are for the benefit of the public.

Small companies provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The trustees' report was approved by the Board of Trustees.

..............................

Mr Richard Kennedy (Co-Chair)

Trustee Dated: .........................31 March 2023

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2022

The trustees, who are also the directors of Social Value International for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOCIAL VALUE INTERNATIONAL

I report to the trustees on my examination of the financial statements of Social Value International (the charity) for the year ended 30 June 2022.

This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving 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 financial statements to be reached.

Anita C Mason BA(Hons) BFP FCA

Suite 5.1 BWM Chartered Accountants 12 Tithebarn Street Liverpool L2 2DT

31 March 2023 Dated: .........................

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2022

Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 3 55 115,665
Charitable activities 4 222,801 158,989
Other trading activities 5 34,595 27,415
Total income 257,451 302,069
Expenditure on:
Raising funds 6 47,395 48,898
Charitable activities 7 241,688 159,141
Total expenditure 289,083 208,039
Net movement in funds (31,632) 94,030
Fund balances at 1 July 2021 108,716 14,686
Fund balances at 30 June 2022 77,084 108,716

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE BALANCE SHEET

AS AT 30 JUNE 2022

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Funds of the charity
Unrestricted funds		 2022
£
46,931
52,050
98,981
(23,084)		 £
1,187
75,897
77,084
77,084
77,084		 2021
£
35,373
115,421
150,794
(43,594)		 £
1,516
107,200
108,716
108,716
108,716

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

24 March 2023

The accounts were approved by the Trustees on .........................

..............................

Mr Richard Kennedy (Co-Chair)

Trustee

Company Registration No. 07568122

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

Company information

Social Value International is a private company limited by guarantee incorporated in England and Wales. The registered office is LCVS Building, 151 Dale Street, Liverpool, L2 2AH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

1.2 Going concern

At the time of approving the accounts the Trustees have considered the impact of Covid-19 on the charity and the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Membership income is recognised over the period of membership.

1.5 Expenditure

Costs are allocated directly to the activities to which they relate. Costs incurred in support of expenditure on the objects of the charitable company or in raising funds are recognised as support costs. Support costs are allocated between charitable expenditure headings on the basis of the average amount of management time spent on each activity.

Governance costs comprise the costs of the charitable administration and complying with constitutional and statutory requirement aspects of the charity.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ (expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income and gains falling within these exemptions.

The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

2 Critical accounting estimates and judgements

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

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

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 55 115,665
Charitable activities
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Training income 58,154 32,450
Services provided 805 1,465
Consultancy 159,965 125,074
Annual conference fee 3,877 -
222,801 158,989
Other trading activities
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Membership subscriptions and sponsorships which are in substance a payment
for goods and services 34,595 27,415

4 Charitable activities

5 Other trading activities

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

6 Raising funds

7 Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
Fundraising and publicity
Support costs (see note 8)
47,395
48,898
Charitable activities
Social and environmental Value
Unrestricted
funds
Unrestricted
funds
2022
2021
£
£
Depreciation and impairment
411
101
Consultancy
67,172
64,256
67,583
64,357
Share of support costs (see note 8)
167,516
85,516
Share of governance costs (see note 8)
6,589
9,268
241,688
159,141

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

8 Support costs

Staff costs
Exchange Losses
Office costs
Communication
Independent examination
fees
Accountancy
Legal and professional
Bank charges
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
145,734
-
3,050
-
33,259
-
32,868
-
-
660
-
2,559
-
1,779
-
1,591
214,911
6,589
47,395
-
167,516
6,589
214,911
6,589		 2022Support costs Governance
costs
£
£
£
145,734
90,574
-
3,050
1,285
-
33,259
21,996
-
32,868
20,559
-
660
-
450
2,559
-
1,220
1,779
-
6,000
1,591
-
1,598
221,500
134,414
9,268
47,395
48,898
-
174,105
85,516
9,268
221,500
134,414
9,268		 2021
£
90,574
1,285
21,996
20,559
450
1,220
6,000
1,598
143,682
48,898
94,784
143,682

Support costs are recharged between costs of raising funds and social and environmental value activity on the basis 25% / 75 % which is based on time spent by management.

Governance costs are recharged to social and environmental value.

Governance costs includes payments to the accountants of £660 (2021: £450) for independent examination fees and £2,559 (2021: £1,220) for accountancy services.

9 Employees

The average monthly number of employees during the year was:

Administration
Wages and salaries		 2022
Number
5
2022
£
145,734		 2021
Number
4
2021
£
90,574

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year (2021: none), and no trustees were reimbursed expenses (2021: none).

11 Tangible fixed assets

Cost
At 1 July 2021
Additions
At 30 June 2022
Depreciation and impairment
At 1 July 2021
Depreciation charged in the year
At 30 June 2022
Carrying amount
At 30 June 2022
At 30 June 2021
12
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
14
Trade creditors
Other creditors
Accruals		 Computers
£
1,617
82
1,699
101
411
512
1,187
1,516
2022
2021
£
£
41,072
29,514
5,859
5,859
46,931
35,373
2022
2021
£
£
3,783
7,237
8,735
32,249
7,926
1,450
-
609
2,640
2,049
23,084
43,594		 Computers
£
1,617
82
1,699
101
411
512
1,187
1,516
2022
2021
£
£
41,072
29,514
5,859
5,859
46,931
35,373
2022
2021
£
£
3,783
7,237
8,735
32,249
7,926
1,450
-
609
2,640
2,049
23,084
43,594
1,699
101
411
512
1,187
1,516
2021
£
29,514
5,859
35,373
2021
£
7,237
32,249
1,450
609
2,049
43,594

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

14
Deferred income
Other deferred income
Total deferred income at 1 July 2021
Amounts received in the year
Amounts credited to statement of financial activities
Total deferred income at 30 June 2022
15
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost		 2022
£
8,735
32,249
8,735
32,249
8,735
2022
£
93,122
10,566		 2021
£
32,249
-
32,249
-
32,249
2021
£
144,935
4,108

SOCIAL VALUE INTERNATIONAL COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

16 Related party transactions

Richard Kennedy, a trustee of the charity, is also a director of Social Value Network UK.

During the year Social Value International made purchases totalling £20,478 (2021: £44,830) from Social Value Network UK for services provided. £12,600 of these purchases related to decoupling services.

Richard Kennedy resigned as a director of Social Value Network UK on 13 October 2021.

The trustees are also the key management of the charity and are not remunerated for this role (see note 10).

Jeremy Nicholls, who resigned as a trustee of the charity on 26 July 2021, received consultancy fees of £13,650 during the year.