ENAcfus UK Trustees, Annual Report (Induding Dlrertorf Report) 2023
REFERENCE AND ADMINISTRATIVE DETAIL5 TRUSTEES The followin8 trustee5 have served throughout the period to which this report lateS unless otherwise indicated: Robin Lasslter Ichair) Dr. Mel Fuller Chris Lane {Resigned 1510712023) lan Ellis (Appointed 15/0712023) Julla Dobson t>onna Miller Helen Ots IRes18ned 0510812023) Geraldine Burnett (Appointed 2910412024) COMPANY SECRETARY Andrew Bacon OBE REGISTERED OFFICE Enattus UL 7 Wadklns Way. Bushby, Leicestershlre. LE7 9NA INDEPENDENT EXAMINER Azets. st. Davlds Court, Union Street, Wolverhampton, West Midlands. WVI 3JE BANKERS HSBC UK PLC SOLiaTORS Bates Wells, london WEBSITE COMPANY NAME Enactus UK COMPANY NUMBER 04358202 CHARITY NUMBER 1155261 The trustee5, who are direttors for the purposes of company law. present the annual report together with the financial statements of the charitable company for the period ended 315t December 2023.
CONTENTS Foreword Trustees, Report Impact Report 11 Governance 16 Financial Review
FOREWORD When I look back on 20231 am so proud of the athlements our sbjdenty volunteers, sponsors ar executlve team have delivered. As you ¥AII see from the rewlt4 have positlvely imparted more beneficlarfe5 aeross both ow EMctus UK unl¥er51ty pro8rarnme and our NextGenLeaders sthools programme and encryJr¥nth we are dellverin8 postsvety a8airtst the UN sustalnabje goal& Or agaln, I would Ilketothank OUrdorr$. partnersand sponsorsforthelrsupport In makIthiS possible. Promotlng youth soclal actk>n and sod enterwtse is at the heart of w• set out to do; encouraglng and harnesslr% the energy and drTr•e of our parttytiry students whlle leveraglng the eap•bilitles and skills otlndustry and commercethroush oUr5pOrOrSand partners. The comblnation Ip5 us delfver thE fijlfilment of good deeds arnl 1Trtentkn on an ever-larger scale. Importantly. the Individual project benefKI?rles-of all a8es- both pin confklence •nd 8•in directly from learning and acqulrlng new skills,. this helps Inc¥ease thelr employabllityas 11 thelrown c•p4clty for Self4. Yourrft people urKler 25 swrs old are kry taw In helpln8 rTrate and deltver thelr proJ¢¢ts; crltrcally they a150 benefft themselve5 frorn den8 thelr own tsl¢nts 4rKI sodal enterpr15e capabllltte& As w• enter a more dngIng and unknown workl. our aims for creattbw more of a falr and •n8•Bed sodety Wh1 d¢veloplr¥ ouryoury people are more thtkal than ever. We have contlnued <)ur work under three m?In stream& Firrtty. our well est•bllshed unlverdty Pfo8ramm• whlth has Cl1nued to 80 fram strerw to streiwh. This ar we were pleased to lcome the Irlsh Enactus unlversitle< teams Into our pro8r•mme and rn•kJw our programme even more exdtlr%. Secondty, NextGenLe•ders, whlth Is our5dNl programme, operatSn8 In the Yorkshire arta. We are really exclted ty the results we are continuin8 to see and the future opportunitles. Our thlrd rtr8am rs research lead, and have ntInd to develop our approach, pedagoBy •rMI programme •nd Its Impart folknwln8 ourcommlssloned researth whlch waswklely published In 2022. Wt are very pleased to work5n8 doselv YorkSTJohn Unfversfty •nd this •xcltln8 develoFYnent allows us to focus on and make sorne rcommendatk)ns on the bl8 Issues foclry the educatlon of yotsn8 peopl¢ both rthv Ind In the firture. Tumlnq to the trustees, thls ywr, Chrls lane •nd Helen Ots mAde the dedslon to step h¢k from th• Trust bo¥rd. I would Ilke to thankthern both fortheIr9Jprt and w5sdorn, itwlll be missed. Followln8 the end of the year we Ire very pleased to appoint Geraldine Bum•tt to our board and we wlll contlnue to lookto add new pewe to ensurethatwe hathe rlghtsklllsforthe next excItI ch8ptsr of ourjounxy. I would Ilke to thank the truths for the suppor¢ time and help they 8lve to r and the executfve tearn, Itls reallyappreci•ted. Hnally, I would Ilke to thank all those Invoknl - the stleThts, our. buneSS partners and their emplo5, our funders. our Enactus UK alumnl and also th? many iNllvidual mentors and unlverstylsthool staff forthe enragement of the thde I would Ilke kn thank the Enictus LIK executive teem for their dedication. Thry may be Small In number but thelr Impxt is massfve. Whatever we ask of t}). resp1 PDSit•veiy with wtNtty. speed arml alway5 wlth a smile on theirfaces. You wlllftnd a summaryoftlx verywide raryof aLtfvrts undertaken In 2023 En•ctus UK In order to suC55fv1 de fver ouralms and obleL1fve4 within thls reporL Enactus UK Tntstee Annual Rewt 2023
TRUSTEES, REPORT The uned Nations Sustainable Development Goab {SDGsl provlde the UK with a unlque oprtunIty to eradlcate poverty. reduce inequalities, combat catastrophic cllmate thange protect our natL4ral environment by 2030. While there is an enormou5 amount to celebrate. the rnost vulnerable places and people in our Society are increaslngty being left behlnd. The social moblllty gap Fs widening. We have a food system that stru88les to provide healthy, sustainable, dfvee dlets for everyone In the UK. We have htgh and 8rowin8 levels of obesity, and the highest leveb of household food Insecurlty in Europe. Calorles from healthy fth)d tonsrstently cost more than calorles from unhealthv foods. And the wealthler you are. the higher p)rtlon of household Income is asslgned to consuming vegetables. Thls has a dlrect Impatt on health and wellbeln& with obesity and poor diet linked to kev heatth issues Includln8 heart disease. diabetes and cancer. Poverty was once considered a concern of more 'developin8 countrles. than the UK. Yet we have recently seen the emer8ence into publlc awareness, the leve15 of 'period F#)verty amon8 YOUft8 8lrls In the UK and the fart that the number one reason why under ten-year-okls attend Accident & Emergency 15 dental poverty. We lfve surrounded by the 26% of young people on free School mea15 who will never fulty partklpate In sports or the arts. As well as 8overnment. respon51ble buslnes5 and social enterprlse has • critKal role Sn deliverin8 the solutrons and support to the above. and In so dolw old the implementatlon of the SDGS. Some UK businesse5 and soclal enterprlses hive already p05itTrvefy resp)nded to these challenges and the SDG agenda, reco8nlslng the etonomlc opportunities as well as the envin)nmental ur8enry. We work to en8a8e buslne55e5 of all sizes to revSew how they can coltsL*)rate wlth and to devek)p the future Beneratlon of responslble le•deYs to addre55 these challenge5 and meet the delivery of the SDGS In the UK, and to collaborate wlth others to address them. We call ihls envlronment Enartus entrepreneurfal action for the benefit of all of us. Dell¥erln8 our •lrns and obJectl¥es Enactus Is the Ufs leadln8and MOA establlshed youth socialartlon ¥ndyouth 50clal enterprise charlty supportin8 teams, now having reached over 4,IMXI young people in 2023. from across the UK each vear slnce 2001. Our mlsslon In the UK is to grow the impact of a natioMI network of more envlronmental and soclalty-mlnded young responsible leaders who experlence and leam trom the practical action of transfwmln8 local communitles and society through real.lrfe social aCtn and Sustalnable enterprSse. Enactus UK Is dedicated to creatin8 a better workl whole de¥elopln8 the next generatlon of entrepreneurlal youn8 leaders and soclal Innovator5. The Enactus network of buslness, academk and younB leaders is unifred by our vlsron-to ate a better, more sustalnable worfd. At Enactus we believe that investing youn8 leaders who take entrepeuri0I action for others creates a better world for us èll. Our students each year are enteneurfial, values4ri¥en soclal innovators from acros5 65 unfvetslty campuse5 and schools. Posltlvely knpartin8 the 15ve5 of people each year. Guided by educators and 5UPPOrted by business leaders, our young teams conduct needs assessments in their communttle5 identify potentlal solutions to complex tssue5 and Implement communhy Impact projects. Thls results In communitles beneffting from collaboratlon and f$h 5nnovatlon. plus Students gain the valuable
experlence to a(fvance thelr personal and professlonal lives. As In business, we belreve that competitSon encourages innovatn. For Enartus. this means more lives imparted every day. Whh a head for business a hean lorthe world. we Ilve our valu¢5 of Intwltyi passlon. innovatl¢M and collaboratlon. The chartty alms to advance education and learnin8 in IM4ess, commerce and entrepreneurshlp. with a partKular focus on developln8 soclal enterpri%e. The charlty alms to promote Industry, commerce. and 50clal enterprise which: relleves poverty enable5 empltyment advances health advances environmental proteclion dellver5 SUStalnabFlity Thb enables the advancement In life of Ung peoplethrough the provlslon and facilitation of suppor¢ tralnln8 and development actfvltles to delrrfer projects which develop thelr 5kllls. capabilltles, and leadershlp capacbty. Thi5 helps them to partklpate In sodety as mature, responsible and soclally con5ck*us IndlviduaLs. Enactus UK Trustee Annual Report 2023
IMPACT REPORT Overview of the Enactus UK Unlverth Programrne Enactus UK succeeded in 8rowlng the prograrnme of sodal impart and Innovation In 2023. In ternis of widenlng particlpat#)n, the number of educational partners In Higher Educatn increased to over 65. The number of young people gIstered as attive Enattus team members numbered over 4.1Mi this year lan inC3$e from 3,5LJ) In 20211. Enactus UK Invested £40,IXX+ in soclal enterprlse projects In 2023. We look forward to further yowth in both the number. and dlverslty of young people Invofved In 2024. Our network of over 4,IXK) students invested 4(1).¢ hou of tlme, sUPPOrted ty over 350 bu51ne55 mentors. plus alumni and academic volunteer5 and mentors, then dellvered: (er 2(Xl sodal enterprlse prOts In ihe UK. A measureable improvemeni In the Ihdihood5 of local people impartln8 17ALKI115,CM)O In 20221 beneficlarles ran8iTr8 In a8e from O to 94 years old. Projects impartln8 all 17 of the UN SDG'S. 40+ physkal enga8ement events. A programme with 78% non-Russell Group unlversltles and ? 60.40 female to male particlpatlon Supportin8 evldence of the Impad of programme Indudes". On average, Enactus team mernbers are IO% more 5•tlsfled wlth thelr Unlverslty eXPernCe than non-Enattus members. Enactus chan8emakers consisientty outperform thelr peers In top skiifs Identlfted in the Workl Economic Forum pOrt'Futu ofjobs, as benchmarked by Unlversum. Enattus UK & Ireland particlpants are connected to a 35$trOng network of buslness leaders. entrepreneurs, and other professlonals who guide, advise and support throu8h 1-2- I mentorln8 and advlce. Supportln8 testlmonlats Inejude". Impact On: Gltlka Glthv•nl {En•ths OCVI "Enoctus hos truly tronslormedmy lye since Ilolned. ltre wttrfsedfftstthond.the powerof colloborotion. Innovotion, ondsoclolentrepreneutship to creote meoningfvlchanoe In our communltles. Snactus hos notonfyprovldedme wlth involtsoble leodership opportunltle5. buthos ¢71so Instilled in MÈ o deep sense ofpurpose 0ndpaOnfv moking o positlve import. lamforever grotefulfvr the eXPernceS connectlons. ondgrowth thotEnortus h95 brouoht into my ltte, and l om proud to be oport oJsu(h on inspiring organtsotlon." Coath Testlmonial-Alkla Pletkun. W "8ecomlng on Enortus Cooch Is on Immense prlvilege.filled with p0s51on ondfvylllment. ft'5 Incredlbfy rebv6Trdinq to supportsttsdents in louftching their50clentefprlses t7ndcreoting spocesfor others to d050 too. Connertlng wlthfellow coadjes In Insplring. a5 we shore ondsupport eoch Enattus UK Trustee Annual Report 2023
other to empower the Enortus teLYms. Enoctusholds a &eryspecialploce In my heort- developedmyskills os 0 5ttslentond now I get to hone them as o mentor." it¥ where I Project Examples include: Carte - Enactus Sheffield.. Carte enhanos the li¥es of adults wrth learni dlsabifities through collaboratlve art thefapy workshop5. Participants create unique artwork, whlth is trnnsfornied into dlverse products. fostering a sense of accompllshment and emp)werrnenL Nitell8ht- Enactus TU Dublln.. Nlteli8ht is a moblle app for safer ni8htlrfe, offerlng real-tlme locatn trdckin8 to connect frnds, an Al chatbot for support, and venue ratings for safety. It alms to enhanee securty and reduce anxiety •n nightlrfe settlngs, empowering u5er5 to make Infomied decislons #nd fo#erln8 a more In¢hJsfve envlronment. Seeds for Th•¥ht- Enartus S¢)uthampton.' Seeds for Thou8ht alms to b005t fresh vegetable atte55 for primary school chlldren in depthed areas by offerin8 dlrert attess and sustainable farmln8 education, They utlllse hydroponlcs to reduce envlronmental ifflpact whlle promotlr healthy eatin8 hablts and Insplring STEM Interest among children. Souper Fresh- Enactus TCD: Souper F$h produces eco-frlendly soups by uslng surplus whey from chee5emakin8 Instead of iradrt5onal stock, thereby reducln8 energy usa8e and costs whlle mFt*atln8 envlronmental concerns as50clated wlth conventtonal soup productlon methods. Over¥lew of the sthools programme- NextGenLeaders r programme In 2023 Impacted 16 areas of sod•l mobilhy cold spots across West Yorkshlre and consSsted of.. 28 local communlty projects In 28 state sd)ools collaboratln8 with 31 communlty projert partners. A pro8Trmme that empowered 176 youn8 change makers from year group 7 upwards. 40% of whom supported by Pupll Premlurn. Over 36% of the students Identilled as &4ME whkh w•s tw•ce the natlonal werage. In addltlon. the dfverslty of chan8e Makers was demonstrated with the male/female ratio of 3.5.6.5 The totjl number of benefklaries imparted lrythe83 communlty projects amounted to 5.619. PROJECT OUTCOME5 Cr projects: AddSed IS key VN SDGS. especialty Good Health and Wellbein& Quality Educotlon, and Responslbie Consumption and Produrtion. Supported over 6.637 benefKlarles who were tsu8ht preventstr¥e strntegle5 to protect thelr mental health. Enartus UK Tstee Annual Report 2023
Generated 18.915 social medra Impresslons. 7.862 Linkedln and 1,923 *b51te vlstts. SOG17 SOG16 SDG1' SDG15 SOG13 SDG12 SOGII SCrt33 8D910 SOG9 SD¢8 SL 8OG6 SDGS Figure I: Dlrtrfbution of Projert Impact versus UN SDG Example of a news artide: Sheffield pa Academy avrdrded for Communlty ProJe¢t: Sdents trlumphwlth thelr'SafeTogether' sodal Impact projert, deslgned to en$ure streets stay safe for youngpople. Students engaged local stores and buslnesses, gainlng support from the Ilkes of Asda, Lldl and the Post Offlce. AEroup ofYear7-118tudent5 ai Sheffiehl PkACadeMYareceIebtat1llEafter wthnlng a reElonal award for IrInnOvatIVe, multt-yeareommunlty projert 'Safe Together,. BUildti on year8 Ot research and merflngs eonducred iry Btudents over prevlous years. rhls year's ehanganakergroup tookthlngs furtherwith ihelaunch of an'AskforNAk' campalgn - kh alms to make It easAer foryoungpeopie to access help Sn public. Therampalgn gained local trartlon frombuslnesses and rrntfywon them the overall winner's prlze ar a NextGentaderA regional evettt. The ptwess began In Nowmber 2022 after EnartU5 UK Trustee Annual Report 2023
that encourages stuthts acrixs York%hire to be acdvedtizew and makta meanlngful inllnewith the United Nadons, Stainab Development Goals. For this, student$¢hose to taCethe llthdevelopment goal. (Sustainable cltiesandco1mmuH, and uudennt multiple stages of developing theAr project. Ffirstly. students conductedresearcb atprthwand secx>ndary schools to get a better understandlng ofwhat yOUTEpeoplevalueand wdnt ftom thelr local area, bvhich included sendingout questlonnaire5and presentlngthelr Project ttscla$8es. Based on this Infonnation, they theloped a campaign Idea- 'A8kC¢r Nlkl _ to helppromoteand engagèwlth l(al communlty spacesso that yowigpeopkalways haveapkntogo to for advlce and help Should tl need IL Thry then metwlth theSr loeal MPand loeaj Wiee to gathez support for thelr campaign. TheIr1rkga1Tred the support of I(al branches of Udl, the co- opand the PO 0ttSce, who displayed the'AskC¢rNlkP logo In their shop winkn. The project also rweived suppon fromAsda, wffith students pltchlng thefr Ideal to South Yozkshlre L4rertor forAsda, SallyDucketing, who larer Invlted them to speak to Storemanagets In thereglon. Themanagers pledged thelrsupport and have assisted the Students kn taAskngfimd$ for addltlonal resources •$ partofthe carnpa. Ambltlons for the PEoJect ate set tocontlnue, a8 students plan ¢0 expand the support and reach of thetrcampaio]. Keren. a yeario Sdent at Sheffield ParkAcademyi said of the project". 'NextGenLeade has beenaninJptrdtJonalpnyam ¢0 &•apottof. Thrypush us to thlnkoutslde thei1 teach ushowro be.tIve1nlluen andrreateleaders crjrkal n)Indsets who areprepared fo taeklefutureproblem& lam veryhapwtohave takenpattth fhlsprogram." Laura Booth, Leal Practltloner at Sheffield Park Academy, 8ahl. Weare verypr010raUrSfUdet$/0rrhelrhard workon thls prolect, both thl$wtrandlnprevlousyear& Thelrengagemet1n a SLYlal actlonprojeci thaflmprovesandbeneflts ourloralconynuAltyha$i¥en reauy Impressjveandthis NextGenkndersawardls abrllllanttestamenrto that. °I Hvuldlike to thankthe buslnesse$ rhatbavealreadysupponedfhestudents, especiaUyAsda* andllookfojwardtoseelngtheprojeetzrowetytn moreln the Supportln8 te5tlmonlals Include: School Stafl Testlmonlah: Students have engaged realty well with the pro8ramme. They shown so much commitment and enthusiasm to every aspect of the project and have realty enjoyed worklng with the childreft who visited our school. Thev have had overwhelmingly positive feedback on what they have achieved so far and galned confldence from presenting their project at the celebration event. Jo Sergean¢ AlredaleAcodemy The students have been pushed out of thelr comfort zone but have embrdced the unique experiences that the Next Gen Leaders pro8ramme offers. The biggest win for me Isn't the EnactU5 UK Trustee Annual Report 2023 io
trophies, IV5 that these incredible young people rec(wilse that thve developed team- working skllls, presentstion skllls. confiden. communlcatlon skills. resilience and the ablllty to balance priorities- their future applkations are golng to be amazing. Lauren Llewefyn, Gorforth School Communlty Tesllmonlal It was fantastlc to hear so many school groups With Such positlve projects and well thought out and practical approaches to Identifyin8 and tacklin8 communlty problems. Never got chance to have a quick chat with your group from Sheffield who created the Ask for Niv campalgn, but I thought it was a realty well thought out communlty approach to something that clearly had personal slgniflcance for members of their group. their school and der communlty. The fact that the(d gone so far as to create the keychains etc. a8aln showln8 a high level of thought around practtcallties and awareness of an initlatlve that could be adopted in other areas. Really impressed O Mott Woodoll. West Yorkshire Pollce GOVERNANCE Governlng document Enactus UK 15 a charltable compary Ilmlted lry Buarantee (under company number 043582021. Intorporated on 22rf January 22 and registered a5 a tharlty on 9th January 2014 {under ¢harlty number 115526211. The charity ts aoNmed by Its Artkles of Assoc5otroTr whlch establlshed the objectives and powers of the charttable company. In the event of the company beln8 woufKI up, members are Trqulred to contribute an amount not exceedSn8 ÉL Publk benefft The chaiws charttable wrp05e Is enshrlned h> Its objects whlch are forlhe public benefft: Al the advancement of educ•tbn and learnfj In I5$, commerce and entrepreneur5hlp wlth partlcular fo¢us on soclal enterprtse." B) the promotk>n of Industry, commerce and sodal enterprtse whlch: 11 relIe$ povertv. 21 relleves unempknyment. 3) advantts he•tth. 41 adnCeS environmental protection or Impr(Nemert and 5UStalnable dthlopment. and Cl the athRncement in lifp of jUng peopk up to the age of 25 land mature or graduate students enrolled In a pro8Trmme of further. hL4her or port%raduate eduotionl through the provlslon and facilitatlon of support. trainin8 and projetts whkh develop their skills, capacltle5 at)d capabllltles to enable them to partlclpate in sixlety as mure. rtsp(M)slble and socialty conscious Indldua. Enactus UK Trustee Annual Report 2023 li
Thetrustees conflrm that they have due regard tothe Charlty Comml551on'$ 8eneral8uIdan on publle benefft, "Charities and Public Benefft" Sn setting the charity's obiectpies and carryin8 Qut It5 activities. The trustees ensure that the Charis tharStsble wrpose is carrled out for the public benefft through plannin8 and monltoring activities. Charfty Govemance Code The trustees are aware of the principles ol the Charity Governance Code ft•r smaller charitie5 and fegularty consider how to appty those prindples In prartlce to its governance arrangements. The chèrlty meets the key outcomes set out in the Code and implements much of ¢0MMended praCte set out In the Code. Equallty, Dlver51ty and In¢luslon The trustees reco8ni5e why EDI Is Important for the dritY and reBularfy assess the current level of understandln8 across the or8anisatlon. Thls Includes thinkin8 ab)ut and settln8 •pproprlate targets tlilored to the charfty, monitorln8 thelr status and en$Un8 the ri8ht level of transparency of the charilvs progress. TrUeeS understand their safegLtardin8 responslbilit5es and have establlshed approprlate pmcedures that are integrated wlth the risk mana8ement approach of the charity. Thls Includes ensurlng that everyone In contart wtth the ch•rity knows how to speak up and ralse concerns. Recrultment and appolntment of tntstees The trustees. who are also dlreclofs of thecharityforthe purposes of the Componles Act 21X)6. present thelr report wlth the finandal statements of the charity for the yeai ended 31st Decembei 2023. The trustee5 have adopted the provlsions of the Statement of Recommended Practlces ISORPI'Aceountln8 and Reportln8 by Charit, the laiest verslon of whlch was Issued in October 2019. Under the requirements of the tomparf5 articles the trustees are elected to setve for a period of three year5 after whlch they must be re-elected at the next 8oard Meetin8. Allthe Irustees 8lve thelrtlme and expertlse luntarIty and receive no remuneratlon or other beneffts from the ch•rlty. Any expenses redaimed from the charlty a set out in the notes to the accounts. The more tradttlonal buslness and trust governance skllls are represented on the Boanl. In an effort to maintaln and develop thls broad skiii mlx, trustees wlll be requested to provide a Ibt of their skills land update rt each year) and In the erfent of particulai skllls bein8 lost due to retirements. Indlviduals are approathed to offErthemse1 for elertion to the Board. Trustee Indurtlon and ts3lnin8 Where the is a requlrement for a new trustee, thts would be identlfled and the appolntment made by the remainin8 trustee5. The chair of the trustees ts responsiblefDrthe Induttion of any new tStee. which Involve5 awarenes5 of a tnislee'5 re5pons•bilFties. the 8cwemlng document. administrative procedures. the history and philosophical approach of the charlty. Many trustees are already familiar with the practical work of the eharrty havi been Invofved In Enactus UK Trustee Annual Report 2023 12
attivitFes such as the National Competition. and the trainln8 and rnentofin8 of EnartllS Students and team5. Additlonally. new twstees will be invited and encouTr8ed to attend a series of short sesslon5 to familiarise themsefves with the charity and the context within whith It operates. These areJoInt led by the Chalr of the Board and the secretary of the charity. These cLp4er. the obli8ations of Board members the main documents whlch Set out the operdtional framework for the charlty including the Memorandum and Articles resourdng and the curwenl financial position Is Set out In the lJte5t publtshed accounts future plans and oblertfves An informatlon pack will be prtrrfided drawln8 8uklanee from the various Charity Commisslon publlcations slgnposted through the Commission'58ulde"the Essentlal Trustee" as a follow upto thesè se55ions. This wlll be distributed to all newtrumees alon8 wtth the Memorandum and Artlcles and the latest flnanclal statements. Rlsk5 and rlsk manayment The trustees have a d¢ity to identlfy and rev5ew the rb5ks to which the chaflty Is exposed and to ensu èppropriète controls are in plate to provide aSOnable assurance 48ain5t fRud and error. In atcordance wlth the ChaY Comm1s51on's 8uldellnes on management, wtth the è55lsiante of rnana8ement. the trustees cwetsee a rlsk r4lstef. Outllning the potentlal flnanc5al. governan, operational, external and compllance risks the chartty could face. weighing the Ilkellhood and potentlal Impart of each and the current and proposed actions requlred to mltwe those dsks as appfoprlate. The rÈ81ster Is reviewed re8ulaTly by the trustees. who are sattsfied that systems are In place to mlt*te Identlfled SkS to ali •cceptable level. In general, all neee5sary Insurance cfftr5 are In ptsce havln8 recentty been tsp8r4dÈd. and are revlewed as Part of this r15k management process. Internal control rhks are mlnlmlsed ty the Implementatlon of authorisatlons for all major Iransactlons and prolects. Measures are In place to ensure compliance wlth the health and safety of staff, voluntee. tlients and visitots to Enactus •rtfvit5es In the LIK. Where approprlate, fvrther systems or Procedures will be established to mitl8ate ihe rlsks the chaflty face5. Where s18nificant risks to extemal funding arise. a stiate8lc plan which will alkjw for the dlverslfteatlon of funding and attltieS wlll be developed. The prindpol risks and unortalrtles identFfSed by the trvstees forthe tharlty are as follows.. Fub)dra151n8 rlsk. Llquidity and 5ntome risk. The measures tsken by the thèrity to mltigate these risks are 4 follows. Enactus UK Twstee Annual Report 2023 13
Fundmtsinq risk. This 15 the risk that the level or mix of unrestricted and restrkted income is in5uffKient to maintaln or expand our soclal mission and impatt. Enartus UK Trading operates as • buslness4ifven organisatlon governed by representstlves of its corporate swnsors throu8h strategk partnershlps. Enactus UK Tradin8 Ltd. ha5 retained a pipeline of new Sponso to repla those 105t In 2020 due to economic circumstsnces. The trustees are of the View th new revenue streams wlll come from target sponsors as ) result of additional efft>rts In support of buslness development by the trustees and retained tradin8 board members. Ilquldity ondlncome rlsk. Gros5 Income streams can be volatile. whereas the underlyln8 Cost base, whlth Is prlndpally st•ff and ssociated eosts, Ls relatlbtly stabie and recurring. Thè board seeks to malntaln a prudent level ol free reseNe c(wer to eope wlth any fluctuatlons In income and thereby ensure runnlfte costs can be met and that charltable actfvTtles can contlnue to be dellvered wlthout 558nificant dtsruplion. The combination of diffent Income streams of the Tradln8 sub51dlary and the charitable company is also a key part of the strategrf to manage voiatllty In Income streams as it pmldes tost syneryies as well as complementary income stream5. Oryanlsatlonal Structure Enactus UK hjs a Board of a mlnlmum of four trustees who meet at le•st three tlme5 a year and are re5ponslble for the slrate8bc dlreL%lon and polkies of the charlty. The membershlp Is currently made up from a varlety of professlonal backgrounds relevani to the work ol ihe char. The company secretsry also participates In meetln85 of the knrd. Ixrt has no votlng rlghts. A scheme of dele8atlon Is In place and day to dty responslblllty for the provlsk>n of Enadus artfvity and services rests wlth the Chief Executlve. The Chlef Executfve15 responsible for ensurin8 the charhy dellvefs the serylces specified arid th key performance Indlcators are met. The Chlef Operatin8 Offker has Tesponslbiiity for the day to day operdtional management of Enartus UK attfvlt. The Chlef Executive has responslbllty for the supervislon of all charity and tradin8 company staff. Related partles The charmy ha5 a wh01ly-ned subsldlary, Enactus UK Trdd•ng LImed. whith ex15ts to carry out tradln8 actltIeS wilh a 50cial purpose (sodal enterprtsel in der to generate funds for the charlty. The subsidlary Is oveeen by a Board of Dlrert¢xs appointed the charlty. Responslbilttles of the tntstees Company law requires the board of trustees to prepare financial statements for each flnanclal year whlch give a true and fair vlew of the stste of the affairs of the Charitable Company as at the balance shed date and of its incoming iesources and application of resources, includlng income and expenditure. for the financial year. In PparIng the followlng statements, the trustees have seletted suttalAe accounting policies and then applled them consistent, made judgements and estSmates that EnactU5 UKTrustee Annual Report 2023 14
are reasonable and wudent: and prepared the statement on the going concern basls. Membership of the Irt board Member5 of the Board, who are dlrettor5 lorthe prSe0f companylawand Trustees forthe purpose of charty law. who seThed durlng the year and up to the date of this report are sei out on page 2. In accordance wtth company law. as the companvs dlrector5. we certlfy that ihls report has been prepared In accordance with the Sla• provisions of Part 15 of the Companles Act 2LM)6 relatln8 to srnall companles. Remuneration poll¢y The trustees con5kler the board of tnislees and the Chief EXffute Officer to comprise the key management personnel of the charlty in chae of dlrectin& controllln& runniry and operatln8 the charjty on a day-tW basts. The salarles of the CEO and all staff are reviewed periodkally and benchmarked against comparable salary levels for simllar roles in slmilar4ized charitles. and 5alarles are adjusted as approprjbte. In other years, a cost of Ilvln8 Increase Ls con51dered for elvdible staff. Enactus UK Trustee Annual Report 2023 15
FINANCIAL REVIEW Over¥lew The Trustees present thelr report and flnandal statements forthe rended 31 December 2023. The flnandal ststements have prepared In accordance wlth the accourtlng polkies set out In note I to the flnanclal statements and compty with the charws 80verni documen¢ the Companle5 Act 26and,ACeOun1l and Reportin8 Charltles: 5tstement of Recommended Practlte appllcable to Charlties preparln8 thelr accounts in accordance wlth the Flnancial ReporUn8 Stsndard appllcable in the UK and Republic of Irelalbd {FRS 102) leffedi¥e l January 20191." The trustees have p•ld due regard to guklae Issued by the Cornmbslon In decklln8 wh actlvltle5 Ihe charity should undertake. The trustees have assessed the maAor rfsk5 to whlth the ch•rlty Is exposed and are satFsfied that systems are In place to mttate eXpu to the major rtsks. Flnanclal Re The charit$ work Is ertlrety rellant on donallon. whlth have Increased ty £97.CMX) in 2023. The Increased level of donations has enabled the charity io Brow tts proyarnme of soclal Impact and Innovation, plus widen particlpatlon, however ihLs 8rowth ha5 In turn lead to Increased pro8ran7me expendlture and investment In researth wlth J subsequent i)verall defitit for the year of £21,LMXI. Despfjte the delictt the level of reserves remalns healthy wlth opportunltles for research and Inn¢atIon In 2024. Prfndpal lundlry sour The prlndpol fundlng source for the charlty In 2023 was Income from foundatlon grants Intludln8 one from the Lottery Communlty Fund. On8oln8 ery8ement and distussbns with tharltsble foundatlons b pr¢wlre useful In Idertlfyin8 [Klble opportunitles for a much wlder rae of fundin8 for the future. Dlscussions wtth Wentlal partners *e a150 centewed on the potentlal for contract Income In the future. Inv•stm¢rt poll¢v Aslde from retalnlrea prudent amount in accesslble tash re5er¥eseath year.thetrustees have declded to Invest the MaInl reSerS in InveStnt funds. Reserves polky It ts the pollcy of the thartty that unremrkted funds whith have noi been designated for a speclfk use should be maintained at a le4el equivalent to at least three and 51M month's expenditure of both the charltyand thesubsidlary. Thetrustees conslderthat reseffts atthb le4el wlll ensure that. In the event of a significant drop In fundin& they wlll be able to tontlnue the charirfs current artIvleS whlle corsideratoon ts 8iven to ways In whlch addltional funds may be rdi5ed. This te¥el of weserves has been malntained throughout ihe year. Enartus UK Trustee Annual Report 2023 16
The tnth conslder there are no materfal uncertstries al)out dwi1$ abjllty to contlrJe as a Eoln8 cx)ncem. The revlew of our financial p05ith) reserves lthls and futuft an$ glve tnjstees confKlencethecharFty remalnsa 8oir rxbncemforthefore5eeable future. Thetru5tees have reeWed the Kdance on &Arltyfinandal reportlng In the PparatiOn of thls trustee POrt Plans ftrfutwe perfods As noted abm, the th•rlty plans to the ¥tlvides outllnEd above In the forthcomlng yea subjert to satlsfa¢tory fvrth arr4n8ements. Plan5 4re also belr¥ developed to on a number of xhemes to Inm5e the v•lue •nd range of r•¥Mue stream Approv order olthe Trustées on 2(ll4 &ryl srd on Its beh•lfty: 8ned ty ftobln Liwlter-Ch* ¢rfth• trurto•& Enactus UK Tnistee Annual Report 2023 17
Charlty rn9htr4tlon number 1165261 Cwwny r•ghlvallon 04358202 IEngl•nd and Wal) ENACTUS UK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
ENACTUS UK CONTENTS Pag• IndeIllent exanws rlport Ncrte8 10 th• fknandAI Statnts 4-12
ENACTUS UK INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF ENACTUS UK I report lo Ihe trusttes my ox•ninakn of the finèr statwn•nts of En8ctu8 LH< (ihe charity) for th& y¢ar endod 31 t)ember 2023. R•¥pon•lblltl•¥ and b•sl• of rnport As the trustees ol Ihe ¢hanty (and Iso 11$ the puws of company Iww) you a rpsponsltrAe for th& preparation of the finandal statements in a¢¢ordan¢e the requir•ments of ts CoMpanS Ad 2008 (the 2006Act). Having 8atisfied myself Ihat tho statrnts of the tharity are requrred to be audmed urthr Part 16 of th& 2006 Acl and ar• 011t¥ for Indopendent examinalion, I report re8pecl ol my examination DI the charty's financial statements ¢arrfed under wcts)n 145 of the Char[9 Act 2011 lthe 2011 Act). In ¢8ryying olrt my examinatK I hava fologd the aFFfjixbb• tli•cUtins fvi ty th8 Charity Commh8ion uThd•r le¢1) 14515llb) of the 2011 Act. Ind•p•n(knt •x•mln•rf• •tst•m•nt I have complatéd my •xamination. I confimi that rn fflatters ha oxn• to my att•ntK>n In 1xnoCtsQo wfth thè •xaminaUon 9ivlng me Cau lo belleby that in any m•terial re¥•cL accountlng records were not kept in r¢sp•(a o1th8 d)aiity a8 r9qllr by $ockn 386 ofthe 2008Ad'. or the finanrAal StsIerr1 do not a¢¢ord with Ihose Tec¢rds". or th8 fin8ndal st81tm8nl$ do nol comply wlth Ihe accounl(ng ro(wOrwnents of ¥e¢tkJn 396 of th• 2006 A other than any requtrernenl that tho account8 9W a true and farr view whth Is not a matter nsIdld as part of an ind•pend•nt eXinon., or Ihe finanoal slal¢mgn¢s have not beèn y•par•d n aco)rdance with the m•thod$ 8nd prfndple$ of tha Stsl•m8nt of Re¢>)mm•nd8d Practke for accoLM)In9 and reporting by charitte$ appfvblo to (arfli•s prparlng tholr accounts n accordw w5th tho Fin•rKial R¢ptsrtirKJ Stand•rd appllcgtlo In th& UK and Rep1¢ ol Ireland IFRS 102). I h•v• no conwn8 and atro$8 no other mattws kn crnrckn with the ex*nln•Uon to whkh ttention Should be dra¥m In thls rnp)rt in ord8r lo enat4e a proper Wrh)9 ofthe fin¥nual stal8m8nls lo 8chgd. J L Swann BA (HonF} BFP FCA Sl. Davtd$ Court Union Street Wotverhampton v51 Midlands 13JE United Datsd.. 7Augu$t 2024
ENACTUS UK STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Total Unmtriol•d R•¥trielod fund• 2022 Totsl nds 2023 1023 2023 2022 2022 co Donations ar1 legacies Chanlable acilllfès Inve8tmer 196.230 I,W27 198.157 11x1.850 100,850 2,NJO 554 1.997 1.997 Total Incom• 2.227 1.927 202,154 103.404 103.404 Charitsble act7118$ Tl,972 87,232 Gross translgrn b8tsYeèn M•t 1•xwdlr•VIK1NTr• for th• y••rf N•t rnov•m•nt kn fund 6.740 18.740} 122,453} 1,V27 (20,526) 32.172 {18,OCQI 16.172 Fund bala$ 811 January 2023 428.488 428,468 18,OCQ 412,296 Fund bal•ncrt at 31 D•¢•mb•r 2023 4CI3.015 1.027 407,942 428,468 428,468 The 8lat•mnl of fin•ndal i¥illg9 Inth(l•s al g01r 110# wnlmd y•8r. All Incom8 and oxpemlture dorive from Thè stol•ment of finan¢tal actibiti88 olw o)mplkrys tYlh th• ro¢Nr•nents for an thme and •XndIte a(XnI und•r thè Comp8ni08Ac 20C6.
ENACTUS UK BALANCE SHEFr AS AT31 DECEAIBER 2023 12 C•sh at bor h 20.157 416.577 417215 13 19274) (1.539) 407J41 407.942 428,4e8 Inom• fvndA 4t15.015 428.488 428,488 MrRBlas
ENACTUS UK NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 DECEAIBER 2023 A¢¢ounlOng polocles Charfty Inforn)ation Ena¢lus UK 18 a wivatè c>ywny Ilffit•d by guwanle• kthrpwated in Engl and Wakn8. Tr fegislerod offi¢& is . 1.1 A¢¢ounllng ¢onv•ntlon The finanuat stslemeths h8v• been yep•r•d in the charl1$ goveming document. the Companies Act 21J06 and "Ac£lnttrg and ReportwvJ by Chanties". Sl•temenl of Recomm8nded Practice applica to charille8 Kwring their a¢¢ounts in adan wilh th& Financial Roportlng Sland¥rd apIcable in Ihe UK arKI Republc of Irdand IFRS 1021. las aned lor accotIng pefbds commenclng from 1 January 2018). The chwity is a PublK B•rnfft Entty 88 d•fined by FRS 101 The charlty ha8 tthn odvanloge oftho wovi¥loM in the SORP tr dft an9 FRS 102 Updala 8ulelin 1 not to prepare a Slatemenl of Cash FIM. Th• Ilnand41 statements •re pY•pwed In st•dkw. whth is fvrttol r[encY of th• charmy. Monfrtary amounts in th9$• finandal statemeth$ are rounded to th• noorost £. The ffflan¢iaf atsment8 been prep•rnd Ltnd•r the %1 ¢(0n. Th• prfnl ac¢ountln9 pdld•8 adopted ar• let tyjt b•kni. 12 Golnq can¢•ffl Al the thme ol approving the finanU statements. th• In188 ha a r••wnable •XFrttafOon that th• chartty has adequate ffjsourc to continuo In optirational •xistenc for Ihe fOre8•eab future. Thu8 the trustees ¢onllnu• lo adow the La)ncem b•th of ac<iunting In weparing thg fala1 st8tèm•nts. 1.3 Ch•rt4bl• fund• Unre6trict•d fvnd8 ore avallth for at the of tru8t•e$ In ft4thwanf of Ihfjlr tharft4bl• 0bhctis. Reslrkted ftd9 are $L)iecl lo 6p¢dfic Cond03 by dorwAs as to h(Mf th•y rnay bts u8od. purpo8a$ and uses of the restricled funds we ¥et out in the th to tho ffinandal 8lalom8nts. En¢JowMf funds •ui¥gcI to Gpeufic condlkni by dorm Ihat the cow musl bo mo1rrtal by the charrty. 1A In¢•)m• Income Is re¢ognl8ed when the ikniity IG lagalty to rt 4ft•r any pwfirfm•rK• condrtionG have been met. Ihe Anuftts be rrww•d rdiaw. and it is prthablo be recoiwd. Cash dona15ons arg rerwised on leIpl. Other rawnls•d once th• cknanty has be8n of the donation, unless perfrnance cditsOn$ requvt dgfeffal of the am01. I)me tax recoverabl8 In ratIon to donal1$ eN0d Lrnder CftAbY or deeds of co¥tnaN is rewus8d at the timo oftha dt)n. Lo98(¥8¥ are recow1 on r¢cpt or oth•r¥bise rf tharity has been notsfied of an Nnpendrng dislributm, the arnnI 18 knowi, arKI [Qp{ 1$ expethd. 11 the anw)unt Is nol the 1oga¢y. 1$ Irtratod as a nhngerrt asset. Grant inome 1$ rewised wh8n the dwity is 189 enliU8d to JI aft8r any perlomanc• o¥Jndltlon8 have been met. the amounts can bo 8$ed rabty. and it18 probgble th•t bg re¢eDd.
ENACTUS UK NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Atcounllng poH¢i•s IContinu•d) 1.6 Exp•ndltyr• ExpenseB aro Iuded in th• financlal slatements •• th•y bec• thJ8. Expenses InthNe VATwhern aA[ca& as thè ch•ity canrKrt rnr¥m it. Support And govwnancè c)>815 •re those ¢ts that a8555t the of tho charrty bul do not repro86nl thwltaNe 8(thti&. arè dw8cty in 8WOrt ofoxditUTe on th8 obpcts oflhb cbarfty. 1.1 T•n9lbl• fix•d u••t• Tangibl& fixed assets af• inrtiaty measwed at eoJt and moa8ur•d qt cost or ¥aalk. of d•pre¢ialion and any impainngnt10$8e¥. D•prerxtion 1$ récognls•d 80 as lo write off th• 81 or v•hJ•tion ol a$80ts 1•88 thek resldu81 valu•$ 01 th•lr useful INe8 on the base8'. Fre1 and fftling8 33%Meo The gain or loss ari$lng on the di¥posal of an as is d61orminod as difference b•iw•en the wal• proc•d$ end the ¢anwng value of Ihe 888et. ond is rwsed In tho statement 011kn401 1¢xi1$. 1.7 Flx•d #vt InvMtm•nt• Fixed assel irweÉtments are 1n1lity liu al trans)kn pric• exCrn9 tranu¢ilon costs, and a subseqnty measured at tslr vaknè at eac report¥ig date. Changes in falr value ar• rècognlsad in net Incomellexpenditurel for the y•ar. Tr•nsadion sts [• •xpon8•d as kwld. A 8ubstthary 18 an •nlty controlled ty the ¢hanty. Control Is th• p(Av•r to 904ffjm tho fln•rKthI and operatlng polici8$ of th• entity 80 a$ lo obtain bengfits from its aLthe l.• Ca•h ftd ¢8h •qufv•l•nts Cash and ¢ash equNalents Inde c•8h kn hand. dapD8h hekl at c41 with bank6, other short.tomi liquJ Investments wilh or&k)al Mat116 of Ihree month$ or1ts8, and bank o¥rthafts. Bank r)verdrafts are shDwn wllhin borrowng8 in oThtenl liatilrfies. 1.9 Flnncl•l In•lJum•nts The ¢harity has elect8d lo apply thè rmtsions of S•¢kni 11 'Basic Fin•nd4 Instruwit8' S•clbn 12 'Othfrr FwwKid In8tmments1s8ue•' ol FRS 102 to 41 of its finan(xal Inslrumenls. Finanoal in¥lwments aro rocogthd in th• diantys balanc• slwt when thartty becomes paty to the contractual kyowskins olfhe inslrumenL Fin4nc48188sets ¥nd li•biltieJ gre offset, titi th¢ net nounts psented in Ihe finandal 8talem&nls. when there is a legally enfwable right to W off thè r•cognised amounts Ihere r6 an irrtentK>n to sellie on a nel basls tr to real$¢ 48sgt and sellle the li•bty simuttanew&y. Basic finano41 assets, whth iTrludo debtors cosh and tsalanc. a initiaNy wsureil at Iransa(aron pric• transacthn costs and arè subsequenlty carried at arTh)rtrs8d cost Using the eifective intergst m&lhod unless thè arrangement constitutes a finarKry trans&tion. where the transathion is measured al the present value of th8 futurè receipts at a marfEei r8te of Inter8$1. FInala1 assèts dassJfd a$ receivat4è wilhth one year are not kn)rtrwl.
ENACTUS UK NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢coiiiUng pollci (cOnn•d Bas flnanC liabrt$. induding c¥&Jitors and bank toan$ are mit• rec¥)gnised at trawdion pric unltsss the arrangement wnstitutes a financing transa(thn. Ihe d•bt ¥tment is measured al the pr98enl v8luo of the firtLn payments dr8C4)unted at a rnatst rale of te$l. Financ4al liabMitN?8 Ct&8sffied as payablg within tsno aT are not alThl. l)ebl In8trwnents 8ub8•gugnfy c•rrf8d ¥t am19•d co. usKig th• effoclfft knt•re•l rats method. Trad6 ueditots ar8 obligation$ lo pay for gtsods or $viceS that have been acqu[d in the ordknary COLn• ol op•ralions from 8uppllern. Amounts pay4blè art da$¥ifigd as Then1 abIlItieS rf pgymenl Is Wrfhin one year or less. If nol. tlw are presented as nonvcurrent I1%1.¢$. Trade uedttorn ar• recognisgd inillalty at transactlon price and ¥ubseq(nty nwured al aMto cost U8lng tho terest method. D•ro¢ognftlon of Financi81 liabilrties are derecowlmd wth•n tho dwws contracts (atIonS •xph or are discharged or ¢ancdled. 1.10 T4x•llon The Ghty 1$ •x•mpt from lax on Its (wla>l• 8dMbes. 1.11 Employ•• b•n•llts Tho co$1 of •ny holday enUtkn•nt l¥ f•)9n11 In lh• whth the emQyo•,& servkè8 are fe¢efv8d. Temlinon b•nefrt¥ arn recOgned immedialety as an exTthSè ¥th•n Ihe tharfty 1$ demon8tra)ty commMt•d lo tem)Inat• phyMen$ of an employee c lo prId8 termlnatth benefits. 1.12 R•tlY•nwl b•ft•fits Paym•nts to do1)d contrllmthn r8tlr•mwrt are dwy8d •$ an •xp•n8è al tw fall du•. 1.13 For•lgn •x¢h•ng• Transaelion8 In currencieg other than pounds 818rfing arn tecded at th• rate8 of •xtharo• weI.n9 at th• d81è8 of the transa¢tion$. At each rEporfng BTrJ dale, monetwy ass$ abIle$ ihal 8re denominat8d In fowgn current4es are thslated al the r0$ prw.ling cffj the roportuy end dale. Gain8 and10830$ ari8lng on translation in th• pwknd are or loss. 1.14 Debtorn and ¢r•dltorn r•c•iv•bl• I p•yabl• lthln on• y••r Debtors and ¢reditor8 with no staled te8t rale aTrJ INat48 or payab thin ITh ygor ar• rnc(wded gt tron8action prke. Any hjssts ari8ing from frnpawmeni are re¢ognised In expidI1Ure. Don•tlon• And tlnrn•tsl¢tod R#trlct•d fvrm Total UMwtrf¢t•d fund¥ 2023 2023 2023 2022 D(#)al and yfts 196,230 1.927 198,157 100,850
ENACTUS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 UnY••trf¢t•d fund• 2023 UrTrstrkted fund$ 2022 Other Inccthe 2.000 Inv••lm•ftts Unmtyict•d'UnM•lrfct•d fvnd• lund¥ 2QiJ 2022 Int•re4t rl¥able 1.997 Charilbl• etMIi•• VJ23 2022 Staff costs EnactU8 worfdwld• fees TralI1r4 and meetings PTO9ramm• ddlvery costs NextG•n Leader$ progranNTr• 147.430 14.823 8,287 28.271 14.158 2,178 22.857 26,079 194,163 68,684 Gr•nt funthrvJ of a¢lr4llJ•8 (s•e note 6) 18.588 13,280 Share of supp(¥t CO818 (see not• n Share of govemanc• (x)sts Is88 note 7) 5,282 4.647 1,992 3.296 222,880 87,232 An•tysl• by fund Unre8lricted funds Reslrided 222,680 77,972 9,260
ENACTUS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grnnts p•yab 2023 2022 Grants to In8titutlorts (68 gf•nts)." Ingham Trent Unl15ty Regional F•edba( Swnm Sheffiehj Untv•rsity College Lon¢)n Aston University Liverpool Unlversty Other Unlversthe8 (27) grts less than £1,000 RIA g(anl8 lo Univer8itkns (26) Giants to $¢hools191 300 4,210 2.900 1.800 8.750 1.492 18,588 13,2e support ¢o•ts Support G•)v•rn•n ¢o•ts ¢o•ts 2023 8upport Gov•rn•n¢• co•1¥ o•ts 2022 Ex(*ange Losse811gain•) General admln sts Bank ¢harge$ 393 4.r24 165 4.724 (850) 2,746 18501 2,748 ACtanCY 4.647 4.647 3,296 5282 4,847 9,929 1,992 S,288 Analysod betrween Charitoble a¢tMtie$ 5.282 4.647 5.288 Govemance ¢0stg paym8nts lo accountants of £2,364 12022. £2.SCA]I for Ilopendent mNlali lees. and £2,28312022 . £796} for ots swviees. Tru•f••• None of the trustees {or any per8ons ojnneded ¥th thoml romuneratkin th• year, on8 of them was reirr&wsad a lotsl of £118 of expenses <2022- romwwation or rniMIr8•M•nls pald lo the trust¢ts).
ENACTUS UK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Emthe•s Tho averngo mMthty rmmnber of empk)yees y•wwaB: 2023 Numb•r 2022 Mumb•r Ernploynwnt co•ts 2023 2022 Wage$ and $8larf•8 So¢ial Securty ¢oBtfj 127.475 12,571 23,375 2,195 701 147.430 26,271 Th•re w•r8 no omFtys T1th0 amual was more than £OO.OQ). 10 Tu•tl Th8 charity Is ex•mpt from tax on inrn• and gains wlthin sectK 505 ofthg Tth8Act 1988 or 8Kton 252 oflhe Taxalionol Chargeable GalnsAGt 1992 to th• that apphd lo h8 charitae objerts.
ENACTUS UK NOTES TO THE FINANCIAL STATEMEKrs (copiriNUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 11 Flx•d ••Mt Oth•r ItM•t• Co•t orvluatlon At 1 Jwuary 2023 & 31 Dèwnber 2023 Carrying amount Al 31 Decwthr 2023 Al 31 O•cember 2022 (Xhef inlMentS ctxnpriw". 202J 2022 InStment1 AA>sidlari•8 12 O•btor• Amounts faNlng du• Ythhlft on• y•r. 2023 2021 Amounts tr•d by subslthary undort•kings Prepayments and accwed In¢ome 1,310 20,157 20,157 12 Cr•dkorn.' amounts Mlng du• wlthln OM y•r 2023 2022 Other taxallon 80c4d se Trade u8(rrt Other creditors Acttuals a1 doferred Income 7,277 175 298 1,397 9,274 1,539 10-
ENACTUS UK NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 14 RMtrl¢tsd furbd• The irKom• fund5 of the Larity restri• the un•xperthd balonc08 of donalk)nB and gran1$ held on INSI foi Bpgthc wrpoges.. In lund Ineomlry BAl•rK• It 1 Janu•ry z02J r••wrco• 31 D•e•mb•r 2023 SAP Schrodors Enoclus UK AkKMI (1.000) 15.OCKI 16.740) 1,927 1,927 16,C (9.2&)) 18.740) 1,927 1,927 Purpo•• ol R••trkt•d Fund¥ En8thi8 UKAknni has pro¥id•d fund8 to a88ooat8d and I. 16 ol n•t •M•ts b•tw••n fund• fund¥ Totsl UTrmtrl¢tsd R••trl¢t•d fund$ lund• 2022 2022 fund* 2023 Totsl 23 2022 Fund balan¢e3 al 31 D9¢•mber 2023 ar• Tepre58nt•d by.. Inv8sthwrts Currgnl a86•t81eS) .014 1.927 407.941 428,487 428,467 406,015 1.927 407.942 428,468 428.468 The th•rTty is limited by guaranteè, h•w'ng a shar• • and nSeqUenty th• liabilty of m•mb8rs Is lknited, subj'ec# lo an undertakiry by 9o¢h rnber lo rA)ntrirte to the n•t assets or of th• tharity on winding such oUnt$ as maybe mquir•d nol exc4 £1. 11
ENACTUS UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 R•l•ted party thinM¢tio R•munerntloTr ol k•y m•nag•fflont p•rnonn•l 2023 2022 Agweqale compen8gtlon 6S.850 TrnnMcllon• wlth rnl•t•d partl Durvig the y•ar t rthaiily Into the fc4luing transadon8 with relat•d parw.. Durkng th8 yèar thè charrty I1¥ed £2,tKJO 12tr22 £2.(KMII fr(Mn En•ctsJ8 UK Tr•(Iw Llmitod, ts tradng 8th1£ry. for Ihe use olnamo9o. rtghls and dal& No dongllon8 wore r•c4W from sl51ry In 8thr 2023 or 2022. Al 31 Decemb•r 2023, therè wa8 an anwt of £1,310 from Ena¢bA UK Tfading Umiled lo t charfty. 12022 £20.15n. 1• Sub•ldl•rl•• The fln8ndal $talements We 8•pwat• (wty finandal slalwnerts for EA•cl UK D•t•th ofthe ¢Ws sthldlall at 31 t)oc•th 2023 ar• as fcxs: Nam• of und•rt•klng R•oS•l•rnd N•th of b1n• offl¢• Clw % H•ld •h•r•• h•ld Dlr•ct Indtr•¢t Enactu$ UK Tr2ding Limtted unl Ifwwm Training KI S$0r8 4) sh¥0$ i58Ugd 100.00 The apar8g•te CW and and ts ro4[ for the y•or of bdIath eXd from nOlkl•lln N•m• of und•rta*lng Prolltl{L¢>8•) CA1 and Ena(ths UK Tradkng Linth•d 11.845 (41,1) -12-