## REPCE
Charity number 1158972
## Annual Report and Financial Statements
for the year ended 31 March 2021
## REPCE
## Annual Report and Financial Statements for the year ended 31 March 2021
|**Contents**|**Page**|
|---|---|
|Trustees' report|2 to 6|
|Examiner's report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the accounts|10 to 15|
## **Prepared by West Yorkshire Community Accounting Service**
1
## REPCE
## Trustees' report for the year ended 31 March 2021
## **Reference and administrative details of the charity, its trustees and advisors**
The trustees during the financial year and up to and including the date the report was approved were: **Name Position Dates** Aoife O'Leary Chair Reisgned January 2022 Dara Leyden Treasurer Resigned August 2020 Christine Berry Resigned July 2021 Ben Pringle Joseph Proctor Resigned April 2021 Sofie Jenkinson Juliet Michaelson Resigned February 2021 Antonia Jennings Dr Mehroosh Tak Appointed February 2021 Toke Dahler-Larsen Appointed February 2021 Samiah Anderson Appointed March 2021 **Charity number** 1158972 Registered in England and Wales **Registered and principal address Bankers** 22A Beswick Street Triodos Bank NV Ancoats Deanery Road Manchester M4 7HR Bristol BS1 5AS **Independent examiner** Simon Bostrom FCIE **West Yorkshire Community Accounting Service** Stringer House 34 Lupton Street Leeds LS10 2QW
Registered in England and Wales
## **Structure, governance and management**
The Charitable Incorporated Organisation (CIO) Foundation is governed by a trust document and was formed on 24 October 2014.
Rethinking Economics and its trustees are bound by its foundation constitution. The names of the trustees who served during the year are set out above.
Rethinking Economics has set up a committee structure of two committees consisting of trustees, staff members and student organisers in order to allow for student organisers to remain a central part of the charity’s decision making (as they were before Rethinking was incorporated as a charity). The rules governing committees are set out in the committee’s terms of reference document. The two committees are Finance & Funding, and Staffing & Governance. The staff and committees are managed and overseen by the Co-directors.
Rethinking Economics has a fully operational financial management controls policy.
2
## REPCE
## Trustees' report (continued) for the year ended 31 March 2021
## **Method of recruitment and appointment of trustees**
Regular reviews are undertaken to assess the skills of the current trustees and identify any areas that need to be strengthened.
New trustees are appointed by existing trustees through an application process.
## **The charity's objects**
The object of the CIO is to advance education in economics for the public benefit.
## **The charity's main activities**
The activities outlined below have been undertaken by the Charity as the means by which to “advance education in economics”. This is divided into two main spheres: our work within universities and our work outside of universities.
## **Public benefit statement**
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of education and promoting a pluralist economics curriculum that better serves people and planet.
## **Statement from the Chair of the Board**
RE has moved from success to success this past year - despite the pandemic. While in-person gatherings had to be cancelled, RE quickly pivoted online and even grew our reach tremendously while doing so. RE do hope RE can return to some in-person community events in the coming year but the pandemic has ensured that digital events will be part of RE's annual global calendar going forward. Next to that, RE has had any number of other successes - too many to list here but I am personally really excited to see that Reclaiming Economics for Future Generations is almost ready for publication as it will be a key catalyst to ensure RE doubles down on the vital work of diversifying economics going forward.
On behalf of all the RE trustees, I would like to say thank you to the RE staff who stayed committed to RE's ambitious mission and adapted so quickly even as a global pandemic set in. You are all truly an inspiration. Thank you also to all of our amazing funders, who also continued to support RE even as RE had to scramble to an online gathering and figure out a new way of working. Finally, most of all, thank you to the students who make up RE and carry out all the inspiring campaigning work in universities day to day. This is a bittersweet moment for me as I will be stepping down from the board in January 2022 but as I look back over the nearly five years I've been on the board and I've seen RE go from strength to strength and I am sure that will only continue. -Aoife O’Leary, Chair of the Board.
Aoife O’Leary, Chair of the Board
## **Achievements and performance**
## **April 2020 - Reclaiming Economics for Future Generations**
Following on from the previous year’s work, RE continued writing our book which explores a culture within mainstream economics that perpetuates the lack of diversity within it, and a need to decolonise economics in terms of the people and the respected ideas within the discipline. The book builds an understanding of the experiences of students and economists who have felt side-lined by this culture, providing a platform for the voices of working-class students, women, and people of colour.
A key achievement was the presentation of the student focus group and interview data conducted for the book during the Diversifying Economics session at RE's International Festival in July 2020. Having completed the first draft of the book by February 2021, a range of revisers (scholars, economics students, NGO workers with expertise on the book's themes, RE supporters from the general public) provided constructive feedback on it from March 2021. The book will be finalised later in the year and is on track to be launched in January 2022.
3
## REPCE
## Trustees' report (continued) for the year ended 31 March 2021
## **Achievements and performance continued**
## **April 2020 – European Organising**
Funding from KR Foundation over the last two years has helped us to solidify and scale our international organising activity through building the capacity of European groups. RE has particularly focused on supporting the formation and growth of the regional-level Nordic Network to strengthen the existing national networks (Denmark, Sweden and Norway) and create RE Finland.
For the final year of funding (Jan 20 – Dec 20), RE continued working to create a better-connected community of Rethinkers. However, due to Covid-19, in-person events had to move online. Our network successfully adapted and managed to retain engagement using online platforms. For example, the Economics out of Equilibrium bi-weekly, student-led webinar series brought together academics from across the world to introduce important concepts and topics that are excluded from mainstream economics education. During this time, RE Netherlands also started the Climate Economics Explained webinar Series. The series built on the recognition that the reality of the climate crisis was not explored as part of economics education. RE supported the work of RE Netherlands in delivery of this project, enabling hosting on our YouTube channel, promotion through our social media platforms to provide extensive reach, and through use of our Slack space to recruit volunteers to support the project and as a further distribution channel.
Economists for Future continued developing a journal assessment tool to examine how well economics journals cover the climate and ecological crisis. They also worked on the formation of a German-speaking E4F community.
## **June 2020 - Economists and Crises**
RE undertook a piece of rapid research in summer 2020 to investigate the extent to which economics students and graduates felt that their economics degrees had prepared them to respond to the Covid-19 crisis, the environmental crisis and the crisis of systematic bias and social exclusion.
Receiving nearly 1,000 responses (with over 70% of these from students currently outside of the RE Network), the vast majority of respondents RE were in agreement that the culmination of events should mark a turning point for economics. The crisis has presented an opportunity and momentum for engagement with our movement as increasingly students recognise that these crises are not appropriately taught or understood in the context of their degrees.
## **June 2020 - Teaching Economic Policy Institutions**
Starting in June and running until the end of year, RE collaborated with Dr Craig Berry, Director, of Manchester Centre for Economic Policy at Manchester Metropolitan University, supporting the design of a new pluralist economics curriculum. RE led a programme of consultation with insight feeding into curriculum design and which included engagement with Bank of England and economics professionals, drawing on our alumni and our civil service network ‘Exploring Economics’, and the hosting of a student summit. A series of accessible learning resources have now been produced to complement this work and RE are supporting the development of a workshop outline based on the materials, as well as formulating a communications plan to support the dissemination of the resource.
## **July 2020 - Digital Festival**
As a result of the pandemic, our annual Rethinker’s Meet Up, which was scheduled to take place in Manchester in collaboration with the Degrowth Conference, was cancelled. With the support of KR Foundation, RE were able to pivot this event into a global Digital Festival that sought to showcase what economics could - and should – be, hosting a celebration of the diversity of ideas and approaches that can help us reform the present and reimagine the future. The festival was an overwhelming success. Running in July 2020 over five days, with over 5,000 registered attendees representing 135 countries - far greater reach than RE could have secured via a physical event.
4
## REPCE
## Trustees' report (continued) for the year ended 31 March 2021
## **Achievements and performance continued**
The shift to a digital event forced us to explore new methods for network and public engagement, encouraging us to test ideas and approaches such as digital learning groups, varied webinar platforms and other tools that give online spaces a community feel. Learning from the festival will be used to shape the development of future digital events, with a Digital Festival now adopted as a core part of our annual programme of events.
As a result of this festival, RE had 69 individual requests to start new groups, encouraging us to bring forward the development of our programme of induction training to meet this demand. Our Digital Conference also inspired two further projects, developed and led by network members - Economics out of Equilibrium webinar Series and Climate Economics Explained webinar Series.
## **July 2020 - Messaging Project**
RE have been working on the development of a Spokesperson Training Package, with a programme of audience research and frame testing work with economics students and early career academics now concluding. The findings of this will inform the development of a UK specific messaging guide, spokesperson training programme and help us create a blueprint for national networks to produce evidence-led message testing relevant for local organisers. Through this work RE hopes to support continued growth of the our community, with research undertaken with students who are not currently part of the RE network to deepen our learning and insight.
## **November 2020 - Student Leadership Training**
Prompted by the surge in demand for support to establish new local groups across the globe, RE brought forward the development of our programme of induction training to respond to demand. Training was developed around five core themes which had been identified as priority areas through student consultation and engagement. 35 attendees joined the first programme, which will be repeated throughout the year.
Sessions delivered through a mixture of facilitated discussion, informative talks, in-workshop tasks and homework. Sessions included welcome to Rethinking Economics; Setting up a Local Group; Running your Event; Campaigning for Curriculum Change; and, Communicating with Academics.
## **February 21 – Members’ Council Launch**
Following extensive development and engagement work with key internal stakeholders, and drawing on our observations of the use of models of sociocracy by other effective movements, RE introduced a model of dynamic governance to our governance framework. This consent-based approach enables distributed decision-making and provides clear frameworks for conflict resolution. Importantly, it allows for rapid growth within a movement, due to its decentralised structure and will play an important role in leadership development within the membership.
Building on this model, and following a successful election in late 2020, RE appointed 12 Council Officers from across the global RE Network to our new Members’ Council. Four types of officer roles were created to work across our key focus areas: Campaigns; Communications; Memberships; and Partnerships. 30 member groups participated in the election, a turnout of circa 30%.
5
## REPCE
## Trustees' report (continued) for the year ended 31 March 2021
## **Financial review**
The net income for the year was £87,914, including net income of £60,070 on unrestricted funds and net income of £27,844 on restricted funds, after transfers.
## **Reserves policy**
The Board of Trustees will consider the level of reserves that is prudent for REPCE to have at its first Board meeting of each new financial year. Consideration will be given to redundancy liabilities, lease agreements and any other significant factors that should be taken into account were Rethinking Economics to close. The document REPCE Windup Costs will be used as a guide to determine the best level of reserves for any particular financial year but it is advised that the limits should be within the following range.
The Lower Limit is the windup costs of 2 months salaries, liabilities and any redundancy payments. The Upper Limit is 6 months running costs. The Strategic Aim is the mean of these two numbers. For the year ended 31 March 2021, the lower limit was £53k, upper limit £163k and strategic aim being £108k.
The REPCE Windup Costs calculations should be updated at least once a year by one of the Staff Treasurers to ensure that the level of reserves agreed at the start of the year doesn’t drop below our lower limit. As a charity we should try to avoid keeping more than 6 months running costs so we can better support our beneficiaries.
It is the responsibility of the Trustee Treasurer to scrutinize Finance and Funding reports to ensure that these limits aren’t breached for good reason. Each year we should aim to increase our reserves to a value closer to our Strategic Aim. However, it should be noted that as the organisation grows so will the lower limit and the upper limit.
The charity's free reserves, excluding fixed assets, at the year end were £127,944.
## **Covid 19 and going concern**
Whilst the activities of the charity have been affected by the Covid 19 pandemic, the trustees have considered the financial position of the charity and are satisfied that there are not material uncertainties so significant as to cast doubt over the ability of the charity to continue as a going concern.
Signed on behalf of the board of trustees on 19/01/2022
Antonia Jennings (Trustee)
6
## REPCE
## Independent examiner's report to the trustees of REPCE
I report to the charity trustees on my examination of the accounts of the CIO for the year ended 31 March 2021, which are set out on pages 8 to 15.
## **Responsibilities and basis of report**
As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the CIO's accounts as carried out under section 145 of 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 Act.
## **Independent examiner's statement**
Since the CIO'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 fellow of ACIE which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
- 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
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.
Simon Bostrom FCIE
26/01/2022
## **West Yorkshire Community Accounting Service**
Stringer House 34 Lupton Street Leeds LS10 2QW
7
## REPCE
## Statement of Financial Activities
## (including summary income and expenditure account) for the year ended 31 March 2021
|Notes
2021
Unrestricted
funds
£
**Income from:**
Grants and donations
(2)
234,047
Sales and fees
-
Bank interest
66
Other Income
543
**Total income**
234,656
**Expenditure on:**
**Staffing costs**
(3)
Salaries, Pensions & NIC
104,524
Freelance workers
29,742
Training
1,631
Travel and subsistence
-
**Project delivery**
Research
21,377
Events
-
Travel
-
**Administrative expenditure**
Advertising and marketing
1,595
IT software and consumables
3,762
Postage and delivery
109
Printing and stationery
69
Telephone and internet
292
Independent examination
820
Bank charges
252
Legal and professional
15
Memberships and subscriptions
342
Trustees travel
-
**Premises expenditure**
Premises costs
4,991
Insurance
1,034
Depreciation
3,083
Other Expenditure
32
Donations
500
**Total expenditure**
174,170
**Net income / (expenditure)**
60,486
**Transfers between funds**
(416)
**Net movement in funds**
60,070
**Fund balances brought forward**
72,048
**Fund balances carried forward**
(4)
132,118|2021
Restricted
funds
£
115,314
-
-
-
115,314
67,490
23
1,934
-
-
500
-
5,107
3,669
84
181
256
200
7
2,844
-
-
4,854
701
-
36
-
87,886
27,428
416
27,844
72,354
100,198|2021
Total
funds
£
349,361
-
66
543
349,970
172,014
29,765
3,565
-
21,377
500
-
6,702
7,431
193
250
548
1,020
259
2,859
342
-
9,845
1,735
3,083
68
500
262,056
87,914
-
87,914
144,402
232,316|2020
Total
funds
£
289,093
3,509
74
-
292,676
154,191
62,415
3,720
18,427
6,966
11,060
10,352
2,958
7,563
321
1,710
418
720
210
7,407
392
2,063
17,143
568
2,565
-
-
311,169
(18,493)
-
(18,493)
162,895
144,402|
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
8
## REPCE
## Balance sheet
|as at 31 March 2021
2021
Unrestricted
£
**Fixed assets**
Tangible assets
(5)
4,174
**Total fixed assets**
4,174
**Current assets**
Debtors and prepayments
(6)
12,621
Cash at bank and in hand
(7)
138,800
**Total current assets**
151,421
**Current liabilities:**
**amounts falling due within one year**
Creditors and accruals
(8)
23,477
**Total current liabilities**
23,477
**Net current assets / (liabilities)**
127,944
**Net assets**
132,118
**Funds**
Unrestricted funds
132,118
Restricted funds
-
**Total funds**
132,118|2021
Restricted
£
-
-
21,523
78,675
100,198
-
-
100,198
100,198
-
100,198
100,198|2021
Total
£
4,174
4,174
34,144
217,475
251,619
23,477
23,477
228,142
232,316
132,118
100,198
232,316|2020
Total
£
4,933
4,933
75,199
68,739
143,938
4,469
4,469
139,469
144,402
72,048
72,354
144,402|
|---|---|---|---|
The financial statements were approved by the board of trustees on 19/01/2022
Antonia Jennings (Trustee)
9
## REPCE
## Notes to the accounts
## for the year ended 31 March 2021
## **1 Accounting policies**
## **Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
## **Going concern**
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
## **Grants and donations**
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
## **Expenditure and liabilities**
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
## **Taxation**
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **Tangible fixed assets**
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. In the case of computer equipment, items costing in excess of £250 are capitalised. Gifted Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Project and office equipment: 25%
10
## REPCE
## Notes to the accounts
for the year ended 31 March 2021
## **1 Accounting policies continued**
## **Pensions**
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
## **Leases**
Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.
11
## REPCE
## Notes to the accounts continued
## for the year ended 31 March 2021
|**2 Grants and donations**
Foundation to Promote Open Society (OSF)
Friends Provident Foundation grant
Manchester Metropolitan University
Joseph Rowntree Charitable Trust grant (JRCT)
KR Foundation (over accrual last yr)
Network for Social Change
Partners for a New Economy
Other donations
**3 Staff costs and numbers**
Gross salaries
Social security costs
Employment allowance|2021
Unrestricted
funds
£
76,549
100,000
-
50,000
-
-
-
7,498
234,047|2021
Restricted
funds
£
-
-
2,500
-
(1,273)
18,316
95,771
-
115,314|2021
Total
funds
£
76,549
100,000
2,500
50,000
(1,273)
18,316
95,771
7,498
349,361
2021
£
158,306
10,165
3,543
172,014|2020
Total
funds
£
37,362
122,616
-
52,500
75,122
-
-
1,493
289,093
2020
£
142,858
8,382
2,951
154,191|
|---|---|---|---|---|
The average number employees during the year was 6.4, being an average of 5.7 full time equivalent (2020: 6.7, 5.5 FTE). There were no employees with emoluments above £60,000.
|**Defined contribution pension scheme**
Costs of the scheme to the charity for the year
Amount of any contributions outstanding at the year end
**4 Restricted funds**
Balance b/f
Incoming
£
£
KR Foundation 2019/20
51
(416)
KR Foundation 2020/21
45,248
(857)
OSF Women's Rights Programme
27,055
-
Craig Berry's Bid
-
2,500
Network for Social Change
-
18,316
Partners for a New Economy
-
95,771
72,354
115,314|Outgoing
£
51
44,391
27,055
2,500
3,416
10,473
87,886|2021
£
3,543
956
Transfers
£
416
-
-
-
-
-
416|2020
£
2,951
521
Balance c/f
£
-
-
-
-
14,900
85,298
100,198|
|---|---|---|---|
## **Purpose of restriction**
**Fund name Purpose of restriction** KR Foundation 2019/20 For Rethinking Economics activities in the Nordics. The negative income figure relates to an over provision of accrued income in the previous year and funds have been transferred from unrestricted funds to cover off the deficit.
KR Foundation 2020/21 Towards the extension of the Nordic Coordinator’s contract along with supporting actives in the Nordics and Economists4Future. The negative income figure relates to an over provision of accrued income in the previous year.
OSF Women's Rights Programme Craig Berry's Bid
Network for Social Change Partners for a New Economy
To research the lack of diversity in economics and release a book. Funds contribute towards supporting Manchester Metropolitan University to develop new curricular.
For setting up a spokesperson network.
Towards a variety of activities including work with the Public Interest Research Centre, collaboration on an online global conference, summer and US conferences and training and awareness raising.
12
## REPCE
## Notes to the accounts continued
## for the year ended 31 March 2021
|**5 **
**6 **
**7 **
**8 **|**Tangible assets**
**Cost**
At 1 April 2020
Additions
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for year
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2019
**Debtors and prepayments**
Debtors
Prepayments
**Cash at bank and in hand**
Cash at bank
Cash in hand
**Creditors and accruals**
Creditors
Accruals|£
2,790
-
2,790
1,146
698
1,844
946
1,644
Vehicles
and bikes|£
7,630
2,324
9,954
4,341
2,385
6,726
3,228
3,289
2021
£
34,023
121
34,144
2021
£
217,475
-
217,475
2021
£
7,148
16,329
23,477
Office
equipment|Total
£
10,420
2,324
12,744
5,487
3,083
8,570
4,174
4,933
2020
£
75,122
77
75,199
2020
£
68,739
-
68,739
2020
£
3,749
720
4,469|
|---|---|---|---|---|
13
## REPCE
## Notes to the accounts continued
## for the year ended 31 March 2021
## **9 Related party transactions**
## **Trustee expenses**
No trustee received any expenses during this year or the previous year.
## **Trustee remuneration and benefits**
No trustee received any remuneration or benefit during this or the previous year.
## **Remuneration and benefits received by key management personnel**
The key management personnel of the charity include the trustees and Co-directors, moving to an Interimdirector structure at the start of the second quarter. The total employee benefits received by staff holding director-level positions were £68,583 (previous year: £44,411).
No trustee received any remuneration or benefit in this capacity during this or the previous year.
## **10 Funds held as agent**
At the year end the charity was holding £1,461 in funds from the Institute for New Economic Thinking. The funds were being held for the use of members of the REPCE network to run the Economics out of Equilibrium webinar series. The sum represents the total amount of funding awarded and no funds were spent during the year.
14
## REPCE
## Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2021
|2021
2020
Unrestricted Unrestricted
funds
funds
£
£
**Income**
Grants and donations
234,047
176,609
Sales and fees
-
3,509
Bank interest
66
74
Other Income
543
-
**Total income**
234,656
180,192
**Expenditure**
**Staffing costs**
Salaries, Pensions & NIC
104,524
96,125
Freelance workers
29,742
15,862
Training
1,631
300
Travel and subsistence
-
67
**Project delivery**
Research
21,377
-
Events
-
-
Travel
-
-
**Administrative expenditure**
Advertising and marketing
1,595
-
IT software and consumables
3,762
-
Postage and delivery
109
-
Printing and stationery
69
-
Telephone and internet
292
-
Independent examination
820
720
Bank charges
252
-
Legal and professional
15
-
Memberships and subscriptions
342
-
Trustees travel
-
1,213
**Premises expenditure**
Premises costs
4,991
12,350
Insurance
1,034
-
Depreciation
3,083
2,565
Other Expenditure
32
-
Donations
500
-
**Total expenditure**
174,170
129,202
**Net income / (expenditure)**
60,486
50,990
**Transfers between funds**
(416)
-
**Net movement in funds**
60,070
50,990
**Fund balances brought forward**
72,048
21,058
**Fund balances carried forward**
132,118
72,048|2021
Restricted
funds
£
115,314
-
-
-
115,314
67,490
23
1,934
-
-
500
-
5,107
3,669
84
181
256
200
7
2,844
-
-
4,854
701
-
36
-
87,886
27,428
416
27,844
72,354
100,198|2020
Restricted
funds
£
112,484
-
-
-
112,484
58,066
46,553
3,420
18,360
6,966
11,060
10,352
2,958
7,563
321
1,710
418
-
210
7,407
392
850
4,793
568
-
-
-
181,967
(69,483)
(69,483)
141,837
72,354|2021
Total
funds
£
349,361
-
66
543
349,970
172,014
29,765
3,565
-
21,377
500
-
6,702
7,431
193
250
548
1,020
259
2,859
342
-
9,845
1,735
3,083
68
500
262,056
87,914
-
87,914
144,402
232,316|2020
Total
funds
£
289,093
3,509
74
-
292,676
154,191
62,415
3,720
18,427
6,966
11,060
10,352
2,958
7,563
321
1,710
418
720
210
7,407
392
2,063
17,143
568
2,565
-
-
311,169
(18,493)
-
(18,493)
162,895
144,402|
|---|---|---|---|---|
15