Company number: 5585290 Charity Number: 1161102
## The Proud Trust Ltd
Report and financial statements For the year ended 31 March 2022
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd Reference and administration information
Company number 5585290
Charity number 1161102
Registered office and operational address
The Proud Place, 49 - 51 Sidney Street, Manchester, M1 7HB
Trustees
Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Emma Hawley Oliver Bliss (resigned 4 August 2021) Heather Graham (resigned 4 August 2021) Luke Ives Vice-Chair Katherine Malin-August Treasurer (resigned 4 August 2021) Niamh Moore (resigned 4 August 2021) Geoffrey Thomas Chair Hannah McCoy (resigned 12 July 2021) Lydia Shaw (resigned 4 June 2021) Manjinder Sidhu (appointed 5 August 2021) Christopher Murphy (appointed 5 August 2021) Rachel Cook (appointed 5 August 2021) Jordan Barry (appointed 5 August 2021) Melissa Surgery (appointed 5 August 2021) Christopher Peake (appointed 5 August 2021) Matt Smith Treasurer (appointed 5 August 2021) William Whelton (appointed 5 August 2021) Company secretary Emma Hawley (resigned 5 August 2021) Christopher Murphy (appointed 5 August 2021)
Key management personnel
Amelia Lee Strategic Director (until 5 September 2021) Lisa Harvey Nebil Chief Executive Officer (from 6 September 2021)
Bankers
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## The Proud Trust Ltd
## Reference and administration information
Unity Trust, 4 Brindley Place, Birmingham B1 2JB Natwest, 135 Bishopsgate, London EC2M 3UR Triodos, deanery Road, Bristol BS1 5AS Charity Bank, Fosse House, 182 High Street, Tonbridge TN9 1BE CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
## Solicitors
Anthony Collins Solicitors LLP, 134 Edmund Street, Birmingham B3 2ES
## Auditors
Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
The trustees present their report and the audited financial statements for the year ended 31 March 2022. Included within the trustees’ report is the directors’ report as required by company law.
Reference and administrative information set out on page 1-2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## Vision Statement
The Proud Trust’s vision is to end stigma and fear of stigma through working directly with LGBT+ young people as well as influencing wider society. The result will be that all LGBT+ people will be proud of who they are, and integrated across communities where they live, learn, work, play and pray.
## Objectives and activities
The Proud Trust has the following objects as its charitable purpose for the benefit of lesbian, gay, bisexual and transgender (LGBT+) children and young people in England.
To preserve and protect the physical and mental health of such people, in particular but not exclusively through the provision of information, guidance, emotional support and social meeting spaces.
The promotion of equality and diversity for the public benefit by:
- the elimination of discrimination on the grounds of sexual orientation and gender identity.
- advancing education and raising awareness in equality and diversity.
The main activities of the Charity are:
1. Youth work, group work and events
2. One-to-one support and digital support services
3. Special projects:
- Trans systems change work
- Proud Futures employment training scheme
- Under one Roof support for parents/carers of LGBT+ people
4. Training and resources, including our national Rainbow Flag Award scheme for schools
5. LGBT+ Centre and community work
6. Research
7. Infrastructure support through structured networks and events
The Proud Trust works in partnership with a variety of other organisations across the LGBT+, not-for-profit, statutory and business sectors. Activities are evaluated through the collection of quantitative and qualitative data collected from young people/participants, trainees, schools, funders and partner organisations. These are undertaken internally as well as through externally commissioned/ independent research. Evaluation of outcomes feed into the decision making for future developments and strategy.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is designed to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.
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The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
## Activities and beneficiaries of our services
The Proud Trust is a life enhancing charity supporting lesbian, gay, bisexual and trans (including non-binary) people and those with related identities - ‘LGBT+ people’. We have directly reached over 14,360 people this year through our training offer, youth groups, proud connections, resource downloads and community use of The Proud Place. This is supported by our delivery to training professionals, website analytics and our social media reach which has an indirect positive impact on approximately 254, 931 people in England. In addition to the numbers quoted, we are also aware that we will reach more young people through the teachers and professionals who attend our training. Through this work we have been able to be a lifeline to many who would not have support elsewhere. The Charity furthers its charitable purposes for the public benefit through the following:
## 1. Youth work, group work and events
All services are developed and delivered within a Professional Youth Work philosophy. The organisation currently runs 18 LGBT+ youth groups across Greater Manchester and Cheshire. This includes local groups in Manchester City Centre, Stockport, Trafford, Rochdale, Oldham, Bolton, Chester, Ellesmere Port, Winsford and Northwich and this year we have introduced a group in Bury. Intersectional identities/ lesser-represented parts of the LGBT+ community are specifically catered by focussed services including: three groups for trans young people, a young LGB and pansexual women’s group and a specific group for LGBT+ young people of colour. We have continued our work with partner organisations to contribute further towards increased physical, emotional and social activity amongst young people.
In this year, we continued to operate a hybrid model for the bulk of our youth groups, understanding that many of our young people preferred to continue with online attendance. In addition, this has enabled us to increase our reach, as young people from across the North West were able to attend provision.
We delivered 689 youth group sessions, had 336 young people who were regular attendees through youth groups this year, and have continued to strengthen our outreach activities through the implementation of a new outreach strategy.
We asked 121 young people who regularly come to our groups what the direct result of coming to The Proud Trust is:
- 100% feel more included, involved and accepted
- 100% feel more confident to try new things
- 50% are more likely to challenge all forms of discrimination
- 67% have more access to art, theatre, culture, sport and heritage
- 83% say they accept themselves more because they have the space to learn about their gender and sexuality
- 83% are more hopeful about the future
- 100% feel better able to build supportive friendships and keep them strong
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
## 2. Proud Connections & One to One Support
Following our successful launch of Proud Connections and the one to one offer during the pandemic, both of these services have grown in reach and demand over the past year. In the pilot year of Proud Connections we have responded to 213 chats through our ‘Need to Chat’ button. Following the increase of access to the ‘Need to Chat’ button outside of standard operating hours we were able to invest some of our reserves income in the programme to increase operating hours across the week.
## 3. Special projects
The Proud Trust operates both at a grassroots level and through networks across a variety of sectors locally, regionally and nationally. This enables us to identify gaps in support or service provision. Where we identify significant gaps, we work alongside partners to develop new services directly, or campaign for services to exist or improve. We call these special projects.
This year we undertook focused areas of special projects:
## _3.1 Trans systems change work_
Alongside our partners in the trans, LGBT+ and youth sectors we have identified a number of issues with trans and non-binary rights in regards to young people as follows:
- Patchy support nationally when it comes to people learning about their gender identity, with some people left without impartial, unbiased support compounded by negative media representation.
- Lack of trans or non-binary inclusion in schools leading to hostile environments and reduced opportunities to thrive in school, noticeably around attitudes of staff regarding using someone’s preferred name/pronoun; toilet access, equitable sport opportunities and restrictive gendered school uniforms.
- Lack of health care that recognises and supports trans and non-binary young people, including mental health, support around transition and wider health care.
We have been addressing these through social action and strategic development within the LGBT sector with partners; working with national government and bodies such as the EHRC and NHS to respond to research, policy or legal changes; creating our own support and advice pages on our website and ‘trans proofing’ checking the content of guides written by other bodies at their request; advising on research and creating our own research with academic partners.
We have also developed and released an animation series called ‘Incoming Transmissions’ which helps to educate people on how to make spaces more inclusive for trans and non-binary young people. This was released during the Digital Pride weekend in Manchester and is now being exhibited at the Whitworth Art Gallery.
## _3.2 Under one Roof support for parents/carers of LGBT+ people_
We have continued to successfully deliver a programme of support for parents and carers of LGBT+ young people across Greater Manchester. This was received well by those who went through the six week programme, and many of the parents and carers have stayed in touch with each other. The sessions are bespoke to each group, co-created with them depending on the needs and requests of participants. This has now become a standard part of our delivery offer to parents and carers.
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
_3.3 Training and resources_ including our national Rainbow Flag Awards scheme for schools We delivered training and workshops primarily for the youth, education and social care sectors. We asked 248 people we trained about the impact of our training:
The overall average rating of the training was 9/10 (people rated their understanding of LGBT+ issues at 6/10 before receiving training and 9/10 after receiving training)
- 97.7% of people trained have a better understanding of the experience of LGBT+ people (or trans people if training was trans-specific).
- 93% are more likely to take LGBT+ people's experiences seriously, with more skills to avoid patronising, sensationalising or pitying behaviour.
- 97.1% now know what steps they need to take to improve LGBT+ lives and challenge LGBTphobia where they live, learn, pray and play.
- 97.1% are more likely to set an example through usualising LGBT+ identities and making these visible in their everyday life, e.g. talking about then.
- 96.5% are more likely to advocate and stand up for LGBT+ people and the needs of LGBT+ people even in the face of hostility or other barriers.
We have continued our focus towards training adults and changing the wider culture within schools through a ‘whole school approach’. In this financial year we have trained 177 schools and colleges in Rainbow Flag Award Training and have piloted our Rainbow Flag Award for the youth sector with three organisations successfully participating in the pilot.
The Rainbow Flag Award utilises a whole school approach to achieve cultural change, with young people at the heart of the change. Rainbow Flag Award continues to be delivered nationally through our local partners, ensuring greatest possible reach.
We have continued to deliver the LGBT+ GSA (Groups in Schools’ Alliance) for schools who currently deliver LGBT+ groups even though this has been much quieter this year due to the closure of schools during lockdowns, which has reduced the possibility of these (often lunchtime) in-person groups in schools.
We collaborated with Schools OUT UK to deliver the official national LGBT+ History Month Pack on the theme of Politics in Art and had 4222 downloads of it this year, and sold 4999 educational resources in our online shop.
## 4. The Proud Place and community work
The Proud Place in Manchester provides a wide range of community services and a hub for LGBT+ youth work in the North West region. We officially took receipt of the building in September 2021, moving all of our services into the centre and beginning our trial usage period to understand how services will work and how the building can be used to its full capacity. We aim to be utilising the building fully by May 2022.
## 5. Research
This year we continued to work with Oxford University on a NIHR project to improve the health experiences of trans and non-binary young people, in spite of an increase in backlash against this work from the growing anti-trans lobby. The anti-trans lobby are claiming that either trans young people do not exist, should not exist, or are ‘confused’ or pressured by others into thinking they are trans. We therefore have a big piece of work to do to challenge this harmful narrative, and were disappointed to see an openly transphobic group get charitable status this year, and have been part of the lobby to challenge this decision.
We continue to be open to participation in research, however, we are also conscious of the impact this may have on the young people we work with. They attend The Proud Trust as a youth provision and therefore, we should not change their experiences by flooding provision with research.
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The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
6. Infrastructure support through structured networks and events We continue to coordinate:
- The Ireland, UK and surrounding Islands (IUKI) LGBT+ workers network, with 250 members representing 131 youth groups
- The North West England regional LGBT+ Youth Workers Network
- The National Trans Youth Workers Network
With these networks we have provided mutual support, training, resource development, sharing best practice, joint projects and events. We have produced joint statements for the public on topical issues.
In response to anti-trans voices, organisations such as LGBT+ Consortium, The Proud Trust, Stonewall and Gendered Intelligence have come together to be able to provide a more coordinated and organised response to anti-trans messages for the LGBT+ sector at large, by forming a working group and engaging in social action and work with the media.
We are currently supporting some other regions in England to form regional LGBT+ youth work networks as well as participate in the national networks.
## Achievements and Performance
Our key challenges during the year were shaped around the lasting impacts of COVID-19 on our beneficiaries and our staff team, as well as, embedding into a new LGBT+ centre in the heart of Manchester.
Working remotely during a pandemic created opportunities but also has impacted staff wellbeing and sense of connection. Whilst we now had an office base for staff to work in, we had some continued wellbeing work to do to ensure all felt comfortable with travel and seating arrangements.
The main achievements during the year were shaped by the impacts of the pandemic across all aspects of our services:
- To develop digital youth work and one-to-one support services for LGBT+ young people in the North West of England, especially in Greater Manchester and Cheshire
- To help young people maintain social and health outcomes as well as a sense of connection, in spite of the impacts of COVID-19 and numerous lockdowns throughout most of the year
- To rebuild the LGBT+ Centre which will be a new resource for the LGBT+ Community of Greater Manchester
- To develop new services to meet gaps in current provision, including Proud Connections, Proud Futures and Under One Roof
- To maintain and grow engagement from schools to address homophobia, biphobia and transphobia, and to develop a step-up in delivery for this work through the training of new delivery organisations across the country.
March 2022 marked the end of our one year Improvement Plan.
Many of the key targets in our plan were achieved or maintained such as the LGBT+ Centre rebuild project, implementation of job evaluation and competency framework systems and development of financial and fundraising systems.
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
However, the impact of the pandemic throughout the year and the structural changes to the organisation also shifted the emphasis and priorities of the organisation, in line with a fast changing and uncertain environment. Our one-year improvement plan comes from:
- Ratings, comments and suggestions from staff and trustees: over 400 comments and more than 300 suggestions for the plan
- Discussions in workshops facilitated by taproot
- Co-production of an action plan by staff and trustees
## Action plan
The action plan prioritised our internal structures and development for 2021/22. The action plan focuses on:
Governance: We found that the trustees have a good set of materials and resources to help them do their job. There were questions about whether they had enough information and processes in place to use them in practice, and whether staff and trustees know enough about each other’s roles and have enough opportunities to connect, so these are priorities for the coming year.
Planning and leadership: We found that we have had good planning processes for understanding what young people need and the world around us. We are good at deciding future business strategy and help for young people, but we have missed out recently on time to share our experiences of working together as a team. We have been growing and changing quite a lot and we realised a review of how we work together felt overdue. Not all of us understand how senior roles connect and how we can all know about and take part in planning. We want to review how we hold true to our values in a changing context and how all of our important voices are heard in planning. In order to drive this forward, a new CEO post has been created, Lisa Harvey-Nevil is in post from September, 2021 to enhance our leadership and impact.
Our offer to young people: We have been working with more young people year-on-year. We are confident in the quality and impact of our work with young people, and that we listen to them and help them have control and choice. We are good at keeping vulnerable young people safe and at being creative. We want to make sure we reach all young people who need us and that we offer young people ways of progressing and moving on. We want to think about how we formalise youth participation internally across all levels of the organisation.
Management and support: Staff, volunteers and trustees enjoy their jobs and are proud of what they achieve with and for young people. Working environments are positive and well resourced. People feel accepted and supported. There are some specific issues that we will need to work on around feeling overworked and under pressure, pay rates, teams structures, staff progression, greater clarity on wellbeing processes for staff and ensuring we are a diverse and representative workforce
Internal communication: We found that how we communicate between and within teams needs some work this year. This was the most important theme for our staff and trustees when we were writing this plan. We wanted to spend more time together, especially after the difficult year we have had. We wanted to know more about each other’s roles and work. We wanted to make sure we plan based on a good understanding of everyone’s experiences and insight. We want to maintain a positive and respectful communication culture.
Managing money: The financial position of the charity is stable, though there is a continuing need to generate income to replace any funds that are lost.
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## Trustees' Report for the year ended 31 March 2022
Working with others and reputation: We found that The Proud Trust has a good reputation and is a brand that is recognised and trusted. It has good relationships and is good at networking. There are good communications resources, and the media position is strong. We wanted to be able to respond more quickly to media requests and to continue to enable all staff and trustees to communicate about us and what we do. We want to do more to reach out to any communities that we have not reached well in the past and to organisations outside of the LGBT+ sector
Assessing outcomes and impact: We found from the research across the staff team that there is a strong understanding of outcomes and we are good at routinely asking young people to report on the impact we are having. We have also recently done some work to understand our impact on wider society. We want to make sure the messages from our evaluation are used when we plan for the future.
## Financial Review
Funders have been empathetic and flexible as we recover from the pandemic, with many extending funding and spending periods and rolling on funding for an additional year. In addition, funders have been happy for us to reallocate funds where we saw an underspend due to online delivery through the pandemic.
Trading income through training activity had a record year with the team fully embedding delivery in a virtual space which mobilised them to return to full delivery of the training programme and Rainbow Flag Award.
It was a healthy financial year for the organisation which has enabled a build up of reserves in line with Charity Commission best practice levels.
We continue to monitor the funding landscape carefully. While we saw flexibility from many of our public sector and statutory funders as we emerged from the pandemic, we can see that political and economic uncertainty is going to impact future funding. In response to this we have been working to increase our corporate and philanthropic funders to create a more diverse range of income streams, reducing the risk of instability in our funding and dependency on public sector income.
## Risk management
The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. The risk register for the organisation outlines and rates risks in relation to governance, management, operations, human resources, funding and resource procurement, finance, reputation and relationships, health and safety and compliance.
For each risk there is a record of recent developments to mitigate the risk, and future actions with a responsible person assigned to each and a date for completion or review. This is reviewed regularly by staff and by a different Trustee each quarter.
The main risks, potential impact and mitigating action facing the charity are as follows:
Funder priorities change or differ from ours: this would mean that for the young people affected, we are less able to do the work needed, fewer projects and less income to pay for staff. To mitigate this, staff identify which funders are a good fit, assess the priorities of key funders and look at mission overlap. The size of the charity means we have options to avoid funders that don’t fit with the organisation, and focus on those who do, as well as develop relationships with funders to help them prioritise equality and LGBT+ people as an often overlooked group amongst traditional grant giving organisations.
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
Failure to keep pace with changing market and sector environments: this would mean our services are no longer attractive to funders, schools or other markets, failure to meet income targets and the organisation’s approach becomes irrelevant to achieving our purposes. To mitigate this, we keep up to date within the field, training and networking, committee memberships, and conversations with young people and other beneficiaries, we carry out ongoing research into youth and community developments, and young people’s lives.
Where key staff leave: this leads to loss of experience and skills, recruitment costs and lead time to replace, re training costs with an operational impact on staff morale. To mitigate this, we put in place processes to have two staff familiar with each key area/ process to ensure knowledge transfer. We have staff showcase learnings to one another across programmes for knowledge transfers and work across teams. We have trialled the use of learning logs across three projects to improve cross organisational learning. Supervision is also in place to create awareness of one another’s roles, and identify opportunities to share learning.
## Reserves Policy
The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £300,000 is appropriate given the risks faced by the charity and the sustainability of its different income streams. Free reserves were £1,044,332. The increased reserves will be used in coming financial years to fund the expansion of the organisation, increasing capacity within the different strands of service delivery. This will bring our free reserves back in line with the reserves policy by 31st March 2024.
The total reserves at 31 March 2022 was £3,752,476 (2021: £3,489,258) of which £469,702 (2021: £1,126,762) are held in restricted reserves. The balance held in unrestricted reserves at 31st March 2022 was £3,282,774 (2021: £2,362,496), of which £1,044,332 (2021: £541,666) are free reserves, after allowing for funds tied up in tangible fixed assets and designated funds.
## Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 6[th] October 2005 and registered as a charity on 27[th] March 2015.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts.
## Related parties and relationships with other organisations
Any connection between a trustee or senior manager and any service providers must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. There were no transactions with elated organisations in this period.
## Remuneration policy for key management personnel
The Trustees have implemented a Job Evaluation Scheme in order to evaluate the need for any change to remuneration, this includes all management roles. Additionally, any change to the pay of the CEO requires approval from 3 Trustees.
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
## Recruitment and appointment of trustees
Trustees are elected annually by the members of the charitable company attending the Annual General meeting and serve for a period of three years, after which they retire but can be re-elected or co-opted back onto the board.
## Induction and training of trustees
New trustees receive a buddy through the existing Board, who sets out their roles and responsibilities, how the Board functions, and goes through the Trustee Induction policy with them. This includes a checklist of reading and activities, including gov.uk guidelines ‘The Essential Trustee’; meeting key members of staff; access to all policies, recent papers and minutes and strategic plans. They have access to the scheme of delegation, which lays out the role of the trustee board, and to the terms of reference for any sub-committees they join. They also complete conflict of interest documentation.
Trustees have the opportunity to undertake regular training, such as safeguarding and ‘Duties of a Trustee’ and financial training. This training is paid for by the organisation. In addition, they have access to best practice online guidance through ACAS (The Advisory, Conciliation and Arbitration Service) and the Charity Commission.
## Organisational structure
The Board of Trustees administers the charity. All Trustees meet quarterly as a main Board and then as sub committees with a group covering each of HR, Finance and Quality Assurance. Significant decision making comes to the main Board for approval.
The Board shapes the priorities of the organisation alongside the staff, and contributes to Business Development Plans through workshops and meetings. The Board holds the staff to account through feedback on quarterly reports from the staff regarding organisational plans and targets.
Trustees attend an away day each year to reflect on current developments/priorities.
## Statement of policies
The Proud Trust has a large suite of policies and procedures in place to safeguard and support staff, young people and volunteers. These include policies covering equality and diversity; environment and sustainability; recruitment and personnel; complaints and whistleblowing; safeguarding vulnerable people including DBS checks for staff and volunteers; data protection; health and safety; anti-bribery; disciplinary; grievance and modern slavery. These are all on a review rotation of 1-3 years, the Trustees take an active role via the sub-committees.
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## The Proud Trust Ltd
## Trustees' Report for the year ended 31 March 2022
## Statement of responsibilities of the trustees
The trustees (who are also directors of The Proud Trust for the purposes of company law) are responsible for preparing the trustees’ annual 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 charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- There is no relevant audit information of which the charitable company’s auditors are unaware
- The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## Auditors
Third Sector Accountancy Limited were re-appointed as the charitable company's auditors during the year and have expressed their willingness to continue in that capacity.
This report has been prepared in accordance with the provisions applicable to company’s subject to the small companies’ regime of the Companies Act 2006.
The trustees’ annual report has been approved by the trustees on and signed on their behalf by:
Christopher Murphy Company Secretary and Trustee
24 / 01 / 2023
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## Independent auditor’s report to the members of The Proud trust Ltd
## Opinion
We have audited the financial statements of The Proud trust Ltd (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
## In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2022 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## Other information
The other information comprises the information included in the trustees report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
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## Independent auditor’s report to the members of The Proud trust Ltd
## Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
## Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## Other matter
The corresponding figures were not audited.
## Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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## Independent auditor’s report to the members of The Proud trust Ltd
Capability of the audit in detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the charity and the environment in which it operates, we identified the principal risks of non-compliance with laws and regulations related to pension legislation, tax legislation, employment legislation, health and safety legislation, safeguarding legislation, data protection and other legislation specific to the environment in which the group operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the reporting requirements under the Charities SORP and FRS102, and the Charities Act 2011.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principle risks were related to the pressure on management to achieve particular results. Audit procedures performed by the group engagement team included:
- Review of policies;
- Review of insurance;
- Discussions with management including consideration of known or suspected instances of non-compliance;
- Evaluating management’s controls designed to prevent and detect irregularities;
- Identifying and testing journal entries; and
- Challenging assumptions and judgments made by management.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## Use of the audit report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and, the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Patrick Morrello (Senior Statutory Auditor) For and on behalf of Third Sector Accountancy Limited, Statutory Auditor Holyoake House Hanover Street Manchester M60 0AS
Date
25 / 01 / 2023
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## The Proud Trust Ltd
## Statement of Financial Activities
(including Income and Expenditure account) for the year ended 31 March 2022
**----- Start of picture text -----**
Unrestricted Restricted Total funds Unrestricted Restricted Total funds
funds funds 2022 funds funds 2021
Note £ £ £ £ £ £
Income from:
Donations and legacies 3 62,714 63,045 125,759 65,275 57,895 123,170
Charitable activities 4 172,735 704,365 877,100 38,241 803,384 841,625
Other trading activities 5 63,423 - 63,423 26,334 - 26,334
Investments 6 3,306 - 3,306 2,872 - 2,872
Total income 302,178 767,410 1,069,588 132,722 861,279 994,001
Expenditure on:
Raising funds 7 8,037 - 8,037 708 - 708
Charitable activities 8 120,488 677,845 798,333 67,220 650,280 717,500
Total expenditure 128,525 677,845 806,370 67,928 650,280 718,208
Net income/(expenditure) for the year 10 173,653 89,565 263,218 64,794 210,999 275,793
Transfer between funds 746,625 (746,625) - 1,498,142 (1,498,142) -
Net movement in funds for the year 920,278 (657,060) 263,218 1,562,936 (1,287,143) 275,793
Reconciliation of funds
Total funds brought forward 2,362,496 1,126,762 3,489,258 799,560 2,413,905 3,213,465
Total funds carried forward 3,282,774 469,702 3,752,476 2,362,496 1,126,762 3,489,258
**----- End of picture text -----**
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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The Proud Trust Ltd Company number 5885290
## Balance sheet as at 31 March 2022
**----- Start of picture text -----**
Note 2022 2021
£ £ £ £
Fixed assets
Tangible assets 15 2,207,692 1,500,552
Current assets
Debtors 16 81,810 133,153
Cash at bank and in hand 1,692,065 2,215,791
Total current assets 1,773,875 2,348,944
Liabilities
Creditors: amounts falling
due in less than one year 17 (229,091) (360,238)
Net current assets 1,544,784 1,988,706
Net assets 3,752,476 3,489,258
The funds of the charity:
Restricted income funds 19 469,702 1,126,762
Unrestricted income funds 20 3,282,774 2,362,496
Total charity funds 3,752,476 3,489,258
**----- End of picture text -----**
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006,
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 19 to 40 form part of these accounts.
24 / 01 / 2023
Approved by the trustees on _________________ and signed on their behalf by:
Matthew Smith (Treasurer)
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The Proud Trust Ltd
## Statement of Cash Flows
## for the year ending 31 March 2022
**----- Start of picture text -----**
Note 2022 2021
£ £
Cash provided by/(used in) operating activities 23 185,713 1,917,356
Cash flows from investing activities:
Dividends, interest, and rents from investments 3,306 2,872
Purchase of tangible fixed assets (712,745) (1,258,160)
Cash provided by/(used in) investing activities (709,439) (1,255,288)
Increase/(decrease) in cash and cash
equivalents in the year (523,726) 662,068
Cash and cash equivalents at the beginning of the year 2,215,791 1,553,723
Cash and cash equivalents at the end of the year 1,692,065 2,215,791
**----- End of picture text -----**
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The Proud Trust Ltd
Notes to the accounts for the year ended 31 March 2022
## 1 Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Proud Trust Ltd meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.
## b Judgments and estimates
The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
## c Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
## d Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
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The Proud Trust Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
## e Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
- f Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## g Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise the costs of commercial trading including merchandise sales.
- Expenditure on charitable activities includes the costs of the four activities identified in the notes, undertaken to further the purposes of the charity, and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## h Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.
## i Operating leases
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## j Tangible fixed assets
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
Freehold building - assets under construction 0% Office fixtures and equipment 33%
The freehold building has not been brought into use yet and so no depreciation has been charged.
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The Proud Trust Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
## k Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## l Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## m Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## n Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## o Pensions
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within support and governance costs and allocated to the funds of the charity using the methodology set out in note 9.
## 2 Legal status of the charity
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 3 Income from donations and legacies
|Donations
Cornavirus Job Retention Scheme
Donations for capital project
T
o
t
a
l
4
I
n
c
o
m
e
f
r
o
m
c
h
a
r
i
t
a
b
l
e
a
c
t
i
v
i
t
i
e
s
Young peoples services
Training resources and research
LGBT+ centre and café
T
o
t
a
l
Infrastructure support for LGBT+ youth
support|Unrestricted
£
58,980
3,734
-
62,714
Unrestricted
£
70,525
74,843
12,467
14,900
172,735|Restricted
£
-
-
63,045
63,045
Restricted
£
432,974
30,467
96,000
144,924
704,365|Total 2022
£
58,980
3,734
63,045
125,759
Total 2022
£
503,499
105,310
108,467
159,824
877,100|_Unrestricted_
_£_
_18,942_
_46,333_
_-_
_65,275_
_Unrestricted_
_£_
_6,750_
_24,638_
_6,853_
_-_
_38,241_|_Restricted_
_£_
_-_
_-_
_57,895_
_57,895_
_Restricted_
_£_
_564,258_
_10,000_
_65,067_
_164,059_
_803,384_|_Total 2021_
_£_
_18,942_
_46,333_
_57,895_
_123,170_
_Total 2021_
_£_
_571,008_
_34,638_
_71,920_
_164,059_
_841,625_|
|---|---|---|---|---|---|---|
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
5 Income from other trading activities
|Merchandise
Sponsorship
Other income
6
I
n
v
e
s
t
m
e
n
t
i
n
c
o
m
e
Income from bank deposits
7
C
o
s
t
o
f
r
a
i
s
i
n
g
f
u
n
d
s
Merchandise costs
Support and governance costs (see note 9)|Unrestricted
£
20,915
37,423
5,085
63,423
Unrestricted
£
3,306
3,306
Unrestricted
£
8,037
-
8,037|Restricted
£
-
-
-
-
Restricted
£
-
-
Restricted
£
-
-
-|Total 2022
£
20,915
37,423
5,085
63,423
Total 2022
£
3,306
3,306
2022
£
8,037
-
8,037|_Unrestricted_
_£_
_7,250_
_-_
_19,084_
_26,334_
_Unrestricted_
_£_
_2,872_
_2,872_
_Unrestricted_
_£_
_465_
_243_
_708_|_Restricted_
_£_
_-_
_-_
_-_
_-_
_Restricted_
_£_
_-_
_-_
_Restricted_
_£_
_-_
_-_
_-_|_Total 2021_
_£_
_7,250_
_-_
_19,084_
_26,334_
_Total 2021_
_£_
_2,872_
_2,872_
_2021_
_£_
_465_
_243_
_708_|
|---|---|---|---|---|---|---|
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 8 Analysis of expenditure on charitable activities
## Current year
|ect costs
stricted expenditure
restricted expenditure
_m_
_p_
_a_
_r_
_a_
_t_
_i_
_v_
_e_
_y_
_e_
_a_
_r_
_ect costs_
pport and governance
ts (see note 9)
_pport and governance_
_ts (see note 9)_|Young
peoples
services
£
313,176
107,084
420,260
401,030
19,230
420,260
_307,672_
_176,065_
_483,737_|Training,
resources
and research
£
28,531
7,024
35,555
3,584
31,971
35,555
_9,535_
_2,777_
_12,312_|LGBT+ centre
and café
£
110,531
157,569
31,448
42,970
141,979
200,539
105,465
167,766
36,514
32,773
141,979
200,539
_51,038_
_110,687_
_13,837_
_45,889_
_64,875_
_156,576_
Infrastructure
support for LGBT+
youth support|Total 2022
£
609,807
188,526
798,333
677,845
120,488
798,333
_478,932_
_238,568_
_717,500_|
|---|---|---|---|---|
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 9 Analysis of governance and support costs
|taff costs
onsultancy
nreclaimable VAT
ccountancy
dministration costs
l
l
o
c
a
t
e
d
a
s
f
o
l
l
o
w
s
:
oung peoples services
raining resources and research
GBT+ centre and café
ost of raising funds
nfrastructure support for LGBT+ youth|Support
£
112,407
33,756
3,653
-
36,050
185,866|Governance
£
-
-
-
2,660
-
2,660|_Total 2022_
£
112,407
33,756
3,653
2,660
36,050
188,526
107,084
7,024
31,448
42,970
-
188,526|_Support_
_£_
_137,328_
_71,612_
_14,551_
_-_
_12,660_
_236,151_|_Governance_
_£_
_-_
_-_
_-_
_2,660_
_-_
_2,660_|_Total 2021_
_£_
_137,328_
_71,612_
_14,551_
_2,660_
_12,660_
_238,811_
_176,065_
_2,777_
_13,837_
_45,889_
_243_
_238,811_|
|---|---|---|---|---|---|---|
The cost of staff involved in managing and supporting the charity as a whole have been included in support costs in 2021 and allocated to charitable activities on the basis of time spent. This is a change in presentation from the previous year, when the cost of those staff was included in expenditure on charitable activities (note 8).
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 10 Net income/(expenditure) for the year
|his is stated after charging/(crediting):
epreciation
uditor's remuneration - audit fees
uditor's remuneration - accountancy fees
t
a
f
f
c
o
s
t
s
taff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
A
l
l
o
c
a
t
e
d
a
s
f
o
l
l
o
w
s
:
Charitable activities
Support costs
Governance costs
ndependent examiner's fee|2022
£
4,318
3,500
1,200
-
2022
£
514,477
37,479
13,620
565,576
453,167
112,409
-
565,576|_2021_
_£_
_278_
_-_
_-_
_2,000_
_2021_
_£_
_445,406_
_30,309_
_11,956_
_487,671_
_483,761_
_3,910_
_-_
_487,671_|
|---|---|---|
## 11 Staff costs
No employees has employee benefits in excess of £60,000 (2021: Nil).
The average number of staff employed during the period was 35 (2021: 33).
The average full time equivalent number of staff employed during the period was 17.8 (2021: 17.9).
The key management personnel of the charity comprise the trustees, the Operational Director and the Strategic Director. The total employee benefits of the key management personnel of the charity were £48,506 (2021: £73,764).
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The Proud Trust Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
## 12 Trustee remuneration and expenses, and related party transactions
One trustee (2021: Nil) received travel and subsistence expenses during the year of £103 (2021: £Nil).
Apart from the above, neither the trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year (2021: Nil).
Aggregate donations from related parties were £0 (2021: £50,000).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: nil).
## 13 Government grants
The government grants recognised in the accounts were as follows:
|Manchester Health and Care Commissioning
Manchester City Council
GreaterSports
NHS West Cheshire CCG
Cheshire West & Chester Council Payments
Stockport Council
Trafford MBC
NHS Heywood, Middleton and Rochdale CCG
Greater Manchester Combined Authority
Department of Work and Pensions|2022
£
32,100
131,630
2,999
15,200
34,170
9,652
14,250
25,000
24,924
3,734
293,659|
|---|---|
## 14 Corporation tax
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 15 Fixed assets: tangible assets
**----- Start of picture text -----**
Furniture and
Assets under office
construction equipment Total
£ £ £
Cost
At 1 April 2021 1,498,830 17,570 1,516,400
Additions 638,952 73,793 712,745
Disposals - (17,570) (17,570)
At 31 March 2022 2,137,782 73,793 2,211,575
Depreciation
At 1 April 2021 - 15,848 15,848
Charge for the year - 4,161 4,161
Disposals - (16,126) (16,126)
At 31 March 2022 - 3,883 3,883
Net book value
At 31 March 2022 2,137,782 69,910 2,207,692
At 31 March 2021 1,498,830 1,722 1,500,552
16 Debtors
2022 2021
£ £
Trade debtors 32,014 42,867
Other debtors 2,881 41,242
Prepayments 3,664 1,264
Accrued income 43,251 47,780
81,810 133,153
17 Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 23,782 264,559
Other creditors and accruals 25,288 15,759
Deferred income 23,523 70,563
Taxation and social security costs 156,498 9,357
229,091 360,238
**----- End of picture text -----**
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The Proud Trust Ltd
Notes to the accounts for the year ended 31 March 2022 (continued)
**----- Start of picture text -----**
18 Deferred income
2022 2021
£ £
Deferred income brought forward 70,563 148,891
Income deferred in the period 23,523 70,563
Released to income from charitable activities (70,563) (148,891)
Deferred grant carried forward 23,523 70,563
**----- End of picture text -----**
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The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
|1
9|1
9|A
n
a
l
y
s
i
s
o
f
m
o
v
e
m
e
n
t
s
|A
n
a
l
y
s
i
s
o
f
m
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s||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||||||||||Balance at 1||||Balance at|
|||||||||||||||||||||||April 2021||||31 March|
|||F
u
n
d
e
r
a
n
d
p
r
o
j
e
c
t
|n
a
m
e||||||||||||||||||D
e
s
c
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i
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s||Income|Expenditure|Transfers|2022|
|||||||||||||||||||||||£|£|£|£|£|
|||Y
o
u
n
g
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e
o
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s
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s|||||||||||||||||||||||||
|||Bolton NHS CCG|||||||||||||||||||Programme for LGBT+ young people providing peer support|3,102|-|
(13)|-|
3,089|
||||||||||||||||||||||& for professionals working with young people in Bolton.||||||
|||CWAC Equality and|Diversity||||||||Third||||||||||LGBT+ awareness raising faith communities including|8,448|120|(1,109)|-|
7,459|
|||Sector Fund|||||||||||||||||||resources, events & Safer Person Projects training for young||||||
||||||||||||||||||||||people.||||||
|||Manchester Pride|||||||||||||||||||Package of BAME LGBT+ support for young people, events|5,926|-|
-|-|
5,926|
||||||||||||||||||||||and allies training.||||||
|||National Lottery Awards||||||For|||All||||||||||Youth groups & rainbow playground.|5,277|-|
(3,412)|-|
1,865|
|||NHS Manchester CCG and|||||||VCSE||||||Health||||||Trans health care navigator one to one support for young|8,041|32,100|(30,943)|-|
9,198|
|||and Wellbeing Fund|||||||||||||||||||people.||||||
|||Young Women's Health||||Project|||||||||||||||A package of support for young women.|2,666|-|
(2,734)|68|-|
|||GreaterSport|||||||||||||||||||Programmes of activity, also training staff and young leaders|2,274|2,998|(752)|-|
4,520|
||||||||||||||||||||||in coaching based qualifications.||||||
|||BBC Children in Need - CiN Trans|||||||||||||||||||Support for trans and non-binary young people|18,072|39,978|(32,669)|-|
25,381|
|||Young Manchester -|||YMCR|||||Main 2020-|||||||||||LGBT+ youth support and services across Manchester|24,847|65,705|(61,168)|-|
29,384|
|||22|||||||||||||||||||||||||
|||Young Manchester-|||YMCR Creative||||||||||||||||Programme of creative projects for LGBT+ young people|1,810|15,500|(9,601)|-|
7,709|
|||2020-22|||||||||||||||||||across Manchester||||||
|||Cheshire Clinical Commissioning Group|||||||||||||||||||LGBT+ Outreach Support in West Cheshire & Safer Person|2,095|15,200|(12,110)|-|
5,185|
||||||||||||||||||||||Project||||||
|||Cheshire West & Chester Borough|||||||||||||||||||Package of LGBT+ support, outreach and training in Cheshire|44,150|34,050|(28,306)|-|
49,894|
|||Council - CWAC YP|||||||||||||||||||||||||
|||The Gaddum Centre - Getting Help|||||||||||||||||||Package of LGBT+ group work and one-to-one support in|26,779|19,480|(19,686)|-|
26,573|
|||Rochdale|||||||||||||||||||Rochdale||||||
|||Stockport SMBC|||||||||||||||||||Package of LGBT+ support, outreach and training in|13,235|9,652|(8,588)|-|
14,299|
||||||||||||||||||||||Stockport||||||
|||Trafford MBC - 2020-22|||||||||||||||||||Package of LGBT+ support, outreach and training in Trafford|25,746|14,250|(12,952)|-|
27,044|
30
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
- 19 Analysis of movements in restricted funds
**----- Start of picture text -----**
Balance at 1 Balance at
April 2021 31 March
Funder and project name Description of nature and purposes Income Expenditure Transfers 2022
£ £ £ £ £
Trafford Housing Trust Roadshow for Trafford to promote LGBT+ services available 12,949 2,000 (14,187) - 762
to residents.
Wythenshawe Community Housing Package of LGBT+ support, outreach and training in 17,103 4,000 (3,951) - 17,152
Group Wythenshawe
Heywood, Middleton & Rochdale Package of LGBT+ support, outreach and training in Rochdale 18,135 25,000 (23,291) - 19,844
Clinical Commissioning Group
BBC Children in Need - Youth Futures Employability programme for LGBT+ young people whose 32,737 34,936 (38,229) - 29,444
mental health has been affected by COVID-19
BBC Children in Need - A Million & Me Help Services LGBT+ national support through online contact 20,324 32,450 (41,842) - 10,932
& content
The Empowerment People Residentials for young people 7,517 - - - 7,517
The WEA, ESF Community Grant To develop work place skills to enable access into - 5,000 (4,955) 45
employment and training for LGBT+ young people
Bolton Partnerships, Thrive Fund youth groups in Bolton - 7,583 (2,363) 5,220
Bolton CVS Planet Rainbow youth group - 25,000 (16,096) - 8,904
Early Break Oldham Package of LGBT+ support for young people in Oldham. - 3,072 (3,698) 627 1
Momentum Improvement of website user interface - 14,900 (15,425) 525 -
MHCC Population Health Development of Proud Connections, a digital support service - 10,000 (7,476) - 2,524
for LGBT+ young people and those supporting them
Oldham Food Project Partnership, studying young people's relationship with food - 20,000 (5,474) - 14,526
in Oldham
301,233 432,974 (401,030) 1,220 334,397
**----- End of picture text -----**
31
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
**----- Start of picture text -----**
19 Analysis of movements in restricted funds
Balance at 1 Balance at
April 2021 31 March
Funder and project name Description of nature and purposes Income Expenditure Transfers 2022
£ £ £ £ £
Training, resources and research
Durex Training Programme Sex and relationships education programme - 20,000 (3,501) - 16,499
Rainbow Flag Award Fund to develop the RFA programme scope in schools 6,088 10,467 (83) - 16,472
6,088 30,467 (3,584) - 32,971
LGBT+ centre and café
Our Manchester, MCC Equalities programme for LGBT+ communities through the 30,764 36,000 (31,710) - 35,054
LGBT+ Centre and Community Cafe.
Henry Smith Charity: Improving Lives Community cafe providing work experience, volunteering 10,852 60,000 (73,755) 2,903 -
scheme, training & group support & activities for LGBT+
people in Manchester.
41,616 96,000 (105,465) 2,903 35,054
**----- End of picture text -----**
32
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
**----- Start of picture text -----**
19 Analysis of movements in restricted funds
Balance at 1 Balance at
April 2021 31 March
Funder and project name Description of nature and purposes Income Expenditure Transfers 2022
£ £ £ £ £
Infrastructure support for LGBT+ youth support
Paul Hamlyn Foundation Towards core salaries of senior staff. 16,694 30,000 (44,499) - 2,195
Esmée Fairbairn Foundation Develop the quality & quantity of youth work with LGBT+ 57,341 65,000 (60,399) - 61,942
young people in England, including infrastructure support to
the education and youth sectors.
GMCA cultural and social impact fund Creative engagement with young people including BAME - 14,924 (13,313) - 1,611
LGBT young people and development of volunteering across
Greater Manchester.
Tudor Trust Staffing for core posts, LGBT+ mentor/peer support 829 30,000 (41,087) 10,258 -
development & organisational developments.
MCC Covid LGBT+ covid response 5,000 5,000 (8,468) - 1,532
79,864 144,924 (167,766) 10,258 67,280
New build project
Various funders For the new centre build project 697,961 63,045 - (761,006) -
Total 1,126,762 767,410 (677,845) (746,625) 469,702
**----- End of picture text -----**
33
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
19 Analysis of movements in restricted funds
|_Comparative period_||||||_Balance at_|
|---|---|---|---|---|---|---|
|||_Balance at 1_||||_31 March_|
|_Funder and project name_|_Description of nature and purposes_|_April 2020_|_Income_|_Expenditure_|_Transfers_|_2021_|
|||_£_|_£_|_£_|_£_|_£_|
|_Young peoples services_|||||||
|_Bolton NHS CCG_|_Programme for LGBT+ young people providing peer support_|_6,767_|_1,185_|_(4,850)_|_-_|
_3,102_|
||_& for professionals working with young people in Bolton._||||||
|_Children in Need_|_Delivery of trans and LGBT BAME young people's support_|_4,123_|_-_|
_-_|_(4,123)_|_-_|
|_Co-op Foundation #iwill_|_To reduce youth loneliness for LGBT+ people of faith across_|_3,692_|_24,348_|_(28,040)_|_-_|
_-_|
||_England._||||||
|_CWAC Equality and Diversity Third_|_LGBT+ awareness raising faith communities including_|_8,448_|_-_|
_-_|_-_|
_8,448_|
|_Sector Fund_|_resources, events & Safer Person Projects training for young_||||||
||_people._||||||
|_The Empowerment People_|_Youth worker time for young womens support_|_-_|_1,710_|_(1,710)_|_-_|
_-_|
|_Home Office Hate Crime Communty_|_Ticket To Pride Projects_|_103_|_-_|
_-_|_(103)_|_-_|
|_Projects_|||||||
|_Manchester Pride_|_Package of BAME LGBT+ support for young people, events_|_5,966_|_-_|
_(40)_|_-_|
_5,926_|
||_and allies training._||||||
|_MHCC Thrive_|_Mental health and wellbeing support for LGBT+ people and_|_3,443_|_18,230_|_(21,673)_|_-_|
_-_|
||_their families._||||||
|_National Lottery Awards For All_|_Youth groups & rainbow playground._|_9,715_|_-_|
_(4,438)_|_-_|
_5,277_|
|_NHS Manchester CCG and VCSE Health_|_Trans health care navigator one to one support for young_|_3,839_|_23,106_|_(18,904)_|_-_|
_8,041_|
|_and Wellbeing Fund_|_people._||||||
|_Oldham Council Youth Fund Kerrching_|_Package of LGBT+ support for young people in Oldham._|_2,906_|_-_|
_(2,906)_|_-_|
_-_|
|_Young Womens Health Project_|_A package of support for young women._|_-_|_8,320_|_(5,654)_|_-_|
_2,666_|
|_The Charity Service_|_Post therapeutic youth work, and volunteer scheme_|_-_|_7,280_|_(7,280)_|_-_|
_-_|
||_development._||||||
|_GreaterSport_|_Programmes of activity, also training staff and young leaders_|_-_|_26,986_|_(24,712)_|_-_|
_2,274_|
||_in coaching based qualifications._||||||
|_BBC Children in Need - CiN Trans_|_Support for trans and non-binary young people_|_-_|_42,583_|_(26,134)_|_1,623_|_18,072_|
|_Young Manchester - YMCR Main 2020-_|_LGBT+ youth support and services across Manchester_|_19,861_|_65,700_|_(60,714)_|_-_|
_24,847_|
|_22_|||||||
|_Young Manchgester- YMCR Creative_|_Programme of creative projects for LGBT+ young people_|_-_|_15,000_|_(13,190)_|_-_|
_1,810_|
|_2020-22_|_across Manchester_||||||
34
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
- 19 Analysis of movements in restricted funds
|_Comparative period_
_Funder and project name_
_Description of nature and purposes_
_Cheshire Clinical Comissioning Group_
_LGBT+ Outreach Support in West Cheshire & Safer Person_
_Project_
_Cheshire West & Chester Borough_
_Council - CWAC YP_
_Package of LGBT+ support, outreach and training in Cheshire_
_The Gaddum Centre - Getting Help_
_Rochdale_
_Package of LGBT+ group work and one-to-one support in_
_Rochdale_
_Stockport SMBC_
_Package of LGBT+ support, outreach and training in_
_Stockport_
_Trafford Housing Trust_
_Roadshow for Trafford to promote LGBT+ services available_
_to residents._
_Trafford MBC - 2020-22_
_Package of LGBT+ support, outreach and training in Trafford_
_Wythenshawe Community Housing_
_Group_
_Package of LGBT+ support, outreach and training in_
_Wythenshawe_
_Heywood, Middleton & Rochdale_
_Clinical Commissioning Group_
_Package of LGBT+ support, outreach and training in_
_Rochdale_
_The WEA, ESF Community Grant_
_To develop work place skills to enable access into_
_employment and training for LGBT+ young people_
_Cheshire Community Foundation/Steve_
_Morgan Foundation_
_Support for LGBT+ young people during covid_
_BBC Children in Need - Youth Futures_
_Employability programme for LGBT+ young people whose_
_mental health has been affected by COVID-19_
_BBC Children in Need - A Million & Me_
_Help Services LGBT+ national support through online contact_
_& content_
_The National Lottery Community Fund -_
_Catalyst_
_Development of the Help Services national line_
_The Empowerment People_
_Residentials for young people_|_Balance at 1_
_April 2020_
_Income_
_Expenditure_
_Transfers_
_£_
_£_
_£_
_£_
_£_
_Balance at_
_31 March_
_2021_
_-_
_17,084_
_(14,989)_
_-_
_2,095_
_32,938_
_38,000_
_(26,788)_
_-_
_44,150_
_24,955_
_19,014_
_(17,190)_
_-_
_26,779_
_10,140_
_9,562_
_(6,467)_
_-_
_13,235_
_13,465_
_-_
_(507)_
_(9)_
_12,949_
_22,604_
_14,250_
_(11,108)_
_-_
_25,746_
_12,979_
_8,833_
_(4,709)_
_-_
_17,103_
_12,558_
_25,000_
_(19,423)_
_-_
_18,135_
_-_
_19,741_
_(19,741)_
_-_
_-_
_-_
_9,640_
_(9,640)_
_-_
_-_
_-_
_34,935_
_(2,198)_
_-_
_32,737_
_-_
_32,450_
_(12,126)_
_-_
_20,324_
_-_
_7,784_
_(7,784)_
_-_
_-_
_-_
_7,517_
_-_
_-_
_7,517_
_198,502_
_478,258_
_(372,915)_
_(2,612)_
_301,233_|
|---|---|
35
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
- 19 Analysis of movements in restricted funds
|_Comparative period_
_Funder and project name_
_Description of nature and purposes_
_Training, resources and research_
_Classroom_
_Rainbow Flag Award_
_Fund to develop the RFA programme scope in schools_
_LGBT+ centre and café_
_Our Manchester, MCC_
_Equalities programme for LGBT+ communities through the_
_LGBT+ Centre and Community Cafe._
_Henry Smith Charity: Improving Lives_
_Community cafe providing work experience, volunteering_
_scheme, training & group support & activities for LGBT+_
_people in Manchester._
_We Love Manchester_
_Online activities LGBT+ covid response_|_Balance at 1_
_April 2020_
_Income_
_Expenditure_
_Transfers_
_£_
_£_
_£_
_£_
_£_
_Balance at_
_31 March_
_2021_
_-_
_10,000_
_(10,000)_
_-_
_-_
_-_
_2,792_
_(4)_
_3,300_
_6,088_
_-_
_12,792_
_(10,004)_
_3,300_
_6,088_
_16,545_
_36,000_
_(21,781)_
_-_
_30,764_
_-_
_59,900_
_(49,048)_
_-_
_10,852_
_-_
_2,375_
_(2,375)_
_-_
_-_
_16,545_
_98,275_
_(73,204)_
_-_
_41,616_|
|---|---|
36
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
- 19 Analysis of movements in restricted funds
|_Comparative period_
_Funder and project name_
_Description of nature and purposes_
_Infrastructure support for LGBT+ youth support_
_Paul Hamlyn Foundation_
_Towards core salaries of senior staff._
_Esmee Fairbairn Foundation_
_Develop the quality & quantity of youth work with LGBT+_
_young people in England, including infrastructure support to_
_the education and youth sectors._
_GMCA cultural and social impact fund_
_Creative engagement with young people including BAME_
_LGBT young people and development of volunteering across_
_Greater Manchester._
_LGBT Consortium_
_Support the development of LGBT+ futures fund & the LGBT+_
_sector's role in the Government's LGBT+ action plan work._
_NESTA Digital_
_Development of pilot online mentoring services & related_
_bespoke CRM system._
_Tudor Trust_
_Staffing for core posts, LGBT+ mentor/peer support_
_development & organisational developments._
_MCC Covid_
_LGBT+ covid response_
_New build project_
_Various funders_
_For the new centre build project_
_Total_|_Balance at 1_
_April 2020_
_Income_
_Expenditure_
_Transfers_
_£_
_£_
_£_
_£_
_£_
_Balance at_
_31 March_
_2021_
_12,500_
_50,000_
_(45,806)_
_-_
_16,694_
_32,268_
_109,135_
_(84,062)_
_-_
_57,341_
_-_
_14,924_
_(14,924)_
_-_
_-_
_-_
_3,000_
_(3,000)_
_-_
_-_
_15,194_
_-_
_(15,194)_
_-_
_-_
_-_
_32,000_
_(31,171)_
_829_
_-_
_5,000_
_-_
_-_
_5,000_
_59,962_
_214,059_
_(194,157)_
_-_
_79,864_
_2,138,896_
_57,895_
_- (1,498,830)_
_697,961_
_2,413,905_
_861,279_
_(650,280)_
_(1,498,142)_
_1,126,762_|
|---|---|
37
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 20 Analysis of movement in unrestricted funds
**----- Start of picture text -----**
Balance at 1 As at 31
April 2021 Income Expenditure Transfers March 2022
£ £ £ £ £
Free reserves 541,666 302,178 (128,525) 329,013 1,044,332
Designated funds
LGBT+ centre rebuild 280,000 - - (280,000) -
New fundraiser post 42,000 - - (11,250) 30,750
Designated property 1,498,830 - - 708,862 2,207,692
Total designated
funds 1,820,830 - - 417,612 2,238,442
Total unrestricted
funds 2,362,496 302,178 (128,525) 746,625 3,282,774
Comparative period
Balance at As at 31
1 April 2020 Income Expenditure Transfers March 2021
£ £ £ £ £
Free reserves 477,560 132,722 (67,928) (688) 541,666
Designated funds
LGBT+ centre rebuild 280,000 - - - 280,000
New fundraiser post 42,000 - - - 42,000
Designated property - - - 1,498,830 1,498,830
Total designated
funds 322,000 - - 1,498,830 1,820,830
Total unrestricted
funds 799,560 132,722 (67,928) 1,498,142 2,362,496
Name of
unrestricted fund Description, nature and purposes of the fund
**----- End of picture text -----**
Free reserves The unrestricted funds after allowing for all designated funds LGBT+ centre rebuild Funds set aside for the new building project New fundraiser post Funds set aside for the new fundraiser post Designated property The fixed assets are essential for the future operation of the charity and so are assets fund excluded from free reserves.
38
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
## 21 Analysis of net assets between funds
**----- Start of picture text -----**
General Designated Restricted
fund funds funds Total 2022
£ £ £ £
Tangible fixed assets - 2,207,692 - 2,207,692
Net current assets/(liabilities) 1,044,332 30,750 469,702 1,544,784
Total 1,044,332 2,238,442 469,702 3,752,476
Comparative period
General Designated Restricted
fund funds funds Total 2021
£ £ £ £
Tangible fixed assets (707,140) 2,207,692 - 1,500,552
Net current assets/(liabilities) 539,944 322,000 1,126,762 1,988,706
Total (167,196) 1,820,830 1,126,762 3,489,258
22 Analysis of net debt
At 1 April Cash flows At 31 March
£ £ £
Cash at bank and in hand 2,215,791 (523,726) 1,692,065
Net debt 2,215,791 (523,726) 1,692,065
At 1 April Cash flows At 31 March
£ £ £
Cash at bank and in hand 1,553,723 662,068 2,215,791
Net debt 1,553,723 662,068 2,215,791
**----- End of picture text -----**
39
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518
The Proud Trust Ltd
## Notes to the accounts for the year ended 31 March 2022 (continued)
23 Reconciliation of net movement in funds to net cash flow from operating activities
|N
e
t
i
n
c
o
m
e
/
(
e
x
p
e
n
d
i
t
u
r
e
)
f
o
r
t
h
e
y
e
a
r
A
d
j
u
s
t
m
e
n
t
s
f
o
r
:
Depreciation charge
Loss/(profit) on sale of fixed assets
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
N
e
t
c
a
s
h
p
r
o
v
i
d
e
d
b
y
/
(
u
s
e
d
i
n
)
o
p
e
r
a
t
i
n
g
a
c
t
i
v
i
t
i
e
s|2022
£
263,218
4,161
1,444
(3,306)
51,343
(131,147)
185,713|_2021_
_£_
_275,793_
_278_
_-_
_(2,872)_
_1,502,746_
_141,411_
_1,917,356_|
|---|---|---|
## 24 Contingent liability
There is a possibility that the charity may be required to return funds totalling £39,500 which it was prevented from spending during the pandemic.
40
Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518