CHARITY REGISTRATION NUMBER: 1174009
Organisation Design Institute
Unaudited Financial Statements
31 December 2021
THE ACCOUNTING CREW LIMITED
85 Tottenham Court Road London W1T 4TQ
Organisation Design Institute
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Statement of financial activities | 3 |
| Statement of financial position | 4 |
| Statement of cash flows | 5 |
| Notes to the financial statements | 6 |
Organisation Design Institute
Trustees' Annual Report
Year ended 31 December 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name Organisation Design Institute Charity registration number 1174009
Principal office
The trustees
Nicholas Richmond (Chair) Thomas Doering (Co-Chair) Hilary Frazer (Treasurer) (Appointed 1 February 2020) Jodie Goulden Peter Turgoose (Appointed 1 February 2020) Hajnalka Sagodi-Sturm Rosa Aurora Tabara (Appointed 1 February 2020) Accountants The Accounting Crew Limited
85 Tottenham Court Road London W1T 4TQ
Structure, governance and management
The Organisation Design Institute is a registered Charity, No.1174009, being a Charitable Incorporated Organisation, registered on 28 July 2017.
The Board of Trustees who served during the year and up to the date of signature of the financial statements are listed above.
The Charity does not have any paid staff. Valentina Moldovan and Dr Andrew Bratton are contracted to provide professional and curatorial services at a fixed rate and agreed number of hours for the year.
The Board of Trustees is governed and works in accordance with its Codex, which is reviewed and updated periodically. Trustees meet 4 times a year to set direction and review progress towards objectives.
The Board of Trustees are volunteers and do not receive an income from ODI. Expenses are paid, subject to policy and ODI financial performance, for attending board meetings and supporting events.
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Organisation Design Institute
Trustees' Annual Report (continued)
Year ended 31 December 2021
Objectives and activities
The charity's objectives are to advance learning and education in Organisation Design through research, curated information and events for members. Trustees follow guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
For the Organisation Design Institute, 2020 continued to be a productive year, despite challenges presented by the Covid-19 pandemic.
Individual and Corporate memberships continued to rise, combined with a varied and engaging programme of events. All management and membership activities needed to transfer from in-person to virtual platforms at short notice. None-the-less, a full programme served to retain long-standing participants and attract new interest.
The Organisation Design Institute also invested in strategic development projects to design and launch a new website, as well as improve back-office efficiency. Members of the Board were awarded Certified Organisation Development Practitioner (CODP) certification, to ensure requirements of 50% were met. Masterclasses were also adapted for online delivery, reviewed and accredited by the Organisation Design Community (ODC-C).
Given unusual circumstances presented by the pandemic, ODI followed a zero-based budgeting approach and reviewed its accounting practices to manage income and expenditure carefully. Consequently, ODI finished the year with sufficient funds to invest in future product and service development, as well as maintain reserves.
Financial highlights and annual reports are available upon request.
The trustees' annual report was approved on 15 April 2021 and signed on behalf of the board of trustees by:
H C Frazer (Treasurer) Trustee
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ORGANISATION DESIGN INSTITUTE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ORGANISATION DESIGN INSTITUTE
I report to the trustees on my examination of the financial statements of Organisation Design Institute (the charity) for the year ended 31 December 20 21 .
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements 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 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
................................. Jacqui Till (FMAAT)
Zest Accountancy Limited
Dated: 20 J uly 202 2
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Organisation Design Institute
Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 61,869 | 61,869 | 34,326 |
| Charitable activities | 5 | 34,182 | 34,182 | 13,240 |
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| Total income | 96,051 | 96,051 | 47,566 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 6 | (21,864) | (21,864) | (22,639) |
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| Total expenditure | 21,864 | 21,864 | 22,639 | |
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| Net income and net movement in funds | 74,187 | 74,187 | 24,927 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 60,224 | 60,224 | 35,297 | |
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| Total funds carried forward | 134,411 | 134,411 | 60,224 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 10 form part of these financial statements.
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Organisation Design Institute
Statement of Financial Position
31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 10 | 81,350 | 39,739 |
| Cash at bank and in hand | 53,061 | 30,673 | |
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| 134,411 | 70,412 | ||
| Creditors: amounts falling due within one year | 11 | -- | 10,188 |
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| Net current assets | 134,411 | 60,224 | |
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| Total assets less current liabilities | 134,411 | 60,224 | |
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| Net assets | 134,411 | 60,224 | |
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| Funds of the charity | |||
| Unrestricted funds | 134,411 | 60,224 | |
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| Total charity funds | 13 | 134,411════════ |
60,224════════ |
These financial statements were approved by the board of trustees and authorised for issue on 30 May 2022, and are signed on behalf of the board by:
H C Frazer (Treasurer) Trustee
The notes on pages 6 to 10 form part of these financial statements.
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The notes on pages 6 to 10 form part of these financial statements.
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Organisation Design Institute
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Office Suite 3, Shrieves Walk, Stratford Upon Avon, CV37 6GJ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Organisation Design Institute
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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Organisation Design Institute
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations from EODF | 61,869 | 61,869 | 34,326 | 34,326 |
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Organisation Design Institute
Notes to the Financial Statements (continued)
Year ended 31 December 2021
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Corporate Memberships | 24,976 | 24,976 | 4,481 | 4,481 |
| Individual Memberships | 9,205 | 9,205 | 8,759 | 8,759 |
| Conference Fees | – | – | -- | -- |
| Masterclass Fees | – | – | -- | -- |
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| 34,181 | 34,181 | 13,240 | 13,240 | |
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6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | 2021 | 2020 | ||
| £ | £ | £ | ||
| Activity type 1 | 21,864 | 21,864 | 22,639 | |
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| 7. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Foreign exchange differences | (1306)════ |
(580)═══════ |
8. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 |
|---|---|
| £ | £ |
The average head count of employees during the year was Nil (2020: Nil).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
9. Trustee remuneration and expenses
no remuneration or other benefits from employment with the charity or a related entity were received by the trustees
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Organisation Design Institute
Notes to the Financial Statements (continued)
Year ended 31 December 2021
10. Debtors
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Trade debtors | 1,345 | 225 | |||
| Amounts owed by group undertakings | 80,005 | 33,943 | |||
| Prepayments and accrued income | -- | 135 | |||
| Other debtors | -- | 5,436 | |||
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| 81,350 | 39,739 | ||||
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| 11. | Creditors: amounts falling due within one year | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accruals and deferred income | -- | 10,188 | |||
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| 12. | Deferred income | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Amount deferred in year | -- | 10,188 | |||
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| 13. | Analysis of charitable funds | ||||
| Unrestricted funds | |||||
| At 31 | |||||
| At | December | ||||
| 1 January 2021 | Income |
Expenditure | 2021 | ||
| £ | £ | £ | £ | ||
| General funds | 60,224 | 96,051 | (21,864) | 134,411 |
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| At | |||||
| At | 31 December | ||||
| 1 January 2020 | Income |
Expenditure | 2020 | ||
| £ | £ | £ | £ | ||
| General funds | 35,297 | 47,566 | (22,639) | 60,224 |
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| 14. | Analysis of changes in net debt | ||||
| At | |||||
| At 1 Jan 2021 | Cash flows | 31 Dec 2021 | |||
| £ | £ | £ | |||
| Cash at bank and in hand | 11,527 | 41,534 | 53,061 | ||
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