Charity Number: 1174898 Company Number: 7284602
The John Smith Trust
Annual Report and Accounts
For the year ended 30 September 2023
The John Smith Trust
Reference and administrative details
Trustees The Rt Hon. Lord Alderdice David Charters Baron Duncan of Springbank Stephen Gethins Alex Just Craig Oliphant Baroness Smith of Gilmorehill The Hon. Catherine Smith Baroness Suttie Senior management Maija Paasiaro, Director Company number 07284602 Charity number 1174898 Bankers Triodos Bank Deanery Road Bristol BS1 5AS Registered office 3rd Floor Suite 207 Regent Street London W1B 3HH Independent examiner Narges Cyroos Sterling Partners Limited 2nd Floor, Grove House 774-780 Wilmslow Road Manchester M20 2DR
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The John Smith Trust
Trustees’ report for the year ended 30 September 2023
The trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 30 September 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Memorandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (revised 2015).
Structure, Governance and Management
Governing Document
The John Smith Trust is a charitable company limited by guarantee, incorporated on 15 June 2010 and registered as a charity on 29 September 2017. The company is governed by its Memorandum and Articles of Association.
Organisational Structure
The directors of the charitable company are its trustees for the purpose of charity law and the members of the company limited by guarantee. Throughout this report they are collectively referred to as the trustees.
The following individuals served as trustees during the year and since the year end:
The Rt Hon. Lord Alderdice David Charters Baron Duncan of Springbank Stephen Gethins Alex Just Craig Oliphant Baroness Smith of Gilmorehill The Hon. Catherine Smith Baroness Suttie (appointed 10 May 2023)
All trustees served for the full period unless otherwise stated above.
No trustees had any beneficial interest in the charity and no remuneration of trustees is paid by the charity.
The Board of Trustees is responsible for the strategic direction, policy and overall governance of the charity.
The implementation of strategy once agreed and the day to day running and management of the charity’s activities is delegated to the secretariat, led by the Director.
The charitable company started trading on 24 October 2016. Prior to this, the Trust’s fellowship programmes were delivered through an unincorporated charitable trust (The John Smith Trust constituted as a charitable trust under English law on 27 August 1996 and registered with the Charity Commission as charity number 1057885). After a period of in-activity the Trustees decided to re-constitute the charity's governance arrangements incorporating as a charitable company limited by guarantee. The directors of the charitable company were also the Trustees of the pre-existing charitable trust, until that trust was formally dissolved on 20 February 2019.
Recruitment and appointment of new trustees
New Trustees are recruited by the Board who consider the skills currently available and then identify the requirements of any additional or replacement trustee. Potential trustees are invited to preliminary discussions with at least two current trustees and the Director. On successful appointment of a trustee, the Director provides documentary and verbal induction material to introduce the trustee to the workings and objectives of the charity.
Objectives and principal activities
The Trust works to advance the education of the public in political sciences, in particular in relation to democratic systems of government and the rule of law.
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The John Smith Trust
Trustees’ report for the year ended 30 September 2023
In furtherance of its charitable objectives, the Trust carries out a range of activities which are summarised below.
Activities and Achievements
The John Smith Trust contributes to the development of sustainable, fair and inclusive societies in Eastern Europe, Russia, the South Caucasus and Central Asia. Through our fellowship programmes and network activities, we inspire and nurture a collaborative community of leaders and change-makers working on governance, social justice and climate action to improve the well-being of their societies.
Through its fellowship programmes the Trust has developed a highly successful model for building leadership capacity and a network where good governance and public service are key values. Candidates are only selected if they have demonstrated that they have the ability or are in positions where there is the potential for them to effect change through the implementation of year-long action plans/projects. This is assessed by examining the type of organisation within which they work (and its commitment to the public good), their ability to influence change within that organisation or across society more broadly and their openness to reflect on new ideas and benefit from the fellowship.
The traditional John Smith fellowship involves a year-long engagement with a four week UK based residential programme at its heart. This offers participants the chance to explore collectively and individually how politics, business, public administration and culture work (or fail) in another national environment. UK experience is a major focus yet many of the speakers (who represent all sectors of UK society) have international expertise. Crucially, each of the participants submits an Action plan – or project – which they have the chance to develop and explore during their 4 weeks in the UK. These plans are then implemented on their return. The majority of plans have a direct relevance to helping build rules-based, people-focused policy and practices.
Until 2011 the programme drew its fellows exclusively from the former Soviet Union (FSU). From 20122015 the Trust also worked in the Middle East and North Africa (MENA) region on a programme funded by the UK Government's Foreign and Commonwealth Office (FCO/FCDO). From 2017 to 2019, the Trust ran two annual fellowship programmes for 12 FSU countries with the support of the FCO: one for 25 fellows from Wider Europe (Armenia, Azerbaijan, Belarus, Georgia, Moldova, Russia and Ukraine); and one for 25 fellows from Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan).
This steady stream of approximately 50 new fellows per year reinvigorated the Trust’s Alumni network. Since 2018, the Trust has also launched a programme of alumni events to harness and develop this renewed engagement. ‘Alumni Ideas Exchange’ events took place in Tbilisi in 2018, Bishkek in 2019 and (although originally planned to take place in Kyiv) online in March 2020. JST has put great effort into building the means for its Alumni network to connect, share and collaborate outside formal events. The intention has been to allow for greater connectivity between JST fellows, staff and the JST’s wider network of supporters, to increase JST’s ‘offer’ to its fellows and to allow JST to sustain its work and impact outside of programme periods.
During the 2020-2021 pandemic, the Trust focused its efforts solely on developing an online community of programme alumni in the FSU region by offering webinars with UK experts, practical thematic online discussions and informal networking opportunities. Through the JST’s online network activities, fellows were able to access practical support, share skills, ideas and knowledge and exchange reliable information across the FSU region and the UK. The network proved an effective platform for support and communication during the early months of the pandemic and was put to good use during further crises and instability in the region. The connections built online over the last couple of years have enabled the Trust to re-establish contact with many of its past programme participants and provided a solid foundation for collaboration and joint projects addressing governance, rule of law and social justice challenges in the region.
In the post-pandemic period 2021-22, the Trust built upon these achievements further through online and face-to-face engagement, including by supporting smaller-scale alumni ideas exchange events proposed by groups of fellows, with the intention of creating new opportunities for network activities and collaborative
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The John Smith Trust
Trustees’ report for the year ended 30 September 2023
online community-building being incorporated into future residential fellowship programmes. These were anticipated to commence in 2022. However, these plans were disrupted by Russia’s full-scale invasion of Ukraine and the consequent re-direction of FCDO resources in support of Ukraine. Instead, the Trust implemented several in-person activities to develop its network further, including building on its existing Ideas Exchange format by bringing programme alumni back to the UK.
During the period under review, the Trust was finally able to re-launch its traditional regional Fellowship Programme with certain adaptations in format and participant numbers which reflect the reduced level of funding available from the FCDO. A hybrid programme was developed and implementation commenced during the reporting period with lessons learned from online activities developed during the pandemic, incorporating alumni community network building into the programme and responding to the tensions within the geopolitical context. The re-launched programme received a record number of applicants from target countries and a high level of interest from UK stakeholders.
As discussed under Organisational Structure above this is the sixth period of trading for the charitable company having replaced a pre-existing charitable trust of the same name. The decision to incorporate the Trust followed a period of uncertainty that saw the charitable trust close its office and release its staff team in response to a lull in funding. Subsequent programmes were managed initially by Trustees supported by a team of freelance staff, in 2018 the Trust started to re-build a core team of employed staff and this trajectory has continued in the current reporting period. The Trust now has five permanent staff. The Trustees remain acutely aware of the funding risks faced by the new charitable company, especially as the charity only has short-term project-based funding from one donor, but wish to balance that risk with commitment to the staff team.
Public Benefit
The Trust carries out a range of activities in furtherance of its charitable objectives, as detailed under Activities and Achievements above. Having reviewed the Charity Commission’s general guidance on public benefit, the Trustees consider that these activities provide benefit both to the charity’s direct beneficiaries, the John Smith fellows, and to the wider public both in the UK and abroad.
Risk Management
The Trustees regularly review the risks the charity faces and are satisfied that systems are in place to mitigate their exposure to the major risks.
Future Plans
Trustees held a strategic planning meeting in February 2023 to review the organisational strategy in light of geopolitical developments and agreed to focus on the following:
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Relaunch of updated and adapted residential fellowship programmes for the post-pandemic world, which incorporates the learning and opportunities opened up by our online alumni communitybuilding activities and reflects the changing global context, including increased polarization, populism and instability as well as the climate emergency.
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Further development of opportunities for the Trust’s network of senior leaders to connect and collaborate with each other as well as their counterparts in the UK on issues of mutual importance.
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• Exploration of a strategic partnership with one or more prestigious universities.
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Diversification of income sources.
Financial review
In financial terms this was another challenging but ultimately successful year for the charity. The charity’s income grew significantly in year up 48% to £368k (2022, £249k). This followed 4 years of decline and stagnation due to factors including the effect of the covid-19 pandemic on the charity’s operating model and the fact our main donor FCO/FCDO underwent structural changes and budget cuts. The trustees remain cautiously optimistic that the new department, FCDO, will eventually provide long-term funding of our flagship fellowship programme although for now support remains short term and project-based. At the same time expenditure also increased by £125k / 55% to £351k (2022, £226k) with the main driver of increased costs the Oxford Ideas Exchange in March 2023, a welcome return to UK events featuring fellows from across the Eastern Europe and Central Asia region albeit on a smaller scale than previous years. Overall, the charity enjoyed a small surplus of £17k in year, slightly down on the previous year’s £22k.
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The John Smith Trust
Trustees’ report for the year ended 30 September 2023
We expect a similar situation in the immediate future. Building on the income increase in the year under review we expect a further increase in the year ahead, and new funding for the government financial year starting April 2024 to March 2025 has been verbally agreed at a level sufficient to sustain the hybrid delivery model developed in recent years. In response to this the Trustees are looking to develop new leadership programmes building on our FSU geographical specialism to broaden the appeal of the trust and draw in support from other potential donors.
Reserves
The charity's income in the period was exclusively short-term project-based funding. To manage the uncertainty this causes, the Trustees’ policy is to maintain reserves at a level sufficient to cover at least 6 months of salary and support costs. Based on the spend in these accounts this is equivalent to £97k.
At the balance sheet date, the charity’s reserves (which are shown as unrestricted funds in the balance sheet) stood at £133k. The Trustees are pleased to note that after reducing our core spending commitments over recent years reserves are now above the target figure.
Responsibilities of the Trustees in relation to the financial statements
The trustees (who are also the directors of The John Smith Trust for the purposes of company law) are responsible for preparing the Report of the Trustees 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 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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• 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.
This report was approved by the Board of Trustees on 25 June 2024 and signed on its behalf by:
David Charters Trustee
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Report of the independent examiner to the members of The John Smith Trust for the year ended 30 September 2022
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of abody listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Narges Cyroos BSc FCA Sterling Partners Limited Chartered Accountants 2nd Floor Grove House 774-780 Wilmslow Road Manchester M20 2DR
Date: .25 June 2024
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The John Smith Trust Statement of Financial Activities
for the year ended 30 September 2023
| Notes Income Grants Total Income 2 Expenditure Charitable activities |
2023 Unrestricted Funds £ 27,987 27,987 10,943 |
2023 Restricted Funds £ 340,484 340,484 340,484 |
2023 Total Funds £ 368,471 368,471 351,427 |
2022 Total Funds £ 248,569 |
|---|---|---|---|---|
| 248,569 | ||||
| 226,075 | ||||
| Total expenditure 3 |
10,943 | 340,484 | 351,427 | 226,075 |
| Net income / (expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 7 |
17,044 - 17,044 115,778 132,822 |
- - - - - |
17,044 - 17,044 115,778 132,822 |
22,494 |
| - | ||||
| 22,494 | ||||
| 93,284 | ||||
| 115,778 | ||||
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The John Smith Trust Balance Sheet
as at 30 September 2023
| Notes Fixed assets Tangible assets 4 Current assets Debtors 5 Cash at bank and in hand Creditors:amounts falling due within one year 6 Net current assets Net assets Funds Unrestricted funds 7 Restricted funds Total funds |
2023 £ 1,043 1,043 59,226 183,079 242,305 (110,526) 131,779 132,822 132,822 - 132,822 |
2022 £ 936 |
|---|---|---|
| 936 | ||
| 3,017 277,883 |
||
| 280,900 | ||
| (166,058) | ||
| 114,842 | ||
| 115,778 | ||
| 115,778 - |
||
| 115,778 | ||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023, and the members have not required the company to obtain an audit of its financial statements for the year in accordance with Section 476 of the Act.
The Trustees acknowledge their responsibilities for:
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(i) ensuring that the company keeps proper accounting records which comply with section 386 of the Act, and
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(ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2019).
The notes on page 10 to 14 form part of these financial statements.
Approved by the Board on 25 June 2024 and signed on their behalf by
David Charters Trustee
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The John Smith Trust Statement of Cash Flows
for the year ended 30 September 2023
| 2023 £ |
2022 £ 22,494 1,276 70,652 (88,460) |
|
|---|---|---|
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges (lncrease)/decrease in debtors lncrease/(decrease) in creditors Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of fixed assets Net cash provided by (used in) investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
17,044 1,457 (56,209) (55,532) (93,240) (1,564) |
|
| 5,962 | ||
| - | ||
| (1,564) | - | |
| 5,962 271,921 |
||
| (94,804) | ||
| 277,883 | ||
| 183,079 | 277,883 |
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The John Smith Trust Notes to the accounts for the year ended 30 September 2023
1 Principal accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below;
(a) Basis of accounting
These financial statements have been prepared under the historical cost convention in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ effective January 2019 (the Charities SORP (FRS 102)), UK accounting standards, including 'Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland' (FRS 102) and the Companies Act 2006. The charity is a public benefit entity and has therefore applied the relevant public benefit requirements of FRS 102.
The financial statements are prepared in Sterling which is the functional currency of the charity.
(b) Fund accounting
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(i) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
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(ii) Restricted funds are subject to specific conditions imposed by the donor as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
(c) Income
All income is included in the statement of financial activities when the charity is entitled to it and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
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(i) Grants and donations are included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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(ii) Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
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(iii) Donated services and facilities are included at the value to the charity where this can be quantified.
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(iv) The value of services provided by volunteers has not been included in these accounts.
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(v) Investment income is included when receivable on an accruals basis.
(d) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred, and includes any VAT which cannot be fully recovered.
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(i) Fundraising costs comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
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(ii) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them
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(iii) Support costs relate to those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel and governance costs. These costs have been allocated to fund raising and specific areas of charitable activity on a basis consistent with the use of resources.
(e) Tangible fixed assets and depreciation
Tangible fixed assets costing over £500 (including any incidental expenses of acquisition) are capitalized. Depreciation is provided at rates calculated to write off the cost on a straight line basis over their expected useful economic life. The rate of depreciation is 33.33% per annum for all assets.
(f) Foreign currency
Transactions in foreign currencies are initially recorded in the entity’s functional currency, which is pound sterling, by applying the spot exchange rate on the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange on the balance sheet date. All differences are taken to the statement of financial activities.
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The John Smith Trust
Notes to the accounts for the year ended 30 September 2023
| 2 Income |
funds £ Unrestricted |
Restricted funds £ |
Total 2023 £ |
Total 2022 £ |
|---|---|---|---|---|
| FCDO | 27,987 | 340,484 | 368,471 | 248,569 |
| Total 3 Expenditure Charitable activities Salaried staff Freelance staff Fellows travel & accomodation costs Event staging costs Other direct programme costs Support costs Total charitable activities Total expenditure |
27,987 funds £ - - - 349 10,594 10,943 10,943 Unrestricted |
340,484 Restricted funds £ 148,625 9,538 63,574 39,322 44,832 34,593 340,484 340,484 |
368,471 Total 2023 £ 148,625 9,538 63,574 39,322 45,181 45,187 351,427 351,427 |
248,569 Total 2022 £ 134,193 9,643 - 16,265 24,007 41,967 226,075 226,075 |
Support costs, as detailed below, relate to the staff and running costs of the Trust's London secretariat and are allocated on a basis consistent with the use of resources.
| Support costs Staff Freelance staff IT & office costs Board meetings Independent examination fee Legal & professional Other |
function £ 2,984 2,000 - 60 2,400 - - 7,444 Governance |
General support £ 14,455 12,766 9,310 - - 411 801 37,743 |
Total 2023 £ 17,439 14,766 9,310 60 2,400 411 801 45,187 |
Total 2022 £ 18,379 11,237 6,549 - 2,200 3,352 250 |
|---|---|---|---|---|
| 41,967 |
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The John Smith Trust
Notes to the accounts for the year ended 30 September 2023
| 4 Tangible fixed assets Cost At 30 September 2022 Additions in year At 30 September 2023 Depreciation At 30 September 2022 Charge for the period At 30 September 2023 Net Book Value At 30 September 2023 At 30 September 2022 5 Debtors:amounts falling due within one year |
2023 £ |
Computer equipment £ 6,282 1,564 7,846 5,346 1,457 6,803 1,043 936 2022 £ |
|---|---|---|
| Prepayments & accrued income | 59,166 | #REF! |
| Other debtors Total 6 Creditors:amounts falling due within one year Trade creditors Deferred Income Accruals & other creditors Total Summary of movements in year on deferred income Balance at 1 October Released in year Deferred in year Balance at 30 September |
60 59,226 2023 £ 3,569 103,555 3,402 110,526 2023 £ 162,860 (59,305) - 103,555 |
3,017 3,017 2022 £ - 165,060 998 166,058 2022 £ 250,000 (87,140) - 162,860 |
Deferred income stated above relates to income received from donors which has been used to cover time-specific programme costs (primarily staff salaries plus on costs) during the period under review.
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The John Smith Trust
Notes to the accounts for the year ended 30 September 2023
| 7 Movements in funds Restricted Funds EECA Wider Europe & Central Asia Programme Unrestricted funds General funds Total funds Restricted Funds |
Balance at 01-Oct-22 £ - - - 115,778 115,778 115,778 Balance at 01-Oct-21 £ |
Incoming £ 286,570 53,914 340,484 27,987 27,987 368,471 Incoming £ |
Outgoing £ (286,570) (53,914) (340,484) (10,943) (10,943) (351,427) Outgoing £ |
Transfers in / (out) £ - - - - - - Transfers in / (out) £ |
Balance at 30-Sep-23 £ - - |
|---|---|---|---|---|---|
| - | |||||
| 132,822 | |||||
| 132,822 | |||||
| 132,822 | |||||
| Balance at 30-Sep-22 £ |
|||||
| Wider Europe & Central Asia Programme | - | 225,418 | (225,418) | - | - |
| Unrestricted funds General funds Total funds |
- 93,284 93,284 93,284 |
225,418 23,151 23,151 248,569 |
(225,418) (657) (657) (226,075) |
- - - - |
|
| - | |||||
| 115,778 | |||||
| 115,778 | |||||
| 115,778 | |||||
| EECA | A hybrid fellowship programme designed to nurture a collaborative community of leaders and change-makers working on governance, social justice and climate action across Eastern Europe, the Caucasus and Central Asia (EECA) and the UK. A pilot programme was run between November 2022 and March 2023 with funding from the FCDO and toward the end of the year a further round of funding from the FCDO was confirmed. |
||||
| Wider Europe & Central Asia Programme | A fellowship programme featuring fellows from 12 FSU countries (7 in Europe and 5 in the Central Asia region). The programme ran as a traditional fellowship from October 2016 to March 2020 with funding and logistic support from the FCO. After a hiatus due to Covid the programme restarted in June 2021 initially adopting an online format developed as part of the Covid response project. |
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The John Smith Trust
Notes to the accounts for the year ended 30 September 2023
8 Staff costs and numbers
| 2023 2022 £ £ Gross wages and salaries 146,312 132,000 Social security costs 8,249 8,844 Pension 11,504 11,728 166,065 152,572 The average number of staff employed during the period was 5 5 Staff costs have been analysed as: 2023 2022 £ £ The total compensation to key management personnel (see Senior Management - page 1 of these accounts) was £54,000 (2022, £48,600). |
2023 2022 £ £ Gross wages and salaries 146,312 132,000 Social security costs 8,249 8,844 Pension 11,504 11,728 166,065 152,572 The average number of staff employed during the period was 5 5 Staff costs have been analysed as: 2023 2022 £ £ The total compensation to key management personnel (see Senior Management - page 1 of these accounts) was £54,000 (2022, £48,600). |
2023 2022 £ £ Gross wages and salaries 146,312 132,000 Social security costs 8,249 8,844 Pension 11,504 11,728 166,065 152,572 The average number of staff employed during the period was 5 5 Staff costs have been analysed as: 2023 2022 £ £ The total compensation to key management personnel (see Senior Management - page 1 of these accounts) was £54,000 (2022, £48,600). |
|---|---|---|
| Direct charitable expenditure | 148,625 | 134,193 |
| Support | 17,439 | 18,379 |
| 166,064 | 152,572 |
9 Trustees' remuneration and expenses
The charity did not pay to its trustees any remuneration during the year (2022, £nil) and reimbursed 3 trustees a total of £1,486 expenses in relation to the charities activities (2022, £nil).
10 Analysis of net assets between funds
| Fixed Assets Current assets Current liabilities Net assets at 30 September 2023 |
General Funds £ 1,043 138,750 (6,971) 132,822 |
Restricted funds £ - 103,555 (103,555) - |
Total funds £ 1,043 242,305 (110,526) |
|---|---|---|---|
| 132,822 |
11 Pensions
The charity operates an auto-enrolment pension scheme with The Peoples Pension. All employees are eligible, and the charity pays an 8% employer's contribution. Pension costs stated in note 8 and charged in the statement of Financial Activities represent the total contributions payable by the charity in the year.
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