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2022-12-31-accounts

Charity number: 1176434

GIVEOUT

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

GIVEOUT

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Chair's Statement 2
Executive Director's Statement 3
4 - 14
Trustees' Report
Independent Auditors' Report on the Financial Statements 15 - 18
Statement of Financial Activities 19
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Financial Statements 22 - 35

GIVEOUT

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees

Elliot Vaughn, Chair Bruna Gil, Vice Chair (appointed 9 February 2022) Geffrye Parsons, Treasurer Iain Anderson, Trustee (resigned 28 October 2022) Baroness Elizabeth Barker, Trustee Neville Gabriel (appointed 12 December 2022) Daniel Gerring, Trustee Alison McFadyen, Trustee Michaela Muscat, Trustee (resigned 31 December 2022) Radhika Piramal, Trustee (appointed 4 April 2023) Aisha Shaibu, Trustee Mike Stamp, Trustee

Charity registered number

1176434

Registered address

3rd Floor, Thomas Ford House 23-24 Smithfield Street London EC1A 9LF

Executive Director

Rupert Abbott

Independent auditors

Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ

Bankers

HSBC UK Bank PLC 8 Canada Square London E14 5HQ

Page 1

GIVEOUT

CHAIR'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

Welcome to GiveOut’s annual report covering our work in 2022.

Inside you will find our audited accounts for the year as well as updates on the difference our supporters are making to lesbian, gay, bisexual, trans, queer, and intersex (LGBTQI) communities across the globe.

GiveOut has maintained fully audited accounts since our first year of operation and these are available on the Charity Commission’s website.

GiveOut launched in 2018 with the mission to grow giving to support LGBTQI human rights worldwide. In just five years, through a period of pandemic, political upheaval, the impacts of climate change and other crises, we are so proud of what we have achieved together with our community and allies.

We have built an award-winning, unique organisation, providing a new way for our community and allies to support global LGBTQI activism. Prioritising good governance, we have brought together a world class, diverse board of trustees. We have built an expert staff team working across growing giving, grant-making and operations, ensuring our supporters’ donations are used responsibly, efficiently, and effectively. Most importantly, guided by LGBTQI activists on our Grant-making Advisory Panel, in five years we have channelled £1.7 million in new funding to over 40 remarkable LGBTQI organisations across six continents, with a focus on the Global South and East.

For those keen to dive deeper in the impacts of this work, I strongly encourage you to explore as a companion to this document, ‘Heart to Heart’, GiveOut’s Annual Impact Report for 2022/2023 which is now available at giveout.org/impact.

Thank you so much to everyone who has joined GiveOut in helping to ensure that LGBTQI organisations around the world have more of the resources they need to defend our communities, tackle inequalities, and campaign for lasting change.

For those of you who may be finding out about GiveOut, please do read on and know that you are warmly asked to join in our work and support the global movement for LGBTQI human rights.

Elliot Vaughn MBE Chair

October 2023

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GIVEOUT

EXECUTIVE DIRECTOR 'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

When Russia launched a full-scale invasion of Ukraine in February 2022, local LGBTQI organisations became humanitarian relief centres overnight, providing shelter, food, access to medicine, as well as relocation and evacuation assistance for displaced members of the LGBTQI community.

In response to the crisis, GiveOut activated our LGBTQI Emergency Fund to support a global appeal by Outright International. Our community and allies in the UK donated almost £100,000 to support LGBTQI people most at risk in Ukraine and those forced to flee.

Ukrainian LGBTQI activist Lenny Emson told GiveOut how they felt about this response: “I was amazed at how many people reached out to us to help, from hugs to their homes. It was heart to heart, community to community.”

In 2022, GiveOut brought together our community and allies to support our grant partners to undertake vital work and win progress across five key pillars of activism: using the law and courts to advance equality; building supportive communities and safe spaces; providing the evidence to advocate for change; promoting public understanding and acceptance; and delivering emergency support in times of crisis.

Thank you to our courageous grant partners around the world, for being there for our communities, and for allowing us to be there for you.

To our supporters, thank you for your dedication in helping to enable vital LGBTQI activism worldwide.

It is easy for individuals and business allies to support LGBTQI human rights activism worldwide through GiveOut. As a UK registered charity, donors can give tax efficiently and GiveOut can claim Gift Aid on qualifying individual donations. Email us at info@giveout.org or donate online at https://giveout.org/donate-giveout.

We hope you enjoy reading about our fifth year of operations and invite you to join us!

Rupert Abbott Executive Director October 2023

Page 3

GIVEOUT

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report and financial statements of GiveOut ("the charity") for the year ended 31 December 2022.

Objectives and activities

a.�Policies and objectives

The object of the Charity is to promote equality and diversity for the public benefit around the world by the elimination of discrimination against people on the basis of their sexual orientation or gender identity and to do this in particular, but not exclusively, by making grants.

GiveOut carries out this object by implementing activities in three main areas: (i) grant-making to eliminate discrimination against people on the basis of their sexual orientation or gender identity; (ii) growing giving, through advocating for more resourcing for the global LGBTQI human rights movement and enabling giving by our LGBTQI community and allies to fund grants; (iii) ensuring GiveOut is a strong, sustainable and wellgoverned organisation. In setting the aims and activities under these three areas, the Trustees have due regard to the Charity Commission's guidance on public benefit.

b.�Grant making

Around the world, LGBTQI people face serious human rights abuses for being themselves, including discrimination, torture and even killings. Through their organisations, courageous activists are doing vital work to protect and improve the lives of LGBTQI people. But these LGBTQI organisations are woefully underfunded, particularly in the Global South and East.

GiveOut works to address this. We are an international LGBTQI community foundation, providing a platform for our community and allies to give in one place to support LGBTQI human rights activism worldwide. Supporters donate to GiveOut and the Charity distributes these funds as grants to LGBTQI organisations around the world, with a focus on providing long term flexible core support.

Through a rigorous process of consultation, due diligence, and vetting, GiveOut identifies a portfolio of grant beneficiaries. The Trustees and Executive Director have due regard to the Charity Commission Compliance Toolkit, ‘Protecting Charities from Harm’ and particularly to ‘Chapter 2: Due diligence, monitoring and verifying the end use of charitable funds.’ Additional policies covering grant-making, due diligence and financial controls are applied by the Executive Director and Treasurer, and are regularly reviewed and referenced in Trustee meetings.

GiveOut decides on grants and disburses them in the calendar year following the year in which the money was raised from donors. This enables the Executive Director, informed by the Grant-making Officer and GrantMaking Advisory Panel, to propose to the Trustees a portfolio of grants in the knowledge of how much money is available for grants in the period in question. Thus, the 2022/2023 grant portfolio was funded by donations recognised in 2022 and the portfolio was decided upon by trustees in early 2023, after which the portfolio was announced with disbursement following thereafter. GiveOut makes in-year grants in certain circumstances only, where there is a compelling case or by special arrangement with some funds. In 2022, such grants included those made with funds raised through the LGBTQI Ukraine Appeal.

During the 2022 reporting period, GiveOut thus completed the disbursement of its 2021/2022 portfolio of grants, which totalled £518,000, and started the process of identifying its 2022/2023 portfolio of grants, announced in 2023, totalling £521,000 to over 37 LGBTQI organisations and grassroots initiatives across six continents. For more information on GiveOut's grant partners and to view the Charity’s annual impact report, visit giveout.org/ impact.

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

c. Growing giving

GiveOut offers donors the unique opportunity to donate in one place and have impact across the LGBTQI human rights movement globally, with their donations supporting grants to a set of activist-led national and regional LGBTQI advocacy organisations that most donors would find it hard otherwise to identify or give to. The charity appeals particularly to donors who share GiveOut’s aim of having impact through long-term core support to the global LGBTQI movement, rather than mainly one-off reactive funding.

In 2022, GiveOut continued to work to grow giving by the LGBTQI community in the UK, to raise the funds for the above grants and to help cover the Charity’s operational costs, engaging mainly LGBTQI individuals as well as corporate allies with a strong track record on LGBTQI inclusion. In implementing its fundraising strategy, the Trustees and Executive Director had due regard to the charity Commission’s Compliance Toolkit, ‘Protecting Charities from Harm’, particularly Chapter 6, ‘Know your donor’.

GiveOut obtained support from the Charity’s Trustees and their networks as well as corporates and foundations. The charity also worked with a small number of fund sponsors to develop a set of special focus funds - philanthropic advised funds and thematic funds – and established a partner fund with Outright International. In total, the charity had income of £852,571 in its fifth year of operation.

The Trustees and related parties provided support of £128,039 before Gift Aid in the period.

GiveOut was also able to secure generous financial and in-kind support from many businesses. The Trustees are grateful to our founding corporate sponsor Boston Consulting Group (BCG) and its Pride network for their valuable financial and in-kind support to GiveOut. The Trustees are thankful to all those businesses that provided support in 2022, including Levi Strauss & Co, Macquarie, Gay Times, Global Butterflies, Goldman Sachs, Latham & Watkins, McGill & Partners, Travers Smith, Spotify, Allen & Overy, Simmons & Simmons, Guidewire, ev.energy, Emerald Life, Bryan Cave Leighton Paisner, Burberry, Kennedys, and BNP Paribas.

GiveOut was grateful to receive support for operational costs from charitable foundations, including The Baring Foundation and Wellspring Philanthropic Fund, amounting to a combined sum of £73,965 in the reporting period.

During the period, the Charity also continued to develop philanthropist advised funds, generously sponsored by individuals and businesses who also lend their profile to encourage others to give: The Antonia and Andrea Belcher Trans Fund, The Suki Sandhu LGBTQI Asia Fund, The Emerald 50 Fund sponsored by Steve Wardlaw and his company Emerald Life, Amplifund with GAY TIMES, The Steinberg-Graff Fund for International LGBTQI Rights, and The Global Butterflies Fund. Combined these named funds were recognised as raising £118,844 in 2022, as follows:

GiveOut also continued to develop thematic funds, to enable donors to focus their support to the LGBTQI movement. Combined these special focus funds were recognised as raising £146,361 in 2022, as follows:

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

In the period, GiveOut developed the partner fund concept, to enable the UK-based supporters of international LGBTQI organisations to restrict their donations and give tax efficiently to support these organisations. GiveOut established the first partner fund with Outright International, which was recognised as raising £52,962 in 2022.

Developing a new hybrid operating model following the COVID-19 pandemic and an end to legal restrictions, the Charity kept supporters updated by sharing details of the impact achieved by grant recipients, holding online and in-person activist focused briefings and events, providing regular updates, maintaining an engaging website and social media channels, producing regular SoundOut podcast episodes, and reporting to them on the impact of their donations.

d. Ensuring a strong, sustainable and well-governed organisation

The Executive Director and Trustees of GiveOut are working to build a charitable organisation that can sustain itself and be effective over many years to come in pursuit of its charitable object. To this end they also recognise the importance of good governance in carrying out the activities of fundraising, grant-making, and in operating as a fair employer and properly accountable charitable organisation.

GiveOut moved into a ‘scale and sustain’ phase during 2022, and a number of steps were taken in this regard.

GiveOut strengthened its governance by recruiting additional Trustees, bringing new perspectives and expertise, and strengthening the diversity profile of the Board of Trustees. The Treasurer supported the Executive Director in maintaining the management accounts and reporting to the Trustees. At the beginning of 2022, the Trustees and Executive Director also held their fourth annual retreat, as a point of reflection on progress to date and planning for the coming year - this was held in person, which had not been possible in the previous year due to the COVID-19 pandemic and ongoing restrictions.

The Charity developed a new hybrid operating model, as the COVID-19 pandemic and restrictions eased, with the staff team moving into a new shared office space in central London and combining working from home with office days. Key meetings moved back to being in-person and most events were hybrid, mixing in-person and virtual elements.

GiveOut prepared and filed its fourth annual report to the Charity Commission and received a full, clean audit of its accounts. The Trustees continued to proceed with a full audit as an externally visible sign of its commitment to good governance.

The Charity recruited a new Grant-making Officer, with the staff team remaining at five, and engaged a philanthropy expert on a consultancy basis to provide support on the work to grow giving.

The Charity continued to report on the impact of its portfolio of grants and in support of that maintained an engaging website and a content-led approach to building its social media profile; noting that the approach to reporting impact will be further developed in due course as the impact reports of initial grant portfolios are received. To view the Charity’s annual impact reports, visit https://giveout.org/impact.

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

a. Review of activities

As the COVID-19 pandemic and restrictions eased, the charity celebrated a number of milestones and achievements in fulfilling its charitable object:

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

UK. The lectures are given by LGBTQI individuals from professions other than academia who have reached a position of outstanding achievement in their field.

In the period, the combined efforts of our courageous partners and dedicated supporters spelled incredible successes for LGBTQI people worldwide. GiveOut’s grant partners undertook vital work and won progress across five key pillars of activism:

  1. Using the law and courts to advance equality: Our grant partners have used the law and courts to overturn draconian anti-trans laws in India, win the right to associate through the Supreme Courts in Kenya and Eswatini, expand protections for LGBTQI victims of sexual assault in Tonga, provide legal aid to LGBTQI communities affected by police raids in Malaysia, and secure a commitment from the Sri Lankan government to decriminalise same sex relations.

  2. Building supportive communities and safe spaces: Our grant partners have brought together LGBTQI people and their families in Lebanon, re-built an LGBTQI community centre destroyed by fire in Jamaica, supported LGBTQI people in Armenia, provided safety and solidarity to LGBTQI people at risk of violence in Iraq, and organised movement-building convenings in Sub-Saharan Africa and Asia.

  3. Providing the evidence to advocate for change: Our grant partners have undertaken world-first research into conversion practices in South Africa, measured public attitudes regarding LGBTQI issues in the Western Balkans, examined the impacts of climate change on LGBTQI people across Asia, documented human rights abuses against trans communities in Jamaica, and analysed anti-rights movements in East Africa.

  4. Promoting public understanding and acceptance: Our grant partners have run a campaign to gain public support for marriage equality in Southeast Asia, built understanding towards LGBTQI refugees in South Africa, broken down stigma and challenged harmful stereotypes against LGBTQI Muslims in South Asia, trained journalists to create more positive media representation for the LGBTQI community in Nigeria, and raised awareness to end the forced sterilisation of trans people in the Czech Republic.

  5. Delivering emergency support in times of crisis: We were there when our grant partners needed us most, including in Tonga where ash and debris was able to be cleared from LGBTQI people’s homes in the aftermath of a volcanic eruption and tsunami; and in Ukraine, where humanitarian relief was delivered to and through the local LGBTQI community following Russia’s full-scale invasion.

The above represent some achievements by GiveOut partners during the period of this annual review. Our partners have shared that our grants would have contributed in some way to the above achievements. For further information on impacts of our work please read the latest impact report available on our website at www.giveout.org.”

Financial review

a. Going concern

Following a joint planning and budgeting process, in the collective judgement of the Trustees the Charity has adequate resources to continue operating for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Reserves policy

The Trustees aim to maintain free reserves at a level which equates to approximately three months of unrestricted charitable expenditure. This reserves policy is set out in the Charity's finance policy. The balance held as unrestricted funds at 31 December 2022 was £125,677 (2021: £152,009) of which £123,258 (2021: £148,847) are regarded as free reserves. Restricted reserves totalled £433,533 at the balance sheet date (2021: £388,048) and are held for specific purposes as disclosed in note 13 to the financial statements.

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

c. Financial review and fundraising

In 2022 GiveOut’s work was entirely reliant on income from its fundraising. In the period, all income came from individual donations, associated Gift Aid claims, corporate donations, and grants from foundations. In total, the Charity's income was £852,571 in 2022 (£733,891 in 2021).

GiveOut’s income is used for operational costs (including fundraising) and grant-making in pursuit of the charity’s object. In 2022, all operational costs were covered by donations from a combination of sources including Trustees, corporate donations, foundation support and Gift Aid. This meant that, in effect, all individual donations apart from those by Trustees went to support grants to LGBTQI groups around the world.

At the end of the period, the Trustees adopted a new growth strategy, to guide the Charity’s income diversification and generation in the five-year period 2023-2027. The growth strategy envisions GiveOut increasing its income year-on-year, with £2.4 million raised in 2027. This would enable the Charity to provide £1.7m in grants to LGBTQI organisations worldwide from fund raised in 2027.

To enable this growth, the Trustees have decided to invest more income in operational costs, to further develop the Charity’s capacity to grow giving. The Charity will seek additional support for these operational costs from a coalition of core individual, corporate and trust and foundation supporters, with the aim that no more than 20 per cent of other donations outside this core investment are used for operational costs, with the balancing 80 per cent supporting grants to LGBTQI groups.

Structure, governance and management

a. Constitution, structure and governance

GiveOut is a charitable incorporated organisation, registered charity number 1176434. The Charity was registered at the end of 2017 and launched publicly at the beginning of 2018. The founding Trustees incubated the organisation while working at BCG, which went on to be GiveOut’s founding corporate donor.

Since the launch of GiveOut additions have been made to the Board of Trustees to foster good governance, specialist skills and greater diversity. At the time of writing, the Board comprises a group of 10 Trustees; all of whom identify as LGBTQI; 5 of whom identify as men and 5 as women; 7 of whom identify as white and 3 of whom identify as a person of colour.

Between them, the Trustees bring the experience, expertise and perspectives required to oversee and develop the Charity:

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

The Trustees wish to thank departing Trustees in the past year, Iain Anderson and Michaela Muscat, for their hugely valuable board service.

New Trustees are appointed by the existing Trustees for a term of three years after which they may put themselves forward for re-appointment. The constitution provides for a minimum of three Trustees up to a maximum of twelve Trustees.

Before appointment, prospective Trustees sign a Trustee Eligibility Declaration form, to confirm their eligibility to serve as a Trustee. The induction process for newly appointed Trustees includes an initial meeting with the Chair followed by a series of short meetings with the other Trustees and the Executive Director on the work of the Charity. On appointment, the Chair sends a copy of the Constitution, the Charity’s strategy, minutes of recent Trustees' meetings, the management accounts as well as newsletters and other information on the charity's recent activities. New Trustees are also provided with the Charity Commission's guidance 'The Essential Trustee: What You Need to Know.'

All of the Trustees give their time freely and no Trustee remuneration was paid in the period. Trustees are required to disclose all relevant interests and register them. The Charity's policies require the Trustees to withdraw from decisions where a conflict of interest arises. For those Trustees who are professional LGBTQI activists and based in the Global South, GiveOut offers to reimburse the cost of at least one trip per year to London to participate in person in a meeting of the Board of Trustees – and aims to reduce the cost of such trips, for example by flexing the date of such meetings, or by coordinating with other London based groups who may have an interest in sharing the costs of such a trip.

At their quarterly meetings, the Trustees agree the broad strategy and oversee the Charity's activities. At the meetings, the Trustees also consider the financial situation of the Charity, reviewing management accounts, and risk management, reviewing a risk register and developing strategies to mitigate against those risks.

The Trustees have established three working groups: (i) Risk and Operations; (ii) Fundraising; and (iii) Grantmaking. These working groups have no governance or decision-making powers but rather are for the Trustees and Executive Director to meet between Trustees' meetings to discuss and plan the Charity's activities.

The Trustees have established a Grant-Making Advisory Panel made up of external experts from across the LGBTQI movement globally. While not part of formal governance, this panel provides important advisory input to GiveOut on the grants the Charity is providing to LGBTQI groups around the world.

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

The day-to-day running of the Charity including the operational work to build the Charity, grow giving, and administer grants is delegated to the Executive Director, Rupert Abbott. The remuneration of the Executive Director is set by the Trustees and reviewed annually based on market conditions, with a cost-of-living adjustment to the remuneration also made each year.

Rupert Abbott, GiveOut’s Executive Director, is a (non-practising) Solicitor of the Senior Courts of England and Wales with over 15 years of experience in human rights, social impact and philanthropy, having held management roles with the Human Rights House Foundation, Amnesty International, and the United Nations. Outside GiveOut, he is a trustee of the Association of Charitable Foundations (ACF), the membership body for UK foundations and grant-making charities, serves on the Supervisory Board of Climate Counsel, and advises the Future Forum think tank in Cambodia.

GiveOut is a member of ACF and ARIADNE, a European peer-to-peer network of more than 600 funders and philanthropists who support social change and human rights. GiveOut's Executive Director Rupert Abbott is an individual member of the Association of Chief Executives of Voluntary Organisations (ACEVO). GiveOut is also a member of Consortium, a body representing the interests of LGBTQI civil society groups in the UK.

b.�Risk management

The Trustees have developed a risk register which is updated regularly to consider the major risks to which the Charity is exposed and the mitigation strategies to be put in place to manage and address those risks.

The main risks facing the Charity are the potential for operational process failures, a governance or oversight failure in grant-making, and the risk of backlash against grant partners operating in hostile environments����� ������������������������������������������������������� During the year, the war in Ukraine and economic fallout created uncertainty.

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Plans for future periods

GiveOut's plans for the future, in the three main areas of the Charity's work, include:

1. Grant making

2. Growing giving

3.�Building a sustainable and strong organisation

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GIVEOUT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Goodman Jones LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Elliot Vaughn Chair

Date: 27-10-23

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GIVEOUT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GIVEOUT

Opinion

We have audited the financial statements of GiveOut (the 'charity') for the period ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards 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 been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Trustees' 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 charity'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 Trustees with respect to going concern are described in the relevant sections of this report.

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GIVEOUT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GIVEOUT (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

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GIVEOUT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GIVEOUT (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 Auditors' 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.

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 sector, we identified that the principal risks of non-compliance with laws and regulations related to sector regulations and unethical and prohibited business practices, 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 Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried out. These procedures included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Auditors' Report.

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GIVEOUT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GIVEOUT (CONTINUED)

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Goodman Jones LLP

Chartered Accountants 29/30 Fitzroy Square London W1T 6LQ

Date:27-10-23

Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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GIVEOUT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
4
Total income
Expenditure on:
Raising funds
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
338,027
338,027
90,385
273,974
364,359
(26,332)
152,009
(26,332)
125,677		 Restricted
funds
2022
£
514,544
514,544
-
442,727
442,727
71,817
236,039
71,817
307,856		 Total
funds
2022
£
852,571
852,571
90,385
716,701
807,086
45,485
388,048
45,485
433,533		 Total
funds
2021
£
733,891
733,891
72,008
540,095
612,103
121,788
266,260
121,788
388,048

The Statement of Financial Activities includes all gains and losses recognised in the period.

The notes on pages 22 to 35 form part of these financial statements.

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GIVEOUT

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
Cash at bank and in hand
11
Creditors: amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
Unrestricted funds
13
13
Total funds		 116,302
466,344
582,646
(151,532)		 2022
£
2,419
2,419
431,114
433,533
433,533
307,856
125,677
433,533		 58,245
360,921
419,166
(34,280)		 2021
£
3,162
3,162
384,886
388,048
388,048
236,039
152,009
388,048

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Elliot Vaughn Chair

Date: 27-10-23

The notes on pages 22 to 35 form part of these financial statements.

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GIVEOUT

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022		 2021
£
189,560
(1,093)
(1,093)
188,467
172,454
360,921
Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
The notes on pages 22 to 35 form part of these financial statements		 2022
£
105,423
-
-
105,423
360,921
466,344

Page 21

GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. General information

GiveOut is a Charitable Incorporated Organisation registered in England and Wales. It is an international LGBTQI community foundation enabling individuals and businesses to give in one place to support LGBTQI human rights activism worldwide.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) (effective 1 January 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

GiveOut meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements have been prepared in Sterling, the functional and presentational currency of the Charity, and rounded to the nearest £.

2.2 Going concern

The Charity is reliant upon donation income to fund its grant-making activities. During this period of operation, the Charity's activities have been funded partly by donations from Trustees. Reliance on funding from Trustees is expected to reduce in future periods as the Charity becomes more established and the Charity actively seeks to reduce reliance on donations from Trustees.

At the beginning of the year, the Coronavirus pandemic continued to have an impact around the world but this has reduced as the year prgoressed. Given the nature of its activities, the Charity has not been significantly affected by the pandemic and no use of Government financial support schemes was made.

Having reviewed the future plans of the Charity, including expected income and expenditure, the Trustees have not identified any material uncertainty regarding going concern and consequently, the Trustees believe that the financial statements are appropriately prepared on the going concern basis.

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Costs of generating funds are costs incurred in attracting voluntary income.

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.5 Expenditure (continued)

Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.6 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 institution with whom the funds are deposited.

2.7 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

20% straight line

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and 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.

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.12 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.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the period.

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Trustees have not identified any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. Income from donations and legacies

Donations
Total 2021		 Unrestricted
funds
2022
£
338,027
309,804		 Restricted
funds
2022
£
514,544
424,087		 Total
funds
2022
£
852,571
733,891		 Total
funds
2021
£
733,891

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. Expenditure on raising funds

Costs of raising voluntary income

Fundraising expenditure
Wages and salaries
Wages and salaries - NI		 Unrestricted
funds
2022
£
16,480
68,175
5,730
90,385		 Total
funds
2022
£
16,480
68,175
5,730
90,385		 Total
funds
2021
£
3,362
63,905
4,741
72,008

6. Analysis of expenditure by activities

Grant giving
Total 2021		 Activities
undertaken
directly
2022
£
16,522
737		 Grant
funding of
activities
2022
£
499,807
407,700		 Support
costs
2022
£
200,372
131,658		 Total
funds
2022
£
716,701
540,095		 Total
funds
2021
£
540,095

For an explanation of the proportions of costs in the current year and prior year, refer to Trustees' Report Financial Review section on page 11.

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Direct grant making costs
Travel expenses
Analysis of support costs
Staff costs
Depreciation
Rent and office expenses
Staff training
Office supplies and equipment
Computer costs
Subscriptions
Bank charges
Legal and professional fees
Consulting
Governance costs		 Grant giving
2022
£
1,847
14,675
16,522
Grant giving
2022
£
126,524
743
11,808
5,258
2,046
5,790
1,897
4,657
1,244
30,351
10,054
200,372		 Total
funds
2022
£
1,847
14,675
16,522
Total
funds
2022
£
126,524
743
11,808
5,258
2,046
5,790
1,897
4,657
1,244
30,351
10,054
200,372		 Total
funds
2021
£
-
737
737
Total
funds
2021
£
90,313
870
4,050
6,876
1,777
3,551
2,318
5,128
1,270
7,530
7,975
131,658

Included within governance costs is the auditor's remuneration of £8,000 (2021 - £7,200).

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Analysis of grants

Grant giving
Total 2021		 Grants to
Institutions
2022
£
499,807
407,700		 Total
funds
2022
£
499,807
407,700		 Total
funds
2021
£
407,700

During the year, the Charity made various grants to organisations that carry out activities to improve the lives of LGBTQI individuals around the world. More details on grant recipients can be found in note 13.

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2022
£
178,106
14,216
8,107
200,429		 2021
£
143,326
10,473
5,160
158,959

The average number of persons employed by the Charity during the period was as follows:

2022 2021
No. No.
Employees 5 4

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
No. No.
In the band £60,001 - £70,000 - 1
In the band £70,001 - £80,000 1 -

During the period, total remuneration and benefits, including employer's national insurance and pension contributions, incurred in respect of key management personnel was £82,750 (2021: £72,160)

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the period ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .

10. Tangible fixed assets

Cost or valuation
At 1 January 2022
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the period
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
11.
Debtors
Due within one year
Other debtors
Prepayments
Grants and donations receivable		 2022
£
-
3,744
112,558
116,302		 Computer
equipment
£
5,170
5,170
2,008
743
2,751
2,419
3,162
2021
£
15,975
1,100
41,170
58,245

Grant and donation income that has not been received is recognised where the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. Creditors: Amounts falling due within one year

Grants payable
Other creditors
Accruals and deferred income
Trade creditors		 2022
£
129,185
6,999
8,000
7,348
151,532		 2021
£
15,000
7,083
6,200
5,997
34,280

Grants payable are recognised where there is a legal or constructive obligation to make the grants, usually when the recipients have been informed and due diligience on the recipients carried out.

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. Statement of funds

Statement of funds - current period

Unrestricted funds
General Funds - all funds
Restricted funds
CSBR
Suki Sandu LGBTQI Asia Fund
Emerald 50 Fund
Amplifund
Appeal : Outright Ukraine
OutRight Action International
Tonga Appeal
Antonia & Andrea Belcher Trans Fund
Climate Fund
Equality Without Borders
Women's Fund
Legal Fund
World Cup Appeal
Steinberg Graff
Giveout Operations
Emergency Fund
Afghanistan LGBTQ+ Appeal
City for LGBT+
Global Butterflies Fund
Total funds		 Balance at 1
January
2022
£
152,009
-
21,367
7,404
15,281
-
47,965
-
19,276
9,651
27,156
9,275
5,000
-
-
3,750
3,993
32,669
21,747
11,505
236,039
388,048		 Income
£
338,027
5,000
11,304
-
16,451
95,819
52,962
4,665
30,865
30,543
139,375
508
19,491
3,447
44,399
-
3,875
-
40,015
15,825
514,544
852,571		 Expenditure
£
(364,359)
-
(20,000)
(7,403)
(15,000)
(80,821)
(48,145)
(4,665)
(26,873)
(25,000)
(127,561)
(9,782)
(10,000)
(20)
(4,873)
-
(239)
(32,669)
(22,962)
(6,714)
(442,727)
(807,086)		 Balance at
31
December
2022
£
125,677
5,000
12,671
1
16,732
14,998
52,782
-
23,268
15,194
38,970
1
14,491
3,427
39,526
3,750
7,629
-
38,800
20,616
307,856
433,533

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. Statement of funds (continued)

Statement of funds - prior period

Unrestricted funds
General Funds - all funds
Restricted funds
Suki Sandu LGBTQI Asia
Fund
Emerald 50 Fund
Amplifund
OutRight Action International
Antonia & Andrea Belcher
Trans Fund
Climate Fund
Equality Without Borders
Women's Fund
Legal Fund
World Cup Appeal
Steinberg Graff
Giveout Operations
Emergency Fund
Covid-19 Fund
Afghanistan LGBTQ+ Appeal
City for LGBT+
Global Butterflies Fund
Total funds		 Balance at
1 January
2021
£
112,316
30,076
13,459
17,890
12,500
29,697
15,750
-
13,231
5,000
858
858
-
3,640
10,985
-
-
-
153,944
266,260		 Income
£
309,804
21,367
3,945
15,391
47,965
19,579
8,901
142,856
8,544
5,000
-
-
3,750
4,368
-
102,669
28,247
11,505
424,087
733,891		 Expenditure
£
(271,827)
(30,076)
(10,000)
(18,000)
(12,500)
(30,000)
(15,000)
(115,700)
(12,500)
(5,000)
-
-
-
(15,000)
-
(70,000)
(6,500)
-
(340,276)
(612,103)		 Transfers
in/out
£
1,716
-
-
-
-
-
-
-
-
-
(858)
(858)
-
10,985
(10,985)
-
-
-
(1,716)
-		 Balance at
31
December
2021
£
152,009
21,367
7,404
15,281
47,965
19,276
9,651
27,156
9,275
5,000
-
-
3,750
3,993
-
32,669
21,747
11,505
236,039
388,048

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. Statement of funds (continued)

Philanthropist advised funds

Antonia & Andrea Belcher Trans Fund - under the fund, grants will be provided to organisations working across the world to improve the lives of trans people.

Suki Sandhu LGBTQI Asia Fund - under the fund, grants will be provided to organisations working across Asia to improve the lives of LGBTQI people.

Emerald 50 Fund - under the fund, grants will be provided to organisations working across Southern Africa to improve the lives of LGBTQI people.

Amplifund - under the fund, grants will be provided to support LGBTQI organisations in media activism and campaigning.

Global Butterflies Fund - under the fund, grants will support trans human rights.

Thematic funds

Covid-19 Fund - under the fund, grants will be provided to support LGBTQI organisations responding to the COVID-19 pandemic.

Climate Fund - under the fund, grants will be provided to support LGBTQI organisations working around the world to help tackle the climate crisis.

Women's Fund - under the fund, grants will be provided to support organisations working to advance the human rights of lesbian, bisexual, trans, and queer women around the world.

Legal Fund - under the fund, grants will be provided to support LGBTQI organisations around the world using the law and courts to advance equality.

Emergency Fund - under the fund, grants will be provided to support LGBTQI organisations responding to crises.

Partner funds

OutRight Action International

Equality Without Borders - donations restricted to supporting specific LGBTQI organisations

Other restricted funds SAATHII TCEN

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
2,419
145,605
(22,347)
125,677		 Restricted
funds
2022
£
-
437,041
(129,185)
307,856		 Total
funds
2022
£
2,419
582,646
(151,532)
433,533

Enter text here - user input

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

14. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Unrestricted
funds
2021
£
Restricted
funds
2021
£
Tangible fixed assets
Current assets
Creditors due within one year
3,162
168,127
(19,280)
-
251,039
(15,000)
152,009
236,039
Total
15.
Reconciliation of net movement in funds to net cash flow from operating activities
2022
£
Net income for the year (as per Statement of Financial Activities)
45,485
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase in creditors
743
(58,057)
117,252
Net cash provided by operating activities
105,423
16.
Analysis of cash and cash equivalents
2022
£
466,344
Cash in hand
Total cash and cash equivalents
466,344		 Total
funds
2021
£
3,162
419,166
(34,280)
388,048
2021
£
121,788
870
47,178
19,724
189,560
2021
£
360,921
360,921

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GIVEOUT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Analysis of changes in net debt

Cash at bank and in hand At 1
January
2022
£
360,921
360,921		 Cash flows
£
105,423
105,423		 At 31
December
2022
£
466,344
466,344

18. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £8,107 (2021: £5,160). Contributions totalling £2,088 (2021: £1,379) were payable to the fund at the balance sheet date and are included in creditors.

19. Related party transactions

During the period, Trustees, key management personnel and related parties donated £128,039 (2021: £151,862) before Gift Aid in aggregate to the Charity, no restrictions were attached to these grants other than relating to certain funds.

Page 35