REGISTERED COMPANY NUMBER: 09197133 (England and Wales) REGISTERED CHARITY NUMBER: 1177233 

REPORT OF THE TRUSTEES AND 

UNAUDITED FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 31ST AUGUST 2022 

FOR 

EQUALITY TIME LTD 



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## Contents 

|**Report of the trustees**|**3**|
|---|---|
|OBJECTIVES AND ACTIVITIES|3|
|FINANCIAL REVIEW|3|
|FUTURE PLANS|4|
|STRUCTURE, GOVERNANCE AND MANAGEMENT|4|
|REFERENCE AND ADMINISTRATIVE DETAILS|5|
|INDEPENDENT EXAMINER|6|
|**Independent Examiner’s Report**|**7**|
|**Statement of Financial Activities**|**8**|
|**Balance Sheet**|**9**|
|**Notes to the Financial Statements**|**10**|





## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## Report of the trustees 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2022. The trustees have adopted the provisions of 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 2015). 

## OBJECTIVES AND ACTIVITIES 

## **Objects** 

Our mission is to employ original critical thinking to solve problems of inclusion and equality through the use of technology and education. 

## **Significant activities** 

This year the charity has been pursuing stability after several financially hard years. Although we have been operating in our reserves, our work with both schools and prisons rose towards the end of the financial year and we predict steady growth from now on. 

## **Public benefit** 

The Trustees have considered the Charity Commission guidance regarding public benefit and are satisfied that the activities of the Charity, as described in the appended pages, satisfy the requirements. 

## FINANCIAL REVIEW 

## **Financial position** 

The charity has recognised income during the year of £43,035. After expenditure for the year of £44,780, the Charity showed a loss of £1,745. This brings us into our reserves and we are taking appropriate action to increase income including: contracting a grant-writer, and increasing our efforts to directly contact schools. 

## **Investment policy and objectives** 

The Trustees recognise the need to review on a regular basis the Charity's investments in accordance with its governing document and the need to build and maintain its reserves. 



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## **Reserves policy** 

As a direct consequence of its aims and the projects that it supports, eQuality Time should hold a reasonable amount of money in its accounts to cover future expenses. eQuality Time commits to hold in reserve enough money to cover any committed outgoings including the minimum salary costs associated with any employees and all liabilities. 

At its meeting in March 2018 the Board of trustees set a target of 50% (six months' worth) of annual expenditure as a reasonable level of reserves. The level of reserves that is required to be held, and the reserves policy will be reviewed yearly at, or in advance of the AGM. 

## FUTURE PLANS 

Recovery from the pandemic and re-establishing links with schools will be our main priority for the coming year. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## **Governing document** 

The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **Recruitment and appointment of new trustees** 

New Trustees are appointed following discussion and agreement among the existing Trustees, taking account of their skills and experience matched with the needs of the Board at any given time. 

In order to assist Trustee induction, any new trustees are given a full background to the Charity, copies of the accounts and review of its activities, together with Charity Commission guidance on the role and responsibilities of being a Trustee. 

## **Risk management** 

The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. 

Risks are standing agenda item and are reviewed and addressed at Trustee Board Meetings. 



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## REFERENCE AND ADMINISTRATIVE DETAILS 

## **Registered Company number** 

09197133 (England and Wales) 

## **Registered Charity number** 

1177233 

## **Registered office** 

68 Truro Gardens Luton, LU3 2AP 

## **Trustees** 

- T J Reddington 

- F Baker 

- C Walsh (Chair) 

- S Taffler 

- Y Skipper 

- R Robinson 

## **Company Secretary** 

J Reddington 



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## INDEPENDENT EXAMINER 

Martin Cordy 6 Hill View Sidmouth Devon EX10 9DF 

## **Bankers** 

Unity Trust Customer Services Centre Nine Brindleyplace Birmingham LU3 2AP 

Approved by order of the board of trustees on 

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

and signed on its behalf by: 

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



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## Independent Examiner’s Report 

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31.08.2022 

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- the accounts did not accord with the accounting records; or 

• the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 



FOR THE YEAR ENDED 31ST AUGUST 2022 

## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

## Statement of Financial Activities 

||Unrestricted<br>Funds|Restricted<br>Income<br>Funds|Endowment<br>Funds|Total for y/e<br>August 2022|Total for y/e<br>August 2021|
|---|---|---|---|---|---|
|**Income**||||||
|Donations and Legacies||||||
|Charitable activities|£43,035|||£43,035|£4,070|
|Other trading activities||||||
|Investments||||||
|Other(UK Government Job<br>Retention Scheme)|£0|||£0|£16,947|
|Total|£43,035|||£43,035|£21,016|
|||||||
|**Expenditure**||||||
|Charitable activities|£44,780|||£44,780|£32,884|
|Other||||||
|Total|£44,780|||£44,780|£32,884|
|||||||
|Net income/(expenditure)<br>before investment<br>gains/(losses)|£(1,745)|||£(1,745)|-£11,868|
|Net gains/(losses) on<br>investments||||||
|Net income/(expenditure)|£(1,745)|||£(1,745)|-£11,868|
|||||||
|Net movement in funds||||||
|||||||
|Total funds brought forward|£7,789|||£7,789|£19,657|
|Total funds carried forward|£6,044|||£6,044|£7,789|





## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## Balance Sheet 

||Unrestricted<br>Funds|Restricted<br>Income<br>Funds|Endowment<br>Funds|Total|Total for<br>y/e 2021|
|---|---|---|---|---|---|
|Cash at Bank and in hand|£13,792|||£13,792|£19,937|
|Debtors|£9,457|||£9,457|£11,683|
|Total Current Assets|£23,248|||£23,248|£31,620|
|Creditors: amounts falling due<br>within one year|£17,205|||£17,205|£23,831|
|Net current assets/(liabilities)|£6,044|||£6,044|£7,789|
|Total assets less current liabilities|£6,044|||£6,044|£7,789|
|Creditors: amounts falling after<br>one year||||||
|Total net assets or liabilities|£6,044|||£6,044|£7,789|
|Net assets|£6,044|||£6,044|£7,789|
|Unrestricted Funds|£6,044|||£6,044|£7,789|
|Total Funds|£6,044|||£6,044|£7,789|



The charitable company is entitled to exemption from audit under Section 477 of the year ended 31st August 2022. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2022 in accordance with Section 476 of the Companies Act 2006. 

## The trustees acknowledge their responsibilities for 

A. ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

B. preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 



REPORT OF THE TRUSTEES 

## EQUALITY TIME LTD 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## Notes to the Financial Statements 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Support costs** 

All activity relates to one charitable cost heading and any costs relating to fundraising are immaterial. Support costs consist of governance as shown in the notes to the accounts and are allocated to the direct charitable costs heading. 



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## **2. Trustees’ remuneration and benefits** 

||2022|2021|2020|2019|
|---|---|---|---|---|
|Trustee<br>Expenses|£0|£38|£87|£0|
|Total|£0|£38|£87|£0|



There were no trustees' remuneration or other benefits for the year ended 31st August 2022. 

## **3. Staff costs** 

The mean average monthly number of employees during the year was as follows: 

||2022|2021|2020|2019|
|---|---|---|---|---|
|Administration|1|1|1|1|
|Total|1|1|1|1|



No employees received emoluments in excess of £60,000. 



## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## **4. Comparatives For The Statement Of Financial Activities** 

||Total August<br>2022|Total August<br>2021|
|---|---|---|
|**Income**|||
|Donations and Legacies|||
|Charitable activities|£43,035|£4,070|
|Other trading activities|||
|Investments|||
|Other(UK Government Job<br>Retention Scheme)||£16,947|
|Total|£43,035|£21,016|
||||
|**Expenditure**|||
|Cost of Sales|£9,822|£1,980|
|Depreciation|£0||
|Accounting|£0||
|Insurance|£444|£444|
|Pension|£2,163|£1,629|
|Wages|£28,577|£26,568|
|Staff/Volunteer Expenses|£1,012|£105|
|Subscriptions|£2,763|£2,158|
|AGM expenses|£0|£0|
|Interest Payable|£0|£0|
|Total|£44,780|£32,884|
||||
|Net income/(expenditure) before<br>investment gains/(losses)|-£1,745|-£11,868|
|Net gains/(losses) on investments|||
||||
|Net income/(expenditure)|||





## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## **5. Debtors: Amounts falling due within one year** 

|Debtor|2022|2021|
|---|---|---|
|Trade Debtors|£9,457|£11,683|
|Total|£9,457|£11,683|



## **6. Creditors: Amounts falling due within one year** 

|Creditor|2022|2021|
|---|---|---|
|Trade Creditors|£1,715|£1,160|
|Tax|£350|£290|
|Social Security<br>and other taxes|£319|£204|
|Pension<br>Creditor||£100|
|Other creditors||£75|
|Accurals and<br>deferred<br>income|£14,820|£22,000|
|Accured<br>expenses|||
|Total|£17,204.55|£23,831|



## **7. Movement in funds** 

Net movement in funds, included in the above area as follows: 

||Incoming<br>resources|Resources<br>expended|Movement in<br>funds|
|---|---|---|---|
|**Unrestricted funds**||||
|Unrestricted fund|£43,035|£44,780|-£1,745|
|**Restricted funds**||||
|Restricted fund||||
|Total Funds|£43,035|£44,780|-£1,745|





## EQUALITY TIME LTD 

## REPORT OF THE TRUSTEES 

FOR THE YEAR ENDED 31ST AUGUST 2022 

## **8. Related Party Disclosures** 

There were no related party transactions for the year ended 31st August 2022 




## **Independent examiner's report on the accounts** 

## **Section A                        Independent Examiner’s Report** 

**Report to the trustees/** Charity Name **members of** EQUALITY TIME LTD **On accounts for the year** 31.08.2022 **Charity no** 1177233 **ended (if any) Set out on pages** 1 to 14 (remember  to include the page numbers of additional sheets) 

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31.08.2022 

**Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of  the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

**Independent** I have completed my examination.  I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- the accounts did not accord with the accounting records; or 

- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

**Signed:** M D Cordy **Date:** 26.03.2023 **Name:** Martin Cordy **Relevant professional** FCA, Institute of Chartered Accountants, England and Wales **qualification(s) or body (if any): Address:** 6 Hill View, Sidmouth, Devon, EX10 9DF 

1 

**Oct 2018** 

**IER** 



## **Section B                           Disclosure** 

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). 

**Give here brief details of any items that the** None **examiner wishes to disclose** . 

2 

**Oct 2018** 

**IER**