**REGISTERED COMPANY NUMBER: 10301475 (England and Wales) REGISTERED CHARITY NUMBER: 1179354**
**Report of the Trustees and**
**Unaudited Financial Statements**
**for the Year Ended 31 December 2022**
**for**
**The 5% Club Limited**
Wilson Howe Limited Chartered Accountants 212A Bocking Lane Greenhill Sheffield Yorkshire S8 7BP
**The 5% Club Limited**
## **Contents of the Financial Statements for the Year Ended 31 December 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|7|
|**Independent Examiner's Report**||8||
|**Statement of Financial Activities**||9||
|**Balance Sheet**|10|to|11|
|**Cash Flow Statement**||12||
|**Notes to the Cash Flow Statement**||13||
|**Notes to the Financial Statements**|14|to|19|
|**Detailed Statement of Financial Activities**||20||
**The 5% Club Limited**
## **Report of the Trustees**
## **for the Year Ended 31 December 2022**
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 31 December 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The 5% Club exists for the prevention or relief of poverty for the public benefit, of those in need by reason of lack of employable skills, in particular but not exclusively, among the young. It works to deliver these aims as a member organisation consisting of employer organisations, by such means as:
- Among employers, policymakers and the general public, raising awareness of and support for the benefits of providing "earn and learn"* training programmes to skill/upskill individuals such that they can achieve skilled long-term employment;
- Enabling and extending best practice of such programmes through a network of members' Human Resources professionals;
- Providing assistance, information and support to young people and their influencers to encourage and educate them to successfully find, apply for and complete "earn and learn" training programmes;
- Carrying out and publishing research into "earn and learn" training programmes with a view to increasing their availability, quality and uptake.
*"Earn and learn" training programmes means: the provision of formal accredited and monitored training for employees to acquire skills and/or qualifications whether as apprentices, graduate trainees or sponsored students within a programme of paid employment.
Page 1
**The 5% Club Limited**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities**
During 2022 The Club undertook a wide range of activity to promote its aims to make earn and learn opportunities accessible to all, working through our members to reach increasing numbers of take-ups by beneficiaries. Including:
- Regular updates on The Club website to reflect activities and initiatives of members, demonstrating the benefits of 'earn and learn' to an organisation.
- Continuing collaboration with the Department for Education (DfE) on their work targeting young people by developing and promoting the value of apprenticeships. DfE personnel were kept informed of work by The Club and its members, via meetings between The CEO and senior officials at the DfE.
- Active support for the DfE initiative, National Apprenticeship Week, and the Scottish Government, Scottish Apprenticeship Week, ensuring all members of The Club were aware of the programme/resources well in advance, plus PR and social media activity during the two separate weeks.
- Support and promotion of the DfE initiative the Apprenticeship Diversity Champions Network.
- Support of the All-Party Parliamentary Group on Apprenticeships and T-Levels and working with the Rt Hon Robert Halfon MP (a member of The 5% Club's Steering Group) initially in his capacity as Chair of the Education Select Committee and from October 2022 in his capacity as Minister of State (Minister for Skills, Apprenticeships and Higher Education).
- The Club also participated in the Intermediary Apprenticeships Network (IAN), an adjunct of the Apprenticeship Ambassador Network as run by the DfE with The CEO as the IAN's Steering Group Vice Chair.
## **Events:**
The Club organised a range of networking/best practice events during the year. Events evolved into a mix of online and in-person format. All recorded events were made available on The Club's website to watch on catch up.
Events included:
February - How Apprenticeships can diversify your workforce (in partnership with the OU and Amazing Apprenticeships) - online, broadcast during National Apprenticeship Week
February-June - Employer Audit Briefing Events - online
May - Joint Summer Reception with Investors in People - in person networking
June - Tapping into ambition: Rethinking how we INVEST with workforce talent, OU event which featured CEO Mark Cameron
July - The state of play in Emerging Talent: What is happening in the labour market; what do young people want from work and how can employers engage them? - in person event hosted by Grant Thornton
October - The impact of School Outreach: driving inclusion in your attraction strategy. Joint event with The School Outreach Company - online
October - Joint Reception with Investors in People - in person networking
November - Employer Audit Symposium - online
November - Awards, Celebration & Patron Reception - in person event at the House of Lords
Additionally CEO Mark Cameron facilitated a panel at the Future of Work in Construction Live event in May.
Additional member meetings were held as follows: (all in person)
- Steering Group - June
> - Steering Group - November - Advisory panel, - December
Page 2
**The 5% Club Limited**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **OBJECTIVES AND ACTIVITIES**
## **Membership**
Membership as at 31 December 2022 stood at 773 members.
CEO Mark Cameron introduced a quarterly patron catch up schedule to consolidate systematic engagement and relationship management of The Club's funders.
In September we welcomed new Patron Member Accuracy, the UK subsidiary of the global corporate strategic advisory and professional services company.
## **Earn and Learn Awards**
In November, The 5% Club further recognised its outstanding members by launching The 5% Club UK National Employer "Earn and Learn" Awards. These Awards identified 12 top performing companies across six award categories.
Sponsorship Agreements were created to support these awards with IiP, City & Guilds, OU, The School Outreach Company and the St Martins Group
Members who achieved The Club's enhanced Gold, Silver or Bronze accredited membership, were invited to a reception at the House of Lords and award winners were selected from these 129 members. Recognition was made in two categories for each Award, Large and SME members across the following six Awards.
The winners were:
The 5% Club UK National Employer "Earn and Learn" Awards: Quality - Sponsored by City & Guilds Winner, Large Employer: Tarmac Winner, SME: MCFT
The 5% Club UK National Employer "Earn and Learn" Awards: Growth - Sponsored by the St Martins Group Winner, Large Employer: QA Winner, SME: SRC UK
The 5% Club UK National Employer "Earn and Learn" Awards: Inclusion and Social Mobility - Sponsored by The School Outreach Company Winner, Large Employer: HS2 Winner, SME: chapmanbdsp
The 5% Club UK National Employer "Earn and Learn" Awards: Breadth - Sponsored by the Open University Winner, Large Employer: Bell Group
Winner, SME: Pacific Building
The 5% Club UK National Employer "Earn and Learn" Awards: Highest Percentage - Sponsored by Accuracy UK Winner, Large Employer: Aecom
Winner, SME: Highfield Professional Services
The 5% Club UK National Employer "Earn and Learn" Awards: Employer of The Year - Sponsored by Investors in People
Winner, Large Employer: PwC Winner, SME: Highfield Professional Services
These Awards also provided a platform to engage further with stakeholders and partners, converting them to sponsors with financial benefit for The Club.
Page 3
**The 5% Club Limited**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **OBJECTIVES AND ACTIVITIES**
## **Policy Activity**
In March The Club published the latest in its series of Expert Opinions - this time on the Kickstart scheme which closed to new starts on 31 March 2022.
There was a significant focus on the Apprenticeship Levy during 2022. Early in the year The 5% Club explored the operation of the Levy and the performance of the Department for Education's Funded Apprenticeship Programme through a series of Freedom of Information requests. In April CEO MArk Cameron asked the membership to respond to him with their feedback on the LEvy in preparation for a submission to the Chancellor of the Exchequer.
In September this work culminated in a comprehensive letter to then Chancellor Rt Hon Kwasi Kwarteng MP, setting out our seventeen recommendations that we would wish to see considered to reform and improve the utilisation of the Apprenticeship Levy.
## **Partnerships**
To strengthen The Club's reach and impact a series of partnerships were formally created during 2022 with the following organisations:
- Youth Employment UK - an organisation which tackles youth unemployment by championing young people, connecting communities and changing the employment landscape
- The Schools Outreach Company - a leading provider of school outreach services focused on promoting career opportunity, championing diversity, and driving social mobility; this is achieved by helping employers connect and engage effectively with schools through a national network of offices and career coaches reaching more than 100,000 students every year
- The Association of Apprenticeships - formed to provide support to apprentices, training providers and employers alike. Apprentices are supported directly through membership of the Apprentice Community (through "AoA Connect"), advice and guidance on their learning (via "AoA Learn") and through networking events, across the UK.
- The St Martin's Group - a limited membership organisation (of Training Providers, End-Point Assessment Organisations and a small number of large employers) created to support the UK economy by fostering a sustainable, quality-focused and employer-led apprenticeship and skills system
## **The 5% Club Employer Audit and Awarding of Gold, Silver and Bronze Membership**
Launched in 2021, The Club continued this accredited level of membership in 2022, with enhanced benefits and prestigious awards of Gold, Silver and Bronze membership. This enhanced level of membership relates to the level of achievement by members against their 5% aspiration in The Club's charter which they sign and then measure annually.
In its second year 129 members participated in and paid for this new service. One hundred and seven members met the Gold Standard which recognised those who have exceeded their aspiration to have 5% of their workforce in "earn and learn" schemes - Apprenticeships, Graduate Schemes, and eligible Sponsored Students. Fourteen members achieved Silver and eight bronze.
These enhanced levels of membership provided four major new benefits:
- Recognisation through the Award of Gold, Silver or Bronze membership;
- Bespoke Research (delivered in partnership with Highfliers Research) centred on the five themes of: employment; breadth and balance of the "earn and learn" offering; inclusion and social mobility; scheme quality; and plans for future growth;
-An online Symposium;
-An Awards Celebratory Event held at the House of Lords in early December, which was attended by the Secretary of State for Education, Gillian Keegan MP.
By going through this additional accredited audit, members received data which they can use in their ESG (Environmental, Social and Governance) reporting, in particular benchmarked data on skills investment and social mobility, diversity and inclusion data.
Page 4
**The 5% Club Limited**
## **Report of the Trustees for the Year Ended 31 December 2022**
## **FINANCIAL REVIEW**
## **Financial position**
The Club received donations of £400,005 in the year ended 31 December 2022 (2021: £272,949).
Expenditure on member services, and associated costs, amounted to £335,177, (2021: £244,800) in the year, and The Club incurred administrative and governance costs of £2,571 (2021: £2,485), giving total expenditure in the period of £337,748 (2021: £247,285). The net surplus for the period was £62,257 (2021: £25,664).
At 31 December 2022, The Club had total funds of £255,653, (2021: £193,396). This level of funds is in line with the trustees' plans to December 2022, whereby the balance will be utilised over time to support expansion of existing programmes while ensuring reserves are maintained at a prudent level.
Both income and expenditure are recognized at the point of commitment.
At the time of writing this report the trustees are satisfied that the charity's assets are available and adequate to fulfil its obligations.
## **Principal funding sources**
While the Employer Audit and associated sponsorship are generating new revenue, The 5% Club operation in 2022 continued to rely on the generous support - in kind and/or in financial donations of a small number of patron members. This included the continued secondment from Balfour Beatty of a member of staff to serve as Director of Operations. This enabled the trustees to ensure that the day-to- day administration and compliance of The Club as well as the provision of events, thought leadership reports, surveys and other member services to encourage their earn and learn programmes, were delivered. The trustees would like to thank the following companies for their generous support of The 5% Club during 2021: Accuracy; Balfour Beatty Group plc; Leonardo; Lockheed Martin; MBDA; QinetiQ Group plc; Schneider Electric and WSP.
## **Principal risks and uncertainties**
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. A risk register is discussed at the majority of Board meetings and updated according to the current operating environment. The principal risks faced by The Club are the failure to secure additional funds to support its work, failure to maintain relevance with members, and failure to achieve impact through its members, on beneficiaries. Plans are, therefore, closely examined not only for their relevance to our aims, but also their ability to mitigate these risks.
## **FUTURE PLANS**
As well as four Board meetings, The Trustees also held an annual strategy meeting at the extended November Board meeting.
This provided a forum for Mark Cameron to review the strategy as presented to the Board at its 2021 strategy meeting with recommendations and ambitious targets for 2023. Areas included continuing best practice/networking events, sustaining patron funding and the development of the Employer Audit.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The 5% Club was incorporated as a Company Limited by Guarantee on 28 July 2016. It became a registered charity 1179354 on 26 July 2018.
Page 5
**The 5% Club Limited**
## **Report of the Trustees**
## **for the Year Ended 31 December 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Responsibilities of Trustees**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and 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 the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 trust deed. 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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Organisational structure**
The first directors were appointed for a term of three years and also became the first trustees. New trustees are appointed by existing trustees, by a majority. There must be at least two trustees. Decisions are made by trustees acting as a majority.
In selecting individuals for appointment as trustees, the trustees have regard to the skills, knowledge and experience needed for the effective administration of the charity.
There were five trustees/directors as at 31 December 2022: Yvonne Baker, David Mercer, Stephen Wardell, Jo Volk and Victoria Scarth (Chair).
As at 31 December 2022. The 5% Club had two employees. In May 2022 The Club appointed a dedicated Member and Events Manager, Helen Tanner. To ensure compliance across all HR processes The Club outsourced its requirements to the NatWest HR Mentor service. The Club is supported by a full-time Director of Operations, seconded under legal agreement from one of the patron corporate supporters of The 5% Club.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Company number** 10301475 (England and Wales)
## **Registered Charity number**
1179354
## **Registered office**
212A Bocking Lane Greenhill Sheffield Yorkshire S8 7BP
Page 6
**The 5% Club Limited**
## **Report of the Trustees**
## **for the Year Ended 31 December 2022**
## **Trustees**
Ms Y Baker CEO (resigned 1.12.22) Ms V M Scarth Consultant Ms J Volk Director Of Talent & Development S J Wardell Consultant D Mercer retired General Counsel and Company Sec Ms R Wadhwa Chief Operating Officer (appointed 30.9.22)
## **Trustees Appointed after 31 December 2022**
Dr. I R D N Divanna (appointed 1.2.23) F A Khan (appointed 1.2.23) F R Mahomed (appointed 1.2.23) Ms C P Sagoe (appointed 3.4.23)
## **Company Secretary**
D Mercer
## **Independent Examiner**
Matthew Howe FCA Wilson Howe Limited Chartered Accountants 212A Bocking Lane Greenhill Sheffield Yorkshire S8 7BP
21/08/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Ms V M Scarth - Trustee
Page 7
**Independent Examiner's Report to the Trustees of The 5% Club Limited**
## **Independent examiner's report to the trustees of The 5% Club Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am 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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.
Matthew Howe FCA
Wilson Howe Limited Chartered Accountants 212A Bocking Lane Greenhill Sheffield Yorkshire S8 7BP
21/08/2023 Date: ...................................
Page 8
**The 5% Club Limited**
## **Statement of Financial Activities for the Year Ended 31 December 2022**
|||**31.12.22**|31.12.21|
|---|---|---|---|
|||**Unrestricted**|Total|
|||**fund**|funds|
||Notes|**£**|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies|2|**400,005**|272,949|
|**EXPENDITURE ON**||||
|Raising funds|3|**337,748**|247,285|
|**NET INCOME**||**62,257**|25,664|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||**193,396**|167,732|
|**TOTAL FUNDS CARRIED FORWARD**||**255,653**|193,396|
The notes form part of these financial statements
Page 9
**The 5% Club Limited**
## **Balance Sheet**
## **31 December 2022**
|**31.12.22**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Intangible assets
9
**2,280**
Tangible assets
10
**878**
**3,158**
**CURRENT ASSETS**
Debtors
11
**99,051**
Cash at bank
**281,426**
**380,477**
**CREDITORS**
Amounts falling due within one year
12
**(127,982)**
**NET CURRENT ASSETS**
**252,495**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**255,653**
**NET ASSETS**
**255,653**
**FUNDS**
13
Unrestricted funds
**255,653**
**TOTAL FUNDS**
**255,653**|31.12.21
Total
funds
£
2,443
-
2,443
36,230
185,299
221,529
(30,576)
190,953
193,396
193,396
193,396
193,396|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.
The notes form part of these financial statements
continued...
Page 10
**The 5% Club Limited**
## **Balance Sheet - continued 31 December 2022**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21/08/2023 ............................................. and were signed on its behalf by:
............................................. V M Scarth - Trustee
.............................................
S J Wardell - Trustee
The notes form part of these financial statements
Page 11
## **The 5% Club Limited**
|**Cash Flow Statement**
**for the Year Ended 31 December 2022**
**31.12.22**
Notes
**£**
**Cash flows from operating activities**
Cash generated from operations
1
**97,444**
Net cash provided by operating activities
**97,444**
**Cash flows from investing activities**
Purchase of tangible fixed assets
**(1,317)**
Net cash (used in)/provided by investing activities
**(1,317)**
**Change in cash and cash equivalents in**
**the reporting period**
**96,127**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**185,299**
**Cash and cash equivalents at the end of**
**the reporting period**
**281,426**|31.12.21
£
16,012
16,012
-
-
16,012
169,287
185,299|
|---|---|
The notes form part of these financial statements
Page 12
**The 5% Club Limited**
## **Notes to the Cash Flow Statement**
## **for the Year Ended 31 December 2022**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**|||
|---|---|---|
||**31.12.22**|31.12.21|
||**£**|£|
|**Net income for the reporting period (as per the Statement of Financial**|||
|**Activities)**|**62,257**|25,664|
|**Adjustments for:**|||
|Depreciation charges|**602**|163|
|Increase in debtors|**(62,821)**|(29,508)|
|Increase in creditors|**97,406**|19,693|
|**Net cash provided by operations**|**97,444**|16,012|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1/1/22|Cash flow|**At 31/12/22**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**185,299**|**96,127**|**281,426**|
||**185,299**|**96,127**|**281,426**|
|**Total**|**185,299**|**96,127**|**281,426**|
The notes form part of these financial statements
Page 13
**The 5% Club Limited**
## **Notes to the Financial Statements**
## **for the Year Ended 31 December 2022**
## **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 2019)', 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.
## **Intangible assets**
The intangible asset was acquired in 2015 and amortisation is being charged on a straight line basis over its estimated useful life of 20 years.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **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.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
Page 14
**The 5% Club Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **2. DONATIONS AND LEGACIES**
|**31.12.22**
**£**
Donations
**122,000**
Donated services and facilities
**106,750**
Sponsors
**35,000**
Employer audit
**136,255**
**400,005**
**3.**
**RAISING FUNDS**
**Raising donations and legacies**
**31.12.22**
**£**
Staff costs
**199,849**
Room hire
**11,821**
Insurance
**668**
Marketing
**2,011**
Telephone
**393**
Postage and stationery
**206**
Sundries
**180**
Consultancy fees
**107,544**
Website costs
**3,020**
Administration assistance
**3,663**
Travelling and subsistence
**3,755**
Subscriptions
**751**
Bad debt
**714**
Amortisation
**602**
Support costs
**2,571**
**337,748**
**4.**
**SUPPORT COSTS**
Governance
Finance
costs
£
£
Raising donations and legacies
**574**
**1,997**
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**31.12.22**
**£**
Depreciation - owned assets
**439**
Room hire
**11,821**
Patents and licences amortisation
**163**|31.12.21
£
107,000
103,314
-
62,635
272,949
31.12.21
£
176,547
6,688
642
354
-
-
94
51,768
2,983
3,738
1,211
612
-
163
2,485
247,285
Total
£
**2,571**
31.12.21
£
-
6,688
163|
|---|---|
continued...
Page 15
**The 5% Club Limited**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 December 2022**
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **7. STAFF COSTS**
There were 2 part-time employees of The 5% Club in this accounting period, working alongside a seconded worker from Balfour Beatty plc.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
## **9.**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|272,949|
|**EXPENDITURE ON**||
|Raising funds|247,285|
|**NET INCOME**|25,664|
|**RECONCILIATION OF FUNDS**||
|Total funds brought forward|167,732|
|**TOTAL FUNDS CARRIED FORWARD**|193,396|
|**INTANGIBLE FIXED ASSETS**||
||Patents|
||and|
||licences|
||£|
|**COST**||
|At 1 January 2022 and 31 December 2022|**3,258**|
|**AMORTISATION**||
|At 1 January 2022|**815**|
|Charge for year|**163**|
|At 31 December 2022|**978**|
|**NET BOOK VALUE**||
|At 31 December 2022|**2,280**|
|At 31 December 2021|2,443|
continued...
Page 16
**The 5% Club Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **10. TANGIBLE FIXED ASSETS**
|**10.**
**TANGIBLE FIXED ASSETS**|||
|---|---|---|
|**COST**
Additions
**DEPRECIATION**
Charge for year
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
**13.**
**MOVEMENT IN FUNDS**
At 1/1/22
£
**Unrestricted funds**
General fund
**193,396**
**TOTAL FUNDS**
**193,396**|**31.12.22**
**£**
**72,216**
**4,510**
**18,265**
**4,060**
**99,051**
**31.12.22**
**£**
**123,518**
**4,464**
**127,982**|Computer
equipment
£
**1,317**
**439**
**878**
-
31.12.21
£
27,582
6,124
2,524
-
36,230
31.12.21
£
27,915
2,661
30,576
At
31/12/22
£
**255,653**
**255,653**|
||Net
movement
in funds
£
**62,257**
**62,257**||
continued...
Page 17
**The 5% Club Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **13. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
**400,005**
**400,005**|Resources
Movement
expended
in funds
£
£
**(337,748)**
**62,257**
**(337,748)**
**62,257**|
|---|---|---|
## **Comparatives for movement in funds**
|At 1/1/21
£
**Unrestricted funds**
General fund
167,732
**TOTAL FUNDS**
167,732
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
272,949
**TOTAL FUNDS**
272,949|Net
movement
At
in funds
31/12/21
£
£
25,664
193,396
25,664
193,396
Resources
Movement
expended
in funds
£
£
(247,285)
25,664
(247,285)
25,664|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/1/21
£
167,732
167,732|Net
movement
in funds
£
87,921
87,921|At
31/12/22
£
255,653|
|---|---|---|---|
||||255,653|
continued...
Page 18
**The 5% Club Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022**
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
672,954
672,954|Resources
Movement
expended
in funds
£
£
(585,033)
87,921
(585,033)
87,921|
|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022.
Page 19
**The 5% Club Limited**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Donated services and facilities
Sponsors
Employer audit
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Wages
Room hire
Insurance
Marketing
Telephone
Postage and stationery
Sundries
Employer Audit costs
Website costs
Administration assistance
Travelling and subsistence
Subscriptions
Bad debt
Amortisation
Depreciation of tangible fixed assets
**Support costs**
**Finance**
Bank charges
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2022**
31.12.22
31.12.21
£
£
**122,000**
107,000
**106,750**
103,314
**35,000**
-
**136,255**
62,635
**400,005**
272,949
**400,005**
272,949
**199,849**
176,547
**11,821**
6,688
**668**
642
**2,011**
354
**393**
-
**206**
-
**180**
94
**107,544**
51,768
**3,020**
2,983
**3,663**
3,738
**3,755**
1,211
**751**
612
**714**
-
**163**
163
**439**
-
**335,177**
244,800
**574**
212
**1,997**
2,273
**337,748**
247,285
**62,257**
25,664|
|---|---|
|||
This page does not form part of the statutory financial statements
Page 20