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2023-12-31-accounts

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 2023

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 2023

Page
Report of the Trustees 1 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 20
Detailed Statement of Financial Activities 21

The 5% Club Limited

Report of the Trustees

for the Year Ended 31 December 2023

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 2023. 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:

*"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 2023

OBJECTIVES AND ACTIVITIES Significant activities

During 2023 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:

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:

21 February - The Apprenticeship Levy - how can we seize the opportunity (with City and Guilds, hosted by The Co-op in Central Manchester).

21 March - The 5% Club 10th Anniversary Reception, Westminster Abbey

2 May - Employer Audit Launch Event (soft launch 4 April) The Graduate and Apprenticeship Landscape - an overview of trends: how The 5% Club Employer Audit can help you benchmark, plan, and adapt

16 May - Unleashing L&D's remarkable capacity to boost wellbeing, online event with the Open University May - June 2023 - Employer Audit Briefing Events x 4

14 June - Attracting and Engaging Gen Z. Online event in conjunction with Unifrog

20 June - World Skills Roundtable

22 June - Supporting companies with their Apprenticeship Journey, in-person Event in conjunction with London Apprenticeship Ambassador Network/London City Institute of Technology

27 June - Steering Group

13 July - Supporting Apprentices End to End - online event in conjunction with City & Guilds

13 July - Building a Better Future - CEO involved in panel discussion with Tiro (Training Provider).

19 July - Single Apprenticeship Application "Hackathon" in association with UniFrog

26 July - Elevate Equity, CEO involved in panel discussion in this OU led Event

20 September - Roundtable with key Scottish members

20 September - The 5% Club Scotland Event - 10th anniversary reception, in person, Scottish Parliament

12 October - Navigating the Graduate Recruitment Landscape (with CareerMap)

24 October - Brathay Briefing for "Space to Think" Insight Event

9 November - Employer Audit Symposium, online

29 November- Employer Audit Reception, Mansion House, in person 29 November- Steering Group

Additional member meetings were held as follows: (all in person) - Steering Group - June

Membership

Membership as at 31 December 2023 stood at 967 members.

Page 2

The 5% Club Limited

Report of the Trustees

for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES

CEO Mark Cameron continued a quarterly patron catch up schedule to consolidate systematic engagement and relationship management of The Club's funders.

In December we welcomed a new Patron Member BPP University, an apprenticeship training provider.

Earn and Learn Awards

In November, The 5% Club further recognised its outstanding members by awarding 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 City & Guilds, OU, The School Outreach Company, Unifrog and the St Martins Group.

Members who achieved The Club's enhanced Platinum, Gold, Silver or Bronze accredited membership, were invited to a reception at Mansion House and award winners were selected from these180 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 & Learn" Awards: Quality - Sponsored by BPP Winner, Large Employer: Cross Country Trains Winner, SME: Malakoff

The 5% Club UK National Employer "Earn & Learn" Awards: Growth - Sponsored by the St Martins Group Winner, Large Employer: Tara Group Winner, SME: Accuracy

The 5% Club UK National Employer "Earn & Learn" Awards: Inclusion and Social Mobility - Sponsored by The School Outreach Company Winner, Large Employer: Capgemini Winner, SME: AD Construction Group

The 5% Club UK National Employer "Earn & Learn" Awards: Breadth - Sponsored by the Open University Winner, Large Employer: Bell Group Winner, SME: Mivan

The 5% Club UK National Employer "Earn & Learn" Awards: Highest Percentage - Sponsored by Unifrog Winner, Large Employer: Aecom Winner, SME: Clive Owen LLP

The 5% Club UK National Employer "Earn & Learn" Awards: Employer of The Year - Sponsored by City & Guilds Winner, Large Employer: William Hare Winner, SME: Mivan

10th Anniversary

2023 was The Club's 10th Anniversary. Activity centred on Celebration Events in London at Westminster Abbey and Edinburgh at the Scottish Parliament. A new level of Employer Audit Award was developed with the introduction of Platinum level for those members who had achieved Gold level for three years with 10% of their workforce in 'earn and learn'.

The 10th Anniversary also saw the launch of The 5% Club Fellowship and 10 Fellows were appointed on 29 November 2023.

Page 3

The 5% Club Limited

Report of the Trustees

for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES

The inaugural Fellows were:

Andrew Churchill OBE, Chairman, JJ Churchill Tony Ellender, Professional Development Manager, Balfour Beatty UK Rt Hon Robert Halfon MP Dr. Sam Healy BEM, Group Director ESG, Qinetiq Karima Khandker, Director of Resourcing, Skills and EDI, Thames Water Mark Lomas, Head of Culture, Lloyds Katie Nightingale, Director, People Consulting, Grant Thornton Professor Steve Petrie, Regional Director, Centrica/British Gas Chris Shirley, Head of UK Skills & Development, Qinetiq Kate Whatley, Commercial Manager, SPV

Our Founder Leo Quinn also announced the Balfour Beatty Supply Chain "Founders Award" Scheme at the 10th Anniversary event in March and the recipients of these awards were invited to the Audit Celebration event, the closing event of the 10th Anniversary, in November 2023.

Additional sponsorship relationships were developed with UCAS to support the 10th Anniversary activity and with SSEN who supported the 10th Anniversary Scottish event at the Scottish Parliament.

Policy Activity

The Employer Audit 2022 "Report on Proceedings' was published as a thought leadership paper and used to promote the 2023-24 Employer Audit.

Research was undertaken with City & Guilds, "Levying Up - Delivering Sustainable Skills"; followed up by an article from Mark Cameron ,CEO in FE News 23 Feb. This was supported by a Member Event in Manchester, and a planned follow-up online event.

Research was also undertaken with Open University, "L&D's role in Employee Wellbeing" and launched at a joint webinar.

The CEO was interviewed and quoted in Tiro's Paper titled, "The evolving hiring landscape" - August 2023.

A Round Table Event delivered in partnership with WorldSkills UK explored "Beyond the next decade; Skills System 2.0".

The 5% Club was one of the signatories to a letter from the Youth Employment Group to Prime Minister Rt Hon Rishi Sunak MP, calling on the Government to adopt a Young Person's Guarantee for England.

Page 4

The 5% Club Limited

Report of the Trustees for the Year Ended 31 December 2023

OBJECTIVES AND ACTIVITIES

The 5% Club Employer Audit and Awarding of Gold, Silver and Bronze Membership

The 5% Club Employer Audit and Awarding of Gold, Silver and Bronze Membership was launched in 2021. The Club continued this accredited level of membership in 2023, with enhanced benefits and prestigious awards of Platinum, 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 third year 180 members participated in and paid for this new service.

31 Members were awarded Platinum Membership 119 Members were awarded Gold Membership

22 Members were awarded Silver Membership

8 Members were awarded Bronze Membership

These enhanced levels of membership provided four major benefits:

-An online Symposium;

-An Awards Celebratory Event held at the House of Lords in early December, which was attended by Rt Hon Robert Halfon MP in his capacity as Minister of State (Minister for Skills, Apprenticeships and Higher Education).

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.

A grant was awarded to The 5% Club during 2023 by the ERA Foundation. This was awarded to facilitate the involvement of SMEs from the electrotech sector to participate in the Employer Audit.

A pre-pilot scheme was tested with eight SMEs in the supply chain of patron member Leonardo. All eight participants were awarded enhanced membership (seven Gold level and one Silver level) and this test phase provided invaluable insight to further enhance the approach as further Pilots (including the provision of a new Consultancy Service) are delivered in 2024. This will include the "rebadging" of our Employer Audit Supply Chain activities as The 5% Club Gravity scheme.

The Board agreed that this test pre-pilot phase should be allocated against the 2023 Employer Audit costs and the ERA Foundation grant should be carried over (as deferred income) into 2024 when it can be utilised to greater effect via an improved scheme.

FINANCIAL REVIEW Financial position

The Club received donations of £472,737 in the year ended 31 December 2023 (2022: £400,005).

Expenditure on member services, and associated costs, amounted to £445,386, (2022: £335,177) in the year, and The Club incurred administrative and governance costs of £2,784 (2022: £2,571), giving total expenditure in the period of £448,170 (2022: £337,748). The net surplus for the period was £24,567 (2022: £62,257).

At 31 December 2023, The Club had total funds of £280,220, (2022: £255,653). This level of funds is in line with the trustees' plans to December 2023, 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.

Page 5

The 5% Club Limited

Report of the Trustees

for the Year Ended 31 December 2023

FINANCIAL REVIEW

Principal funding sources

While the Employer Audit and associated sponsorships are generating new revenue, The 5% Club operation in 2023 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 2023: Accuracy; Balfour Beatty Group plc; BPP; Leonardo; Lockheed Martin; MBDA; QinetiQ Group plc; 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 September Board meeting.

This provided a forum for Mark Cameron to review the strategy as presented to the Board at its 2022 strategy meeting with recommendations and ambitious targets for 2024. 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 6

The 5% Club Limited

Report of the Trustees

for the Year Ended 31 December 2023

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:

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 nine trustees/directors as at 31 December 2023: David Mercer, Jo Volk, Victoria Scarth (Chair), Ritika Wadhwa, Isabel Divanna, Faheem Khan, Faisal Mahomed, Charlene Sagoe and Ozlem Gunduz Robinson.

As at 31 December 2023. The 5% Club had two employees. 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 7

The 5% Club Limited

Report of the Trustees

for the Year Ended 31 December 2023

Trustees

Ms V M Scarth Consultant

Ms J Volk Director Of Talent & Development (resigned 21.2.24) S J Wardell Consultant (resigned 6.12.23)

D Mercer retired General Counsel and Company Sec

Ms R Wadhwa Chief Operating Officer Dr. I R D N Divanna Business Development/Consultant (appointed 1.2.23) (resigned 1.2.24)

F A Khan Deputy Head Teacher (appointed 1.2.23)

F R Mahomed Executive Director (appointed 1.2.23) Ms C P Sagoe Head of DE&I (appointed 3.4.23) Ms O Gunduz-Robinson Head of International Private Banking (appointed 24.10.23)

Company Secretary

D Mercer

As part of Board succession planning, a number of new trustees were recruited and appointed over the last 18 months, with the aim of building a broad and well-diversified Board as well as allowing for a smooth transition from long-serving Trustees due to retire under normal governance best practise and/or for personal reasons.

Independent Examiner

Matthew Howe FCA Wilson Howe Limited Chartered Accountants 212A Bocking Lane Greenhill Sheffield Yorkshire S8 7BP

04/07/2024

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Ms V M Scarth - Trustee

Page 8

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 2023.

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

04/07/2024 Date: .............................................

Page 9

The 5% Club Limited

Statement of Financial Activities for the Year Ended 31 December 2023

31.12.23 31.12.22
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 472,737 400,005
EXPENDITURE ON
Raising funds 3 448,170 337,748
NET INCOME 24,567 62,257
RECONCILIATION OF FUNDS
Total funds brought forward 255,653 193,396
TOTAL FUNDS CARRIED FORWARD 280,220 255,653

The notes form part of these financial statements

Page 10

The 5% Club Limited

Balance Sheet

31 December 2023

31.12.23
Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
9
2,127
Tangible assets
10
439
2,566
CURRENT ASSETS
Debtors
11
59,194
Cash at bank
443,569
502,763
CREDITORS
Amounts falling due within one year
12
(225,109)
NET CURRENT ASSETS
277,654
TOTAL ASSETS LESS CURRENT
LIABILITIES
280,220
NET ASSETS
280,220
FUNDS
13
Unrestricted funds
280,220
TOTAL FUNDS
280,220		 31.12.22
Total
funds
£
2,280
878
3,158
99,051
281,426
380,477
(127,982)
252,495
255,653
255,653
255,653
255,653

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 11

The 5% Club Limited

Balance Sheet - continued 31 December 2023

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 ............................................. and were signed on its behalf by: 04/07/2024

............................................. V M Scarth - Trustee

............................................. F R Mahomed - Trustee

The notes form part of these financial statements

Page 12

The 5% Club Limited

Cash Flow Statement
for the Year Ended 31 December 2023
31.12.23
Notes
£
Cash flows from operating activities
Cash generated from operations
1
162,143
Net cash provided by operating activities
162,143
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 reporting period
162,143
Cash and cash equivalents at the
beginning of the reporting period
281,426
Cash and cash equivalents at the end of
the reporting period
443,569		 31.12.22
£
97,444
97,444
(1,317)
(1,317)
96,127
185,299
281,426

The notes form part of these financial statements

Page 13

The 5% Club Limited

Notes to the Cash Flow Statement

for the Year Ended 31 December 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operations		 31.12.23
£
24,567
592
39,857
97,127
162,143		 31.12.22
£
62,257
602
(62,821)
97,406
97,444

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£ £ £
Net cash
Cash at bank 281,426 162,143 443,569
281,426 162,143 443,569
Total 281,426 162,143 443,569

The notes form part of these financial statements

Page 14

The 5% Club Limited

Notes to the Financial Statements

for the Year Ended 31 December 2023

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 15

The 5% Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

2. DONATIONS AND LEGACIES

31.12.23
£
Donations
122,000
Donated services and facilities
110,350
Sponsors
51,000
Employer audit
189,387
472,737
3.
RAISING FUNDS
Raising donations and legacies
31.12.23
£
Staff costs
235,485
Room hire
35,325
Insurance
759
Marketing
3,002
Telephone
718
Postage and stationery
547
Sundries
170
Employer Audit costs
149,580
Website costs
3,389
Administration assistance
8,008
Travelling and subsistence
6,733
Subscriptions
1,078
Bad debt
-
Amortisation
592
Support costs
2,784
448,170
4.
SUPPORT COSTS
Governance
Finance
costs
£
£
Raising donations and legacies
769
2,015
5.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.12.23
£
Depreciation - owned assets
439
Room hire
35,325
Patents and licences amortisation
153		 31.12.22
£
122,000
106,750
35,000
136,255
400,005
31.12.22
£
199,849
11,821
668
2,011
393
206
180
107,544
3,020
3,663
3,755
751
714
602
2,571
337,748
Totals
£
2,784
31.12.22
£
439
11,821
163

continued...

Page 16

The 5% Club Limited

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

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 400,005
EXPENDITURE ON
Raising funds 337,748
NET INCOME 62,257
RECONCILIATION OF FUNDS
Total funds brought forward 193,396
TOTAL FUNDS CARRIED FORWARD 255,653
INTANGIBLE FIXED ASSETS
Patents
and
licences
£
COST
At 1 January 2023 and 31 December 2023 3,258
AMORTISATION
At 1 January 2023 978
Charge for year 153
At 31 December 2023 **1,131 **
NET BOOK VALUE
At 31 December 2023 2,127
At 31 December 2022 2,280

continued...

Page 17

The 5% Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

10. TANGIBLE FIXED ASSETS

COST
At 1 January 2023 and 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
Prepayments
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
ERA foundation funds
Social security and other taxes
13.
MOVEMENT IN FUNDS
At 1/1/23
£
Unrestricted funds
General fund
255,653
TOTAL FUNDS
255,653		 31.12.23
£
28,116
4,510
25,168
1,400
59,194
31.12.23
£
178,271
42,000
4,838
225,109
Net
movement
in funds
£
24,567
24,567		 Computer
equipment
£
1,317
439
439
878
439
878
31.12.22
£
72,216
4,510
18,265
4,060
99,051
31.12.22
£
123,518
-
4,464
127,982
At
31/12/23
£
280,220
280,220

continued...

Page 18

The 5% Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

13. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
472,737
472,737		 Resources
Movement
expended
in funds
£
£
(448,170)
24,567
(448,170)
24,567

Comparatives for movement in funds

At 1/1/22
£
Unrestricted funds
General fund
193,396
TOTAL FUNDS
193,396
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
400,005
TOTAL FUNDS
400,005		 Net
movement
At
in funds
31/12/22
£
£
62,257
255,653
62,257
255,653
Resources
Movement
expended
in funds
£
£
(337,748)
62,257
(337,748)
62,257

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/22
£
193,396
193,396		 Net
movement
in funds
£
86,824
86,824		 At
31/12/23
£
280,220
280,220

continued...

Page 19

The 5% Club Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

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
£
872,742
872,742		 Resources
Movement
expended
in funds
£
£
(785,918)
86,824
(785,918)
86,824

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 20

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 2023
31.12.23
31.12.22
£
£
122,000
122,000
110,350
106,750
51,000
35,000
189,387
136,255
472,737
400,005
472,737
400,005
235,485
199,849
35,325
11,821
759
668
3,002
2,011
718
393
547
206
170
180
149,580
107,544
3,389
3,020
8,008
3,663
6,733
3,755
1,078
751
-
714
153
163
439
439
445,386
335,177
769
574
2,015
1,997
448,170
337,748
24,567
62,257

This page does not form part of the statutory financial statements

Page 21