Soroptimist International Great Britain and Ireland Annual Report 2024 - Page |Foreword by the Chairman of the Board|3| |---|---| |Trustees of SIGBI Ltd|3| |Programme Acton Overview|4| |Partnerships|5| |Peace|5| |Planet|6| |Prosperity|6| |People|6| |SIGBI Charitable Funds|7| |Company Details|8| Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 2 Standing Up for Women and Girls is the strapline of Soroptimist International Great Britain & Ireland (SIGBI). Its local members across 250 clubs in the UK, Republic of Ireland, Malta, Asia, and the Caribbean pursue grassroots projects that help women and girls achieve their individual and collective potential. SIGBI focuses on empowering women and girls to achieve their full potential and works to eliminate barriers and discriminations that hinder women’s progress. In addition, the organisation has consultancy status at the United Nations with members participating in UN meetings, submitting statements and collaborating on global projects which advance gender equality. With a heritage that stretches back more than a century, SIGBI’s members want to give something back to their communities, to make their voices ## **Our Key Achievements 2023-2024** : In addition to those outlined on the following pages: - Increased engagement with members through the Hub with more projects being reported and seen by members and clubs. - Engagement of a PR agency to ensure the name of Soroptimist, as well as the work undertaken, is well known. - Chartering of 6 new clubs in the year to March 2024 with another 4 in the months after. - • Welcoming 10% new members during the year. heard on issues that affect women, and to support women and girls who are vulnerable, disadvantaged or do not have a voice. The year to March 2024 has proven to be no exception in the determination of members to make a difference as can be evidenced in the following pages. In an increasingly volatile world with women and girls suffering disproportionately, the work of our members and those other Soroptimists around the world has never been more important. I am very proud to call myself a Soroptimist and I am equally proud of all those that stand alongside me as Soroptimists. I wish to extend and enormous message of thanks to all our members and staff that have worked tirelessly to make a difference. Ruth Healey, President Chris Corless, Finance Director Gillie O’Rourke, President Elect Giselle Davies, Governance Director Lindsay Green, Programme Director Dishi Attwood, Membership Director Anne Rogers, PR, Marketing and Communications Director (Nov 2022 to March 2024) Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 3 ## **Programme Action Overview 2023-2024** Soroptimists call their project work ‘Programme Action’ and we choose projects that tackle our Charitable objects and the UN Sustainable Development Goals. They can be Local, Regional or International in nature, big or small. Programme activity has continued to rise over the last year with 2030 reports submitted onto our Hub database. These reports are accessible to all members and on average they have been looked at 8 times by other members,17,455 views in total. By looking at the reports, members can gain inspiration, and successful projects can be replicated across the Federation. The spread of our work can be seen in Figure 1. The majority of our projects work towards our Charitable objects of Health, Education, and Poverty. As Sustainable Development Goals they are classified as 1 of the 5 P’s named People, see Figure 2. ## **Working for Women and Girls** Our drive is to make changes that improve the lives of women and girls, especially those who are marginalised or less able to stand up for themselves. This year we have undertaken 1025 projects for women, 210 that are aimed specifically at girls and 795 community projects that are harder to quantify in respect of numbers benefited. Members reported that we had directly helped over 85,650 women and girls across the Federation and we have raised £638,000 which has been used to support our projects, assist other charities and give direct grants to women to assist their education and occupations. Lendwithcare and Kiva loans have also shown to be increased across the Federation, with more clubs getting involved. The word cloud (Figure 3) illustrates some of the comments received by our beneficiaries. At conference in November 2023, we introduced a Delegates Choice category for the overall winner of the Best Practice Awards. This was won by SI Stafford for their ‘Long-term Support Projects for Women In Prison’. This year clubs are going to apply to win the Best Practice Awards rather than them being chosen by the Programme team. We have also introduced programme webinars to share information and good practice. We have had separate working groups looking at Women’s Safety (including Violence against Women and Girls), AntiSlavery, and Climate Challenge/Environment. The Domestic Abuse Court Observation report was published last summer and was circulated widely and programme resources have been produced for members to use. Our advocacy work continues with many clubs undertaking Orange cafes to showcase the 25[th] of the month which is designated as a United Nations day to unite against Violence against Women. The cafes started as an idea in Edinburgh and this has quickly spread across the whole Federation footprint. We have continued to write letters, sign petitions and co-sign documents on subjects covered by our Objects and regular blogs have been written on specific UN days. In March seven members from the Federation attended the Commission on the Status of Women (CSW) in New York where we had the opportunity to advocate for women in girls by networking, holding events and taking part in meetings. As last year, many more members took the opportunity to join events virtually from their homes. _Figure 1 Reporting on each of the SDG 5P’s_ _Figure 2 allocation of Projects within People_ _Figure 3 Word-cloud of comments from beneficiaries_ Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 4 ## **Our achievements towards the UN Sustainable Developments Goals (SDGs)** ## **Partnerships SDG 17 and End Poverty SDG 1** ## **Ayushi Kundu** Effective partnership amongst various stakeholders is key for achieving the Sustainable Development Goals. It is imperative to unite meaningfully to address the global challenges we face, especially poverty, which often leads up to other problems. I highlight below projects undertaken by clubs across the Federation in relation to partnership and poverty, to achieve the missions of our organisation. - **Nurturing young years:** Moses baskets were provided to mothers of newborn babies, including toiletries for mother and baby, nappies and specific items of clothing and blankets and other important necessities for the first 3-6 months of a baby’s life. This was done in partnership with organisations supporting new mothers at an important juncture in their lives needing extra help. Clothing for children up to 6 years were knitted and distributed to mothers in need. - **Domestic abuse:** Clubs partnered with organisations to offer help to victims escaping domestic abuse by providing clothing items to refugees who ran out of stock and need more support. One-pot cookery classes were conducted for women suffering from domestic abuse in partnership with refuge centres. Training was organised for local communities to raise awareness on different aspects of abuse and harassment. - **Food poverty:** Members have partnered with other organisations and supported campaigns to end food poverty. Events included walking a 5-mile route to raise awareness. Hampers including non-perishable food items have also been donated to needy families battling food poverty, especially around Christmas. - **Health:** Clubs partnered with NHS to produced mastectomy/breast cancer surgery cushions. Awareness programmes including games and webinars for different health issues have been organised for school, colleges and the public to educate and empower them. ## **Peace SDG 16 and Gender Equality SDG 5** ## **Debra Joseph for Meenakshi Ray** - Members raised funds for Ukraine which were sent through SI clubs in Europe and other organisations engaged in relief work. Supplies sent included medical equipment, clothing, children’s toys, food and sanitary items. There was also assistance from clubs for refugees who are starting a new life in UK in the form of clothing, toiletries, and starter kits. - One notable event was their observance of the International Day of Living Together in Peace on May 16, 2024. To commemorate this Day, SIGBI emphasised the importance of understanding, tolerance, and respect among people from diverse backgrounds. They highlighted the need for inclusive spaces, non-violence, and the rejection of hatred and discrimination to foster peaceful coexistence. - One Club planted a virtual peace pole in Haiti to bring awareness to the conflict and violence in that country. Additionally, a video on the topic of peace and how Soroptimists can assist to bring some semblance of peace in the world was circulated on social media platforms. - Clubs across the Federation marked the 16 days of Activism in November/December 2023 by engaging in activities to fight gender-based violence, domestic abuse and modern-day slavery. The campaign included lighting up public buildings in orange, social media and posters, and workshops to educate girls/young women on the need to fight any kind of exploitation or abuse. - Orange cafes events were organised by several clubs. Orange Day calls upon activists, to mobilize people and highlight issues relevant to preventing and ending violence against women and girls, not only once a year on 25 November, the International Day for the Elimination of Violence against Women, but every month. - Various clubs started petitions with local MPs and other authorities to advocate for a variety of humanitarian issues such. Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 5 ## **Planet SDGs 6, 12, 13, 14, 15 and Food Poverty SDG 2** ## **Anitha Rajarajan** Climate change is a major threat to our planet, impacting ecosystems, economies & communities. SI is addressing this crisis through education, advocacy & sustainable projects. Our members across SIGBI show how grassroots efforts can create positive change and promote caring for the environment. - In the planet category, 397 reports were generated, with 83 specifically on SDG 13: Climate Action. Members have been actively seeking ways to reduce landfill waste by collaborating with local groups for beach clean ups, monthly litter picking, selling pre-loved clothes, and distributing reusable menstrual pads. - Our clubs are dedicated to raising local awareness and participating in environmental issues, including the Big Plastic Count by Greenpeace. Clubs like Cockermouth & District in Northern England support food banks by fundraising to buy food vouchers and collecting food donations from the community. - In St. Helens, members donate apples from their orchards to homeless centres, providing fresh fruit to those in need, preventing waste, and saving fuel. Across the Federation, clubs continued to plant trees. - Soroptimist International San Fernando (SISF) educated school children on the negative effects of single-use plastics and promoted the principles of Reduce, Reuse, Recycle to raise environmental awareness. ## **Prosperity SDGs 7, 8, 9, 10, 11 and Education SDG 4** ## **Shukla Chattopadhyay** Prosperity aims to improve the quality of life for women and girls across the Federation, improving the prosperity quotient of communities by providing them with educational and upskilling opportunities. Clubs have tried to enhance career opportunities for young girls/women by providing six girls with job interviews to get them started in their careers, and supporting restaurants run by differently abled women by holding regular coffee meetings and speaker sessions there. Clubs have organized a fundraising dinner to support a crab cultivation project in the coastal area, benefitting five women. Clubs have collected about 691 books and distributed them to provide ease of learning through reading outside the text as well as distributed bookmarks showing the difference between healthy and toxic relationships to increase awareness of such delicate yet important issues. Vocational training has empowered eight women by upskilling their tailoring skills. ## **People SDG 3 Health** ## **Eleanor Evans** Clubs around the Federation have continued to work to improve the health and wellbeing of women and girls. - Making items for premature babies, care homes, fistula clinics, dementia suffers and those recovering from breast cancer. - Awareness campaigns on breast cancer, cervical cancer, ovarian cancer, women’s wellness and urinary incontinence. - Organising events on menstrual hygiene and supplying period products to school girls. - Volunteering within communities including in care homes and projects tackling loneliness . - Fundraising for a range of causes including those relating to breast cancer, bereaved mothers, neo natal baby care, hospices, dementia, toilet twinning. - Advocacy on topics such as access to dentistry services and local pharmacies in the UK, and on changes to FGM laws in Gambia. Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 6 ## **Benevolent Fund - Charity No: 211840** The Benevolent Fund works to assist current and recent past members who find themselves in financial difficulty. The cost of living continues to be high, particularly food, fuel, and other necessities, having significant impact on members with fixed, limited incomes. Trustees are diligent in maintaining contact with beneficiaries and highlighting areas of concern. The Benevolent Fund depends on income from investment (which remains low) plus members’ contributions via membership fees, donations from clubs, regions, individuals, and legacies. We are immensely grateful to those who remember the Fund in their bequests. This year we have received one legacy of £1,959 and a club that closed donated the balance in their account, £1143.86. During this year we have paid grants to 10 members. In 2023 we diligently reviewed all applications and slightly reduced the number of beneficiaries; however; one beneficiary was reinstated (change of circumstance). In addition, we assisted a beneficiary with the purchase of a washing machine (to avoid debt). Our Trustees work tirelessly to enhance the profile of the Benevolent Fund throughout the UK and Ireland. They endeavour to keep up to date with state benefits available and direct beneficiaries to the appropriate departments, and are an invaluable asset. ## **Diamond Education Grant - Charity No: 1139668** The charity now has five trustees with four new Trustees joining the Board in 2023-24. Income for the year was £10,577 , which included donations, levies and legacies of £6,315 and investment income of £4,262. Expenditure for the year was £40,170, which included grants of £38,642, investment management charges of £1,208, and Independent Examiner's fees of £320. There were 37 grants awarded, from 270 applications received. The total amount allocated in grants was £38,642, and the average amount of each grant was £1,044. One student told us "I was a hotel attendant being exploited and out of education for 30 years. I have just completed a Level 4 Diploma in Therapeutic Integrative Counselling. The NHS has recruited me to join their specialist team that deals with those suffering the greatest traumas. I am so grateful that the DEG supported me to do this with a grant and mentorship. I am fulfilling my dream, helping others to survive and thrive and now I am my true self." ## **Emergency Relief Fund Charity No: 211231** The Emergency Relief Fund is used to help those people in immediate need of primary relief due to disasters throughout the world. Individual members may recommend that funds are provided for certain situations. The Trustees then consider the recommendations and where applicable, the size of the grant. The operating protocol for the Fund details the approved charities to which funds will be forwarded; in exceptional circumstances, where there are no charities working in the affected area, funds may be channelled to a Soroptimist club. ## **Income 2023/24** Levies £2,238 Gift Aid £259 Donations and legacies £2,086 Investment income £4,305 ## **Donations 2023/24** Donation of £2,000 was made to the British Red Cross (for the Morocco Earthquake Appeal) Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 7 ## **Company Details** ## **Soroptimist International Great Britain and Ireland (SIGBI) Limited Company Number: 07058666** **Headquarters** 2nd Floor Beckwith House 1 Wellington Road North Stockport SK4 1AF **Tel:** 0161 480 7686 **Email:** hq@sigbi.org **Website:** www.sigbi.org **Twitter:** @sigbi1 **Facebook:** facebook.com/soroptimistsigbi ## **About Us** Soroptimists educate, empower and enable women and girls to improve their lives. Soroptimist International of Great Britain and Ireland (SIGBI) has over 5,000 Members in 250 Clubs operating across 18 countries in Asia, the Caribbean and Europe. The word “Soroptimist” is a combination of the Latin words “soror” meaning Sister and “optima” meaning best - so we want the best for women. Soroptimists implement projects across the world, advocate at local, national and international levels and enable women and girls to reach their full potential. ## **Vision** Women and girls will achieve their individual and collective potential, realise aspirations and have an equal voice in creating strong, peaceful communities worldwide. ## **Mission** Soroptimists transform the lives and status of women and girls through education, empowerment and enabling opportunities. Founded in 1921, Soroptimist International is a worldwide service organisation for women. We are committed to a world where women and girls together achieve their individual and collective potential, realise aspirations and have an equal voice in creating strong, peaceful communities worldwide. Soroptimist International Great Britain and Ireland Annual Report 2024 - Page 8 Registered number: 07058666 Charity number- 1179433 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND (SIGBI) LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company> its Trustees and advisers Trusto9s' rgport Independent examiner's report ststement of Flnanclal Actlvltleg Balance sheet 10 Notes to the financial statements 11-24 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Ruth Healey Dishi At￿ood Christine Corless lappoinled 5 November 20231 Giselle Davies Lindsay Green Gwynneth O'Rourke (appointed 4 November 20231 Catherine May Cottridge (resigned 4 November 20231 Anne Rogers Iresigned 11 March 20241 Company registered number 07058666 Charity registered number 1179433 Registered office 2nd Floor Beckwilh House 1 Wellington Road North Stockport Cheshire SK4 1AF Accountants James Cowper Kreston Chartered Accounlanls 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Bankers Nalwest Stockport Underbank Hall 10 Great Underbank Stockport Cheshire SK1 1LL Page 1 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are directors for the purposes of company law, present the annual report together wth the financial statements and independent examinerfs report of the charitable company for the year ended 31 March 2024. Structure, Governance and Management Soroptimisl International Great Britain and Ireland ISIGBII Limited is a company limited by guarantee and not having a share capital (company number 070586661 and was registered as a charity in England and Wales Icharity number 11794331 on 2 August 2018. The governing document of the charity (Articles of Association) was last amended on 25 October 2019. The Trustees are elected by the Clubs within SIGBI Limited who are the company members. Objectives and Activities The Objects of the charitable company are.. lo promote either d1￿C￿Y or by the encouragement and support of others including Clubs.. the advancement of education", the advancement of health and saving lives., the relief andlor prevention of poverty., the advancement of good citizenship and community development", the advancement of human rights las set out in the Universal Declaration of Human Rights and subsequenuy United Nations and Declaralionsl throughout the world by all or any of the following means". relieving need among victims of human rights abuse., research into human rights redress, e.g. modern slavery", educating the public about human rights abuse, raising awareness of human rights issues and promoting support for human rights", the advaneement of equality and diversity", lo promote volunteering in furtheranee of the objects amongst individual Soroptimist Members of Clubs, for the benefit of the public across the wodd and in particular for the benefit of women and girls lo advanee their status, position and role in society where currently unequal or disadvantaged. Public Benefit The trustees confirm that they have Complied with the requirements of section 17 of the Charities Act 2011 10 have due regard to the public benefit guidanee published by the Charity Commission for England and Wales. Achievements and Perforniance The work of SIGBI Limited in furthering its objects and promoting volunteering is evidenced by the records of member Club activities on the database for the year. Soroptimists eall their project work 'Programme Action, and choose projeels that tackle our charitable objects and the United Nations IUNI Sustainable Development Goals ISDGSI. They can be Local, Regional or Intemational in nature, big or small. Programme Action activity has continued lo rise over the last year with 2,030 reports submilled onto our Hub database, these reports are aceessible to all members, and on average, they have been looked at 8 times by membets,17,455 views in total. Page 2 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Work is grouped round the 5 Ps and 17 SDGS as explained in the Annual ReFM)rt accompanying these accounts.. Advancement of education (Prosperity SDGS 7. 8. 9. 10, 11 and Education SDG 4) Providing women and gids with educational and upskilling opportunities improves prosperity and an increased quality of life. Clubs have tried to enhance career opportunities for young girlslwomen by providing girls with job interviews to gel them stsrted in their careers Clubs have organised a fundraising dinner lo support a crab cultivation project in a coastal area Clubs have collected books and distributed them lo provide ease of learning through reading as well as distributed bookmarks showing the differen￿ be￿een healthy and toxic relationships to increase awareness of such delicate yel important issues Vocational training has empowered several women by upskilling their tailoring skills Clubs have supported restaurants run by women by holding regular coffee meetings and speaker sessions there. In addition, SIGBI uses some of its reserves in microfinancing initiatives through Lendwithcare and Kiva. To date SIGBI has supported 312 women, investing approximately £14,000 lo help the women with their businesses and care responsibilities. Many clubs are also using some of their reserves to miCrofinan￿ in the same way. Advancement of health and saving lives (SDG 31 Clubs around the Federation have continued lo work lo improve the health and wellbeing of women and girfs. Making items for premature babies, care homes, fistula clinics, dementia suffers and those recovering from breast cancer Awareness campaigns on breast cancer, cervical cancer, ovarian Can￿r, women's wellness and urinary incontinence Organising events on menstrual hygiene and supplying period products to school girfs Volunteering within communities including in care homes and projects tackling loneliness Fundraising for a range of causes including those relating to breast cancer, bereaved mothers, neonatal baby care, hOSpi￿S, dementia, toilet twinning Advocacy on topics such as access lo dentistry ServI￿S and local pharmacies in the UK, and on changes lo FGM laws in Gambia Clubs partnered with NHS lo produce maslectomylbreast cancer surgery cushions. Awareness programmes including games and webinars for different health issues have been organised for schools, colleges and the public lo educate and empower them. Relief and/orprevention ofpoverty (SDG 1. SDG2. SDG 17) Work in this area often involves Partnership with other agencies. Moses baskets were provided lo mothers of newborn babies, including toiletries for mother and baby, nappies and specific items of clothing and blankets and other important ne￿$sItieS for the Iirsl 3-6 months of a baby's life. This was done in partnership with organisalions supporting new mothers needing extra help al an important juncture in their lives Clothing for children up lo 6 years were knitted and distributed to mothers in need Clubs partnered with organisalions lo offer help to victims escaping domestic abuse by providing clothing items to refugees who ran out of stock and needed more support Members have partnered with other organisalions and supported campaigns to end food poverty. Events included walking a 5 mile route lo raise awareness Hampers including non-perishable food items have also been donated lo needy families ballling food poverty, especially around Christmas Many Clubs support food banks by fundraising to buy food vouchers and collecting food donations from the community One-pol cookery classes were conducted for women in partnership with refuge ￿ntreS Page 3 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Members donate apples from their orchards lo homeless ￿ntres, providing fresh fruit to those in need, preventing waste, and saving fuel. Advancement of good citizenship and community development Many members undertake Good Citizen projects and these often revolve around the Planet SDGS 6, 12, 13, 14, 15. Climate change is a major threat to our planet, impacting ecosystems, economies & communities. Our members across SIGBI show how grassroots efforts can create positive change and promote caring for the environment. Members have been actively seeking ways to reduce landfill waste by collaborating with local groups for beach clean ups, monthly liller picking, selling pre-loved clothes, and distributing reusable menstrual pads .Our clubs are dedicated to raising local awareness and participating in environmental issues, including the Big Plastic Count by Greenpeace Across the Federation, Clubs continued to plant trees A Club educated school children on the negative effects of single-use plastics and promoted the principles of Reduce, Reuse, Recycle lo raise environmental awareness. Advancement ofhuman rights Human Rights work involves members actively trying to prevent violen￿ against Women and Girls, Trafficking and Modern Slavery. This work ties in with Peace SDG 16 and Gender Equality SDG 5. Training was organised for local communities lo raise awareness on different aspects of abuse and harassment Members raised funds for Ukraine which were sent through Sl clubs in Europe and other organisations engaged in relief work. Supplies sent included medical equipment, clothing, children's toys, food and sanitary items Assistance from Clubs for refugees who are starting a new life in UK in the form of clothing, toiletries, and starter kits One Club planted a virtual peace pole in Haiti lo bring awareness to the conflict and Violen￿ in that country. Additionally, a video on the topic of pea￿ and how Soroptimists can assist to bring some semblance of peace in the worfd was circulated on social media platforms Clubs across the Federation marked the 16 days of Activism in NoveMber1De￿Mber 2023 by engaging in activities lo light gender-based violence, domestic abuse and modern slavery. The campaign included lighting up public buildings in orange, social media and posters, and workshops lo educate girlslyoung women on the need to fight any kind of exploilalion or abuse Orange cafe events were organised by several clubs. Orange Day calls upon activists lo mobilise people and highlight issues relevant to preventing and ending violence against women and girls, not only once a year on 25 November, the International Day for the Elimination of Violence against Women, but on 25th every month Various clubs started petitions with local MPS and other authorities to advocate for a variety of humanitarian issues. of Advancement of equality and diversity One notable event was the observance of the International Day of Living Together in Peace. To commemorate this day, SIGBI emphasised the importance of understanding, tolerance, and respect among people from diverse backgrounds. They highlighted the need for inclusive spaces, non-violence and the rejection of hatred and discrimination lo foster pea￿ful coexisten￿. Soroptimisls regularfy write Blogs and lellers which advocate for women and girls, whatever their circumstances, often sharing situations when a diverse range of society are being treated in inequality or disparity. Page 4 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 To pmmote volunteering All clubs volunteer their lime, whether it is lo do hands on service or in their project work Vvhen collecting items lo gift lo women's organisalions such as the refuges, sourcing and gathering items packing them into nice gift bags and then delivering them can all take a considerable amount of lime Clubs also work with Partnership organisations and encourage them lo volunteer alongside our members. Financial Review A summary of the results for the year is given in the Statement of Financial Activities on page 9. At the year end the surplus was £94,933, a considerable increase on the 2023 surplus of £2,707 mainly due to the re￿Ipt of legacies and high interest rates resulting in an increase in interest received on term deposits. Membership decline in 2023-24 was approximately 40/0 though, On￿ again, the reduction in income for the charity was mitigated by an increase in membership fees. The balance of funds at the end of March 2024 was £657,411 12023. £562,478). The Board have decided to transfer the surplus for the year lo designated funds as follows.. PR and Communication Fund £50,000 - lo be used to promote SIGBI Limited's profile outside of the organisalion Reorganisalion Fund £25,000 - lo be used for the review and reorganisalion of SIGBI to ensure future viability Development Fund £25,000- lo be used lo fund Microfinance loans in future years. Reserves Policy The trustees have examined the requirement lo maintain free reserves and concluded that a reserve of approximately £300,000 should be maintained which equates to a year's worth of operating costs In addition, approximately £210,000 is currenuy reserved in designated reserves used to fvrther the charity, objectives as outlined in the accounts. The Trustees will from lime lo lime review the designated reserves lo ensure the charity continues to invest in ils future. As al 31 st March 2024 the total funds of the Charity were £657,411 12023.. £562,478) which are all unrestricted. After deducting fixed assets and intangible assets of £32,28312023.' £43,345), the free reserves of the charity lotalled £625,12812023. £519,133). Investment Policy The Trustees have considered the most appropriate investment policy for the Charity and only hold investments in a dormant subsidiary, an investment in Number 63 Isoroplimisll Limited and an investment portfolio with Flagstone. Plans for Future Period SIGBI Limited aims lo encourage member Clubs lo impact positively on the lives of women and girls through our programme and partnership work. Our vision is lo educate, empower and enable women and children, through awareness, advocacy and action. The Board will continue to work lo improve communications, both internal and external, lo capilalise on use of The Hub for informing and engaging members and to support ils membership to retain and recruit members going forward. Page 5 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND ISIGBII LIMITED {A Company limited by guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 small oompanies provision atatornont This r8POrt has been prepared In accor¢Jance wilh the smaii companies. regime under the Lompanies Act 2006. statement of Trustees. Responsibilltles The Trustees (who are also the directors of Soroplimisl International Great Britain & Ireland ISIGBII Limited for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial slalements in accordance with the United Kingdom Accounting Standards (United Kingdom Gtsnerally Accepted Accounting Practice) and applicable law and regulations. Company law requires tha Trusl88s lo prepare financial slalemènls for each financial year. Under company law the Trustees musl not approve the financial stslemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of its incomino rgsaiJrrp.4 And applir.%tinn nf rg.%niJrr.g.8 including its income and expenditure, for that period. In preparing these financial statements, the Trustees are r¥quired to- select suitable accounting policies and apply them consistently.. observe the rnelhods and principles in the Charities SORP.. make judgements and eslimales that are reasonable and prudent., slate whether applicable UK AoGouiiliiig Slandai"ds liave been lulluwed, bubj¥bl Iu cllly ITl¢il¥ricil departuros disclosed and explained in the financial statements., and prepare the financial slalements on the going concem basis unless il is inappropriate to pr&sLJme that thp rharil2hlp. rompAny will continiie in business. The Trustees are ressionsible for keeping adoquale accoutTrling recoids that are sufficlenl lo show and explain the charitable company's Iransaclions and disclose with reasonable accuracy al any lime the financial position of the charitable company and enable Iherll to ensure that the financial slalemenls comply with the Companles Act 2006 They are also responsiblo for gaf@guarding the assèts of the charitablo company and hgnco for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of TTuslees and signed on their behalf by: Chrlstlne Corless ITrusleel Dale.. loql Page 6 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of Soroptimist Intemational Great Britain and Ireland ISIGBI) Limited {'the Company'l I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and Basis of Report As the Trustees of the Company land its directors for the purposes of company lawl you are resFX)nsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Act'l. 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 the Company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the Company's gross income exceeded £250:000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of The Institute of Chartered AccoLJntants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection wth the examination giving me cause lo believe". aecounling records were not kept in respect of the Company as required by section 386 of the 2006 Act," or the awounls do not accord with those records., or the accounts do not comply with the accounting requirements of section 3￿ of the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which is not a maller considered as part of an independent examination,. or the accounts have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance wlh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have eome aeross no other matters in connection wth the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Page 7 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 This report is made solely lo the Company's Trustees, as a body, in accordance with Part 4 of the Charities IAccounls and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Company's Trustees those mallers l am required to slate lo them in an Independent examinerts report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a txjdy, for my work or for this report. Signed.. Dated.. 1910912024 Fiona Hawkins Bsc (Honsl Msc FCA James Cowper Kreslon Chartered A￿UntantS 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Page 8 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments other income 67,949 320,819 29,243 67,949 320,819 29,243 15,422 246,443 9,557 19,665 Total income 418,011 418,011 291,087 Expenditure on.. Charitable activities 323,078 323,078 288,380 Total expendlture 323,078 323,078 288,380 Net income 94,933 94,933 2,707 Net movement In funds 94,933 94,933 2,707 Reconciliation of funds: Total funds brought forward Net movement in funds 562,478 94,933 562,478 94,933 559,771 2,707 Total funds carried fonvard 657,411 657,411 562,478 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 10 24 form part of these financial statements. Page 9 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED {A company limited by guarantee) REGISTERED NUMBER: 07058666 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nol8 Fixod assols Intangible assets Tangible assets Investments 12 30,071 2,212 758,844 41,682 1,663 510,100 13 791,127 553,445 Currgnt assets stocks Debtors.. amounts falling due within one year Cash al bank and in hand 14 15 1,492 87,599 68.772 46,696 121,717 157,863 168.413 Credilors.. amounts falling due within one year 16 1291,5791 1159,3801 Nel current Ilabllities l ass8ts 1133.7161 9.033 Total net assets 657.411 562,478 Charity funds Unre5tricled funds 17 657,411 562.478 Total fund$ 857,411 562.47B The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. Tho mèmbérs have not required tho company to obtsin an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial ststemenls. The financial slalements have been prepared in accordance with the provisions applicable lo entitie5 subject to the small companies regime. The financial ststemenls were approved and aulhorised for issua by the Trustees and signed on their behalf by.. Christlne Corless (Trusleel Datc.. The notes on pages 11 10 24 ft)mi part of these financial statements. Page 10 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information The charitable company is limited by guarantee, incorporated in England and Wales, and cOnsequen￿Y does not have share capital. Each of the member clubs is liable lo contribute an amount not exceeding £1 towards the assets of the charitable company in the event of liquidation. The address of its registered office is 2nd Floor Beckwith House, 1 Wellinglon Road North, Stockport, Cheshire. SK4 1AF. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities." Statement of Recommended Pffictice applicable to charities preparing their aecounls in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Soroplimist International Great Britain and Ireland ISIGBII Limited meets the definition of a public benefit enb'ly under FRS 102. Assets and liabilities are initially recognised at historieal cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Income All income is recognised once the Company has enlitlemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The rec￿nitIon of income from legacies is dependent on establishing entidement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left lo them Ithrough knowledge of the existence of a valid wll and the death of the benefactor) and the executor is satisfied that the property in question will not be ￿qUired lo satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that il will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Company, can be reliably measured. Income lax recoverable in relation to investment income is recognised at the lime the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on complets'on of the service. 2.3 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to a third party, it is probable that a tonsfer of economic benefits will be required in selllemenl 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 lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity a￿ apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on diwtly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page11 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {continued) 2.3 Expenditure (continued} All expenditure is inclusive of irrecoverable VAT. 2.4 Intangible assets and amortisation Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accLJmulated impairment losses. Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a slraight-line basis over ils expected useful life. Amortisalion is provided on the following basis.. Computer soffvJare- website 20 0/0 Straight line 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at eost less aecumulaled depreciation and any aecumulated impairment losses. All costs incurred lo 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". Fixtures & equipment Computer equipment 250/0 straight line 200/0 straight line 2.6 Investments Fixed asset investment8 are a form of financial instrument and are initially rec￿niSed at their transaction cost and subsequently measured at fair value at the Balance sheet dale, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and piesented as 'GainsllLossesl on investments, in the Statement of Financial Activities. Investments in subsidiaries are valued al eost less provision for impairment. Other investments include amounts that are held in fixed term deposit bank accounts with a malurily dale being longer than 12 months. These are valued al cost less provision for impairment. Page12 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {continued) 2.7 Stocks Stocks are valued al the lower of cost and nel realisable valLJe after making due allowance for obsolete and slow-moving st(￿kS. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valLJed at the amoLJnt prepaid nel of any trade discounts due. 2.9 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments wth a short maturity of three months or less from the date of acquisition or opening of the deFX)Sit or similar account. 2.10 Liabilities Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement, and the amoLJnt of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to sellle the debt or the amount it has received as advanced payments for the goods or services it must provide. 2.11 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instrLJments are initially recognised at transaction value and subsequently measured at their selllement value wlh the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Pensions The Company operates a defined contribution pension scheme and the pension charge ￿preSentS the amounts payable by the Company to the fund in respect of the year. 2.13 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 Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the finaneial stalemenls. Investment income, gains and losses are allocated lo the appropriate fund. Page13 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income frorn donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Legacies Donations and Gift Aid 50,121 17,828 50,121 17,828 500 14,922 67,949 67,949 15,422 Income from Charitsble activities Unrestricted funds 2024 Totsl funds 2024 Total funds 2023 Membership Club website Online shop sales Conference income 235,733 7,400 8,116 69,570 235,733 7,400 8,116 69,570 238,603 7,840 320,819 320,819 246,443 Investment income Unreslrieted funds 2024 Total funds 2024 Total funds 2023 Interest received 29.243 29,243 9.557 Other Incomlng resources Unrestricted funds 2024 Total funds 2024 Total funds 2023 Recharges lo SIGBI Trading Ltd 19,665 Page 14 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other incoming resource$ {continuedl Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Membership Head Offi￿ costs Depreciation and amortisats'on Finance costs Other expenses Governance costs Stsff costs 69,364 38,828 15,236 2,958 13,142 7,801 10S,291 69,364 38,828 15,236 2,958 13,142 7,801 106,291 80,887 45,235 11,204 2,564 15,092 8,863 123,535 1,000 Donations Online shop costs conferen￿ expenses 10.088 59,370 10,088 59,370 323,078 323,078 288,380 Indepondent examiner's remunoration 2024 2023 Fees payable to the Company's independent examinerlauditor for the independent examinationlaudil of the Company's annual accounts 3,300 3,000 Stsff costs 2024 2023 Wages and salaries Social security costs Pension costs 99,144 4,945 2,202 115,651 5.517 2,367 106,291 123,535 Page15 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs (continued) The average number of persons employed by the Company during the year was as follows.. 2024 No. 2023 No. Staff No employee received remuneration amounting lo more than £60,000 in either year. 10. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits12023 - £NILI. During the year ended 31 March 2024, expenses tolalling £18,923 were reimbursed or paid directly to 8 Truslees12023 - £12,945 to 11 Trusleesl. The reimbursed costs related to travel and accomodalion. Page16 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Tangible fixed assets Fixtures and fillings Cost or valuation At 1 April 2023 Additions 58,869 1,325 At 31 March 2024 60,194 Depreciation At 1 April 2023 Charge for the year 57,206 776 At 31 March 2024 57,982 Net book value At 31 March 2024 2,212 At 31 March 2023 1,663 Page17 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Intangible assets Computer software Cost At l April 2023 Additions 70,380 2,850 At 31 March 2024 73,230 Amortisation At 1 April 2023 Charge for the year 28,698 14,461 At 31 March 2024 43,159 Not book value At 31 March 2024 30,071 At 31 March 2023 41.682 13. Fixed assel investments Investments in subsidiary companies Other investments Total Cost or valuatlon At 1 April 2023 Additions 510,099 510,100 1,356,098 1,356,098 11,107,354} 11,107,354) Disposals At 31 March 2024 758,843 758,844 Net book value At 31 March 2024 758,843 758,844 At 31 Mareh 2023 510,099 510,100 Page18 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Stocks 2024 2023 Finished goods and goods for resale 1,492 15. Debtors 2024 2023 Due within one year Trade detitors Other debtors Prepayments and accrued income 934 1,077 8.978 36,641 14,255 72,410 87,599 46,696 16. Creditors: amount$ falling due within one year 2024 2023 Trade creditors 1,337 260,110 8,864 5,984 15,284 20,552 116,685 4.219 4,075 13,849 Amounts owed lo group undertakings Other taxation and social security other creditors Accruals and deferred income 291,579 159,380 Page 20 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds Statement of funds- current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inloul Income Expenditure Unrestricted funds Designated funds Development fund Reorganisalion fund Sculpture fund Membership fund PR Fund Programme fund IT upgrade fund 18,838 30,000 4,591 10,000 10,000 10,000 40,500 15,549 25,000 34,387 51,568 3,214 10,000 60,000 10,000 40,500 13,4321 11,3771 50,000 123,929 14,8091 90,549 209,669 General funds General funds 438,549 418,011 1318,2691 190,5491 447,742 Total Unrestricted funds 562,478 418,011 1323,0781 657,411 Develo mentfund The fund is lo support the charitable objectives of SIGBI with grants and donations. Reor anisation fund The fund is to support any review and reorganisations of SIGBI to ensure viability of the Federation moving forward. Scul ture fund The fund is lo support the ongoing maintenance of the SIGBI plot al the National Memorial Arboretum. Membershi fund The fund is lo support the opening of new clubs and recrLJitment of members. PRfund The fund is lo support the development of SIGBI Ltd's profile. Pro ramme fund The fund is lo support project works across the Federation. ITU rade fun The fund is ft)r the upgrade of systems in the office including accounts, database and network onneclivity. It will support the creation of SIGBI'S new website. Page 21 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds Icontinuedl Statement of funds- prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inloul Income Expenditure Unrestricted funds Designated funds Development fund Cenlenial fund 18,838 1,745 30,000 5,399 10,000 10,000 10,000 40,500 18,838 11,7451 Reorganisalion fund Sculpture fund Membership fund PR Fund Programme fund IT upgrade fund 30,000 4,591 10,000 10,000 10,000 40,500 18081 126,482 18081 11,7451 123,929 General funds General funds 433,289 291,087 1287,5721 1,745 438,549 Total Unrestricted funds 559,771 291,087 1288,3801 562,478 18. Summary of funds Summary of funds- current year Balance at 31 March 2024 Balance al 1 April 2023 Transfers inloul Income Expenditure Designated funds General funds 123,929 438,549 14,8091 1318,2691 90,549 190,5491 209,669 447,742 418,011 562,478 418,011 1323,0781 657,411 Page 22 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Summary of funds Icontinuedl Summary of funds- prior year Balance at Transfers 31 March As inloul restated Balance at 1 April 2022 Income Expenditure Designated funds General funds 126,482 433,289 18081 1287,5721 11,7451 1,745 123,929 438,549 291,087 559,771 291,087 1288,3801 562,478 19. Analysis of net assets between funds Analysis of net assets between funds- current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Intangible fixed assets Fixed asset investments 2,212 30,071 758,844 157,863 {291,5791 2,212 30,071 758,844 157,863 1291,5791 Current assets Creditors due within one year Total 657,411 657,411 Analysis of net assets between funds- prior period Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year 1,663 41,682 510,100 168,413 {159,3801 1,663 41,682 510,100 168.413 1159,3801 Total 562,478 562,478 Page 23 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. 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 charity lo the fLJnd and in the year amounted to £2,202 12023.. £2,3671. £331 12023". £3371 was payable to the fund at the balance sheet date. 21. Related party transactions The charitable company owns 1000/0 of SIGBI Trading Limited. During the year salary and management charges were made of £Nil12023." £18,465) and £Nil12023.. £1,200) respectively. At the year end the balance owed to SIGBI Trading Limited is £260,110 12023.. £116,685) and is inclLJded in creditors at the year end. Each member of Soroptimist International Great Britain and Ireland ISIGBII Limited pays a membership fee which includes a levy on behalf of three charities detailed below. The charitable company collects levies, payable by the members, on behalf of Soroplimist International of Great Britain and Ireland Benevolent fund (Charity No". 2118401 and these amounts are paid directly to that charity. During the year the amounts received lotalled £10,453 12023.. £11,6721- At the year end £1,11312023". £1,730) was still lo be paid over. The charitable eompany collects levies, payable by the members, on behalf of Diamond Education Grant Icharity No." 11396681 and these amounts are paid directly to that charity. During the year the amounts reeeived tolalled £4,57212023". £5,310). Al the year end £1,18412023." £8441 was still to be paid over. The charitable company eollecls levies, payable by the members, on behalf of Soroplimist International of Great Britain and Ireland Emergency Relief Fund (Charity No." 2112311 and these amounts are paid directly lo that eharity. During the year the amounts received totalled £4,33612023". £6,554). At the year end £62812023. £1,164) was still lo be paid over. Page 24 Registered number: 07058666 Charity number- 1179433 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND (SIGBI) LIMITED (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company> its Trustees and advisers Trusto9s' rgport Independent examiner's report ststement of Flnanclal Actlvltleg Balance sheet 10 Notes to the financial statements 11-24 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Ruth Healey Dishi At￿ood Christine Corless lappoinled 5 November 20231 Giselle Davies Lindsay Green Gwynneth O'Rourke (appointed 4 November 20231 Catherine May Cottridge (resigned 4 November 20231 Anne Rogers Iresigned 11 March 20241 Company registered number 07058666 Charity registered number 1179433 Registered office 2nd Floor Beckwilh House 1 Wellington Road North Stockport Cheshire SK4 1AF Accountants James Cowper Kreston Chartered Accounlanls 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Bankers Nalwest Stockport Underbank Hall 10 Great Underbank Stockport Cheshire SK1 1LL Page 1 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are directors for the purposes of company law, present the annual report together wth the financial statements and independent examinerfs report of the charitable company for the year ended 31 March 2024. Structure, Governance and Management Soroptimisl International Great Britain and Ireland ISIGBII Limited is a company limited by guarantee and not having a share capital (company number 070586661 and was registered as a charity in England and Wales Icharity number 11794331 on 2 August 2018. The governing document of the charity (Articles of Association) was last amended on 25 October 2019. The Trustees are elected by the Clubs within SIGBI Limited who are the company members. Objectives and Activities The Objects of the charitable company are.. lo promote either d1￿C￿Y or by the encouragement and support of others including Clubs.. the advancement of education", the advancement of health and saving lives., the relief andlor prevention of poverty., the advancement of good citizenship and community development", the advancement of human rights las set out in the Universal Declaration of Human Rights and subsequenuy United Nations and Declaralionsl throughout the world by all or any of the following means". relieving need among victims of human rights abuse., research into human rights redress, e.g. modern slavery", educating the public about human rights abuse, raising awareness of human rights issues and promoting support for human rights", the advaneement of equality and diversity", lo promote volunteering in furtheranee of the objects amongst individual Soroptimist Members of Clubs, for the benefit of the public across the wodd and in particular for the benefit of women and girls lo advanee their status, position and role in society where currently unequal or disadvantaged. Public Benefit The trustees confirm that they have Complied with the requirements of section 17 of the Charities Act 2011 10 have due regard to the public benefit guidanee published by the Charity Commission for England and Wales. Achievements and Perforniance The work of SIGBI Limited in furthering its objects and promoting volunteering is evidenced by the records of member Club activities on the database for the year. Soroptimists eall their project work 'Programme Action, and choose projeels that tackle our charitable objects and the United Nations IUNI Sustainable Development Goals ISDGSI. They can be Local, Regional or Intemational in nature, big or small. Programme Action activity has continued lo rise over the last year with 2,030 reports submilled onto our Hub database, these reports are aceessible to all members, and on average, they have been looked at 8 times by membets,17,455 views in total. Page 2 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Work is grouped round the 5 Ps and 17 SDGS as explained in the Annual ReFM)rt accompanying these accounts.. Advancement of education (Prosperity SDGS 7. 8. 9. 10, 11 and Education SDG 4) Providing women and gids with educational and upskilling opportunities improves prosperity and an increased quality of life. Clubs have tried to enhance career opportunities for young girlslwomen by providing girls with job interviews to gel them stsrted in their careers Clubs have organised a fundraising dinner lo support a crab cultivation project in a coastal area Clubs have collected books and distributed them lo provide ease of learning through reading as well as distributed bookmarks showing the differen￿ be￿een healthy and toxic relationships to increase awareness of such delicate yel important issues Vocational training has empowered several women by upskilling their tailoring skills Clubs have supported restaurants run by women by holding regular coffee meetings and speaker sessions there. In addition, SIGBI uses some of its reserves in microfinancing initiatives through Lendwithcare and Kiva. To date SIGBI has supported 312 women, investing approximately £14,000 lo help the women with their businesses and care responsibilities. Many clubs are also using some of their reserves to miCrofinan￿ in the same way. Advancement of health and saving lives (SDG 31 Clubs around the Federation have continued lo work lo improve the health and wellbeing of women and girfs. Making items for premature babies, care homes, fistula clinics, dementia suffers and those recovering from breast cancer Awareness campaigns on breast cancer, cervical cancer, ovarian Can￿r, women's wellness and urinary incontinence Organising events on menstrual hygiene and supplying period products to school girfs Volunteering within communities including in care homes and projects tackling loneliness Fundraising for a range of causes including those relating to breast cancer, bereaved mothers, neonatal baby care, hOSpi￿S, dementia, toilet twinning Advocacy on topics such as access lo dentistry ServI￿S and local pharmacies in the UK, and on changes lo FGM laws in Gambia Clubs partnered with NHS lo produce maslectomylbreast cancer surgery cushions. Awareness programmes including games and webinars for different health issues have been organised for schools, colleges and the public lo educate and empower them. Relief and/orprevention ofpoverty (SDG 1. SDG2. SDG 17) Work in this area often involves Partnership with other agencies. Moses baskets were provided lo mothers of newborn babies, including toiletries for mother and baby, nappies and specific items of clothing and blankets and other important ne￿$sItieS for the Iirsl 3-6 months of a baby's life. This was done in partnership with organisalions supporting new mothers needing extra help al an important juncture in their lives Clothing for children up lo 6 years were knitted and distributed to mothers in need Clubs partnered with organisalions lo offer help to victims escaping domestic abuse by providing clothing items to refugees who ran out of stock and needed more support Members have partnered with other organisalions and supported campaigns to end food poverty. Events included walking a 5 mile route lo raise awareness Hampers including non-perishable food items have also been donated lo needy families ballling food poverty, especially around Christmas Many Clubs support food banks by fundraising to buy food vouchers and collecting food donations from the community One-pol cookery classes were conducted for women in partnership with refuge ￿ntreS Page 3 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Members donate apples from their orchards lo homeless ￿ntres, providing fresh fruit to those in need, preventing waste, and saving fuel. Advancement of good citizenship and community development Many members undertake Good Citizen projects and these often revolve around the Planet SDGS 6, 12, 13, 14, 15. Climate change is a major threat to our planet, impacting ecosystems, economies & communities. Our members across SIGBI show how grassroots efforts can create positive change and promote caring for the environment. Members have been actively seeking ways to reduce landfill waste by collaborating with local groups for beach clean ups, monthly liller picking, selling pre-loved clothes, and distributing reusable menstrual pads .Our clubs are dedicated to raising local awareness and participating in environmental issues, including the Big Plastic Count by Greenpeace Across the Federation, Clubs continued to plant trees A Club educated school children on the negative effects of single-use plastics and promoted the principles of Reduce, Reuse, Recycle lo raise environmental awareness. Advancement ofhuman rights Human Rights work involves members actively trying to prevent violen￿ against Women and Girls, Trafficking and Modern Slavery. This work ties in with Peace SDG 16 and Gender Equality SDG 5. Training was organised for local communities lo raise awareness on different aspects of abuse and harassment Members raised funds for Ukraine which were sent through Sl clubs in Europe and other organisations engaged in relief work. Supplies sent included medical equipment, clothing, children's toys, food and sanitary items Assistance from Clubs for refugees who are starting a new life in UK in the form of clothing, toiletries, and starter kits One Club planted a virtual peace pole in Haiti lo bring awareness to the conflict and Violen￿ in that country. Additionally, a video on the topic of pea￿ and how Soroptimists can assist to bring some semblance of peace in the worfd was circulated on social media platforms Clubs across the Federation marked the 16 days of Activism in NoveMber1De￿Mber 2023 by engaging in activities lo light gender-based violence, domestic abuse and modern slavery. The campaign included lighting up public buildings in orange, social media and posters, and workshops lo educate girlslyoung women on the need to fight any kind of exploilalion or abuse Orange cafe events were organised by several clubs. Orange Day calls upon activists lo mobilise people and highlight issues relevant to preventing and ending violence against women and girls, not only once a year on 25 November, the International Day for the Elimination of Violence against Women, but on 25th every month Various clubs started petitions with local MPS and other authorities to advocate for a variety of humanitarian issues. of Advancement of equality and diversity One notable event was the observance of the International Day of Living Together in Peace. To commemorate this day, SIGBI emphasised the importance of understanding, tolerance, and respect among people from diverse backgrounds. They highlighted the need for inclusive spaces, non-violence and the rejection of hatred and discrimination lo foster pea￿ful coexisten￿. Soroptimisls regularfy write Blogs and lellers which advocate for women and girls, whatever their circumstances, often sharing situations when a diverse range of society are being treated in inequality or disparity. Page 4 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 To pmmote volunteering All clubs volunteer their lime, whether it is lo do hands on service or in their project work Vvhen collecting items lo gift lo women's organisalions such as the refuges, sourcing and gathering items packing them into nice gift bags and then delivering them can all take a considerable amount of lime Clubs also work with Partnership organisations and encourage them lo volunteer alongside our members. Financial Review A summary of the results for the year is given in the Statement of Financial Activities on page 9. At the year end the surplus was £94,933, a considerable increase on the 2023 surplus of £2,707 mainly due to the re￿Ipt of legacies and high interest rates resulting in an increase in interest received on term deposits. Membership decline in 2023-24 was approximately 40/0 though, On￿ again, the reduction in income for the charity was mitigated by an increase in membership fees. The balance of funds at the end of March 2024 was £657,411 12023. £562,478). The Board have decided to transfer the surplus for the year lo designated funds as follows.. PR and Communication Fund £50,000 - lo be used to promote SIGBI Limited's profile outside of the organisalion Reorganisalion Fund £25,000 - lo be used for the review and reorganisalion of SIGBI to ensure future viability Development Fund £25,000- lo be used lo fund Microfinance loans in future years. Reserves Policy The trustees have examined the requirement lo maintain free reserves and concluded that a reserve of approximately £300,000 should be maintained which equates to a year's worth of operating costs In addition, approximately £210,000 is currenuy reserved in designated reserves used to fvrther the charity, objectives as outlined in the accounts. The Trustees will from lime lo lime review the designated reserves lo ensure the charity continues to invest in ils future. As al 31 st March 2024 the total funds of the Charity were £657,411 12023.. £562,478) which are all unrestricted. After deducting fixed assets and intangible assets of £32,28312023.' £43,345), the free reserves of the charity lotalled £625,12812023. £519,133). Investment Policy The Trustees have considered the most appropriate investment policy for the Charity and only hold investments in a dormant subsidiary, an investment in Number 63 Isoroplimisll Limited and an investment portfolio with Flagstone. Plans for Future Period SIGBI Limited aims lo encourage member Clubs lo impact positively on the lives of women and girls through our programme and partnership work. Our vision is lo educate, empower and enable women and children, through awareness, advocacy and action. The Board will continue to work lo improve communications, both internal and external, lo capilalise on use of The Hub for informing and engaging members and to support ils membership to retain and recruit members going forward. Page 5 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND ISIGBII LIMITED {A Company limited by guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 small oompanies provision atatornont This r8POrt has been prepared In accor¢Jance wilh the smaii companies. regime under the Lompanies Act 2006. statement of Trustees. Responsibilltles The Trustees (who are also the directors of Soroplimisl International Great Britain & Ireland ISIGBII Limited for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial slalements in accordance with the United Kingdom Accounting Standards (United Kingdom Gtsnerally Accepted Accounting Practice) and applicable law and regulations. Company law requires tha Trusl88s lo prepare financial slalemènls for each financial year. Under company law the Trustees musl not approve the financial stslemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of its incomino rgsaiJrrp.4 And applir.%tinn nf rg.%niJrr.g.8 including its income and expenditure, for that period. In preparing these financial statements, the Trustees are r¥quired to- select suitable accounting policies and apply them consistently.. observe the rnelhods and principles in the Charities SORP.. make judgements and eslimales that are reasonable and prudent., slate whether applicable UK AoGouiiliiig Slandai"ds liave been lulluwed, bubj¥bl Iu cllly ITl¢il¥ricil departuros disclosed and explained in the financial statements., and prepare the financial slalements on the going concem basis unless il is inappropriate to pr&sLJme that thp rharil2hlp. rompAny will continiie in business. The Trustees are ressionsible for keeping adoquale accoutTrling recoids that are sufficlenl lo show and explain the charitable company's Iransaclions and disclose with reasonable accuracy al any lime the financial position of the charitable company and enable Iherll to ensure that the financial slalemenls comply with the Companles Act 2006 They are also responsiblo for gaf@guarding the assèts of the charitablo company and hgnco for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of TTuslees and signed on their behalf by: Chrlstlne Corless ITrusleel Dale.. loql Page 6 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of Soroptimist Intemational Great Britain and Ireland ISIGBI) Limited {'the Company'l I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and Basis of Report As the Trustees of the Company land its directors for the purposes of company lawl you are resFX)nsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Act'l. 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 the Company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement Since the Company's gross income exceeded £250:000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of The Institute of Chartered AccoLJntants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection wth the examination giving me cause lo believe". aecounling records were not kept in respect of the Company as required by section 386 of the 2006 Act," or the awounls do not accord with those records., or the accounts do not comply with the accounting requirements of section 3￿ of the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which is not a maller considered as part of an independent examination,. or the accounts have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance wlh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have eome aeross no other matters in connection wth the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Page 7 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 This report is made solely lo the Company's Trustees, as a body, in accordance with Part 4 of the Charities IAccounls and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Company's Trustees those mallers l am required to slate lo them in an Independent examinerts report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a txjdy, for my work or for this report. Signed.. Dated.. 1910912024 Fiona Hawkins Bsc (Honsl Msc FCA James Cowper Kreslon Chartered A￿UntantS 2 Communications Road Greenham Business Park Greenham Newbury Berkshire RG19 6AB Page 8 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments other income 67,949 320,819 29,243 67,949 320,819 29,243 15,422 246,443 9,557 19,665 Total income 418,011 418,011 291,087 Expenditure on.. Charitable activities 323,078 323,078 288,380 Total expendlture 323,078 323,078 288,380 Net income 94,933 94,933 2,707 Net movement In funds 94,933 94,933 2,707 Reconciliation of funds: Total funds brought forward Net movement in funds 562,478 94,933 562,478 94,933 559,771 2,707 Total funds carried fonvard 657,411 657,411 562,478 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 10 24 form part of these financial statements. Page 9 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED {A company limited by guarantee) REGISTERED NUMBER: 07058666 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nol8 Fixod assols Intangible assets Tangible assets Investments 12 30,071 2,212 758,844 41,682 1,663 510,100 13 791,127 553,445 Currgnt assets stocks Debtors.. amounts falling due within one year Cash al bank and in hand 14 15 1,492 87,599 68.772 46,696 121,717 157,863 168.413 Credilors.. amounts falling due within one year 16 1291,5791 1159,3801 Nel current Ilabllities l ass8ts 1133.7161 9.033 Total net assets 657.411 562,478 Charity funds Unre5tricled funds 17 657,411 562.478 Total fund$ 857,411 562.47B The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. Tho mèmbérs have not required tho company to obtsin an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial ststemenls. The financial slalements have been prepared in accordance with the provisions applicable lo entitie5 subject to the small companies regime. The financial ststemenls were approved and aulhorised for issua by the Trustees and signed on their behalf by.. Christlne Corless (Trusleel Datc.. The notes on pages 11 10 24 ft)mi part of these financial statements. Page 10 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information The charitable company is limited by guarantee, incorporated in England and Wales, and cOnsequen￿Y does not have share capital. Each of the member clubs is liable lo contribute an amount not exceeding £1 towards the assets of the charitable company in the event of liquidation. The address of its registered office is 2nd Floor Beckwith House, 1 Wellinglon Road North, Stockport, Cheshire. SK4 1AF. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities." Statement of Recommended Pffictice applicable to charities preparing their aecounls in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Soroplimist International Great Britain and Ireland ISIGBII Limited meets the definition of a public benefit enb'ly under FRS 102. Assets and liabilities are initially recognised at historieal cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Income All income is recognised once the Company has enlitlemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The rec￿nitIon of income from legacies is dependent on establishing entidement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left lo them Ithrough knowledge of the existence of a valid wll and the death of the benefactor) and the executor is satisfied that the property in question will not be ￿qUired lo satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that il will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Company, can be reliably measured. Income lax recoverable in relation to investment income is recognised at the lime the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on complets'on of the service. 2.3 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to a third party, it is probable that a tonsfer of economic benefits will be required in selllemenl 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 lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity a￿ apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on diwtly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page11 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {continued) 2.3 Expenditure (continued} All expenditure is inclusive of irrecoverable VAT. 2.4 Intangible assets and amortisation Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accLJmulated impairment losses. Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a slraight-line basis over ils expected useful life. Amortisalion is provided on the following basis.. Computer soffvJare- website 20 0/0 Straight line 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at eost less aecumulaled depreciation and any aecumulated impairment losses. All costs incurred lo 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". Fixtures & equipment Computer equipment 250/0 straight line 200/0 straight line 2.6 Investments Fixed asset investment8 are a form of financial instrument and are initially rec￿niSed at their transaction cost and subsequently measured at fair value at the Balance sheet dale, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and piesented as 'GainsllLossesl on investments, in the Statement of Financial Activities. Investments in subsidiaries are valued al eost less provision for impairment. Other investments include amounts that are held in fixed term deposit bank accounts with a malurily dale being longer than 12 months. These are valued al cost less provision for impairment. Page12 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {continued) 2.7 Stocks Stocks are valued al the lower of cost and nel realisable valLJe after making due allowance for obsolete and slow-moving st(￿kS. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valLJed at the amoLJnt prepaid nel of any trade discounts due. 2.9 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments wth a short maturity of three months or less from the date of acquisition or opening of the deFX)Sit or similar account. 2.10 Liabilities Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement, and the amoLJnt of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to sellle the debt or the amount it has received as advanced payments for the goods or services it must provide. 2.11 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instrLJments are initially recognised at transaction value and subsequently measured at their selllement value wlh the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Pensions The Company operates a defined contribution pension scheme and the pension charge ￿preSentS the amounts payable by the Company to the fund in respect of the year. 2.13 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 Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the finaneial stalemenls. Investment income, gains and losses are allocated lo the appropriate fund. Page13 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income frorn donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Legacies Donations and Gift Aid 50,121 17,828 50,121 17,828 500 14,922 67,949 67,949 15,422 Income from Charitsble activities Unrestricted funds 2024 Totsl funds 2024 Total funds 2023 Membership Club website Online shop sales Conference income 235,733 7,400 8,116 69,570 235,733 7,400 8,116 69,570 238,603 7,840 320,819 320,819 246,443 Investment income Unreslrieted funds 2024 Total funds 2024 Total funds 2023 Interest received 29.243 29,243 9.557 Other Incomlng resources Unrestricted funds 2024 Total funds 2024 Total funds 2023 Recharges lo SIGBI Trading Ltd 19,665 Page 14 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other incoming resource$ {continuedl Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Membership Head Offi￿ costs Depreciation and amortisats'on Finance costs Other expenses Governance costs Stsff costs 69,364 38,828 15,236 2,958 13,142 7,801 10S,291 69,364 38,828 15,236 2,958 13,142 7,801 106,291 80,887 45,235 11,204 2,564 15,092 8,863 123,535 1,000 Donations Online shop costs conferen￿ expenses 10.088 59,370 10,088 59,370 323,078 323,078 288,380 Indepondent examiner's remunoration 2024 2023 Fees payable to the Company's independent examinerlauditor for the independent examinationlaudil of the Company's annual accounts 3,300 3,000 Stsff costs 2024 2023 Wages and salaries Social security costs Pension costs 99,144 4,945 2,202 115,651 5.517 2,367 106,291 123,535 Page15 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs (continued) The average number of persons employed by the Company during the year was as follows.. 2024 No. 2023 No. Staff No employee received remuneration amounting lo more than £60,000 in either year. 10. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefits12023 - £NILI. During the year ended 31 March 2024, expenses tolalling £18,923 were reimbursed or paid directly to 8 Truslees12023 - £12,945 to 11 Trusleesl. The reimbursed costs related to travel and accomodalion. Page16 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Tangible fixed assets Fixtures and fillings Cost or valuation At 1 April 2023 Additions 58,869 1,325 At 31 March 2024 60,194 Depreciation At 1 April 2023 Charge for the year 57,206 776 At 31 March 2024 57,982 Net book value At 31 March 2024 2,212 At 31 March 2023 1,663 Page17 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Intangible assets Computer software Cost At l April 2023 Additions 70,380 2,850 At 31 March 2024 73,230 Amortisation At 1 April 2023 Charge for the year 28,698 14,461 At 31 March 2024 43,159 Not book value At 31 March 2024 30,071 At 31 March 2023 41.682 13. Fixed assel investments Investments in subsidiary companies Other investments Total Cost or valuatlon At 1 April 2023 Additions 510,099 510,100 1,356,098 1,356,098 11,107,354} 11,107,354) Disposals At 31 March 2024 758,843 758,844 Net book value At 31 March 2024 758,843 758,844 At 31 Mareh 2023 510,099 510,100 Page18 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Stocks 2024 2023 Finished goods and goods for resale 1,492 15. Debtors 2024 2023 Due within one year Trade detitors Other debtors Prepayments and accrued income 934 1,077 8.978 36,641 14,255 72,410 87,599 46,696 16. Creditors: amount$ falling due within one year 2024 2023 Trade creditors 1,337 260,110 8,864 5,984 15,284 20,552 116,685 4.219 4,075 13,849 Amounts owed lo group undertakings Other taxation and social security other creditors Accruals and deferred income 291,579 159,380 Page 20 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds Statement of funds- current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inloul Income Expenditure Unrestricted funds Designated funds Development fund Reorganisalion fund Sculpture fund Membership fund PR Fund Programme fund IT upgrade fund 18,838 30,000 4,591 10,000 10,000 10,000 40,500 15,549 25,000 34,387 51,568 3,214 10,000 60,000 10,000 40,500 13,4321 11,3771 50,000 123,929 14,8091 90,549 209,669 General funds General funds 438,549 418,011 1318,2691 190,5491 447,742 Total Unrestricted funds 562,478 418,011 1323,0781 657,411 Develo mentfund The fund is lo support the charitable objectives of SIGBI with grants and donations. Reor anisation fund The fund is to support any review and reorganisations of SIGBI to ensure viability of the Federation moving forward. Scul ture fund The fund is lo support the ongoing maintenance of the SIGBI plot al the National Memorial Arboretum. Membershi fund The fund is lo support the opening of new clubs and recrLJitment of members. PRfund The fund is lo support the development of SIGBI Ltd's profile. Pro ramme fund The fund is lo support project works across the Federation. ITU rade fun The fund is ft)r the upgrade of systems in the office including accounts, database and network onneclivity. It will support the creation of SIGBI'S new website. Page 21 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds Icontinuedl Statement of funds- prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inloul Income Expenditure Unrestricted funds Designated funds Development fund Cenlenial fund 18,838 1,745 30,000 5,399 10,000 10,000 10,000 40,500 18,838 11,7451 Reorganisalion fund Sculpture fund Membership fund PR Fund Programme fund IT upgrade fund 30,000 4,591 10,000 10,000 10,000 40,500 18081 126,482 18081 11,7451 123,929 General funds General funds 433,289 291,087 1287,5721 1,745 438,549 Total Unrestricted funds 559,771 291,087 1288,3801 562,478 18. Summary of funds Summary of funds- current year Balance at 31 March 2024 Balance al 1 April 2023 Transfers inloul Income Expenditure Designated funds General funds 123,929 438,549 14,8091 1318,2691 90,549 190,5491 209,669 447,742 418,011 562,478 418,011 1323,0781 657,411 Page 22 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Summary of funds Icontinuedl Summary of funds- prior year Balance at Transfers 31 March As inloul restated Balance at 1 April 2022 Income Expenditure Designated funds General funds 126,482 433,289 18081 1287,5721 11,7451 1,745 123,929 438,549 291,087 559,771 291,087 1288,3801 562,478 19. Analysis of net assets between funds Analysis of net assets between funds- current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Intangible fixed assets Fixed asset investments 2,212 30,071 758,844 157,863 {291,5791 2,212 30,071 758,844 157,863 1291,5791 Current assets Creditors due within one year Total 657,411 657,411 Analysis of net assets between funds- prior period Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year 1,663 41,682 510,100 168,413 {159,3801 1,663 41,682 510,100 168.413 1159,3801 Total 562,478 562,478 Page 23 SOROPTIMIST INTERNATIONAL GREAT BRITAIN AND IRELAND {SIGBII LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. 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 charity lo the fLJnd and in the year amounted to £2,202 12023.. £2,3671. £331 12023". £3371 was payable to the fund at the balance sheet date. 21. Related party transactions The charitable company owns 1000/0 of SIGBI Trading Limited. During the year salary and management charges were made of £Nil12023." £18,465) and £Nil12023.. £1,200) respectively. At the year end the balance owed to SIGBI Trading Limited is £260,110 12023.. £116,685) and is inclLJded in creditors at the year end. Each member of Soroptimist International Great Britain and Ireland ISIGBII Limited pays a membership fee which includes a levy on behalf of three charities detailed below. The charitable company collects levies, payable by the members, on behalf of Soroplimist International of Great Britain and Ireland Benevolent fund (Charity No". 2118401 and these amounts are paid directly to that charity. During the year the amounts received lotalled £10,453 12023.. £11,6721- At the year end £1,11312023". £1,730) was still lo be paid over. The charitable eompany collects levies, payable by the members, on behalf of Diamond Education Grant Icharity No." 11396681 and these amounts are paid directly to that charity. During the year the amounts reeeived tolalled £4,57212023". £5,310). Al the year end £1,18412023." £8441 was still to be paid over. The charitable company eollecls levies, payable by the members, on behalf of Soroplimist International of Great Britain and Ireland Emergency Relief Fund (Charity No." 2112311 and these amounts are paid directly lo that eharity. During the year the amounts received totalled £4,33612023". £6,554). At the year end £62812023. £1,164) was still lo be paid over. Page 24