2022-12-31-accounts

Trustees			J F Rowse (Chair ofthe	J F Rowse (Chair ofthe	J F Rowse (Chair ofthe	Board)	Board)
			D Emerson		(Independent		Member)
			TGriffiths	(Lay Member)
			D M Holland		(CSEU Member)
			A J McDiarmid (CSEU Member)
			D SMcPhee		(Lay Member)
			H Scullion	(Subscriber)
			CStevenson		(Lay Member)
			M Roberts	(CSEU Member)					(Appointed	1January 2023)
			M Khan (Lay Member)						(Appointed	1January 2023)
			D Bradbury		(Lay Member)				(Appointed	1January 2023)
External Relations Director			I Waddell
Executive	Director		K Goddard
Finance and Administration		Manager	N Ojike
Charity number			1179847
Company	number		11145243
Registered	office		10Salamanca Place
			Vauxhall
			London
			SE17HB
Auditor			HW Fisher	LLP
			Acre House
			11-15William Road
			London
			NW1 3ER
Bankers			Unity Trust		Bank Pic
			Four Brindleyplace
			Birmingham
			B12J8
Legal advisors			Bates Wells
			10Queen Street Place
			London
			EC4R 1BE
Investment	advisors		Rathbones		Investment	Management		Ltd
			8 Finsbury	Circus
			Finsbury
			London
			EC2M 7AZ

			Page
Trustees' report			1-6
Statement of	Trustees'	responsibilities
Independent	auditor's	report
Statement of	financial	activities
Balance sheet			12
Statement of	cash flows		13
Notes to the financial		statements	14-22

The Trustees, who are also the directors for the purpose	The Trustees, who are also the directors for the purpose	ofcompany	law, and who served during the year and up to the date of
signature ofthe financial statements	were:
J F Rowse (Chair ofthe Board)
D Emerson (Independent Member)
TGriffiths (Lay Member)
SG Hibbert (Lay Member)		(Resigned	31December 2022)
D M Holland (CSEU Member)
R A Holmes (Lay Member)		(Resigned	31December 2022)
A J McDiarmid (CSEU Member)
D S McPhee (Lay Member)
H Scullion (Subscriber)
CStevenson (Lay Member)
R Murdoch (CSEU Member)		(Resigned	4 March 2022)
M Roberts (CSEU Member)		(Appointed	1January 2023)
M Khan (Lay Member)		(Appointed	1January 2023)
D Bradbury (Lay Member)		(Appointed	1January 2023)

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2022	2022	2022	2021	2021	2021
			Notes	f'000s	F.'000s	f'000s	f'000s	F.'000s	f'000s
Income from:
Investments				254	172	426	228	149	377
~Ee Chtu ra:
Raising funds				55	30	85	50	30	80
Charitable activities				667	24	691	515	34	549
Total resources	expended			722	54	776	565		629
Net (losses)/gains		on
investments			10	(1,004)	(413)	(1,417)	1,279	4,013	5,292
Net (outgoing)/incoming
resources before		transfers		(1,472)	(295)	(1,767)	942	4,098	5,040
Gross transfers	between
funds			15				353	(353)
Net movement	in	funds		(1,472)	(295)	(1,767)	1,295	3,745	5,040
Fund balances	at	1January
2022				11,648	11,908	23,556	10,353	8,163	18,516
Fund balances	at	31
December 2022				10,176	11,613	21,789	11,648	11,908	23,556

					2022		2021
				Notes	f'000s	f'000s	E'000s	E'000s
Fixed assets
Investments						21,207		22,711
Current assets
Debtors					5		11
Cash at bank	and	in	hand		751		971
					756		982
Creditors: amounts			falling due within one year	14	(174)		(137)
Net current	assets					582		845
Total assets	less current liabilities					21,789		23,556
Income funds
Restricted funds				15		11,613		11,908
Unrestricted	funds					10,176		11,648
						21,789		23,556

				2022		2021
			Notes	f'000s	E'000s	E'000s	f'000s
Cash flows from operating activities
Cash absorbed by operations			18		(648)		(626)
Investing activities
Cash withdrawn from portfolio				347		1,155
Investment income received				81		68
Net cash generated from investing	activities				428		1,223
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents					(220)		597
Cash and cash equivalents at beginning		ofyear			971		374
Cash and cash equivalents at end ofyear					751		971

3	Investments
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2022	2022	2022	2021	2021	2021
			f'000s	f'000s	f'000s	f'000s	f'000s	f'000s
	Investment	income	243	168	411	228	149	377
	Interest receivable		11	4	15
			254	172	426	228	149	377
4	Raising funds
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2022	2022	2022	2021	2021	2021
			f'000s	f'000s	6'000s	f'000s	f'000s	f'000s
	Investment	management
	fees		55	30	85	50	30	80
			55	30	85	50	30	80

	2022	2021
	f'000s	f'000s
Grant funding ofactivities (see note 6)	353	240
Support costs (see note 7)	301	276
Governance costs (see note 7)	37	33
	691	549
Analysis by fund
Unrestricted funds	667	515
Restricted funds	24	34
	691	549

Grants payable
							2022	2021
							6'000s	E'000s
Grants to institutions:
Communit rants
North West Hazard Trust								10
Salford Unemployed	and		Community			Resource Centre		10
Southampton Advice	Representation					Centre (SARC)	10	10
Derbyshire Unemployed			Workers Centre (DUWC)					10
The Really Amazing Charity				TRAC				10
Newhill Youth &Community				Association				10
Plymouth VCSE (POP)								10
West View Advice &	Resource Centre							10
Argyle Community Trust							9
Blood Bikes Wales							10
Dracena Centre							10
Devon Community Foundation					(DCF)		10
Fairfield Community	Sports			Hub			10
If U Care Share							5
In this Together							10
Kids In Action							10
Mind in Furness							9
People's Kitchen Belfast							10
Playlist for life							10
Working Class Movement			Library				10
~aeaea ch a ta
Breathe Safe Project
Institute for Public Policy			Research				15	17
Social Enterprise UK								18
Institute of Employment			Rights				20	10
Unions21							15	15
CLASS								15
Common Wealth								20
FairShare T/A ShareAction								10
Autonomy							32	15
Cleaners Unite							13
The Equality Trust							16
Fabian Society							15
Institute for the Future		ofWork					15
Jimmy Reid Foundation							14
Pensions & Investment		Research Consultants					30
Progressive Economy	Forum						10
Other							35	29
							353	240

Support	c	osts
			Support costs	Governance	2022	Support costs	Governance	2021
				costs			costs
			f'000s	6'000s	6'000s	f'000s	F.'000s	6'000s
Personnel		costs	221		221	193		193
Travel and		subsistence	1		1	2		2
Occupancy		costs	19		19	23		23
Legal and	professional		30		30	32		32
Premises	costs		19		19	19		19
HR costs			8		8	6		6
Meeting costs			3		3	1		1
Audit fees				29	29		27	27
Non - audit fees				8	8		6	6
			301	37	338	276	33	309
Analysed	between
Charitable		activities	301	37	338	276	33	309

		2022	2021
		Number	Number
Personnel	costs	2022	2021
		6'000s	f'000s
Wages and	salaries	191	178
Freelance	costs	11
Socia I security costs		14	12
Other pension costs		17	14
Recharges		(12)	(11)
		221	193

The number	ofem	ployees whose	annual remunera	tion was f60,00	0or more wer	e:
							2022	2021
							Number	Number
f70,001-f80,000
f80,001-f90,000
Net (losses)/gains		on investments
			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2022	2022	2022	2021	2021	2021
			f'000s	f'000s	f'000s	f'000s	f'000s	f'000s
Revaluation	ofinvestments		(759)	(305)	(1,064)	820	3,845	4,665
(Loss)/gain	on sale	of
investments			(245)	(108)	(353)	459	168	627
			(1,004)	(413)	(1,417)	1,279	4,013	5,292

10	f70,001-f80,000 f80,001-f90,000 Net (losses)/gains on investments

		Listed	Unlisted	Cash in portfolio	Total
		investments	investments
		6'000s	f'000s	f'000s	f'000s
Cost or valuation
At 1January 2022		15,161	7,286	264	22,711
Additions		2,520		(2,520)
Valuation changes		(1,064)			(1,064)
Investment management	fees			(82)	(82)
Cash withdrawn				(350)	(350)
Dividends received				334	334
Interest recevied				11	11
Disposals		(3,281)		2,928	(353)
At 31December 2022		13,336	7,286	585	21,207
Carrying amount
At 31December 2022		13,336	7,286	585	21,207
At 31December 2021		15,161	7,286	264	22,711

12	Financial instruments	Financial instruments				2022	2021
						f'000s	f'000s
	Carrying amount of		financial assets
	Instruments	measured		at fair value through	profit or loss	13,336	15,161
13	Debtors
						2022	2021
	Amounts falling due		within one year:			f'000s	f'000s
	Prepayments	and accrued income
14	Creditors: amounts		falling due within one		year
						2022	2021
						f'000s	f'000s
	Other creditors					136	86
	Accruals and	deferred		income		38	51
						174	137

Analysis of	net assets betwe	en funds
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2022	2022	2022	2021	2021	2021
		E'000s	E'000s	E'000s	E'000s	f'000s	E'000s
Fund balances at 31
December	2022 are
represented	by:
Investments		9,894	11,313	21,207	11,036	11,675	22,711
Current assets/(liabilities)		282	300	582	612	233	845
		10,176	11,613	21,789	11,648	11,908	23,556

Cash generated from operations	Cash generated from operations	Cash generated from operations		2022	2021
				E'000s	E'000s
(Deficit)/surpus for	the year			(1,767)	5,040
Adjustments for:
Investment income	recognised	in statement	offinancial activities	(426)	(377)
Loss/(gain) on disposal ofinvestments				353	(627)
Fair value gains and	losses on investments			1,064	(4,665)
Investment management fees				85	80
Movements in working capital:
Decrease/(increase)	in debtors			6	(1)
Increase/(decrease)	in creditors			37	(76)
Cash absorbed by operations				(648)	(626)
Analysis ofchanges	in net funds
The charity had no	debt during	the year.