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|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||||||||
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||||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|
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|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)|
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|||||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|
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||||||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|
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|||||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|
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|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|
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|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|
##
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|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|
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|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|
|---|---|
##
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|||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|
##
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##
|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.||||