REGISTERED COMPANY NUMBER: 11717349 IEngland and Wale81
REGISTEREO CHARITY NUMBER: 1184327
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
OPEN FOR BUSINESS LIMITED

D4cusl9n E*velape ID.. 765700D6.7B69405F-9E274FgC1FCFC1CB
QPEN FOR BUSINES8 LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Page
Letter from Ihe Chalr
Report of the Trustees
3 10 10
Report of the Independent Audltors
11 lo 13
Statement of Flnanclal Acllvltiès
14
Balanee Shoèt
15 to 16
Cash Flow Statement
17
Notes to the Cash Flow Stat•mant
18
Notes to the FSnanGlal Statempnts
19 to 28

Docus￿n Envelop8 ID.. 7657Wts6-7B89405É.9E2F4F9C1FCFC1C8
OPEN FOR BiISINESS Lif&41fED
LETTER FROM THE CHAIR
FOR THE YEAR ENDED 31 DECEMBER 2023
Slnce OUT incepllon In 2016 Open For Busln&s$ has boon at the forefror>l ol economic r8POrting on the
htjman rights of LGBTQ+ peoplé. We ale the only non-prolil coalttlon of global buslnèss8s Ih8t exists to
promote LGBTQ+ rights in society and have been instrumental in activating business as a voice for Change,
Particularly in conlexls that are extremely challenging for LGBTQ+ people.
2023 has brought a mixed plclure for LGBTQ+ rights globally. Following the penal code review in 2007.
Singapore Tepeal8d Section 3778, the Brltlsh colonial law that crimln81ised same-sex relationshlps bètWe8n
cansenting adult men. Similarly in Maurilius, the Supreme Court rendered a decision In favour of
decriminalisalion. along w￿th The Cook Islands 8nd V8nexu8Lo. Andorra, Eslonla, Nopal, and Slovenia joined
the list of countries where it Is now ptsssibie for same-sex couples to get married., and Llech18nsleiTr, Estonia
and Ta￿an passed leoislation enabling same-sex couples to adopt children.
Al the same lime. a wave of 8nll-LGBTQ+ ￿gIslatIon in East Africa has had severe consequences for
LG8TQ+ Ugandans, as Uganda have joined the list of countries imposing Ihe death penatty for consensual
same.s8% acts. Ghana h85 proposed a law that W￿ld crimlnalisé th8 idenlificatlon of bring LGBTQIA. going
beyond criminalising sex acts- and across North Amerlca, Souih America and Europe Iher8 havÈ b8Èn a
larg8 numbÈr of proposed bills aim8d 81 dlsenfranchising Ihe trans communlty.
Af a time ol global change for the community, Ihe efforts of Open for Buslness have never been more
necessarily or urgent. The business commun5ly has been asking what their role is in supporting the LG8TQ+
community b(Ah ingld8 th8ir business and in tha 8r8as In wkl8r soctÈty, and we have be8n Ih8rè to answer.
This year our work has supported dv51 society In Uganda. as we produced a brief on the economi
challenges the Anli-Homosexu81ity-Acl will ¢ièale 11 enacted. Our Caribbean progT8mmè have dellv6red th8
first LGBTQ+ Tourism ¢onfereneÈ on Barbados, and our Central and Eastern Europaan prcYJr8mme has
made the &gse for Induslon al some of th6 most hlgh-profll8 events in thè r8glon.
We have welcomed HSBC and BlackRock into our coalillon, and BlackRock have pledged 10 8UPPOrt new
Eeonomlc Chs& work In Serbla and Hungary next year.
Our organisa140nal Income rose by more than 20°/0 this year 85 we Increased funding from our coalition and
the FCDO has pledged lo support our East Africa programme in our prop08ed expansion lo Uganda.
Rwand8 and Tanzania, with funding to underpin the programme for live years.
To ensu￿ we have the capacity lo oleliver impactful prog¥ammes. we have recruited a new Director of Global
Progr$mmas, Liz Jacobs, who will be l¢adlng on our existing programmes and also launching our newesl
prowarnme In South8881 Asia.
It has nevor be¢n more important for businesses to lake a Clear position on the human ri9hls of LGBTQ+
people. Over the past ytsar we have seen how powerful il is when buslness adds their vol¢e Its the discussion
of human rights in support of the LGBTQ+ community, particularly in places Whe￿ their daily existence is
being Challenged.
Ov8r the next yoar we will continue lo ènsure thal buslness plays al Activa role in supporting the human
rights of LGBTQ+ pgople overywhere. We wlll strengthen our Impact and evaluation procasges an¢J develop
new rèports focused on The Economic Case for Induslon in East Alrica, Southeast Asia and Central Europe.
We sland by our commilTnent to work with catnp8i9ners, aclivists and civil socigly l$adeTS globally to ensure
that the business community supports their efforts and lo ensure our work around the world is led by their
prioriiie5 and expertise.
Pbge I

t￿￿SIgn Envèlwlo.. 7657D006-7B89405E-9E274FgC1FCFC1C8
OPEN FOR BUSINESS LIMITED
LETTER FROMTHE CHAIR
FOR THE YEAR ENDED 31 DECEMBER 2023
We are hugely grateful for the support of our coalitiOTI members, our TTLTrsls, foundation and our donoTS, and
plodge to ¢onllnu¢ and expand our work over the next year to ensuro that morg people thon ever before wlll
benefit from the economic case for LGBTQ+ inclusSon 8nd the busine55 voice In support of LG8TQ+ rights
will be further united.
3FF￿l￿E128A1s￿.
Jon IKlller
Founder and Chalr
Page 2

DOCU￿9￿ Envelops ID.. 7657DOD6.7889405E.gE274F9C1FCFC1C6
OPEN FOR BUSINESS LÉMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
The lluslees who are also dlreclors of the chÈrltabl8 company for Ihe purposes of Ihts Companltrs Act 2006,
present thelr report with the financial stslemen18 of the ch8ri18ble company for the yea¥ 8nded
31 December 2023. The trustees h8ve adopted the provisiDns ol Accounling and R8porting by Charilie5'.
Statement ol Recommended Practice applicable to tharities preparihg their accounts in accordance with the
Flnancial Reportlng Standard applicable in the UK and Republlc ol Ireland IFRS 1021.
OBJECTIVES AND ACTIVITIES
The obj8clives of the charitable company are, for the public ben8fil, the promotion ol equality aTvJ diversity
Ihroughoul the world by..
the eliminab'on of discriminalior) on the grounds of gender or sexual orlenlalion, especialty within
business and commerce.
advancing 8du¢alK)n and ralging awarenass in equallly and diversity.
conducling or commissioning reseaich on equality and diversity issues relating to LGBT+ people
and publishing the results to Ihe public, and
cullivaling a senlimenl in favour of equality and diversity.
Our Strategy
Con8lruGt and promo18 the econornic and business case for LGBT+ inclusion.
Catalys¢ a coherent voice on LGBT+ inclusion Irom the global busSness communily.
Create local neiworks of senior business leaders lo advance LGBT+ inclusim.
Our Coalition Partners
Op&n For 8usin6ss Is a coalition of olobal ¢￿￿panIeS t8klng Bction for more LGBTQ+ inclusive socletles. At
the start of 2023, our eoalition partners wr$ ABB Lld, Aceanlure. AmÈTican Expréss, AT&T. BD, Boslon
Consulting Group. Brunswick, Burberry. Deloitte. Deulsche Bank, Dlag80. DLA Plper, Dow Inc., EY. Gooyle.
GSK, Herbert SmSlh Freehills. IBM, IKEA. Inditex, JP Morgan Chase. KÈarney, KPMG, The Lego Group.
LSnkedln, Linklalers, L'oréal. Mastercard, McKlnsey & Co. Mela. Microsoft. PWC. RELX. Siandard Chartered.
Thoms0Th Reuters, UDil$ver, Virgin and Wgblec CoTpor81ion.
In addition, in 2023 we welcomad ihe following new coalition partners.. Blackrock and HSBC.
Fundlng Partn8r8
Alongside our coalition partn8rn, wo are esp8ci8lly giaielul for the genèrous support of indlvidual donors Lori
Dobeus. Jon Mi118r. Nelanya Clixby and George Perlov. We are also grateful 10 Ihe following organisalions.
who hav8 provlded essen14al svpport for our core operations as well as funding for oui progrèmmes.. Thts UK
Foreign, Commonwealth & Dèvèlopment Office, The British Embassy in Warsaw, Drèilinden, Natttsnal
Westminster Bank, Oak Foundah'on, and Tides.
Our Programme8
Taking an aclion-oriented, programmatic approach lo advancing LGBT* Incluslon, our woth cenlres on Ihree
Core programs that mirror our strategy..
Research ￿OgraM
We Ggntinuously work wllh coalition pertners to develop new rosearch lo strenglhen Ihe ￿lden￿ base.
Global Influencer Program
We tss8 our research to inject tho èconomic e48e for LGBT4 Inclusion on hlgh profile platfom8 and
org3nizalion5.
Local Influencer Program
Leveraging Ihe momentum from these global conversalions. we work in prlority regK)ns lo build
advocacy nefv40rks of senior executives.
Page 3

OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
Publlc beneflt
We have referred to the guidance contained in Ihe charitable company Commission's general guidance on
public benefit when reviewing our objectives and in planning our future aclivilies. In particular, the trustees
consider how planned activities will contribute lo the aims and objects'ves they have sel,
STRATEGIC REPORT
A¢hievement and performance
The highlights of 2023 were..
stren
thenln
the Coalition
In 2023 HSBC and BlackRock both joined the Open for Business coalition. BlackRock has already pledged
lo support a new piece of research in Serbia and Hungary.
East Africa
Kenya..
In 2023 Open For Business has been actlvely Involved In the OPFX)sillon to the Family Protection Bill, a bill
proposed that would result in the further criminalisation of LGBTQ+ people in Kenya and threaten up lo 50
years in prison for same sex intimacy. We have worked in coalition with other NGOS both in Kenya and
internationally lo ensure we are 5UPPOrting civil society efforts lo oppose the bill.
We worked closely with mullinalionals. SMES, human rights organizatiorks, and diplomatic bodies in Kenya,
lo amplify our research on the economic Gosls of LGBTQ+ discrimination.
In May, we hosted a week of roundtables across the country, serving a5 an opportunity for diverse actors lo
discuss the challenges faced by LGBTQ4 communities, and the importance of the business case lor
inclusion in Kenya. These meetings proved incredibly fruitful at both bolslering our existing nelworks, and
securing support from new businesses entering th8 Open For Business movement. Throughout the year, we
have steadily built support for our Nairobi Declaration a commitment among Kenyan businesse5 to greater
workplace and LGBTQ+ inclij5ion - which has lo date obtained 38 5ignalorie5.
Uganda..
In March 2023, Uganda's parliament passed one of the most severe anll-LGBTQ+ pieces of legislatSon ever
seen. In response. Open For Business worked swiftly wlth local partners and he UK and US forelgn
ministries, to deliver a private letter to Uganda's President Yoweri Museveni, urging him to block Ihe bill. In
parallel, we mobilised our global coalition and published the 'Business Statement on the Anti-Homosexuality
Bill of Uganda,. This statement received ardent support from our coalition partners and many other
international businesses and was widely published in Kenyan and international press.
Alongside this, we worked closely with the Kampala-based advocacy group HRAPF to deliver an Amicus
brief lo the Ugandan courts, providing evidence of the direct effects of the Bill on several companies,
business operations. Although ultimately unsu¢Gessful, Open For Business, work was hailed by local
partnèrs as a powerful leslament lo the solidarity that LGBTQ+ movements around the world will increasingly
receive from international business alltes.
Page 4

Docusign Envelapo ID." 76570006-7889405E4E274F9C1FCFC1ce
OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2D23
Central and Eastern Euro
Poland..
Al Ihe start of 2023 Open for Busin&s5 worked VAth 30 Polish business leaders, who published stalengnls in
Forbes Magazine publicly committed themselves to grealer LGBTQ+ inclusion, as part of a carnpaign
developed by Open For Buslness. Campaign AgBinst Homophobia and Forbes Poland.
In June, we brought together 200 ronowned economists, business leaders, LGBTQ+ aclivi%ts, and
govemment aclofs at the LGBT+ Diamonds Forurn in Poland. Al th8 ev8nl, w8 published 'The 2023 LGBTQ+
Inclusion Bu5ine55 Primer- Pol8nd', equlpplng kncal business leaders with new data on the costs ol LGBTQ+
discrimination, ahead ollhe country's parll3menl8ry elecllons held In October.
Throughout the year. we worked hard lo tour Ihis message al C.8UItE roundtsblès, research semirTr8rs, and
business conferences around lh8 counlry- IneludSng at thè 32nd Karpacz Economic Forum.
Slovakia..
Following the rnurdei ol Iwo LGBTQ+ people in Slovakia in October 2022, Open For Busine55 re$pond8d to
a request from 40 leadlng national companles for rnore evldence on the cosls of LGBTQ+ discrimlnalion in
the country. Twelve monlhs on, we published 'The Economi¢ Casè fc¥r LGB TQ+ Inclusion in Slovakia,. The
report Is Ihp first ol Ils kind fpr Slovakia and features quanlila14ve data analysls and case studlas that show
how discrimlnallon lowards LGBTQ+ people Is keeping the country Irorn reaching its economic goals, All four
major news channels atlended the launch of the report, along with around 100 mambers of the global
buslness communlly.
Czech Republic-.
In September, 66 ￿8jOr comp8nles In the Czech Republio published an open leller to Czech Prime Mlnisler
Petr Fiala. asking him to legalize same-sex marrl8ge. We did not lead this work. the eampaign was led by
Vodalon8 but drèw heavily (Jn Opèn For Business. analysis and namechecking our research in the open
lèttèr.
Thè Carlbbean
Barbados..
Hlgh-level meetings at thè start o12023- iargeting the bankSng, financial ar￿ professional service indusliles
Se￿ed as pivotal mom8nt5 for Open For Business lo advance LGBTQ+ inclusion in the Caribbean. Our
discussions c8ntred on how Ih#se industries can bett8Y support LGBTQ+ 8mploye85, Investors. and clients,
wlth sÈvéral major banklng groups going on to demonstrate an Increased wmmllmenl lo creating more
inclusive workplaces Ihroughoul the year, In August, we were proud 10 htssl the Inaugural'LGBTQ+ Inclusion
In Tr8v018nd Tourism Symposlum, in Bridgetown. Barbados. Organi8ed in partnership with Virgin Allanll¢,
IGLTA, anc5 local partn8rs, Ihe event broLJght togethar buslness. government and CSOS lo posllion the
Caribbaan as an intefnationalty LGBTQ+- friendly tourist destination.
Jam8ica=
Toward5 the end of 2023 we travellèd lo Jamaica lo meet with memb8rs of buslness and civil society lo
understand their appètite for working with Open for 8u81nes$ over Ihe next few years. They responded
POSltively, 8nd we are consSdèrlng our next steps in Jamalca lo support deGrlmlnalisalion effort5 as part of
our wider Carlbbean programme.
Page 5

Docu$lgn En¥elope ID.. 7657DOD6-7889405&4E274FSC1FCFC1C8
OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
Financlal revlew
The financlal year shows a 8vrplus of £29,350 compared lo a surplus of £60,237 in 2022. Income wos
£894.370 compared to £621,729 last year which is mainly due lo an Increase in grants received during Ihe
year. Exp8ndilure lo18lled £865,020 Gompared lo £561,492 in 2022 which is due lo an increase in overall
project aclivity during the year.
The thari18ble company. wilh the gid of sound financial rnanagement and the support of bath ils Coalition
Partners and other Funding Partners generated a very positive financial outcome lor the period, whi¢h
provid¢$ 8 strong foundation upon which to bulld lo continuè Open For Business, advocacy activities.
Reserves pollcy
The Board ol Tru51ees ha5 examined the chwitable company's requirements for resewes in light of the main
risk5 to the organisaliDn. 11 has established a policy Wha￿bY the unrestrictèd funds not committed or
Invested irb tangible fix8d assets h81d by the charilable company should be between 3 and 6 months of the
expenditLWe.
Budgeted expendilure for the year endèd 31 December 2024 is £600.970 and therolore Ihe largel is
£150.243 to £300,485 in general funds. The reserves are needed to meet the working capitsl requirements
of the charitable company and the Board of Trustees are confldenl that at thls level they would b8 able lo
continu8 th8 current activities of Ihe charitable company the event of a significant drop in funding.
The unreslricled reserves al the year-end amounls Ic) £273,532 which is within the currerbt rwrvès pollcy as
this represents 5.7 months of expenditure.
Going concern
Tha board have reviewed cashflow forecasts for a period ol at least 12 months from Ihe dale of signlng.
Sn¢luding sensilivlly on the levels of revenue expected 8nd costs Ineurred. The forecasls demon51rele Ihat
the ch8Tilable company ¢ontinues to be a golng concem 8nd wlll b8 able lo meet its liabilities when they fall
due.
Therefore, the board have a reasonable 8XP8clalitsn that the charitable company h88 adequate financial
resources to continue in operational exlslence for the foie5eeoble fulure. A￿ord￿ngly, our aocounts have
bèan prépared on the basis that Ihe charitable company is a going COK￿r￿, as set out in the accounting
poliues hole 1.
Page 6

Docu*gn Envebpe ID-. 7657DOD6-7869405E4E214F9CIFCFC1C
OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
Future plans
Staffing and operations..
Over the next year Opgn Fgr Business will be slrenglhgning our staffing and op¢rations by recruiting several
new key roles. A Director of Developrnenl wll Lake the lead on our coalition, expanding il 10 50 merrber5
over the next low years. as well as managing our other Income streams Ilrusts. foundations, granlsl. A
Director of Global Engag8ment will manage our engagom¢nl with mullilater8L8 and lead on producing our
global reports. A Diraolor of Communications will slart a new ￿l￿[H￿nICatIOnS functSon withln Open for
8usiness. We wll 8Eso bo impl¢menling 8 new"Head of Ragion role. inilially in East Africa, rnanaged by our
Dlr8clor af Global Prograrnm88. The new management lay8r will ensure that our programmes ai8 locally led.
managing consultants and forming work plans with an in-depth knowledge of the local context,
Global Programmes,,
Over the next few years OpEn For Buslness will be priorflLsing engagement wth multilalerals as a means for
growing the audience of our global reports. In January 2024, Dominic presented on our newg81 piece of
research. The Investor's Gulde, al The World Economic Forum's annual rneeling in Davos.
Saulhe881 Asia..
In January 2024 our Southeast Asia piogramme will launch and we will begin preparations to write "The
Economio Case for Inclusion In Southeast Asla" whl¢h we will launch later in the year. The report will locus
on Thailand, The Philippines, Singapore, Indonesi8, Malaysia and Vietnam.
Ea81 Afrioa..
In 2024 we wlll be expanding our work in Easl Africa from Kenya, lo Rwanda. Uganda and Tanzania,
dtsveloplng an Ecorhomlc C8sè lor Inclu$lon in E8St Afrbca and growing our busln•ss engagement across the
region.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governlng document
The charitable company was established under a Metnorandum of Association which eslablisheil ils objects
and powers and is govorn8d under Its Artrcles of Asso¢i81ion. 8monrJed 23 March 2023, and constitutes a
limlled company, limited by gu?ranle8, as definod by the Cofflpanles 2006.
Re¢rultmont and appolnlmont ol n•w trustoes
Under the atnend8d requirements ol the Memorandum and Articles of Associ81ion the members Of the Board
ol Trustees a￿ elected to serve for a period of Ihree year8. Any person retiring a8 8 Tnjslee is eliglble for
re8ppoinlmenl by the Truslee5 provided that il a trustee has served lor more than nine years, their
reappoinlmenl is-,
1. subj8Ct lo a particulafty rigorous review and lakes into account the need for progresslve refreshlng
of the board, and
2. explained In the Iruslees. annual report.
Page ?

tkGuslgn Envèlwe 10.. 7￿7￿￿)D6-?B￿mlSE.9E274F9CIFcFCIC8
OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
REFEREhlCE AND ADMINISTRATIVE DETAILS
RÈgistered Company number
1 t717349 IEngland and Wales
Registered Charity number
fj 184327
Reglstèred offlco
16 Lincoln's Inn Flelds
London
WC2A 3ED
Trustees
The directors ol the company are also trustees for the purposgs of charlty law and under th8 companVs
Articlès of Association arè known as members of Ihe Board of Truste￿. The twste&s who served during the
yearwère..
A J Miller, Chair
L J Dobtsus
R A Glick
E A Grant (resigned on 27.03.20241
D K McLeod
A Zappulla IresigrTrEd on 20.07.20231
J R A Curtis Ir8slgn8d on 20.07.20231
L C G Rezende
K Chon
N Cllxby
G Sandhu lappointed on 20.07.2023}
D Davies lappoinled on 30.11.20231
K Janssens lappoinled on 18.12.20231
Auditors
Sedulo Audit Llmlted
Stalulory Auditors
605 Albert House
256-260 Old Street
London
EC1V9DD
Page S

Docusl9n Envébpè ID.. 7657LNJ06-7889405E-9E274F9CIFCFC1CB
OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
AUDITORS
The auditors. Sedulo Audil LiMlle¢J, will be proposed for re.appoinlrnent al the forthcoming Annual Genèral
Meallng.
Report of Ihe tiuslees, incw89tlinp4sliategic report, approved by order of Ihe board of Iruslees, as the
company directors, on ............................................. and signed on the board s b8half by..
08865EIDC9114D&..
K C Janssens - Tiustee
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Oocuslgn Enveknpe ID.. 76s7D0￿.?B8?40SE4E2T4F9C1￿cFCIC6
OPEN FOR BUSINESS LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
TRUSTEES. RESPONSIBILITY STATEMENT
The trustees (who are also the directors of Open For Business Limited for the purposes of company law) are
responsible for preparing the Annual Report and the financial slalements in accordance wilh applicable law
and United Kingdom Accounting S18ndards (United Kingdom Generally Accepled Accounting PTaclicBI.
Company law requires Ihe trustees to p¥epare financial statements for each financial year which give a true
and fair view of the slate of affairs of the charitable comp8ny and ol the incoming Tesources and application
of resources. including the income and expendllure, of the charilablg company for that perfod. In preparing
those financlal statements. the trustees are requlred lo
select suitable accour*ling policies and then apply Ihem consistently.,
observe the methods and principles in the Charity SORP.,
make judgetnents and e5tiMates that are reasonable and prudent.,
preparo the finanGlal slalements on the going concern basis unless it is inappropriate to presum¢ that lh&
charitable company wlll conllnue In bus(ness.
The Iwslees are responsible for keeping proper attcountlng records which disclose with reasonable accuracy
al any time the flnanclal posliion of the charltablÈ eornpany and to 8n8ble Ih8m lo ensure that the financi81
statements compW with the Companies Acl 2006. They are aL80 r8sponsible for s8leguarding Ihe assets of
the charilable company and hence for taking reasonable slep5 for the Prevention and dgledion ol fraud and
other lirègularltiès.
In so far as the trustees are awarè:
there Ss no relevant audit Information of which the charltable compan￿5 audilors are unaware- and
the Iruslee5 have taken all stEPS that Ihey ou9ht Its hav¢ taken to make Iheinselves aware of any r81ev8nt
audit information and lo 88lablish th)t the audllors are awarg of that information.
Pa£e 10

Docv$ign Énvolope ID.. 7657D006.7889405E4E274F9C1FCFCIC8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
OPEN FOR BUSINESS LIMITED
Oplnlon
We have audlted the finonclal stBlÈmenls of Open For Business Llmi18d Ilhe 'charitable company'l for the
year ended 31 December 2023 whlch comprisè thè Statement ol Financi81 Aclivilies, the Balance Sheet. the
Cash Flow Slatemenl and notes to the financlal statements, including a summary of significant accounting
policies. The financial reporting framework th21 has been applied in their preparalion is applicable law and
United Kingdom Accounting Standards Iunlted Kingdom Gener8lly Acceptèd Accounting Practice).
In otsr opinion the financlal 8tslemenls'.
give a true and fair view of the state of thè charilable company's affairs as at 31 December 2023 and ol ils
incoming resources and application of resources, including bts income and expenditure, for the year then
ended.,
have been properly prepared in accord8nc8 wlh Uniled Klngdom Generally Accepted Accounting
Practice.. and
have been prépared In awordanc8 wlth the* requiremenls of the Charities Act 2011.
Basls for oplnion
We conducted our #udit in accordance with Inlernattonal Standard5 on Auditing {UKI {ISAs IUKI) and
applicable law. Our responsibilitiès under Ihos& stsndards are further described in the Auditors,
responsibili118s for th8 audit of Ihe financlal slalemenls section ol our report. We are indepèndent ol thè
Gharitable ¢omp8ny in accordance with thè ethical requirem&nls Iha( are relevant to our audit of the financlal
6talemenls in the UK, Includlng the FRC'S EthiGo1 Slandard, and we have luifilled our other ethiG81
responsibilities In accordance with these requirernenls. We bellève that the audil evidence we have
obtai￿d is sufftci8nl and appropriate lo provide a basis for our opinion.
Concluslons relating to going concern
In auditing the fin8nci81 stalemenls, we have concluded that the trustees. u88 of the going concern basis of
8ccounllrhg in the preparatlon of the financial statements is approprlale.
Based on the work we hove performed, we have not Sdenlifled any m8tÈrlal uwrtalnlies relatlng lo events or
conditions Ihal, Sndividually or collecllvely, may cast slgnificanl doubt on the charitable company's ability to
continue 8$ 8 going concern for a period ol at least twelve monlhs from when the finanBkl statements ore
aulhorised for issue.
Our rèsponsibilitiBS 8nd the responslbililie5 of the Irustees w¢th respect to goin9 ¢oneem are desuibed in the
relevant se¢llons ol this report.
other Infomiatlon
Thè IriJste&s are rèsponsible for the other information. The other Informatlon comprlses the infomiatlon
)cluded in the Annual Report. other Ihan the financlal statements and our Report of the Indep8ndent
Audllors thereon.
Our opinion on the financial statements dues nol cover the other information and, except lo the extent
olherwise explially stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our #udil ol the fln8n¢l81 sl8lemenls. our responsibillty Is to read thè othei Informallon
and, in doing so, consider whether the other inlo¥malion 55 tnaleilally in¢onslslent with the financial
si8lèments or our knowledge oblalned in Ihe audil or olherwise appears to bts malerl8lly mpsstated. If we
identify such material incon81slencies or apparent malerial misslatBmenls. we are requlred to delermlne
whéther this gives rise to a material misslalemenl in Ihe financi81 slolements themselves. 11, based on the
work we have performed. we conclude Ihal there is a malerial misslatèmenl of Ihi5 other inlorm8tion, we are
required lo report that fact. W¢ have nothing lo rewrt in thls regard.
Page 11

ocJJ¥Eqn ENv8hpe ID.. 7657DOD6.7889405E.9É274P9C1FCFCIC8
REPORT OF THE INDEPEhlDENT AUDITORS TO THE TRUSTEES OF
OPEN FOR BUSINESS LIMITED
Mattets on whleh we are required to report by èxe•ptlon
Wè have nolhlng lo report In réspact ol the following matters whÈr8 th8 Charities (Accounts and R¢p¢rt51
Régulalions 2008 requires us to rèport to youll, In our opinion..
the Information given in the Report of Ihe Truste85 is inconsislenl In any material respect with the financlal
slatern8nts- or
the charilable company has nol kept adequate accounting records., or
tho financial s18lern8nls are not in agreement wilh the accounting ¥ecords and returns. or
we have not received all the infortnation and explanalions WÈ rÈqu&re for our audit.
Responslbllltl•s of trustees
As explained moré lully in the Trustees, Responsibilitiès St8t&ment, the Injstees (who are 8L80 the diieclors
of the charitable Gompariy for Ihg purposes of company lawl are responsible for the preparation of the
finanual statements and for being satisfied Ihal Ihey glve a l¥u8 and fair view, and for such internal control as
the trustees dètermifte is necessary lo enable the preparation ol financial slalemenls that are fr88 from
material mlsstalemenl, whether due lo fraud gr e*ror.
In preparlng Ihe financial stalemenls, the Iruslees are responsible lof assesslng the Gh8rilable CoMpan￿S
ability to continue as a going CDncern, disclosing, as applicable. matters related to going concèrn and using
th8 going concern basi5 01 accounllng unless the trustees either intend to I￿Ul￿at6 the charilable company or
to cease operations. or have no realis1￿ alternallve bul to do so.
Our responsibllitles for the avdlt of the flnanclal statement5
We hava beon appointed as aydilors undér Sèction 144 01 the Charltles Act 2011 and report in accordance
with the Act and relevanl regulations made or having effect thereunder.
Chjr objectiV8s are ta obtain reasonable assurance about whether the financial slatemenls as a whole are
freg from maierial miss181emenl. whether due to fraud Dr error. and to issue a Report of the Indepenclenl
Audltors Ihal includes our opinion. Reason8bl8 assurance is a high level of assurance, but is not a
guarantèe that An audit conducted in accordance with ISAS IUKI will always delecl a rraterlal mlsstatemtrnl
when 11 exists. Misstatemonls arfse from fraud or error ané are consldered material If, indlvldually or in
the aggr8gale, Ihey coukl reasonably be expected to Influence Ibe economle dedsion5 of users tak8n on the
basis of Ihese financial stalemenls.
The extent to which our wocedures are capable of detecting irregularilles, Including fraud is detailed bebw..
In response to the risk of irregularities 8nd non-compllance wth laws and regulations. including fraud, we
designed procedures wilh included..
The prlmary responsibilty for the prevenlion aNJ detection of fraud Te51ed with Irustees an¢J manag8mtsnt.
and we cannot b8 expecled lo detect non.compliance wllh all laws and regulalSons.
We identlfied areas of laws and regulations Ihal coukl reasonably be expected to have S material effect on
lh¢ financial s181ern¢n15 form our knowledge of Ihe wganisalion and sector, enquiTi88 of trustees and
rnanagement, and ievlew ol regulalory information and correspondence. We communi¢atÈd identified laws
and regulations throughout the 8udll 18am and remalned alert lo any l¢)dlcallons of r￿n-CoMpliancO
Ihroughoul the audlt.
We discussed with trustees and management the polici8s and procedures in place lo ensuro compllance
with laws and regulations and othonKise prevent, deter and d8tecl fraud.
Based on thls understanding we designed our audlt procedures Iv idenllfy non-compliance with such laws
and regulallons i6entilied as potentially having a material effect on the financial statements. Our prO￿dUreS
included review ol financial slalemont inlormalion and lesting ol Ihat information, enquiry of managem8nt
and OXAmin8llon of relevant dOcuMentat￿n, analytical procedures lo identify unusual or unexpected rel8tions
that may indicate fr8ud, and procedures lo address the risk of fraud through Iruslea or maThagement override
of controls.
Page 12

tjocuslun E￿vekipe ID. 7657tX)D6.7889405E-9E274F9CIFCFCIC8
REPORT OF THE INDEPENDENT AUDITORS TO THETRUSTEES OF
OPEN FOR BUSINESS LIMITED
A lurther dgscriplion ol our responsibiSiti8s for the audit of th8 financial sl8t8m8nls is lorAlèd on the Financial
Reporting Council's w8bslt8 8t www.frc.org.uklauditorsresponsibllilies. This descrlplion fom75 part ol our
Report of the Independent Auditors.
Use of our report
Th15 r¢port is rrbod¢ solely lo the charilable company's Iruslees. as a body. in accordance wllh Part 4 of the
Charities (Accounts and Reports} Regulations 2008. Our audit work ha5 been ijndertaken so Ihal we mlght
state to the charltable company's Iwslees those matters we afe required lo state lo them in an auditors.
report and for no other purpose. To the fullest ¢xlenl pertnitted by law. we do nol accept or assume
responsibility lo anyone other than the charitable company and the charitable cornpany's trustees as a bLKIy,
for our audit work. lor this report, or for the opinions we hgv8 forwned.
Doc￿19￿16b￿.
[SLJAlo
Sedulo
Im
Statutory Auditors
605 Albert House
256.260 Old Slreel
London
EC1V90D
30109/2024
Ity'yle-d
Dale..
Sedulo Audll Limited is eligible for appoinlmenl 88 aL￿110r ol the cha￿tY by vlrtue of lis eligibility for
appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 13

Docusign EnvBk)pe ID.. 7657D006.7889405E-gE274FgCIFCFC1CB
OPEN FOR BUSINESS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
Total
funds
2022
Total
funds
as r8slaled
Unre$lrided
funds
Reslriclerl
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacie5
444,478
359,423
803,901
618,396
Other trading activilieg
90,469
90,469
534 947
359 423
894,370
621.729
EXPENDITURE ON
Charitable actlvllles
International PTogrammes
650,992
214.028
865 020
NET INCOMEIIEXPENDITUREI
1116.0451
145.395
29,350
60,237
RECONCILIATION OF FUNOS
Total funds broughl forward
389,577
136,384
525,g61
465,724
TOTAL FUNDS CARRIED FORWARD
273,532
281 779
SS5311
52S 981
The notes form part of these Ilnan£lal st3tem2nt5
Page 14

DoGU8lun Envebpe ID.. 7657DOD6.7B89405E-9E274FgC1FCFC1C8
OPEN FOR BUSINESS UMITED
BALANCE SHEET
31 DECEMBER 2023
2023
Total
lut)ds
2022
Total
funds
as r8stsled
ilnrestricted Restricted
funds
funds
Notes
CURRENT ASSETS
Debtors
Cash al bank
13
91,715
387,803
91.715
669.582
3.014
550.347
281,779
479.518
281,779
761.297
553,361
CREDITORS
Amtsunls falling due wllhln one ￿ar
14
160.9861
160,9861
127,4DOI
NET CURRENT ASSETS
418.532
281.779
700311
525.961
TOTAL ASSETS LESS CURRENT LIABILITIES
418,532
281,779
700,311
525.961
PROVISIONS FOR LIABILITIES
15
1145,000)
1145,0001
NET ASSETS
273 532
281.779
555,311
525.961
FUND5
Unrestricted funds
Rgstricted funds
16
273,532
281 779
389,577
136 384
TOTAL FUNDS
555,311
525 961
The notes forrn part olthEse financial statements
Page IS
contlnued.

Do¢uslgn Envekpe 10., 7￿7￿006-186g4OSE-9E2F4F9ClFCFC1c8
OPEN FOR BUSINESS LIMITED
BALANCE SHEET- CC*ntinued
31 DECEMBER 2023
Thè ¢harllable comp8ny 1$ entllled lo exempllon frorn audit under Section 477 of the Companles Act 2006 lor
the year ender5 31 December 2023, although an audil has been carried QL&t und8r section 144 of the
Charilie$ Act 2011.
The members have not dep051ted notic8, pursuant lo Sectiorh 476 of the Compan￿9 Ael 2006 requiring an
8udil of"these fin8neial slalements.
The Iruslees acknowledge Ihelr responslbllilles for
ensuring that the charitable company keeps Bccounllng records that comply with Se¢tk>ns 386 and
387 01 the Compani¢s AGI 200e and
preparing financial ststernents which glve a true and fair view of the slate of affairs of the charitable
company as at the end of each fin8n¢lal year and of Its surplus or delicil for each financlal year i
accordance wilh thE requirement5 of Sections 394 and 395 and which othe￿Ise comply with the
requirernenls of the Companl6s Act 2006 relaling to financh?I slalements. so far as applicable lo the
charitable company.
Ibl
These financial slalemenls h?ve been prepared in accordance with Ihe provlslons appticable lo companies
subject lo the small companies reglme.
The Ib}w￿bA8leMe￿I5 were approved by Ihs Board of Trustees and aulhorised fot Issue on
and wèr8 signed on ils b8half by..
K C Janssons - Trustee
Company Number,, 11717349
The note5 form part of these linancial Statements
Page 16

u¥lgty Ehvebpe 10.. 765700Q6-7B89405E-9E274F9C1FCFC1CB
OPEN FOR BUSINESS LIMITED
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
as reslaled
Notes
Cash flow$ from operatlng activities
Cash generated from oper81ions
119.235
70.623
Nel cash provided by oporallng a¢livities
119,235
70,623
Change In eash and cash aquivalenls
In the reportlng period
Cash and cash equivalents at the
beglnnlng of the reportlng period
119,235
70,623
550,347 .
479 724
Cash and cash equivalents al th8 ènd
of the Yeportlng perlod
669,582
550 347
The Dotes fo¥m part of Ihese financial st3tÈments
Page 17

Docvsign Enwlopa10= 76S?DO￿7Be9405E-gE274F9ClFcFC1C8
OPEN FOR BUSINESS LIMITED
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVIMES
2023
2022
as restated
N8t income for the repurting period la5 PBr the Statement of
Financlal A¢tiville8
Adjustments for:
IlncreasElldBcrease in debtors
In¢rdaselldecreasel in creditors
29.350
60.237
188,7011
178.586
25,915
155291
Net eash provld#d by operations
119235
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23
Cash flow
Al 31,12.23
Net cash
Cash at bank
119235
669.582
The notes form part of these financial statements
Page Ik

Ddeuw EnvePa#J ID.. 765700D6-7889405E*274F9CIFCFC1C8
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
8asls of preparlng the flnanclal statemenls
The financial statements of the charilable company. which is a public benefil enknty urKJer FRS 102,
have bp.Èn prèparéd In accordancè with thè Chariiles SORP IFRS 1021 'Accounling and Reporting by
Charities.. Statement of Recommended Practice applicable lo charilies preparing their accounts in
8ccord8ncè wlth the Financlal Reporting Standard applicable it) the UK and Republic of Ireland {FRS
1021,, Financial Repo)rting Sland3rd 102 'The Financi81 Reporting Standard 8pp1Icable in the UK and
Republic ol Irel8tFd' and the Companies Act 2006. The financlal st8tements have been prepared
ut)der th8 hislorical cost convention.
The (inanclal slalemenls are prepared in sterling. wh(oh is the presentstlOll81 and funcllonal currency
of the eharitablo company. Monetary amounls in these financjal ststements are rounded lo the
ne8resl £,
The charflable company meets the definilion of a public benefit enlily under FRS 102.
Going concern
The board have reviewed ¢ashflow lorecasts lor a perlod of at least 12 months from the dale of
slgning. In¢ludlng sensllivity on the levels of r¢v¢nue expected and costs incurred. The forecasts
demonslralo that the charll8ble company wlll bè oble to rneet lis Ilabllitles when they fall due.
Therefore. the board have a reasonable expeclallon that the charitable company has adequate
financial resources lo continue in opeialional exrslen¢e for the foreseeable future. AccordlngEy, Ihe
aCCOLints continue lo be prepared on the basls that ihe charllabl8 company is 8 going con¢8In.
Income
All income is recogni3èd in Ihe Stal8rn8nl of Financlal Atttlvit185 oncè thè chartlable company is
enlltled to the income. any performance rela14d conditions allached have been mel or are fully wllhin
the control ol thè chèrilable company. the income is considered probable, and the amount can be
quantified with rèasonable aceuracy. The following specified policies are applied 10 particular
caleoories of incotn8.'
Income received by way of donations is included in full in the slalemenl of finan¢lal a¢livi1188 when
iecelvable.
Income from other trading activities includ85 sponsorships, memberships and con5ullancy setvl¢es.
These are recognised when the charitable company has delivered the Service and Is Iharefore 8ritillad
to Ihe inGomg, and net ofVAT.
Donated professional seTvlces and facilities
Donaled professional servlces and donated facllities are recognised as income when the charitable
company h8s control over them, any conditions essoclated with the donated item have been met. the
Tecelpl of economlc b8n8fit from the use by the chariiablè crjmpany of th8 Item, Is probable and th8
economic bgnefll can be measured r81iably. In accordance with ihe Charities SORP IFRS 1021,
general volunteer tirr8 Is not re¢ognised. On receipl. donated prof8ssional setvlces and donated
facilities are recognised on Ihe basis of Ihe value of the gift lo the charilable Company which is the
3mr>unt the charitable comp8ny would have been wSlllng to pay to obtain se￿iceS or facilities of
equivalent economic ben8fil on the open market,. a correspond1r￿ amount Is th8n r8cognis8d In
expendllure in the period ol receipt.
Expenditure
Expendllure is accounted for on an awruals basis ond has been ¢lassifièd under headlngs that
8ggr8gale all cost related lo the categDry. Where cost5 e8nnot be dlreclly aitributed to particular
headings they have been allocated lo activSlles on a basis conslslenl with the use of resources,
Taxation
The ch311tabt¢ cofftpany Is exempl from corporatlon tax OTr ils charftable aclwilies.
PaBe 19
continued...

Dtscusigrn Envekipe ID.. 7657DOD6-7889405E-gE274FgC1FCFC1C8
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEIJIENTS - contlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES - continued
Fund accountlng
Unreslricled funds can be used in accordance with the charilable obS8clives at th8 discretion of the
Iruslees.
Restricted fund5 can only be used for p3rti¢ular restrKted purposes wthin the objects ef Ihe chailtable
company. Reslriclions arise when specified by the donor or when funds are Taised lor particular
restficled purposes.
Forelgn currencies
Assèts and liabilities Sn foreign CL¢rrencles are translated inlo sterling al the rates of exchange rulin9 at
the balanc8 shèÈt date. fransactions in foreign currenci85 ara translated irblo sterling at the rale of
exchange ruling at the date of transaction. Exchange diffe￿nceS l¥ken into awounl in arriving at
the operating result.
Hlre purchJ¥e and leasing commilments
Rentals paid under operating leases are charged lo the Sla18menl of Flnancial Actlvlties on a straight
line bo$1$ over the period of the lease.
Pension costs and other post-retlrement benefits
The charitable company operates a defined conlributK>n pènslon schem&. Conlrlbulions payable to
the charitable company's pension scheme are charged lo the Stalemenl of Financial A¢livili¢s in Ihe
perlod lo which they rela18.
Flnanclal instrument$
The company has elected to apply the provisions of Section 11 'Basic FinanGi31 Instrumenis, and
Secllon 12'0ther Financlal Instruments Issues. of FRS102 lo all of ils financial statements.
Finanaial tnslTUtnen15 are recognised In th& comp8ny's balance sheel when the company b8comes
parly lo the oontraclual provisions af the instrument.
Financial assets and liabilities are offset, wilh the nel amounts p￿Sented in the financial statements.
when there is a legally enforceable right io set off Ihe recognised amounts and there Is an intenlSon lo
sèttle on s net basis or io rèalise Ihe asset and settle the liabillly simultaneously.
Basic flnanclal 8ssels
Basic financial assets, which inoludes debtors and cash arKI bank balanG&8, 8re Inltlally measuied Bl
transacllon price including transaction costs and are subsequenlly carried al amortised cost using the
effective infere51 melhod unle55 the arrangement constilules a financing Iransaclion, wh$re th8
trensaclioTF is measured al present valLte of the future receipts discounted at a markel rBte of interest.
Financial asserts classified as receivable within one year are not arnortis6d.
B8slc financial liabilitiès
Basic financlal Ilabilitieg, In¢ludlng ¢rèditors, bank 108ns, loans from fellow group companies and
preference shares Ihat are classiffed a$ d8bt, are initially recognlsed at transaction prtce unless Ihe
arrangemenl constitutes a finandng transaction. where the debt instrument 15 measured at Ihe
presenl value ol the future payments discounted al a markel rale ol interest. FinanciBI liabilities
¢lassined as payable wlthln one year are not amortised.
Debt ￿StruThent￿ are Subsequently carrled at amortSsed cosl. Ljsing the effectlve interest fate method.
TTad8 credllors are obligations to pay lor goods and SEivices that have been acquired in the ordinary
course of business from suppliers. Amounts psyable ar& dassif18d as curmnt liabilili8s il payment is
due within one year or less, if not, Ih8y are prèsÈfit8d as non-currènt liabiliti85. Trade creditors are
recogni5od inStlally 81 Iransactlon price and subsequently me35ured al amortlsed cost using the
effective inleresl rate rnethod.
Paae 20
coThtlnuÈd...

DoGu$lgn Env¢bpe10.. 7657D0￿7B8g40sE-9E274F9GlFcFc1C8
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continuèd
FOR THE YEAR ENDEO 31 DECEMBER 2023
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION
UNCERTAINTY
In the applicallon of Ihe charitable oompany's accounting policies. lh¢ Iruslees are required lo rrako
judgemenls. eslirnales and assumpllon5 8boul the carrying 3muunl of 8sse15 and liabililles that are
not readily apparent from oth8r sources. The eslimales and associated assumptions are based on
hlsiorlcal experlonce 8fKI Qlher la¢lors that ere ￿nsidered to be relevant. Actual results may differ
from these eslimales.
The eslimales and und&rlying assumptions ar& reviewed on an ongolng basis. Revisions to
accounting estimales are recognised in the pgriod which the estlmate is r8vlsed where the revision
affÈcls only that pèriod, or In the period of the ￿viSr(}n and future periods where the revision aff8cls
bolh current and future periods.
During the year. the truslees made an estimate in retation lo a VAT provisic)n. A provlslon has been
included within the financlal sl8leFnents baged on calculations following a VAT review which havè
been disclosed to HMRC. There are Un￿rtaIntleS around Ihe final figure In which will be approved
by HMRC on¢e their assessm8nl has been complèted and the interest charged.
DOhlATIONS AND LEGACIES
2023
2022
as restated
Gifts in Kind
Donalions
Gran
99,000
339.081
365.820
374,669
243.727
803.901
618.396
Unrestricted
Fund
R65liicled Tolal funds Total funds
Funds
31,12.23
31.12.22
Donations
Gifts In Kind
339,081
99.000
339,081
99,000
374,669
Granls..
The Oak Founclalb
The Tid8 FoundallDn
Dreilindèn Foundation
Open So?Aely Found81ions
Wirgin
Accenture
The Kaleidoscope Diversity Trust
Google
Other grants
134,186
109,597
24,225
19.208
60.QOO
134.186
1 D9,597
24,225
19.208
60,0(MI
30,879
30,905
78,643
50.000
40,406
12.366
2,607
8,000
1.600
2,607
8,000
6.397
530
444,478
359 423
618 396
Pa8e 21
contlnued...

D￿USIgn EDvelop¢ ID: 7657DOD6.7B89405É4E274F9C1FCFCIC8
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENfs-contlnu8d
FOR THE YEAR ENDED 31 DECEMBER 2023
OTHER TRADING ACTIVITIES
2023
2022
as restated
Sponsorship
Memberships
68.832
21.637
3.333
3.333
CHARITABLE ACTIVITIES COSTS
2023
2022
as reslated
Staff coslslsee note 101
Rent
Marketing
Consultancy fees
Travelling expenses
Conferences and events
Support cosls (see nole 61
103,702
1,62L)
31.752
220,573
1,311
15,478
290.758
18,302
377,024
75,925
43,668
246,399
865.020
561.492
P•Ee 22
contlnued...

Oocuslgn gnvok)p¢ ID.. 7657D006-78894056-9E274F9C1FCFcice
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
SUPPORT COSTS
2023
2022
as resi8ted
Staff costs (see note 10)
Markoting
Bank charges
IT software and consumables
Renl
Insuranc&
Sundries
ForeFgn exchange movements
Staff training
Staff recruilmenl
Consultancy foes
142,561
160,474
20,042
1,218
724
1,077
1.047
12,000
1,297
2,329
4,536
1,038
2,750
61,576
907
5,587
4,649
550
80,855
Governance costs Is8e note 71
246.399
290,758
GOVERNANCE COSTS
2023
2022
as rest8ted
Auditors, Temunèratlon
Accountancy fees
Legal faes
8,450
5,538
6,OfKJ
9,752
16.088
Page 23
continued.

Docuslon EThv6bp810.. 7657DOD6-7B89405E-gE274FgC1FCFCfjC
OPEN FOR BUSINE88 LIMrrED
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 DECEMBER 2023
NET IhlCOMEIIEXPENDITUREI
Net incomellexpenditurel is staled aftèr charyingllttredilingl..
2023
2022
as restated
Auditors. remungralioii
TRUSTEES. REMUNERATION AND BENEFITS
Thér8 were no trustees. Temuneralion or olher benefits for Ihe year ended 31 December 2023 nor for
Ihe year ended 31 December 2022.
Trust•ès' expenses
There weTe no Iiustees, expenses pald for the year ended 31 Deeember 2023 nor for the year e￿ed
31 December 2022.
40. STAFF COSTS
2023
2022
as restaled
W8g8s and salaries
Social security costs
Other pension costs
212,645
20,144
13,474
142,551
15,973
246 263
160474
Ourlng the year, the charitable company paid £3,90012022'. £50.000) 10 1 12022.. 11 member of staff
as sèverance pay.
Key Managèment P•rsonn&l
The charilable company considers i& key management personnel to comprSse the Irlsslees, Chièf
Execulive 8nd Strat8gic Partnarship Director. The total Èmployment benefits, including employer
pension and nalional insurance contributions of those Key Management Personnel were £167,782
12022.. £129.1311 incurred by 2 12022.. 21 members ol staff.
Paee 24
conllnued...

Dowsign Envebpe ID.. 76S7DOD6-7Be9405E-PE274F9CIFCFC1CB
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - contlnuad
FOR THE YEAR ENDED 31 DECEM8ER 2023
10.
STAFF COSTS . ¢ontlnued
The average monthly number ol emptoyees during tho yoarwas as follows..
2023
2022
as restated
Adrninistralton
The numb8r of 8mployees whose employee benefits (excluding employer pen51on costs) oxce8ded
£60.000 was..
2023
2J22
as restated
£60,001- £70,000
£80.001- £90.000
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restr¢cled
tunds
funds
Total
funds
as reslaled
INCOME AND ENDOWMENTS FROM
Oonalions and legacies
453,840
164,556
6f8.396
Other Iradlng a¢livilles
3,333
3,333
Total
457 173
164 556
621 729
EXPENDITURE ON
Charitable octlvltl*s
Inlernational programrnes
448218
113274
561492
NET INCOME
8.955
51.282
60.237
RECOhlCILIATION OF FUNDS
Tot31 funds brought forward
380,622
85.102
465,724
TOTAL FUNDS CARRIED FORWARD
389 577
136.384
525 961
P38e 25
continued...

Docu5*n Envélopè ID.. 7657DOD6-786940SE-9E274FgC1FCFC1C6
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS . continued
FOR THE YEAR ENDED 31 DECEMBER 2023
12.
PRIOR YEAR ADJUSTMENT
The amounts foi th8 piior year hav8 be8n adlusted for Ihe misallocalion of restricted funds spent. Th8
adjustment included the reallDcalion of consultsncy fees 101811ing £13,051 from unrastricted funds lo
restrict8d fund5. r•sulling in an IftcM8s8 In Ihe overall unrestricted fvnds balance and a r¢duction in
the overall restricted funds bÈlance a131 Dèeèmbtr 2022.
Previous
2022
Reslaled
2022
Adjustment
Unrestricted Funds
402.628
389.577
113,0511
Reslrkled Funds
123.333
136,384
13,051
13.
DEBTORS: AMOUNTS FALLING DUEWITHIN ONE YEAR
2023
2022
as restaled
Trade debtor3
VAT
91,715
800
2,214
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
as restsled
Trade credilor5
Social security and other taxes
VAT
Other creditors
Accruals and deferred incorne
7,572
4.906
6.490
10,443
31,575
7.034
3,549
436
16.381
60,986
27,400
Deferred income movemgnt..
2023
2022
Deferred Smcome broughl forw8rd
R#l¢ased during the year
Oefeired in the year
8,500
18,5001
12,000
21,345
121,3451
8,500
Total
Pa8e 26
continued...

Docu5￿￿ E￿￿k)￿ ID.. 7657E4)D6.7889405E.92Z74FgC1FCFC1¢8
OPEN FOR BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continuèd
FOR THE YEAR ENDED 31 DECEMBER 2023
15. PROVISIONS FOR LIABILITIES
Durlng the year, the ch8rTrlable company Carried out an internal VAT revipw wh￿h resulted in an
eslimaled liability of £145.000. This amount reflects the amounl the organlsatlon calculated Bnd
disclosed to HMRC. As at thè dBtè of signing, there is slill uncertainty as lo the amount in which
HMRC wlll conclude is owing and therèfore, we havo re¢ognl8ed Ihis as 8 provision.
16. MOVEMENT INI FUNDS
Nel
movgmgnl
in fLFnds
Al
31.12.23
A11.1,23
Unrestrlcted funds
General fund
389,577
1116,0451
273.532
Reslrlcted funds
RÈstrlcl8d fund
136.384
145,395
281.779
TOTAL FUNDS
525 961
555,311
Net movement in funds, includèd in lh6 abtsve sre as follows..
Incotning
resour￿$
Resources
exponded
Movement
in funds
Unrestricted funds
G8nèr81 fund
534,947
1650.9921
(116,0451
Rastrict•d lunds
Resiricled fund
359,423
(214,028)
145.395
TOTAL FUNDS
894.370
Comparallves for movement in funds
N81
movement
in funds
At
31. 12.22
At 1.1.22
Unr¢strl¢led furtds
General fund
380,822
8,955
389,577
Rèstrletèd funds
Reslricled fund
85,102
51,282
136,384
TOTAL FUNDS
465,724
60,237
525 961
Page 27
contI￿￿ed.

Dottssw EnvelopB10.. 7657DO06.78894o5EQE274F￿1FcFC1c8
OPEht FOR BUSINESS LIMITED
NOTESTO THE FINANCIAL STATEMENTS- ¢ontlnu$d
FOR THEYEAR ENDED 31 DECEMBER 2023
16.
MOVEMENT IN FUNDS - contlnued
Comparalive nel moven)enl in funds, included in the above are as follows-.
Incomlng
resources
Resources
expended
Movemenl
in funds
Unrestrlcled funds
Gelloral fund
457,173
{44B,218
8,955
Reslrlcted funds
Restiicl¢d fund
164.556
(113,2741
51.282
TOTAL FUNDS
621.729
1561,4921
17. RELATEO PARTY DISCLOSURES
During the year, the ¢h8rit3bl2 company received gifts in klnd l018lllng £12.00012022'. £Nill in relation
lo rent from BTunswick Group whefeby Jon Miller Ilrusleel Is a partner. Jon Millor also mBde
donations lo13lling £2,00012022- £Nill.
Netanya Clixby Itrusteel made donatlons during the year lolalling £3,24012022-. £Nill.
Dvring th8 year, Ihe charitable cornpany paid £18,000 12022.. £Nill to Edgevlsory Limlted wh8rèby
Ken Janssen6 Ilrusteel is a director, for research services. The services were paid, completed and
ihe contract t￿Minated belore he joined his first board meeting as a trustee on 31 January 2024.
Th¢re were no related paty transactions lor Ih¢ year ended 31 December 2022.
Page 28