COMPANY NUMBER.. 0654676 REGISTERED CHARITY NUMBER.. 209367 ATD FOURTH WORLD LIMITED A company limited by guarantee and not havtng a share Capital UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 December 2023 RPG CROUCH CHAPMAN LLP Chartered Accountants 40 Gracechurch Street London EC3V OBT ATD FOURTH WORLD LIMITED FINANCIAL STATEMENTS ST YEAR ENDED 31 DECEMBER 2023 CONTENTS Reference and admini51r8tive information Page 1 Re[￿ of the directors Page2to13 Independent examinerfs report Page 14 statement of Financial Activities Page16 Balance Sheet Page 17 Cash Flow Statement Page 78 Notes lo the financial statements Page 19ff ATD FOURTH WORLD LIMITED REFERENCE AND ADMINISTRATIVE INFORMATION ST AS AT 31 DECEMBER 2023 DIRECTORS.. Caroline Davies Nicholas Edwards Iresigned on 13.06.20231 Anuradha Gupla Lyle Barker lappointed on 30.10.2023} Simon Haworth Gertraud Trivedi (appointed on 30.10.2023} Letitia Mason Ichairl Thomas Mayes Ellie Kyung Young Suh {resigned 05.12.2023) lan Whitefool (Treasuierl Aye Aye Win SECRETARY. Thomas Croft REGISTERED OFFICE AND PRINCIPAL ADDRESS. 48 Addington Squaie London SE5 7LB COMPANY NUMBER. 0654676 REGISTERED CHARITY NUMBER.. 209367 INDEPENDENT EXAMINER.. Jeremy Tyrrell RPG CTouch Ch2pm8n LLP 40 Graceehurch Sireel London EC3V OBT BANKERS National Westmirsster Bank PIC Camberwell Branch 70 Denmark Hill London SE58 CAF Bank Limited PO Box 289 Wesl Malling Kent ME194TA Page 1 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS The director5 present their annual report together with the financial slalements of the company for the year 1 January 2023 10 31 December 2023. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The directors confirm that the Ar5￿Ual report and finap)cial statements of the company comply with the current statutory requirements. the ¥equirements of the company's governing document and the provisions of the Statement of Recommen¢Jed Practice ISORPI applicable lo charities preparing their accounts in accordance w7lh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 (effective l January 20191. Since the company qualifies as small undef section 382 of the Companies Act 2006, the Strategic ieport required of medium and large companies under the Companies Act 2006 Istralegic Report and Directors, Report) Regulations 2013 has been omilled. The directors confirm that the Charity Commission's general guidance on public benefit has been considered in relation lo the airns of the Charity. The report sets out these aims and objectives 2nd describes how they have been mel in the current year. PRINCIPAL ACTIVITY The company s main objeclive Is to provide relief for families in need of recuperation and rehabilitation by reason of their tx)verty or from sociall economic circumstances through provision of residential and non-residential centres and other activities deemed necessary to advance the well-being of such families. The company's aclimly is concentrated on the relief of poverty in the United Kingdom, operating mainly from two centres, 48 Addington Square in London and Frimhursl Family House in Surrey, both of which are provided rent free by ATD Fourth World Trust. an independent charity. The company does not provide financial support lo individuals but works alongside people experiencing persistent poverty to undertake family support projects and lo give them a voice lo change and influence the work of policy makers and practitioners in the Social Senrices and Government. Tre company's approach is to facilitate the participation of people from a background of poverty in the planning, carrying out and evaluation of these projecls. STRUCTURE. GOVERNANCE AND MANAGEMENT The company was incorporated on 30th March 1960 and is govemed by the Memorandum of Association and Articles of Association dated 30 March 1960. last amended 6 March 2018, 11 is a registered charity. number 209367, and a registered company, number 0654676. Page 2 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS continued Directors The directors are the charty trustees. Those who have held office during the period were as follows.. L Barker lappoinled on 30. 10.20231 N. Edwards {resigned on 13.06.2023} E. Kyung Young Suh (wesigned on 05.12.2023) L. Mason {Chairl G. Trivedi (appointed on 30.10.20231 A. Win C. Davies A Gupla S. Haworth T. Mayes l. Whilefoot {Treasurer) The directors aTe elected by the membets al the annual general meeting and by fellow directors during the year. Risk Assessmenl The charity's main financial risk is the possibility of being unable lo obtain sufficielll funding to enable it lo continue to fijlfil its objectives. The risk is being addressed by ensuring that good relations are maintained with actual and potential granloFS and by continually seeking new sources of funding. Progress in minimising this risk is detailed in the Reserves Policy Statement on page 11. Financial risks are addressed by insurance and by procedures such as dual cheque signatories. Other risks are covered by having effective policies and procedures in p12ce safeguarding children and vulnerable adults, health and safely, elc. and by having a board of directors with experience and competènce which meets regularly to supervise all aspects of the charity's work. During the year, the directors. ahead of planned changes in the charity's senior staff team in 2024, have initiated a review of the charity's strategic goals, inclusive governance policy. and the organisation's day- today managemeHI structure. This review, led by the Chair, was completed on 16 May 2024 and will enable the charity to conduct a smooth transition at senioi management level by equipping the new team with renewed strategi¢ priorities which have been both confirmed by the Board and informed by the charity's stakeholders. REVIEW OF ACTIVITIES AND FINANCIAL RESULTS 2023 During the 12 months the company has actively pursued its ¢haTitsble activities and there was a surplus of £27,928 12022." a deficit of £23,374) as shown in the Slalemenl of Financial Activities on page 16 of these financi81 statements. Projects Ihal involve providing support lo families living In persistent povety have continued to be carried out from both the London headquarters and Frimhurst Family House. ATD Fourth World actions and projects in 2023 continued lo develop and evolve in order to remain relevant to the most vulnerable and excluded families. Page 3 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS continued ATD FOURTH WORLD is a human rights based anti-povety organisats'on. dedicated to tackling inequality and promoting social justice in the UK. OUR VISION is of a world without persistent poverty, where everyone is valued. can participate fully in society and fulfil their polenlial. OUR MISSION is to build a network of people, groups and organisations committed lo overcoming persislenl poverty. OUR AIMS are lo support families and individuals living in persistent povety.. to get through tsmes of crisis to Pufsue their goals and aspirab'ons to develop their skills. confidence and knowledge. and bring them together with other members of the public. Including professionals, academics, and policy makers,. lo raise awareness of persistent poverty to counter prejudi￿ and discrimination to improve policy and practi OUR VALUES Reachin the hardest to reach= Many targel-led services fail to reach the rnosl disadvantaged people. We believe that families and individuals who have the most difficult lives hold the key to understanding and overcoming persistent poverty. They are al the heart of everything we do. Takin eo 2 ￿rIOUSl￿. Vvhen people are in difficulty, the focus is often on their problems or perceived shortcomings. Our approach is to recognise the strength, delerminalion and reSoUr￿lu1nesS it takes to just get by. We build on th& importanl roles people play in their family and community and support them to realise their dreams and aspirations. Ll ￿terM commitment.. Whereas pe￿istenI povety is enduring. complex and deeTrrooled, much of the support society offers is short-lerm, narrow and results driven. We are committed to accofflpanying people over the long Tun, moving fofward with them at their own pace and building our projects around their hopes and ambitions. Givin eo LLle a vc>i e. The socio-political debate on poverty rarely includes those who are the most affected, even though their knowledge and insight is vital. We believe that everyone's voice mallers and that people living In persistent poverty should have the ¢han¢e to speak out on issues that concern them. Vvorkin collaboralivel - We are not a traditional service provider. The ATD Fourth World Community include full-lime core workets, families living in persistent poverty, supporters and volunteers. All are enwuraged to gel involved in every aspect of what we do, from project planning lo evaluation, from fund-raising lo campaigning, from administration to governance. Page 4 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - contsnued OUR MAIN ACTIONS AND PROJECTS CARRIED OUT IN 2023 The main projects undertaken in the year are shown in note 17 of these financial statements and further details of these activities are described in the company'5 Annual Re￿IeW. which is sent lo supporters. All acb'vities continue lo be supervised by the Board of Directors al regular Board meetings held five limes in the year. through the receipt of regular financial and activity reports and by discussion with management. The directors also hold an annual away day. T eth8rin Di nit - Outreach Res le and Peer Su rtPro ramme Today. families experiencing persistent poverty and social exclusion in the UK need more support than ever lo ensure their well-being and provide a better future for their children. The challenges faced by these families are complex, including.. poor health., inadequate housing with little access lo recreation,. a lack of regular or decent employment,. financial emergencies often linked to debt or housing arrears". and a lack of opporlunilies for educational and cultural development. Our Togelher in D5gnily programme provllotes well-being, community and agency by offering individuals and families opportunities for rest and fecuperation, the chance lo contribute to voluntary action, as well as to benefit from solidarity and advocacy in times of crisis. It incorporates two projects grouping different actions. Pro ecl 1- Communi Outreach & Peer Su ort ATD Fourth World believes that a key component towards overcoming poverty is to encourage families living in long-term poverty to engage in Community lif& and lo access services offering appropriate support. Centr81 lo achieving this goal is a commitment lo reaching the hardest lo rea¢h families and recognising the roles they already play in theii neighbourhoods and communities, accompanying them through crises and strengthening their support networks. Using a family-led approach, we help professional agencies engage beller with the concerns of parents and ¢hildren and increase families, access to local support servicès as well as soci81 and cultural actimh'es At the same tirne, we introduce families to ATD Fourth World's family network, which provides solidarity, advice and understanding from peers who have faced many of the same strL¢ggles. Our Community Outreach and Peer Support project tackles the issues that surround persistent povety and social exclusion, such as misaligned social seNices interventions. a stringent benefits System, limited employment opportunities, and isolation and loneliness. "When you get support from A TD Fourth Wortd, you re in a relationship with a whole bunch of other people. It lasts because A fD believes that families have huge potenlial and Ihal they might not17ave had the chances or the opportunities in the past but, given those, things can happen." Page 5 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - conlir¢ued This year our focus has been on Integrating with new families with young children (￿nfant5 and primary school age) in the London borough of Southwark and in the bofough of Surrey Heath. Eleven new families have been introduced to the ATD family ne￿Ork since 2021, through referrals via partnerships with other organisalions (Southwark Parents and Communities Together and Surrey Heath Home-starll, as well as through peer referrals from existing members of our network. Our team are working on a regular basis with around twenty-five families. Pro ect2- lin Awa From It.. holida from Our Getting Away Frt>m It project strives to offer families and adults time away fTom the day-tO- day pressures and anxieties of a life in poverty as well as an opportunity to share expeiiences, strengthen relalionships and form new friendships. The residential breaks al Frimhursl Family House in Surrey, hand-ln-hand with regulaf day-th.ps and cultural outings Ihroughoul the year. enable families to invest in aclivib'es and workshops together alongside others in similar situations in order to feel parl of 3 wider community. Promding positive experien￿5 for children, young people and families can, in link with other aspects of our Family SupFK)rt Programme, act as a foundation for the longer-lemi relationships necessary to tackle the more challenging issues faced by families. Sel in its own woodland grounds. Fr¢mhurst Family House is a modernised, Victorian manor house boasting facilities such as a library, an arl studio. games room, nursery, computer suite and four purpose-buill family apartments. 'Once you get to Fri￿hu[St and you see the open grounds and greenery. you re tot811y relaxed. You'v8 left your problems behind for a liltle while. It's a chance to recharge the batteries,. for th& children to play and for the parents not to worry about them. It's an opportunity to spend quality lim8 as a fan7ily.~ In 2023, we continued welcoming families or groups of isolated adults to Frifflhurst fDr residential well-being breaks and day-trip outings.. five family well-being breaks, Iwo adult well-being b￿3￿$, and seven days out took place at Frimhursl or London ovei the Course of the year. Ten well-being days lor families and five well-being days for isolated adults took place at Addington Square in London. Finally. we ran a monthly community well-being group in Fellham and, Irom June, a fortnighlly well-being day al Frimhurst for asylum seeker families accommodated al the Lakeside Centre in Frimley Green. Page 6 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS continued Givin Pove Poli Parti ramme The Giving Poverty a Voice - Po5icy. Parb"cipation and Training Programme IGPAIQ empowers people in povety lo build their knowledge and express their ideas on issues that affect them. By providing people th the confidence and skills wth which lo campaign and speak out publicly, the programme builds Individual and collective activism_ Together, our activists work with our allies In the anti-povety, human rights and social Wcprk fields lo influence research, policy and praElice by engaging, through a participatory approach, with academics, F)olicy-makers and practitioners in the public debate on finding solutions to poverty. The programme is comprised of three projects". Understanding Povety, Poverty Experts and the Right lo Family Life. Pro ecl 3 - Understandin Pove The Understanding Poverty project aims to Create a peer nehwork of community activists with lived experience of poverty and equip them with the knowledge, skills anoj Confiden￿ to share their individual and collective knowledge in the public debate on povety. Using p8rticipalory methodologies, we help participants to explore the issues that affect them iri their daily lives and lo connect their knowledge and experience to current debates in policy. research and practice. The projeel provides participants with opportunities to meet, think and train with their peers, thus creating a peer support netrNork which strengthens their individual and collective voice. This year saw us hold four residenbal sessions for a group of eighteen ATD Fourth World activis15 with lived experience of poverty. The sessions focused on activist development and capacity building. Fifteen people took part regularly in GPAV monthly meetings in London, which serve to inlrcKluce new participants to the programme. These thematic meetings took place 10 times during the year. Three GPAV participants also look part in regulai on-line meetings to develop the Addiessing Poverty with Lived Experience IAPLEI Collective, where ATD Fourth World is a founding member. The Collective is an initiative lo amplify the voice of lived experience led grass iools anli-poverty charities and is funded by Joseph Rowntree Foundation. We hosted one wideT meeting of APLE members at Frimhurst in June. Two lived experience aclivlsts have continued lo receive valL¢able media training as part of a Trust for London sponsored project called "Talking AboLtt Poverty" run by the charity Heard Iformerly On Road Medial. Five ATD aclivisls are members of a steering group for a project on promoting a rights- based understanding of poverty run joinuy wilh Just Fair, Amnesty Inlernalional, and the University of Essex Human Rights Centre. This project grew in 2023 lo become the Growing Rights not Povety Project IGRIPP https.1lgripp.org.uklabout-usll which brings together several organisalions to mobilise around the 7th United Nations Review of the UK'S performance as a signatory of the United Nations International Covenant on Economic, Page 7 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - continued Social and Cultural Rights IICESCRI. Within GRIPP, ATD activists also participated in the ongoing Action Learning Sel a space created for grassroots organi2alions IATD Fourth World. Intesaar, RAPAR, and Thrive Teessidel lo come together and Share challenges, questions. and solutions. One particlpant reflected.. '1 had th6 privil￿e of being a part of an amazing group of individuals in an Action Legrning set. It follows the principle of 'a problem shared is 8 problem halved.- Action Learning sets bring together ppople who have encountered similar problems, alltswing them to explore pofr8nlial solutions, lest tljem out, and furtheTdevelop their ideas. [...]As a r8fug8e, this experience has brought about much- needed sell-8W8renESS. It has allowed me to r￿aIn the power I had lost during the asylum process. My eyes have been operFgd, and l am now abla to reflect on the changes I would like to see implemented., Pro ect 4 - Povert Ex erts.. Challen in Perce tions of Pove The goal of our Poverty Experts project is to create and promote participatory opportunities and platforms lor aclivisls wtth lived experience of F)overty to engage in the public debate around F)overty. The ￿1n aims are to increase public undefslanding of the issues, an(J lo influence opinion. The project targets the general public, as well as specific audiences involved in the policy, practice and research fields who wish to deepen their Jnd&rstanding of poverty and participation. Poverty Experts enables participants lo demonstrate direcuy Ihe value 8nd effectiveness of lived experience in the search for solutions to poverty. The Poverty Experts project builds on the success of The Roles We Play, which spanned ten years. Participants worked hand in hand with team members to design. coordinate, conduct, and evaluate a project to Challenge stereotypes about people in poverty. Involvement in The Roles W& Play allowed many ATD Fourth Wi)rtd actimsts with lived experience of poverty lo build core skills in public speaking. and workshop facilitation, culminating in roles such as panellists, mediators. and facilitators al some of our largest public events. In 2023, notable achievemellls were spearheaded by ATD'S Youth Voices, project, which was selected by the British Inslilule for Human Rights lo create a Community Support Solution. With support from BIHR staff, the young people Q￿produCed a resource to show others their age how to advocate for their own rights. They said.. As a group, w8 are most proud of th& step-by-step guide to wh8t to do if your rights arg being violated. For us, inclusivity was also very important. Resources like this are not often accessible for young people or for people with disabilities. Therefore. we tried our very best to make it as aCceS￿bIe as we Gould, by adcling both QR code and web links to an easY-￿ad version. and by wriling &verylhing in plain English with no Jargon.. Page 8 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - ¢onlinued Other important 'Poverty Experts, events this year included." meeting with the Poverty Strategy Commission," speaking lo officials at the Council of Europe in Slrasbourg as part of a European Youth Campaign and creating an advocacy document," helping Amnesty International to prepare a 'lived-experience manifesto and, with support from the People's Company, writing and performing an original play at the Soulhwark Playhouse. My Soul Is Tired,. Proect5-R ht lo Famil Life.. resha in the child rotection s stem ATD Fourth World's Right lo Family Life project seeks to bring families living in poverty, together with academics and social work practitioners through a series of platforms for dialogue that reftect the needs and concerns of service users while explorlng innovative new ideas and proposals Ior change coming from those working in the child protection system. Vvilh the voices and thinking of families with experienee of social service intervention at the fore, the project is based on three dislin¢l bul complementary actions. A half-day poverty-awareknpraclice workshop, delivered with the a¢live participation of parents wilh experience of social Servi￿ inlervenlion. examines how poverty affects families and social work practice and is aimed at newly qualified professionals such as social worker5, clinical psychologists, and public or third sector frontline staff as well as final year and post-grad students. The workshop interactively explores the multi-dimensional nature of pgvety and encourages reflective practice as part of a positive dialogue wlh piaclitioners and students. 2. Social Wofk study groups bring together academics, social workers, parents apKi professionals in the social care and legal fields to discuss and debate key issues faced by social work. In covering topics such as the relationship be￿eer¢ poverty and shame, the impact of material depiivation upon social work practice and the politics of recognition and Tespect, the format serves to broaden perspeclives and deepen thinking using ATD Fourth World'5 Merging of KNowledge approach. 3 We also engage with the widef social work and legal fields through presentations at ¢onferences, contributing to ongoing research and having articles based on our work published by respected academic joumals. In 2023, we ran four anb'.povety pra¢ti¢e workshops for social workers students at Royal Holloway Univefsily of London, Birmingham University, and Brunel Univeisity. In addition. we ran anb'.pDverty praotice workshops for media studies staff and students at Liverpool John Moores University, for residential staff at the Lilias Graham Trust. and for social workers in the London Borough of Southwark. A group of fouF parent activists from ATD Fourth World played an active rote in the Parents Families and Allies NetWDrk IPFANI, contributing lo a number of on-line events and webinars, as well as taking leading roles in the organisalion's inclusive governance model. We also ran three study groups on poverty, Page 9 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - eonlinued social work and V)e right to family life, covering themes of.. the use of language,. family law,. discrimination linked to disabilities and to racism,. and yOLJlh voices. In an 8-p8ge cover story featured in the Summer 2023 issue of AFnnesty UK'S magazine for members, an ATD lived experience activist was inteNiewed about how the Child piolectson system is failing familie8 in poverty.. 'Poverty gets confused wi.th neglect. 11 is shameful that th& poorer you are. Iho more likely you a￿ to have your children forcibly taken from you. You see this around the number of children placed in c&r& or put up for forced adoptions. Its 811 about what are the risks Irom the parents. not what are the risks from social services_ lntervfjn1￿ns arpd separation from your f8mily actually has an opposite eff&¢t on childTrn and faMil￿S in need of support by causing further trauma.~ Volunteers Our volunteering saw more than 4000 volunteering hours recorded for the charity in 2023 by over 50 individuals and half a dozen different gTOUPS. The source of volunteers was diverse including.. re9ular weekly volunteering". Frimhurst Community volunteering group- and company volunteering days. Among the tasks Complet￿ were.- translation and Iranscribing-, administration., grounds work-, buildings mainlen8nce,' painting and decoration., gardening.. support for fundraising event., and running creattve workshops during well-being break5. FUTURE PLANS Mana emenl Structurè and Stra Go At the initiative of the directors, ahead of planned changes In the charity's senior staff team in 2024. a full review of the charity's strategi¢ 90815. inclusive govemance policy, and the organisation's day-loday management strL¢clure was undertaken in 2023 and completed in the second quarter Df 2024. F(Illowing this review, ATD Fourth World UK ry)w has a new National Leadeiship Team INLTI wth a fresh mandate lo lake the organisation through the next five years. The members of the NLT are Murielle Double (Senior Support Worker based at Frimhursl Family House), Tish Mason IDirectOfl, and Lareine Mouoguia la senior ATD Fourth World activist with lived expeiience of poverty). Their mandate will start from the 1st of June and continue lo the 31 st of May 2029. Tish Mason has been Chair of the Company Board for eight years. sin￿ she has joined the NLT, she is stepping down from this role. Fellow Director, Simon Haworth, is Chair Elect awaiting official confirmation al the quarterty Board at the meeting in June 2024. Page 10 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - ¢onlnued The Nats'onal Leadership Team will lead in delivering the current strategic goals of ATD Fourth World Ltd as agreed al the annual Awayday. The Awayday brings together slalt, trustees, key supporters. Five goals for the period 2024 to 2029 were formally approved by the Company Board, after input and consultation with allies, partners, and beneficiaries on 13th June 2023.. Goal 1- Deepen our model of Inclusive Governance {policy signed off and embedded) Goal 2 - Strengthen the Together in Dignity programme. Goal 3 - Build on the success of Giving Poverty a Voice progTamme. Goal 4 - Make ourselves more financially sustainable. Goal 5 - Expand the ATD Fourth World Community The vision of ATD Fourth World UK remains the same - a world without persistent poverty, wher& everyone is valued. can participate fully in society, and fulfil their potential. The NLTS purpose is lo build on whal tias already been achieved, supporting the programmes Together in Dignity and Giving Pover Voice, and events around October 17th, Ihe World Day foi Overcoming Extreme Poverty. The 2024-2029 timeframe will also be key to confirm a sustainable plan to run. manage, and use in appropriate ways the two major properties ATD Fourth World Ltd Ilhe national centre in Addington Square and Frimhursl Family House) leased from the ATD Fourth World Trust la separate and independent charity which owns the freeholds of the two properiliesl and the NLT will play a key role in facililaling this process Outreach Strat We have continued to Invest in developing our outreach strategy. It is imperative for ATD Fourth World lo continue to meet ar)d engage with new families and individuals slrijggling ￿th poverty today. Vve plan lo maintain and strengthen this work over the coming years, by reaching out through diverse projects and en9aging in new relal'onships with people who are often left behind. We also plan lo build on the local community network based around Frimhurst Family House and Addinglon Square as avenues of outreach. To this end, we aim to slrenglhen the Together in Dignity team through recruilmenl and training as well as revamp the monitoring and evaluation plan for the pmgramme. This will help us to demonstrate the impact of our work directfy supwting families and attract new funders and donors to the programme. RESERVES POLICY To allow for the possibility of an unexpected reduction or delay in the receipt of donations, the directors consider it prudent for the charity to maintain reserves al a level which will allow activity to continue, albeit on a reduced basis, while a ￿SponSe to the situation can be considered and aclioned. Therefore. it is planned to establish reserves sufficient lo provide for the following expenditure in such a situation.. Page11 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - continued the costs of keeping oper¢ the two propertie5 which are essential lo the Charity's activity such as rates, light, heat, phone, electricity elc. for six months ahead the costs of materials, transport etc. to enable already funded projects lo be completed the salaries of key employees for six months ahead. laking accoLtnt of the Charity's ability to promptly end or defer the secondee arrangements of outsourced pe￿Onnel. The reseTve level fieeded for the above is Currently estimated to be in the region tsf £130.000. FINANCIAL REVIEW The charity's income is mainly derived from grants and donations which made up £485,638 12022.. £342.5141 of ils total incoming resour￿$ of £543,449 12022.. £390,807). The trustees spent £511,777 12022.. £410,988> on charilable activities and £3.74412022'. £3,193) on fundraising, resulting in a surplus of £27,928 {2022'. a deficit of £23,374). At the year end, the chaiity held funds 01 £171,452 12022. £143,524), of which £158,898 12022.. £126,425) were attributable to unrestricted funds and £12,554 12022: £17,099) were attributable to restricted funds. FUNDRAISING STANDARDS INFORMATION The charity raises tunds from the general public via donation aP￿alS on its website. Donations are received via cheque or direct debiustanding or(ler. The charity does not carry out any direct fundraising activities such as bucket collections or lelemarkeling. STATEMENT OF GOING CONCERN The directors have assessed the financial wsition of the company, ils cash flows and its liquidity position. Unrestricted funds in the current year amount to £158,898 12022." £126,425). After reviewing the cash balances and projecled cash flows, the directors believe that the Company has adequate resources to continue operations for the foreseeable future being not less than 12monlhs from the date of these financial statements. Thus. they continue to adopt the going concern basis in preparing the annual financial statements. Page 12 ATD FOURTH WORLD LIMITED REPORT OF THE DIRECTORS - continued STATEMENT OF DIRECTORS. RESPONSIBILITIES Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the Stale of affairs of the chanly and of the surplus or deficit of the charity for that period. In preparing these financial statements. the directors are required to., select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and Pfudent., prepare the financial stalements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation,. slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the finar)cial slatements. The directors are responsible foi keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and which enable them lo ensuie that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasDnable steps for the p￿VentIOn and detection ot fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and othef information included in Directors, reports may differ from legislation in other jurisdictions. SMALL COMPANIES EXEMPTION The above report has been prepared in accordance with special provisions of Part 15 of the Companies Act 2006 relating lo small companies. 48 Addinglon Square London SE5 7L8 BY ORDER OF THE BOARD Thomas Croft Secielary Page 13 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ATD FOURTH WORLD LIMITED (the 'comparsy'l I report lo the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2023. This ieport is made solely lo the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulation5 2008. My work has been undertaken so that I might state lo the company's Trustees those matters l am requiied to stale to them in an Independent examiner's report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for tny wotk or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the company {and its directors for the purposes of company lawl you are responsible for the preparats.on of the accounts in accordance with the requirements of the Companies Act 2006 {'Ihe 2006 ACVI. Having Satisfied myself Ihal 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 accounls 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 145151(bl of the 2011 Act, INDEPENDENT EXAMNER'S STATEMENT Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, whi¢h is one of the lisled t)odies. I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in fespect of the company a5 required by section 386 of Ihe 2006 Act.. or 2 the accounts do not accord with those records., or 3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair. view which is not a matter considered as part of an independent examination,. or 4 the accounts have not been prepared in accordance with the methods and principles of Ihe Slalemenl of Recommended Practice for accounting and reporb.ng by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)] Page 14 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ATD FOURTH WORLD LIMITED (the 'company') continued I have no concerns and have come across no other matters in connection wlh the examination lo which attention should be drawn this report in order to enable a proper understanding of the accounts lo be reached, RPG Crouch Chapman LLP 40 Gracechurch Street London EC3V OBT Jeremy Tyffell {BA{Honsl, FCA Page 15 ATD FOURTH WORLD LIMITED COMPANY NUMBER." 654676 STATEMENT OF FINANCIAL ACTIVITIES ST FOR THE YEAR ENDED 31 DECEMBER 2023 INCOME AND EXPENDITURE Unrestrided Funds Restricted Funds Total 2023 Total 2022 Notes Income and endowments from Donations and legacies Charitable acl¢vilies Investments Other Income- Legacy 424.847 43.249 1,827 60,791 12,735 485,638 55,984 1.827 342.514 44,555 768 2,970 Total 469.923 73,526 543.449 390.807 Exp•ndlture on Raising Funds Charitable Activities 3,744 433,706 3.744 511,777 3,193 410.988 78,071 Total 437.450 78,071 515.521 414.181 Net incomellexpenditurel 32,473 {4,5451 27.928 123,374 Transfer betsveen funds Not movement In funds 32,473 (4.545) 27.928 123,3741 Reconcilliation of Funds Total fund5 brought forward 17 126,425 17,099 143.524 166.898 Total fynds ¢arried forward 158,898 12.554 171,452 143.524 The Statement of Financial Activities includes all gains and losses reco9nised in the year. Page 16 ATD FOURTH WORLD LIMITED COMPANY NUMBER: 654676 BALANCE SHEET FOR THE YEAR ENDED 31ST DECEMBER 2023 Unrestricted Funds Restricted Funds Total 2023 Total 2022 Notes Flxed Assets Tangible Assels 8.913 1,946 10,859 3.826 Current Assots Debtors Cash at bank 8nd in hand 12 24,119 189,126 2 13.245 24,119 199,735 223,854 16,195 159.775 175.970 14 10,609 10,609 Croditors: Amounts falling due within one year 13 63,261 63,261 63,261 63,261 36,072 36,072 Net Current Assets 149.984 10,609 160,593 139,898 NET ASSETS 158,897 12,555 171,452 143,524 Fund$ ofthe Charity Unrestricted funds Restricted funds 158.898 158.898 12.554 126,425 17.099 17 12.554 TOTAL CHARITY FUNDS 158,898 12,554 171,452 143,524 The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The Trustees consider that the company is entitled to èxemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 20061"Ihe Acl l and members have not required the compally lo obtain an audit for the year in question in accordance with section 476 ot the Act. The Trustee5 acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the p￿paratiOn of financial statements. The financial slalements wère approved and aulhorised for issue by the directors on and signed on their behalf by.. Letslia Mason DIRECTOR rtraud Trivedi DIRECTOR The notes on pages 17 to 31 form part of these financial slat@menls. Page 17 ATO FOURTH WORLD LIMITED COMPANY NUMBER. 654676 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operating activitles Nel cash used in operating activities 48,155 130,2771 Cash flows from investlng actlvltles P￿CeedS from the salel disposal of tangible fixed assets PuFcha5e of tangible assets 300 18,495 Net cash (used inllprovided by investing activities 18.1951 Change In cash and co$h oquivalents In the year 39.960 130,2771 Cash and cash equivalents at the beginning of the year 159,775 190,052 Cash and cash gquival&nts at the end of th& year 199,735 159,775 Page 18 ATD FOURT+4 WORLD LIMSTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER2023 GENERAL INFORMATION ATD Fourth World Limited is a company limited by gua¥anlee incorporaled and registered in England & Wales, ￿rnpanY number 654676. Its registered office address is 48 AddtnglL)n Square, London SE5 7LB. The pfincipal activity of the company c¢)nlinued lo be the prevenlioTr ￿ relief of poverty through actions that tackle inequality and promote social justice. 2 ACCOUNTING POLICIES These accovnls have beeri prepared under the historical Cost convention with items recognised al cost or transaction value unless othemse staled in the relevanl r¢otes lo these accounts. Thè a¢counls have been prepared in accordance with the Statement of Recommendeth Practice.. Accounting and Reporting by Charities preparing their accounts in accordanee w41h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} effective 1 January 2019 and with the Ch8ritie5 Act 2011. The charity has oplecl to early adopt Update 8ulletin 1 of the Charities SORP IFRS1021. The charity ¢onstilules a public benefit entity as defi'ned by FRS 102. Re ortin enc The repo111￿ cutrency is GBP and all amounts in the financial ststements are rounded to Ihe nearest £. Financial instruments The Charity only enters into basic financial instruments Iransaclions that resutt in the recognition of financial assets and liabilities like trade ènd other aecounls receivable and payable, loans from banks and other third parties, loans to related parlies and inveslmenls in non-puttabje ordinary shares. Incom and Ex ndilure All the information required lo be disclosed is shown in the Statement of Financial Activiltes of the ompany. Page 19 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS continued Incom Income consist of grants, donations. fees 8nd conlributiori8 receivablo during the year together with interest received. Grants covering specific projects are attributed to the ￿cOUntIng period lo which they relat$ unless required otherwise by the SORP {FRS102). endilure Resources expended are accounted for on an accrLtals basis. Certain expenditure has been apportioned where necessary bètween categories in accordance with the best eslimales of the directors. recialion All MoloT Vehicles and other assets costing over £2,000 lor any one Item are c8Pitalised. Deprttciatson is provided at the following annual rates in order lo ￿tte off each asset over ils eslimaled useful lffe.. Motor vehi¢les Fixtures and equipment 25V/b on cost 20QA on cosl No deprecialFon is charged in the year of acquisition. men in ies nd urce of estima un ert in In Ihe applicalion of the Charitys accounting policles, the Direct¢)ts are required to make judgements. estimates and aSSLFmplions about the carrying amounts of assets and liabilities that are not readily apparent Irom other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The estimates and undertying assumptions are revtewed on an ongoing basis. Re￿SlO￿$ to accounting eslimalos are recognised in the period in which the estimate 15 revised if the revision affects only that period, or in the period of the revision and future periods if the revision affocls both current and fulu¥e periods. The Difectors have Concluded that there are no key sources ol est'malion uncertainly in the current or prior year. Page 20 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS continued nd accountin Geneial funds are unrestricted funds vthich are available for use at the discretion of the Oirectors in furthe¥ance of the general objectives of the company and which hav& not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Directors for particular purposes. The aim and use of each designated fund is set out in the noles lo the finar¢¢ial stslemenls. Restricted funds are funds which ale lo be used in ￿COrdanCe wilh speclf4c restrictions imposed by donors or which have been raised by the company tor particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and u$e of each reslricled fund is sel out in the note5 to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. lftteresl re￿1vable Interest on funds held on deposit is included when receivable 8nd the amount can be measured reliably by the company.. thi5 is normally upon nolificalgon of the interest paid or payable by the Bank. Debtors Trade and other debtors are rocognised at me settlement amount. Prepayments are valued at the amount prepaid. Cash and cash e uivalents Cash is represented by cash in hand and deposits wth financial inslilulions repayable wilhotjt penaliy on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than Ihfee month5 from the date of acquisition and that are readity convertible lo known amounts of cash with insignilicanl risk of change in value. Page 21 ATD FOURTH WORLD LIMITED OTES TO THE FINANCIAL STATEMENTS - continued Liabilities and rovi8ions Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past evenl, il is probable that a transfer of economic benefit will be required in s$tUement. and the amount of the setdement can be estimated reliably. Liabililies are recognised at the amount that the company anlicipales il will pay to settle ihe debt 01 the arnounl il has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts. discounted al the pre-tax discotsnl rale Ihat reflects the risks specrf5C to the liability. The unwinding of the discount is recognised within interest payable ané SHnilar charges. Forei n curfencies Monetary assets and liabilities denominaled in foreign currencies are translated into sterling at rates of exchange ruling 8t the balance 5heEI dale. Transactions in to￿19￿ currencies are translated inlo sterling at the rate ruling on the dale of the tTansaclion. Exchange gains and losses are recognised in the Stat8menl of financial activities incorporating income arKI expenditure account. Page 22 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS continued INCOME FROM DONATIONS & LEGACIES Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Current Year Grants Donations 400.000 24,847 53,500 7,291 453,500 32,138 424,847 60,791 485,638 Unreslricled Funds 2022 Restri¢led Funds 2022 Total Funds 2022 Prior Year Grants Donations 280,000 24,968 33,214 4,332 313.214 29.300 304,9S8 37,546 342,514 Page 23 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued INCOME FROM CHARITABLE ACTIVITIES Unreslricled Funds 2023 Restricted Funds 2023 Total Funds 2023 Current Year Consultation fees Room hire Sponsored activities and fundraising events Conlribulions family support Contributions policy, participation 8nd training OtheT sales Reimbursements 9,450 15,550 soo 725 10,175 15,550 3,016 7.880 1,539 75 17.749 2,516 7,880 1,539 75 17,749 43,249 12.735 55,984 Unrestricted Funds 2022 Reslricted Funds 2022 Total Funds 2022 Prlor Year Consullalion fees Room hi Sponsored activities and fundraising events Contributions family support Corslributions policy, participation and training Olhei sales Reimbursements 5,720 16,756 5,720 16,756 2.150 8.272 3,822 90 7,745 44,555 2,150 8.272 3.822 90 7,745 30,311 14.244 INVESTMENT INCOME Unreslricted Funds 2023 Reslrieled Funds 2023 Total Funds 2023 Current Year Interest 1,827 1,827 Unrestricted Funds 2022 Restricted Funds 2022 Totab Funds 2022 Prlor Year Interest 768 768 Page 24 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued 6 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Current Yèar Direct salaries SeNice costs Utilities and rent Maintenance of buildings Communications Printing and slalionery Mainter¢ance of equipment Travel Motor costs Project materials Fees Support costs 64.560 140,326 56,524 50,588 4.148 4,198 187 25,334 11,672 12.665 7.445 56,059 433,706 49,881 4.234 10.222 3,812 122 114,441 144,560 66,746 54,400 4.270 4,198 187 26,024 12,899 18,050 9,179 56,883 511,777 690 1,227 5,385 1,674 824 78,071 EXPENDITURE ON CHARITABLE ACTIVITIES Unreslficted Funds 2022 Restricted Funds 2022 Total Funds 2022 Prioryear Direct salaries Service costs utilities and rent Maintenance of buildings Communications Printing and stationery Maintenance of eqLtipment Tfavel Motor costs Project materials Fees Support costs 45,650 116,557 35,284 55.997 4,442 2,761 91 13,267 10,441 9,155 9,015 52,661 19,609 65,259 116,557 46,618 60.189 4,499 2,761 91 19,697 12,625 17,917 11,292 53.483 11,334 4,192 57 6,430 2,184 8,762 2.277 822 355,321 55,667 410,988 Page 25 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS conlirbued 7 SUPPORT COSTS Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Current Year Independent examinels fees Bank charges Depreciation Accounts staff costs offi￿ equipment Insurance 3,570 694 138 29.128 2,532 19.997 3,570 694 962 29,128 2,532 19,997 824 56.059 824 56,883 Unrestricted Funds 2022 Restricted Funds 2022 Total Funds 2022 Prior Year Independent examiner's fees Bank charges Depreciation Accounts staff costs Office equipment Insurance 3,402 689 441 28,056 773 19,300 3,402 689 1,263 28,056 773 19,300 822 52,661 822 53,483 Page 26 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS - conb'nued NET INCOMEIIEXPENDITUREI 2023 2022 Net incomellexpendilurel is slated after charging.. Depreciation of tangible fixed assets owned by the charity 962 1262 During the year. no direclgr recerved any remuneration12022.' Nill. During the year, no director received any benefits in kind12022.. Nill. During the year. no directors re￿iVed any reimbursements of expenses12022'. Nill. INDEPENDENT EXAMINERS, REMUNERATION 2023 2022 Fees payable to the charity's independent examiner 3.570 3,372 10 STAFF COSTS 2023 Number 2022 Number The average number of persons employed by the charity during the year was as foll¢)WS A further ten people worked for the charity on an oulsour¢ed basis. Their cost is shown under ServTce Costs in Note 6. There were no empk)yees with remuneration exceeding £60.000 per annum. Apart from the directors, key management personnel comprise the national coordinator. The aggregate remuneration ol key management amounted lo £10,93012022.. £10,474). 2023 2022 Wages and salaries National insurance Pension 135,553 4,928 3,088 90,454 882 1,979 143,569 93,315 Page 27 ATD FOURTH WORLD LIMITED NOTES TO THE FINANCIAL STATEMENTS - conbnued 11 TANGIBLE FIXED ASSETS Motor Vehicles & Equiprnent COST Al 1st January 2023 Additions Disposals At 31st December 2023 15,563 8,495 11.2001 22,858 DEPRECIATION At l January 2023 On Disposals Charge for the year Al 31 sl December 2023 11,937 19001 962 11,999 NET BOOK VALUE At 31 sl December 2023 10,859 At 31 st December 2022 3,626 12 DEBTORS 2023 2022 Trade debtors Other debtors Accrued Income Prepayments 7,621 1.249 3,013 1,658 15,249 11,524 24,119 16,195 13 CREDITORS 2023 2022 Amounts falling due within one year . Trade creditors Other creditors Accfuals 6,400 42,017 14,844 1,379 27,608 7,085 63,261 36,072 Page 28 ATD FOURTH WORLLI LIMITED NOTES TO THE FINANCIAL STATEMENTS continued 14 CASH AND CASH EQUIVALENT 2023 2022 Short term deposits Cash at bank 75,000 124,735 75,000 84,775 199,735 159,775 15 TAXATION The charity's activities fall within Ihe exemptions afforded by the proirision5 of the Taxes Act 1988. Accordingly, there is no laxalion chaige in these accounts. 16 PENSION During the year, the company paid pension conlributsons into a defined contribution pension scheme amounting to £32,609 12022.. £20,385). Pension contributions are initially made by ATD Fourth World Trust, an enlily which the company shares its staff with, and are re