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2023-03-31-accounts

Charity No. 226748

ROYAL COMMONWEALTH SOCIETY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023

ROYAL COMMONWEALTH SOCIETY FOR THE YEAR ENDED 31 MARCH 2023

Charity Number 226748 Operational address 65 Basinghall Street, London, EC2V 5DZ Registered Office 40-41 Pall Mall, London, SW1Y 5JQ Chair Dr Linda Yueh Treasurer Paul Green Trustees Paul Green Sarah Haidry David Stead Dr Linda Yueh Principal Staff Nathan McKenzie (resigned 13 March 2022) Elizabeth van der Valk Bankers Coutts & Co 440 Strand, London, WC2R 0QS National Westminster Bank PLC 208 Piccadilly London W1A 2DG Investment Advisors Schroder & Co Ltd 100 Wood Street, London, W1A 2DG Auditors Goldwins Limited Chartered Accountants and registered auditors 75 Maygrove Road West Hampstead London NW6 2EG

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present the audited financial statements for the financial year ended 31 March 2023.

Reference and administrative information as set out on Page 2 forms part of this report. The financial statements comply with current statutory requirements, the Charities Act 2011 and the Statement of Recommended Practice Accounting and Reporting by Charities (2015).

Governance

Following His Majesty The Accession, the Royal Household is conducting a review of Royal Patronage. The review will cover the organisations of which Her Majesty Queen Elizabeth II was Patron and those organisations to which The King and The Queen Consort were connected through Patronage or Presidency as HRH The Prince of Wales and HRH The Duchess of Cornwall. Until then, the Society has been asked to reflect The late Queen as Patron and The former Duchess of Cornwall as VicePatron.

are His Highness the Aga Khan and the incumbent SecretaryGeneral of the Commonwealth.

The Society is governed by a Council, which serves as the Board of Trustees. The Council is responsible for the strategic direction, policy, and overall governance of the charity. The implementation of strategy, once agreed, and the day-todelegated to senior management.

No trustees had any beneficial interest in the charity and no remuneration of Trustees is paid by the charity.

Summary of Activities

2022 has been an extraordinary year for the Society, and for the Commonwealth. Through the Commonwealth Day Service at Westminster Abbey and the Platinum Jubilee Pageant, the Society was proud to contribute to the celebrations that marked Her late 70 decades of service to the people of the Commonwealth.

In June, Rwanda hosted the Commonwealth Heads of Government Meeting 2022. Governments, business leaders, civil society and youth leaders from across the Commonwealth gathered together to discuss shared challenges and opportunities for the Commonwealth. As Secretariat to the Commonwealth Youth & Gender Equality Network, we were delighted to support the launch of their Commonwealth Knowledge Hub, a digital resource for youth advocates across the Commonwealth. We were also honoured to host an official side-event promoting the importance of literacy which was attended by HRH The Duchess of Cornwall and the First Lady of Rwanda. At the opening ceremony for Heads of Government, HRH The Prince of Wales announced pan-Commonwealth commitment to The we serve as managing partner.

The first Commonwealth Youth Exchange came to a conclusion with participants coming together in Cyprus in May 2022 to share the results of their social action projects. During this visit our young leaders had the opportunity to meet with civil society, government and members of the Commonwealth diplomatic community as well as visit places of cultural and contemporary importance. The success of this programme continues to grow and our partnership with Clarion Futures continued with a second programme launched in September 2022 between youth aged 18-25 in Malta and the United Kingdom. We were also pleased to partner with Cumberland Lodge to deliver the first phase of this programme. Through physical and virtual exchanges in the UK and Malta (January 2023), these young leaders have also had the opportunity to develop and deliver social action projects focused on addressing our shared climate challenge. During the exchange, the Malta participants were privileged to meet and discuss their work with His Excellency Dr George Vella, President of the Republic of Malta.

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

Following the passing of the Patron Her Majesty Queen Elizabeth II in September 2022 and The efforts to improve the lives and prospects of Commonwealth citizens around the world by delivering virtual, hybrid and physical activities and events in line with its 2020-2025 Strategic Plan.

With the continuing support of Her Majesty Queen Competition (QCEC) achieved a record-breaking 26,300 entries from across the Commonwealth, inspired by the seven decades of service of the late Queen Elizabeth II. The Society was also delighted to once again deliver a week of educational and cultural activities for the Winners and Runners-up of the QCEC 2022 which culminated in an Awards Ceremony at Buckingham Palace, at which Her Majesty The Queen Consort delivered her first official address in November 2022.

Finally, the Society was honoured to convene representatives from across the Commonwealth family at Westminster Abbey on Commonwealth Day for His Majesty The first Commonwealth Day Service as Head of the Commonwealth in March 2023.

2022-23 has been a year of great change for the Society and for the Commonwealth but the charity continues to progress towards achieving its charitable objectives, and the following report details the range of ambitious and effective programmes and outreach activities in which the charity has been engaged.

ACHIEVING OUR PROGRAMMATIC OBJECTIVES

CONNECTING COMMUNITIES

The need for the shared values and principles remains as great as ever before. Through our high-level events, advocacy and our international network, we champion the power of connected communities to build a better world.

Promoting Commonwealth values and connections Commonwealth Day

To mark Commonwealth Day 2023, His Majesty The first as Head of the Commonwealth, the Society hosted its annual Commonwealth Day Service of Celebration in partnership with Westminster Abbey.

This annual event celebrates the unity, diversity, and linkages of the modern Commonwealth and seeks to foster greater understanding of the achievements and role, particularly amongst its young people.

Guests of honour among the 2,000 strong congregation included the Commonwealth SecretaryGeneral, the Prime Minister of Samoa (next Chair-in-Office of the Commonwealth), Foreign Ministers and High Commissioners, senior politicians and dignitaries from across the UK and the Commonwealth, alongside athletes from the four home nations who competed at the Commonwealth Games in Birmingham 2022, faith leaders, and over 750 school children and young people from throughout the UK.

Upon Their arrival at Westminster Abbey, The King and The Queen Consort were met by the performed at the Great West Door ahead of the Commonwealth Service. The Service commenced with ealth Year of Peace, a specially designed Commonwealth Flag for Peace was also processed this year.

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

For the first time, His Majesty The King delivered his Commonwealth Day Message during the service of celebration at Westminster Abbey, in his new role as Head of the Commonwealth. This historic occasion, in the presence of senior members of the Royal Family, also featured musical performances from all regions of the Commonwealth including from saxophonist Yolanda Brown, West End stars Roshani Abbey and Nuwan Hugh Perera, and the all-female, Amalgamation Choir, from Cyprus. Chair-in-Office, having hosted the Commonwealth Heads of Government Meeting (CHOGM) in 2022, the Rwandan National Ballet, Urukerereza, also performed.

A reflection was given by young Samoan environmental advocate Brianna Fruean, who was the youngest recipient of a Commonwealth Youth Award aged, just 16 years old. Samoa is the incoming Commonwealth Chair-in-Office, and will host CHOGM in 2024.

Commonwealth of Nations and provides an opportunity to focus attention on this voluntary association of 56 countries and their commitment to promoting democracy, human rights, the rule of law and equality for its 2.5 billion citizens. The Commonwealth Day Service was broadcast live once again on BBC One, the BBC World Service and for 2023 on the BBC YouTube Channel allowing the event to be viewed by an international audience. Footage of the service remains available to Commonwealth citizens to view on BBC iPlayer and on the BBC YouTube channel.

High

Banquet

and industry leaders, raising the profile of this important institution and reinforcing the strong links between the UK and our Commonwealth family.

Delivered jointly by the Royal Commonwealth Society and the City of London Corporation since 2016, and in association with the Commonwealth Enterprise and Investment Council, this high-profile commitment to this international network.

Held in December 2022, the evening focused on the importance of tertiary and vocational educational links and services across the Commonwealth. Speakers included the 694[th] Lord Mayor of the City of London, Alderman Nicholas Lyons, Dr James Mwangi, Chief Executive Officer of Equity Group Holdings,

Commonwealth Youth Exchange Programme

Between April and May of 2022, the Society continued to work with its partners at Clarion Futures to convene participants in our Commonwealth Youth Exchange Programme (CYEP). This programme, piloted between participants in the UK and Cyprus came to a conclusion with a residential programme in Nicosia, Cyprus.

During this exchange participants had the opportunity to meet with members of Cypriot civil society, diplomatic community including the Commissioner.

Department for Foreign Affairs where they had the opportunity to discuss their social action projects with the Permanent Secretary Ambassador Korneliou, and Stelios Georgiades, Head of Cultural Diplomacy. With the pilot programme concluded, the Society looks forward to our continued engagement with these young community leaders as Associate Fellows of the Society.

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ROYAL COMMONWEALTH SOCIETY FOR THE YEAR ENDED 31 MARCH 2023

Building on this successful first exchange, the Society was pleased to continue its partnership with Clarion Futures to deliver a second CYEP this time taking place between participants in the UK and Malta. We were also pleased to partner with Cumberland Lodge in Windsor Great Park, a charity that empowers people, through dialogue and debate, to tackle the causes and effects of social division, to host the first residential component of the exchange. The CYEP 2022-23 was formally launched with all participants meeting at the Malta High Commission in London, hosted by His Excellency The High Commissioner before visiting the Commonwealth Secretariat in Marlborough House for an introduction to the Commonwealth. Once at Cumberland Lodge, our young leaders were introduced to the notion of social action and asked to develop group-based social action projects focused on the environment.

An exchange in Malta in January 2023 built on the knowledge and tools they had acquired whilst at Cumberland Lodge. Through a series of meetings with government departments and diplomats including His Excellency The President of the Republic of Malta, the Ministry for Housing and the British High Commission, participants were inspired to further develop their social action projects these are focused on ocean biodiversity, sustainable travel and greening our urban environment/ smart cities. Visits to environmental initiatives such as the Malta Commonwealth Canopy (QCC) site at the Verdala Palace and discussions on urban planning at the University of Malta have provided further items for consideration.

Following this second exchange, participants have now been provided with micro-grants and are currently in the process of delivering their social action projects. A hybrid event is planned for August 2023 to celebrate International Youth Day and the Commonwealth Year of Youth participants will have the opportunity to showcase their work before being welcomed as Associate Fellows to continue their Commonwealth journey.

The Platinum Jubilee Celebrations Commonwealth Market

To partner with Partridges of Sloane Square and Cadogan Estates to host a Commonwealth Market on Road in June 2022. The festivities included live music from the Melodians Steel Orchestra, dance and drumming workshops led by the One-Drum Foundation and a wide variety of food and drink from across the Commonwealth. The Commonwealth Market was a success with thousands of members of the public attending and positive feedback received from vendors and High Commissions.

River of Hope

The Society was proud to contribute to River of Hope, which formed a central part of The Platinum Jubilee Pageant which took place in London on 5 June 2022. As part of the day, the Society was honoured to be invited to view the Pageant along with members of our network.

As part of the project, schools from the UK and 17 Commonwealth countries took part. They made magnificent artworks inspired by Her great love and respect for the natural environment. Two hundred designs were then chosen to be printed onto silk flags and these were paraded at the Jubilee

The Society helped to recruit schools from Commonwealth countries to take part in the project. The children worked with their teachers, who were guided by instructional videos and presentations which were readily accessible online. The young people responded with extraordinary imaginative pieces of artwork, using their art and design skills, and utilising natural and recycled materials.

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

The final flag designs were displayed at the National Maritime Museum in Greenwich as part of a special exhibition between September and December.

Our International Network

The Society continues to use its unique position within the Commonwealth to expand networks and partnerships to serve the citizens of the Commonwealth. The international network consists of over 60 branches, 420 Associate Fellows, and the members of the Commonwealth Youth Gender & Equality Network (CYGEN), drawing from every Commonwealth nation and integrating individuals, branches and regions across civil society, government and commerce.

During the reporting period, the Society worked with its Environment Working Groups leads to start the development of a pan-Commonwealth initiative aimed at achieving our goal of preventing 1 million pieces of plastic from entering the ocean by 2025.

An increased focus has been placed on engagement with international network and how each strategic aims and vision of a better world for all Commonwealth citizens.

Associate Fellowship has been reviewed with a view to having a smaller but more impactful and engaged network of community leaders across the Commonwealth.

Workplace has been utilised to develop an online forum for branches, Associate Fellows and members of CYGEN to interact this can be based on grouping, region or area of thematic interest (literacy, equality, community or the environment) and provides an opportunity for the international network to share information, events, news and blogs as well as meet and network with one another.

Since February 2023 the Society has doubled the number of Associate Fellows on the platform, with over 75% actively engaged.

Looking ahead, the Society hopes to further utilise this platform to engage members of the International international network, the Society will be able to expand the reach, delivery and impact of programmes

LITERACY

The Commonwealth Essay Competition

Competition (QCEC) engages thousands of children annually, enabling them to explore the - minded world view.

The QCEC 2022 was launched virtually by the Vice-Patron, HRH The Duchess of Cornwall, who was joined by Society Ambassadors Geri Horner and David Walliams and QCEC 2021 winners entrants to explore the positive impact that can be achieved through dedication and selfless service to the Commonwealth during her Platinum Jubilee year.

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ROYAL COMMONWEALTH SOCIETY FOR THE YEAR ENDED 31 MARCH 2023

A record number of children entered the QCEC in 2022, with 26,322 entries received. India overtook entry levels.

Nigeria also saw a significant increase of 152% on 2021 entry levels and was the country with the fourth highest number of entries.

More than 150 volunteer judges, drawn from 45 different countries across the Commonwealth, assessed the entries with 4% of entries receiving Gold Awards, 11% Silver Awards, and 21% Bronze Awards.

The final judging process, which determined the Winners and Runners-up of each category, was conducted virtually, and involved an expert panel of authors, academics, and poets, from the UK and across the Commonwealth, with the winners hailing from New Zealand, Australia, India and the UK.

In November, the four 2022 winners, one of the 2021 winners and two of the 2020 winners were invited High Commissions, meet with the Speaker of the House of Commons, undertake workshops with journalists, novelists and actors from the Royal Shakespeare Company, and visit cultural institutions including Westminster Abbey, Stratford-upon-Avon, the Houses of Parliament and the Tower of London.

The visit programme concluded with an award ceremony at Buckingham Palace, hosted by Her Majesty The Queen with Society Ambassador Gyles Brandreth acting as compère. Excerpts of the winning pieces were read by Society Ambassadors Geri Horner, Ayesha Dharker, Alexandra Burke and poet and novelist Ben Okri. During the ceremony, Her Majesty highlighted the importance of literacy in her first address following the passing of Her Majesty Queen Elizabeth II.

The QCEC 2023 was also launched during the reporting period, with a launch video featuring past winners of the QCEC from the UK, Australia, Zambia and pupils from St Vincent High School. The theme for the -Powered the power young people hold within the global community and consider how this power can be harnessed to make a meaningful

Write Around the World

The Society is pleased to have partnered with the Royal Society of Literature (RSL) to develop Write Around the World, an online literacy programme that aims to provide young people around the Commonwealth with an entry point into creative writing. Through a series of interactive and engaging modules, delivered by RSL Fellows, that compliment traditional school settings, the programme will introduce young people to six different writing genres of the English language.

By the end of the programme, participants will not only be equipped with the tools to express themselves in a way that can generate the changes they wish to see in the world, but they will also have developed piloted successfully with schools and youth groups in Rwanda and Sri Lanka and is expected to be launched later this year.

EQUALITY AND INCLUSION

Acting as Secretariat to the Commonwealth Youth, Gender & Equality Network (CYGEN) Advancing Gender Equality and Youth Advocacy

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

With the support of the Society, the Commonwealth Youth Gender and Equality Network (CYGEN) has been at the forefront of promoting gender equality and empowering youth across the Commonwealth. This year witnessed the significant activities undertaken by CYGEN in various forums, demonstrating their commitment to fostering meaningful youth participation and advocacy.

In April 2022, with the Society's support, CYGEN organized a two-day leadership caucus that brought together the incoming and outgoing executive committee members. The caucus focused on refining the network's strategic goals, ensuring they aligned with current challenges and opportunities. Through collaborative discussions and brainstorming sessions, the leadership caucus set a clear direction for CYGEN's future endeavours.

CYGEN participated in various engagements at the Commonwealth Heads of Government Meeting in Kigali, Rwanda. For instance, CYGEN seized the opportunity during the Commonwealth Heads of Government Meeting in Kigali, Rwanda, to launch its knowledge-sharing hub. This online platform provides a space for members to exchange information, resources, and best practices, strengthening the network's capacity to drive gender equality initiatives. CYGEN also organized a dynamic side event titled Methods to Advance Meaningful Participation of Commonwealth Youth in Advocacy .

Participants shared their knowledge and experiences in advocating for gender equality at all levels. The event served as a platform to foster collaboration, learning, and the exchange of innovative ideas. CYGEN also had a representative serving on the international youth task force, playing a crucial role in shaping global youth policies and initiatives. Additionally, CYGEN delegates actively participated in the Women's Forum, contributing their unique perspectives, and amplifying the voices of young women within the Commonwealth.

Membership expansion and onboarding were also major achievements for CYGEN in the 2022-2023 period. CYGEN successfully recruited new members, significantly increasing its membership base. This expansion has led to greater representation across a diverse range of countries within the Commonwealth. To ensure a smooth transition and integration of new members, CYGEN hosted its first formal onboarding session, fostering a sense of belonging and creating a supportive environment for all members.

Throughout the year, CYGEN also hosted a series of engaging virtual events. These included Twitter Spaces discussions such as Let's Talk Sexuality and sessions focused on domestic violence during the 16 days of activism. Furthermore, CYGEN organized workshops and webinars on various crucial topics, including Spotlighting Accountability on Youth: SRH Funding in the Commonwealth Nations , Normalizing Menstruation and Menstrual Hygiene Management , Cyber Attacks on Women in Politics , and Breaking Down the Intersection of Youth Employment, Entrepreneurship, and Education with Gender . These engagements provided a platform for education, dialogue, and capacity building, empowering young people to tackle gender-related challenges.

CYGEN's tireless efforts in advancing gender equality and amplifying youth voices within the Commonwealth have yielded remarkable results, thanks to the Society's support. Through strategic planning, dynamic advocacy, and innovative virtual engagements, CYGEN has positioned itself as a catalyst for change. With an expanded membership base and increased representation, CYGEN is wellequipped to continue its impactful work in creating a more equitable and inclusive future for all.

ENVIRONMENT

The Commonwealth Canopy

Since its launch in 2015, more than 115 sites and projects around the Commonwealth have been dedicated to the initiative, conserving more than 12 million hectares of indigenous forests and botanical gardens. From the dense tropical forests of Barbados and Papua New Guinea to the dry woodlands of

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

Malawi, and from the coastal mangrove forests of Maldives to the native pine forests of Cyprus, the QCC demonstrates the value of the Commonwealth working together in common cause to conserve forests for future generations.

Following initial commitment by seven countries at its launch at the Commonwealth Heads of Government Meeting (CHOGM) in Malta in 2015, His Royal Highness The Prince of Wales announced pan-Commonwealth commitment to The Canopy (QCC) at the CHOGM Opening Ceremony in Rwanda in June 2022.

Announcing this achievement, The Prince of Wales remarked: her Reign, The Queen has placed, and continues to place, the greatest importance on the common friendship, humanity, and unstinting service to our Commonwealth family, all Commonwealth Member States have announced

The QCC is a truly remarkable example of the Commonwealth taking concrete action to create a brighter, common future for its 2.5 billion citizens. This initiative has seen government and nongovernment actors come together to conserve a vast range of forest types around the Commonwealth, including several UNESCO World Heritage sites and forests that our Patron, The late Queen, has visited during her 70 years of service to the Commonwealth. The Society was delighted that panCommonwealth commitment was achieved during the Platinum Jubilee year.

With all Commonwealth Member States committed to the QCC, this milestone is expected to be commemorated with a tree planting in a royal palace.

Public Benefit

The Trustees confirm that they have complied with their duty under Section 17(5) of the Charities Act

Risk Management

The Trustees regularly review the risks the charity faces and are satisfied that systems are in place to mitigate their exposure to the major risks.

Finances

Key Figures from the Financial Statements

At the year-end, reserves totalled £442,392.

Significant Activities Impacting on Finances

The Society has continued to focus efforts on deepening engagement with its core supporters as well as providing a new platform to engage with new ones. For instance, the Society has also launched a campaign to remove plastics from the oceans and waterways that seeks to attract donations for each piece of rubbish that has been recycled.

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

Any Factors Impacting on Future Income

The Society has secured and relocated in April 2023 to rent-free offices at the Guildhall, which reduces overhead costs for a five-year term, which is renewable.

Reserves and Investment Policy

The principal objectives defined by the Trustees are:

  1. To ensure that the Society has sufficient uncommitted and readily accessible assets to cover overheads or any unanticipated short-term need. The Reserves will only be used as an intervention to enable, or to strengthen, the transition to a desired stable position and is not to be used to cover routine costs.

  2. That the Society should hold a minimum of six months of core costs. The quantum is defined as £60,000.

  3. It is unlikely that the Society will hold investments other than as a vehicle for the safe-keeping of Reserves.

Principal Risks and Vulnerabilities

The reputation of the Society is its main asset. The Trustees are confident that the integrity of the Society is strong and that it is regarded as a trusted, effective, versatile, and independent partner.

Core funding and cash flow are the key and most vulnerable risks. Trustees keep a close eye on the cash position at all times.

Plans for the Future

2023 marks the 140[th] this important anniversary, the Society is planning to release a special publication which will showcase iews with previous winners and highlight how the competition / Commonwealth has evolved over the decades. The hope is to launch this publication during Winners Week 2023, with copies to be shared with all Commonwealth Member Governments. This

2024 will also see Samoa take the Chair of the Commonwealth. Environmental conservation / protection will be a focus. Ahead of this meeting the Society aims to launch a campaign aimed at preventing 1 million pieces of plastic from entering the ocean. Members of International Network will take a leading role in this pan-Commonwealth campaign to raise awareness of the issue of plastic pollution.

Arrangements for Setting Pay

The Trustees consider that conditions of service are set at a decent level and in line with medians in the charity sector and compliant with legislation. All salary recommendations are approved by the Executive Chair and the Treasurer and reported to Trustees. A modest pension scheme in line with established legislation is in place.

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ROYAL COMMONWEALTH SOCIETY

FOR THE YEAR ENDED 31 MARCH 2023

Governance and Management

The Trustees routinely review appointments for relevance and experience and there is an established rotation and succession policy.

Responsibilities

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, UK GAAP (Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:-

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for the prevention and detection of fraud and other irregularities.

By order of the Trustees.

Dr Linda Yueh CBE Executive Chair

15/09/2023

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We have audited the financial statements of Royal Commonwealth Society for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

2023 and of its income and expenditure for the period then ended;

Practice;

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

The trustees are responsible for the other information. The other information comprises the information opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

In the light of the knowledge and understanding of the Charity and environment obtained in the course

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

As explained more fully in the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

A further description of our responsibilities for the audit of the financial statements is located on the www.frc.org.uk/auditorsresponsibilities. This description forms

Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been stees those matters we are required to state to for our audit work, for this report, or for the opinions we have formed.

7 December 2023

(incorporating an income and expenditure account)

----- Start of picture text -----
2022
Total
Funds
£
Supporters’ Donations 100,913
Public affairs Programmes 7,500
Cultural Events 88,844
Educational Programmes 170,000
367,257
Raising funds 59,073
Public affairs Programmes 37,149
Cultural Events 88,691
Educational Programmes 126,829
311,742
55,515
Net (losses)/ gains on investments 12,961
68,476
Transfers between funds -
68,476
Total funds brought forward 406,182
474,658
----- End of picture text -----

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

eral funds
restricted funds
ed funds
cted funds:
e assets
ents
bank and in hand
s: amounts falling due within one year		 2022
£
170,443
142,236
312,679
25,880
349,305		 2022
£
1,259
186,600
187,859
286,799
474,658
125,353
349,305
474658

and signed on their behalf by:

The attached notes form part of the financial statements.

----- Start of picture text -----
2022 2022
£ £
Net cash provided by / (used in) operating activities (102,700)
Interest/ rent/ dividends from investments (321)
-
Sale/ (purchase) of investments
(321)
(103,021)
Cash and cash equivalents at the beginning of the year 245,330
142,309
----- End of picture text -----

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102). Royal Commonwealth Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The trustees consider that there are no material uncertainties about Royal Commonwealth Society’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether grants or grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. Income received in advance of the provision of a specific service is deferred until the criteria for income recognition are met.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise of trading costs and the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4. Rental charges are charged on a straight line basis over the term of the lease. Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: ˜ Computer equipment - Straight line over 3 years Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Royal Commonwealth Society provides a defined-contribution pension scheme in line with Government’s auto enrolment regulations.

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2022 2022 2022
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Charitable activities:
Supporters’ Donations 100,913 - 100,913
Public Affairs Programmes 7,500 - 7,500
Cultural Events 32,554 56,290 88,844
Educational Programmes 120,000 50,000 170,000
Investment income - - -
Other income - - -
260,967 106,290 367,257
Raising funds 59,073 - 59,073
Charitable activities:
Public affairs Programmes 8,718 28,431 37,149
Cultural Events 64,456 24,235 88,691
Educational Programmes 118,909 7,920 126,829
251,156 60,586 311,742
9,811 45,704 55,515
Net gains on investments 12,961 - 12,961
22,772 45,704 68,476
Transfers between funds 45,080 (45,080) -
67,852 624 68,476
Total funds brought forward 281,453 124,729 406,182
349,305 125,353 474,658
2022
Total
Funds
£
Supporters’ donations 100,913
Public affairs meetings & activities 7,500
Cultural events 88,844
Income from educational programmes 170,000
367,257
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ic costs
fessional

ture 2022		 59,073 37,149 88,691 126,831 311,744 £
131,445
97,196
1,157
80,687
1,257
311,742
311,744

Of the total expenditure, £258,073 was unrestricted (2022: £251,156) and £114,495 was restricted (2022: £60,586). Analysis of expenditure-prior year

ic costs
fessional

ture 2022		 £
35,490
1,486
312
21,785
-
59,073
Cost of
raising
funds		 Public Affairs
Programmes
Cultural
Events
£
£
3,943
31,547
30,750
37,501
35
278
2,421
19,365
-
-
37,149
88,691
Charitable activities		 Educational
Programmes
60,465
27,459
532
37,116
1,257
126,829		 2022 Total
£
131,445
97,196
1,157
80,687
1,257
311,742		 2021 Total
£
145,860
39,311
16,526
77,037
1,257
279,991

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This is stated after charging / (crediting): 2022
£
Depreciation 1,257
Audit fees- net of VAT 4,358
Staff costs were as follows: 2022
£
Salaries and wages 119,293
Other staff costs 1,283
Social security costs 8,099
2,771
131,446
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The total employee benefits including pension contributions of the key management personnel were £104,619 (2022: £56,956).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil) neither were they reimbursed expenses during the year (2022: £nil).

No employee earned over £60,000 during the year (2022: Nil)

The average number of employees (head count based on number of staff employed) during the year was as follows:

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2022
No.
Programmatic 1.50
Admin 0.25
Public Affairs 1.75
3.50
Computer
equipment
£
At the start of the year 21,799
Additions in year -
Disposals in year -
At the end of the year 21,799
At the start of the year 20,540
Charge for the year 1,259
Eliminated on disposal -
At the end of the year 21,799
At the start of the year 1,259 1,259
All of the above assets are used for charitable purposes.
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2022
£
Investment funds 186,527
Cash Deposits 73
186,600
Market value at the start of the year 173,245
Additions at cost 321
Net gains / (losses) 12,961
Market value at the end of the year 186,527
2022
£
Trade debtors 153,462
Other debtors 6,136
Prepayments 10,845
170,443
2022
£
Other creditors 21,130
Accruals & Deferred Income 4,750
25,880
Tangible fixed assets
Investments
Net current assets
Analysis of net assets between funds-prior year
General
Unrestricted Restricted
Funds Funds Total Funds
£ £ £
Tangible fixed assets 1,259 - 1,259
Investments 186,600 - 186,600
Net current assets 161,446 125,353 286,799
Net assets at the end of the year 349,305 125,353 474,658
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Commonwealth Service
CYGEN
Wainwright legacy
Commonwealth Youth Exchange Programme
Movements in funds-prior year
Incoming Outgoing
At the start of resources & resources & At the end of
the year gains losses Transfers the year
£ £ £ £ £
Restricted funds:
Commonwealth Service - 35,000 21,000 (14,000) -
CYGEN 97,393 - 28,431 (11,664) 57,298
Digital Literacy Programme 27,336 7,920 (19,416) -
Wainwright Legacy - 50,000 - - 50,000
Commonwealth Youth Exchange Programme - 21,290 3,235 - 18,055
Total restricted funds 124,729 106,290 60,586 (45,080) 125,353
Unrestricted funds 281,453 273,928 251,156 45,080 349,305
Total funds 406,182 380,218 311,742 - 474,658
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Each of the restricted projects to be described in more detail below and explain any transfers.

Commonwealth Service The Society has assumed full responsibility for the Commonwealth Service and other related events during Commonwealth Week. These funds are retained to meet these specific costs.

CYGEN - The Society is delivering a 5 year review and consolidation programme for the Commonwealth Youth and Gender Equality Network, including the production of resource materials and residential meetings.

Digital Literacy Programme - This programme aims to improve literacy skills of 540 children across East Africa and India in light of Covid, esp. those from disadvantaged backgrounds or marginalised groups by development of a Literacy Toolkit. The project will help children to develop key literacy and critical thinking skills.

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2022
£
103,598
Depreciation 1,257
Interest, rent and dividends from investments (3,312)
(Gains)/ losses on investments (34,756)
(Loss)/ profit on the sale of investment 100
(Increase)/ decrease in debtors 15,725
Increase/ (decrease) in creditors 19,549
102,161
At 1 April
2022
£ £ £
Cash at bank and in hand 142,236
Cash held by investment manager 73
142,309
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There were no related party transactions during the year (2022: £nil).