## **ESPERANTO-ASOCIO DE BRITIO**
**(REGISTERED CHARITY NUMBER 272676) FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2022**
**Dains Audit Ltd Chartered Accountants St John’s Court Wiltell Road Lichfield Staffordshire WS14 9DS**
## **ESPERANTO** - **ASOCIO DE BRITIO**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 OCTOBER 2022**
|**CONTENTS**|**PAGES**|
|---|---|
|Trustees’ Annual Report|1 - 9|
|Independent Examiner’s Report|10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Notes to the Accounts|13 - 18|
## **ESPERANTO-ASOCIO DE BRITIO Registered Charity no: 272676**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022**
The trustees present their annual report and financial statements of the charity for the year ended 31 October 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, the Charities Act 2011 and 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 (FRS102).
## **OBJECTIVES AND ACTIVITES FOR THE PUBLIC BENEFIT**
The purpose of the charity is to advance education in and about the international language Esperanto and to preserve and promote the culture and heritage of Esperanto for the educational benefit of the general public.
In setting objectives and planning activities, the trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
The main activities undertaken by the charity during the year to further its charitable purposes for the public benefit are detailed below:
- Working on multiple publishing projects to provide learners with high-quality books in Esperanto, priced at a significant discount from the recommended retail price.
- Hosting free weekend courses for learners both online and in person, enabling students to enjoy a friendly and supportive environment with other learners, aided by a variety of teachers.
- Distributing free of charge or at cost price educational materials to beginners who have attended our courses.
- Operating a book service so that people have easy access to learning materials and Esperanto literature, which people can use online or in person at our headquarters, with core educational materials for sale at or around cost price.
- Providing free correspondence courses accessible via email and post with experienced Esperanto teachers.
- Investing in the Butler Library and archive in order to preserve Esperanto’s cultural heritage and provide a research facility for study.
- Encouraging members to participate in local meetups and paying the costs of online accounts to promote these meetings.
- Maintaining a website up to date with information for enquirers and details of events around the country, as well as larger international ones.
- Running schemes to provide learners with grants towards the cost of educational courses.
Page 1
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued)**
## **A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCE**
## **Publishing**
- This has been an exceptional year for the charity’s publishing activities as we progressed our aim of making high-quality Esperanto reading material available to the public at affordable prices.
- We expanded our range of children’s books to include ten new titles: _Kanto de ĝojo, Novulo en la urbo, La cent-etaĝa kosmoŝipo, Ekster la kuniklejo, Pingvena Pako, Ni ĉiuj estas malsamaj, Kvin ursoj, Lunkato kaj mi, La fajrovulpo_ and _La plej eta elefanto._ Due to the special arrangements we have negotiated for print runs, we are able to sell each of these books at £5 each; the RRP for their hardcover English equivalents is £12.99.
- We republished _Ĉu li bremsis sufiĉe_ by Claude Piron as a print-on-demand (POD) book this year, with the aim of making this out-of-print title accessible again for learners.
- We published a full-colour illustrated version of _Alice’s Adventures in Wonderland._ The high quality and beautiful illustrations in the book mean it has been extremely well received, with 146 copies sold to date. We have applied our policy of pricing low to this book too, selling it for £15; the RRP of the English version is £25.
- Our best-selling book of the year has been _La domo ĉe Pu-Angulo,_ which was published as a full-colour hardback edition at the end of October 2021. Since then, it has not only sold 171 copies but also won the prestigious _Infanlibro de la jaro_ prize at the _Belartaj Konkursoj_ in summer 2022.
- At the end of October 2022 we took receipt of the long-awaited _Unu animo homa_ , a complete works of the poetry of Marjorie Boulton, edited by Edmund Grimley Evans. Marjorie’s prodigious output means that we have published the book as a two-volume set which totals over 1,200 pages and which we will launch for sale at £20, with an RRP otherwise of £30.
- Having secured the rights to publish Esperanto translations of the seven books in Tove Jansson’s _Moomins_ series, in September 2022 we published the first book in the series: _Kometo en Muminvalo._ Translated by Sten Johansson, this book has been made available via a POD service, meaning it can be purchased from online bookstores at the affordable price of £10.
- This was followed in October 2022 by the publication of Simon Davies’ excellent translation of Mark Haddon’s _The Curious Incident of the Dog in the Night-Time_ using the same model. Excerpts from this book were read aloud during workshops at the British Esperanto Conference in April, were previewed in _La Brita Esperantisto,_ and were presented online in an international _Bobelarto_ session: it proved very popular, selling well since launch.
- During the year the charity secured the rights to translate several other well-known titles into Esperanto.
- Towards the end of the year we launched a beautiful new publishing page to present our books on the charity’s website. Members of the public can subscribe to this for updates on our publishing activities.
Page 2
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued)**
## **Education**
- We held two sessions of our free _Lernu Plu_ weekend educational course for post-beginners via Zoom in February and May 2022. After two years of only being able to run online courses during the pandemic, we were pleased to also be able to offer two in-person sessions of _Lernu Plu_ at Esperanto House in September and October 2022.
- We attempted to run our annual free _Somerlernejo_ from Esperanto House in August 2022. Unfortunately, sign-ups were low and the event ultimately had to be cancelled.
- Learners who attended our courses continued to receive free educational books (primarily John Wells’s dictionary and the vocabulary builder _First Thousand Words in Esperanto_ ) if they didn’t already have copies.
- We continue to encourage people to supplement their Esperanto learning by selling the textbooks _Complete Esperanto_ and _Enjoy Esperanto_ , both published by John Murray Learning, at cost price. There continues to be a strong take-up of these books, with an additional 71 copies sold this year.
- We have also continued to sell the reference works _Plena Ilustrita Vortaro 2020_ and _Plena Manlibro de Esperanta Gramatiko 2020_ at low prices, in order to make it easier for learners to get these relatively expensive but very useful books onto their shelves. This has been possible due to the favourable bulk-purchase deals which we negotiated.
- The Esperanto course _Jen Nia Mondo_ , incorporating two books and 50 audio tracks, continued to be available for free download from our website throughout the year.
- Our account on eBay is regularly updated with second-hand books and finds people who otherwise would have no contact with us, getting used books out of storage and to people who want to read them.
- Our distance learning courses continued to have a small take-up. During the year we made a decision to cease offering our distance examinations as the Esperanto CEFR exams, which provide learners with an internationally recognised assessment of their abilities, can now be sat online as well as at in-person exam sessions.
## **Educational grant-making**
- Overall requests for travel grants remained low this year due to the remaining impact of the COVID-19 pandemic on international travel.
- However, we were able to make travel grants towards one person attending the _Brita Kongreso_ in Conwy, a young person attending the _Internacia Junulara Kongreso_ in the Netherlands and one person attending a session of _Lernu Plu_ at Esperanto House during the year.
- We ran a scheme in early 2022 offering grants to cover the tuition costs of people from Britain attending the _Nord-Amerika Somera Kursaro_ (NASK) in Raleigh, North Carolina in July 2022. One learner applied and was awarded a grant.
- We also made a grant towards a four-person research team meeting at the _Universala Kongreso_ in Montreal over the summer to work on a book about the history of the youth Esperanto movement.
Page 3
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued)**
## **Educational grant-making (continued)**
- We advertised a scheme to refund examination fees to successful participants in an online session of the Esperanto CEFR examinations. Take-up of this scheme was disappointing, with only one successful applicant being awarded a grant. Additionally, we made a grant to edukado.net in support of the development of the C2 CEFR exams in Esperanto.
- In 2021 we invited applications for grants towards the tuition fees of a three-year postgraduate programme in Interlinguistic Studies at the Adam Mickiewicz University in Poznan, Poland. Grants for the second year of tuition fees were paid to successful candidates this year.
- We intended to run a grant scheme to encourage attendance at the _Somera EsperantoStudado_ in Slovakia in summer 2022. Unfortunately, the course was cancelled in the run-up.
## **Publicity**
- After two years of cancellation due to the COVID-19 pandemic, we were delighted to be able to run the 2022 British Esperanto Conference in Conwy in April 2022. Although the event was not as well-attended as we had hoped, generating a significant deficit to the charity, those who participated enjoyed the return to an in-person event and, in particular, the excellent lectures given by guest speaker Hans Becklin.
- The charity has continued to fund the use of Esperanto accounts on the site meetup.com, with the intention of facilitating the organisation of regular get-togethers, making Esperanto visible to people looking for something related in their vicinity, and providing people with opportunities to speak Esperanto with others. EAB has continued to fund the sites during the pandemic so that those groups initiating online meetings can still proceed, whilst those who are on hiatus until they can resume meeting in person don’t lose their members and have to start again with a fresh account.
- The charity’s Facebook page now has 2,036 (2021: 1,982) fans, while the Twitter account has 2,186 (2021: 2,100) followers.
## **Butler Library**
- The charity has continued to make available on Soundcloud digitised recordings of talks given by Esperanto speakers from the past, with Bill Walker adding recordings from our _Barlastono bis!_ series and a three-part recording of _La graveco de la fideliĝo_ from 1987.
- The charity took receipt of several small book collections in the year, duplicates in which have been made available for purchase on eBay.
- The trustees are in the process of exploring options for digitising the Butler Library collection, with the aim of making its treasures accessible from people’s own homes and devices.
Page 4
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued)**
## **Closure of Wedgwood Memorial College**
Wedgwood Memorial College, on whose Estoril site the charity has its headquarters, was sold to a new owner on 29 January 2021. The charity has sole use of the Butler Library and three Esperanto bedrooms as well as the Esperanto office in accordance with the terms of its lease. Since the closure of the college in April 2012, the condition of the site has deteriorated significantly with the former college buildings being subjected to frequent vandalism and becoming home to squatters. This year the problems on the site have begun to impact on the charity, with Esperanto House being broken into on two separate occasions during summer 2022. These incidents caused considerable damage and inconvenience, as well as financial loss to the charity. We have installed CCTV cameras in the hope of deterring future attacks, but the possibility of this happening again cannot be excluded given the derelict nature of the site. During the year the new landlord requested a meeting with the trustees to discuss surrendering the lease to Esperanto House but cancelled this meeting on the afternoon before it was due to take place.
## **FINANCIAL REVIEW**
The charity continues to be nearly wholly reliant on income and returns from its investments. Additional income is generated from book sales, membership subscriptions, legacies and donations.
As the impact of the COVID-19 pandemic began to ease this year, the charity was able to re-start some activities which had been paused during the pandemic and increase charitable expenditure in some areas where it had been low for the past two years.
Regrettably, this has also been a year which has seen expenditure that is not directly charitable increase significantly, with the charity having to spend more than £10k on the maintenance of its leased premises. This expenditure has included replacement of the gas boiler, costs incurred to board up and replace glass panels in the exterior doors following break-ins over the summer and the installation of CCTV, as well as smaller routine repairs. The charity’s lease contains a clause requiring the property to be decorated inside and out every fifth year regardless of whether such decoration is required. As 2022 was one of these so-called “decorating years” specified by the lease, significant expenditure was incurred on decorating also. Towards the end of the year the charity additionally received a number of large utilities invoices, which were recharged to us by the new landlord. The costs of some of these invoices significantly exceeded both our expectations and the amounts which we have historically budgeted for gas, water and electricity usage. The charity is in an unfortunate position as a tenant, in that these utilities are arranged by the landlord and recharged, meaning that the trustees have little control of or visibility over the costs incurred. Whilst the charity’s strong cash position means that we do not face any cashflow challenges in settling such invoices, the trustees are nevertheless aware that these increases in support costs serve to reduce the proportion of the charity’s income which is available to spend directly on charitable projects.
## **Investment policy and performance**
The charity’s constitution states that the trustees have the power to make investments as they see fit. Their duty is to seek adequate income and capital growth. Capital is invested in deposit accounts and unit trusts specifically designed for the charity sector, which are for the greater part socially responsible. The split between asset classes is shown in the notes to the financial statements.
Page 5
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued) Investment policy and performance (continued)**
The COVID-19 pandemic has caused significant volatility in the stock market over the past two years. This volatility has worsened during the current financial year following Russia’s invasion of Ukraine in February 2022 and was not improved by the various crises of the UK government during summer and autumn 2022. The trustees continue to monitor the performance of the charity’s investments on a regular basis, in particular monitoring the level of investment income received. Some reduction in investment income is expected for the year ending 31 October 2023.
Despite the market turbulence, the charity’s investments have continued to perform well compared to their relevant benchmarks. The COIF Charities Global Equity Income Fund produced a gross dividend yield of 2.80% compared to an average of dividend yield of 1.32% from the MSCI World Index over the same period. The annualised total return performance of the fund was -6.81% compared to a comparator benchmark of -2.93%. The COIF Charities Ethical Investment Fund performed better, having a gross dividend yield of 3.12% compared to an average yield of 2.22% from MSCI World ex UK Index over the same period. The annualised total return performance of the fund was -4.14% compared to a comparator benchmark of -5.47%. The EdenTree Amity Balanced Fund for Charities produced a yield of 5.6%. The cumulative performance of the fund over the 12 months was -7.32%. 69% of this fund is invested in UK equities and bonds (compared to only 8% of the COIF Charities Global Equity Income Fund and 9% of the COIF Charities Ethical Investment Fund). It is therefore more significantly impacted by economic conditions in the UK.
## **Grant-making**
The charity uses money donated by the Norwich Jubilee Esperanto Foundation in the years ended 31 October 2020 and 31 October 2021 to continue the work of that charity, implementing a system of travel grants to allow young people to request funding to participate in Esperanto events at home and internationally. The charity additionally makes grants to allow learners to access a contribution towards their costs to participate in events of educational value. The trustees also consider other grants to facilitate participation in educational events on an ad-hoc basis. The trustees believe such grants contribute to the overall charitable purpose of the charity by reducing financial barriers to the participation of the public in Esperanto education. Significant grants are approved by a subcommittee of the trustees or the trustee board as a whole.
## **Membership**
Life members = 14 (2021: 14), full members = 259 (2021: 269), family members = 10 (2021: 14), supporters = 10 (2021: 11). Total = 293 (2021: 308).
## **Reserves**
Total funds of the charity amounted to £3,392,111 at 31 October 2022. This comprises endowment funds of £96,230 designated funds of £1,406,218 and unrestricted funds of £1,889,663.
The trustees have agreed a reserves policy which requires reserves to be maintained at a level that, when prudently invested, will generate sufficient income for the charity to continue operating. £20k is currently held on deposit with Scottish Widows and can be accessed with seven days’ notice in the event of unforeseen expenditure arising.
## **Risk management**
The trustees have examined the major internal and external risks which the charity faces and confirm that systems have been established to minimise these risks. A formal risk register has been drawn up by the trustees during the year to enable more detailed monitoring of relevant risks.
Page 6
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued)**
## **PLANS FOR THE FUTURE**
- Hold a translation competition for Daphne du Maurier’s _Rebecca_ and Roald Dahl’s _Matilda,_ generating awareness internationally of the charity’s publishing expansion and putting us into contact with people who may be willing and able to work on translations.
- Publish further translations, including children’s books but branching out also into lengthier material suitable for new learners and people who are making progress and are looking for interesting and accessible reading.
- Investigate developing relationships with excellent translators who would be willing to translate books for which EAB has translation rights and develop the talents of emerging translators.
- Continue to run our successful free weekend courses, either in the classroom, whether at Esperanto House or elsewhere, or online.
- Continue to run a system of travel grants, allowing young people to request funding to participate in Esperanto events at home and internationally, and for learners who have never used Esperanto overseas to access a contribution towards their costs to participate in events of educational value.
- Run a bursary scheme for people who have never attended an Esperanto event abroad before to participate in _Somera Esperanto-Studado_ and consider expanding this approach for other approved events.
- Encourage people to receive accreditation for their skills in Esperanto by refunding people who successfully take CEFR exams.
- Investigate options to improve our delivery of online education.
- Maintain a regular presence on eBay, as a mechanism for placing second-hand books which may interest people where they can see them, and for potentially making sales internationally of our own publications to Esperanto-speakers overseas, since it appears that eBay somehow makes it possible to buy with customs charges waived.
- Monitor our bookshop offering, adding to it items of general educational interest.
- Organise a successful British Esperanto Conference in Cambridge in April 2023.
- Investigate options for the digitisation of the Butler Library.
- Continue to obtain formal permission for the charity to sublicense the republishing of works by British Esperanto authors who are willing to give such permission to the charity, thus ensuring that it will be possible to republish those works in future.
- Continue to send out relevant information to the public regarding our activities.
- Remind the members that the charity cannot function without trustees and make general request for others to think about becoming trustees.
- Discuss in the 2023 AGM options for revising the quorum to a more realistic number, following low attendance at the 2022 AGM, with the aim of voting on a solution at the AGM in 2024.
Page 7
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued)**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
EAB is a registered charity, number 272676, and was founded on 13 March 1976. The charity is an unincorporated organisation, governed by a constitution which was last amended on 18 May 2018. Members of the Management Committee (trustees) are elected individually by the Annual General Meeting, to serve until the end of the next Annual General Meeting. The trustees are incorporated as a body.
The first full committee meeting after the election is a residential planning weekend which incorporates an induction for new trustees.
All trustees give of their time freely and no trustee remuneration was paid during the year. Details of trustee expenses are disclosed in the notes to the financial statements.
## **Trustees**
The Management Committee are the trustees of the charity. Those who served from 1 November 2021 to 31 October 2022 were:
Edmund Grimley Evans (President) Simone Davis (Vice president) Clare Hunter (Treasurer) Jane Anna Langley Laura Miller (until 24 April 2022)
## **Staff and key volunteers**
Staff and key volunteers who assisted the charity during the year were as follows:
## **Honorary President:** John Wells | **Director of Education and Development and editor of** _**La Brita Esperantisto**_ **:** Tim Owen | **Director of Operations and Events:** Viv O’Dunne | **Editor of** _**EAB Update**_ **:** Maurizio Giacometto
## **Principal office**
Esperanto House, Station Road, Barlaston, Stoke-on-Trent, ST12 9DE.
## **Working names**
The charity also uses the working names Esperanto Association of Britain, EAB and Esperanto UK.
## **Independent examiner**
AP Morris of Dains Audit Ltd, St John’s Court, Wiltell Road, Lichfield, Staffordshire, WS14 9DS.
## **Solicitors**
Tinsdills, Hays House, 25 Albion Street, Hanley, Staffordshire, ST1 1QF.
## **Bankers**
Santander, 62 Hagley Road, Birmingham, B16 8PE. CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ. Barclays, PO Box 738, London, W6 9HY.
8
## **ESPERANTO-ASOCIO DE BRITIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2022 (continued) REFERENCE AND ADMINISTRATIVE INFORMATION**
## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS**
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each 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 the financial statements, the trustees 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 prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 4 February 2023 and signed on their behalf by:
Clare Hunter Treasurer
Page 9
## **ESPERANTO-ASOCIO DE BRITIO**
## **Independent examiner’s report to the trustees of Esperanto-Asocio De Britio**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 October 2022 which are set out on pages 11 to 18.
## **Responsibilities and basis of report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A.P. Morris Chartered Accountant of Dains Audit Ltd St Johns Court Wiltell Road Lichfield Staffordshire WS14 9DS 4 February 2023
Page 10
## **Esperanto-Asocio De Britio**
## **Statement of Financial Activities**
## **For the year ended 31 October 2022**
|**Notes**
**Income from:**
Donations and legacies
2
Investments
3
Charitable activities
Income from membership
subscriptions and sales
4
**Total income**
**Expenditure**
**Charitable activities**
5
Education
Education/travel grants
Books and publications
Library
Publicity
Membership
**Depreciation**
**Other**
6
**Total**
**Other recognised gains/(losses)**
Gains/(losses) on listed investments
- realised 11
-unrealised 11
**Net income/(expenditure)**
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Funds**
**£**
5,272
113,285
27,020
145,577
5,632
5,686
61,387
1,004
18,225
1,718
1,840
20,884
116,376
(357,890)
(328,689)
3,624,570
3,295,881|**Endowment**
**Funds**
**£**
(9,802)
(9,802)
106,032
96,230|**Total**
**2022**
**£**
5,272
113,285
27,020
145,577
5,632
5,686
61,387
1,004
18,225
1,718
1,840
20,884
116,376
(367,692)
(338,491)
3,730,602
3,392,111|**Total**
**2021**
**£**
557,813
87,755
24,744
670,312
7,400
3,214
51,663
2,367
13,321
2,794
1,840
15,676
98,275
61,224
433,821
1,067,082
2,663,520
3,730,602|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
Page 11
## **Esperanto-Asocio de Britio**
## **Balance Sheet at 31 October 2022**
|**Notes**
**Fixed Assets**
Tangible Assets
10
Investments
11
**Current Assets**
Stock
Debtors
12
Bank balances
Creditors: amounts falling due
within one year
13
Net Current Assets
Total Assets less current liabilities
Endowment Funds
Unrestricted Funds
14
Designated – Capital Fund
NoJEF Fund
Other|**2022**
**£**
**£**
145,360
3,171,505
3,316,865
37,228
5,031
71,071
113,330
38,084
75,246
3,392,111
96,230
871,902
534,316
1,889,663
3,392,111|**2021**
**£**
**£**
147,200
3,539,197
3,686,397
21,479
1,886
57,818
81,183
36,978
44,205
3,730,602
106,032
873,742
620,211
2,130,617
3,730,602|**2021**
**£**
**£**
147,200
3,539,197
3,686,397
21,479
1,886
57,818
81,183
36,978
44,205
3,730,602
106,032
873,742
620,211
2,130,617
3,730,602|
|---|---|---|---|
||||3,686,397
44,205|
||||3,730,602|
||||106,032
873,742
620,211
2,130,617|
||||3,730,602|
These accounts were approved and authorised for issue by the trustees on 4 February 2023 and were signed on their behalf by:
...............................................
Clare Hunter
Treasurer
Page 12
**Esperanto-Asocio De Britio**
**Notes to the Accounts**
## **For the year ended 31 October 2022**
## **1. Basis of Preparation of Accounts**
The accounts have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011 and applicable regulations.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value, unless otherwise stated in the relevant notes to these accounts.
## **Income**
Legacies are included in the accounts as soon as the sum due is known with reasonable certainty, in practice this is often not until the legacy is actually received.
Other income is accounted for in the period in which it arises. The value of services provided by volunteers has not been included.
## **Expenditure**
Expenditure is recognised in the period in which it is incurred and is allocated directly to either activities in furtherance of the charitable objectives or to other costs wherever possible. Costs common to both areas are apportioned either on the basis of staff time spent on each area or, where an alternative split is considered more appropriate to the nature of the expenditure, that split is used.
## **Fixed Assets and Depreciation**
All assets costing over £1,000 which will be used by the charity on a continuing basis are capitalised at cost and are depreciated at the following rates in order to write off all assets over their useful lives:
Equipment 10% on cost Leasehold premises Written down over the period of the lease Computer equipment Written off in year of acquisition
## **Listed Investments**
Investments held as fixed assets are revalued at closing market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.
## **Stock**
Stock is valued by the Trustees at the lower of cost and net realisable value.
## **Funds**
Endowment funds are those funds which are retained permanently in accordance with the donor’s wishes. Income arising from these funds may be applied to the general purposes of the Charity.
Restricted funds are to be used for specific purposes laid down by the donor. Expenditure which meets these is charged to the fund.
Unrestricted funds are those incoming resources which are subject to no restrictions.
Designated funds are unrestricted funds which have been earmarked by the trustees for particular purposes.
Page 13
**Esperanto-Asocio De Britio**
## **For the year ended 31 October 2022**
## **Notes to the Accounts**
|**2. Donations and legacies**
Donations
Donation - NoJEF
Grant
Legacies
**3. Income from Investments**
Income from listed investments
Bank interest and similar income
**4. Income from Charitable**
**Activities**
Subscriptions including Gift Aid
Books and publications
Other
**5. Charitable Activities**
Education
Educational/travel grants (NOJEF)
Books and publications
Library
Publicity
Membership
**6. Other Costs**
Independent Examiner (2021 - Audit)
Management/Administration
**7. Support Costs**
Staff/ Contractor Costs
Office Running Costs|**Direct**
**Costs**
**£**
1,336
5,686
14,987
145
4,477
-
26,631
1,980
-
1,980|**Support**
**Costs**
**£**
4,296
-
46,400
859
13,748
1,718
67,021
-
18,904
18,904|**2022**
**£**
1,821
-
3,355
96
5,272
**2022**
**£**
113,227
58
113,285
**2022**
**£**
7,101
19,204
715
27,020
**Total**
**2022**
**£**
5,632
5,686
61,387
1,004
18,225
1,718
93,652
1,980
18,904
20,884
**£**
56,086
29,839
85,925|**2021**
**£**
837
556,476
-
500|
|---|---|---|---|---|
|||||557,813|
|||||**2021**
**£**
87,735
20|
|||||87,755|
|||||**2021**
**£**
7,532
16,971
241|
|||||24,744|
|||||**Total**
**2021**
**£**
7,400
3,214
51,663
2,367
13,321
2,794|
|||||80,759|
|||||4,500
11,176|
|||||15,676|
|||||**£**
55,155
14,694|
|||||69,849|
Support costs are allocated on the following percentages based on employee and volunteer hours: Education 5% (2021 – 9%), Publicity 16% (2021 – 16%), Library 1% (2021 – 3%), Other 22% (2021 – 16%), Books and publications 54% (2021 – 52%), Membership 2% (2021 – 4%).
Page 14
**Esperanto-Asocio De Britio**
**Notes to the Accounts**
**For the year ended 31 October 2022 (continued)**
|**8. Staff costs and numbers**
Salaries
Defined Contribution Pension Contributions|**2022**
**£**
30,780
736
31,516|**2021**
**£**
29,784
706|
|---|---|---|
|||30,490|
No employees received emoluments of more than £60,000 in the year (2021 – none) The average number of employees during the year was one (2021 – one)
## **9. Trustees Remuneration, Expenses and Related Party Transactions**
No trustee received any remuneration during the year. (2021 – nil)
Travel and subsistence expenses totalling £225 were paid to 4 trustees (2021: £nil).
During the year Mr Tim Owen was engaged as Director of the charity and was paid £24,570. (2021 - £24,592). He is in a co-habiting relationship and financially interdependent with trustee, Clare Hunter. Charity Commission consent was obtained prior to his appointment.
In addition, Tim Owen received an educational grant of £668 (2021 - £680).
|**10. Fixed Assets**
Cost at 01.11.21 and 31.10.22
Depreciation at 01.11.21
Charge for the year
Depreciation at 31.10.22
Net Book value 31.10.22
Net Book value 31.10.21|**Leasehold**
**Premises**
**£**
183,999
36,800
1,840
38,640
145,359
147,199|**Library**
**£**
**Equipment**
**£**
1
5,095
-
5,095
-
-
5,095
1
-
1
-|**Total**
**£**
189,095|
|---|---|---|---|
||||41,895
1,840|
||||43,735|
||||145,360|
||||147,200|
No information on historical cost and accumulated depreciation is available for the library.
Page 15
## **Esperanto-Asocio De Britio**
## **Notes to the Accounts**
## **For the year ended 31 October 2022 (continued)**
|**11. Listed**
**Investments**
UK Listed
Investments
Scottish Widows
Deposit
Listed Investments
at 01.11.21
Additions at cost
Disposals
Profit on disposal
Increase/(Decrease)
in market value
Investments held at
31.10.22
Historic cost|**Unrestricted**
**Funds**
**£**
**Designated**
**Funds**
**£**
**Endowment**
**Funds**
**£**
**Total**
**2022**
**£**
2,550,843
504,432
96,230
3,151,505
20,000
20,000
2,570,843
504,432
96,230
3,171,505
2,798,673
614,492
106,032
3,519,197
-
-
-
-
-
-
- -
-
-
- -
(247,830)
(110,060)
(9,802)
(367,692)
2,550,843
3,151,505
504,432
96,230
1,806,164
614,776
56,000
2,474,714|**Total**
**2021**
**£**
3,519,197
20,000|
|---|---|---|
|||3,539,197|
|||2,359,422
1,091,776
(427,046)
61,224
433,821|
|||3,519,197|
|||2,474,714|
Listed investments comprise the following:
|**Holding**
**31.10.21**
**Unrestricted Fund**
434,985 COIF Charities Global Equity Income Fund
377,618 COIF Charities Ethical Investment Fund
187,667 Charities Property Fund
165,911 EdenTree Amity Balanced Fund for Charities
**Designated Fund**
548,653 EdenTree Amity Balanced Fund for Charities
**Endowment Fund**
34,636 COIF Charities Ethical Investment Fund (Brownlee)|**2022**
**£**
1,079,719
1,049,136
269,449
152,539
2,550,843
504,432
96,230
3,151,505|**2021**
**£**
1,216,130
1,156,002
240,721
185,820|
|---|---|---|
|||2,798,673
614,492
106,032|
|||3,519,197|
Page 16
**Esperanto-Asocio De Britio**
## **Notes to the Accounts**
## **For the year ended 31 October 2022 (continued)**
|**12. Debtors**
**2022**
**£**
VAT
658
Other debtors and prepayments
4,373
5,031
**13. Creditors: Amounts falling due within**
**one year**
**2022**
**£**
Funds held on behalf of others
7,902
PAYE and NI
521
Other creditors and accruals
29,661
38,084
**Funds held on behalf of others are as follows:**
**Balance**
**31.10.21**
**£**
**Income**
**£**
Junularo Esperantista Brita
1,006
**-**
Southampton Esperanto Group
1,734
-
South Midlands Esperanto Federation
106
-
North West Esperanto Federation
3,301
-
Yorkshire Esperanto Federation
668
-
Eastern Esperanto Federation
838
-
Scottish Esperanto Association
15
-
Esperanto Lobby
2
-
International League of Esperanto Radio
Amateurs (British Section)
343
-
8,013
-
**14.Unrestricted**
**Funds**
**Balance**
**at**
**31.10.21**
**Incoming**
**Resources**
**Resources**
**Expended**
Designated
Funds
“Capital Fund”
873,742
1,840
NoJEF Fund
620,211
29,851
5,686
Unrestricted
2,130,617
115,726
108,850
3,624,570
145,577
116,376|**Income**
**£**
**-**
-
-
-
-
-
-
-
-|**Expenditure**
**£**
**-**
-
-
45
51
-
15
-
-
111
**Investment**
**gain/(loss)**
(110,060)
(247,830)
(357,890)|**Expenditure**
**£**
**-**
-
-
45
51
-
15
-
-|
|**2021**
**£**
155
1,731|
|---|---|---|---|---|---|
||||||1,886|
||||||**2021**
**£**
8,013
492
28,473
36,978
**Balance**
**31.10.22**
**£**
1,006
1,734
106
3,256
617
838
-
2
343
7,902|
||-||111|||
||||||**Balance**
**At**
**31.10.22**
871,902
534,316
1,889,663|
||||||3,295,881|
The “Capital Fund” represents the sale proceeds of property sold in 1999 less the depreciation charged on the leasehold property.
The NoJEF Fund represents amounts donated by the Norwich Jubilee Esperanto Foundation and designated to further the original purposes of that charity, being the advancement of education in the study and practice of Esperanto, in particular by awarding grants.
Page 17
## **Esperanto-Asocio De Britio**
## **Notes to the Accounts**
## **For the year ended 31 October 2022 (continued)**
## **14. continued**
|**Unrestricted**
**Funds**
Designated
Funds
“Capital Fund”
NoJEF Fund
Unrestricted|**Balance**
**at**
**31.10.20**
875,582
58,300
1,640,148
2,574,030|**Incoming**
**Resources**
565,409
104,903
670,312|**Resources**
**Expended**
1,840
3,214
93,221
98,275|**Investment**
**Gain/(loss)**
(284)
478,787
478,503|**Balance**
**At**
**31.10.21**
873,742
620,211
2,130,617|
|---|---|---|---|---|---|
||||||3,624,570|
|**15. Analysis of net assets between funds**
Tangible Fixed Assets
Investments
Net Current Assets
**Analysis of net assets between funds**
Tangible Fixed Assets
Investments
Net Current Assets|**Unrestricted**
**Funds**
**£**
145,360
3,075,275
75,246
3,295,881
**Unrestricted**
**Funds**
**£**
147,200
3,433,165
44,205
3,624,570|**Endowment**
**Funds**
**£**
96,230
96,230
**Endowment**
**Funds**
**£**
106,032
106,032|**Total**
**2022**
**£**
145,360
3,171,505
75,246|
|---|---|---|---|
||||3,392,111|
||||**Total**
**2021**
**£**
147,200
3,539,197
44,205|
||||3,730,602|
## **16. Operating Lease**
In 2002 the Charity entered into a 99 year lease on Esperanto House, the property from which it operates. Rent payable is as follows:
**£** Within one year 2,208 Within two to five years 8,832 After more than five years 163,392
Page 18