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2020-12-31-accounts

Registered number: 02053063 Charity number: 295198

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12 - 13
Notes to the financial statements 14 - 25

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees Josephine Mary Burt, Chair
Josephine Winifred Thomson (resigned 14 September 2020)
Kathleen Jennifer Johnson
Gillian Anne Wignall, Treasurer
Ann Fox
Janet Theresa Fuller (appointed 14 September 2020)
Company registered
number
02053063
Charity registered
number
295198
Registered office
Unit 31
Park Farm Industrial Estate
Ermine Street
Buntingford
SG9 9AZ
Accountants
Larking Gowen LLP
Chartered Accountants
King Street House
15 Upper King Street
Norwich
NR3 1RB

Page 1

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the financial statements of the Company for the 1 January 2020 to 31 December 2020. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The charity is principally engaged in the organisation of groups offering women the opportunity to take part in stimulating, informal discussions, workshops and conferences on a wide range of topics both locally and online. A register of Local Organisers and Members and a website is maintained to enable members and enquirers to find out about and contact any local NWR group throughout the United Kingdom or abroad. We also support independent members who do not belong to any group but who may participate in online discussions and events.

The Trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the NWR should undertake.

b. Main activities undertaken to further the Company's purposes for the public benefit

In our purpose we aim to offer public benefit in the following categories:

Our social impact is the welcome we offer all women and the opportunities for learning and enhancing selfesteem. Being part of a local community group and national organisation foster personal growth and understanding. In today’s social landscape NWR contributes to the loneliness and mental health agendas, helping potentially isolated women or those with mental illnesses to make friends, share ideas and be part of their local community.

Page 2

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance

a. Charitable activities

The main activity of the organisation centres on the regular meetings of local groups attended by members. This is supplemented by a wide range of area and regional events including discussion lunches (usually with speakers), quizzes and visits. These activities help our members by connecting them with each other and by presenting the opportunity for thought-provoking and educational experiences that enriches their lives.

2020 was the 60th anniversary of NWR and nationally and locally we planned extensive activities to celebrate this event. We were able to achieve our anniversary day on 26 February with twelve simultaneous regional meetings and the streaming of the main presentations. However other events throughout 2020 were cancelled. During the anniversary week, an article about NWR appeared in the Guardian and the National Organiser and a Trustee were interviewed on Radio 4 Woman’s Hour. These both raised the profile of NWR nationally among women as did the repeat of the ‘Eggheads’ television programme with the NWR team in July 2020. We published an additional anniversary issue of our magazine in July.

From mid-March 2020, the Coronavirus lockdown restrictions meant that local and area group meetings were banned. While some groups managed outdoor meetings with groups of six during the summer, by the autumn, we were in lockdown again. However, the National Organiser swiftly bought a Digital Theatre Plus licence for members so that they could view plays and interviews. Additionally, the National Organiser researched and commissioned a series of talks and quizzes from mid-April, accessed by the conferencing platform Zoom which enabled us to connect with other members across the country. When the speaker gives permission, we record the talk and make it available to members via YouTube. In the summer national discussions sessions aimed at independent members, were also successfully trialled.

Many local groups also signed up to Zoom as a way of staying connected and recommenced their planned discussion and book group discussions.

In 2020 the national theme was ‘2020 vision’ and our focus country was Finland. This allowed groups and members many opportunities to explore these topics and develop their knowledge.

The 2020 Anniversary National Conference due to take place in September in Birmingham was postponed. However, it was replaced by our first ever online conference 14 – 25 September comprising the AGM, nine talks and a quiz.

We have two special interest groups to bring members together across the UK – postal book group, and e- friends and correspondence magazines and e-mags. Once again, the Telephone Treasure Trail proved popular with 203 groups participating in a challenging but enjoyable quiz.

We continue to promote our mission of bringing women together via social media channels. We have NWR Facebook, Twitter and Pinterest accounts for marketing.

We encourage volunteers who bring enthusiasm as well as experience and knowledge of the organisation to take on roles within NWR. In 2020 these included a new Trustee, and changes of area and local organisers. Reciprocally, NWR offers the opportunities to continue to develop self-esteem and enhance skills, particularly digital skills. However, we planned additional staff posts, a new CRM and website and relocation of the office to support the organisation and add value to membership.

Raising awareness of NWR to increase members continues to be a key priority. Our patron, Marion Molteno, a prize-winning novelist and writer, provided interviews via Zoom. All sessions were well received and well attended.

Page 3

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance (continued)

In October 2020, we carried out a Digital Survey to understand how much and what technologies members adopted in lockdown to replace face-to-face meetings and gauge satisfaction with NWR.

b. Impact

In normal times there would be approximately 10,000 meetings held per year bringing together 5746 (December 2020) members in 359 groups. There is no reason to doubt this figure for 2020 as groups and members made their own arrangements via Zoom, Skype, WhatsApp, phone and email. 2020 saw a doubling of independent members to 59. These are members not attached to any group but who can participate in Zoom sessions, social media discussions and events.

The retention rate for members for 2020 was 87% with 210 new members and 825 leavers The South East, Midlands and South West regions have consistently shown the highest number of members. No new groups were started in 2020 and 10 groups closed.

There were 34 talks and quizzes offered between April and December with average attendances of 150 for spring and summer events and 264 for autumn events. Feedback survey ratings of satisfaction averaged 4.2 (out of 5). Such is the swift adoption and technical mastery of Zoom by members that the original licence for 200 participants for talks was quickly increased 500 and now (Jan 2021) is 1000 participants. It is pleasing to see how engagement with NWR as a national organisation has increased during Covid times. The Digital Survey responses showed that 73% of groups held online meetings since April 2020. These were for discussion meetings, book groups and social meetings.

The anniversary events of 26 February and some of the talks and quizzes are recorded and made available to members via the video sharing platform, YouTube. Between February and December 2020, there were 2284 viewings and 575 hours watched.

The online conference was considered highly successful attracting new members to participate in the AGM, and over 2,830 bookings over the two weeks with an average of 177 per talk.

There were 12 regional events held on 26 February 2020 to celebrate our 60th anniversary but other planned regional and area anniversary events were cancelled. This compares to 13 area events held in the whole of 2019. The Scrapbook project progressed slowly due to Coronavirus restrictions on meeting and will continue in 2021. It involved all groups in recording a history of their group across two A3 pages. The benefit is in recalling group history and the transfer of the regional scrapbooks between groups which brings local groups together. Another national anniversary initiative was the tree purchase with the Woodland Trust. A total of 815 trees were bought which will be planted in 2021. The impact is that members’ appreciation of and identification with the national aspect of the organisation, of which they are a part, has greatly increased.

The twice-yearly magazine had an additional commemorative anniversary issue in July. Contributions, articles, memories and poems from members are welcome and the magazine is well received. Text and audio copies are available to members on the website. The magazine and wrapping are also as environmentally friendly as they can be after a review of its production and mailing. Another communication, the newsletter is read by 74% of members.

Social media usage continues to increase and links members across the country with 58% of responses to the Digital Survey participating in Facebook. Instagram and Twitter are also popular. Hashtags are #morethancoffeeandachat, #livelymindedwomen. The themed private Facebook discussion groups run and moderated by members provide stimulating and thought-provoking posts and news. They also enable programme sharing and allow members to share their thoughts and link with others across the UK.

Page 4

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance (continued)

Subscriptions remained at £25 per annum this year for the second year. The adoption of direct debits continues to be encouraged and 50% of members had signed up by the end of 2020. We continue to advocate a transfer to this type of payment which saves us time and money.

In the Digital Survey responses, the Net Promoter Score increased from 33% in 2018 to 36% in 2020 reflecting how much more aware members are of the national organisation and the value of the centrally organised Zoom offerings this year.

We have a Hardship Fund to support members on low incomes. There were no applications in 2020.

Our first patron, Marion Molteno, continued to provide new and different opportunities to members in 2020. She has run several creative writing sessions and a series of interviews via Zoom with poets, writers, educators and the book trade.

Some quotes from our members completing the Digital Survey 2020, illustrating our value to members, are -

‘I have made new friends, discussed things I would never normally think about and attended events as part of the group. I love it!’

‘NWR head office has been amazing over lockdown. I get a great deal out of my membership and wish the same for others’

‘The local NWR group has been extremely supportive during the pandemic in addition to offering friendship and mental stimulation. I have not registered for any of your talks but I have watched many of them online afterwards eg today I watched the talk on the history of handbags. I feel that HQ have done a lot more than most organizations during this strange period.’

c. Investment policy and performance

Under the Memorandum and Articles of Association, the charity has the power to make any investments which the Trustees see fit. NWR has an investment policy which is regularly reviewed. The charity's investments represent share accounts held with the Charities Official Investment Fund and Newton Investments which generate annual income. The investment funds had a market value at 31 December 2020 of £78,660 (2019: £75,113)

Financial review

a. Going concern

At the time of signing the financial statements, the Trustees have considered the potential impact of the Coronavirus outbreak on the Charity. The Trustees continue to monitor the position and the potential impact that this may have on both the general economic climate and the Charity's operating capacity. The Trustees believe that with a strong loyal customer base and sufficient balance sheet resources the Charity is well placed to see through the current trading uncertainty. The Trustees consider that this will allow the Charity to manage this difficult situation and continue to meet its customer’s requirements and ongoing liabilities for the foreseeable future.

Page 5

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

b. Reserves policy

The Reserves Fund represents the unrestricted funds arising from past operating results. The Articles of Association state that the financial reserves must be sufficient to cover four months' running costs. In addition the Trustees have agreed to maintain a balance of reserves to cover contingencies such as funding the national conference. Therefore, the minimum balance is currently £100,000 and we have £178,526 to cover this. The trustees agreed to allocate amounts to specific projects e.g. the anniversary events and activities, website, CRM and branding, staffing and relocation as set out in the Strategic and Operational Plans 20192022.

Structure, governance and management

a. Constitution

NWR is a company limited by guarantee and not having a share capital, as now defined by the Companies Act 2006. It was established under a Memorandum of Association and is governed by the Articles of Association adopted. The date of incorporation was 5 September 1986. A series of amendments to the Articles of Association have been agreed over the years at the annual AGM and the changes registered with the Charity Commission. The changes, especially updating the methods of communication, meant that we were well placed to operate effectively during the lockdown.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

The number of trustees shall not be less than three, nor, unless otherwise determined by a General Meeting, more than five. NWR always recruits trustees from its members and a ballot is held if necessary.

There were five trustees in place throughout 2020. Observers at trustee meetings are always welcome. One change of Trustee took place in 2020 because Josephine Thomson resigned, and, after a ballot, Jan Fuller was elected.

c. Organisational structure and decision-making policies

The Trustees have the ultimate responsibility for the running of NWR and for the making of decisions. The dayto-day running is delegated to the National Organiser, Natalie Punter, who manages the Communications Coordinator, the Finance Manager, a Regional Membership Co-ordinator and two Membership Administrators in the office.

The Trustees undertook a review of governance guided by the Charity Governance Code during the year.

The AGM was successfully held via the video conferencing platform Zoom in September which opened it up to more members and was welcomed.

Page 6

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

d. Staffing

Total work hours during 2020 fluctuated due to sick leave, temporary staff and appointments. All posts are part-time. From April 2020 staff mostly worked from home due to Coronavirus advice. We advertised 4 posts in the autumn of 2020 and made 3 appointments for 2021.

On-going staff and Trustee development are important, and the events attended in 2020 are:

Networking with other membership and charity organisations for staff and Trustee provides support and information in a fast-changing environment. NWR participates in

e. Infrastructure

We planned to relocate the office in 2020 from Norwich to Hertfordshire so that staff could work together more effectively. With everyone working from home from April we made extensive use of the conferencing platform Zoom for staff and Trustee meetings.

We continue to focus on recruitment and retention of members by improving processes to enhance this key activity. Due to the closure of local group meetings, staff worked creatively to provide other activities to add value to membership. Unfortunately, we were unable to capitalise on the anniversary publicity and lost members who found technology challenging so membership continued to fall during this year. Group closure is mainly due to the maturity of the members, failure to recruit new members and often lack of engagement with activities outside their local group.

Page 7

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

f. GDPR

We finish 2020 with all those GDPR preferences, that we have received, noted although not all members have notified us of their preferences. With the new website we anticipate a self-service for member information so that members manage all their preferences themselves.

There was one incident reported, of a lost list of names, and the agreed procedures were followed.

Plans for future periods

We are extending our anniversary celebrations into 2021 with the Birmingham conference now rescheduled for September as ‘Diamonds are forever’. A diamond prize draw is underway, and the tree planting will take place in the autumn. The next national conference in 2022 will be in the North East.

A second online conference is planned for 19-30 April and a programme of talks, including a murder mystery evening and quizzes is organised for the first six months.

Weekly newsletters are now sent and a bi-monthly activities publication has started. While we will continue to explore publicity opportunities within our budget, social media and word-of-mouth are our main recruiting methods.

We continue with digital improvements to increase and enhance services to members and efficiency within the organisation. We are working with our digital partner, ‘Tall Projects’, specialists in website and CRMs, who have replaced our CRM and are developing a new website for the early summer. Integration is the key including online registration, event payments and subscription payments. The aim is to provide additional features such as self-service and content for members and an enhanced registration facility for new enquirers. We continue to encourage the take-up of direct debits for membership fees. Training and support for members using Zoom continues.

One new post of Regional Membership Coordinator for the central region is in place and another, for the South West, will be recruited this year. These are pilots with the aim of increasing membership and supporting the establishment of new groups and independent members.

We moved into our new offices in January 2021 and team working will be developed once travel and working restrictions are lifted.

Due regard is paid to risk analysis, having current policies and procedures and staff and Trustee personal development objectives to achieve the plan. NWR works with several outsourced suppliers for the magazine production and distribution, human resources advice and support and digital and technology support. We will continue to monitor the implementation of the Strategic Plan and the Budget quarterly, adjusting tasks, operations and finances to meet needs and staff resources. A planning session and awayday is scheduled for summer 2021 so that a new Strategic and Operational Plan is developed for 2022 – 2025.

The main challenge NWR faces is its ageing membership, difficulties in recruiting new members, reliance on subscription income and adapting to the digital world.

Page 8

NATIONAL WOMEN'S REGISTER A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020 Statement of Trustees, re5pon$ibiliti&s The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. report and the financial slalemenls in accordance wlh applicable law and United Kingdom Accounting Standards (United Kingdom Genera51y Accepted Accounting Praclicel. Company law requires the Trustees lo prepare financial statements for each financial . Under company law, the Trustees must not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP {FRS 1021., make judgments and accounting 8slimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial slatemerrts.. prepare the financial statements on the going concern basis unless il Is inappropriate to presume that the Company will continue in bu&ness. The Trustees are responsible for keeping adequate accounting records th818re sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any lime the financial position of the Company and enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and he￿￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: osep Chairper eBurt Dale.. Page 9

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

Independent examiner's report to the Trustees of National Women's Register ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that 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 accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 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 'true 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 the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent 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 my work or for this report.

Signed: Dated: 7 May 2021 Christopher Yeates FCA DChA

Larking Gowen LLP Chartered Accountants Norwich

Page 10

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Income from:
Donations
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
Total expenditure
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2020
£
485
153,616
2,300
156,401
162,157
162,157
3,547
(2,209)
219,514
(2,209)
217,305		 Total
funds
2020
£
485
153,616
2,300
156,401
162,157
162,157
3,547
(2,209)
219,514
(2,209)
217,305		 Total
funds
2019
£
311
176,948
2,827
180,086
198,286
198,286
11,204
(6,996)
226,510
(6,996)
219,514

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 25 form part of these financial statements.

Page 11

NATIONAL WOMEN'S REGISTER (A company limited by guarantee) REGISTERED NUMBER: 02053063

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Unrestricted funds
14
Total funds		 19,945
123,460
143,405
(43,538)		 2020
£
38,779
78,659
117,438
99,867
217,305
217,305
217,305
217,305		 13,694
154,817
168,511
(26,686)		 2019
£
2,577
75,112
77,689
141,825
219,514
219,514
219,514
219,514

Page 12

NATIONAL WOMEN'S REGISTER IA Company limited by guarantee) REGISTERED NUMBER.. 02053063 BALANCE SHEET {CONTINUEDI AS AT 31 DECEMBER2020 The Company was entitled to exemption from audit uncler section 477 of the Companies Act 201K. The merllters have not required the company to obtain an audit for the year in question in accordance wilh section 476 of Companies Ad 2006. The Trustees acknowledge their reSpon￿bIlItIeS for complying wth the requiremenls of the Act wth rospect to accounting records and preparatton of financial slalements. The financial statements have been prepared in accordano with thg provi￿On$ appllcable lo entilies Su￿.eCt to the small companies regime. The financial stst8ments were approved and aulhaised for issue by the TTEJ$lees and signed on their behalf by-. ine Chairperscn Date.. Gillian Anne Treasurer The notes on pages 14 to 25 form part of those financial statements.

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. General information

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

National Women's Register 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.

The income, expenditure, assets and liabilities of the charity's groups are not included in these financial statements on the basis that they have significant autonomy and the funds held by the groups are not under the direct control and management of the trustees.

2.2 Going concern

At the time of signing the financial statements, the Trustees have considered the potential impact of the Coronavirus outbreak on the charity. The Trustees continue to monitor the position and the potential impact that this may have on both the general economic climate and the Charity's operating capacity. The Trustees believe that with a strong loyal customer base and sufficient balance sheet resources the Charity is well placed to see through the current trading uncertainty. The Trustees consider that this will allow the Charity to manage this difficult situation and continue to meet its customer’s requirements and ongoing liabilities for the foreseeable future.

Page 14

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

More specifically the following policies are adopted:

Subscription income is included in full in the Statement of Financial Activities in the financial year in which they are receivable

Grants received have been accounted for on a receipts basis. Certain conditions attach to these grants and the trustees have endeavoured to ensure that these conditions have been complied with

Bank interest and dividends are generated from UK investments and are included in the Statement of Financial Activities on an actual basis

Cash donations and gifts are included in full in the Statement of Financial Activities as they are received

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Office equipment - 33% on cost and 25% on cost Website - 10% on cost

Page 15

NATIONAL WOMEN'S REGISTER (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and 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.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The Company 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.

2.11 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 16

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. Income from donations

Unrestricted
funds
2020
£
Donations
485
Total 2019
311		 Total
funds
2020
£
485
311		 Total
funds
2019
£
311

4. Income from charitable activities

Unrestricted
funds
2020
£
Subscriptions
124,998
Gift Aid
16,003
National conference income
4,469
Educational events income
388
Other income
7,758
Total 2020
153,616
Total 2019
176,948
Investment income
Unrestricted
funds
2020
£
Bank interest and dividends
2,300
Total 2019
2,827		 Total
funds
2020
£
124,998
16,003
4,469
388
7,758
153,616
176,948
Total
funds
2020
£
2,300
2,827		 Total
funds
2019
£
125,571
15,343
24,864
1,355
9,815
176,948
Total
funds
2019
£
2,827

5. Investment income

Page 17

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

6. Analysis of expenditure by activities

Organisation of groups
Total 2019
Analysis of direct costs
Area care and information
Conference
Magazine
Trustee expenses
Training and workshops
Publicity
Educational events
Bad debts
Total 2020
Total 2019		 Activities
undertaken
directly
2020
£
48,110
59,511		 Support
costs
2020
£
114,047
138,775
Activities
2020
£
13,490
482
25,799
2,447
180
2,543
3,169
-
48,110
59,511		 Total
funds
2020
£
162,157
198,286
Total
funds
2020
£
13,490
482
25,799
2,447
180
2,543
3,169
-
48,110
59,511		 Total
funds
2019
£
198,286
Total
funds
2019
£
3,188
26,151
21,313
6,610
1,682
71
277
219
59,511

Page 18

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Activities
2020
£
Staff costs
78,407
Depreciation and loss on disposal
1,299
Office costs
24,372
Insurance
1,930
Recruitment costs
1,198
Staff expenses
2,827
Accountancy and professional fees
4,014
Total 2020
114,047
Total 2019
138,775
7.
Independent examiner's remuneration
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts
Fees payable to the Company's independent examiner in respect of:
All other services not included above
8.
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Total
funds
2020
£
78,407
1,299
24,372
1,930
1,198
2,827
4,014
114,047
138,775
2020
£
1,950
-
2020
£
75,531
1,645
1,231
78,407		 Total
funds
2019
£
94,481
1,254
26,668
1,997
145
11,559
2,671
138,775
2019
£
1,875
375
2019
£
89,402
3,456
1,623
94,481

Page 19

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. Staff costs (continued)

The average number of persons employed by the Company during the year was as follows:

2020 2019
4 5

No employee received remuneration amounting to more than £60,000 in either year.

Total employee benefits of key management personnel were £27,010 (2019: £25,500).

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL) .

During the year ended 31 December 2020, expenses were reimbursed or paid directly to 1 Trustee (2019 - to 5 Trustees) broken down as follows:

2020 2019
£ £
Trustee expenses 23 6,610

Page 20

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

10. Tangible fixed assets

Cost or valuation
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
On disposals
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
11.
Fixed asset investments
Cost or valuation
At 1 January 2020
Revaluations
At 31 December 2020		 Office
equipment
£
6,379
-
(479)
5,900
3,802
1,019
(200)
4,621
1,279
2,577		 Website
£
8,750
37,500
-
46,250
8,750
-
-
8,750
37,500
-		 Total
£
15,129
37,500
(479)
52,150
12,552
1,019
(200)
13,371
38,779
2,577
Listed
investments
£
75,112
3,547
78,659

Page 21

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

12. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2020
£
327
356
19,262
19,945		 2019
£
280
-
13,414
13,694

The planning and organisation of future National Women's Register conferences commences in the latter part of each financial year. On this basis costs are already generated during the year to 31 December 2020 with regards to the National Women's Register 60th birthday celebrations to be held in 2021. £17,654 (2019: £11,806) of costs are included in prepayments and will be carried forward to be accounted for once the celebrations have taken place.

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income
Deferred income at 1 January 2020
Resources deferred during the year		 2020
£
14,176
543
1,992
26,827
43,538
2020
£
6,790
18,086
24,876		 2019
£
9,818
5,516
2,312
9,040
26,686
2019
£
-
6,790
6,790

Deferred income relates to conference income received in advance.

Page 22

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. Statement of funds

Statement of funds - current year

Balance at 1
January
2020
£
Unrestricted funds
Designated funds
Conference funds
2,871
General funds
General Funds
216,643
Total Unrestricted funds
219,514
Statement of funds - prior year
Balance at
1 January
2019
£
Unrestricted funds
Designated funds
Conference funds
3,774
General funds
General Funds
222,736
Total Unrestricted funds
226,510		 Income
£
Expenditure
£
4,469
(574)
151,932
(161,583)
156,401
(162,157)
Income
£
Expenditure
£
24,864
(25,767)
155,222
(172,519)
180,086
(198,286)		 Gains/
(Losses)
£
-
3,547
3,547
Gains/
(Losses)
£
-
11,204
11,204		 Balance at
31
December
2020
£
6,766
210,539
217,305
Balance at
31
December
2019
£
2,871
Unrestricted funds
Designated funds
Conference funds
General funds
General Funds
Total Unrestricted funds
216,643
219,514

Within unrestricted funds, £6,766 is held by the Trustees at 31 December 2019 (2019: £2,871) as a designated fund to be used solely on future Conference activities. This represents net surpluses made from previous Conferences and the intention is for it to be used as and when required to subsidise future Conferences.

Page 23

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

15. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2020
£
Tangible fixed assets
38,779
Fixed asset investments
78,659
Current assets
143,405
Creditors due within one year
(43,538)
Total
217,305		 Total
funds
2020
£
38,779
78,659
143,405
(43,538)
217,305

Analysis of net assets between funds - prior period

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2019
£
2,577
75,112
168,511
(26,686)
219,514		 Total
funds
2019
£
2,577
75,112
168,511
(26,686)
219,514

16. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £1,645 (2019 - £1,623). No amounts were payable to the fund at the balance sheet date (2019: £Nil)..

Page 24

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

17. Operating lease commitments

At 31 December 2020 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2020
£
585
146
731		 2019
£
1,155
731
1,886

The following lease payments have been recognised as an expense in the Statement of financial activities:

2020 2019
£ £
Operating lease rentals 1,155 1,009

18. Related party transactions

The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 December 2020.

Page 25