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 2022
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 - 8 |
| Independent examiner's report | 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 - 12 |
| Notes to the financial statements | 13 - 24 |
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | Gillian Anne Wignall, Chair |
|---|---|
| Ann Fox | |
| Janet Theresa Fuller, Treasurer | |
| Josephine Mary Burt (resigned 9 October 2022) | |
| Kathleen Jennifer Johnson | |
| Marion Alexis Watts (appointed 9 October 2022) | |
| 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 Prospect House Rouen Road Norwich NR1 1RE |
Page 1
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of the Company for the 1 January 2022 to 31 December 2022. 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:
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The advancement of education through discussion topics in group programmes, national themes and countries and various national, regional and area events held
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The advancement of health by discussing various health issues and sharing information and promoting a sense of connection and friendship between women
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The advancement of citizenship or community development by being open to all women, respectful, friendly, interested in all issues and welcoming local speakers to inform and lead discussions
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The advancement of arts, culture, heritage or science by running book groups, visits to arts venues, exploring other countries and researching current topics
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The advancement of human rights, conflict resolution or reconciliation or the promotion of religious or racial harmony or equality and diversity by researching, discussing and understanding others' points of view.
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 all women, including 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 2022
Achievements and performance
a. Charitable activities
The main activity of the organisation centres is the regular meetings of local groups attended by members. This is supplemented by a wide range of area and regional events including conferences, 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 enrich their lives.
The beginning of 2022 was slightly affected by the coronavirus restrictions, but as the year progressed, these were gradually lifted and groups began to meet indoors again, although some members remained cautious about meeting face-to-face. The National Organiser continued to research and commission talks and quizzes during the year, accessed by the conferencing platform Zoom. This continued to enable our connections with other members across the country. When the speaker gives permission, we record the talk and make it available to members via YouTube. The online offering continued to be appreciated by members, in particular the much increased number of Independent members.
Many local groups continued with Zoom as a way of staying connected, in addition to recommencing their planned discussion and book group discussions. Some groups continued with a hybrid of some members meeting face to face and others joining by Zoom. Nationally, we continued to subscribe to the Zoom licences, enabling groups to book sessions, and many took advantage of this free offer. Four areas organised day conferences.
In 2022 the national theme was ‘Our evolving relationship with food’ and our focus country was the USA. This allowed groups and members many opportunities to explore these topics and develop their knowledge.
The 2022 National Conference and AGM took place in September in Newcastle. The theme of the conference was ‘Insatiable Consumption’. There was a wide variety of interesting speakers and it was attended by more than 220 members.
The two online groups for discussions, set up in 2021, continue to attract independent and group members. They organise their own programme of discussion topics. We have two special interest groups to bring members together across the UK – the Postal book group, and the Correspondence magazine/e-mags. Once again, the Telephone Treasure Trail proved popular with 272 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, Instagram 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. Reciprocally, this offers opportunities to continue to develop self-esteem and enhance skills, particularly digital skills. In 2022, our National Organiser became ill and she resigned in June. The Office staff did a sterling job filling the void left by her resignation until we appointed a new NO, who started work in September.
Raising awareness of NWR to increase members continues to be a key priority. Our first patron, Marion Molteno, left in September at the end of her term. Jasvinder Sanghera continues in her role as patron, and we appointed Jo Moseley, who will provide a complementary input and a different network of contacts to raise awareness of NWR.
A new, brighter and more modern website was launched in October 2021 and we continue to work with the web designers to further improve it. This design has enhanced features for members to enable more self service for members and easier joining and payment for new enquirers.
Page 3
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance (continued)
b. Impact
At the end of December 2022, we had 329 groups and 5032 members, including 96 independent members. Independent members are not attached to any group, but they can participate in Zoom sessions, social media discussions and all events.
The retention rate for members for 2022 was 86% (85% in 2021) with 440 new members and 750 leavers. Of the new members, 177 were members who had previously left NWR. 4 new groups were started in 2022 and 21 groups closed. There were 8 talks and quizzes offered in 2022 with average attendances of 71 members.
These numbers are much lower than 2021 as our members went back to face to face meetings. We see online content as a valuable part of our member benefits, but personal contact is an essential part of our ethos and we were all very happy to return to that. Group meetings in 2022 were either face to face, or a hybrid of some members meeting face to face and others joining via Zoom. These were for discussion meetings, book groups and social meetings. Some of the online talks are recorded and made available to members via the video sharing platform, YouTube. In 2022 there were 1359 viewings and 138.5 hours watched. There were 4 area and regional events held in 2022, which were quite well attended, but some members were still uncomfortable about attending larger gatherings. A new event, designed to bring groups together, was the NWR Walk. 122 groups took part and their members walked a total of more than 5,000 miles in 250 walks. This was a fantastic level of participation. The Annual Conference was held in Newcastle and it was a great success, with 220 members attending. The theme of Insatiable Consumption was thoroughly explored. Additionally, we held a Christmas prize draw, which attracted 331 purchases and raised funds for NWR.
The Scrapbook project is progressing and we now have 7 scrapbooks, with a total of 640 pages, awaiting digitisation. Another national anniversary initiative was the tree purchase in association with The Woodland Trust. A total of 815 trees were bought, and they were planted in 2022. There were two printed copies of our magazine distributed in 2022. 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 further review of its production and mailing. Another communication, the Weekly Update has an opening rate of 69% and a click through rate of 14.3%, both higher than 2021 as members see the benefit and appreciate the information contained therein. Social media usage continues to increase, linking members across the country. Hashtags are #morethancoffeeandachat, #livelymindedwomen, #women, and #friendship. The themed private Facebook discussion groups, run and moderated by volunteer 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.
Subscriptions were increased to £30 per annum in 2022. The adoption of direct debits continues to be encouraged and 63% of members had signed up by the end of 2022 (59% in 2021). We continue to advocate a transfer to this type of payment which saves us time and money. We have a Hardship Fund to support members on low incomes. There were no applications in 2022.
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 2022 of £80,568 (2021: £90,137)
Page 4
NATIONAL WOMEN'S REGISTER (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Financial review
a. Going concern
The trustees continue to monitor the position and the potential impact that the pandemic and current cost of living crisis may have on 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 on-going liabilities for the foreseeable future.
b. Reserves policy
The Reserves Fund represents the unrestricted funds arising from past operating results and amounts to £160,755 at 31 December 2022. 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. After excluding the value of fixed assets from the reserves, we have £111,407 to cover this. The trustees agreed to allocate amounts to specific projects and activities, as set out in the Strategic and Operational Plans 2022-2025.
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 have updated methods of communication and have enabled us to appoint two external trustees, if we so wish.
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. At the 2021 AGM a proposal to increase the total number of trustees by two to seven was agreed to enable the recruitment of external trustees. We will continue to recruit five trustees from our members.
There were five trustees in place throughout 2022. Josephine Burt completed her term of office in September 2022 and Gill Wignall replaced her as Chair of Trustees. Marion Watts was inducted as a new trustee. Observers at trustee meetings are always welcome.
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, who manages the Finance Manager, the Membership Manager and two Membership Administrators.
The AGM was successfully held at the National Conference, in Newcastle, in September 2022.
Page 5
NATIONAL WOMEN'S REGISTER (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Structure, governance and management (continued)
d. Staffing
Total work hours during 2021 fluctuated due to sick leave, resignations and appointments. All posts are parttime. During 2022 staff worked from home and from the office in Buntingford. The Communications Coordinator was not replaced.
Due to financial restraints, staff and trustees undertook no formal training during 2022. On going staff and Trustee development are important, but in 2022, training sessions on adding events to the website and using social media, were online and other personal research into various issues, utilised our membership of networking and charity organisations.
Staff and Trustees attended the National Conference.
Networking with other membership and charity organisations for staff and Trustees provides support and information in a fast changing environment. NWR participates in:
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Memberwise
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Association of Chairs
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Association of Chief Executives of Voluntary Organisations (ACEVO)
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The Honorary Treasurers’ Forum
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National Council of Voluntary Organisations (NCVO)
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CharityComms
e. Infrastructure
All staff work from home and from the office in Buntingford. The two staff who live in Norwich attend face to face meetings several times a year as it is important that our staff work together as a team. We continue to make extensive use of the conferencing platform Zoom, for both staff and Trustee meetings.
We continue to focus on recruitment and retention of members by improving processes to enhance this key activity. Unfortunately, we have continued to lose members and more groups have closed, but the rate has slowed and some members are returning. Group closures are due to the maturity of the members, failure to recruit new members and often lack of engagement with any activities outside their local group.
f. GDPR
GDPR preferences are now all in place and with the new website all members can manage their own preferences. There were no GDPR incidents reported in 2022, but agreed procedures are in place if there is an occurrence.
Page 6
NATIONAL WOMEN'S REGISTER (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Plans for future periods
Due to the long term sickness of our National Organiser some plans for 2022 had to be put on hold. Despite the lack of leadership, the members of the 2022 national conference committee, aided by the national office, did a great job, and a very successful conference was held in Northumbria University in Newcastle. Weekly newsletters and a bi monthly activities publication have been maintained.
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 developed a new website. 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 Most of these services are now operational, but we continue to work with Tall Projects to further improve our offering.
We continue to encourage the take up of direct debits for membership fees. Training and support for members using Zoom continues. The trial of Regional Membership Coordinators was not a success and has been abandoned, but a new post of Membership Manager has been created to support the establishment of new groups and independent members.
Due regard is paid to risk analysis, to 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 new Membership Engagement Plan. Monthly financial monitoring continued in 2022, after the setting of a cautious budget. We will adjust tasks, operations and finances to meet needs and staff resources.
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 7
NATIONAL WOMEN'S REGISTER (A company limited by guarantee) TRUSTEES. REPORT (COPINuED} FOR THE YEAR ENDED 31 DECEMBER 2022 Sement of Trnstees. responsibilities The Trustees (who ar8 also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. reFK)rt and the financial statements in accordan wtth applicable law ar United Klngdom Accounting Standards (Unlted Klng(tcKn Generally A(xEpi8d Aixxxjnling Practice). Company law requires the TSteeS to prepare finan(a81 statements for each financial . Under company law, the Tnjslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its inixmning re%xj9 ar applitstion of resources, induding its income 8xpenditure. for that pericd. In preparing these financial statefflents. the TTUStees are required to.. select suitable accounting KM){eS and then apFly them consslently. observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudont.. siale ether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disdosed arHI explain&Y in Ihe financial statements". prepare the financial stalgments on the going corrEm basis unless it is inappropnate to prwme that the Compary will continue in bn. The TTUStees are Tesp)ngble for keeping lequate aOUnting rectyts that are sufficient to show and explain the Company's transactions and disdose rea5(e a¢¢ura¢y at any time the financial position of the Cownpany and enable them to ensure that the financial statements comply the Companies Act 26. They are also responsble for safeguarding the a&sets of the Cotnpany aThJ hen for taktng feasonable steps for the prevenlion and detection of fraLKI and other irregularitie& Approved by order of the members of the board of Ttee$ and signed (m their behaf by: Gillian Anne Chairperson erE5a Fuller Treasurer Dale.. IJ kn I Page 8
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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: Christopher Yeates FCA DChA
Larking Gowen LLP Chartered Accountants Norwich 27 June 2023
Page 9
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) before net (losses)/gains on investments Net (losses)/gains on investments 11 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 24 186,319 2,264 188,607 179,459 179,459 9,148 (9,569) (421) 161,176 (421) 160,755 |
Total funds 2022 £ 24 186,319 2,264 188,607 179,459 179,459 9,148 (9,569) (421) 161,176 (421) 160,755 |
Total funds 2021 £ 66 170,134 2,216 172,416 240,022 240,022 (67,606) 11,477 (56,129) 217,305 (56,129) 161,176 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 24 form part of these financial statements.
All income and expenditure in 2021 was unrestricted.
Page 10
NATIONAL WOMEN'S REGISTER (A company limited by guarantee) REGISTERED NUMBER: 02053063
BALANCE SHEET AS AT 31 DECEMBER 2022
| 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 |
2,359 40,101 42,460 (11,621) |
2022 £ 49,348 80,568 129,916 30,839 160,755 160,755 160,755 160,755 |
3,096 25,018 28,114 (12,930) |
2021 £ 55,856 90,136 |
|---|---|---|---|---|
| 145,992 15,184 |
||||
| 161,176 | ||||
| 161,176 | ||||
| 161,176 | ||||
| 161,176 |
Page 11
NATIONAL WOMEN'S REGISTER IA company limFted by guarantee) REGISTERED NUMBER: 02053063 BALANCE SHE {CONTINUEDI AS AT 31 DECEMBER 2022 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The memr$ have not required the (x)mpany to obtain an a11 for the year in question in accordance with section 476 of Companies Act 20. The Trustees a(*novledge their resportstbilities for (x)mptyin9 th the requirements of the Act SPect Io accounting records and preparation of financial ststements. The financial slalements have been prepared in aLroTdance the pruviOnS applic3ble to entities subject to the small companies r89ime. The financial statements were approved and aulhorised for isyje by the Trust and signed on their behalf by.. Gillian Anne Wi Chairperson Date". l2 Jan Treasurer resa Fuller The notes on pages 13 to 24 form part of financial statements. Page 12
NATIONAL WOMEN'S REGISTER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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
The trustees continue to monitor the position and the potential impact that the pandemic and current cost of living crisis may have on 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 on-going liabilities for the foreseeable future.
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.
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.
Page 13
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
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
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.
Page 14
NATIONAL WOMEN'S REGISTER (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
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 15
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
3. Income from donations
| Unrestricted funds 2022 £ Donations 24 Total 2021 66 |
Total funds 2022 £ 24 66 |
Total funds 2021 £ 66 |
|---|---|---|
4. Income from charitable activities
| Unrestricted funds 2022 £ Subscriptions 127,570 Gift Aid 18,785 National conference income 30,423 Regional and educational events income 992 Other income 8,549 Total 2022 186,319 Total 2021 170,134 Investment income Unrestricted funds 2022 £ Bank interest and dividends 2,264 Total 2021 2,216 |
Total funds 2022 £ 127,570 18,785 30,423 992 8,549 186,319 170,134 Total funds 2022 £ 2,264 2,216 |
Total funds 2021 £ 111,509 23,573 23,443 3,917 7,692 |
|---|---|---|
| 170,134 | ||
| Total funds 2021 £ 2,216 |
||
5. Investment income
Page 16
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities
| Organisation of groups Total 2021 Analysis of direct costs Membership engagement Conference Magazine Trustee and meeting expenses Training and workshops Publicity Regional and educational events Strategic Initiative Bad debts Total 2022 Total 2021 |
Activities undertaken directly 2022 £ 49,818 90,147 |
Support costs 2022 £ 129,641 149,875 Activities 2022 £ 3,099 27,818 17,471 1,327 (19) 82 40 - - 49,818 90,147 |
Total funds 2022 £ 179,459 240,022 Total funds 2022 £ 3,099 27,818 17,471 1,327 (19) 82 40 - - 49,818 90,147 |
Total funds 2021 £ 240,022 |
|---|---|---|---|---|
| Total funds 2021 £ 14,883 43,646 18,142 2,326 175 - 4,016 6,632 327 |
||||
| 90,147 | ||||
Page 17
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Activities 2022 £ Staff costs 77,854 Depreciation and loss on disposal 6,509 Website and social media 20,218 Office costs 17,147 Insurance 1,960 Recruitment costs - Staff expenses 1,543 Accountancy and professional fees 4,410 Total 2022 129,641 Total 2021 149,875 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 taxation advisory services not included above 8. Staff costs Wages and salaries Social security costs Contribution to defined contribution pension schemes |
Total funds 2022 £ 77,854 6,509 20,218 17,147 1,960 - 1,543 4,410 129,641 149,875 2022 £ 2,170 - 2022 £ 76,379 170 1,305 77,854 |
Total funds 2021 £ 99,370 3,547 9,475 22,904 2,078 1,141 6,171 5,189 |
|---|---|---|
| 149,875 | ||
| 2021 £ 2,045 200 |
||
| 2021 £ 96,445 1,252 1,673 |
||
| 99,370 |
Page 18
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
8. Staff costs (continued)
The average number of persons employed by the Company during the year was as follows:
| 2022 | 2021 |
|---|---|
| 5 | 7 |
No employee received remuneration amounting to more than £60,000 in either year.
Total employee benefits of key management personnel were £13,077 (2021: £23,556).
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 December 2022, expenses were reimbursed or paid directly to 4 Trustees (2021 - to 1 Trustee) broken down as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trustee expenses | 472 | 84 |
Page 19
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
10. Tangible fixed assets
| Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 11. Fixed asset investments Cost or valuation At 1 January 2022 Revaluations At 31 December 2022 |
Office equipment £ 7,740 7,740 5,921 918 6,839 901 1,819 |
Website £ 55,900 55,900 1,863 5,590 7,453 48,447 54,037 |
Total £ 63,640 63,640 7,784 6,508 14,292 49,348 55,856 Listed investments £ 90,137 (9,569) 80,568 |
|---|---|---|---|
Page 20
(A company limited by guarantee)
NATIONAL WOMEN'S REGISTER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
12. Debtors
| Due within one year Prepayments and accrued income |
2022 £ 2,359 2,359 |
2021 £ 3,096 |
|---|---|---|
| 3,096 |
13. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Pension contributions due Other creditors Accruals and deferred income |
2022 £ 442 7,433 343 1,233 2,170 11,621 |
2021 £ 1,386 7,186 244 1,869 2,245 |
|---|---|---|
| 12,930 |
Page 21
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
14. Statement of funds
Statement of funds - current year
| Balance at | ||||||||
|---|---|---|---|---|---|---|---|---|
| Balance at | 1 | 31 | ||||||
| January | Transfers | Gains/ | December | |||||
| 2022 | Income | Expenditure | in/out | (Losses) | 2022 | |||
| £ | £ | £ | £ | £ | £ | |||
| Unrestricted | ||||||||
| funds | ||||||||
| Designated | ||||||||
| funds | ||||||||
| Conference | ||||||||
| funds | - | 30,423 | (27,818) | (2,605) | - | - | ||
| General funds | ||||||||
| General Funds | 161,176 | 158,184 | (151,641) | 2,605 | (9,569) | 160,755 | ||
| Total | ||||||||
| Unrestricted | ||||||||
| funds | 161,176 | 188,607 | (179,459) | - | (9,569) | 160,755 | ||
| Statement of funds - prior year | ||||||||
| Balance at | ||||||||
| Balance at | 31 | |||||||
| 1 January | Transfers | Gains/ | December | |||||
| 2021 | Income | Expenditure | in/out | (Losses) | 2021 | |||
| £ | £ | £ | £ | £ | £ | |||
| Unrestricted | ||||||||
| funds | ||||||||
| Designated | ||||||||
| funds | ||||||||
| Conference | ||||||||
| funds | 6,766 | 23,443 | (43,646) | 13,437 | - | - | ||
| General funds | ||||||||
| General Funds | 210,539 | 148,973 | (196,376) | (13,437) | 11,477 | 161,176 | ||
| Total | ||||||||
| Unrestricted | ||||||||
| funds | 217,305 | 172,416 | (240,022) | - | 11,477 | 161,176 | ||
Page 22
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
14. Statement of funds (continued)
Prior to 2022, a designated fund was held within unrestricted funds to be used solely on future Conference activities and represents net surpluses made from previous Conferences to be used as a when required. The Conference in 2021 made a net loss of £20,203 and therefore additional funds were transferred from the general fund to cover the negative balance arising on the designated fund at the end of the year. It is the Charity's intention to recover this deficit from future Conferences. The 2022 Conference generated a surplus of £2,605.
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 49,348 Fixed asset investments 80,568 Current assets 42,460 Creditors due within one year (11,621) Total 160,755 |
Total funds 2022 £ 49,348 80,568 42,460 (11,621) 160,755 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 55,856 90,136 28,114 (12,930) 161,176 |
Total funds 2021 £ 55,856 90,136 28,114 (12,930) 161,176 |
|---|---|---|
Page 23
NATIONAL WOMEN'S REGISTER
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 £1,305 (2021 - £1,673). £343 was due to be paid to the fund at the balance sheet date (2021: £244).
17. Operating lease commitments
At 31 December 2022 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Not later than | 1 | year | - | 146 |
The following lease payments have been recognised as an expense in the Statement of financial activities:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 146 | 585 |
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 2022.
Page 24