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2023-12-31-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 2023

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 2023

Trustees Gillian Anne Wignall, Chair
Ann Fox
Janet Theresa Fuller, Treasurer
Kathleen Jennifer Johnson (resigned 1 October 2023)
Marion Alexis Watts
Deidre McCarthy (appointed 1 September 2023)
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 2023

The Trustees present their annual report together with the financial statements of the Company for the 1 January 2023 to 31 December 2023. 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 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

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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 online, area and regional events including talks, 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.

2023 saw the return of our normal face to face meetings, although the National Organiser continued to research and commission talks and quizzes during the year, accessed by the conferencing platform Zoom. This makes our connections with other members across the country much easier. 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, who are not affiliated to any group.

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. Six areas organised successful day conferences and we held a National Walk, with 74 groups taking part.

In 2023 the national theme was ‘Drugs, herbs and medicine’ whilst our focus country was Benelux. This gave groups and members many interesting topics to explore and learn about.

After much discussion, the 2023 National Conference was cancelled due to worries about the cost when we were in the middle of a cost of living crisis. However, it was also decided that the 2024 conference would go ahead if at all possible, and plans were put in place to find a suitable location and willing groups to organise it. There was a successful online conference held over a week in September and during that week, we also held the AGM online, with 151 members attending.

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. These are the Postal book group and the Correspondence magazine/e mags. Once again, the Telephone Treasure Trail proved popular with 262 groups participating in a challenging but enjoyable quiz and 202 volunteers manning the telephones.

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.

In September 2022 we welcomed a new National Organiser, Vicky Wooldridge, who quickly settled into the role and during 2023 she instigated new ideas and plans for the advancement of NWR and improving our reach amongst younger women. We also changed Cath Heslop’s role to Volunteers and Recruitment Manager, aiming to 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 selfesteem and enhance skills, particularly digital skills.

Raising awareness of NWR 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 for another year, and we appointed a new Patron, Jo Moseley, who will provide a complementary input and a different network of contacts to raise awareness of NWR.

Page 3

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance (continued)

b. Impact

At the end of December 2023, we had 310 groups (327 in 2022) and 4963 members (5045 in 2022), including 115 independent members (96 in 2022). Independent members not attached to any group, but they can participate in Zoom sessions, social media discussions and all events.

The retention rate for members for 2023 was 89.75% (86% in 2022) with 435 new members and 517 leavers. 1 new group was started in 2023 and 17 groups closed.

Although personal contact is an essential part of our ethos, we see online content as a valuable part of our member benefits. There were 23 online talks during 2023. Where possible, these are recorded and made available to members via the video sharing platform, YouTube. In 2023, there were 2035 YouTube viewings. Group meetings in 2023 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. There were 4 area and regional events held in 2023, which were quite well attended, but some members were still uncomfortable about attending larger gatherings. An online conference with the theme ‘Alternatives’ was held in September. The AGM was also held online, and attracted 151 delegates. A second NWR Walk and Talk, was held in July, with 74 groups taking part. Additionally, we held a Christmas prize draw, which attracted 272 purchases and raised additional funds for NWR.

The scanning and digitisation of our scrapbooks was completed in December 2023, using a team of student volunteers at the national office. The next steps are to display them on a dedicated website page and to deliver the originals to the Women’s Library Archives. There were two printed copies of our magazine distributed in 2023. Amanda Vlietstra took over as magazine editor. 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 70%, higher than 2022 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, which are 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 had to be increased to £32 per annum in 2023, to help cover higher costs.. The adoption of direct debits continues to be encouraged and 64% of members had signed up by the end of 2023 (63% in 2022). 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 2023.

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 2023 of £87,120 (2022: £80,480)

Page 4

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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 £174,642 at 31 December 2023. 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 £131,464 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, enabled us to appoint two external trustees, if we so wish, amended the quorate at General Meetings to 30 members and to allow the AGM to be held online..

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 2023. After serving as a trustee for five years, Jennifer Johnson resigned in September 2023. Deirdre McCarthy 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.

Page 5

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management (continued)

The AGM was successfully held online in September 2023.

d. Staffing

All posts are part time, with staff working from home and from the office in Buntingford.

Due to ongoing financial restraints, staff and trustees undertook no formal training during 2023. On going staff and Trustee development are important, but in 2023, 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 various are conferences.

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

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, but also a failure to recruit new members and 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 2023, 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 2023

Plans for future periods

Our National Organiser continues to explore new ways of increasing our membership by finding markets that appeal to different age groups. Social media is of great benefit in this regard and campaigns on Google, FaceBook and Instagram have all been launched. Work is on-going with Gransnet.

Whilst 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. Weekly and monthly newsletters continue to be sent out to all members.

We continue to encourage the take up of direct debits for membership fees. Training and support for members using Zoom continues. A new post of Regional Membership Co-ordinator has been created to support the establishment of new groups, independent members and volunteers.

In order to achieve the objectives and strategies of our plan, due regard is paid to risk analysis, to having current policies and procedures, and to staff and Trustee personal development objectives. NWR works with several outsourced suppliers for the magazine production and distribution, health and safety advice and digital and technology support. We will continue to monitor the implementation of the new Membership Engagement Plan. Monthly financial monitoring continued in 2023, after the setting of another cautious budget. We will continue to 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 IA company Ilmlled by guarante81 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENOEO 31 DECEMBER 2023 Statement of Trustefr$' responslbllllle5 The Trustees Iwho are also the directors of the Company foi the purposes of company lawl are reswnsitAe for preparing Ilie Triisiees, repori and the financial slalemenls in accordance wlh applicable law and Uniled Kingdom Ac.counling Standards (United Kin9dom Gen8rally Accepted Accounting Practice). Company law requiros Ihe Trusl8trs lo prepare financial statements lor aach financtal . Under company law. Ihe Truslees miisi noi approve Ihtr linancial slalemenis unless thay are salisli8d that they gNe a lrne and lair view ol the slate of affairs of the Company and ol ils Incoming resoufces and application of resources. Including Ils Income and exp(>n¢JitiJre, lor that period In preparing these financial slal8menls. Ihe Trusl8es are required to.. seleci suitatble accounting pollcles and then apply them consistently., obsetve the melhuds and principles of the Charities SORP IFRS 1021.. make ILidgmenls and accounting pslimal8S that aro reasonable and prudent.. Slale whether applieable UK ALcounling Standards IFRS 1021 have been fc41ow2d, subj'ec¢ lo any material departures disclosed an(1 explained In the financial slalemènts". prepare the financial slalemenis on Ihe going concem ba￿$ unlass il is Inappropn8ie Io prosume Ihai the Com[)any ￿11 cont￿nUe in bU￿n￿$s. The Trustees arp responsible lor keepiiig adequate a¢￿untIng records that arn suffitsenl lo and explain the Compaiiy's Iransaclions and disclose wilh reasonable accuracy al any time the finanual posilion ol the Company arid enable them to ensure Ihal Ihe financial slalemanls e£Jmpty wth Ihe Compani8s Aci 2(Q6. They are also resr>onsible lor salegijarding Ihe assels ol the Company and hence for lakin9 Te8sonatAe Steps Iof the prevention and detection ol fraud and other irregulanlies. Approvecl b/ order ol the member5 01 the board ol Truslees and signed on Iheir behall by.. Glllian Anne Chairperson Jan•lJh• Treasurer ••a Full•r Dale. 2S 20 I

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023.

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: 30 September 2024 Christopher Yeates FCA DChA

Larking Gowen LLP Chartered Accountants Norwich

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 2023

Note
Income from:
Donations
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income before net gains/(losses) on
investments
Net gains/(losses) on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
343
166,925
2,312
169,580
162,459
162,459
7,121
6,766
13,887
160,755
13,887
174,642		 Total
funds
2023
£
343
166,925
2,312
169,580
162,459
162,459
7,121
6,766
13,887
160,755
13,887
174,642		 Total
funds
2022
£
24
186,319
2,264
188,607
179,459
179,459
9,148
(9,569)
(421)
161,176
(421)
160,755

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 2023

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		 7,544
47,994
55,538
(11,408)		 2023
£
43,178
87,334
130,512
44,130
174,642
174,642
174,642
174,642		 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

Page 11

NATIONAL WOMEN'S REGISTER IA company Ilmlted by guarantoe) REGISTERED NUMBER: 02053063 BALANCE SHEET ICONTINUEOI AS AT 31 OECEMBER 2023 The Company was enlilled lo exempiion from audit under secb'on 477 01 tho C¢Jmp•iies Act 2006. The members have not required thè company to obtain an audit lor the yaar in qu8slion in act￿￿#ne• ￿th seet10n 476 01 Companies Act 21)06. The Truslees acknO￿edge Iheir responsibilities for comptying wlh the requirements of th• Act wlh respoci to accounling rocords and P￿paratIon ol financial slalemenls. The financial s18tements havè b88n prepared in accord8n¢o wlh Ihé provisions ap￿ICable to enlilies subjact lo the sm811 coinpanigs iegirne. The financial slalamanls were approvad <1nd authorised for Iswe by tho TN$to8s and signed on Ih8ir behalf by., Gllllan Anno Chairpersr)n Data.. L6 9. 24414J- The notes on pages 1310 24 form pari ol these linancial statements. gnall Janè Treasurer r•ia Full•r 23.q IOL

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 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 2023

2. Accounting policies (continued)

2.3 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.

2.4 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

2.5 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.

2.6 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.

2.7 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 2023

2. Accounting policies (continued)

2.8 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.

2.9 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.

2.10 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.

2.11 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 2023

3. Income from donations

Unrestricted
funds
2023
£
Donations
343
Total 2022
24		 Total
funds
2023
£
343
24		 Total
funds
2022
£
24

4. Income from charitable activities

Unrestricted
funds
2023
£
Subscriptions
132,576
Gift Aid
22,021
National conference income
6,328
Regional and educational events income
1,243
Other income
4,757
Total 2023
166,925
Total 2022
186,319
Investment income
Unrestricted
funds
2023
£
Bank interest and dividends
2,312
Total 2022
2,264		 Total
funds
2023
£
132,576
22,021
6,328
1,243
4,757
166,925
186,319
Total
funds
2023
£
2,312
2,264		 Total
funds
2022
£
127,570
18,785
30,423
992
8,549
186,319
Total
funds
2022
£
2,264

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 2023

6. Analysis of expenditure by activities

Organisation of groups
Total 2022
Analysis of direct costs
Membership engagement
Conference
Magazine
Trustee and meeting expenses
Training and workshops
Publicity
Regional and educational events
Total 2023
Total 2022		 Activities
undertaken
directly
2023
£
27,256
49,818		 Support
costs
2023
£
135,203
129,641
Activities
2023
£
2,724
2,835
17,015
1,576
95
3,011
-
27,256
49,818		 Total
funds
2023
£
162,459
179,459
Total
funds
2023
£
2,724
2,835
17,015
1,576
95
3,011
-
27,256
49,818		 Total
funds
2022
£
179,459
Total
funds
2022
£
3,099
27,818
17,471
1,327
(19)
82
40
49,818

Page 17

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Activities
2023
£
Staff costs
94,763
Depreciation and loss on disposal
6,350
Website and social media
10,875
Office costs
15,939
Insurance
2,117
Staff expenses
1,837
Accountancy and professional fees
3,322
Total 2023
135,203
Total 2022
129,641
7.
Independent examiner's remuneration
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts
8.
Staff costs		 Total
funds
2023
£
94,763
6,350
10,875
15,939
2,117
1,837
3,322
135,203
129,641
2023
£
2,400		 Total
funds
2022
£
77,854
6,509
20,218
17,147
1,960
1,543
4,410
129,641
2022
£
2,170
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
92,800
115
1,848
94,763		 2022
£
76,379
170
1,305
77,854

Page 18

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. Staff costs (continued)

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

2023 2022
5 5

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

Total employee benefits of key management personnel were £31,571 (2022: £13,077).

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 December 2023, expenses were reimbursed or paid directly to 3 Trustees (2022 - to 4 Trustees) broken down as follows:

2023 2022
£ £
Trustee expenses 232 472

Page 19

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Tangible fixed assets

Cost or valuation
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
11.
Fixed asset investments
Cost or valuation
At 1 January 2023
Revaluations
At 31 December 2023		 Office
equipment
£
7,740
180
7,920
6,839
760
7,599
321
901		 Website
£
55,900
-
55,900
7,453
5,590
13,043
42,857
48,447		 Total
£
63,640
180
63,820
14,292
6,350
20,642
43,178
49,348
Listed
investments
£
80,568
6,766
87,334

Page 20

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
324
2,279
4,941
7,544		 2022
£
-
-
2,359
2,359

13. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Pension contributions due
Other creditors
Accruals and deferred income
Resources deferred during the year		 2023
£
546
4,688
348
2,409
3,417
11,408
2023
£
790		 2022
£
442
7,433
343
1,233
2,170
11,621
2022
£
-

Income received for events in future periods is deferred at the year end.

Page 21

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. Statement of funds

Statement of funds - current year

Balance at 1
January
2023
£
Unrestricted funds
General Funds
160,755
Statement of funds - prior year
Balance at
1 January
2022
£
Income
£
Unrestricted
funds
Designated
funds
Conference
funds
-
30,423
General funds
General Funds
161,176
158,184
Total
Unrestricted
funds
161,176
188,607		 Balance at 1
January
2023
£
Unrestricted funds
General Funds
160,755
Statement of funds - prior year
Balance at
1 January
2022
£
Income
£
Unrestricted
funds
Designated
funds
Conference
funds
-
30,423
General funds
General Funds
161,176
158,184
Total
Unrestricted
funds
161,176
188,607		 Income
£
Expenditure
£
169,580
(162,459)
Expenditure
£
Transfers
in/out
£
(27,818)
(2,605)
(151,641)
2,605
(179,459)
-		 Gains/
(Losses)
£
6,766
Gains/
(Losses)
£
-
(9,569)
(9,569)		 Balance at
31
December
2023
£
174,642
Balance at
31
December
2022
£
-
Unrestricted
funds
Designated
funds
Conference
funds
General funds
General Funds
Total
Unrestricted
funds		 Balance at
1 January
2022
£
-
161,176
161,176
160,755
160,755

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 and the 2023 Conference generated a surplus of £3,062. This is no longer shown as a designated fund as all profits will be recognised within the general fund until the previous deficit is cleared.

Page 22

NATIONAL WOMEN'S REGISTER

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
43,178
Fixed asset investments
87,334
Current assets
55,538
Creditors due within one year
(11,408)
Total
174,642		 Total
funds
2023
£
43,178
87,334
55,538
(11,408)
174,642

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
49,348
80,568
42,460
(11,621)
160,755		 Total
funds
2022
£
49,348
80,568
42,460
(11,621)
160,755

Page 23

(A company limited by guarantee)

NATIONAL WOMEN'S REGISTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 £1,848 (2022 - £1,305). £348 was due to be paid to the fund at the balance sheet date (2022: £343).

17. Operating lease commitments

At 31 December 2023 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

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

2023 2022
£ £
Operating lease rentals - 146

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 2023.

Page 24