for the Period Ended 31 October 2020
Directors report | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 October 2020
Principal activities of the company
Additional information
Achievements and performanceIn 2020, our focus was to establish Make My Money Matter by:- launching our campaign;- building new partnerships and securing meaningful commitments from government and industry;- beginning to change the conversation about the role money can play in building a better world.Since launching publicly in June 2020, we are proud that:- Over 35 businesses and NGOs – representing tens of thousands of employees and hundreds of millions in pension contributions – have signed up to align their pensions with their values;- On an individual level, almost a million people have viewed our messaging and content, andthousands more have taken direct action with their pension provider or employer;- We worked with partners on the Pensions Bill, which, for the first time, outlined the importance of climate change to pension investments, with a requirement for improved reporting;- Most excitingly, two of the UK’s largest pension funds – Aviva and Nest – have committed to make their investment portfolios Net Zero by 2050, with a halving of emissions by 2030. They have been joined by local government schemes from Greater Manchester to South Yorkshire,and BT, the UK’s largest private corporate scheme. Overall, this means approximately 12m pension pots - with over £150bn in assets under management - are now committed to net zero.Financial reviewAt this time, Make My Money Matter is entirely funded through philanthropic grants. In the leadup to 31 October 2020 (the end of our first financial year of operation), we secured grants from three core funders to meet our fundraising targets for the year. Due to the global pandemic, some of our planned activities were necessarily delayed to 2021 and to this end, we have deferred income allocated for these activities to the next financial year.Reserves policy and going concernWe operate a reserves policy of 3 months, ensuring at all times that we have enough funding to cover 3 months of staff and core overhead costs. As unspent grant income is deferred to the next accounting period, this three month ‘reserves’ is reflected in the cash balance. Forecasted cashflow and upcoming costs are reviewed monthly by at least one Company Director and on a quarterly basis by the Board of Directors.Principal risk and uncertaintiesAs part of our governance approach, we maintain a risk register, which is updated on a quarterly basis. As a not-for-profit organisation reliant on philanthropic funding, a key risk for us is funding uncertainty, which we seek to mitigate by developing multi-year funding relationships with ourcore funders.Covid-19 has brought additional risks across our 3 workstreams (Public campaigning, Partnership building and Policy and advocacy), including:- impacts on media cut-through for non-Covid messaging and campaign asks- significant pulls on our partners in industry and government towards Covid response, potentially limiting their capacity for engagement on sustainable pensions.To date, we have navigated these risks through focused and targeted messaging and concerted relationship-building with a small number of key partners. However, we continue to identify and plan for the continuing effects of the pandemic, as well as new risks which may emerge.Future plansWe will continue to pursue our three-pronged strategy into 2021, scaling up our public-facing campaign work and engagement with industry and government partners, particularly in the leadup to COP26 in November 2021.Structure, governance and managementAt present, the appointment of Company Directors of Make My Money Matter is limited to the two co-founders and leadership team. New Directors can only be appointed to the Board with the approval of a majority of existing Company Directors, as set out in detail in our governing documents.Make My Money Matter has no subsidiaries.
Directors
The directors shown below have held office during the whole of the period from
16 October 2019 to 31 October 2020
The directors shown below have held office during the period of
16 March 2020 to 31 October 2020
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
As at
Notes | 13 months to 31 October 2020 | ||
---|---|---|---|
| £ | ||
Fixed assets | |||
Intangible assets: | | ||
Tangible assets: | 3 | | |
Investments: | | ||
Total fixed assets: | | ||
Current assets | |||
Stocks: | | ||
Debtors: | 4 | | |
Cash at bank and in hand: | | ||
Investments: | | ||
Total current assets: | | ||
Creditors: amounts falling due within one year: | 5 | ( | |
Net current assets (liabilities): | ( | ||
Total assets less current liabilities: | | ||
Creditors: amounts falling due after more than one year: | | ||
Provision for liabilities: | | ||
Accruals and deferred income: | | ||
Total net assets (liabilities): | | ||
Members' funds | |||
Profit and loss account: | | ||
Total members' funds: | |
The notes form part of these financial statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 October 2020
Basis of measurement and preparation
for the Period Ended 31 October 2020
13 months to 31 October 2020 | ||
---|---|---|
Average number of employees during the period | |
for the Period Ended 31 October 2020
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
Additions | | | ||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 October 2020 | | | ||||
Depreciation | ||||||
Charge for year | | | ||||
On disposals | ||||||
Other adjustments | ||||||
At 31 October 2020 | | | ||||
Net book value | ||||||
At 31 October 2020 | | |
for the Period Ended 31 October 2020
13 months to 31 October 2020 | ||
---|---|---|
£ | ||
Trade debtors | | |
Total | | |
Debtors due after more than one year: | |
for the Period Ended 31 October 2020
13 months to 31 October 2020 | ||
---|---|---|
£ | ||
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | |