REGISTERED COMPANY NUMBER= 0289S760 (England and Walès) REGISTERED CHARrrY NUMBER: 1040487 Trustees. Report and Financial Statements forthe Year Ended 30 June 2022 for THE CHARMES ADVISORY TRUST THE CHARITIES ADVISORY TRUST Contents of the Financial Statements for the Year Ended 30 June 2022 Page Reference and Administrative Details Trust••$' Rèport Report of the Independent Auditors Statement of Financial Activities 10 Balance Sheet 11 Cash Flow Statsm•nt 12 Notes to the Cash Flow Statement 13 Notes to the Financial Statement5 15 to 31 Detailed Statement of Financial ActivSties 32 to 33 THE CHARITIES ADVISORY TRUST Reference and Administrative Detai for the Year Ended 30 June 2022 TRUSTEES B Bhasin Ir85ign8d 4.11.211 D Russell Ms L M Mactavish R Dunn COMPANY SEcR￿ARy Dame H S B Blume REGISTERED OFFICE Radius Works Back Lane Hampstead London NW3 1HL REGISTERED COMPANY NUMBER 02895760 (England and Wales) REGISTERED CHARrrY NUMBER 1040487 INDEPENDENT AUDrroRS Knox Cropper LLP Chartered Acc(xJntants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD Page 1 THE CHARITIES ADVISORY TRUST (REGISTERED NUMBER: 02895780} Trustees. Report for the Year Ended 30 June 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report wrth the financial statements of the charty for the year 8rhded 30 June 2022. The trustees have adopt8d the provisions of A¢¢ounting and Reporting by Charthes.. Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The Charity's main objectives were to continue to plan the transition from income dependency on Card Aid to other activitie5'. 11 To maintain the Good Gifts Catabgue-, 21 To respond to the organic growth of Knit for Pe￿￿., 31 To recognise the need to draw on reserves to SUPfM)rt the Charivs objectives 41 To devise income generatson schemes lo fu￿1 Knf( for Peace on a sustainable basis.. 51 To promote the health benefits of knittiThJ', 61 To campaign on ethical behaviour by charitses. Publlc ban•flt The Tnjstees have a policy of transparency on how and whom CAT benefrts. Card Aid and the Good Grfts Catalogue clearly state where and how the money is spent. The area of benefit is wide. consistent with the charity's objects. The promotion of religion is not supported. and in general the priority is to provide help to the poor or disadvantsged, except whe￿, for example with tree planting, the￿ is general benefit lo the community. Our 5UPPOrt for art projects Is largety to provi(le access to the arts fr>r those urKler 18. Support for medical research we take as potentially benefftting all sections of the community. Grantmaking Most of our grant making is through funds raised through the Go(Kl Grfts Catalogue. Applications for funding for individuals are rarely. if ever, successful. We work with charities vnth whom we have devek)ped a programme to deliver the outcomes we seek. Page 2 THE CHARITIES ADVISORY TRUST (REGISTERED NUMBER: 02895780} Trustees. Report for the Year Ended 30 June 2022 ACHIEVEMENT AND PERFORMANCE Activitie5, achievements and performance The ewnomic climate continues to make everyone cautious aboul spending and this impacts on giving to all charities. The difficult economic condiiK>ns and the drast￿ fall in interesl rales Iwhich is costing us over £100,000 a yearl made bek-tightening essenb"al. Card Aid For 40 years the Trusl has prodU￿d and marketed charity Christmas cards. Our Annual Scrooge Awards led to increased revenue in lact generating millions of pounds frjr charity. The decline in card sending seems to us inexor3ble. The high cost of postage. the unreliabiltty of the mail. the ease of sending e-cards or. for the young. text messages.. all continue to erode the markel. We iherelore prLxluced no new cards, and marketed existing stock. Sales dropped from £8,462 to £3,827. Good Gifts Catalogue For Good Gifts, we noticed people conlinueil to buy less expensive grfts and spent less overdll. Knit for Peace Knit for Peace is a major part of the Trusfs work. 11 has grown in response to the Ilemands of both knitters and those needing wami cbthes. and we are proud of our ability to respond to these real needs. A major part of the work is distributing the donated knitting. We have over 40.0￿ vohjnteers in the UK donaling their knitting to those in need. Despite the drfficulties, we were able to carry cmjt a feasibility study of setb'ng up Knit a Cornmunity organisations in Jordan and the Wesl Bank (Palestinian Authority) on equal fwting with Knit a Communty in Israel. We held a very suc￿sSful holiday at New Lanark in Oclober 2021. Unfortunatety. Ihe pandemic rneant our very popular holiday at Ihe Green Hotel and other plans had to be can￿lled. We were honoured to be thosen as the charrty of the year by Magazine, which brought Knit for P88ce to wider audience. We would like to express our thanks to our wonderful volunteers vtho are worth their weight in gold. Because of the pandemic and the need to protect our staff and volunteers. we had to limit the number of people allowed into the office. Tribuie should be paid to ihe staff. who had io take on a much heav￿1 work &)ad. Fundraising Polity During the year, Charitie5 Advisw Trust dKI rK>t make use of any corhsumants or extemal professionals to undertake its fundraising activities. Additionally. no data was shared with. or sold to, any extemal agencies. We did not undertake direct mail shols, send any unsolicited news￿tterS or approach any vulnerable individuals to support our work. A compkints rK>licy is in placè, but WÈ ree£ived no complaints during the year about any of our fundraising activity. FINANCIAL REVIEW Investment policy and pÈrformancè The Charity's investments are designed to meet the Trustees. wishes for environmental. social and ethical investment. The Trustees continue to monitor the perfomance of these investments closely. The fall in interest rates continues to impact adversely on our income Inote that the valuation ol investments given on the balance sheet are LJnre81ised assets. Their value may decline). Page 3 THE CHARITIES ADVISORY TRUST (REGISTERED NUMBER: 02895780} Trustees. Report for the Year Ended 30 June 2022 FINANCIAL REVIEW Reser¥85 policy The Trustees are satisfied that the Charity maintains a strong financial position with a healthy level of general reserves. They adopt a prudent attitude towards reserves which in the arCumstan￿S has proved wise. Our reserves, built up over the years. and decjining Sin￿ atK>Ut 2008, give a more th8erful view of our finanoos. Our income has been declining (because ol the decline of Card Aidl. Our expenditure on Knit for Peace has grown, and we are grateful for the financial supp)rt from the National Lottery Fund. Knit for Peace is incredibly worthwhile. both irh providing warTll clothes and blankets to those in need. which shows them they are not forgotten and valved. More than that. Knit for Peace is enabling people of all backgrounds to continue to feel useful and overcome the isoL8b"on and powedessness of old age. We are dètemined to ¢ontinue th8 proj8rt. but do not want to do so to th8 8xdusion of our other activities. Designated funds The Trustees have considered the designated funds in the accounts and feel that the various provisions are prudent. Project development.. We expect to continue the expansion on our work on Peace and reconciliation aThJ on Knit for Peace and shall continue to invest in improved IT systems. Endowment Fund.. We a￿ planning for an expected decline in income, we expect to draw upon our ￿SerVeS to fund our work and worthwhile grants. We are planning for an expected decline in irthme. we expect to draw upon our reserves to fund our work and worthwhile grants. The trustees decided that the charity Shou￿ aim to hold a minimum of 12 months running costs1£385.0001 in free resetves, lo mitigate against a significant drop in income or an emergency. This is to allow the charity to cover running costs and conts.nue to support our beneficiaries. This b.me can be used to plan our recovery and reorganisation rf necessary. Our tr￿ reserves of £1.134.553 at 30m June 2022 exclude5 restricted funds. designated funds. revalualion reserves, fixed assets and working capiial. bLrt includes the f￿Xible endowment. The free reserves policy is due for review in August 2023. The pandemic has been a drfficult time. The trustee5 took the de￿510n that priority should be gtV8n to those w8 help. rather than conserving our resources. Whilst our income dropped t)oth for Knrt for Peace and the Good Gifts Catalogue, our existing supporters remained loyal. We intrOdU￿d a range of new grfts. and these were well recewed. This was a rnajor part of work invofving all the staff. Wè mvéd from a full printéd Good Gtfts Catak)gue, both for rèason of cost. partieularfy postagè, and for environmental reasons. Also for environmental reasons. we have enc#)uraged knitters lo donate knitbng to local charities- reducing transport costs. An application to the National Lottery for support for Knit for Peace was succe55ful and made us fe81 more confident going forward. In essence the pandemic showed us how valued the work we do. They could tum to us for emergency funding from Good Gifts. lo Knit for Pea¢e for yam and materials to keep the knrtters knitting. and for ￿￿[Hunity Page 4 groups, hospices, and care homes, wonderful wam) dothes arKJ bL•nketsl FUTURE PLANS Improve IT. This is an ongoing pro￿S., Expand Knit for Peace, in the UK and Middle East., - Spread the awarene55 of the health benefrt5 of knitbng Page 4 THE CHARITIES ADVISORY TRUST (REGISTERED NUMBER: 02895780} Trustees. Report for the Year Ended 30 June 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charity is registered a5 8 charitabl8 company limrted by guarant88 and is govem8d by its m8mor8ndutll and articles of association. The Charity has no share capital or debentures. hence there are no Trustees. interests requiring disclosure. In the event of the Charity being wound up each member is required to contribute an amount not exceeding £1. Trustees The Trustees, who served in the year. David Russell. Leila Mactavish. and Rowena Dunn. Trustees are appointed by the members of the Charity, who are currenlly the same as the Trustees. The Charity sees no need lo have 8 policy on the recruitment. induction and training of Trustees. Organisational structure and decision making The founding Director, Dame Hilary Blumè, is responsible lo the Trustees for the day-t041ay management of thè Charity and other staff report to her. The Charity's policy towards staff is to ensure that all staff are given the opportunity to realise their full potential. The Trust prides itsew on being a leaming environment. It should be noted that the Trust has a strict p)licy on paying graduate intems, which it believes provides opportunities for those not subsidised by their families nor the State. Key management personnel The key management personnel ol the Charity are ihose persons having authority and responsibility for planning, directing and controlling its activitie5, direcuy or indirectly, including any Trustee of the Charity. In addition to the Trustees. key management personnel includes the Director. Dame Hilary Blume, whose remuneration is set by the Board of Trustees and Deputy Director Avril Jn-marie. Related organisations Details of the Charity's subsidiary company in India. Greenway Hotels Privale Limiled. are given in Note 20 19 to the accounts. The company was established in pursuil of the Charity's object of preserving buildings of architectural merrt and its primary activity is currently the running of the Chittaranjan Palace in Mysore as a hotel Ithe Green Hotel) in order to preserve it. Prolts from the Green Hotel are given to Charitsb￿ and environmental projects in India. The pandemic has forced the suspension of the Hotel's activities. Rlsk management The Trustees have assessed the major risks to which the Chariiy is exposed. in parbcular those related to the operations and finances of the Charity and are satisfied that systems are in ptsce to rnitigate the exposure to the major risks. Our resilience during the pandemic pays testament lo the organisation's judicious planning. TRUSTEES. RESPONSIBILITY STATEMENT The trustees Iwho are also the directors of The Charities Advisory Trust for the purposes of company lawl are responsible for preparing the Trustees, Report and Ihe financial statements in accordan￿ with applicable law and Unitèd Kingdom Accounting Stsndards Iunited lthngdom Genèrally Accèptèd Accounting Practicè). Company law requires the trusiees to prepare financial statements for each financial year which give a true and fair view ol the state ol affairs of the charitable company and of the incoming resources and application of resourcès, including the income and expendr(ure, of the charitable company for that P8riod. In preparing thosé financial statements. the trustees are required to select suitable accounting pdiues and then apply them consistenty., observe the rnethods and principles in the Chartty SORP.. make judgements and esbmates that are reasonable and prudenl: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the d)aritable company will continue in business. Page 5 THE CHARITIES ADVISORY TRUST (REGISTERED NUMBER: 02895760) Trustees. Report for the Year Ended 30 June 2022 TRUSTEES, RESPONSIBILITY STATEMENT - contlnued The trustees are responsibl@ for keeping proper accounts.ng records whith disclos8 Wrth re8sonab18 accuracy at any tirre the financial position of the Charitab￿ company and to enable them to ensure that the financial statements comply wilh the Companies Acl 2006. They are aLso ￿spOnsIb￿ for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trusiees are aware.. there is no relevant 8LJdit inf¢)rrnab"on of which the charitable company's auditors are unaware.. and the trusiees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infom)ation and to establish that the auijitors are aware ol ihat infomatK)n. AUDITORS The auditors, Knox Cropper LLP. will be proFW)se(I for re-appx)inlment at the forthcoming Annual General Meeting. This report has been prepared in accordance with the s￿181 provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on ..........4th May. 2023 . and signed on its behaff by.. D Russell- Trustee Page 6 Rèport of thè Indèpèndant Auditors to the M•M￿r$ of The Charitiès Advisory Trust (Registered number= 028957601 Opinion We have audited the financial statements of The Charities Advisory Trust Ithe'ch8ritsble cornp8nYI for the year ended 30 June 2022 which comprise the Statement of Finanaal Activities. the Balan￿ Sheet, the Cash Flow Statement and notes to the financial statements, induding a summary of significant accounting policies. The financial reporting frarn8work that has been applied in their preparab.on is applicable law and United Kingdom Accounting Standards (United Kingdom Generalty Ane other than the charitable wmpany and the thartsble Ix>mp8n￿s members as a tKKly, for our audit work. for this report, or for the opinions we have formed. Richard Billinghurst (Senior Statulory Auditor) lor and on behalf of Knox Cropper LLP Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD Date.. 0910512023 Page 9 THE CHARITIES ADVISORY TRUST Statement of Financial Activities Ilncorporating an Income and Expenditure Account) for the Year Ended 30 June 2022 2022 Total funds 2021 Total funds Unr8Stricted fvnds R8Stricted fvnds Notes INCOME AND ENDOWMENTS FROM Donations and lega￿￿5 637,102 637,102 539,489 Charitable activities Turnover from purchased gocKJs Turnover from donated goods Other incorne 1.178 15.850 35,677 13.943 15,121 15,850 35.677 5,269 39.159 12,759 Invèstmènt income 10.737 10.737 12,162 Total 63,442 651,04S 714,487 608.838 EXPENDITURE ON Charitable activitiès Go(xl Gifts UK Disaster Relief Advisory Setvice Direct awards programme Card Aid PeaTr Oil Peace projects Other 505,454 505,454 1,014 1,539 18,586 258 472.987 1,014 1,539 3.066 1,691 3,001 2,228 1,318 223,360 20,486 15,520 258 2,￿6 19,129 37.750 177,112 180,098 19,129 37,750 Total 698.344 763.828 725,071 Nèt gainslllossèsl on invéstmènts 173.131 173.1311 212,895 NET INCOMEIIEXPENDITUREI Transfers between funds 1175.173) 31.195 147.2991 31.195 1222.4721 96,662 17 Net movement In funds 1206,368) 1222.4721 96,662 RECONCILIATION OF FUNDS Total funds brought forward 2.327.SYJ 691.049 3.018.608 2,921,946 TOTAL FUNDS CARRIED FORWARD 2,121,191 674.945 2.796,136 3,018,608 The notes fomi part of these financial slatements Page 10 THE CHARITIES ADVISORY TRUST (REGISTERED NUMBER: 02895780} Balance Sheet 30 June 2022 2022 2021 Notes FIXED ASSETS Tangible assets Investmenis 65,405 1,827,002 7.205 1.600,133 12 1,892,407 1.607.338 CURRENT ASSETS Debtors Cash at bank and in hand 13 294,841 712 123 364,674 1.276.375 1,006.964 1,641,049 CREDITORS Amounts falling due within one year 14 1103.2351 1229,7791 NET CURRENT ASSETS 903,729 1,411,270 TOTAL ASSETS LESS CURRENT LIABILITIES 2,796,136 3,018,608 NET ASSETS 2796136 3.018.608 FUNDS Unrestricted funds Restricted funds 17 2.121,191 674,945 2,327,559 691,049 TOTAL FUNDS 2.796,136 3.018.608 These financial statements have been prepared in accordan￿ vriih the provisions applicable to charitable compan￿5 subjéct to thè small cotnpaniès regirnè. The financial statements were approveil by the Board of Trustees and authorised for issue on 41h May.2023 . and were signed on its behaK by= D Russell- Trustee The notes fomi part of these financial slatements Page 11 THE CHARITIES ADVISORY TRUST Cash Flow Statement for the Year Ended 30 June 2022 2022 2021 Notes Cash flows from operating activities Cash generated trom operations 103,3891 111,4701 Net cash used in operab'ng activtbes 103,3891 111.4701 Cash flows from investing activities Purchase of tangible fixed assets Purchase ol fixed asset investments Sale of tangible fixed assets Sale of fixed asset investments Interest re￿iVed {7S,8SOI 1400.0001 4.250 1136,8571 619.509 12,163 10,737 Net cash (used inyprovided by investing activitEs 460.8631 494.815 Change in cash and cash •quival•nts In th• r•porting p•riod ash and cash equivalents at the beginning of the reporting period 1564,2521 606,374 1.276,375 670,090 Cash and cash equivalents at the end of the reporting period 712.123 1,276,375 The notes fomi part of these financial slatements Page 12 THE CHARITIES ADVISORY TRUST Notes to the Cash Flow Statement for the Year Ended 30 June 2022 RECONCILIATION OF NET IEXPENDITUREIIINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 2021 N•t lexpenditurellincome for thè rèporting ￿riod las th• Staternent of Financial A¢ti¥itiesl Adjustments for.. Depreciation charges Lossesllgainl on investments Profit on disposal of fixed assets Interest received Decrease in stocks Dècreasellincreasel in debtors (Decreaseyincrease in creditors {222.4721 96,662 17,650 173,131 14,2501 {10,7371 3,522 1212,8951 112.1631 1,318 107,796 127.230 69,833 126,5441 Nat cash us•d In op•ratlons 103.3891 111,470 ANALYSIS OF CHANGES IN NET FUNDS At 1.7.21 Cash flow At 30.6.22 Net cash Cash at bank and in hand 1.276.375 564,252 712.123 1,276,375 564,252 712,123 Total 1,276,375 564,252 712,123 The notes fomi part of these financial slatements Page 13 THE CHARITIES ADVISORY TRUST Notes to the Financial Statements for the Year Ended 30 June 2022 ACCOUNTING POLICIES Basis of preparing the financial 5taternents The financial statements of the charitable cornpany. which is a public benefrt entty under FRS 102. have been prepared in accordan￿ with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities". Statement ol Recommended Practice applicable to charits.es preparing their accounts in accordanGe with the Financial Retthing Standard appliG4ble in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. Financial Reporting Standard 102 The Financial Reporbng Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. 85 modrfied by the revaluation of certain assets. The Financial Statements a￿ presented in pound sterling. The Trustees consider that there are no rnaterial un￿￿tainties atx)ut the Trust'5 abilty to (x)ntinue 8s a going concern. Consolidation As explained in Note 19 the Charity has a subsidiary in India. Greenway Hotels Private Lirnited. Under Indian law assets of the subsidiary are not perniilted lo be repatriated to the UK and this substantially hinders the exercise of control by the Charity over the subsidiary's assets. The Charity therefore does not prepare groLJP accounts. The subsidiary is regarded by the Chariws Trustees as an independent project and it is administered by a separate bo8rd of directors, all Indian nationals eX￿pt for the Gharity's Director. Income All incorning resources are shown net of VAT where applicab￿. Donated goods for sale are recognised in the Statement of Financial Activities as they are sold. Oonaled services are only recognised to the extent that they are material and reasonabty quanb"fiable and measurable", in particular non-professional services from volunt￿r$ are not rewgnised. Ml trading activtbes are undertaken In furtheranoe of the Charity's objects. including assisting other charities with their fundraising through raising their profile through the Card Aid and Good Gifts schemes. Training income is recognised in the period in which ihe training event t(KJk place", where income lor a training event is received prior to the event taking place, the income is deferred to the correct fin8noal penod. Income tsx rewverable in relation to investment income or Gift Aid donations is recognised al the time ihe re￿vant income is r￿1Vab￿. Expenditur• All expenditure is accA)unted for gr05s, and when incurred. Direct charitabl8 expenditure includ85 the direct costs of charitable activities and dep￿CiatIon on relaled assets. Where such costs relate to rnore than one funciional cost category, they have been split on an estimated time basis for the staff concèmèd. Support costs comprise thosè costs incurrèd centrally In support of thè Charity's activities, including Governance costs. and have been apFM)rtioned to activities in proportion to the total costs of those activities. Governance costs are those associaled with meeting the constitutional and statutory requirements of the Charity and ils Strateg￿ management. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditu￿ when the conditions atiaching are fU￿111ed. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not a(xxued as expendtiure. Tangible fixed assets and depreciation Individual fixed assets cosb.ng more than £S)O are caprtalised at cost. Page 15 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 ACCOUNTING POLICIES - contlnued Tangible fixed asseis and depwiation Depreciation is provided on all tangible fixed assets at rates calculaled to write off the cost on a straight- line basis over their expected useful economic lives as folkms". Furniture and equipment Moior vehicles 5 to 6 years 5t0 10years Taxation The charity is exempt from corporaiion tax on ils charitable activitses. Fund aeeounting The General fund comprises unrestricted fijnds which are availab￿ for use at the discr8tion of the Trustees in furtheran￿ of the general objects ol the Charity and which have not been designated for other purFrf)ses. Designated fvnds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund. and the basis of transfers to or from them, are set out in Note 17. Restrirted funds are funds which are to be used in 3￿rdanCe with specific restrictions imposed by donors or which have been raised by the Chanty for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund Is set out In the notes to the financial statements. Foreign currencies Assets and Iiabilibes In foreign currencies are translated into slerfing at the rates of exchange mling at the balance Sheet date. Transactions in foreign currencies are translaled into sterfing at the rate of exGhange ruling at the date of transaction. Exchange differences are taken into account in arriving at the net incomellexpendiiurel. Pension costs The Charity has historically operated a defined contribution pension scheme the assets of which are held separately from those of the Charity in indeperKJently administered funds chosen by individual staff. For eligible staff, contributions payable loi the year are charged in the Statement of Finanual Activits"es. Since April 2016, The Charity ha5 enrolled all new staff in Nest's defined contribution Workplace P8n510n Scheme. Financial instrumènts The charity onty has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initialty recognised at transaction value and subsequently valued at their settlement value. Judgémènts and kèy sourt•s of Èstimation uneertainty Judgernents and key sources of estimation uncertainty are detailed in the above accounting policies where applicab￿. Page 16 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 DONATIONS AND LEGACIES 2022 2021 Charity Direct donatM)ns Good Gifts donations- grfts Good Gtfts other income Knit for Peace Other voluntary income 65,094 387.988 68,808 115,212 2,310 406,855 82,547 47.537 240 637,102 539 489 The Good Gifts scheme encourages donations lo a Se￿ctiOn ol speafic charitable purposes described in a catalogue. The donor is also encouraged to make a Gtft declaration and donate this Gift Aid towards the scheme's running costs_ The reSU￿.￿g incotne is the main compon8nt of the Good Grft5 Other income shown above. The donor receives literature assiKiated with the donation for which they are charged postage and packaging. Athough this scheme generates a significant amount of voluntary all costs of administering the scherne are included as part of the cost of Ch8ritsble 8divrties. Details of grants given underthe ￿herne are shown in Note 6. INVESTMENT INCOME 2022 2021 Dividends Bank interest receivable 10,595 142 11,237 925 10,737 12,162 INCOME FROM CHARITABLE ACTMTIES 2022 2021 Turnover from purchased g(XMJs Tumover from donated gwds Other income Total activities Total activities Incoming resources from charitable activities 15.121 1S,8SO 35.677 66.648 57.187 Details of the Gwd Gifts Scheme are gNen in Note 17. Donated cards and grfi tags are sold through the Cha￿S websites. The object of the Card initiative is to maximise the arnount going to ¢harty from the Sa￿ of Christmas rards. Al donated cards are 501d in aid of a particular beneficiary charity or cL2ss of charities and the amount paid to the charities Isee Note 61 is calculated as a percentsge of the sale proceeds. This amounl of Ihe sak proceeds is shown above as restricted incomè. Page 17 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 CHARITABLE ACTIVITIES COSTS Grant funding of activilies (see note Support costs (see note 71 Direct Costs Totals Good Gifts UK Disaster Relief Advisory Service Direct awards programme Card Aid Peace prqè¢ts Other 115,272 689 339,456 50,726 325 493 972 79 54,315 10,731 11,991 505,454 1,014 1,539 18,586 258 180,098 19,129 37,750 15.520 179 125,783 8.398 25,759 763 828 Details of Support costs and Governance o)sts are given in Nole 6. UK Disastei R81i8f IUKDRI is an inrtiative of the Charity airned at raising funds for piactical assistan￿ in the event of 8 UK disaster. It has now been established as a separate charitable company. registered charity number 1136164 and registered company number 07104828. The costs included above relate to an allocation of staff costs, representsng b.me spent by Charty staff on UKDR affairs. Direct costs for Card Aid. Training. Good Gifts. pea￿ Projecls and the Direct awards programme. include granis payable which are detailed in Note 7. GRANTS PAYABLE 2022 2021 Good Gtfts Direct awards prograrnme Card Aid 339.456 15,520 290,566 1.895 383 354,976 292.844 Grxxl Gifts payments relale to donations by individuals and companies passed on to gorx1 causes chosen by thetn from a tratalogue (see Note 18 ft)r m(xe details). Payments are made Iwce yearfy. The amount shown as Dire¢t awards programme represents funds donated by indwiduals paid to charities of their choice Isee Note 17). All grants were made to insthJb"ons. Page 18 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 SUPPORT COSTS Gov8manc8 costs Other Totsls Good Grfts UK Disaster Relief Advisory Servi Direct awards programme Card Aid Peace projects Other 48.162 309 468 923 75 51.571 10,189 11.385 2.564 16 25 49 50.726 325 493 972 79 54,315 10,731 11.991 2.744 542 606 123,082 6,550 129,632 Support costs have been apw)rtioned to activrties proportionately tr) staff costs on those activities. INCOME1{EXPEND￿uRE) Net incomellexpenditurel is slated after Chargin￿{creditIngI-. 2022 2021 Auditors, remuneration Depreci8tion- owned assets Surplus on disposal of fixed assets 6.550 17,650 4,2501 7,651 3,522 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other beneffts for the year ended 30 June 2022 nor for the year ended 30 June 2021. Trustèès, èxpènsès There were no trustees. expenses Pa￿ for the year ended 30 June 2022 nor for the year ended 30 June 2021. Page 19 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 10. STAFF COSTS 2022 2021 Wages and salaries Social security wsts Other pension costs 221,909 28,386 4.997 226,279 18,949 25.099 255,292 270,327 The average nurnber of employees during the year was 612021.. 6}. The average weekly number of employees. (2lculated as lull time equIva￿nts, during the period was.. 2022 No. 2021 No. Card Aid Training Good Gifts Direct Aid Advisory & Ethi¢5 Peace projects Peace Oil UK Disaster Relief Support and governance 0.01 0.01 1.91 0.06 0.03 2.73 0.02 0.03 0.03 0.73 0.81 The salary of the Director amounted to £78.400 for the year12021 £78.4001. In addition she was due pension contributions amounting to £19.60012021 £19,600). Two employees received totsl ernoluments. excluding employer pension contributions, in excess of £60.000. one within the banil £70.0￿- £80.CH)O and one within the band £90.000-£100.000. Pension costs represent contribub.ons payable by the Charity for eligible staff to funds chosen by the indwiduals calculated. for most staff. at of annual salaries. The Chartty has no commitments beyond these regular contributions. All other stsff are enrolled in NESTS defined contribulion scheme. Page 20 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 11. TANGIBLE FIXED ASSETS Fixlures and ffttings Motor vehiC￿S Totals COST At 1 Juty 2021 Additions Disp0581s 119,693 60.000 17,533 15,850 137,226 75,850 At 30 June 2022 179.693 24.524 204.217 DEPRECIATION At 1 July 2021 Charge for year Eliminated on disFM)sal 114.028 13.602 15.993 4.048 8,8591 130,021 17,650 8,8591 At 30 June 2022 127.630 11.182 138.812 NET BOOK VALUE At 30 June 2022 52.063 13.342 65.405 At 30 Junè 2021 5.665 1,540 7,205 12. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 Juty 2021 Additions Net investrnent gainlllossl 1.600,133 400,000 173,1311 At 30 June 2022 1.827.002 NET BOOK VALUE At 30 June 2022 1827 002 At 30 June 2021 1,600,133 There were no investment assets outside the UK. The historical cost of investments as at the year*nd was £1.625,16912021.. £1,225,169). The investments include 8 sharehokling in Standar(l Lite with a year end value of £4,17712021.. £7,081). Other investments cornprise of unit trusts. Page 21 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade debtors Due from Christmas Carij Scheme Lirnited Gtft Aid tsx recoverable VAT Prepayments $0,405 60,009 27 207,575 13,885 22,949 19.091 206.411 23,855 55,308 294,841 364,674 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade C￿ditOrS Social 5ecunty and other tsxes Other creditors Accruals Deferred training income 12.815 3.260 9.488 77,027 1,162 5,255 10,170 144.774 68,418 103,235 229,779 Deferred training income, represeth.ng fees received in Ihe year for courses, for the followng year, comprises the followng.. 2022 2021 Balance at 1 Juty 2021 Add.. Deferred training income arising in year Less". Released in the year 68,418 68,418 68.418 Balance at 30 June 2022 £68,418 Page 23 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 15. LEASING AGREEMENTS 2022 2021 Within 1 Year 53,0(K) 53,000 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2022 Total funds 2021 Total funds unrestn.cted funds Restricted fijnds Fixed assets Investments Current assets Current liabilities 135,367 1,827.002 304.994 146.1721 169,9621 65,405 1,827.002 1.006.964 103.2351 7,205 1,600,133 1,641,049 229.7791 701.970 42.937 2.121.191 674.945 2,796,136 3,018,608 Page 23 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS Net r￿)vement in funds Transfers between funds At 30.6.22 At 1.7.21 Unre$tri¢ted fund$ General fund Working captsl Property Flexible endowment Revaluation reserve Ethics of Charitable Giving Good Gtfts Monitoring Computer and IT Upgrade Publications Knit for Peace Middle East Knit for Peace Working Capttal Knitting as Team Building for Companies 83,195 200,000 103,OIKI 730,0110 374,964 395,OIXI 23,4110 70,0110 25,000 60,0110 203,OIJO 12,0421 131.1951 49,958 200,000 103,000 1.150,000 201,833 25,000 23,400 20,000 25,000 60,000 203,000 420,000 {173.1311 {370.0001 150.0001 2.327.559 1175.1731 {31,1951 2,121.191 Ro5tri¢ted funds Card Aid Charity Direct Good Grft5- charitable gifts Good Gifts- running Costs Knit for peace 128,319 141,644 373,127 12561 49,574 48.631 197.2891 47.9591 11611 18851 165.0481 97,289 127,902 190,333 356.710 47,959 47.299 674 945 TOTAL FUNDS 3.018,608 222.4721 2.796.136 Page 24 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS - contlnued Net Tnovement in funds. included in Ihe aiK)ve are as follows.. Incoming Resources expend Gains and losses Movement in funds Unrestricted funds General fund Rev81u8tion reserve 165,4861 12,0421 173.1311 173 1311 {65.4861 1173.1311 1175,1731 Restricted fund$ Card Aid Charity Direct Good Gifts- charitable gifts Good Gtfts- running (xists Knit for pea 12581 115.5201 1339.3561 1166.0961 177.1121 12561 49,574 48,631 97.2891 47.9591 65,094 387,987 68,807 129,153 698,342 47 2991 TOTAL FUNDS 714,487 763.8281 173.1311 222.4721 Page 25 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS - contlnued Comparatives for movement in funds Net movetn8nl in fvnds Transfers belween funds At 30.6.21 At 1.7.20 Unrestrlcted funds General ftjnd Working capital Property Flèxible endowmènt Revaluation reserve Ethics of Charitable Giving Good Gifts Monitoring Computer and IT Upgrade Publications Knit for Peace Middle East Knit for Peace Working Capital Knitting as Team Building for Companies 79.626 200.0(H) 103,0(MJ 730,OtK) 374.964 395.0(N) 23,4CM) 70.0(N) 25.000 60.OCH) 203.0(M) 60,0(M) 34.522 130.9531 83.195 200,000 103,000 730,000 374,964 395.000 23,400 70,000 25.000 60.000 203,000 60,000 2.323,990 34,522 {30,9531 2,327,559 Restricted funds Card Aid Charity Direct Good Gifts- charitable gifts Good Gtfts- running costs Knit for peace 130.547 141.229 325,758 12.2281 415 118,443 1102,0271 47.537 128.319 141,644 373,127 171.0741 102,027 422 47.959 597,956 62,140 30,953 691,049 TOTAL FUNDS 2,921,946 96,662 3,018,608 Page 26 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS - contlnued Cornparative net Tnovement in fvnds. included in Ihe aiK)ve are as follows.. Incoming Resources expend Gains and losses Movement in funds Unrestricted funds General fund 69,5￿j 1247,9631 212,895 34,522 Restricted funds Card Aid hanty Dire¢t Good Gtfts- charitable gifts Good Gifts- running costs Knit for peace 12,2281 11,8951 1288,4101 1184.5751 12,2281 415 118,443 1102.0271 47,537 2,310 406.853 82.548 47,537 539.248 477.108 62,140 TOTAL FUNDS 608.838 725.0711 212.895 96.662 The Directorfs hope to set ashle time to write a guide on Ihe Ethics of Charitable giving, is unlikely to be re8lised because of pressure of work_ Good Gifts monitoring- a provision for travel o)sts to monitor projectslgrants. The sum of £20,0(K) has been designated forfuture computer and tt and website upgrades. Publications £18,000 has been sel aside for the publicats'on of Exercises for Knitters, and £7,000 to publish photographs of our projects. which were kindly laken by Ajan Judd, and to print cards for Knit for Peace. Knit for Peace in the Middle Easl was launched in December 2018. The sum of £60,000 has been set aside lor planned expansion into Jordan and the West Bank. A visti tr) the 'Knit a Community Gonventions in Israel was cancelled due to ill heamh. The Charity has working capiial requirements. However, with an adjusted focus on Knit for Peace, the working capital fund has been reduced in recent years. Property - The downsiairs toilet needs to be re-liled. CleariThJ up the Knitting rcM)m and hall is a particular concem. The exceptionally heavy rainfall led to f10(xYing at Radius Works, and damage to the drains. We are still trying to resolve this Wrth the insure[5. In 2002, the Trustees decided to establish a Flexible endowment fvnd to enable grants to be made when suitable projects came to their attention. In 2010, the Fle￿￿le endowment fund has been used as a buffer to underwrite some of the restricted funds where payouts were greater than the fund b8lan¢e. The trustees felt since we had reserves it was better to use Ihem to protect our beneficiaries. hard hit by recessK)n, rather than set them adrifl. Page 27 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS - contlnued As explained in Note 4. part of the sales prweeds of donated cards through the Card Aid scheme is payable to named beneficiary charities or classes of charities. Most of the amounts payable from the Card Aid Fund ale distributed in February or March after the end ol the Card Aid season but some funds for specified G3uses (rather than for specrfifj charttiesl are distributed throughout the year In acoordance with the Charity's grant-making policy. Any such amounts not spent by the year-end are carried forward for distribution in the following financial year. The PLJrpose of Charity Direct is to encA)urage tax-effective gwing through Gift Aid donations fro individuals. The amounts donated a￿ expendeLI for charitable purty)ses at the instructions of the individuals concerned. The Charity Direci fund is also used to channel other donations to good causes. The G[￿ Grfts scheme encourages donatm￿S to a sekction of SpeC￿C charitabk purpos85. Generalty, the donations a￿ passed on to a named charity but the Charities Advisory Trust Itse￿ takes direct responsibility for some of the projects. This income. and the corresponding payments to charities, are shown above as Go(Kl Gift5- charttable gtfts. Gixxl Gtfts payrnents are rllade twice yearty. There was a transfer of £66.094 out of Ihis reserve at the year end. This includes £36,$42 which was Knit for Peace income received through GCKXJ Gifts, £1,129 lor Good Gifts Advent Calendar admin eharges and £27,538 which was comwnis5ion charged on all gifts to cotllpensate the card payment fees and international transfer costs. The remaining drfference represents money raised through the sale of Christmas cards speafically in aid of GcM)d Gifts projects. Th8 Charrty charges a small tK>Stage and packing fee for Gotxl Gifts ov8rs8as orders and encourages th8 donor to make a Gift Aid deciqration to enable lax to be reclaimed. helping cover the running costs of the scheme. This income is shown above in Good Gifts running costs. The corresponding resources expended are part of the running costs of the scheme, the balance being funded from the General fund. Knitting as team building for companies - we are lrying to erKourdge companies to use knitting days for team building. The balance in the Revaluation reserve is calculated as the excess of the value of investments over the historical cost (there was excess at 30 June 20101. The reserve is represented by ihal part of the investments. 18. RELATED PARTY DISCLOSURES David Russell, a Trustee at the Charity, is a consultant at SURF. During the year grants totalling £92.645 12021.. £76,019) wèrè madé tr) SURF to hèlp fund thè SURF Rwanda livèlihoods, Iwèstock and èdue3tion projects. Charities Advisory Trust has supported SURF since belore David's appointment as Trustee, and he has no involvement in the donations made to SURF. Page 28 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 19. GREENWAY HOTELS PRIVATE LIMITED The Charity has a subsidiary called Greenway Hotels Private Limited. a wmpany registered in India. established to preserve historic buiKlings by ￿rulbishlng them lor sustainable use in tourist ventures. The company's first project was a historic palace in Mysore - the Chittaranjan Palace - which is now run, as the Green Hotel, as a demonstration projed showing how tourism ventures can be run on a non- exploitative basis and can benefit employees. the Iwal cornmunity and visitors. Profits earned are distributed for charitable and environmental purposes in India. These grants are made out of profits before the end of the year. In past years the Charity has made grants to the company to renovate the palace 8nd rnaintsin its fabric. Consolidated accounts have not been prepared in respect of the subsidiary company as explained in Notè 1. Dué to thé Coronavirus pandemic, thè Hotel did not trade in 2020121, but the resuts of the company for the year ended 31 March 2021 were as follows.. 2021 R5'1KK) 2021 2020 RS'OOO 2020 Turnover Less.. Operating costs 634 5,4601 6.165 53,095) 19,433 20,6821 208,032 221,4031 14.8261 {46.9301 {1.2491 31 113,3711 321 Taxation Loss for ihe year 4,8261 46.930) 1,2521 13,4031 Profit and loss account.. At start of year Profrtlllossl for year Exchange Differences 16,8331 {4.8261 173,1481 146.930} 6,703 15,5811 11,2521 161,7641 113.4031 2,019 At end of year Share capital {11.6591 8,997 1113.375} 87.489 16,8331 8,997 173.1481 96,314 Total capital and reserves 2,6621 25.886) 2,164 23,166 Assets and liabilities.. T(>tsl assets Less.. totsl liabiltbes 7,828 10.4901 76,122 102.008) 12,875 10.7111 137,828 114.6621 2.6621 25,8861 2,164 23,166 Page 29 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 20. CORPORATION TAX As a registered charity there is no liability to tax on the interest received. The Charity is liable to tax on its trading activities but after taking into account the nob.onal market value of the donated g(nds and the nots'onal cost of volunteers in the Card shop5 arKI other donated service5 there are tax losses. Page 30 o)ntinued... THE CHARITIES ADVISORY TRUST Notes to the Financial Statements - continued for the Year Ended 30 June 2022 21. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fvnds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legaGies 241 539.248 539,489 Charitable activities Turnover from purchased g(M)ds Turnover frotn dongted g(K)ds Other income 5,269 39.159 12,759 5,269 39.159 12,759 Investment in¢ome 12.162 12,162 Total 69.59) 539.248 608.838 EXPENDITURE ON Charitable activit185 Good Gtfts Advisory Servi Direct awards programme Card Aid Peace Oil Peace prqects Other 472.987 472.987 1.691 3,001 2,228 1,318 223,360 20,486 1,691 1,106 1,895 2,228 1,318 223,360 20,486 Total 247.961 477.110 725,071 Net gains on investments 212.895 212.895 INCOME Transfers between funds 34.524 30,9531 62.138 30,953 96.662 Net movement in funds 3.571 93.091 96,662 RECONCILIATION OF FUNDS Total funds brought forward 2.323.990 597.956 2.921.94fj TOTAL FUNDS CAR￿ED FORWARD 2.327.561 691.047 3.018.608 Page 31 THE CHARITIES ADVISORY TRUST Detsiled Statement of Financial Activities for the Year Ended 30 June 2022 2022 2021 INCOME AND ENDOWMENTS Donations and legaciès Charity Direct donations GOLXI Gifts donations- gifts Go￿1 Gifts other incorne Knit for Peace Other voluntary incorne 65,094 387,988 68,808 115,212 2,310 406.855 82.547 47,537 240 637.102 539,489 Investment income Dividends Bank interest receivable 10,595 142 11.237 925 10.737 12,162 Charitable activities Incoming reSoUr￿S from Charitab￿ activities 62.398 57,187 Other Income Gain on sale of tangible fixed asset5 Total incoming rèsourcès 714.487 608,838 EXPENDITURE haritable activitie$ Wages Social security Pensions CAID operational costs Printing, over printing, cards postage, and stationery Direct eharitablé aetiwb.ès PR and Publicity Sundries Grants to insts"tutions 221,908 28,386 4,998 226.279 18,949 25,100 470 42,320 15.530 8.398 354.976 292,844 634,196 606,730 Support C05t5 This page does not f(Ym part of ihe statutory financial statements Page 32 THE CHARITIES ADVISORY TRUST Detsiled Statement of Financial Activities for the Year Ended 30 June 2022 2022 2021 Support costs other Office accommodation Postage, telephone & office expenses Vehicle running costs Sundries Bank charges Depreciats'on of tangible fixed assets 68,630 24,278 3,060 8,336 1,128 17,650 70.511 32,181 2,938 1.454 3,522 123.082 110,690 Governance costs Auditors, remuneration 6,550 7.651 Total resources expended 763.828 725,071 Nèt 8x￿ndIture b&fora galns and losses 149,3411 1116,2331 Realised recognised gains and losses Realised gainslllossesl on fixed assel investments 173.1311 212,895 Net lexpendlturevlncome 222.4721 96,662 This page does not f(Ym part of ihe statutory financial statements Page 33