REGISTERED COMPANY NUMBER.. 02895760 IEngland and Walosl REGISTERED CHARtrY NUMBER.. 1040487 Trusle•s' Rèport and Flnanclal Statornents for tho Year Ended 30 Juno 2023 THE CHARtriES ADVISORY TRUST
THE cHARlEs ADWSORY TRUST Contents of the Financial Statements for the Year Ended 30 June 2023 Pagè R8ferenco and Admlnlstratlve D•tail• Trust•e8' Report 2 to 6 Roport of tho Ind•pond•nt Audltorn Stat•mont ol Flnanclal Acllvltlos 10 8alan¢• Sh••t Ca•h Flow Statemgnt 12 Nots8 to the Cash Flow Ststom•nt 13 Noto# to thè Flnanelal Staiom•nts 14 to 30 Dotallod Statgm?nt ol Flnan¢lal A¢tfvltlo• 31 to 32
THE cHARlEs ADWSORY TRUST Reference and Administrative Oetai18 for the Year Ended 30 June 2023 TRUSTEES D Russdl Ms L M Ma¢tavish Ms R Lhjnn COMPANY SECRETARY Dame H S 8 Blume REGISTERED OFFICE Radiu5 Works Back Lang Hampsl8ad London NW3 1HL REGISTERED COMPANY NUMBER 02895760 IEThJlaThJ and Wal861 REGISTERED CHARtrY NUMBER 1040487 INDEPENDENT AUDITORS Kno¥ Cropper LLP Chartered A¢e(yJntants and Stsiulory Auditors 65 Leadenhall Str London EC3A 2AD Page 1
THE cHARlEs ADVJSORY TRUST IREGJSTERED NUMBER.. 028957601 Trustees. Report for the Year Ended 30 June 2023 The truste88 who are 81so dir8Ctors of the charityfor Ihe purrKxes of the Compani88 Act 2006, pr888ntth8ir report with the financial statements of the chanty for the year endeil 30 June 2023. The trusle8s have adopted th8 prowsions of Accounting and Reporting by Charities." Stalement of RecA)mMeed Practi applicabse lo charities preparing their account5 in accordance with the FThncial Rewling SiaThJard applKable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTMTIES ObiÉetlVÉ8 and alms The Charity's main objeelives were to conb.nue to plan the transiticffi from income dependency on Card lj to other 11 To rnaintsin the Good Gifts Catskngue.. 21 To pond to the organic growth of Knii for Peace,. 31 To rgCQgnis¢ the ne¢d to draw on er¥¥ tQ SUFPWt thg ChariVs objeth'vgs 41 To dèvlse ino)me generat schemes lo lund Knil lor Peace on a sUslainab basis", 51 To promoie thè hèalth bèn8ffts of knItn0'. Publlc b¢n•fit The area ol benefit is wd8, Consistent wrth Ihe charivs objects. The promotion of religion is not supported, and ITh general Ihe priority is lo provide help lo the poor (w disadvantaged. except where, for example with tree planting, thèr8 is general bènafil 10 tha eommunity. Our supwort for art projeds is largaly to provida access to tha arts for tho$¢ under 18. Support lor mgdkal r0h tsk¢ 05 PQtonbalty bgn¢fitting all Secon$ of the rnMunhy. Grantmaklng Most ol our grant making Ss Ihwugh IL*)ds raised through the Good Grfts CatAbgue. Applicafjons lor fundlng for individuals arè r8rèly. if èvèr, sueeèssful. Wa woth with charitias with w8 havè dèVèlod 8 programm8 10 deliver the ouieom•s wt saèk. Page 2
THE cHARlEs ADVJSORY TRUST IREGJSTERED NUMBER.. 028957601 Trustees. Report for the Year Ended 30 June 2023 ACHIEVEMENT AND PERFORMANCE A¢tivltles. achlevtrments and perfom)an The e¢onomi¢ Climate continues to make everycw caulious about Spj1) aThJ this impacts on giving to all charities. The difficult economic conditions made belt-tightenitNJ es5enlial. Card Ak For over 40 years the Twst has produ¢ed and markeied charity Chrislmas cards. Our Annual Scrooge Awards led lo Incrèased revènue In fa¢t generating millKin$ of pwnds for ¢harrty. The de¢ling in r¢ sènding seems to us Inexorab. The high eosl ol poslage. tbe unreliabilty of the mail. the ease of sending e-cards or. lor the young, text messages., all conts'nue lo erode the rn8rket. We ihereftjre produced no new cards, and rnarketed existing Slock. Sales dropped fr¢)m £3.827 10 £278. Good Gifts Calabgue For Gty)d Gifts. we noted people conb.nued lo buy ss expensive gifts aThJ spent less overall. Knlt fgr Pg8¢¢ Knit for Peace is a major part of the Trusfs work. 11 has grown in sponSe to the demands of both knitters and those needing warm cloihes. and we are prtsJd ol our ab.lity lo wspond lo these real needs. A major part of the work is distributing the donaled knilbng. We have ov8r40.000 volunte8rs in the UK donating th8ir knitting to those In n8èd. We held a very successful holiday in Mysore in January 2023. Parbripan¢s who trad begn on the hdid8y before were delighted lo tUrn lo the Green Hotel posl Ihe cowd pandemic which forced cbsure of the hotel and prevented visits in the pVIouS Iwo years. We wew honoured to be ¢hwn as thg thanty of ihe Or by People'5 Frlend Magazine, whi¢h brought Knlt for Peace lo a wider audience. We woukj Ilk6 to ex[$ our thanks to ouiwondarful vdunte8rs wtho ara worth their Weh¢ in gold. Tribute should bè P8KJ to thè staff. who had to tak• on a much h•aviar woth bad to meat thè suee•ss ol Knit lor P88U. Fundraisir@ Policy Dunng the year. Charrties Advisory Trust dY make use of any ¢utt0nts or extem81 professlonals to undertake its fundraising actmties. Additionally, no ¢Jata was shared or sokj to, any èxternal agencies. We did not undertake dir8Ct rnail shots, $8n<J any unsokilwj n8WStters or approach any vuln8rable individuals to support our work. A compLqinis policy is in place. bul we received no comp18ints during the year about any of our fundraising activity. FINANCIAL REVIEW Invt$tm•nt polley and p•rfom)ane• The Charity's investments are d@Sned to m8el the Trustees. wishes for environmental, social and 8thical investment. The Trustees continue lo rnonilor Ihe rfornnce of these investments ckjsely. Page 3
THE cHARlEs ADVJSORY TRUST IREGJSTERED NUMBER.. 028957601 Trustees. Report for the Year Ended 30 June 2023 FINANCIAL REVIEW Resfrryes s)olicy The Trustees are sats"sfie(I that the Chaity mainta.ns a slrorY4 financial Fw)sil)n wlh a healthy level ol gèneral reserve5. They ath)pt a pwdent attitude towarijs serveS which in Ihe urcuTnstarKe5 ha5 proved wise. Our reserv8s, built UP OV8r the years, and dedining since atrKJut 200B, giv8 a rnore theerftjl vN8w of our fin8nc88. Our income has been dedining (because of the decline of Card Aid). Knit lor Peace is Inc1b worthwhile. bolh in providtng wami cbfftes aftd blankets to those in need. which shows them they are not loryotlen and valued. More Ihan thal. Knit for Peace is enabling peop of all backgrounds 10 continue lo fgel u3eftJl and overcome the iwlation 8nd powerlessness of 0 age. We are delemiined to conts'nue the project, bul do not want lo do so lo the exdusion of our other aclivib"es. Designated lunds The Trust8•s have considefyd thè iJ•signat8d lunds li thè 8ecounts and ftsl that thè various provisions ara prudent. Project development." We èxpect lo continue Ihts eXpansn c¥) our th on P8ac 8r¥J Roc£Jnclkqtion and on Knit lor Peace and shall contlnuè to invèsi In Improved IT sysi8ms. Endowment Fund.. We are planning for an expected decline in ino)me. we expect lo thaw uTr our reserves lo fund our work and worthwhile grants. The p8ndernic has been a difficutt tirn¢. The trustg9S tc#)k the dw$1 Ihal priority Shou b? given to those we help. rather than conserving our resources. Whi151 our Inco droppeil bolh for Knit for Peace and Ihg Good Gifts Catslogue, our existing sutrfx*1efs wnalned knyal. Wè movad from a full prlnléd Good Gffts CatabJu•. b)th for reason of eosl. p8rtitularty postagè, 8nd for environrnenlal reasons. Also for environmen181 rea$$. we have enuraged knitters lo donate knitting to local chanties. dUcn9 transrort costs. In ossenca thè pandemic showe(l us how peoplè Valu tha woth wè do. Thèy eould tum to u$ for èmOrneY funding frorn Good Gifts. lo Knit for P8ace lor yam and rnat8rials to ke8p the knilt8r5 knitting, and for community groups, hospKes, and car¢ hrme8, wyjnderful warm Clo1 and bkqnketsl FUTURE PLANS Improvè IT. This is an ongoing p$s- Expand Knrt for Peace, in the UK and Middle Easl., Spread the awareness of the heatth benefiis of knitting STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The Charity is regislered as 8 challtab company lirnrt8d by guardnte8 and is governed by rts memorandum and artid8s of association. The Charity has no share Ggpilal or debentures, her there are no Trustees. inter8sIs requiring disclosu. In the evenl ol the Chari¢y being wwnd up ea¢h member is required to ntribUte an amount not exceeding £1. Page 4
THE cHARlEs ADVJSORY TRUST IREGJSTERED NUMBER.. 028957601 Trustees. Report for the Year Ended 30 June 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Trnstees The Trustees, wbo served in the year. Oavid Russell. Leila Mactavish. and Rthena Dunn. Trustees a appointed by the members of the Charty. bvho are curyenlty the sart as the Trustees. The Charity sees no need lo have a PDlicy on the reCrUitmet, induct and training ol Ttee5. Organlsatlonal structure and decislon making The founding Director. Dame Hilary Blume. is responsibb to the Trustees for the daY-tdaY management of th8 Charity and othèr staff rerx)rt to her. The Chan¢ys towards staff is lo ensurè that all staff arè given the opportunity lo alIse their full polenlial. The Trust pndes ilsell on being a leamiThg environment. 11 shtyJld be noted th£1 the Trust has a 51ricl policy on paying graduate inlems. whh rt believes provides opportunities for those not 3ubsidised by their famil$ nor the Sts¢g. Key management pèrsonnèl The key mana9ement personnel ol the Charity a those pers(x)s having authority and spOnsIbl1Y for planning, directing and controlling its activities. ijirecty or indirecijy. inthding any Trustee of the Chanty. In addition to tha Trustees, key rnanagernent personn¢l indude5 th8 Director. Darne Hilary Blurne, wh058 remuneration is 59t by the Board ol Trustees and Deputy Director Avril Jn&la. R¢lat•d organlsatlons Datsils of thè Charills subshyiary eompany In Indla, Gr8•nway Hot•ks Priva1• Llmtt8d. ar8 glv•n In Nol• 2110 Ih accounts. The cornpany was established ITh pursuit of the Charity's object of preserwing buildings of archileclural merit and its primary activity is currentty the wnning of Ihe Chittaranjan Palace in Mysore as a holel Ilhe Gen Holell in order to preserve it. Profits from the Green Hotel a given charitabb and environmental projects in Rlsk man8gem¢nt The Trustees have assessed the major iisks to whKh the Charity is exposed, in particular those relaled to the operatlons and finan$ of the Charty and a satisfd Ihal systems are in place lo mitlgate the exposure to the major risks. Our resilièncè during thè pandèmic pays testsmèni to the Oan1$8n,$ ju¢Jicious planning. TRUSTEES. RESPONSIBILITY STATEMENT The trustees (who arg also the directors of The Charities Advisory Trust for the purposes of company lawl are responsible lor pparIng the Trustees. Rewrt and the finar1 statements in accA)rdance wrth applicable law and Unlted Klngdom Aecounting Standards Iunitad Kingdom Genwalty Accepted Accounting Pra1. Cofflpany law r8quirgs th8 InJ51ee5 lo prepare finanaal staleThnts lor gach finanal year which give a true and fair view ol the State of affair5 of Ihe charitable company and of th8 incomin9 resources and application of sources. induding the income and expendi1b. ol the rarilable company lor ¢hal peri. In preparing those financial statements. the trustees a wuld 10 select suitable accounting policies and Ihen apply Ihem (rJrw%ienlty; observ8 the rnelhods and prinCipS in the Charity SORP., make judgements and eslimales that are wsonable and Yyent- ppare the flnaneial statements on the going concem basis unless it is inappropriate to presume that the ctharitab eompany wll continue in busir*ss. The trustees are responsible for keeping proper aco)unting records whith disckjse with reasonable accuracy at any time the financial position ol the charilable company and to Ènable them loensurethat the financial slalemenls comply with the Companles Act 2006. They a also resKKJnsib for safeguarding the assets of the charitable cornpany and hence for taking reasonable 5tep5 for Ihe prevention at¥J detectwm of fraud and other irre9uL4ntie5. Page 5
THE cHARlEs ADVJSORY TRUST IREGJSTERED NUMBER.. 028957601 Trustees. Report for the Year Ended 30 June 2023 TRUSTEES. RESPONSIBILITY STATEMENT- continued In so far as the trustees are aware: there is no relevant audit informatK)n ol whKh the tharilable companls auditors are unaware", and the tru51ees have taken a115teps Ih8t they ought to have taken to m8ke themsefves aware of 8ny relevant audrt information and to establish that th8 auditors ar8 aware of Ih8t infcThation. AUDITORS The auditors, Knox Cropper LLP, will be wopctsed forfe-aprwjnlment at lJ)e forthcoming Annual General Meeting. This report has be8n prepared in xcordance wth Ihe special provisws ol Part 15 of the Companies Act 2006 relatsng lo small companies. 26th March 2024 Approve(I by of¢Jer ol the boarij of Iruslees cm.-........................................... and signed on Its behaw by.. D FiusseN- fruslèe Page 6
Report of th8 Indopendent Auditors to the M8mbors of The Charities Advi50ry Trust (Registered nurnber= 02895760} Opinion We have audited the financral statetnents of The Chan"e5 Advi50ry Trust lthe'charitable corllpany'l for the year ended 30 June 2023 whth comprise Ihe StaterTnt of Finan(aal Actwities, the Balance Sheet, the Cash Flow St8tern8nt and notes to the financi81 staiem8nts, includin9 a summary of svJnificAnt accounting policies. The financial reporting framework that has been applie¢ in Iheir tweparalion is applicab law and United Kingdom Accounting Standards (United Kingdom Generalty Accepted A¢cA)UntI Practice). In our opinion the financkql st8ternents'. give a tru8 and fair view of the state 01 th8 charit8bl8 cOrnpan5 affairs as at 30 June 2023 and of its incorning resources and application of resour¢os. including its income and expendrture. for the year then ended.. hav8 b8en property prepared In accordanc wilh United Kin9do7) Gen8rallyAccÈpted Accounting Practsc8', and have been prepared In accordance with Ihe requirements ol the Companies Act 2006. Basls for opinion We condtscted our audit in accordance with InIemalnaI Slandards on Au¢JitsrKJ IUKI IISAS IUKII and applicab law. Our resFM)nsibilitses under Ihose slandwds a further described in the Auditors. responsibilities for the audit of the financial slalemenls section of our pOrt. We a independenl ol the chantable company in accordance with the ethical requirements that a relèvant to our audit of the financial $teMentS in the UK, ineluding thè FRC'5 Ethic81 Standard, 8nd have lu1fi18d othor thical responsibilitigs in owrdance wrth th8Sg requirements. We b81ieve Ihal th6audit8viderKew8 have obtained is suffioenland appropriate to provide a basis lor our opinion. Conelu8lon¥ rèl8tlng to golng eoneom In auditing the financial 5talernenls. we have concluded Ihal the trust9. of th¢ going rcern basls of accounting In the preparation of the finanrAal statements is appropnale. Based on the work we have performed. we have noi idenltfied any malerfal uncertainties relating lo events or conditions Ih8t. individualy or co1C*1y. may easi swJnificani doubt on tha Charitab company's 8bility lo ¢ontlnu? as a goin9 ¢QnCorn for a pewlod of at knast InthS from when th? fin8n¢lal ststemgnts 8 authorised for issue. Our rosponslbllrties ond the reSnsIbIl8 of tnJstees wrth rnspget to Wng concam are dèscribed In tha rèl8V8nl s8etions of Ihls rèport. O¢hgr infomia¢lon The trustees are reswnsible for the other inliKmotioTr. The other infomith.on ¢pSe$ the infomiation Included In thè Annual Report, Olhèr than the financial sts16ments and our Report of tt)e Indendent Auditors thèroon. Our opinion on th8 financial stalem8nts doe5 nol cov8r Ihe other inforrnation and. excepl to thè èxl8nt oth8rwis explicitly stated in our rerKJrt, we do nol exrKe5s any fonn of assurance condusion thereon. In connectK)n with our audit ol the finanual slatements. our sponSIbl[1ty is to a0 the other information and. In doin9 so, considèr whèthèr the Othèr information is maiari81ty inconsistent wth thè f narnci81 staiemants or our knowledge obtained in the audit or otherwise appears to be malerially misstated. If we identify such material inconsistencies or apparent material misslatemenls. we are required to determine whether this gives rise lo material misslalement in the finan(aal $kalements themselves. If. based on the work we have perfomied, we conclude that there is a material misstatement ol Ihis olher infom)aiion. we are required to report that fact. We have nothing lo pOrt in Ihis grI1. Page 7
Report of th8 Indopendent Auditors to the M8mbors of The Charities Advi50ry Trust (Registered nurnber= 02895760} Opinion5 on other matter5 prescribed by the Companies Act 2006 In our opinioN. based on the work undertaken in the course ol the audit.. the infomation gwen in the Truste8s' Report lor the financial year for whh the financial statements are ppared is consistent wilh the financial slalements.. and the Trustees, Report has been prepared In accordance bth appINe al reqU1Ments. Matter5 on which we are required to report by exception In the light of th8 knowledge and understanding of the charitabl8 rA)mpany and its environm8nt obtained in the course of the audi¢. we have not Identifieij malenal misslalements in the Trustees, Report. We have nothing to report in respect of the lok1) matters Whe the Compan$ Acl 2006 requires us lo report to you if, in our opinion. adequate accounting words havg not been kep¢or relurr¢ adequatg forouraudit have not begn received from branches not visited by us". or the financial statements are nol in agement with the acctsJnlityJ records aThJ retums.. certain disdosures ol trustees. remuneralion speofied by law a not made." or we have ntsl receive(J all the 1nlormats.on and expLanèiiong we require for tr audit", or the Irust8e5 were not entrtled to take 8th8ntage ol the 5rnall ¢ompanie5 exemption from the rgqyirgmgnt to prepare a Slralegic RekKJrt or in preparing the twst8es' Re[. R¢spon51billtlo¥ ol irust•O$ As èxplainèd more fully in thè Twsleès. R•SpC$1bI1l1I•s Sl•M•ni. the Irusi8•s (who arè also th8 dlrèctors of th• charitable company for the purp058s of cornpany lawl are responsible for the preparation of the financial statements and for being satisfied Ihat Ihey give a true and fair view, and for such intemal control as the trustees elermine is necessary 10 enable the preparalion of finanrjal slalements that are free from material misstaiement. whether due lo fraud or error. In preparlng the finanryol st8t?ments, the trustees ar¢ responsib for assessing the charitabb ¢ornpany'$ ablllty to continu8 as a going concern, dis¢knsing. as applicable, matters related lo going concem and using the going concern basis of accounting unless the trustees either intend lo liquidate Ihe chantable company or to cease Oporatlons, or have no raalislic alternative but 10 do so. Page 8
Report of th8 Indopendent Auditors to the M8mbors of The Charities Advi50ry Trust (Registered nurnber= 02895760} Our responsibilitie$ lor the audil of the financial slatements Our objectives are lo obtain reasonable assurance about whether ihe finalloal staternents as a whole are free from material mis5tsternent, whether ijue to fraud or erTor, and to issue a Rep(xt ol the Independent Auditors th8t includes our opinion. Reasonab assurance is a high Ve1 of assur8nr£, is not a guarantee that an audit conducted in accordance with ISAS IUKI will aayS detect a material misstalemenl when rt exists. Misstatements can anse from fraud or error and a considered material if. indivKlu3ltyor in the aggregate. Ihey could reasonably be expected to influence the e(LOrnIC deciOn5 ol u5er5 taken the basis of these financial 5tatement5. The ext8nt to whith our proc8dures are Ggpablè of detecting YreguLqrib8s, incJAding fraud is d8tailed b81ow: Irregularities, in¢luiJing fraud, are Inslancos of nonlanCe bth and regUlatn$. We design pro¢edures In line w1th our responsibilities. outlined above. lo delect material misslatements in respect of irregularities, including fraud. The extent to which our pledUS are c8pae ol deteclir¥J irregularitie5, including fr8LKJ is detailed b910w'. The Chantable Company is required lo comply 1h both company law and charity law and. based on our knowledge of ils aclivilies, we identified that the al requ1ment lo accuralety actnI for restried funds was ol kèy signrficanea. - We gained an understanding of how Ihe thanlabl8 company complied with its gaI and gUlatOry framewoth, induding tho quirement lo property account for restricted funds, through diScussn$ with management and review of the docum6nted pol&$, pro¢VreS and conlwls. - The audit 188rn, whKh 15 experienced in the audit of charilie5. considered Ihe charitsb companws 5usceplibility to material misststemenl and how fraud may occur. Our consmyerations indied the risk of management override. Our approach was lo check Ihal all restricted income was Kwopety identified and sepaffjtety accounted lor and to ansure that onty v81id and 8ppropri8tt exndlIurts was Char 10 fystrictèd fuThJs. This indudad rèvièwing loumal adluslrn¢nts and unusy81 tr8ns8ctions. A further description of our resrM)nsibilities for the audit of Ihe finanoal statemenls is located on the Flnancial Roporting Councll's website al www.Irc.cg.ukJoudilorsresrthsibiliti6s. This dèscripts.on forms part of our Report of th• Ind•p8nd8nt Audrtors. Use of our report This report Is made solety to Ihe charilable mpan$ members. as 8 bcty. In 8c£ord8nce wrth Chapter 3 of Part 16 of the Companies Act 2006. Our audrt Wtstk has been undertakèn so that we might stale to thè eharilable cornpany's mefflbers those matters we are required to slate to Ihern in an auditors. r8POrt arKJ for no other purposè. Tothe fUlst extent perrnilted by law. we do notacc8Pt ora5surne r8spon5ibility 10 8nyon8 oth8rth8n thecharilabl company and the charitable company's rnembers as a trKJy, lor our aLKlil work, lor this report, or for the opinion3 we have fomed. Richard Billinghursl (Senior Slalutory Avdrtorl lor and on behaff of Knox cpper LLP Chartered Aecountants and Ststutory Auditors 65 Leadenhall Streel London EC3A 2AD Date.. 2610312024 Page 9
THE cHARlEs ADWSORY TRUST Statement of Financial Activities Iln¢orporatlng an In¢ome and Expendlture A¢¢ountl for the Year Ended 30 June 2023 2023 Total funds 2022 Total funds unStriCted funds Restricted nds Note5 INCOME AND ENDOWMENTS FROM Donations and legaci8S 789 453.324 454.113 637,102 Charitsble a¢tlvltlo8 Turnover from purchase(J goods Turnover from donated goods Other incorne 7,865 33.740 278 7,665 33.740 36.483 15.121 15.850 31,427 36.205 Inveslmtnl Incme Other income 14,505 14,505 10.737 4.250 Total 495 007 714.487 EXPENDITURE ON Charftable 8Ctlvlths Goo¢ Gifts UK Disaster Relief Advisory Service Direel awards programma Card Aid Peace prdects Other 164,645 303.132 467,777 2,300 3,768 44,122 3.768 191,765 22,446 9,639 505.454 1.014 1.539 18.586 258 180.098 19.129 37.750 3,768 4,398 3.768 179,090 22,446 9,639 39,724 12.675 Prtsj8Ct Developm•nt Totsl 747 471 763 828 Net gainsllkjssesl on Inveslrnenls 173 131 NET INCOME1(EXPENDURE> 1306,4131 139,476 1166,9371 1222,4721 Transfers between funds 19 Not mov•m•nt In lunds 1155,7261 111.2111 1166,9371 1222.4721 RECONCILIATION OF FUNDS Total funds brought forward 2.121.191 674.945 2.796.136 3.018,608 TOTAL FUNDS CARRIED FORWARD I,5,465 663,734 2,629,199 2,796.136 The Th)tes partofthese finanual statements Page 10
THE CHAR lEs ADVJSORY TRUST IREGJSTERED NUMBER.. 028957601 Balance Sheet 30 June 2023 2023 2022 Notes FIXEO ASSETS Tangible assets Inveslrnenls 12 13 48.160 1 861 031 65.405 1827.002 1.909.191 1.892.407 CURRENT ASSETS Debtors Cash 8t bank and in hand 14 348,524 415422 294.841 712.123 763,946 1.006.964 CREDITORS Arnounts falling due within ong year 15 143.9381 1103,2351 NET CURRENT ASSETS 903.729 TOTAL ASSETS Less CURRENT LIABILITIES 2,629,199 2.796.138 NET AsseTS FUNDS Unreslncled funds Resiricied lunés 19 1,965,464 2,121,191 674,945 TOTAL FUNDS 2 629 199 2,796,136 The$¢ financi81 $tslemgnl$ ha begn prepared in accrydance wth tho provisions applicable to ¢hari18ble cornpanles subjeth ¢0 the small companies wime. The financial statements were approved by Ihe Board of Twslees and authonsed for issue on 26th March 20Z4 . al were its behaw by.. D Ru85811- Trusts8 The Th)tes partofthese finanual statements Page 11
THE cHARlEs ADWSORY TRUST Cash Flow Statement for the Year Ended 30 June 2023 2023 2022 Note$ Cash flows from operallng actlvltles Cash generated frorn operats'ons 1310,6571 199,1381 Net cash used in operating ath'vib8S 99.1381 Cash flows from Inv88tlng actlvttl•8 Purchase of tangible fixed assets Purchase ol fixed asset investments Sala ol langle fixsd assèts Inl8r8sI rec8iV8d 15491 175,8501 1400.0001 4.250 10.737 Net cash provkled byllused In) investsrvJ aclfvitss 4es.1131 Chan0• In cash and cash 0gulval•nts In the roportlng porlo Cash and ea$h •qulvalènt# at th• beginning of the reportlng period 1296,7011 1584.2511 712 123 1 276 374 Cash and ea8h •qulval•nt• •t •nd of th• r•portlng p•rlod 415422 712.123 The Th)tes partofthese finanual statements Page 12
THE cHARlEs ADWSORY TRUST Notes to the Cash Flow Statement for the Year Ended 30 June 2023 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net expenditure for tho reporting riod las porthe Statefflent of Financial Activities) Adjustments for. Depreciation charges (Gain)OSseS on Investments Profil on disposal ol fixed assets Interest received Iln¢rgas9Vde¢rease in debtors De¢ase In ¢r8dilors 1166,9371 1222,4721 17.794 134.0281 17.650 168.881 14,2501 110,7371 69.833 126.544 114,5051 153,6831 S9,297 Net c88h used In op8ratlon8 310657 99.1381 ANALYSIS OF CHANGES IN NET FUNOS At 1.7.22 C8sh flow At 30.6.23 N•t ¢a•h C8sh 01 bank and in harKJ 712 123 415422 Total 712 123 415422 The Th)tes partofthese finanual statements Page 13
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements for the Year Ended 30 June 2023 ACCOUNTING POLICIES Bas18 of preparing th• financial stsiements The financial slatemenls of the ¢haritsble Company. which is a publ benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021'Accounling and Reporling by Charilie5". Stalelnent of Recornmended PractKe applicable to charitie5 preparing their account5 in accordance with the Financial Reporting Standard ap l9ble in the UK and Republic of Ireland IFRS 102118ffectiV8 1 January 20191,. Financaal RerM)rbng Standard 102'The Finan(aal RerM)rting Standard applicable in the UK and R&puNic of Ireland. and the Companies Acl 2(Y)6. The finan¢ial staiements have been prepared under the historical cost convention. with Ihe exp1 ol investments whh are induded al markel value. as modified by the revaluation ol certain assets. The Finan¢Aal Ststements are presented in pound stsding. The Trustees cornsi¢Jer that lhe a no mat181 uThxrtaintes about Ihe Trust's ability to ntinUe as a going coneam. Consolidallon As explained in Note 21 the Charity has a gJbsHYiary in Itvjia. Gmnway Hotels Private Limiled. Under Indian law assets of tho subsvjiary are not Milied lo b6 repalriaied to Ihe UK and this substantially hindtrs thè 8x8rcisè ol control by Ihè Charity ovèr the subskjiary's assèis. Thè Ch8rfly Ihèrolorè doès not prepare group accounts. The subsKJiary is regarded by the Chariws Truste8s as an independent project and il is administered by a separate board ol directws. all Indkgn nabonals excep¢for the Charity's Director. Incom• All incoming rèsourcés ar8 shovm nèt ol VAT whère applie8b. Donatèd 9L¥)d9 for salè aw racOgnis in the Slaternenl of Finan¢ial A¢livitie$ as they sohj. Don8t¢d $?rvi¢es are only rewgnised to the extgnt that they are material and reasonabty quanlifiable and measurable.. in particular non-professional services from volunteers are nol rec(x)nised. Ml tradiThJ adw11$ are underiaken in furtheran ol the Charlly objects, including hSSiSling other eharilies wilh thair fundraising through raising their wofilè through tha Card and Good Grfls seh•mes. Training incomè is r8eognisd in the pèriod in which tha training èvènt took place., whert ineome for a training èvènl is received pr)r to thè event taking place, the income is deferred to Ihe correct financial riOd. Income lax recoverable in relation io investment income or Gift Aid donations Is renised at the bme the relevant mcome Is receae. Expendltur• All expendilur8 is 8ccoun18d for gros5, and wh8n incurr8d. Oirect Charitab 8XP8nditure includ8S th8 direct costs of charitabb activities and depreciation on relaled ass8ts. Wher8 such costs relate to more than one functional Cosl ¢alegory. they have been split on an eslimaled time basis for the stsff concerned. Support costs compnse those costs Incurred ¢erntrally in supp)rt of the Charitys aclivities. in¢luding Governance costs. and h8v8 b8on appOrtned toadiwtias in prOrtIon to the total costs olthosè activities. Govérnanea costs are those associat8d wilh meeting th8 con$tilubonal aThl statutory r8quirernents of the Charity and its strategic managernent. Grants payable are charged In the year when Ihe offer is made except In those cases where the offer Is conditvjnal. such grant5 being recognised as expenditurewhen the condilions attaching are fulfilled. Grants offered subj8Ct to condib'ons whKh hav8 rK)t been met al Ihe year-erKI are not8d a5 a commitment, but not a(xrued as expenditure. Pffje 14 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 ACCOUNTING POLICIES-continued Tanglble flxed assets and depreclallon Individual fixed assets cosbng tnore than £500 are cawtaI5ed at cosL Tanglble fixed assets and depreclatlon Oepreciation Is provided on all tangible fixed assets at rates cakulaied to write off the cost on a straight- line basis over their exp8¢18d useful eC0Th)m lives as fdk)ws.' Fumlture and equipmwt Motor vehicles 5 to 6 years 5t0 10years Taxatlon The charity is exempl from cLJrporabty) on ils charilab acb"vilies. Fund a¢¢ountlng The General fund Comprises unr8slricl8d funds which are available for use at th8 discrebon of the Trustees in furtherance ol the general ot4ects ol the Charily and which have not been ¢Jesignated for other purposes. D•slgn81d funds Corn$• unmstrsctsd funds that hav• bèan $•1 8sld• by thè Tfusi••s for partlcular purposes. The airn and use of eath designated fund. and lh8 basis of tran51ers to or from Ih8rn, are 58t out in Note 19. Reslricted funds a funds which are lo be used in accordancewilh specift $trictIOnS imposed by donors or whith havè t)èan raised by thè Charity lor particular purposes. Thè cost of raising and 8dministering such funds are Charg ag8ins1 th? lund. Th? aim and use of restrided fund 18 t out In th? noles to the financial statements. For•lgn curr•n¢l•• Asstis and liabili.•9 in for8n eurnèncs arè tr8nsl8t*d into stèrfing 81 thè r8tès of èxch8ng$ ruling 81 tha balance shtel dalè. Transaeiions in lotswJn eurrénciès arè Iran$latèd into st8rfing at tha rate of exchangè ruling a¢ the dale ol tr8n8arti. Ex¢hangg dfflerereS are taken into account in arriving at the net Incornellexpenditurel. P•n81on costs The Charity has hi5toricalty operated a defin8d contribulK)n pen5K)n 5ch8m8 the 85sels of which ar8 held separately from those of the Charity in independenlty administered ftJThds chosen by individual staff. For eligible 8laff, contnbutions payabk for the year are charged in the Statement of Finan¢ial Activities. Since Apri12016, The Charity has enrolled all newstaff in Nesysdefined (x)n¢n"bu¢KJn w0p1ace Pension Scheme. FlnancSal Instruments The charity only has finanrAal assets liabilities ol a kind that qualfy as basic financial instruments. These are initialty renISed at Irs8¢1)n Wae aid subseouenlly vakned at their settlement value. Judgements and k•y Sources of •5tlrnatlon uncortainty Judgem8n15 and k8y 50urce5 of 8sb"rnabon uncertainty ar8 detsId in th& abov8 aCUnting polici8s wher8 appli&qble. Pffje15 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 DONATIONS ANO LEGACIES 2023 2022 Charity Oirect donation5 Good Gift5 donatlOn5- grfts GcM)d Gifts other income Knil for Peace 80,773 294.704 59.574 19.062 65,094 387,988 68,808 115.212 637.102 Th8 Good Grfts sch8m8 encourwJ8s donatn5 10 8 SectIon of 5p8crf charitable purposes ¢J8scribed ITh a ca181ogue. The donor 15 ako encouraged to make a Grft Aid ded8ration and donat8 this Gift Aid tOW8rds the scheme's wnning costs. The r85Utbng income is th8 rnain cornponent of the Gd Grfts other ineorng shown above. The donc c8e$ IiteralJre associated with the donation for which they are charged posiage and packaging. Although this schem8 generales a significant amountolvoluntary Income all costs of administering the 5cherne are Induded as part ol the cost ol Charitable activitie5. Detai15 of grants given under the scheme are shown in Ngtg 6. INVESTMENT INCOME 2023 2022 Dfvléands Bank intere31 recelv8lAg 12,053 10,595 142 10.737 INCOME FROM CHARITABLE ACTMTIES 2023 2022 Tumover Tumov8f purchased goods donated gcx)ds Olher Total activities Total activities Ineoming rèstyjreès from charitable actNiti$$ 7.665 33.740 Details of the Good Grfts Stheme are given in Note 19. Donated Cards art sdd through the Charity's websites. The object of the Card Aid initiative is to maximlse the arnount going to charity Irom the sale of Chrislrnas cards. All ¢Jonated cards are sold in aid of a particular b8neficiary charty or class of chaiilies and the &mnI paid to the chariti8S is C81cuL4ted a5 a p8rcenlag8 of Ihe sale proceed5. This amount of the sale proceeds is shown atKJve as restricted incorne. Pffje16 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 CHARITABLE ACTivmES COSTS Grant funding of aclivitEs (see note 61 Support IX151s15ee note 71 Dir8Ct Costs To18ts G( Gifts UK Disaster Relief Advi50ry Service Dirgct awards prcyjramrne Card Aid Peace projects Other 119.232 1,749 2.623 3.061 2.623 137.334 1,054 6.562 1.313 298.$03 $0.042 551 1.145 1.337 1.14S 54,431 21,392 3,077 573 4fj7,777 2,300 3,768 44.122 3,768 191,765 22,446 9,639 39.724 PrO1t Devgbpmgnt 338 227 133693 747 471 Oelails ol Support costs and GovwTranc6 cthts are in Nole 7. UK Dlsastèr Rèlièf IUKDRI is on inlliativè ol th• Charity aimèd at rAislng funds for pr8etkal 8ssistAneè in the event of a UK ¢Yisa$ter. It has been e8tsblished as a separate Charitab company, reglslered charity number 1136164 and regislereil company number 07104828. The costs included above relate lo an allocation of staff costs. repwesenliThJ lime spent by Chanty slaff on UKDR affalrs. Direct Costs lor Card Aid, Training. GOLYJ Grfis, Pt8e8 Projtets and thè D*•ct awards progr8mrnè, Ineludè 9rants payable which are detsijed in Note 6. GRANTS PAYA8LE 2023 2022 GcM)d Gifts Oirect awards rwramme 298.503 339,456 338,227 354.976 GoDd Gttt5 payrnents Telate to donat$ by indNIUs1$ and tY)Mpan passed on to goDd c8U5es chosen by them from a c8talogu8 (see Nol8 19 for rnore delailsl. Payments are rnade iwice yeady. The amoun¢ shown as Direct awards Fryramme represents fvnds dona¢ed by indivKJuals paid lo charities of their choi (see Note 191. All grants w8rg mad8 to instriutN)n5. Pffje17 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 SUPPORT COSTS (>)veman¢e costs Totals GcYJd Gift5 UK Disaster Relief Advisory Servic8 Diract awards programme Card Aid Peace projects Other IT Project Devek)pment 47,347 510 1.083 1.265 1,083 51,500 20,240 2.923 2.695 41 62 72 50,042 551 1,145 1,337 1,145 54,431 21.392 3,077 573 2.931 1.152 154 31 126493 133 693 Support costs have been 8PPOrtw¢d to 8CtivNi¢$ proporbon8t?ly to Staff on thos¢ livI1a$. NET INCOMEIIEXPENDITUREI Nèi irnCCmellèxwndrtur•l is slated after charginWlcre(litingl". 2023 2022 Aurjitors, remtsneration Depreeiaiion . owned assets Surplus on dlsptss81 offix8d ats 7,200 17,794 6.550 17,650 4,2501 TRUSTEES. REMUNERATION AND BENEFITS The were no truslees. MUneral or other benefits for the year ended 30 June 2023 nor f¢x the year 8nded 30 June 2022. Tru51e85' •xpen5es There were no Injslees. expenses PaKI r(x Ihe year en¢Jed 30 June 2023 nor for the year ended 30 June 2022. Pffje18 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 10. STAFF COSTS 2022 2021 W8ge5 and s8lari8s Social security costs Other pension costs 221.909 28.386 4.997 226,279 18,949 25.099 255.292 270.327 Th8 8ver8ge number ol empby8es during th8 year wa5 712022.. 61. The average Week number of empbyees, ¢8lrJJl8led as lull lime gquivaknb, during the Pgriod was.. 2023 2022 Card Aid IT G¢xMY Gifts Direct Aid Advisory & Ethics Peace projec¢s Project Devebpment UK Disaster Relief Support and govèmarte 0.06 0.13 0.01 1.91 0.06 0.03 2.73 0.07 0.06 2.02 0.03 0.04 0.96 0.03 0.73 The salary of Ihe Dlrector arnwnted to £78,4CKJ for the ye¥12022 - £78,4001. In additlon she was due pension contributs'ons amounting lo £19.60012022- £19.6001. Two employee5 received total 8molumenls, exduditvJ empknyer pension conlribulior15, in 8xc8S5 01 £60,000. ont within tha band t70.000- £80.000 and onè within thè band £.000-£100.0D0. Pension costs repwent contributicffis payabk by Ihe Charity for elgibb Slaff to ftJnd$ chosen by the indfviduals ¢akuk21ed. for most staff. al 6% of annual Saries. The Chanty has no commitments beyond these regular contributxjns. AJI olher staff are enrolled in NEsfs defined contribution scherne. Pffje19 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Un$¢ted nds Restricled funds Total funds INCOME ANO ENDOWMENTS FROM Donations and legacies 637,102 637,102 Charltobl• a¢ts"vtti$ Tumover Irom purchased gocxjs Tumover Irorn donated goods Other income 1.181 15.850 31.427 13,940 15.121 15.850 31,427 Invesimenl income Other income 10.736 4.250 10.737 4.250 Total 714.487 EXPENDITURE ON Charltable activltles Gooo Gifts UK Disaster Relief Advlsory Servic8 Diroct awards prc3ramrnè Card Aid Peace prolecls Other 505,454 505.454 1.014 1.539 18.586 258 180.098 19.129 37.750 1.014 1.539 3,066 15,520 258 177,112 2.986 19.129 3T.750 Totol 763 828 Net gainsllloss•$l on invèsbn$nts 173.131 173 131 NET INCOhlEIIEXPENDThUREI 1175.1711 31.1951 147.3011 1222.4721 Tr8nsfer5 betwoen lunds N•t movement In funds 12t%,3661 116,1061 1222,4721 RECONCILIATION OF FUNOS Totsl funds broughi lorward 2.327.559 691,049 3,018,608 TOTAL FUNDS CARRIED FORWARD 2.121.193 e74.943 2,796.136 Pffje 20 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 12. TANGIBLE FIXED ASSETS Fixtures and fitlings Motor vehicle5 Totals COST At 1 July 2022 Additions Disposals 179.693 24.524 204,217 At 30 Jun8 2023 180.242 17.225 197467 DEPRECIATION At 1 July 2022 Charge for year Eliminated on disposal 127,630 14.$43 138,812 17.794 7.2991 3.251 7.2991 AI 30 Juna 2023 142 173 149 307 NET BOOK VALUE AI 30 June 2023 10,091 At 30 June 2022 52,063 13,342 65.405 13. FIXED ASSET INVESTMENTS Llsted Investments MARKET VALUE Al 1 July 2022 Net invèstment gainlllossl 1,827.002 At 30 Jur 2023 1861031 NET BOOK VALUE At 30 June 2023 1 B61 031 At 30 June 2022 1827 002 There were rKJ inve$InnI assets crtrtgde Ihe UIQ The historical cost ol investrnents as 41 the year-end was £1,607,73212021.. £1,207,732). The inve51rnents indude a 5harehokliro in Standard Lrfe a y8ar end value of £4,17712021.. £7,081). Other invesln*nts o)mpnse of tsnil trusts. Pffje21 ntinued...
THE cHARlEs ADVISORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 14. DEBTORS: AMOUNTS FALLING DUE VIITHIN ONE YEAR 2023 2022 Trade debtor5 Due from Chri5trn85 Card Sch8m Limited Gift Aid lax re(x)verabl8 VAT Prepayments 80,224 50.405 27 207.575 13.885 22.949 239.929 4.989 348.524 294.841 15. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditor5 Soci218ecurity and other taxes Other creditors Accruals Deferred Iralning irKom6 (Noie 161 6.929 4,231 9.325 22.808 12,817 3,260 9,488 77,025 103.235 Deferred Ineom• Deferred training income, representiThJ fees recewed in Ihe year for courses, for the folowinG year, eompnses the folowing., 2023 2022 Balancè at 1 Juty 2022 Add.. Deferred training 1Corn8 arising in th8 ye8r Lass.. Rdeas$d in tha y88r 8818ncè at 30 Junè 2023 68,418 645 68.148 645 645 Pffje 22 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 17. LEASING AGREEMENTS 2023 53,272 2022 53,000 Within 1 Y88r 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 Total tund$ 2022 Total fuThds Unreslncled fvnds Reslric18d fuThds Fixed assets Investm8nls Currenl as56ls 48,160 1,839,702 125,562 48,180 1.861,031 763,946 65,405 1,827,002 1,006.964 103 2351 21,329 838,384 25 9781 1.965.464 663 735 2.796.136 Pffje 23 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 19. MOVEMENT IN FUNDS Net movement in fur¥J5 Transfers between funds At 30.6.23 At 1.7.22 Unrestrlcted funds General fund Working Capital Property Flexible endowment Revaluation reserve Ethics of Chanlable Giving GcM)d Gifts Monitoring Computer and IT Upgrarje Publications Knil for Peaco Middl¢ East Knit for Peace Working Caprtal Knilling as Team Building for Compan$ 49.958 200.000 103,000 1.150.000 201.833 2S.000 23.400 20,000 25.000 60,000 203.000 60,000 1340.4431 330.687 40.202 200.000 45,000 1,078,000 235.862 158,0001 172.0001 34.029 125.0001 23,400 20,000 125,0001 60.000 203,000 2.121.191 1306,4141 150.687 1,965,4fj4 R¢strScted funds Card Aid Charity Direct GcM)d Gifts- charftable gifts Good Gifts- running ¢osl$ Knit for pgace 127.902 190,333 356,710 278 41.049 13.7991 62,611 12781 127,902 231,382 304,451 148,4601 162.6111 139477 663 735 TOTAL FUNDS 2629 199 Pffje 24 ntinued...
THE cHARlEs ADVISORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 19. MOVEMENT IN FUNDS- continued Nèl movement in lur¥Js. included in the aL*)ve as follcv•ts." In(y)ming r8sources G8in8 8nd losses Movem8rit in funds expended unrestr1ct funds General fund Revaluation reserve 51,498 1391,9411 1340,4431 34,029 34.028 51,WJ9 1391,9411 34,028 1306,4141 R•sirletsd lund$ Card Aid Charity Oireet Good Gifts- charitabl8 9ifts GCKMY Gifts- running costs Knit lor peac• 278 80,773 294.704 67,239 52,013 278 41,049 13.7991 62,611 139,7241 1298.5031 14.6281 12 6751 355 530 139477 TOTAL FUNDS 546.506 747 4711 166 9371 Pffje 25 ntinued...
THE cHARlEs ADVISORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 19. MOVEMENT IN FUNDS- continued ComparaUve$ for movement In funds Net movement futKis Tran5fer5 between funds At 30.6.22 At 1.721 Unrestrleted lunds General fund Working capital Property Flexible èndowment Revaluation reserve Ethics of Charitable Giving Good Gift5 Monitoring Computer and IT Upgrade Publications Knil lor Peace Middle Easi Knii for P8aeè Working C8WI Knitting as T8am 8uildiThJ for Componvas 83.195 2(A),000 103.0(K) 730.000 374.964 395.000 23.400 70.0(KI 25.000 60.000 203.0) 60.000 12,0421 131,1951 49.958 200,000 103,000 1.150.000 201.833 25.000 23,400 20,000 25.000 60.000 203.000 420.0 1173.1311 1370,0001 1S0,0(X)I 2.327.$59 1175.173 31,19SI 2,121.191 R•81rletsd lunds Card Aid Charity Oirect GcK¥J Gifts- charitable gifts G¢xMY Gifts- runnlng Costs Knil for peace 128.319 141,644 373.127 12561 49.574 48.631 197.2891 127,902 190,333 356,710 18851 165,0481 97,289 691.049 47.299 31.195 674.945 TOTAL FUNDS 3 018.608 222 4721 2 796 136 Pffje 26 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 19. MOVEMENT IN FUNOS- contlnued Comparative n81 nJ)vement in funds. #Kluded in the above are as foll)ws: Incoming rgsources Re50ur expended Gains and Ios5e$ Movement in funds Unr•$lrl¢t¢d funds General fund Revaluation reserve 63,444 165,4861 12,0421 173.1311 173 1311 165.4861 1173,1311 1175,1731 R•$trl¢t•d lunds Carrj Aid Charity Oirect Good Gifts- eharilabl& gifts Good Gifts- running costs Knit for p8a 12581 115.5201 1339.3561 1166,0961 177.1121 12561 49,574 48.631 197.2891 47.9591 65.094 387.987 68.807 129.153 698.342 TOTAL FUNDS 714.487 763.8281 173,1311 222.4721 The Direclorfs hope lo set asKle time to wrile a guwje on the Ethics of charitab giving. is unlikely to be r8alised because of pressure of woth. Good Gift5 rnonitorirg- a prOvisn for travel costs to rnonitor proi8Ctslgrants. The sum of £20,000 has been designated for fulure ccxnputer and IT and websit8 upgrades. PubatIs- Due to changes In cwcumslances aThJ rlsiThJ cthts our publlcab.on plans have been set aslde. Knit for Peace in the Middle East was launched in Der£mber 2018. The 8urn of £60,000 has been sel aside for planned expansion into Jordan 8nd the West Bank. A visit lo the'Knil 8 Communily Conventions In Israel was cancelled due toll health. Th8 Charity has working capital requirernenls. Howevgr, wih an adjust•d focus on Knit for P08¢8, tha workirvJ caprtal fund has been reduced in rec8nl years. Property- Repairs to Ihe roof have been carried out and 8 r*w Sky Ih¢ has been instsId. Following the flood damage at Radius WoTks the insUr$ ae to pair the drains. and to re-carpel and re-decorate th8 9round Iloor. W8 have adjusted th8 re58wves accordingty. We stsll Intend to r8-ti18 th8 nstairS toileL In 2002, the Trustees decided lo establish a FXible endowment fund to enable grants to be made when suitable projects carne to their atterntn. In 2010, the FXIb end(ment fijnd has been used as a buffer to underwrite some of the restricted lunds Whe payouts were greater than the fun¢ balance. The trustees folt sinc6 we had resowv6s rt was bètter to use them to protect our beneficianas, hard hrt by recession, rather than set Ih8rn adrift. Pffje 27 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 19. MOVEMENT IN FUNDS- continued As exalThed in Note 4. part ol the sales prcKee(Is ofdcnated r<I$ tt)rough the Card Aid scheme is payabl to named benefioary charitie5 orcla5ses of chaTilie5. M0510l the arnounts payable from the C3rd Fund are distributed in Febwary or March after Ihe end of the C8rd Season bul Some funds for specified causes (rather than for specif charities) ar8 distributed throughout the y8ar in accordance with the Charity's gran¢-making policy. Any SLKh amounts not spent by the year-end are carried fotward for dislributs.on in the following fina1?1 year. The purpose ol Charity Oirecl 15 to encourage tax-effeclive gwing Ihrough Gift Aid donation5 frorn IndIdual5. Th8 arnount5 donated ar8 expended for tharitablg purposes al th8 instructions ofthe indivlduals c¢wcern8d. The Charity Dire¢l fvnd is also usgd lo channel other donations to good causes. The GOCNJ Grfts scheme enurage$ dc¥)al¥)ns lo a selectN)n of sp8ufic tharitable purposes. G8nerally, the donatnS are passed on to a charity bul the Charrties Adv150ry Trust itseff takes direel rèsponsibility for some of th• projects. This income. and thè eorrespondin9 payments lo charilles. arè shown above as Good Gifts- charitsbK8 gffts. G¢Jod Gifts payments a made tr4ice yearly. There are also administrative Costs assooaled with Ihe Gwd Gifts scheme, and these are shown abovè as Good Gifts - running cosis. The Charity charges a small postage anL1 packing lee lor Good Glfts overseas orders and orders b81ow £25. Donors ar8 encouraged lo make a Gift declaration lo enabl tax lo b8 reclairned, helping cover the runnin9 costs of the stheme. Th8corresponding r850urc85 expended are part of the running Costs of the scheme. There was a transfer of £62.611 out of this reserve al the year 8nd, which includes £26.516 lor Ihe cost ol delivenng projeds and for Knit for Peace income received through Good Glfts. aThJ £21.944 whieh was commisSTh charged on all grts to compensate the car paymèni fèès and intémakn'onal transfèr eosts. Thè r•mainirrfJ drfftrèrtè rèprèsènts a Contribution lo thè overheads of the chanty. Knittlng as team bulldSng lor o)ffynles - are ty.ng lo eno)urage companies lo use knilllng days for team building. The balance in the RevaluatK)n reserve 15 c8kul8ted as the exces5 of the value of inve5trnents over the historical cost {the was no excess al 30 June 20101. The SerVe is presented tiy tha¢ part of the investments. RELATED PARTY DISCLOSURES David Russell, a Trustee at the Charity, 1$ a rx)n$uhanl al SURF. Ouring th8 year grants totalling £53,100 12022.. £92.6451 were made lo SURF to help fund the SURF Rwanda livelhoods. Iivesto¢k and education projects. Charities Advisory Trust has supported SURF since befo David's appointment as Trustee. and h8 has no invoernenl in th8 donations made to SURF. Pffje 28 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 21. GREENWAY HOTELS PRIVATE UMITED The Chanty has a subsidiary called Greenway Hotels Pnvate Limi. a company wiSted in India. established lo preserve hi51oric buildings by refulshI9 Ihern for su51ainable use in tourist ventures. The company's first project w85 8 historic Pala in My5LYe- the Chittsranjan P81ace- which is now run, 8S the Green Hotel, as a demonstration project showing how tourism ventures can be run on a non-expbitatlV8 basis and Can benefit empbyees. the local community and visitors. Profits earned are distsibuled for charitable and enwronmental purposes in India. These 9rants are mad8 OLrt of profits bèfore the @nd of the year. In past years the Charily has made gianls lo company lo ienovate the palace and maintain its labrfc. Consolidatsd accounts have not been prepa in respect of lh8 subsNYiary company as 8xplained in Note 1. The results of the cnmpany for Ihe year ended 31 March 2023 were as folows.. 2023 RsThO 2023 2022 RS'OOO 2022 Tumover Less." Operaling CKJS 31.359 29.2741 308.775 2,959 29,139 77 3081 2.085 20,528 14,8921 148,1691 Taxalion Loss lor thè yèar 19,331 48 1691 Profit and Ioss 8ceount: Al start of year Profiullossl for year Exchange Oifferences 116.3661 1,963 1161.1511 19,331 111.4741 14.8921 1113,3751 148,1691 393 Al end ol year Share Capital 114.4031 8.997 1141.8191 88.585 116,3661 Total capftal and reserves Assets Ond liabilities.. Total assols Less.. total liabilrti85 10.562 15.968 103.99S 157.229 7,191 14,5601 70,802 143 3681 5,4( 53.234 72 566 Pffje 29 ntinued...
THE cHARlEs ADWSORY TRUST Notes to the Financial Statements . continued for the Year Ended 30 June 2023 CORPORATION TAX As a registered chanty there is no liabilty to tax on Ihe inlerest received. The Charity is Irdble to tax on its trading activities bul after laking into accnI the Trotional market value of the donated goods and the nolional cost of volunteer5 in the Card Aid shops 8nd olfver don8ted services there are tax losses. Page 30