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← The Charities Advisory Trust

2024-06-30-accounts

Company Number: 02895760 Charity Number: 1040487

The Charities Advisory Trust Report and Audited Financial Statements For the Year Ended 30 June 2024

The Charities Advisory Trust Financial Statements For the year ended 30 June 2024

CONTENTS

Page
Reference and Administrative Details 1
Trustees’ Report 2
Independent Auditors’ Report 7
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cashflows 12
Notes to the Financial Statements 13

The Charities Advisory Trust Reference and Administrative Details For the year ended 30 June 2024

Company Number 02895760 (England and Wales)
Charity Number 1040487
Registered Office Radius Works
Back Lane
Hampstead
London
NW3 1HL
Board of Trustees D Russell
Ms L M Mactavish
Ms R Dunn
Company Secretary Dame H S B Blume
Auditor Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD

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The Charities Advisory Trust Trustees’ Report For the year ended 30 June 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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 activities:

Public benefit

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 disadvantaged, except where, for example with tree planting, there is general benefit to the community. Our support for art projects is largely to provide access to the arts for those under 18. Support for medical research we take as potentially benefitting all sections of the community.

Grantmaking

Most of our grant making is through funds raised through the Good Gifts Catalogue. Applications for funding for individuals are rarely, if ever, successful. We work with charities with whom we have developed a programme to deliver the outcomes we seek.

ACHIEVEMENT AND PERFORMANCE

Activities, achievements and performance

The economic climate continues to make everyone cautious about spending and this impacts on giving to all charities.

Card Aid

For over 40 years the Trust produced and marketed charity Christmas cards. The high cost of postage, the unreliability of the mail, the ease of sending e-cards or, for the young, text messages; all continue to erode the market. Therefore, we no longer produce new cards, but we continue to market and sell remaining stock. Sales are now negligible.

Good Gifts Catalogue

For Good Gifts, we noticed people continued to buy less expensive gifts and spend less overall. However, it continues to enjoy the support of a loyal customer base, who turn to it responsible gifting year after year.

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The Charities Advisory Trust Trustees’ Report For the year ended 30 June 2024

Knit for Peace

Knit for Peace is a major part of the Trust's work. It has grown in response to the demands of both knitters and those needing warm clothes, 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 40,000 volunteers in the UK donating their knitting to those in need.

We held a successful holiday in Mysore in January 2024. Many of the participants had been on the holiday before and expressed a wish to return a gain in the future. We wish to give a special thank you to Carol Meldrum who generously led the knitting and crochet classes.

We were honoured to be chosen once again, as the charity of the year by People's Friend Magazine, which brought Knit for Peace to an even wider audience.

We would like to express our thanks to our wonderful volunteers who are worth more their weight in gold. Tribute should be paid to the staff, who work hard to meet the success of Knit for Peace.

Fundraising Policy

During the year, Charities Advisory Trust did not make use of any consultants or external professionals to undertake its fundraising activities. Additionally, no data was shared with, or sold to, any external agencies. We did not undertake direct mail shots, send any unsolicited newsletters or approach any vulnerable individuals to support our work. A complaints policy is in place, but we received no complaints during the year about any of our fundraising activity.

FINANCIAL REVIEW

Investment policy and performance

The Charity's investments are designed to meet the Trustees' wishes for environmental, social and ethical investment. The Trustees continue to monitor the performance of these investments closely.

Reserves 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 circumstances has proved wise.

Our reserves, built up over the years, and declining since about 2008, give a more cheerful view of our finances. Our income has been declining (because of the decline of Card Aid).

At the year end, general reserves stand at £91,490 (2023: £40,203), whilst Designated reserves are £1,871,531 (2023: £1,925,262) and Restricted funds are £607,908 (2023: £663,734).

Knit for Peace is incredibly worthwhile, both in providing warm clothes and blankets to those in need, which shows them they are not forgotten and valued. More than that, Knit for Peace is enabling people of all backgrounds to continue to feel useful and overcome the isolation and powerlessness of old age, as well as enjoying the yield of the positive impact from the proven health benefits of knitting which include stress reduction, improved mental health and even slowing the onset of dementia, by promoting a sense of calm, accomplishment, and social connection. We are determined to continue the project, but do not want to do so to the exclusion of our other activities.

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The Charities Advisory Trust Trustees’ Report For the year ended 30 June 2024

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 promoting the health benefits of knitting through Knit for Peace, as well as peace and reconciliation through our Knit for Peace initiative in the Middle East and shall continue to invest in improved IT systems.

Endowment Fund

We are planning for an expected decline in income, we expect to draw upon our reserves to fund our work and worthwhile grants.

During the pandemic the trustees took the decision that priority should be given to those we help, rather than conserving our resources. Whilst our income dropped both for Knit for Peace and the Good Gifts Catalogue, our existing supporters remained loyal.

FUTURE PLANS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is registered as a charitable company limited by guarantee and is governed by its memorandum 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 currently the same as the Trustees. The Charity sees no need to have a policy on the recruitment, induction and training of Trustees.

Organisational structure and decision making

The founding Director, Dame Hilary Blume, is responsible to the Trustees for the day-to-day management of the 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 itself on being a learning environment. It should be noted that the Trust has a strict policy on paying graduate interns, which it believes provides opportunities for those not subsidised by their families nor the State.

Key management personnel

The key management personnel of the Charity are those persons having authority and responsibility for planning, directing and controlling its activities, directly or indirectly, including any Trustee of the

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The Charities Advisory Trust Trustees’ Report For the year ended 30 June 2024

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 Private Limited, are given in Note 21 to the accounts. The company was established in pursuit of the Charity's object of preserving buildings of architectural merit and its primary activity is currently the running of the Chittaranjan Palace in Mysore as a hotel (the Green Hotel) in order to preserve it. Following the hotel’s closure during the pandemic, the charity delegated the day to day running of the hotel to a group of investors who financed the re-opening of the hotel. The agreed profits due to the Charity from future trading are given to charitable and environmental projects in India.

Risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems are in place to mitigate the exposure to the major risks. Our resilience during the pandemic pays testament to the organisation's judicious planning.

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees (who are also the directors of The Charities Advisory Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible 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 trustees are aware:

AUDITORS

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The Charities Advisory Trust Trustees’ Report For the year ended 30 June 2024

The auditors, Knox Cropper LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

27th March 2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.................................................................... UL oe ) \ ~~. SV \

D Russell - Trustee

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The Charities Advisory Trust Independent Auditors’ Report For the year ended 30 June 2024

Opinion

We have audited the financial statements of The Charities Advisory Trust (the ‘charitable company’) for the year ended 30 June 2024 which comprise the Statement of Financial Activities (including the Income and Expenditure Account), the Balance Sheet, statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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The Charities Advisory Trust Independent Auditors’ Report For the year ended 30 June 2024

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are Required to Report by Exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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The Charities Advisory Trust Independent Auditors’ Report For the year ended 30 June 2024

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Richard Billinghurst (Senior Statutory Auditor) For and on behalf of Knox Cropper LLP (Statutory Auditor) 65 Leadenhall Street London EC3A 2AD

Date:

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The Charities Advisory Trust Statement of Financial Activities (Including the Income and Expenditure Account) For the year ended 30 June 2024

Note
INCOME AND EXPENDITURE
Income from:
Donations and Legacies
2
Charitable Activities
4
Turnover from purchased goods
Turnover from donated goods
Other income
Investment Income
3
Total Income
Expenditure upon:
Charitable Activities
Good Gifts
UK Disaster Relief
Advisory Services
Direct Awards Programme
Card Aid
Peace Projects
IT
Project Development
Other
Total Expenditure
5
Gain/(loss) on revaluation of investments
Net Income/(Expenditure)
Transfers between funds
15
Net Movement in funds for the year
Net funds at 1 July 2023
Net funds at 30 June 2024		 Unrestricted
Funds
£
2,601
-
-
30,198
18,673
51,472
102,342
7,847
11,770
14,253
1
73,459
-
5,364
239
215,275
144,269
(19,534)
17,090
(2,444)
1,965,465
1,963,021		 Restricted
Funds
£
274,442
1,578
37,505
-
-
313,525
237,906
-
-
7,567
-
106,788
-
-
-
352,261
-
(38,736)
(17,090)
(55,826)
663,734
607,908		 Total
Funds Year
Ended
2024
£
277,043
1,578
37,505
30,198
18,673
364,997
340,248
7,847
11,770
21,820
1
180,247
-
5,364
239
567,536
144,269
(58,270)
-
(58,270)
2,629,199
2,570,929		 Total
Funds Year
Ended
2023
£
454,113
7,665
33,740
36,483
14,505
546,506
467,777
2,300
3,768
44,122
3,768
191,765
9,639
1,886
22,446
747,471
34,028
(166,937)
-
(166,937)
2,796,136
2,629,199

The notes on pages 13 to 26 form part of these financial statements.

All activities derived from continuing operations in each of the above two financial periods.

All recognised gains or losses are included in the above Statement of Financial Activities.

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The Charities Advisory Trust Balance Sheet For the year ended 30 June 2024

2024 2023
Notes
£ £
Fixed Assets
Tangible Assets 11 32,027 48,160
Investments 12 2,005,300 1,861,031
2,037,327 1,909,191
Current Assets
Debtors 13 279,701 348,524
Cash at bank and in hand 368,523 415,422
648,224 763,946
Creditors: Amounts falling due within one year 14 (114,622) (43,938)
Net Current Assets 533,602 720,008
Total Assets Less Liabilities 2,570,929 2,629,199
Funds
Restricted 15 607,908 663,734
Unrestricted
Designated funds 15 1,871,531 1,925,262
General funds 15 91,490 40,203
2,570,929 2,629,199

The notes on pages 13 to 26 form part of these financial statements.

The financial statements were approved by the Board and authorised for issue on _____2025 and 27th March signed on its behalf by:

Name: ___ David Russell Trustee

Company Registration Number: 02895760 Registered Charity Number: 1040487

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The Charities Advisory Trust Cash Flow Statement For the year ended 30 June 2024

Notes
Net cash (used in)/provided by operating activities
17
Net cash (used in)/provided by investing activities
18
Net change in cash and cash equivalents in the period
Reconciliation of net cash flow to movement in net cash
Movement in net cash in the period
Net cash and cash equivalents brought forward
Net cash and cash equivalents carried forward		 Year Ended 30
June 2024
£
(65,572)
18,673
(46,899)
(46,899)
415,422
368,523		 Year Ended 30
June 2023
£
(310,656)
13,956
(296,700)
(296,700)
712,122
415,422

The charity has not provided an analysis of changes in net debt as it does not have any long-term financing arrangements.

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

1 Accounting Policies

Basis of Accounting

The financial statements have been prepared under the historical cost convention (with the exception of investments measured at fair value) and in accordance with the accounting policies set out in the notes to the financial statements. The financial statements comply with the charity’s governing document, the Charities Act 2011, the accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102 second edition – effective from January 2019).

The Charity is a Public Benefit Entity as defined by FRS102. The financial statements are prepared in Sterling, which is the functional currency of the Charity.

Going Concern

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity’s ability to continue as a going concern.

Consolidation

As explained in Note 21 the Charity has a subsidiary in India, Greenway Hotels Private Limited. Under Indian law assets of the subsidiary are not permitted to 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 group accounts. The subsidiary is regarded by the Charity's Trustees as an independent project and it is administered by a separate board of directors, all Indian nationals except for the Charity's Director.

Income

All incoming resources are shown net of VAT where applicable. Donated goods for sale are recognised in the Statement of Financial Activities as they are sold. Donated services are only recognised to the extent that they are material and reasonably quantifiable and measurable; in particular non-professional services from volunteers are not recognised. All trading activities are undertaken in furtherance of the Charity’s objects, including assisting other charities with their fundraising through Good Gifts. Training income is recognised in the period in which the training event took place; where income for a training event is received prior to the event taking place, the income is deferred to the correct financial period. Income tax recoverable in relation to investment income or Gift Aid donations is recognised at the time the relevant income is receivable.

Expenditure

All expenditure is accounted for gross, and when incurred. Direct charitable expenditure includes the direct costs of charitable activities and depreciation on related assets. Where such costs relate to more than one functional cost category, they have been split on an estimated time basis for the staff concerned. Support costs comprise those costs incurred centrally in support of the Charity's activities, including Governance costs, and have been apportioned to activities in proportion to the total costs of those activities. Governance costs are those associated with meeting the constitutional and statutory requirements of the Charity and its strategic 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 expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Tangible Fixed Assets

Individual fixed assets costing more than £500 are capitalised at cost.

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows:

Furniture and equipment - 5 to 6 years Motor vehicles - 5 to 10 years

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund Accounting

The General fund comprises unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund, and the basis of transfers to or from them, are set out in Note 19.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity 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 liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the net income/(expenditure).

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 independently administered funds chosen by individual staff. For eligible staff, contributions payable for the year are charged in the Statement of Financial Activities. Since April 2016, The Charity has enrolled all new staff in Nest's defined contribution Workplace Pension Scheme.

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently valued at their settlement value.

Judgements and key sources of estimation uncertainty

Judgements and key sources of estimation uncertainty are detailed in the above accounting policies where applicable.

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

2 DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Charity Direct Donations
Good Gifts Donations – Gifts
Good Gifts Other Income
Knit for Peace
Other
Total Income from Grants and Donations
Income from Grants and Donations 2023		 Unrestricted
Funds
£
-
-
-
-
2,601
2,601
789		 Restricted
Funds
£
1,310
216,763
44,280
12,089
-
274,442
453,324		 Total
2024
£
1,310
216,763
44,280
12,089
2,601
277,043
454,113		 Total
2023
£
80,773
294,704
59,574
19,062
-
454,113

The Good Gifts scheme encourages donations to a selection of specific charitable purposes described in a catalogue. The donor is also encouraged to make a Gift Aid declaration and donate this Gift Aid towards the scheme's running costs. The resulting income is the main component of the Good Gifts other income shown above. The donor receives literature associated with the donation for which they are charged postage and packaging. Although this scheme generates a significant amount of voluntary income all costs of administering the scheme are included as part of the cost of Charitable activities. Details of grants given under the scheme are shown in Note 6.

3 INVESTMENT INCOME

3 INVESTMENT INCOME
Dividends
Bank Interest Receivable
Total Income from Investments
Income from Investments 2023
4 INCOME FROM CHARITABLE ACTIVITIES
Turnover from Purchased Goods
Turnover from Donated Goods
Other Income
Income from Charitable Activities 2023		 Unrestricted
Funds
£
13,257
5,416
18,673
14,505
Unrestricted
Funds
£
-
-
30,198
30,198
36,205		 Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
1,578
37,505
-
39,083
41,683		 Total
2024
£
13,257
5,416
18,673
14,505
Total
2024
£
1,578
37,505
30,198
69,281
77,888		 Total
2023
£
12,053
2,452
14,505
Total
2023
£
7,665
33,740
36,483
77,888

Details of the Good Gifts Scheme are given in Note 15.

Donated cards are sold through the Charity's websites. The object of the Card Aid initiative is to maximise the amount going to charity from the sale of Christmas cards. All donated cards are sold in aid of a particular beneficiary charity or class of charities and the amount paid to the charities is calculated as a percentage of the sale proceeds. This amount of the sale proceeds is shown above as restricted income.

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

5 CHARITABLE ACTIVITIES COSTS

ARITABLE ACTIVITIES COSTS
Good Gifts
UK Disaster Relief
Advisory Services
Direct Awards Programme
Card Aid
Peace Projects
IT
Project Development
Other
Total Expenditure		 Direct
Costs
£
67,335
3,452
5,178
6,271
1
88,485
-
2,360
174
172,256		 Grants
Payable
(Note 6)
£
192,048
-
-
7,567
-
-
-
-
-
199,615		 Support
Costs
(Note 7)
£
80,865
4,395
6,592
7,982
-
91,762
-
3,004
65
194,665		 Total
2024
£
340,248
7,847
11,770
21,820
1
180,247
-
5,364
239
567,536

Comparative Resources Expended

Good Gifts
UK Disaster Relief
Advisory Services
Direct Awards Programme
Card Aid
Peace Projects
IT
Project Development
Other		 Direct
Costs
£
119,232
1,749
2,623
3,061
2,623
137,334
6,562
1,313
1,054
275,551		 Grants
Payable
£
298,503
-
-
39,724
-
-
-
-
-
338,227		 Support
Costs
£
50,042
551
1,145
1,337
1,145
54,431
3,077
573
21,392
133,693		 Total
2023
£
467,777
2,300
3,768
44,122
3,768
191,765
9,639
1,886
22,446
747,471

Details of Support costs and Governance costs are given in Note 7.

UK Disaster Relief (UKDR) is an initiative of the Charity aimed at raising funds for practical assistance in the event of a 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, representing time spent by Charity staff on UKDR affairs.

Direct costs for Card Aid, Training, Good Gifts, Peace Projects and the Direct awards programme, include grants payable which are detailed in Note 6.

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

6 GRANTS PAYABLE

ANTS PAYABLE
Good Gifts
Direct Awards Programme
Grants Payable 2023		 Unrestricted
Funds
£
-
-
-
-		 Restricted
Funds
£
192,048
7,567
199,615
338,227		 Total
2024
£
192,048
7,567
199,615
338,227		 Total
2023
£
298,503
39,724
338,227

Good Gifts payments relate to donations by individuals and companies passed on to good causes chosen by them from a catalogue or online (see Note 15 for more details). Payments are made twice yearly.

The amount shown as Direct awards programme represents funds donated by individuals paid to charities of their choice (see Note 15).

All grants were made to institutions.

7 SUPPORT COSTS

Good Gifts
UK Disaster Relief
Advisory Services
Direct Awards Programme
Card Aid
Peace Projects
IT
Project Development
Other		 Other
£
77,655
4,220
6,330
7,666
-
88,121
-
2,885
62
186,939		 Governance
£
3,210
175
262
316
-
3,641
-
119
3
7,726		 Total
2024
£
80,865
4,395
6,592
7,982
-
91,762
-
3,004
65
194,665
 Other
47,347
510
1,083
1,265
1,083
51,500
2,923
542
20,240
126,493		 Governance
£
2,695
41
62
72
62
2,931
154
31
1,152
7,200		 Total
2023
£
50,042
551
1,145
1,337
1,145
54,431
3,077
573
21,392
133,693

Support costs have been apportioned to activities proportionately to staff costs on those activities.

17 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

8 NET MOVEMENT IN FUNDS

This is stated after charging:

Depreciation of fixed assets
Auditors’ remuneration		 2024
2023
£
£
16,133
17,794
7,726
7,200

9 STAFF COSTS AND NUMBERS

Staff costs were as follows:

Salaries and Wages
Social Security Costs
Pension Costs		 2024
£
202,423
8,490
4,646
215,559		 2023
£
221,909
28,386
4,997
255,292

The salary of the Director amounted to £78,400 for the year (2023 - £78,400). In addition, she was due pension contributions amounting to £19,600 (2023 - £19,600).

Two employees received total emoluments, excluding employer pension contributions, in excess of £60,000, one within the band £70,000 - £80,000 and one within the band £90,000 - £100,000.

Pension costs represent contributions payable by the Charity for eligible staff to funds chosen by the individuals calculated, for most staff, at 6% of annual salaries. The Charity has no commitments beyond these regular contributions. All other staff are enrolled in NEST's defined contribution scheme.

10 TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.

18 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

11 TANGIBLE FIXED ASSETS

Cost
At 1 July 2023
Additions
At 30 June 2024
Depreciation
At 1 July 2023
Charge for the year
At 30 June 2024
Net Book Value
At 30 June 2024
At 30 June 2023		 Fixtures
and
Fittings
£
180,242
-
180,242
142,173
12,963
155,136
25,106
38,069		 Motor
Vehicles
£
17,225
-
17,225
7,134
3,170
10,304
6,921
10,091		 Total
£
197,467
-
197,467
149,307
16,133
165,440
32,027
48,160

12 FIXED ASSET INVESTMENTS

DEBTORS
Trade debtors
Other debtors
Gift Aid Recoverable
VAT
Prepayments
Market value brought forward
Additions
Disposals
Unrealised gain/(loss) on investment
Historical Cost		 2024
2023
£
£
64,992
80,224
9,164
-
181,656
239,929
786
4,989
23,103
23,382
279,701
348,524
2024
2023
£
£
1,861,031
1,827,002
-
-
-
-
144,269
34,029
2,005,300
1,861,031
1,607,732
1,607,732		 2024
2023
£
£
64,992
80,224
9,164
-
181,656
239,929
786
4,989
23,103
23,382
279,701
348,524
2024
2023
£
£
1,861,031
1,827,002
-
-
-
-
144,269
34,029
2,005,300
1,861,031
1,607,732
1,607,732
348,524

13 DEBTORS

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other Creditors
Accruals
Deferred Income
Deferred income
Balance at 1 July 2023
Amount released in year
Amount deferred in the year
Balance at 30 June 2024		 2024
£
4,510
2,860
16,475
85,812
4,965
114,622
2024
£
645
4,965
(645)
4,965		 2023
£
6,929
4,231
9,325
22,808
645
43,938
2023
£
645
-
-
645

20 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

15 STATEMENT OF FUNDS

RESTRICTED FUNDS
Card Aid
Charity Direct
Good Gifts – Charitable Gifts
Good Gifts – Running Costs
Knit for Peace
TOTAL RESTRICTED FUNDS
UNRESTRICTED FUNDS
GENERAL FUNDS
DESIGNATED FUNDS
Working Capital
Property
Flexible Endowment
Revaluation Reserve
Good Gifts Monitoring
Computer and IT Upgrade
Knit for Peace Middle East
Knit for Peace Working Capital
Knitting
as
Team
Building
for
Companies
TOTAL DESIGNATED FUNDS
TOTAL UNRESTRICTED FUNDS
TOTAL FUNDS		 Balance at
2023
127,902
231,382
304,450
-
-
663,734
40,203
200,000
45,000
1,078,000
235,862
23,400
20,000
60,000
203,000
60,000
1,925,262
1,965,464
2,629,199		 Income
1,657
1,310
216,763
45,858
47,937
313,525
51,472
-
-
-
-
-
-
-
-
-
-
51,472
364,997		 Expenditure
-
(7,567)
(192,048)
(45,858)
(106,788)
(352,261)
(215,275)
-
-
-
-
-
-
-
-
-
-
(274,126)
(567,536)		 Transfers &
Investment
Gain/Loss
(1,657)
-
(74,284)
-
58,851
(17,090)
215,090
-
(20,000)
(130,000)
144,269
-
5,000
-
(53,000)
-
(53,731)
161,358
144,269		 Balance at
2024
127,902
225,125
254,881
-
-
607,908
91,490
200,000
25,000
948,000
380,131
23,400
25,000
60,000
150,000
60,000
1,871,531
1,904,170
2,570,929

As explained in Note 4, part of the sales proceeds 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 are for specified causes (rather than for specific charities) are distributed throughout the year in accordance 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 purpose of Charity Direct is to encourage tax-effective giving through Gift Aid donations from individuals. The amounts donated are expended for charitable purposes at the instructions of the individuals concerned. The Charity Direct fund is also used to channel other donations to good causes.

The Good Gifts scheme encourages donations to a selection of specific charitable purposes. Generally, the donations are passed on to a named charity but the Charities Advisory Trust itself takes direct responsibility for some of the projects. This income, and the corresponding payments to charities, are shown above as Good Gifts - Charitable Gifts . Good Gifts payments are usually made twice yearly.

There are also administrative costs associated with the Good Gifts scheme, and these are shown above as Good Gifts – Running Costs . The Charity charges a small postage and packing fee for Good Gifts overseas orders and orders below £25. Donors are encouraged to make a Gift Aid declaration to enable tax to be reclaimed, helping cover the running costs of the scheme. The corresponding resources expended are part of the running costs of the

21 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

scheme. There was a transfer of £ £74,284 out of this reserve at the year end, which includes £ £59,605 for the cost of delivering projects and for Knit for Peace income received through Good Gifts, and £14,680 which was commission charged on all gifts to compensate the card payment fees and international transfer costs. The remaining difference represents a contribution to the overheads of the charity.

The Charity has working capital requirements. However, with an adjusted focus on Knit for Peace, the Working Capital fund has been reduced in recent years.

Property - Repairs to the roof have been carried out and a new sky light has been installed. Following the flood damage at Radius Works the insurers agreed to repair the drains, and to re-carpet and re-decorate the ground floor. We have adjusted the reserves accordingly. We still intend to re-tile the downstairs toilet.

In 2002, the Trustees decided to establish a Flexible Endowment fund to enable grants to be made when suitable projects came to their attention. In 2010, the Flexible endowment fund has been used as a buffer to underwrite some of the restricted funds where payouts were greater than the fund balance. The trustees felt since we had reserves it was better to use them to protect our beneficiaries, hard hit by recession, rather than set them adrift.

The balance in the Revaluation Reserve is calculated as the excess of the value of investments over the historical cost (there was no excess at 30 June 2010). The reserve is represented by that part of the investments.

Good Gifts Monitoring - a provision for travel costs to monitor projects/grants.

The sum of £25,000 has been designated for future Computer and IT and website upgrades.

Knit for Peace in the Middle East was launched in December 2018. The sum of £60,000 has been set aside for planned expansion into Jordan and the West Bank.

Knitting as team building for companies - we are trying to encourage companies to use knitting days for team building.

22 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

STATEMENT OF FUNDS COMPARATIVE

RESTRICTED FUNDS
Card Aid
Charity Direct
Good Gifts – Charitable Gifts
Good Gifts – Running Costs
Knit for Peace
TOTAL RESTRICTED FUNDS
UNRESTRICTED FUNDS
GENERAL FUNDS
DESIGNATED FUNDS
Working Capital
Property
Flexible Endowment
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
TOTAL DESIGNATED FUNDS
TOTAL UNRESTRICTED FUNDS
TOTAL FUNDS		 Balance at
2022
127,902
190,333
356,710
-
-
674,945
49,958
200,000
103,000
1,150,000
201,833
25,000
23,400
20,000
25,000
60,000
203,000
60,000
1,925,262
1,965,464
2,629,199		 Income
278
80,773
294,704
67,239
52,013
495,007
51,498
-
-
-
-
-
-
-
-
-
-
-
-
51,498
546,506		 Expenditure
-
(39,724)
(298,503)
(4,628)
(12,675)
(355,530)
(391,941)
-
-
-
-
-
-
-
-
-
-
-
-
(391,941)
(747,471)		 Transfers &
Investment
Gain/Loss
(278)
-
(48,460)
(62,611)
(39,338)
(150,687)
330,687
-
(58,000)
(72,000)
34,028
(25,000)
-
-
(25,000)
-
-
-
(145,972)
184,715
34,028		 Balance at
2023
127,902
231,382
304,451
-
-
663,735
40,202
200,000
45,000
1,078,000
235,862
-
23,400
20,000
-
60,000
203,000
60,000
1,925,262
1,965,464
2,629,199

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Non-Current Assets
Current Assets
Creditors: Due Within One Year		 Unrestricted
Funds
£
-
142,296
(109,657)
32,639		 Designated
Funds
£
1,547,259
324,272
-
1,871,531		 Restricted
Funds
£
490,068
181,656
(4,965)
666,759		 Total
2024
£
2,037,327
648,224
(114,622)
2,570,929

23 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

ANALYSIS OF NET ASSETS BETWEEN FUNDS COMPARATIVE

Non-Current Assets
Current Assets
Creditors: Due Within One Year		 Unrestricted
Funds
£
-
58,162
(17,960)
40,202		 Designated
Funds
£
1,857,862
67,400
-
1,925,262		 Restricted
Funds
£
51,329
638,384
(25,978)
663,735		 Total
2023
£
1,909,191
763,946
(43,938)
2,629,199

17 RECONCILIATION OF NET INCOME FROM OPERATING ACTIVITIES TO NET CASHFLOWS

Net Income for the reporting period
Investment income
Depreciation
Losses/(Gain) on investments
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors and provisions
Net cash (used by)/provided from operating activities
Flows from Investing Activities
Interest Received
Purchase of Tangible Asset
Net cash (used by)/provided from operating activities		 2024
£
(58,270)
(18,673)
16,133
(144,269)
68,823
70,684
(65,572)
2024
£
18,673
-
18,673		 2023
£
(166,937)
(14,505)
17,794
(34,028)
(53,683)
(59,297)
(310,656)
2023
£
14,505
(549)
13,956

18 Cash Flows from Investing Activities

19 Related Parties

David Russell, a Trustee at the Charity, is a consultant at SURF. During the year grants totalling £44,259 (2023: £53,100) were made to SURF to help fund the SURF Rwanda livelihoods, livestock and education projects. Charities Advisory Trust has supported SURF since before David's appointment as Trustee, and he has no involvement in the donations made to SURF.

20 LEASING AGREEMENTS

NG AGREEMENTS
Within 1 Year 2024
£
44,259
44,259		 2023
£
53,272
53,272

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The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

21 GREENWAY HOTELS PRIVATE LIMITED

The Charity has a subsidiary called Greenway Hotels Private Limited, a company registered in India, established to preserve historic buildings by refurbishing them for 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 project showing how tourism ventures can be run on a non-exploitative basis and can benefit employees, the local community 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 and maintain its fabric.

Consolidated accounts have not been prepared in respect of the subsidiary company as explained in Note 1. The results of the company for the year ended 31 March 2024 were as follows:

Turnover
Less: Operating Costs
Taxation
Loss for the Year
Profit and loss account:
At the start of the year
Profit/(loss) for year
Exchange differences
At end of year
Share Capital
Total Capital and Reserves
Assets and Liabilities
Total Assets
Less: Total Liabilities		 2024
Rs’000
44,916
(40,297)
4,619
8
4,627
(14,403)
4,627
-
(9,776)
8,997
(779)
14,732
(15,511)
(779)		 2024
£
426,844
(382,949)
43,895
76
43,971
(141,819)
43,971
4,945
(92,903)
85,500
(7,403)
140,001
(147,404)
(7,403)		 2023
Rs’000
31,359
(29,274)
2,085
(122)
1,963
(16,366)
1,963
-
(14,403)
8,997
(5,406)
10,562
(15,968)
(5,406)		 2023
£
308,775
(288,247)
20,528
(1,197)
19,331
(161,151)
19,331
(1)
(141,819)
88,585
(53,234)
103,995
(157,229)
(53,234)

25 | P a g e

The Charities Advisory Trust Notes to the Financial Statements For the year ended 30 June 2024

22 COMPARATIVE SOFA

Note
INCOME AND EXPENDITURE
Income from:
Donations and Legacies
Charitable Activities
Turnover from purchased goods
Turnover from donated goods
Other income
Investment Income
Total Income
Expenditure upon:
Charitable Activities
Good Gifts
UK Disaster Relief
Advisory Services
Direct Awards Programme
Card Aid
Peace Projects
IT
Project Development
Other
Total Expenditure
Gain/(loss) on revaluation of investments
Net Income/(Expenditure)
Transfers between funds
Net Movement in funds for the year
Net funds at 1 July 2023
Net funds at 30 June 2024		 Unrestricted
Funds
£
789
-
-
36,205
14,505
51,499
164,645
2,300
3,768
4,398
3,768
179,090
9,639
1,886
22,446
391,940
34,028
(306,413)
150,687
(155,726)
2,121,191
1,965,465		 Restricted
Funds
£
453,324
7,665
33,740
278
-
495,007
303,132
-
-
39,724
-
12,675
-
-
-
355,531
-
139,476
(150,687)
(11,211)
674,945
663,734		 Total
Funds Year
Ended
2023
£
454,113
7,665
33,740
36,483
14,505
546,506
467,777
2,300
3,768
44,122
3,768
191,765
9,639
1,886
22,446
747,471
34,028
(166,937)
-
(166,937)
2,796,136
2,629,199

26 | P a g e