Annual Repon & Finaiicia Stateinents For the )'ear ended 31 Marcli ?02J CARE (CHRISTIAN ACTION RESEARCH AND EDUCATION) CARE {CHRISTIAN ACTiof4 RESEARCH & EDUCATION) Contents Page l. Charity infomiaiion 2. Tru5teeg report GovernaiiLe Organisalion and siructure Risk management Suinmary of aLllVit)' Finaiicidl pruciiies Stateinent of Trusitts" reswnsibilities Ststem¢'iil as 10 disclosure of inforn)ation to the aiiditors Auditors Iv. 9-10 10 vi. vii. l. Independent auditors report 12-15 4. Statement ol'finai)cial 8clivities 16 5. Balance sheet 17 6. Stai¢ment ofcash llows 18 7. Not¢s to the financial slalenienis 19-31 CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Charity information Charitv registration number: 1066963 Scottish charit!, registr#tion Bumber: SC038911 CompAny registration number: 3481417 Registered offjce: 53 Romnei, Street Wesiminsier London SWIP3RF Bankers: Llo!,ds TSB plc WesimiEisier House 4 Dean Sthnley Sireei London SWIP3HU Co-operalive Bank PIC 6?.64 Southainpion Row Holborn Londoii WCIB4ND Auditors: Mazars LLP 6 Sutton Plaza Suiion Loull Road Suiton SMI 4FS Solicitors: Bishop & Sewell LLP (incorporaiii)g Monro Wrig])t & Wasbrougli) 59-60 Russell Square Holborn Londoi) WCIB 4HP CARE (CHRISTL4N AcfioN RESEARCH & EDLTCATIOY) Trustees, re ort for the vear ended 31 March 2023 The Trustees present iheit re]x)rt and the audited financial siaiemenis of the charitv for the Jear ended 31 Mar¢h ?0?3. iyhich are also prepared to meel the requircrnen￿ for a direciors. repon and accoElllts loi. Coinpa]iies Act piirposes. The Tru%tc¢s ha%'e adopted the provi5ioDs ofÈhe Siaiement of Reconiineiidcd Practic¢ (SORPI 'AcLounling and Rep()rtinLT by Charities,. l. Governance Governing doellment CARE (Christian Action Research & Education) is a registere4J chariiy both in England & Wales and Scotland and a companv limitcd by guarantee. The organisalion's governin(y do¢umenis are lis Meinordndum and Articles of Associaiion d8Sed 8 December 1997, which were last amended on 28 March 21M)7. Council of Man*gement ITrnstees} The members of the Board of Trustees (known as the Council of Management in our Article5 of Associatioii) are its directors for the purpose ofcompanv law and Trusiees for the purpose of ¢h8rity law and ihrouglioui this report are ¢ollectively referred to ￿ 'ihe Trustees,. The Trusl¢es serving durii)g the year are: Mr John O, Brien (Chair of Trusleesl Mr MiLI)a¢l tirgen SIT C"hurlcs Floar¢ Bi. Mrs l.ucy Rochelle Mr Garetl) Riissell The Revd Charles Trefusi5 In the eveni of a winding up of Èhe charity, each member is liable to coniribute an amount not ex¢eedin8 £10. The members are also lis Trusie¢s and th¢refor¢ at th¢ year end the number of Inember5 was six. The following non-members allend ihe Board of Trustees meeting by invitation: Rev Lyndoii Bow'ring (Chdirman of CARE. and Companv Secretarv of CARE) Mr Ross 14endry (in his capacity as Chief Executive Officer) Appointment (bf Trustees The Chair of TriislLes is nominated by the Board of Truslees. Two Trnstees are elected or revelected annually by tlie unanimous decision ot the Inembers altending ihe Annual General Meeting and serve for a period of three years. All metnik'rs &re ¢irculai¢d with inviiaii¢)ns 10 nominaie Trus(¢¢s. prior io il)e AGM. Tru$tee5' responsibilities CAFiE is a regisiered Christian charity providing resource5 and bringing Christian insight and eiperience to matte￿ of piiblic policy and practical caring initiatives. particularly on behaifof those most in need. The cliarit! s Trusiees Slave complied iviih theii. duty in Section 4 of the Cliarities Act ?006 to have due regard to PubliL Benefit gUid￿Ce issued by the Chariiy Commission and have taken accounT of it in planning fuEure activities. Tl)e Triistees do noi receii'e an¥ private benefit from the charity. other than set out in note 21 and the section on Related Parties below. CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Related parties Gareili Russell, & Triistee of CARE. is a Dircctor ol'Jersey Road PR i¥l)o provid¢d spe¢ialist con)municatioiis and Research for CARE during 2022-?i. See note ? I for more details. Charlie Hoare, a Trustee of CARE. received remuneration from CARE LS a consultani for public policy advice supporting CARF. s coiirribiition and participatioii in the EUrO￿an Leaders Forum. Transactions i¥'itl) rhese related parties a￿ disilosed in note ? l of rhese accoun1%. Trustee induction 4nd training New Trustees NNill undergo ali iiiduction progr2mme led b) the Chair of Trusrees supported by the Company Secretary. This include5 an introduciion io CARE. its Mork and histoiv. as well as the legjal. ftdutiary. leadership and sirategic responsibililies and duties of a Trusiee. Each Trusiee must demoiistraie a cominitment to CARE'S Stai¢meni of Faiih that is consisieni with evangelical biblical belief ai)d its application to the leadership of ihe chariry. In 2023. the Board ot Trustee5 engaged an e¥iemal consuliancy io undertake a governance review ihai will run until Spring 2024. This projeci is reviewingi ihe operaii¢)n aiid lunciioiis ofthe Board. l-his includLS. bLlI is not limited to.. ensLlI'ing that the Board of Trustees is carrying out all lis leyal and fiduciary respos)sibilirie%: h#s a clear sense ot stewardiiig and nurtvring the charily's mission and Plirpose: and hag¢ new and ¢xisling supponers in some of (he key are&s of CARE-S work. Our communications channels (Websiie. Fa¢etyy)k. Twiltei'lx. Instagram. and our weekly newsletter. Iinpaci,) grew sib7niticanily iii reach and profile over ihe year. This wa5 enabled c?iid supi)oned by Ilie produclioii of new content acrois all these cl)arinels. including ' Impaci TV, (YOUTU￿) and ih¢ 'foundaiions' video series ¢ovcrin¥ lore theology placed on our ￿'ebSIre. Over the year. CARF continued 10 drdw attention lo how "Christian gospel #nd l¢a¢hing bears on or affects n#tion41 ¥nd individu#l mor#liti and ethics" across 8 rangte of issues ihrough Coverage in the media. For example. CARE was Ihe first ¢harii)' io raise concerns atx)ui Ukrainian r¢fug¢es being targeted by tratfickers. CARE made stateinent5 that appeared in ihe Telegraph, the Daily Mail. and ihe Independeni. A5 the conflici progre55ed, we also received coverage in the Meiro. (he Guardian. (he Huffingtoi) Post. BBC Rlc dio 4. and international niedia. Opinion pieces on CARF. causes appeared ii) Politics Honie. Tlie Express. aiid Premier Chrisiianity. Furtlier ¢ov¢rage came ihrough radio iiiierviews for TWR. p￿mIer. UCB. aiid oil)er outlets. Eiiuipping pollejb mnkers Our work supponin8 and Challenging policy makers and influ¢ncers continued a¢ross nine ¢auses that represent themes of life. famil).. and justice. mil We have continued to promote th¢ family a5 one of the fundaineiilal instilulions in societv and developed public policv that suppons familv life. For example. we laiinched the annual CARE￿￿¥ and the Family '"Taxalion of UK Families •0?2" report in Parliament followed by its disseminaiion to kev Parlianientarians. Our analjsis following the Truss admiRisirdrion s mini budoet M'as also well re¢cived across Parlianient aiid the media. It set out CARE'S fiscal poli¢), priorities to support lamilies during Ihe ct*rrent cost-of-living crisis. Work Telating to the Online Safei). Bill has focussed on the aim of prolecting families. and children in panicular, from hami. We have been a key partner in a iector-wide alliance (including NISPCC. Barnardo s, Internet Watch Foundation, Lucv Faithful Foundation. CEASE. and others) working io amend key aspects of the Bill relating to naming pomography as hartnful conieni and placing such conteni behtnd litics, bE5siness. and tlie ch￿￿h. Wl)en iiot receii.in¥ education and trainiiig from the IFC, the graduate5 work oi. volunteer with Parliamentarians andlor NGOS working in th¢ UK public sqiiare. Tliose working or volunteering in Parliament do so with members in Houses and across four different parties as well as Crossbench peers. rlneri C'i'osslands We continue to partner willi Crosslands in prodii¢inE educational opportunities for meinbers of the UK church. During thi5 repoiting peri￿ have supported lh¢ delivery of an onlkne book group looking at issues relating to the 11116igo Dei and teaching iii the book of Ger5e5i& and the pr(trduction of att online ethics course that is due to b¢ launched at the end ot-2023. CARE (CHRISTIAN ACTION RESEARCH & EDLTCATION) Euro an Leadetshi ELF CARE on¢¢ again restx)nsible for leading the Politics and Socieiv Network scssioii at tlie European Leadership Forum (ELF) in Mai, 2021 The Network is one of the largest at tlie confereiice, ￿h￿se total membership is ovei. 650. mainlv drawn from across the European conikftei)l. ii.iih a particular focus on centi'al and e￿Iern European panicipation. Through our w'ork ai ELF. i¥e l)ai'e an opportunity, to equip leaders io influence society thi'ough a Christian li.orld￿.1eW and io be sali aiid light in their coniext. In ?0?2 also tuiided the panicipation of OLir Leadership Programme members to attend rhe conference. Supporilngpructical arpressions linked lo our area5 ofresearch andeducoliov. PEN This is a ministry service rhat we direcily supporf and deliver. li equips ChU￿h¢S io gain an understanding of the pastoral issues siirroundinLi uninlended pregnanc}y abortion. and other babi'10sS. During_ ?022.23 our lead consultant continued to deliver iraining sessions to churclies and groups of people interested in bringing a pastoral response to the issues of crisis pregnancy. 1< bortion. and oiher pi'egiiancy loss. Slie also SLipponed the work of otl?er orgaiiisaiions and individuals inlerested iii supporting and cariiig for those who have suffered pregnancy loss. Towards ilie end of the reporting vear. we began preparations for recruiiing a iiew Consultant to work in Northern Ireland and over ihe long-tern7 for a replacement io lead ihe across Great Britain. Pra for Pray tor Schools is a partnership with Youth for Christ. Associaiii)n of Chrisliaii Teacliei's. Open ilie Book, Prayer Spaces in Schools. SeTlPture Union. and Free Churclies Group. Its ainbilious i'ision is for every SLI)ool in ihe UK to be a 'prayed foW s¢hool. We continued to suppon the mainienan¢e of ihe prayer nelworL' aild updaie of reiourcLs ihar inforin aiid encoLira¥ie prayer for the NNork of schools - students. families, siaff teams, and their leaders. Grants awar (her anisaiions Over the course of the year. supported otlier O￿nIs3t10ns that are ui)dertaking iinportai)t work eoiisistent with OLir own ¢l)ariiable objects. Man), of these provide pra¢iical support aiid help 10 their bei)eficiari¢s in wavs that CARE ¢annot. These were.. Aficr Work Net.. work io support older people in retiremeni find purpose and fulfilmeiii. Bioeihics Centre: research and academic ￿SOurceS on life issues. Care Not Killing.. Promoiing resources in support of better end of life care and opwsilion io assisted suicide le¥islation. ForLim for Chrisiian Leaders: to provide s¢holarsl)ip5 to voun& or resource poor. Clirisiian Leaders to aEteiid ELF and its Politics and Societv Neiwork. Naked Trutli.. supporting those impacied. at risk of being impacted. or addicted to pornography. Not Dead Yei: campaigning for respeclii)g the rights and dignity of disabled people. CARE (CHRISTIAN AcfioN RESEARCH & EDUCATIO Prioritie$ for 2023-24 Our 2023124 Corporate Business Plan sets out the following priorities.. To implement the new siraiegy ￿1th a talenied. mission-focu%d team H'orking effectively in a professional environment. li. Reach. enga(Te. and recrtlit Inore ParliaJlleniary and church SUPF4)rteT5 and donots. iii. Idei)rify and achieve tangible siiccesses throu8h our catnpaign and public affairs work. that we celebrate interiially and wiiil external dudiences. iv. Use significant annivers8ry vears for CARE and ihe Leadership Programwne to honour our faithful suppoi1ers and launch new major projects ihat will secure CARE'5 future role and pla¢¢ ii) the public square. Our Corporate Biisiness Plan ouilines 12 major projects designed io deliver these objectives alongside coniinuing and regular work. V. Flnancial ractices Fundraising PTa¢ti¢es The majorily of CARE'S funding is received from thousands of faithful UK supporters who make regular donaiions. and we continue to give ihanks for their gei)erosity. CARF.'s fiindrai%iii&? 15 Compliani With ihe recognised Standards of Fundraising set out iii ihe c.ode of Fundraising Praciicc. CARE participates in ihe Fundrdising Regulaior'4 volUn￿1V r¢gulaiori' regiine. No complaints about il)e ¢harit) s fundraisingl aciiviiies were received durinL? tlie 2022-23 financial year. All Tequeqts lor donation5 are coinpliani with GDPR (General Data Proieciion Regulaiion) Regulations and those responsible for I'Lindraising are ¢aTelully moniiored. W'e manage all (5uI' mailin￿ and cOrres￿ndenCe wilh supporters in line ￿'Ith their cornmunicalion preferences. All corrc%ponden¢e provides the Tecipient wilh informaiion aLM)ui how they can be removed froin OUT mailii)g lists. We do iiot Ilndertake telephone ftsndraisin& and we ensure that our fundrnising requests are sensitive and without pressure. Flnancial revleiw During the year. CARE mad¢ a surplLl5 on unrestricted funds of £122.262 (2022.. £932 deficit). This include5 the receipt of legacies iotalling £303.56812022.- £65.10?). The Trustees reinain cominitted io ensuring that CARE h&$ in place a robust budgei and finan¢ial controls to ensure ihe delivery of CARE"s objectives. Nel movement in ftinds for tl)e year amounied io £114.746 net income (2021.. £14.933 net expenditure). Unrestricted fLind balances carri¢d forward at the vear-end M ere £4.543.510120??= £4.421.248). Restricted funds ¢ari'ied forward at the vew'_end amounled to £i8.39712022: £65.913)- Investment polio. Under the Memorandum and Articles of Association. CARE has the power io make any inveslment which the Trustees see fit. Since CARE iniends to hold limited reserves. Tnost funds are held ir itt51aiit access and deposit accounts. Where signili¢aiii money is being held in Restricted and Designated FuTrds. the Trustees will Énvest in fixed-term accounts of up to Six months. CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Re5erYes policy CARE has no involvemeni in major capital programmes. nor does it have an5, directly dependent beneficiaries. Tlierefore. the Trusieei feel it 15 inappropriare io hold significant reserves. preferring to n)&ximise the use of funds for the advancement of C.4RE's chariiable objeciives. Consequenilv. Ihe-Iiusiee% intend to Inaintain a fl'ee reserve eqiiivalent EO four months operating c051s lapproiimaiels.. £600,000) ￿'1th1n the iieii )'ear. Fl'ee reserves are calciilated as iotal general fund8 ¢.xcluding iangible Ii_xed &8seis. At the end nf tlie )Jear. free reserves were £1.496,964120?1: £1.443,458). The I'tusiees are curr¢ntlv revieiiing iheir ii)vestmeni strategy and e.xploring the tss¢ of invesiment prograinmes 10 proieci the loiig-term interests of tlie charitv. AssessmeDt of CARE as a 'Goits£ Concern, CARE is in a strong financial position with reserves Significantly aix)v¢ the levels set out in Ehe Reserves Policy. During this year Triis¢eeg approved a neiv straiegic vision and framework thai directly shaped the ¢harily'S Business Plan. While ilie Business Plan and Bud&)e( forecast a largye Geiieral Fuiid deficii for the year. tlie majority of this is accounted for by invesimeni in areas designed to generaie new and susraii)able gro￿117 in supporter numbers and voluniary incoJne. 11 e.Ipeeted that niedium-iemi ¢0s18 can be carel'ully conirolled and linked direLtly 10 illLre&%ed incoine. Ti'ustees e.Kpect that (here ivill be aiiother generdl fuiid deflLii year in ?0?41?i. due TO pressures oli salaries that account for over 600/0 of expL'nditure, bui Ihai there will be a return to surplus by 2025. without Ilie reserves policy being breechert. For ihis reason. Trustee5 believe thai CARF. meets all re&sonable Goiiig Concern tesls. Vl. Statement of Trustee¥, res onslbililics Coinpany law requires l-rus¢ees to prepare financial slateincnts for each financial vear Kvhicli giive a i￿¢ alid fair view ot the siare of affairs of ihe charity as ai ihe balance sheei dale. and of Ih¢ir iiicome and expeiiditure for ihe finai)¢ial year. In preparing those financial siaiemenis. the Tntsiees are required to.. select suitable accoLsnting policies and ihen apply ihem consistei111y. make judgements and estimates that are reasonable and prudent. State whetlier applicable accouniing siandards and Siaiements of Recommended Pi'actice l)ave been followed. siibj¢c( to any Inaterial departure5 disclosed and explained in the financial sialemenls. prepare ihe finai)cial statements on the going conceni b&sis unless it is inappropriate 10 presume tlial the charitv will c0111iiiue in operation. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracv ai any time Ihe financial position of the charitv and ¢0 enable them to ensure that the finaiicial statements comply with Coinpanies Act ?006. TheN' are also responsible for safeouarding tlie asseis of the charity and hence for taking re￿onable sieps for ihe prcveniion and dete¢rion of fr8ud and other irregularities. 10 CARE (CHRISTIATrI ACTIOF4 RESEARCH & EDL,CATION) VII. Statement as to di4closure of infurniation 10 auditors The Tnjsiees have taken all the necessary steps to make us a￿are. as Trusree& of anv relei'ant audit inforn)ation and to establish thai ihe auditors dre a%¥are of ihat inlomiaiion. As far as ihe Trustecs a￿ a￿are, there is no relevant audit infomiaiion of m.hich the Lharitv s auditors are unaware. Vlll. Auditors A re5()lution to appoint auditors will be proposed at the lonhcoming Annual Generdl Meeting. These A¢counts have been prepared in accordance M'iih the provisions applicable to companies subject to the Small Companies. regime. Approved by the Council of Managemeni on Joih November 2023 and signed on iheir behalf by Mr Jolin mes Irien. Lhair of Trugiees CARE (CHRISTIAf4 AcfioN RESEARCH & EDUCATION) Inde endent Auditor's Re ort to the Members and Trustees of CARE Action Research and Education Christian Opinion We have audited the financial staiemenis of C.4RE Iclirislian AciioEI Researcli aiid Edu¢aiioiil Iihe 'charits ) for the vcar ended 31 March ?023 ivl)ich comprise tlie Stateinent of Fiiiaiicial Aciivilies. the Balaiice Shcet, tlie StaEeTllent of Cash Flows and notes io ihe financial statemenis. iiicliiding 3 suniInarJ of significant accouiitiiig policies. I'he financial reporting frameiTrork that has been applied in (Iieir pr¢paratiOll 15 appl icable la￿. and Uiiited Kingdom Accountin￿ Standards, including FRS 102 -"The Financial Reporting Standard applicable in the UK and Republic of Ireland" l Uniied Kingdom Generallv Acctpied Aceouniino Practice}. In our opinion, the financial staietnents= give 3 Iriie and fair vieK' ol'the siaie of the charity's affairs as at 31 March 20?3 and of its income aiid expendiiure for ihe year then ended.. have been prop¢rlv prepared in accordance witli United Kingdom Generally Accepted Accounting Praciiee.. and have been prepared in accordance ivith the requirements of the Comp1c ni￿ Act ?006. the Charities aiid Trustee Iiivestmeiii (Scotlandl A¢1 *005 and I'e&Tulaiion 8 of (he Chariiie.4 Accoiiiits (Scotlaiid} Regulatioiis 2006. B4sls for oplnlon We condLieted our aLidil in aecordance ivith Intemational Siandards on Aiidiling IUK) {ISAs (UK)) and applicable laiv. Our rL%ponsibilities under those standards are further described in lh¢ Audiror's responsibiliiies for the audii of the findnciJl siaiemenis seciion of our report. We are indepei)deni of the iliaritj in ac¢i)rdan¥e viih Ihc etliical requiremcnis il)a( are relevant to our audil of (he fiiiancial staleinenis ii) the UK. including? tlie FRC'S Eil)iLal Stand¢ird and ive have fulfilled our other ethical responsibilitie5 iii ac¢oi'dai)Le w'ith tliLS¢ requiremeiits. We believe Ih&t the audit evidence we have obiained is sufficient and appropriate to provide a basis for our opinion. Conclusions re12ting lo going ¢on¢erD In auditing the financial sraiemenis. we have concluded (hai the Trusiees. use of the going concern basis uf accounting in the preparaiion of the financial staiements is appmpriate. Based on the work we have perfomied. we have noi id¢niified any material ijneertainties relating to events or conditions that. iiidividually or collectively. Inav cast significant doubt on the cliarilv's abilitfv lo ¢oiitinue as a goi11g￿ ¢oii¢ern for a period of dt least iwelve monihs from when the financial stateii)eiil5 arc authorised for issue. Our responsibilities and the responsibilities of the Tnjstees with respect to going concem are described in the relevallt seciions of this report. Other information The other infortnation comprises th¢ infomhation included in ihe annual report. oiher thali ilie finaiicial statements and oiir auditor s report thereon. Tl)e Tru5tee5 are responsible for the other itiforination. Our opinion on the financial statements doe5 noT cover tlie other infomation and. except to the exient otherwise explicitly stated in OLir repon. we do not express any forni of assurance conclusion thereon. CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Other Rnformation (continued) In conne¢iion with our audit ol'ihe financial stateTneiits. our r¢spon5ibilily is to read the otlier infomiation and, iii doiiig so, consider whether tht oihei information is materially in¢onsisteni M'ith tlie financial statements or our knowledge obtained in ihe course of lh¢ audil. or othenlise appears to be mateTiallv misstated. If we identify Such Inaterial inconsistencirs or appareni material misstatements. we are requÉred io determine whether there is a Inaterial missiatemei)t in the financial S1411emenis or a material misstatemeiit of the other infomiation. If, based on the ivo)A( ive h of the cliariiy and its aciiviii¢& we considered that 1i0j3ThcoJ￿pI1anQC wilh the following lawq and regulaiions mighi have a maierial elTeci on the finaiicial staiemenis.. einployineni regulation. liealih and .%afetv rcbTulalion. anii-mon¢¥. lauiidering regulation. To help us identify instances of non-compliance with ihese laws and ￿gUlarIOns. and in identifyin¥F and assessiiig the risks of material missiateilleril in respeci 10 noil.: Unr¢striLted tunds Reslricted funds 4.543.510 58.397 4.421,248 65,913 17 4.601.907 4.487,161 These financial siaiemLnis have beeii Prepared in accordance willi ihe provisions applicable to companies SLibjecl to ihe smo11 companies regime. Approved by the Tru5¢ees on 30th Novernber 2023 and signed on their behalf by: Mr John Ja e50. ien, Chair of Trustees Companj Number: 3481417 17 CARE (CHRISTIAN ACTION RESEARCH & EDbCATIOY) Statement of Cash Flow5 foT the Year Ended 31 Mi arch 2023 2023 2022 Cash flows from operating actii'ities Nei incomelie.Ipendiiure) for th¢ tinaticial year 114.746 114,9331 Adjustments for.. Depreciation of tangible assets Inierest recLived 28.714 (1.2861 112.208) 37.517 28,015 135) (9.243) {38.?2.11 Dividends received Gain￿(loSSeS) on investments Decrease in trade and otl)er debtors 12.821 Increaselldecrease) in trade and oih¢r credtrors 15.626) Cash from operatlons ?43,1 j (14.140) Cash flows from investing a¢tivi¢les Piirchase L)I' tangTiblc assets Piirchase of investments {11.303) {86.835) 68.736 17.0451 {106.6241 88,412 35 Proceeds from sale ot inveslments Inierest received Dividends received 12.208 9,243 Iyet e*sh from investing a¢tlvltle5 {15,908} 115,9791 Net increase/{decrea$e) in cash and cash eq￿1valelltS ??7.243 (30.119) Cash and cash equivalents at slart of year 1.051.633 1.081,752 Cash and cash equivalents at the end of the year 1 ?78.876 I,0.fj1,633 'Cash and cash equivaleiits. consist of "Cash at b8nk Jnd in hand" £1.275.6?21202?: £1.035.736) and "Cash held as part of the investment portfolio, £3.• -i4 (?022: £15.897). CARE (CHRISTIAN ACTIO.N RESEARCH & EDUCATIOL44I Notes to the fillancial statements for the )'ear ended 31 Mareh 2023 Conipany infonnation CARE is 8 companv limited by guardnlee and regISte￿d in EnglaJ)d and Wales. registration number 3481417, and a chariiy registered in England and Walcs number 1066963 and registered in Scotland number SC03891 l. The regislered olTi¢e is 53 Ronlney Streel. Westminsier. London SW I P 3RF. B85is of preparntSon of financial st8temeDts The finaiicial %taiements have been preparcd in ￿CordanCe with AccountinbJ and R¢porting by Charities.. StatemeDI of Recommended Practice applicable io ¢liariiies preparing thcir accounts in accordance with the Fin1£ ncial Reponing Standard applicable in the UK and Republic of Ireland IFRS10?) leffLctive January 2019)- (Charities SORP (FRS102)}. and tlie Companies Act 2006. CARE meets the definition of a public trtnefit entity under FRSI 02. Assets and liabilities are initially re¢ognis¢d at hi5tori¢ul ¢osi or trdnsaction value unless oihenvise sthi¢d in the relevant accountiiig policy note. The Trusiees have agreed deiailed budg¢is for ihe year ended 31 March 2024 and r¢vi¢wed cashflow forecasts 10 30 November 2024. Boih sources of in¢oiM¢ and types of expeiidilure have been reviewed and tlie Trustees have also considered ihe chariiy's working capital and capital expenditure requii'emenis. As o resuli of (he foregoing ihe Trusi¢es are satisfied that it 15 appropriate to prepare the accounts on a goin¥ ¢oncem b&si5. Vlxed assets aDd depre¢i#tion Depre¢iaiion is provided by ihe chariiy io write off tlie cost of tsngible fixed assets by equal insialm¢nls over their esiimiilLd useful economiL lives &s follows: Freehold buildings ()ftice equipinent Motor vehicles Computcr equipment - 50 years . 7 vear5 - 4 year5 - 4 years Provision is made for depreciation on Ihe freehold pruperty bul not Ilie relaied land. Tl)e freehold building was ii)depend¢ntly revalued in December 2012 and the Inarkel value was deemed io be £3.095.000. The TrL15tees consider ihai £890.000 of this revaluation relates to ihe cost of the building and therefoTe thi5 amouni been depreciaied accordinglv. Leases R¢nta]s payable under operating leases are charged on & straight-line basis over tli¢ terni of the le&se. P¢nsloll costs The charity does not operate its own scheme. Contributions are made to a groiip personal pension sclieine. The ainouiit charoed to the Statement of Finaiirial Activities represents tlie contribution5 payable to such scheme5 in respect of the accounting period and amounted 10 £96,984 (2022.. £96.3431. Stocks Stocks are staled at the lower of cost and net realisable value. 19 CARE (CHRISTIAN ACTION RESEARCH & EDLCATION) Notes to the financial statements for the }ear ended 31 March 2023 Income All income is included in (he Stdtknincnt of Financial Activities when the ¢harily is legall J ciititled to the income and the amouni can be quantified u.irh reasoiiable accur2cN,. LegTa¢ies are recognised as income Mheii it can reasonablv be assumed ihat ihe chariiy is enlitled to tlie legacy and the amount can be estimated wiih siifficieni reliabilili,. Expenditure All expenditure 15 included on an a¢¢nJals basis and is recognised wheii there is a legal or constructive obligation to pay for expendiiure. Expenditure ha5 been ¢lassified under headings thai aggregate all costs related to il)at a¢iivity. Wl)ere costs cannot be direcily aiiributed io pant¢ular activiiies. rhey l)ave been allo¢aied io aciivities on a basis consisteni wilh ihe use of resources. Ceniral overhead costs ￿e all()cated to charilable activities and costs of raising lunds on (he basis of their use of cenirdl suppotT services. Cosis ol'rdising fund5 are those incurred in seeLingy voluntary contributions and do not include Ilie costs of disseininaliiig7 Iiilormation in support of chariiable a¢tivili**. Governance costs are ihe cosis associated with the governance arrangemen15 of Ihe Chariry, as opposed lo the direct mana¥Teinent funciions inherent in rnising funds ar chariuble acisviiy. Iiicluded wiiliin Iliis Caiegory are cosis associated with the strategic. as opposed to daY-l￿aY. Inanagieinent of the Cliarily's Support costs represeni ihe sialTing and a&4ociaied Cosis of finance. personi)el and gT¥nerHI adininistraiion and are allocaied across the categories of charitable aciivities. goN'eriiance costs and ilie costs of raisiiig funds. The basis of ihe cost allocaiion has been L'xplained in iiole 7 to Ilie fiiiancial 5tai¢menis. Certain expenditure 15 directly attribuiable to spe¢ifi¢ a¢iivities and Ih¢se have been includ¢d iii the ¢osl of these aclivities. Certain oiher costs. which are aitribuiable io more tl)an one activity. are apportioned across aciivities on the basis of an estiinaie of tl)¢ proportion of iimc spcni by Staff on Ihos¢ activities. Where informat1011 abolit ilie aim5. objective5 and projects of the charilv is piDvided iii the coi)teni of fiindraising Inaiei'ial in an educational maniiei.. these cosis are apporlioiied io cl?aritable activities. Irrecoverable VA T is char&Ted as a cost in the Statement of Financial Aclivilies. and apportioned acroqs aciiviti¢s. Irre¢oYerable VA-r in respect of the accounting period ainounled to £63.516 (?0??: *56.057). Invesiments Investments are stated in the balancc sheet ai iheir fflarket value as at the balance sh¢¢t datL. All movements in value arising from invesimeni changes or revaluation are shown in the Stateineiit of Finaiicial Activities. Realised ￿ainS or losses on investmcnts are calculated as ili¢ difference b¢ti4reen the disposal proceeds and market value ai tlie beginning of the J'ear. Unreali5ed gains or losses are d¢riv¢d froni the movement in market values during the year. CARE (CHRISTIAPI. Acfioii RESEARCH & EDUCATION) Notes to the financial statements for the lear eDded 31 M*r¢h 2023 Fund a¢eountin Fund5 held by ihe ¢haritv are either.. Unresiricied general fund5- these are fLinds which can k used. in ac¢ordance with the objects of the charitv. at the discretioii of the TriJstees. Untrsiricted d￿Ignated funds- Ihese are ftjnds set aside by ihe Trustces out of unrestricied Teneral lunds tor a specific future purpose or projects. Restricted funds- these are funds that can only be used for particular resiricted purposes 'ithin thc objeils of the charit),. Restrictions arise when specified b) Ilie donor or when funds a￿ raised for particular resiricred purposes. Further explanation of ihe naiure and PUryM)se of trdch fund is included in the notes lo the financial statements. 1.10 Non-deriv4tive finMnci81 instruments Non-derivative financial insirumenis comprise trade and other debiors, cash and cash equivalents and trade aiid otlier creditors. 1.1 l Debtors and creditors receiv#blelp*y*ble wllh5n one ye*r Debiors and cre¢Jitors ivitl? no staled interest rate and receivable or payable within one year are recoi'ded 81 tran5actioii price. Any losses arising from impairnieni are reco¥nis¢d in Ihe stslement of 1.12 Cash And ¢*$h equivJlent$ Casli and cabh equivalenis in rhe balance sheei comprise cash ai bank and iii hand. For ihe purpose of the staiement of cashflows. Lash and cash equivalents are net of bank overdrafts which are payable on demand. 21 CARE ICHRISTJAN ACTION RESEARCH & EDL'CATIOIN) Notes to the financial statements for the year ended 31 Mareh 2023 Net movement in funds The nei moweineni in lunds for year ts sraied aft¢r charoing: Total 2023 Total 2022 Aiiditors. remuneraiion Depreciation Staff Pension Costs Le￿e Payment5 7,79) 28,015 96,343 19,266 28.714 96.984 All in¢ome ￿&S received from activilies within the Uniied Kingdom. Donatltsns and legacies Unrestrieted runds Restricied funds Totol 2023 TotAI 2022 Regiilar donaiions LegTa¢ies Other donatioi)s 987.893 303.568 911.573 981 893 303..$68 916.573 974.753 65.102 876.4)8 S.0(Ml 2,203,034 5.000 2 108,034 1.916.313 4.165 Govemment grants 2 !03.034 5.000 2.?08.034 1.940.478 Regular dot)aiions are thosc received by Direct Debit. bank siandirtg order and oiher regular giving mechanisms. Legacies were all received in the year. Toial donations in 2021-2? were £1.920.478 split £974.753 Linrestricted "Regular Donations" £65.102 Linrestricied "LegyaLits' £851.458 unresiricied "Other Donations" £?),000 r¢slricled-'O(her Donations and £4.165 were unrestricted "Gov¢n)m¢n¢ Grants". Tax recoverable in respect of donations amounied to £214.0641?022: £?41.i27} ai)d thi5 has been included in the relevant categories of income. Income from charitable ActRviti Sales of educational ¥ngterial Unrestrieted Total Total 2023 2022 Influencing public policy 24 560 24 560 CARE ICHRISTIAN ACTION RESEARC.H & EDIICATION) Notes to the financi81 $12tements for the year ended 31 Mareh 2023 Raising funds Unrestricted Total Total 2023 2022 Regular donations Le¥aiies Oiher donations 104.592 110.286 6,141 6,476 93,973 99.088 204,706 215.850 7,553 4.846 Investment managemeni cosis 212.259 220,696 Included in the above are support costs of £51.859 (2022: £51.082). Charit¥ble activities To¢al direct costs Staff costs Other costs Support Tolgl 2023 Total 2022 Educaiing PLiblic opinion Inlluenciiig PL',blic polic Developing young leadci's 296.744 429.205 69.167 239.790 536.534 l Q5.374 614.579 96.807 165.Q74 ?04.969 26• 286 62.688 741,503 719,872 886.865 825.099 228,662 *17,805 Total 2023 795,Ilb 531.971 1.3?7.087 529.943 1.857,030 Toial 2022 824.463 525.903 1.350.366 412.410 1,762,776 Support ￿$ts Management Infonnatlon Human & Fin*nce Technology Re$ouretq TotRI 2023 Goi'ern*n¢e Facilitle$ Educaiinb public opinioii Influeiicin17 piibli¢ poli¢v Developing voiin&i leade]5 10.595 12,305 3.468 97.639 113,398 31,955 29,219 33.932 9.562 20.835 *8.650 5.209 46,681 204.969 74.001 262.286 12.494 62,688 26,368 3,193 24? 99? 29.429 72.713 8.806 54,694 5.209 133.176 529,943 5.222 51,859 Raising flinds 29.561 ?72.421 81.519 59,903 138,398 581,802 Managem¢ni & goveman¥e. finance. it)formation technoloJo and facilities costs are allocated on the basis of exptnditur¢. whilst human rtsources costs are allocated on the basis of head count. 23 CARE {CHRISTLIN ACTION RESEARCH & EDDCATJON) Notes to the fittancial statements for the i'egr en(led 31 March 2023 Staff numbers and eost$ 2023 Numlier 2022 Number The average nuinber of stafFeniployed during The vear wa$ 2) l?02?: ?5}. The average iiumber offull iime equivaleni staff employed by ihe chariiv duringF the vear, analNsed by category. including siipport staff was as follows.. Influencing public policy Educating public opinion Developing young leaders 10 22 21 Costs of raising voluiiiary income 24 24 Staff nuinbers inclLide suppon siaff all(Kai¢d io ihe various aclivitie5. The aggregate payroll costs were.. Wages Jiid salaries Social security CO%IS Pension Losts Redundancy f4?8.691 93.945 96.984 917.328 95.950 96,343 17.940 1.119.620 1.127.561 2023 P4umber 2022 Number £60.001 £70,000 £70,001 £80,000 Pension coniribiitions of £8.364 were made in 2021_?3 on behalf of this employee. No Ti'ustee receiied ani, remuncration in their role as Trustee during tl)e ye8r l?02?: none). Note 21 gives details of amounts p￿d to Trustees for other services provided during the year. No Trustee re¢eived reimbursed expenses in the financial )'ear (20?2- none). The total einployment benefits. includini r employer pension contributions. ofthe key management personnel of Ihe charity were £143.6141202?: £148.469). CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the financial statements for the l'ear ended 31 March 2023 Fixed assets Freehold property Office equipmettt Computer equipment Total Cost At l April ?022 Addition5 3.095.000 69,6?8 59.390 11.303 3,224,018 11.303 At 31 MarLh 2023 3.09i.000 69.628 70.693 3.235.321 DepreeiatiOD Ai l April !0?2 Charge for the year 164.650 17.800 66.7)5 2,873 48.430 8.041 279,835 28,714 At 31 Mur¢h 20?3 182.450 69.6?8 56.471 308.549 Net book values Ai 31 March-.023 2.91? $50 14.2*2 2.926,772 At 31 March 2022 2.930.3!0 10.960 2,944,183 The fi'cehold buildinb? was re-valLied al £3,09S.000 on tliL basis of IoLir independL'ni local ab?ents' estiniaied valuaiiniiq rLCLived in i)Lceinber ￿012. The TrusiL'es re%'ieii.ed fhe N'aluaiioii at 31 March 2016 bv ¢(Iinparison lo 5()Lal propen> price% ano coiisider ihal the valu8tion in the finaiieial stateinents remains appropriate. On the iransiiion in Eh¢ Charities SORP IFRSI O?). the TTUStees decided to treat this valLie as tlie deein¢d cos1 of the property. There is an eqiiitj mortg)age secured against ihe propertv which is dis¢losed within creditors in note 13. 25 CARE (CHRISTIAN AcfioN RESEARCH & EDL'CATION) Notes to the financial statements for the year tnded 31 March ?023 io Fixed Asset Investments 2023 2022 Market Value Listed iiivesiinenls: Opening markei value Additions Disposals pro¢¢eds Ponfolio revaluation -736.3*8 86.835 {68.7i6) {37,5171 479.893 106.6?4 188.412) 38.223 516,910 3.254 536.328 15.897 Cash held as part of portfolio C105ing marker value 5?0.164 552.22) All invesrmenrs are held primarily to provide an invesimeni retum for the charity. li Stocks 2023 2022 Books and DVDS 1.500 1.500 12 Debtors 2023 2022 Due within one year: Gift Aid Recoverable Prepayment5 and accrued income Other debtors 31.556 ?0.566 5.342 57,464 37.995 6,9?6 70,285 26 CARE {CHRISTIAf* Acfiop4 RF,SEARCH & EDL'CATION) Notes to tbe financial ststements for Ihe )ear ended 31 March 2023 13 Creditors: AM0￿￿ts fallin¥ withtll one year 2023 2022 Equitv Mone24es Tr#de ci'editors Social .¥eeLirity costs Pensii)n Coniributions payable Other ¢r¢ditors Accruals and deferred income 3).336 70.913 35,336 34,263 26,308 234 6.000 8.141 6.300 3?,370 179.615 116,768 14 Ltasing ¢ommitmeRts The charity's I'uiure miiiimum operating l¢ase pavmenis are as follows: 2023 2022 Withiii ui)L year Between one and five year5 8.542 16,053 8.063 8,080 27 CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the finaneÉal statements for the vear ended 31 Maryts 2023 15 Unrestriettd funds General rund Designattd fund Total Balance at l April ?0?? 4. j51 305 68.943 4.4?1.248 Net incoine/(expendiiure) in the year Transfers beiween funds Gain on revaluation of investments 212,?72 (138.660) (37.517) 15? 493) 138,660 159.779 (37.517) Balance at 31 March 2023 4.388.400 15.5.110 4.i43,510 16 De8lgnoi¢d funds Balance at April 2022 Balance at Tr#nsfers 31 March 2023 In¢ome Expenditure Romney Sireei End ot Life Campaign Chiirch Leaders Relationships Websiie 40111 Anniversary 3.79) 15.148 50.000 100.000 103.795 115.148) {37.?601 112.740) 29.600 21.800 29.600 21,715 (85) 68.943 {52.493) 138.660 155.110 The Romney Street fund is to provide for future upkeep and development of tlie buildii1g. The End of Life Cdmpaign fund is to >pearhead CARE'S work io prevent a ¢lianbte in the laiv on Physician Assisted Suicide and promote good palliative care across the UK. The Church Leaders Relatioftship fund is to develop our work with cliurch leaders. The Website fLind is to refresh and rebuild CARE'S website ¢on515t¢nt with the new orgw)isational strategiic vision. The 40th Anniversary fund is for a series of events and acEiVlties thai assist supponers engage with CARE'S 40ih anniversarv. 28 CARE (CHIUSTEAN ACTION. RESEARCH & EDLTCATION> otes to the fin#neial statemellt5 for the vear ended 31 Mar¢h 2023 17 Restricted funds Ba13Dee gt l April 2022 Balance at Tratt5fers 31 March 2023 Income Expenditure IFC Development Fund P Word Northern Ireland Equipineni Fund 54.208 53.397 {5.281) {6.424) 6.4?4 5.000 5.000 65.913 5,000 {12,516) 58,397 The IFC DeN'elopment fund is to cover the co￿$ of ongoing work with the Alumni. The P Word flind is io give the latest infornialion and provide resources for those in church leadership to help tliose stru¥gling with issues around pornographv. The Northem Ireland fund is to trdin volunteers and establish pregnancy crisis centres to support those facing an unplanned prebinancy or posi abortion issues. The L'quipment FLind is to be used for Ihe purch￿ of nelw equipmenl thai will further CARE'S mission and ¢harit