Annual Report Financi Stateillents For the year ended 31 March 2024 CARE (CHRISTIAN ACTION RESEARCH AND EDUCATION)
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Contents Page l. Charity infonnation 2. Trustees report Governance Org8-nisation and sttuoture Rislc Inanagement Summary of activity Financial prdctices St&tement of Trustees, responsibilities Statement as to disclosure of inforniation to the auditors Auditors ii, iv. vi. vii. viii. 3. Independent auditors report 12-15 4, Statement of financial activities 16 5. Balance sheet 17 6. Statement of casli flows 7. Notes to the financial statemeiits 19-31
CARE (CHRISTIAN ACTION RE4 SEARCH & EDUCATION) Charity information Charity registration number: 1066963 Scottish charity registration llumber: SC038911 Company registration number: 3481417 Registered office: 53 Romney Street Westiniitster London SWIP 3RF Banliers: Lloyds TSB plc Westminster House 4 Dean Stanley Streei London SWIP 3HU Co-operative Bank Pl 62-64 SOuthptOn Row Holbom London WCIB 4ND Auditor5: UHY Ha¢1( Young Fitch Limited Suite 2.06 Custom House Custom House Square Belfast BTI 3ET Solicitors: Moore Barlow LLP lie Oriel Sydenham Road Guilford GUI 3SR
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Trustees, re ort for the ear ended 31 March 2024 The Trustees present their report and the audited financial stateinent8 of the charity for the year ended 31 March 2024, which are also prepared to meet the requireinents for a directors, Teport and accounts for Companies Act PUTposes. Tlie Trustees li&ve adopted the provisiolls of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" I. Governance Governing document CARE (Christian Action Research & Education) is a registered charity both in England & Wales and Scotland and a company limited by guarltee. The organisation's governing documents are its Memorandum and Articles of Association dated 8 December 1997, which were last amended 01128 March 2007. Councll of Management (Trustees) The Mernbe of the Board of Trustees (known as the Council of Maiiagement in ow Articles of Association) are its directors for the piirpose of cojllpany law and Trustecs for the purpose of charity law and throughout this report are collectively referred to as 'the Trustees,. The Trust¢es serving during tlie year are: Mr John O, Brien (Chair of Trustees) Mr Michael, Grten Sir Charles Hoare Bt. Iwrs Lucy Roclielle Mr Gareth Russell The Revd Charles Trefusis In die event of a windiiig up of Ilie oharity, each niember is liable to contribute an amount not exceeding £1 O. The members are also its Trustees and therefore at the year end the number of members was six. The following non-eMberS attend the Board of Trustees meettng by iiivitation.. Rev Lyndon Bowring (Co-founder of CARE) Mr Ross Hendry (in his capacity as Chief Executive Officer) From Novemb¢r 2023 Mr Tom Kendall also atteiided Board meetings as the Company Secretary (confirnied by Board on 30 November 2023). Appointment of Trustees The Chair of Trustees is nominated by the Board of Trustees. One third (currently two) of the Trustees elected or re-elected annually by members attendlng the Annual General Meeting and serve for a period of three years. All inembers are circulated witli invitations to nominate trustees, prior to tlie AGM. Micliael Green and Lucy Roclielle were re-elected at the AGM in November 2023.
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Trustees, responsibilities CARE is a registered Christian charity providing resources and helping to bring Christian insight and experience to InatteTS of public policy to coinplement practical caring initiatives, particularly on behalf of diose Inost in need. Eacli year the Trustees review Job Descriptions for Trustees, the Chair of Trustee5, CEO, and Compaiiy Secretary. In additio tlie Board define their reserved responsibilities in a scliedule reviewed annually. All matters not specifically stated as reserved are delegated to the Chief Executive Officer, The chity'S TrLlSt¢es l)av¢ complied with their duty in Section 4 of tlie Charities Act 2006 to have due regard to Public Benefit guidance issued by the Charity Commission have taken account of it iii planning future activities. The Trustees do not reoeive any private benefit from the charity, otlier th] set out in note 21 and die section on Related Parties. Related parties Sir Charles Hohre, Trustee, received reinuneration froin CARE as a consultant for public policy and governance advice supporting CARE, including supporting the cliarity's work at die European Leadeiship Forum. These transactions are disclosed in note 21 of these accounts. Trustee induction and training New Trustees will undergo an induction programme led by the CIIpAir of Trustees supported by the Company Secretary. Tbis includes an introdiiction to CARE, its work and history, as well as the legal, fiduciary, leadership, and strategic responsibilities and duties as a Trustee. Every Trustee must demonstrate tlieir commitinent to CARE'S stateinent of faith that is consistent with evangelical biblical belief and its application to the leadership of the charity. In ApTiI 2023 the Board eiigaged a11 external consultancy to uiidertake a govemance review. Th(s was completed in March 2024, Tliis work was Part of CARE'S coininitmeiit to ensuring tliat its governance arrangements reflect good practice and the VIew'S recoinmendations have been considered a]id are all reflected iii the Board's ongoing work. II. Or anisation and structure The Board meets quarterly in order to ensure the charity is meeting its charitable objects and legal obligations. They receive regular reports from tlie Cliief Executive OtTicer regarding tlie geiieral OEEration of tlie charity ag well as updates on major projects. Trustees are responsible fDr the financial sustainability of the charity as well as compli1C¢ witli charity aiid employment law. The Cliief Ixecutive Officer is appointed by tlie Trustees lo impleinent the charity's strategic vision and manage the day-to-day operations of tlie charity and reports to the CliaiT of Trustees. The Cliief E4xecutive Officer manages a team of foiw Directors responsible for Policy and Advocacy, Commuiiications and Engagement, Phklaiithropy, and the Institute for Faith and Culture. ThKS group constitutes the Senior Lead¢rsl)ip Team who ineet on a monthly basis. Remuneration of the Chief Executive and his team is approved by the Board of Trustees as part of the ilnnual Busincss Plan and Budget approval process, It seeks to reflect the cost of living and wider inarket rates.
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) III. Risk mana ement CorpOte Tisk is reviewed at each Board of Trustee meeting, where a strategiG risk register is considered and maintained. In N4arcb 2024 the top scored risks for CARE, pre-lnitigations, were considered to be: l. A 5ig]ificant drop in voluntary incorne and regular giving. 2. Attacks on the charity's reputstion due to maintaining a biblical position on Icvy social issues. 3, Challenges recruiting top talent to fill key staffing gaps. 4. Ensuriiig capacity within a small ChltY to coinply with charity law and otlier legal I'equirements and guidance at a]1 times. These risl(s were consistent with those identified in in the last Annual Report and Accounts, altliough their scoring may liave changed because of the ongoing cost of living crisis and Government changes throughout 2023-2024 year. Trustees continue to review and update niitigations and actions that reduce these risks at each meeting. IV. Summar of activi How we seek to meet our charitable objects. CARE'S charitable object is set out in our governing documents. It is 44the advancement and propagation of the Christian Gospel alld iii particular Cliristian teaching as it bears on or affects nat5.onal and individual morality and ethics." Our Vision Stateinent is: Politics renewed,. lives Iransformed Our mission is to sp¢ak God's better story into public life. We do this by: i. Engaging Èlle cliurch, because we believe the Church is God's action-plan for changing the world,. ii. EquippiHgFoliticians and those wlio influence piiblic policy because our leaders need to be presented with wisdom froin God's Word and rigorous researdi. and iii. E7npowerlng]ulure leaders so tliat our society and communities are led well by people who seelc to maintain die highest standards in piiblic life. We a150 continue to support the delivery of social actioii services both through direct delivery and indirectly through grants. An overview of our activAties to March 2024 CARE has an Annual Business Pl] that sets out the work it inteiids to carry out to m¢et the aiins set oirt V4bove. This is reflected in each member of staff s objectives. Tlie overall work is monitored and reviewed by the Chief Bx¢¢utiv¢ OfFicer who is accountable to tlie Board, In 2023-24 we had four Corpoizte Objectives: To implement the new strategy with a talente( Inission focused leam woj'king effectively in a professional environment. Reach, engage, and recruit more Parliamentary and church supporters and doiiors. Identify and achieve tangible successes thi'ough our campaign and public affairs work, that we Gelebrate inteTnally and with external aiidiences. Use significant alIVersarY years for CARE and the Leadership PrograMe to honour our failhFi supportei's and launcli new major projects that will secure CARE'S fiiture role and place in the public sque. To realise these objectives, we set OlielveS the goal of delivering 12 major projects alongside our business as usiial. ii. iv.
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Four of the 12 projects were fully delivered. A further six of the projects delivered at lea¥[ 25 per cent of the deliverables we set as a target, and in most cases this percentage was inuch higher. We did not deliver three projects, and this was due to delays in recruitinent of key staff, capacity, resources, or issues with third paty suppliers. Most of the taTgets not oompleted by March 2024 will be achieved during 2024-25. Some of our main achievements and highlights from the last year include: Engaglng the Church Educational content Our online offer and resources available to individuals and churche5 grew significantly as we began to roll out our strntegic vision to supporters and partners, As well as resources explaining CARE'S worlc and mission we produced 'biblical deep dive, guides on issues including geiider identity, alongside prayer guides for our different causes that are now widely iised, Tlie Cornmunications and Engagement team also published online resources including Fowidations (providing an overview of our Christian worldview) and video resources for cliurclies and sinall groups. Direct cliurch and su orter en ement Our Church Eiigagement teains in England, Scotland aiid Nord]ern Ireland visited more churches ld delivered more speaking engageinents in the year to March 2024 tlian in anytiine over tlie previoiis five years, Each of the tlyee nations has a bespoke brochure with our speaking, engagements and teaching offer to churches. We also grew Icey strategic partnerships'and relationships with different denominations and church networks including Affinity, Federation of Indep¢ndent Evangelicak Churches (FIEC), ]d Tlie Assemblies of God. We continued to Iiost supporter events online and in-person across the country. These serve as an introduction to CARE foi potsntial new siipporters. For cUellt supporters these events seTve as updates on our Work and an opportunity to comiect widi our co-founder and the Seiiior Leadersliip Team. CARE'S onliiie ]d media resence Our online preseiice coiitinued to grow substantially in the year to Marcli 2024, witli a rise of at least 50 % (and often substantially more) across all oiir digital channels. New content was launched (e.g. regul podcasts liosted by our Director of Communications and Engagn¢t &nd our Head of Content) and work began on two new websites: one specifically for th¢ 2024 UK General Election and the other a new main website to better reflect our strategic vision. We Tea]is¢d similar success in rdisillg awareness of CIlRE and our causes across print and broadcast media. As well as serving the Christian media sector we featured regularly in national and regional pres5 and programming including BBC, Channel 4, Tlie Telegrapli, The Times, Daily Mail, ajid other n&tiOilELI papers. CARE spokespeople regularly appeared as expert commentators in Scotland and Northern Ireland as well as UK piiblications ]d programmes. Equipping policy makers Wc continued to eqLiiP policy makers, especially politicians and law makers in Westminster, Edinburgh, and Belfast, with a biblical perspective and research on a range of issues and causes. We responded to UK goverDent's, Devolved Adrninistrations,, and statutory agency c011sultations, and submitted evidence to several Inquiries on issues relating to nine different policy areas. work in this &rea also included briefings and iiotes on specific Bills, and debates for PaTliaJnentaTians and Asseinbly members, drafting and supporting amendments to legislation, as well as contributing expertise to coalitions and other orgai]isations that we partner with on specific issues. Soine of our Icey areas of work in the year to March 2024 included:
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Online Safe Act CARE was a leading voice in the coalition of organisations that sought to amend the Bill to provide increased protections for children against Iiarinful content. In July 2023, the Government accepted CARE'S key demands in relation to age verification for pornography in tlie Bill. Tliis was a significant victory and the culinination Df many years, work in this area. Because in large part of CARE'S efforts, pornography is named as a harm to childTen on the face of the Act and we have concrete commitinents around age verification and its iinplementation, We have continued to work with partners to ensure tlie provisions in the Bill are fully impleinented, Gamblin Reforin CARE responded to a number of consultations across the year on gambling reforms including the Department for CultUTe Media aijd Sport's (DCMS) White Paper and consultations by the Gambling Cominission. We also submitted evidence to DCMS, Committee Inquiry on gambling regulation. OUT focus has been on protecting the vulnerable from exploitation by the gambling industry. We also held constructive discussions with politicians in Westminster, Edinburgh, and Belfast on potential reforms, Huinan Trafficliin We provided briefings, evidence and amendments to ParI1Me11tarIans on tlie Illegal Migration Bill and the Rwanda Bill. OUT work highliglited tlie negative impact aspects of both pieces of legislation would have on trafficked people. We built and continue to build strong relationships acTOSS Parliament, and a number of our suggested amendmeiits to the Illegal Migration Bill, were passed by the Lords. Asgisted Suicide Our work on assisted suicide mainly focused on raising awareness amongst politicians, the Jnedia, and Clyistians about the dgeTS and implications of legislation in tliis area, We worked both independently and through coalitions such as Care Not Killing to support work on this issiie across all parts of tlie UIC. Our work particularly focused on consultations on proposed legislation in tlie Scottish ParlInent the Isle of Man and Jersey and we highl1)tCd how diis would impact the r¢st of the UK. irlliin of Life Our work on protecting children froin conception was focwed on presenting a case for resisting furtlier liberalisation of abortÈon laws and seeking equality of protection for disabled people ld unborn babies with a diagnosed disability that demonstrated compassion for the Jnother and the cliild. R¢latioTJshi d Sex Educatioii RSE We einbarlced on a inajor plece of research iiivolving a Freedom of Information request sent to over 4,000 scliools across Bngland asliing about the RSE cU1clUM and resources, alongside a survey of over 1,000 parents, investigating awareness levels of their Tkghts and what was being taughl in their children's schools. The finding8 informed our response to a Departinent for Education consultation on RSE. Other olic areas CARE'S new strategic vision sets out a frarn.ework whereby our policy and public afftirs work will be driven by tlie goal of empoweriiig md s¢¢kiiig th¢ flourishing of particular vulnerable groups. Namely.. cliildren at risk of harin, fainilies struggling to cope, people iinpacted by harmful behaviours, and tlie elderly. Work began dui'ing 2023 and early 2024 to develop a biblical better story for each of these groups and identify challenges to their flourishing where CARE could have an impact. On completion, thi8 work will be the central plank of CARE'S public policy work iii the second half of 2024.
CARE (CHRISTIAN ACTIOIY RESEIARCH & EDUCATION) 4 mpowering future leaders Institute for Faitli and Culture: L¢adersliip Programme The Leadership Progrdnme is a year-long programme that gives CILristian graduates the opportunity to work for a Parliamentarian or NGO, whilst also participating in an intensive study progranime for one day a week, and regular study weekends. In the surnmer of 2023, tli¢ twelv¢ 2022-23 participants coinpleted the Leader511ip Prograrnme successfully. Some remain working in Westh]iiister in Parliamentsry or public affairs roles. while others have continued professional careers in other fields. The fifteen placements for 2023-2024 comprises tlie largest cohort of graduates and placemeiits in Parlillellt for fourteen years. Many of the placements have been new, with Parliamentarians who had no prior affiliation to CARE. Placements have beeii witli Ineinbers in both Houses and across parties as well as Crossbench Peers. These will be con]pleted in July 2024. The IFC education programme, running alongside die placernents, drew on leading theologians, acad¢Jnics, leaders in politlC5, law, business and the church, Alumni development In 2023.24 we invested in developing an alurnni network. In June 2023 we celebrated 30 years of the PrOamme with an event in PaYlian]ent attended by oveT 120 people. As well as hosting dinners for a]umni year group5 we also launched ali alumni newsletter in Spring 2024. In November 2023 we published 30 stories of aluinni to reflect the impact of the Programme over the last 30 years. This was well received by bodi supporters and alumni. Euro ean Leader81]i Forum ELF CARE was once again responsible for leading the PolitlGS and Society Network session at the European Leaderslllp Foruin (ELF) in May 2024. Tlie confereiice was attended by over 800 people, Inaiiily dr&wn from across tlie European continent, with a particu]&T focus on Central wid Eastern Europeaii participatioii. Tl]rougli our work at ELF, we have an opportunity to equip leaders to infiuence society through a Christian worldview and to be salt and light in their context. The Politics and Society Network wnsisted of 30 members drawn from 16 diffeTent nations. Supporting praictieal expressions linked to our areas of research and education. OPEN OPEN continues to equip cliurclies to uiiderstand the pastoral issues siirrouiidiiig uniiiteiided pregiiancyj abortion and other baby loss. In the year up March 2024 OPEN continued to deliver courses and talks online in addition to training sessions delivered in person to cliurches and groups of people interested iii iiiiderstanding and bringing a pastoral responge to tlie issues of crisis pregnancy, abortion and otlier pregnancy loss. The service is expaiiding, and a recruitment process began to appoint new consultantg in Nortliern Irel&TJd, and ¬h¢r to England, Scotland and Wales (appointments were made lli May and June 2024 respectively), for Schools Pray for Schools is a partnership with Youth for Christ, Association of Christian Teacliers, Open the Boolc, Prayer Spaces in Schools, Scripture Union aiid Free Chiirches Group. Its ambitious vision is for every school in t]ie UK to be a 'prayed for, school. Ten meetings were held across tlie year, wliere supiN)rters shared prayer requests and prayed for s¢liools locally and nationally, Tl]roughout the year we seiit out resources to inform and ¢nUrage prayer, goiiig to 800 email recipients in total.
CARE (CHRISTIAN ACTIofq RESEARCH & EDUCATIOIY) Other notable worli completed During September 2023 we undertook a major building project to create a new modern meeting space on our ground floor. This is the first phase of a larger redevelopment projecl that we aim to begin in 2025126. Tlie new ineeting room is larger, better equipped and will, in time form part of a fully accessible meeting and worlLspace offer for those with restricted mobility or disability. The larger meeting space deinonstrated a number of beiiefits, such as enabling us to increase the Leadersliip Prograrnme membership to 15. We offer the Ineeting room free of charge to other Christian charities and partners, and tliis IS proved very popular with the meeting space used by external organisations on a weekly basis. In October 2023 we held a IArge supporter event in central London to celebrate our 40 anniversary. Ovei. 400 people atteiided the celebration, iiicluding many church leaders and suppoiters who have partnered in our work for several decades. External speakers included theologian RT Kendall and evangelist Glen Scrivener. The inain event was preceded by a lunch for church leaders and prelIerS. The event received very Positive feedback from supporters, and we were able to sliare elements Df the day through film and a hard copy summary for tliose iu]able to attend in person through our website. Grants awarded to other organisatlons Over the course of the year, we supported other organisations tliat undertaking iinportant work consisteiit with our own charitable objects. Many of these provide practical support and help to their beneficiaries ni ways tliat CARE oannot. Care Not Killing.. Promoting resources in support of better eiid of life care and opposition to assisted siiicide legislation. Forum for c11Stian Leaders: to provide scholarships to young or resource poor Christian Leaders lo attend ELF and its Politi¢s and Society Network Priorities for 202425 Our Priorities foT 2024-25 are: l. To equip Christians and churches across the UK to have informed engagem¢nt with their local Parliamentary candidates and nalional debates during the UK General Election. 2. We will realise at least one legislative change or Governinent commitment to action that we have calle41 for. 3. To increase the number of supporters and donors and deepen the engagement with those who we already worlc with. 4. New partnerships and network8 of public square leaders Ivill be established to promote, deliver, and realise our mission. We have set a goal of delivering 24 projects alongside our bilnesS usual to realise these objcctives. Tliese are defined in an Anniial Business Plan that every meinber of the charity lias access to and will be regularly tracked and monitored by the Senior Leadership Team. V. Financial ractices Fundraising Practice Tlie large majority of CARE'S funding is received froin thous&nds of faithful.UK suppotters who make regular donations, aiid we continue to give thanlcs for Ilieir generosity. CARE'S fundraising is compliant with the recognised standards of fundraisiiig set out in t1 Code of Fundraising Practice. CARE paiticipates kn the Funth'aising Regulator's voluntary regulatory i'egime. No ci)mplainls abolit the cli&'ity's fundraising activities were received during tlie 2023-24 finECl year.
CAREI (CHRISTIAN ACTION RESEARCH & EDUCATIOIY) All requests for donations are compliant with GDPR Regulations and those responsible for fundraising are carefully monitored. We mattage all our mailings and correspondence with supporters in line with their communication Preferences. All correspondence provides the recipient with inforniation about how they can be removed from our mailing lists, We do not undertake telephone ftLn(baising, and we ensure th&t our fundraising requests are sensitive and without pressure. Financia] review During th¢ year, CARE made a deficit on unrestricted funds of £98,387 (2023: £122,262 surplu8). This in¢lud¢s the receipt of legacies totaIling £138,763 (2023: £303,568). The Trustees remain committed to ensuring that CARE has in place a robust biidget and financial controls to ensure the detivery of CARE'S objectives. Net movetnent in funds for the year aniounted to £112,965 net expenditure (2023: £114,746 net income). Unrestricted fund balances carried forward at the year-end were £4,445,123 (2023: £4,543,510). Restricted funds carried fonvard at the year-end amounted to £43,819 (2023: £58,397). Investment policy Under the Memordndum and Articles of Association, CARE has the power to malce any investment which the Trustees see fit. Since CARE intends to hold limited reseLwes, most funds are held in instant access th deposit accounts. Where significant money is being held in Restricted and Designated Funds, the Trustes will invost in fixed-term accounts of up to six montlis. ReSceS policy CARE has no cunrnt involvement in major capital programmes, nor does it have any directly dependent beneficiaries. However, a major refurbiyhment of the CARE Westminster office nY begin in 2025126. It is expected that the Earge majority of funding required will be fundraised. Nevertheless, trustees feel At is appropriate to hold free reserve equivalent to four to six months, operating costs (approximately £660,000) within the n&Yt year. Free reserves are calculated as total general funds elUdittg tangible fixed assets. At the end of the year, free reserves were £1,521,529 (2023: £1,496,964), Trustees will continii¢ to review their investinent strategy anniwlly and explore the use of investment programmes for an appropriate proportion of free reserves in order to protect the long-term interests of the charity. Assessment of CARE as a 'Golng Concern, CARE is in a strong financial position with reserves significantly above the Reserves Policy. Each year Trustees approve an annual cbarity business plan that sets out how it intends to use is financial resources. At the beginning of the financial y¢ar the Annual Business Plan and Budget forecast a significant deficit link¢d to the development of work and recrui1ment designed to raise the long-terin income of the charity. Much of this work was undertaken but also delayed. Therefore, the forecast deficit was nol realised. Tl]is will carry into 2024-25 and 2025-26 with the aini of turlling the Chlty to breakeven and then SuLuS over a flve- year cycle by realising a new higher annual average income than is Gurrently the case. Trustees See this investment operating within tlie Reserves Policy and strengthening all already good operating position. 'or this reaso Trustees agree that CARE meets all reasonable going concern tests. io
CARE (CHRISTIAN ACTION RESEARCH & EDUCATIOIY) VI. Statement of Trustees, res onsAbilitie8 Company law requires Trustees to prepare financial statements for each finallcial year which give a true and fair view of the state of affairs of the charity as at the balance sheet date, and of their income and expenditure for the fAnarLcial year. In prepillg thosc financial statenLcnts, the Trustecs are required to: select suitable accounting policies and then apply them consistently9 make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards and Statements of Reconllnend¢d Practice have been followed, subject to any material departures disclosed and explained in the financial statements, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in op¢ration. The Trustees are responsible for maintaining proper accounting records which dis¢los¢ with reOllable accuracy at any time the financial position of the charity and to enable them to ensure that the financial Statements comply with Companies Act 2006. They are also responsiblc for safeguarding the assets of the charity and hence for taking reasoriable steps for the prevention and detection of fraud and other irr¢gulpJities. VII. Statement as to disclosure of information to auditors The Truste¢s have taken all the necessary steps to make us aware, as Trustees, of any relevant audit infomiation and to establish that the auditors are aware of that inforniation. As far as the Trustees are aware, there is no relevant audit information of which the oharity's auditors are unaware. vItL Audito A resolution to re-appoint UHY Hacker Young Fitch as auditors will be proposed at the forthcoming Annual General Meeting. These Accounts have been prepared in accordance with the provisions applicable to compallies subject to the Small Compat]ies' regime. Approved by the Council of Management on 26 September 2024 and signed on their behalf by MrJo James 'Bri¢n, Chair of Trust¢es
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Inde endent Auditor's Re Research and Education ort to the Trustees of CARE Christian Action OpAnion We Iiave audited the fncIal statements of CARE (Christian Action Research & Educatioii) (tlie '¢liaritable ¢ornpaiiy') for tlie year ended 31 March 2024 which comprise the Stateinent of fInancial tIvItIes, tlie Balance sheet, the Statement of cash flows and the related notes, including a suminary of sigiiificant accounting policies. The financial reporting frlleW0rk that has been applied in their preparation is applicable law &nd United Icingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Icingdom Generally Accepted Accounting Practice). In our opinion tlie financia] statements.. give a true and fair view of the state of tlie charitable company's affairs as at 31 March 2024 and of its incoining resources and application of resources, includll1g its income and expenditure for the year then elided. have beeii properly ptepared in accordance witli Unlted Icingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006, Charities Act 2011, the Charkties ld Trustee Investment (Scotland) Act 2005 and regulatioii 8 of tlie Charities Accounts (ScodaDd) RFgul&tions 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditiiig (UIC) (ISAS (UK)) and applicable law. Our reSpOl6111tieS under those standards are further described in the Auditors, responsibilities for tlie audit of tlie financial statements section of our report, We are independent of tlie charitable coinpany in accordance widi the ethical requirements tliat ¢ir¢ relevant to our audit of the fill1a] statejneiits in the United Kingdoin, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities Én accordance with diese requirements, We believe that the audit evidence we have obtained is sufficient appropriate to provide a basis for our opinion. Conclusions relatlllg to going concern In auditing the financial statemaits, we bave coiicluded that the Trustees, use of Ihe going concern basis of accoimting in the preparation of the fllwicial statthnents is appropriate. Based on tlie work we have perforined we have not identified any inaterial uiicertainties relating to events or conditions that, individually or collectively, may oast sigiiificant doiibt on tlie charitable company's ability to coiitinue as a going concern for a period of at least twelve montlis ftorn when the financial statements are authorised for issue. Our respoiisibilities and the responsibilities of the Trustees with respect to going coiicern are described in the relevtLnt sections of this report. Other inforniation Tlie other information comprises the information included in the Annual report other thanlbe financial sfatcments and our Auditors, report tliereon. The Trustees are responsible for the other infotinatioii contained widiin the Annual report. OLir opinion on tlie financial stateinents does not cover the other information and, except to tlie extent otlierwise explicitly stated in our report, we do not express any fonn of assurance Goiiclusion tliereon. Our responsibility is to read tlie other inforination and, iii doing so, coi)sider whether the other information is materiaIly inconsistent with the financial statemeiits or our knowledge obtained in the cowse of tlie audit, or otlierwise appears to be materially misstated. 12
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Other information (coiitinued) If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstate]nent in the financial statemeiits themselves. If, baged on the work we have performed, we conclude that there is a material inisstatement of tliis otlier infonnation, we are required to report that fact. We have nothing to report in this reg8Jd. Opinions on other matters prescribed by the Companies Act 2006 tn oiir Opinio based on the worlc undertaken in the course of the audit: the inforjnation given in the TStees, report for the financial year for which tlie fiiiancial stateinents are prepared is conslstent with the fanCIal statemeiits. the Trustees, report lias been prepared in accordance with applicable legal reqiiirements. Matters on whlch we are requlred to report by exception In the liglit of our Iciiowledge and understanding of the Chitable coinpany and its ¢nviroT)rnent obtairjcd in the course of the audit, we have not identified inaterial n]isstatements in tlie Trustees, report, We have notliing to report in respect of tlie following matters in relation to whicli Coinpanies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as aLnended) require us to report to you if, in our opinion.. adequate accoiinting records have not beeii Icept, or returns adequate for our audit have not been received from braiiclies not visited by us- or the fitL4ncial statements are not in agreeellt with the accounting records and retunis. or certain disclosures of Trustees, reinuneratioii specifi¢d by law are not Inade. or we have not received all the infDrination and explanations we require for our audit. or the Trustee8 were iiot entit]¢d to prepare tlie financial stateinents in accordance with the S[1 companies regime and te advantage of the small companies, exeinptions in preparing the Trustees, report and from the requirement to Prepare a Strategic report. Responsfibllities of Trustees As explained niore fully in the Tiustees, resw)nsibilities stateineiit, t1 Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparntion of the financial statements and for being satisfied that tliey give a true and fair view, and for siich internal control as the Trustees detei'mine is iiecessary to enable tli¢ preparation of financial statemeiits that are free froin material misstalement, wliether due to fraud or error. In preparing the fiiiancial statements, the Trustees are responsible for assessing tlie charitable company's ability to continue as a going concem, disclosing, as applicable, Inatters related to going concern and iising the gollig concern basis of accounting unless Ihe Trustees either intend to liquidate the c1]ltable coinpany or to cease operatioiis, or liav¢ no realistic alternative bLlt to do so, 13
CARE (CHRISTIAN ACTION RE4 SEARCH & EDUCATION) Auditor's respollsibilities for the audit of the financlal statements We Iiave been appointed as auditor linder section 44(1)(c) of the Charities and Trustee Investment (Scotlaiid) Act 2005 and under th¢ Coinpauies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasoiiable assurance about wlieth¢r the fjnaiicial stateinents as a wliole are free from material misstatement, w11ether due to fraud or error, and to IU¢ an Auditors, report that includes our opinion. Reasonable assurance is a Iiigh level of assurance, but is not a guJrantee 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 illaterial if, individually or in the aggregate, they could reasonably be expected to influence the econoinic decisions of users taken on the basis of these financial statements. Irregularities, including fraiid, are instanoes of non-coinpliance with laws and regulations. We design procedures in line with oiir respoiisibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to wliich our procedures are capable of detecting irregularities, including fraud is detailed below,. Our approacli to identifying and assessing the risks of material rnisststement in respect of irregLilarities, including fraud and non-coinpliance with laws and regulations, was as follows. The engagement partner ensured that the engagement teain rollectively had the appropriate coinpetence, capabilities and skills to identify or recognise non-compliance wilh applicable laws and regulations. As part of the audit in accordance with ISAS (UIC) we exercised professional judgment and maintained professional scepticism througliout the audit. We identified the laws and regulations applicable to the company through discussions with directors and otlier m&nagemenL and from our coinmercial knowledge and experience of the sector and we focused on specific laws ]d relIationS which we consideTed may liavc a diTect materia] effect on tlie fInancial statements or the operations of thc ooinpany, llicliiding d)¢ Companies Act 2006 and UK Charities Act, tlie Ch.AtieS and Trustee Investment (Scotland) Act 2005, Charitie5 Accoiints (Scotland) Regulations 2006, data profrction, employment and health and safety legislation. We assessed the susceptibility of the ¢oiJ)pany's financial staten]ents to material misstateJnen( inoluding obtiining an understanding of how flld might occur, by inaking enquiries of Mgernent as to wliere they considered tliere was susceptibility to fraud, their knowledge of actiial, suspected and alleged fraud and considering the internal conlrols in place to mitigate risl(s of fraiid and iion-compliance with laws and regulations. We obtained an understandiiig of internal controls relevant to the audit in order to desi1 audit procedures that were appropriate An the circumstances but Thot for the purpose of expressing an opinion of the effectiveness of the Company's intema] Controls. To address the rksk of fraud tlirougli inan&gemeiit bias and override of controls, we perfonned analytical procedures to ideiitify any unusual or unexpected relationships. tested journal entries to identify unusual transactions,. evaluated the appropriateness of accounting policies used, including mEmagements' use of tlie going concei'n basis o'f accounting> and the reas01b1eness of Acrountiiig estimates and related disclosures made by management. and investigated the ratioiiale behind significant or unusual transactions. Tn response to the risk of irregiilaritie5 and non-compliance with laws and regulatioiis, we designed procedures which included but were not limited to agreeing fin&icial statement disclcTrsures to underlying supportii documentation; reading the minutes of i]]eetings of those charged witli governance. and enquiring of ]lllagement as to actual ]d potential litigation and claiins. Because of the inherent limitations of an audit, there is a rislc that we will not detect all irregularities, including those leading to a mateiial misstateinent in the financial statements or non-compliance witli regLilation. This risk increases the more that COLnpliance with a law or i'egul&tion is reiDoved from the events and tran5actioiis reflected in tlie financial stateinents, as we will be less lilcely to become aware of instances of non-cojnpliance. The risk is also greater regarding irregularÉties occuri'ing due to fi?iid rather tlian error, as fTaud involves iiiteiitional conoealrnent, forgery, collusioN omission or misrepresentation. 14
CARE (CHRISTIAN ACTIOIY RESEARCH & EDUCATIOIY) Auditor's responsibilities for the audit of the financial statements (colltfinued) A furtlier description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uldauditOTsresponsibilities. This description fornis part of our Auditors, report. Use of the audit report This report is made solely to tlie chaTitable coinpany'5 Ineinbers, as a body? in acwrdance witli Chapter 3 of Part 16 of the Companies Act 2006, and to the cliaritable company's trustees, as a body, in accordance witli regulation 10 of tlie Charities Accounts (Scotland) Regulations 2006. Our audit worlc ha5 be¢n undertaken so that we might state to tlie charitable coinpany's members and 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 iiot accept or assutne responsibility to anyone other than the charitable cojnpany and its members, as a body, for oiir audit worK for tl]is repor¢ or for the opinions we have fonned. Signed: Michael Fitch (Senlor ststutory auditor) for and on behalf of UHY Hacker Young Fitch Limited Statutory Auditors & Chartered Accountants Suite 2.06, Custoin House Custoin House Square Belfast BTI 3ET Date,. UHY Hacker Young Fitch Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 15
CARE (CHRISTIAN ACTION REI SEARCH & EDUCATION) Statement of Financlal ActiviÉfies for the year ended 31 March 2024 (including the Income and Expenditure Account) Unrestricted Restricted funds funds Total 2024 Total 2023 Note5 IIYCOME FROM: Donations and legacies 2,111,419 650 2,112,069 2,208,034 Charltsble activities Engaging Public Policy Makers 24 Investments B]k interest received Dividend incoine 2,986 11,409 2,986 11,409 1,286 12,208 Total income 2.125,814 650 2,126,464 2,221,552 EXPENDITUllE ON: Raising lld8 257,336 257,336 212,259 Charltable activittes Educating churcli and public opinion Engaging public policy inakers Fmpowering young leaders 769,839 1,001,458 218,704 769,839 741,503 1,001,458 886,865 15,228 233,932 228,662 Total expenditure 2,247,337 15,228 2,262,565 2,069,289 Net (expenditure)/income before revaluations (121,523) (14,578) (136,101) 152,263 Gainl(Loss) on revaluation of investinents 23,136 23,136 (37,517) Net inoven]ent in funds (98,387) (14,578) (112,965) 114,746 Total funds brought'forward 15,16,17 4,543,510 58,397 4,601,907 4,487,161 Tothl fund5 carried forward 15,16,17 4,445,123 43,819 4,488,942 4,601,907 There are no recognised gains or losses in either the current or previous year other than those included in the Statemeiit of Financial Activities. All activities relate to continuing operations. 16
CARE (CHRISTLIN ACTION SEARCH & EDUCATION) Balance sheet Ydt 31 March 2024 2024 2023 Notes Flxed assets Tangible assets Investments 2,910,209 551,167 2,926,772 520,164 10 3,461,376 3,446,936 Current asset8 Stocks Debto Cash at b8DI( and in Iwid 11 12 1,500 64,036 1,113,705 1,500 57,464 1,275,622 1,179,241 1,334,586 Credito. Amounts falling due within one year (151,675) (179,615) Net current assets 1,027,566 1,154,971 4,488,942 4,601,907 Net assets 4,488,942 4,601,907 Represented by: Unrestricted funds Restrict¢d thnds 15 17 4,445,123 43,819 4,543,510 58,397 4,488,942 4,601,907 These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the Sn11 companies, regiLlIe. Approved by the Trustees on 26 September 2024 and signed on their behalf by: Mr John J8Jnes 'Brien, Chair of Trustees Cornpany Number: 3481417 17
CARE (CHRISTIAN ACTION RESEARCH & EDUCATIOIY) Statement of Cash Flojvs for the Year Ended 31 March 2024 2024 2023 Cash flow5 from operating activities Net incomd{expenditure) for the financial year (112,965) 114,746 Adjustments for: Depreciation of tangible assets Interest received 27,291 (2,986) (11,409) (23,136) (6,572) (27,940) 28,714 (1,286) (12,208) 37,517 12,821 62,847 Dividends received (Gains)Ilosses on investments (Increase)Idecrease iii trade and otlier debtors (Decrease)lincrease in trdde and other creditors Cash from operatiohs (157,717) 243.151 Cash flows from investRng a¢tAvities Pwchase of tIgIble assets PUrche of invesbnents (10,728) (123,536) 125,861 2,986 11,409 (11,303) (86,835) 68,736 1,286 12,208 Proceeds from sale of investtnents Inter¢st received Dividends received Net eash from investing activities 5,992 (15,908) Net (decrease}/Ancrease in cash and cash equivalents (151,725) 227,243 Cash ld cash equivalents at st8Jt of year 1,278,876 1,051,633 Cash and cash equivalents at the end of the year I,E27,15l 1,278,876 'Cash 8J]d cash equivalents, consist of "Cash at bank and in hand" £1,113,705 (2023: £1,275,622) and "Cash held as part of the investsnent portfolio" £13,446 (2023: £3,254). 18
CARE (CHRISTIAN ACTIOIY RESEARCH & EDUCATION) Notes to the financial statements for the year ended 31 March 2024 Company information CARE is & company limited by guarantee and registered in England and Wales, registration nllber 348 1417, and a cliaTlty registered in England and Wales number 1066963 and registered in Scotland number SC03891 l. The registered office is 53 Rornney Street Westtninster, London SWIP 3RF. Basis of preparation of financial statement5 The financial statements have been prepared in accordance with Accounting and Reporting by Charities,. Statement of R¢commend¢d Practioe applicable to cliarities PTeparing their accounts iii accordance with the Financial Reporti11g Standard applicable in the UK aiid Republic of Ireland (FRS102) (effective January 2019)- (Charities SORP (FRSI 02)), and the Companies Act 2006. CARE meets the definition of a public b¢Jiefit entity linder FRS102. Assets and liabilities are initially recognised at historical cost or tr]saCtIon value uiiless otlierwise ststed in the relevlt accounting policy note. Tlie Trustees have agreed detailed budgets for the year ended 31 March 2025 and reviewed casliflow forecasts to 30 SeptembeT 2025. Both sources of income and types of expenditure have beeii reviewed and tlie TTUSt¢es have also considered tlie charity:s working capital aiid capital expenditure requirements. As a result of the loregoing tlie Tnjstees are satisfied that it is appropriate to prepare the accounts on 8 going concem basis. Ffixed assets and depreciation Tlie threshold for capitalisation of assets is set al £1,000 per item. Depreciation is provided by the charity to MTit¢ off th¢ cost of tangible fixed assets by equal instal]nents over their estimated useful econoinic lives as follows., Freehold bukldings Office equipment Motor veliicles Coiyjputer eqiiipmeiit - 50 years - 7 years - 4 years 4 years Provision is made for depreciation on the freehold ExDperty but not the related land. The freehold building was independeiitly Tevalued in December 2012 and the market value was deemed to be £3,095,000. Tl]e Trustees consider diat £890,000 of tl)is revaluation relates to the cost of the building and dierefore tIIx5 amount has beeii depreciated accordingly. Leases Rentals p&yable under operating leases are charged on a straiglit-line basis over tlie terLn of the lease, Pension c05t5 The charity does not operate its own scheme. Contributioi]s are inade to a group personal pension scheine. The amount charged to the Statement of FIn]C&&I Activities represents the contributions payable to such scheines in respect of the accounting period and amounted to £103,717 (2022: £96,984). Stocl Stocks are stated al the Eower of cost and net i'ealisable value. 19
CAREI (CIIRISTIAN ACTION RESEARCH & EDUCATION) Notes to the finalleial statements for the year ended 31 March 2024 Income All income is included in the Statement of Fin1claI Activities when the cliarity is legally entitled to the incon]e and the amount can be quantified with reasonable accuracy. Legacies are recognised as income when it can reOibIY be assumed that the charity is entitled to the legacy and the amount can be estimated witli sufficient reliability. Expenditure All expenditure is included on an accruals basis &id is recognised when there is a legal or coitstructive obligation to pay for expenditure. Expenditure has been classified under headings that aggregate all costs related to that activity. Where osts cannot be dirwtly attributed to particulai. activities, they have been located to activities on a basis Gonsistent with the use of resources, Central overhead wsts are allocated to charitable activities and costs of raising fLmds on die b8sis of their uge of central suppoit services. Costs of raising funds are those incurred in seekiiig voluntary Contributions and do not include the costs of disseininatiiig iiiformation in support of charitable activÈties. Governance cogcs are tile costs associated with the governance atrang¢ments of the Charity, as opposed to the direct inanagement functions inherent iii raising funds or charitable activity. Included within thi5 category are costs associated with the strategic, as opposed to day-to-day, Inanagement of tlie Charity's activities. Support costs represent the staffing and associated costs of finance, personnel and geiietE] athninistratioii and are allocated across the categories of charitable activities, governance costs and the costs of raising funds. The basis of the cost allocation has been explained in note 7 to the fin&nci&l statements. Certn expenditure is directly atribiitabl¢ to specific activities and these have been included in the cost of these activities. Certain other costs, wliich are attributable to more tlian one athivity, arc apportioned across activities on tEie blS of an estkinate of the proportion of time speiit by staff on those activities. Wher¢ informELtion about tlie aijns, objectives and projects of tlie cbatity is provided in the content of fundraising inaterial in an educatioiial manner, these costs are apportioned to charitable activities. Irrecoverable VAT is charged as a cost in the Statement of Financial Activities, ld apportioned across activities, Irr¢wverable VAT in respLYt of the accouiiting period amounted to £61,084 (2023: £63,516). Investmellt5 Investments are stated in the balance slieet at their rnarket value as at tlie balance sheet date. All Inoveinents in value arising frojn investment changes or revaluation are shown in die Statement of Fin1¢1&1 Activities. Realised gains or losses on investtnents are calculated as the difference between the disposal proceeds and Inarket value at the beginning of the year. Unrealised gaiiu or losses are derived fTom the Inoveinent in market values dw'ing the ye. 20
CARE (CHRISTIAN ACTION RESEIARCH & EDUCATION) Notes to the financial statements for the year ended 31 March 2024 Fund accounting Funds held by the charity are either,. Unrestricted general funds- these are funds which can be used, in accordance with the objects of the charity, at the discretion of the Trustees, Urjrestricted designated funds- these are fvnds set aside by the Trustees out of unrestricted geiieral funds for a specific future purpose or projects, Restricted funds - these are funds that can only be used for particular resiricted pwloses withiii the objects of the charity. Restrictioiis arise when specified by the donor or wlien funds are raised for particular restricted purposes. Further explanation of the nature and puryose of each fuiid is included in the notes to the financial statements. 1.10 Non-deriv&tive financial instruments Non-derivative financial instruments coinprise trade and otlier debtors, cash and cash equivalents and trade aiid other creditor5. 1.11 Debtors and creditors receivablelpayable within one year Debtors and creditors witli no stated interest rate and receivable or payable witliin one year are recorded at tractiOn price. Aiiy losses arising frotn impaimient are recOlised in the statement of financial activities. 1.12 Cash and cash equivalents Ch and cash equivalents in the balance sheet compiise cash at bank and in hId. FOT die purpose of the stateinent of Chfl0ws, cash and cash eqvivaIents are net of bank overdrafts which are payable on dcrnaiid.
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the financial statements for the year ended 31 March 2024 Net movement in funds The net movement in funds for year is stated after charging: Totsl 2024 Total 2023 Auditors, remuneration Depreciation Staff Peiision CosLs Lease Payments 6,500 27,291 103,717 21,403 13,000 28,714 96,984 23,513 All income was received froin activities within the United Kingdom, Donatlons and legacles Unrestricted funds Restricted funds Total 2024 Total 2023 Regular donations Legacies Odier donations 989,766 146,305 975,348 989,766 146,305 975,998 987,893 303,568 916,573 650 2,111,419 650 2,112,069 2,208,034 RegLilar donatioiis are those received by Direct Debit, bank 5taiiding order tmd otlier regular giving eclianisms. Legacies were all received in tlie year. Total donations in 2022-23 were £2,208,034 split £987,893 unrestiicted "Regular Donations" £303,568 unrestricted "Legacies" £911,573 unrestiicted "Other Donations" aiid £5,000 restricted "Other Donations" Tax recoverable in respect of donations amounted to £242,795 (2023: £214,064) and this has been included in tlie relevant categories of income. Income from charitable activities Sales of edueational aterial Unrestricted Total Total 2024 2023 Engaging public policy malcers 24 22
CARE (CHRISTIAN ACTION RESEARCH & EDUCAIION) Notes to the financlal statements for the year ended 31 March 2024 Ratsing funds Unrestricted Total Total 2024 2023 Regular donations Legacies Other donations 122,954 104,592 7,578 6,141 122,084 93,973 252,616 204,706 4,72 7,553 Investment management cost5 257,336 212,259 Included in the above are support costs of £61,026 (2023,. £51,859). , Charitable aetivlties Total direct costs Staff costs Other costs Support costs Total 2024 Total 2023 Educating church and public opinion Engaging publi policy makers Empowering young leaders 305,208 234,027 539,235 230,604 769,839 741,503 507,843 71,108 141,596 649,439 99,997 171,105 352,019 62,827 1,001,458 886,865 233,932 228,662 Totd 2024 884,159 475,620 1,359,779 645,450 2,005,229 Total 2023 795,116 531,971 1,327,087 529,943 1,857,030 Support costs Management Information Humall & Finance Technology Resources Total 2024 Governance Facilities Educatiiig cliurcli and public opinion Engaging public policy malcers 20,789 Empowering young leaders 4,776 16,653 91,015 26,055 16,129 80,752 230,604 113,622 26,105 32,524 7,473 24,197 4,033 160,887 352,019 20,440 62,827 42,218 6,189 230,742 33,830 66,052 9,684 44,359 6,049 262,079 645,450 5,274 61,026 Raising fwids 48,407 264,572 75,736 50,408 267,353 706,476 Management & governance, finance, information technology and facilities costs are allocated onthe basis of expenditure, whilst Iiurnan resources costs are allocated on the basis of liead count. 23
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the financial statements for the year ended 31 March 2024 Staff numbers and costs 2024 Nun)ber 2023 Number The average number of staff employed during The year was 27 (2023: 25). The average number of full time equivalent staff employed by the charity diuing the year, analysed by rategoryy Ancluding support staff was as follows: Engaging public policy makers Educating Church and public opinion Empoweriiig young leaders 12 23 22 Costs of raising voliintary iiicome 26 24 Staff nujnbers iJ]¢lude support staff allocated to the various activities. The aggregate payroll costs weTe'. Wages and salaries Social security costs Pension costs Redundancy 1,008,285 104,596 103,717 5,000 928,691 93,945 96,984 1,221,598 K,119,620 2024 Number 2023 Number £70,OOE - £80,000 £80,001- £90,000 Pension coiitributions of £8,616 were made in 2023-24 on behalf of this employee. No Trustee received any remuiieration in tlieir role as Trustee during the year (2023.. none). Note 21 gives details of amounts paid to Trustees for otlier services provided during the year. No Trustee received reiinbursed expenses in the financial yeaT (2023,. none). The total employment beiiefits, including einployer pension contribiitioi]s. of tlie key management personnel of the ChltY were £142,416 (2023: £143,614). 24
CARE (CHRISTIAN ACTION RESEARCH & EDUCATIOIY) Notes to the financial statements for the year ended 31 March 2024 Flxed a55ets Freehold property Office equipment Computer equipment Total Cost At l April 2023 Additions 3,095,000 69,628 70.693 10,728 3,235,321 10.728 At 31 March 2024 3,095,000 69,628 81,421 3,246,049 Depreciation At l April 2023 Charge for tlie year 182,450 17,800 69,628 56,471 9,491 3Q8,549 27,291 At 31 fvtarch 2024 200,250 69,628 65,962 335,840 Net book values At 31 March 2024 2,894,750 15,459 2,910,209 At 31 March 2023 2,912,550 14,222 2,926,772 The freehold building wa8 re-valued at £3,095,000 011 the basis of four independent local agents, estinted valuations received iii Deceinber 2012, Tlie TTUStees reviewed the valuation at 31 March 2016 by comparisoii to local property prices and consider tliat the valuation in tlie financia] statements remains appropriate. On the transition to the Charities SORP (FRS102), tlie Trustees decided to ireat this value as the deeirjed cost of the property. There is an equity illortgagc sccured agaiiist the property which is disclosed within creditors in note 13. 25
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the financial statements for the year ended 31 Marcb 2024 10 Fixed Asset Investments 2024 2023 Marlcet Value Listed investtnents: Opening market value Additions Disposals proceeds Portfolio revaluation 516,910 123,536 (125,861) 23,136 536,328 86,835 (68,736) (37,517) 537,721 13,446 516,910 3,254 Cash held as part of portfolio Closing Jnarket value 551,167 520,164 All investments are held primarily to provide an i11vestment retum for the charity. 11 stock5 2024 2023 Books and DVDS 1,500 1,500 12 Debtors 2024 2023 Due within one year: Gift Aid Recoverable Prepayments and accrued incoine Other debtors 19,335 32,903 11,798 64,036 31,556 20,566 5,342 57,464 26
CARE (CIIIUSTIAN ACTION RESEARCH & EDUCATION) Notes to the finan¢lal statements for the year ended 31 March 2024 13 Credltors: Anjounts falling due Ivithin one year 2024 2023 Equity Mortgages Trade creditors Social security costs Pension contributions payable Other CrltOrS Accruals and deferred incoine 35,336 66,046 26,224 432 10,745 35,336 70,913 26,555 8,141 6,300 151,675 179,615 14 Leasing commitments The Chlty,$ future minimuin operating lease payments are as follows.. 2024 2023 Within one year Between one and five:years 7,544 7,511 8,542 16,053 27
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Iyotes to the financial statements for the year ended 31 March 2024 15 Unreslricted funds General fund Designated fund Totsl Balance at l April 2023 4,388,400 155,IEO 4.543,510 Net incomal(expenditure) iii the year Transfers between funds Gain on revaluation of investn]ents (5,234) (i 0,000) 23,136 (116,389) 10,000 (121,523) 23,136 Balance at 31 March 2024 4,396,402 48,721 4,444,123 16 Designated funds Balance at l April 2023 Balance at Transfers 31 March 2024 Income Expenditure Rornney Street Web51te 401II Anniversary Scottish IFC Support and I)evelopment 103,795 29,600 21,715 50,000 (138,650) (11,541) (18,166) 10,000 25,145 18,059 3,549 10,000 (8,032) 1,968 155,110 60,000 (176,389) 10,000 48,721 The Romney Street fund is to provide for fUt[e upkc¢p alld development of the building. Tlie Website fund is to refresl) and rebuild CARE'S websiie consi5tenl witli the new organisational Strategic vision. The 40th Anniversary fund is for a series of events aiid activities tliat assist supporter5 engage with CARE'S 40th anniver5aTy. The Scottish IFC Support and Development Fuiid is to cover tlie travel and accommodation costs of IFC graduates based in Scotland with placements in the Scottish Parliament. 28
CARE (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the financial statements for the year ended 31 March 2024 17 Restricted funds Balance at l April 2023 Balance at Transfeys 31 March 2024 Income Expenditure IFC Development Fund quipineiit Fund Graduate BursaTies Fund 53,397 5,000 (14,878) 38,519 5,000 300 650 (350) 58,397 650 (15,228) 43,819 The IFC Development fund is to cover the cogts of ongoing work witli the Alumni. Tlie Equipinent Fund is to be used for the purchase of new equipment tliat will furtlier CARE'S inission and charitable objects. Tlie Graduate Bursaries Fund 18 a fund to support the costs relating to IFC graduates. 18 Analysis, of net assets.beliveen funds Total Funds 2024 Total Funds 2023 General Designated Restricted funds funds fllnds Tangible fixed tsetS Investinents Cash at bank and in Iwid Other net Gurrent Oiabilities) 2,910,209 551,167 1,021,165 (86,139) 2,910,209 2,926,772 551,167 520,164 43,819 1,113,705 1,275,622 (86,139) (120,651) 48,721 4,396,402 48,721 43,819 4,488,942 4,601.,907 29
CARK (CHRISTIAN ACTION RESEARCH & EDUCATION) Notes to the financial 5tatsments for the yer ended 31 March 2023 19 Company limited by guarantee The company is limited by guarantee and so has iio shaTe capital. The members of the charitabl¢ cornpany l]ave agreed to contribute up to £10 eacli in tlie event of the dissolution of the oompany. 20 Controlling parties The controlling party of the charity is the Board of Trustees. 21 RelF4ted pArtie5 The clwity is connected with the following organis&tions',- CARE Campaigns is connected to CARE as all of the Trustees of CARE are directors of CARE Campaigns, which was dormant during the year. Jersey Road Ltd is a specialist PR and Inedia consultajicy coinpany. CARE Tiustee Garetli Russell is a director of the coinpany and provides specialist consultancy services to CARE in this arei for a very Teasonable fee, compared to n]arket value. The total amount paid to Jersey Road Ltd duriiig the financial year w&s £nil (2023.. £18,756).'CARE owed Jersey Road Ltd £nil at the year.end (2023: £nil). Charlie Hoare is a Trustee of the charity and he provides advice on public policy matters at a fee below the inarket rate. The total Ount paid to Charlie H02re during the financial year was £4,725 (2023: £7,740). CARE owed Charlie Hoare £nil at the year-end (2023: £nil). 30
CARE (CHRISTIAN ACTION RESEARCH & EDUCATIOIY) otes to the financial statements for the year ended 31 March 2024 22 Statement of Financial Activltles for the year ended 31 March 2023 (including the Income and Expenditure Account) Unrestricted Restricted funds funds Total 2023 INCOME FROM: Donations and legacies 2,205,034 5,000 2,208,034 Charitable aetxvities Influencing Public Policy Developing Young Leaders 24 24 Investments 13,494 13,494 Total income 2,216,552 5,000 2,221,552 EXPENDITURE ON: Raislng funds 212,259 212,259 Charitable activities Educating public opinion Influencing public policy Developing young leaders 738,374 877,478 228,662 3,129 741,503 9,387 886,865 228,662 TotAI expenditure 2,056,773 12,516 2,069,289 Net (expenditure)lincon)e before revaluations 159,779 (7,516) 152,263 Gain on revaluation of investments (37,517) (37,517) Net movement in funds 122,262 (7,516) 114,746 Tc)tal funds brought forward 4,421,248 65,913 4,487,161 Total funds carried fonvard 4,543,510 58,397 4,601,907 There are iio i'ecognised gains or losses in eitlier the ¢urreiit or previous year other thali those included in the Statement of Financial Activities. All activities rclate to continuing operations.