Company registration number: 04023541 Charity registration number: 1085494
Civitas Limited
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2023
MG Group (Professional Services) Ltd 166 College Road Harrow Middlesex HA1 1BH
Civitas Limited
| Contents | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Trustees Report | 2to8 | |
| Statement ofTrustees' Responsibilities | 9 | |
| Independent Examiner's Report | 10 | |
| Statement of Financial Activities | 11 to 12 | |
| Balance Sheet | 13 | |
| Statement ofCash Flows | 14 | |
| NotestotheFinancialStatements | 15to25 |
Civitas Limited
Reference and Administrative Details
| Chief Executive Officer | Jim McConalogue |
|---|---|
| Trustees | Dr David Green |
| Sir AW Rudge |
|
| T Harris | |
| DW Costain | |
| JEM Shaw | |
| Peter Desmond Clifford Lloyd | |
| Secretary | Jim McConalogue |
| Principal Office | 55 Tufton Street Westminster |
| London | |
| SW1P 3QL | |
| Company Registration Number | 04023541 |
| Charity Registration Number | 1085494 |
| Independent Examiner | MG Group (Professional Services) Ltd |
| 166 College Road | |
| Harrow | |
| Middlesex | |
| HA11BH |
Page 1
Civitas Limited
Trustees Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2023.The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK snd Republic of Ireland (FRS 102) (effective | January 2019).
Objectives and activities
Objects and aims
The Trustees have considered the Charity Commission guidelines on public benefit and are satisfied that Civitas benefits the public by pursuing the following aims, which fall into three main groups:
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the direct provision of education through Civitas Saturday and evening schools;
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conducting research into social and economic problems to improve the stock of public knowledge, raise understanding and encourage informed discussion;
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providing teaching materials and talks for schools.
Civitas is a community of researchers and supporters committed to discovering how best to strengthen democracy, maintain personal freedom and achieve opportunity for all. We strive to achieve our ideals through independent research, reasoned argument, lucid explanation and open public debate.
We make our work available in books, pamphlets, online, and in electronic formats and encourage authors to make their arguments accessible to non-specialists. We have published a knowledge-rich primary school curriculum designed to enable children of all abilities to share in the intellectual heritage of Western civilisation.
Uniquely among think tanks, we play an active, practical part in rebuilding civil society, particularly by running schools on Saturdays and after-school hours so that children who are falling behind at school can achieve their full potential.
Under the company's memorandum of association, the charity is established to advance the studies of ethics and religion and any other charitable purpose.
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Civitas Limited
Trustees Report
Objectives, strategies and activities
Primary Education for Children Falling Behind at School
Many primary school pupils are not learning the basics. On Saturdays and after school hours during weekdays we provide lessons in English and maths for children who have fallen behind. We use a no-frills approach which concentrates on high-quality teaching along traditional lines to enable children to master essential skills quickly. We emphasise small class sizes, reading through synthetic phonics and mental arithmetic.
In 2023, Civitas operated 13 supplementary schools in London, with a further two in North East England.
Our pupils tend to come from disadvantaged backgrounds. Although many of the parents have high aspirations for their children, they often lack the skills and experience to help them continue learning outside regular school hours. The aim of the project is to encourage disadvantaged children to be high-achievers, to reach their full academic potential and thereby to open up new opportunities.
EVENTS
Civitas has hosted numerous events, including:
Hosting General The Lord Dannatt, former Chief of the General Staff for a discussion event on ‘The State of the UK's Armed Forces in 2023: Challenges and Opportunities’ (23 February 2023).
The journalist Peter Hitchens spoke at an event, ‘Egalitarians, Merit and the British Education System’ (23 March 2023).
Erica Komisar, a leading author on the importance of mothers in the early years of a child’s life led a discussion on ‘Why can't mums choose? Rethinking the childcare system’ on 11th April.
Professor Doug Stokes and Dr Richard Norrie spoke at an online event on the subject, ‘Decolonising the University and the Decline of the West’ on 19th April.
Benedict Rogers spoke on his book, ‘The China Nexus’, to discuss the Chinese regime, what to expect from the regime in the future and the potential impacts on Britain.
A discussion event was held with two speakers Aaryaman Banerji and Dr Rakib Ehsan and figures from football management and supporter associations on Banerji’s Civitas report, ‘Governing the beautiful game: the future of football in civil society’ (11 May).
To release a Civitas report on care leavers, ‘Breaking the Care Ceiling: How many care leavers go to university?’, researchers participated in an event with the First Star Scholars UK charity in parliament on 12 September.
Civitas held a discussion with Rt Hon Lord Frost of Allenton CMG on ‘How are we to be governed?’, covering Whitehall's increasingly outdated model for government (6 September).
In October, Civitas held a parliamentary event ‘Rethinking our approach to childcare’, with Erica Komisar, one of the world's leading experts and advocates for the importance of mothers in the early years of a child's life.
Page 3
Civitas Limited
Trustees Report
A discussion event was held with Professor David Miles (Professor of Financial Economics at Imperial College Business School and OBR economist) on rapid population growth and living standards (October 2023).
We held a panel discussion in Portcullis House on the Strategic Dependence of UK Universities on funding from China. The speakers were: Ambassador James Cunningham, Chairman of the Committee for Freedom in Hong Kong Foundation; Robert Clark, report author and Director of the Defence and Security Unit at Civitas; Sam Dunning, Director of UK-China Transparency; and Geri Scott, Senior Political Correspondent at The Times. The event was hosted by Bob Seely MP (14 November).
To support the childcare project, Civitas researchers hosted a roundtable with parliamentarians and other policymakers in parliament in October to discuss how choice in childcare might be made a possibility.
BOOKS/REPORTS
The Radical Progressive University Guide, Dr Richard Norrie, January 2023.
An analysis of the effects of taxes and benefits on household income, Tim Knox and Daniel Lilley, January 2023.
Governing the Beautiful Game: The future of football in civil society, Aaryaman Banerji, February 2023.
China’s increasing influence in the Commonwealth of Nations: A triad of trade, diplomacy, and military relations, Robert Clark, February 2023.
Who watches the watches? A response to Nazir Afzal’s ‘Independent Culture Review of London Fire Brigade’, Dr Richard Norrie, June 2023.
A short route to deindustrialisation: An introduction to the UK Emissions Trading Scheme (UK ETS) and its challenges’, Jim McConalogue, May 2023.
Show, tell and leave nothing to the imagination: How critical social justice is undermining British schooling’, Jo-Anne Nadler, May 2023.
The failing quango state, Richard Norrie, April 2023.
How UK energy subsidies drove down consumption, pushed up prices and reduced our prosperity’, Dr John Constable, March 2023.
Adapting the manufacturing sector for a brighter future: new approaches to energy resilience among SMEs, Jim McConalogue and Aaryaman Banerji, March 2023.
Breaking the Care Ceiling: How many care leavers go to university?, Frank Young and Daniel Lilley, September 2023.
BBC impartiality and the problem of bias, Dr. Richard Norrie, August 2023.
The Strategic Dependence of UK Universities on China - and where should they turn next? Robert Clark, November 2023.
Net Zero: an analysis of the economic impact, Ewen Stewart, September 2023 [WITHDRAWN].
Page 4
Civitas Limited
Trustees Report
‘Islamophobia Revisited’, Hardeep Singh, September 2023.
Fixing Human Rights Law, Dr Michael Arnheim, September 2023.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
To achieve this the charity reports that it offers the following public benefit.
The direct provision of education through Civitas Saturday and evening schools.
Conducting research into social and economic problems to improve the stock of public knowledge, raise understanding and encourage informed discussion.
Providing teaching materials and talks for schools.
Page 5
Civitas Limited
Trustees Report
STRATEGIC REPORT
Financial review
On 31st December 2023 the charity had net assets of £784,274 (2022: £849,719) represented by unrestricted funds of £440,152 (2022: £503,046) and restricted funds of £344,122 (2022: £346,673). These are considered available and adequate to fulfil the obligations of the charity for the foreseeable future.
Policy on reserves
The policy of the trustees is to maintain a financial reserve up to the equivalent of an average year's expenditure, to be exceeded only for specific purposes, such as the provision of premises or projects subject to restricted funding.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document and is a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 6
Civitas Limited
Trustees Report
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04023541 (England and Wales)
Registered Charity number 1085494
Registered office 55 Tufton Street Westminster London SW1P 3QL
Trustees
D W Costain Consultant Sir A W Rudge Engineer and Company Director J EM Shaw Self Employed Writer T Harris Dr D G Green P DC Lloyd (appointed 13.06.2023)
Company Secretary J McConalogue
Independent Examiner MG Group Chartered Accountants & Registered Auditors 166 College Road Harrow Middlesex HA1 1BH
Other Officers of the Charity
CEO - Jim McConalogue
Page 7
Civitas Limited
Trustees Report
REFERENCE AND ADMINISTRATIVE DETAILS
Principal Bankers Barclays Bank PLC Pall Mall Corporate Centre PO Box 15163 London, SW1A 1QD
The Cooperative Bank PO Box 250 Skelmersdale, WN8 6WT
Metro Bank PLC One Southampton Row London, WC1B 5HA
Aldermore Bank PLC 1st Floor, Block B, Western House, Lynch Wood Peterborough, PE2 6FZ
CAF Bank Limited 25 Kings Hill Avenue, Kings Hill West Malling, Kent, ME19 4JQ
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Page 8
Civitas Limited
Statement of Trustees’ Responsibilities
The trustees (who are also the directors of Civitas Limited for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity sta: HVa A r SOLP \? and signed on its; behalf by:
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D W Costain Trustee
Page 9
Civitas Limited
Independent Examiner's Report to the trustees of Civitas Limited
| report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 11 to 25.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Civitas Limited (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Civitas Limited are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since Civitas Limited's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because I am a member of the ICAEW, which is one ofthe listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Civitas Limited as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M fe[A] p ; MG Group (Professional Services) Ltd
166 College Road Harrow Middlesex HA1 1BH pate: 31/517.
Page 10
Civitas Limited
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | 2023 | ||
| Note | £ | £ | £ | |
| Income and Endowments from: | ||||
| Grants, Donations and Legacies | 3 | 92,112 | 493 881 | 585,993 |
| Charitable activities | 4 | 11.216 | 11,945 | 23,161 |
| Investment income | 5 | 21,620 | - | 21,620 |
| Total income | 124,948 | 505,826 | 630,774 | |
| Expenditure on: | ||||
| Expenditure on raising fund | (128) | - | (128) | |
| Charitable activities | 6 | (183,410) | (508,377) | (691,787) |
| Total expenditure | (183,538) | (508,377) | (691,915) | |
| Gains/losses on investment assets | (4,304) | - | (4,304) | |
| Net expenditure | (62,894) | (2,551) | (65,445) | |
| Net movement in funds | (62,894) | (2,551) | (65,445) | |
| Reconciliation offunds | ||||
| Total funds brought forward | 503,046 | 346,673 | 849,719 | |
| Total funds carried forward | ‘7 | 440,152 | 344,122 | 784,274 |
| Unrestricted | Restricted | Total | ||
| funds | funds | 2022 | ||
| Note | £ | £ | £ | |
| Income and Endowments from: | ||||
| Donations and legacies | 3 | 157,907 | 392,450 | 550,357 |
| Charitable activities | 4 | 23,519 | 14,321 | 37,840 |
| Investment income | 5 | 16,436 | - | 16,436 |
| Other income | 582 | - | 582 | |
| Total income | 198,444 | 406,771 | 605,215 | |
| Expenditure on: | ||||
| Charitable activities | 6 | (235,467) | (397,561) | (633,028) |
| Total expenditure | (235,467) | (397,561) | (633,028) | |
| Gains/losses on investment assets | (39,392) | - | (39,392) | |
| Net (expenditure)/income | (76,415) | 9,210 | (67,205) | |
| Net movement in funds | (76,415) | 9,210 | (67,205) | |
| Reconciliation offunds | ||||
| Totalfundsbroughtforward | 579,461 | 337,463 | 916,924 |
Page 11
Civitas Limited
Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted | Restricted | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | 2022 | |||||
| Note | £ | £ | £ | ||||
| Total | funds | carried | forward | 17 | 503,046 | 346,673 | 849,719 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown is shown in note 17.
Page 12
Civitas Limited
(Registration number: 04023541) Balance Sheet as at 31 December 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|Note|£|£|
|Fixed|assets|
|Tangible|assets|12|1,152|1,409|
|Investments|13|206,016|210,320|
|207,168|211,729|
|Current|assets|
|Stocks|14|3,425|5,080|
|Debtors|15|16,231|15,616|
|Cash|at|bank|and|in|hand|572,496|630,163|
|592,152|650,859|
|Creditors:|Amounts|falling|due within|one year|16|(15,046)|(12,869)|
|Net|current|assets|577,106|637,990|
|Net|assets|784,274|849,719|
|Funds|of the|charity:|
|Restricted|funds|344,122|346,673|
|Unrestricted|income|funds|
|Unrestricted|funds|440,152|503,046|
|Total funds|17|784,274|849,719|
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For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared subject to the small companies regime.
in accordance with the provisions applicable to companies
The financjal statements on pages 11 to 25 were approved by the trustees, and authorised for issue on 3.2/2/.2.o¢and signed on their behalf by:
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Page 13
Civitas Limited
Statement of Cash Flows for the Year Ended 31 December 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Netcash expenditure | (65,445) | (67,205) | |
| Adjustments to cash flows from non-cash items | |||
| Depreciation | 4,319 | 1,493 | |
| Investment income | 5 | (21,620) | (16,436) |
| Revaluation of investments | 4,304 | 39,392 | |
| (81,442) | (42,756) | ||
| Working capital adjustments | |||
| Decrease/(increase) in stocks | 14 | 1,655 | (1,614) |
| Increase in debtors | 15 | (615) | (621) |
| Increase in creditors | 16 | 2,177 | 364 |
| Net cash flows from operating activities | (78,225) | (44,627) | |
| Cash flows from investing activities | |||
| Interest receivable and similar income | 5 | 21,620 | 16,436 |
| Purchase oftangible fixed assets | 42 | (1,062) | (1,083) |
| Net cash flows from investing activities | 20,558 | 15,353 | |
| Net decrease in cash and cash equivalents | (57,667) | (29,274) | |
| Cash and cash equivalents at 1 January | 630,163 | 659,437 | |
| Cashandcashequivalentsat31December | 572,496 | 630,163 |
All of the cash flows are derived from continuing operations during the above two periods.
Page 14
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is: 55 Tufton Street Westminster London SW1P 3QL
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Civitas Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value with the exception of investments which are included at market value.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations and subscriptions are included as income as soon as they are received, unless the donor has imposed pre-conditions on the use of the funds, in which case the donations are carried forward until the pre-conditions are met. Voluntary help is not recognised in the Statement of Financial Activities. Membership, publications and investment income are included in the period to which they relate.
Page 15
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Grants receivable
Grants and statutory funding are recognised once the resource is receivable by the charity and can be measured with reasonable reliability.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Furniture and equipment
Depreciation method and rate 33% on straight line method
Page 16
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
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Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Page 18
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Unrestricted | |||||
|---|---|---|---|---|---|
| funds | |||||
| General | Restricted funds |
Total 2023 |
Total 2022 |
||
| £ | £ | £ | £ | ||
| Grants and Donations; | |||||
| Donations- Unrestricted | 92,112 | - | 92,112 | 157,907 | |
| Donations and Grants- Restricted | - | 493,881 | 493,881 | 392,450 | |
| 92,112 | 493,881 | 585,993 | 550,357 | ||
| 4 | Income from charitable activities | ||||
| Unrestricted | |||||
| funds | |||||
| General | Restricted funds |
Total 2023 |
Total 2022 |
||
| £ | £ | . | £ | ||
| Parents Fees | - | 11,945 | 11,945 | 14,321 | |
| Publication Sales | 2,652 | - | 2,652 | 13,198 | |
| Membership & Subscriptions | 8,564 | - | 8,564 | 10,321 | |
| 11,216 | 11,945 | 23,161 | 37,840 | ||
| 5 | Investment income | ||||
| Unrestricted | |||||
| funds | |||||
| General | Total 2023 |
Total 2022 |
|||
| £ | £ | £ | |||
| Interest receivable and similar income; | |||||
| Interest receivable on bank deposits | 8,975 | 8,975 | 3,786 | ||
| Other income from fixed asset investments | 12,645 | 12,645 | 12,650 | ||
| 21,620 | 21,620 | 16,436 |
4 Income from charitable activities
Page 19
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
6 Expenditure on charitable activities
| Unrestricted | ||||
|---|---|---|---|---|
| funds | ||||
| General | Restricted funds |
Total 2023 |
Total 2022 |
|
| £ | £ | £ | £ | |
| Charitable activities | ||||
| Defence Security Democracy | - | (3,962) | (3,962) | (27,580) |
| Trade support project | = | - | - | (1,481) |
| Food security | - | (6,000) | (6,000) | - |
| Independent Schools Commission | - | (4,606) | (4,606) | “ |
| Manufacturing project(s) | - | (3,912) | (3,912) | (638) |
| Governance Project | - | (1,327) | (1,327) | = |
| Supplementary Schools | - | (175,510) | (175,510) | (174,947) |
| Net Zero Project | - | (21,600) | (21,600) | - |
| Children and Families | - | (28,038) | (28,038) | (7,625) |
| Staff NIC (Employers) | (5,101) | - | (5,101) | (17,850) |
| Staff pensions (Defined | ||||
| contribution) - pension scheme 1 | (3,364) | - | (3,364) | (3,178) |
| Wages and salaries | (91,373) | - | (91,373) | (117,216) |
| Wages and salaries | - | (234,286) | (234,286) | (173,233) |
| Staff NIC (Employers) | - | (25,268) | (25,268) | (10,180) |
| Staff pensions (Defined | ||||
| contribution) - pension scheme 1 | - | (3,868) | (3,868) | (1,877) |
| Rent and rates | (31,583) | - | (31,583) | (47,617) |
| Printing, postage and stationery | (27,063) | - | (27,063) | (25,851) |
| Sundry expenses | (553) | - | (553) | (1,056) |
| Research and development | (16,955) | - | (16,955) | (15;377) |
| Independent examiner's fee | (3,450) | - | (3,450) | (3,450) |
| Bank charges | (2,649) | - | (2,649) | (2,379) |
| Depreciation offixtures and fittings | (1,319) | - | (1,319) | (1,493) |
| (183,410) | (508,377) | (691,787) | (633,028) |
Page 20
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
7 Net incoming/outgoing resources
Net outgoing resources for the year include:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|E|£|
|Depreciation|of|fixed|assets|1,319|1,493|
----- End of picture text -----
8 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Staff|costs|during|the|year|were:|
|Wages|and|salaries|325,659|290,449|
|Social|security|costs|30,369|28,030|
|Pension|costs|7,232|5,055|
|363,260|323,534|
----- End of picture text -----
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2023|2022|
|No|No|
|Civitas|staff|8|7|
|Supplementary|schools|project|teaching|21|i|
|9|
|The|number|of employees|whose|emoluments|fell|within|the|following|bands|was:|
|2023|2022|
|No|No|
|£60,001|-|£70,000|1|4|
|£70,001|- £80,000|1|1|
----- End of picture text -----
Page 21
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
10 Independent examiner's remuneration
| 10 Independent examiner's remuneration | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Other fees to examiners | ||
| IndependentAccountsExamination | 3,450 | 3,450 |
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
12 Tangible fixed assets
| 12 Tangible fixed assets | ||
|---|---|---|
| Furniture | ||
| and | ||
| equipment | Total | |
| £ | £ | |
| Cost | ||
| At 1 January 2023 | 35,967 | 35,967 |
| Additions | 4,062 | 1,062 |
| At 31 December 2023 | 37,029 | 37,029 |
| Depreciation | ||
| At 1 January 2023 | 34,558 | 34,558 |
| Charge for the year | 1,319 | 1,319 |
| At 31 December 2023 | 35,877 | 35,877 |
| Net book value | ||
| At31 December 2023 | 1,152 | 1,152 |
| At31December2022 | 1,409 | 1,409 |
Page 22
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
| 13 Fixed asset investments | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Other investments | 206,016 | 210,320 |
| Other investments | ||
| Listed | ||
| investments | Total | |
| £ | £ | |
| Cost or Valuation | ||
| At 1 January 2023 | 210,320 | 210,320 |
| Revaluation | (4,304) | (4,304) |
| At 31 December 2023 | 206,016 | 206,016 |
| Net book value | ||
| At 31 December2023 | 206,016 | 206,016 |
| At 31 December 2022 | 210,320 | 210,320 |
| 14 Stock | ||
| 2023 | 2022 | |
| £ | £ | |
| Stocks | 3,425 | 5,080 |
| 15 Debtors | ||
| 2023 | 2022 | |
| £ | £ | |
| Prepayments | 11,944 | 11,943 |
| Other debtors | 4,287 | 3:873 |
| 16,231 | 15,616 | |
| 16 Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Other taxation and social security | 10,306 | 9,270 |
| Other creditors | 1,140 | (1) |
| Accruals | 3,600 | 3,600 |
| 15,046 | 12,869 |
Page 23
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
17 Funds
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Balance|at|
|Balance|at|Other|31|
|1|January|Incoming|Resources|recognised|December|
|2023|resources|expended|(gains)/losses|2023|
|£|£|£|£|£|
|Unrestricted|funds|
|General|(503,046)|(124,948)|183,538|4,304|(440,152)|
|Restricted|funds|(346,673)|(505,826)|508,377|-|(344,122)|
|Total|funds|(849,719)|(630,774)|_691,915|_4,304|_|[(784,274)]|
|Balance|at|
|Balance|at|Other|31|
|1|January|Incoming|Resources|recognised|December|
|2022|resources|expended|(gains)/losses|2022|
|£|£|£|£|£|
|Unrestricted|funds|
|.|General|(579,461)|(198,444)|235,467|39,392|(503,046)|
|Restricted|funds|(337,463)|(406,771)|397,561|-|(346,673)|
|Total funds|(916,924)|(605,215)|633,028|39,392|(849,719)|
----- End of picture text -----
The restricted funds are for the following purposes:
* The Civitas Schools (supplementary schools).
- A Commission for the future of independent schools. * Children and families projects on (i) childcare policy; (ii) care leavers going to university; (iii) a comparative analysis of international education data; (iv) study of various programmes taught in schools; (v) family stability and marriage; (vi) shaping of childhood development in the early years. * A project on churches and support for the parish system; a defence and security study of the dependence of UK universities on China; a food security project; a study of the impact of net zero goals; research on corporate governance and its impact on businesses and consumers; and football governance.
Page 24
:
Civitas Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
18 Analysis of net assets between funds
| Unrestricted | |||
|---|---|---|---|
| funds | |||
| General | Restricted funds |
Totalfunds 2023 |
|
| £ | £ | £ | |
| Tangible fixed assets | 1,152 | - | 1,162 |
| Fixed asset investments | 206,016 | - | 206,016 |
| Current assets | 248,030 | 344,122 | 592,152 |
| Current liabilities | (15,046) | - | (15,046) |
| Total net assets | 440,152 | 344,122 | 784,274 |
| Unrestricted | |||
| funds | |||
| Restricted | Totalfunds | ||
| General | funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,409 | s | 1,409 |
| Fixed asset investments | 210,319 | - | 210,319 |
| Current assets | 304,186 | 346,673 | 650,859 |
| Current liabilities | (12,869) | - | (12,869) |
| Total netassets | 503,045 | 346,673 | 849,718 |
| 19 Analysis of net funds | |||
| At 31 | |||
| At 1 January | December | ||
| 2023 | Cash flow | 2023 | |
| £ | £ | £ | |
| Cash at bank and in hand | 630,163 | (57,667) | 572,496 |
| Net debt | 630,163 | (57,667) | 572,496 |
| At 31 | |||
| At 1 January | December | ||
| 2022 | Cash flow | 2022 | |
| £ | £ | £ | |
| Cash at bank and in hand | 659,437 | (29,273) | 630,163 |
| Netdebt | 659,437 | (29,273) | 630,163 |
Page 25
Civitas Limited
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 2023 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | ||||
| General | Restricted funds |
Total | Total 2022 |
|
| i | £ | £ | £ | |
| Income and Endowments from: | ||||
| Donations and legacies (analysed | ||||
| below) | 92,112 | 493,881 | 585,993 | 550,357 |
| Charitable activities (analysed | ||||
| below) | 11,216 | 11,945 | 23,161 | 37,840 |
| Investment income (analysed | ||||
| below) | 21,620 | - | 21,620 | 16,436 |
| Other income (analysed below) | - | - | - | 582 |
| Total income | 124,948 | 505,826 | 630,774 | 605,215 |
| Expenditure on: | ||||
| Raising funds (analysed below) | (128) | - | (128) | - |
| Charitable activities (analysed | ||||
| below) | (183,410) | (508,377) | (691,787) | (633,028) |
| Total expenditure | (183,538) | (508,377) | (691,915) | (633,028) |
| Other recognised gains and losses | (4,304) | - | (4,304) | (39,392) |
| Net expenditure | (62,894) | (2,551) | (65,445) | (67,205) |
| Net movement in funds | (62,894) | (2,551) | (65,445) | (67,205) |
| Reconciliation offunds | ||||
| Total funds brought forward | 503,046 | 346,673 | 849,719 | 916,924 |
| Totalfundscarriedforward | 440,152 | 344,122 | 784,274 | 849,719 |
Page 26
Civitas Limited
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 2023 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | ||||
| General | Restricted funds |
Total | Total 2022 |
|
| £ | £ | £ | £ | |
| Donations andlegacies | ||||
| Defence Security Democracy | - | 126,250 | 126,250 | 65,000 |
| Trade Support | - | - | - | 20,000 |
| Economic Independence Project | - | 23,000 | 23,000 | = |
| Governance | - | 26,688 | 26,688 | 9,063 |
| Supplementary Schools | - | 244,081 | 244,081 | 157,669 |
| Children and Families | - | 73,862 | 73,862 | 33,750 |
| Manufacturing (Energy) Project | - | - | - | 26,243 |
| Manufacturing Project | - | - | - | 78,725 |
| New Economic Horizons | = | - | - | 2,000 |
| Donations | eeI, | JO | ||
| 92,112 | 493,881 | 585,993 | __550,357_ | |
| 2023 | 2023 | |||
| Unrestricted | ||||
| funds | ||||
| General | Restricted funds |
Total | Total 2022 |
|
| £ | £ | £ | £ | |
| Charitable activities | ||||
| Supplementary Schools | - | 11,945 | 11,945 | 14,321 |
| Publication sales | 2,652 | - | 2,652 | 13,198 |
| Membership | 8,564 | - | 8,564 | 10,321 |
| 11,216 | 11,945 | 23,161 | 37,840 |
Page 27
Civitas Limited
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 2023 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | ||||
| Total | ||||
| General | Total | 2022 | ||
| £ | £ | £ | ||
| Investment income | ||||
| Income from listed investments | 12,645 | 12,645 | 12,650 | |
| Interest on cash deposits | 8,975 | 8,975 | 3,786 | |
| 21,620 | 21,620 | 16,436 | ||
| 2023 | ||||
| Total | ||||
| Total | 2022 | |||
| £ | £ | |||
| Otherincome | ||||
| Other income | - | 582 | ||
| SB | ||||
| 2023 | 2023 | |||
| Unrestricted | ||||
| funds | ||||
| Total | ||||
| General | Total | 2022 | ||
| £ | £ | £ | ||
| Raising funds | ||||
| Investment managementcharge | (128) | (128) | - | |
| (128) | (128) | - | ||
| 2023 | 2023 | |||
| Unrestricted | ||||
| funds | ||||
| Restricted | Total | |||
| General | funds | Total | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | ||||
| Defence Security Democracy | - | (3,962) | (3,962) | (27,580) |
| Trade support project | = | = | (1,481) | |
| Food security | - | (6,000) | (6,000) | = |
| Independent Schools Commission | - | (4,606) | (4,606) | i |
| Page | 28 |
Civitas Limited
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 2023 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | ||||
| General | Restricted funds |
Total | Total 2022 |
|
| £ | £ | £ | £ | |
| Manufacturing project(s) | - | (3,912) | (3,912) | (638) |
| Governance Project | - | (1,327) | (1,327) | - |
| Supplementary Schools | - | (175,510) | (175,510) | (174,947) |
| NetZero Project | - | (21,600) | (21,600) | - |
| Children and Families | - | (28,038) | (28,038) | (7,625) |
| Staff NIC (Employers) | (5,101) | - | (5,101) | (17,850) |
| Staff pensions (Defined | ||||
| contribution) - pension scheme 1 | (3,364) | - | (3,364) | (3,178) |
| Wages and salaries | (91,373) | - | (91,373) | (117,216) |
| Wages and salaries | - | (234,286) | (234,286) | (173,233) |
| Staff NIC (Employers) | - | (25,268) | (25,268) | (10,180) |
| Staff pensions (Defined | ||||
| contribution) - pension scheme 1 | - | (3,868) | (3,868) | (1,877) |
| Rent and rates | (31,583) | = | (31,583) | (47,617) |
| Printing, postage and stationery | (27,063) | - | (27,063) | (25,851) |
| Sundry expenses | (553) | - | (553) | (1,056) |
| Research and development | (16,955) | - | (16,955) | (15,377) |
| Independent examiner's fee | (3,450) | - | (3,450) | (3,450) |
| Bank charges | (2,649) | - | (2,649) | (2,379) |
| Depreciation offixturesand fittings | (1,319) | - | (1,319) | (1,493) |
| (183,410) | (508,377) | (691,787) | (633,028) |
Page 29