Cc¥npany Registrati( NUrnLr. 4107837 Charity Registrathjn Number. 1088404 Reportofthe Trustses and Financial Statements forthe Year Ended 31 December2022 forthe openTrust (A Company limited by guarantee)
onTruSt Contents Charity Infomiatk Report of the Trustees Indepèndent Audltorfs Roport ststenient of Financial Activities Balance Sheet 10 statement of Cash Flows 11 Not85 to the Financial Statgmonts 12-17
0p8nTnt Charty Inforiiiation Registered Company Limited by Guarantee Number in England and Wales 4107837 Registered Charity Number 1086404 Reglstered Office 5 Madingley Road Cambridge CB3 OEE Trustees Sir Charles Ethvard Chathck-Healey Bt: Chairman Anthony Harold Barnett Dame Elizabeth Anne Lucy Forgan DBE Anr Shirtey Lucas Lapping CBE Dr Jthn Francis Olivarius McAllstsr Independent Audltors Reza Motaz8di and Co.LLP 7 Bell Yard London WCZ4 2JR Bankers The Cowopérative Bank p Box 101. 18altoon Street Manchester M60 4EP Page 1 of 17
openTrust Report of tho Trustees for the year endod 31 December 2022 The Trustees who are 81$0 Dir&tors of charity for the wrpx of th8 Companies Act 2006, pyesent their report wtth the financial statements of the chartty for ts year ended 31 DecemLr 2022. The Trustees have adopted the wovisions of the Statement ot RecCmMend Practice (SORPI 'Accounting and Reporbng by Chartties, ISSU in March 2Crf)5. Statement of Trustees, Responsiblllties Company requires Ihe Trustees to prepare accnts for each financial year which giv8 a true and fair view of the state of affairs of the charity aThJ of the suuS or defictt of the charity for that pericxl. In preparing those acCnts, the Trustees are required to: il Sdect suitable accountiro tKcies appty them ccThstenty ii) Make jLJgments and estimates that are reag)natAe and prudent iiil Prepare the accounts on the gotng concem basis urtess it inapwopriate to presume that the charity will continue oKrating iv) State whether the pollcies adopted are in accordance wf(h the Companies Act 21)06 and with apFlicable accountrng stsndards and statemenls of ornMended practice. subject to any material departures disclosed aTrJ explained in the accounts vl ObseNe the methcxls and FxincI of the Charities SORP The Trustees are responsible for keeping prw accountir¥J reGcKts whtch disck)se the financia position of the openTrust with reasonable accuracy at any time aTrJ enatde them to ensure that th8 accounts Comp wrth the COmpS Act 20. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventK)n and detection of fraud and other irregularities. Structure, Govemanca and Management Governing Document openTrust is a company limited by guarantee wilh charitth status whh ts verned by a memorandum and articles of ass(KIatiL. Appointmgnt of Trustees N8w Trustees are apwnt8d by a rna)nty of Trues in office at that ts'me. Trustee Inductlon and Tralning The Trustees are of wide ex[ee in frfe. TW ar8 provMtsJ with goverrtance documentatw and test practtce guidance from the Charity CommissM)n via GOV.UK and the Charity Governance CcJe and dccuments relating specrfically to thè openTrust. They are fully infom11 and kept up to date aLKxJt the Tnjsfs actwities. Page 2 of 17
openTrust Report of the Trustees for the year ended 31 December 2022 Organlsational Structure Becaus8 of the all size and limtl•J actTrithes of Trust. tt is rKX considered that any fomal structure is required. Issues to be decKled by the Trustees are dk8CUSSed and agreed at formal minuted meetings (in r$0 or onne) or are circutated via email and consKlered further rf uired. Reference and Admlnlstralive Detalls The Trustses delegate day-trrday 0[eratMal management to the Trust Administrator. Dr Ntchola Try)ke who was recruit1 at the end of 2021. The Trusvs Administratc<s remit inclLKI8s managing the Trust's finances and wodlng mthty management accounts. The Trust Administrator took over thts resrM)nsibiSty from Grewt Accountancy Ltd during the year in Aprl. rangements fcff Sett1r the remuneration of the T Adminthator are the responsbmity of the Tnjstees. Rlsk Management The Trustees assess the risks of the projects they 9JPFrfYt at their m88tings or by circulation. Majcf risks have Lwn reviewed and the Trustees do not feel that they need to have a more ful formulated FY on risk management than this at the present time. Related Parties The Trust provides grant funding to organizalions which mlFse ts (+4tiveS. openDemccracy Ltd is the main récipient of its funds arKI has a similar obpctP4es to Trust. and with on8 common director, Mr Anthony Bamett. The Trustees regulaty revi8w their relationship with openDemocwy. Th8y are satisfi8d that openDemocracy Ltd is an appropriate recipient of Trust's furKling. The Trustees arg asked to approve fomal prcp)sals for funding and ckw monitor the appltcatN)n of its funds under thè tsrms of a Memorandum of UnderstandirvJ fomial grant agfeernents which were reviewed and approved during the year. The TnleeS are aware of need to identify and manage rx)tontk81 ri8ks S£$ Ihat the charity fuifils its ot4.ects for pubh'c benefit. AJI the Trustees are aware of Ihe CharFty Ccxnmissicfft guidance on confiicts of interest, acting in thè charity's best Fnterests and WCkIng wilh a notrcharity aKI Ihis guKlance is renewed regularty. The Trusys OFeratM)n remains entirdy separate from OnDeMOcracy. Page 3 of 17
openTrust Report of the Trustaes for the year ended 31 December 2022 Objéctlves and Actlvtties Ttr object of the charity, as defined by its Mèmorandum and ArtiCS of Association dated 27 April 2001, is the advancement of educatK)n. nationah* and intemati)naly, in the gxial, environmental, political and bidogical sciences, econrxnics. law. the art5 and medkq CcffimunlcatD and other recTr3nised yjty'ects. The Trustees Gonfirm that they have c(ffnpW with their duty under the Charities Act 2011 to have due regard to public benefii guidance issued by Charity Commlssion. in particular guidance for charities with a connection to a non-chatity, guKlance cfi the advancement of education for the wLgic benefit and restrictkM on {Ical campaigning. The achievement of the chartty's aims arKI (JectiveS furtTrw the advancement of education. The Trust realizes this by Frfoviding funding throLoh ts awarcling of gmts to openDemocracy and other similar cKganisabon& Th8 Trustees measure success in the rertIng peri(xl by the increase of grants serving the objectNe of advanC1r global education. By far most of these go to openDemocracy, but we will consider directing grants to other recipients doing similar work. The Trustees see no need for social investment Fdicies at the present time. The Trust has drawn up fomial grant agreements with (YnDeMracY and these include acting within the Charty Commissi,$ gutdance polilical activty. Non8 of the Twst88s are ranunerated by the Trust and act m a vcknrtary bass. Achievements and Perforniance In the year under review, the otEnTrust has wervèj aThJ distributed approwiatety th8 fu received by tt in accordance with Éis objectives arKI reskYJnSibilits. The charity remains committed to sUpting openDemocracy, Ihe FicenTra website dedicated to gbbal edUcatic. Its aim 15 to irKrease its funding to openDemcKrdCy atKI thereby further its obj8Ctives. Flnancial Revlew The charity had net incoming res)urces for ts year of £409.545 (2021- £ (11,848)). At 31 December 2022, the charity had net assets of £834.401 {2021- £424.856) b.ng restrictgj funds of £793,780 (2021- £400,622) and unrestricted funds of £40.621 (2021- £24,234). The Trustees are satisfied with the financial Fostion of the charity at the year 8rKI. There were no sign1fant events affecting financial wfomia and financial positi during the p8ricKI. Reserv Policy The kx4icy of charty is to ensure ts sdvency ty OEbursing funds in accordance with any restrictions imp1 cffi them or when they are held wttholrt restriction. The charity incurs no liabilities unless they are fulty funded. Page4 of 17
openTrust Report of the Trustees for the year •Nled 31 December 2022 Activity durfng 2022 The Mou beeen the Trust and its main d, QwD6racY was reviJ and approved in May with two supporbng Grant Agreements prcrformas to reaise the fuwrtment of grant terms to openDemccraGy ar)J the traner of funds. The Mou includes an agreement whereby the openTrusÈ wil charge an adminiStrath fee of T/0 of the value of grants that are award&J by third paty funding txxlies. The donations made by individuals through their fcwThJatKTh, trusts c other pthrfanthropic vehicles which exceed £10,000 would also be Char the adfflinistralwe fee of 20k. DonatK)ns of £10,CKXI or less will be exempt from this fee. Thè furvj creatgy by the ccA18cti(m of th8sé fee5 will retawi sufficient funds for years of ¢JpenTrust's adminkstralivg ¢os. Trust88s were pleased to able to provkye suprh)rt for wnDem(rracy's campavJn to raise funds to support joumalists wort(ing in Rusga and the Ukraine. Donations cc41ected in support of this campaign exceeded £55,¢XYJ. The Trust commissioned Dan Gd to deswJn a kNJ) fc Ihe Trust arKI a website to be WbliSh during 2023 to provide informatM)n aboul the Trusvs Trustees and infonnatth ts govemance. how to make a donatson and c(taCt informati. Developments The openTrust looks foMar(I to ng prcMJrtts arKE devebpment in OFenDem¢XrydCy'S publishing and educational prryJrammes. It plans to roll out the rw desKJned website in the fotlowing year to increas8 its public profle a1 provide Onnation at¥xrt openTrusL Declaratlon The Trustees decknre that they have aFprOV the Trustees. repcyt above. Signed: Slr Charles Chadwyek-Heaky B Chainnan on behalf of Trustees Date. I fJ4>1l•sWW2025 Page5 of 17
openTrust kndopendent Audltorfs Report to the Membors of openTrnst Oplnlon We have audtted the financial ststements of openTrust (the 'charitable company ) for the year erthd 31.12.2022 whh comprise the Slatement of Financi81 Activty, Balance Sheet . Statement of Cash Flows 8nd notes to the financial statements. cKKIlng sgnrftcant accountsng policies. The financial r8porting framework Ihat has been applied in thr preparation applicable law United Kingdom Accounting Starnlards. including Financial ReporbNJ Standard 102 Thg Financ1 Repong Standard applicable in the UK and RepublK of Ireland (Untted Killgjc Gty Accepted Accounting Practice). In our opin*)n the financia Staents. give a true and fair vmv of ts state of the charitaNe company's affairs as at 31.12.2022, and of its incorning resources and applcab.on of rescwrces, includiro its income and expenditure, for the year then ended" have properfy prepared in aCCce with United Kingd Generaly Accepted Accounting Practice" and have Ixn prepared in acccrdance with the requirements of the Cc>mpanies Act 2006. Basis for opinion We conducted our audti in accordance with InternatJnaI Stards on ALwJiting {UK} (ISAS (UK)) and aprAicable law. Our resp)nsibditi8s under those standards are further dritEd in the auditor responsibilities for the audit of the financial statements sects'on of our reFN)rL We are independent of the charitable company in accordance with the ethical requirements that are rthvant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and wè have fulfilled our other ethical responsitxlitEs in acc¢)rdance wilh these UIrements. We believe that the audit evidence we have obtained is sufficient and aFpropriale to provide a basis our Oklnion. Conclusions relating to Golng Concern In auditsng the fina[la1 slatements. we have conckmled that the Tnth, use of Ihe gcirYJ concem basis of accounting in th8 weparatwi of the financial Ststnts is apwwiate. Based on the work we have performed, we have mt identified any material uertaIntieS relaling to events or cond[ti$ that. ItNiU or collectively. may cast Sb3nificant doubt cm the charilable company's ability to continue as a going concem for a pericKI of at least bNefve M(thS from when the financial statements are authori for issue. Our responsitilitEs and tha reswnsibiltties of the Trustees wrEh resw to going concem are described In the relevant sectKJns of thks reFKyL Other inf0mtIOn The other information comprÈses the informatx)n includ8d in the Trustees, Annual R8Wrt, other than the financia statements armj our audrtorfs rewrt thern. The Trustees are responsible for the other infomialion contained within the Annual RetNrt Our cpinion on the financial statements d( not cover the other irrfomation and, except to th6 8Xtenl otlwwise eXp¢ty stat&J in our rep(Kt, we do r¥)t express any form of assurance Gondusion thereon. Our respJnsibi&ty is to re1 the other information ar, in doing so, consider whethef the other infomiation is materially inconsistent with the financial statements cff our knowtedge (A)tained in the course of aLKlit or oiherwise appears to ts rnaterially misststed. If we idenlrfy such material inconsistencies or apparent material misststements, we are uired to determine whather this gives rise to a material misstatement in ts financkgl statements themselves. If, based on Work we have tErformèd, we C(ylde that there is a material misstatement of this other information, we are required to reFrf)rt that fl We have rK)thir¥3 to repyt in this regard. Page 6 of 17
openTrust pondent Auditorfs Report to the Meths of ¢)pwTnist Opinions on other matters prescrlbed by the C(xnpanles Act 2006 In our opinK)n, based on the work undertaken in the course of the auctit The financial statements reeEived an IndeFWKlent ExamKBlion f(x the year ended 31.12.2021, and as such, all comparatNe fvJures are unaudited. the infomiatJn given in the Trustees, Report for the financral year for which the financial statements are prepar&J is constent wtth the financial statements. and it has been prepared in accdae with awlicat4e legal requirements. Matters on whlch we are required to raport by exceptlon In the light of knowledge and undérstaThJirwJ of the Charitab company and tts environment obtained in the cr5e of Ihe audiL we have not identtfied materk3E misstatements in the Directors. Report. We hav9 rolhir¥J to rep in pect of the f(knvlrvJ matters n rektim to which the Companies Act 2006 requires us to rewrt to yw rf. in cur opinion.. adequate acCnting records have not been kept or r8tums ]ue for our audit have not been received frorn brarohes not visitgj by us,. cx Ihe financial statements are not in agreernent with Ihe accounting rec( and retuwts: C8rtain di%bsures of Directors, remuneratKY sFecified by law are not made. or we have not received all the infomiatmm and QXF4anations we rwiNe for our aud", or the Trustees were not entitled to prepare the financial statements in accordance wtih the smal companies, regime and tske advantag8 of the ynal companies. exempt5 in pr8paring th8 Directors, ReF#yt and from Ihe requirement to preparo a Strateg report Responsibllities of Trustees As explain8J more fLdty in the Ttees. r8sFmNblI1les statement, the Trustees (who are also the Directors of Ihe charitable company for the purposes of company law) are resFonsit4e for the preparation of the financial statements aThJ for beiro satisfwl that Ihey give a true fair view, and for SUGh intemal control as the Trustees deteTmirE is necessary to enable the preparation of fInarla1 statsments that are free from matersal misstat8ment. ther due to fraud or error. In preparing the financial statements. the Trustees are resnsIble for assessing the charitable company's ability to continue as a goirKJ concem, disclosing. as app5icable, matters relat to concern and using the strjing conc8m basis of accntir@ unl8ss the Trustees either intend to liquidate the cnantsts company CY to cease OKEratK. have no realistic akemative but to do so. Audltor regponsibllltles for the audit of the flnanclal statements Our objectNes are to i)btain reasonable assurance aLrt whetrEr trE financial atements as a whole are free from materBI misslatement. whether due to fraud error, and to issue an auditor's repKsrt that includes our opinion. Reasonable assurance is 8 hNJh level of assurance, t)ut is not a guarantee that an audit ¢OndUct in ac¢cYdance with ISAS {UK} ahvays detect a materiaF misststement when it exists. Misstatements can arise frcffl fraud or error and are consdered material rf, indtvilually or in the aggregate, they could reasonabty be eXted to infKEnce the (KmiC decisi(Th of users taken on the basis of these firnCIal statements. IrreguFarFties, including fraud, are instsnces of ncTrcompliance with laws and regulations. We design procedures in Ine with our responsibdities. ouuined aLKive. to detect material misstatements in respect of irregLAaritias, including fraud. Page 7 of 17
openTrust Ind8p8ndent Audknfs Report lo tho Men)ers of oponTrust Because of the inherent thmitatK)ns of an aLwJrL there is 8 risk that we wil not detect all irwularities. including those leading to a material misstatement in the financ1 statements or n0n-c0mpliare with regulatKin. This risk increases the mcffe that compliance with a law or regulatton is removed from the events and transactions reflected in the financial &atements, as we wtlE be le likely to lECce aware of inances of nOnoMlIanCe. The rtsk is also greater regarding irregulartlies Curring due to fraud rather than error, as fraLKI invcAves intentional C(Cea&t forgery. colusion, fjmission or misrepresentation. A further descrFpkn'on of our resFxxisibilibe5 is available tre FRC'S website at.. htt s:Ilwww.frc.o .uklaudf(orslaudf(-assurancelaudttor-s-r "bIles-fOr-th8Udt-0f-Ihe- fderI tion-of-thwuditor%E20A80%99s-r rKsibiIities-for-the-a1L This description forms part of our avdttorfs reFXMt. We communiGate wth those charged wtth govemance regarding, amorvJ other matters. the planned scope and timing of the audit and gnrf1Cant audit firHdings. inCding any gnrflcanI deficiencies in intemal conlrd that we klentrfy during our Use of our report This report is made sc4dy to the charttable company's members. as a tKMJy. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our auth't work has been Undtsken so that W8 might state to the chatitable c(ynpany's memters those matt6Ys we are required to stste to them in an aLKlitorfs report and for m other purtKJse. To the fullest extent Femiitted by law. we do not accept or assume responsbilty to anyone other than the charitatrAe company and the charitaNe ccxnpany's memters as a bc*ty. for wr audit work, for this r8F#Jt, or for th8 opinions we have form8J. Reza MotaTrdi (Senior Statutory A[jItOr) For and on behalf of Reza Motazedi arKJ Co.LLP Statutory Auditor Date-. P8ge 8 of 17
OponTrust Statem•nt ofFknancs31 A¢livli8s forthe yw ondod 31 De¢8n)w 2022 Unaudited Totsl 2021 Restiicted Totsl 2022 fUts Incoming resour$ Income from: Donations and Grants 32.7 1.180,7f1 1.213,727 905.430 Total Income 32.967 1,180,760 1213.727 905,430 Ref¢eS exTrded Expenditure on: Raising funds Charitable activities - eXalIUra 491 787.111 491 3,691 522 916,756 42 16, Total expenditure 16,580 787.602 804,182 917278 Net movement tn funds 16,387 393.158 409,545 111N81 Rec¢Mcillatbn of funds: Total funds brought f(Mward frixn previous financra y8ar (see rL)te 10) T¢1 funds carried fcKward io 24234 4C(),622 424,856 436,704 40,621 793,780 834,401 424,856 Continulng operations Al income and exFErhJiiuro has arisen fri¥n continuiNJ *ivib8S. Page 9 of 17
OpenTnt cha lknbor 11W404 Balance Sheet as * 31 Dec 2022 CO Numbèr 4107837 Unavdited Total 2021 lthrErictsd Resb7Cted 2022 Note Flxed assets Tangible assets 705 Totsl fixed assets 705 Current a55ets Debtors Cash at bank and in harKI 201,CQ4 662.340 201,004 7568 47.248 429571 Total current assets 47.248 910,592 429,719 CreditDfs: amunts fallirvJ vAlhin yaar 6.627 69,564 76.191 s,8 Net current a55ets 40.621 793.780 834.401 424,151 Total not assets 40,621 793.780 834.401 424,856 Funds of the Charity Unrestricted furKIs 40,621 40,621 24,234 Restrcbj income fuThJs 10 793,7eii 793.7 400.622 Total funds 40.621 793,780 834.401 424,856 These fin18[ t8merrts have been wepared in accordance lIh the provi9cffls apFdicable to charitatle companles Sublt to the smal CoMpanS regime. The financial thments were appn)ved by the Boatd of Trustees aThJ auh)tised foT issue on and were signed on its behaff by: Sir Char18s CWck-Heaky Bt: ChaMan (rf Trustees Page 10 of 17
OpenTrust Statemgnt of Cash Flows forthe yw ended 31 Do1 2022 Unaudited 2021 2022 Cash flows from operatlng actfvttles Net cash from operatirwJ activities 280,017 167,463} Totaf lncreasel(reductic) in cash in PWKM 280,017 (67.463) R•conclIan ofnetcash llow to movemmt kn net debt Totsl increasel(reduCn} n cash in 280,017 167,4&3} Cath and cath equNal8nts brought foThvard 429.571 497,034 Cash and cash Ualents carri&J fcKward 709.588 429,571 Notes to tre Cash Fkw Statement Note A: Reconcilaticm of net [jt9oIThj)l1nclnirwj res(xffces to net cash infkw frcyn operating activities 2022 2021 Net movement in funds {Increaseydecrease in Debtor5 (Decreagè)lincrease in Croditors Depreciation Purchase of fixed ass&ts 409,545 (200,856) 70.623 705 {11,8481 1521 154,858) 235 19401 Net cash from opwaing activiti8S 280,017 167,463) Note B: Anatysis of chang8s in net funds Cath at bank 709588 429,571 Page 11 of 17
OpenTrust Notss tr• the Fh)an¢ial Statements forthe ended 31 Dq¢embor 2022 Basis of preparing the financial statements Th8se accounts have tEen epal under the histor81 cost convention with items r8cognised at cosi or transaction value urkn otherwise stated wi the relevant nole{s) to these accounts. The accounts have been pr8par&J in dance wiih: the Charities SORP (FRS 1021 'AGcounting aThl Repyting by Charities: Statement of Recommanded Practs"ce applicable to chareS preparir¥J ther accounts in accordance with Financial Repcrting Standard aFplicable in the UK and Republic of Ireland (FRS 1021 (effectwe 1 January 20191,. Financial Rewrting Standard 102 The Financol Repmyting Standard apFlicatAe in the UK and Republic of Ireland and with the Charitss Act 2011. The charity is a Compeny limited by guarantee and constFtules a public benefit entity as dined by FRS 102. Accounting Pollcles Incoffle Income 15 includ&J in the Statem&rt of Financiql ActivÉlies (SOFA) when: the charity toMeS entitled to the rewce li is more likely than not that the Trustees w1 receive the resour thè monetsry valu8 can be measured wilh &rfficient rehabty. Tax reclaims on donations and glfts Grft Aid receivab18 is iluded in income Wh ttwe is a valid declaration from the donor. Any Gtft Ald amount recovered on a donation is considwed to be of that grft and is treated as an additson to the same fund as initia (k)natti the dor#x or the terms of the ap[ have 4wrfied 0rlSe. Expandlture Expenditure is accounted for accnjals basis and has been ckssrfi&J under headings that ajgregate all cost related to the category. Where costs canrN)t be dity attributed to particular headings thèy have cated to aclylities on a basis consistent with the use of resources. Govemanee and support costs Support costs have been allocated itt¥een VnCe costs and other supp¢rt GovemaKe costs c(%nprise al costs invclving accountatqlty of charity and its complianc8 with reguL3tion and prace. Support costs include central functions and have bn allocated to actNty cost cat8gorw on a basis cor6istent wsth the use of resources. e.g. afncating property costs by flcL)r areas, or p*r capita, staff costs by the time spent and other costs by thoir Page 12 of 17
OpenTrugt Notss to the Flnanclal Statements forthe yoar end 31 Docombor 2022 Tanglble fixed assets These are capitalised rf can be for mcre tsn ce year, and cost at ast £200. Th8y are vaej at ¢osL Deprsciat is provmjed at the fokning annual rates in order to write off each asset over ils estimat1 useful e. Comput8r Equryxnent - 25% Straght Lino Bass Taxatlon The charity WISter as a chanty on 14 N(Nmber 2CW and since that date has been exempt from cortxyakn tax (M its charitale trathng activities. Fund accounting Unrestricied funds can be US in accordan with the charFtable otyectNes at the diScreb. of tFk Trustees. Restricted fuTrJs can 0Y be used for particular restricted wrFoses within the cbjects of the charity. Restrictions arise when specrfied by the don or when funds are raised for particular restrict purpose& Further explanation of the nature and wrpose of fuThJ is included in the notes to the financial statements. Debtors Debtors (including trade debtors and klans r1¥ae) are measured on initial rec(yJnit¥)n at settlement amount after any tsde dlsccnts or am¢JJnt advanced by the charity. Subsequenty, they are measured al the cash rx other consderation expected to be Cash at bank and In hand Cash at bank and cash in hand inCdeS cash and thort term hMJhly Itquvj investments with short maturity of three mLxths or less from the date of acquisitsM or openiro of the deposil or similar accounL Uability recognltl*>n Liabilrties ar8 recogni1 wh8re tt is rne Id<dy than not that Ihere k8 a gaI or constructNe ob119atK committing the charity to pay out resources and the amount of the Obligat can be measured with reasb certainty. Page 13 of 17
Open Trust Notes to tho Fknancial Statèments forthe year ended 31 Docenkn 2022 11 Income from Donatl¢)n5 and Grants Unaudrled Total 2021 Lknrei¢d RethGted fuTh 2022 Core CAF Core GoCar(Iless Core JustGivirKJ Core Other Core PayP Ford Foundation Foundation For a Just SocÈety Grft Aid tax receivable Humanity United Jones Our Economy Joseph Rowntree Charitable Trust Potter Foundation Lund Trust Marmot Charitable Foundatic NeOrk for Social Change Partners for a New Economy Rockefeller BF Sebastyen The Cobalt Trust The Legal Education Foundation Tinslay Foundalion DonatH)ns Donations for Ukraine Campaign Donations for OD legal fees Total Donations and Grants 1.545 24,980 2,822 3,823 4.291 245.504 338,357 1,545 24,980 2,822 3.823 4.291 21.514 345.262 9.380 213,266 2,175 27,801 3.198 1,600 4.703 217,153 292,1)09 2,015 71,833 5,010 6.5 4.265 209,IX)1 42,127 42,987 36,CQO 36,0 14,329 6,000 50,000 157 7,7Ca) 7,857 75,(X)O 19,192 74,993 33,153 20.IX(I 20.10 29,276 25.000 1.TTO 86,730 lo,() 10,OCKI 52,5(Ki 25,000 25,000 32,%7 1.180,760 1,213,727 9)5,430 Unaudited 1 Ralskng fvnds ithrestii¢ted funts R&stricted Total Totsl 2021 Cdlection Charges 491 491 Total expendltur8 on ralslng fvnds 491 491 522 Page 14 of 17
OpenTrust Notes to tho Fknancial Stataments fortha yaar endod 31 Doconts 2022 2 Charttable actfvities -expendlture The object of theTrust rs the advancementof 1Th1¥. natM)nally intemat¥)naly. in the 9Jcial, envircmental. ltICa atKI bM?kKJica Scces, eCor1. law. Ihe arts and media commUnaOn and other rwntsed schcAarty Unaudtt Total 2021 l81¢d Reskncted funds 2022 Direct cosl of charitth actpity.. openDemocracy SupFMJrt costs: Bank Fees Bookkeeping soflware IT support and cSUmaleS Depreciation Governance 787.111 787.111 907,665 76 353 360 235 8,067 382 2,435 705 13.014 382 2.435 705 13.014 Tola exFendire on charitAe aclivitss 16,580 787,111 803,691 916,756 Support costs AIIsupKM)rt co arethcatedtothesin* clwilaLleactivrtyof tsch8rityandarew)cludedabove. 3 Govornaneè Costs knthded above Unaudrt8d Totsl 2021 furmts futKJs 2022 Accountancy fees AuditAndeFendefit examinaion Legal and3[elarIal G05ts 32r 6.000 6.056 6,000 6,055 4,521 Totslgoveman¢e¢osts 13,014 13,014 8,067 4 Trusteo remuneration None ol the TTUStees were remunerat1 during theyearorthe prevK)us year. Notrustee expenses were paid durirvJ the year 5 Staff costs There ar8 no staff dIty emFkJyed by the charity. There were rL) eX-atia payments male redundancy paYrnts made. Page 15 of 17
OpenTrust Notes to the Flnancial Slatements forthe year ended 31 DocemlKr 2022 Tanglbk ed assets CK)mwter equipment Cost At1 January 2022 Addttions At 3l08cemr 2022 Depreclatlon At 1 January 2022 Charge for y8ar 235 705 At 31 DecemtEr 2022 Net book value At 31 December 2022 At 31 December 2021 705 Unaudited Total 2021 6 Debtors Ihesth'cted Restricted furKts Other Grft Aid Debtrx 197.131 3.873 197,131 3,873 Total debtors 201,CQ4 201,tK)4 7 Cash at bank arKI tn hand Unrestricied Resti5Cted funts Tola 2022 Total 2021 Co-OFerative Bank 47248 2¥2 703,540 427,539 GBP PayP 2.032 Total cash * bank and in hand 47248 862.340 7CI3,588 429571 Page 16 of 17
Open Trust Notes to the Fknanclal Statoments forthe year ended 31 D8cenkn 2022 8 Credttoys: aftunts falng duewknkn one Unaudited Tot 2Q21 Lhestted Re#icted funds Tota 2022 Accounts Payablg Accruals 158 5,410 6.627 69,564 76.191 Trtal cred15 due wlthfn one year 6,627 694 76,191 5,568 9 Charltyfunds- current year The restrict fund k8fuThts fmm dOnCt0 be passed on to OpDeM(tracY Linited in the furth8rance of maintsinitvJ a pIc1j webste dedatj to gk*bal educalion. At At31 December 2Q22 1 Janu Incoming 50U ResOue$ expende Restrlcted rtd$ Restricted fund fcf OpenDemoGracy 400,622 1,180,7&J 787,602 793.780 Total Restricted funds 400,622 1,180.7 787.602 793,780 Unrestrlcted funds 24234 32. 16,581) 40.621 Total funds 424,8 1213,727 804,182 834,401 10 Charlty funds - prevlous year Unaudlted At31 DoComb8r 2021 A11 January IrKonMr#a ou Reso¢Jrce5 exp8TrJ•J Restrlcted funds Restrlct8d fur%1 for OFenDemctracy 421032 886,977 908.187 4Cx),622 Tolal Restrkted fvnds 421032 886.977 9)8,187 4CQ.622 Unrestrictod funds 14072 18.453 9.091 24,234 Totsl funds 4&8,704 9)5.430 917,278 424,856 Page 17of 17