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2022-06-30-accounts

INTERCLIMATE TRUST

Financial Statements

for the year ended 30 June 2022

Company limited by guarantee no. 04174919 registered charity no. 1100981

1

Classification : Internal

INTERCLIMATE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY,

ITS TRUSTEES AND ADVISERS For the year ended 30 June 2022

Registration Details

Accounts

Prepared by Francesca Streeter (Treasurer)

Interclimate Trust and Interclimate Network

InterClimate Network (ICN) is owned by and is the brand and trading style of Interclimate Trust (ICT). All our work is done under our Interclimate Network name and our stakeholders know us by this name. Throughout this document we refer to both ICT and ICN but they are the same entity.

Independent Examiner

Alastair Gordon, ACA 64 Castelnau London SW13 9EX

Bankers

Barclays Bank Plc 128 High Street Cheltenham GL50 1EG

2

Classification : Internal

Trustees’ Report

The Trustees present their annual report and financial statements of the charity for the year ended 30 June 2022. Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with current statutory requirements, the charity's governing document, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Address for Correspondence

Francesca Streeter (Treasurer) Interclimate Network c/o Rodic Davidson Architects 1 Pied Bull Yard London WC1A 2AE

Directors and Trustees

The directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees serving during the year were as follows:

Structure, Governance and Management

Governing Document

InterClimate Trust is a company limited by Guarantee governed by its Memorandum and Articles of Association dated 23 February 2001 and amended by Special Resolution of 17 July 2003. It is registered as a charity with the Charity Commission.

Appointment of Trustees

As set out in the Articles of Association, existing Trustees invite and appoint additional Trustees. Trustees are not required to retire by rotation.

Trustee Induction and Training

Newly appointed Trustees meet with existing Trustees to explain their duties as a Trustee and to determine if any specific training is required to enable them to fulfil these duties.

3

Classification : Internal

Organisation

The Board of Trustees administers the charity. The board meetings are held at least 4 times annually.

Policies

The Trust has policies in place for:

Related party relationships

The Charity has considered the disclosure requirements of the SORP for related party relationships. The Trustees consider that the members of the board and their close connections and Interclimate Network to be the only related parties of the charity. All Trustees give their time voluntarily and receive no benefits from the charity. Details of Trustee expenses and related party transactions are disclosed in notes 6 and 7 to the accounts.

Trustees are required to disclose all relevant interests and register them with the Chair at the beginning of every Board meeting and to withdraw from decisions where a conflict of interest arises.

Remuneration policy for key management personnel

The Charity consists of paid consultants (that we call “associates”) including Michila Critchley, Cecily Etherington and Rachel Shepherd, in addition to unpaid volunteers. The associates are paid on a day rate basis for specified tasks and deliverables. These day rates are reviewed annually however they have not been increased for a number of years partly because they continue to be competitive and partly due to concerns of long-term affordability. The Trustees also draw on their knowledge of the sector and common practice in other charities of similar size to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.

Statement of public benefit

The Board of Trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

Objectives and Activities

InterClimate Trust is incorporated to advance Global Citizenship Awareness. Our charitable objectives are:

  1. To promote, maintain, improve and advance the education of the public, schoolchildren and students in tertiary education, of the social economic, environmental and other characteristics and concerns of developing countries and their relationships with other countries;

  2. To promote, maintain, improve and advance the education of the public, schoolchildren and students in tertiary education, in subjects concerned with hunger, disease, poverty, and ignorance and the solutions thereof;

  3. To promote good relations between people of different national, racial and ethnic origins and religious beliefs;

  4. To relieve poverty, advance education, protect and preserve good health and protect, enhance and restore the natural and physical environment throughout the world and particularly in developing countries.

4

Classification : Internal

Climate Voices Programme and the Transition to Climate Catalysts

The period from July to December 2021 was the final phase of our Climate Voices (CVII) programme culminating in a significant term of action as ICN provided a route for secondary students to engage with COP26 being held in Glasgow. Our high profile events began with a 4 Nations Climate Conference in partnership with Size of Wales and supported by Scottish Power in the run up to COP 26, with several schools going on to participate in events in Glasgow. We ran a combination of in-person and virtual Model Climate Conferences for students from 42 schools, facilitated conferences hosted by others, and shared a new free COP26 Resource that was used in classrooms and other settings both in UK and elsewhere.

The final Climate Voices report was submitted to our key funder, Joseph Rowntree Charitable Trust (JRCT), on 31st January 2022.

After 6 years of Climate Voices the beginning of 2022 was a transition period to our new programme, Climate Catalysts, an inclusive programme to deepen and widen impact of youth-led peer-to-peer climate campaigns. Our Climate Action Surveys and supporting resources were taken up by eco-groups in Buckinghamshire and rolled out in areas across the country. We will elevate young people’s voices, providing effective skills development and platforms to nurture passion and empower long-term ability to affect change to protect our climate.

The key activities over the period from July 2021 to June 2022 consisted of the following:

COP26 Climate Conferences. ICN held these in-person and digitally comprising global negotiations and local action with:

COP26 Resource & training

Transition to Climate Catalysts

5

Classification : Internal

as many of their peers as possible. By bringing these views together, it is possible to identify motivations for more climate action across the piece, to inform more strategic interventions that are likely to work in a secondary school context.

I-CAN Erasmus+

FINANCIAL REVIEW

Financial position

ICN was established and continues to be run as a virtual organisation with no offices, overheads or employees. This way of working not only reduces our costs and enables us to maximise the resources that go into our programmes but it also reduces our carbon footprint. The Charity achieved a total income for the year of £85,600, an increase of 68% on the previous year, and total expenditure of £67,397 an increase of 16% on the previous year.

Reserves policy

The charity’s reserves policy is to maintain £1000 in a separate bank account as contingency. Given the close attention paid to cash flow and accounting in addition to the small scale of the organisation there is no other reserves policy. At the year end, the charity had unrestricted reserves of £4,596.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operations until mid 2023. Our Fundraising Working Group are actively working on several fundraising opportunities to secure funds for the remainder of 2023 and beyond. This is not an unusual situation for ICN and the Trustees are confident that funds will be secured to deliver our programme. As noted above, we operate with a very lean and agile organisation and cost base that enables us to be resilient in times of low funding. For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements

Climate Voices and Climate Catalysts Budgets

In addition to the grant from Joseph Rowntree Charitable Trust, we were grateful to the following for their financial contributions:

6

Classification : Internal

£13,547 was carried forward for the remainder of the Climate Catalysts project. Our financial management has been carried out on a voluntary basis, which has been a significant contribution as has the work of an experienced volunteer focusing on fund-raising. Other volunteers have been involved in everything from communications and social media, interviewing teachers, to newsletter development through to developing background briefings for the Model Climate Conferences. This has meant that we have been able to not only deliver on the project but expand what we offer to schools within Climate Voices.

On behalf of the board:

......................................................................................

James Streeter

Chair

Date: 29 March 2023

7

Classification : Internal

Netwo 114TERCUMATE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES For the year ended 30 June 2022 I report on the 2ccounts of the charity for the year ended 30 June 2022 set out on pages 9 to 17. Responslbllltles and ba515 of report As the charity trustees of the Trust land also its direttors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Att 20111'the Ad'l. Having satisfled myself that the accounts of the Trust are not required to be audited and are ell8lble for Independent examination. I report in respect of my examinatFon of the Trusys accounts tarried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dirertions given by the Charity Commission under sectlon 145151{bl of the Art. Independent examlne¢s statement. I have completed my examlnaflon. I conflrrn that no materlal matters have come to my attentlon In connectlon wlth the examination givin8 me cause to believe that in any material respect: accounlln8 records We￿ not kept in respect of the Trust as reqUI￿d by sectlon 130 of the Art,. or 2. the accounts do not accord with those records. or 3. the accounts do not comply wlrh the applicable requirements concernin8 the form and content of accounts set out in the CharIt￿$ IAccount5 and Reports) Regulations 2C08 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examinatlon,. or 4. the accounts have not been prepared in accordance wlth the MetI￿d$ and principles of the Statement of Recommended Practice for accounting and reporting by charitles. I have no concerns and have come across no other matters in conneclion with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alastair Gordon, ACA Date.. 29 March 2023 64 Castelnau London SW13 9EX

INTERCLIMATE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating Income and Expenditure Account & Statement of Total Realised Gains and Losses) For the year ended 30 June 2022

Unrestricted
Funds
Note
2022
£
INCOME FROM
Donations and legacies
2
1,920
Charitable activities
Schools and Other
2
-
Climate Voices
2
-
Erasmus I-CAN
2
-
Climate Catalysts
2
TOTAL INCOME
1,920
EXPENDITURE ON:
Charitable activities
Climate Voices
4
-
Erasmus I-CAN
4
-
Climate Catalysts
4
-
Support Costs
8
1,424
TOTAL EXPENDITURE
1,424
NET MOVEMENT IN FUNDS
496
RECONCILIATION OF FUNDS
Total funds brought forward
4,100
TOTAL FUNDS AT 30 JUNE
2022
4,596		 Restricted
Funds
2022
£
-
1,100
35,450
14,110
33,020
83,680
33,184
12,905
19,884
-
65,973
17,707
2,905
20,612		 Total
Funds
2022
£
1,920
1,100
35,450
14,110
33,020
85,600
33,184
12,905
19,884
1,424
67,397
18,203
7,005
25,208		 Unrestricted
Funds
2021
£
3,248
-
-
-
3,248
9,888
-
-
198
10,086
(6,838)
10,938
4,100		 Restricted
Funds
2021
£
-
40,789
7,065
-
47,854
43,054
4,800
-
-
47,854
0
2,905
2,905		 Total
Funds
2021
£
3,248
40,789
7,065
-
51,102
52,942
4,800
-
198
57,940
(6,838)
13,843
7,005

The annexed Notes form part of these financial statements

9

INTERCLIMATE TRUST

(Registered charity number 1100981, registered company number 04174919)

BALANCE SHEET As at 30 June 2022

Notes
CURRENT ASSETS
Debtors – Accrued Income
9
Cash at bank and in hand
CREDITORS: amounts falling due
within one year
10
NET CURRENT ASSETS
FUNDS
Restricted funds
11
Unrestricted funds: general fund
11		 £
4,100
47,562		 2022

£
25,208
25,208		 £
-
27,487		 2021

£
51,662 27,487
(26,454) (20,482)
20,612 2,905
7,005
4,596 4,100
7,005

The annexed Notes form part of these financial statements

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year to 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

10

INTERCLIMATE TRUST

STATEMENT OF CASH FLOWS
For the year ended 30 June 2022

£
Cash flows from operating activities
Net cash provided by / (used in) operating activities
(Increase)/decrease in debtors
(4,100)
Increase/(decrease) in creditors
5,972
Cash flows from investing activities
Cash flows from financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the year end		 2022
£
18,203
1,872
-
-
20,075
27,487
**47,562 **
£
50
12,894		 2021
£
(6,838)
12,944
-
-
6,106
21,381
27,487

11

INTERCLIMATE TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022

ACCOUNTING

1. POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, as updated on 2 February 2016 (SORP 2016), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2015 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.

Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

Going concern

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income

Income is recognised when the charity has entitlement to the funds: this is when any performance conditions attached to the income have been met, it is probable that the income will be received, and that the amount can be measured reliably.

Income is only deferred when: The donor specifies that the grant or donation must only be used in future accounting periods; or for performance related grants, where these are received in advance of the performances or specific event to which they relate.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

12

INTERCLIMATE TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is considered all to relate to Charitable activities and includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.

Allocation of support costs

Support and governance costs have been allocated between charitable activities based on estimated staff costs. The allocation of support and governance costs is analysed in note 4.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Judgements and key sources of estimation uncertainty

No significant judgements have been made in the process of applying the above accounting policies and there are no key sources of estimation uncertainty.

13

INTERCLIMATE TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022

2. INCOME

INCOME
Charitable activities: Grant and
donations Climate Voices:
- Joseph Rowntree Charitable
Trust
- Size of Wales
- Reading Borough Council
- Solihull Metropolitan Borough
Council
- Schools
-
Ethical Giving
- Aberdeen Asset Management
/abrdn Charitable Foundation
Grant and donations Climate
Catalysts:
- Dr Martens Foundation
- Solihull Metropolitan Borough
Council
- King Cullimore Charitable Trust
- Aberdeen Asset Management
/abrdn Charitable Foundation
- AVIVA crowdfunding
Grant and donations Liverpool
world I-CAN
Donations: Schools and others
Donations
and legacies		 Unrestricted
Restricted
Funds
Funds
2022
2022
£
£
-
7,300
-
20,000
-
3,500
-
2,500
-
650
-
500
-
1,000
-
11,500
-
1,360
-
6,000
-
9,000
-
5,160
-
14,110
-
1,100
-
83,680
1,920
-
1,920
83,680		 Total
Funds
2022
£
7,300
20,000
3,500
3,860
850
500
10,000
11,500
1,360
6,000
9,000
5,160
14,110
1,100
83,680
1,920
85,600		 Total
Funds
2021
£
40,789
-
-
-
-
-
-
-
-
-
-
-
7,065
-
-
1,920		 47,854
3,248
1,920 51,102

14

INTERCLIMATE TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2022

3.
INVESTMENT
INCOME
Interest receivable from:
Cash at Bank		 2022
2021
£
£
NIL
NIL
NIL
NIL

4 ANALYSIS OF EXPENDITURE

Charitable activities
Climate Voices
Erasmus I-CAN
Climate Catalysts
Support costs		 Direct
costs
2022
£
6,040
1,255
4,184
11,479
1,424
12,903		 Direct
costs
2021
£
3,048
-
-
3,048
198
3,246		 Consultant
costs 2022
£
27,144
11,650
15,700
54,494
-
54,494		 Consultant
costs
2021
£
49,894
4,800
-
54,694
-
54,694		 Total 2022
£
33,184
12,905
19,884
65,973
1,424
67,397		 Total 2021
£
52,942
4,800
-
57,742
198
57,940

Of the total expenditure of £67,397 (2021 - £57,940), £ 1,424 (2021 - £198) was unrestricted expenditure, and £65,973 (2021 - £57,742) was restricted expenditure.

5. CONSULTANCY COSTS

These represent self-employed associates and are not salaried employees.

6. TRUSTEES' REMUNERATION AND EXPENSES

No Trustee received any remuneration or payments for services rendered to the charity.

No Trustee received a reimbursement of expenses, subsistence or otherwise (2021 None).

7. RELATED PARTY TRANSACTIONS

The Trustees have found no other related party transactions to disclose in these accounts.

15

INTERCLIMATE TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 June 2021

8.
SUPPORT COSTS
Other support costs:
Web/IT
9.
DEBTORS
Due within one year
Accrued Income
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
Accruals
Deferred Income		 2022
£
1,424
£1,424
2022
£
4,100
4,100
2022
£
19,389
7,065
26,454		 2021
£
198
£ 198
2021
£
-
-
2021
£
13,417
7,065
20,482

16

INTERCLIMATE TRUST NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 June 2022

11. STATEMENT OF FUNDS

STATEMENT OF FUNDS
Brought
Forward
Incoming
Resources
2022
2021
£
£
£
SUMMARY
OF FUNDS
General
Funds
4,100
1,920
3,248
Restricted
Funds
2,905
83,680
47,854
7,005
85,600
51,102
ANALYSIS OF NET ASSETS
BETWEEN FUNDS
Designated
Funds
£
Net current
assets
-
Nil		 Transfers and
Resources Expended
Investment
gains/(losses)
2022
2021
2022
2021
£
£
£
(1,424)
(10,086)
-
-
(65,973)
(47,854)
-
-
(67,397)
(57,940)
Nil
NIL
Unrestricted
Funds
General
Restricted
Funds
Funds
£
£
4,596
20,612
4,596
20,612		 Transfers and
Investment
gains/(losses)
2022
2021
£
-
-
-
-		 Carried
Forward
£
4,596
20,612
25,208
Total
Funds
£
25,208
Nil
NIL
25,208

ANALYSIS OF NET ASSETS 12. BETWEEN FUNDS

OTHER COMPANY

13. INFORMATION

InterClimate Trust is a charitable company limited by guarantee, registered in England with registration number 04174919. Its registered office address is c/o Rodic Davidson Architects, 1 Pied Bull Yard, London, WC1A 2AE. The accounts are presented in GBP rounded to £1.

17