Moore Thompson Trusted Advisers Chartered Accountants Company Number- 05128833 CHANGE AGENTS UK CHARITY (A COMPANY LIMITED BY GUARANTEE) AND ITS SUBSIDIARY UNDERTAKINGS Financial Statements. for the year ended 31 March 2021 Charity Number - 1104230 Company Number- 05128833 Change Agents UK AIERK554 09110r2021 CpANIEs HOUSE "#3>
CHANGE AGENTS UK CHARITY Lègal and administrative infomlation for the year ended 31 Mah 2021 Directors and Trustses Trevor Gibson Or lan Paton Sadia Moeed Professor Mark Lemon Charlotte Palmer Dr Emma Fieldhouse Chair Vice-chair Resigned 9 Q)ecember 2020 Chief Executive Alexandra Jo Company Secretary Moore Thompson Reglstered office Oakham RaiaY Stat7 Station Approach Oakham Rulland LE15 6QT Company registration number 05128833 Charfty reglstratlon number 1104230 Independent Examiner Moore Thompson Bank House Broad Street Spakling Lincs PE11 1TB Bankers The Ccoperabve Bank plc Stockport Business Direct PO Box 250 Skelmersdale WN8 61 CCLA Investment Management Funds COIF Charity Funds 80 Cheapside London EC2V 60Z Page 1
CHANGE AGENTS UK CHARITY Legal and administrative infomiation (Continued) for the year ended 31 March 2021 Solicitofs Buckles So1OIs LLP Grant Hwse 101 Bourges Boulevard PeleTborough PE1 1NG Insurance brokers Pl8 Insurance Brokers aQmen underrtin9 SeN Southgate House Southgate Street Glou¢ester GL1 1UB Page 2
CHANGE AGENTS UK CHARITY Index for the year ended 31 March 2021 Page Legal and administrabve infomiakn.on 1to2 Rep)rt of the trusiees 3to8 Independent examiners report to the membefs Consolidated Statement of Financial AthitEs 10 Group and chanty baLgnce sheets 11to12 Notes to the financial statements 13to22 Fund comparatives 24to25
CHANGE AGENTS UK CHARITY Report of the trustees for the year ended 31 March 2021 The Board of Trustees of Change Agents UK Chanty, who are also directors of the Charity for the purposes of the Companies Act. are pleased to present their annual report for the year ended 31 March 2021 undef the Charit¢es Act 2011. together with the independentty examined accounls for the year. The Board of Trustees ¢onfirms that the latter comply with the requirements of the ACL the Trust Deed and the Charities SORP FRS 102 REFERENCE AND ADMINISTRATNE INFORMATION The organisation is a charrtable company, registered under charity number 1104230 limited by guarantee, incorporated and registered as a charity on 14 May 2004. The charity was estsblished under a Memorandum Asslab"0n. which established its object and [eTS Change Agents UK Charity Trustees. executive officers and principal addresses of the Charity are as listed on page 1. Particulars of the Charity's prOfeSonal advisers are given on pages 1 to 2. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming Document Change Agents UK chaTY is govemed under its Article of ASsociatn. In the event of the charity teing wound up members are required to nIn"bUte an amount not exceeding £1. Governing Bodies The Charbty is govemed by the Board of Trustees detailed on page 1. Appointmgnt The Directors of the charity are also Trustees for the purposes of ¢hanty law and under the Charity's Articles are known as members of the Board of Trustees. Under the requirements of the MemorandLtm and Articles of Associalton. a third of the members of the Board of Trustees are required lo retire al the annual general meetiThJ. Members required to retire may stsnd for re-election. Recruilmenl of Trustees Analysis cairied out each year Klentifies certain skills that would be required for the Board in future. A sustsined effort has been made to recrnit trustees wth these skills and experience to improve the quality and effectiveness of the board. ASI members of the 8oard of Trustees gwe their kn.me voluntarily and recerved no benefits from the charity. Organisational Management Day-to-day management of the Charity is overseen by the Chief Executive Group Structure and Relationships The Charity has a wholly ¢)wned trading subsidiary. Change Agents UK Tr*Jing Ltd. the sole purpose of which is io undertake projects and generate fvnds to support the Charity with a eross<harge lo the trading Subsidiary to feflect work undertaken on its behalf. Much of the work undertaken in the trading subsidiary directly supports the Charitys obje¢tNes in temis of raising publ awareness on sustainable development through the provision of recruitrnent. training and work placements for projeels that deliver sustainable change. Profits generated in the tradin9 subsidpry a gift-aided to the Charity unded a Deed of CovenanL lo support its work in educatitin for sustsinability and employabilty. Change Agents UK Charity supwrts young people. eduCatn, employabilrty and communities partty through eorkIng and partnerships wth organisabons in the public. private and third sectors working in the fieltj of sustainabilty. The Charity also benefits from an 'alumnf' network whose close support we greatty aPPclate and a¢knoedge. Page 3
CHANGE AGENTS UK CHARITY Report of the trustees Icontinued) for the year ended 31 March 2021 Rlsk Management The Trustees have ¢oft$red the major risks fa¢ed by the chanty. Risks are managed and minimised by monthly reporting and actft and by reviewing poliCS perKfvJically. The Board has fomally adopted the Chanty Govemance Code as a mechanism to underpin its Compln with legal and reguLalory responsibilib"es. Volunteers Our volunteers fall into several categone$. There a our Board of Trustees, who take responsibilty for eorporale governance and the strategic management of the charity. Professor Stephen Martin. our President and Co-Founder. works hard on behaff of Ihe Charity and regularly lends rt the benefit of his COnserable knOedge, skill and support. Then Ihere are our other exPerneed volunteers, who conlribule their skill and lime to our charitable endeavours, particularty in training and devebpment. Change Agents UK Charty gratefully acknowledges the contributn of our volunteers and thanks them formally for all of their hard work. All our volunteers give their time frty and receive no financial benefit from the Charty. WHAT WE DO AND WHY Charitsble Objects Our charitable objectives are'lo advance the educab.on of the publ n sustainable development by the provision of exhibi(ions, meetings. lectures. classes. seminars and courses either alone or with others, and to promote and undertake research for the public benefft in sustainabk development and to disseminate the useful results of such research.. To us. Sustainab development means a way of leaming. living and working that integrates enmronmentsl piotecty.on and management wrth both social and economic development. in a way thai does not Compromise the ability of other people, now or in the fulure, lo meet their own needs. We support the delNery of the Sustsinable Development Goals and we woik towards the realisalion of a Iow-carbon economy and a se¢ure, resilEnl and fair future for all. Strategi•s Pèise pvblicaL+iareDessof ihe Su5tainableDevelopfflentGoa15 the climatEemer8ency. &Jpport and empower the next Eenerationto have the si115aThd kno%edge needed forthe future. Build networksthèt enÈage individuals and organisations In V40rking towards h fair and zero-carbon future A greater number of eng3qed and 3rtiveyoun¢ people able to elfeci chanÈe throuÉh theirchoices and ctions -we Measure Knowledge & Skills to participate Confidence EO Aci Interacti¥. relevant Growrh ol irnpxt. reachinB new audiences and prioritlsin8diver5ity nd intlusioTr Buildin8partnerships to arnplify rne553ges. achieve more togetherand 5upptrri tèrnpaigns lor attion opportunitiesfor climate and 5UStain3bility iollabor3tion Providing SUPPOrted eal wodd meaninBful work experience P4e4
CHANGE AGENTS UK CHARITY Report of the trustees (continued). for the year endod 31 Mar¢h 2021 Objectives for the year After a year of restructure in 2019f20. our objectives for 2020121 were to ach*ve growth and maximise our impact across our Charity's work in educab.on for sustainabilty. supporting employability and skills for the fuknre and helping young people lo find meaningful. Pa woth 0pportunrt5. We aimed lo act on our resear¢h by implements.ng new educational prc¥Jrammes that are focused on the skills needed to achieve Net Zero and the delivery of the Sustainable Development Goals. In financial terms, we aimed lo grow our income by 30QA and break even. We sought io grow our nerk of partners and work to improve diversity and inclusion in the field of sustsinability and environmental protecn. THE YEAR IN REVIEW Delivering our objectives duftng C¢)vid-19 At the start of 2020. we had en through a succes5fv1 restructu and had a strong pipeline of work and income Opportun"es.. then Covid struck and we began the financial year in a pandemic situatson The first lockdown required u5 to adapt our operatsons al SFeed lo facilitate remote delivery ol our services,. oui staff are usually offwbased and, prior lo Covid. we often undertook our work in Iwson, facilitating sustainability placements with organisalions across the UK and delivenng tfaining and educabon to young people and graduates face-to-face. As the first lockdown was announced, many of the projects and placements we were undertaking with our partners were placed on hold. requiring us lo make use of the furtough scheme for some members of stsff whose work could not continue during that period. The management team and other staff worked extremety hard lo reorganise processes, adapt lo new realities lo deliver our charitable objectsves and bnng forward new Ideas and income streams to continue our important work. Covid-19 presented unpre¢edented ¢halienges for our Charity, in tenns of operational change, the need to f(nd new and innovaltve ways of delivering lo our beneficiaries and the management of the the financ1 hallenge. bul through the energy and enterprise of our team. we were abk to deliver our objectives and cover our ¢osts during the year. Educatlon & Leamlng Education and learning are central to our charitable mission, and we were keen to ensure that these continued during the lockd¢)wn. Having undertaken a research project examining Skills for the Future in partnership with the Environmental A$sl8t)n of UniversitS & Colleges IEAUC}, we were particularly keen to address the needs that it identified. We disblled the arningS from our research and practice lo reate our Sustsinabje Futures programme, designed to educate young Feople aged 16-24 on the sustainability and employability skills that are needed n¢JW. We piloted Sustainable Futures with the Yorkshire Wildlrfe Trusys Yourbg Leaders during lockdown. delwering a 3-workshop programme lo them remotely. We also began lo talk lo other OrganisatnS and educators to explore the need and appeble for this programme for young people. The feedback was unequivocal.. that a programme spanning education for sustainability, skills for the luture and making the transition from edUCatn into work is much needed, parb'culady for young people in less advantaged areas. We successfulty applied for funding from the Postcode Local Trust lo enable us to expand our delNery lo reach hundreds more young people with this prc4Jramrne in 2022. Page 5
CHANGE AGENTS UK CHARITY Report of the trnstees (continued) for the year ended 31 March 2021 Sustainability work placements Creating and sUPPQrting paKI work placements for'change Agents. in $ustainabilty is an important way in which we deliver our obiectwes. supporting our partners to resource sustainability prOjeS and providing opportunities that enable people lo begin meaningful careers. We We able to continue lo provide this service during lockdowns. adapting our processes to reflect the changed realty of work during this lime. However, we saw a significant YearOn-year decline in placemenl numbers as partner organisalions we unable to accommcdate new team members or undertake many planned projects due to operational and financial constraints during the necessary lockdowns," we supported 11 new placements, down from 30 in the prior year. This required us to become more creative, to enable us both to reach our beneficiaries in new ways and to diversify our income strategy to close the funding gap that would be ¢reated by a decline in acts.vity in our trading subsKliary. the profits from lch are gift-atded to the Charity. In January 2021. we were apwoved as a lQckstart Gateway organisation and had fvnding approved for the first tranche of"Kickstart for Sustsinability placements. Kickstart creates funded work placements for young unemployed people in receipt of Universal Credrt. helping them lo take the first steps into work and ¥quire skills that wll benefit their future careers. We established-Kickstart for Sustainability" lo nJn through 2021, working with unNersiknes. colleges and other organi5alions and businesses involved In sustainability. This wll enc¢)urage Ihe creation of opportunities in sustsinabilty for young Feople from many different backgrounds and we believe this wll posibvety support diversity and inclusion in the sustainabilty field. Financial review Group Income amounied to £345,43912019r20.' £2C6.218}. Total EXp8ndrtU came to £334.211 {2019r20: £245,704). The overall Group results for the year show net surplus. before tax, of £11.228120191201£39.486} loss). In a challenging year, we were able to divetsfy our income sources and manage our costs effeth'vely. Our overall income is up 67% year-on-year and our year-end result shows a small surplus. We were successful in our bid lo the Nats"onal Lottery Culture Recovery Fund for Hertsge. which prOved u$ with Core fvnding during the second half of the year. enabling us lo develop important and relevant programmes, such as Ki¢kstart for Sustainability and Sustainable Futu$ We were also successful in receiving grant funding from the P05tcode Local Trust to expand our Sustainable Futures pr¢JJramme in 2022. ReseNes policy The Trustees have ¢onsidered the requirement for free reserves whh are those unrestricted funds noi invested in tsngible fixed assets. fixed assets inveslmenls. or designated for specific purpo$e5 or othemise committed. The Trustees have decided that the group shoukl seek lo maintain free reserves equivalent io 3 months, revenue expendrture. The Group Balance Sheet shows free reserves. or Unrestricfrd Funds. of £152,252 {2019r20." £140,912). The Trustees have a reasonable expeCtatn that the Charty will conbnue in operational existence for the foreseeable futvre". the Trustees are not aware of any material uncertainties about the entity's abilty to continue. Therefore the Twstees have used the going concem basis in pparing these financial stalemenls. Page 6
CHANGE AGENTS UK CHARITY Report of the trustees {continued} for the year ended 31 March 2021 Plans for future periods Change Agents UK are keen to pmwde support and resources lo help UK organi5alions address the Climate Emergency and focus on the delNery of the Sustsinable Development Goals. Change Agents UK will continue to build rts nets¥ork of graduates and young people keen lo use their skills and careers lo build a more Sustainabie worfd and help lo delNer a low cart>on. resilient future for all. We will seek to develop further the range and reach of placements and training we can offer. We will expand our research activities, focusing on skills for the future and the expansion of the Sustsinable Futures programme. We will continue to expand our partnerships wrth other Organisafts who Sha our values. Public benefit The Trustees have conshyered the Chanties CommissK)n's requiremenl in resFect of Public Benefit when reviewng our aims and objecb.ves and in planning future actr"viltes. The Chafity undertakes a range of activities in pursuance of ils Charitab aims. The Trustee5 consider that these activitses provide benefft by advancing education in sustainable development through providing and facilrtating training, seminars and workshops. attending conferences and through projects. work placements and the assimilatson of knOWge and practical arnIng through real an(1 meaningful wort( opportunities. STATEMENT OF TRUSTEES. RESPONSIBILITIES Company and charity law requires the Truslees of a chanty to prepare financial ststements for each financ1 year which give a tnje and fair ¥iew of the state of affairs of the charty and of the surplu5 Or deficit of the chanty for that perK>d. In preparing these financial ststements. the Tnjstees are required to: Select suitable accounb.ng poIleS and then appty them eonsi$tentty. make judgements and estimates that are reasonable and prudent.. stste whether appliCae accounting standards and statements of recommended pract {SORPI have been followed. suty'e¢t to any departure disclosed and explained in the financial statements.. Prepare the financial staiements on the going ¢oncem basis unless rt is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonab accuracy at any time the financial p)sition of the company and enable them to ensure that the financial statements comply wlh the CoMpanS Act 2006. They are also responsib for safeguarding the assets of the company and hen¢e for taking reasonable steps for the prevention and detecbon of fraud and other irregularib'es. The maintenance and integrity of the Charivs website is the iesponsibilty of the Trustees. Legislation in the United Kingdom governing the preparation and disseminatK)n of fiftanCl statement5 may differ from legislations in other jurisdictions. Insofar as the Trustees are wware". There is no relevant audrt inforniation of wh¢h the Charitys examiner 1$ unaware.. and They have taken all Ste that they ought to have tsken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Independent Examiner A resolution proposing the re-apwintment of Ken Maggs of Moore Thompson as independent examiner will be put to the members at the Annual General Meeb'ng. Pa9e 7
CHANGE AGENTS UK CHARITY Report of the trustees (continued) for the year ended 31 Mah 2021 Small company provisions This report has been prepared in a¢eordance with the speck?1 provisions for small companies under part 15 of the Companies Act 2006 and wrth the Charrties Ststement of Recommended Practice FRS 102. The statement of finanryal activtbe5 has been prepared in accordance Nwth the special provisions foi small companies under part 15 of the Compan*s Act 2006 and th the Financial Reporting Standards for Srnaller Entities IEffe¢twe April 20181. This report was approved by the Board of tnjslees ........ . . . .. . and smjned on ils behalf by Trevor Gibson Chairman Registered offic• Oakham Staton station Approach Oakham RuUand LE15 6QT Page 8
Independent examiners report to the members of CHANGE AGENTS UK CHARITY I report to the charity tnjstees on my examinatvjn of the consolidated accounts of the Group comprising Change Agents UK Charty I'the chartity'l and its subSidry undertakings for the year ended 31 Mareh 2021 which are set out on pages 10 to 25. RpOnsIbl11t1ES and basis of report As the trustees of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the conSolated accounts of the Group in accordare with the requirements of the Companies Act 20c61.lhe 2006 Act'l and the Charities Act 2011 {'the 2011 Acr} and you have chosen to prepare consolthted accounts for the Group. Having satisfied myself that the accounts of the group are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the consolidated accounts. I have carried out my eXaMinatn under sectv)n 145 of the 2011 Act. In carrying out my examinats.on I have folbwed the Oire¢bons gNen by the Chanty Commission under sects'on 145{51{bl of the 2011 Act. Independent examinerfs statement Since the group's gross income exceeded £250.000 your examiner must a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified lo undertake the exarninatn because l a member of the Instrtule of Chartered Accountants of England and Wales. which 15 one of the listed bodies. I have completed my examination. I confinn that no matters have come to my attention in connection with the examinats'on giving me cause lo believe.. accounting records were not kept in respect of the group as required by section 130 of the 2011 Act and section 386 of the 20C6 Act." or the accounts do nol accord with those records." or the ac¢ounts do not comply wth the accountsng requirements of section 396 of the 20C Aet and the Charities (Accounts and Reports) RegulatK*ns 2008 other than any requirements that the accounts give a 'true and fair view whh is nol a matter consKlered as part of an independent examination.. or the account5 have not been prepared in accordance the methods and principles of the statement of Recommended Practs"¢e for aecounting and repO"ng by charities applicable to charities preparing their accounts in accordance with the Financial ReFM)rting Standard applicable in the UK and Republic of Ireland (FRS 102)_ I have no concerns and have come a¢ross no other matters in conneetKin th the examination to which attenb'on should be drawn in this rewrt in order to enable a proper understanding of the accounts to be reached. K J MAGGS FCA. 8C MOORE THOMPSON Chartered Ae¢ountants Bank House. Broad Street Spalding PE11 ITB Date: Page 9
CHANGE AGENTS UK CHARITY Consolidated Statement of Financial Activities (incorporating the consolidated income and expenditure account) for the year ended 31 March 2021 Unrestricted Restricted Funds Fund$ Total Funds 2021 Total Fund$ 2020 Note Income from: Donaknons and kgacies Charitable aclivrt Other trading aclivibes Investments Other income 9.384 81.521 253,829 48 657 1.030 450 204.250 81.521 253.829 48 657 Total income 345.439 345,439 206,218 Expendlture on: Raising funds Charitable activities Governance costs 1248,1481 184.0231 12.0401 {248,148 {84.0231 (2,0401 1171.1931 172,411} 12.1001 . Total resources expended 1334.2111 {334.2111 1245.7041 Net income I lexpenditurel befor• tax Tax on surplus on trading activities 11.228 112 11.228 112 139.4861 13.7011 Net income l (expendir*) 11,340 11,340 143,1871 Totsl fiinds brought forward Total funds carrled forward 140.912 2,925 143,837 187.024 152.252 2,925 155,177 143.837 The charity has no recognised gains Of losses other Ihan the results for the year as set out ave. All of the activilies of the rhanty are classed as continuing. The charty has taken advantage of section 408 of the Cornpanies Act 2006 not io publish its own Statement of Financial Activities. The accounting poleS and notes on pages 13 to 25 form part of these financial ststements. Page 10
CHANGE AGENTS UK CHARITY Consolidated Statement of Financial Activities (incorporating the consolidated income and expenditure account for the year ended 31 March 2020 Unrestricted Restrictsd Funds Funds Total Funds 2020 Income from: Donations and legaCS Charitable acb"vrtie$ Other trading activitres Investrnents 1.030 450 204,250 488 1.030 450 204.250 Total income 206,218 206.218 Expenditure on: Raising funds Charitable activities Governance costs (171.1931 172.411) 12,100} 1171.1931 172.4111 12.1001 Total resources expended {245.704) 1245.7041 Net expenditure before tax Tax on syrplus on trading activrties 139.486) 13.701) 139.4861 13,7011 Net expenditsre 143.187) (43.1871 Tolal funds brought fonmaryl 184,099 2.925 187,024 Total funds carried foNard 140,912 2,925 143,837 Page11
CHANGE AGENTS UK CHARITY Group and charity balance sheets at 31 March 2021 Group 2021 Charity 2021 2020 2020 Note Fixed assets Intangible assets Tangib assets Investments 10 11 12 426 30.055 2.001 33.367 241 31,991 29.269 30.481 35.368 29,272 32,235 Current assets Debtors Cash at bank arKI in hand 13 9.128 209,7C6 218.834 10.845 165,865 176.710 7,232 112,534 119.766 772 84.283 85.055 Creditors: •mounts fallin9 due within one year 14 (93.9891 (67,980) 124.3201 (4.391 } Net current assets 124.845 108.730 95,446 80,664 Provisions for liabilities and charges (1491 1261} Net assets 155.177 143.837 124.718 112,899 Unrestrlcted funds General funds 15 152.252 140,912 121,793 109.974 Restricted funds 16 2.925 2.925 2.925 2,925 Total Funds 155.177 143.837 124.718 112.899 The Iruslees are satisfied that Ihe charity is entitled lo exemption from audit of the financial stslements fo( the year under Section 477 of the Companies Act 2006 Ithe A¢ll relating to small companies and that the members have not required the company to oblain an audil in accordance with seCn 476. The trustees aCknOwdge their resp$1b11rtles for. {1} ensuring that the charity keeps prcper accounting records which comply vith {ii} prepafing financial statements whh gwe a true and fair vtew of the state of affairs of the charity as at the end of the financial year and of its profrt or loss for the financial year in accordance with the requirements of section 396, and which othewse comply with the requirements of the Act relating lo financial st*emenls. so far as applicable to the charity. These financial statements have been prepared in accordance wth the provisions applicable to companies subject to the small CoMpans, regime and in accordance with FRS 102 The Financial Reporting Standards applicable in the UK and Republic of Ireland,. y the Board of Trustees on ..2.1. . and signed on ts behalf". Approve Trevor Gibson Company Registrallon Number. 05128833 Regisl¢rgd Charity Number. 1104230 The accounting wlicies and notes on pages 13 to 25 fonn part of these financral statements. Page 12
CHANGE AGENTS UK CHARITY Notes to the financial statements for the year ended 31 March 2021 1. A¢countln9 policies Charity Infomiation Change Agents UK Charity is a pitvale charttable company limited by guarantee and is incorporated in England and waS,. the registered office is thaled at Oakham Railway Stab'on, Station Approach. Oakham. Rutland, LE15 6QT. The company constitutes as a public benefit enb.ty as defined by FRS 102_ The principle activity dvaneing educatDn in sustainable development". fomially through providing lessons, seminars. onferences and lectures., and informalty through projects. work placements. volunteering and the assimilation of knowledge. practical leaming and doirig real work. Basi5 of preparation The financial stalemenls have been prepared in darKe wrth the Statement of Recommended Pracb"ce'. Accounknng and ReF<)rbng by Charitses preparing their accounts in accordan¢e with the Financial Reporting Standard aPpIab in the UK and Republ of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard appltsble to the UK and Republic of Ireland IFRS 102). the chariti.es Act 2011. the Companies Act 20C6 and UK Generally Accepted Accounting Practice. The Charity has tsken the available exempt under the Chanbes SORP {FRS 102} Update Bulletin 1, as a smaller charity, to not prepare a Statemenl of Cash Flows. The financ1 statements a prepared on a going concem basis under the historical cost cOnvenn, as mc4Jified to include certain rtems at fair value. The financ1 statements a pSented in Sterling {£1. ¥thh is deemed to be the functional currency of Ihe charity. Bos1$ of Consolidatlon These financial statements consolKlate the results of the Charity and ils wholly owned sUbsl2r*S,. Change Agents UK Trading Limited and Studentforce for Sustainability Limited. on a line by line basis. Studentforce for Sustainabilty Limited was domiant during the year. A separate Ststement of Financial Aclivity"es {incorFM)raling the Income and Expendityre Account) are not presented for the charty itself folk)wing the exemptsons afforded by section 408 of the Companies Act 2006 Fund accounting UnreStrted fvnds are availabk for use at the dIScreth of the Board of Trustee5 in fvrtherance of the general objects of the chanty. ReStrted funds are funds which are lo be used in accordance vmh specifK reslriclions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such fvnds are charged against the $ffic fund. Page 13
CHANGE AGENTS UK CHARITY Notes to the financial statements (continued) fr•r the year ended 31 March 2021 1. Aecounting policies {contlnued) Income recognition All incoming resources are included in the Statement of Financial A¢h"vil$ when Ihe ¢harity is entrtled lo the income Conditn5 and the amount can be probable. The following specific policies are aPpld to partiujlar categories of income.. Voluntary income received by way of donations and gifts is included in full in the Statemenl of Financh Acts¥eS when receivabk. Grants. where entiliement is not conditN)nal on delivery of a specific perfOanCe by the charity, are recognised when the ¢hanty becomes unconditsonally entrtled lo the grant. Revenue grants are carried forward to the extent th* the grantor specifies that the grant is for expenditure in futu accounting peri¢>Js. Grants carried fonvard in this way are accounted for as deferred income. Income from trading activities includes income eamed from fundraising events and trading activrties to raise fijnds for the charity. Income is received in exchange for Suppl"Thg goods and services in order lo raise funds and is recognised when entiuemenl has occurred. Investment income is accounted when receivable. Expenditure recognition Expenditure is recogni5ed on an accruals basis as a h'ability is incurred and includes irrec¢)verable VAT. Costs of generating lunds afe the costs incurred in atiracting voluntary income and trading activitie5 whi¢h raise funds. Charitable actIvrtS expenditure comprises those costs incurred by the charity in the delivery of its activitie$ and services for rts beneficiaries. It includes both costs that can be allocated directly lo such actsvilies and Ihose costs of an indirect nature necessary to support them. Governan costs include those Costs asscKiated wth meetsng the constibjtional and Statutory requirements of the chanty and include audit fees and costs linked to the strategic management of the charity. All costs.are allocated beeen the expenditure categories of the Statement of Financial Activiltes on a basis designed to refie¢l the use of the resource. Costs relatsng to a partular activity are allocated directty.. others are apportlled on a per project basis. The Company operated a defined Contribut pensw)n scheme for the benefit of the employees. The pension cost charged in the Statement of Financial Activities represents the amount of contributions payable to the s¢heme in respect of the a¢counting per. Financial Instruments The Charty only enters into basic financial instruments transactions that result in the recognition of financial assets and liabililies like trade and other accounts re1vable and payable, loans from banks and other third parties. loans to related partS and investrnents in ordinary shares. Taxation No provision has been made for corporation tax, as the company is of charitable status. A provision for corporath?n tax is necessary in the subsKliary undertakings on rts tsxable profits. Page 14
CHANGE AGENTS UK CHARITY Notes to the financial statements (continued) for th¢ year ended 31 March 2021 1. Accounting poliei•s (continued) Operating lease arrangements Operating lease rentals are chorged to the Statement of Financ[ Activities at current rates under lease agreements. Fixed Arets Major expenditure on tangib fixed assets is capital¢sed. Expendrture on fixed assets not exceeding £250 for each asset is wrrtten off in the year in it is incurred. Depre¢latn is [Koved on all tangibk assets at rates cakulated to write off the ¢ost. less estimated residual value. of each asset evenly over ils expected useful life on the follon9 bases.. Leasehokl improvements are wrthn off over Ihe 25 year lem of the lease. Office and computer equipment 33%, per annum, straight line, on Cost, ¢ommencing in the month following the month of purchase. Amortisation Amortisation is calculated to write down the cost. less eslimated SIdUal value, of all assets over their expected useful lives. The rates generalty apPIable are. Website development- Straight line over 3 ye*s 2. Charitsble •ctivili¢s Unrestricted Restricted 2021 Total 2020 Total Grants and contracts Cultural Recovery Fund for Heritage Poslcode local trust fund COVID-19 Grants CD - University of Gloucestershire 66.240 1,250 12.636 1.395 66,240 1.250 12.636 1.395 450 81.521 81.521 450 Opportunities lor vocational training Recruitment, Employment Services and Training Fee5 253,829 253.829 204,250 Total 335.350 335,350 204,700 Page15
CHANGE AGENTS UK CHARITY Notes to the financial statements (continued) for the year ended 31 March 2021 3. Resources expended Unrestricted Restrict 2021 2020 Cost of generating ChJrilabl* Govern. incom• activities ancè EVS Total Total Grants payable Skff Costs (note 6} Travel and Subsistence Postage. slatsonary and Recruitment Subscriptions Training Computer s0fhVa costs Marketing Miscellaneous Audit and accountancy Legal and professional fees Premises Support costs 957 296,972 209.302 1,115 443 1.285 2,159 1.622 3,266 219 818 5,600 4,205 5,110 9,603 225.928 71.044 141 99 2.222 141 99 2,332 260 3,369 110 260 24 3.345 511 3.410 2,455 3,409 6.628 469 980 5,450 7,137 7,364 10,107 2.040 4.682 3.955 3.479 Total resource expended 248.148 84.023 2,040 334,211 245,704 4. Net In¢ome l {expenditure) before tax Net income I (expenditure) before tax ts stsled after changing". 2021 2020 Deprecation Amortisalion Independent Examination fees 3,312 1,575 5.450 3.050 1,719 5,600 5. Net income from non4haritable trading activilies of the subsidiary The wholly owned Sljbsidiary, Change Agents UK Trnding Ltd. which is ineorporated in England and Wales (registered number 064821661. provides recruitment. training and devek)pmenl and employment services. The subsidiary pays 211 of rts profits lo the charity under a deed of covenant. The charity owns the ents.re share caprtal of 1 ordinary share of £1 each. The company was incorwrated on 24 January 2(X)8 and started trading on 1 Apn"12(#J8. A summary of the trading results is shown below. 2021 2020 Turnover and other operating income Cost of sales and adminiStratn expenses Inleresl receivable Gift aid donab.on paid TaxatK)n 253.829 210.000 {248.1461 1175,9431 (6.2741 115,000} 3,701 15.356 15,582 30.938 14791 30,938 30,459 Retained profits brought forward Retsined proffts carried forward Page 16
CHANGE AGENTS UK CHARITY Notes to the financial statements (continued) lor th¢ year ended 31 March 2021 5. Nèt iD¢ome from non4haritable trading activities of the subsidiary leontinued) 2021 2020 The assets and liabilities of the subsidiary wern: Fixed asset$ Current assets Current liabilities Provisions 1,211 3.136 105,342 91.655 175,9451 (63.5911 1149) {2611 30.459 30.939 The second wholty owned subsrdiary Studentforce for SuStaina"1Y Ltd. which is in¢orporaled in England and Wales (registered nUrnr 07767094}. remained dOmnI in the current year. Therefore, no rtems of income, expense, assets or liabilitse5 were included on consolidation of this enlity12019 - £Nill. The charity owns the entire share capital of 2 or(linary Sha of £1 each. 6. Staff costs and numbers 2021 2020 Salaries and wages Trading Subsidiary employment Chanty staff members 174.070 99.830 102.631 95,223 273.9)0 197,854 So¢i81 securty costs Tradin9 subsidiary employrnent Charity staff memters 13.932 2.949 6,106 1,337 16,881 7,443 Pension contributions Trading subsidiary employment Charity stsff members 3.318 2.873 1.691 2,314 6,191 4,005 Total 296,972 209.302 No employees received emoluments of more than £60.000 in the year {2020.' 01. The average number of employees during Ihe year by the group was 1412020.. 131. The average number of those who a employed on behalf of the charity was 612020.. 6). The average number of those who are emphjyed on behawof the trading company was 8{2020.'71 The key management personnel of the group comprise of the Chief Execubve Officer and the Finan¢e Officer whose empk)yee benefits total £43.499 (2020: £45.4431. Page 17
CHANGE AGENTS UK CHARITY Notes to the financial ststements (Continued) for the year ended 31 March 2021 7. Pension Costs The charity pattrcipates in a defined contribubon pension scheme administered externally. Membership of the scheme is available to employees satssfying qualfying cOnditnS. Payments made lo the fund are charged monthly in the financial statements. The pensK)n cost charge amounted to £2.87312020.' £2.3451. At the year end there was £nil in unpahl contn"butions12020." £nil}. The pension costs are alkxated tets¥een unrestred and restn"¢led reserves using the employees. me albcation when working on the various activities of the group. Any closing lbIlity would be attributed lo the unrestricted erVeS * the year end. 8. Tru81¢es' remuneration and rolated party transactions No memter of the Board of Trustees received any remuneration during the year. Travel costs amounting to £nil (2020.. £nil) We re4mbursed to members of the Board of Trustees. During the year donab.ons were received from related parties totalling £5.7SO (2020". £98). 9. Taxatlon As a chanty Change Agents UK Chanty is exempl from tax on income and gains falling within section 505 of the Taxes Act 1988 of section 256 of the Taxation of chargeab Gains Act 1992 to the exlenl that these are applied to its charilable objects. 10. Intanglble fixed assels Webslte Development Group Charity At 1 April 2020 At 31 Mar¢h 2021 5,157 5,157 867 867 Amortisation At l April 2020 Charge for the year At 31 March 2021 3.156 1.575 4.731 626 241 867 Net book values At 31 March 2021 426 At 31 March 2020 2.001 241 Page 18
CHANGE AGENTS UK CHARITY Notes to the financial statements (continued) for the year ended 31 March 2021 11. Tangibh fixed ossets Group Leasèhold Imprnvements Office and Computer Equipment Total Cost or valualion Al 1 April 2020 Addit*)ns 68.061 51,344 119,405 At 31 March 2021 68.061 51,344 119,405 Depreciatlon At 1 April 2020 Charge for the year At 31 March 2021 36.070 2,722 49.968 590 86.038 3,312 38.792 50,558 89,350 Net book values At 31 March 2021 29.269 30,055 At 31 March 2020 31.991 1,376 33,367 Charity Leasehold Improvements Office and Cofflputor Equipment Totsl Cost or valuation At 1 April 2020 68.C61 25.266 93,327 At 31 March 2021 68.C61 25.266 93,327 Deprnciation At 1 April 2020 Char9e ft>r the year At 31 March 2021 36,070 2.722 25.266 61,336 2,722 38.792 25,266 64,058 Net book value8 At 31 March 2021 29.269 29,269 At 31 March 2020 31.991 31,991 Page 19
CHANGE AGENTS UK CHARITY Notes to the financial statements Iconlinued) for the year ended 31 March 2021 12. Fixed Asset Investments Ch•rity 2021 2020 Unlisted Investments in subsidiary undertakings The ¢hanty owns the entire share capital of ordinary shares of £1 e¥h in StudentForce for Sustainability Ltd. which is incorporated in England and Wales. The company has bn domiant since its incorp)ralion The charity owns the entire Sha capital of one ordinary share of £1 in Change A9enls UK Tfading Limited, which is ineorporated In England and Wales. 13. Debtors Group Charty 2020 2021 2020 2021 Trade debtors Prepayments and accrued income Amounts oEd frorn group undertakings 5.632 3.496 7,959 2.886 295 1.238 5,699 772 9,128 10,845 7,232 772 14. Creditors: amounts fallin9 due within one year Group Charity 2021 2020 2021 2020 Trade ¢reditors Other taxation and sccial security Outstsnding pension commitments Accrua15 Deferred income Amounts due to group undertakirvJs 2.287 14,049 1,136 8,147 1,847 1,052 7.9)7 69.746 8.143 50,554 3.821 18,650 3,337 93,989 67,980 24,320 4,391 Deferred income comprises fees invoiced in advan¢e ir* Spe¢l of the provision of vo¢abonal training Isubsidiaryl and grant receivable (parent). The figures di5cbsed bekA¥ are all in respect of provision of services. Group Charity At 1 April 2020 Amount released to incoming resources Amount deferred in the year 50.554 (50,5541 69,746 18,650 At 31 March 2021 69.746 18,650 Page 20
CHANGE AGENTS UK CHARITY Notes to the financlal statements (continued) for the year ended 31 March 2021 15. Movement in unwestricted funds Group Trnnsfers At31 At 1 Awil bgtween Movement in resources March 2020 nds Incoming Outgoing 2021 General funds 140,912 34S.439 1334,0991 152,252 345,439 {334,099} 152.252 Total unrestricted funds 140.912 Charity Trnnsfers A131 At l April belween Movernent Sn resources March 2020 funds Incoming Outgoing 2021 General funds 109.974 126,218 {114,3991 121,793 126,218 (114.3991 121,793 Total unfestricted funds 109.974 Purpose of unresiricted lund8 General fvnd5 represent the balance of unrestitted funds that may be used for revenue or capital expenditure without having recoutse io exiem*ty imposed restrictions. 16. Movement in restricted fund5 Chaiity Transfors At31 At 1 April between Movement In resour¢es March 2020 funds Incoming Outgoing 2021 EnenJy Projects EVS 2.925 2.925 Total restricted funds 2.925 2,925 Purpos¢ of restri¢ted fvnds European Voluntary Service {EVSI Wrth funding from Erasmus + programme, Change Agents UK has been devek)ping and managing fully funded volunteering placements for recent graduates across Europe for the past few years. Change Agents UK has now discontinued its EVS work. Page21
CHANGE AGENTS UK CHARITY Notes to the financial slatements (continued) for the year ended 31 Mar¢h 2021 17. Analysis of net assets between funds Group 2021 General Designated Restricted Funds Funds Funds Total Funds Tangible fixed assets Intangible fixed assets Current assets Current liabilities Provisions for Ikabilities and charges 30.055 426 215.909 {93.989} {1491 152.252 30,055 426 2.925 218,834 193,9891 1149} 2.925 155,177 Charty 2021 General Designated Restrlcted Funds Funds Funds Total Funds TangikJe fixed assets Fixed asset investments Currents assets Current liabilitS 29,269 29,269 116.841 {24.3201 2.925 119.766 124.3201 121,793 2.925 124,718 18. Capital Commitinents There were no caprtal commitments authorised and contracted for at 31 March 2021 or 31 March 2020. 19. Contingent Liabilities There were no contingent liabilib.es at 31 March 2021 or 31 March 2020. 20. Constitution The charilable company is limited by guarantee th no share Caprtal. There were 5 members at 31 March 2021 (2020. 6). 21. Rolated party tran$aclion8 The Charity has taken advantage of the exempl in Financ1 Reporting Standard 102 Section 33.1A from the requirement to disclose transactions with group companies on the grounds that they are wholty owned subsKlraries. During the year, the related parties donated £5750 (2020- £98) to the charity in aggregate. There were no other related paty transactions during this year. 22. Controlling Party The charity is controlled by the Board of Trustees and no le trustee has or exerts overall control. Page 22
CHANGE AGENTS UK CHARITY Notes to the financial statements (Continued) for the yoar ended 31 March 2021 Pages 24 to 25 also fomi part of these financial statements and show the 2020 financial slatem8nts comparatwe figures. Page 23
CHANGE AGENTS UK CHARITY Notes to the financial statements (continued) for the year ended 31 Illarch 2021 23. Fund Comparatives Charitable activities 2020 rotal Unrestricted Restricted Opportunitles for vocational training Recruitment, Employment Sernces and Tr8ining Fees 204.250 204.250 Total 204.250 204,250 Resources expended Restricted 202Q Cost of gMeratsn9 Charitable in¢t)me activities Gtsvern•nee EVS rotal Grants Payable staff costs Travel and subsistenre Postage. stationary andphone Re¢ruitment publ91$ and subscnptions Training Computer costs Marketing Miscellaneous Audrt and a¢count8n¢y Legal fees Premises Support costs Total resource expendod 957 61. 182 968 957 209,302 1,115 443 1.285 2, 159 1,622 3,266 219 818 5, 600 4.205 5,110 9,603 148. 120 147 443 1.216 1.993 1.466 3,033 219 703 69 166 156 233 775 2, 100 2. 708 4.863 2. 782 1.497 247 6.821 171. 193 72.411 2. 100 245, 704 Movement in unresth¢ted funds Group Transfers At31 At 1 April between Movement In resources March 2019 funds Incoming OutyoiTrg 2020 G•neral funds 784,099 184,099 206.218 (249,405) 140,912 249,405 206,218 140,912 Total unrestiicted funds Charity Transfers At31 At 1 Aprm between Movement in resources March 2019 funds Incoming Outgoing 2020 General lunds 168.518 168.518 55. 790 (114,334) 109,974 55, 790 (114,334 109,974 Totsl unrestrl¢ted funds Page 24
CHANGE AGENTS UK CHARITY Notes to the financial ststements (continued) for the year ended 31 March 2021 23. Fund Comparativ•s (contlnu Movemènt in restricted funds Charity Transf• At31 Al 1 April between Mov¢rnent in resources March 2019 funds Incoming Outgoing 2020 . Energy Pmjeets EVS 2.925 2.925 2,925 2.925 Total restncted funds Analysis of net assets behveen fun(ts Group General Designated Rèstricted Funds Funds Fund rotai Funds Tangible fixed assets Intangible fixed assets Current assets Gurrenl liabilities Provisths forliabilities and charg8S 33.367 33.367 2,007 176, 710 (67.980J f261) 173.785 f6T.980) (261) 140,912 2.925 2,925 143.837 Charlty General Deslgnated Restrlcted Funds Funds Funds Total Funds rangible fixed assets Intangible fixed assets Fixed ae[ investments Currents assets Curftnf liabilit$ 31.991 241 31,991 241 82. 130 (4.391) 2,925 85,055 (4,39t) 109,974 2,925 112,899 Page 25