ULI Charitable Trust Report and Unaudlted Financial Statements Year ended 30 June 2023 (Reglstered Charlty No 1113416)
ULI Charltable TNst (Reglstered Ch8rlty No 1113416) Report and A¢¢ounts 30 June-2023" Legal and Administrative Details Report ol the Trustegs Independent Examingrs Report Statement ol Financial Activities Balance Sheet Notes lo the Accounts 8-13
ULI Charltable Trust (Reglstered Charlty No 1113416) Page 1 Legal and Admlnlstratlve Deta118 Year ended 30 June 2023 Details of the Trustees and Advisors who served during the year are as follows: Trustees: C Schede (Chairman} (Appointèd 1 July 2022) S Malkin J Zehnei M Barclay P Bandeira Vi8ira (Appointed 1 July 20221 L Huber (Appointed 1 July 20221 A Kleln IAppoinl6d 1 July 2022) V Stulls {Appoinled 1 July 20221 F Tfausch (Appointed 1 July 20221 W Hughes (Appointed 1 November 2022) Bankers: Lloyds Bank Plc. 39 Piccadilty London WIVOAA JPMorgan Chasg 26 Bank Street Canary Wharf London E14 5JP Indepgndent Examlner. K Gallagher FCA RSM UK Tax and Accounting Limited Chartered Accounlanls Davidson House Forbury Square Reading Berkshire RG13EU Address of Charlty: 35 New Broad Street London EC2M 1NH
ULI Charftable Trust (Registered Charlty No 1113416) Page 2 Report of the Trustees Year ended 30 June 2023 Thè TrLtslees present their report lor tho ygar ended 30 June 2023. Structure, governance and management The Trust is registered as a Charity Iregislered number 11134161 regisleied in England and Wales and is constituted under a trust deed adopted 21 April 2005. The Charity commenced activity on 1 July 2006. The Charity is managed by the Trustees who are eleded by the current Trustees as per the Trust Deed. The ChaTty has a plan in place lo identify and train new Trustees as and when they become aware of individuals with an interest in the Charity's activities, or where it is perceived that a Trustee with an addib'onal skill sel, lo those held by the current Trustees, is requirèd. ObjeGtives and actlvltles The objeGtives ol the Charf(y are to advance the education of the public anywhere in the world by promoting study, reSeah and leaching in the policy, principles and practice ol land use and development and urban planning and design so as to enhance the environment provided that the useful results ol any such research is disseminated to the public and to promote the high standards ol perfomance and inter professional IPeratIOn in these fields. The Charity is indèpendent of, bul associated with, Urban Land Institute (ULII, a U.S. domiciled tax-exempl, nol-for-prolit organizalion whose mission is to provide leadership in the responsible use ol land and in creating and sustaining thriving communities worldwide. The Charity generally supplements funding lor ULI programmes and in4tialives as the Trustees determine. W9 have referred to the guidance contained in the Charity Commigsion's general guidance on public benefit when reviewing our aims and objectives and in planning our lulure activities. In particular, the Trustees consider how planned aclwilies will contribute lo the aims and objectives they have set. Achievements and performance The Charity remains committed lo support the ULI mission- To Sha the future ol the built environment lor translormalive impact in communities worldwide. In FY23, we contlnued to develop the programme with a full year delivery of UrbanPlan worf<shops in UK, Gernianytr and Netherlands and a pilot in Fran. Thls resulted in seeing more donations 1Ved to 5UPPOrt UrfoanPlan's delivery in UK, Germany, and France. UrbanPlan UK is the Uiban Land Inslitute's urban regenerati¢)n educational initiative bringing lo lile the urban environment lor 15-18-year-old students in slate schools.11 involves a real-lile workshop where student teams lorm a development company tasked to creale a scheme that regenerates a hypothetical urban sile. As well as learning about the bulll environment, il also helps young people develop vital employability skills such as teamwork, presentatlons. and time management. The programme is delivered by a team ol ULI facililalors & property industry volunteers and is a powerful tool to reach out to a divei8e demographic artd lo show how roal eslale can revlve and regenerate urban areas. In the UK in FY23, between Autumn through to July, 50 workshops across the United Kingdom. In Gerrnany we updated the programme, which was ouldaled, and successfully delivered 10 workshops. In France, we delivered a pilot to ESSEC in October 2023. This has sel us up lor the planned delsvery 0110 workshops in FY24. All workshops were delivered in person. In FY23, the Charity granted £50,000 to ULI lo supplement sponsorships In support of the UrbanPlan piogramme in the UK. In add(iion. the Charity granted £25,000 and £10.000 lo support the UrbanPlan piogrammes in France and Germany, respectively. UrbanPlan has been running suecesslully in Europe since il was launched in the UK in 2015.11 is now delivered in Germany, The Netherlands, Republic ol Ireland and the UK, and has now su¢¢essfully launched in France.. During that lime ULI has run 380+ worksh¢)ps. reached more than 8,500 students ar7d worked with over 1000 industry professionals. We have SucsSIu11Y targeted schools across the UK with a high percentage ol free school meals which has allowed us lo reach a very diverse dernographi¢. Feedba¢k has been consistently excellent from students, teachers. and volunteers alike and student's understanding of and interest in the
ULI Charltable Trust {Reglstered Chaiity No 1113416) Page 3 Report of the Trustees Year ended 30 June 2023 sector increases significanlly aftei the programme has taken place. For inslancg, alter the recent Spring and Summer tour in the UK. 100% of students rated their UrbanPlan experience as either Good or Excellent, and 8/• of sludents agreed that UrbanPlan had helped them to develop their key employability skills. After the workshop 890/0 of students sald they would now consider a career in propgrty. compared lo 350A b8fore tho workshop. Flnanclal Revlew The results lor the year are sel out in the Statement of Financial Activities on page 6 and tho BalanGe Shggt on page 7. The notès on pages 8 to 13 loim part ol these Financial Statements. Reserves Policy It is the policy ol the Charity lo maintain separatg reserve lunds lor 8ClI1¢ purposes. Unieslricled funds are maintained al a level lo ensuie that the Charity has enough funds available in order that il can pursue its objectives. During the y¢ar the Trustees agreed to maintain unrgstricled reserves lo the greater til ono year ol operating expenses or £10,000 in the Charity. Unreslricled funds outside of this will be recommended for allocalion lo programs where the greatest impact can bg achioved. As al 30 June 2023 unrpstricted reserves were £28,472 (2022.. £12,700) and restricted roserves were £65,12712022.. £97,799). Risk management The Trustoes have examined the maior strategic, business and operalicfflal risks which tho Charty faces and nfIrM that systems have been established lo gnable regular reports lo b¢ produGed so that the necessary steps can be tsken to lessen these risks. Trustees The Trusl99s who held ollice during the yaar aré sel out on page 1. Trustees, Rosponsibllltles The Trustees are responsible for preparing the Trustees, Annual Report and the financial stateménts In accordance with applicable law and United Kingdom AccoLtnling Standards (United Klngdom Genèrally Accepted Accounting Practice). The law applicable lo chari118s in England and Wales requires thg Trustees lo prepare financlal slalements lor each financial year which give a true and fail view ol the slate ol affairs of the Charity and ol the incoming resources and application of resources of the Charity lor that peiiod. In proparing these Ihancial slalements. the Trustees are required to: select suitable accounting policies and then apply thern consislenily,. obseNe the methods and principles in the applicable Charilie5 SORP. make judgements and estimates that are reasonable and prudent: stale whether applicable accounting standards have been followed. subjèct to any material departures that musl be disclosed and gxplained in the financial slalements., prepare the financial statements on the going ¢(cern basls unless it is inappropriate to presume that the Charity will continue in business.
ULI Charltable Trust (Registered Charity No 1113416) Page 4 Report of the Trustees Year ended 30 June 2023 The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al eny time the financial position of the Charity and lo enable them lo ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions ol the Trusl Deed. They are also responsible lor safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection ol fraud and other irregularities. Independent Examlner The Trustees have appointed Mr Kerry Gallager FCA ol RSM UK Tax and Accounting Limited as Independent Examiner ol this Trust. Signed on behalf ol the Trustees C Sohede
ULI Charltable Trust (Reglstered Charty No 1113416) Page 5 Independent Examlners report to the Trustees of ULI Charltable Trust Year ended 30 June 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ULI CHARITABLE TRUST I report lo the Trustees on my examination of Ihe financial statements of ULI Charitable Trust Ilhe Charity,) for the year ended 30 June 2023, which are set out on pages 6 to 13. ResponslbSlltle$ and basls of report As the Trustees of the Charity you are responsible for the preparation ofthe financial slalements in accordancp with the requir¢menls ol the Charities Act 2011 { the 2011 ACV). I report in respect ol my examination ol the Charity's financial statements carried out under section 145 of Ihg 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145151(bl ol the 2011 Act. An independent examinatlon does not involve gathering all the evidence that would be required in an audit and consequently does not ¢over all the matters that an auditor considers in giving their opinion on the a¢¢ounls. The planning and conduct ol an aLtdil goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as lo whether the accounts present a 'lrue and fair view, and my report is limited lo those speclfic matters sel out in the independ¢nl examinels statement. Independent examlner's stalement I have completed my examination. I confirm that no material matters have come to my att&nlion in connection with the examination giving me feasonable cause to bèlieve that in any material respgct.. accounting records were not kept in respect ol the Charty as required by sectit)n 130 of the 2011 Act. or 2. the financial slalemonts do nol accord with those records., or 3. the financial statements do not comply with the applicable requirements conceming the form and ¢onlent ol accoL*nls sel OLrt in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that th8 accounts give a 'lrLse and fair view, whiGh is not a matter considered as part of an indopendenl examinalion. I have no Concerns and havo come aGross no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Signed.. Narnp.. Kgrry Gallagher FCA Name ol applicable lisl&d body.. The Institute of Chartered Accountants in England and Wales Relevant Professional qualification or membership ol Professional body= Chartered Accountsnl ON BEHALF OF RSM UKTAX AND ACCOUNTING LIMITED Chartgred Accountants Davidson House The Forbury Reading RG1 3EU Dalg-
ULI Charltable Trust (Reglstered Charlty No 1113416) Page 6 Statement of Flnan¢lal Actlvltle8 Year ended 30 June 2023 Note Unrestrlcted Fund$ 2023 Restrlcted Funds 2023 Totsl 2023 Total 2022 Income: Donations 17,835 59,257 77,092 26.250 Total income 17,835 59.257 77,092 26,250 Expendlture: Charitable activities 18,992) (85,0001 193,9921 158,0631 Total expenditure 18,992) (85,000) 193,9921 158,063) Net (ex endltureyincome and ne movement in funds for the year belore transfers 8,843 125,743) 116.9)0) 131,8131 Transfers between funds 6,929 (6,929) Net {expendltureylncome and net movement In funds for the year after transfers 15,772 132,672) (16.900) Reconciliation of tunds Total funds brought forward 12,700 97,799 110,499 142,312 Total funds carrled forward 28,472 65,127 93,599 110,499 Th¢ notes on pages 8 to 13 form part of these financial statements. These unauditod financial statements have been subjocted lo an independent examination. See report on page S.
ULI Charitable Trust (Registered Charity No 1113416) Page 7 Balance Sheet as at 30 June 2023 Note Unrestri¢ted Fund8 2023 Restrlcted Funds 2023 Totsl 2023 Totsl 2022 Current Assets Cash at bank and in hand 123.842 65,127 188,969 268,409 123,842 65.127 188,969 268,409 Current Llabllltles Creditors due within one year 95,370 95,370 157,910 Net As8e18 28,472 65,127 93,599 110,499 Funds Fundg 28.472 65.127 93,599 110,499 28,472 65,127 93.599 110,499 These financlal statements were approved by the Trusle8s on and signed their behalf by-. C Schede The notes on pages 8 to 13 form part ol these linanGial statements. These unaudiled finanoal statempnts have been subjected lo an independent examination. See report on page 5.
ULI Charltable Trust {Reglstered Charity No 1113416) Page 8 Notes to the Accounts Year ended 30 June 2023 Comparative SOFA Note Unrestricted Funds 2022 Restrlcted Fund$ 2022 Total 2022 Income: Donations 26,250 26.250 Total income 26,250 26,250 Expenditure: Charitable activities (8,0631 {50.0001 (58,063) Total expenditure {8,0631 (50,000) (58,063) Net expendlture and net movement in lunds for the year {8,0631 123,750) 131,8131 Reconclllatlon of funds Total funds br¢)ught forward 20,763 121,549 142,312 Total funds carrled forward 12,700 97,799 110,499 These unaudited financial statements have been subjected to an independent examination. See report on page 5.
ULI Charltable Trnst {Registered Charlty No 1113416) Pag¢ 9 Notes to the Ac¢ounts Yearended 30 June 2023 General Inlormatlon The ULI Charitable Trust Is a Charity registered with the Charty Commission in England and Wales. The address of the Charity is 35 New Broad Street, London. EC2M 1 NH. A¢countlng policle8: Bas18 of accountlng The financial statements have beers prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing thgir accounts in accoidance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFAS 102} and the Financial Accounting Standard applicable in the United Kingdom and Republic ot Ireland IFRS 102) and Charities Act 2011. The linancial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required io provide a true and fair view. This departure has involved following the Statement of Recommended Practice lor charities applying FRS 102 rather than the version of the Statement ol Recommended Practice which is referred to in the Regulations, bul which has since beèn wllhdr8wn. The Ilnancial statements are presented in sterling which is the lunctional currency of the Charity- Monetary amounts in these financial statements are rounded to Ihg nearest £. The ULI Charitable Trust meets the definition ol a public benefit entity under FFIS 102. Assets and liabilities are initially Tecognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. Golng Concern The Trustees have a reasonable expeclation that the Charty has adequate resouices lo continue in operatlonal existence for at least 12 months from the date ol approval ol the financial slalemenls. Thus, they continue to adopt the going concem basis of accounting in preparing the annual financial statements. Fund accountlng General funds are unrestricted tunds which are available for L¢se at the discretion of the Trustees in furtherance of the general objerAives of the Charity and which have not been designated for other purposes. Reslricled funds are lunds whlch are lo be used in accordance with specific restrictions Imposed by donors oi which have been raised by the Charity lor particular purposes. The cost ol raising and administering such funds are charged against the specific fund. The aim and use ol each rèslricled fund is sel out in the notes to the financial slaternents. Income All incoming resources are included in the Statement of Financial Activities when the Charity is legally &nlitled lo the income and the amount be quanlified with reasonable accuracy. These unaudited linanu8l$tatements have been subjeGled to an independent examination. See report on page 5.
ULI Charltable Trust (Reglslerod Charlty No 1113416> Page10 Notes to the Accounts Year ended 30 June 2023 Accounting pollcles (contlnuedl Donations Oonalions received lor the general purpose ol the Charity are credited to unrestricted funds. Donations subj9cI lo specific wishes of the donors are credited lo relevant restricted funds. Expenditure All expendilurg is accoLrnted lor on an accruals basis and has been classrfiÈd under headings that aggregate all costs related to the category. Where costs eannot be dlreclly attributed to particular headings, they have been allocated lo aclivrties on a basis eonsislent wbth use of the resources. Management and adminislralion costs are those incurred in connedion with the adminlstrallon of the Charity and compliance with constitutional and slalulory requirements. Taxation ULI Charitable Trust is registered as a Charity wf(h the Charity Commission and under the provisions ol Section 478, Corporation Tax Act 2010 is exempt from liability lo taxation. Cash and cash equivalents Cash and cash equivalents are basic financial instruments and include deposits held at call with banks. Flnancial instruments The Charity only has financial assets and financial liabilities ol a kind Ih2t quallfy as baslc flnancial instruments. Basic financial instruments are initially recognised at Iransaction value and subsequently measured al their selllement value. DebtOTS Trade and other debtors which are receivable within one year are initially Tecognised al the transaction price and subsequently measured al amortised cost, being the transaction price less any amounts settled and any impairment losses. Creditors and liabilities Creditors payable within one year are initially measured al the transaction price and subsequently measured at amortised cost. being the transaction price less any amounts settled. Liabilities are recognised as S¢)on as there is a legal or constructive Obligati committlng the Charlly lo pay out resources. Critical accounting estlmates and areas of ludgement Eslimales and judgements are continually evaluated and are based on historical experience and other laclors, including expectations of future events lttal are believed to be reasonable under the circumslancgs. The Trustees consider there ale no such Grilical aGcounting eslimales or areas of judgement lo report. These unaudited financial statements have been subjected to an independent examination. See report on page 5.
ULI Charltable Trust {Reglstered Charlty No 1113416) Page11 Notes to the Accounts Year ended 30 June 2023 Donatlons The Charity gratefully acknowledges the effort given by the lollowing during the course ol the year: 2023 2022 CAF Amerlcan Donor Fund - Van Slulls CAF American Donor Fund - Malkin Black Heart Foundation Tristan Ca ital Partnars Francois rauche K. Pitkin Laure Tubiana Peter Freeman 25,000 1,250 5.000 15,000 1,250 5,000 5,000 24,063 1.600 1,344 Total reslrided donations Other- unreslricled donations Chiistian Schede Stuart Grant Marc Mogull 59,257 26,250 16,371 964 500 Total donations 77,092 26.250 Charltable actlvltles 2023 2022 Expenditure on proje¢ls'. UK UrbanPlan UrbanPlan France UrbanPlan Germany 50,000 25,000 10,000 50.000 Govemance and admlnlstratlve costs: Bank charge and pi¢xÈssing fees 24 24 Insurance 1,436 1,637 Independent examination fee 7,032 6,402 TGE Sol Up Fee 500 93.992 58,063 The Charity has employed no staff during the ¢urrent or prior yeaf. Thesg unaudit8d finanal statements have been subjected to an independent 8X8min8tion. See report on page 5.
ULI Charltable Tru8t (Reglstered Charlty No 1113416) Page 12 Notes to the A¢¢ounts Year ended 30 June 2023 Trustees, remuneratlon No Trustee has received any remuneiation and no expenses have been reimbursed to the Trustees during the period. Credltor8 Due Wlthln One Year 2023 2022 Amount due lo Urban Land Inslitule 88,338 151,508 Independent examiners l¢e 7,032 6,402 95,370 157,910 ststement of Funds Balance 30106122 Incoming resources Balance 30106123 Expendlture Transfer Restri¢led funds 97,799 59,257 185,0001 16,9291 65,127 Unrgslricled funds 110,499 77,092 193,992) 93.599 ststement of Funds- previous year: Balance 30106121 Incomlng resources Balance 30106122 Expenditure Restricted funds 121,549 26,250 50,000 97.799 Unreslyicled funds 20,763 8,063 12,7C(J 142,312 26.250 58,063 110,499 These unaudited financial statements have been sutye¢led to an independent examination. See report on page 5.
ULI Charltable Trust {Reglstered Charlty No 1113416) Page 13 Notes lo the Accounts Year ended 30 June 2023 Statement ol funds {contlnued) Detalls of restrlcted lunds 2023 2022 ULI Robert C Larson Leadership Initiative 6,929 UrbanPlan Europe 36,381 35,974 UtbanPlan UK 28,746 54,896 65.127 97,799 Purp08es of fvnd8 ULI Robert C. Lar80n Leadershlp Inltialive The ULI Flobert C. Larson Leadership Initiative puts Into action the vision lo enhance the leadership capabilities ol ULI members, staff, and others to beller fLtllil the Instilule's mission. Having undertaken enquiries as lo the origin and purpose of the funds the Trustees are satisfied that there is no ongoing restriction on the remaining funds and have transferred the balance lo unreslricled funds. UtbanPl8n Europe The funds are to be Ltged lo help with the deployment ot the ULI UrbanPlan programme to schools in Europe outside the UK. UrbanPlan UK The funds are to be used to hélp with the deployment ol the ULI UthnPlan programme lo schools in the UK. Unrestrlcted fund8 General unrestricted lunds which represent unreslricled income which is exwndable al the discretion ol Ihe Trustees in the furtherance of the objects of the Charity. Related Party Transactlons During the year ended 30 June 2023, the following costs were incurred which were payable lo the Urban Land Institute.. Total transaction costs included within expenditure of £93,33812022.' £57,457). The expenditure conslsts ol expenditures on projects £85,00012022.' £50.000) and adminislralive costs £8,33812022.' £7.457). As al 30 June 2023. £88.33812022'. £151,508) was due to the Urban Land Inslilute. The amount due to ULI is nel of £5.000 in donations to the Trust that were received in ULI'S GBP account. L Huber and F Trausch are on the Board of Trustees of both the Urban Land Instrtutg and ULI Charitable Trust. Uyban Land Institute Is Considered a related party of ULI Charitable Trust by way ol common Trusteeship. These unaudited financlal statements have been subjected to an independent ex8min21ion. Sea report on page 5.