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2022-12-31-accounts

A company limited by guarantee registered in England and Wales No. 05970606 , Charity No. 1116973

report of the trustees and statements for the year ended 2022

president. Following the changes 2021 brought, 2022 saw another very challenging year for many in our community.

to a cost-of-living crisis that has touched all corners of society.

And with the prospect of economic challenges and uncertainty crisis has impacted the accounting community – those who might never

During 2022 we saw increasing numbers of people from the profession caba. While this highlights the scale of the challenge, we hope this shows that the stigma of asking for help is breaking down further, which can only be a good thing.

I’m proud to see how we’ve supported the community over the past year, and the impact it’s had. A key highlight has been the launch of our award-winning, cost-of-living campaign. This saw us developing new services to help support with the cost-of-living crisis, such as larger energy fuel payments and back-to-school donations.

Another milestone has been the launch of our new brand and website, ensuring caba remains relevant, accessible, and appealing for our audience.

A key project in 2023 will be the addition of ‘my caba’, our website logged-in area, which will enable self-directed support, tailored to the needs of individual users.

partner organisations who work so hard to support the ICAEW community. Together, we’ll ensure that our community have the right level of support or advice so that they can manage whatever’s in front of them and can thrive.

I’m looking forward to supporting caba and our community as president over the next 12 months – thank you to Kaaeed Mamujee for passing the baton.

president, caba

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2022 brought respite from the worst impact of the pandemic, but Russia’s invasion of Ukraine, focused our minds on further pressures which have caused some members extreme

caba has continued, as it has for the last 130 years or so, to provide much needed support for members and students, help. For instance, the cost-of-living crises meant that some students struggled with the cost of technology needed to study and take their exams. Other members may even have found the cost of heating their houses prohibitive. caba has been able to tailor support to individual situations, whilst continuing with wider based online support.

Whilst tackling the cost-of-living crisis, we are also still trying to adjust to a post-pandemic more digital world. caba’s support will undoubtedly be needed here too. With continued healthy funding and a committed and passionate workforce, caba retains an ability to provide comprehensive and tailored support of exceptional quality, to those who need it most.

I’d like to thank everyone at caba for the tremendous work that they continue to do, supporting those working in and for our profession. I wish them every success for 2023.

patron, caba

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reference and administrative information 5 about caba 6 caba’s impact in 2022 7 looking ahead: 2023 priorities 10 11 structure, governance & management 16 trustees’ responsibilities statement 19 audit report 20 24 27

Merrett House Swift Park Old Leicester Road Rugby Warwickshire CV21 1DZ

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patron

The president of the Institute of Chartered Accountants in England and Wales (ICAEW)

Deputy President of ICAEW Vice-President of ICAEW

trustees

Trustees have all served for the

unless otherwise stated.

President from 16/09/22 Kaaeed Mamujee President until 15/09/22 Vice President Support services (chair from 02/03/22) Mary Hardy Resigned 15/09/22 Audit and risk (chair until 04/05/22) Resigned 31/07/22 Audit and risk Investment Resigned 01/03/22 Support services (chair until 01/03/22) Investment (chair) Audit and risk Support services Audit and risk Audit and risk (chair from 05/05/22) Appointed 23/05/22 Appointed 23/05/22

Support Services (Resigned 17/09/22) Investment Investment Investment Audit and Risk Audit and Risk

Merrett House Swift Park Old Leicester Road Rugby Warwickshire CV21 1DZ

Chief Executive and Company Secretary

Chief Operating

Head of Finance and Operations

Head of Experience and Engagement

Head of insight and impact

Head of people and culture

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As an occupational charity, we help the ICAEW community thrive by equipping individuals everyday situations to exceptional life-changing circumstances. Our vision is that everyone in the ICAEW community can fully participate in life.

The charity, Chartered Accountants’ Benevolent Association (caba) is here to support you if you are an ACA student, an existing or former ICAEW member or a close family dependent, whether it’s the everyday or the exceptional, expected or out of the blue, we’re there.

Our support is focused around – , , , and .

caba is a registered charity ( number 1116973 ) and our objects are:

the relief of poverty and sickness and the preservation of good health

such other purposes as are charitable under the laws of England and

caba was established in 1886, incorporated in 2006, and is a company limited by guarantee.

past and present ICAEW members ACA students

past and present ICAEW employees past and present caba employees dependents (close family members) of all of the above, who we describe as spouses/partners, widows/widowers, children up to the age of 25 and carers.

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6,297
direct support
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Individuals continue to come to us for a variety of reasons, in 2022 our support team dealt with 2,586 enquiries (2021 : 2,934 enquiries).

We provided enhanced assistance to our community through direct support and online selfservice. During 2022 direct support was accessed 6,297 times and self-service support 47,410 times.

The ongoing economic crisis has impacted our community like everyone else, and we saw increasing numbers of people seeking mental health support, legal

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47,410
self-service
support access
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implement our new person-centred support framework

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gain a view of what good health in the profession looks like through the theory of change

we developed and launched a which streamlined user journeys including the ‘my caba’ portal which will launch in 2023

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we conducted an

which we have used to begin to develop an EDI

we achieved the

we conducted an

we began to develop our

develop and deliver our EDI strategy

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and beyond

you will experience , , and and guidance from caba designed to help you fully participate in life.

we will do what we do well

we will ensure our services meet the most important needs

within the profession, taking a stand on what

matters most to our community and advocating for change.

we will understand the people and profession we support we will campaign for good health across the profession and push for changes we will deliver upon our brand promise

you can expect us to , connecting with communities across the profession, and putting you in control of the relationships you have with us

we will be and

we will communicate in a meaningful and purposeful way

you can expect us to be a , charity, that strives to use its resources to create the most impact.

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Total income for 2021 was £4.7m . This was £900k than in 2021.

Investment income rose to £4.0m for 2022 £300k than 2021. For further information on the total return of our investment portfolio please see the investment policy and performance section of this report.

£4.7m total income

£4.0m

investment income

We also saw an increase in voluntary income, during 2022 we were grateful to receive in donations and legacies from individuals, organisations and charitable trusts (2021 : £115k).

Total expenditure was £5.1m , 14% than in 2021 (£5.9m). Direct aid made up £2.9m of this (2021 : £3m).

donations and bequests

£5.1m

total expediture

Following the trend we have seen in recent years expenditure on fell to £0.9m (2021 : £1.1m).

£2.9m

rise in our energy fuel payments totalling £103k to 229 individuals up from £50k to 164 individuals in 2021.

direct aid expediture

Expenditure for our services more than doubled to £321k (2021 : £160k) the rise follows on from 2021 where we began to see a rise in demand for these services.

Support costs fell to £2.2m (2021 : £2.8m), in line with expectations as 2021 included costs incurred for our rebrand.

A major organisational focus during 2022 was the implementation of a new CRM and web portal which will allow us to provide person-centric, contemporary, and accessible support for our community while enabling us to gain insight ensuring we remain relevant and can improve and respond to our communities’ expectations. Total costs for this project were £348k.

£2.2m

support costs

£133m (2021 : £145m)

Continuing to face challenging market conditions we have agreed a sale, however the sale was not completed at the balance sheet date.

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and grant making activities of caba. Over the long term, this means providing a stream of relatively predictable and stable funding in support of annual budgetary needs, and at least expenses and spending.

To achieve this, an annual distribution has been set at 4% based on the average value of the portfolio over the previous twenty quarters as at the end of June each year.

The long-term target is to achieve an average annual total return that exceeds CPI by 4%, net of the cost of investment management. The trustees recognise this is a long-term target and can only be fully assessed over the course of a business cycle which may be 10 years or more. However, the actual returns are monitored as part of the ongoing review process in the shorter term.

charity portfolios.

Over 2022 as whole, returns were
negative 6.7% in absolute terms		 caba portfolio caba portfolio 1 year
(6.7)		 5.4
6.6
due to the setback in equity, bond ARC steady growth index (9.5) 1.7
3.0
and property markets. CPI + 4% 9.1 7.8
7.0

The trustees recognise that the management of investments requires appropriate expertise. The Investment Committee terms of reference state that at least two Stanhope Consulting to provide advice on strategic asset allocation, manager selection, monitoring and consolidated reporting.

A reasonable level of capital volatility within the investment portfolio is considered by the trustees to be acceptable given the investment portfolio’s long-term time horizon and real return objectives.

Despite the challenging market conditions experienced during 2022 the trustees are

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caba holds reserves to ensure it can meet the needs of future generations and to fund operational expenditure by generating an income to cover expenditure.

A large proportion of the reserves (£131m at 31 December 2022) are investments held to generate income and secure the long-term funding of the charity.

These reserves currently represent caba’s principal source of funds for annual expenditure. Investing them in this way, rather than liquidating the reserves for short-term spending, is intended of the portfolio is to provide funds for the ongoing operations and grant making activities of caba.

with those of future generations.

To avoid the need to realise investments at inopportune times, a minimum of one year’s worth of our forecast expenditure less expected investment income is to be held in the form of cash deposits or UK government bonds.

The reserves policy is reviewed regularly by the trustees when considering strategic change. These reviews include consideration of whether the current policy of seeking a sustainable income stream trustees should instead reduce the expected level of future investment income in favour of shorter-term spending from capital.

The trustees have approved an annual spending policy based on a distribution from the investment portfolio. To avoid disparities in annual expenditure, the annual distribution rate will be set at 4% and based on the average value of the portfolio over the previous 20 quarters.

This sets the parameters by which the senior leadership team can prioritise how it deploys its

because of investment market price movements, and that such variations do not in themselves

At 31 December 2022 caba had unrestricted funds of £135.7m of which £134.0m were

otherwise designated (see note 18 (a)). In addition to the unrestricted reserves, caba held £0.4m of restricted and endowment funds.

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, client service. Each client is unique, and we recognise that while we have rules and guidelines, each client’s circumstances will determine the help and support we provide.

Requests for support are received and assessed by our experienced Support team in line with the Support Services guidelines. These guidelines are a comprehensive list of rules and guidance and include the mandatory authorisation process. Decisions are authorised via a system of strictly enforced delegated authority levels, in line with their monetary value and complexity.

team to review and propose changes - this work will continue in 2023 to ensure our guidance is

We have not conducted any fundraising activity in the year, and we have not employed any third party to fundraise on our behalf. As such we are not a member of the Fundraising Regulator.

We do accept donations, which can be made via our website or by post.

We have received no complaints about fundraising. A complaints policy is in place should we receive any in the future.

The trustees have given due consideration to the Charity Commission’s published guidance on

requirements. In line with this, we are committed to providing high quality services to the chartered accountant community.

As a charity we take our environmental responsibilities very seriously. During 2022 we formed an about these issues. We have joined CAFA (Climate Action for Associations) who provide practical tools to help us benchmark where we currently are and build a plan to work towards reducing our carbon footprint.

We also recognise the importance of our social and ethical responsibilities. During 2022 we conducted an organisation equality, diversity and inclusion (EDI) audit to help to provide us with a structure to build a more modern, inclusive organisation, both as an employer and a charity, and where it is appropriate to evolve. We used this knowledge begin to develop an EDI strategy that is integrated within the framework of our organisational strategy. The board have agreed the approach and have assigned a representative from the trustees to work closely with us to support the development of the strategy and plan of work.

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The trustees conduct regular reviews of the major risks to which we are exposed.

The Audit and Risk Committee oversees the management of risk throughout the organisation and gathers assurances that risk is being mitigated as necessary.

The Risk Register is reviewed and updated regularly by the leadership team and the responsible committees. The top risks are reported to the board each quarter and we have introduced systems and controls to mitigate the risks we face.

which may lead to an inability to respond appropriately to expectations from our community, especially our younger audience whose consumption habits tend to focus on digital channels and always-on support.

We are refreshing our data-gathering and insight functions to ensure we can understand changing needs.

In response we were able to develop our

impacting our ability to spend on direct aid.

in work and employment impact on caba on

Additionally, we are exploring costs and income over the direct aid is not impacted by rises in operational costs.

the level of awards made to ensure that they are relative.

following this year’s appointment of a senior HR professional. Externally caba will add employability to its focus for work in 2023.

This report presents information about caba and its subsidiary undertaking, caba trustees limited (company no. 01600366).

board of trustees

purposes of charity law. Under caba’s articles they are known as trustees. Eligibility for election to the board of trustees is governed by the articles, a copy of which may be obtained from the secretary or from the website.

member so appointed shall retire at the annual general meeting (AGM) following their appointment but shall be eligible for re-election. A trustee is eligible to serve for three

publicly advertised, and prospective candidates undergo a rigorous interview process. Formal training of trustees is carried out at least once a year and a full day of induction training is given to all new trustees.

If you are interested in becoming a trustee, please email

The board of trustees, who meet at least quarterly, are responsible for the strategic direction and policy of caba. At present, there are 11 trustees. There were three retirements during 2022 and the trustees would like to thank Mary Hardy, Susan Field and Catriona Flynn for their service and valuable contribution to caba.

areas of the organisation. These are the investment committee, the audit and risk committee and the support services committee. Each committee has its own terms of reference regarding its duties, responsibilities and delegated authorities, all of which were reviewed in 2021.

investment committee, and two on the audit and risk committee. All committee members undergo the same recruitment process as the trustees. There was one retirement during 2022 and the trustees would like to thank Lewis Allett for his service and valuable contribution to caba.

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The day-to-day management of caba has been delegated to the chief executive, Dr Cristian r, Robert Dawes, head of people and culture and Dr Allie Bennington head of insight and impact.

This senior leadership team is supported by passionate, experienced and knowledgeable managers and employees. Reports on the activities of caba, including management accounts, are presented for review quarterly at the trustees’ meetings.

All our employees are committed to providing the highest quality support and help.

has changed, the commitment, knowledge and expertise of our employees has been fundamental to our success as a charitable organisation.

We are committed to supporting the training and development of our employees. The trustees wish to thank and congratulate our employees on their performance in 2022, supporting ever more people during a particularly challenging year.

It is our policy to remunerate fairly, to ensure that we attract and retain the skills we require to

intention is to repeat this benchmark exercise with roles on a two-year cycle. This process is designed to ensure that the remuneration is fair and in line with that generally paid for similar roles. Our current remuneration policy is to benchmark roles at the median point.

Between cyclical reviews, we look at annual incremental rises. Here, a proposal is put forward to trustees on an annual basis as part of the budgeting process. The proposal will be informed and underpinned by evidence from a range of external reward benchmarking reports.

This policy complies with NCVO best practice.

Volunteers are an essential component of caba’s team. The trustees would like to thank them for their contribution in 2022. Our network of support volunteers and caba champions cover both the UK and overseas. Support volunteers provide an essential service and assist clients in a variety of ways, from befriending, to supporting them with administrative tasks. Our caba champions help us to engage with our wider community.

If you are interested in providing support to the chartered accountant community and would like to apply, email volunteers@caba.org.uk

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caba members are an essential link with the chartered accountant community. They help us spread the word about the support and information available to ICAEW members and their families. You do not need to be a caba member to be eligible for our support and services but as a caba member you will be eligible to:

attend and vote at the AGM

, 35 Portman Square, London, W1H 6LR , 62/63 Threadneedle Street, London, EC2R 8LA , 10 Queen Street Place, London, EC4R 1BE , 9 New Street, Daventry, Northamptonshire, NN11 4BT , 10 Queen Street Place London, EC4R 1AG , Kings Court, Water Lane, Wilmslow, SK9 5AR 24

The trustees (who are also directors of caba for the purposes of company law) are responsible for and regulations.

Kingdom generally accepted accounting practice (United Kingdom accounting standards and

the incoming resources and application of resources, including the income and expenditure, of caba

companies act 2006. They are also responsible for safeguarding the assets of caba and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

information included on caba’s website. Legislation in the United Kingdom governing the jurisdictions.

The trustees have taken the exemption available to small companies and have not prepared a strategic report.

Approved by the board on 14 March 2023 and signed on its behalf by:-

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, President

the year ended 31 December 2022 which comprise the Statement of Financial Activities, the applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

2022 and of the charitable company’s net movement in funds, including the income and

have been properly prepared in accordance with United Kingdom Generally Accepted

have been prepared in accordance with the requirements of the Companies Act 2006.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s independent of responsibilities in accordance with these requirements. We believe that the audit evidence we have

company’s ability to continue as a going concern for a period of at least twelve months from when

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

The trustees are responsible for the other information. The other information comprises the not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

information and, in doing so, consider whether the other information is materially inconsistent materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the charitable company and its environment of the trustees (which incorporates the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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As explained more fully in the trustees’ responsibilities statement set out on page 19, the trustees (who are also the directors of the charitable company for the purposes of company law) give a true and fair view, and for such internal control as the trustees determine is necessary to due to fraud or error.

company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, and company law applicable in England and Wales, and we considered the extent to which

as the Companies Act 2006, the Charities Act 2011 and considered other factors such as income tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the income. Audit procedures performed by the engagement team included:

discussions with management including consideration of known or suspected instances

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on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Because of the inherent limitations of an audit, there is a risk that we will not detect all or non-compliance with regulation. This risk increases the more that compliance with a law or as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

26/05/2023

(Senior Statutory Auditor)

For and on behalf of:

10 Queen Street Place London EC4R 1AG

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notes
£000 £000 £000 £000 £000
donations and legacies 5 670 - - 670 115
investments and other 6 4,035 - 2 4,037 3,683
4,705 2 4,707 3,798
charitable activities 7 5,045 - - 5,045 5,790
raising funds 7(a) 41 - - 41 93
5,086 5,086 5,883
2
net gains on investments 13(e) (13,174) (20) (2) (13,196) 19,086
other (losses) / gains 18 30 - - 30 (172)
16,829
net (losses) on revaluation 18 - - - - (2)
16,827
funds brough forward 149,420 304 63 149,787 132,960
17 / 18 135,895 284 63 136,242 149,787
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company number 5970606

investments investment properties programme related investments debtors falling due within one year property held for sale cash and cash equivalents less - Creditors falling due within one year

net assets

funds unrestricted funds - General fund unrestricted funds - Revaluation reserve endowment funds restricted funds

notes
12
18
14(a)
13
18
14(b)
13
19
13(d)
19
14(c)
15
16
17		 2021
£000
2022
£000
1,502
1,461
142,785
131,346
21
174
21
140
1,031
1,204
834
834
4,382
2,137
144,482
132,968
931
6,247
881
4,175
5,316
3,294
11
20
149,798
136,262
149,787
136,242
104,022
103,805
45,398
32,090
304
63
284
63
149,787
136,242

approved by the board on 14 March 2023 and signed on its behalf by

president

chair of audit and risk committee

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----- Start of picture text -----
notes 2022 2021
£000 £000
(4,512) (4,399)
2,267 5,229
830
cash and cash equivalents at the beginning of
4,382 3,550
the period
change in cash and cash equivalents due to - 2
non cash movements
14(c) 2,137 4,382
----- End of picture text -----

----- Start of picture text -----
16,827
depreciation charges 54 76
losses / (gains) on investments 13,196 (19,086)
other unrealised (gains) / losses - (5)
dividends, interest and rents from investments (4,035) (3,658)
decrease / (increase) in programme related investment 33 15
decrease / (increase) in debtors (175) 770
decrease / (increase) in property held for sale - 521
(decrease) / increase in creditors (49) 134
decrease in provision 9 7
dividends, interest and rents from investments 4,037 3,660
(12) (12)
- (3)
proceeds of sale from investment 445 1,791
purchase of investments (2,203) (207)
2,267 5,229
----- End of picture text -----

----- Start of picture text -----
at start of year at end of year
£000 £000 £000 £000
£000
cash 2,374 (267) 30 - 2,137
cash equivalents 2,008 (2,000) - (8) -
4,382 30 2,137
----- End of picture text -----

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The Chartered Accountants’ Benevolent Association (“the Charity”) exists to provide support to the chartered accountant community.

The Charity, founded in 1886 was incorporated in England and Wales in 2006 (Company no. 5970606) and is limited by guarantee.

Merrett House Swift Park Old Leicester Road Rugby Warwickshire CV21 1DZ

about the Charity.

Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the the Companies Act 2006.

policies have been consistently applied to all the years presented, unless otherwise stated.

measured at fair value. Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy notes.

The Trustees have considered the Charity’s ability to continue as a going concern. As a part of this assessment the Trustees have reviewed and approved budgets and cash basis.

The Charity’s functional and presentational currency is the pound sterling. All

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

activities.

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Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

legacies are applied for the general use of the Charity unless directed otherwise. Receipt of a legacy is recognised when it is probable that it will be received. Receipt is control of the Charity or have been met.

interest on funds held on deposit is included when receivable, this is normally upon

dividend investment income is recognised when the underlying investment is for on an accruals basis.

gift Aid recoverable is accounted for in the same period as the related income is received.

liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

all expenditure is accounted for on an accruals basis.

grants and donations payable are payments made (all to individuals) in the furtherance of the charitable objectives of the Charity. Grants and donations are recognised as expenditure at the point at which they are approved by the Charity and communicated to the recipient and where any conditions attached to the grant are outside of the control of the Charity.

that activity.

irrecoverable VAT is charged against the category for which it was incurred.

Tangible assets are stated either at cost less accumulated depreciation and accumulated impairment losses or at fair value. Cost includes the original purchase price and the costs directly attributable to bringing the asset to its working condition for its intended use.

Repairs, maintenance and inspection costs are expensed as incurred.

The Charity, using both internal and external information, assesses at each reporting date whether there is any indication that an asset might be impaired. Any impairment

All assets costing more than £1,000 are capitalised and valued at historical cost. Depreciation is charged over their useful economic life of three years from acquisition using the straight line method.

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policy to hold land and buildings at cost (previously land and buildings were held

a result of the change in accounting policy.

Land is not depreciated. Depreciation on other assets is calculated using the straight line method to allocate their residual values over their estimated useful lives.

instruments.

and short term investments are initially recognised at transaction price. Current asset investments are investments in money market instruments representing short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash.

transaction price and subsequently measured at fair value. Changes in fair value are

at transaction price and subsequently at fair value.

Listed investments are stated at the bid price at the date of the balance sheet. Fixed interest securities are stated at their dirty price (which includes any interest that has accrued since issue of the most recent coupon payment). Unquoted securities are included at fair value estimated by the Trustees based on advice from the investment investment manager.

The Charity’s policy is not to acquire put options, derivatives or other complex

Investment properties are initially recognised at cost and measured at fair value at the balance sheet date.

Programme related investments consist entirely of interest free concessionary

Concessionary loans are assessed for objective evidence of impairment at the end of the reporting period. Any impairment is disclosed within the statement

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Unrestricted general funds can be used in accordance with the charitable objects at the discretion of the Board.

Restricted funds can only be used for particular restricted purposes within the objects for particular restricted purposes.

funds is held in perpetuity.

Further explanation of the nature and purpose of each fund is included in the notes to the Financial Statements (note 19).

Provisions are recognised when the Charity has a present legal or constructive estimated reliably.

Judgements and estimations are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In making these estimates the Charity makes assumptions concerning the future. The trustees do not believe that

donations and subscriptions
legacies		 funds 2021
£000
funds 2022
£000
120
137
(5)
533
115
670		 funds 2021
£000
2022
£000
-
-
-
-

are given in our annual report. In accordance with the Charities SORP (FRS 102), the economic contribution of

dividends and interest on investments
other interest
programme related investments
other income		 funds 2021
£000
funds 2022
£000
3,651
4,019
2
21
2
2
12
2
3,681
4,035		 funds 2021
£000
2022
£000
2
2
-
-
-
-
-
-
2
2

30

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2022 2021
£000 £000
direct aid 2,882 3,044
support costs 2,163 2,745
5,045 5,789
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counselling and emotional services
legal helpline
training courses, workshops and seminars
website and video
personal and professional coaching
career support
other support advice and guidance
24 hour emotional support and advice
other		 2022
£000
2021
£000
322
27
72
160
26
91
870
136
92
949
1,127
120
115
1,045
105
182
102
25
151
114
93
2
2,882
3,044
audit fees
communications and outreach
other
depreciation		 2022
£000
2021
£000
1,145
21
1,325
18
64
106
536
114
773
54
676
76
2,163
2,745

Costs of raising funds relates to the cost of generating investment income.

investment and advisory fees for fund management
employment costs		 2021
£000
2022
£000
79
25
14
16
93
41

31

These are stated after charging:

depreciation
auditor’s remuneration: - audit services
(shown net of VAT)
auditor’s remuneration: - tax services
(shown net of VAT)
wages and salaries
employer’s pension contributions
employer’s NIC		 2021
£000
2022
£000
76
54
16
2
17
2
£000
£000
1,905
162
1,700
144
191
126
189
77
2,384
2,110
1,045
1,325
949
1,145
14
16
2,384
2,110

The Charity considers that its key management personnel comprise the Chief Executive and the Senior management.

£550k (2021 : £346k).

2022 2021
£60k - £70k 1 3
£70k - £80k 1 1
£80k - £90k 1 1
£90k - £100k - 1
£100k - £110k 1 -

The Charity operates a group personal pension scheme for employees. This scheme is managed by Aegon administered fund. The employees themselves contribute a minimum of 3%. The Charity contributes twice that of the employee up to a maximum of 10% of pensionable earnings for participating employees.

pension scheme was £144k (2021 : £162k). 49 employees contributed to the pension scheme during the year (2021 : 57 employees).

32

None of the trustees received any remuneration during the year (2021 : nil). Expenses were reimbursed or paid on behalf of 7 trustees (2021 : 7) for travel, accommodation and subsistence, totalling £2k (2021 : £1k).

No persons or entities that are closely connected to the Charity had any personal interest in any contract or transaction entered into by the Charity in the period.

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£000 £000 £000
cost at 1 January 2022 1,469 319 1,788
acquisitions in the year - 12 12
disposals in the year - (20) (20)
at 31 December 2022 1,469 311 1,780
accumulated depreciation at 1 January 2022 24 263 287
charge in year 14 39 53
disposals in year - (20) (20)
38 282 320
1,431 30 1,461
net book value at 31 December 2021 1,446 56 1,502
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Charity changed its accounting policy to hold land and buildings at cost.

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funds
£000 £000 £000
unrestricted 142,467 21 142,488
endowment 291 - 291
restricted 26 - 26
142,784 21 142,805
additions at cost 2,203 - 2,203
disposals at fair value (445) - (445)
1,758 1,758
unrestricted funds (13,174) - (13,174)
endowment / restricted (22) - (22)
unrestricted 131,051 21 131,072
endowment 271 - 271
restricted 24 - 24
131,346 21 131,367
99,195 2 99,197
cost at 31 December 2021 99,306 2 99,308
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33

The Charity owns 100% of its subsidiary CABA Trustees Limited which owns 100% of the ordinary share capital of CABA Housing Limited. The Charity guarantees the obligations of CABA Housing Limited, whose assets consisted of one residential property, which was acquired in 1989 in exchange for the provision of an annuity. During 2020 the property was sold and CABA Housing ceased to trade. CABA Housing began the process of liquidation during 2021.

The investment properties represent:

3 acres of land valued at £20k, which is let to Bracknell Forest Borough Council for use as allotments. Borough Council at no cost and has been valued nominally at £1k.

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2022 2021
£000 £000
173 190
loans issued 12 13
- -
loans repaid (47) (40)
fair value adjustment 2 10
140 173
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Programme related investments consist entirely of interest free concessionary loans secured by charges made by individuals) and received repayments of £47k (2021 : £40k). The loans are assessed annually for objective indicators of impairment and are held at fair value. No impairment was made during the year (2021 : £nil).

funds
£000
£000		 £000
unrealised (13,236) (22) (13,258)
realised 62 - 62
prepayments
ccrued income
other debtors		 2021
£000
2022
£000
149
875
111
1,051
7
42
1,031
1,204

34

Both Mitchell Court properties were marketed for sale and the sale of Unit 6 was completed in March 2021. Unit 8 has been revalued and is shown at fair value being the estimated sales price less cost to dispose on the grounds that it was actively marketed for sale at the year end.

2021 2020
£000 £000
cash at bank 2,137 2,374
short term investments - 2,008
2,137 4,382
other creditors
committed grants and donations
accruals
trade creditors
social security		 2021
£000
2022
£000
2
289
461
117
62
2
319
369
143
49
930
881
grants paid during the year
grant and donations commitments charged to the SOFA in the
year (note 7)
provision for care home top up fees		 2021
2021
£000
£000
2022
2022
£000
£000
(837)
1,127
(551)
870
290
11
319
20

A provision has been recognised for the Charity’s commitment to pay for care home top up fees as it is highly unlikely that the Charity would withdraw support once approved. Following research carried out by the Charity it was discovered that the average length of stay in a care home is 3 years. A commitment for this 3 year period has individuals receiving top up fees and agreed level of funding at the balance sheet date. At the balance sheet date the Charity was supporting 3 individuals with care home top up fees (2021 : 1 individual).

35

----- Start of picture text -----
funds funds
£000 £000 £000 £000 £000
1,461 - - - 1,461
investments 98,979 32,071 272 24 131,346
investment property 2 19 - - 21
programme related investments 140 - - - 140
cash and cash equivalents 2,086 - 12 39 2,137
property held for sale 834 - - - 834
other net assets 303 - - - 303
103,805 32,090 284 63 136,242
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----- Start of picture text -----
funds funds
£000 £000 £000 £000 £000
1,502 - - - 1,502
investments 97,089 45,379 292 26 142,786
investment property 2 19 - - 21
programme related investments 174 - - - 174
cash and cash equivalents 4,332 - 12 37 4,382
property held for sale 834 - - - 834
other net assets 89 - - - 89
104,022 45,398 304 63 149,788
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£000 £000 £000 £000 £000 £000
at 1 January 104,022 45,398 149,420 105,063 27,577 132,641
decrease in resources - -
realised 133 (71) 62 922 (698) 224
unrealised - (13,237) (13,237) - 18,817 18,817
133 922 18,119 19,041
realised 30 - 30 126 (158) (32)
unrealised - - - - (141) (141)
30 30 126
realised - - - (2) - (2)
unrealised - - - - - -
- - - -
103,805 32,090 135,895 104,022 45,398 149,420
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36

tangible assets
Less:
rogramme related investments
investment properties		 2021
£000
2022
£000
(1,502)
(174)
149,419
(21)
(1,461)
(140)
135,900
(21)
147,722
134,278

in note 19 (b) all income is unrestricted.

their dependants.

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at 1 January at 1 January
2022 2022 2021 2021
£000 £000 £000 £000 £000 £000
Caspar and Sidney Van de Linde 264 (17) 247 228 36 264
W.B. Peat memorial scholarship 40 (3) 37 35 5 40
304 284 263 41 304
at 1 January
2022 2022
£000 £000 £000 £000 £000
special fund 59 1 - (2) 58
W.B. Peat memorial scholarship 4 1 - - 5
63 2 63
at 1 January
2021 2021
£000 £000 £000 £000 £000
special fund 54 1 - 4 59
W.B. Peat memorial scholarship 3 1 - - 4
57 2 4 63
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Income is restricted and is applied in accordance with the respective terms of the trust indicated.

37

caba: for the everyday and the exceptional