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2020-12-31-accounts

Company number: 06374591 Charity Number: 1122095

The Centre for Innovation in Voluntary Action

Annual report and financial statements For the year ended 31 December 2020

The Centre for Innovation in Voluntary Action

Contents

For the year ended 31 December 2020

Reference and administrative information .................................................................................... 1 Trustees’ annual report ................................................................................................................ 2 Independent auditor’s report ...................................................................................................... 15 Statement of financial activities (incorporating an income and expenditure account) .................. 19 Balance sheet ............................................................................................................................. 20 Statement of cash flows .............................................................................................................. 21 Notes to the financial statements ............................................................................................... 22

The Centre for Innovation in Voluntary Action

Reference and administrative information

For the year ended 31 December 2020

Company number 06374591 – incorporated in the United Kingdom Charity number 1122095 – registered in England and Wales Registered office 9 Mansfield Place and operational London address NW3 1HS Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Nicola Pollock Chair Michael Norton OBE Secretary and Honorary Director Keya Advani Appointed 9 September 2020 Sharla-Jaye Duncan Appointed 9 September 2020 Kianu Glasgow Appointed 9 December 2020 Toby Lloyd David Miller Trupti Patel Jonathan Saverimuttu Johannes Sulzberger Henry Warren Bankers CAF Bank Ltd Kings Hills West Malling ME19 4TA Solicitors Bates Wells 10 Queen Street Place London EC4R 1BE Auditor Sayer Vincent LLP Chartered Accountants Invicta House 108-114 Golden Lane London EC1Y 0TL

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

The Trustees of The Centre for Innovation in Voluntary Action (CIVA) present their report and the financial statements for the year ended 31 December 2020.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The charitable objects of CIVA are “to advance any purpose which is recognised as being exclusively charitable under the laws of every part of the United Kingdom”.

CIVA specialises in taking good ideas and turning them into successful and sustainable programmes. The main thrust of our work at the present time is in the following areas:

The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The charity's main activities and who it tries to help are described below. All its charitable activities are undertaken to further The Centre for Innovation in Voluntary Action’s charitable purposes for the public benefit.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

Programmes

2020 saw the emergence of the Covid-19 pandemic, with the country in various levels of lock down from March 2020 and continuing into 2021. This had a significant impact on CIVA and the delivery of its programmes and also on the organisations and initiatives we were supporting. Nonetheless our work progressed and continued to develop.

1 Make My Mark

Make My Mark is an opportunity fund which offers bursaries of £3,000 in cash plus mentoring and other support (valued at £2,000) to young people between 18 and 30 who have an idea for their future which they want to pursue, but who need practical, financial and personal support to be helped to move forward.

A third series of awards totalling £16,852 was made in November 2020, with the young people recommended for an award coming through Peabody Housing, Urban MBA and Carney’s Community, each organisation being responsible for the administration of the awards made to their young people and for providing mentoring and other support to their award winners. A total of 7 awards were made, which were assessed and decided by a panel of young people and staff from our three partner organisations.

The aim is to see if a “boost” to a young person to encourage and support them to “follow their dreams” can make a significant impact on the direction of their lives and prospects. The programme is being funded by private donations, and sufficient funds have been pledged for the awards to continue. During 2020 we explored possible other partners and sponsors whom we might work with whilst also finding ways of expanding the scheme. This effort will continue into 2021, when we hope to be able to offer awards to more young people. Our long-term goal is that many more young people should have an opportunity to plan and work towards a more positive and engaged future.

2 Mental Wellbeing Project

Our mental well-being work is now being run through States of Mind CIC which we continue to support. The programme seeks to create solutions to issues of adolescent mental health and wellbeing. In the 2019-20 school year, we worked intensively with 6 schools and colleges in Newham, where we created Mental Health Ambassadors from among the school students whose role was to (a) act as advocates for mental wellbeing in their schools, (b) develop their own practical projects and (c) inspire more young people to engage with the issues. This was funded with a service agreement with the London Borough of Newham and an Awards for All grant. Their grant was continued into 2020-21 which enabled us to develop mechanisms for working online, which will be of real use in a post-pandemic world.

From August 2020 we introduced a second strand into the programme. We had conducted a survey with young people attending the schools we were working with to explore the prime causes of stress and depression. The issue that came to the fore was the examination system. As a result, we initiated a programme to work with young people to explore better ways of assessing school

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

and pupil performance. This “Alternative OfSted” programme funded by CIVA is being led by Chris Bagley, who is based at the Institute of Education. The big questions are what would education look like if wellbeing and happiness were one goal for assessing educational outcomes, and if this were a goal, then would educational achievement improve as a result.

This programme initiated by CIVA is being taken forward by States of Mind CIC. Michael Norton is a Director of States of Mind CIC.

3 An Even Better Arbourthorne

We want to find ways of solving poverty in the UK through a mixture of enterprise, collaboration and cooperation, sharing, community self-reliance and developing new systems and structures for the delivery of services. We identified, Arbourthorne Community Primary School in Sheffield to become a central point for engaging with parents, children and people of all ages in the local community within its catchment area.

We signed a Memorandum of Cooperation with the school in July 2018, and appointed Grow Theatre, a theatre-in-education company with a track record of encouraging community participation, to create a small team in Sheffield to coordinate the programme from September 2018. We also engaged the University of Sheffield as a partner, who are working with us on enterprise development, developing the school as a “Maker School”, creating a women savings group and bringing the resources of the University into the community to help create solutions. Our principal University partner is the Urban Institute.

The project was formally launched in mid-November 2019. Our first initiative was the “Action Stations” community awards scheme; we offer up to £250 to any person or individual with an idea to improve the community or benefit their own future prospects. This continues.

In July 2019 we obtained a grant from the Reaching Communities Fund of the National Lottery Community Fund, with further funds from the Tudor Trust and from a small group of private donors. The programme is organised for us by Grow Theatre along with the Executive Headteacher and Senior Management Team of the school. In 2020 as a result of the pandemic, initiatives such as a fortnightly family feast, a clothes swap shop and a food growing initiative had to be put on hold. The community fridge was moved to another location and along with a team of volunteers from our programme has been playing an important role in addressing food poverty. We wanted to do more to encourage and reward volunteering, and in March 2020 a Volunteer Coordinator, who is also a parent, was appointed at the school so that we could put more emphasis on this. We aim to double the number of volunteers and then double the number again, whilst creating ways of adequately recognising and rewarding our volunteers. Emphasis on this will resume after restrictions on social distancing are eased. In July 2020 we obtained an uplift grant from the lottery to undertake more work in encouraging food growing.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

4 Social Enterprise in China

5 The Simon Norton legacy

On 12th February 2019, Simon Norton, Michael’s brother died. Simon was an acclaimed mathematician and the subject of a best-selling biography “The Genius in My Basement” by Alexander Masters. Simon left a legacy to CIVA which will amount to approximately £1.75 million, the first part of which was received during 2019. Trustees have agreed to designate funds from this legacy as follows:

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

We have also supported the following initiatives run by third parties:

6 The Chancery Lane Project

The Chancery Lane Project (TCLP) aims to rewire contracts and laws so they are aligned with climate-related considerations. In 2020, TLCP:

TCLP secured two rounds of funding in 2020: to establish proof of concept; and to promote TCLP's approach in the run up, during and after COP26 which is being held in Glasgow in November 2021. The intention for 2021 is to start to scale up the approach and raise long-term funding to expand the work globally.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

7 Environmental initiatives

Support for other social enterprises

CIVA provides advice and support to third party social entrepreneurs to help them get started and develop their projects through to sustainability as independent charities or social enterprises. In 20, we assisted the following organisations:

CIVA Gatherings

CIVA had been developing forums to foster discussion and promote collaboration on social innovation. No events were organised during 2020 due to the pandemic; but we did organise two Zoom round tables on finding investment for sustainable farming.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

Programme-related investments

Over the years CIVA has been developing a portfolio of programme-related investments in social enterprises either in projects that it has initiated or where there is scope for working in partnership. At the end of 2017, the investments were valued as follows:

The total valuation of CIVA’s programme-related investments at December 2020 was £115,294. This excludes the investments made through the CIVA:Invests social investment fund.

A convertible loan in Sampurn(E)arth was donated to us by the Social Entrepreneurs Trust and is being held at no value, as we believe that there is little likelihood of this investment generating any return of either income or capital.

The CIVA:Invests Social Investment Fund

From December 2015 and during 2016, CIVA received proceeds in three instalments from a share donation made by Michael Norton of 140,000 shares in a private company called NJF Property Holdco Ltd, which owned the freehold to 169 New Bond Street. This resulted in April 2016 in the creation of a designated fund of £1million held by CIVA to be used for early-stage social investment within CIVA’s charitable purposes. In January 2018, Michael Norton gifted 40,000 shares in a second private company called NJF Holdco Ltd which resulted in further sums totalling £45,595 being received during 2018 which were designated for the CIVA:invests fund. Further funds continue to be received as NJF HoldCo Ltd is liquidated, which are being held as general funds.

The primary aim of the CIVA:Invests fund is to achieve social impact, and the investments will all be “programme related”, affordable and for a charitable purpose. It is intended that most investments will be made in the form of affordable loans.

Decisions on allocation of funds are made by an Investment Committee which currently has 7 members including 5 trustees, which has delegated authority from the trustee’s subject to a policy for the fund set by the trustees, which is reviewed from time to time. The ethos of this fund is set out in a handbook which is freely available. The total value of the fund at the end of 2020 was £1,051,341. At the end of 2020, we had provided loan finance to:

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

During the pandemic we were mindful of the problems that some of our investees were facing and we offered interest holidays and deferral of capital repayments to those ventures which were experiencing financial difficulties to help them through this difficult period.

At year end, the charity converted £13,000 of the £40,000 loan made to Music Memory Box in 2019 to a grant, following an impairment review of social investments.

CIVA also committed £250,000 loan at 2% interest on amounts outstanding in order to establish the LEAP Fund (loans for enlightened agriculture) which is being developed on the initiative of CIVA operated by the Real Farming Trust. Co-investment was received from Esmée Fairbairn Foundation and the A Team Foundation to create a loan fund of approximately £1 million, with additional support of £120,000 provided through CIVA by Ms Doro Marden which is to be used as a first loss fund. Further funds were raised to provide grants alongside loans and for capacity building support. At end-2020 loans of £666,056 were outstanding.

CIVA helped the Foundation for Integrated Transport create a similar £2 million fund which is supporting public transport and affordable access and mobility, which made its first 3 investments during 2020.

Funds held by CIVA for distribution

Davina’s Fund: Mrs. Davina Vickers with her children immediately prior to her death and through a Deed of Arrangement to her Will have created a Fund for general charitable purposes which CIVA holds and operates, which has a particular interest in hospice care and in promoting opera in care settings. The Fund supported the development and production of a CIVA-led initiative. This was a participatory opera entitled “6 Characters in Search of an Opera” which was performed in elder care establishments and hospitals through 5 tours during 2017-18. In 2018, the opera was rewritten for a cast of 3 under the new title “The Audition” and this was toured three times in 2018, and twice in 2019 when it was partially funded by income from performances and a charitable grant. In 2020, further funds were received from the Arts Council to develop the format further and make materials available on-line. This led to the creation of “The Soprano”, a performance piece for a single signer performing in care homes.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

MSN Fund: Further donations to this Fund of £57,519 (including Gift Aid) were received during 2020. The Fund supports projects that promote human rights, peace, health and wellbeing. The trustees are advised on the distribution of this Fund by Prue Norton, Ian Bowden, Jessica Burnett, Isabelle Gore, Richard Scott, Zaki Shah and Keya Advani, a CIVA trustee. During 2020, £97,100 was distributed including grants made through the Network for Social Change for onward support to projects funded by this charitable trust. At the end of 2020, a sum of £512,689 remained available for distribution.

Roger Ross Fund: During 2019 we received a donation of £200,000 to create a fund which will focus mainly on environmental sustainability, and will be run with the donor, Roger Ross. During 2020 we explored two opportunities for capital investment for sustainable farming and environmental education which did not proceed. We made a grant for charitable purposes to Extinction Rebellion for the promotion of understanding of the impact of climate change. The fund made a commitment to support some of CIVA’s environmental initiatives in 2021.

Plans for the future

During 2021, we will be concentrating on developing two of our big initiatives on climate change:

We also plan to seek ways of expanding two of our programmes:

Financial review

The Charity's funding mainly comes in the form of grants and donations raised for the various projects described above. During the period, incoming resources totalled £716,653 and expenditure £599,238. Restricted funds at the end of the year totalled £1,128,612 all of which were earmarked for specific projects. Full details of the application of funds and movement in resources are given in the Statement of Financial Activities. All assets are held in furtherance of the objects of the Charity. The financial statements comply with current statutory requirements and with the Charity's governing document.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Trustees have reviewed all these risks, their likelihood of occurring and their impact on the charity. The major area of concern has been succession management as the charity relies heavily on the Director. Financial administration and asset management have both been strengthened, and when new initiatives are launched, plans are developed for how they will continue sustainably and often independently, Alongside this in 2020 trustees comprehensively reviewed and implemented a data protection policy relevant to all aspects of the Charity’s work.

Reserves policy and going concern

The Charity’s policy is to maintain a reserve fund that will cover two year’s administration costs of the charity and provide an unrestricted fund out of which expenditure can be incurred from time to time to further the charitable objectives. Based on the above policy, the level of target reserves is £60,000. The current level of free reserves of £52,934 is £7,066 below our target. Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The charity’s operations continued through the Covid-19 pandemic, and we obtained three grants for developing new ways of working relating to the experience and how this might create new opportunities for when we emerge and one for staff welfare. We also decided to offer interest holidays to our CIVA: Invests clients initially for 3 months or longer dependent on circumstances, to help ease them through the situation.

Investment of funds

With the receipt of the Simon Norton legacy and the need to invest funds for the medium term, the trustees agreed an investment policy which was to hold funds for the medium term to provide a financial return that at least maintains and ideally increases the spending power of our funds over time. The Charity will invest in any of the following types of investment:

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

When investing in shares, The Charity will take into account environmental, social and governmental impact when making its investment decisions. The Charity will not directly invest in the following types of investment:

Trustees appointed Johannes Sulzberger, who is also a trustee, as investment advisor, who is undertaking this role pro bono. During 2020, we invested £800,510 of the Simon Norton legacy in various ESG-screened index-linked funds with any surplus or loss being allocated to the designated fund which supports maths initiatives. Our custodian for these investments is Canaccord.

Fundraising

Whilst CIVA engages in public fundraising, it does not use professional fundraisers or commercial participators. CIVA nevertheless observes and complies with the relevant fundraising regulations and codes. During the year there was no non-compliance of these regulations and codes and the Trust received no complaints relating to its fundraising practice.

Staffing

As at 31 December 2020, the charity employed 5 full-time equivalent staff; one on a permanent contract and four on temporary contracts. The main work carried of the Charity is carried out by the Honorary Director without remuneration. All Trustees are actively engaged in the work of the charity together with the social entrepreneurs which the Charity supports. All Trustees give their time freely.

The Charity also operates in a similar way to a “Barristers Chambers” with other principals developing and running their own projects as an integral part of the Charity’s work. During 2020 these included: Benjamin Metz, who is responsible for The Chancery Lane Project, Better Nature and other initiatives; Bea Herbert, who is responsible for developing and delivering the States of Mind project, which addresses the mental wellbeing of young people; Camilla Vickers, who is responsible for HealthPitch which brings music to older people in care homes and hospitals; Hera Hussain, who is developing Chayn as an on-line platform for addressing domestic abuse around the world; and Yan Zeng, who is developing SI Network for sharing and cooperation on social enterprise between the UK and China.

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

From time to time, the Charity assists new ventures during their start-up period, offering free consultancy and assisting with strategy, fundraising and the handling of donations. During the year, a number of projects, AimHi and Don’t Forget the Bubbles, were assisted in this way.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 18 September 2007 and registered as a charity on 20 December 2007.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

As of 1 January 2008, it took over many of the activities being undertaken by a charitable trust operating under the same name which was established in July 1995.

Details of the Trustees who served during the year and to the date of this report are given on page one. New Trustees are recruited and appointed by the existing Trustees subject to their total number not exceeding nine. New trustees are given a copy of CIVA’s condition and latest Annual Report and Accounts, and referred to the Charity Commission website to access resources on fulfilling a charity trustee role. They are also provided with a “buddy”, an existing trustee with whom they can discuss any problems or issues relating to their role.

All Trustees are actively engaged in the work of the charity together with the social entrepreneurs which the Charity supports.

All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.

Statement of responsibilities of the Trustees

The Trustees (who are also directors of The Centre for Innovation in Voluntary Action for the purposes of company law) are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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The Centre for Innovation in Voluntary Action

Trustees’ annual report

For the year ended 31 December 2020

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The Trustees’ annual report has been approved by the Trustees on 9 June 2021 and signed on their behalf by

Michael Norton

Hon Director and Trustee

14

Independent auditor’s report

To the members of

The Centre for Innovation in Voluntary Action

Opinion

We have audited the financial statements of The Centre for Innovation in Voluntary Action (the ‘charitable company’) for the year ended 31 December 2020 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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 responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Centre for Innovation in Voluntary Action's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

15

Independent auditor’s report

To the members of

The Centre for Innovation in Voluntary Action

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual 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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Independent auditor’s report

The Centre for Innovation in Voluntary Action

To the members of

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable 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.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a 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 material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

17

Independent auditor’s report

To the members of

The Centre for Innovation in Voluntary Action

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, 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.

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

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.

Noelia Serrano (Senior statutory auditor)

17 June 2021

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

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The Centre for Innovation in Voluntary Action

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2020

Unrestricted
Note
£
Income from:
2
8,349
3
2,468
4
28,843
39,660
136,490
5
136,490
(96,830)
50,492
7
(46,338)
(9,564)
(55,902)
Reconciliation of funds:
2,939,401
2,883,499
Donations and legacies
Investments
Total income
Expenditure on:
Other trading activities
Net gains/(losses) on revaluation and impairment of
investments
Net income / (expenditure) before net
gains/(losses) on investments
Total funds carried forward
Net income / (expenditure) for the year
Total expenditure
Charitable activities
Transfers between funds
Net movement in funds
Total funds brought forward		 Unrestricted
Note
£
Income from:
2
8,349
3
2,468
4
28,843
39,660
136,490
5
136,490
(96,830)
50,492
7
(46,338)
(9,564)
(55,902)
Reconciliation of funds:
2,939,401
2,883,499
Donations and legacies
Investments
Total income
Expenditure on:
Other trading activities
Net gains/(losses) on revaluation and impairment of
investments
Net income / (expenditure) before net
gains/(losses) on investments
Total funds carried forward
Net income / (expenditure) for the year
Total expenditure
Charitable activities
Transfers between funds
Net movement in funds
Total funds brought forward		 Restricted
£
674,217
594
2,182		 2020
Total
£
682,566
3,062
31,025		 Unrestricted
£
1,724,074
13,073
21,623		 2019
Restricted
Total
£
£
727,816
2,451,890
-
13,073
2,506
24,129
730,322
2,489,092
424,779
496,980
424,779
496,980
305,543
1,992,112
-
(4,474)
305,543
1,987,638
(30,165)
-
275,378
1,987,638
629,425
1,856,566
904,803
3,844,204
39,660 676,993 716,653 1,758,770
136,490 462,748 599,238 72,201
136,490 462,748 599,238 72,201
(96,830)
50,492		 214,245
-		 117,415
50,492		 1,686,569
(4,474)
(46,338)
(9,564)		 214,245
9,564		 167,907
-		 1,682,095
30,165
(55,902)
2,939,401		 223,809
904,803		 167,907
3,844,204		 1,712,260
1,227,141
2,883,499 1,128,612 4,012,111 2,939,401

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the financial statements.

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The Centre for Innovation in Voluntary Action

Balance sheet

Balance sheet
As at 31 December 2020 Company no. 06374591
Note
Fixed assets:
12
13
Current assets:
14
Liabilities:
15
17a
Total unrestricted funds
General funds
Total charity funds
Programme related investments
Cash at bank and in hand
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Restricted income funds
Unrestricted income funds:
Designated funds
Investments
Debtors		 £
227,886
2,225,748		 2020
£
£
854,097
781,350
1,635,447
581,705
2,627,832
3,209,537
(30,645)
2,376,664
4,012,111
1,128,612
2,748,206
191,195
2,883,499
4,012,111		 2019
£
-
665,312
665,312
3,178,892
2,453,634
(76,970)
2,715,271
168,228
3,844,204
904,803
2,939,401
3,844,204

These accounts have been prepared in accordance with the special provisions applicable to small companies subject to the small companies' regime.

Approved by the trustees on 9 June 2021 and signed on their behalf by

Michael Norton Trustee

Nicola Pollock Trustee

20

The Centre for Innovation in Voluntary Action

Statement of cash flows

For the year ended 31 December 2020

Net income for the reporting period
(as per the statement of financial activities)
(Gains)/losses on investments
Dividends, interest and rent from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Repayment of programme related investments
Conversion of loan to grant
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Net cash (used in) investing activities
Cash flows from operating activities
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
New loan programme related investments
Purchase of investments
Decrease in cash held by investment managers		 £
£
£
£
167,907
1,987,638
(50,492)
4,474
(31,025)
(24,129)
353,819
(576,483)
46,325
(3,799)
486,534
1,387,701
31,025
24,129
(800,510)
-
247
-
60,718
46,004
13,000
20,000
(193,098)
(307,523)
(888,618)
(217,390)
(402,084)
1,170,311
2,627,832
1,457,521
2,225,748
2,627,832
2020
2019
31,025
(800,510)
247
60,718
13,000
(193,098)

21

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

1 Accounting policies

a) Statutory information

The Centre for Innovation in Voluntary Action is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address and principal place of business is 9 Mansfield Place, London, NW3 1HS.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

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

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. Further information to explain the reserves position of the charity can be found in the trustees' annual report.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

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

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Interest receivable

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

g) Fund accounting

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

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

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

22

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

1 Accounting policies (continued)

h) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Grants payable

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate of the amount attributable to each activity.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Investments

Financial investments are recognised at their transaction value and subsequently measured, if public at market value based quoted market prices; or if private at a reasonable estimate of fair value based on a recent transaction of an identical asset.

Programme related investments

Programme related investments are carried at fair value where this is practicable, otherwise they are recognised at historic cost. Such investments are subject to regular review, and any diminution is charged to the SOFA. Investments valuations are not enhanced to more than original cost.

l) Debtors

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

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

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

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

23

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

2 Income from donations and legacies

Grants
UNDP
FILE Foundation
Sebba Trust
Other
Sub-total grants
Donations
Legacies
Frederick Mulder Foundation
Climate Works
Laudes Foundation
Vitol Foundation
Charity Projects/Comic Relief
Paul Hamlyn Foundation
Garfield Weston
D'Oyly Carte
Arts Council
Network for Social Change
A.Jurgens Charity
National Lottery
Wiltshire Music
Tudor Trust		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
£
27,631
63,000
-
4,950
-
120,625
15,500
-
-
51,125
178,859
8,029
15,000
4,950
2,970
29,730
4,287
3,832		 2020
Total
£
27,631
63,000
-
4,950
-
120,625
15,500
-
-
51,125
178,859
8,029
15,000
4,950
2,970
29,730
4,287
3,832		 Unrestricted
£
-
-
-
-
-
-
-
-
2,500
-
-
-
-
-
-
-
-
-		 Restricted
2019
Total
£
£
-
-
-
-
19,800
19,800
44,498
44,498
3,960
3,960
19,500
19,500
20,000
20,000
1,287
1,287
-
2,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,500
2,500
111,545
114,045
616,271
643,845
-
1,694,000
727,816
2,451,890
- 530,488 530,488 2,500
8,349
-		 143,729
-		 152,078
-		 27,574
1,694,000
8,349 674,217 682,566 1,724,074

3 Income from other trading activities

Book sales
Consultancy
Other		 2020
Total
2019
Total
£
£
323
421
2,145
12,652
594
-
3,062
13,073

All income from trading activities is unrestricted.

4 Income from investments

Deposit account interest
Income from investments		 Unrestricted
£
8,552
20,291		 Restricted
£
2,182
-		 2020
Total
£
10,734
20,291		 Unrestricted
£
5,634
15,989		 Restricted
2019
Total
£
£
2,506
8,140
-
15,989
2,506
24,129
28,843 2,182 31,025 21,623

24

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

5a Analysis of expenditure (current year)

Staff costs (note 8)
Grants and donations made (note 6)
Premises and overhead costs
Project costs
Other costs
Professional fees
Support costs
Governance costs
Total expenditure 2020
Total expenditure 2019		 Charitable
activities
£
46,143
271,793
-
260,869
843
1,865		 Governance
costs
£
-
-
-
-
-
10,020		 Support
costs
£
-
-
7,705
-
-
-		 2020
Total
2019
Total
£
£
46,143
-
271,793
371,498
7,705
3,180
260,869
111,439
843
1,863
11,885
9,000
599,238
496,980
-
-
-
-
599,238
496,980
581,513
7,705
10,020		 10,020
-
(10,020)		 7,705
(7,705)
-
599,238 - -
496,980 - -

25

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

5b Analysis of expenditure (prior year)

Grants and donations made (note 6)
Premises and overhead costs
Project costs
Other costs
Professional fees
Support costs
Governance costs
Total expenditure 2019		 Charitable
activities
£
371,498
-
111,439
1,863
-		 Governance
costs
£
-
-
-
-
8,700		 Support
costs
2019
Total
£
£
-
371,498
3,180
3,180
-
111,439
-
1,863
300
9,000
3,480
496,980
(3,480)
-
-
-
-
496,980
484,800
3,480
8,700		 8,700
-
(8,700)
496,980 -

26

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

6 Grant making and donations made

BSST
Chayn
Make My Mark awards
Aaliyah & Kianu Glasgow (joint award)
Aaron Hetty
Maya Egbo
Rachel Richmond
Reema Ali
Jessica Ryan-Ndegwa
Reece Lukeman
Luciano Somers
Schmona Henry
Fair Finance
James Quaife
Peabody Community Foundation
Other
Urban MBA
MathsWorld UK
Natural Resilience Project
Henry Warren (Turn on the Subtitles)
Medical Foundation
Refuaid
Sky School
Network for Social Change
Roladome
Music Memory Box
Real Farming Trust (LEAP)
An Even Better Arbourthorne
Caroline Diehl
Climate Emergency Action
Deep Black
Growtheatre
Karima Mbarak
Rayel Baines
Isaac Bokoko
Hackney Migrant Centre
Hot Breakfast
Bloody Good Period
Child Migrant Stories
Fahema Begum
Shanelle Webb
Tolulope Ogunremi
Zulaikha Esmail
Sub-total grants
Grants		 2020
Total
2019
Total
£
£
3,000
-
10,000
29,800
-
5,000
6,000
-
-
49,720
-
5,000
10,000
-
5,000
-
10,000
-
13,200
-
30,000
-
-
4,500
-
3,000
-
1,500
-
3,000
-
3,000
-
4,500
-
3,000
-
3,000
-
1,500
1,852
-
3,000
-
3,000
-
3,000
-
3,000
-
1,500
-
1,500
-
18,000
-
2,500
-
-
3,000
-
20,000
14,500
14,500
-
5,000
-
5,000
13,000
-
21,500
14,500
-
-
21,477
8,411
-
10,000
5,000
-
-
5,000
-
7,400
200,029
209,331

27

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

6 Grant making and donations made (continued)

Donations
Akwaaba
Bloody Good Period
BSST
Chayn
Connected Routes CIC
Funding for Social Change
Hackney Migrant Centre
Ice & Fire
Journey to Justice
Lawyers for Nature
Make Pivot
Mark Maughan
Network for Social Change
The Money Charity
The Funding Network
The Intrapreneurs Club
Year Here
Other
We Are Lemonade
Total
Sub-total donations
Unity Project
Supply Change		 -
5,000
10,698
92,381
7,000
-
-
18,008
4,606
-
900
-
-
5,000
10,000
-
5,000
5,119
2,607
-
956
-
-
5,000
13,700
6,100
3,627
-
-
5,000
300
-
2,500
-
8,000
-
1,794
-
-
5,244
77
15,315
71,764
162,167
271,793
371,498

All grants and donations made were to institutions, except where noted above.

This is stated after charging:

This is stated after charging:
2020 2019
£ £
Auditor's remuneration (excluding VAT):
Audit 7,400 7,250

28

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

Staff costs were as follows:

Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes		 2020
2019
£
£
44,840
-
-
-
1,303
-
46,143
-

No employee earned more than £60,000 during the year (2019: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £nil (2019: £nil).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2019: £nil) except as disclosed in note 10. No charity trustee received payment for professional or other services supplied to the charity (2019: £nil) except as disclosed in note 10.

Trustees' expenses represents the payment or reimbursement of travel, subsistence and other costs incurred in the running of the charity. In 2020, these costs totalled £3,839 (2019: £12,245) and were incurred by 3 (2019: 3) members.

9 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 1.83 (2019: nil).

10 Related party transactions

During the year the Secretary Michael Norton, who is also a Trustee, donated £15,549 (2019: £20,355). In addition, the Secretary is a shareholder of The Do School and a director of States of Mind which is a recipient of funds from CIVA.

A grant was awarded of £14,500 (2019: £14,500) to Henry Warren, a trustee, as part of the Turn on the Subtitles project. Henry took no part in the decision to make this award.

Kianu Glasgow, a trustee, received a £3,000 MakeMyMark award in 2019 prior to her becoming a trustee, a part of which was drawn down in 2020.

A £10,000 loan was made to The Intrapreneurs Club, a social enterprise founded by Sharla-Jaye Duncan, a CIVA trustee, who is its CEO.

There are no other donations from related parties which are outside the normal course of business.

11 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

29

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

12
13
Loan repayments
Equity investments
Loans
Year Here (loan 1)
Year Here (loan 2)
HiSbe
Music Memory Box
Real Farming Trust (Farm Fund)
School Space
Prison Voicemail
Social Spider
Watobe
Drumroll HQ
Intrapreneurs Club
Total programme related investments
Fair value at the start of the year
Cash held by investment broker pending reinvestment
Investments
Revaluation during the year
Programme related investments
Additions at cost
Equity in Emerge Venture Lab
Foreign exchange revaluation of overseas investments
Conversion of loan to grant
Additions
Disposals
Redemption Roasters (loan 1)
Equity in The Do School 3% stake
Redemption Roasters (loan 2)
Nemi Teas
Stronger Stories (loan 1)
Stronger Stories (loan 2)
Fair value at the start of the year
Fair value at the end of the year
Investments comprise:		 2020
£
-
800,510
-
53,834		 2019
£
-
-
-
-
854,344
(247)
854,097		 -
-
-
2020
£
665,312
193,098
(60,718)
(3,342)
(13,000)		 2019
£
428,267
307,523
(46,004)
(4,474)
(20,000)
781,350 665,312
2020
£
110,294
5,000		 2019
£
113,636
5,000
115,294
25,277
32,252
85,000
27,000
59,137
27,667
46,122
63,099
30,504
35,000
50,000
34,998
100,000
10,000
10,000
30,000		 118,636
35,127
35,000
85,000
40,000
17,523
30,000
-
74,144
44,882
35,000
50,000
-
100,000
-
-
-
666,056 546,676
781,350 665,312

30

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

14
15
16a
16b
Creditors: amounts falling due within one year
Debtors
Accruals
Other debtors
Analysis of net assets between funds (current year)
Net assets at the end of the year
Analysis of net assets between funds (prior year)
Net current assets
Net assets at the end of the year
Investments
Net current assets
Other creditors
Investments
Programme related Investments		 General
unrestricted
£
-
115,294
52,934		 £
854,097
666,056
1,195,118
Designated		 2020
£
227,886		 2019
£
581,705
227,886 581,705
2020
£
2,338
74,632		 2019
£
5,863
24,782
76,970 30,645
Restricted
£
-
-
1,128,612		 Total funds
£
854,097
781,350
2,376,664
168,228 2,715,271 1,128,612 4,012,111
General
unrestricted
£
118,636
72,559		 £
546,676
2,201,530
Designated		 Restricted
£
-
904,803		 Total funds
£
665,312
3,178,892
191,195 2,748,206 904,803 3,844,204

31

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

17a Movements in funds (current year)

Movements in funds (current year)
Total restricted funds
Total designated funds
General funds
James Davenport
Healthpitch/Opera Project
Farm Fund
Chayn
Roger Ross
MS Norton Fund
Better Nature
Create equity
Make My Mark (Fighting Chance)
Job Design Lab
Pedal for Purpose
Year Here
Alternative Ofsted
CIVA:invests
New Projects Fund
Sarah Dodd's Fund
Degrees of Opportunity
COP26
Surplus Food Project
Designated funds:
Maths Fund
Bloody Good Period
Total unrestricted funds
The Intrapreneurs Club
An Even Better Arbourthorne
Restricted funds:
Unrestricted funds:
Alternative Ofsted
Urban Mushroom Project
Don't Forget the Bubbles
Social Enterprise India
The Chancery Lane Project
Total funds
Urban Mushroom Project		 At 1 January
2020
£
-
8,029
-
3,146
-
-
-
81,583
45,635
592
-
16,221
552,270
1,335
189,500
6,492
-
-
-
-
-		 Income &
gains
£
15,000
93,006
27,631
8,527
12,979
15,000
309
30,000
40,471
-
49,500
1,852
57,519
-
-
226
9,220
2,500
296,984
5,287
10,982		 Expenditure
& losses
£
(7,109)
(110,599)
(27,668)
(10,932)
-
-
-
(21,477)
(39,589)
-
-
(16,968)
(97,100)
-
(11,690)
(4,345)
-
(2,500)
(100,598)
(1,191)
(10,982)		 Transfers
At 31
December
2020
£
£
-
7,891
9,564
-
-
(37)
-
741
-
12,979
-
15,000
-
309
-
90,106
-
46,517
-
592
-
49,500
-
1,105
-
512,689
-
1,335
(10,000)
167,810
-
2,373
-
9,220
-
-
-
196,386
10,000
14,096
-
-
9,564
1,128,612
-
1,051,341
-
1,391,130
(9,564)
206,300
7,500
7,500
25,000
15,000
10,000
10,000
25,000
24,000
10,000
10,000
67,936
2,715,271
(77,500)
168,228
(9,564)
2,883,499
-
4,012,111
904,803 676,993 (462,748)
1,068,706
1,355,200
324,300
-
-
-
-
-		 20,291
53,834
-
-
-
-
-
-		 (37,656)
(17,904)
(108,436)
-
(10,000)
-
(1,000)
-
2,748,206 74,125 (174,996)
191,195 16,027 38,506
2,939,401 90,152 (136,490)
3,844,204 767,145 (599,238)

32

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

17b Movements in funds (prior year)

Total restricted funds
Total designated funds
General funds
Two Birds/Seaver Foundation
Total unrestricted funds
Chayn
Davina's Fund
Farm Fund
Healthpitch/Opera Project
Journey to Justice
Greenwave project
An Even Better Arbourthorne
Advance Decision
Bloody Good Period
Hub Book
Total funds
CIVA:invests
Trauma Treatment International
Maths Fund
New Citizenship Project
Designated funds:
Sarah Dodd's Fund
MSN Peace Fund
Pedal for Purpose
States of Mind
Roger Ross
Year Here
New Projects Fund
Unrestricted funds:
Mums for Lungs
James Davenport
Make My Mark (Fighting Chance)
Marmalade
Restricted funds:		 At 1 January
2019
£
7,473
-
74,394
5,222
40,891
59,997
1,526
(50)
3,300
592
119
44,971
743
-
16,396
324,839
9,613
-
38,464
-
297
79
559		 Income &
gains
£
-
63,900
41,048
62,523
-
29,997
-
6,056
-
-
-
1,250
-
2,000
-
314,831
-
197,500
-
6,532
-
-
4,685		 Expenditure
& losses
£
-
(45,640)
(112,296)
(67,740)
-
(8,411)
(1,649)
(6,257)
-
-
(119)
(30,000)
(806)
(1,980)
(16,096)
(87,400)
(8,278)
(8,000)
(11,502)
(13,064)
(297)
-
(5,244)		 Transfers
At 31
December
2019
£
£
(7,473)
-
(10,231)
8,029
-
3,146
(5)
-
(40,891)
-
-
81,583
123
-
45,886
45,635
(3,300)
-
-
592
-
-
-
16,221
63
-
(20)
-
(300)
-
-
552,270
-
1,335
-
189,500
(20,470)
6,492
6,532
-
-
-
(79)
-
-
-
(30,165)
904,803
-
1,068,706
1,355,200
1,355,200
338,800
324,300
1,694,000
2,748,206
(1,663,835)
191,195
30,165
2,939,401
-
3,844,204
629,425 730,322 (424,779)
1,067,240
-
-		 15,989
-
-		 (14,523)
-
(14,500)
1,067,240 15,989 (29,023)
159,901 1,742,781 (47,652)
1,227,141 1,758,770 (76,675)
1,856,566 2,489,092 (501,454)

33

The Centre for Innovation in Voluntary Action

Notes to the financial statements

For the year ended 31 December 2020

17 Movement in funds (continued)

Purposes of restricted funds

Alternative Ofsted - Working with young people to explore the prime causes of stress and depression in schools and developing better ways of assessing pupil and school performance.

An Even Better Arbourthorne - A fund to find ways of solving poverty in the UK through a mixture of enterprise, collaboration and cooperation, sharing, community self-reliance and developing new systems and structures for the delivery of services. Transfers back to unrestricted funds represent the return of funds loaned last year.

Better Nature - Working to assist in the transformation of humanity's activities, to restore nature, rather than destroy it. The fund was slightly in deficit at year end, this was redressed early in 2021with the receipt of a grant for £38,737.

Bloody Good Period - A fund designed to address the sanitary and toiletry needs of refugee women.

Chayn - Creates digital solutions and campaigns on violence against women worldwide.

Create Equity - A fund aimed at improving diversity of leadership, creative talent, creative content and audiences in the arts for BAME entrepreneurs and creatives with scalable ideas.

Don't Forget the Bubbles - A group of paediatric doctors seeking to promote good practice around the world.

Farm Fund - An early stage social investment fund being created by CIVA and the Real Farming Trust. We hold donations which will be used to add to the fund once it is set up, and be used to defray costs and cover losses.

Healthpitch/Opera Project - An opera project which brings music to older people in care homes and hospitals.

Intrapreneurs Club - A career development programme for underprivledged young people.

James Davenport Fund - A fundraising campaign for environmental purposes.

Job Design Lab - Working to give people the power to shape their future work by hosting public workshops for people to redesign their jobs in light of their learnings from Covid-19 and to explore the possibilities opened up by new technologies and the green transition.

Make My Mark (originally called A Fighting Chance) - A new project being developed by CIVA to offer opportunities to young people to develop their skills and interests, which will benefit them and their futures.

MSN Peace Fund - a grants fund administered by CIVA, supporting projects working with refugees and promoting community cohesion, mostly in the UK.

Pedal for Purpose - A fundraising campaign to bring solar lighting into African communities.

Roger Ross - Grants for the environment.

Sarah Dodd's Fund - Created in memory of Sarah Dodds, a pioneer of social enterprise, working with UnLtd to provide small loans to early-stage social enterprises. This was primarily represented by the loan to Fair Finance which was converted to a grant having been absorbed in the CIVA:Invests fund.

States of Mind - A fund which addresses the mental wellbeing of young people

Social Enterprise India - A fund to support social enterprise in India

The Chancery Lane Project - Re-wiring legal contracts and laws so they are aligned with climate-related considerations.

Trauma Treatment International - Provides training to refugee camp workers, and psychological support to refugees and displaced people working in countries like Syria and Rwanda.

Urban Mushroom Project - Promoting mushroom growing in urban communities and schools.

34

The Centre for Innovation in Voluntary Action

For the year ended 31 December 2020

Notes to the financial statements

14 Movement in funds (continued)

Year Here - A fund to provide bursaries for a programme for graduates, to develop social enterprise skills through a year-long action-oriented programme, to create solutions to inequality. Year Here also receives support from CIVA:invests.

Purposes of designated funds

CIVA:invests - this represents funds set aside by trustees to be used to fund investments to achieve social impact, and the investments will all be “programme related”, affordable and for a charitable purpose. It is intended that most investments will be made in the form of affordable loans.

Simon Norton Maths Fund - Trustees have agreed that 80% be designated from the Simon Norton legacy towards the Simon Norton Maths Fund for the proposition of mathematics. It is envisaged that this will be applied towards the creation of a national museum of mathematics, probably in Leeds. We are working with a charity called MathsWorld on this.

New Projects Fund - Trustees have agreed that 20% be designated from the Simon Norton legacy towards a new Projects Fund. In 2019 a grant of £14,499.96 was made from this fund to Turn on the Subtitles.

Alternative Ofsted (designated) - Working with young people to explore the prime causes of stress and depression in schools and developing better ways of assessing pupil and school performance. In 2020 Trustees agreed that £7,500 be designated from the New Projects Fund.

Degrees of Opportunity (designated) - Youth engagement programme developing skills, confidence and paths to successful careers for young people. In 2020 Trustees agreed that £25,000 be designated from the New Projects Fund.

COP26 (designated) - A series of programmes and initiatives to encourage youth engagement and action on climate change issues in the run up to the COP26 UN Climate Change conference. In 2020 Trustees agreed to designate £10,000 from the New Projects Fund.

Surplus Food Project (designated) - Reducing food waste by encouraging restaurants and cafes to cook using reclaimed food. In 2020 Trustees agreed to designate £25,000 from the New Projects Fund.

Urban Mushroom Project (designated) - Promoting mushroom growing in urban communities and schools. In 2020 Trustees agreed to designate £10,000 from the New Projects Fund.

Transfers between funds

A number of adjustments were made to funds to account for historic differences that have arisen over a number of years. In addition, a small management fee is applied to a number of funds to cover administrative costs.

18 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

35