Company registration number.. 06754603 Charity registration number.. 1128013 Charitable Giving IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 April 2022
Charitable Giving Contents Trustees, Report 2to6 Statement of Trustees, Responsibilities Independent Auditors, Report 8t011 Statement of Financial Activities 12 Balance Sheet 13 Notes to the Financial Statements 14to22
Charitable Giving Reference and Administrative Details Trustees Mr D A Alcock (Resigned 17 October 20211 Mr P D Armstrong MrCRBBrook Rt. Hon. Lord J P Burnett Mr R P Jones Ci)I P R L Lane (Resigned 27 August 20211 Mrs C Pitcher MrJRSale Mrs J Smart Secretary Mrs J Smart Sgnior Management Tgam Mrs C Mortimore, Chief Executive Officer Mrs S Sherrell, Finance Manager Registered and Principal Office Unil C4 Union Mine Road Pitts Cleave Tavistock Devon PL19 ONS The Charity is incorporated in England and Wales. Company Reglstratlon Number 06754603 Charity Registration Numbgr Sollcltors 1128013 Stephens Scown LLP Osprey House Malpas Road Truro Comwall TR1 1UT Bankers Lloyds Bank 13 Broad Street Launceston Comwall PL15 8AG Auditor PKF Francis Clark Chartered Accountants North Quay House Sutton Harbour Plymouth Devon PL4 ORA Pag8 1
Charitable Giving Trustees, Report The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 30 April 2022. Status The Charity is limited by guarantee, having no share capitsl. It is a registered charity. The Company was incorporated on 20 November 2008 and is bound by its Memorandum and Articles of Association. The Charity became registered with the Charity Commission on 12 February 2009. Principal Activity The principal activity of the Charity during the year was the administration of the distribution of charitable donations for.. 1 Individual donors through the PayToII Giving scheme., 2 Employers in developing their corporate social responsibilities in support of their charitable aims., and 3 Foundations and major corporations in managing the distribution of their charitable funds and donations in an efficient and economical manner. Charity's Objectives The Charity's objectives are the encouragement of the effectiveness and efficiency of charities by promoting and advising upon lax efficient giving, counselling on fundraising strategy and providing fundraising support and administrative services. In order lo achieve its objectives, the Charity will work with employers and charitable organisalions lo.. Introduce and develop the payToII giving scheme., Advise employers on fundraising in the workplace., Assist employers in developing their corporate and community charitable aclivilies., and Provide an efficient and cost effective service for the distribution of charitable donations. Pag8 2
Charitable Giving Trustees, Report Structure and Electlon Process The Board of Trustees, a t)ody of not less than 4, bul with no maximum, controls the Charity. Trustees are elected by a quorum of al least 4 members of the Board of Trustees. In the event of the Charity being wound up, the liability of the members is limited to £10. The Board links governance and management functions through the Chief Executive Officer. All Board authority delegated to the day lo day operational organisalion is delegated through the Chief Executive Officer, so that all authority and accountsbilily for the operational organisalion is considered to belong to the Chief Executive Officer. The Chief Executive Officer has no authority lo make any decisions about any maller that the Board has specifically reserved for itself for decision. Acwrdingly, the Chief Executive Officer must not make decisions without prior Board approval regarding= Strategic issues consideration of any project or venture that involves, or could lead to, a significant alteration of the Charity's risk profile., Financial items- approval of the annual budgets, political donations, charitable donations in excess of £5,000, capital expenditure in excess of £10,000, debt securities, unbudgeled loan facilities, debt factoring, leaselsale back arrangements and approval of the Annual Reports and Financial Statements., Agreements- approving acquisitions, mergers or disposals of any business or subsidiary, regardless of value., Legal Structure- modification to the legal structure of the Charity., Litigation approval of the initiation, conduct and settlement of liligation., Administration and benefits - alleralion of the Charity's accounting date, name or registered office of the Charity and changes to the Memorandum and Articles of Association. Approval of remuneration packages of the Chief Executive Officer, pension right and compensation payments., and Board arrangements - appointment or removal of the Company secretary or directors, establishment of Board Committees and approval of the reference tenms and amendment of any Board policies. Pag8 3
Charitable Giving Trustees, Report Revlew of the Year and Future Developments The Charitable Giving Board of Trustees are pleased to report another extremely positive and successful year despite challenging economic circumstances. Charitable Giving has further increased its portfolio of clients maintaining a highly responsive and efficient service allowing record numbers of new employer clients lo onboard and develop or further enhance their Corporate Social Responsibility Progffimmes. The onset of the Ukraine crisis saw both individuals and employers looking for bespoke and swift solutions lo support the numerous organisations needing urgent help on the ground (both in the UK and across Europe). The team at Charitable Giving were proud lo play a significant part in enabling immediate financial support for charities in the shape of sizeable and specific donations. Payroll Giving distributions figures have held up well. Though the number of donors overall is reducing slightly the average value of a regular donation is rising and in addition many high-end earners are using this lax efficient method of giving lo make large ad hoc donalionlsl for example lo support Special Appeals or local causes close lo their hearts. Charity Accounts continue to be a popular feature and numbers of donors choosing to actively manage their donations this way has risen in line with consumer expectation around online services. As a result, Charitable Giving has an enhanced programme of development and communications lo ensure contact with Charity Account holders is maintained and they are both reminded and encouraged lo distribute any accumulated funds lo chosen beneficiaries. Charitable Giving continues to focus on excellent customer service, best practi, and assuran for clients via accreditation and certification. ISO standards 27001 and 9001 and Cyber Essentials Plus are maintained along with a renewed focus on IT Development and associated business efficiencies - collectively allowing costs lo be kept to a minimum despite rising distribution figures. The team al Charitable Giving remain consistent and responsive to the organisation's COVID exit strategy. The office space is maintained, and a programme of hybrid working is in place to manage employee wellbeing and offer a reliable and continuous personal service for clients. Business and individual performance is guladY reviewed, an online staff training programme has been introduced and the Customer Relationship Management team is being expanded. Despite the Financial Year (FYI 21122 seeing distribution figures in excess of £40M lan approx. 200/0 increase on previous FYI the Board is not complacent with respect to the risk and potential impact of the cost-of-living crisis on individual donations and are mindful that wage inflation and increased utility bills have a direct and unwelcome impact on the charity's oulgoings. Staff retention and recruilmenl is undoubtedly a key focus along with a continuous programme of business efficiency development. In anticipation of increasingly difficult economic circumstances, the Board has added regular and specific Sub Committee Meetings lo the already established quarterly review programme and continues to have a high level of confidence that the Charity will wnlinue as going cOnrn. Pag8 4
Charitable Giving Trustees, Report Recrultment and appolntment of Trustees A programme of rolling retirement from the Board of Trustees has been introduced in anlicipalion of one retirement each Financial Year. Retirements are based on length of service and where there is duplication, retirees are selected based on alphabetical rotation to avoid multiple losses lof skills and experience) from the Board at one time. Trustee recruilmenl is an ongoing agenda item at quarterly Board Meetings and a skills matrix is maintained lo identify strengths and ensure a reasonable level of diversity and relevant experience among members. Trustees are elected by a quorum of at least 4 members of the Board of Trustees. Results The Charity has a surplus of £67,045 {2021.. £30,351) on unrestricted funds for the year. Reserves The policy of the Board is lo sel a level of reserves sufficient to meet the fixed costs of the Charity for a period of three months. The reserves policy will be reviewed annually. The balance of unreslricled funds at 30 April 2022 was £521,596 {2021 £456,008) of which £341,10512021 £268,5701, being the net current assets, is regarded as free reserves. Surplus funds will be used to further the Charity s objectives. Principal Risk and Uncertainties The Trustees of Charitable Giving maintain a risk register which is reviewed quarterfy. The main risks to Charitable Giving are.. 1 IT failure- 2 Property damage., 3 Loss of key personnel., and 4 Financial loss of deposits. The Trustees have established systems and procedures lo alleviate the above by full use of off-site back-up, Ljndersludy personnel and reserved alternative office accommodation. Deposits held on behalf of third parties before distribution are held with recognised UK established banks including some term deposits of no more than 12 months. Financial Risk Management Objectives and Policies The Charills activities expose il to a number of financial, cash flow, and liquidity risks. The Charity has in pla the structure lo manage these risks with varioLJS established banks and through effective budgeting and monitoring of performance. Included in the budget is a capital expenditure budget, which is approved by the Board of Trustees prior to any significant expenditure being incurred. Prlce rlsk. credlt rlsk, Ilquldlty rlsk and cash flow rlsk The Charity's main expense is wages and salaries. Any significant fluclualions in minimum wage, or employment taxes could have a significant impact on the Charity. Salary costs are continually monitored against budget and market rates lo ensure these are aligned. There is little exposure lo credit risk as donations are paid lo Charity beneficiaries once the income has been received from the donor. Cash deposits are held in various accounts lo spread risk. Pag8 5
Charitable Giving Trustees, Report Publlc Beneflt The Trustees confirm that they have complied with the duly of the Charities Act 2011 to have due regard to the Charity Commission for England and Wales's general guidance on public benefit in exercising their power or duties. They have referred to this guidance when reviewing the Charities aims and objectives and in planning ils future aclivilies. Tmstees Mr D A Alcock (Resigned 17 October 2021 } Mr P D Armstrong MrCRBBrook Rl. Hon. Lord J P Burnett Mr R P Jones Col P R L Lane {Resigned 27 August 20211 Mrs C Pitcher MrJRSale Mrs J Smart Disclosure of Infomiation to Auditor Each Trustee has taken steps that they ought lo have taken as a Trustee in order to make themselves aware of any relevant audit infomalion and lo establish that the Charity's auditor is aware of that information. The Trustees confirm that there is no relevant infomialion that they know of and of which they know the auditor is unaware. Small Companies Provision Statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report Was approved by the Trustees of the Charity on behalf by.. 1910812022 and signed on its MrJRSale Trustee Pag8 6
Charitable Giving Statement of Trustees, Responsibilities The TrLJStees (who are also the directors of Charitable Giving for the purposes of company lawl are responsible for preparing the financial statements in accordance with the United Kingdom A¢wunling Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the Trustees lo prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required lo.. select suitsble accounting policies and apply them consislenlly., observe the methods and principles in the Charities SORP-, make judgements and eslimales that are reasonable and prudent; stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any time the financial position of the charitable company and enable them lo 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. Approved by the Trustees of the Charity on 1910812022 and signed on its behalf by: MrJRSale Trustee Pag8 7
Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Opinion We have audited the financial statements of Charitsble Giving Ilhe 'Charily'l for the year ended 30 April 2022, which comprise the Ststemenl of Financial Activities, Balance Sheet, and Notes lo the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Charity's affairs as al 30 April 2022 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII 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 Charity 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 eviden we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng 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 UnrtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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. Pag8 8
Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Other information The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except lo the exlenl olhetwise explicitly slated in our report, we do not express any fom of assurance conclusion thereon. In wnnection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infomialion is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work underiaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the financial stslemenls- and the Trustees, Report has been prepared in accordance with 8ppIic8ble legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees. Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees remuneration specified by law are not made., or we have not received all the infomialion and explanations we require for our audit. Responsibilities of Trustees explained more fully in the Statement of Trustees, Responsibilities Isel out on page 71, the Trustees 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 lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slalemenls, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, mallers related to going concem and using the going concern basis of accounting unless the Trustees either intend lo liquidate the Charity or lo cease operations, or have no realistic alternative bul lo do so. Pag8 9
Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Auditor's rgsponsibilitigs for thg audit of the financial statgmgnts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo 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 IUKI will always detect a material misslatemenl when il exists. Misslalements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatemenls. 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 delecling iegUlaties, including fraud is detailed below.. As part of our audit planning, through discussions with management, we obtained an understanding of the legal and regulatory framework that is applicable to Charitable Giving and the sector in which it operates to identify the key18ws and regulations affecting the charitable company. The key laws and regulations we identified were General Data Protection Regulations IGDPRI. Fundraising Regulations, health and safety laws, and employment laws. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily the Companies Act 2006, the Charities Act 2011, relevant tsx compliance regulations in the UK, and reporting framework Icharilies SORP - FRS 1021. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which may be fundamental the charills ability lo operate or lo avoid a material penalty. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial slalemenls (including the risk of override of conlrolsl and determined that the principal risks related lo fraudulent financial reporting, in particular lo grant funding received. Audit procedures performed by the engagement team include, but were not limited lo, discussions and inquiries with management of Complian with laws and regulations, reviewing the clients laws and regulations file including ISO audit reports, and reviewing Board minutes and significant legal costs incurred in the year. We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was eviden of bias by the Trustees that represented a risk of material misslatemenl due lo fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial slatemenls, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due lo fraud is higher than the risk of not delecling one resulting from error, as fraud may involve deliberrate concealment by, for example, forgery or intentional misrepresentations, or through collLJSiOn. A further description of our responsibilities for the audit of the financial statements is located on the Financi81 Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report. Page 10
Charitable Giving Independent Auditor's Report to the Members of Charitable Giving Use of our report This report is made solely lo the charitable company's Trustees, 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 stale lo the Charity's trustees those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not a¢p1 or assume responsibility to anyone other than the charitable company and its Iruslees as a body, for our audit work, for this report, or for the opinions we have formed. James Barrett (Senior Statutory Audilorl For and on behalf of PKF Francis Clark, Statutory Auditor North Quay House Sutton Harbour Plymouth Devon PL4 ORA Date.. 0510912022 Page11
Charitable Giving Statement of Financial Activities for the Year Ended 30 April 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2022 Total 2021 Note Income and Endowments from: Donations and legacies Charitable activities Investment income 12,577 413,900 7,584 470,115 2,697 470,115 2,697 Total Income 472,812 472,812 434,061 Expenditure on: Charitable activities {405,7671 1405,7671 1403,7101 Total Expenditure 405,767 405,767 403,710 Net income 67,045 67,045 30,351 Net movement in funds 67,045 67,045 30,351 Reconclllatlon of funds Total funds brought forward 456,008 456,008 425,657 Total funds carried forward 18 523,053 523,053 456,008 All amounts shown in the comparative column above relate to unrestricted funds. All of the Charity's activities derive from continuing operations during the above periods. The notes on pages 14 to 22 fomi an integral part of these financial statements. Page 12
Charitable Giving (Registration number: 06754603) Balance Sheet as at 30 April 2022 2022 2021 Note Fixed assets Intangible assets Tangible assets 67,627 209,357 74,918 218,006 12 276,984 292,924 Currgnt assets Debtors Cash at bank and in hand 13 42,776 351,542 46,547 271,319 394,318 317,866 Credltors: Amounts falllng due wlthln one year Net current assets 14 151,7561 149,2961 342,562 268,570 Total assets less current liabilities 619,546 561,494 Creditors: Amounts falling due after morg than one year 15 96,493 105,486 Net assets 523,053 456,008 Funds ofthe Charlty: Unrestricted income funds Unrestricted funds 523,053 456,008 Total funds 18 523,053 456,008 The financial statements on pages 12 to 22 were approved by the Trustees, and authorised for issue 1910812022 and signed on their behalf by.. MrJRSale Trustee The notes on pages 14 to 22 fomi an integral part of these financial statements. Page 13
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 1 Charity status The Charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share Capitsl. Each of the Members are liable to contribute an amount not eXeding £10 towards the assets of the Charity in the event of liquidation. The address of ils registered office is.. Unit C4 Union Mine Road Pitts Cleave T8vislock Devon PL19 ONS The principal pla of business is.. Unit C4 Union Mine Road Pitts Cleave Tavislock Devon PL19 ONS 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all the years presented, unless otherwise slated. Statement of compliance The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities- Stslemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 {Charilies SORP {FRS 102}l. They also comply with the Companies Ad 2006 and Charities Act 2011. Basis of preparation Charitable Giving meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Going concern The Trustees consider that there are no material uncertainties about the Charills ability lo continue as a going concern nor any significant areas of UnrtaintY that affect the carrying value of assets held by the Charity. Accordingly accounts have been prepared on a going concern basis. Page 14
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 Income and endowmgnts The charity acts as agent co-ordinating the raising and distribution of funds from employees and employers to charities for the purpose of section 202 Income and Corporation Taxes Act 1998. Donations received and distributed on behalf of employees and employers are not reflected in the Slalemenl of Financial Aclivilies. Adminislralion services income is recognised in the period in which donations are received and is based on a fixed rale per donor. L)onations and legacies Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfomiance by the Charity before the Charity is entitled lo the funds, the income is deferred and not recognised until either those conditions are fully mel, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period. Expenditure Expenditure is charged on an accruals basis, inclusive of irrecoverable VAT. Charitable expenditure comprises those costs directly incurred in the pursuance of the Charity's charitable aclivily, the administration and promotion of payroll giving schemes. Charitable activities Charitable expenditure comprises those costs incurred by the Charity in the delivery of ils activities and services for ils beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary lo support them. Government grants Grants relating to the Coronavirus Job Retention Scheme are recognised in the period in which the associated wages and salaries expenditure is incurred. Taxation As the Charity is a registered charity and a non-profit making organisation, no tax liability exists on its activities. Intangible fixed assets and amortisation Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives. Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows.. Asset class Other intangible asset Website and bespoke computer programs Amortlsatlon method and rate 15 years slraighl line 330/0, 10Qkn and 6.670/0 Straight line Page 15
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 Tangiblg fixgd assets and dgprg¢iation Fixed assets are initially recorded at cost. Depreciation is provided on tsngible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class Freehold propety Fixtures, fittings and office equipment Computer equipment Depreciation method and rate 50 years slraighl line 25,/0 reducing balance 33V/o Straight line The cost of18nd included in the balance sheet but not depreciated is £19,200. Forelgn exchange Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing al that date. Fund structure Unrestricted income funds are general funds that are available for use al the Trustees's discretion in furtherance of the objectives of the Charity. Leaslng commltments Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term. Pensions and other post retirernent obligations The company operates a defined contribub'on pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Financial instruments ClassifiTcation 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 al their settlement value. Page 16
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 3 Income from donations and legacies Total 2022 Total 2021 Donations and legacies., Donations from individuals Grants, including capital grants., Government grants 1,500 11,077 12,577 4 Income from charitable activities Unrgstridgd Total 2022 Total 2021 Ggngral Adminislralion service income 470,115 470,115 413,900 Funds recelved as agent 2022 2021 Amounts held al start of period Amounts received 7,664,177 7,026,857 44,010,900 34,726,652 142,158,531 } 134,089,332) Amounts paid out to charities Amounts held al end of period 9,516,546 7,664,177 5 Investment income Unrestricted funds General Total 2022 Total 2021 Other income from fixed asset investments 2,697 2,697 7,584 Bank interest includes interest eamed on monies held for clients, awaiting distribution to their chosen eharilies. These client balanS are not the propety of Charitable Giving and are therefore not included as assets in the balance sheet. Page 17
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 6 Expenditure on charitable activities Unrestrlcted funds General Total 2022 Total 2021 Wages and salaries Systems development and support Depreciation Governance costs Other costs 299,889 22,540 20,892 9,618 52,828 299,889 22,540 20,892 9,618 52,828 283,298 31,043 22,331 13,340 53,698 405,767 405,767 403,710 7 Trustees remuneration and expenses During the year the Charity made the following transactions with Trustees.. No Trustees, nor any persons connected with them, have received any remuneration from the Charity during the year. No Trustees reiVed reimbursement of travel and subsislen¢e expenses in the Current year {2021'. No Trustees received expenses). No trustees have received any other benefits from the charity during the year. 8 Staff costs The aggregate payroll costs were as follows.. 2022 2021 Staff costs during the year were: Wages and salaries Social security costs Pension costs 268,290 18,333 13,266 256,117 14,503 12,678 299,889 283,298 The monthly average number of persons {including senior management team) employed by the Charity during the year was as follows- 2022 2021 Employees 12 Page 18
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management personnel of the Charity were £106,748 12021 £100,575). 9 Auditors. remuneration 2022 2021 Audit of the financial statements 8,600 8,000 10 Taxation The Charity is a registered charity and is therefore exempt from taxation. 11 Intangible fixed assets other intsngible asset Website and bespoke software Total Cost Al 1 May 2021 Additions 50,000 228,526 2,393 278,526 2,393 AI 30 April 2022 50,000 230,919 280,919 Amortisation Al 1 May 2021 Charge for the year 40,015 3,336 163,593 6,348 203,608 9,684 AI 30 April 2022 43,351 169,941 213,292 Net book value AI 30 April 2022 6,649 60,978 67,627 AI 30 April 2021 9,985 64,933 74,918 Other intangible asset The carrying amount of this asset is £6,64912021 £9,985) and the remaining amortisalion period is 2 years 12021 3 years). Other intangible assets are represented by the rights to payroll giving contracts acquired from the Federation of Master Builders (South West Region) Charitable Fund. Page 19
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 Dgvglopmgnt costs Development costs have been capilalised in accordance with FRS 102 Section 18 Intangible Assets other than Goodwill and are therefore not treated as a deficit to the Charity. 12 Tangible fixed assets Land and Furniture and buildings equipment Total Cost Al 1 May 2021 Additions 297,971 109,883 2,559 407,854 2,559 AI 30 April 2022 297,971 112,442 410,413 Depreciation Al 1 May 2021 Charge for the year 91,327 5,580 98,521 5,628 189,848 11,208 AI 30 April 2022 96,907 104,149 201,056 Net book value AI 30 April 2022 201,064 8,293 209,357 AI 30 April 2021 206,644 11,362 218,006 13 Debtors 2022 2021 Trade debtors Prepayments Accrued income 31,454 9,692 1,630 34,726 10,191 1,630 42,776 46,547 Page 20
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 14 Creditors: amounts falling due within one year 2022 2021 Bank loans Trade creditors Other taxation and social security Accruals and deferred income 8,711 6,283 5,297 31,465 8,530 4,516 5,226 31,024 51,756 49,296 Bank borrowlngs The bank loan is denominated in sterling with a nominal interest rale of 3.15'/0 above base rate, and the final instalment is due on 23 March 2032. The Carrying amount at year end is £105,20412021 £114,016). Security is given via a 1 st Legal Charge on the freehold land and buildings to which the loan relates. 15 Creditors: amounts falling due after one year 2022 2021 Bank loans 96,493 105,486 Included in the creditors are the following amounts due after more than five years.. 2022 2021 After more than five years by instalments 57,054 67,459 16 Penslon and other schemes Defined contribution pension scheme The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity lo the scheme and amounted lo £13,266 12021 £12,678). Page 21
Charitable Giving Notes to the Financial Statements for the Year Ended 30 April 2022 17 Commitments Annual charges for operating leases which expire.. 2022 2021 Not later than one year Later than one year and not later than five years 6,153 7,018 13,171 6,609 10,339 16.948 18 Funds Balance at 1 May 2021 Incoming resources Resources expended Balance at 30 April 2022 Unrestricted funds Unrestricted general funds 456,008 472,812 1405,7671 523,053 Balance at 1 May 2020 Incoming resources Resources expended Balance at 30 April 2021 Unrestri¢tgd funds Unrestricted general funds 425,657 434,061 403,710 456,008 19 Related party transactions During the year the Charity made the following related party transactions.. Company related to trustee During the year Charitable Giving paid fees of £2,277 12021 £10,257) to the company for the purchasing of insurance. Al the balance sheet dale the amount due to TH March & Co Ltd was £Nil 12021 - £2,277). Company related to trustee During the year Charitable Giving paid consultancy fees of £2,43012021 £3,640) to the company for Human Resources and compliance advice. Al the balance sheet date the amount due to Stephens Scown was £12612021 - £Nill. Company related to trustee During the year Charitable Giving paid fees of £Nil 12021 £4,560) lo the company in relation lo recruitment fees. At the balan sheet dale the amount due to Round Table Recruitment Ltd was £Nil 12021 £Nill. Page 22