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← Charity Digital Trust

2024-03-31-accounts

Company number: 06902258 Charity number: 1133179 Charity Digital Trust

Report and financial statements For the year ended 31 March 2024

Charity Digital Trust

Contents

For the year ended 31 March 2024

Reference and administrative details .............................................................................................. 1 Trustees’ annual report .................................................................................................................. 2 Independent auditor’s report ....................................................................................................... 14 Consolidated statement of financial activities .............................................................................. 19 Balance sheets .............................................................................................................................. 20 Consolidated statement of cash flows .......................................................................................... 21 Notes to the financial statements ................................................................................................. 22

Charity Digital Trust

Reference and administrative details

For theyear ended 31 March 2024
Registered name Charity Digital Trust (formerly Tech Trust)
Trading names Charity Digital
Company number 06902258
Country of incorporation England and Wales
Charity number 1133179
Principal office Pennine Place
2a Charing Cross Road
London WC2H 0HF
Registered office Camburgh House, 27 New Dover Road
Canterbury, CT1 3DN
Trustees Ms C Tavernier
Mr S Dunne
Ms Z Amar
Ms E MacKenzie
Mr R George
Mr R Taylor
Mr J Nathenson
Mr J Tan (Appointed 19thJune 2023)
Ms C Garbett (Appointed 19thJune 2023)
Accountants Burgess Hodgson
Camburgh House, 27 New Dover Road
Canterbury CT1 3DN
Bankers NatWest Bank plc
The Strand
London WC2N 5JB
Solicitors Wright Hassall LLP
Olympus Avenue
Royal Leamington Spa
CV34 6BF
Auditors Sayer Vincent LLP
Chartered Accountants and Statutory Auditors
110 Golden Lane
London EC1Y 0TG

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Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

The trustees are pleased to present their annual directors' report together with the consolidated financial statements of the charity and its subsidiaries for the year ending 31 March 2024 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).

Our purposes and activities

The charity and its subsidiaries derive most of their income from trading activities offering products and services to other not-for-profits, either delivering significant cost savings, unique products or levels of support unavailable elsewhere. The trustees have considered this trading position with respect to the Charities SORP, FRS102 and the Charity Commission's guidance on public benefit including:

The trustees are clear that the trading activity model delivers significant benefit to not-for-profits that could not be delivered by a commercial organisation, and that the charity, whilst run on a trading basis, has clear charitable impact objectives which can be quantified and publicly reported.

We have four primary vehicles to deliver our impact:

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Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Our values

We believe technology used in the right way and to the right extent can be enormously beneficial to society as a whole. We want technology to be fully utilised for the benefit of not-for-profits and their beneficiaries. Charity Digital Trust (Charity Digital) believes it can do this as a charity trading in a commercial way through collaboration with the technology community whilst maintaining a balanced and agnostic view on the choice of solutions.

We aim to be friendly, honest, supportive, open-minded and humble in our approach to supporting UK not-for-profits.

Achievements and performance

Overall, the year 2023/24 was our second year of significant financial challenge as the organisation continued to struggle with realigning its activities and cost base after the end of the Microsoft onpremise donation programme (April 2022), several years of inflationary pressures on the charity’s cost base and significantly reduced grant funding.

In response to these challenges, the organisation focused on a tighter subset of strategic initiatives:

However, given the tighter funding environment, this means being highly targeted in deciding which organisations to engage with.

There were also two significant changes to stop activity. One was the decision to stop investing in the capability to deliver grant-based education programmes -though the organisation will still tactically pursue and deliver grant-funded activity where it is well aligned with existing resources and capabilities. The other was to withdraw from the provision of managed services. This was

3

Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

because we found that our delivery models are uneconomic for the prices smaller organisations will pay and other organisations are better positioned to support the larger not-for-profits.

Our central purpose has essentially remained the same – helping not-for-profits throughout the UK adjust to and embrace the opportunities and challenges of an increasingly digital world. We continue to focus on three areas to progress our purpose:

The achievements of the charity are significant, delivering:

As a trading charity we have historically generated enough income from activities to sustain the charity and add to reserves for the future, however, a drop in income and expenditure on strategic investments resulted in a planned deficit in 2022/23. These investments continued into 2023/24, but when it became clear that in the current environment, these investments were not delivering the returns expected, with new grants not being won, weaker support from sponsors and significantly reduced validation revenues, a rapid programme of cost reduction was undertaken. This brought the charity back to break-even at the end of the financial year but resulted in a deficit across the year of £305k (2022/23 £334k deficit) on annual revenue of £1.9m (2022/22 £2.2m). Cash reserves now stand at over £0.7m.

4

Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Software and Related Services – Charity Digital Exchange

We have been operating the donation programme in the UK since 2006 in close collaboration with our partner TechSoup in the USA. Software partners like Microsoft, Adobe and AWS, and hardware providers like Cisco, make their products available to us. We then give eligible not-for-profits access to those products at no cost or heavily discounted prices, charging an administration fee for each product taken, which funds the eligibility assessment, marketing and customer support.

In 2023/24 4,662 (2022/23 7,024) not-for-profits received a donation from the exchange programme, generating administration fees for Charity Digital of £462k (£459k in 2022/23), cumulatively saving not-for-profits around £4m (2022/23 £4m) versus fair market value. During the year, 4,526 new not-for-profits registered (3,800 in 2022/23) and became eligible to receive donated software. By the financial year-end, a total of 85,000 not-for-profits had registered on the programme since 2006, saving a total of around £292m in procurement costs.

Despite 2023/24 being the first full year after the end of the Microsoft on-premise donation programme and the charity sector as a whole remaining under acute financial pressure it was pleasing that we were able to maintain the total level of admin fees. We were also able to deliver significant growth in sales of Microsoft products which are no longer donated, but instead offered at discounted rates. We believe our overall growth in admin fees and software sales was significantly due to our customer service approach which is focused on helping charities by providing them with free-of-charge advice and guidance. In addition, towards the end of the year, we were able to add the Meta Quest device to the catalogue at a highly discounted price. This generated strong demand. Overall we continue to monitor not-for-profit satisfaction and value for money when using the Exchange programme through Trust Pilot. We have consistently maintained a 5-star rating and have an ongoing programme of improvement to address any specific issues and complaints.

Since 2006 we have built considerable experience validating UK not-for-profits for access to discounted technology on the Exchange. We have provided bespoke validation services to various businesses including Microsoft, for Microsoft 365. This has accelerated the number of not-forprofits we interact with, especially the larger ones. During 2023/24 7,786 (2022/23 9,992) notfor-profits registered for these supplementary services. This was a significant decline from 2022/23, driven significantly by Google’s decision to move its validation service to a competing commercial business that purely focuses on cost. TechSoup also lost several other smaller validation contracts in the year and this also impacted product validation revenues. Finally, product validation revenues will drop further in 2024/2025 as the pricing of some contracts has been reduced to retain business. A secondary aspect of our validation work is validating recipients, based outside the US, of grants from US-based trusts and foundations. To comply with US tax laws and regulations, it is important to demonstrate that any non-US not-for-profits in receipt of grant funds are equivalent to a US public charity. In 2023/24 activity dropped significantly in this area too as some US funders paused their activity whilst undertaking strategic reviews.

Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Software and Related Services – Charity Digital Mail

We bulk buy millions of e-mails each month from dotdigital, a specialist marketing automation provider, and then pass the volume discount we achieve back to the not-for-profits. They can send out templated and branded e-mails to their donors, supporters and service users via a whitelabelled dotdigital platform. To ensure that not-for-profits can get the maximum impact from the platform, we provide initial technical training and ongoing support and training including knowhow on improving open rates and click-throughs.

In 2023/24, we sent over 48 million e-mails on behalf of UK not-for-profits (49 million 2022/23). We have a 93% customer retention rate and recruited 24 new clients last year, more than replacing the 9 we lost. The slight decrease in the total number of emails sent was due to some of the accounts lost being larger than the new ones recruited.

Information and Education Services – Advertiser-Funded Activity

We know from our many years of experience that not-for-profits struggle to keep pace with changing technology and are quite often daunted by the prospect of IT-related projects. Our information and education platform, previously known as CDN but migrated to our new Affino platform in March 2020, was created to provide a unique daily feed of case studies and helpful advice, aiding not-for-profits in achieving more with digital tools.

In the second half of the 2022/23 financial year, we undertook user research to understand better the needs of not-for-profit users and how they wish to interact with our content. This resulted in changes in 2023/24 which have led to significant increases in page views on the platform, rising to 2.8m (1.8m in 2022/23). In 2023/24 consumption of video content continued to increase with 17,120 views (15,382 in 2022/2023), however total podcast listens and webinar participants reduced as we decreased the number of podcasts and webinars in the year, in response to the tightening finances of the Charity. Podcasts generated 13,515 listens (17,190 in 2022/23) and webinars generated 12,350 participants (15,366 in 2022/23).

With our conference activity in 2022/23 not generating the level of support seen pre-pandemic, major venue increasing their prices significantly and reduced internal resources we decided to move away from large-scale in-person events in 2023/24. Instead, we pivoted to smaller and more focused events which can be run with less effort and at lower cost, but still deliver significant impact and contribute to the organisation’s finances. In March 2024 this took the form of the Charity Digital Workshops: Transform and Thrive Day which saw eight workshops delivered from four streams: Marketing, Fundraising, Artificial Intelligence and Strategy and Leadership. Attendance was capped at 100 people. This proved a successful experiment and was then used in the design of other inperson events in 2024/25.

2023/24 saw the return of our ever-popular Digital Fundraising Day – now re-branded as the Digital Fundraising Summit and with a focus on the Future of Fundraising. This year saw record attendances with 1,175 participants logging on over the two days of the event to benefit from twelve sessions and two workshops covering different aspects of fundraising. The continuing success of this event proves the durability of virtual events post-pandemic.

6

Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Our information and education services have traditionally been funded from advertising, sponsorship and lead generation campaigns delivered for a mixture of large corporate and focused niche suppliers to the not-for-profit market. With the significant scaling back of the event programme total sponsorship revenues for 2023/24 were lower at £426k (2022/23 £636k). However, with an expanded event programme, we anticipate modest growth in sponsored revenues in 2024/25.

Information and Education Services – Grant Funded

As was reported in the 2022/23 accounts funding from trusts and foundations for infrastructure organisations and digital initiatives has decreased as they have focused funding on front-line service organisations. This hit the charity hard in the 2023/24 year with the level of grant-funded activity undertaken by the charity reducing to £126k (2022/23 £237k). In the year, grant activity was focused on the Accelerating Digital Strategy programme that is funded by the Okta for Good Fund via the TIDES Foundation. The programme focuses on supporting charities to develop and embed a digital strategy, working with leadership teams with a structured approach, the use of practical tools and mentoring support. 2023/24 saw the completion of the second year of delivery of the programme and the start of work to scale up the impact to more charities.

Charity Digital also received funding pledges in the 2023/24 year towards a new project to update the Charity Digital Code of Practice, of which Charity Digital is the custodian. The funding was short of the target to start the project, but further funding was received after the financial year-end and the project started in October 2024.

Settlement Services

CTT Charity Payments has continued to deliver its Direct Debit processing solution principally for UK lotteries and to a lesser extent to support regular giving. Around 156,000 direct debits a month were processed which was unchanged from 2022/23. The aim is to continue to offer the lowestcost solution available to maximise the proportion of ticket proceeds and donations going to each charity.

Fund Raising

The Charity is funded through commercial activity and grants received from funding organisations. We do not raise funds from the general public.

Financial review

The consolidated unrestricted fund position as of 31 March 2024 is £221,515 compared with £514,432 as at 31 March 2023. Consolidated income of £1,917,980 reduced from the 2022/23 figure of £2,200,384 whilst total expenditure was at £2,223,188 versus £2,534,846 in the previous year.

The excess of expenditure over income in the year has led to a decrease in funds carried forward at year-end to £304,679

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Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Reserves policy and going concern

The reserves policy aims to ensure that the charity (and group) has sufficient reserves to continue its core activities of providing services to the charity sector, even when there are significant deviations from its business plans. The level of reserves is further considered in the context of approved contingent charity activities investment. The level of reserves needed to achieve this objective is reviewed on an annual basis, and for the 2022/23 financial year, the target level was held in line with the policy at a target of £200,000. This target of free reserves is calculated as being Net Assets less Fixed Assets. This free reserves target was reviewed specifically by the Board at its full board meeting in March 2022 and deemed to be sufficient.

In conducting this review, a number of factors are considered including the degree of risk associated with future income streams, the level of fixed costs and forecast cash flow requirements.

At year-end, the amount of unrestricted funds to be carried forward was £221,515. Using the calculation of Net Assets less Fixed Assets as above, unrestricted free reserves at 31 March 2024 were £304,679 thereby exceeding the free reserves target of £200,000. With the reserves significantly reduced the charity introduced a number of cost-saving measures in 2023/24 and sharpened its strategic focus to a smaller number of the initiatives which were delivering the most significant results. The cost saving measures (including headcount and overhead reductions) are delivering ongoing benefits and we expect to close the financial year ended 31[st] March 2025 with a significantly reduced deficit. Our budget for the year is for a break-even position and we will take further measures to reduce costs as necessary. We will also maintain focus on maintaining and growing revenues. Looking forward to January 2026 we believe that the Charity will continue to be a going concern.

The Financial Sub-Committee will continue to review the financial situation carefully regularly, identifying risks and potential remedies versus the monthly re-forecasting.

The trustees are confident that the activities contained within the subsidiary, CTT Charity Payments Limited, continue to provide value to the charity, both in terms of its complementary activity and benefit to the charity and charitable impact to the charity community. A small profit has been forecast for the coming year, and future years will deliver similar if not higher excess funds for use in the charity. It should also be noted that included in the subsidiary’s forecast profit expected in the next financial year are apportionments of fixed cost and expense incurred in, and recharged by, the charity to the subsidiary, which would not be avoided should the subsidiary be closed. As in previous years, the provision for intercompany indebtedness in the charity has been adjusted to reflect the amount outstanding as of 31 March 2024 and provided for in full as of that date and the trustees will continue to review this position in the future.

8

Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Plans for future periods

The organisation’s key challenge is generating a sufficient surplus to fund its overheads. Declines in revenue and margin therefore have a significant impact on Charity Digital’s finances. However, in 2024/25 the organisation is continuing to exercise tight cost control and restructuring where opportunities to make further savings are identified. In addition, the organisation is working hard on revenue growth opportunities.

As outlined earlier the organisation, with limited funds for investment in revenue growth opportunities need to be self-funding. Two key areas identified for potential growth are through further expansion of small in-person events and through the Charity Digital Academy.

The Charity Digital Academy was piloted early in 2024 and focuses on providing detailed education on key digital topics such as AI for non-profits, social media and Microsoft 365 Administration. The education goes into more detail than that typically provided through our sponsored activity or in event sessions and is funded by charging a modest fee per head attending. The Academy has been well received and the financial model described is able to cover costs and contribute to overheads.

We also see key needs to address in the sector relating to artificial intelligence; digital leadership, governance and digital strategy; cyber-security; and supporting the digital needs of smaller charities and are exploring ways of making more impact in these areas and securing the income to fund our activity in these areas.

The Charity Digital Code of Practice 2025 update is progressing, encompassing a number of these themes and once the update is released we hope that this might unlock further revenue growth opportunities as well as delivering significant impact. We are also exploring the options for scaling up the Digital Strategy Accelerator.

9

Charity Digital Trust

For the year ended 31 March 2024

Trustees’ annual report

Principal risks

Our approach to risk management and control is described on page 10. Following review by the Trustees, the principal risks and uncertainties facing Charity Digital and its subsidiaries are listed here, together with a summary of our approach to managing those risks.

Risk Our Response
Financial Challenge
We operate in a dynamic environment and the
viability of our business model cannot be
assumed to continue. In addition, we are
exposed to the impact of the broader
economic environment on our customers.		 We keep our business performance under
constant review. We are actively seeking to
both grow our existing revenue streams and to
seek new avenues for the generation of
income.
People and Culture
Current market conditions mean that it may be
difficult for the charity to recruit and retain the
right calibre of staff and hence achieve its
strategic goals.		 We place significant emphasis on ensuring our
employees feel connected to the charity and its
mission.
We aim to maintain a remuneration package
that is competitive within our sector including
aperformance-linked bonus scheme.
Internal Factors
Our activities are highly dependent upon our
I.T. systems and in common with other
organisations cyber threats are a serious risk.		 Our IT environment and systems are overseen
by a dedicated resource. The security of our
systems and our plans to ensure the continuity
of operations are kept under review.

Governing document

Charity Digital Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 05 October 2018. It is registered as a charity with the Charity Commission in England and Wales.

Leadership induction and training

New trustees undergo an orientation meeting regarding their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and to inform them of the content of the Memorandum and Articles of Association, decision-making processes, the strategy, the business plan, the budgets and recent financial performance of the charity. An induction document is updated annually.

10

Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Leadership

During the year the charity had up to 9 voluntary trustees that met formally four times to review the operations and strategy of the charity and its subsidiary and provide guidance and support to management. The trustees continue to delegate the day-to-day operational decision-making to the Chief Executive and the directors of CTT Charity Payments Limited (CTTCP).

Charity Code of Governance

The Trustees are guided by the principles of the Charity Code of Governance. The composition of the Board is reviewed regularly to ensure that the right mix of skills is present to guide the charity. Throughout the charity equality, diversity and inclusion is a guiding principle and the Board reviews the composition of our team regularly both in terms of composition and remuneration. The Board works closely with management through several sub-committees which help to ensure that the right decisions are taken to advance the mission of the charity. The adequacy of the internal control environment is monitored by the Risk Committee each quarter and reported to the Board.

Related parties and cooperation with other organisations

None of our trustees receive remuneration or other benefits from their work with the charity. However, some of the trustees own or manage companies that the charity partners with and any payments to those organisations for services are logged on the conflict-of-interest register. Any new potential conflicts are declared at each board meeting

Pay policy for senior staff

All trustees give of their time freely and none have received remuneration in the year (2022/23: £Nil)

The pay of the staff is reviewed annually and normally increased in accordance with average earnings and a view on the cost of living.

The CEO salary is reviewed annually by the trustees benchmarking against levels in other charities, social enterprises and commercial organisations. The salary of the CEO was last reviewed in April 2024 at the same time as other staff members.

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Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

Risk management

The Trustees are responsible for identifying and managing the major risks facing the charity. Trustees regularly consider risk management in a broad and strategic manner, considering all relevant internal and external factors that might alter or undermine the capacity of the charity to fulfil its charitable objectives, its mission and its strategy. Risk registers provide comprehensive assurance of the following areas of risk and control:

Our risk review process assesses each of the major risks and the effectiveness of the arrangements for managing them. The resulting report is reviewed by the Risk Subcommittee and Trustees every quarter and in greater depth once each year. The Risk Appetite statement is also reviewed by the Trustees annually. The Trustees are satisfied that the principal risks have been identified and are being effectively managed.

To ensure our future viability we continue to employ continuous improvement principles in operational and financial areas with a specific focus on being more effective and efficient at what we do whilst having the lowest cost levels possible. We have introduced several digital solutions to facilitate this whilst focussing on supplier cost reduction.

The trustees are confident that the risks and safeguards contained in the risk assessment have been properly documented and addressed over the course of the financial year. In addition, the trustees have reviewed the internal controls within the charity and its subsidiaries to ensure that they were operating effectively throughout the year as well as ensuring that they will safeguard the assets of the charity.

Trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing the report of the trustees and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

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Charity Digital Trust

Trustees’ annual report

For the year ended 31 March 2024

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and the group and hence 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.

Statement as to disclosure to our auditors

In so far as the trustees are aware at the time of approving the report of the trustees:

By order of the board of trustees

Claire Tavernier (Chair) 3 February 2025

13

Independent auditor’s report

to the members of Charity Digital Trust

For the year ended 31 March 2024

Opinion

We have audited the financial statements of Charity Digital Trust (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2024 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of 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).

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 group financial statements section of our report. We are independent of the group and parent 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 Charity Digital Trust'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.

14

Independent auditor’s report

to the members of Charity Digital Trust

For the year ended 31 March 2024

Other Information

The other information comprises the information included in the trustees’ annual report, other than the group 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 group 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 group 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 group 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 group and the parent charitable company and their 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 and Charities Act 2011 requires us to report to you if, in our opinion:

15

Independent auditor’s report

to the members of Charity Digital Trust

For the year ended 31 March 2024

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 parent 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 group’s and the parent 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 group or the parent 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

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

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:

16

Independent auditor’s report

to the members of Charity Digital Trust

For the year ended 31 March 2024

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.

17

Independent auditor’s report

to the members of Charity Digital Trust

For the year ended 31 March 2024

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 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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.

Joanna Pittman (Senior statutory auditor) 4 February 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor,

110 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

18

Charity Digital Trust

Consolidated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2024

For theyear ended 31 March 2024
Note
Income from:
2,3
Reconciliation of funds:
18
Total funds brought forward
Total funds carried forward
Net movement in funds
Total expenditure
Charitable activities
Software and related services
Information and education services
Settlement services
Other
Total income
Expenditure on:
Grants
Charitable activities
Software and related services
Information and education services
Settlement services
Other		 Unrestricted
£
46,435
1,184,507
426,356
172,548
8,201		 Restricted
£
79,933
-
-
-
-		 2024
Total
£
126,368
1,184,507
426,356
172,548
8,201		 Unrestricted
£
25,476
1,155,390
636,361
163,640
8,335		 Restricted
£
211,182
-
-
-
-		 2023
Total
£
236,658
1,155,390
636,361
163,640
8,335
1,838,047 79,933 1,917,980 1,989,202 211,182 2,200,384
1,125,441
852,075
132,032
21,416		 92,225
-
-
-		 1,217,666
852,075
132,032
21,416		 988,829
1,179,201
117,417
53,712		 195,687
-
-
-		 1,184,516
1,179,201
117,417
53,712
2,130,964 92,225 2,223,189 2,339,159 195,687 2,534,846
(292,917)
514,432		 (12,292)
95,456		 (305,209)
609,888		 (349,957)
864,389		 15,495
79,961		 (334,462)
944,350
221,515 83,164 304,679 514,432 95,456 609,888

There were no other recognised gains or losses other than those stated above. All activities are continuing. Movements in funds are disclosed in note 19 to the financial statements.

19

Charity Digital Trust

Balance sheets

Company no. 06902258

As at 31 March 2024

As at 31 March 2024
Balance sheets		 Company no. 06902258 Company no. 06902258
Note
Fixed assets:
9
Current assets:
12
Liabilities:
13
15
18, 19
Total assets less current liabilities
Debtors
Funds:
Restricted income funds
Unrestricted general funds
Creditors: amounts falling due within one year
Net current assets
Total net assets
Creditors: amounts falling due after one year
Cash at bank and in hand
Short term deposits
Tangible assets
Total funds		 2024
2023
£
£
-
-
-
-
209,338
291,984
94,718
174,719
607,221
773,986
911,277
1,240,689
(606,598)
(630,801)
304,679
609,888
304,679
609,888
-
-
304,679
609,888
83,164
95,456
221,515
514,432
304,679
609,888
The group		 2024
2023
£
£
-
-
-
-
488,123
636,764
94,719
174,719
416,310
618,164
999,152
1,429,647
(425,043)
(548,092)
574,109
881,555
574,109
881,555
(326,513)
(447,446)
247,596
434,110
83,164
95,456
164,432
338,654
247,596
434,110
The charity
-
209,338
94,718
607,221		 -
291,984
174,719
773,986		 -
488,123
94,719
416,310		 -
636,764
174,719
618,164
911,277
(606,598)		 1,240,689
(630,801)		 999,152
(425,043)		 1,429,647
(548,092)
304,679 609,888 574,109 881,555
304,679
-		 609,888
-		 574,109
(326,513)		 881,555
(447,446)
304,679 609,888 247,596 434,110
83,164
221,515		 95,456
514,432		 83,164
164,432		 95,456
338,654
304,679 609,888 247,596 434,110

Approved by the trustees on 3 February 2025 and signed on their behalf by

Claire Tavernier Chairman of the Trustees

20

Charity Digital Trust

Consolidated statement of cash flows

For the year ended 31 March 2024

For the year ended 31 March 2024 For the year ended 31 March 2024 For the year ended 31 March 2024
Note
£
£
20
(246,765)
80,000
80,000
(166,765)
773,986
607,221
g
Cash flows from operating activities
Net cash used in investing activities
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
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
Amounts placed on short term deposit
2024		 £
£
(744,270)
(4,671)
(4,671)
(748,941)
1,522,927
773,986
2023
(166,765)
773,986		 (748,941)
1,522,927
607,221 773,986

21

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies

a) Statutory information

Charity Digital Trust is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address is Camburgh House, 27 New Dover Road, Canterbury CT1 3DN and its main place of business is Pennine Place, 2a Charing Cross Road, London WC2H 0HF.

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.

These financial statements consolidate the results of the charitable company and its wholly-owned subsidiary CTT Charity Payments Limited on a line by line basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

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 and meet its liabilities as they fall due. The financial position is reviewed reguarly and cost saving measures are taken where necessary. Our annual budget is set to at least a breakeven position and corrective actions are taken should actual results fail to meet this expectation.

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 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.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. Such deferment is also applied to grants and donations until those services for which the grant or donation was made, have been provided.

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.

22

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

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.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

i) Allocation of support costs

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, based on estimates of activity and/or staff time, of the amount attributable to each activity.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on either staff time or turnover creating the following ratios:

Support % Governance %
Software and related services 18 53
Marketing services 45 28
Settlement services - 7
Other - 12
Governance 37 -

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.

j) Operating leases

The Charity had no operating leases or rentals in the financial period other that of a short term lease for accommodation (shown in Note 21 below); the cost of which is charged as it is incurred on a straight line basis.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £200. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

3 years 3 years

23

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

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.

m) Cash at bank and in hand

Cash at bank and cash in hand only includes balances held in accounts with instant access.

n) Short term deposits

Short term deposits includes cash balances that are invested in accounts with maturity dates of greater than 90 days.

o) Creditors and provisions

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.

p) 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.

q) Pensions

The Charity operates a contribution pension scheme which is available to all members of staff. The Charity contributes a fixed 5% (2023:5%).

24

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

2 Analysis of expenditure (current year)

Staff costs (Note 5)
Cost of sales
Other staff related costs
Marketing
IT and transaction cost
Consultancy, legal & prof.
Auditors remuneration
Accommodation and office
Financing and Interest
Depreciation and amort.
Insurance
Other
Support costs
Governance costs
Total expenditure 2024
Total expenditure 2023
Charitable activities
Charitable activities
Charitable activities		 Other
£
-
-
-
-
-
-
-
-
-
-
-		 Governance
costs
£
252,548
-
5,465
-
-
-
13,500
-
-
-
-		 Support
costs
£
-
-
-
-
-
39,465
-
60,301
1,330
-
23,713
21,400		 2024
Total
£
1,022,457
840,123
22,063
58,545
98,759
55,525
13,500
65,773
1,330
-
23,713
21,400		 2023
Total
£
1,081,120
1,000,561
50,312
69,423
66,719
100,526
13,500
94,386
-
34,884
18,307
5,107
Software &
related
services
£
236,187
595,120
5,091
58,545
98,759
-
-
-
-
-
-		 ~~Information~~
and
Education
services
£
533,722
161,417
11,507
-
-
770
-
-
-
-
-		 Settlement
services
£
-
83,586
-
-
-
15,290
-
5,472
-
-
-
104,348
-
27,684
132,032
133,849
993,702
33,741
190,223		 707,416
76,254
68,406		 -
-
20,275		 271,513
36,215
(306,588)		 146,209
(146,209)
-		 2,223,188
-
-		 2,534,846
-
-
1,217,666 852,075 20,275 1,140 - 2,223,188 2,534,846
1,184,516 1,162,770 52,054 1,657 - - 2,534,846

25

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

3 Analysis of expenditure (prior year)

Analysis of expenditure (prior year) year) year)
Staff costs
Cost of sales
Other staff related costs
Marketing
IT and transaction cost
Consultancy, legal & prof.
Auditors remuneration
Accommodation and office
Financing and Interest
Depreciation and amort.
Insurance
Other
Support costs
Governance costs
Total expenditure 2023		 Charitable activities Other
£
-
-
-
-
-
-
-
-
-
-
-		 Governance
costs
£
381,509
-
18,448
-
-
-
13,500
-
-
-
-		 Support
costs
£
-
-
-
-
-
45,147
-
88,914
-
34,884
18,307
5,107		 2023
Total
£
1,081,120
1,000,561
50,312
69,423
66,719
100,526
13,500
94,386
-
34,884
18,307
5,107
Software &
related
services
£
193,381
556,191
9,224
69,423
66,719
-
-
-
-
-
-		 Restated
Information
and
Education
services
£
506,230
368,470
22,641
-
-
38,895
-
-
-
-
-		 Re stated
Settlement
services
£
-
75,899
-
-
-
16,484
-
5,472
-
-
-
97,855
-
35,994
133,849
894,938
35,266
254,311		 936,236
86,562
139,972		 -
-
52,054		 413,457
70,352
(482,331)		 192,359
(192,359)
-		 2,534,846
-
-
1,184,516 1,162,770 52,054 1,657 - 2,534,846

The prior year comparatives are restated to correct the classification of a portion of Cost of Sales. The impact is to increase Information and Education services cost of Sales by £144,375 and reduce Settlement services cost of sales by an equivalent amount.

26

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

This is stated after charging / (crediting):

2024 2023
£ £
Depreciation - 33,461
Operating lease rentals:
Property 64,907 92,853
Auditors' remuneration (excluding VAT):
Audit - group 13,500 13,500
Audit subsidiary - 3,750
Other services p y 1,025 1,025
Foreign exchange losses/(gains) 1,330 6,988

Staff costs were as follows:

Staff costs were as follows:
Social security costs
Salaries and wages
Employer’s contribution to defined contribution pension schemes		 2024
£
882,832
106,529
33,096		 2023
£
954,493
104,269
22,358
1,022,457 1,081,120

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:


employer's national insurance) during the year between:
2024 2023
No. No.
£60,000 - £69,999 1 2
£70,000 - £79,999 1 1
£80,000 - £89,999 1 1
£90,000 - £99,999 1 -
£100,000 - £109,999 1 -
£110,000 - £119,000 - 1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £314,224 (2023: £307,867).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

No donations were received from Trustees during the year. (2023 - Nil).

No expenses were paid to one of the Trustees in the financial year (2023: £99).

27

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

6 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 19 (2023:18).

Staff are split across the activities of the charitable company as follows:

Staff are split across the activities of the charitable company as follows:
Mail & marketing Services
Support
Software and support		 2024
No.
4.5
10.2
4.8		 2023
No.
3.9
9.1
4.8
19.5 17.8

7 Related party transactions

There were no transactions with related parties.

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's trading subsidiary CTT Charity payments made taxable profits in the year but no charge to corporation tax is expected due to the availability of tax losses brought forward, profit of £28,852 in 2024 (2023:£24,898).

28

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

For the year ended 31 March 2024
9
Tangible fixed assets
At the end of the year
At the start of the year
Additions in year
At the start of the year
Charge for the year
Depreciation
Cost
Net book value
At the end of the year
The group and Charity
At the end of the year
At the start of the year		 Fixtures and
fittings
£
51,302
-		 Computer
equipment
£
187,141
-		 Total
£
238,443
-
51,302 187,141 238,443
51,302
-		 187,141
-		 238,443
-
51,302 187,141 238,443
- - -
- - -

29

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

10 Subsidiary undertakings

The charitable company owns the whole of the issued ordinary share capital of CTT Charity Payments Limited, a company registered in England (4222881). The subsidiary is used for additional primary purpose trading activities. All activities have been consolidated on a line by line basis in the statement of financial activities.

The aggregate of the assets, liabilities and funds was:
Cost of sales
Assets
Liabilities
Operating profit
Profit for the financial year
Interest receivable
Turnover
Administrative and direct expenses
Costs fairly apportioned from the parent charity
Gross profit
Deficit in funds		 2024
£
172,548
(96,738)		 2023
£
163,640
(89,120)
75,810
(4,461)
(33,070)		 74,520
(18,099)
(33,072)
38,279
5,607		 23,349
1,551
43,886 24,900
249,139
(508,291)		 196,581
(498,619)
(259,152) (302,038)

11 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

Balance with subsidiaries
Trade debtors
Other debtors
Prepayments and accrued income
Result for the year
Gross income
Debtors		 2024
2023
£
£
156,008
200,156
1,972
11,505
51,358
80,323
-
-
209,338
291,984
The group		 2024
2023
£
£
156,008
200,156
1,972
11,505
51,358
80,323
-
-
209,338
291,984
The group		 2024
£
1,739,823
(186,514)		 2023
£
2,035,196
(359,360)
209,338 291,984 488,123 636,764

12 Debtors

30

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

Creditors: amounts falling due within one year
Accruals
Trade creditors
Taxation and social security
Deferred income (note 14)
Other creditors		 2024
2023
£
£
206,299
125,602
87,183
99,403
161,180
67,111
42,614
128,471
109,322
210,214
606,598
630,801
The group		 2024
2023
£
£
202,492
122,084
71,164
71,112
7,202
9,550
34,863
120,094
109,322
225,252
425,043
548,092
The charity
606,598 630,801 425,043 548,092

14 Deferred income

Deferred income comprises unexpired elements of invoiced contract bundles for email marketing unused by clients at year end, billed but not delivered work undertaken on the Charity Digital News platform and deferred balances from grants received where performance specified under the donation is not completed.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2024
2023
£
£
210,214
325,384
(636,558)
(974,253)
520,628
859,083
109,322
210,214
The group		 2024
2023
£
£
210,214
325,384
(636,558)
(974,253)
520,628
859,083
109,322
210,214
The group		 2024
2023
£
£
225,252
325,384
(636,558)
(879,253)
520,628
779,121
109,322
225,252
The charity		 2024
2023
£
£
225,252
325,384
(636,558)
(879,253)
520,628
779,121
109,322
225,252
The charity
109,322 210,214 109,322 225,252

15 Creditors: amounts falling due after one year

Creditors: amounts falling due after one year
Other liabilities 2024
2023
£
£
-
-
-
-
The group		 2024
2023
£
£
326,513
447,446
326,513
447,446
The charity
- - 326,513 447,446

16 Analysis of group net assets between funds (current year)

Analysis of group net assets between funds (current year)
Net current assets
Long term liabilities
Tangible fixed assets
Net assets at 31 March 2024		 General
unrestricted
£
-
221515
-		 Restricted
funds
£
-
83,164
-		 Total funds
£
-
304,679
-
221,515 83,164 304,679

31

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

17 Analysis of group net assets between funds (prior year)
General Restricted
unrestricted funds Total funds
£ £ £
Tangible fixed assets - -
Net current assets 498,937 110,951 609,888
Long term liabilities - - -
Net assets at 31 March 2023 498,937 110,951 609,888
18 Movements in funds (current year)
At 1 April Income & Expenditure & At 31 March
2023 gains losses 2024
£ £ £ £
Restricted funds:
Tides Foundation 95,457 79,933 (92,225) 83,165
TS Foundation - - - -
Code of practice - - - -
Total restricted funds 95,457 79,933 (92,225) 83,165
General funds 514,431 1,838,047 (2,130,964) 221,513
Total funds 609,888 1,917,980 (2,223,189) 304,678

The narrative to explain the purpose of each fund is given at the foot of the note below.

19 Movements in funds (prior year)

Movements in funds (prior year)
Code of practice
Total restricted funds
General funds
Heritage Digital
Total funds
OCS
Restricted funds:
Tides Foundation
TS Foundation		 At 31 March
2022
£
5,028
68,484
4,551
1,899		 Income &
gains
£
124,900
86,282
-
-
-		 Expenditure &
losses
£
(129,928)
(59,309)
(4,551)
(1,899)		 At 1 April 2023
£
95,457
-
-
-
79,962
864,388		 211,182
1,989,202		 (195,687)
(2,339,159)		 95,457
514,431
944,350 2,200,384 (2,534,846) 609,888
,

32

Charity Digital Trust

Notes to the financial statements

For the year ended 31 March 2024

Purposes of restricted funds

Heritage Digital

Heritage Digital Academy is a programme managed by Charity Digital which seeks to support organisations in the Heritage sector in developing new practices around the use of digital tools and services.

Tides Foundation

Charity Digital has been awarded funding to deliver a programme entitled 'Accelerating Digital Strategy'. This will support a cohort of not for profits over a 12 month period and will be primarily delivered in the following financial year.

20 Reconciliation of net income to net cash flow from operating activities

Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Decrease (Increase) in debtors
Increase in creditors
Net cash provided by operating activities		 2024
£
(305,209)
-
82,646
(24,203)		 2023
£
(334,462)
33,461
(106,395)
(336,874)
(246,765) (744,270)

21 Operating lease commitments

The group's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:


of the following periods:
Property Equipment
2024 2023 2024 2023
£ £ £ £
Less than one year 17,082 97,392 - -

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.

33