Charity number: 1143033 Company Number: 04295400 Clervaux Trust Limited (A Company Llmlted by Guarant8e) Trustees, report and financial statements For the year ended 31 August 2022 GLERVAUX TRUST LIMITED CONTENTS Page Legal and administrative infotmalion Report of the Trustees Independent Audilorfs Report Stslement of FinancSal Acllvhies Balance Sheet 12 Cash Flow Statement 13 Notss to the Financial Statements 14 CLERVAUX TRusf LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Re istered office Ruskirk Mill Millbottom Nailsworth stroud Glouce51ershire GL6 OLA Princi al office Clow Be¢k Centre Jolby Lane Darlington DL2 2TF Trustees H M Kippax l K Clements C A Hindmarsh (rèsigned 28 March 2022) A C H Gordon OBE (appointed 1 September 20221 Com n SeGreta E Johnson nt Personnel Aonghus Gordon OBE- Founder & Executive Chair Tara Gr8tton - Director Schools and Rise Shazuli Iqbal- Chief Financial off￿er Constantin Court- Director of PSTE Quality Assurance Lindsay VVllkinson- Trust Head of Human Resourcés Auditors Grant Thornton UK LLP Chartered Accountants & Statutory Auditor 1Th Floor 103 Colmore Row Birmingham B3 3AG Bankers Lloyds Bank PIC 12 Rowcroft stroud Gloucestershir8 GL5 3BD Soli¢itors Royds Wrthy King LLP 69 Carter Lane London EC4V SEQ CLERVAUX TRUST LIMITED REPORT OF THE TRUSTEES The Trustees., who aTe also clirectors of the charty for the purposès of Ihè Companies Act 2006, presént their ieport with the financial statements of the charity for the year to 31 Augusl 2022. Govemlng document Clervatjx Trust Ltd is a règlstered ¢harity (reglslered no. 11430331 and a company limited by guarantee {registered no. 04295400). as defined by the Companies Act 2006. Its Goveming Inslnjmenl is the Memorandum & Articles of Association dated 27 September 2001, as amended on 12th January 2011 and 7th Match 2012. STRUCTURE. GOVERNANCE AND MANAGEMENT Group Structure Ruskin Mill Trust Limtted is the sole member of Clervaux Trust Ltd. Clervaux Trust Ltd is part of the Ruskin Mill Trust Group. Clervaux Trust Ltd operates Clervaux Rise and the Fokl, and sub.18ases fmm Ruskin Mill Land Trust IrÈlalÈd patyl 70 a￿$ of farmland. adjacent lo the Clervaux Garden School. and the Bishop's House in Darlington, for the purposes of delivering social care and work experien￿ services for adults Mth special needs. both day and residential. Clervaux Fold, also operated by Clervaux Trust, is a dedicated family centre working with Arn]y Families attached to Ihe nearby Catterick Garrison. as well as local non.military famil'es. registered office of Clervaux TNst Ltd is Ruskin Mill. Millbottom, Nailsworth, Stroud, GL6 OLA and the principal offiee is Cknv Beck Centre. Jolby Lan8, Darlinglon, DL2 2TF. Rocwltment and appointment of new Trustees The charity's practice regarding recruf(ment has been for members of the Board to make recommendation5 for suitably skilled and experienced people who are then appraised by Ruskin Mill Tnjst's Board of Trustèes which ma(e$ the final de¢i$ion. Induction and training are carried out during the meeting cycle, and members are also invited to trainiThJ at Ruskin Mill Trusys other centres. During the year, individual Trustees undertook a tange of appropriate Iratning. Organlsational Manag•m•nt The Irustses delegate the day lo day running of the provision to a local management team who oversee operations and which reports to Ruskin Mill Trust's Oir&loi of Schools and Rise. The key management personnel are listed on pag¢ l. The trustees did not receive any remuneration from Clervaux Trust Ltd in the current or previous period. Dlrectors and Trustsos The Trustees during the period are listed on page 1. OBJECTS AND AIMS OblKts The charty'5 Objects are.. To advance the education of the public in the Subject of conservation, protection and restoration of the natLral environment and Ihe sustainable and rational us8 ol natural resources with p8rli¢ul8r ￿ference to the setling up or eStablis￿.fig either joint]y or with otheTS educational facilities foT children and adults. including children and adults with leaming d[￿l¢￿IlieS. lo in¢lude 8tts 8nd crafts aclivilies. woodland management and residential accommodation, with parbcular reference being given lo the ir*di¢atign8 and insights of Rudolf Sleinw in these areas. CLERVAUX TRUST LIMITED Atms CleTvaux Rise offers day and residential Gore pla¢e$ in Darlington and the wider area to adults with ¢omplex learning and behavioural drffKullie5, and il supports them in gaining training and further education. Daytime work and training is available in the rural selling of thè farm al Croft-on-Tees, whlch provide5 sessions in social enterprise activities and land work. In Dartington, there are opportunities for supportèd work placèmèrtts al the Bishop's House through the bakery & café.. the residential provision provides additional independence training for adults benefitting from longef term care and supty)rt. Clervaux Fold offpJs a¢livilie8 to lo¢al milltary and on military families including craft sessKin5 land work, and social aclimties. Public ban•fit In catrying out its activ￿e$ in the year under review, the Trustees ¢onfimi that they have complied wrth their duly under Section 17 of the Char6ties Act 2011 to have regard to the public benefit guidance issued by the Charity Commission for England and Wales. STRATEGIC REPORT Achièvèments & Perforniance Clwaux Trust continues lo operate two successful athjlt programmes.. CleNaux Rise and the Fold. Clervaux Rise participants are engaged in working ￿ the farm and supporting the box scheme that delivers vegetables to Ihe k)cal community. There are also work experience opportunities available in landscaping, woodlands and in the shop in the ￿mmunity. The Rise programme has slight￿ grown since the previous year and staffing levels remain the same. There is currenuy a slrong focus on reviewing and updaling marketing materlals for the Rise programmes a¢ro$$ the Trust. wlh the hope to further grow participant numbers. Clervaux continues to develop links with kjcal authollfies ir) the region which will. it is hoped. result in fvrther residential and doy placements. The Fold continues to bè a valued communlty resour¢e for the mili18ry families from Catterick as well #S local families. The Fold offers fami activities as wèll as craft, cooking and social acbviti88. The Fold also supported a Summer Fair evenl which included Clervaux Rise participants as well as pupils from Cletvaux Garden School. The Fold activities are primarily funded through fundraising. Over the year, the care and sUPPOrt provided by Clervaux to ils day and residential seNce users has been consistently praised by their respèctive Loc81 Authorities and other stakeholders. Financial Revlew Rèsults Trustees value the nel income of £16,055 made during the perw)d to 31 August 202212022.- deficit £170,358). A signifficant percerrtage of Cletvaux Trust's total incorne £896.367 {2021.' £701,391) comes from fees 93%12021-. 96%). and 7V. {2021.- 3•hl relates to other incomè, which includes café and fami Sales. Fundraising Fundraising throughout the Ruskin Mill TnJ$t Group is managed by an in-house Fundraising Department which is led by a Dire¢lor of Fundraising. No use is made of any extemal, professional fu[￿raiSer or any comrnercial participalor. so no fundraising activities were carried out on Clervaux Trust's behalf during the year nor were any approache5 made lo vulnerable individuals in pursuit of the raising of funds for the charity. CleNaux Trust Ltd'$ parent charity. Ruskin Mill Trust, has sIgr￿d up to the Fsjndraising Regulatorfs Code of Fundraising Practice and it pays an annv31 levy lo the Reyulalor. During the yèar thère was failure lo comply with 8 $¢heme or standard crted nor were any complaints received about the fundraising a¢tivitie$ conducted by the Ruskin Mill Trust. Money Taised by Clervaux Trust Ltd through fundraising actiwities are used by il as agreed with the dOr￿r and comply with any conditions attached by the donor. CLERVAUXTRUST UMITED Reserves The trustee$ review the charty's firiancial plans and resuhs regulaity throughout the year. This is done through moniloring income and expenditure against budget forecasts and monrtoring ¢ash flow. The Trustees feel il wudent to build the level ol reserniès on an annual basis with the purpose of ensuring that the charity has sufficient reserves to act as a buffer against unexpected drops in income or increases in expenditure. The reserve$ Currently held are reytricÉed funds £37,605 12021-. £43,083} and unrestricted funds-£249,565 (2021=_F271,098). Risks & Uncortaintigs The tnjslees review the risks to whlch the charity is exposed such as the heatth and Safety of SeTviee users, visitors, volunteers and staff on an On-goi￿ basis and are satisfied Ihal systems are in place to manage exposure to the major risks. They maintain appropriate levels of insurance cover for all foreseeable risks. SpecffK areas of risk and uncertainty ate". Financlal Vlablllty.. Clervaux RISE Clervaux Rise growth continues to be slow, but as it 15 fK)w sharing resources wlh the garden school. Ihe Rise programme has beGome more financialty viable. There is a focu5 on marketing an recruiting for the Rise programme and thè Tnjst's Head of Business Developmènt is w￿￿n9 closèly th senior leaders to deliver a grovrth plan. Clervaux Fobj The Fold is a no￿stanc1ard Ruskin Mill Trust educational provision. The Business Plan has identified mmunity groups that would benefit from this service and generate illcome stream5 and achieve financial viability. Poor Inspaction rasult". The risk of Clervaux Trust Ltd receiving a poor grade followin9 an inspection by the Care Qua]ty Commission (CQC). This is being mitigated through a rigoroLbS System of inlemal Quality Assurance, inEluding use of a speGia1151 extemal consultant and investment in stsff Iralnlng. Regulatory nonr our opinion. Coneluyions relatlng to golny ¢onGom We are responsibie for concluding on the approprlaleness of the trustees. use of the going Concern basis f)f aGGounting and. based on the audié evidenc8 obtained, whether a rnaterial uncertainty exist$ related to events or conditions that may cast $ignifi¢ant doubt on the charitable company's ability to continue a5 going concem. Ifwe conclude that a material uncertainty eMsls, we are required to draw attention in our report to the related (tisclosures in the financial stsl¢m¢nts or, if suGh disdosures are inadequate, lo modify the auditorfs opinion. Our cL￿ClUsionS are based on the audit evidencè obi8ined up lo the dale of our report. However. fulure events or conditions may cause the company to cease to conlinue as a going oncem. In ￿r evaluallon of the trustees, conclusions. we ¢onsidered the inherent ri8ks associated wth the charitable company's busines5 model induding effects arisin9 from ma¢rfreconomic uncertainties such as the cost of living crisis, we assessed and challenged the reasonableness of estimates made by the trustees and the related disclosures and analysed how those risk$ might affect Ihe charitable company's financial resour￿ or ability t¢ continue ¢perations over the going conc8m period. In auditing the financial statemÈnls. we have concluded that the trustees, use ofthe going concern basis of accounting in th8 preparation of the financial slalements is appropriate. Based on the worf( we have perforwned. we have not identified any material uncertalntles rélallng lo evènts or conditions that, individually or colle¢tivety, may fjast signifiGant doubt on the charitable company's abilty lo continue as a going concern for a period of al least I￿￿1ve months from vthen the finarKial slatement3 aTe aulhorised for issue. CLERVAUX TRUST UMITED Our iesponsibilf(ies and the responsibifilbes of (he directors respe¢t lo going concern are describe(l in the ￿ levanl seth.ons of this r¢p¢)rt. Othgr Infomiatlon The other infotmalion Gomprises the information included in the Trustees, Report, other than the financial statements and our auditorfs report ihereon. The trustees are responsible for the other infom8tion contained vthhin the Trustees, Report. Our opinion on the financial statements does Th)1 cover the other information and, ex¢ept to the extent othetwise expliciuy staled in our report, we do not express any forni of assurance conclusion Ihereon. Our responsibility is to ￿a￿ the other informat￿￿ and, in doing so, considei whether the other information is materially inconsistent wilh the financial ststements or our knowledge obtained irn the audil or olhwmse appears lo be materially misstated. If we identify such material inconsistencies or apparent material misststements, we are required lo delermine whether there is a matellal misslalement in Ihe financial statements themselves. If. based on the work we have performed, we conclude that Iheie is a material mi8sl8lemenl of this other informatK)n. we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companles Act 2006 In our opinion, based on the wt)rk undertaken in the course of the audit.. the information gwen in the Strategic Report and the Directors, Report. Ptepaied for the purposes of company law, included In the Trustees, Report for the financial year for which the financial statements are prepared is consistent with the finan¢ial $latements. the Strategtc Report 8nd the Directors, Report included in the Trustees. Report have been prepared in accordance with applicable legal requirements. Matt¢r On which we are required to report under the Companles Act 2006 In the light of the knowtedge and understanding of the chaJitsbl@ company and its environment obtained in the course of the audit, we have ntst identified material misstatements in the Strategic Report or the Directrjrs, Report induded in thè Tru8tee8' Report. Mattgrs on whlch we are required to report by oxceptlon Vve have nothing to report in respect of the following matters in relation to ￿lch the Companies Act 2006 requires us lo report to you If, Sn our oplnion.. adequate accounting records have not been kept. or returns ad8quat8 for our audit have not bèen recewed from branches not visited by us.. or the financial ststements are not In agreement with the accounting records and relurns,- or • certain disclosures of tmslees, remuneration specffied by law are not made., or • w8 hav$ not receNed all the information and explarTrations we require for our audit. Responslbllltl•s of tru5tee¥ As eX[￿alne￿ more fvlly in the Slalemerbt of Trustees. Responsibilities, the trustees (who are also the directors of the charitable Company for the puiposes of Gompany lawl are responsible for the preparation of the financial statements and for being satisfied that they gTve a true and fairviÈw, and for such irtlernal ontrol as the trustees detefmlne 18 necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or 8rror. CLERVAUX TRUST LIMITED In preparing the financial statements. the trustees are responsible for assessing the ¢haritable company's ability to continue as a going concern. disclosing, as appI￿able, matters related 10 90ing concem and us#ig the going concern basis of ac¢ounting unless the trustees eilhei intend to Ilquidale the charitable company OT to cease operations, or have no realistic allemative but to do so. Audltorfs responslbllltles for the audtt of thè flnan¢lal statsments Our objective5 are to obtain reasonable assurance aboLrt whether the financial statements as a whole are frèe from material misslalemenl, whether due to fraud or error. and lo issue an auditor's report Ihat includes our opinion. Reasonable a$surance is a high level of assurance but is not a guarantee that an audit conducled in accordance with ISAS {UKI wll ahmays deled a mateaal mis51alemenl when it exists. Misstatements Can arise from fraud or error and are considered malerfai If, Sndlvldually or In the aggregate. they could reasonably be expected lo influence the economic decisions of us8rs taken on the basis of these financial Statements. Irregularities, induding fraud, are instances of non-compliance with laws and ￿gUlatiOns. The extent to which our procedures are capable of deleGting irregularitses, incSudin9 fraud. is detailed below.. We obtained an understanding of the legal and regulatory frameworks that are appllcable to the ¢haTilable company and the sectoi in which il operates. We determined that the followng laws and Tegulalions were most s￿nI￿an1' The Financial Reporting Standard applicable in thè UK and the Republic ol Ireland {FRS 1021, Charitie5 SORP IFRS 102}, the Companies Act 2006 and Charities Act 2011.. We underslotsd how the charitable company 15 complying wlh these legal and regulatory frameworks by maknng inquiries of management and those charged with governance. We enqUI￿d of management and those charged wtih governance whether there were any instances of non-compliance ￿th laws and regulations. or whether they had any knowledge of actual or suspected fraud. We corroborated the results of our enquiries through our review of board and other minutes and through our legal and professlonal expenses review. We assessed th¢ susceptibility ot the charitable company's financial statements lo malerfal misstatement. including how fraud might occur and the risk of Materi￿ override of ￿ntrol$. Audit pro￿dUreS perform8d by Ihe engagemÉnt tèam included- Identifying and assessing the design effectiveness ol certain controls management has in place lo prevent #nd delect fraud Challenging assun)plk*ns and Judgements made by management In its significant accounting polie4es Identifyin9 and testing journal entries. V4ilh a focus on manual postings. journals that dlrectiy impacted on the surplus reported in the Statement of financial activitses and journal entries posted in the closing and accounts preparation period Identifying and testing Telaled party Iransaclions lnspeth.ng the board and other committee minutes Assesslng the extenl of compllance ￿th the relevant laws 8nd ￿gUlationS as part of our procedures on the related financial statement item These audit procedurès wer8 designed trj provide reasonable assurance that the financial Statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not.detecting one resulting from error and dete¢ting iNegularities that result from fraud 1$ inherently more drffieull than detècting those that rèsult from error, 8$ fraud may invofve ¢ollusion. deliberate concealment, forgery or intentional mIs￿preSentatiOns. Also, the fvrther removed non- compliancé wth jaws and règulafions 1$ from events and Iransa¢lion$ refiecleLI in the finallcial slalemeFIts, the less likely we would become aware of it., GLERVAUX TRUST LIMITED Assessment of the 8pproprialene$s of the collective competence and capabilities of the engagement team included consideration of the engagement team's-. understanding of, and pra¢tical experience with audit efigagements of a similar nature and complexity through appropriate training and participation knowledge of the charity, education and carè sector undetstsnding of the legal and regulatory requirements sPeCrf￿ lo ¢haritable ¢ompany including.. the provisions of Ihe applicable legislation guidan¢e issued by the Charities Comrni55ion. The team communications in respect of pol¢ntial nonns Disp05als At 31 August 2022 88.097 11,514 254.935 11.826 3￿,877 S9,585 36.245 266.761 50,090 416.462 Depre¢latlon At 31 August 2021 Charge for the year Disposals At 31 August 2022 72.907 12.194 2QO.130 5,307 11,679 1.318 284.718 18,819 205A37 303 NBV At 31 August 2022 Al I Sepfember 2021 54,805 2.166 DEBTORS: AMOUNTS DUE WITHIN ONE YEAR Year Ended 31 August 2022 Year Ended 31 August 2021 Trade Debtors Amounts due from group undertakin9$ Prepayments Other Debto¥s 271.7S2 286,474 9.420 9,009 12,718 6.202 12,446 290.400 317621 CLERVAUX TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 12. CREDITORS: AAIOUNTS FALLING DUEWITHIN ONEYEAR 31 August 31 August 2022 2021 Trade creditors other ci8dttor8 Amounts owed lo par8nt undertaklng Social strcurty and other taxes VAT A¢cYual$ and d•ferred income 38,055 2D.801 716.184 13.112 41.265 31,997 14,392 574.988 10.283 51.354 33,431 829A17 716,443 Inclufled within amounts owed to group undertakings is an interest free loan of £716.18412021.. £574.988) from Ruskin Mill Trust Limited. The loan is due lo be repaid by 31 August 2023 and as such no discounting has b8èn appk"e(l on the grounds of materiality. 13. OPEFAMNG LEASE COMMITMENTS At the period ond the ch8ritabl8 company had total Gommmmenls due under non