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|||||Page|
|---|---|---|---|---|
|Charity Reference and Administrative||Details|||
|Report ofthe Trustees||||3 —9|
|Report ofthe Independent|Auditor|||10-13|
|Consolidated
Statement|of Financial|Activities (including|the||
|Income and Expenditure|Account)|||14|
|Balance Sheets||||15|
|Consolidated
Statement|ofCash Flows||||
|Notes to the Financial Statements||||17-32|
|Trustees||Mr Nicholas Silver||||||
|---|---|---|---|---|---|---|---|
|||Mr Simon Cooper||||||
|||Ms Doris Honold (Chair- appointed||||Chair 18November|2022)|
|||Dr Karl Mallon (resigned||17November 2022)||||
|||Prof Cynthia
Williams|(resigned||17November 2022)|||
|||Ms Karen Kearney||||||
|||Mr Jonathan
Stone||||||
|||Mr KSteels (appointed||18August 2022)||||
|||Dr R Roy (appointed|1 July 2022)|||||
|||Ms E Grayer (appointed||1 July|2022)|||
|CEO||Mr Sean Kidney||||||
|Company|Number|07455730||||||
|Charity Number||1154413||||||
|Registered|Office|First Floor||||||
|||Queen Street Place||||||
|||London||||||
|||EC4R 1BE||||||
|Bankers||HSBC UK Bank pic||||||
|||1 Centenary
Square||||||
|||Birmingham||||||
|||B1 1HQ||||||
|Auditor||PKF Littlejohn
LLP||||||
|||15Westferry
Circus||||||
|||Canary Wharf||||||
|||London||||||
|||E144HD||||||
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||Notes|Funds|Funds|2022|2021|
|||||F|||6|
|Income from:||||||||
|Charitable
activities|||2|3,075,697|3,504,589|6,580,286|6,266,252|
|Bank interest|||3||||7|
|Other trading
income|||4|245,543||245,543|277,338|
|Total Income||||3,321,240|3,504,589|6,825,829|6,543,597|
|Expenditure
on:||||||||
|Chaditable
activities|||5|2,491,818|3,536,551|6,028,369|4,957,729|
|Trading activities||||312,336|-|312,336|152,397|
|Total expenditure||||2,804,154|3,536,551|6,340,705|5,110,126|
|Net income|||9|517,086|(31,962)|485,124|1,433,471|
|Transfers
between|funds|||||||
|Net Movement
in Funds||||517,086|(31,962)|485,124|1,433,471|
|Reconciliation ofFunds:||||||||
|Total funds
brought||forward||1,629,817|107,594|1,737,411|303,940|
|Total funds carried||forward||2,146,903|75,632|2,222,535|1,737,411|
##
##
##
||||||Notes|2022
f|2021
6|
|---|---|---|---|---|---|---|---|
|Net cash|flow provided
by||operating||20|||
|activities||||||2,545,238|2,076,863|
|Cash flow from investing||activities||||||
|Payments|to acquire tangible||fixed assets|||(29,518)|(15,161)|
|Bank interest|||||||7|
|Net cash|flow used in investing
activities|||||(29,518)|(15,154)|
|Change|in cash and cash|equivalents||in||2,515,720|2,061,709|
|the year||||||||
|Cash and cash equivalents|||at 1January|||3,245,592|1,183,883|
|Cash and cash equivalents|||at 31 December|||5,761,312|3,245,592|
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|Unrestricted|Restricted|Total|Total|
|---|---|---|---|
|Funds
f|Funds
f|2022
F|2021
f|
|3,075,697|3,504,589|6,580,286|6,266,252|
|Unrestricted|Restricted|Total|Total|
|Funds|Fundsf|2022f|2021f|
||||7|
|Unrestricted|Restdcted|Total|Total|
|Funds
f|Funds
f|2022
f|2021f|
|245,543||245,543|277,338|
|xpenditure|on Charit|able
Activities|||||
|---|---|---|---|---|---|---|
||||Direct|Support|Total|Total|
||||Costs
F|Costs
f|2022|2021|
|Projects,|advocacy|and|||||
|guidance|||5,751,757|276,612|6,028,369|4,957,729|
|Totals 2021|||4,209,795|747,934|4,957,729||
|irect costs||||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||Fundsf|Fundsf|2022f|2021f|
|Consultancy|costs|1,423,023|1,782,795|3,205,818|2,527,537|
|Other direct|costs|14,708|28,616|43,324|18,775|
|Travel and|subsistence|55,608|141,978|197,586|22,097|
|Staff costs||1,198,616|1,106,413|2,305,029|1,641,386|
|Total||2,691,955|3,059,802|5,751,757|4,209,795|
##
##
|upport cost|s|||||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||Fundsf|Fundsf|2022
F|2021f|
|Conference event||costs||5,145|37,250|42,395|3,814|
|Establishment|and||general|||||
|administration||||143,375|446,221|589,596|600,697|
|Support staff|costs||||||35,868|
|Governance|costs|||11,011||11,011|65,377|
|Depreciation||||11,182||11,182|9,711|
|Amortisation||||5,624||5,624|28,571|
|Foreign exchange||(gain)/loss||(376,474)|(6,722)|(383,196)|3,896|
|Total||||(200,137)|476,749|276,612|747,934|
##
|8.|Governance costs||||||
|---|---|---|---|---|---|---|
||||||Total|Total|
||||||2022f|2021f|
||Accountancy fees|||||28,173|
||Legal and professional||||11,840|14,104|
||Auditor's
remuneration||||||
||audit||||18,000|13,000|
||other services||||7,680|10,100|
||overaccrual
in prior years||||(26,509)||
||||||11,011|65,377|
|9.|Net income for the|year|||||
||The net income is stated after (crediting)/charging:||||||
||||||Total|Total|
||||||2022|2021f|
||Depreciation
oftangible fixed assets||||11,182|9,711|
||Amortisation
of intangible||fixed assets||5,624|28,571|
||Net (gains)/losses|on foreign exchange|||(383,196)|3,896|
|10.|Staff costs and employee||benefits||||
||The total staff costs|and employee||benefits were as follows:|||
||||||Total|Total|
||||||2022f|2021f|
||Wages and salaries||||2,013,730|1,339,377|
||Social security||||241,865|161,010|
||Defined contribution|pension costs|||44,459|33,566|
||Redundancy
payments|||||3,264|
||||||2,300,054|1,537,217|
##
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##
|||||
|---|---|---|---|
|Cost||2022|2021|
|Investment|in Climate Bond Services Limited|100|100|
|Investment|in Climate Bonds Initiative
Low Carbon World|||
|(Shanghai)|Business Consulting
Co., Ltd|50,000|50,000|
|||50,100|50,100|
##
##
|Current|assets|288,676|188,198|
|---|---|---|---|
|Current|liabilities|292,856|(188,098)|
|Net (liabilities)/assets||(4,180)|100|
|||2022f|2021f|
|---|---|---|---|
|Turnover|||88|
|Administrative|expenses|(25,895)|(12,536)|
|Result for the|year|(25,895)|(12,448)|
|||2022|2021|
|||F.|6|
|Fixed assets
Current assets||1,716
186|27,677|
|Current
liabilities||(27,797)|(27,677)|
|Net (liabilities)/assets||(25,895)||
##
##
|Cost|Website and||
|---|---|---|
||database|Totalf|
|At beginning
ofyear
Additions|152,717
50,000|152,717
50,000|
|Disposals|||
|At end ofyear|202,717|202,717|
|Amortisation|||
|At beginning
ofyear
Charge for the year|152,717
5,624|152,717
5,624|
|Released on disposals|||
|At end ofyear|158,341|158,341|
|Net BookValue|||
|At 31 December 2022|44,376|44,376|
|At 31 December 2021|||
##
|Tangible Fixed Assets (Group)|||||
|---|---|---|---|---|
||Plant|&|Office & IT||
|Cost|machinery|6|equipment|Total|
|At beginning
ofyear
Additions|424||73,735
29,518|74,159
29,518|
|Dieposals|||||
|At end ofyear|424||103,253|103,677|
|Depreciation|||||
|At beginning
ofyear
Charge for the year|424||48,590
11,182|49,014
11,182|
|Released
on disposals|||||
|At end ofyear|424||59,772|60,196|
|Net BookValue|||||
|At 31 December 2022|||43,481|43,481|
|At 31 December 2021|||25,145|25,145|
##
##
|||||Plant|&|Office &IT|Office &IT|||
|---|---|---|---|---|---|---|---|---|---|
|Cost||||machinery|6|equipment
F||Totalf||
|At beginning
ofyear
Additions||||424|||73,735
27,574|74,159
27,574||
|Disposals||||||||||
|At end ofyear||||424|||101,309|101,733||
|Depreciation||||||||||
|At beginning
ofyear
Charge for the year
Released on disposals||||424|||48,590
10,954|49,014
10,954||
|At end ofyear||||424|||59,544|59,968||
|Net Book Value||||||||||
|At 31 December 2022|||||||41,765|41,765||
|At 31 December 2021|||||||25,145|25,145||
|Debtors||||||||||
||||||Group|||Charity||
|||||2022|||2021|2022|2021|
|||||6||||E||
|Trade debtors||||1,104,552||854,345||1,015,053|836,345|
|Other debtors||||14,020|||7,132||6,849|
|Prepayments
and accrued income||||197,996||406,254||197,996|406,255|
|Intercompany
debtor||||||||295,759|168,885|
|||||1,316,568||1,267,731||1,508,808|1,418,334|
|Creditors: Amounts|Falling Due Within One Year|||||||||
||||||Group|||Chadty||
|||||2022
f|||2021|2022|2021|
|Trade creditors||||203,817||242,912||192,428|224,142|
|Social security and other taxes||||106,644||57,882||106,644|57,882|
|Other creditors||||287,272||258,803||287,272|258,703|
|Accruals and deferred||income*||4,345,469||2,241,460||4,334,044|2,235,013|
|Intercompany
creditor||||||||100|100|
|||||4,943,202||2,801,057||4,920,488|2,775,840|
|*Deferred income:||||||||||
|Brought forward at 1|January||2022||||1,908,853|||
|Incoming
resources deferred|||during the year||||4,081,316|||
|Amounts
released from previous years|||||||(1,908,853)|||
|Carded fonvard at 31||December 2022|||||4,081,316|||
##
##
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##
##
|und reconciliation|(co|ns|olidated)|||||||
|---|---|---|---|---|---|---|---|---|---|
|Current Year|||||Balance as||||Balance as|
||||||at 1.1.22f|Income
6|Expenditure
6|Transfers
6|at 31.12.22
6|
|European
Commission||(EuroPace)|||(1)|(1,846)|1,847|||
|UNDP|||||15,988|13,132|(29,120)|||
|G &BMoore Foundation|||||1,033|352,873|(352,873)||1,033|
|Oak Foundation|||||3,473|140,394|(141,908)||1,959|
|World Resources
Institute|||(WRI)||17,380|9,981|(24,637)||2,724|
|BEISChina|||||3,905||||3,905|
|BEISColumbia|||||9,460||(2,009)||7,451|
|Agora Foundation|||||185||||185|
|ECF EU Taxonomy|2020||||1,597||||1,597|
|ECF EU Taxonomy|2021||||24,130|12,795|(38,781)||(1,856)|
|ECF EU Taxonomy|2022|||||109,311|(109,312)||(1)|
|ECFTars|||||(9,126)|24,015|(14,889)|||
|FSD Africa|||||2,490|30,359|(2,850)||29,999|
|GCA Standards|||||(144)||144|||
|GIZ ASEAN|||||6,349|(4,858)|||1,491|
|Growald
Foundation|||||(7,935)|111,630|(103,695)|||
|IPSF GIZ 2020|||||26,035||84,126||110,161|
|IPSF GIZ 2021-22||||||(111,655)|||(111,655)|
|The Children's
Investment|||Fund|||1,042,204|(1,042,204)|||
|The
Foreign
Commonwealth||||and||||||
|Development
Office|—India 2021|||||121,426|(121,426)|||
|The
Foreign
Commonwealth||||and||36,204|(36,204)|||
|Development
Office|—India 2022|||||||||
|UK PACT China|||||(20)|143,343|(135,267)||8,056|
|UK PACT Columbia||||||417,228|(417,228)|||
|UK PACT India||||||24,109|(24,106)||3|
|UNDRR||||||102,331|(101,302)||1,029|
|Laudes Foundation|2021-23||||(170)|370,436|(370,266)|||
|New Venture
Fund|||||12,964|531,703|(531,703)||12,964|
|Tara Climate
Limited||||||29,474|(22,888)||6,586|
|Total restricted funds|||||107,594|3,504,589|(3,536,551)||75,632|
|General
Funds|||||1,629,817|3,321,240|(2,804,154)||2,146,903|
|Total unrestricted|funds||||1,629,817|3,321,240|(2,804,154)||2,246,903|
|Total funds|||||1,737,411|6,825,829|(6,340,705)||2,222,535|
##
|Prior Year|||||Balance as||||Balance as|
|---|---|---|---|---|---|---|---|---|---|
||||||at 1.1.21
6|Income
6|Expenditure
F|Transfers
f|at 31.12.21
6|
|European
Commission
UNDP||(EuroPace)||||32,120
108,526|(32,121)
(92,538)||(I)
15,988|
|G &BMoore Foundation||||||288,941|(287,908)||1,033|
|Oak Foundation|||||3,268|218,226|(218,021)||3,473|
|World Resources
Institute
BEISChina|||(WRI)||3,905|93,149|(75,769)||17,380
3,905|
|BEISColumbia|||||9,810||(350)||9,460|
|Agora Foundation|||||(310)|50,424|(49,929)||185|
|ECF EU Taxonomy|2020||||27,692|13,343|(39,438)||1,597|
|ECF EU Taxonomy|2021|||||114,697|(90,567)||24,130|
|ECFTare|||||28,907|89,958|(127,991)||(9,126)|
|FSD Africa|||||32|39,619|(37,161)||2,490|
|GCA Standards|||||89|9,340|(9,573)||(144)|
|GIZ ASEAN|||||6,349|192,907|(192,907)||6,349|
|Growald
Foundation|||||49,690||(57,625)||(7,935)|
|IPSF GIZ|||||625|162,615|(137,205)||26,035|
|The Children's
Investment|||Fund|||779,966|(779,966)|||
|The
Foreign
Commonwealth||||and||||||
|Development
Office||||||83,137|(83,136)|||
|UK PACT —Columbia||||||374,827|(374,827)|||
|UK PACT China||||||319,153|(319,173)||(20)|
|UK PACT —India||||||95,410|(95,410)|||
|IPSF GIZ 2021/22
Laudes Foundation|2021-23|||||111,612
13,367|(111,612)
(13,537)||(170)|
|New Venture
Fund||||||10,424|2,540||12,964|
|Total restricted funds|||||130,057|3,201,761|(3,224,224)||107,594|
|General
Funds|||||173,883|3,341,836|(1,885,902)||1,629,817|
|Total unrestricted|funds||||173,883|3,341,836|(1,885,902)||1,629,817|
|Total funds|||||303,940|6,543,597|(5,110,126)||1,737,411|
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|Current Year|Current Year|||Creditors||
|---|---|---|---|---|---|
|||Fixed|Current|due within||
|||Assetsf|assets|one year
6|Total
6|
|Restricted|Funds||75,632||75,632|
|Unrestricted|funds|87,857|7,002,248|(4,943,202)|2,146,903|
|Total funds||87,857|7,077,880|(4,943,202)|2,222,535|
|Prior Year||||Creditors||
|||Fixed|Current|due within||
|||Assets|Assets|one year|Total|
|Restricted|Funds||107,594||107,594|
|Unrestricted|funds|25,145|4,405,729|(2,801,057)|1,629,817|
|Total funds||25,145|4,513,323|(2,801,057)|1,737,411|
##
|econciliation
of ne|t income to|net cash flow from operatin|g
activities||
|---|---|---|---|---|
||||2022f|2021
E|
|Net movement
in funds for the year|||485,124|1,433,471|
|Bank interest||||(7)|
|Depreciation
and amortisation|||16,806|38,282|
|(Increase)
in debtors|||(48,837)|(504,055)|
|Increase
in creditors|||2,142,145|1,109,172|
|Net cash provided|by operating|activities|2,545,238|2,076,863|
##
##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
|||Notes|Funds|Funds|2021|
||||6|6|6|
|Income from:||||||
|Charitable
activities
Bank interest||2
3|3,064,491
7|3,201,761|6,266,252
7|
|Other trading
income||4|277,338||277,338|
|Total Income|||3,341,836|3,201,761|6,543,597|
|Expenditure
on:||||||
|Charitable
activities
Trading activities||5|1,733,505
152,397|3,224,224
-|4,957,729
152,397|
|Total expenditure|||1,885,902|3,224,224|5,110,126|
|Net income||9|1,455,934|(22,463)|1,433,471|
|Transfers
between|funds|||||
|Net llllovement
in Funds|||1,455,934|(22,463)|1,433,471|
|Reconciliation ofFunds:||||||
|Total funds brought|forward||173,883|130,057|303,940|
|Total funds carried|forward||1,629,817|107,594|1,737,411|