## **The Community Land Trust Network Trustees Annual Report and Accounts 2020 - 2021**
## **Legal and administrative details**
The National Community Land Trust Network is a Charitable Incorporated Organisation, registered on the 7th May 2014.
**Working name:** Community Land Trust Network
**Charity number:** 1156952 **Registered Office:** CAN Mezzanine, 7-14 Great Dover Street, London, SE1 4YR **Bank:** The Cooperative Bank, P.O. Box 101, 1 Balloon Street, Manchester, M60 4EP **Accountants:** Burton Sweet, Cooper House, Lower Charlton Estate, Shepton Mallet, BA2 5QE
## **Trustees and senior management**
## **Trustees**
Baroness Bakewell of Hardington Mandeville MBE (Chair of Trustees) Jo Lavis (Vice Chair, Retired November 2020) Steve Hoey (Vice Chair) Colin Glen Ian Crawley (Retired November 2020) Julie Abbey-Taylor Nicholas Boys-Smith Pam Johns (Retired November 2020) Paul Kelly Peter Duncan Helen Lawrence Vanessa White
## **Senior Management Team**
Tom Chance, Catherine Harrington Chief Executives Samantha Jones Head of Community Led Homes Programme Rachel Chance Finance and Operations Manager Beth Boorman Communications Manager
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## **Trustees' annual report**
The Trustees present the Trustees' Annual Report and Financial Statements for the year ended 31 March 2021. The Trustees confirm that the Annual Report and Financial Statements comply with the current statutory requirements, the requirements of the company's governing documents and the provisions of the Statement of Recommended Practice (SORP) applicable to charities.
## **Structure, governance and management**
The Community Land Trust Network CIO is a registered Charitable Incorporated Organisation, number 1156952. The governing document is the Community Land Trust Network CIO constitution.
The Community Land Trust Network is a membership organisation. Our membership consists of Community Land Trusts in England and Wales. We also have non-voting members which are unincorporated community groups aiming to establish a Community Land Trust, and associate members which consist of other voluntary organisations, local authorities and private sector bodies which support and work with Community Land Trusts.
The Community Land Trust Network is governed by its Board of Trustees, which is elected at General Meetings by its members on a one-member one-vote basis. A majority of Trustees must also be a member of a Community Land Trust which, in turn, is a member of the organisation. The Constitution provides for a minimum of three Trustees to a maximum of nine Trustees, of which no more than three can be non-members. All Trustees give up their time freely and no Trustee remuneration is paid.
The Board has one subcommittee, the Finance Committee, consisting of Trustees advised by members of the Senior Management Team. It meets in advance of Board meetings to scrutinise finances in greater detail and make recommendations to the Board as appropriate.
professional connections on a register of interests. At the start of each meeting, declarations are made for any potential conflicts of interest and the relevant Trustee recuses themselves from any decisions that the charity must make regarding a conflict of interest.
Day-to-day management of the organisation is delegated to the Chief Executive, who meets with the Senior Management Team and the whole team on a regular basis. Activities are carried out within the parameters of a Business Plan approved by the Board of Trustees.
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## Objectives and activities
The charitable purposes of the Community Land Trust Network, as set out in our Constitution, are:
training, assistance with funding and other services or support that enhance the quality and work of CLTs (or prospective CLTs) which are (or will be) (i) established for exclusively charitable purposes in accordance with the law of England and Wales; and/or (ii) Voluntary Bodies (as defined below), and in particular to:
hostels or other accommodation through CLTs;
b. advance education and vocational training and the creation of education and employment opportunities by supporting CLTs which provide workspace, buildings and/or land for use on favourable terms;
c. promote the maintenance, improvement or provision of public amenities by supporting the work of CLTs which undertake this work for the public benefit;
d. assist in the provision of facilities for recreation or other leisure time occupation in the interests of social welfare with the object of improving the condition of life of local communities by supporting the work of CLTs who make such facilities available;
e. advance environmental protection or improvement by supporting the work of CLTs which promote the preservation and enhancement of open green spaces; and
Such other exclusively charitable purposes as may be from time to time determined by the charity Trustees.
through the following strategic objectives:
Objective 1: To campaign for a more supportive local, regional and national policy environment.
Objective 2: To raise awareness of CLTs.
Objective 4: To provide services and support to CLTs.
Objective 5: To develop the market for CLTs.
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Objective 6: To develop the Community Land Trust Network as a sustainable organisation.
The Board of Trustees has considered the Charity Commission’s guidance on public benefit and can confirm that this was referred to when reviewing the Community Land Trust Network’s goals, objectives and activities and in planning future activities.
## Key achievements
Our key achievements are presented according to the strategic objectives agreed by the Board of Trustees in its business plan for 2019-20.
Strategic objective 1 – to campaign for a more supportive local, regional and national policy environment
Our main focus in 2020/21, as in the previous year, was to secure the extension of the Community Housing Fund in England, which opened in July 2018 but closed outside London in December 2019. The fund was an enormous success, stimulating a potential pipeline of over 23,000 community led homes. In January 2021 we succeeded in securing the announcement of a further £4 million for the Community Housing Fund for 2021/22, and subsequently worked with the government on the design and implementation of this policy. The fund opened for bids in August 2021, run by the Community Led Homes partnership and with the Community Land Trust Network as the lead partner.
In the course of working to secure this fund, we commissioned a key piece of research from Capital Economics examining the value for money of community led housing using the HM Treasury Green Book methodology. This research found that community led housing, including CLTs, secures medium to high value for money – the longer term social welfare benefits raising it to a high return.
who were drafting the Ground Rents Bill to help them understand the issues for CLTs. The bill was published in May 2021 and included the exemption from the ban on ground rents for CLTs that we had sought. This will protect the popular partnership model between CLTs and housing associations.
Finally, we published an updated survey of local authority support for CLTs and community led housing. This found growing support in terms of policies, dedicated staff, grants, loans and land disposals. But still, a majority of local authorities are not supporting CLTs as fully as they might.
This core work was funded by the Esmée Fairbairn Foundation, the Nationwide Foundation and by our membership fees.
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## Strategic objective 2 - to raise awareness of CLTs
Opportunities to raise awareness through events and public speaking were seriously curtailed in 2020/21 by the COVID-19 pandemic. But staff did speak at a growing number of events online, including supporting CLTs and enabler hubs to raise awareness locally.
Trustees took a decision that this objective should be de-prioritised, due to a squeeze on team capacity. We felt that with the growing success of enabler hubs at the local level, there was less need for the national charity to dedicate so many resources to this area of work.
services to CLTs
With the generous support of Power to Change, we retained our 1 full-time-equivalent team focused on this objective. They supported 26 enabler hubs, delivering one-to-one support and bringing them together in an effective and lively online peer network and supporting them to adapt and learn through the COVID-19 pandemic.
Change through the Homes in Community Hands programme. This work saw substantial progress being made in the West of England, West Midlands, Leeds and Liverpool city regions, while we worked with stakeholders in the Tees Valley region to get their work off the ground.
At the end of the year, enabler hubs with access to trained and accredited advisers covered 90% of England and Wales. There remains a challenge to develop all enabler hubs to the point where they have the right skills and experience to handhold CLTs through complex and lengthy projects and to develop this service into a financially sustainable social enterprise.
## Strategic objective 4 - to provide services and support to CLTs
The COVID-19 pandemic transformed the way that we deliver services and support to CLTs. We have previously relied on physical events and struggled to attract our members to webinars and online networking meetings. But as we all became familiar with online meetings, members started to flock to online events. Our monthly webinars, delivered with our corporate partners – Ecology Building Society, Triodos Bank, Anthony Collins Solicitors and Wrigleys Solicitors – drew substantial audiences. We also held successful online networking meetings and briefings on subjects including the Community Housing Fund.
The Cohesive Communities Fund was severely impacted by COVID-19. The project was based around two strands: a core grant to help CLTs engage their wider community and develop their project; and residential events for training, peer learning and support. The
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funded CLTs struggled to adapt their community engagement to the cycle of lockdowns, and especially to reach parts of their community that wouldn’t readily join an online meeting advertised on social media. But a review of the work in the year found considerable innovation in overcoming these challenges, and many CLTs took on a central role in helping their communities to cope with the pandemic. The residential events were cancelled, and attempts to replicate them online were not very successful – they are the sorts of events one really needs to do in person. So, with the agreement of the project funders - M&G Investments and Power to Change – we carried a substantial portion of the funding over into 2021/22 and rescoped the project.
## Strategic objective 5 - to develop the market for CLTs
housing associations, developers and landowners. Their awareness and understanding of CLTs, and their willingness and ability to support and partner with CLTs, are key to the success of many of our members.
The main piece of work in this area was the publication of a new guide to partnerships between housing associations and community led housing groups, including CLTs. We secured the endorsement of the National Housing Federation, the Rural Housing Alliance, Placeshapers and HACT, giving greater confidence to housing associations. We launched the guidance in an event organised with Placeshapers and began to promote it to CLTs and housing associations.
sustainable organisation
This was an extremely challenging year for the charity for two reasons.
Trustees and senior staff made the latter our highest priority for the year, and extra support was put in place including access to an Employee Assistance Programme, training in personal resilience and a budget to help staff with homeworking. We are enormously grateful to the staff for their flexibility and dedication, carrying on their work throughout the year in spite of all the personal challenges. Compared to many charities, much of our work was relatively unaffected by the pandemic. But we did see a dip in membership and events income.
The second challenge was the decision of the Board of Trustees to restructure the charity’s staff, with the twin aims of putting the charity on a financially sustainable path, and developing a more flexible and responsive staff structure. The formal consultation process was launched with staff in November 2020 and concluded in December. Three staff took redundancies, and one fixed-term contract was allowed to end without renewal. The new staff structure was implemented in January 2021 and all notice periods had been served by the end of the financial year.
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The Trustees are particularly grateful to the Tudor Trust and Nationwide Foundation for small, unsolicited grants awarded in this year to support our staff welfare during the pandemic. In such a testing year, it enabled the charity to pay for the extra support referred to above, and further support for the Chief Executive in leading the charity through this turbulent period.
We would also like to note our thanks to Catherine Harrington, who took the decision to leave the charity through the restructuring process, having led the network since its formation in 2010 and its incorporation as a charity in 2014. She is succeeded in the role by Tom Chance, who performed the Chief Executive role in a job-share with Catherine during 2020/21.
## Financial review
## Unrestricted income
£(84,292), which was met by the general fund reserves carried forward from 2019/20. Trustees adopted a budget at the start of the year forecasting a larger deficit, and successful fundraising and cost control throughout the year brought the deficit down to a more manageable level.
Taking into account the reserves brought forward from 2019/20, the Community Land Trust Network ended 2020/21 with total unrestricted funds of £459,935.
Of those funds, the Trustees have retained £212,500 in a designated fund agreed in 2020/21 for development. Trustees agreed to commit up to £35,000 of this to the development of a new website in 2021/22, and to review options for deploying this fund in pursuit of our charitable objectives in the next financial year. The Trustees have also increased the designated cash flow fund to £103,705 to cover the negative balance of the SHICC project described below.
This leaves £143,730 in general unrestricted funds. This meets the requirements of the updated Reserves Policy adopted by the Board of Trustees in January 2021 noted below.
balanced unrestricted budget for 2020/21.
## Restricted income
The Community Land Trust Network received a total of £203,810 of grant income in 2020/21 that it then disbursed to CLTs, regional Community Led Housing Enabler Hubs and project partners, less staff & overhead costs and project expenses.
The CLT Start Up Fund closed to applications in 2018/19 and the project concluded in 2019/20. The CLH National Infrastructure project concluded in 2019/20, and we carried a small balance from each into 2020/21. With the agreement of funders, we wound the project up and transferred the remaining balance to our core unrestricted funds.
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We concluded our work on the Sustainable Housing for Inclusive and Cohesive Cities (SHICC) project, funded by North West Europe Interreg. We claimed back expenditure nine months in arrears, so the project closed with a negative balance. This is covered by the designated cash flow fund described above.
The Community Housing Fund concluded in 2019/20, and we carried a balance into 2020/21. This funded the purchase of bespoke software for enabling hubs, with the agreement of funders, and the project closed by the end of the financial year.
The Cohesive Communities Fund began in 2019/20 and was intended to end in 2020/21. As noted above, the COVID-19 pandemic forced a change of plan and so the project carried forward a balance of £60,518 into a third year.
Power to Change funded the Community Led Homes partners through a Strategic Partnership grant, which the Community Land Trust Network holds on behalf of the partners. This grant was received late in 2020/21 and carried over to 2021/22 for planned expenditure in that year.
activities of awareness raising, advocacy and member support. The funder requested that this appear in our accounts as a restricted fund.
## Reserves policy
The Trustees agreed a reserves policy in January 2020, updated in January 2021, considering the following factors:
- The organisation’s risk register
- The nature of our funds, and prospects for future income streams
- redundancy provisions;
- The organisation’s obligation to maintain a safe and clean working environment;
- The organisation’s obligation to fund negative cash balances of restricted projects;
- That certain equipment is essential for the organisation’s work.
For 2020/21 the Trustees agreed a minimum reserve level of £71,000 and a target reserve level of £143,730. Unrestricted funds above this level were transferred to our designated Cash Flow Fund and Development Fund.
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## **Independent examiner’s report to the trustees of National CLT Network CIO**
I report to the trustees on my examination of the accounts of National CLT Network CIO (the Charity) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Joshua Kingston BSc ACA**
Burton Sweet Limited, Chartered Accountants Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE
Date: 20 October 2021
## **NATIONAL CLT NETWORK CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 MARCH 2021**
|**Note**
**Income from:**
Charitable activities
**4**
**Total income**
**Expenditure on:**
Charitable activities
**5**
**Total expenditure**
**Disposal of assets**
**Total funds at start of year**
**14**
**Total funds at end of year**
**14**
**Net income/(expenditure)**
**and net movement in funds**
**Transfers between funds**|**Unrestricted**
**Funds**
**£**
310,104
310,104
394,396
394,396
(84,292)
(28,656)
340
572,543
459,935|**Restricted**
**Funds**
**£**
203,810
203,810
330,339
330,339
(126,529)
28,656
-
84,686
(13,187)|**Total Funds**
**2021**
**£**
513,914
513,914
724,735
724,735
(210,821)
-
340
657,229
446,748|Total Funds
2020
£
4,824,673
4,824,673
4,512,270
4,512,270
312,403
-
-
344,826
657,229|
|---|---|---|---|---|
The Charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
**The notes on pages 12 to 20 form part of these financial statements See note 9 for fund-accounting comparative figures**
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## **NATIONAL CLT NETWORK CIO**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2021**
|**Note**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Liabilities**
Creditors : amounts falling
due within one year
**12**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**FUNDS**
Unrestricted funds
Restricted funds
**Total funds**|**2021**
**£**
3,255
3,255
24,641
467,802
492,443
(48,950)
443,493
446,748
446,748
459,935
(13,187)
446,748|2020
£
3,155
3,155
87,611
680,838
768,449
(114,375)
654,074
657,229
657,229
572,543
84,686
657,229|
|---|---|---|
These financial statements were approved by the Trustees on 20 October 2021 and are signed on their behalf by:
## Catherine Bakewell
Baroness Bakewell of Hardington Mandeville MBE, Chair of Trustees
**The notes on pages 12 to 20 form part of these financial statements**
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## **NATIONAL CLT NETWORK CIO**
## **CASH FLOW STATEMENT**
## **YEAR ENDED 31 MARCH 2021**
|**Note**
**Cash inflow from operating activities**
Net income / (expenditure)
**Adjustments for:**
Depreciation
Accrued Expenses
**Changes in:**
Trade & Other Debtors
Trade & Other Creditors
Cash generated from operations
Net cash from operating
**Investing activities**
Payments for tangible fixed assets
Net cash from operating activities
Net increase/(decrease) in cash equivalents
Cash & Cash equivalents at the beginning of the year
Cash & Cash equivalents at the end of the year|**2021**
**£**
(210,481)
1,084
9,288
62,970
(74,713)
(211,852)
(211,852)
(1,184)
(1,184)
(213,036)
680,838
467,802|2020
£
312,403
2,814
18,540
(68,883)
(1,356,244)
(1,091,370)
(1,091,370)
(1,256)
(1,256)
(1,092,626)
1,773,464
680,838|
|---|---|---|
## **Cashflow Restrictions**
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.
**The notes on pages 12 to 20 form part of these financial statements**
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**NATIONAL CLT NETWORK CIO NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2021**
## **1 General information**
The charity is a charitable incorporated organisation, a registered charity in England & Wales. The address of the registered office is 7-14 Great Dover Street, London, SE1 4YR
## **2 Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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)) and the Charities Act 2011.
## **3 Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity’s ability to continue
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably
- Legacy income is recognised when receipt is probable and entitlement is established
- Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
12
## **NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
- Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
IT & Office equipment - 25% reducing balance
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## **NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
## **4 Income from: Charitable activities**
|Grant income
Consultancy Income
General Income
Sponsorship
Membership Fees
CLT Services
**Prior year comparatives**
Grant income
Consultancy Income
General Income
Sponsorship
Membership Fees
CLT Services|**Unrestricted**
**Funds**
**£**
213,172
29,805
5,022
12,500
45,967
3,638
310,104|**Restricted**
**Total Funds**
**Funds**
**2021**
**£**
**£**
203,810
416,982
-
29,805
-
5,022
-
12,500
-
45,967
-
3,638
203,810
513,914
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
97,002
4,585,642
23,279
-
40,596
-
23,325
-
54,475
-
354
-
239,031
4,585,642|Total Funds
2020
£
4,682,644
23,279
40,596
23,325
54,475
354
4,824,673
**Total Funds**
**2020**
**£**
4,682,644
23,279
40,596
23,325
54,475
354
4,824,673|
|---|---|---|---|
General income is received to provide communication and administrative services to the UK Cohousing Network .
Consultancy is to deliver events, training and consultancy to raise awareness of and support the development of community land trusts.
An analysis of restricted income is set out in Note 14
14
**NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
## **5 Expenditure on: Charitable activities**
|**Unrestricted**
**Fuds**
**£**
Grants & Bursaries
-
Project partner costs
6,000
CLT services costs
15,127
Staff Costs
445,785
Overheads - general
33,344
Overheads - governance costs
10,297
Depreciation
1,084
Events
-
Publications & Materials
1,485
Research
35,500
Services - Legal, accountancy, Consultancy
14,959
Staff Travel, accommodation & Subsistence
305
Website development, hosting & maintenan
12,197
Bad debts
(675)
Subtotal
575,408
Contribution to staff & overheads
(181,012)
394,396
**Prior year comparatives**
Grants & Bursaries
Project partner costs
Member services costs
Staff Costs
Overheads
Depreciation
Events
Publications & Materials
Research
Services - Legal, accountancy, Consultancy
Staff Travel, accommodation & Subsistence
Website development, hosting & maintenance
Bad debts
Subtotal
Contribution to staff & overheads|**Restricted**
**Total Funds**
Total Funds
**Funds**
**2021**
2020
**£**
**£**
£
63,240
63,240
3,121,434
-
6,000
715,824
-
15,127
11,872
-
445,785
467,682
-
33,344
59,421
-
10,297
-
-
1,084
2,814
720
720
29,648
100
1,585
7,507
11,075
46,575
4,000
74,192
89,151
79,254
-
305
11,466
-
12,197
523
-
(675)
825
149,327
724,735
4,512,270
181,012
330,339
724,735
4,512,270
**Unrestricted**
**Restricted**
**Total Funds**
**Fuds**
**Funds**
**2020**
**£**
**£**
**£**
-
3,121,434
3,121,434
715,824
-
715,824
11,872
-
11,872
467,682
-
467,682
58,503
918
59,421
2,814
-
2,814
5,738
23,910
29,648
7,214
293
7,507
-
4,000
4,000
12,558
66,696
79,254
3,424
8,042
11,466
475
48
523
825
-
825
1,286,929
3,225,341
4,512,270
(636,429)
636,429
650,500
3,861,770
4,512,270|
|---|---|
Services – legal, accountancy, consultancy include the fee for the external audit of the financial statements of 2021: N/A (2020: £5,040) and fees (£68,876) for specialist bespoke software purchased on behalf of local community housing enabling hubs to allow financial viability calculations of group's schemes. This was funded by income received in the previous year from grant funders and subscriptions from hubs.
Overheads - governance costs" includes board expenses, board training, the fees for producing the annual accounts and AGM costs.
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**YEAR ENDED 31 MARCH 2021**
## **NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **6 Staff costs and numbers**
The aggregate payroll costs were:
|Wages & salaries
Social security costs
Pension contributions
Other employee benefits|**2021**
**£**
393,017
28,807
21,532
2,429
445,785|2020
£
414,276
30,379
19,001
4,026
467,682|
|---|---|---|
One employee received emoluments of more than £60,000, this included a redundancy payment.
The average weekly number of employees during the year was 12 (2020: 7.5)
## **7 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **8 Trustee remuneration and expenses**
No consultancy fees, remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
Trustee were reimbursed £0 (2020: £1842) for reasonable travel expenses incurred in the year.
## **9 Statement of Financial Activities comparative figures**
|**For the year ended 31 March 2020**
**Income from:**
Charitable activities
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income/(expenditure) for the year**
**and net movement in funds**
**Transfers**
**Total funds at start of year**
**Total funds at end of year**|**Unrestricted**
**Funds**
**£**
239,031
239,031
(65,324)
(65,324)
1,189
266,999
572,543
304,355|**Restricted**
**Funds**
**£**
4,585,642
4,585,642
4,577,594
4,577,594
(1,189)
77,827
84,686
8,048|**Total Funds**
**2020**
**£**
4,824,673
4,824,673
4,512,270
4,512,270
-
344,826
657,229
312,403|
|---|---|---|---|
16
## **NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
|**10 Tangible fixed assets**
**Cost or valuation**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
Disposals
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020
**11 Debtors**
**Due in less than one year:**
Trade debtors
Prepayments and accrued income
**12 Creditors: amounts falling due within one year**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income|**IT & Office**
**Equipment**
**£**
11,824
1,184
-
13,008
8,669
1,084
-
9,753
3,255
3,155
**2021**
**£**
7,316
17,325
24,641
**2021**
**£**
29,968
7,131
2,563
9,288
48,950|**Total**
**£**
11,824
1,184
-
13,008
8,669
1,084
-
9,753
3,255
3,155
2020
£
18,735
68,876
87,611
2020
£
84,297
8,064
3,474
18,540
114,375|
|---|---|---|
## **13 Pensions and other post-retirement benefits**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £21,532 (2020: £19,001).
17
## **NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 MARCH 2021**
## **14 Movement in funds**
|**For the year ended 31 March 2021**
**Restricted funds**
CLT Start-up Fund
SHICC (North West Europe interreg)
CLH Infrastructure project (Nationwide Foundation)
CHF
Cohesive Communities fund
Power to Change Strategic Partnership Grant
Core Funding (Nationwide Foundation)
**Unrestricted funds**
General funds
Designated fund - Development
Designated fund - Cash flow|**At 1 Apr**
**2020**
**£**
23
(77,459)
22,762
49,834
89,527
-
-
84,687
415,083
80,000
77,460
572,543
657,230|**Grants**
**Received**
**£**
5,095
108,715
-
-
-
30,000
60,000
203,810
**Income**
**£**
250,444
-
-
250,444
454,254|**Grants &**
**Bursaries**
**Paid**
**£**
(1,118)
(71,890)
-
-
9,768
-
-
(63,240)
**Expenditure**
**£**
(334,396)
-
-
(334,396)
(664,735)|**Activities**
**Salaries**
**& Overhead**
**Contribution**
**£**
(3,000)
(63,070)
(22,418)
(49,834)
(38,777)
(30,000)
(60,000)
(267,099)|**Transfers**
**£**
(1,000)
-
(344)
-
-
30,000
-
28,656
**Transfers**
**£**
(187,401)
132,500
26,245
(28,656)
-|**At 31 Mar**
**2021**
**£**
-
(103,704)
-
-
60,518
30,000
-
(13,187)
143,730
212,500
103,705
459,935
446,748|
|---|---|---|---|---|---|---|
Two major funding projects have come to an end this year, so surplus generated in general funds has been transferred to the Development fund. Some funds have been released to General Funds to build the new website.
We have designated £103,705 to cover cash needed to cover the Interreg project deficit. Expense claims are submitted at the end of six month periods and are paid back to the charity nine months in arrears of the expenses being accrued. We will continue to contribute to this fund to cover the deficit until May 2021 when we will receive our final payment.
## **Restricted funds**
The Start Up Fund came to an end this year and, as agreed with funders, the balance was transferred to our general funds.
The Community Housing Fund (CHF) and CLH Infrastructure project came to an end, the final activity costs were on bespoke software to allow enabling hubs to provide financial viability assessments for local groups. The CHF ended with a balance of zero. The CLH Infrastructure project balance, as agreed with funders, was transferred to our general funds.
The SHICC project activity came to an end. Project Grant Income is received in arrears. The negative project balance is covered by our designated Cash Flow fund.
The Cohesive Community fund seeks to unlock the skills and capacity within the Community Land Trust (CLT) movement by providing financial and practical support through grants and training
The Power to Change Strategic Partnership Grant is funded by Power to Change . Its objective is to support the Community Led Homes partnership with its work on policy development, communications, membership and strengthening the wider communityled housing movement.
The Core Funding (Nationwide Foundation) was to fund staff time.
18
## **NATIONAL CLT NETWORK CIO**
## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021**
14 **Movement in funds (continued)**
|**For the year ended 31 March 2020**
**Restricted funds**
CLT Start-up Fund
See it & Believe It (The Tudor Trust)
Umbrella Fund (The Tudor Trust)
SHICC (North West Europe interreg)
CLH Infrastructure project (Nationwide
Foundation)
UK Cohousing
CHF
Cohesive Communities fund
**Unrestricted funds**
General funds
Designated fund - Development
Designated fund - Cash flow|**At 1 Apr**
**2019**
**£**
38,293
1,642
1,131
(58,146)
44,396
-
50,512
77,828
128,853
80,000
58,146
266,999
344,827|**Grants**
**Received**
**£**
92,482
31,768
4,000,000
461,392
4,585,642
**Income**
**£**
875,460
-
-
875,460
5,461,102|**Grants &**
**Bursaries**
**Paid**
**£**
(21,154)
(11,917)
(2,759,335)
(329,100)
(3,121,506)
**Expenditure**
**£**
(571,105)
-
-
(571,105)
(5,148,699)|**Project**
**Parter**
**Costs**
**£**
(715,824)
(715,824)|**Activities**
**Salaries**
**& Overhead**
**Contribution**
**£**
(17,116)
(1,584)
(99,878)
(53,402)
(525,519)
(42,765)
(740,264)|**Transfers**
**£**
(58)
(1,131)
-
(1,189)
**Transfers**
**£**
(18,125)
-
19,314
1,189
-|**At 31 Mar**
**2020**
**£**
23
-
-
(77,459)
22,762
-
49,834
89,527
84,686
415,083
80,000
77,460
572,543
657,229|
|---|---|---|---|---|---|---|---|
19
**NATIONAL CLT NETWORK CIO**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2021**
## **15 Analysis of net assets between funds**
|**As at 31 March 2021**
Tangible fixed assets
Current Assets
**As at 31 March 2020**
Tangible fixed assets
Current Assets|**Unrestricted**
**Funds**
**£**
3,255
456,680
459,935
**Unrestricted**
**Funds**
**£**
3,155
569,388
572,543|**Restricted**
**Funds**
**£**
-
(13,187)
(13,187)
**Restricted**
**Funds**
**£**
-
84,686
84,686|**Total**
**£**
3,255
443,493
446,748
**Total**
**£**
3,155
654,074
657,229|
|---|---|---|---|
## **16 Related party transactions**
There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.
20