Trustees’ Annual Report and Financial Accounts For the year ended 31 December 2024
Charity Registration No. 1168721
Contents
| Contents | Contents |
|---|---|
| Trustees’ Annual Report and Financial Accounts For the year ended 31 December 2024 .......................................... 1 | |
| 1. | Reference and Administration Details .................................................................................................... 3 |
| 2. | Chair’s Foreword ..................................................................................................................................... 4 |
| 3. | Objectives and Activities ......................................................................................................................... 5 |
| 4. | Achievements and Performance ............................................................................................................. 7 |
| 5. | Measuring Our Impact ............................................................................................................................ 9 |
| 6. | Structure, Governance and Management .............................................................................................. 9 |
| 7. | Financial Review ....................................................................................................................................10 |
| 8. | Statement of Trustees’ Responsibilities in Relation to the Financial Statements ................................12 |
| 9. | Statement of Financial Activities ..........................................................................................................13 |
1. Reference and Administration Details
Charity name Charity IT Association
Charity number 1168721 Charity Registered Office 86-90 Paul Street London EC2A 4NE Trustees Ian Henderson Steve Smith Dominic Aslan Chair Ann Woodley Harinder Grewal Donna Chivers Steve Cant
CEO (Voluntary) Stephen Arnison CEO – Appointed January 2025
Bankers NatWest Bank Limited 134 Aldersgate Street London EC1A 4JA
Accounts Independently: In England and Wales, a charity must arrange for an independent examination of its accounts if its annual income exceeds £25,000. Our annual income does not exceed this figure.
2. Chair’s Foreword
2024 was a challenging year in many respects. First, we continued to struggle securing grant funding. Our role as an intermediary - a charity that helps charities makes it very difficult to demonstrate direct social impact and this in turns in affect our ability to attract grant funding. As a result of diminishing funds, we had to let our paid Office Manager go and to revert to full-time volunteer led operations. Unfortunately, our manager’s departure left us with some serious handover challenges.
These meant that the number of new volunteers was down compared with previous years. Consequently, matching those volunteers with opportunities from charities needing help lost some momentum, However, but by the end of the year we were seeing more volunteers register with us and more charity requests coming in.
On a more positive note, we were able to consolidate our system for matching volunteers with requests from charities - the system we call “matchbot”, and the volunteer Trustees invested time and energy in getting on cleaning up the data and in mastering the operational processes.
Perhaps more importantly we were able to recruit a new volunteer CEO in the shape of Stephen Arnison. Stephen is a proven, commercially focused leader with extensive experience accelerating revenue growth and scaling SaaS, Data Analytics & Technology businesses profitably. He has a strong IT background and currently leads the large customer business (5,000+ FTE) and strategic partnerships at Brightmine, a provider of people data, analytics and HR insights, while also leading several commercial initiatives across multiple Lexis Nexis Risk Solutions - Data Services businesses.
The charity continues to be supported by a stable group of diverse Trustees from a variety of backgrounds who support the Charity in a variety of ways.
The charity continued to operate its highly successful Odessey Program in partnership with the Royal Signals with another cohort of mentees passing through the programme during the year.
The real strength of the charity (in addition to the Odyssey Program) is its ability to appeal to volunteers (and we have a lot on our books -see below) who are willing to donate their time and IT expertise in the ongoing quest to improve charities’ efficiency and effectiveness by getting the best out of their IT resources.
3. Objectives and Activities
The Charity’s Aim is:
To promote for the public benefit the efficiency and effectiveness of charities and notfor- profit organisations through the provision of education and training in information technology and the implementation of related projects.
Our aim is to help charities, but also to help with the challenge of IT. Technology can be challenging for small organisations without in-house expertise, and CITA can be an immensely valuable, trusted partner.
How our Objectives Deliver Public Benefit:
The trustees confirm that they complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity's Commission general guidance on public benefit "Charities and Public Benefit".
We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our activities. The trustees have considered how planned activities will contribute to the aims and objectives they have set. CITA’s work benefits a wide range of other charities across the United Kingdom.
Our main objectives are to:
-
Provide advice to charities on a wide range of IT issues through matching them with a volunteer
-
Equip our volunteers with advice and resources to increase the value of their efforts and time
-
Develop other forms of IT support for charities, according to identified need
-
Evaluate the impact of our service on beneficiaries to inform the future development of our services
Charities
CITA introduces charities looking to improve their technology capabilities to volunteers with appropriate IT skills and experience. Our vision is a world in which charities can harness the full potential of technology to increase their impact for good. We help to achieve this by providing charities with access to affordable, trustworthy, and independent technology services to allow them to achieve their own strategic mission.
Services
We facilitate the following services to deliver against these objectives:
CITA Review service offers a short IT assessment giving independent advice to identify and qualify potential IT projects and initiatives, that will support their strategic and operational objectives.
CITA Advisory service provides IT Project Management support and advice helping charities to define, plan and manage identified IT projects from scoping to completion. CITA Delivery service provides the right technical skills needed to deliver a successful IT project.
Volunteers
CITA’s volunteers are the lifeblood of the organisation. All CITA’s services are provided by experienced IT professionals who have volunteered their time, skill and commitment to help charities make better use of IT and to be more effective and efficient in the digital world.
CITA volunteers benefit from gaining greater experience and exposure to IT issues and concerns, as well as knowing that they are indirectly helping people in need of charity support. They ultimately assist the client charities in delivering more benefit to their end beneficiaries.
4. Achievements and Performance
While we help a diverse portfolio of charities and a range of causes, and we focus on supporting those charities most excluded by digital barriers. Unsurprisingly these tend to be smaller charities:
-
40% of the charities we work with have an annual income of less than £100k, and 69% have an annual income of less than £500k.
-
66% of the charities we work with have 10 or fewer employees,
-
79% have no dedicated IT resource.
We think this shows clear need for IT support to this type of Charity, which all face similar IT Challenges:
-
Outdated operating systems, and obsolete IT equipment
-
Lack of experience, expertise, and awareness of what IT could do for them.
-
Lack of awareness of issues and risks associated with their IT Infrastructure
The demand for our support is steady but we want to reach more of those organisations most in need, who are working with the most vulnerable groups in society. That’s where we can have the greatest impact.
At December 2024 we had 1348 charities registered with us (1286 a year earlier). Of these:
-
178 (169) support Elderly People
-
778 (506) support Children and young people
-
156 (73) support People with physical impairments, learning difficulties or mental health challenges.
-
172 (409) support Social welfare
-
593 (452) support Education and learning.
Operationally we use a software platform to connect charities and our volunteers. This platform is based on freely available web-based CRM software (Monday.com). This software allows for:
-
Workflow automation (e.g. on boarding of volunteers, qualification of charities)
-
Automated integration with e-mail.
-
A user-friendly online interface where volunteers can register and express an interest in a volunteering opportunity
-
A similar interface for charities to register and to suggest projects or assignments
-
Access via the CITA website.
The matching platform was developed during 2022-23, utilising our internal team and volunteer resources, but this really means “configuring” the off-the-shelf Monday.com solution. In 2024 the fully configured new matching system, which we call “Matchbot”, was put into service with the aim of scaling up and expanding our reach to help many more charities. However, achieving these aims was hampered by the loss of funding and our office manager / administrative support – as outlined in the Chair’s forward.
“Matchbot” would, of course, achieve nothing with our volunteers. By the end of 2024, CITA had 1006 volunteers registered and approved, up from 988 the previous year. Not
every volunteer is active of course, but those that are provided an estimated 400 days of free IT consultancy and support to charities (somewhat lower than 2023). We have over 1348 approved charities on our books. Not all these have an active project but during 2024 30 charities across the UK, requested specific help, resulting in 34 projects of various kinds: These volumes are somewhat down compared with 2023 for reasons explained elsewhere.
The Odyssey Mentoring Scheme
Our on-going collaboration with the Royal Signals Institute (RSI) via the Odyssey Mentoring Scheme which began in 2020 and has been a great success. This 12-month program enables Royal Signals members to undertake mentored consultancy roles on IT projects, guided by seasoned mentors from the civilian IT industry. The scheme is conducted as an extra-mural activity over a maximum of 12 months (and as little as 6) in a time that suits the key stakeholders; the mentor (CITA volunteer), the mentee (serving person) and the Charity. The mentored consultancy of an ICT project has a clear and positive effect on personal and professional development, and a deliverable outcome in an unfamiliar (non-military) environment.
The scheme is flexible designed not to overburden, but it does demand commitment. Activities and their pace are managed between the mentee and their mentor and sometimes continue beyond the life of this programme. The mentoring program is designed to nurture technical and professional leadership skills and project management abilities while contributing to the charity sector. It's a win-win scenario, with charities benefiting from the tech expertise of Royal Signals members, and the members gaining invaluable experience. The scheme's success is evident in its resounding positive feedback from both mentors and mentees. Some mentees have transitioned to become CITA volunteers, while others have forged profound professional relationships with their mentors, extending their mentorships beyond the program's duration. The Odyssey scheme is available to a wide range of Royal Signals personnel, offering benefits and opportunities for personal and professional growth.
We received feedback from a recent participant in the Odyssey programme as follows: “The mentorship program offered participants an exceptional opportunity to access professional experiences typically unavailable within MOD. Although initial challenges— potentially arising from CITA's workforce issues — temporarily hampered communication and project alignment, subsequent adjustments significantly enhanced collaboration and communication”.
The annual Odyssey programme does not coincide with our reporting year but several mentored projects were begun and completed during the 12 months covered by this report. Conversely several pairs of mentees from Royal Signals and volunteer mentors could not successfully initiate a project. Again, this is probably symptomatic of our administrative challenges during the year, reflected in the comment above. At the same time the military personnel involved in the programme are now on a war footing, meaning that they do not have the capacity for extracurricular activity or it is lower priority. Despite these difficulties the programme is seen as successful by the RSI and the Odyssey programme has been renewed in 2025.
5. Measuring Our Impact
Measuring our “direct” impact is challenging, given that we are an intermediary aimed at helping charities, that themselves help their own beneficiaries. Our effect is secondary and will vary on a case-by-case basis. To address this, we are building a portfolio of case studies, which will focus on the challenges faced by any given charity, how we were able to make a difference and what that meant for the charities’ own beneficiaries. See the box for just one example. It is through our client charities that we impact on vulnerable and disadvantaged people. Our educational initiatives, including advice, workshops, and training, fuel the confidence of staff and volunteers within these organisations, allowing them to better leverage IT to serve their communities in the long run. We
National Ankylosing Spondylitis Society (NASS)
The CITA volunteer audited the existing set up before providing a report addressing a range of concerns, including how to ensure PCI compliance, creating a back-up policy, and moving part of the charity’s network functions to the cloud, via Office 365. The volunteer suggested that Raiser’s Edge could also be migrated to Blackbaud’s Cloud
help increase their digital prowess, their efficiency and effectiveness and thereby increase their social impact.
6. Structure, Governance and Management
Governing Document
CITA is an organisation registered as a charity in England and Wales and was established under a constitution, which created its objects and powers of the charity, and as such is governed by this constitution.
Trustee Board
At the end of 2024, CITA had seven trustees, with no changes during the year to 31 December 2023. CITA's leadership – its Trustees - all have a background in IT at various levels of seniority, whether technical, managerial, or analytical. Typically, they have decades of experience and are also heavily involved in other charitable work. They are ideally placed to bridge the knowledge and communications gap because they can speak both charity and IT languages. The group of 7 Trustees are a diverse group in terms of age, gender and ethnicity.
Management Structure
Our CEO is responsible for the charity’s overall day to day management, reporting to the Chair of Trustees. His primary objective has been to change the operating model of CITA to enable us to ‘do more with less’, these strategic objectives are on the verge of being realised.
Key strategic decisions are taken to the Board of Trustees for approval, and administration is processed by volunteer staff and/or Trustees. The trustees are responsible for the overall strategic direction and sound financial practices within the charity. The Board held meetings on a quarterly basis and received monthly management accounts.
Related Parties
None
7. Financial Review
At the end of 2024 CITA showed cash balance of £1,814 (2023: £5,252). Total income for the year was £5,078 (2023: £12,987), which included £100 (2023: £1,350) for consultancy services.
The financial plan for 2024 was to seek new grant funding, to grow income through direct fees and repeat the mentoring scheme for the Royal Corps of Signals. Despite significant efforts with grant applications, especially in the first half of the year, we were unsuccessful at raising any grant funding. Direct fees from Charities were lower than forecast. The RCS signed a new mentoring scheme for 2024. The office manager left in June 2024 and the trustees have undertaken a drive to significantly reduce costs.
Reserves Policy
Introduction: This Reserve Policy sets out CITA’s approach to holding reserves. It is designed to help the charity manage financial risk, ensure sustainability, and maintain the confidence of donors, beneficiaries, and regulators. The policy aligns with guidance from the Charity Commission for England and Wales.
Purpose of Reserves: Reserves are funds that are freely available to be spent on any of the charity’s purposes. They are held to:
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Ensure the charity can continue its work in the event of unexpected financial difficulty
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Provide a buffer for fluctuations in income or unforeseen expenditure
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Support strategic development or investment in new projects when required.
Types of Reserves: For the purposes of this policy, reserves are defined as unrestricted funds that are readily available for use. This excludes:
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Restricted funds (which can only be used for specific purposes as set by donors or funders)
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Designated funds (earmarked by trustees for particular projects or future commitments)
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Fixed assets (such as property or equipment).
Target Level of Reserves: The Trustees have determined that a prudent level of reserves for CITA is the equivalent of three to six months’ operating expenditure. This period is considered sufficient to cover core running costs, which are currently low and consist of essential services, in the event of a significant loss of income or unexpected costs. CITA currently has no staff costs, rental cost or other major items of recurring expenditure. The exact amount will be reviewed annually and may be adjusted in response to changes in the charity’s circumstances or operating environment.
Monitoring and Review: The Trustees will monitor the level of reserves at each quarterly
board meeting as part of the charity’s financial reporting. Should reserves fall below or rise significantly above the agreed target, Trustees will consider appropriate action, such as adjusting expenditure, fundraising strategies, or investment in charitable activities. A formal review of the Reserve Policy and the target level of reserves will be conducted at least once a year.
Use of Reserves: If reserves are used to meet unforeseen costs, the Trustees will prepare a plan for rebuilding reserves to the target level within a reasonable timeframe. Any use of reserves outside of normal operating expenditure must be approved by the Board of Trustees and clearly minuted.
Transparency and Reporting: The level and purpose of reserves will be clearly stated in the charity’s annual accounts and Trustees’ Report, in line with the Statement of Recommended Practice (SORP) for charities. This information will also be available to members, funders, and the public upon request.
Policy Approval and Review: This policy was approved by the Board of Trustees on [insert date] and will be reviewed annually or as required by changes in the charity’s circumstances or relevant legal or regulatory guidance.
Contact: For questions about this policy or its implementation, please contact the Chair of Trustees or the Treasurer
Plan for the Future
Looking ahead CITA aims to work with more partners, increase the service levels and grow its marketing presence to reach more charities. CITA intends to increase and strengthen the volunteer base to improve the knowledge of skills that can be offered.
8. Statement of Trustees’ Responsibilities in Relation to the Financial Statements
The trustees are responsible for preparing the trustees’ annual report and financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Charity law in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charities SORP (Statement of Recommended Practice);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities.
The trustees are responsible for keeping proper 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 Charities Act 2011. They are also responsible for safeguarding the assets of the charity 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 charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity and signed on its behalf by:
Dominic Aslan Chair
Date:
9. Statement of Financial Activities
Statement of Financial Activities for the Year Ended 31 December 2024
| Note | Unrestricted Funds |
Restricted Funds |
Total Funds 2024 |
|
|---|---|---|---|---|
| Income and endowments from: |
||||
| Grants & Donations | 3 | 373 | 0 | 373 |
| Other income | 4 | 4,705 | 0 | 4,705 |
| Total Income | 5,078 | 0 | 5,078 | |
| Expenditure on: | ||||
| Charitable activities | 5 | 8,216 | 0 | 8,216 |
| Total Expenditure | 8,216 | 0 | 8,216 | |
| Net Income/(Expenditure) |
(3,138) | 0 | (3,138) | |
| Net movement in funds | 8 | (3,138) | 0 | (3,138) |
| Reconciliation of funds | ||||
| Total funds brought forward |
3,349 | 0 | 3,349 | |
| Total funds carried forward |
211 | 0 | 211 |
Statement of Financial Activities 2023 Comparatives
| Note | Unrestricted Funds |
Restricted Funds |
Total Funds 2023 |
|
|---|---|---|---|---|
| Income and endowments from: |
||||
| Grants & Donations | 3 | 3,043 | 0 | 3,043 |
| Other income | 4 | 9,944 | 0 | 9,944 |
| Total Income | 12,987 | 0 | 12,987 | |
| Expenditure on: | ||||
| Charitable activities | 5 | 26,806 | 0 | 26,806 |
| Total Expenditure | 26,806 | 0 | 26,806 | |
| Net Income/(Expenditure) |
(13,819) | 0 | (13,819) | |
| Net movement in funds | 8 | (13,819) | 0 | (13,819) |
| Reconciliation of funds | ||||
| Total funds brought forward |
17,168 | 0 | 17,168 | |
| Total funds carried forward |
3,349 | 0 | 3,349 |
The charity has no recognised gains and losses other than the net movement in funds for the two years shown.
Balance Sheet 2024
| Note | 2024 | ||
|---|---|---|---|
| £ | |||
| Fixed Assets | |||
| Tangible | 9 | - | |
| - | |||
| Current Assets | |||
| Debtors | 10 | (250) | |
| Prepayments & Accrued Income | 10 | 542 | |
| Bank | 1,814 | ||
| 2,106 | |||
| Current Liabilities | |||
| Trade Creditors | 11 | - | |
| Other Creditors & Accruals | 11 | - | |
| Deferred Income | 11 | 1,895 | |
| 1,895 | |||
| Net Current Assets/ (Liabilities) | 211 | ||
| Total Assets less Current Liabilities | 211 | ||
| **Funds of the charity: ** | 12 | ||
| Restricted funds | - | ||
| Unrestricted funds | 211 | ||
| Total funds | 211 |
The financial statements were approved by the trustees, and authorised for issue on and signed on their behalf by:
Dominic Aslan Chair
Date:
Balance Sheet 2023 Comparatives
| Note | 2023 | ||
|---|---|---|---|
| £ | |||
| Fixed Assets | |||
| Tangible | 9 | - | |
| - | |||
| Current Assets | |||
| Debtors | 10 | (106) | |
| Prepayments & Accrued Income | 10 | 400 | |
| Bank | 5,242 | ||
| 5,536 | |||
| Current Liabilities | |||
| Trade Creditors | 11 | 2,072 | |
| Other Creditors & Accruals | 11 | 115 | |
| Deferred Income | 11 | - | |
| 2,187 | |||
| Net Current Assets/ (Liabilities) | 3,349 | ||
| Total Assets less Current Liabilities | 3,349 | ||
| **Funds of the charity: ** | 12 | ||
| Restricted funds | 0 | ||
| Unrestricted funds | 3,349 | ||
| Total funds | 3,349 |
Notes to the Accounts
1. Charity status
The charity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England. The charity’s registered office is 86-90 Paul Street, London EC2A 4NE.
2. Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Charity IT Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Income from donated goods/services is measured at the fair value of the goods/service 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.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to a particular heading they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Raising funds
These are costs incurred in attracting voluntary income and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
As a registered charity, the company is exempt from corporation tax on surpluses arising from its charitable activities during the year.
Tangible fixed assets and depreciation
All assets costing more than £150 are capitalised.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer equipment -50% straight line
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other shortterm highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
3. Income from grants and donations
| Unrestricted Funds |
Restricted Funds |
Total Funds: 2024 |
Total Funds: 2023 |
|
|---|---|---|---|---|
| £ | £ | £ | £ |
|
| Donations: | ||||
| Boxxe | 0 | 0 | - | 0 |
| Other donations | 373 | 0 | 373 | 43 |
| Grants: | ||||
| Garfield Weston | 0 | 0 | 3,000 |
|
| Total | 373 | 0 | 373 | 3,043 |
4. Other income
| Unrestricted Funds |
Restricted Funds |
Total Funds: 2024 | Total Funds: 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Consultancy services |
100 | 0 | 100 | 1,350 |
| Other income | 4,605 | 0 | 4,605 | 8,594 |
| Total | 4,705 | 0 | 4,705 | 9,944 |
5. Expenditure on charitable activities
| Charitable activities |
Governance | Total: 2024 | Total: 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Freelance Consultancy | 6,402 | 0 | 6,402 | 20,723 |
| Web & Marketing | 857 | 0 | 857 | 3,827 |
| Independent Examiners Fees | 0 | 0 | 0 | (19) |
| Subscriptions | 234 | 0 | 234 | 234 |
| Insurance | 507 | 0 | 507 | 1,360 |
| Admin & charges | 216 | 0 | 216 | 681 |
| Total | 8,216 | 0 | 8,216 | 26,806 |
Included within total expenditure on charitable activities was £0 of restricted expenditure (2022: £5,000 was restricted).
6. Employees
Charity IT Association did not employ any staff during the year (2023: none).
7. Trustees
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year (2023: £nil).
No trustees received reimbursement of expenses during the year (2023: £nil).
No trustees have received any other benefits from the charity during the year.
8. Net movement in funds
Net movement in funds is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Independent examiner’s fees | 0 | (19) |
| Depreciation of owned tangible assets | 0 | 0 |
9. Tangible fixed assets
| 9. Tangible fixed assets |
||
|---|---|---|
| Computer Equipment |
Total | |
| £ | £ | |
| Cost | ||
| At 1 January2024 | 1,082 | 1,082 |
| Additions | 0 | 0 |
| At 31 December 2024 | 1,082 | 1,082 |
| Depreciation | ||
| At 1 January2024 | 1,082 | 1,082 |
| Charge for theyear | 0 | 0 |
| At 31 December 2024 | 1,082 | 1,082 |
| Net book value | ||
| At 31 December 2024 | 0 | 0 |
| At 31 December 2023 | 0 | 0 |
10. Debtors
| 10. Debtors |
||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Other debtors | (250) | (106) |
| Prepayments and accrued income | 542 | 400 |
| Total debtors | 292 | 294 |
11. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | - | 2,072 |
| Accruals and deferred income | - | 115 |
| Total creditors | - | 2,187 |
12. Statement of funds
| 2023 | Brought Forward |
Income | Expenditure | Transfers In/out |
Carried Forward |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Unrestricted funds | 3,349 | 5,078 | (8,216) | 0 | 211 |
| Total funds | 3,349 | 5,078 | (8,216) | 0 | 211 |
| 2023 | Brought Forward |
Income | Expenditure | Transfers In/out |
Carried Forward |
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Unrestricted funds | 17,168 | 12,987 | (26,806) | 0 | 3,349 |
| Total funds | 17,168 | 12,987 | (26,806) | 0 | 3,349 |
13. Related party transactions
None.