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2022-12-31-accounts

Registered number: 09478983 Charity number: 1171212

THE LONG RUN (A company limited by guarantee)

UNAUDITED

TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

THE LONG RUN (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 10
Independent examiner's report 11
Statement of financial activities 12
Balance sheet 13 - 14
Notes to the financial statements 15 - 28
The following pages do not form part of the statutory financial statements:
Charity Detailed income and expenditure account and summaries

THE LONG RUN (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees P Feilberg
A A Grant (resigned 10 August 2022)
L Cottar
H Hain (appointed 10 August 2022)
Company registered
number
09478983
Charity registered
number
1171212
Registered office
The Old Tannery
Hensington Road
Woodstock
OX20 1JL

Page 1

THE LONG RUN

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the The Long Run for the 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The vision of The Long Run is to envision a world in which 'Business, Nature and People are harmoniously working together for a sustainable future'.

The Mission of The Long Run is to seek to support, connect and inspire nature-based businesses to excel in following the highest standards of sustainability encompassing Conservation, Community, Culture and Commerce (4Cs) and to collectively influence others to take up best practices for a sustainable future worldwide

The principle objectives of the charity are set out in the Memorandum and Articles of Association and continue to promote sustainable development for the benefit of the public worldwide regarding the CC public benefit guidance the followings:.

• The advancement of the education of the public in subjects relating to nature conservation and sustainable development.

Sustainable development means "development which meets the needs of the present without compromising the ability of future generation to meet their own needs".

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

(A company limited by guarantee)

THE LONG RUN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

b. Strategies for achieving objectives

Taking into consideration the continued uncertainty, and the key areas identified in consultation with members, The Long Run strategic priorities and objectives in 2022 were to:

• Advocacy and continued leadership and promoting nature-based solution in the light of the biodiversity and climate crisis.

c. Activities undertaken to achieve objectives

The Long Run's activities are as follows:

• Bringing together a global community of people committed to conserve biodiversity and improving the wellbeing of people through small tourism enterprises.

Taking into consideration continued uncertainty, and the key areas identified in consultation with members, The Long Run strategic priorities and objectives in 2022 were to:

• Advocacy and continued leadership and promoting nature-based solution in the light of the biodiversity and climate crisis:

Page 3

(A company limited by guarantee)

THE LONG RUN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

Achievements and performance

a. Main achievements of the charity

In 2020 and 2021 The Long Run had focused on adapting to the global context, “firefighting” as many other charities. 2022 has been a year of recovery. Not only members had resumed business by June 2022, but the team was also able capitalize on 12 years’ experience and launch resources and initiatives for The Long Run community to continue showcasing best practices in terms of impact and credibility, within its membership and beyond. In addition to The Long Run’s core activities, the following was carried out:

• Stimulating the adoption of positive impact practices on nature and people by mentoring groups of enterprises through mentorship.

Collective Impacts

Every year The Long Run seeks to measure the collective impact of its members as they endeavour to continuously expand positive change in their landscape. In 2022, no formal survey was done again, however based on data gathered in 2019 and from new members (privately protected areas underpinned by tourism), The Long Run, through its membership, continues to support:

• Conservation: Helped conserve 23.5-million-acres of nature and over 400 endangered plant and animal species. 82% of its members contribute to creating connectivity in the landscapes.

• Community: Directly impacted 195,000 people globally, employed more than 3400 people and touched the lives of 750,000 people

The impact monitoring system will be reviewed in 2023.

Organizational development

Strengthening the organization through strategic partnership

The Long run continued leveraging its partnerships, with Preferred by Nature. In 2022 this led to gaining support on implementing a social media and awareness strategy; as well as piloting and refining Preferred by Nature’s ecosystem restoration validation process within a community and SME setting

The Long Run continued supporting Weeva, a software-as-a-service platform that enables tourism businesses to measure, track and improve impact using The Long Run’s 4C framework. As a founding partner, The Long Run members helped test the system which will result in more effective and efficient impact monitoring individually as well as collectively.

A 4C Screening Tool for tour operators, agents, and designers in partnership with Travel Partners to help ethical tour operators and agents to identify ethical suppliers and how to advocate for sustainable practices.

Page 4

THE LONG RUN

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Advocacy and leadership

The Long Run team continued to disseminate learnings and knowledge with regards to tourism based PPAs (Privately Protected Areas). For example, The Long Run participated to two IUCN Protected Area Congress (Asia and Africa) highlighting the potential of tourism based PPAs to help address climate change and biodiversity crisis. Through its partnership with UNWTO one planet initiative The Long Run contributed to a diversity of panel discussions including to a UN High Level Policy Forum side event on nature based solutions, and continued supporting the launch of the Glasgow Declaration on Climate Action in Tourism (of which The Long Run was a founding signatory). In addition to this, The Long Run supported the profiling of members’ innovative practices, to the World Bank Wildlife Program.

Membership

Activities of The Long Run are divided into four functions (organizational development, membership coordination, technical assistance, and marketing & communication). Membership coordination is core to the organisation and includes screening potential members to ensure alignment and ensuring continuous and supportive engagement of members.

Membership status

At the end of 2022, The Long Run counted 28 Fellow members, 11 GER®, and 28 Affiliates and 19 Partners.

The Long Run welcomed ten new Fellows and partners in 2022. Three Fellow members joined in 2022 and two Fellow Members became GER®, celebrating their achievements as centres of excellence in holistic sustainability, driving positive impacts on ecosystems, people and culture in their landscapes

Three members left the community due to change of management and ownership.

Opportunities to get involved in The Long Run

The Long Run Travel Partner category, was created in 2020, and continued to grow. The category was established in response to increased enquiries due to, a) the importance of sustainability for resilience, and b) the leadership of The Long Run with regards to responsible tourism and PPAs.

The category aimed to accommodate the needs and interests of these organizations, expand The Long Run's positive impact, and inspire change towards sustainability and climate action more broadly in the tourism sector without diluting the core membership. The category was comprised 17 Partners across the world at the end of 2021. Nine partners joined in 2021 but 5 of them did not renew their partnership in 2022 due to COVID related difficulties and changes in priorities.

Technical assistance and exchange

Providing tailored technical support (online and on-site) remains a core purpose of The Long Run. The team of experts and a selection of members, help members to shape and reach their sustainability goals. The ability of the team to travel was still affected by the pandemic this year, however, extensive remote support was provided to three members and one on-site visit was carried out. On-site visits (and remote support) help members address sustainability challenges and establish a road map to achieve long term conservation and community development goals.

In 2022, The Long Run team provided over 200 hours of remote and onsite technical support to members to advance their 4C work and positive impact journeys.

Page 5

(A company limited by guarantee)

THE LONG RUN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Moving towards greater sustainability in the tourism and conservation sector entails the need for greater transparency and better tracking of impact. At the initiative of members, The Long Run tested the implementation of an impact statement, showcasing how traveller’s bill spending support the local economy, and help achieve positive impact on nature, people, and culture at The Long Run destinations. This was launched in July 2022 year with uptake of seven members and further members working on impact statement. Fine tuning and refining the impact statements will continue in 2023.

Mentoring tourism enterprises outside the membership to embed sustainable practices.

In order to scale up access to knowledge and uptake of sustainable practices in the tourism sector in order to contribute to addressing the climate, biodiversity crisis, further efforts are being made to develop accessible resources, tools, and mentoring.

Thanks to a GIZ grant which supported The Long Run develop and pilot a training material to support tourism enterprises embed sustainability in their operation, The Long Run was able to make a modular training on strategic planning for sustainability available online for self-paced access. In total, in 2022, more than 160 people took part in the Free online Strategic Planning Training.

Subsequently, LATA (Latin American Tourism Association) worked alongside The Long Run to strengthen the course, making it more relevant to the diverse nature of tourism’s value chain, more user friendly as a self help course and providing a consistent method to plan, execute, and communicate sustainability efforts to a wider audience of tourism enterprises. The Long Run team was able to mentor a group of twelve LATA members through the training.

An overview of tools that support SME in tourism to adopt sustainability practices was also released in July.

Support through exchange

The Long Run's most effective way in driving impact at landscape level is supporting members' exchange both remotely and face to face. The Long Run encourages members to innovate, brainstorm, learn from each other, and get inspired by one another, and thereby help accelerate change.

Monthly 4C calls inspire and inform. These dial-in webinars capitalise on the expertise of The Long Run’s Members and Partners by providing members with unique viewpoints and insights. To facilitate learning and exchange seventeen calls and webinars were organised, enabling members to share strategies, innovative solutions, and expert insights to sustain 4C work amongst The Long Run community. This on diverse topics including topics such as media & sustainability, or resource efficiency & laundry and ethically transformational experiences.

Connecting members with one another and with relevant external organizations is also an important part of The Long Run's mission. To encourage further exchange with regards to conservation and community development initiatives, the Long Run facilitates regional collaboration. In 2022, one in-person two-day East Africa hub meeting was held, at Cottar’s Camp & Olderkesi Conservancy, a GER® Member. Two series of four regional hub meetings were held remotely later in the year to inform The Long Run strategy, identify areas of collaboration and priority actions for 2023.

Finally, fourty-eight passionate long runners gathered at Borana Conservancy for The Long Run’s first in-person Annual Meeting in three years, hosted by Global Ecosphere Retreat® member Borana Lodge and Fellow Member Lengishu. Members exchanged and brainstorm around themes: engaging stakeholders at all levels for more impact, more inclusion, more diversity.

Page 6

(A company limited by guarantee)

THE LONG RUN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance (continued)

Communication

Our communication and marketing strategy showcases the sustainability commitment of our members and disseminates 4C learning. Through this, The Long Run seeks to drive positive impact on nature and people by encouraging others to embed sustainability at the heart of their operations. In 2022 The Long Run focused on three audiences: Potential members, donors, and Travel Partners.

Communication with our members is core to maintaining a sense of community, transparency, and accountability. In The Loop, The Long Run monthly roundup was sent to keep our members informed of the organization's progress.

In 2022, we celebrated the work of our members and provided case studies to over 12 leading travel and conservation organisations, including UNWTO, UNEP, World Bank, GSTC, and Pure Life Experiences. The Long Run was featured in the press including Conde Nast Traveller, The Telegraph, Financial Times, and the Sunday Times helping disseminate and demonstrate best practices.

Grants and donations

In 2022, the Long Run disbursed restricted funding to support its GER® member Segera's Zeitz Foundation work in supporting local community school infrastructure and forest restoration work in Kenya. £83,619 were disbursed. The Long Run received £8,963 funding from GIZ, final instalments or a grant to support The Long Run develop open resource tools and training to support small and medium tourism enterprise adopt more sustainable practices. In addition, £20,000 donations were received with gratitude from the Parker Fray to support The Long Run operations.

b. Review of activities

Total funds received in 2022 were £182,270 (2021: £190,437). Restricted funds received were £83,619 — these funds were for the purpose of a Conservation and Educational Project. In 2021, the restricted funds were £94,809. In 2022, £83,619 was spent on one Conservation and Education project as specified by the donor. The financial position at the balance sheet date was positive of £3 (2021: £12,909).

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Long Run had aimed to start establishing a reserve policy but this has been made difficult this year again as a result of two years of COVID. This will be an objective in 2023..

Page 7

THE LONG RUN

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

c. Future Plans

Based on learnings in 2022, internal reflection and the global context, it is proposed to strengthen efficiencies, and leverage more effectively the opportunities, knowledge, and capacity of our organisation to showcase, and help lead positive change. The focus will be on looking for more effective strategies to accelerate change in the context of the climate and biodiversity emergencies.

Proposed strategies for 2022 are:

Growth in membership – to strengthen impact more widely, disseminate the 4Cs and grow income. To be more effective and efficient we will focus on “easy win” areas where The Long Run would have most impact and is particularly suited to e.g. Africa, Latin America, SE Asia.

Growing awareness and interest in Nature Based Solutions – explore avenues to grow interest in investing in biodiversity conservation/regeneration in priority areas, leveraging our current members, networks and partners. Continue showcasing, disseminating information, and engaging with the corporate sector will be key.

Growth and spread of the 4Cs – focus on spreading the 4Cs concept beyond our membership through other networks and partnerships; especially through travel partners and Preferred by Nature networks. Online training material, the Impact Bills and other tools promoting transparency will be important resources to help spread and inspire others to take up a holistic approach to sustainability.

Growing leadership – encourage building leadership at local levels, empowering people to drive change, especially give members’ staff confidence to push for change in their own communities. This by developing resources to help empower people at the local level.

Growing resilience of the organisation - The Long Run will continue focusing on cost efficiencies, exploring opportunities for project funding as well as growing its membership

Structure, governance and management

a. Constitution

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Page 8

THE LONG RUN

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

The Long Run is membership based. The Long Run membership is mainly institutional, but individuals may also be admitted. Institutional members belong broadly to three categories: Fellow Members (nature-based tourism enterprises that own, directly manage or significantly influence the management of a natural area of conservation value); Global Ecosphere Retreats® are (Fellow Members who have achieved recognition from The Long Run as being in compliance with the requirements of the GER® Standard) and Affiliate Members ( organizations that are aligned and support The Long Run by providing expertise and assistance in growing The Long Run globally). Partners include Travel Partners, organisations which are committed to sustainability and sell travel.

The directors of the company are also charity trustees for the purpose of charity law.

Measures are in place to ensure that only trustworthy persons are appointed. These include taking up references and carrying out due diligence checks.

The Long Run Board of Trustees is composed of at least three members and no more than 12.

The Trustees meet two to four times a year and are responsible for the strategic direction and policy of charity. At the time of writing the Board had three members, including one GER® member. The Board of Trustees is supported by a Members' Advisory Council, made up of three to six elected GER® members, who meet once to twice a year and ensure that members' consultation in specific strategic matters of the organization.

The board is composed of:

d. Financial risk management

The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks as follows:

-Ensure its activities are in line with its strategy and mandate and delivered which are regularly reviewed -Carefully monitor its progress and budget

-Exploring opportunities for diversifying income streams, potentially through fee paying services and increasing focus on grants

-Implement procedures to prevent the charity to be the victim of financial fraud and ensure activities remain in line with The Long Run mission and vision

The Long Run is limited by guarantee and is governed by its Memorandum and Articles of Association and registered as charity on 19 January 2017.

Page 9

(A company limited by guarantee)

THE LONG RUN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 25 July 2023 and signed on their behalf by:

P Feilberg

Digitally signed by Peter Feilberg DN: cn=Peter Feilberg, c=DK, o=NEPCon F.M.B.A. // CVR:18044633, email=pfeilberg@nepcon.org Date: 2023.08.02 08:21:28 +03'00'

Page 10

THE LONG RUN (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Independent examiner's report to the Trustees of The Long Run ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2022.

Responsibilities and basis of report

As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

Signed: Dated: 26 July 2023

L Butler FCA

The Old Tannery, Hensington Road, Woodstock OX20 1JL

Page 11

(A company limited by guarantee)

THE LONG RUN

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
17
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
98,637
14
98,651
90,438
14,089
104,527
(5,876)
370
(5,506)
5,509
(5,506)
3		 Restricted
funds
2022
£
83,619
-
83,619
-
90,649
90,649
(7,030)
(370)
(7,400)
7,400
(7,400)
-		 Total
funds
2022
£
182,256
14
182,270
90,438
104,738
195,176
(12,906)
-
(12,906)
12,909
(12,906)
3		 Total
funds
2021
£
190,437
-
190,437
99,134
80,904
180,038
10,399
-
10,399
2,510
10,399
12,909

Page 12

THE LONG RUN (A company limited by guarantee) REGISTERED NUMBER: 09478983

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current liabilities / assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets		 1,346
21,622
22,968
(24,185)		 2022
£
-
1,220
1,220
(1,217)
3
3
3		 4,224
36,034
40,258
(28,325)		 2021
£
113
863
976
11,933
12,909
12,909
12,909

Page 13

THE LONG RUN (A company limited by guarantee) REGISTERED NUMBER: 09478983

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022

Note
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 2022
£
-
3
3		 2021
£
7,400
5,509
12,909

The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 25 July 2023 and signed on their behalf by:

P Feilberg

Digitally signed by Peter Feilberg DN: cn=Peter Feilberg, c=DK, o=NEPCon F.M.B.A. // CVR:18044633, email=pfeilberg@nepcon.org Date: 2023.08.02 08:21:56 +03'00'

Page 14

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. General information

The Long Run is a charitable company limited by guarantee without share capital and use of Limited exemption. The Long Run is registered with the Charity Commission for England and Wales (charity number 09478983). The Charity was registered with the Charity Commission on 19 January 2017.

The charity's principal office address is The Old Tannery, Hensington Road, Woodstock Oxfordshire OX20 1JL.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Long Run 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.

2.2 Income

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 income receivable can be measured reliably.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 15

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.4 Research and development

Development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits, and are amortised on the straight line basis over the anticipated life of the benefits arising from the completed product or project.

Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to the Statement of financial activities.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Intangible assets and amortisation

Intangible assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Development expenditure

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Computer equipment - 20% Straight line

Page 16

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 17

(A company limited by guarantee)

THE LONG RUN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Income from donations and legacies

Unrestricted
funds
2022
£
Donations
98,637
Total 2021
110,832		 Restricted
funds
2022
£
83,619
79,605		 Total
funds
2022
£
182,256
190,437		 Total
funds
2021
£
190,437

4. Investment income

Unrestricted
funds
2022
£
Interest received
14
Expenditure on raising funds
Costs of raising voluntary income
Unrestricted
funds
2022
£
Consultancy fee
25,950
Costs of raising voluntary income - wages and salaries
61,816
Costs of raising voluntary income - NI
2,672
90,438		 Total
funds
2022
£
14
Total
funds
2022
£
25,950
61,816
2,672
90,438		 Total
funds
2021
£
-
Total
funds
2021
£
35,560
60,450
3,124
99,134

5. Expenditure on raising funds Costs of raising voluntary income

Page 18

(A company limited by guarantee)

THE LONG RUN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Analysis of grants

Project costs
Total 2021		 Grants to
Individuals
2022
£
90,649
72,205		 Total
funds
2022
£
90,649
72,205		 Total
funds
2021
£
72,205

7. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2022
£
Raising donations and legacies
14,089
Total 2021
8,699		 Restricted
funds
2022
£
90,649
72,205		 Total
2022
£
104,738
80,904		 Total
2021
£
80,904

Page 19

(A company limited by guarantee)

THE LONG RUN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Analysis of expenditure by activities

Raising donations and legacies
Total 2021		 Grant
funding of
activities
2022
£
90,649
72,205		 Support
costs
2022
£
14,089
8,699		 Total
funds
2022
£
104,738
80,904		 Total
funds
2021
£
80,904

Analysis of support costs

Depreciation
Staff support costs
Travel and subsistence
Computer,software and communication costs
Accountancy and legal fees
Bank charges		 Activities
2022
£
562
455
6,256
2,786
3,653
377
14,089		 Total
funds
2022
£
562
455
6,256
2,786
3,653
377
14,089		 Total
funds
2021
£
1,350
160
752
2,424
3,600
413
8,699

Page 20

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Independent examiner's remuneration

2022 2021
£ £
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts 3,600 3,600

Page 21

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Staff costs

Wages and salaries
Social security costs		 2022
£
61,816
2,672
64,488		 2021
£
60,450
3,124
63,574

Page 22

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Staff costs (continued)

The average number of persons employed by the charity during the year was as follows:

2022 2021
Management 1 1

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
No. No.
In the band £60,001 - £70,000 1 1

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .

12. Intangible assets

Cost
At 1 January 2022
At 31 December 2022
Amortisation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Develop-
ment
£
5,312
5,312
5,199
113
5,312
-
113

Page 23

THE LONG RUN

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. Tangible fixed assets

Cost or valuation
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
14.
Debtors
Due within one year
Trade debtors
Prepayments and accrued income
15.
Creditors: Amounts falling due within one year
Payments received on account
Trade creditors
Other taxation and social security		 2022
£
750
596
1,346
2022
£
17,473
310
2,802		 Computer
equipment
£
1,439
806
2,245
576
449
1,025
1,220
863
2021
£
3,700
524
4,224
2021
£
21,951
21
2,753

Page 24

THE LONG RUN (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Creditors: Amounts falling due within one year (continued)

Accruals and deferred income 2022
£
3,600
24,185		 2021
£
3,600
28,325

16. Financial instruments

2022 2021
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 21,622 36,034

Financial assets measured at fair value through income and expenditure comprise….

Page 25

(A company limited by guarantee)

THE LONG RUN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds		 Balance at 1
January
2022
£
5,509
7,400
12,909		 Income
£
98,651
83,619
182,270		 Expenditure
£
(104,527)
(90,649)
(195,176)		 Transfers
in/out
£
370
(370)
-		 Balance at
31
December
2022
£
3
-
3

Page 26

THE LONG RUN

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds		 Balance at
1 January
2021
£
2,510
-
2,510		 Income
£
110,832
79,605
190,437		 Expenditure
£
(107,833)
(72,205)
(180,038)		 Balance at
31
December
2021
£
5,509
7,400
12,909

18. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 Balance at 1
January
2022
£
5,509
7,400
12,909		 Income
£
98,651
83,619
182,270		 Expenditure
£
(104,527)
(90,649)
(195,176)		 Transfers
in/out
£
370
(370)
-		 Balance at
31
December
2022
£
3
-
3

Page 27

THE LONG RUN

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

18. Summary of funds (continued)

Summary of funds - prior year

Balance at
Balance at 31
1 January December
2021 Income Expenditure
2021
£ £ £
£
General funds 2,510 110,832 (107,833)
5,509
Restricted funds - 79,605 (72,205)
7,400
2,510 190,437 (180,038)
12,909
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
Total
funds
funds
2022
2022
£
£
Tangible fixed assets 1,220
1,220
Current assets 22,968 22,968
Creditors due within one year (24,185)
(24,185)
Total 3
3

19. Analysis of net assets between funds

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2021
£
863
113
32,858
(28,325)
5,509		 Restricted
funds
2021
£
-
-
7,400
-
7,400		 Total
funds
2021
£
863
113
40,258
(28,325)
12,909

Page 28

THE LONG RUN

(A company limited by guarantee)

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Income
Donations restricted
Donations unrestricted
Membership fees
On-site visit income
Member contributions
Interest received
Gross income in the reporting period
Less:
Expenditure Group 1
Project costs
Expenditure Group 2
Consultancy fees
Wages and salaries
Employers national insurance
Training and support costs
Travelling and subsistence
Computer, software and communication costs
Accountancy and legal fees
Bank charges
Expenditure Group 3
Depreciation
Total expenditure
Net (expenditure)/income before taxation for the
reporting period		 2022
£
83,619
31,472
61,126
1,400
4,639
14
90,649
25,950
61,816
2,672
455
6,256
2,786
3,653
377
562		 2022
£
182,270
-
182,270
90,649
103,965
562
195,176
(12,906)		 2021
£
79,605
43,583
62,542
4,000
707
-
72,205
35,560
60,450
3,124
160
752
2,424
3,600
413
1,350		 2021
£
190,437
-
190,437
72,205
106,483
1,350
180,038
10,399

Page 29

THE LONG RUN

(A company limited by guarantee)

INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Tax payable
Net (expenditure)/income for the reporting period
(Deficit)/Surplus for the reporting period
Surplus brought forward at 1 January 2022
Surplus carried forward at 31 December 2022		 2022
£		 2022
£
-
(12,906)
(12,906)
12,909
3		 2021
£		 2021
£
-
10,399
10,399
2,510
12,909

The notes on pages 15 to 28 form part of these financial statements.

Page 30