DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 **Camden Giving** Charity number: 1174463 **Annual Report For the year ended 31 March 2022** 1 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 |**Contents**|| |---|---| |Reference and administrative information|3| |Trustees’ annual report|4 - 16| |Independent auditor's report|17 - 20| |Consolidated statement of financial activities|21| |Balance sheets|22| |Consolidated statement of cash flows|23| |Notes to the financial statements|24 - 35| 2 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Reference and administrative information** ## **Trustees:** Simon Pitkeathley – Chairperson Allan Sutherland - Treasurer Sue Wilby Dominic Pinkney Tom Holliss Graham Dyer Rose Alexander Hafsa Mohammed Nathan Dyke Vanessa Brown (appointed 19 May 2022) Jannah Maliha Mujib (resigned 09 June 2022) Mahfuz Sadique (resigned 13 November 2021) **Director:** Natasha Friend **Charity number:** 1174463 **Registered office:** Collective, 5-7 Buck Street, Camden Town, London, NW5 2NJ **Independent Auditors:** Peters Elworthy & Moore Salisbury House Station Road Cambridge CB1 2LA **Bankers:** CAF Bank, 25 Kings Hill Avenue, Kings Hill, ME19 4JQ 3 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **TRUSTEES ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 MARCH 2022** The Trustees present their report and financial statements for the year ended 31 March 2022. The Trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to Charities preparing their accounts in accordance with FRS 102. ## **Chair’s Statement** Over the last year multiple crisis's have hit the headlines; a health and well-being disaster caused by Covid, high numbers of refugees arriving from Afghanistan and Ukraine as well as increased cost of living and funding challenges for many small charities. But health, migration and poverty emergencies are not new to many people in Camden. This borough contains many people who are experts in surviving emergencies, because they have done so themselves. The people of Camden are its greatest asset and that is why in the financial period 2021-22 we increased the ways that local people, with lived experienced of inequality, lead social good work. We set-up a sister organisation, the Community Ideas Project, which supports citizens to receive funding from Camden Giving to run community projects. With funding from Camden Council and a growing number of residents and businesses, we’ve created a community-led fund that gives small grants to citizens to overcome some of Camden’s most complex issues. It’s proven a huge success already, with 43 citizens receiving funding since we began the programme in June 2021. Already 5 of those citizens have gone on to receive larger grants from our community panels ranging from £10,000£30,000, showing clear signs that citizens are unlocking sustainable solutions to community issues. Our grantmaking continues to shift decision-making power to Camden citizens with lived experience of inequalities. This year we worked with 57 citizens who formed our decision-making panels. This is more than just “different people making the same decisions”. As an example, of the 43 grants awarded over the last three years of the Future Changemakers Fund, over 50% were recurring grants to 11 unique organisations. This shows the value and strength of these community organisations are felt by the three separate youth-led community panellists. Over half of these 11 organisations are led by Camden residents from black and minority ethnic led communities. This sits in contrast with a funding sector which under-funds leaders with lived experience of the issues they are addressing. The year 2021-22 has been a difficult financial year for many of our grantees. Many funders and donors “burnt too bright” the previous year and slowed their giving. This has had an impact on Camden Giving too and we faced difficult financial decisions and we were forced to award less money than in previous years. Despite these challenges, new donors joined our work this year and we've focussed efforts on supporting those who we know other funders struggle to fund, particularly community leaders from marginalised groups. Long-term commitments from donors including the Paul Hamlyn Foundation, Landsec and Camden Council, means that Camden Giving ends the financial year 2021-22 with a healthy cash flow. Over the next year we will increase the ways that citizens with community knowledge can work with us, setting up a large alumni group to set grant-making strategy for the organisation. Many of our supporters will face challenging financial times over the next year, so we will need to ensure the resources we have are focussed towards work that is most important to people in Camden. 4 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Objectives and activities** ## **Purposes and aims** Camden Giving connects Camden to end local inequality. Based on a notion that everyone has something to give; be that time skills or money, we channel those resources into grassroots community action that responds to local challenges. Camden Giving aims to address inequality of wealth, opportunity, health, well-being and influence for Camden's residents. Camden is a borough of extremes, the gap between the richest and the poorest is widening, the difference in life expectancy between men in the wealthiest and most deprived wards is 11 years, 35% of children in Camden live in poverty. Camden is a busy and expensive place to live, and this leads to high levels of loneliness and isolation amongst the most deprived residents. Camden is also home to a number of thriving business and intellectual communities: Kings Cross contains the UK headquarters of multi-national mega-companies such as Google. Camden Town is home to a large number of SME's. The 'Knowledge Quarter' is home to some of the World's most prestigious research institutions, Camden contains a significant number of Nobel prize winners. Lastly, Camden's workforce is dominated by creative millennials who wish to work for companies who have a social value. Camden Giving aims to bridge the two worlds: the business community and the most deprived communities in Camden. We do this for mutual benefit and create innovative and longlasting partnerships that can overcome local inequality. ## **Public benefit** The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit whilst reviewing Camden Giving’s aims and objectives and in planning the future activities. ## **Our Manifesto** Time for a different way of doing things? We think so. We are uncovering better ways of creating equity in communities. We know that funding, resident-decision making and connections are key to this, but we've learnt that they are not the most important things. ## _Participation_ We prioritise shifting power to a varied range of voices over counting the number of residents making funding decisions. ## _Funding_ We prioritise having accessible funding processes over counting the number of funded projects. ## _Opportunities_ We prioritise the needs of individuals over counting the number of opportunities we secure. ## **2021/22 At a Glance** - Income: £1,011,988 - Grants awarded: 151 - Grants awarded: £880,747 - Number of resident panellists: 46 - Connections that increase power: 294 5 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **2022/23 Coming Up** In 2020 we set out a three-year business plan. We have continually reviewed our work and made changes that reflect the different circumstances we are now operating in. As inequality in Camden has risen, so has the desire to change it, not just internally but amongst our communities and partners. The changes to our Delivery Plan reflect higher ambitions for what we can achieve in partnership with businesses, residents, local government and other funders. What hasn't changed is that we work to deliver programmes that are: - Keeping people safe. - Reducing loneliness and isolation of people experiencing poverty and inequality. - Helping local people to play a role in addressing local and global issues (that have an impact in Camden). We'll spend the next year prioritising delivering participatory funding programmes, developing strong fundraising partnerships and supporting opportunities that build power. We are also focussing on the following priorities: - Supporting team wellbeing - Understanding the impact of our connections - Co-owned racial justice - Sustainable onward funding - Digital participatory grant-making We work to the spirit of our manifesto and all our programmes are working towards racial justice. We created a racial justice strategy in 2020. The staff team have been supported by BRAP to review this and have worked together to write proposed plans for the next 2 years that focusses on our approach to racial justice internally, through our participatory grant-making and with donors and businesses in Camden We developed a Theory of Change that represents how we are working differently as a participatory grant-making organisation that encompasses our delivery plan and racial justice strategy. We will use this tool to measure and evidence the impact of our work. 6 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Volunteers** Volunteers added significantly to our work during the financial period 2021/22, we’d like to thank our long-standing volunteers Trisha and Tennyson from Zappi Store who provide ongoing support to build our capacity with technology and grant-making software, alongside Hafid at Camden Council. Lea from Google supported our work on understanding our impact through data for our role in empowering connections across the borough. Sam and Michael from Sam Lane photography who provide pro-bono photography and videography support to assist us and our grantees with storytelling and impact. ## **Fundraising** Camden Giving raises money to be able to redirect funding and resources back into grassroots projects working to find solutions that tackle inequality and injustices in the borough. Working on a notion that everyone has something to give, we continued to fundraise flexibly from a wide variety of businesses in Camden. Fundraising highlights included: - We held our first Bungee Jump challenge event for supporters to fundraise for us, made up of employees at Hat Trick Productions, John Lewis, Camden Collective and Zappi and former panellists, they raised donations totalling £2,890 to support our work tackling inequality in Camden. 7 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 - We enabled businesses to make contributions towards the sustainability of Camden’s charities through establishing our first unrestricted, multi-year funding programme the Equalities Fund. In 2021/22 our fundraising achievements were made possible because of a collaborative effort between Camden businesses, their employees, local authority, trusts and foundations and high networth donors. Camden is a special place, full of activism, creativity, and pride. When people are struggling here, communities stand up to support them. More and more we are seeing businesses doing the same. Collectively, businesses are one of biggest contributors to our fundraising with 43% of overall income from them, from their bottom line and through grants. We’ve had a significant increase in their support for our core costs too including through donations, payroll giving and employee fundraising. Our core costs are partially supported by multi-year grants from Trusts and Foundations as well as a mix of support from businesses and individuals giving to core and towards grant programmes. This core support enables us to have financial stability to continue working towards our mission. From this collective solidarity, we’ve seen ideas and community leaders emerge that have the potential to overcome some of Camden’s deep-rooted inequalities. Over the coming years, businesses will continue to play a huge role in sustaining the work of Camden Giving and community leaders and we’re increasing our fundraising partnerships with businesses in Camden to achieve this. ## **Grant-making** Camden Giving is a participatory place-based funder. We believe that people experiencing challenges know the best solutions and we want to use our grant-giving to put power and trust in the hands of people often aren’t given power or trust. For example, the Future Changemakers Fund was chaired by an 18-year-old BAME resident. Camden Giving’s Trustee’s delegate all grant decisions to independent panels made up of residents who Camden Giving recruit and train. In this financial year we have had 3 resident panels and this has proved an important way to bring together people who live in Camden to make decisions. Camden Giving's grants process is as follows: 1. An open call for applications was advertised via Camden Giving's website, newsletter and social media. 2. Camden Giving provide applicants with one-two-one advice and support to make an application. This is done via workshops, drop-in sessions and ad-hoc meetings. Applicants are offered the option to apply via video, interview or with ESOL support if they need assistance. 3. Decisions made by the panel are final and Camden Giving Trustees delegate this responsibility to them within this agreed framework. 4. Grants are usually paid in instalments upon receipt of satisfactory reporting. 5. Applicants for grants with a value of £60,000 or more are visited by Camden Giving staff and a report of this visit is shared with the panel 1 week before their meeting along with all eligible applications with recommendations made by Camden Giving staff based applicants' ability to fulfil criteria and Camden Giving's summary of local needs. 8 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 The following Grants were committed during this financial year: ## **Kings Cross Community Fund** The KX Fund, which aims to mitigate against the negative impacts of the Kings Cross development and enhance the opportunities it provides for local people. This fund is made possible by Argent’s S106 contributions. 2 grants - £29,904 |2 grants - £29,904|| |---|---| |Somers Town Community Association|£29,804| |Sanfoka Storytelling Arts (awarded as a grant extension)|£100| ## **COVID-19 Emergency Community Fund** The COVID-19 Fund was created due to the extraordinary demands that charities, social enterprises and community groups faced because of the pandemic to provide immediate financial support and emergency response, as well as support to tackle digital poverty and services for racial minority communities. The following grants were awarded to foodbanks delivering specialist support to specific communities during the crisis, funded by donors Social Bite. 3 grants - £2,764 |3 grants - £2,764|| |---|---| |Urban Community Projects|£921| |Queens Crescent Community Centre|£921| |Kentish Town Community Centre|£921| ## **Inclusive Community Fund** The Inclusive Fund aims to make services and activities more accessible to adults with disabilities. This fund was funded by Camden Council through their Community Impacts initiative. - 7 grants - £105,850 |7 grants - £105,850|| |---|---| |Abbey Community Centre|£4,992| |Camden People's Theatre|£18,771| |Healthwatch Camden|£16,556| |NW5 PROJECT|£20,000| |Pro Touch SA CIC|£19,845| |The CarAf Centre|£5,686| |The Whitefield Charity SK Corporation|£20,000| ## **Future Changemakers Fund** The Future Changemakers fund aims to make Camden a safer place for young people. This fund was contributed to by Argent’s Section 106 agreement, Camden Town Unlimited, Euston Town, Camden Watch Co, The National lottery Community Fund and Span Trust. 9 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## 27 grants - £207,736 |27 grants - £207,736|| |---|---| |Action Youth Boxing Intervention|£10,000| |Coram’s Fields|£10,000| |Pro Touch SA CIC|£10,000| |QCCA (Queen's Crescent Community Association)|£10,000| |SIR HUBERT VON HERKOMER ARTS FOUNDATION|£10,000| |SMALL GREEN SHOOTS|£10,000| |Somali Youth Development Resource Centre|£10,000| |Unloc (in partnership with Westminster Kingsway College + Visionnaires)|£6,554| |Your Bike Project CIC|£10,000| |Buri Academy|£10,000| |C4WS|£9,588| |Diginnova Foundation|£10,000| |Eat Club|£7,755| |Fitzrovia Youth in Action|£9,718| |Head Held High|£5,029| |Kings Cross Brunswick Neighbourhood Association (KCB)|£10,000| |Your Revolution CIC|£10,000| |Skills Exchange Project CIC|£10,000| |Sobriety Films|£9,982| |St. Pancras Tenants and Residents Association|£10,000| |STORE Schools and Projects CIC|£9,040| |Survivors Can Shine C.I.C.|£10,000| |Performing Productions|£70| The following awards totalling £773 were awarded as grant extensions to Future Changemaker grantee Your Bike Project from but the Young Euston Voices and Google KX Project budget |Your Bike Project CIC – Euston Voices|£558| |---|---| |Your Bike Project CIC – Google KX Project|£215| 10 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Equality Fund** The Equality Fund provides unrestricted, multi-year grants to charities tackling inequalities faced by Camden’s diverse communities, supported by Take Two, Clothworkers Foundation, Belsize Society, Hat Trick Productions, Google and individual donors. 10 grants - £300,000 |10 grants - £300,000|| |---|---| |The UK Sapphire Foundation|£30,000| |The CarAF Centre|£30,000| |Bloomsbury Football Foundation|£30,000| |Afro Pic Productions|£30,000| |South Camden Community Trust|£30,000| |Newham Refugee Consortium|£30,000| |ALAG/Autism Hub|£30,000| |Ingestre Road Community Centre|£30,000| |Brent Women's Advisory Resource Centre|£30,000| |The Wellness Action Alliance|£30,000| The following awards totalling £200 were awarded as grant extensions to Equality Fund grantees from our Core budget |from our Core budget|| |---|---| |The Wellness Action Alliance|£100| |Afro Pic Productions|£100| 11 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **We Make Camden Kit** The We Make Camden Kit is a partnership with Camden Council to fund great ideas that will make Camden a better place and achieve Camden’s Core Missions; everyone eats well everyday, young people have great opportunities, there’s diversity amongst people in power and we’re living in sustainable neighbourhoods. The fund is supported by Camden Council, Shaftesbury Plc, Urban Partners and individual donors. **The Community Ideas Project C.I.C** was incorporated by Camden Giving on 20 July 2021 to support citizens to receive funding from Camden Giving’s We Make Camden Kit to run community projects, alongside providing additional support including safeguarding, public liability insurance and connections. The Community Ideas Project is considered to be a subsidiary of Camden Giving via the virtue of common control and also as a result of Camden Giving providing significant infrastructure support to ensure it meets its objectives. 100 grants £233,520 |100 grants £233,520|| |---|---| |KCBNA|£7,328| |Maiden Lane Community Centre|£7,408| |Doorstep Homeless project|£7,500| |Feast with Us|£6,230| |Castlehaven|£6,930| |The NW5 Project|£7,500| |Refugee Community Kitchen|£7,500| |Urban Community Projects|£6,535| |Swiss Church|£4,000| |The Sapphire Wellbeing Academy|£6,000| |Fustal Star Foundation|£9,440| |Hello Beautiful Foundation|£8,038| |Abbey Community Centre|£6,538| |The Sheriff Centre|£8,038| |Sidings Community Centre|£6,538| |Calthorpe Community Garden|£6,538| |Unity Works|£6,538| |Buri Academy Education|£1,500| |Newham Refugee Consortium "BOBOTO"|£1,500| |Bengali Education Centre|£1,500| |3 Starts Limited|£1,500| |West Hampstead Women's Centre|£1,500| |The Lot Productions|£1,496| |Gospel Oak FC|£1,500| 12 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 |Girlguiding St Pancras|£1,200| |---|---| |C4WS Homeless Project|£1,490| |Your Bike Project|£1,500| |Camden Volunteer Police Cadet|£1,500| |The Screen Film Community|£3,000| |Camden United FC|£3,000| |UK Sapphire Foundation|£1,078| |Pro Touch CIC|£3,000| |Somali Community Centre|£1,500| |Zaad Foundation|£1,500| |Webheath TRA|£1,500| |IAMI Ltd (IamIrish)|£3,000| |Camden Clear Air|£1,500| |EngageHere CIC|£1,472| |The Zen Project Community CIC|£1,440| |Regent's High School|£1,480| |Edith Neville Primary School|£1,446| |RAaW Foundation|£1,500| |HvH ARTS|£1,500| |Platform Cricket|£1,500| |Bloomsbury Beginnings CIC|£1,500| |Kilburn Older Voices Exchange (KOVE)|£1,500| |GetScouted Kicks|£1,500| |Oliver Yu Chan working with Somers Town Space|£1,450| |Community Ideas Project C.I.C. (44 grants for onward payment to individuals)|£63,369| During the year we undertook an exercise to review our grant arrangements with grantee organisations who were, for different reasons, in breach of the terms of our agreement, including those awarded grants in previous years. Those who failed to respond to our flexible approach and offer of support meant that, by the year end, we cancelled £144,084 in funding that will be redistributed for further community benefit through our existing grant fund programmes. Camden Giving offer ongoing 121 support with grantees to ensure that they’re able to operate in line with the terms of our grant agreements. 13 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Financial review** Results for the year ended 31 March 2022 are given in the Statement of Financial Activities. The assets and liabilities are given in the Balance Sheet. The financial statements should be read in conjunction with the related notes. The Trustees regard the financial position of the Charity and Group at 31 March 2022 to be satisfactory and they are content that the current unrestricted reserves position leaves it with a sound base from which future activity can be built. ## **Reserve policy** Camden Giving will aim to hold sufficient reserves to meet its legal obligations including completing grant commitments. The Charity is currently dependent on grant income in order to maintain its core activities. The Trustees aim to maintain unrestricted reserves equivalent to nine to twelve months running costs, this equates to approximately £210,000-£280,000. The Trustees consider that this level will provide sufficient funds to cover support and governance costs. Unrestricted free reserves at the end of this period were £224,917 that represent between 9-10 months running costs. In order to make a judgment on the amount of reserves the Trustees have considered the risks in respect of expenditure, unrestricted income and where appropriate restricted income and where funds can only be realised by the disposal of a fixed asset. Also taken into consideration are any external identified potential major risks to income and expenditure during the year under consideration. The Director is responsible for ensuring that Camden Giving's total assets do not fall below the agreed reserves level without minuted agreement from the board of Trustees. ## **Structure, governance and management** Camden Giving is a Charitable Incorporated Organisation, number 174463, with 9 Trustees. Camden Giving also has an Advisory Group that is usually invited to attend Trustee meetings at the discretion of Trustees. The Community Ideas Project C.I.C, incorporated in the UK, registered number 135221090, was established by Camden Giving’s Trustees on 20 July 2021 to support citizens to receive funding from Camden Giving’s We Make Camden Kit to run community projects, alongside providing additional support including safeguarding, public liability insurance and connections. The Community Ideas Project is considered to be a subsidiary of Camden Giving via the virtue of common control and also as a result of Camden Giving providing significant infrastructure support to ensure it meets its objectives. Camden Giving's Chair of Trustees is Simon Pitkeathley. Camden Giving's Treasurer is Allan Sutherland. Simon Pitkeathley, Clare McBride and Sue Wilby were the founding Trustees of Camden Giving on 31 August 2017, since then the Trustees recruited 7 new Trustees to meet gaps in skills and experience. Trustee opportunities were advertised on Camden Giving's website, social media and via volunteering networks. Shortlisted candidates were interviewed by current Trustees who voted on the final decision at board meetings. New Trustees have been offered formal training and been given a copy of the Camden Giving's constitution. There are no other bodies that can appoint Camden Giving Trustees. 14 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Statement of responsibilities of the Trustees** The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Generally Accepted Accounting Practice). The law applicable to Charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires that the Trustees 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, including the income and expenditure, of the Charity for that period. In preparing those financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgments and estimates that are reasonable and prudent; - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. The total number of such guarantees at 31 March 2018 was 8. The Trustees are members of the Charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the Charity. ## **Statement as to Disclosure of Information to the Auditor** In so far as the Trustees are aware: - There is no relevant audit information of which the CIO’s auditors are unaware and - The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 15 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Auditors** The auditors, Peters Elworthy & Moore have expressed their willingness to continue in that capacity. The designated trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by the board of Trustees and signed on its behalf on Friday 18th November 2022 by; ## **Simon Pitkeathley** ## **Chairperson** 16 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Independent Auditor’s Report to the Trustees of Camden Giving (CIO)** ## **for the year ended 31 March 2022** ## **OPINION** We have audited the financial statements of The Camden Giving (the 'parent charity') and its subsidiary (the 'Group') for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities, the Balance Sheets, the Consolidated Statement of Cashflows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements: - give a true and fair view of the state of the Group's and of the parent charity's affairs as at 31 March 2022 and of the Group’s incoming resources and application of resources, including its income and expenditure for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **BASIS FOR OPINION** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **CONCLUSIONS RELATING TO GOING CONCERN** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 17 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **OTHER INFORMATION** The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** In the light of our knowledge and understanding of the Group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. ## **RESPONSIBILITIES OF TRUSTEES** As explained more fully in the Statement of the Responsibilities of the Trustees, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the Parent Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to 18 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charity or to cease operations, or have no realistic alternative but to do so. ## **AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and the relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise noncompliance with applicable laws and regulations; - we identified the laws and regulations applicable to the Group through discussions with Trustees and other management, and from our knowledge of charity law and experience; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Charity, including the Charities Act 2011 and taxation legislation; - in addition, we considered provisions of other laws and regulations which do not have a direct effect on the financial statements but compliance with which might be fundamental to the Charity's ability to operate or to avoid material penalties; and - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management reviewing the minutes of Trustees’ meetings and inspecting legal correspondence. We assessed the susceptibility of the Group and parent Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and noncompliance with laws and regulations. 19 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - we designed procedures to identify unexpected and unusual journal entries and performed testing to confirm the validity of such postings; and - we evaluated the assumptions and judgements used by management within significant accounting estimates and assessed whether these indicated evidence of management bias. In response to the risk of irregularities and noncompliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - enquiring of management as to actual and potential litigation and claims; and - reviewing any correspondence with relevant regulators such as the Charity Commission. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. ## **Use of our report** 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. Our audit work has been undertaken so that we might state to the Charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed. Peters Elworthy & Moore ## **Peters Elworthy & Moore** Chartered Accountants & Statutory Auditor Salisbury House, Station Road, Cambridge, CB1 2LA ## Date: ## 11/18/2022 Peters Elworthy & Moore is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 20 DocuSign Envelope ID: D9654AEB-6837-4D00-86F6-713895C87900 ## **Consolidated Statement of Financial Activities** ## **For The Year Ended 31 March 2022** 21 Docusign En¥ÈlopÈ ID". D9654AEB-6837-4DOO-86F&713895C87900 Balance Sheets As At 31 March 2022 awr 2022 2022 2021 Fi¥edassets Tan8ible assets Irwesbnents 2*17 2A17 3,455 16 Currentasstts Debtor5 ash at￿nk io 65,319 1,713,998 65.319 I,694￿63 23,186 2,391,324 TotsI(urrenta￿ts 1,719317 1,759,387 2h14510 Creditor5'. amounts falling due within one yeèr li 1850.7841 1830A461 11242.1781 NetcurrertlLibiir 928533 928.541 1,172332 Totsl 355ets less currEntlvdbi1￿eS 931350 931.358 1,175,787 Credftors= amounts falllng dueafteret year li I74￿99} 174*991 1229.1881 Netassets 856,451 856A59 946599 Funds Restritted funds un￿Strirted funds 13 13 616256 230,195 626,264 230,195 678,418 268,181 Tthallunds 856A51 856AS9 946,599 The finandal statements consolldate the resuhs ofthe Charity and its sublsld58ry by vlrtue of control,The Communty Ideas ProRctC.I.C. whKh was set up injuty 2021. The5ub5idi3ry opeTrtes to distributegrants a5 partof the restrirted proiertfund We Make Camden KIT,formore inforrnatim5ee notes l and 16. A Separate 5tatetnent offinancial artwit￿5 ha5 notbeen presented forthe(hÈrity. ThÈ movementof funds ofthe parent thartty was a d￿r￿￿of £￿,140{2021'. sutplus trfE673N41. Appn)ved bythe bDard of TnL5tee5 and 5ignediJntheirb2haKby Simon p￿(eathI￿ Fixed assets
Net current assets
Net non current liabilities
Net assets
**Charity 2022**
Fixed assets
Net current assets
Net non current liabilities
Net assets
**Analysis of net assets between fund (prior year) - charity only**
Fixed assets
Net current assets
Net non current liabilities
Net assets
**At 1 April**
**2021**
**Restricted funds:**
Camden fund
2
KX employment fund
59,976
Future Changemaker
182,035
City Bridge
12,500
Inclusive grants
106,250
Communities Idea
-
Communities Together
3,020
Panel Plus
3,739
Emergency Covid Fund
1
Equality fund
199,960
Social Action Fund
7,899
National Lottery Fund
34,720
Youth Employment
10,978
Young Euston Voices
56,588
Participation Advisors
750
We Make Camden Kit (excluding The Community
Ideas Project C.I.C.)
-
We Make Camden Kit (The Community Ideas
Project C.I.C. only)
-
Google KX
-
**Total restricted funds**
678,418
**Unrestricted funds:**
General fund
268,181
**Total unrestricted funds**
268,181
**Total funds**
946,599
**Group funds**|**Income**
-
-
57,687
46,250
-
3,435
-
-
2,764
247,249
-
56,256
-
7,361
-
305,159
63,369
40,250
829,780
182,208
182,208
1,011,988||**Unrestricted**
**£**
2,817
227,378
-
230,195
2,817
227,378
-
230,195
2,710
265,471
-
268,181
**Transfer**
(2)
-
20,000
-
-
-
-
-
(1)
50,000
-
-
-
-
-
-
-
-
69,997
(69,997)
(69,997)
-||**Restricted**
**Total**
**£**
**£**
-
2,817
701,155
928,533
(74,899)
(74,899)
626,256
856,451
-
2,817
701,163
928,541
(74,899)
(74,899)
626,264
856,459
-
2,710
907,606
1,173,077
(229,188)
(229,188)
678,418
946,599
**Expenditure**
**At 31**
**March**
**2022**
93,209
93,209
(29,904)
30,072
(197,735)
61,987
(47,500)
11,250
(104,712)
1,538
(1,106)
2,329
(782)
2,238
(3,739)
-
236
3,000
(270,000)
227,209
1,500
9,399
(77,748)
13,228
-
10,978
(63,949)
-
(680)
70
(172,040)
133,119
(63,377)
(8)
(13,612)
26,638
(951,939)
626,256
(150,197)
230,195
(150,197)
230,195
(1,102,136)
856,451| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| **14 Group funds** 32 Docusign En¥ÈlopÈ ID". D9654AEB-6837-4DOO-86F&713895C87900 At31Marth l￿z AtIAFflllOII Tiar6fer Expwthe Pe5trkledfur45.' CAmdenfund KXeMP￿yffle￿tfU￿d Fuiut2thangemaker 93209 119gD41 1197,7351 1475001 1104.7121 11.1061 93209 30￿72 61987 11250 1538 2329 2238 59976 I82￿35 12500 1&3250 57N7 46250 20IX)) Ir￿￿51¥e 8rants CommuDoes Idea Communrfae5T(vdether P¥nl Plu5 Effler4enLy COV￿ Fut Equaltyfund scc01Ath￿FUnd P&tbnal Lottery Fu Youth Empbym Youre Eusrwvokes P4rtscipation Advi5or5 We MakeCarndenKITlexrlL*lkngTheCommunty Ideas Proiethci.ci We MakeC3rndEnKIT(ThpQxnmuw IdeaSp￿￿£t C.l.L 3A35 5￿20 3.739 2.764 247249 136 199960 7ffj99 34.720 10978 56588 750 1270IXJ)I 1,5 177.7481 227209 9399 13J28 lo￿8 56256 73£1 1639491 70 305.159 1172WI 133.119 63369 40250 829.780 26h38 626264 Tokirestrktrdfu 678A18 69,997 1951,9311 Genetslfund T¢3ialwestrktedf￿ts 268.181 26B.181 182208 182208 1150.1971 1150.1971 230.lgs 230.195 946599 I￿11987 856N59 T￿￿te￿5 approvedthetrdll5ferofE20JKX)tothp FU￿￿ChangeMakerfund￿rd£sD,l￿tQth& EquabtyfundtoenaFAethE ￿tfyto￿rant mwein P3ne15-thesE havebEenfulty3watd2d s￿￿e th2yEarEnd. Othersmalitrènsferswe￿MédÈL0the Camden FUndar￿thÈEmetyertty CovidfundtoremL*e p￿￿10￿$10U￿lW&tornC¥ethèffunds ts)£￿1. C•rK*lled gr•nts The tsntrlled9rantssetOJt In 12 ha* been retumedtothefund ￿l￿al￿￿Sed. Asa reSultsc￿efun￿suthas the Camden Fund, whithwere dosed, n(N4 have lut05.TheTtustee5wiII seektoawardgrnnt5aFVKoW4tefoTt￿airnS ofthe5efund5 ￿th￿fU￿re. cau5irythe re5trictedfunthtobe £144.CKN)higherthantfvwou 33 Docusign En¥ÈlopÈ ID". D9654AEB-6837-4DOO-86F&713895C87900 M0￿Ment Infun¢ts Iprf(Jryearl- ¢harityonty At l April zoz At 31 March 2021 Income Tvansler Expendlture Restricted fund5'. Camden fund KX employmentfund FutureChan8emaker tity 8rid8e Inclu51ve 8rants Communities together 7,954 431.012 269,594 2SI.768 37,50D 105,850 1438.9631 1208,7021 1104,5651 132,5001 59.976 182,035 12,SCK) 106.250 3.020 3.739 24,833 7,5LKI 3,020 3,739 818 Emergency Cowd Fund Equalityfund 5¢clal Aaion Fund National Lottery Fund Youth employrnent Young Eu#on Voices Participation Athi50r5 Argent Heroes Totsl re5trirted funds 474.329 199,385 101.4 64.520 1475,1461 575 199,960 7,899 34.720 10.978 56.588 750 193,5011 129.8001 10,978 I￿,243 750 143.6551 1.2Th) 2,047.550 11.2001 11.428.033) 58.901 678.418 Unrestricted funds.. General fund Totrl unrestrlcted furbds 214,054 214,054 293,474 293A74 1239.3471 1239.3471 268.181 268,181 Totsl fund5 272,955 2,341,025 11,667,381) 946,599 Re5tr1ctedlundsare f0rtheloll￿￿n8 purposeL' CamdeTh Fund Camden giving ￿ workingvmth H52 Ltd. andthe London Borou8h of Camden to disthbutefundingtoavilsouetyor8anisationsto.createa sense of plate, In communit*s afffertÈd by ihÈ dÈvelopmentof HS2 Ltd. ¥xeMp￿rne￿ttsJnd Thlsfund is rn￿e poss[b￿ byArgentand the London BDfoughof Qmden, itèlms th brfdgethe gèpbetween emplo¥ersand c￿[1 sotietyto securelobs fo¢tsmden rÈsidents. Futwectharymaker Th15fund almsto reduceyouthvlolence In Camden by8lvinB Brantsto mental heahh 5ervkesand proSectsthat provlde posltSve role rnodelsto people aged 16-25. Emer8enryCo¥ld Fund Th15fund wa5 createdto respond tothe impact ofcovld 19. 34 Docusign En¥ÈlopÈ ID". D9654AEB-6837-4DOO-86F&713895C87900 (lty Brfd8e Funding toward5ourPartnership rDana8Erf5 5al8ry. N•tlon¥l Lottéry FundSng towardsourPartnership Officerand Head of Partnershlp'ssalary. IncluslveGrants Carnden disability action prowde 5afe8uardin&trainin8and advice for peoplewith d15abiliiie5 alongside our role in adminisrerin8thisfund. We Ma*eCamden Kir Thisfund exists th fund great Sdeas thaiwill make Camden a belter place and athleve Camden's Core Mlssions," everyone eatswell everyday, young eople have greatopportunitie5. there'5 diversity amon85tpeople in power.. we're INing in sustainable nei8hbourhoods. Guo8lE Kxfvnd Thisisa collaborative project wlth Camden GI￿n£, Googleand local citlzensto produ￿ Inslghtson communlty spaces on the knngs Cros5 development. EqualltyFund Thi5fund w3streatedtty prowde uhrestrirted funding of upto£30,NA a¢rosstwoye¥rst¢ charitiesandso¢ial enterprises in Camden. 15 Related PartyTransictlon5 ringthEyEar3 Tw5teegrftedllrfice S￿3￿￿t0th￿CharILY atnllcO5Lth&Y3￿EOfth￿grft￿a5£l4lU0l2ll21.. £14,4WI,this has bee￿re￿￿￿15edwthI￿tthInc￿wne and0ffl￿¢oSts. EmptyersoFthReTNsteesfaclkntsdempltyeefundralsh*dudr*the yearvéhKhamountsdtoÉ29.60412021.. £20.774lènd£S50oneTNstee dwtedtothe ￿n￿{2021E1wj Enilw¥54wardedtoa rharity¥vhich¥ Twstee i5conneLtedto12021.. E15.1181. 16 In¥e#merf$ Thecommunity IdeasPfOleLtC.l.C VrdsinEarwated￿720jU￿Io2I1nf￿￿ndarAwJleS.thls 153 sub5h4iary ofCamdenGp+in8 ￿ Virt￿01 camrnoncontrol. The S￿￿￿[0mpanY numbEfi5 13521090andthetegi5teredoffitÈ ts 5-7 8utk stseÈ¢LLYwkn,NWI 8FI. The Subsid￿ty￿peta￿StOdi5tr￿￿ÈÈrdrttsaS wrtofthe Te5tricted We MakeCamdeD KITIolThYlvld￿Is. The yearer￿15cutse￿1IY 31 DeombÈr,aS Suththe mAnaiemÈnt袢tsJntsh3vÈ beenmade upto31marth2022for¢on￿11ddtsn puwes,èndthÈseare unaud¢ed.￿l$lhein1e￿tson0Ith¢1w5lee$1Qrnalethpyear¢ndScO1e￿￿1￿￿s1nthef￿wre. Theuryoldath)n has beenperfomedona lI￿ty 11reba5￿wthII tran5bcbon5b2tweenthEChatiLy a[￿subS￿￿￿ry elwninatedupDll llln5o1￿athn. Thesubisidwryhad Ir￿meforthe perfodof E63J69lwhKhvraSre￿￿edfr0mQmdenGNIllg1 Jndeyn¢fftureof £63277 resubn8 ln?defwfor￿￿rfr￿0f£8. Ithada55ets uf£a3,ltslatMlliabilffap50f E33Jl2rESUhw￿ in3 nEtfundd2fiatuf£8. A5at31 March 2022tt￿o￿rifyQW￿dth￿S￿￿Id￿ryfl3,174. 35