OpenCharities

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2022-06-30-accounts

Names and addresses ofadvisers Names and addresses ofadvisers (Optional information) information)
T
ofadviser
Name
Address
Name ofchief executive or names ofsenior staff members (Optional information)
Antony Wroe
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s
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Description ofthe chary's trusts
Type ofgoverning
document
Constitution
How the charity is constituted CIO Foundation
Trustee selection methods APPointed
bY the existing trustees.
Additional Additional governance
issues (Optional
governance
issues (Optional
information)
You may choose to include
additional information,
where
relevant,
about:
~ policies and procedures
adopted for the induction and
training oftrustees;
~ the charity's
organisational
structure and any wider
network with which the charity
works;
~ relationship
with any related
parties;
~ trustees' consideration
of
major risks and the system
and procedures
to manage
them.

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With the events we had set up in 2021 namely the London Landmark
Half
Marathon
and the London Marathon
out ofthe way, we were able to
assess the benefits from having taken part in these events.
Setting them up and finding enough
supporters
to run in the marathons
for us isa very time-consuming
operation.
This is compounded
by the
fact Clothing
Collective isa little-known
charity so it's particularly
difficult
to attract runners to run for us at this stage in our development.
Given the financial
investment
required
to take part in these events and
the excessive time involved
managing
them, the monetary
return
received was disproportionate
to the investment
in time and money put
in.
Therefore, we decided to relook at our priorities for the year ahead which
we identified as being imperative
we recruited
new trustees to the board
who would be able to bring their skills and experience to the charity.
We identified we needed trustees
with skills in business
development
to
steer the way ahead
building
new relationships
within the corporate
sector and PR &Communications
who would be able to steer getting the
charity name to the wider audience.
In addition to this we formally partnered
with Charity Retail Association
who are rolling out the introduction
oftheir very own gift card. This isa
significant
development
for us and it immediately
opens up all members
ofthe CRA who opt into accepting their gift cards to us.
In addition,
it
automatically
removes a layer ofbusiness development
where Clothing
Collective would have had to undertake
to sign up shops toaccept our
vouchers.
With this partnership
we are relieved from that onerous task
and responsibility
and ofthe chore ofmaintaining
a regular relationship
with the shops as this is all taken care ofby the CRA. The forecast of
new shop signing
up to the gift card scheme is in the region of3,000
shops by the end ofthe year.
The development
ofworking
with the CRA and their Gift Card scheme,
means Clothing Collective
will replace issuing our paper-based
vouchers
in favour ofissuing
Gift Cards instead.
We have made some progress where we have recruited
volunteers
who
are working
on developing
our website with the intention
of building
our
own database ofsupports
allowing
us to keep in touch with them.
We have identified
an agency where we have outsourced
our fundraising
activities such as grant applications.
It is early days yet and not enough
time has elapse for us the assess the result ofthe project, but should
it
be successful as we anticipate,
we would expand
using the outsourced
agency.
We have continued
to receive enquiries
from different organisations
requesting
support
in providing
them with our vouchers
which has been
encouraging
in the sense our name and reputation
has grown.
We have
had to be selective when considering
these requests to support such
causes due to our own limited funding.
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Briefstatement ofthe We hold enough reserves to meet any liabilities.
charity's
policy on reserves
Details ofany funds materially
in deficit
None
Further financial
review details
(Optional information)
You may choose to include
additional
information,
where
relevant about:
~
the chanty's
principal
With the introduction
ofthe CRA gift card, this allows the charity greater
control ofour finances as we are purchasing
gift cards in advance where
we are able to monitor their use such as redemption
or expiry from the
back-end
portal the CRA provides to us.
sources offunds (including
any fundraising);
~
how expenditure
has
supported
the key objectives
ofthe charity;
~
investment
policy and
objectives induding
any
ethical investment
policy
adopted.
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O CHARITY COMMISSION
FOR ENGIANO
ANO WAlES
CHARITY COMMISSION
FOR ENGIANO
ANO WAlES
CHARITY COMMISSION
FOR ENGIANO
ANO WAlES
CHARITY COMMISSION
FOR ENGIANO
ANO WAlES
Clothe 38e - Thank You -"Clothing Collective" Collective" 1178825
Recei ts and a ents accounts CC16a
To
01/07/2021 30/06/2022
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Unrestricted
funds
Restricted
funds
Endowment
funds
Total funds
A1 Recei
Interest &Olher income 8,317
ross /ncome r
8,317
an mvestmentsa, see
Total receipts
Purchase of charity gilt cents / vouchers 3,785
Admtnistrasve
Expenses
NPG Grant Starter Pack
5,000 3,420
Sub total
A4Asset and investment
purchases,
Sub total
Total payments 12,888 3,748
Net ofrecelptsl(paymenfs)
A5 Transl'ers between funds
ASCash funds last year end
Cash funds this year
end 7,
12,1
~ a ~ ~ ~ ~ ~ ~ ~ ~ e ~
Unrestricted Restricted Endowment
Uuta&jor tKs Details to funds
nearest
0 funds
tonearest 0
to funds
nearest f
B1Cash funds 2,709
31~7
Tofal cash t'unds
(at)me barr@ca with receipts and paymenla
~a))
Unrestricted Restricted Endowment
funds funds funds
Details to nearest 0 tonearest r. to nearest 0
B2Other monetary assets
Fund to whhh ~ Current value
Details asset onal
Current value
Details onal
B4Assets retained forthe
charity's own use
Fund to whkh
Details llahll relalas
B5Liabilities 1,000
Signed by one or two trustees on
all the trustees
behalf of Signature Print Name Date of
a
val
5r&~ g~.5.~2.