**REGISTERED COMPANY NUMBER: 11723888 (England and Wales) REGISTERED CHARITY NUMBER: 1189434** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31st December 2020** ## **for** ## **Common Earth** **(A Company Limited by Guarantee)** Moulton Johnson Limited Chartered Accountants 29a Crown Street Brentwood Essex CM14 4BA **Common Earth** ## **Contents of the Financial Statements for the Year Ended 31st December 2020** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|8| **Common Earth (Registered number: 11723888)** ## **Report of the Trustees for the Year Ended 31st December 2020** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's objective is to act as a platform for delivering United Nations 17 Sustainable Development Goals to the 54 countries of The Commonwealth and beyond. ## **Significant activities** The charity aims to contribute by providing advocacy, advice and information and by promoting the conservation and regeneration of the environment generally throughout the Commonwealth, through supporting, scaling and implementing regenerative projects and promoting scientific and academic research and education. ## **Public benefit** The charity's trustees have had regard to the Charity Commission's guidance on public benefit and they consider that the charity's main activities are undertaken for public benefit. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** Consistent with its constitution and its mandate from the Commonwealth Secretariat (via its associate, Cloudburst Foundation's Memorandum of Understanding) Common Earth has continued to facilitate projects in the field of regenerative development, including Project CETI in Dominica; the establishment of a systemic network of marine protection areas in the Caribbean, under the auspices of the regional governmental body, CARICOM, the establishment of a regenerative development institute of research and learning, in partnership with the University of the West Indies and University of Haifa; the development of a wide range of academic and other collaborations with universities, such as University of New South Wales, and other organisations; the furtherance of the aims of the Common Earth Alliance and Working Groups established under its auspices, including Roadmapping, Regenerative Finance, Project Portfolio - all aimed at working within a regenerative framework of new financial instruments, systemically-changing projects and national/regional mapping of the nodal points of delivery for regenerative projects from Common Earth itself and its partner organisations. ## **Fundraising activities** The charity has relied on largely private donations to sustain and develop its activities as a prelude to a more significant public fundraising planned for 2022. ## **FINANCIAL REVIEW** ## **Financial position** During the year, net incoming resources on unrestricted funds amounted to £13,105 (2019: £nil). The balance on unrestricted reserves at the end of the year amounted to £13,105 (2019: £nil). ## **Reserves policy** The trustees' policy on reserves is that these shall so far as practical be held in interest bearing deposit accounts. The company has no endowment funds. Income determines the projects that the charity undertakes and the directors will decide this in light of the financial position. ## **Funds in deficit** There are no funds in deficit at the year-end. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** 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. Page 1 **Common Earth (Registered number: 11723888)** ## **Report of the Trustees for the Year Ended 31st December 2020** The directors of the charity are known as 'Trustees' and the board of directors as the 'Board of Trustees'. The charity may appoint new trustees by ordinary resolution otherwise at a general meeting of the trustees. ## **Organisational structure** The administrative activities of the charity are principally carried on at 10 Gresham Street, London EC2V 7JD and at addresses in Italy. Project-related activities are carried out in the Caribbean and Israel. There has been no significant change in the company's activity and the directors do not anticipate any change. There have been no financially significant events since the year-end. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 11723888 (England and Wales) ## **Registered Charity number** 1189434 ## **Registered office** 29a Crown Street Brentwood Essex CM14 4BA ## **Trustees** M Anderson (resigned 8.3.21) A Bartesaghi C Gorell Barnes (resigned 31.8.21) Mrs M T Harland A J N King ## **Independent Examiner** Ian Sutton ACA FCCA Moulton Johnson Limited Chartered Accountants 29a Crown Street Brentwood Essex CM14 4BA This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 17th September 2021 and signed on its behalf by: A Bartesaghi - Trustee Page 2 **Independent Examiner's Report to the Trustees of Common Earth** ## **Independent examiner's report to the trustees of Common Earth ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2020. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as 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 Company 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. Ian Sutton ACA FCCA Moulton Johnson Limited Chartered Accountants 29a Crown Street Brentwood Essex CM14 4BA 23rd September 2021 Page 3 **Common Earth** ## **Statement of Financial Activities for the Year Ended 31st December 2020** ||||Period|| |---|---|---|---|---| ||||12.12.18|| |||**Year Ended**|to|| |||**31.12.20**|31.12.19|| |||**Unrestricted**|Total|| |||**fund**|funds|| ||Notes|**£**|£|| |**INCOME AND ENDOWMENTS FROM**||||| |Donations and legacies||**33,644**||-| |Investment income|3|**2**||-| |**Total**||**33,646**||-| |**EXPENDITURE ON**||||| |Raising funds|4|**10,351**||-| |**Charitable activities**||||| |Overseas - Fondazione Cloudburst, Italy||||| |(Cloudburst Foundation)||**9,190**||-| |Other||**2,100**||-| |**Total**||**21,641**||-| |**NET INCOME**||**12,005**||-| |**RECONCILIATION OF FUNDS**||||| |**Total funds brought forward**||**-**||-| |**TOTAL FUNDS CARRIED FORWARD**||**12,005**||-| The notes form part of these financial statements Page 4 **Common Earth (Registered number: 11723888)** ## **Balance Sheet 31st December 2020** |||**31.12.20**|31.12.19| |---|---|---|---| |||**Unrestricted**|Total| |||**fund**|funds| ||Notes|**£**|£| |**CURRENT ASSETS**|||| |Cash at bank||**14,104**|-| |**CREDITORS**|||| |Amounts falling due within one year|7|**(2,099)**|-| |**NET CURRENT ASSETS**||**12,005**|-| |**TOTAL ASSETS LESS CURRENT**|||| |**LIABILITIES**||**12,005**|-| |**NET ASSETS**||**12,005**|-| |**FUNDS**|8||| |Unrestricted funds||**12,005**|-| |**TOTAL FUNDS**||**12,005**|-| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020. The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 17th September 2021 and were signed on its behalf by: A Bartesaghi - Trustee A J N King - Trustee The notes form part of these financial statements Page 5 **Common Earth** ## **Notes to the Financial Statements for the Year Ended 31st December 2020** ## **1. STATUTORY INFORMATION** Common Earth is a private company limited by guarantee without share capital, registered in England and Wales. It has a use of 'Limited' exemption. The company's registered number and registered office address can be found within the Report of the Trustees. The presentation currency of the financial statements is the Pound Sterling (£). ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The directors have reviewed the ongoing situation with COVID-19 and consider it is reasonable to prepare the financial statements on a going concern basis. The charity has sufficient reserves to support it through the pandemic and, therefore, the directors see no reasonable concern as to the charity's ability to continue to operate for the next 12 months. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 6 continued... **Common Earth** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2020** ## **3. INVESTMENT INCOME** ## **4.** |**INVESTMENT INCOME**||| |---|---|---| |||Period| |||12.12.18| ||**Year Ended**|to| ||**31.12.20**|31.12.19| ||**£**|£| |Deposit account interest|**2**|-| |**RAISING FUNDS**||| |**Raising donations and legacies**||| |||Period| |||12.12.18| ||**Year Ended**|to| ||**31.12.20**|31.12.19| ||**£**|£| |Support costs|**10,351**|-| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the period ended 31st December 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31st December 2020 nor for the period ended 31st December 2019. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Total|| |---|---|---| ||funds|| ||£|| |**NET INCOME**||-| |**TOTAL FUNDS CARRIED FORWARD**||-| continued... Page 7 **Common Earth** ## **Notes to the Financial Statements - continued for the Year Ended 31st December 2020** ## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||||**31.12.20**|31.12.19| |---|---|---|---|---| ||||**£**|£| ||Accrued expenses||**2,099**|-| |**8.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.1.20|in funds|31.12.20| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**-**|**12,005**|**12,005**| ||**TOTAL FUNDS**|**-**|**12,005**|**12,005**| ||Net movement in funds, included in the above are as follows:|||| |||Incoming|Resources|Movement| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**33,646**|**(21,641)**|**12,005**| ||**TOTAL FUNDS**|**33,646**|**(21,641)**|**12,005**| ## **9. RELATED PARTY DISCLOSURES** During the year, donations amounting to £21,388 (2019: £nil) were received from the trustees. The charity made a grant amounting to £9,190 to the Cloudburst Foundation in Italy, a charity in which Mrs. R. Khoury has an interest. Page 8