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2023-03-31-accounts

CHARITY REGISTRATION NUMBER: 1189499

The International Roundtable for Sustainable Tea

Unaudited Financial Statements

31 March 2023

The International Roundtable for Sustainable Tea

Financial Statements

Year ended 31 March 2023

Page
Trustees' annual report 1
Independent examiner's report to the trustees 11
Statement of financial activities 12
Statement of financial position 13
Notes to the financial statements 14

The International Roundtable for Sustainable Tea

Trustees' Annual Report

Year ended 31 March 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.

Reference and Administrative Details

Registered Charity Name The International Roundtable for Sustainable Tea Charity Registration Number 1189499 Principal Office 44 Princes Street Oxford OX4 1DD The Trustees Aarti Kapoor Art Prapha (appointed 14 June 2022) Debra Coulter Filbert Kavia (appointed 3 May 2023) Jane Nyambura (appointed 26 April 2023) Krishanti Dharmaraj Nikhil Subbiah Stirling Smith Chief Executive Officer Sabita Banerji Independent Examiner Theresa Warren FCA 8 The Old Yard Lodge Farm Business Centre Wolverton Road Castlethorpe Milton Keynes MK19 7ES

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document and constitution

THIRST was established as a Charitable Incorporated Organisation on 15th May 2020 and is a registered charity with no share capital. The charity is governed by its constitution, dated 20 February 2019.

All trustees are members of the charity. The only persons eligible to be members of the charity are its trustees and any member who ceases to be a charity trustee automatically ceases to be a member of the charity. As at 31 March 2023 there were 5 members. In the event of the charity being wound up, no liability accrues to the members for settling the charity's debts and liabilities.

Organisational structure

The governance of THIRST is carried out by a Board of Trustees that meets quarterly. Day-to-day management is delegated to the Chief Executive Officer (CEO).

Recruitment, appointment and induction of Trustees

Charity trustees are appointed for a term of 3 years, with the passing of a resolution by the existing trustees. Trustees must have due consideration to the skills, knowledge and experience needed of the effective administration of the charity. Newly appointed trustees are provided with a copy of the current version of the charity’s constitution, together with the latest Trustees’ Annual Report and financial statements.

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

THIRST Board of Trustees and Staff Trustees

Aarti Kapoor (Appointed 17/10/2021)

Aarti is the founder and Executive Director of Embode, an international consultancy based in Bangkok and focused on human rights in business supply chains, child rights and protection as well as leadership development in non-profit organisations. Aarti is qualified as a lawyer in the UK and the US, and has almost 20 years of technical experience responding to human trafficking, forced labour, child exploitation, child labour and other related issues, particularly in the UK, Southeast Asia and Africa.

Art Prapha (Appointed 14/6/2022)

Art Prapha is Senior Program Manager, Corporate Accountability at the Freedom Fund. Previously, Art co-led Oxfam’s global Supermarket Campaign, Behind the Barcodes; headed Oxfam in Thailand’s Private Sector team; cofounded the Coalition for Ethical & Sustainable Seafood; and worked on social enterprise programs to connect women-led, community-based enterprises to markets. He holds a BA in Accounting & Commercial Law from Victoria University, Wellington and an MA in International Development from the London School of Economics and Political Science; and is pursuing an Executive MBA at Judge Business School, Cambridge University.

Debbie Coulter – Treasurer (Appointed 7/11/2018)

An active trade unionist for over 30 years, Debbie was elected Deputy General Secretary of the GMB Trade Union in 2003. She served as an ACAS Council Member and on the Women & Work Commission into Equal Pay and the Commission for Vulnerable Employment. She was Ethical Trading Initiative’s Head of Programmes and now works voluntarily for many charitable organisations.

Filbert Kavia (Appointed 03/05/2023)

Filbert is the Director of Transform Trade, an international organization based in the UK focused on fair trade and climate justice. Previously he was operations director of The Wood Foundation Africa on extensive smallholder tea farms development projects in East Africa. He has over 25 years of working experience in sustainable tea production in East Africa. He has strong experience working with smallholder development projects, managing tea supply chains, and marketing. Technical expertise in tea business, strategic planning, supply chain management and stakeholders’ engagements and partnerships. Filbert is trained in agriculture, agricultural economics, and project management.

Jane Nyambura (Appointed 26/04/2023)

Jane is a tea farmer. She also has over 15 years of experience as a sustainability and partnership professional working with companies and key tea organisations in the Kenyan tea sector. These include 12 years with the Ethical Tea Partnership, latterly as Stakeholder and Partnerships Manager. She was a trustee of the Kenya Tea Development Agency Foundation for five years and is now a trustee of Ripple Effect. She holds an MBA in Strategic Management and is a member of various other advisory boards and trusts.

Krishanti Dharmaraj (Appointed 7/11/2018)

Krishanti is the Executive Director of the Center for Women’s Global Leadership in New York and co-founder of WILD for Human Rights (Women’s Institute for Leadership Development) and the Sri Lanka Children’s Fund. Formerly, she was a spokesperson for Amnesty International USA.

Nikhil Subbiah – Chair (Appointed 7/11/2018)

Nikhil is an investment funds lawyer at a leading global law firm, with experience working with impact investments, development finance institutions and in emerging markets. He was previously a Churchill Memorial Trust Fellow and conducted a research trip to tea plantations in India and Sri Lanka.

Stirling Smith (Appointed 7/11/2018)

Stirling is an independent ethical trade consultant and former Chief Technical Adviser for the International Labour Organisation in India. He has worked for DFID, British Council, Fair Labour Association, trade unions, NGOs and several companies.

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Founder and CEO

Sabita Banerji

An economic justice advisor who was born and raised on tea plantations in Kerala and Assam, Sabita has nearly 20 years’ experience working in ethical trade and international development having held strategic posts at Oxfam and the Ethical Trading Initiative. She was previously a member of the Board of Directors of Just Change, UK – a voluntary community tea trading initiative.

Associate Consultants

Alysha Shivji

Alysha is a researcher with a PhD from the Business and Human Rights Catalyst at the Alliance Manchester Business School. She conducted a case study with the Fair Food Program and its Worker-driven Social Responsibility paradigm for her PhD and to support the Office of the High Commissioner’s Accountability and Remedy Project. Prior to her doctoral studies, Alysha attended Stanford University for her undergraduate and master’s in Sociology. Her master’s research focused on anti-trafficking work. Alysha has also worked as a Research Analyst at Apple.

Caroline Sloan

Caroline qualified as a lawyer and has years of experience in the international energy sector. She now provides research, training and advisory services on sustainability, human rights and corporate accountability, and is an Associate Lecturer at Oxford Brookes Business School.

Justin Rippon

Justin Rippon started his career in the Tea industry in 1997, mostly on the commercial side, as a trader, the majority of which was spent in Africa, and more recently for Van Rees in Malawi and Kenya, managing buying, blending and export operations – before returning to senior management roles in Europe. Since 2021 Justin has worked as a specialist independent consultant advising on tea procurement and logistics strategies.

Narendranath Dharmaraj

Dharmaraj has 46 years’ experience in the tea-industry, across the tea value chain and across Indian and international geographies. His employers included Brooke Bond, Unilever, Shapoorji Pallonji and Harrisons Malayalam Ltd – latterly as Chief Executive. He was President of UPASI (the apex body of plantation owners of South India), a Member of the Tea Board of India and part of several Government of India delegations at the FAO Intergovernmental Group on Tea. Since retirement, as a strategic adviser and operations consultant in agribusiness with special focus on tea he has been driving a number of initiatives in the interests of the holistic sustainability of the tea industry. His clients include commercial organisations, governments and NGOs. He has been an active participant in THIRST initiatives.

Michael Pennant-Jones

Michael Pennant-Jones is a freelance sustainability consultant specialising in the tea sector with over 20 years sustainability experience working for both consultancies and within companies. He began his career at Typhoo working within the buying department, subsequently joining Finlays becoming Group Head of Sustainability. Latterly a Director at Impactt Limited a specialist Human Rights Consultancy. He has been the vice-Chair at Ethical Tea Partnership, a Board member of the Ethical Trade Initiative and was one of the founder Trustees of THIRST. He has sat on numerous certification committees and has designed, initiated and managed multiple projects in tea both at a strategic level and at an operational level. Knowledgeable across all areas of Sustainability, he takes a strong business perspective to enable practical and impact focused solutions.

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

THIRST Board of Trustees and Staff (continued)

Designers

Maia Bergh (pro bono/freelance) Bounce

Volunteers

Caroline Sloan Feima Sannoh

OBJECTIVES AND ACTIVITIES

Principal Objectives

THIRST (The International Roundtable for Sustainable Tea) is established to promote sustainable development for the benefit of the public by providing a platform for civil society organisations to work together for:

a) the preservation, conservation and the protection of the environment and the prudent use of natural resources in tea growing areas;

b) the prevention and relief of poverty and the improvement of the conditions of life among the socially and economically disadvantaged communities on tea plantations and small tea farms;

c) the promotion of sustainable means of achieving economic growth and regeneration of tea growing areas.

THIRST champions human rights in the global tea industry.

THIRST is a collaborative platform for all committed to transforming the tea industry into a fair and thriving industry for all involved. It is funded through grants, contributions from tea industry stakeholders, consultancy fees and income from tickets for events.

It provides a space for civil society, tea workers and farmers to work together towards systemic change via collaboration, transparency, mutual understanding and respect. Its vision is a fair and sustainable tea industry which respects and empowers tea workers and farmers, and protects their rights and environment.

THIRST's goals align with the UN Sustainable Development Goals, the UN Guiding Principles on Business and Human Rights, and the International Labour Organisation Conventions.

It seeks decent work and living wages, gender equity, improved health, housing, safety and benefits, protected environments and fair, effective and transparent systems.

The Trustees have complied with their duty to have due regard to the guidance, published by The Charity Commission (specifically PB2), on public benefit in exercising their powers or duties.

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

PERFORMANCE AND ACHIEVEMENTS APRIL 2022 - MARCH 2023

Research and analysis

Human Rights Impact Assessment of the Tea Sector

In 2022 we completed the first phase of our major, foundational study of human rights in the global tea sector. Mindful that many corporate human rights impact assessments (HRIAs) conclude that there is a limited amount that an individual company can do to resolve human rights issues in their supply chains, THIRST took a sector-wide approach. We are looking not only at the tea sector system as a whole but, also at the social, political and economic context within which it operates. By conducting the study in a participatory way, through consultation with a wide range of tea stakeholders across the world, we seek to ensure their buy-in and commitment when we get to the stage of making action plans. For more detail on the HRIA and how it works see the latest HRIA Update on our website.

Advocacy

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

Networking, collaborations, engagements etc.

Tea companies:

Conversations with the following tea companies ranged from introductory calls with their sustainability teams and/or leadership to providing advice and consultancy:

NGOs

Conversations with the following organisations ranged from introductory calls to providing advice and exploring potential for collaboration:

Other organisations and consultants

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

Conferences, workshops and meetings

Media appearances

Talks

Blogs

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

Outcomes of our activities

It is very hard to quantify the outcomes and impacts of THIRST’s work at this stage. We are still in the process of raising awareness about human rights breaches in the tea sector and the role of the industry in perpetuating these. We are also pushing for the industry to take a more systemic approach to responding to issues that emerge rather than purely through philanthropic projects on the ground that ignore the root causes of the problem.

We can only get a sense of the impact of this work through the level of engagement in our activities and the prioritisation of workers in the tea sector. In 2015, ETI members called to a meeting to respond to the uprising of women workers in a South Indian tea plantation claimed that tea was not a high priority for them. Now many supermarkets place tea within their shortlist of high risk supply chains.

The financial investments that tea companies, supermarkets, certification bodies and human rights organisations have made into THIRST and our HRIA are a testament to how much they value the work.

The number of companies and organizations that approach THIRST for advice on human rights in the tea sector also confirms both the commitment to people in the tea sector and the fact that THIRST is supplying a need.

After the completion of the HRIA, once we have conducted a series of international, multi-stakeholder roundtables in key tea growing and market regions, we will be in a better position to set SMART objectives and clear KPIs for our work and to observe its impact on tea industry stakeholders and on the women and men at the source of the tea value chain.

Feedback from our network Monthly updates:

Blog on sexual exploitation in the tea sector

‘Why did all those policies, procedures and trainings fail to protect women in Kenyan tea?’

CEO Talk

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

FINANCIAL REVIEW

THIRST’s funding this year came primarily from the tea industry itself in the form of consultancies, contributions towards the HRIA and purchasing tickets to THIRST events. Financial contributors and clients included:

During the year the charitable organisation received total income of £77,085 (2022: £71,991), of which £56,084 (2022: £32,515) related to Restricted Fund activities.

Total expenditure was £58,879 (2022: £66,186), of which £48,850 (2022: £29,950) related to Restricted Fund activities. These figures include amounts of £Nil (2022: £27,574) in relation to unrestricted, in kind, donated services.

The charity generated a surplus for the year of £18,206 (2022: Surplus £5,805), of which £7,234 (2022: £2,565) related to Restricted Funds.

At the year end the charity had total funds of £21,138 (2022: £2,932), of which £11,339 (2022: £367) were Unrestricted Funds and £9,799 (2022: £2,565) were Restricted Funds.

PLANS FOR FUTURE PERIODS

THIRST’s primary focus will continue to be on its Human Rights Impact Assessment (HRIA) of the Global Tea Sector. In 2024 we will move into the Action Planning phase – bringing together a cross section of tea industry stakeholders to use the findings of Phases 1 & 2 (literature review and root cause analysis) to decide on the most effective actions and collaborations to take.

As we reach the end of the HRIA, we will also begin to explore how climate change is impacting on tea workers and farmers and their communities, and what they and the companies that employ and buy from them can do to prevent and mitigate climate impacts.

We will review our website to make it more user-friendly and efficient to maintain. We will continue to provide our news updates (though possibly on a quarterly rather than monthly basis) and updating our Knowledge Hub. We will continue to respond where ad hoc events call for advocacy and will seize every opportunity to promote the human rights, wellbeing, and empowerment of tea workers and farmers and for measures that will ensure their environment, and the global environment, is protected from harm.

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

THANKS AND ACKNOWLEDGEMENTS

THIRST would like to offer our heartfelt thanks to everyone who has supported our work through voluntary work, advice, financial and moral support and who have provided encouragement, support, advice, donations, subscribed to THIRST updates and participated in our roundtables. Above all we thank the workers and farmers who grow our tea, their families and communities, and all the tea industry stakeholders that have participated in our research.

The trustees' annual report was approved on ……………….. and signed on behalf of the board of trustees by:

Jane Nyambura Trustee

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The International Roundtable for Sustainable Tea

Trustees' Annual Report (continued)

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of The International Roundtable for Sustainable Tea ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Theresa Warren FCA Independent Examiner

8 The Old Yard Lodge Farm Business Centre Wolverton Road Castlethorpe Milton Keynes MK19 7ES

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The International Roundtable for Sustainable Tea

Statement of Financial Activities

Year ended 31 March 2023

Year to
Year to 31 Mar 23 31 Mar 22
Unrestricted Restricted
funds fundsTotal funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 16,535 – 16,535 39,210
Charitable activities 5 4,456 56,084 60,540 32,781
Investment income 10 – 10 –
──────── ──────── ──────── ────────
Total income 21,001 56,084 77,085 71,991
════════ ════════ ════════ ════════
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies 6 – – – 1,200
Expenditure on charitable activities 7,8 10,029 48,850 58,879 64,986
──────── ──────── ──────── ────────
Total expenditure 10,029 48,850 58,879 66,186
════════ ════════ ════════ ════════
──────── ──────── ──────── ────────
Net income/(expenditure) and net
movement in funds 10,972 7,234 18,206 5,805
════════ ════════ ════════ ════════
Reconciliation of funds
Total funds brought forward 367 2,565 2,932 (2,873)
──────── ──────── ──────── ────────
Total funds carried forward 11,339 9,799 21,138 2,932
════════ ════════ ════════ ════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 18 form part of these financial statements.

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The International Roundtable for Sustainable Tea

Statement of Financial Position

31 March 2023

2023 2022
Note £ £
Current assets
Debtors 12 20,000 12,017
Cash at bank and in hand 6,938 6,217
──────── ────────
26,938 18,234
Creditors: amounts falling due within one year 13 5,800 15,302
──────── ───────
Net current assets 21,138 2,932
─────── ───────
Total assets less current liabilities 21,138 2,932
─────── ───────
Net assets 21,138 2,932
═══════ ═══════
Funds of the charity
Restricted funds 9,799 2,565
Unrestricted funds 11,339 367
─────── ───────
Total charity funds 14 21,138
═══════		 2,932
═══════

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

Jane Nyambura Trustee

The notes on pages 14 to 18 form part of these financial statements.

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The International Roundtable for Sustainable Tea

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the principal office is 44 Princes Street, Oxford, OX4 1DD

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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The International Roundtable for Sustainable Tea

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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The International Roundtable for Sustainable Tea

Notes to the Financial Statements (continued)

Year ended 31 March 2023

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Donations
Donated services 10,473 10,473 27,574 27,574
General donations 2,777 2,777 885 885
Grants
NGO Participation Fund 3,285 3,285 5,751 5,751
Van Neste Foundation – – 5,000 5,000
──────── ──────── ──────── ────────
16,535 16,535 39,210 39,210
════════ ════════ ════════ ════════
5. Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Grants and fees received as part of direct charitable
activities 4,456 56,084 60,540
═══════ ════════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Grants and fees received as part of direct charitable
activities 266 32,515 32,781
════ ════════ ════════
6. Costs of raising donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Costs of raising donations and legacies
– Grants applications – – 1,200 1,200
═══════ ═══════ ═══════ ═══════
7. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Research and Literature Reviews – 48,850 48,850
Support costs 10,029 – 10,029
──────── ──────── ────────
10,029 48,850 58,879
════════ ════════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Research and Literature Reviews – 29,950 29,950
Support costs 35,036 – 35,036
──────── ──────── ────────
35,036 29,950 64,986
════════ ════════ ════════

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The International Roundtable for Sustainable Tea

Notes to the Financial Statements (continued)

Year ended 31 March 2023

8. Support Costs

8. Support Costs
Unrestricted Unrestricted
Funds 2023 funds 2022
£ £
Consultant costs (including in kind time) 6,550 29,202
Travel 820 –
IT Costs 1,931 853
Office costs 20 –
Bank charges 108 42
Governance costs:
-
Legal & professional fees		 – 2,589
-
Annual report fees		 – 1,750
-
Accountancy		 600 600
──────── ────────
10,029 35,036
════════ ════════
9. Independent examination fees
Year to Year to
31 Mar 23 31 Mar 22
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 600
════		 600
════

10. Staff costs

The charity does not directly employ any staff (2022: Nil).

11. Trustee remuneration and expenses

No remuneration or reimbursed expenses were received by the trustees during the period.

12. Debtors

2023 2022
£ £
Prepayments and accrued income 20,000 12,017
════════ ═══════
13. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 5,800 5,650
Other creditors – 9,652
──────── ───────
5,800 15,302
════════ ═══════

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The International Roundtable for Sustainable Tea

Notes to the Financial Statements (continued)

Year ended 31 March 2023

14. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 April 2022 Income Expenditure
31		 March 2023
£ £ £ £
General funds 367 21,001 (10,029) 11,339
═══════ ════════
════════		 ════════
At At
1 April 2021 Income Expenditure
31		 March 2022
£ £ £ £
General funds (2,873) 39,476 (36,236) 367
═══════ ════════
════════		 ═════
Restricted funds
At At
1 April 2021 Income Expenditure
31		 March 2022
£ £ £ £
IDH – Sustainable Trade Initiative 2,565 56,084 (48,850) 9,799
═══════ ════════
════════		 ═══════
At At
1 April 2021 Income Expenditure
31		 March 2022
£ £ £ £
IDH – Sustainable Trade Initiative – 32,515 (29,950) 2,565
════ ════════
══════════		 ═══════
Analysis of net assets between funds
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Current assets 12,539 14,399 26,938
Creditors less than 1 year (1,200) (4,600) (5,800)
───────
───────		 ───────
Net assets 11,339 9,799 21,138
═══════
═══════		 ═══════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Current assets 7,619 10,615 18,234
Creditors less than 1 year (7,252) (8,050) (15,302)
───────
───────		 ───────
Net assets 367 2,565 2,565
═══════
═══════		 ═══════

15. Analysis of net assets between funds

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