Charity number.. 1191357 The Clarkson Foundation CIO Report of the Trustees and Unaudited Finanoial Statements For the year ended 31 December 2022
The Clarkson Foundation CIO Contents P8ge For the year ended 31 D&ember 2022 Rewrtof the Trustses 1104 Ind8Fendenl Examlnefs Report to the Trustee5 Statement olFinanclal ActIvil9 siatemeni of Financial Position Notes to the F[Trancl Slatsmen15 8t012
The Clarkson Foundation CIO Report of the Trustees For the year ended 31 De¢ember 2022 The Trustees of the Clark$Dn Foundation Ithe "Foundats"on" or the "diatity'l have pleasure in presenting their report and the financialslalÈments forthe charity fortheYèareted 31 December 2022 TheTtU51ee5 haveadoptad the proV10n3 ofAccounling and Reportlng by Charits"es'. S18temenl of Recommendad prartI appllcable lo ¢harili&s preparing their accounts In aceordan wlh the Financkl Reporting Standard applrabk In the UK anrl the Republic Df Ireland IFRS 1021 leffectwa 1 January 20191. OWECTIVES ANDACTIVlnES Oblectives and aims The Foundation's purpose is lo advance such charitable purp05es18ccording lo Ihe18w of England and Wales) as Tw5tee5 se? ril from lime to tine, by providing gTrnts to organi5alion5. tharilies and communities 8xclusfvaty for public banefil. Through its grant-gAiing, th8 FOndln.5 aim to makè a tsngiue drfforBllc8 and a lastlng impact. During the Ferd 25 grants were made. TheTru$lees' slrate9y 1$ to source langlble projects lo support. and dunng the rerbd thewel8 six main al8a50ffoc, which w8ra'. lal Relief of povety: Ibl Relief of siekness and pseat)n of health., IGI H¢mele5snes$", Id) Comrnunity ¢haiitie$", lel Maritimrelal&J char85., aTh lfj O¢saster rglk8f. The Trustee$ also ¢on$ider grants that fall outskle of Ihe8e fr&Js areas pravided they a satisfied it wlll further Ihe Foundabons purpose and is an appropriate u5v offuTKIs. The Twslees mostty source projects lo support by conducting their own research. Staff of the Clarkson PLC Group I'CL8rk$on8"1 are abo encourag8d to put fDrward charities for consideration. The Trustees beIve this en8bles the th8rity'8 limit8d resources to be used in Ihe most effecllve way. A $ummary oflh? FcundatlDn¥ 9rant4wing &tNity ¢an be found below under"A¢hkvemenl$ & PgrfomaKe'. The Truslpes have had due re9ard to the guidanc Dn public b8n8fi1, as published by Charity Commission, in exercising tsir wers orduties. All Twsleeswere provided 8n induction pack oudining their key responsibilrfie5, which inclL4ded the con51ilulion, th8 Charity CM*s1on'$ guldanee The Essents"al Trust88'. Wnat You Need to Know., 'Public Benefit.. Th8 Publc Bonefit Roquiremerf and'A Guide to Corporate Foundations.. Athiinistr8tb)n is caNied by the charity¥ Tnmlees and Se¢retsry. as well as volunteered ts.ma from Clarf¢s0 slaff. Th8 Trustees hav6 considered thg Chority commlsslon's guldance On wblic benefit, nduding the gUance.pUb1lC benefft.. running a chariiy IPB21'. ACHievEMENTS AND PERFORMANCE The Foundafjon'$ maSn styJrc8 of incem?during the PEri¢KI under review was donations from Clarkson PLC, lotalling £127.97T12021.. £3(M).(XIOI. Afurther£1,950 was receive(I Ihrou9h Ihe GiveA$ You Eam 8chemel2021.. £52,641), and Clarkson PLC Group employe8 fundraising and donatlons mised £76.25412021.. £8,939). 1 income rece in the period was donated without re$irlcbons. A total of £309.031 was 9ianted tp 2S (2021.. 161 Charitab causes. as dlsckised the Notes 10 Ihe Financ4al Slal8rn8nts, note 3. The causes supported during the p8riod lack is5uEs including physlral and m181 h8aElh. povety aTrJ homelessne55 and disaster r81r. Grants made in the period InclLkle.' 1 of12
The Clarkson Foundation CIO Report of the Trusls Continued For the year ended 31 December 2022 DVJ Deep Dlg Deep w8s wovided a giant lo fund the bu119 of safe toilet5, clean waler faolilies and hygne edu¢allon In schooEs in Bcynel, Kenya. Tre prolectwasso 5ucces5ful that a furlhergranlwa$ provwJed lo fund nine community Spring pr¢tection projec15 in 2023, which wll have an e51imaled 9,000 di¢1 b&nefioarie$ overlhe nextfiveyears, improviru hèatth, Iwelihoods and fem8le ernpMftnent. Fronulne 19 A grant was piovKled to Fronllne 19 10 5UPPOrt ils free, Gofifidenlial therapy s&rvice lo th8 UKS NaliDnal Health Servi( and fronllinewortérs to ensuie Ihose who Deed help acr9$5 SYPPOrt quitkty 2nd e88ily. The Tru85el Trust A grdnl made lo support the work of the The Tru55el Tw5t. which $w)wJrts a natnwIde neiwork of fo)d banks In the UK and prowdes emergenry foryj and support lo people l(Kk&l in poverty. D15ast•r Emgrgency Commlttee I'DEC? A grant was made to suppom the DECS appeal for Ukraine, 10 help DEC ch8111188 delwerfood. warmth. cn water and medirnl tare lo people in Ukraine and vital support to refugees ifi neighbouring counlnes. The Wave PTOjS¢t The Wawe Project delwers ¥urf therapy. in the UK lo young peop at risk of mental Ilkheallh to improve their emoth)nal and phy¢alwell-b*ng. In 2021, a granlwas awarthd lofund a new minibu5 for Th&WavÈ Project's Northem Ireland location on the Causeway Coa51. In 2022, a furfher goni was pwded to fund 8 minibus forthe IS ofwghl whKh helps thIk1n each year. Renalssance Foundaiion A giantwa5 provided to the Renaissance Foundath)n lo fund equipment for its new Hub in Aldgaie. London. The hub Nll be the Renaissante Foundation's pemianenl hom&- provkling a safe. wekoming and con515tenl $p•¢e for Yn9 patients and young ar5 to Ihrwe. Global Glrl Prol9¢t A donation was made lo Ihe Global Girl Project to help with delivery of its leadership piogiamrne for gitls. Global Glrf Projed mobilises women arou the global for Social change through community d&velopment and sodal action. The Whltechap81 Mlsslon The VVhitechapBI Missk)n in London was prow(Jed a grant foi Ihg provi$lgn of hol meals during th8 2022 Christmas period for Ihose experiencing homelessness. In addilion, a donatk)n was maje lo suwort Ihe'choc & Sod(s' scheme. lo provvje a small gift and hygiene kit lo people using the ¢entre. FINANCIAL REVIEW ring the period tsnder revi. tha Foundation recewed £206.244 in monetary donation5. The Foundation In¢ufred expendiiure of £309,031 on grant expeMlitU and £1.322 on adrniDi51ialive eXpee9. Administration 1$ cOMet by volwleered timefrom Clarkson PLC Group staff. the cost ofwhiGh is negligible. Thi5 ensures that the Found8tSon maintains low runniry costs. The onty asset held by the Foundation G35h: and no invE5ttnents are held. Al the end of the perN)d the Foundatlon ld unrestricted funds of £190,540. Th charity does nol have a reserves poll¢y. The Foundation makes gr8nts fiom availabl& funds. Confirmed grants ar8 only made from sutplus funds. thus ensuring there will nol be a shortfall. The Tru$iees regvbity the ¢a$h KX)Sition to ensure they miligale any rk a850ciated wilh Trot having a reseNes policy ID place. 2¢f 12
The Clarkson Foundation CEO Report of the Trustees Continued For the year ended 31 December 2022 STRUCTURE. GOVERNANCEAND mAAGEMENT GoveTThing document STRucnJRE, GOVERNANCE & MAtQ4GEMENT The Ckqrkson Foundalon 1$ Tegi8ter&1 with the Charity Commission in England and Waks Inumber 11913571.Th8 FourK1atK)n b a Charilable Incorporated Organisation ICIOI govemed by its conslilulion. dated 18 Septembw2020. Other information relaling to the Foundation has been Set ovt on page 1 ollhis report and forn part of thi% report. The constitution sets out Ihatthere must ts a minimum of threo Tru8tees. Shouhj th8 numb8rfall below Ihl$ mlnlmum. the remalnlrhg Trusleelsl may a¢tonty lo appoint a n8w Charty Trustee. The maximum numberofTru8tee8 is twelv8. The Trustees may * anytime decide to appolnl a newTw8tee, provided that the limit of 12 is not exce8ded. Every charity Trust88 must b& a Clarkson PLC G¥oup Mtrmr of Staff for the duration of their apwnlment. A charity TNstee will cease lo hotd office if he or she ctsases lo be a staff member of Clarksons, Al Trustees named on page 1 have served since registration of Ihe tharly and conllnue lo do so at the dale of this report. Ary new Tru3leol$l will be assessed to ensure that an appropriate balanca of skills and experience is mainlain8d on Ihg Board. The Tru51ee5 have adopted a ¢onfll¢ts of Interest poliw to manage tha relatienship with Clarkson PLC, whlch provldes the Foundation's main $our offunding. The Truslees act independently of clart¢S PLC and make decisions Sole in the inleFests of th& charity and thOut any undu8 influence. The Foundation h&5 also adopied a grani-making poliy. whh gLrid•s th8 Tw5t84S' de¢Ssion making wllh res to grants, due dllbJ8nc8 8nd ongoing Tnoniloring of grantees. The Trustees rnetrt regujarty to dl$tharge their dut9 and during the period four meetings wer8 held lo reaW grants, op8r8tiona( matters, g0Veml% arrangements and other matters of concem. STATEMENT OF TRiJSTEES' RESPONSI8IUTIES The Trust8Ès are responsible for preparing the Tru$tees' Report and tha financial stat8men15 in accordance with apPEalle law and United King(kJm Ac¢ounting Slan¢ards (United Kingdom Generally ALtspled Accountin9 Pra¢t¢o1. in¢luding FRS102'Tre Rnan¢lal Reporting Standard applicabla in the UK and Republk of lrtL4nd" The applisabk to Charit in England and Wale5 require$ the Truslees lo prepare finan¢K91 Statements for each financial year which give a true and lair viewof the state gf affalrs of tha charity aThY of the incorning resou5 and app5K31ion of resour$ oflhe charity forthal period. In preparing these financial stalernenls. Ihe Tru5tee5 are required to: $e18d suitabk accountinu polbRs and then appty them con%stenlty,' ob5eNe the methods prmcipks in the Charitie5 SORP., makeludgements and e5timate5 that are w$onabk and prudent., Slate whether appliGabl& accountlng $tsndard8 have been followed., and prepartlhoflnanclal stalernents on the goin9 rK)n¢em ba$w unle11 B inapproprialeto presumethatthechar1ty5ll in bu$ine$s. The Tru$leEs are responsible for keeping propera¢wunting recordsthal disdcsewrth reasonable aowracy at any tlrn&the financial position of Ihe charity and enable Ihetn lo ensure that th& financial 51alernent5 Ctxnpty 1 the Chanties Act 2011 8nd the Char5ty IAGGounts and Report31 Regulations 2008 w)d th& provisions cf the con51ilulion. They are also re5ponsibl6 for safeguarding the assets ofthe chahty and hence for takiry pOnsIble 5tspsforth8 prev?ntion and deiedon of fvaud and other irieguLgritBs. REFERENCE AND ADMINISTIIATIVE INFORMATION Namè ol Charlty Charity registr8tlon number Prlftclpal addres5 The Clarkson FoundatiDn CIO 1191357 Commodity Quay st Kalhaiine Dod¢s London E1W1BF 3of12
The Clarkson Foundation CIO Report of the Trustees Continued For the year ended 31 December 2022 Trustees The Irust8es and officeTr 5erviro during the Yaara since the yearend We as foMrAvs'. Jeffrey Woytla Richard Haine5 Dharani Sridharan Alexander Gray {Regned.. 23 May 20231 Lily44ose Bagshaw Robert Knight Leo Askaroff Kathadn8 Thompson Independent examlnors TLW w0K Unil 115 Duae Hou Outye street Mancheste¥ M12JW Bank• Bank of S¢ollarKI Unit 718. 167 Moorgate London EC2M 6XQ AFproved by the Board ofTrusw and svJned on its behalfby JeftY Vvoyda rrus18e Oale.. 18 September 2023 4of12
The Clarkson Foundion CIO Independent Examiners Report lo the Trustees For the year ended 31 December 2022 I rèport10 th& Tru8t888 on my examination ofthe accounts of Ihg chanty lorthe yearetx1ed 31 Dember2O22. Responsibili$ and basis of report As the charity trustees. you are respsIble foithe preparauon of the accounts in accordan wlh the requirements ofthe Charities Act 2013 cthe 2011 Act'i. I report in respect of my examination of the charty5 accounts carried out under Sect 145 of the 2011 Act a1 in ¢arrying out my examinalbn I have followed all the applicable Directions gNen by th8 Charty Commission undorSectn 14515llbl ofthe Aca. IndependentexamineFS Statement I have ¢ompleled my examinalion. l o)nfimi that no mal(ers have ceme to my attenbon in Gonnection vrith the examination gLving mè cause lo bèlAt¥é that in any matarigl respect.. 1. accountin9 records We not kept in resp8¢10l the Charty as required by section 130 of tt)e 2011 Act.. or 2. the accounts do not aerJ)rd with those recwd8', or 3. the accoun do not comptywith the applKabl8 requirem8nt5 concerning th8 form and content of a¢¢Dunts sel out in the Charities IA¢¢ounts and Reports) RegulaUon$ 2008 9lh¢r than any requirgm?nl Ihal the a¢¢ounts gwe a'lrue and fair view. which 15 not a matter COnser8d as part ef an ir¥Jependent examination. I have no concerns and have come across nc Olher matte[5 in connection with ItE examinafron toWhti attention should be drawn in this report in orderto enable a prop?r understanding of the accounts lo be reached. Tom Wkox Unit 115 Duc48 House Du¢1¢ Slwt Manchesr M12JVV 18 SÈptÈmber 2023 5of12
The Clarkson Foundation CIO Statement of Financial Activities For the year ended 31 December 2022 Period from 18 Sept 2020 to 31 Dec 2021 UnrestrlGt¢d fund6 Notes 2022 Unrestricted tltnds Incom8 and endowmonts from: DDnallon$ and kgaaes Total 206.244 381,822 3&1,822 Expendliuye on.. charitae ac1m18 Total 1310,3531 (310,3531 187.1731 187.1731 Net InGom¢lexpendlture Reconclllation of funds Total funds brou9ht foThward Total fijnds carried totward 1104,1091 294.649 294,649 6of12
The Clarkson Foundation CIO Statement of Financial PosilK)n As at 31 December 2022 Notes 2022 2021 Current a8s8ts Cash at bank ond in hand 247,382 247,382 156.8421 296,369 296,369 11.7201 Cr8ditOf5- amounts falling due hithln one year Net eurrent assets f90,$40 190,540 294,649 294,649 Total assets less current liabilÈties Netassets 190,840 294,fj49 The funts ofthe charity UnTe$lri¢ted inc(me funds 190,540 190.540 294,649 294,649 Tolal furlds The financSal stsl W8r8 approved authorised forissue by Ihe Beard and slgned ¢n its beha ty.. Trus 18 September 2023 70112
The Clarkson Foundation CIO Notes to the Financial Statements For the year ended 31 Dember 2022 1. A¢¢ousrtlng Pollc188 Bas15 of accouThtino The financhql statements have bBen prepared under th& hislorical cost conv8ntim. e¥Trpl for inveslmÈnls which are included al martel value the re¥8lualion of rtaIn frAed a$sets and in accordance wlh the CharilÈ$ SORP IFRS 1021'Accounling and Reportlng by Charities.. Statement of Recommended Pra¢ti¢& appll¢abk to charlties preparing their aGwunts in atsrx)rdance wfth the Finantyal Reporting Standard apICable in the UK and Republic of Ireland IFRS 1021 leffectiVB 1 January 20191,, Financi Reporiing stalard 102 the Flnancial Repoibng Standard applicable in the UK and R8publ¢ of Ireland IFRS 1021. and the Chariiies Ac12011. The CladLson Foundation CIO meets the definiliort of a public benefftentKy und8r FRS 102. Assets and liabilities ore in"allY recOgned at hlstorLal cost orlransacllon vglue unlEss Ott¢ESe std In the f&tevant accounting policy nolel51. Goln9 ¢on¢om The finanti81 $iaiements are pwared, on a g)ing conrn basi8. undwthe historical cost ¢onvenllon. Statement of wh ftows The Tiustees have taken advantsge ofthe exemption in SORP FRS 102 fr(m Includlng a Gqsh llow statement in the financial $talents on the grounds th81 Ihe charity is small. Funds The chanty maintains a general unrestricted fund which represents funds which are experfable al the di8cretion of the TTu51ee$ in furtheranc8 ofthe objeG15 ofthe tharity. Sush funds may held In orfer lo finance both working capital and capital investrnent. Deslgnated fL4)d5 ¢omprtseof unreslri¢te¢ fun¢Js that have been sel ashts by th8 Twslee5 for partKukr purposes. Restricted funds have been provid8d to the tharty for parbcular puose5, il the policy of the BoaKI of Twst8e$ lo Carefully monitor the 8ppI10n of Ihose ftsnds in aCcoanCe with Ihe re51rition5 placed upon them. There is no fomal poiicy of Iran5fErbetweEn funds or on the allocatson ol funds to deS2n8ted funds, other than thatde5cribed above. InGomlng resources All incoming resour are induded in the stslement of finan¢lal a¢l¢wI9 when the charity is enliUed to Ihe income and the amount can te quantifBd wkh roasonablfr accurao. Resources expended Liabllities recognised as resour5 expended when there 15 a legal or (tnstNdive obllgalion commKling the charity to the expenditure. Expendrture compri5e5 yranLs payable a5 part of the Foundation'$ ¢harilabl& activales. as well as adrninislralive costs pertaining 10 Ihe charily and its granimaking. Granls payable are inGluded In IhÈ statement of financial actwilies when approved and whenthe intended reupient ha$ wlher received the funds or been informed of Ihe thasion lo make the donalion and h85 satisfied all related Conditions. Gr2nls approved bul not paid al the end of the finanGial peiio¢J a a¢Grued for. VW)&rÈthe benefidary h8s not been infomed or has to meet certain conditnS before the granl 15 reaSed are not acctued for are noted as finanual commitrrents in the note5 to the financial skatements. Governan w$¢$ ilUde the cost ofthe Ind8P8nd8nt examination of this r8PDrt. Taxation As a wi4ier¥J chaFty, Ihe company i8 exempl from incoTh and wrporalion lax lo the exlenl that ils inu)me a1 gains are appli¢abl& to charrtabla purpos85 only. Value AdLI& Tax nol recoverable by Ihe MpanY, and Is therefore Included In the levant costs In the Staternent of Fnancial Activitie5. 8of12
The Clarkson Foundation CIO Notes to the Fin2n¢ial Statements Continued For the year ended 31 December 2022 I Incomefrom donations Ènd legacres Pedod from 18 Sgpt 2020 to 31 Dec 2021 2022 Unre8trlct8d funds Don8tiOn5 reIVed 2(,244 381.822 206.244 381,822 All Jonallons recewed were unrestficled general funds, ava118ble forth8Trustges lo appty as they see fil to fvrther the Foundation's purpw. Donations rerwed fwm Clarks(x) PLC in the yeaiwas £127.977 (Extended period, 2021.. £300,000). Donal&Y serv85 rafiect th& cost of unpaid g8ner81 volunle8red twne from staff of Clathson PLC Group. Thi8 is on an ad-hoc basis and cannot be reliabty rneasured. Furthemc(e. should thi8 volunte8d time not be reeeNed. Ihe Feundalion would not have employed •ddilional 51aff tc un(krtake those seNice5. but ralher be p&rformed by the Trustees. Thu5 the contribution of g8n8 volunleafs is incbjded as income Inor 8XFeThlilure in note 31 In the finan¢ial $lalemenl$. 3. Costs of chsrtlabla aCtltIe¥ Pedod from 18 Sept 2020 to 31 DFC 2021 2022 Unmstrlcted funds Grant exp8ndilure Governanc4 Gosts 309,031 1,322 86.453 720 87,173 Governance costs IndJe th8 indend•n1 examination f8èof£1,2221oxièndaJ period.. 2021.. £7201. 9of12
The ClarksoA Foundation CIO Notes lo the Financial Statements Continued For the year ended 31 December 2022 4. Analy81$ of gronts Grants to Institutions "g Deep (Afiical 82,606 Di$88tèr Emergenty Gwmrttee 25.(M)O Front15 57.(X)O Gbbal Girf Piriect 10,000 other charilabk argan3t1s. 23,905 Sydney In$lilule of Marine Fwndalion. 10,520 The Big GThfe- The Wave Prolecl 15.000 The Childhood Tru$i- Renalssan¢e FouThJalion 10,ODO The Lotus Flower- 45,OLK) ThÈTrus8el Tru51 30,0(PJ ' These in¢lude all donation5 granted wth a ¥ale under £10.000. These two gr8n15 We commrtled to al the end of 2022 but not paid. All grants made in Ihe peno) under revwWere for ehariiable purposes. Staff ¢osts and emoluments Th8 Foundation does not have any employEe5. Key management personnel of the Gharity, who are in charge ofdirecting conlrollirtg. running and Dperatsng the ¢harity are named on page 4 of Ihls pOrt. aThJ comprise the TtU5teÈs and Secretary. In addlon lo key management personr£l, all voltsnteets throughout the peiiod untler ffjview wer8 employed by Clarkson PL¢ Group, whcse 58Nice5 were provided free ofchprge. No omunerab"on, olher bonefits orexpenses ware pahj lo any key managernent during the perfv. IOof12
The Clarkson Foundation CIO Notes lo the Financial Statements Continued For trbe year ended 31 December 2022 S. Trustee remuneration and related party transaetions None ofthe Twstees lor any PBf8on cenn8Ct&d th tmI have been P8b4 rwnuneralion or reced any other b8n8frt frTrm the Foundation during the period. All Trustees were Munerated and received other bpnefi15 through Ihelremploymenl L4ilh the Clarkson PLC Group, a rtrLated paty lo the charity. txjring the ptiriod, mon8tsry donatton$ totalllng £727,97718xtended pertod. 2021.. £300,000) were eved from clarks PLC, th? sole member of the Foundation. OrÉ Tru8t88 a paid directorof Clarkson PLC. whh does not in¢lude rOMuration for Ihair role a8 a Tmsle& the year ended 31 December 2022 a grantol £500 a$ awarded lo Art For Cuie. 8 UK reglstered Charity. Alexander Gray and his spouse Senff as truste8$ ofArt Forcuie atthe time of the gr8nt. AtexanderGraywa8 not invofved in the daclsion-rnaking process related to the appr of IhB grant in accorfants wrth the Foundalron'5 Cfi1cl of Inlerest polKy. 7. Comparatyve for the Statement of Financial ActlvMle8 The compa(aiive year values th8 Stslement of Financial ActrtIeS and a880(a8ted notes ore for unreslricted lunds OVErthe axtended reporting pellod covering 18 Septamb8r2020 to 31 Lleeember2021. . Creditors: amounts falllng due within oneyear 31 Dec 2022 31 De¢ 2021 Othercradilors 55,520 1,322 1,IMO 720 Accruals and dèferred incomè 56,842 1,720 As al the end of the period. IrtWere iwo cutstanding funding commthent for £55.520. The58w8re both p2ld to the beneflary ¢harthe5 in quarter 12023. 9. Movement In fund8 Unre$tsl¢ted Funds 8alance at 0110112022 Incoming resources Outgolng r8sourc88 Balan¢¢ al 3111212022 GeTrerAI 294.649 206.244 1310,3531 190.540 294,649 206,244 1310.3531 f90,540 11 of12
The Ciarkson Foundation CIO Notes to the Financial Statements Continued For the year ended 31 Dember 2022 Unrestslcted Funds- Prevlous yèar Balanc8 at 181D512O20 Incomlng $ourc85 Outgolng resources Balance at 3111212021 Gengral Gelleral 381.822 187.1731 294.fj49 381.822 187.1731 10. Anatysis of net a550ts betsveen fvjnds WgtGUTreiit N2lA88ets asStts I IllabllttlEsI Unrestricted funds General General 190.540 190,540 Prevlou5 yèar Net current NetA880ts assets1 Il&bIleI Unreslri¢ted funds Gengral Gen8ral 294,649 294,649 12of12