Registered number: 13121923 Charity number: 1194447
The Movements Trust Limited (A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 8 |
| Independent Examiner's Report | 9 - 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 - 21 |
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | Tarek Hasan |
|---|---|
| Christopher Mills | |
| Ian Merrill (appointed 25/10/2022) | |
| Debra Hay (appointed 25/10/2022) | |
| Julie Keyes (resigned 25/10/2022) | |
| Company registered number 13121923 Charity registered number 1194447 Registered office C/O Climate 2025 Electric Works 3 Concourse Way Sheffield S1 2BJ Executive Director Anna Henry Accountants Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL |
Page 1
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the financial statements of the Company for the 1 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Objectives and activities
The Movements Trust (TMT) was registered as a charity in May 2021 with the purpose of supporting charitable movements focused on the intersection between society and climate change.
TMT’s Charitable Objects are specifically restricted to promoting sustainable development, primarily, but not exclusively in the UK, for the benefit of the public as follows:
a) the preservation, conservation and the protection of the environment and the prudent use of resources; b) the promotion of sustainable means of achieving economic growth and regeneration. c) advancing education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment.
Sustainable development means “development which meets the needs of the present without compromising the ability of future generations to meet their own needs.”
In the exercise of our activities, TMT therefore sponsors or regrants funding to movements engaged in activities in pursuit of our agreed vision and mission. We aim to empower movements to deliver their work as flexibly and as effectively as they can.
Trustees confirm they have referred to the Charity Commission’s guidance on public benefit when reviewing our objectives and aims, and our grantmaking policy.
Page 2
THE MOVEMENTS TRUST (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
b. Main achievements of the company
2022-23 has been the first year of operation for TMT, founded in 2021.
We aim to empower movements to deliver their work as flexibly and as effectively as they can, primarily by assisting an increased flow of funding to social movements who are working to support our charitable objects - promoting sustainable development.
We believe that there is not one single solution to the climate and economic emergencies, and multiple grassroots and people-powered efforts are required to respond to it. Social movements offer many strategies, whether to reduce extraction, exploitation and consumption, or to increase the protection of people and the planet.
In our first year we have developed two areas of support to enable social movements more easily access funding:
1 Regranting intermediary service
TMT has provided a movement-oriented regranting service to two foundations, Montpelier and Thirty Percy, as well as an individual donor. This has enabled us to make grants to the equivalent of £351,800 this year to the following movements:
Switch It
Switchit.green
Switch It is a not for profit organization that makes it easy for anyone to move their money out of institutions that fund fossil fuel companies. We dedicated all of our resources to exposing the banks, energy providers, and pension providers who use our money to fund climate and ecological breakdown, and to empowering individuals and businesses to switch to cleaner, greener providers. To date, we’ve helped individuals move over $180M and counting away from fossil fuels and into institutions that align with our vision for a clean energy future.
AimHi Earth
AimHi Earth | Effective Climate Leadership Training
Aim High aims to accelerate nature-centric decision-making by building a movement of people who understand the full picture of the climate and nature crisis and are motivated to be a part of the solution. Aim Hi provides accessible and engaging climate training and education, and has hosted workshops for policy makers, and has delivered training for businesses to equip and enable decision-makers to instigate systemic changes.
UBI Lab Network
UBI Lab Network
A worldwide decentralised network of citizens, researchers, campaigners and activists exploring the potential of Universal Basic Income. UBI is a regular and unconditional payment given to everyone regardless of their income, wealth or work. A UBI could provide financial security for all, building more resilient economies and giving everyone the resources they need to thrive. We believe the time has come to pilot this radical new idea.
Aurora
Vi är Aurora, vi ska stämma staten | Auroramålet (xn--auroramlet-75a.se)
A youth-led movement harnessing our passion for justice and belief in the full weight of the law to bring about sufficient climate action from the Swedish State. In suing the Swedish government for insufficient climate measures, we will compel the court to establish the full extent of the State’s climate responsibility. Channeling our experience as youth messengers and activist campaigners to deliver a powerful and credible campaign, we are rallying our fellow citizens to demand the climate measures necessary to mitigate the climate crisis.
Page 3
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
Autosafety Uganda
- Welcome To Autosafety Uganda Program
Providing a clear roadmap for bottom-up reform to reduce transport related environmental degradation and improve the health and well-being of communities across Uganda and beyond. Mobilising mechanics for free, community-based practical training workshops equipping them with knowledge and skills for sustainable vehicle maintenance. We are partnering with local institutions to conduct research to inform policy on transport emissions, focusing on the informal sector and exploring collaborative opportunities with related government agencies like the Ministry of Works and Transport.
Lokiaka Community Development Centre Lokiaka Centre | Facebook
Lokiaka Community Development Centre (Lokiaka Centre) is a grassroots gender and environmental rights advocacy nongovernmental organization that focuses on community development, indigenous peoples’ access to land and its resources (especially as it affects the livelihoods of women and girls), women’s access to justice, research and information. Over the years of her existence the Centre has been monitoring the Ogoni Ecosystem, including her cultural norms and practices, raised awareness on the impacts of climate change and gas flare including putting an end to fossil fuel extraction. The Centre has equally enhanced the capacities of women impacted by crude oil spills with environmental monitoring and reporting, raising fruit and forest tree nurseries skills and also supported them in the re-vegetation of mangroves in Ogoni Communities through technical skills and seed supports.
The Green Protector
The Green Protector – Friends of the Environment
Inspiring young generations across Rwanda to take climate action into their own hands and work together to build a fairer, more sustainable and just future. We’ve conducted community awareness projects around climate change and environmental protection by working with 15 schools in Kigali. Held ‘The Global Goal Jam’ where we gathered around 100 youth to have a hackathon on the SDGs by designing a short-term solution for a long-term impact, and running environmental clubs in three schools and the youth climate dialogue series, a series of webinars for youth to share and learn from each other on topics related to climate change.
Resilience Project
https://www.theresilienceproject.org.uk/who-we-are
We set up peer-support circles designed and facilitated by young people, for young people. Our mission is to build communities of support with mental health at heart, starting in the UK (our birth-place) then scaling globally. We are training young leaders to deliver our 8-Week RESILIENCE CIRCLES in their movement, location or around shared lived experience.Over 8 weeks, we bring together 10 young people aged 16-25. Drawing on the latest insights from depth psychology and sustainable activism, our Circles combine action, rest and learning, to upskill young people as campaigners. By building strong communities of shared learning, our Circles become self-sustaining vehicles of peer-support, built to last.
Sustain
https://www.sustainweb.org/
Sustain is a powerful alliance of organisations and communities working together for a better system of food, farming and fishing, and cultivating the movement for change. Together Sustain advocates for food and agriculture policies and practices that enhance the health and welfare of people and animals, improve the working and living environment, enright society and culture, and promote equality.
The Landworkers’ Alliance
https://landworkersalliance.org.uk/
LWA is a union of farmers, growers, foresters and land-based workers. Our mission is to improve the livelihoods of our members and create a better food and land-use system for everyone. We have a vision of a future where people can work with dignity to earn a decent living and everyone can access local, healthy and affordable food,
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THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
fuel and fibre – a food and land-use system based on agroecology, food sovereignty and sustainable forestry that furthers social and environmental justice.
UK Grain Lab
https://www.ukgrainlab.com/
UK Grain Lab is a gathering of farmers, millers, plant breeders, bakers, cooks, scientists and academics promoting the growing and eating of non-commodity grains in the UK. UK Grain Lab’s vision is for shorter, healthier, and more diverse supply chains, where the identity of people and place is celebrated and valued.
GM Freeze
https://www.gmfreeze.org/
GM Freeze is working to help create a world in which our food is produced responsibly, fairly and sustainably. We consider and raise the profile of concerns about the impact of genetic modification. We inform, inspire, represent and support those who share our concerns.
Me + Youth
https://meandyouth.org/
Me & Youth are working towards a global compassionate philanthropic community that facilitates justice, equity & independent climate resilience through reparative models of regeneration.Their initiative boldly advocates for reparation. The global north & most responsible peoples and areas (MRPA) must not only finance technical & nature-based solutions, but create and finance equitable frameworks for distributing reparative funds to those on the ground fighting for justice & change. The realities of hardship faced by youth citizens is most accelerated by the injustices of facing the climate crisis, therefore, their vision is to pinpoint the underlying factors of enabling the capacity of these community mobilisers through supporting their livelihood.
—--
Grant Making good practice TMT is also developing our granting policy and practice so that we can advocate for, and deliver, movement-aligned regranting that meets the unique needs of social organisers, and informs good practice in the philanthropic world. We are building on the concepts of trust based and relational grantmaking, and are working with movements to understand how funding can be accessed, monitored and reported on in a way that enhances movement capacity and agility and doesn’t hamper it.
2 Fiscal sponsorship service
As a registered charity, TMT acts as a charity intermediary, also known as fiscal sponsor, so that movements meet eligibility criteria for specific grants or donations. During the year we have acted as sponsor to the following movements to the equivalent of £84,504, in order to support their receipt of funding from individuals and foundations:
Mothers CAN
- https://www.mothers can.org/
Mothers CAN is a UK-based network of mothers from all walks of life, from all over the country, coming together in communities to build power, including making walking and biking safer, supporting renewable energy.
Patriotic Millionaires UK
https://patrioticmillionaires.uk/
Patriotic Millionaires UK is a nonpartisan network of British millionaires, from multiple industries and backgrounds from across the UK. It delivers a single mission - to leverage the voice of wealth to build a better Britain by changing the system to end extreme wealth and make those with it make their fair and proper contribution.
Page 5
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
Climate Council League
https://www.climateemergency.uk/
UK Councils are ideally placed to be leaders in responding to the climate emergency. The Climate Council League’s mission is to inspire and provide the tools needed for campaigners and councils to take action on the climate and ecological emergency at a local level in the UK.
Letters to the Earth
https://www.letterstotheearth.com/
Letters to the Earth are being written all over the world: Children as young as 3, parents, teachers, scientists, journalists, musicians, indigenous leaders, activists, nurses, business leaders, priests, politicians, TV presenters, artists such as Yoko Ono, authors such as Ben Okri, fashion designers such as Vivienne Westwood, and more. Letters to the Earth bring these messages to life and share them with people around the world, to make sure voices are heard and to inspire a deeper relationship with each other and the Earth.
Ocean Rebellion
https://oceanrebellion.earth/
Ocean Rebellion is a grassroots international art collective who tackle Ocean degradation and biodiversity loss by conceiving playful, emotive and spectacular art interventions.
WildCard
https://www.wildcard.land/
Wild Card wants the country’s largest landowners to urgently address the climate and nature crisis by beginning ambitious rewilding schemes now. Our long-term vision is to see 50% of the country fully rewilded.
—-
Other movement services – TMT’s charitable status allows us to refer movements for pro bono legal support from our partner, A4ID and in 2022-23 we referred one movement for advice on their work to provide divestment advice to the general public.
We additionally convene movements to meet each other and share learning, and to help us develop our services so that they meet their needs.
c. Grant-making policies
TMT’s policy on grant making sets out how we assure ourselves that we are funding, through our regranting and fiscal sponsorship activities, only movement activities that are exclusively charitable and fall within the objects of the charity.
This approach is kept under review, through our routine movement application screening, at our strategy away days, which give trustees the opportunity to refine our approach, and annually at our AGM.
d. Volunteers
During the course of 2022-23 TMT has benefitted from the input of two volunteers who have contributed to our evaluation of granted movements
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THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
TMT’s financial policy sets out our approach to maintaining reserves. We are currently building our reserves, as we develop our core income and aim to keep 3 months of core expenditure in reserves in order to maintain our services.
At the end of 2022-23 TMT held £57,629 in reserves which is above 3 months of core expenditure.
c. Financial review
During the year the Statement of Financial Activities shows income of £458,495
This year grants made by the Charity were £351,800.
Structure, governance and management
a. Governing document
The charity is governed by its Memorandum and Articles of Association and is constituted as a company limited by guarantee.
The company was first registered on 08 January 2021. It is registered as a charity.
b. Recruitment and appointment of new trustees
TMT’s trustees are recruited via open recruitment processes.
c. Organisational structure
The Trustees together with the Executive Director in charge of the day-to-day running of the charity are responsible for the general management of the charity. All decisions are made by the Trustees at meetings which take place at least four times per year. The Trustees regularly monitor the financial position of the charity.
Page 7
THE MOVEMENTS TRUST (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management (continued)
d. Risk management
Robust screening and monitoring process to govern the movements we work with, and to underpin our approach to work with movements that are not registered charities.
Our main risk is sustaining core funding in order to maintain a service to movements. We run TMT on a low overheads approach so that we can manage this risk and ensure that resources are available to movements.
e. Related party relationships
TMT is currently a member of the Environmental Funders Network which is a ‘UK-based network of foundations, family offices and individual donors supporting environmental causes. Our aim is to increase the amount of financial support for environmental causes and to improve its overall effectiveness.’
TMT was founded by climate movement support organisation, Climate 2025 which is a company limited by guarantee. Currently TMT delivers some services in partnership with Climate 2025 on the basis of a partnership agreement.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Tarek Hasan
Trustee Date: 21 June 2023
Christopher Mills Treasurer
Page 8
THE MOVEMENTS TRUST (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023
Independent Examiner's Report to the Trustees of The Movements Trust ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and Basis of Report
As the Trustees of the Company (and 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 the Company's accounts 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
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales (ICAEW), which is one of the listed bodies.
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:
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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.
Page 9
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed:
Dated: 26 June 2023
Giles Kerkham FCA DChA
Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL
Page 10
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 7 Total expenditure Net income/(expenditure) Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 101,000 5,902 93 106,995 55,536 55,536 51,459 (300) 51,159 2,520 51,159 53,679 |
Restricted funds 2023 £ 351,500 - - 351,500 351,800 351,800 (300) 300 - - - - |
Total funds 2023 £ 452,500 5,902 93 458,495 407,336 407,336 51,159 - 51,159 2,520 51,159 53,679 |
Total funds 2022 £ 6,025 - - 6,025 |
|---|---|---|---|---|
| 3,505 3,505 |
||||
| 2,520 - 2,520 |
||||
| - 2,520 2,520 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 21 form part of these financial statements.
Page 11
THE MOVEMENTS TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 13121923
BALANCE SHEET AS AT 31 MARCH 2023
| Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
74,733 74,733 (21,054) |
2023 £ 53,679 53,679 - 53,679 53,679 |
2,520 2,520 - |
2022 £ 2,520 |
|---|---|---|---|---|
| 2,520 | ||||
| - 2,520 |
||||
| 2,520 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ ................................................ Tarek Hasan Christopher Mills Chair Treasurer Date:
The notes on pages 13 to 21 form part of these financial statements.
Page 12
THE MOVEMENTS TRUST (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
The Movements Trust, registered charity number 13121923, is a public benefit entity established in the UK as a charitable incorporated organisation governed by its constitution dated 8 January 2021. The Movements Trust operates from its registered office, C/O Climate 2025, Electric Works, 3 Concourse Way, Sheffield S1 2BJ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Movements Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2.3 Going concern
The Charity has prepared detailed financial forecasts for the next twelve months that show that the charity has sufficient reserves and actual and forecast income for the period. Based on this information the Trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future, being not less than 12 months from the date of approval of these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
2.4 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Page 13
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 14
(A Company Limited by Guarantee)
THE MOVEMENTS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.9 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
3. Income from donations and legacies
| Unrestricted funds 2023 £ Grants 101,000 Donations Grants |
Restricted funds 2023 £ 351,500 Unrestricted funds 2022 £ 25 6,000 6,025 |
Total funds 2023 £ 452,500 |
|---|---|---|
| Total funds 2022 £ 25 6,000 6,025 |
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THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
4. Income from charitable activities
| Unrestricted funds 2023 £ Management fee income 5,902 5. Investment income Unrestricted funds 2023 £ Bank interest 93 6. Analysis of grants Grants to Institutions 2023 £ Grants 351,800 |
Total funds 2023 £ 5,902 Total funds 2023 £ 93 Total funds 2023 £ 351,800 |
Total funds 2022 £ - |
|---|---|---|
| Total funds 2022 £ - |
||
| Total funds 2022 £ - |
Page 16
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Analysis of grants (continued)
The Company has made the following grants to movements during the year:
| Name of movements AimHi Aurora GM Freeze Green Protector Land Workers Alliance Lokiaka Community Development Centre Sustain Alliance SwitchIt The Resilience Project UBI UK Grain Lab Wanyama Autosafety Initiatives Me and Youth |
2023 £ 25,000 5,000 13,000 5,000 52,000 5,000 90,000 75,000 5,000 25,000 45,000 5,000 1,800 351,800 |
2022 £ - - - - - - - - - - - - - |
|---|---|---|
| - |
See trustees' report for details on each of the above movements.
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2023 £ Grants - Core costs 55,536 55,536 |
Restricted funds 2023 £ 351,800 - 351,800 |
Total 2023 £ 351,800 55,536 407,336 |
|---|---|---|
Page 17
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| 2022 | 2022 | |
| £ | £ | |
| Core costs | 3,505 | 3,505 |
8. Analysis of core costs
| General Expenses Insurance IT Software & Consumab Travel Bank Charges Consulting Accountancy fees Advertising & Marketing Independent examiner's remuneration Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts |
2023 £ 763 67 458 382 107 49,761 3,950 48 55,536 2023 £ 3,950 |
2022 £ - - 5 - - 3,500 - - 3,505 |
|---|---|---|
| 2022 £ - |
9. Independent examiner's remuneration
10. Staff costs
There were no employees in the year (2022: no employees).
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THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
11. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 March 2023, expenses totalling £ 284 were reimbursed or paid directly to 1 Trustee (2022 - £NIL to Trustee) . The reimbursed expenses were for travel costs incurred.
There was no further transactions with trustees or other related parties.
12. Acting as agent
The Charity collected grants from donors totalling £84,504 (2022: £10,000) which, acting as their agent, the Charity paid to climate groups, with the exception of £17,104, which was included in Other creditors. This is not included within the Statement of Financial Activities.
The Charity received £451 (2022: £Nil) as management fees for undertaking this process.
13. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 17,104 3,950 21,054 |
2022 £ - - |
|---|---|---|
| - |
Page 19
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Statement of funds
Statement of funds - current year
| Balance at 1 April 2022 £ Unrestricted funds General Funds 2,520 Restricted funds Montpelier - Thirty Percy - Edward Hoare - - Total of funds 2,520 |
Income £ Expenditure £ Transfers in/out £ Balance at 31 March 2023 £ 106,995 (55,536) (300) 53,679 150,000 (150,000) - - 200,000 (200,000) - - 1,500 (1,800) 300 - 351,500 (351,800) 300 - 458,495 (407,336) - 53,679 |
Income £ Expenditure £ Transfers in/out £ Balance at 31 March 2023 £ 106,995 (55,536) (300) 53,679 150,000 (150,000) - - 200,000 (200,000) - - 1,500 (1,800) 300 - 351,500 (351,800) 300 - 458,495 (407,336) - 53,679 |
|---|---|---|
| - - - - |
||
| 53,679 |
Purpose of unrestricted funds
General fund - Funds available for the requirements of The Movements Trust to fund continuing operations.
Purpose of restricted funds
All restricted funds are sums received from a donor foundation or individual, for The Movements Trust to distribute in small grants to the movements that the Trust has identified and screened as contributing towards our charitable objects.
Statement of funds - prior year
| Balance at | |||
|---|---|---|---|
| 31 March | |||
| Income | Expenditure | 2022 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Funds | 6,000 | (3,480) | 2,520 |
Page 20
THE MOVEMENTS TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
15. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Current assets 74,733 Creditors due within one year (21,054) Total 53,679 Analysis of net assets between funds - prior year Unrestricted funds 2022 £ Current assets 2,520 Total 2,520 |
Total funds 2023 £ 74,733 (21,054) 53,679 Total funds 2022 £ 2,520 2,520 |
|---|---|
Page 21