Reglst•r•d Charlty No:277805 THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Operating as the Marketing Trust REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 The Trustees of the Chartered Institute of Marketing Charitable Trust I'the Trust") pr8s8nl their reprxt and financial slalements for Ihe ygar ended 30 June 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply wlh the Charity's trust degd, applicable law and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Charitres preparing their accounts In a¢cordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 102)}. the Financial Reporting Standard applicabl8 in the UK and Republ ol Ireland (FRS 102). Tho Charitable Tnjst is registeréd as a chafily in England and Wales. Obl¢¢ts of charlly Th8 objgcls of the Trust ar& the advan¢8ment for the b¢nefil of the public, of education. practical training and ras•ar¢h into the art and scionce of mart(eting. The Trustees meet regularfy lo receive and consid•r proposals for the achievement of Ihe obje¢ls of the Trust. The Trustees confimi that they have referred lo tho guidance Contained in the Charity Commission's general guidance on public benefil when reviewing the Trust's aims and objectives and in planning. Revlew of activities for the year and futur• d•v•lopmonts During th8 yèar the Trustees received and Considered fourteen applications for financi81 support for markèung projects and awarded seven grants lotalling £128.88612023 - £113,549) as listed in Note 3 lo the financial slalemenls. In addlbon. the Trust is supporting ongoing approved applications. A few applications have been given eXtensicS for complelN)n due lo the impact of the COVID-19 pandèm. Some examples of completed funded projects this year includes.. - Media Trust Effective Marketlng Strat9gigs for Ch8rrfios Pmgr8mme Between January and March 2024, Media Trust supportgd 155 charities across the UK to str&ngthen iheir digital marketing capabilities through our Digital Markating Strategy programme. This achievement was made possible through the grant of £33,693 and ongoing support from the Markgllng Trust. This year the fijnding enabled expand8d face-l(Fface training, delivering in person sossions in Aberdeen. Bristol, New¢aslle and Norwich. They ran four online training sessions in Digital Mark8ting Strategy, and four onlinè Sessions on Marketing Essentials. Thgy a150 delivered specialised webinars and digital drop-in s8ssions. The four specialised webinars focused on topics including SEO, Analytics, Free TLX)Is. and Paid Social The drop-in clinics enabled charitiès lo seek guidance from industry profe55iona15 on social media. digital tools and SEO. This provided an extra OPPDrtunily to bad thèloarning and apply il lo their own organisalion. whilst creating opporttjnilles for peer networking across ¢harily comms professK)nals sharing similar challenges 3rid solulicms. 51 charities att6nded face to fa Iralning. 272 charities attended the online training sessic5 and webinars. The ovarall programme was a huge success with excellent impact feedback from Ihe charities. A¢adem of Marketin The Academy of Marketing received some £30.000 for funded for fNe projects delivering impa through research d6tailed in the Trustees Report for last year.
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for th8 year ended 30 June 2024 The Trust wnlinued to supp1 Academy ofMark&bry DtOral Colloquium (DCJ and Conf8renc& 2023 at the Urrivorsity of 8irmingham and provided awards for the best papers at the DC and the 'Mosl Innovative P8perf at the main Conference. Youn Ent8 rise- Slart-u PTO ramm The Marketing Trust awarded a £20,000 grant lo Young Enterprise IYEI towards their Stsrt-up Programm8 in the 2023124 academic year and a159 sponsored three impactful marketing awards for students taking part in th8 programme. Two 'Markoting Excellence Awards,. at th8 gIOnal and national finals, recognisèd teams who had excelled across all areas of marketing thToughoLrt their tirne on the programme and the 'Soal Media Excellence Award, focused on a 18am that had excelled in promotin9 their business across social media platfomis. The Programme enabled young people lo engage in a unique opportunity to devise and run their own business, developing and applying skills nè8d8d for work and future success. The Programmg rea¢hes young people across thè country who are on the cusp of siarting their ¢areers. enriching their understanding of marketing and communication. The TnJslees' involvement is greatly valued, lor example the marketing resources I guidat)ce {produced by the Trusleesl for young people participating in Start-up. 76Qh171% in 221231 of survey respondents agreed that the 'lniroduction to Markèting, guide is a very useful tod. This year saw 182 Start-up Programmes, involving 1.079 young people118+) lo lake part in Start-up programme I undertaking Iheir own ent8rprisè journey from 15 Higher and Furth81 Instiltjlions. Additionally, some of the Trust8e$ dedicated their timè to YE. judging the Regional Finals and Ihe National Finals. Students made the followin9 developments: 85% found the programme useful for leaming how lo manage monèy 91. were able to reflect on what skills they need lo develop for their future 94Qkn were helped to idenb'fy their slrenglhs and weaknesses 100% of students 9ained ¢¢)nfidence in themselve5 98% agree the experience has developed skills Ihat could help them run their business in lh8 fLrture 96% agree that as a Tesult of the programrne there are more likaly to consi¢Jer running thr own business in the futurè R al Soae ofArts Man d Commerce RSA The Marketing Trusl supported the RSA Sludenl Design Awards 2024. This generated 375 design Pfoiecls frgm 81 diffeienl Universitieslcollègès includlng Indonesia, Afghanistan, Finland, the US and Australia involving different typas of 8¢ademiG crSeS ranging from 9raphic design lo computèr scientists in the world's longest running competition using design lo solve the most pressing social problems of today's society. This year the Trust was headline sponsors ol thè Moving Picture Category which had 16 submissions. A Trustee was involved in developing the brief and participated in the 0-Stsge judging pre$S where every entry is examined by all th8 judges. The Marketing Trust Award was awarded to T80 H8nn8sy, BA Graphic Design studying at Limerick School of Art and Design. Ireland. His winning entry, tilled ' SDA Through the Centuries,, is a bold animation that c&lebol8s the rich narrative of 100 years of RSA Sludenl Dèsign Awards. Visual shapes build over time lo reveal successfijl awar(1 ease studies and create a sense of excitem&nt for what could be achieved k)oking ahead to thè next 100 years.
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Finala1 Statemenl for the year ended 30 June 2024 Review of transactlons and financial position The Trust's total income for the year was £115.96712023 - £116,999). The Trust made grants of £128.886 {2023- £113,549) which, together wth other expenditure amounting to £15.61712023- £12,825) resuh6d in nat ¢tgOing rèsources of £28.536 {2023 - £9.3751. Gain on investmonls of £293,28312023 - £67,625} resulted in a net increase in r8sourees in th8 y8ar of £264.74712023 - £58.250}. The Trusl's rnain investments are in listed securities which have bgon made in acwrdance wtth the power5 contained in the Trust Deed. Govornan¢e The Trust is govemed by a Deed ol Trust dated 31 December 1978. as am8nd8d by a Supplèmental Deed dated 4 April 2011. The Trusta8s arè rèsponsible for the overall management and control of Ihe charity. The Board of Trustees operates within the framework of the Charrty Governance Code and applies its principles throughout ils work and decision-makin9. Investment powers. poll¢y and performan¢e The Trustees, investment powers are governed by the Supplemental Dee(I whirh permits the Trustees to invesl Trust monies in such stocks, shares, funds other a5 the Trustees shall from time to lime determin8. During the year under review the Trust was invested in 2 lunds mana by CCLA Irbvèslmènt Management Ltd (COIF Charihès Investment Fund and COIF Charities Property Fund). CCLA report to the Trustees on a rggular basis. Due lo the realised and unrealised gains of £293,283 th8r8 was a net gain 017.5% on lotsl inveslm8nls {2023- 1.8%). R•s•r¥•$ policy In line wlh Charity Commission guidance, the Trustèes review 8nnually the Trust's needs for'free reserves, which are thos8 unr8stri¢led funds not invested in fixed assets. designated for specific purposes or othemisé Committed. The Trust relS on inv8Stment income and capital appreciation to fund day-to-day expenditure in support of its Pfimary charitable objects. The Trust could not deliver its charitable activities without thls Inve51rri8nt income. The Trust's investments will remain an essential source of income, at least in the foreseeable future. 11 therefore remains the case that thè Trusl do&s not h8vg'free' re5erv8s lo dispose as defined in either SORP or Charily Commission guidance ¢Jocumenls. The Trust retains cash in ils currenl bank account to provide for the administration of the charity. The reseNes policy 15 reviewed annually by the Trustees to ensure that it meets the Trust's changing needs and circumstancos. Ri$k managernent The Trust¢os activety revlew the major risks which the charity faces on a regular basis. The Trustees believe that mainl&ining free reserves at the levels stated above, combined with the annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse nditions. The Trustees have also examined other operational and business risks, which ihe Trust faces and confirm Ihat they have established systems lo manage tho significant risks.
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for Ihe year ended 30 June 2024 Independ9nt Examlner As thg gross income of the Trust is less than £1 million, th• Trustees have opt8d. under The Charities Act 2011 (Accounts and Audit) Order 2015 ISI 2015 No.3211, to have an independgnl examination of Trust accounts in place of an audit. Accordingly. on 19 October 2020, Read. Milburn & Co were appointed as Independonl Examlner. Appointment of Trustees The Trusl is adminlslered by the Board of Trustees. New Trustees must be appointed by a resolution of the Trustees. The Trustees may èstablish. 8nd from timé-Io-tim8 r8vièw, regulations to CtMsidèr and determine th8 number and tefms of appointment of Trustees. The Trustees are unpaid volunteers and may claim reasonable out of pocket expensès. All Trustees are rèquirèd to declare relevant interests and may be required lo withdraw from Irusl8e meglings. All Trustees are encouraged lo develop Iheir trusteeship skills and to attend extemal conferences and events relevant lo the Trust and charity governance. New Trustaas are provided with an induction lo The Trust. Al the end of the financial year there wèr8 f(KJr Trusteès in plac8 and Dna vacancy. Stat•m•nt of Trustees. responsibilities Law applicable to charities in England and Wales requlres the Twslees to prepare finan¢lal statements for oach financial year which give a true and fair view of the slate of affairs of the charity and of the surplus or deficit of the charity for that year. In preparing those financial stalgments. the Tru51ees are required to.. select suilabl8 accounting policies and then apply them consislenlly- observo the methods and principles in the Charities SORP,. make judgements and esb'mates that are reasonable and prudent., state whèth8r 8ppli¢able UK Accounting Standards have been followed, subject to - any material departures disclosed and explained In the financlal slalemenls; propare the financlal slalements on a wing concem ba&s unless il is inappropriate to presume that the charity wll continue. The Trustees are responslble for keeping sufficient accounting records which disclose with reasonablè accuracy at any time the financial position of th8 charity and to enablè them to ènsure that Ihe financial statements comply with the Ch8rilies Act 3011. They a also responsible for safeguarding thè assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Twstegs Current iruslees ara list8d on the ¢harity informal¥)n page of this report.
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Rewrt and Financial Statement for the year ended 30 June 2024 Approvgd by the Board of Trustees of The Mar*etlng Trust on 6 November 2024 and signed its behalf by: N F Coate5 Chair
THE CHARTERED INsTUTE OF MARKETING CHARITABLE TRUST Annual Report Financial Statement forlhe year ended 30 Jun8 2024 THE MARKETING TRUST Charity Information For the Year Ended 30 June 2024 Tru8te•s: N F Coates T Mason T Groom FCIM- Chair FCIM Prlnclpal Office: Moor Hall Cookham Maidenhgad Berkshire SL6 9QH Ind¢pond•nt Examingr: Read. Mllbum & Co 71 Howard Street North Shields Tyne & W8or NE30 1AF Bankers: S8ntander UK plo 2 Triton Square Regents Pl8¢e London NW13AN R•gistered Charity No.. 277805
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Independent •xamin•rfs report to the tru$lo0s of The Chartored Instituto of Markallng Ch•ritsble Trust I reportto the charity trustees on my examination ol the accounts of The Chartered Institut8 of Mark8ling Charitsble Trust Ilhe Trust) for the year ended 30 June 2024. Re$ponsibiliti•s and basis of report As the charity trustees of the Trust you are responsible forthe preparation of tha accounls in accordance with the requirements of the Charities Act 2011 1.the Acl'l. I report in respect of my eyaminalion of the Twsl's accounts Garried out under section 145 of the Act and in carrying out my examination I have followed all applicable Dire¢tions given by the Chaltty Commission under se¢lion 14515llbl of the Act. Indgpendent examlner'$ $tst¢m•nt I have completed my exarvinalion. I confim that no malefial mallers have corne to my 8tt8nl*)n in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kepl in respect of the Trust as Tequired by section 130 of th8 Act., or the accounts do not accord wlh thos8 r8cords'. or the accounts do not comply with the applicable requirements conceming the fom and content of accounts set out in the Ch8rilies (Accounts and Reports) Regulations 2008 other than any requirèment that the accounts give a true and fair view which is not a matlei considered as part ol an indèpandent examination. I have no concerns and have come a¢ro55 no other mallers in connection with the examination to which attention should be drawn in this raport in order to enable a proper understanding of the accounts to be reached. Nicholas Liley FCA Instslulg of Chartered Accountants tn England and Wales Read, Milbum & Co 71 Howard Street North Shields Tyne and Wear NE30 1AF Dale.. 11 November 2024
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 THE MARKETING TRUST Statement of Financial Actlvltles For the Year Ended 30 June 2024 Unrestrlcted Funds 2024 Total Fund 2024 Fund$ 2023 Not• Income Investment income 115,967 115,967 116.999 Tolal income 115,967 115,967 116.999 Exp•ndltur• Exp8ndilure on charitable activities 144,503 144,503 126.374 Total expenditure 144.503 144,503 126.374 Nat (exnditUre) and net movom?nt in funds bolore gains on investments 128.5361 128,5361 {9,3751 Gains on r8valu81ion of investments 293.283 293,283 67.625 Net lexpenditurellincom• and movomant In g•n•ral fund for the y•ar 264,747 264.747 58.250 Total funds brought forward 3,939,474 3,939,474 3.881.224 Total fund$ carnd forward 4.204,221 4,204,221 3,939,474 The stsloment of financial activities includes all gains and losses recognised in the year. All income and exp8nditurè weie derived from continuing a¢tNities. The notes on pages 10 10 14 fom part of thèse financial statements.
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 THE MARKETING TRUST Balance Sheet as at 30 June 2023 Not• 2024 2023 FIX asset5 Inveslmenls 4,057,024 3,903.741 Total flx•d a$$ots 4057,024 1903,741 Current assets Debtors Cash at bank and in hand 28,495 138.897 167,392 28.971 89,336 118.307 Current IlabilitleS Creditor5.' Amounls falling due within one year 20.195 82.574 curr•nt •$sets 147,197 35,733 Total assets less curr*nt liabiliti0$ 204.221 3,939,474 Cr•ditors= Amourrt5 falling due aftor moro than ono yr Total net assets 4204221 3,939.474 Unr•strictod funds General 4204,221 3,939.474 The notes on pages 10 to 14 form part of financial stat8m8nts. The accounts were approved by th8 Board of Trustees on 6 November 2Q24 and w8re signed on its bahalf by.. Xè- N F Coales Chairman
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 Notes to the accounts For the Year Ended 30 June 2024 Accounting Polici•s la) Basis of pr•paratlon The financial s¢alemenls have bgen prepared under Ihe hlslorical cost Convenllon w(th the excèption of inveslmenls, included al market value. and in accordance th Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irdand IFRS 1021- Icharities SORP {FRS 10211. the Financial Reporting Standard applicable In the UK and RepublSc of Ireland IFRS 102). Judgemènts in applylng accounting pollcl•s and k•y sources of ostimation unc•rtalnty There are no 8stimat8s and judgèments that hav8 a significant risk of causing matèrial adjuslmenl lo the carying arnounts of assets and liabilities Wthin the next financial year. Ic} Going concern Th8s8 financial stal$menls have been prepared gn the going concern basis whi¢h assumes that the Trust will continue in operation for the foreseeable future, considered to be at least 12 months from the dale of signing these financial statgmgnts. The Trust has prepared cash Ilow forecasts and projections Ihal show an excess of income over expendltuce fof Ihg year gnded 30 June 25. In the opinion of the Trustees therg will be Suff18n1 fesources lo meet the Trust's needs over the fLYlhGoming 12 months. Given the above, the Tru81e88 con&der that these financaal statements should be prepared on the 9)ing concern basis. Id) Income All other income is accounted for on an accn2als bas. lel Expenditur• Resources expended are included in the Statement of Financial Activities on an accruals basis, in¢lusive of any VAT which cannot bg rg¢overed. io
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 Notes to the accounts For the Year Ended 30 June 2024 Accounting Poll¢lo$ {contlnu•dl ifj Governancg and support costs The Trusl initially identifies the costs of 115 YJPPOrt fvnclions. It th8n Identifies those costs which relate to the governancè fijndion i.e. board meelings, company secrelarial, accountsney, independent examin8r. Having identified the govemance costs, the remaining is then apportioned lo its charitabla aclivity. Ig) Grants payable Grants payable are charged in the year in whlch they are commilled to the recipient. except in those cases where the offer is conditional. such grants bein9 re¢ognised as expenditu when conditions attached ar8 ftjifilled. Unr•$tricted fund$ Unreslri¢ted funds are donations and other Income receivable or generated for the objects of the charity without hjrther specified purpose and are available as geneRI funds. Unrnallsed gains and loss9$ All unrealised gains and losses are recognis8d in thè 8¢counls. ui Investments List8d investments are stat&d at market value. Realised and unrealised gains and lo$se5 in investmènl assets are dealt with in the Statemgnl of Financial Aclivilies. Mix8d motive investments are includ8d al ¢osl less any provision for diminution in value. Mixed motive inv8Stmgnls are those investments that are made on the basis that it has glements ol both financial investmont and furthering the charity's aims. {kl Ca$h flow statemont The charity ha5 taken advantage of ihe disclosure 8xemplion contained wrthin FRS102 and the Charlli6s SORP IFRS1021 Update Bulletin from prèsènting 8 Statement of Cash Flows. li
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Finar181 Statement for the year ended 30 June 2024 Notes to the accounls (continued) For the Year Endod 30 June 2024 Inv•stm•nts 2024 2023 Listed: Market value at 1 July 2023 Sales Realised gain on investments Unrealised gain on inveslmenls 3.3,141 1140.0001 45,902 247,381 3.836.116 67.625 Market value at 30 June 2024 4057.024 3.903.741 Cost at 30 June 2024 2.783,666 2.877,765 COIF Chaiilies Investment Fund COIF Charities Prop9ty Fund 3,891,020 166,004 3.728.520 175.221 4,057.024 3.903.741 Expenditur• on charltablè activiti UnrtrIcted Funds 2024 Total Funds 2023 Funds 2024 Grants payablo: Academy of Marketing Youn9 Enterprise University of Bath Brunel University London History of Advertising Trust Roy81 Society of Art5 Link UP London Media Tfust Cardiff Metropolitan Middl8sèx University Leicester Univèrsity (write backl Middlesex University {nol banked) Total grants payable 43,024 20,000 20,710 4.944 43,024 20,000 20,710 4,944 13,024 20,000 5,556 20,0 27.695 30,720 33,693 5,584 931 33,693 5,584 931 1643} 2.803 111549 128.886 128,886 Other charitablo actlvltlès: Awards Donation Websf(e and other design Total other Charitablè activities 2,100 102 558 2.760 2.100 102 558 2,760 366 Support costs: Grant administration costs Travel gypenses Tru5tees' exFenses.'. grants related Total support ¢osts 6.667 191 6.667 191 6.667 867 867 7.725 648 7.31 S 12
THE CHARTERED INSTITUTE OF MARKETING CHARrrABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 Notes to the accounts {continued) For the Year Ended 30 June 2024 Expenditure on eharilable •¢tivities {continued Unrestricted Funds 2024 Total Funds 2024 Total 023 Ggveman¢o costs.. Independent Ex8miner fees Administration feès Trustee expenses Meeting room hire Assoc. of Charitable Foundation membership Bank charges Total govemancg tegs 1,014 3,333 635 110 1,014 3,333 635 110 1,002 3.333 203 5.132 5.132 4.544 Total éxp•nditure on charitabl• activ5t5os 144,503 144.503 126,374 D•btors 2024 Investment income 28,495 28.971 28.495 28,971 Credltors.. Amounts falling du• within one year 2024 Accrual$: Thè Chartered Inslrtute of Markets'ng Royal Society of Arts IRSA} University of Lancaster University of Bath University of Leicester Aston University Brunel University Media Trust Link UP London History of Advertising Independent Examiner fees 10,000 10,000 25.000 1,530 1.530 5,066 1.111 12,288 20,310 11,333 1,002 2,585 1,014 20.195 82.574 13
THE CHARTERED INSTITUTE OF MARKETING CHARITABLE TRUST Annual Report and Financial Statement for the year ended 30 June 2024 Notes to the accounts (continued) For the Year Ended 30 June 2024 6 Creditors: Amounts falling due after mor• than on• year 2023 Royal Society of Arts IRSAI 7 Unr•stri¢ted funds 2024 2023 Funds at 1 July 2023 Net movement for th8 ygar 3,939.474 284.747 3.881,224 58.250 Funds at 30 June 2024 4,204,221 3.939,474 8 Trustws. emolum*nts No Iruslees received any ernolumants in respect of their services lo the Trust. The aggregate amount of expenses reimbursed to the Trustees amounted lo £1,502 {2023 - £6481. These expenses were reimbursed lo 2 Iruslees12023 - 2) and lated to trav81, The Marketing TNJst does not employ ils own siaff but uses those of The Institute of Chartered Markgling which forms part of ihe support lees of £10.00012023 - £10,000}. Investment Income Investment income was derived from th& COIF Chanties Investment Fund. COIF Charities Property Fund. 10 Related party disclosurns There were no relatgd party transactions for the yoar ended 30 June 2024. 14