CLA Charitable Trust Accounts
CLA CHARITABLE TRUST
TRUSTEES’ REPORT, INDEPENDENT EXAMINER’S REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2021
CHARITY REGISTRATION NUMBER 280264
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| Contents | Page |
|---|---|
| Officers and Advisers | 3 |
| Chair of Trustees Report | 4 |
| Trustee’s Report | 6 |
| Statement of the Responsibilities of the Trustees | 8 |
| Independent Examiner’s Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 |
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Trustees: Bridget Biddell (Chair) Robin W Clarke Andrew Grant Jane Lane Roger Douglas Giles Bowring Charity Registered number: 280264 Bankers: The Royal Bank of Scotland 62-63 Threadneedle Street London EC2R 8LA Registered Office: 16 Belgrave Square London SW1X 8PQ Independent Examiner: Crowe U.K. LLP 4[th] Floor St James House St James Square Cheltenham GL50 3PR Investment Managers: Rathbone Investment Management Limited 8 Finsbury Circus London EC2M 7AZ
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Chair’s Report for the year ending 30[th] November 2021
This year marks the CLA Charitable Trust’s 40[th] year, and I am particularly pleased that in 2021 we have been able to significantly increase our grant making by 77%, awarding over 40 grants amounting to more than £144,000. I am very grateful to the CLA membership who by increasing their donations have made these grants possible. Geographically the grants cover all the regions of England and Wales.
During the year the trustees held three meetings at which grants were awarded. A fourth meeting was held in January to discuss governance issues, which included updating our primary objectives. They are as follows:
To promote education about the countryside for young people from towns and cities and for disadvantaged people.
To provide facilities for people with a wide range of disabilities to enjoy the benefits of the countryside.
To support the advancement of education in agriculture, horticulture, and conservation for disabled and disadvantaged people.
We continue to receive more grant applications than we have been able to fund. This is not surprising given the growing understanding of the value of the countryside for health, wellbeing and education combined with the ongoing pandemic. In turn this has meant a very difficult year for many of our grantees with the pandemic disrupting their flow of work, against a background of increased need for the valuable services they are providing.
We have continued to make a multi annual grant to the following three charities whose valuable work aligns so well with our aims,
Farms for City Children https://farmsforcitychildren.org/
Jamie’s Farm https://jamiesfarm.org.uk/
The Country Trust https://www.countrytrust.org.uk/
I am pleased that the trust has continued to make additional scholarships in November 2021 to Harper Adams University; this year supporting a further five new scholars, as well as continuing to support the existing four scholars. We have also broadened the undergraduate courses that are studied to include a wide remit of agricultural and environmental degrees.
I am extremely grateful to all our grantees for the supportive and caring work they undertake, assisted by the CLACT, because through their work we are able to fulfil our aims and objectives.
I would like to thank the CLA for their continued support, in particular for undertaking the work required under the service level agreement, as well as communicating the trusts work through
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digital and other media. We have worked at increasing our profile with both the voluntary sector, linking with several other charities and organisations, as well as our donors.
Finally, I would like to thank all our donors, who, between them, have made a substantial contribution to improving the lives of many people, by enabling the trust to support inspired social enterprises and charities that provide access and education to the countryside.
Bridget Biddell MA MRICS DL
Chair of Trustees
15 March 2022
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Trustee’s Report for the year ending 30th November 2021
THE TRUST DEED
The Charitable Trust deed was made on 29 March 1980 and presented to the Commissioners of Inland Revenue on 2 June 1980. The Registered Charity Number is 280264.
THE OBJECTS OF THE TRUST
The Trustees shall hold the capital and income of the trust Fund upon Trust to apply the same at such time or times as they may in their absolute discretion think fit for all or any one or more of the following objects:
- Advancing people’s physical and mental health and wellbeing, through financial support of charities, not for profit organizations and social enterprises which are delivering access, recreational and educational opportunities within and about the countryside.
Priorities:
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Beneficiaries- children and young people, disadvantaged financially, physically, mentally, or from areas of deprivation.
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Organizations- to support, existing, small, and medium sized within England and Wales
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Type of support- running costs, capital, and project costs.
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To promote and encourage education in, farming, food production and rural land management.
Priorities:
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Beneficiaries- individuals with that have potential to work to a high academic standard.
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Priority will be placed on beneficiaries who are financially disadvantaged, and, or will bring increased diversity into rural business.
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Provision of bursaries to attend college and university for degree or masters in studying farming, food production and rural land management.
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The relief of poverty.
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Such other charitable purposes as the trustees may in their absolute discretion from time to time think fit.
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POLICIES OF THE TRUST
The Trustees have the discretion to vary the objects of the Trust to ensure that its work continues to be relevant and to meet the intentions of the founding Trustees.
ORGANISATION
The Trust is administered by six Trustees, of whom one is the Chair, and administrative support is provided by the CLA under a service level agreement. Trustees are appointed for a term of three years with a possible further three-year term. Selection of any new trustees is made after advertising within the CLA membership and through a formal interview process. A trustee’s skill audit is maintained and new trustees are recruited to provide the skills identified as required. Trustees receive an induction pack on having been recruited. There are no restrictions on the number of trustees, but the power of appointing new trustees is exercisable by the President of the CLA. The Trustee Board includes one trustee as the CL Board representative who also sits on the CLA Board.
THE YEAR 2020 – 2021
The total amount of grants awarded by the Trustees during the year was £144,454 (2020: £81,338), an increase of 77% over 2020. There are currently four students at Harper Adams University who receive a bursary in their second and fourth year of study.
REVIEW OF TRANSACTIONS
A full statement for the year ending November 2021 is given in the Statement of Financial Activities and Balance Sheet on subsequent pages.
GRANTS TO OTHER ORGANISATIONS
A list of grants over £2,000 is on page 16 in note 10 to the accounts.
PUBLIC BENEFIT
The Trustees confirm that they have complied with their duty in the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities of the Trust. The Trustees review the activities against its aims and are satisfied that all the activities continue to focus on achieving its aims. No specific issues of detriment or harm have been identified.
RESERVES POLICY
The level of reserves are set at an appropriate to ensure that adequate resources are available to allow the Trust to meet all outstanding commitments at any point in time whilst having regard to the level of investments and the ongoing support of the CLA and its members.
INVESTMENT POLICY
The investment policy of the Trust is one with medium risk with the aim of achieving a
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growing income and capital growth. The Trustees believe that a mixed portfolio of bonds, equities, alternative investments and cash would produce an income return in excess of cash and money market instruments and also has the potential to grow over time, albeit with some risk to capital. However, the portfolio is well diversified from a geographical perspective and has the potential to generate capital growth in the medium term ~~.~~
The Trustees reappointed Rathbone Investment Management Ltd as the investment manager.
The Trustees have asked the Investment Managers to clarify their ESG policies in terms of all investments held on behalf of the Trust.
The performance of the portfolio under Rathbone’s management has delivered very impressive gains during the year: from December 2020 to November 2022, the portfolio produced a total return of 14.3%, compared to the benchmark of 7.6% and the FTSE All Share return of 11.8%.
PLANS FOR FUTURE PERIODS
The Charity will continue its programme of grant giving during the next financial year.
TRUSTEE’S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The Trustees 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.)
The law applicable to charities in England and Wales requires Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently
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observe the methods and principles of the Charities Statement of Recommended Practice
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• make judgements and estimates that are reasonable and prudent
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and;
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prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the Trust will continue in operation
The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Trust and the financial information included on the website.
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This report was approved by the Trustees on 15 March 2022 and signed on their behalf by:
Bridget Biddell MA MRICS DL
Chair of Trustees
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Independent Examiner’s Report to the Trustees of CLA Charitable Trust
I report to the trustees on my examination of the accounts of CLA Charitable Trust (the charity) for the year ended 30 November 2021, which are set out on pages 11 to 17.
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’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 charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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.
Tara Westcott FCCA Crowe U.K. LLP 4th Floor St James House St James’ Square Cheltenham Gloucestershire GL50 3PR
24 March 2022
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CLA CHARITABLE TRUST ACCOUNTS STATEMENT OF FINANCIAL ACTIVITIES Year ended: 30 November 2021
| Note Income from: Donations Other - Deed of Covenant/Gift Aid Investments Total Income Expenditure on: Raising Funds 3 Charitable Activities 4 Total Expenditure Net Income/(Expenditure) Other Recognised Gains Gains on investments Net Movement in Funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds 2021 £ 212,008 253 212,261 13,322 225,583 (3,147) (157,036) (160,183) 65,400 35,552 100,952 383,321 484,273 |
Total Funds 2021 Total Funds 2020 £ £ 212,008 53,608 253 1,466 212,261 55,074 13,322 10,781 225,583 65,855 (3,147) ( 2,942 ) (157,036) ( 93,153 ) ( 160,183) ( 96,095) 65,400 ( 30,240) 35,552 2,005 100,952 ( 28,235 ) 383,321 411,556 484,273 383,321 |
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The notes on pages 12 to 17 form part of these financial statements
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CLA CHARITABLE TRUST ACCOUNTS
BALANCE SHEET As at 30 November 2021
----- Start of picture text -----
2021 2020
Note £ £ £ £
Fixed Assets:
Investments 5 391,878 354,507
Current Assets:
Debtors and Prepayments 6 - 5,685
Cash at Bank 94,894 52,119
94,894 57,804
Creditors due within one year: 7 (2,500) (28,990)
Net Current Assets 92,394 28,814
TOTAL NET ASSETS 484,272 383,321
FUND
Unrestricted Fund 484,272 383,321
----- End of picture text -----
The notes on pages 12 to 17 form part of these financial statements.
The financial statements were approved by the Board of Trustees on 15 March 2022 and were signed on its behalf by:
Bridget Biddell MA MRICS DL
Chair of Trustees
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NOTES TO THE FINANCIAL STATEMENTS
1. General information
The CLA Charitable Trust is a registered charity (Charity registered number 280264) with the Charity Commission in England and Wales. The registered office is 16 Belgrave Square, London SW1X 8PQ.
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) (second edition - October 2019 – 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).
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The presentational currency of the Trust is Sterling and the financial statements have been rounded
to the nearest whole number.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The CLA Charitable Trust meets the definition of a public benefit entity under FRS102.
2.2. Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about its ability to continue.
Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Incoming resources
All income is recognised once the Charitable Trust has entitlement to the income and it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Other donations are included within income when these are received. If there are conditions attached to the donation(s) that require a level of performance before entitlement can be obtained, the income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the Charitable Trust, and it is probable that they will be fulfilled.
2.4. Resources expended
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All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party and it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
2.5. Costs of generating funds
Expenditure on raising funds includes all expenditure incurred by the Charitable Trust to raise funds for its charitable purpose and includes costs of fundraising activities and events and investment manager costs.
2.6. Charitable Activities
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitable Trust’s objectives, as well as any associated support costs. This includes Grants made by the Trust, bursaries to scholars at Harper Adams University and an appropriate proportion of overheads.
All expenditure is inclusive of irrecoverable VAT.
Grants payable to organisations are within the charitable objectives of the Trust. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants.
2.7. Fixed asset investments
Fixed Assets investments are a form of basic financial instruments and are initially recognised at their transaction value and subsequently measured at fair value using the closing quoted market value. All gains and losses are accounted in the statement of Financial Activities (SOFA) when they arise.
The Charitable Trust does not have holdings in complex financial investments.
2.8. Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives and which have not been designated for other purposes. There have been no restricted funds in the last two years, as donors have made voluntary donations with no obligations or restrictions on the Charitable Trust.
2.9. Financial Instruments
The charity holds only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.
2.10. Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors that are believed to be reasonable under the circumstances.
There are no significant estimates and judgements used in the preparation of these financial statements.
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CLA CHARITABLE TRUST ACCOUNTS STATEMENT OF FINANCIAL ACTIVITIES Year ended 30 November 2021
| 3. Cost of raising funds: Travel & subsistence Charities Aid Foundation fees Investment management fees 4. Charitable activities: Grants Support Costs Insurance Independent Examination Administratio, Printing, postage & Stationery |
Unrestricted Unrestricted funds funds 2021 2020 £ £ 150 228 - 12 2,997 2,702 3,147 2,942 Unrestricted Unrestricted funds funds 2021 2020 £ £ 144,454 81,338 10,082 10,082 442 510 720 900 1,338 323 157,036 93,153 |
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During the year ended 30 November 2021, expenses totaling £150 (2020:£NIL) were reimbursed or paid directly to Trustees The expenses were for their travelling and subsistence where they were not claimable from another source.
5. Investments:
| Market Value brought forward Additions Disposals Movement in cash held for reinvestment Gains Market Value carried forward |
2021 2020 £ £ 354,507 355,204 86,500 - (53,031) (12,306) (31,650) 9,604 35,552 2,005 391,878 354,507 |
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6. Debtors
| Accrued Income 7. Creditors amount falling due within one yea Grant Commitments Accruals Grant Commitments Brought frward at 1 December 2020 Awarded in the year Paid in the year Carried forward at 30 November 2021 |
Unrestricted Unrestricted funds 2021 funds 2020 £ £ - 5,685 r Unrestricted Unrestricted funds 2021 funds 2020 £ £ 25,570 2,500 3,420 2,500 28,990 2021 2020 25,570 31,565 144,451 81,338 (170,021) (87,333) - 25,570 |
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8. Taxation
No provision for taxation is required, as the Charitable Trust is a Registered Charity and it takes advantage of the exemptions available to it.
9. Financial Instruments
| 9. Financial Instruments | 2021 | 2020 |
| £ | £ | |
| Financial assets measured at fair value | 486,772 | 406,626 |
Financial assets easured at fair trade value comprise listed investments and cash
10. Grants over £2,000 to other organisations
Recipient- Unrestricted Fund
| Recipient- Unrestricted Fund | Amount |
| £ | |
| Bryntail Cottage | 3,000 |
| Food & Farming Discovery Trust | 4,727 |
| Lake District Calvert Trust | 5,000 |
| The magdalen Environmental Trust | 2,378 |
| Rowan Humberstone Ltd | 4,000 |
| Wellgate Community Farm | 5,000 |
| Wild things Ecological Education Collective | 4,347 |
| The Holly Lodge Centre | 2,000 |
| Andover Trees United | 5,000 |
| Doncaster Deaf Trust | 2,700 |
| Go Beyond | 3,150 |
| Growing Well | 5,000 |
| Millenium Farm Trust | 5,000 |
| Ouseburn Farm Charity | 4,000 |
| Umbrella Derby & Derbyshire | 3,000 |
| Youth on the Move | 3,000 |
| Stonebridge City Farm | 2,500 |
| Farms for City Children | 6,000 |
| The Country Trust | 6,000 |
| Jamies Farm | 6,000 |
| Chaos Group Cornwall | 2,215 |
| Cherry Trees | 4,000 |
| Community Heart Productions | 4,000 |
| Forest of Avon Trust | 2,793 |
| Game Change Project | 4,500 |
| Green Synergy | 4,560 |
| Kids Inspire | 2,500 |
| Lizard Outreach Trust | 4,500 |
| We are Grow | 5,000 |
No grants have been made to individuals.
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- Related party transactions
The CLA Charitable Trust (the Trust) has a related party relationship with the Country Land and Business Association (CLA). Members of the CLA make an annual donation of £10 towards the grant making objective of the Trust. At the end of the financial year 2021, there was a balance due to the Trust of £NIL (2020: £5,585)
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