CLA Charitable Trust Accounts CLA CHARITABLE TRUST TRUSTEES, REPORT. INDEPENDENT EXAMINER'S REPORT AND FINANCIAL STATEMENTS YEAR ENDED 30 NOVEMBER 2022 CHARITY REGISTRATION NUMBER280264 CLA Charitable Trust Accounts Contents Page Officers and Advisers Chair of Trustees Report Trustee's Report Statement of the Responsibilities of the Trustees Independent Examiner's Report statement of Financial Activities 10 Balan￿ Sheet Notes to the Financial Statements 12 21 Page CLA Charitable Trust Accounts Trustees: Bridget Biddell (Chairl Robin W Clarke Andiew Grant Jane Lane Roger Douglas Giles Bowring Caroline Wilson 280264 Charity Registered number: Bankers: The Royal Bank of Scotland 62-63 Threadneedle Street London EC2R 8LA Registered Office: 16 Belgrave Square London SW1X 8PQ Independent Examlner: Crowe U.K. LLP 41h Floor St James House Sl James Squarè Cheltenham GL5D 3PR Investment Managers: Rathbone Investment Management Limited 8 Finsbury Circus London EC2M 7AZ 3 | Page CLA Charitable Trust Accounts Chair's Report for the year ending 30th November 2022 We have continued to increase our giving to support the work of 61 charities and social enterprises. with grants made totalling £257,487.This is a significant increase on 2021 when 40 grants were made totalling £157,036.Our grants have been spread across England and Wales as shown here.. East, 17%..::, We continue lo receive many more applications for grants than we can fund. l am grateful to the trustee Board for their diligence and time in considering the applications and making the difficult decisions about which of these excellent charities and social enterprises will deliver the Dutcomes in line with our priorities and objecls. We continued to make multi annual grant to the following three charilies whose valuable work aligns so well with our aims, Farms for City Children https.IlfarmsforcityGhildren.orgl Jamie's Farm https'.Iljamiesfarm.org.ukl The Country TrLJSt hlt s'.Ilwww.countr trusl.or .ukl The Charitable Trust continues to make scholarships lo undergraduates. This year three additional students al Harper Adams University received two year scholarships. l am also delighted to report that for the first time in the trusts history we made two scholarships lo undergraduates at Aberystwyth university. We continue lo priDritise students who are from a background traditionally underrepresented in the rural employment sector, to endeavour to increase the number of future rural champions. CLA Charitable Trust Accounts 11 has been another difficult year for many of our grantees suffering from the years of covid. However, we have been inspired by the resilience and innovation of the charities and CIC'S, resulting in an increasing delivery of this valuable work. We would like to thank our grantees for this and are grateful to be able lo support their work. As in previous years I would like to thank the CLA for their support, for undertaking the work required under the service level agreement, and helping raise Ihe profile of the Charitable Trust through increasing sosial media and communication. The work of the Charitable trusl, to support inspired social enterprises and charities that provide access and education to the countryside is only made possible by the generous donations of our donors, I would therefore link to finish by thanking our donors for their support. Bridget Biddell MA MRICS DL Cha(r of Trustees CLA Charitable Trust Accounts Trustee's Report for the year ending 30th November 2022 THE TRUST DEED The Charitable Trust deed was made Dn 29 March 1980 and presented to the Commissioners of Inland Revenue on 2 June 1980. The Registered Charity Number is 280284, THE OBJECTS OF THE TRUST The Trustees shall hold the capital and income of the trust Fund upon Trust to apply the same al such time or times as Ihey may in Iheir absolute discretion think fil for all or any one or rnore of the following objects: 1. Advancing people's physical and mental health and wellbeing, through financial support of charities, not for profit organizaliong and social enterprises which are delivering access, recrèational and educational opportunities within and about the countryside. 2. To promote and encourage education in, farming, food production and rural land management 3. The relief of poverty 4. Such other charitable purposes as the trustees may in their absolute discrelion from time to time think fit. 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 intenlions of the founding Trustees. ORGANISATION The Trust is administered by seven 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 wilh 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, bul the power of appoinling new trustees is exercisable by the President of the CLA. The Trustee Board includes one trustee as the CLA Board representative who also sits on the CLA Board. THE YEAR 2021- 2022 The total amount of grants and scholarships awarded by the Trustees during the year was £257,487 (2021.. £157,036), an increase of 640A over 2021. CLA Charltable Trust Accounts REVIEW OF TRANSACTIONS A full statement for the year ending November 2022 is given in the Statement of Financial Activities and Balance Sheet on subsequent pages. GRANTS TO OTHER ORGANISATIONS A list of grants of £5,000 and over, ts on page 15 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 lo the public benefit guidance published by the Charity Commission in determining the activities of the Trust. The Trustee5 review the activities against its aims and are satisfied that all the activities continue to focus on achieving its aims. No specifi 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 Ihe Trust lo meet all outstanding commilrnents at any point in time whilst having regard to Ihe level of investments and the ongoing support of the CLA and its members. INVESTMENT POLICY The investmenl policy of the Trusl is one with medium risk with the aim of achieving a growing income and capital growth. The Trustees believe that a mixed portfolio of bonds, equities, alternative inveslments and cash would produce an income return in excess of cash and money market instruments and also has the potential to grow over time, albeil with some risk to capital. However, the portfolio is well diversified frDm a geographical perspective and has the potential to generate capital growth in the rnedium term- The Trustees reappointed Rathbone Investment Management Ltd as the inv8Stment manager. The Trustees have asked the Investment Managers to clarify Iheir ESG policies in terms of all investments held on behalf of the Trust. The performanceof the portfolio under Rathbone's management eXperIen￿d a disappointing year.. from December 2021 to November 2022, the portfolio produced negative returns of 7.10/0, compared to the benchmark of 12.30/0 and the FTSE All Share return of 2.3010. CLA Charitable Trust Accounts TRUSTEE'S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Trustees, report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢￿pted Accounting Practice.) The law applicable to charities in England and Wales requires Trustees lo prepare finar)cial statements for each financial year which give a true and fair view Of the slate 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 Irustees are required to.. selecl suitable accounting policies and apply them consislently observe the methods and principles of the Charities Statement of Recommended Practice make judgements and estimates that are reasonable and prudent slate whether applicable accounting standards have been followed, subject lo any departures disclosed and explained in the financial statements., and., prepare the financial statements on the going concern basis, unless il is inappropriate lo presume that the Trust will continue in operation The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy al any time, the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011 and Ihe 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 mainten8nce and integrity of the Trust and the financial information included on the website. This report was approved by the Trustees on 22 June 2023 and signed on their behalf by.. Bridget Biddell MA MRICS DL Chair of Trustees ## **CLA Charitable Trust Accounts** ## **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 2022, which are set out on pages 10 to 15. 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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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 Date: 04 July 2023 9IPage ## **CLA Charitable Trust Accounts** ## **CLA CHARITABLE TRUST ACCOUNTS STATEMENT OF FINANCIAL ACTIVITIES** Year ended: 30 November 2022 |||**Unrestricted**||| |---|---|---|---|---| |||**Funds**|**Total**|_Total_| |||**2022**|**Funds**|_Funds_| ||||**2022**|_2021_| ||**Note**|**£**|**£**|| |**Income from:**||||| |Donations||213,57 9|**213,579**|_212,008_| |Other - Deed of Covenant/Gift Aid||1,090|**1,090**|_253_| |||214,669|**214,669**|_212,261_| |**Investments**||10,188|**10,188**|_13,322_| |**Total Income**||224,857|**224,857**|_225,583_| |**Expenditure on:**||||| |Raising Funds|**3**|(3,921)|**(3,921)**|_( 3,147)_| |Charitable Activities|**4**|(257,487)|**(257,487}**|_{157,036)_| |**Total Expenditure**||( 261,408)|**( 261,408 }**|_{160,183)_| |**Net lncome/(Expenditure}**||( 36,551)|**{ 36,551 }**|_65,400_| |**Other Recognised Gains/(Losses)**||||| |(Losses)/Gains on investments||( 33,856)|**( 33,856 )**|_35,552_| |**Net Movement in Funds**||( 70,407 )|**( 70,407 }**|_100,952_| |**Reconciliation of funds:**||||| |Total funds brought forward||383,321|**383,321**|_383,321_| |**Total funds carried forward**||312,914|**312,914**|_484,273_| The notes on pages 12 to 15form part of these financial statements 10 I Pag e ## **CLA Charitable Trust Accounts** CLA CHARITABLE TRUST ACCOUNTS BALANCE SHEET As at **30 November 2022** **----- Start of picture text -----**
2022 2021
Note £ £ £ £
Fixed Assets:
Investments 5 3S3,762 391,878
Current Assets:
Debtors and Prepayments 6 lS,212
Cash at Bank 4S,892 94,894
61,104 94,894
Creditors due within one year: 7 (1,000) {2,500)
Net Current Assets 60,104 92,394
TOTAL NET ASSETS 413,86S 484,272
FUND
Unrestricted Fund 413,BGS 484,272
**----- End of picture text -----**
The notes on pages 12 to 15 form part of these financial statements. ents were approved by the Board of Trustees on 22 June 2023 and were signed on its behalf by: **Chair of Trustees** 11 I P a g e CLA Charitsble Trust Accounts NOTES TO THE FINANCIAL STATEMENTS 1. General informatlon The CLA Charitable Trust is a registered charity (Charity registered number 2802641 with the Charity Commission in England and Wales. The registered office is 16 Belgrave Square, London SW1X 8PQ. 2. Aecounting policies 2.1. Basis of preparation of financial siatpments The financial statements have been prepared in accordance with the Charitles SORP IFRS 1021 {second edition October 2019 Accounting and Reporttng by Charities.. Slalement of Recommgnded PraGlice applic2ble lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. A5se15 and liabililiesare initially Tecognised al historical cost or transaction value unless olhenmise slated in the relevant accounting policy. The presenlalional currency of the Trust is Sterling and the financial slalements have been roundgd to the nearest whole number. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consislenlly applied lo all years p¥esented unless otherwise staled. The CLA Charitable Trust meets the definition of 8 public benefit enlily under FRS102. 2.2. Going concern Al the lime of approving the linancial slalements, 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 uncerlainlies about ils ability lo continue. Thus the Trustees continue lo adopt the going concern basis ofaccounling in preparing the financial slalements. 2.3. Incoming resources All income is recognised once the Charitable Trust has enlillemenl lo the income and il is probable that the income will be received, and the amount of income receivable can be measured reliab￿. Other donations are included within income when these are received. 11 there are condillons allached lo the donalionlsl that require a level of performance before entitlement Can be oblalned, the income is deferred until those conditions are fully met or the fulfillmenl of those conditions is within the control of the Charitable Trust, and il is probable that they will be fulfilled. 2.4. Resources expended All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or conslruclive obligation lo liansfer economic benefit lo a third party and il is probable that a transfer of economic benefits will be required in selllemenl and the 8rnounl of the obligation can be measured reliably. 12 | Page CLA Charitable Trust Accounts 2.5. Costs of generating funds Expenditure on raising funds includes 911 expenditure incurred by the Charitable Trust lo raise funds for ils charitable purpose and includes ¢osts of fundraising activities and evènts and investment manager cosls. 2.6. Charitable Activities Expenditure on charitable activities is incurred on directly undertaking the activities which fuilher the Charitable Trust's obje¢lives, a5 well as any 2ssocialed support costs. This includes Grants made by the Trust, bursaries to scholars at Harper Adams University and an appropriate proFX)rtion of overheads. All expenditure is inclusive of irrecoverable VAT. Grants payable lo organisalions are within the charitable objectives of the Trust. Where unconditional grants are offered, this is accrued as soon as the recipient is notified ol the grant, as this gives rise to a reasonable expectation Ihal the recipient will receive the grants. 2.7. Fixed asset Investments Fixed Assets investments are a form of basic financial instruments 2nd are initially recognised at their transaction value and subsequently measured al 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 fund5 are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives arid 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 reslrlelions 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. Basie financial Instruments include debtors and creditors. Debtors and creditors are initially recognised at transaction value and subsequently measured al their selllement value. 2.10. Judgements and key sources of estimation uncertainty Estimates and judgements are conlinEJally evaluated and are based on historical experience and other factors that are believed lo be re2sonable under the circumstances. There are no signifiGanl estimates and judgements used in the preparation of these financial slatemenls. CLA Charitable Trust Accounts 3. Cost Of raising fund5'. Unfestricted funds 2022 Unrestricted funds 2021 Travel & subsistence IFkvestment management fees 1,024 2,897 150 2,997 3.921 4. Charitable activities.. Unrestricted fL¢nd5 2022 Unrestricted funds 2021 Grants Support Costs Insurance Independent Examlnation Administration, Printlttg, postsge & StationeTr 243,838 11,040 392 1,948 269 144,454 10,082 442 720 1,338 257,487 157,036 During the year ended 30 November 2022, expenses totaling £40112021:£1501 We￿ reimbursed or pald directly to Ttustees The expenses were for their travelling and subsistence where they wp.rp not claimable from another source. 5. Inve5trnentS'. 2022 2021 Mathet Value brought fO￿ard 391.878 354,507 Additions 86,500 Oisposals 120.3241 f53.031J Movement In cash held for reinvestment 16.064 31.659) ILossesl/Gains 133,8561 35,552 Market Value carried forward 353,762 391,878 141 Page CLA Charitable Trust Accounts 6. Debtois un¥est¢l¢ted lun&5 20ZZ UNestriite 2021 Accwed Intome 15212 7. cred11￿5 an￿￿Tht lallifp8 due WrylNnone Yellr lund$ 2L22 Iund52021 Grant C(Thmitments 2022 2021 Pro￿ht (r￿Id at l Decen*pt2011 Awhided in the ytar 25570 144,451 1700211 243.83B 243.8381 Cairled t￿￿3[￿ at 3Q WOvembeF2022 No Pr￿510￿ fofts*a%l￿IS the CharitaNeTItsSt15 a R£8lsteredCharity nd It iJkeg athantageof thee¥erytit]ns avAllaWptDI*. g. finhncièl Instru￿ts 2022 2021 486.Y72 Rnantlèl a$5eis ?r@ mEa5ulpd atfalitradewalvectynpr15ellstedinvestments and EHsh 10. Grènts £S(KX>tOother(￿gO￿￿4llofiS Redpl8nt-Unre5tfftcted Amount HarperAda￿ univelSltyDevelopMentTru5t 15,thD 6,￿0 TheCovntryTluSt Eye Nkn5Woo(Manls 6,OUO 5,940 5,S64 Jamle'sFarrn Freefoge Kid5 EmptsweiingFuture5 Da15y(hain Project towranC3re 5.000 s.000 5.WO The K¢pplwdrayTivSt TowprHotss￿ ￿Mse5clo WestEndWDrnEn fIr￿Centle yo￿rFe1k￿llstQl trysldeLeiinSn8 Wifith*sleiVoth Co￿SellIng CDmMunlgroW caeRhuB HDliStl¢Fariii 5,QOD 5,th)O 38 OthÈiE13nls were èwardedduilng th@yEarttstallih8 £111.834. NDEiarts be&n madetulndmthjèls. 13. Bèlated paTtyttsnsattiors T￿cLA c￿lI10b1èT￿SI Ith&TTusII ha5 I lelèiedpanyrelations￿pwlth the La￿1 3nd Buslne55 ￿5D[latIv￿ ICLAI, Mernber5 Oft￿ CLA mako aThinnual dDnètiunol£lO towdrth tlie 8ront makingowective ol theTrust. At end of I1￿ fina￿[1￿1 year2012. Ihere wa5 & balan￿ due totho