Company registraiTon number. 02037412 Charity reglstration number.. 295237 Network For Social Change Charitable Trust (A company limitad by guarantee) Annual Rgport and Finanual Statem8ntS forthe Year Ended 31 August 2024 WESTCOTTS ¢HA*TERtD A¢eOIJMTANTJ 4 IULIIN551 ADVILIEftS
N?twork For Soclal Chango Charitabl• Trust Contonts ReferenGe and Administraliva Detalls Trustees, Report 2to11 Ind8pendent Auditors, Report 12to15 statement of Financial Actlbe$ 18 Bdancg Sh8et 17 Stslament of Cash Flows 18 Notes to the Financial Statwnents 19to30
Network For Social Chang• Charitablè Trust R8ference and Adrninistrative Detalls Trustees: G Howarth R Mans6r (resigned 18 February 2024) M B Tucker (rèsigned 16 February 2024) C Freeman P Horrocks H Wingfield lappoinled 18 February 20241 H Currey lappoinled 18 February 2024} A Sthrfl (resigned 31 October 2023) Secretary C Freeman Charfty Registration Numbor 295237 Company Rgglstration Numbèr 02037412 The charity is incorporated in England and Wales. 2&28 South&mhay East Exeter Dèvon EX1 1NS Replstered Offi Audltor Westo)tts {SW) LLP Statutory Auditor 47 Boutport Str¢•t Bamstaple Devon EX311SQ Page 1
Network For Social Chango Charitable Trust Trustees. R•port The trustses, who Ore directors for the purposes of company law, psent the annual report together WTth the financial statemènts and auditors, report of the charttable company for the year ended 31 Auguyt 2024. tfvg viti• Gonwal obi•ctfvoS The obj8ctNes of NSCCT are lo dl8lribule funds raised through its members in furtherance or advancement or for the benefft of those chayltle$, ¢harf(able instilubons, or charrtable purposes that Iha Trustses of the wmpany shall in their abscAute discrètion seled and Ihink fft. Publlc b•nefft The Chartty continue8 to make grants to charities, organisalions wrfh charitable obje¢tivas and charTtable purposes. The Truste9$ confirm that they have considered the Charrty Comm1$8ion's guidance on public benefft 8nd the Charity Commission's updated guidance on Trustee$, rèsponsibilitses when reviewing the charttls aims and objedlve$ and in planning future aGtmt and Setting the grant making policy foT the year. Main obl•ctlve¥ lor th• yèar Spèofic objectives for the year were lo continue to support the long-l&mi Major Projects (running over several y8arsl-, lo make annual awards foT new projacts proposed by th8 six tOPiC-based Pools (Arts & Education for Change, E¢xJnomic Justice, Green Planet. Heatth Justice, Human Rights, and P¥a¢el and to make smaller awards for Fast Track funding projects proposed by iThJiMdual rnembers. Stratsgles for achlovlng Msccf¥ stst•d obctIve Most fund5 are raised at the NSCCTS Conferences in February and SeptemberlOctob&r each year, which are attended by about 80 of NSCCT'S 111 members, athough members not attending the conferènce also contrTbtrtg lo the ndS that ar8 raised. Nsccf$ strategy is based on thg involvemant, partiCspab"on. and generosty of 115 members, tr8d 8rounO thasa conferences. Some further funds afa taised Iwi(* a year for Fast Track funding projects through an online pledging process. Slgniflcant actlvhl•$ that contrlbute to th• a¢hl•v•m•nt of the $tstsd objoctkves The biannual conferences mentioned above prowde Information for fflembers about the proj8Cts and PTomole trust betyjegn member5, allowing them to speak franY about themselves and their indmdual ftjnding objectives, and to collaborate successfully on NSCCTS funding objectives. NSCCT membgrs organise meelings and training sessions relevant to the work of th8 organi5ation. Grant4Mking polkl•$ NSCCT aims to fvnd organisalions both in the UK and overseas which are likety to effect benefiryal swal change through Search, public education, innovatory services. 8nd other legal and charitable activ0$. NSCCT sUPPOrts organisations whlch promote human rights and dignty, further the development of cfvil swety, husband the earth's re3tJurces and promote peace and nOoI&nee. Page 2
Network For Social Change Charitable Trust Trustse8' Report Ali projects in the annual Pools cyde are intrOdUd and asse558d by members themsefv8s. Thes& grants are paid annually In MarchlApril', organisations are asked to report bad( to NSCCT by the following April on the use they have made of thé grants induding any challenges 8ncountered and lessons leamèd. These reports are rewewed. summarised and circul8tgd lo members. The reports 011 projects sponsored in 2022123 were circulated lo members in tha summèr of 2024 and are tho latest aVaab to them. Funds foi grants to Major Projects are raised each Seplemberloctobèr. and PaKI thereafter, usually on a scheduled basis. These projects undergo a detailed preliminary assessment prior to fonnal adoption as a multi-year Major Project and present annual progress reports lo members. Malor Projacts are nornially 8dopted for a three-year period. with the possibility of extension for a lurther three years. Continuation into a second three-y&ar period requires a detailed evaluation rèport which has proM$ion for the appointmènt of an external osses50r. Organisations fvnded under the Fast Track funding system afe asked to report back six months after rec8iPt of their granL The reports are r(J1ated lo members of NSCCT who donalad to the prDjecl. èln23 This yaar has seen thè continued yrant-maknng to a range of charitable projects through our Major Project$, Pools and Fa51 Track funding stream5. We supported 4 long-lem Major Piolects.. Cutting Carbon N¢)w, the Landwork&rs' Alliance, Labour Rights and Windrjjsh. as describgd below. In addit(on. our otheT funding strearns continued with a strong range of short and medium-temi proj8Ct funding. The Pools 5troam funded 47 projec15 proposed by our six toplc-based Pools (Arts & Education for Change. Economic Justice, Green Planet. Health Justice, Human Righ15 and Peace). This included some new and somè repeat applicants. We made 67 $maller awards for Fast Track projects also proposed by individual members. Cutting Carbon Now Previous annual reports have recorded the continuing implèmanlation of the Cuitlng Carbon Now Major Project. which is being implemented on Network's behalf by the Green Mliancg charity. Now in its 6th and final year it re¢eived a grant of £279,660, just below th& largest arnnt received in Year 2, reftecting our funders, ¢ontinuing anxieties around the threat of dimale change. 115 core objective Is'to support thé UK Climata Change Act 2008. the indep8nd&nl Commitiae on Climate Change e51ablisMed by it. and the implementsllon of the carbon budg&ts recommended by the CCC and adopl&d by govemmenL' Page 3
Network For Social Chang• Charitable Trust Tru8ts0$' Report The prolect'$ modus operandi ts to Tosearch specffic carbon re<luction policies, lo advocate that the Government adopts those in order to help attain the CCC emissions feduction targets and then to delwer those thanges across priority 5e¢tor8 of the economy.. Each annual strategy set btheen the Project COTe group Green Alliance responds to changing circumstances. At the start ol Year 5 and refieng a new UK polibcal ¢ontext- a weakening of the ConservalNe Govemmenfs commitment to Net Zero INZ) measures comblne(I wlh the Labour Party's unveiling of ils 'fairer, greener future, priority - and in Ihe knOwdge that a general election would need to be hdd 8t around the bme the project ended, a decisive shrfi was made in ts strategy.. to now place an èqu81 emphasls on èngagernent with Labour $0 as to try and secure the partls commitinenl before the ele¢b"on to artglerating emissions redu¢tions sufficAent to deliver the challenging 2030 target of 48.10 below 1990. This would have had th8 èffect of extending the influ8nc8 of tho proleGt considerably beyond its 6 year lrfe. A8 al th8 and of August 2024 some of that strategys objectives had been achieved but not others. The Consefvative govemment's commitment to tha ZEV (Zero Emissions VehTdel mandate in December 2023 ropresented the largest projecttrd emissions reduction of any single measura. On the other hand Labour, both before and after the election on 4th July had not m8cle that public commitment lo QAD - 'quants')led aClerated d8C8rbonis*ion'. Its 'mission' to drarnalically ina NZ electriaty, whilst obwousty welcome. cannot on ils own dellveT Sufficient emissions reduction-, policy changes in other sectors particulaty transport will also be required. Whilst the nèw govemmenl has committed to achIeng tt)e 2030 tsrget fc has not reveaked how it will dollver that.. somgthing that the project's final report to fundefs identifies a$ a 'struclural ra)ntradiction'. Landworker8' Allian¢• The L8ndworkers' Alliance (LWA) is a NSCCT Transfomiallonal Major Project. and thi5 year received graftt of £224,436. This wa5 year four af fN8 in the grant period. The PermacuKure ASsoaOn, a registered tharty, acts os charitable partner for the gr8nt. Tha LWA 1$ g not-for-prorrt limited company registered wth Compani85 House. exempt from using Ltd.. and with adopted cooperatwe printyples. The LWA is a member-led union of srnall-5cale landworkers, foresters. growers and fishers. Their purpose ig lo work lor a fvturg wheie everyone can acce55 fresh. healihy. lo¢alty-produc8d. affordab18 food, and a lan<ku$e systam that furthers soclal and ènwronmontal justice. The Transforniatlonal Major Project is intended to give an oryanisation the r8sourc&s to make a step change, 50 f( Can grow effgctively. This has enabled the LWA lo con501idale its operation$ and s•cur its wort by resourcing core Staff and democratic bjnctioning. such as the organisalion's AGM and regional events for rnember5 a(Yos5 the UK. NSCCT'S grant has been used to secure staff rolès, in particular roles in the Operations team and Mernbership and Outreach tèam. The LWA'S overall membership has grown to 3,107. 2,445 of these are landworking members {increase of 4Yo for the yearl, 12% of which are Youth lundgr 30). 662 members are non-landworking supporters (increase of 22%). The LWA'$ social rnedia followng has risèn tr) ov8r 62,OCI) followers acTOS5 plarfoms (increase of 8%). Page 4
Nfrtwork For Social Chango Charitable Trust Trusteès, Report LWA has played a key role in the adoption of Sustainable Farrning In¢entive ISFII standards on soli s. intagrated pest management. agroforeslry and educational acc8s5, and is promoting inntiveS for agrobiodiversity. Through 11$ advocacy, growors with land of Sha OT less are now eligible foT SFI payments fTom the Environmental Land Mana98menl Schème, which will mean many small scale growers will now be abl& to ace9$$ finanrAal support for their biodwersity and Climate efforts. LWA ha8 Continued to support the delopment of education for new entrants to land work, by helplng to design and ¢Jelivef education module5 and prowding resources and support to trainees and apprentices. The LWA launched the 'Horticulture acros5 Four Nations. report. ouuining Ils vis for repladng with agroeGological vegetsbles 20% of the £5.7billion worth of vegetables imported annualy into the UK. The report contains case sludi6s illustrating the enwronrnental, health, sod81. and economic benefi15 that would arise frtsm such a shrfL LWA continues to hav8 a strong prosence intemationalty, working with partners La Via Campeslna. environmental orgs, and famiers on climatg adaptation tools. trade PDIioy, and Tha Loss and Damage Fund. Labour Rights Major Prolect 202&24 was the third year Of this Major Project, which has both charitable and non4*arit8b components. This yearf5 grant for the charitable ¢omponents was £135.000. The project seeks to strengthen support for workers lo assert their rights and thus In a small way help to halt th8 dedine in the sharè of value going lo labour over the last 40 years. The Wiolatlon Tra¢kor dalab8sa has grown entries by 26%, web traffic by 73% and Ihe number of unique u$ers by 42% to 249,000, as well as adding ngw regulators, including the Care Inspectorate and the Local Govemmenl and soal Care Ombudsman. They have also buill15nks with 8 number of trade8 unions and collaborated with Campaigning organisations in a wide range of areas, including envtronmant, housing, high p8y and regulation. Vlo13tion Tracker are in the earfy stages of discussing how their database could be used in procurement to favour fims wth few or no violations. Cays Cradle continued its organising and training work, focusing on the most marginallsed, precarious and poody paid workers and on community groups 5ueh as tenants unions. Muth of th8 activity lakes placè in Scodand where they are based, but they ale also establishing links with 5imi18r activist organisations in the UK and internationally. Now that Cat's Cradle has been reyi$tered as a So)ttish Charitabk Ino)rporaled Organisalion (( has begun the proce55 of diversi.D9 ils lunL1itYJ The Work Rights Contrg came into the project Sn September 2023 with funding to Use artthdal Intelligence IAII lo create a multilingual digitsl hub for employTnent legal infomiation. This is airnèd at migrant workers, but available and levant for all workers, particularfy the m05t vulnerable who cannot gel legal advi. WRC havè now built thè website infrastructsjre for an Al integration thal enables them to translate legal information at 5cal8, and retsin human quality control. They plan to pilot the most promising Al applications. monitor their impact and report on findings to build c8pac4ty for the sector. Windrush Justl¢e Programmo IWJ The Windnjsh Justice Programmg is run by Action for Racial Equallty. 11 aims to support black4ed Windru5h ¢J)mmunity groups to rèach more victims of the Windrush scandal and help process their ctaims more effectively. The core of the programme is providing training, 10015 and consuH8ncy to better equip the oommunity groups lo support ¢omp8n5alion claimants. Page 5
Network For Social Change Charitable Trust Trustees, Report Wlth encouragement from us and others they have bggn taking mora action in the polrcy field ¥nd have employed thair fomier project coordinator as part lim8 pdiey 18ad. They have parb'cipated in Parfiamentary events and meetings wf(h the Home Office. essential lo put pressure on making the compensation scherne for wctims fairer and mora 8asily accessible. However, the funding that has b88n Provided by Paul Ham1 Foundation and others. has proved adequate to fijnd the Programrne so far. This Is due to a combination of circumstances, indudlng findingloss ¢ommunily groups than expected, staff shortages and d?lays in hiring n8w staff. We have thefOre not fund8d them since 2022. and are unlikely to lund thèm again, Sin the Programme will end in 2025. Operatlonal Achievements Thanks lo our experience of meeting virtualty during Covid. arKI hybridly as th• pand&mic aased. we continued lo offer partial virtual conference parbcipation lo members who wovkl otheth8e have been unable, for various reasons, lo attend in person. Wo ha continued and developed our remote working practices such that Dir8Ctors and other rneetings are generally held online, and project assessments may be online rf meeting in peTson is impractical. W8 are very grateful lo the graat IT sklll and patience of oui Admin manager and te¢h team. who continue to work hard to digili$e our operations, and to our volunteer confèrène8 organising teams. We have started to run leth tralning sessions with an extemal provtder, Chris Gaunt, in order 10 8nabl& all members to keep their teth skills up to dale. Our October 23 conference was héld at Hillscourt in the Wesl Midlands. Hi113COUrt wa5 a new venue for us. a tralning and ojnference centre with echoes of WorUay Hall's labour movement associati¢)n$, in that it is owned and operated by the NAsuwf. Our thèmè was 'There 18 no Planet B,. addrèssed by Professor Mike Bemers-Lee of Lancaster Univefsty. long-limg climate change guru, and author of books including one of that name. Hi11sCOUrt is located in the scenic Lickey Hills, where we roamad with dèlight on both free attemoon5. There were 72 iwerson attendees at conference, plu8 six prospectiv& memb8rs. Our February 2024 cOnfenCe was hgld at a favourile venue. Worttey Ha, near Sheffield.. Wortley Hall, known as the Imorkers, ststely homè.. is ownad by members and organisations associated wrth the trade union and labour rnovement. and is thu5 CA)nsidered a fitting vgnug for NeOrk conferences. We offi¢ially stsrted tho conference wf(h a welcome lo Claire A¢kred. our naw NOork Admin Manager who joined us in October, and wf(h a huge thank you to her and Carol Freeman frjr all their work since Tish left. The conference thame this year was "Global Mililari5ation ar the Arms Trade", whi¢h was consdered a fitting themg gIn current events in thè Middl8 East. Ukraine and elsewhere in the worfd. Our $p8aker was Andrew Feinylèin, a global expert on the ams trade. Andrew has been working to expose th& hiddèn finanS behind the global ams trgde since 2001. Andrew was an MP for the ANC in South Africa until ha resign8d dua to the corrupt Selling of unnecè58ary amis lo the unty. We ConnUe to relhink the conditions under which we make Our grants. AdhoTgncg to thg legal requirements goveming NSCCT$ activity is of course our forem051 concem in thi5 regard, we ar• also consuo¢Js that the smaller organisation$ wa fund shoLbld not be burdened WTth overty onerous responsibilities. and we seek solutions that satlsfy both thes8 crit&ria. The new grant conditions for OUT Fast Track prtsjects wore implementsd in the previous year, and Ih05e for standard Pods projetxs. along with rewsed conditions ft)r partner projacts and Major Projects were implemented in 23124. Pag& 6
Network For Social Change Charitable Trust Trustses, Report The Raclal Justice Working Group is by now fimily embedded in Nsccf5 functioning. This voluntary grouping of sorne 25 members mgels several times a year, and indirectly includes other m9mbers who wish lo bg invofvad in particul8r inrtialw&s In this area. Various ad hoc Sub-groups address issues of import-this year, for instsnce, we have lisl¢ned to a sample of our recent grantees. and try lo in¢orporate their view5 of wothng with us into our practices. The inoxtricable link beeen ract81 justi and climate justice has bocome very apparent to US this year and, having leamt from our small gf8nlees th* knnders and funding agencies fail to offer a list of projects in these categories. along with bas1¢ inforniation such as application dales or of gpnts that can be applied for. we have taken the fir51 steps in a project to develop such a list that will be freely available lo all who need it. Speakers this year in Ouf In Conversatlon slot have in(Jud8d Simon Woolley (director, Opgration lack Vote) and Patrick Vamon (adviser trj the Windrush Justice Programmel. Archiving The process of archmng NetWoS papers is a trid(y and Ime-eonsuming one, wth many issu8S to be considered along the way. The case for maknng our re¢ords available to rèsearchers of today and of future generations doès not need restsllng, and we arè fortunate to have perhaps tho UK'S foremost archive of philanthropy-related papers-the Cent r Phil ro niver51t Ken -èager to receive ours. The specialists at this repository Tècognise that NeOrk does things differenty, and knows that other organisations can leam from our practice and our 40 years of expeance. The archiving grouplel consists ol JohrbB. JohnGo and CarolineF. JohnB has been a Netwodo membar since forever. and by delault leads OUT merry band. His inslilutional memory is unrivalled, as Ss his detaId understanding of the variou$ sorts of records we havè accumulated over thÉ years. and whith ofthem should be arthived and which not. JG and CF support him in achiewng thè outcome of the project. Fortunate J8 is to found in Dorset fairty regui8dy, and desplte hls Montlong wail for a major peralion. h8$ been able to sort the non-digilised paper5 resting in a Sto near his home there so we now know what records we are in possession of. Uncertainty about the date of said op was the background lo the groupkl's work last year. and ou151anding issues that require serious eA)nsideration. Such as confidentiality and GDPR, rernain to be r8solved once JB has regained ftA health. The grouplet mel in April 2024 in person to outline the way forward, and in September 2024, JB presented a rtrport to directors for their September meeting, shortly befr)re hi$ opefalion. Directors. observations on JB'S report were minuted, and we wlll continue our work when we can. with these in mind. Membèrship During the year the total m8mbership of the charity was 111 indSvidu81s189 subscrlplions 12023.. 115195). There are fewer SUbriptionS than indlvidual members because som8 eKJuples havè a single subscription. These figures include 18 "Associates" members who have largely ratired from active partdpation bLrt who wish to remabn part of the Neork communty. We conts.nue to rec4uit a¢tivaly through member n8tMorks and word of mouth. Flnancial review Total incomlng resources for tha year ending 31 August 2024 werg £1.764,497, with total resources expanded of £1,747,651. leaving a Surplus of £16,846. Total funds Carried forward are £203,507. NSCCT ha$ no employees - 811 the necèssary work, other than administration is carrled out by th members on a voluntary basis. The Trustees would like t($ pay tribute to this substantial collab¢)rallve voluntsry gffort. Page 7
Notwork For Social Change Charltablo Trust Trustees. Report Funding for Social Change Limited IFSC Ltd) 1$ an aSsoat9d ccmpany with members and 80me Directots in common. NSCCT has the part-time use of the seTvices of the Administrator èmployed by FSC Ltd. The fee trorn FSC Ltd for adrninistralNe seNic¢s this yw was £54.84312023.. £56.36n. Rosorve$ poli¢y It is the policy of the ch8rity to malntsln unrèstricted funds, which are the free reserves of the charity, at a level which aquale5 to approxirnalely 3 10 6 months, unre$lrict8d administrative expenditur8, whith based on th& 2024 accounts arnounls to a figure b&een £24,841 to £49.683. Operating reserves as at the year-end were £62,488. Trustee5 rewew the reserves figure qu8rtedy and may seak to increaselreduce reservgs, If necessary, by modfying the admin fee payable by all members on donations {currenlly 3.5tsAI. The Trustees are not aware of any material uncertainties that would cast doubl on the ¢arftys ability to continue as a going concern. Cpitsli¥ation pollcy Th• Trustees have adoptsd 8 (apitallsalSon threshold for fixed assets of £1,000. Investsn?nt power5 and policy Under the Artid&$ of Association. the tharity ha5 the pwer lo make any inveslmant which the Trustees See fil. It is the nomial practiTr of the charity to pay mmies recefved out as grants and thus not lo build up inveslmants bayond neSSary reserves. Tfuslees review cash holdings quartorfy to ensure that we 8re r1VIng maximum inl8rest Possible. Prinelpal fvnding gourc l fvnd8 are raised by voluntary contsibutions from r9sour¢es avallable to indNidual members of NSCCT. Wo do not acc8Pt funding from extemal sOue$. Incoming funds ara usually allocated to a project 81 the lime of receipt. This year we received income of £40,360 that has yet to be allocated lo specrfic project. These monies are held within a restricted fvnd foT allo¢atton through our usual funding strearns. How Expenditure in the year ha$ supported the key oblectlves of the Charity The objective of NSCCT is to maka grants for charitable aclwities. In accordan¢g wllh our objactis, £1.643,805 194Y.l of expendiiure this y8ar was on grant funding through our three fvnding SIarn$ (Major ProjecA$, Pools and Fast Track Funding). Des¢rfptlon of Princlpal Risks and mltlg•llon mgasurns The Trustees Ly)ntinu8d Ihgir pracb¢e of conducting an ongoing anatysis of risks and have tsken $lep$ as below to mitigate the most signfficant of thes8'_ Loss of key staff. The charity purchases adminlstralNe seNces from Funding for Social Change Ltd under a contract that Is reviewed annually. The Admin Manager employed by FSC Ltd is 5UPPOrted by members who have relevant IT and Admin experience as well as by treelance IT and web support personnel. The Trustee5 have pul in place mpasure5 lo mthgate any loss of key personnel. In 22123 we werg Vgry fortunate that sultaY experienced members look on ltrmporary admin and IT roles when wo had 4 months without an Admin Manager . Wo have bgon lurther strengthening our procedure5 111 the year to August 24 to b8ttei strengthen our capadty to ov&rcome suth an issuo should it arise in future. Page 8
Network For Social Chango Charitable Trust Trustses. Report Professlonal support systems fall or arè irtadequats. Closely tied to the risk of losing key staff, we are reliant on the professional input of indivirlual tnembers who undertakè key admin and IT roles. The rlsk of losing these key. qualified members is signfficant in terms of its impact on the organi5alion. To help mHlge this Tisk. we are requiring FSC lo strengthen ils IT and admin skills. We have also moved onlo stsndard financAal 50fvare Ixerol which greatly reduces the risk 91 financial data being compromised. Our accountants have significant systems exp&itse and have supported us with financial IT deasions and Impments110n. We continue to make changes in this aroa which will make our IT and finandal $yslerns more robust. Los$ of membeTr I los$ of a¢tlvè members. Our membership numbers ale felatively stable, but our members arè agelng. The risk we perceive is that there may becom8 fower activ8 membérs who can undertake the roles upon whid) Neork dends. We havè been aware of this risk for some years. Our continuing mitigation efforts indude a focus on recruiting younger rn&mbers', nurturing and supporting nèw and existlng members in their roles-, developing systems to support member roles-, training for members in taking on roles.. and a focus on member retèntion through our face to face meetings and online social engagement. Eff8ctlvones$ of Grants. All our funding decision5 a made by our members, and wo lak& steps to PTowde training and support in chaTitable grant-maklng. We have a strong due diligence process, but there rernain5 a rfsk that the grants we make are not providSng be51 value for intended roapienls. To reduce this risk. our more experienced members work lo support thosa who are newer to grantthmaking . We ar• a member of the Association of Charitable Foundations IACFI and 8ncourag8 our mernbers to partake of their training opportuntti"e$. All projects in each of our the fvnding streams are required to provide appropriate evaluation reports which arè rèwewed and made availablo to all member& WÈ encourage ongoing discussion of impact. We recognise that some projects will not achieve all their objectives.. for examplè the project Cutting Carbon Now airns at faster UK ¢arbDn budget reductions than is being achièved. BLrt wè consider the projed successfvl in doing everything possible wrfhin its limited ptswgrs. an$ for Future Period$ We wll be DJnlinuing OUT work with the UK Philanthropy Archivè at the University tsf Kent. A small group of members worked with an exiemal website designer to upgrade our extemal publIC1ny website which went INe in April 24. This will feed into ongoing outreach efforts. We are conlinuing to update our grant processing and management ProUreS and systems. Induction and tralnlng of Tru8t••8 NSCCTS policy is that onty active members of NSCCT are appointed as Trusteès so newly appointed Trustees already have a good kn0rfedge of NSCCT'S obj8Ctives and ath'vili¢s. Some ithll already have served as Trustees on other charitabb bodies. There are no outside appointrnents. New Trustees are supported lo undertako training appropriate to their role. D•cl$lon4naking The companws AGM takes place al the spring conference ea¢h year. Mattars rel8d to the running of NSCCT are additionally discussed at th8 biannu81 conference business meèting5 and annual Guardians meetings lo whh all mernbers are invited. All membars are oncouraged to contribute to thg running of the charity. as conference organi5ers, cLrdInal0r$. CDnvènors, pool members. links with speaalisl sub-groups. or as Trusteos. Page 9
Network For Social Change Charitable Trust Trustees, R•port NSCCT membefs are personally act in sponsorTng, assessing, salacts'ng, and ry)mmendlng projects for funding. Oui processes are designad to encourage members to find worthvthile projects, assess their potential 8nd evaluate their achievements. Those without prewous experien¢8 of such an undertaking work ?longsid• a more experien¢ed member. Members work togèthèr lo make robust fvnding decisions yt every attempt to avoid implidt bi88. They SUPFJrt each olhef in the decision-maknng process. Whilst memb5 drive the process, it is clearfy understood that the legal responsibilty for Ihe distribution of funds raised lies wlth the Trustees. Trustee8 follow guidanc8 from the Char Commission on grant-making. particularly where thg organisation app.ng for fvnds 1$ not itself a UK Charity. Our due diligenca process involves Scrutiny by a comrnitEee of six 8xperien¢ed members Ilhe Charity Status Group) as well as by Trustee5. We work dosely with the Directors of Funding for Soual Change Ltd {FSC Ltd) and Oftgn refer proleds to them if we feel that thay are not suitable lo rgcive charitable fvnding. How the chartty o eonstlthted The charlty 1$ constituted as 8 company limited by guar8ntee, reglstered on 15 July 1986. Thg uJrr&nl Artides of As$ooation for the charity wara drawn up by Bates Walls & Braithwarte London LLP and adopted on 21 February 2014. Arrangements o19ottlng the pay of k•y managomgnt The ¢harity has no pald staff. TTUStees are not paid, and al mernbw8 ¢8rry out their work for the ch¥rity on an entirely voluntary basis. statsmeftt of truste8s' respon$ibllldg$ The trustees {who 8re also the diredor5 of Netwoth For Social Change Charitable Trust for thè pijrposes of cornpany lawl are responsible for praparing the lru3lee5' report and the finanrAal stslements in accordance with applicable Saw and United Kingdom Accounting Standards (United lQngdoM Generally Accepted Accounting Practice), induding FRS 102 'The Financial Reporting standard applicable in the UK and Republic of Ireland" The report and accounts have been pr9pared in accordanc8 with the prowsions In the Companies Act 2006 relating to small companie5. Company law requires the trustees to prepare financAal statements for ea¢h financial year. Undor ¢ornpany law the trustees must not approve the finanal statements unless they are satisfied that they gNe a tru• and fair view of the stale of affairs of the charitable company and of thg incoming resources and application of resr)urcès. including its Incom9 and expenditure. of the charitable company for that p19d. In preparing thes¢ financial stalemenls, the trust8es are required to: select suitable accoUnng policies and apply them consislenlly, observa the methods and principles in the Charities SORP.. makejudgemgn15 and estim*as that are reasonable and prudent.. State whether 8ppllcable accounting $tandard5. MprisIng FRS 102 have been foll0vd, subj'ect to any material departures disd05ed and explained in the financTal ststements; and prepare the finanual stslem8nls on the going ¢onc8Tn basis unless it is inapproprlate to presume that the charitable Gompany w1 ntinUe in business. The trustees a spOnsIble for keeping proper accounting records that Can disdose with reasonablg accuracy at any Ilme the financial position of the charitable company and enable them lo ensure that the financial statemeirts comply with the Companie$ Ad 20C6. They are also rèsponsible for safeguarding the assets af th8 charitable company and hence for taknng reasonable steps for Ihe Prevention and detection of fraud and other irregularities. Page 10
Network For Social Change Charltable Trust Tru$tso8' Roport The trustees ara responsibl& for the maintenance and Inlegrtty of the corporata and finanal Informalion induded on the tharitable ujmpantys website. Legislation govornlng the pr&par8tlon and dissemination of financAal 8lalemènts may drffèr from legbslation in other jurist11ctlons. Di$closur• of infomatlon to auditor Each tNStee has taken steps that fhey ought to have lak¢n as a trustae in ordèr to make themselves aware of any relevant audit information and to establish that the charity'5 auditor is are of that information. The trustèes confim that there is no relevant infomiation that they know of and of whid) th know the audftor 18 unawar Small Compani provlslon statsm•nt This report has been prepared in accordanc6 with the small ts)mpanies regime undor the Companies Acl 2006. The annual report was approved by the trustees of the charity on behalf by.. and slgned on its P Horrocks Trustge Pag611
Notwork For Soclal Change Charitablo Trust Independent Auditor's Report to the Members of Network For Soclal Change Charltable Tru8t Oplnlon We have audited the finanaal slalemenls of Nebvork For Social Ch8nge Charitable Tru8t (the 'charity'l for the year ended 31 August 2024. which compris8 the Statement of Finanryal Activities, Balance Sheet, Statement of Cash Flows. and Notes to the Finanaal Stalemenls, induding Summary of significant accounting poliues. The financAal reporting framework that has been appliad in their pr8paration is Unrted Kingdom Accounting Standards. cornprisiny Charlties SORP - FRS 102 The Financial Reporting Stsndard applicable in the UK Hnd Republic of Ireland, 8nd appluble law (Unrted lfjngdom GenaTalty Accepted Accounting Practieel. In our opinion the financial statements.. give a true and fair wew of the stats of the charitys affairs as al 31 August 2024 and of lis incorning resour¢¥$ and application of reSoUrs. including its Income and expenditure, for the year then ended.. have been propèrty prepared In accordanrk vnth Untted lfjngdom Gfrnera1 epted Accounting Practice.. and ha been ppared In accordance wth the requlrements of the Comp8nle$ Act 2(J6. Baslts for oplnlon We conducte(J our audit in accordance with Intèmational Standards on AudThJ (UK) (ISAS {UKI) and applicable law. Our SponSIbl1((vaS under those stsndards are further described in the auditor responsibilities for the 8(Klit of the financial statements section of our report. We ara independent of the charty in accordance with the ethical requiremènls that are relevant to our 8udtt of the financial ststèmants in the UK, including Ihe FRG'5 Ethical Standard. and the provisions av4ilable for 5rnall enlilie$, in the circJJmstance$ set out in note to the llnancial statements, artd wè hav8 fuffilled our other ethieal rgsponsibilTbe$ in accordance wtth these requlremenls. W8 believe that the audit evidence wo have obtained is suffidpnt and appropfiale to promda a basis for our opinion. Conclusion• rèlatlng to going con¢•m In auditing tha financial ststem8nts, we have ¢oneluded that the trustees use of the going con¢em basis of accounllng in the preparatn of the financial statements is appropriat8. Based on the work we have performed. we have not identified any malfrrial uncertaintie5 rel3ting to èvents or conditions that, individually OT colla¢tively, May cast significant doubt on the charitys abllty to conlnu8 as a 90ing con¢em for a period of 81 least tsvelve months frorn when the original financial statements were authorised for K8sue. Our responsibil0S and the responsibilllies of the trustees with respect lo going concem are described in the Televant sectnS of this repo Other infamiatlon The trustees are responsiblo for the othar irrfomialion. The othèr infomiation comprfses the information included in the annual report. other than the finanual statements and our auditorfs report thereon. Our opinion on the financial statements does not ctsver the other infomialion and, except to Ihe extent otherwise 8xplially stsl&il in our report. we do not èxpress any form of assurance condu5ion thereon. Page 12
Network For Soclal Change Charitable Trust Independent Auditorfs Report to the Members of Network For Social Change Charitable Trust In connactlon with our audit of the financ4al slataments. our responsibslty is to read the othér infomialion and, in doing so, consider whether the othèr information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwisè appears to be matsrialty mi551ated. If we Idontify such rnalerial inconsislencles or apparent rnaterial misstslem&nts, we ar& required to detem)Ine whether there is a material misstatement in the financAal Stslements or a material misst8lemenl of the other infomation. If. based on the work we have performed. we condude that th8r8 is a material misstatèment of this other information, we are required to report that fact. Wo have nothing to report in this ragard. Opinlon on other matter prnscribed by tho Companle$ Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the infom)ation given in the Trustees, Report for the financial year frjr whith the financial slalements are prepared is consistant with the fin8n¢ial slatemonts., and the Tru5tse$' Report has been prapared in acmrdancg with appble legal r8quirem•nts. Matt¢r¥ on vthleh we are rgquir•d to rgport by •xception In the light of our knowledge and understanding of the charity and tts entrironment obtained In Ihe ¢ourse of the audit we have not identified material mlsstslemtrnts in the Tru$tee5' Report. W8 have nothing lo report in respect ofthe following matters where the Companie5 A¢t 20C6 requires us to report to you rf, in our opini¢Jn'. adequate a¢u)unting records have not been kept. or retums adequate for our audit have not been received froffl branches not visited by us.. or thè fin8ncial statements aro not in agreement wlth the a¢ry)unting CordS and thms,- or cartain disdosufes of trustees reniunèration sperAfied ty law are not made; or have not received 811 the infomiallon and explanations wa Tequire for our audit. R•Bpon$ibllltl•s of trustO08 A$ explained mofe fully in the Statemgnt of trustees, responsibilities (set out on page 10 and 11). tha truslees are responsiblè for the preparation of the finanoal 5tataments and for being satisfièd that they give a Irue and fair view, and for $u¢h internal control as tha trustees determine is necessary to enable thg preparation of finanaal slalemènts that arè free from material mlsstaternenl, whether duè to fraud or error. In preparing thè financial 518lèmanls, the trustees are re5PDnsibl8 for aSS8S5ing thè charity's ability to eontinue as a going concern. disclosing, as appli¢able, matters related to going concern and using the yoing concern basis of accounting unless the trusteès either intend to liquidate the charity or to caase operations, or have no raalistic alternative but to do so. Audltor rnspon$ibllltl•$ for the audtt of the flnan¢lal $tatsments Our objective8 are lo obtain reasonable assurance about whether the financial statements a$ a whole are frae from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable a55uran¢8 is a high level of assurance, but is not a guaranlaè that an audit conducled in accordance with ISAS (UK) wlll always detect a material misstatement whÉn tt exists. Misslatement5 can arise from fraud or error and are considered material if. Indwidual or in the aggregate, they could reasonably be exp8cted lo inllu8nce th8 economic decisions of users taken on the basis of these finan&1 ststsments. Page 13
Network For Social Change Charftable Trust Independont Auditorfs Report to the Mambers of Network For Social Change Charitable Trust Irregularilles, Including fraud, are instances of nonrycornpliance with la and Tegulations. We design procedures in line wth our responsibilities, outlined above, to delect material misstatèments in respect of irregularities, in¢luding fraud. The extent lo which our pro¢edures are capable of datecting irregUlareS, induding fraud 15 detslled bel¢)w.' We identified areas of laws and regulation$ that could reasonabty be expected lo have a m8tèrial effe¢i on tha fjn8naal statements from our general wmmercial and sector experience and through discussions with the trustees and other management. Wg ¢ommunicated id9ntified laws and regulalion5 throughout our team. and remained alert lo any indirAtions of non-compliance throughout the audit. The charity is subject lo laws and regulations that govem the preparation of the finand81 ststements. induding financial reporting 18gislation. and other companies legislation. The company ts also $ubje¢t to other laws and regulations wherè thè consequences of non&compliance could havè 8 matarial impact on the amounts or disdosures wthin the financial statements, induding ernployment, anii-bribery. anti-money laundering and ¢&rtaSn aspects of companies legislation. Owny to the inherent limitations of an audlL thèra is an unavoidable risk that we may not have detected somo matgrial misstatements in the finaniial statements, evèn though we hav8 properly planned and pèrfornied our audTi in accordance wtth auditlng stanilards. In any audit. there remains a higher risk of non4leteth.on of iTregularilie8, as these may ¢ollu$ion, forgery, intentional omissions. misrepresentations. or the ovèrridè of int8mal cortrols. We are not responsible for preventing non-compliance and cannot be expected to deteci non-Q)mplian¢g wlth all laws and regulakn"on$. As part of an audit in accordance with ISA5 (UK). we èxerclsg profgssional judgemgnt and matntain professional scepticism throughout the audTt. We a150'. Identify and assess the risks of material misststemenl of the financial stslemenls, whelhèr duè lo fraud or error, design and perfomi audit procedures respon51ve to those risks. and obtain audlt evidence that is strficAenl and oppropriata to prowde a basis for our opinion. The risk of not dat8cting a rnater1 misststemenl resulting from fraud is higher than for one resulting from emr. a$ fraud may invc4ve &)IIu8ion. forgery, intentional omissions, misrepresentations. or the oveffide of inlgm81 control. Obtain an und?rstanding of internal control relevant lo the audlt in ordgr lo d9sign audlt procedures that are appropriate in the circumstances. bul not for the purpos8 of exprèssing an opinion on the effectiveness of Ihe ¢harity's internal control. Evaluate the appropriateness of accounting poliae5 used and the 8$On8b1èfte$y of accountbng estlmate$ and related diloSure5 made by the tn15t5. Condude on the appropriateness of the trusteès use of the going cOnrn basis of accounting and, based on.the audit evidence obtained. whether a matertal uncgrtainty exists related to events or nditions that may ca51 signtficant doubl on the charity's ability lo continue a5 a going concem. If wa conclude that a material uncertalnty ests. we are required lo draw attention in our auditorfs report lo the related disclosures in the financial $18lements or. If such disclosures a Inadequate, to modify our opinion. Our conclusions are based on the audit ewden¢e oblwned up lo the date of our audilorfs report. However. future events or conditions may cause the charity to cease to continue as a going concam. Evaluate the ovarall presentation. structure and c¥)ntent of the financi818lalements, induding the disclosures, and whelhgr the financial statements represent the underfying transactions and èvents in a manner that achieves fair pres8nlation. Pag8 14
Network For Social Change Charitable Trust Independent Audltor's Report to the Mambers of Notwork For Social Changé Charitabl6 Trust Obtain sufficient approprfat8 3tKIit evidence regaiding the finanual infomalion of the entities or business acbwties wrthin the charity to expre55 an opiniDn on the financial statements. We are responsible for the direction, supeNi$ion and perfom)ance of th¥ charity audit. We remain solely responsible foi our audit opinion. We mmuniCle with those charged with governance regarding, among other matters, tho planned scope and liming of thè 8udit and significant audtt findings, induding any significant deficjendès in internal control that we identsfy during our audit. U$• of our roport This repurt is madg solety lo the ch8ritat4e companls trustees, gs a body, In accordance with Chaptér 3 of Part 16 of the Companies Act 2006. Our audit worf( has been und8rtaken so that we might state lo the charftls trustees those matters we are required to state to them in an 8udS10rf$ report and for no othér purpose. To the fullest extent pemirtted by law, we do not accept or assume responsibilty to anyone other than the charitsble company and its trustees as a body. for OUT audll work, for this report, or for the opinions we have fomied. Catherine Willlams FCA DChA {Senior Stslutory Auditor) For and on behalf of Westcotts ISW) LLP, Statutory Auditor 47 Boutport Street B8mstaple Dgvon EX31 1SQ Page 15
Notwork For Social Change Charitable Trust Statemont of Finanelal Actlvftieg for the Year Endèd 31 Augu8t 2024 Ilncluding Income and Exponditure Account and Statomont of Total Rocognised Gains and Lossos) Unrestricted funds R•$trieted fund$ Total 2024 Totsl 2023 N¢)te Income and Endowm•nts from: Donatlons and legacies Inveslrnenl incomo 767,631 4.703 992.163 1.759,794 4,703 1.742,264 3,976 Totsl Income 772,334 992,163 1,764,497 1,746,240 Expenditur¢ on: Charitable actiwts 40.073 1,007.578 1,747,651) (1,769,819 1,769,819 Total expenditure 740.073 1,007,578) 1,747,651 Net incomellexpenditure) Transfers beNYeèn funds 32.261 5,551 {15.415) 5.551 16,846 123,579} Net movement in funds 26,710 19.8641 16,846 (23,5791 R•concilia1ion of funds Total funds brought forward Totsl funds carried fward 16 123,007 186,661 210,240 186.661 90,364 113,143 203,$07 A]1 of th• chaTty's actNitie5 derwe from oontinuing operalions during Ihe above perh)ds. Th& funds breakdown for 2tr23 is shown in note 16. The nolos on pag8s 19 to 30 form an integral part ol thèsè finanaal stal•m8nts. Page 16
Notwort( For 8odal Chango Charltable Trust IRegl8tratlon nurnber: 02037412> Balan¢e Sheet a8 at 31 August 2024 2024 2023 D8btors Cash al bank and In hand 13 14 19,911 244.564 264.475 3.852 191.522 195,374 Creditors: Amounts falllng due wmhln one year 15 {60.9681 203,507 18,713) 186.661 Funds ofth• charltr. Rtri¢ld In¢om• funds Restricted funds 113,143 123,007 Unr•strf¢t•d kneome fund Unrg5trided fund¥ 63,854 Total funds 16 203.$07 186,661 Th858 flnandal statements have been prepared In accordance th th8 5P8clal provlsions rdatlng to compani•s subjsct to th8 small Companies regime within Part 15 of th• Companias Aci 2006. The fln8ngI ststemonts on pages 16 to 30 wore gpwove41 by the trLtst885. and authryi for i5sue on 11.12125 aThJ signed on thr leh6 by. P Horro Tru*eg The notes on 19 to 30 fcrfm an integral part ofthese finaal sttsn8nts. Page 17
Notwork For Social Change Charitable Trust statsmont of Cash Flows for tho Year Ended 31 August 2024 2024 2023 Not• Cash Ilows from op•r4tlng actlvltles Net cash incomellexpenditurel 16.846 123,5791 Adluslrngnts to cash Ilows from non*ash ltsms Investment income (4,703) 12,143 13,9761 127,555) w01n9 ¢aplt•l adjustments Ilncreaseydecrease in debtor8 Increasel(deuease) in creditors Net Cash flow5 from operating actsvthes 13 15 116.0591 52.25S 13,164 114.8931 48.339 129.0841 Cash flows from Inv•sting actlvlttBs Interest receivable and similar income 4,703 3,976 Net incraas&lldecrease} in cash 8nd cash equivalents Cash and cash equNalenls at 1 Sopt8mbar Cash and cash equivalents at 31 August 53.042 {25,108) 216,630 191.522 244.564 191,522 AJI ofthe cash )lows are de¥8 from conynulng operations during the abov8 tsyo perfods. Th8 notes on pages 19 to 30 form an integral part of these financial stalemerts. Page 18
Network For Social Chango Charitablo Trust Notes to tha Flnan¢lal Statements for tha Year Ended 31 Au9ilSt 2024 I Ch•rlty status The ¢harity is limf(ed by guarant88. in(>Jrporat8d in England and Wales. and Consequent does not have share capital. Each of the truslees is liable to contrlbute an amount not exceeding £1 lowards the assets of the charity in the event of liquidation. The address of ts registered officé is.. 2&28 Southornhay East Exeter Devon EX1 1NS 2 A¢¢ountlng policies Summary of 8lynlficant accountlng pollcies and kay accountlng e¥timatos Tha principal acUnts.nY policies applied in the preparallon of these financi81 statements are set OLrt belDw. These policie$ have been cr)nSL51w)tty applied to all thè years pres8nt8d, unlw otheise st*8d. statsmènt of compliance The financial slatemants have been prepared in a¢cordance with A¢counting and Reporting by Charibes.. Statement of Reeommended Practice (applicable to charities preparing their accoun15 in accordan with the FinancAal Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 (issued in October 20191- {ChaNties SORP IFRS 102}), IhÈ Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) and the C¢)mpanie$ Act 2006. Basis of prgpar•tlon Nelwork For SocAa5 Cln9? Charitable Trust meets the definTiion of a publ bènefit entity under FRS 102. A$$$ts and liabilities are inrtialty recognised at historical ¢05t or transaction value unltsss Othe1$e staled in the rèlevant accounting policy notes. The financial statements 8ra prepared In sterilng WlCh the fun¢Uonal GUenCY of the charity. Golng concern The Irust88s consider that there are no matsrial uncertainties about the charitys abillty to DJntinu& as a going concem nor any signific¥nt areas of uncartainty that affect the carrwng value of assets held by tho charity. Income and endowments All income is recognised on(8 the chartty ha$ ontitlewH&nt to the income. h 1$ probable that the Incorne wlll be recelved and th8 amount of the incomè receivab can be measured rgliably. Pag8 19
Network For So¢ial Changa Charitablo Trust Notss to the Financial Statomonts for the Year Ended 31 August 2024 L)onations and 1gga¢i•s Donations are reo)gnised when the charity has been notffied in wribng of both the amount and setuement dale. In the 8v8nl that a donation Is subject to Cwdthons that require a level of Perfomance by the ¢harty before the charTty is entf(led lo the funds, the income is def&rr8d and not recognised until either th0$9 ¢ondillons are fijlly met, or the fuyfilment of those conditions is whol within the control of the charity and it is probable that these condTbons will be fulled in the pOrtIng period. Legacy gi a recognisèd on a case by case basis follcming the grant of probate when the adminislralorlexecutor for the èstatè has Gommunicaled in writing both the amount and $¥W¢ment date. In th8 event that the gift Is in th• forni of an asset other than cash or a finan¢i81 asset tradéd Ctn rècognised stock exchange, recognthon is subject lo the value of the gfft being reliably measurable th a degree of reasonat4e a¢xura¢y and the liue to the as$et having bean transferred to the tharity. InVestrtt Incom8 dends are recognised once the dmdend haB been dedared and nofjfKalion hgs bgen fgoeived of the dmdend due. Expendlturn All expenditu Is rècognised once there is a legal or construdlvè obllgatlon to th8t expendfture. it is probable setuement is required and the amount can be measured reliab. Al costs a allocated to the applicable expenditure hèading that aggregate similar costs to that catègory. Whèrè costs cannot be d1CtlY attributed to particular headings they have been allocated on a basi8 consistent with tha usè of reSoUrs, with central staff costs allo¢ated on the basis of lime spent, and depredation thargas allocated on the porb.on of trè assef s use. Other support costs are allocated based on the spread of staff eosts. Chai?(able aetivlties Charttablè expenditure comprlyes those costs Incurred by the charity in the delNery of its actiwtses and se¢@$ for its beneficiaries. It indude5 both costs that can be alk)cat8d direct]y to such adiMtie5 and those costs of an indiraet nature necessary to support them. Gxantprnvlslons Provisions fof grants are made when the intention lo make a grant has b8en communicated to the recipient bul there is uncertainty about either the liming of the grant or the amount of grant payable. Support costs Support costy Include central fiJnGtions ar have been allocated Io 8ctivty cost cataqorigs on a basis consistent wth the use of resources. for example, allocating property costs by floor areas. or p8r capita. stsff costs ty the tsme Spent and other wsls by th8iT usage. Taxation The tharity is considered lo pass the tests set out in Paragraph 1 Schedule 8 of the Finance Acl 2010 and ther8fore it meets the deffnon of a charitable mpaTry for UK corporation lax purposes. Accordingly, the ¢haTity is polenlialty exempt from tsx8tion in respect of income or capital gains received within categories cOVed by Chapter 3 Part 11 of tha Corporation Tax Act 2010 or Sedion 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exdusivaly to charrtabie purrM)se$. Page 20
Network For Social Change Charitable Trust Notes to the Financlal Statements for the Year Ended 31 August 2024 Cash 8nd ¢a$h èquivalonts Cash and cash equivalents ¢omprise cash on hand and call deposits, and other short-l&m highly liquid investments that are readity convertlble to a known amount of cash and are subject to an insl9nificanl rfsk of change in value. Fund strucbjre Unrestricted InMe funds are genaral tunds that are available for use at the trustees discretion in fiJrtheran¢è tsfthe objectives of the charity- R$stricted income funds are those don8t8d for use in 8 partic#Jlar area or for specific purposes, the use ofwhth 18 r851ricted lo that area or purpose. Financlal Instruments c1&1¢•bon Financial assets and finanual liabli ttias are Tecognised when the charity becomes a party to the contra¢tU81 provisions of the instrument. Financial Ilabililie5 and eqtmty instrumen15 a da55ified aeeording lo the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual intere51 In the assets of the charity aft6r deducting all of f(s liabilities. Récognition and measur•ment All finanual assets and liabilities are initially measured al transactlon price (Induding transaction COSts), ex(*pl for those finan(xal assets dassffied as at fair value through profft or loss, which are initsally measured at fair value (which is nomally the transaction price axduding transaction costs), unless thé arrangement constitutes a financing transaction. If an arrang&menl constitutes a financing transaction, thè financial asset or financial liability is me8$ured al the present value of th9 fvbjre payYnen15 discounted at a market rate of interest for a simli ar debt inslrumant. Finanaal as5els and liabilitEs are onty offset in the statement of finandal posrtion en. and on wn there exists alggally enforceable right to S81 off the recognls8d amoLsnts and the charity intends either to Sett on a net basis. or to iealise the asset and setue the liabdty simultaneou$ty. Financial assets are derecognised when and only whèn al the ¢ontraclu81 rights lo the Gash ftows from thè financial a55el expire or are settted, b) the charity transfers to another party substantially all of the risk$ and rewards of oJwnersMip of ihe financial a558t, or cl the Charity, d&spite havlng retained some. but not all. significant risks and rewards of ownership, has transferred control of the as5el lo another party. Finandal babilities are derocognised onty when the obllgation specrfied in the ¢onlrad is discharged. ancetled or oxpires. Page 21
Network For Social Change Charitabla Trust Notes to the Finanelal Statements for the Year Ended 31 August 2024 3 In¢om• from donations and lega¢ies Unre$trlet•d funds Re8trlcted fund Tolal 2024 Donations L0gacA85 Grft reclaimed 695,973 1,033 70,625 876,C69 1,572.042 1.033 186,719 116,094 992,163 767,631 1.759.794 Unyeytrwcted fund$ Restricted funds Total 2023 Donations Grfi aid reclaimèd 579,608 129,350 941.843 91,663 1,033.306 1,521.251 221,013 1,742,264 708.958 4 Inve8tm•nt Income Unrnstrlctod fund# Total 2024 Interest raceivable on bank deposits 4.703 4.703 4,703 4,703 Unmtrictrd funds Totsl 2Q23 Inlergst receivable on bank deposits 3,976 3,976 3.978 3.976 Page 22
Network For Social Changa Charitable Trust Notas to the Flnancial Statoments for the Year Ended 31 August 2024 S Expendithre on Charitable a¢tlvltl¢s Unrestrlctsd fund$ Rèstrl¢ted funds Total 2024 Charitable activities Grant fvnding of activities Allocated support costs 46,S98 688,994 4.481 52.767 954.811 99,365 1.643.805 4.481 740.073 1,007,578 1.747,651 Unrestrietod fund• R•$trlctsd funds Totsl 2023 Note Charitable actwitias Grant fvnding of actNrfres Allocated Support costs 96,133 603.418 4,056 703,607 67,522 998,6 163,655 1.602,108 1.066.212 1.769,819 Pagè 23
Network For Social Change Charitable Trust Notss to the Financial Statements for tho Yèar Ended 31 August 2024 6 Analy$i$ of support costs Support costs allocated to ¢harIlab activities Total 2024 Totsl 2023 Audit fees Oth8r office costs 4,307 174 3,373 683 4,461 4,056 7 Grant-m•king Anatysls of grants 2024 2023 An•lysls Grants to inslitutson5 1,M3.805 1,602,108 8 Not incomingloutgolng rgsourceg Net incominglloutgoingl resourc9$ for the y8aT include.. 2024 2023 Audit fees 4,307 3,373 9 Trustees remun•ration and expèn$•s No tru$t9es, nor any per5Qns nn9Cted WTth them, have re¢eN•d any remuneration from the charlty during the year. No trustees havg r8C8ived any reimbursèd expenses or any t)ther benefits from the charity during the 10 Staff Costs During the year. the o*arity had no 8mployee5 {2023: Nil) 11 Audltors. remun•rnllon 2024 2023 Audll fees 4,307 3,373 Page 24
Notwork For Social Chango Charitabla Trust Notes to the Financlal Statsments for the Yoar Ended 31 August 2024 12 Taxation The charity 18 8 rngistered charity and is therefore exempt from taxation. 13 Dèbtors 2024 2023 Trade ¢Jebttsrs PrgpayTnents Other debtors 9.514 10.397 19.911 3.852 14 Cash and cash equivalents 2024 2023 Cash al bank 244.564 191,$22 15 Creditors- amounts falling due withln one year 2024 2023 Trade croditors Other croditors ruals 614 56,394 3.960 5.100 3,613 8,713 fjo,8 Pagè 25
Network For Social Change Charitablo Trust Notes to the Financial Statomants for the Year Ended 31 August 2024 16 Fund8 Balance at Balance at 31 August 2024 S¢ptsmber 2023 Incoming ResourceB ro$our¢es exp•nd•d Transforn Unrnstricted funds G•n•ral General Funds Arts & Education for thange Economic justice Green planet Hoamh & wellbeing Human rtghts Peace Unallocatèd 63.654 92.681 151,0791 142.7681 62,488 92.100 87,500 98.000 56.400 113,sfKI 127,300 104,853 772,334 {111,4561 (93.7451 1141,949) 194,736) 1150,468) 196.640) 19,356 6,245 43,949 36.968 130,6601 176.9771 15,551) 27.876 90,364 63,654 40,0731 Restrlelèd funds Fast track funding Cutting carbon Landwort8rs alliance Labour Rlghts Conference Donation5 to be all¢xat8d 313,475 290,863 228.787 128.944 30.094 {318,675} {289,747) 1224.2361 1134,900) 139,8201 12001 992,163 (1.007,5781 5,200 1,700 80.947 83.763 9,551 10,019 975 725 40,360 15.OCQ 9,001 30,350) 5,551 9.810 123.007 113.143 Total fund$ 186,661 1.764.497 11,747,651) 203,507 Page 26
Network For Soclal Change Charltable Trust Notes to the Financlal Statements for the Year Ended 31 August 2024 Balanea at Balance at 31 AuguBt 2023 8eptsmb•r 2022 Incoming Resour¢¢s sourc98 gxpend•d Transf•rs Unr8strictod fund¥ General General Funds Arts & EdLtcation for change Economlc lustice Green planet Heallh & welbeing Human rights Peace Unallocatéd 56.077 81.743 172,4161 13,750) 83.654 96.658 107.188 136,500 76.319 102,295 93,933 18.300 1123,584) 179,476) {113.274) 1106,3281 1109,8491 197.9461 (734 1703.60n 26.926 {27.712} (23.226) 4,013 117.566 3.750 58.077 712.934 63,654 Ro$tricted funds Fast tra¢k funduig Cutting ¢arbon L8n(Morkèrs alliance L8bour Rights Windrush Juslicg Conferer Dtsn8b"ons to be allocated 7,112 87.316 289.650 283,937 185.775 119.363 111.313 28,214 15,054 1,033,306 1296,782) 1291,556) {185,775) 1143.1431 1112.5631 13e,413} 80,947 23.505 1.250 1,250 975 8.924 25,306 1S2.163 725 40,360 1.066,212 123,007 Total fund$ 210,240 1.746,240 1,769,819 186.661 Page 27
Network For Social Change Charitable Trust Notes to the Flnanclal Statements for tho Yaar Ended 31 August 2024 The spee1r purposes forwhich tha fijnds are to be applled are as foll$.. Fast Track Funding For a variety of smalks¢ale projgcts introduced by NSCCT members. Cutting caOn Now {CCN} Cutting Cart)on Now. CCN airns lo support Ihg Cllmate Change Act 2008, thp independent Committee on Climate Change {CCCI established by Tt, and tha implementstion of the carbon budgets the CCC racommends. Labour Rights ILRI A group of projects addre88lng justice for workers and protectlng labour rights. Violation TTacker blows the whistle on corporate malpractice., Cars Cradle prowd&s worker training and edu¢xlion', Working Familiès carnpaigns on the EMIOyMent Bill. Landwork•rs' Alllanco ILWA) A member-led OTganisation of famiers, growers, forestors and lanaSed workers, the L•ndworkgrs' Jliance works for a fvture where everyone can access local, heaNhy and affordablè food. and lan&use system that fijrthers socAal and envirtsnmentsl justi. Don*tion$ to bo Allocated This is in respect of donations that have been Teceived for a specific proja¢t. but the donor(sl 18 yet to d¢cide on which projectls) the money should be allocated. Th&se donations may be drawn down over period of tirne a5 the donorl81 s88 fft. The TNsts9$ consid8r that 5uffirAent rg$ources are held in an 8ppropriate fomi lo enable the funds to be applied In aco)rdance with any restrlctions. Transf•r b•tween Fund• Charitable donations are pledged for the genaT31 purposes of the CharTty. however, a donor can Indicate a preference of Ihe proportions de5ignalèd to spacific pledges. However, 8$ no indimdual knows what has been pledged to a specific pool, there aTe generally mismatches belween the amounl pledged and the amount requid. At this point, the trustees ar& able to d8signale money between pools. 17 Analysi5 of net assets bètsv•8n funds UnTestri¢ted funds G•narnl Total funds Restrlctsd at 31 August fund$ 2024 CurTent assets Currant liabilities 151,332 (60.6) 90,364 113.143 264.475 60,968 Total net a$sg1$ 113,143 203,507 Page 28
Network For Social Change Charitable Trust Note8 to the Financlal Statements for the Year Ended 31 August 2024 Unrestrictod funds Gonoral Total funds at 31 August 2023 Restricted fund$ CulnI assets Current liabilits'es 72,367 8,713 63,6S4 123,007 195,374 8,713 186,661 Total net assets 123,007 2024 Matgrfal Institutlonal Grants Charlty No. Organlgatlon The Green Alliance Trust Permaculture Association" Violation Tracker- via Good Jobs First Cars Cradle Education and Organising SCIO Work Rights Centre Sand Dams Worldwide Rainforest Foundation UK Foundation for Integrated Transport" Endless Medical Advantage Environmental Investigation Agency UK Thelma Matilda Alves Foundats"on' Environmentsl Law Foundation Peace Direct Brighouse West yorkshi Area Quaker meeting Independent Diplomat BASIC (British American Security Infomialion Council) Equal Education Chances Open Trust- Charitable Trust for openDemocracy APPEAL The Movernents Trust. Families Outside" Turkey Mozaik Foundation" People's Economy Finance Innovation Lab Action on Empty Homes THIRST, The International Roun Table Disability Law Servi Praxis Community Projects British Friends of QCEA" Participation and Practice of Rights Project Lld Egmonl Trust Restorative Juste Council" Firefly Intemats'onal 1045395 1116699 345,552 207.9S8 50,000 50,000 35,000 25,000 25,000 25.000 20,000 20,000 20,000 19,800 19,700 19,700 19,700 19,700 19.690 19,196 19,000 19,000 19,000 19,000 18,749 18,749 18,749 18.749 18,749 18,640 18,640 18,515 18,188 18,000 17.850 SC052364 1165419 1094478 1138287 1156363 1194717 1182208 1192780 1045918 1123241 1191435 1125699 1001081 1180869 1086404 1144162 1194447 SC025366 1174968 1166046 1165269 27697R (CBS) 1189499 280805 1078945 293776 NIC103673 1186451 1097969 SC028744 Page 29
Network For Social Change Charitable Trust Notes to the Financial Statements for the Year Ended 31 August 2024 2024 Materfal Instftutional Grants Chaflty No. Greater Change Foundation 1188164 North Yorkshire Music Thgapy Centre 702533 Artis FoundatK)n 1174635 Common Wealth 1185967 Positive Youth Foundation 1145284 Earthwatch Europe 1094467 Intemiission Youth Theatre 1190391 The Big House Theatre Company 1151106 Pemiaculture Association {Britsin) 1116699 Permaculture Association, grant was approved for Landworkers Alliance Restorative Justice Council, grant was approved for Therapeub'c Productions . Thelma Matilda Aives Foundation, grant was approved for ADHD Babes CIC The Movements Trust, grant was approved for Common Languages Familie5 OLrtside. grant was approved for COPE {Children of Prisoners Europe) Turkey Mozaik Foundation. grant was approved for Sivil Toplum icin De5tek Vakfilsupport Foundation for Civil Society ' British Friends of QCEA, grant was approved for Quaker Coun¢il for European Affairs ' Foundation for Integrated Transport, grant was approved for Transport Action Nerk 17,540 17,481 17,480 17,480 15.500 15.117 12.500 12,5C4J 12,032 18 Related party transaction8 During the year the charity made the following related party transacthM$'. The company is associated with Funding for Social Change Limited, with which it has trustees in ¢ommon. The administrative services provided by Funding for Social Change Limited for the year ended 31 August 2024 tr)talled £54,84312023.' £56,367). During 2023 there was an additional £10,000 transfer due lo an adjustment from previous years. The amount due to Funding for Social Change Limited at 31 August 2024 was £10,90312023.' £3.852 due from Funding for Social Change Limited). During the year the company received, in lotal, donations from its trustees of £146,300 12023.. £166,100). Page 30