REGISTERED CHARITY NUMBER: 326882
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
FOR
THE I S A CHARITY
Crowe U.K. LLP
4th Floor
St James House
St Jarnes Square
Cheltenhatn
Gloucestershire
GL50 3PR

THE I S A CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
Pagè
Reference and Administrative Details
Report of the Trustees
Indèpèndènt Examinèr's Rèport
Statement of Financial Activities
8alance Sheet
Notes to the Flnanclal Statements
7 to 11
Detailed Statement of Financial Activities
12

THE I S A CHARITY
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 JANUARY 2022
TRUSTEES
Mrs MB Paice
Mrs AP Kent
C L Grinling
R Paice
T Slack (appointed 3.10.221
PRINCIPAL ADDRESS
2 The Mansion
Northwick Park
Blockley
Moreton in Maish
GL56 9RJ
REGISTERED CHARITY NUMBER 326882
INDEPENDENT EXAMINER
Growe U.K. LLP
4th Floor
St Jarne5 House
St Jarnes Squaie
Cheltenham
Gloucestershire
GL50 3PR
SOLICITORS
Lawrence Stephens Solicitors
50 Farrington Road
London
ECIM 3HE
BANKERS
Handelsbanken
35 Hays Mews
London
W1J SPY
Page 1

THE I S A CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2022
The trustees present their report with the financial statements of the charity for the year ended 31 January 2022. The
trustees have adopted the provisions ol Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the
UK and Republic of Irel8nd {FRS 1021 leffective 1 January 20191.
OBJECTIVES AND ACTIVITIES
Objects
To apply the capital and income of the trust fund lo the benefit of such charitable purpose or charitable institutions or
charitable foundations within the United Kingdorll in such a manner and in such proportions as the trustees may from
tirne to tirne in their ab501ute discretion determine, provided that the tIU5tees tnay during such peiiods as is allowable by
law accumulate any sutplus income by investing the same and the resulting income to and as part of the trust fund.
Activitles and aehievements for th8 year
In planning our activities for the year. we kept in mind the Charity Commission's guidance on public benefit al our
trustee rneetings. During the year, the charity continued to sponsoi a nutmber of projects including a Cur8torial
Fellowship ftsi young curators and an inib"ative to support ex-offenders, tts secure sustainable employment.
In addition, the charity supported young furniture makers as well as leading bespoke foofvlear designers, to sustain,
grow and develop their practice.
Students and disadvantaged members of society have benefited from the support provided through grants and
campaigns funded by the charity. The activities have enabled the beneficiaries to a¢￿sS and make the first steps
towards sustainable employment. The trustees intend for the charity to continue to support the same beneficiaries in the
future. They are curiently working on developing a substantial new Fund lo support new thinking and innovation in
regional Museurns through the introduction of an Independent cuialor. The Fund will be launched in February 2023 and
it will run for a 2 year programme.
FINANCIAL REVIEW
Financial position
Totsl incorne for the year wa5 £53,181 12021. £46.4291 primarily by investment returns. Total expenditure was £52.131
12021". £89,949) ol which £32,681 12021."£48,5141 was grants and donations.
Investment poli¢y
The Trustees, Act 2000 now confers the charity's investment powers. The charty airns lo keep the rnajorily of its funds
in interest bearing bank accounts. and not lo invest in any high-risk fund5
Reserv￿ policy
It is the intention of the trustees to build up the trust fund with a view to establishing a significant charitable foundation
when sufficient funds are avai18ble. The funds at the year-end were £1,510.62012021.. £1,505.4551.
Going concern
The charity has cash resources and no requirement for external funding. The Trustees have a reasonable expectation
that the charity has adequate resources and that there are no material uncertainties about the charity's ability to
continue IN operational existence for the foreseeable future. They continue to believe the going con￿rn basis of
awounling appropriate in preparing the financial 51alernenls.
PLANS FOR FUTURE PERIODS
The Trustees and management intend to continue with the current activities, providing grants to support travel and
international developrnent. supporting professional development in the visual arts and carnpaigning for the employment
of ex-offender5.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Risk management
The trustees actively review the major risks laced by the charity on a regular basis, and having examined operational
and business risks confronting it can confim that they have established systems to mitigate the significant risks.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The ttuslees are responsible for pieparing the Report of the Trustees and the financial statements in a¢wrdance wrfch
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Aecounting Practice).
Page 2

THE I S A CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2022
STATEMENT OF TRUSTEES. RESPONSIBILITIES- continued
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and
application of resources. including the incorlle and expenditure, of the charity for that period. In preparing those financial
statements, the trustees are iequiied to
select suitable accounting policies and then apply them consistently.,
observe the methods and principles IN the Gharily SORP..
rnake judgements and eslirnales that are re850nable and prudent.,
prepare the financial statetnent5 on the going concern basis unless It is inappropriate to piesume that the charity will
continue in business.
The trustees are responsible for keeping proper accounting records which discjose with reasonable accuracy al any
lirne the financial position of the Charity and to enable Ihern lo ensure that the financial slalemenls comply wlh the
Chaiities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the piovisions of the trust deed. They are
also responsible for safeguarding the assets of the chaiity and hence foi taking reasonable steps lor the prevention and
detection of fraud and other irregularities.
The Tru$lee5 are responsible for preparing the Trustees, report and the financial ststemenls in accoidance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Aecounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and
application of iesources of the charity for that period. In prep81ing these Iinancial st8tements. the Ttustees are iequiied
1. select suitable accounting policies and then apply Ihern consistently.,
2. observe the methods and principles in the Charities SORP.,
3. Tnake judgements and accounting estim8tes that ale reasonable and piudenl..
4. State whether applicable UK Accounting Standard5 have been followed, subject to sny material
departures disclosed and explained in the financial statements., and
5. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will
continue in operation.
The Ttustees are responsible foi keeping proper accounting recoids that are sufficient to show and explain the charity's
transactions and disclose with reasonable accuracy at any time the finanaal position of the charity and enable them to
ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations
2008 8Nd the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and
hence for taking reasonable 5tep5 for the pievention and detection ol fraud and other iiregularities.
It is the charity's intention to continue to make grants in the areas of the arts, education, travel and similar charitable
causes.
2911112022
Approved by order ol the board of tiustees on ............................................. and signed on its behalf by..
Mrs AP Kent- Trustee
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE I S A CHARITY
Independent •xamrn8r's report to thè trustèes of Thè I S A Charity
I report to the Iruslees on my exarninalion of the accounts of The ISA Charity for the year ended 31 January 2022 which
ale set out on pages 6 to 11.
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 wight state to the charity's trustees those rratters l am
required lo state lo them in an independent examiner's report and for no other purpose. To the fullest extent permitted
by law, I do not accept 01 assume ie5ponsibility to anyone other than the chaiity, the charity's mernbers as a body and
the charity's trustees as a txjdy lor my independent examiner's work, for this report, or for the opinions I have formed.
Rèsponsibilitiès and basis of rèport
As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Chaiities Act 2011 I'the Act'i.
I report in respect ol my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in
carrying out my exarninalion I have followed all the 8pplicable Directions given by the Charity Commission under section
14515llbl 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
exarnination 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 Reportsl Regulations 2008 other than any requirement that the accounts
give a'ttue and fair view, which is not 8 matter wnsidered as part of an independent exarninalion.
I confim there are no other matters to which your attention should be drawn to enable a proper
understanding of the accounts to be reached.
Guy Biggin FCCA, ACA
Crowe U.K. LLP
4th Floor
St Jarne5 House
St Jarne5 Squaie
Cheltenham
Gloucestershire
GL50 3PR
Date".
29 Novernb8r 2022
Page 4

THE I S A CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JANUARY 2022
2022
Unrestricted
fund
2021
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations
5,205
1,917
Investment income
47.978
44,512
Total
53.181
46,429
EXPENDITURE ON
Support costs
20,280
41,435
Charitsble activities
The Exceptionals
Chaileston Trust
Holboume Museum
Craft Council
Other Grants to Institutions
Atelier Groves
Foundling Museum
FCO Designs
Grants to individuals
Cotswold Food Bank
4,610
5,943
9,000
9,000
7,500
11,158
5,010
5,000
4,500
5,000
2,930
4,800
1,913
4,000
Total
52.130
89,949
Net gainslllossesl on investments
4,115
11,1151
NET INCOMEIIEXPENDITURE
5,166
144,6351
RECONCILIATION OF FUNDS
Total funds brought forward
1,505,454
1,550,089
TOTAL FUNDS CARRIED FORWARD
1,510.620
1,505,454
The notes form part of these financial slalernenls
Page 5

THE I S A CHARITY
BALANCE SHEET
31 JANUARY 2022
2022
Unrestricted
fund
2021
Total
funds
Notes
FIXED ASSETS
Inve5trnents
1,043.013
1.100,533
CURRENT ASSETS
Cash at bank
468,507
408,804
CREDITORS
Amounts falling due within one year
10
19001
13,8831
NET CURRENT ASSETS
467.607
404,921
TOTAL ASSETS LESS CURRENT LIABILITIES
1,510.620
1,505,454
NET ASSETS
1,510,620
1.505,454
FUNDS
Unrestricted funds
1.510,620
1,505,454
TOTAL FUNDS
1,510,620
1,505,454
The financial statements were approved by the Board of Trustees and authorised for issue
291.1112.Q22
and were signed on its behalf by..
on
AP Kent- Trustee
The notes form part of these financial slalernenls
Page 8

THE I S A CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
ACCOUNTING POLICIES
Basis of p￿ParatIOn
The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in
accordance with the Gharilies SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of
Recornmended Piactice applicable to charitie5 pieparing their accounts in accordance with the Financial
Reporting Standaid applicable In the UK and Republic of Iieland IFRS 1021 (effective 1 January 20191,, Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the
Charities Act 2011. The financial staternents have been prepared under the historical cost convention, with the
exception of investments which are included al market value. as modified by the revaluation of certain assets.
The ISA Chaiity is an unincorporated charity (charity number 3268821 registered in England and Wales. The
registered address is E4 Albany, Piccadilly, London, W1J OAR. The financial statements have been prepared to
give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the extent required to provide a 'true and tsir, view. This departure has involved following the Charitie5 SORP
IFRS 1021 PLJblished on 16 July 2014 rathei than the Accounting and Reporting by Charities". Statement of
Recommend Practice effective from 1 April 2005 which has since been wthdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost
or transaction value unless olherwse staled in the relevant notes lo these accounts. The financial stslemenls
have been prepared in attordance with the Staternent ol Recommended Practice". Accounting and Reporting by
Charities preparing their accounts in accordance wth the Finanual Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 issued on 16 July 2014 and Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland IFRS 1021 and The Charities Act 2011. The ISA Charity constitutes a public
benefit entity as defined by FRS 102.
Income
Donations are recognised once the charity has entitlement to the income, it is probable that the income will be
received. and the amount ol income receivable can be measured reliably. Income from investments is
recognised onty if received or declared and re¢eiv8ble. Investment incorne is dividends and inleie51 from
investments.
Expenditure
Expenditure is recognised On￿ there is a legal or constructive obligation to transfer economic benefit to a third
party, il 15 probable th818 transfer of economic benefits will be required in settlement and the amount of the
oblig81ion be measured reliably. Expenditure is classilied by activity. The costs of e8ch activity are made up
of the total of direct costs and support costs involved in undertaking each activity. Direct costs attributable to a
single activity are allocated directly to that activity. Support costs which are not attributable to a single activity are
apportioned between those activities on a basis consistent with the use of resources. Support costs are those
costs incuired directly in support of expendituie on the objects of the chaiity 8nd include govein8nce costs,
investment rnanagement costs and other professional fees Incuried a5 Costs of running the chaiity. Grants
payable are charged in the year when the offer is made except in those cases where the offer is conditional,
such grants being recognised as expenditure where the conditions attaching are fulfilled.
Grants offered subject lo conditions which have not been mel 81 the year end dale are noted as 8 commitment
but not accrued as expenditure.
Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is
probable that a Ir8nsfer of economic benefit will be required in seltlemenl, and the arnount of the seltlernent can
be estirnated reliably. Liabilities are recogni5ed 8t the atllount the chaiity anticipates it will pay to settle the debt.
Taxation
The charity is exempt from tax on ils charitable adivities.
Fund accounting
General funds ale unrestiicted fund5 which ale available for use at the di5cietion of the Tiustees in furtheranee
of the general objectives of the charity and which have not been designated for other purposes.
Going cone•rn
The charity has cash resources and no requirement for 8xternal funding. The TrLJStees hav8 8 reasonable
expectation that the chaiity has adequate resouice5 and that there are no material uncertainties about the
charity's ability to continue in operational existence for the foreseeable future. They continue to believe the going
con￿rn basis of accounting appropriate in preparing the financial stalemenls.
Page 7
continued...

THE I S A CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JANUARY 2022
INVESTMENT INCOME
2022
2021
Dividends received
Deposit account interest
Loan interest received
1.774
1,613
124
42,775
46.202
47,976
44,512
Fixed asset investments are a forrn of financial instrument and are initially reoognised at their transaction cost
and subsequently rneasured al fair value at the Balanoe sheet dale, unless fair value rannot be measured
reliably In which case It Is measured at cost less irnpaiment. Investment gains and losses, whether realised or
unrealised, are combined and shown in the heading 'Gainslllossesl on investments, in the Statement of financial
activities.
SUPPORT COSTS
Support costs
2022
2021
Support costs
20.208
41,435
SUPPORT COSTS
Amounts payable to the Independent Examiner total £90012021.. £7801.
Support Costs Includes Governan￿ costs in respect of Accountancy of £9(K)12021." £7801 and Piofe55ion81 fees
of £12,98912021'. £7,636).
TRUSTEES. REMUNERATION AND BENEFITS
During the year Mis AP Kent, a trustee, wa5 paid a salary of £5,00012021". £30,000) ft)r services provided to the
charity. There were no other cost incurred by the trustees on behalf of the charity.
Truste8S' eXP8ns8S
There weie no tIU5tees' expenses paid for the year ended 31 January 2022 nor for the year ended
31 January 2021.
ANALYSIS OF EMPLOYMENT COSTS
2022
2021
Wages and salaries
Social Security costs
5,000
30.000
2,935
5,489
32,935
The average number of employees during the year was 1 {2021.' 11. There were no higher paid employees and
all salary costs are for Key Management Personnel
Page 8
continued...

THE I S A CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JANUARY 2022
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations
1,917
Investment income
44,512
Total
46,429
EXPENDITURE ON
Support costs
41,435
CharStable actlvStles
The Exception815
Chadeston Trust
Holboume Museum
Craft Council
Other Grants to Institutions
Grants to individuals
Cotswold Food Bank
5,943
9,000
9,000
7,500
11,158
1,913
4,000
Total
89,949
Net gainslllossesl on investments
11,1151
NET INCOMEIIEXPENDITUREI
144,6351
RECONCILIATION OF FUNDS
Total funds brought forward
1.550,089
TOTAL FUNDS CARRIED FORWARD
1.505,454
FIXED ASSET INVESTMENTS
2022
2021
Shares
Loans
46,243
996.770
42,128
1.058,405
1,043.013
1,100,533
Additional information as follows..
Listed
investrnenls
MARKET VALUE
At 1 February 2021
Revaluations
42,128
4.115
At 31 January 2022
46,243
NET BOOK VALUE
Al 31 January 2022
46,243
At 31 January 2021
42,128
Page 9
continued...

THE I S A CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JANUARY 2022
FIXED ASSET INVESTMENTS- continued
Other
loans
At 1 February 2021
Repayments in year
Interest charged
1,OS8,405
1107,8371
46,202
At 31 January 2022
996.770
There were no investment assets outside the UK.
Cost or valuation at 31 January 2022 is represented by..
Listed
investments
Valuation in 2021
Valuation in 2022
42,128
4.115
46,243
CASH AT BANK
2022
Total
funds
2021
Total
funds
Bank deposit aa￿Unt
468,507
408,804
Total
468,507
408,804
Cash at bank and in hand indudes cash held in current accounts.
10.
CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
2021
Other creditors
Awrued expense5
3,103
780
900
900
3,883
11.
MOVEMENT IN FUNDS
Net
rllovemenl
in funds
At
31.1.22
Al 1.2.21
Unrestricted funds
General fund
1,505,454
5,166
1,510,620
TOTAL FUNDS
1,SOS,454
5,166
1,510,620
Page 10
continued...

THE I S A CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 JANUARY 2022
11.
MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movernent
in funds
Unrestricted funds
General fund
53,181
152,1301
4.115
5.166
TOTAL FUNDS
S3,181
IS2,1301
4,115
5,186
Comparatlves for movement In funds
Net
movement
in funds
At
31.1.21
At 1.2.20
Unrestrfcted funds
General fund
1,550,089
144,6351
1,505,454
TOTAL FUNDS
1,550,089
144,6351
1,505,454
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
xpended
Gains and
losses
Movernent
in funds
Unre5tTiCted funds
General fund
46,429
{89,9491
11,1151
{44,6351
TOTAL FUNDS
46,429
{89.9491
{44,6351
12.
RELATED PARTY DISCLOSURES
During the year, the charity received donations totalling 25,205 12021". £1,917) from ISA (Holdings) Lirnited, 8
company the trustees Mr R Paice, Mrs M Paice and Mrs AP Kent have shareholdings in.
During the year, the charity loaned ISA (Holdingsl Lirnited the surll of £996,77012021.. £1,058.4051. The loan
accru85 interest at 4.50/ts above th8 Bank of England's ba58 rate 8nd is 18P8yab18 by 31 December 2025.
Page 11

THE I S A CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JANUARY 2022
2022
2021
INCOME AND ENDOWMENTS
Donations
Donations
5,205
1,917
Investment income
Dividends received
Dep051t account interest
Loan interest received
1,774
1.613
124
42,775
46.202
47,976
44,512
Totsl in¢oming ￿Our¢e$
53,181
46,429
EXPENDITURE
Charitsble activities
Grants to institutions
Grants to individuals
28.921
2,930
46,601
1,913
31,851
48,514
Support costs
Manag8ment
Wages
Social security
Sundries
offi￿ expense
s,000
30,000
2,935
734
95
6,318
32,935
Finance
Bank charges
72
84
Gov•rnane• eosts
Accountancy and professional fees
13.889
8,416
Total resourTrs expended
52,130
89,949
Net incomellexpenditurel before gains and
1055es
1.051
143,5201
Realised recognised gains and losses
Realised gainslllossesl on fixed asset
investments
4,115
Net Incomellexpendlturel
5,166
144,e351
This page does not form part of the stalulory financial statements
Page 12