Company registration number: 14595973
Charity number: 1205544
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TRUSTEES' REPORT AND FINANCIAL STATEMENTS
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FOR THE PERIOD ENDED
31 JANUARY 2024
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
CONTENTS
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Reference and Administrative Details of the Company, its Trustees and Advisers
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Independent Examiner's Report
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Statement of Financial Activities
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Notes to the Financial Statements
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 31 JANUARY 2024
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Dr S E Lintott, Chair (appointed 11 April 2023)
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J L Kohler, Trustee (appointed 11 April 2023)
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D Lowther, Trustee (appointed 11 April 2023)
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N I Bolton, Trustee (appointed 11 April 2023)
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Professor Sir D A King, Director (appointed 16 January 2023, resigned 11 April 2024)
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Company registered number
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Charity registered number
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20 Glisson Road
Cambridge
CB1 2HD
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Menzies LLP
Chartered Accountants
Richmond House
Walkern Road
Stevenage
SG1 3QP
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE PERIOD ENDED 31 JANUARY 2024
The Trustees present their annual report together with the financial statements of Climate Response Limited for the period 16 January 2023 to 31 January 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
CRL’s objectives are to promote sustainable development for the benefit of the public, in particular but not exclusively, by providing information, sharing knowledge and disseminating research to the public at large in subjects relating to climate change and the protection, enhancement and rehabilitation of the environment.
In the context of CRL’s activities, sustainable development means “development which meets the needs of the present without compromising the ability of future generations to meet their own needs”.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
CRL has an active project in the form of Climate Crisis Advisory Group (CCAG). CCAG is a recognised trading name of CRL. At present CRL has no other projects or activities.
CCAG is at the forefront of the climate conversation, guiding public, governmental, and institutional understanding of the crisis. CCAG’s 16 global experts distil complex science into actionable insights, fostering informed decisions that help educate and influence audiences around the world.
CCAG’s strategies come to life through a broad spectrum of activities. For example, CCAG advisors unravel climate complexities through public online discussions, free publicly available in-depth reports, strategic campaigns, and in-person briefings on request.
The strategy is summed up as ‘To educate and influence’ target audiences. ‘Educate’ is aimed at members of the public engaged in climate concerns; ‘Influence’ is aimed at policy makers.
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
c. Activities undertaken to achieve objectives
‘Educate’ activities include:
Online (free to view) public meetings; Short, filmed discussions in a series called ‘Climate Conversations’; Digital media engagement – involving a wide range of social media platforms; Media engagement – with newspapers and traditional media; Participation in high profile climate events and meetings such as New York Climate Week, COP meetings and so on.
‘Influence’ activities include:
Direct policy and stakeholder engagement; High level partnerships; Events and meetings; Media engagement.
Achievements and performance
a. Main achievements of the Company
Using the group’s strong platform CCAG undertook a series of action-orientated programmes, namely: Accelerating a just energy transition (from fossil fuels to renewable energy sources); Future proofing urban areas in the face of the climate crisis (promoting the energy transition whilst focussing on the well-being of urban citizens); Keeping global commitment alive to limiting global warming to 1.5°C above pre-industrial levels (the intention of the global Paris Agreement of 2015).
b. Review of activities
In the first year of activity within CRL, CCAG reached 53,624 followers on social media; they received 743,800 views on CCAG YouTube content; they were mentioned in 4,582 news items; they attended 4 global events on climate issues; and attended 9 policy meetings.
CCAG has collected views on its activities. Amongst many favourable comments:
CCAG reports ‘are being read by decision makers’ (Former UK climate negotiator)
‘I’m aware of the work you’re doing; there is a clear gap between science and policy that is having a detrimental effect on industry. I think you can help fill that.’ (Senior General Motors Executive)
c. Fundraising activities and income generation
Funding has come from grants and donations, following presentations about CCAG’s activities.
Grants were given by: Open Society Foundation (£100,000); Cambridge in America (£263,199.13); CECG (Climate Emergency Collaboration Group) (£120,000); Urban Partners (£20,000).
Donations were given by: Amadeo (£10,000); Bucelati (£500).
Funding was unrestricted except the CECG funding and the Urban Partners funding.
Financial review
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
A reserves policy has been set out in a note entitled ‘Note re Cashflow and appropriate responses’ prepared in accordance with the decision set out at 3.3 in the Minutes of the Directors Meeting of 24 January 2024, and subsequently agreed by the Directors.
Structure, governance and management
a. Constitution
Climate Response Limited is registered as a charitable company limited by guarantee and is governed by its Articles of Association.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are appointed under the terms of the Articles of Association.
David King was the initial director for the incorporation of the company, and while it was recruiting a full board. The company did not commence its activities until after David King had stepped down.
c. Organisational structure and decision-making policies
The Board has oversight of all CRL activities. A detailed budget is agreed at the start of the financial year, with significant variations reported to the board on an on-going basis. Where activities and expenditure are in line with the strategy and budget, the operational activities are able to proceed. Where variations are required, the Board is asked to review and approve changes. Board consultation procedures have been recorded in Minutes of Board meetings. Board members do not receive remuneration for their work for CRL.
The expert CCAG members have autonomy in the creation of technical content, expert presentations, and decisions about priority areas for CCAG effort and activities. CCAG members do not receive remuneration for their work with CCAG. They are entitled to reimbursement of travel and related expenses for attendance at meetings on CCAG behalf.
Operational, day to day matters, are secured through a project team consisting of suppliers. Operational matters were originally led by firstlight Ltd, and are now led by ISG Ltd. There is a list of approved suppliers who support the CCAG work. Where new suppliers are required, there are policies in place for allocating work. Some operational activities are provided pro-bono (administration, some report writing); remaining activities are paid for by CRL at normal market rates, whilst adhering to CRL procurement policies.
Plans for future periods
There is a strategy in place for the financial year ending January 2025. Funding has been secured in Grants to support the activities, totalling about £766,000 including the surplus from the year ending January 2024. Activities are thematically similar to those outlined in this report, with specific projects tailored to deliver specific information, reports and outcomes.
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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Dr S E Lintott
Chair
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE PERIOD ENDED 31 JANUARY 2024
Independent Examiner's Report to the Trustees of Climate Response Limited ('the Company')
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I report to the charity Trustees on my examination of the accounts of the Company for the period ended 31 January 2024.
Responsibilities and Basis of Report
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As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
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Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ACCA and the ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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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.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company'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 Company and the Company's Trustees as a body, for my work or for this report.
Signed: Dated: 16 October 2024
S L Cuzner FCCA ACA
Menzies LLP
Chartered Accountants
Richmond House, Walkern Road
Stevenage, SG1 3QP
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE PERIOD ENDED 31 JANUARY 2024
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Unrestricted funds
Period ended
31 January
2024
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Restricted funds
Period ended
31 January
2024
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Total
funds
Period ended
31 January
2024
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Total funds carried forward
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The Statement of Financial Activities includes all gains and losses recognised in the period.
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The notes on pages 11 to 15 form part of these financial statements.
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 14595973
BALANCE SHEET
AS AT 31 JANUARY 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Net assets excluding pension asset
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 14595973
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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Dr S E Lintott
Chair
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The notes on pages 11 to 15 form part of these financial statements.
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 JANUARY 2024
Cash flows from operating activities
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Net cash provided by operating activities
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Cash flows from investing activities
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Net cash provided by investing activities
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Cash flows from financing activities
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Net cash provided by financing activities
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Change in cash and cash equivalents in the period
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Cash and cash equivalents at the end of the period
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The notes on pages 11 to 15 form part of these financial statements
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
Climate Response Limited is a private company, limited by guarantee without share capital, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Climate Response Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
2.Accounting policies (continued)
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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Liabilities and provisions
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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 transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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Income from donations and legacies
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Unrestricted funds
Period ended
31 January
2024
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Restricted funds
Period ended
31 January
2024
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Total
funds
Period ended
31 January
2024
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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Unrestricted funds
Period ended
31 January
2024
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Total
funds
Period ended
31 January
2024
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Independent examiner's remuneration
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Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts
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The average number of persons employed by the Company during the period was as follows:
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No employee received remuneration amounting to more than £60,000 in either year.
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Trustees' remuneration and expenses
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During the period, no Trustee received any remuneration or other benefits.
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During the period ended 31 January 2024, no Trustee expenses have been incurred.
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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Creditors: Amounts falling due within one year
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Financial assets measured at fair value through income and expenditure
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CLIMATE RESPONSE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
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Statement of funds - current period
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Balance at 31 January 2024
£
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Analysis of net assets between funds
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Analysis of net assets between funds - current period
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Creditors due within one year
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