Annual Report and Financial Statements 2022-2023 - Flipbook - Page 17
Available unrestricted reserves are defined as total
unrestricted funds less unrestricted fixed assets (which
are not readily convertible to cash), and amounts
designated for essential future spend. Unrestricted funds
are expected to be broadly maintained over the coming
year and the trustees believe there is no other future
essential spend for which designated reserves should be
set aside.
The calculation of the required and anticipated level of
available reserves is an integral part of TCV’s financial
planning and reporting cycle. The trustees review the
reserves policy on an annual basis and receive reports
on compliance with it throughout the year.
Setting of the available reserves target includes
consideration of the financial resources required to
implement our strategy, and of the principal financial,
operational, people and reputational risks facing the
charity, together with the seasonality of activities
and diversity of funding inherent within the charity’s
operating model.
At 31 March 2023 available unrestricted reserves were
£1,373k (2022: £1,577k), marginally above the mid-point
of the target range specified by the charity’s reserves
policy.
Available unrestricted reserves
Total funds
Less restricted funds
Less revaluation reserve
Unrestricted funds
Less unrestricted fixed
assets
Available unrestricted
reserves
Budgeted weekly
unrestricted expenditure
2023-24 / 2022-23
respectively
Minimum available reserves
(7 weeks spend)
Maximum available reserves
(14 weeks spend)
2023
£’000
4,015
(1,699)
(201)
2,115
(742)
2022 Change
£’000 £’000
(373)
4,388
200
(1,899)
(201)
2,288
(173)
(711)
(31)
1,373
1,577
128
110
896
770
1,792
(204)
1,540
Restricted reserves
Restricted grants and donations received are separately
recorded and monitored to ensure that they are used in
accordance with restrictions imposed by the funder and
that expenditure on projects does not exceed funding
available.
Consultation
The charity fully supports the concept of information
sharing by appropriate two-way communication. This
includes use of colleague and volunteer engagement
surveys as part of a comprehensive communication
strategy comprising multiple channels, including a
regular email from the CEO and a communication forum,
Great Place to Work, which meets regularly.
Anti-bribery and corruption
The charity gives due care and consideration to the
prevention of acts of bribery and corruption. It has set
out and adopted a clear anti-bribery and corruption
policy, appropriate to the size and nature of the charity,
which provides clear guidance to staff, volunteers and
associated stakeholders. The charity also has a formal
whistle blowing policy.
STRUCTURE, GOVERNANCE
AND MANAGEMENT
Legal structure
The charity is a company limited by guarantee. The
governing instrument of the charity is the Articles
of Association, originally dated March 1970 and last
amended July 2019. The Charity’s investment powers
are unrestricted except by general charity law. The
Conservation Volunteers is a charity registered with the
Charity Commission for England and Wales and the
Office of the Scottish Charity Regulator.
Organisation structure
The trustees are responsible for the overall management
of the charity and have delegated day-to-day running to
the CEO, supported by the Leadership Team. The CEO
and Leadership Team provide the trustees with quarterly
reports on financial and operational performance, health
and safety, people and business development activities.
The Board of Trustees
Trustees serve for an initial three-year term, which may
be renewed for a further three years. It may be renewed
for up to an additional three years (i.e. up to nine years
in total) if the trustees resolve that it is in the best
interests of the charity.
Six trustees came to the end of their terms of office
during the year, three of whom having completed a third
term of office during which time the charity was fortunate
to retain their knowledge, skills and experience in leading
the charity – John Mallalieu, Simon Rennie and Julie
Royce.
Inclusive Boards were appointed in the year to provide
specialist expertise in increasing Board equality, diversity
and inclusion in relation to a Trustee recruitment exercise
that successfully appointed a new Chairman and three
other trustees.
The Board of Trustees bring a wealth of experience and
expertise from a wide range of sectors. Further details of
the expertise brought by each trustee are given on pages
20-21.
The Board governs the organisation through compliance
with the Charity Commission for England and Wales’
Governance Code, and TCV’s vision, aims and charitable
objectives.
The Board held four formal meetings during the year,
together with additional meetings as required to make
other decisions as required by the Charity delegated
authority policy.
TCV Annual Report and Financial Statements 2022-2317
