civitas accounts 2006

8/8/2019 Civitas Accounts 2006

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CIVITAS L IMITEDTHE INST ITUTE FOR THE STUDY OF C IV IL SOC IETY(Registered Charity number 1085494)(Company limited by Guarantee, Registration number 4023541)

REPORT AND F IN ANC IA L S T A T EME NTSFOR TH E YEAR ENDED31 DECEMBER 2006

No S

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CIV ITAS L IM I TEDTHE INST ITUTE FOR THE STUDY OF C IV I L SOC IETY

Legal and Administrative Information

Report of the Trustees

Report of the Independent Auditors

Statement of Financial Activities

Balance Sheet

Accounting Policies

Page

2

3-5

6

7

8

9

CONTENTS

Notes to the Financial Statements 10 -13


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C IV IT A S L IM IT ED LEGA L AND ADM INIS TRA T IV E INFORMAT IONTHE INST ITUTE FOR THE STUDY OF C IV IL SOC IETY

Trustees/Directors of the Charitable CompanyChairman The Honourable Justin ShawDepu ty Chairman S ir Peter WaltersTreasurer D r Phi lip BrownPatrick BarbourT he Hon M rs S i lv ia Le Marchant

Professor Kenneth MinogueDouglas Myers CBELord Vinson of Roddam Dene

Other Officers of the CharityExecutive Director D r Dav id GreenDepu ty Director Robert Whelan

Company Secreta ry D r David Green

Registered Office 77 Great Peter StreetLondon SW1P 2E Z

Website Address www.civitas.org.uk

Bankers

Independent Auditors

Barclays Bank plcPall Mall Corporate Banking CentrePO Box 15163London SW1A 1Q DThe Cooperative BankPO Box 250SkelmersdaleWN8 6WTCOIF Charities Deposit FundCC LA Investment Management Limited80 CheapsideLondon EC2V 6DZ

C LB Li t tlejohn FrazerChartered Accountants and Registered Auditors1 Park PlaceCanary WharfLondon E14 4H J

Charity Registration Number 1085494

Company Registrat ion Number 4023541

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C IV ITAS L IM ITED REPORT OF THE TRUSTEESTHE INST ITUTE FOR T HE STUDY OF C IV IL SOC IETY Year ended 3 1 December 2006

The Trustees (who are a lso the Directors of the Charitable Company Limited by Guarantee) present their report forthe year ended 31 December 2006. The presentation of the Financial Statem ents reflects the requirem ents of theCharities SORP (issued in March 2005), the Companies Act 1985, and the Charity 's governing document asoutlined below.Statement of Trustees' Responsibil itiesThe Trustees are responsible for preparing the Annual Repor t and the Financial Statements in accordance withapplicable law and regulations.Company law requires the Trustees to p repare F inanc ia l S ta tements for each f inancial year. Under that law theTrustees have elected to prepare the Financial Statements in accordance with Unite d K ingdom GenerallyAccepted Accounting Practice (United K ingd om Ac countin g Standards and applicable law). The F inan cia lStatements are requi red by law to give a true and f ai r v iew of the state of a ffairs o f the Company and of thesurplus or deficit of the Company for that period. In preparing these F inanc ia l S ta tements the Trustees arerequired to: select suitable accounting policies an d then apply them consistently ; make judgements and estim ates that ar e reasonable and prudent; state whether appl icable account ing standards have been fol lowed; prepare the Financial Statements on the going concern basis unless it i s inappropriate t o presume that theCompany will continue in operation.The Trustees are responsible for keeping proper accounting records, for safeguarding the assets of the Companyand for the prevent ion and detection of f raud and other irregularities.Constitution and ObjectivesCivitas Limited, also known as the Institute for the S tu dy of Civil Society, is establi shed under its Memo randum andArticles o f A s socia tion da ted 29 June 2000 and amended on 23 November 2000, an d is a registered charity,number 1085494.Details of the Company 's current Trustees, other Of fi cers and Advisors are se t out on page 2. In addition, ProfessorHarold Rose was also a Trustee unti l h is resignat ion on 23 May 2006.Under the Company ' s Memorandum of Association, the Charity is established to advance the stud y andunderstanding of religion and ethics in Society and any other charitable purpose.Organisation of the CharityThe Trustees supervise the management an d adm inistration of the Charity. The day to d ay ru nn in g of theCharity is delegated to the Executi ve Di rec tor and his Deputy.Trustees wi th relevant experience and expertise are recruited on m eri t from am on g those with a dem onstratedcommitment to the a ims of the charity.Review of the Year's Achievements an d PerformanceAs stated abo ve, the Charity 's principal objectives are to advance the study and understanding of religion andethics in Society. In order to achieve its objectives the Char ity does the following:

Discovers solut ions to social problem s. Imp lements pioneering pro jec ts to demons trate whatcan be accom pl ished. Suppl ies schools wi th teach ing m aterials and guest speakers. Supports inform ed public debate and encourages consensus by :o Providing accurate factual inform ation on today 's soc ia l issues.

o Publishing inform ed commen t and analysis.o Bringing together leading protagonists in open d iscuss ion.

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C IV IT A S L IM I T E D REPORT OF T H E T RU ST E E ST HE INS TIT UT E FO R T HE STUDY OF C IV IL SOC IETY Year ended 31 December 2006In 2006 the Charity's objectives were achieved by the following activities:

The issue of the following publications: "Institutiona! Injustice" by Martin Mears (January)"TheRetreat of Reason" by Anthony Browne (January) "Eng!and and the Need for Nations" by Roger Scru ton (2nd edition) (February)"FamilyPolicy, Fami l y Changes " by Patricia Morgan (March)"nspection Inspection Inspection!" by Anastasia de Waal (July) C iv itas Review : "How France Has Undermined the European Pro ject" , by W il J am e s and GregoryLowe (August)"The NHS and the NHS Plan: I s the extra m oney work ing?" (Onl ine report) by J am es Gubb (August)"We're (Nearly) All Vict ims Now" by David Green (October) EU Fac ts CD Rom (O ctober)"The West, Islam and Is lamism" by John Marks and Ca ro line Cox (2nd edition) (November )

The holding of the following seminars: Oliver Letwin -'Redistribution and narrowing the ga p between the rich and poor' (March) Frank Prochaska, Andreas Whittam -Sm ith, Fer dinand Moun t an d Frank Field - a half day conferencewas held at the Reform Club on the topic of 'Churches and Welfare' (March) David Willets -'Choice in education' (March) Paul Corrigan -'Health care reform' (March) Graem e Catto -'Regulation of the medical profession' (Apri l) Ziauddin Sardar (author of De spera tely Seeking Paradise) - 'The com patibi li ty of Islam andDemocracy' (Apri l) Bernard Ribeiro (President of the Roy al College of Surgeons) - 'NHS funding and social insurance'(May) Geoff Dench -'Poverty in the new East End o f London ' (May) Paul Evans (Home Office) -'Neighbourhood policing' (September) Michael Gove MP -'Celsius 7/7' (October) Frank Field MP -'Welfare reform' (October) John Denham MP - ' Im m igrat ion ' (Novem ber) Melanie Phillips - 'Londonistan' (Novem ber) Br ian Beedham and Douglas Carswell MP -'Direct democracy' (December)

Schoo l talks and debates:A to ta l o f over 140 EU-sceptical talks or deba tes were held in schools across the country. 250 speakers havenow made them selves available for the programme.The first Civi tas Nat ional 6th Form Conference on the EU, them ed "Emerging from its period of reflection: Whatdoes the future hold for the EU?", was held at the Emmanue l Centre, Westm inster, in Ma rch 2006. Over 7 00sixth form ers attended.School factsheets:O v er 200 copies of EU Facts were sent ou t to 150 sixth forms who requested it . Teachers are finding it useful,as this comment from a school in Lincolnshire testifies: "It's good to see an organisat ion that appreciates theneeds o f schoo ls by supp ly ing usable material, rather than just' ideas"' .T he New Mod el School:Because policy makers have been so slow to raise standards for the poorest half of the population, we havefounded the New Mode l Schoo l to b ring pr iva te education within the reach of the vast m ajority o f pa rents bymak ing pr im ary education available for under 5 ,000 a year in London (less outside). In add iti on , we aim toshow that direct teaching by tradit ional methods is more effective than teaching based on 'discovery', underwhich c hild re n a re supposed to learn for them selves with the teacher as fac il itator, rather than aprofessional who imparts knowledge. T he first new model sc hoo l was established on a sma! l scale inSeptember 2004 in Queens Park. We are now seeking to expand it in the hop e of developing a mode l thatcan be em ulated elsewhere.

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C I V IT A S L IM I T ED REPORT OF THE TRUSTEESTHE INST ITUTE FO R THE STUDY OF C IV IL SOC IETY Year ended 31 December 2006

Supplementary schools:T he supplementary schools com pensate for inadequate state educat ion in inner city areas. One of thegroups most affected by poor quality schools is imm ig ran t child ren and , am o ng them, outcomes forBang ladeshi child ren have on average been particularly poor. We are currently providing two Saturdaymorning classes for mainly Bangladeshi children. At the summer school in 2006, the average reading age ofthe children increased by 9 m onths.The King's Cross Saturday School continues to operate successful ly. T he after-school lessons at King'sCross have been running on Tuesda y and Wednesday evenings since October 2006. We have two specialneeds teachers to work individually with the children who a re esp ec ia lly stru gg lin g. We are seeingimprovements: some of the ten year olds, who were s igni fi cant ly behind a few months ago, are nowconfidently working through algebra equations norm al ly suited to those studying for GCSEs . In the Februaryhalf-term we are hold ing c lasses for three hours each day for the children from the Tuesday, Wednesdayand Saturday c lasses .T he work at the London Bo xin g A cademy is challenging bu t is making a difference to the students, who areal l teenagers who have been excluded from state schools. Three teachers provide intensive maths, English,IC T and art lessons to eight stu d en ts . T h e stu d en ts find it d i ff icu lt to concentrate and require a lot ofindividual attention bu t the change in academic perform ance and attitude since last term is encouraging.

These activities are continuing in 2007.Financial Position and Reserves PolicyAt 31 December 2006 the Company had net assets of 786,056 (2005 -644,071), represented by unrestrictedgeneral purpose funds of 446,190 (2005 -486,015) and restricted funds of 339,866 (2005 -158,056). Theseare considered available and adequate to fulfil the obligations of the chari ty for the foreseeable future.T he policy of the Trustees is to maintain a financial reserve up to the equivalent of an average year's expenditure,to be exceeded only fo r specified purposes such as provision for premises or projects subject to restricted funding.Risk ManagementThe Trustees con firm that they have identified and reviewed the major risks to which the Charity is exposed, andhave established system s to m iti ga te those risks.The principal risk f ac ing the Charity is that it does no t r ai se suf fi cien t i ncom e to be ab le to cover the cost ofcharitable activities and gove rnance costs.Disclosure of Information to AuditorsS o far as each Trustee is aware, there is no relevant audit inform at ion of which the Company ' s auditors areunaware, and each Trustee has taken all the steps that he ought to have taken as a Director of the Company inorder to make him self aware of an y re levant aud i t in fo rm at ion and to establish that the Company ' s auditors areaware of that informat ion.AuditorsA resolution proposing the reappointment of CLB Li tt le john Frazer as auditors to the chari ty fo r the ensuing year willbe proposed at the Annual General Meeting.On behalf o f the Trustees

The Honourable Justin ShawChai rman1 - 1 May 2007

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C IV ITAS LIMITED REPORT OF THE INDEPENDENT AUDITORSTHE INST ITUTE FOR THE STUDY OF C IV IL SOC IETYINDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF C IV ITAS LIMITEDWe have audited the F inanc ia l S ta tements of C iv itas L im i ted for the year ended 31 December 2006, whichcomp r ise the Statem ent of Financia l A ct iv i ties, the Balance Sheet, an d the rela ted notes numbered 1 to 9.These Financial Statem ents have been p repared under the accounting po lic ies setout therein.

This report is mad e solely to the Company ' s members , as a body, in accordance with Section 235 of theCompanies Act 1985. Our a ud it work has been undertaken so that we might state to the Company 's m em bersthose m atte rs we are required to state to them in an auditor 's report and for no other purpose. To the fullestextent perm itted by law, we do not accept or assume responsibil ity to anyone other than the Company and theCompany 's m em bers as a body, for our aud i t wor k, for this report, or for the opinions we have formed.Respective Responsibilities of Trustees and AuditorsThe Trustees' respons ib i li ties for preparing the Financial S tatem ents in accordance wi th appl icab le law, UnitedKingdom Accounting S t anda rd s and the Charit ies' Statement of Recommended Prac ti ce (Uni ted KingdomGenerall y Accepted Account ing Practice) are se t ou t in the Statement of Trustees' Responsibilit ies.Our responsibility is to aud it the Financial Statem ents in accordance with relevant legal a nd reg ula toryrequirem ents and International Standards on Audi t ing (U K and Ireland).We re po rt to you ou r op in ion as to whether the F inanc ia l S ta tements g ive a true and fair view and a re p ro pe rlyprepared in accordance with the Companies A ct 1985. We also report to you whether, in our opinion, theinform ation given in the Trustees' Report is consistent with the Financia l Statements.In addit ion we report to you i f , i n ou r opinion, the Company has not kept proper accounting records, if we havenot received al l the inform ation an d explanations we re qu ire for ou r audit, or if i n format ion speci fied by lawregarding Trustees' rem unerati on and other transactions is no t disclosed.We read the Trustees' Report and consider the im pl icat ions for our repo rt if we become awa re of any apparentm isstatem ents within it .Basis of OpinionWe conducted ou r audit in accordance wi th In ternationa l Standards on Audi t ing (U K and I re land), issued by theAudi t ing Practices Board. An audi t includes an exam inat ion, on a test basis, of evidence relevant to the amountsan d disclosures in the Financial S tatem ents. It also includes an assessment of the s igni fi cant est im ates andjudgments made by the Trustees in the preparat ion of the Financia l Statements, and ofwhether the AccountingPolicies a re appropri ate to the Company ' s circum stances, consistently appl ied and adequately disclosed.We planned and perform ed our audit so as to obtain al l the inform ation and exp lanations wh ich we considerednecessary in order to provide us w ith suf fi cien t ev idence to g ive reasonab le assur ance that the FinancialStatem ents are free from ma teria l m isstatem ent, whether caused by fraud or other irregularity or error. Informing our op in ion we also evaluated the overall adequacy of the presentation of informat ion in the FinancialStatements.OpinionIn our opinion the Financia l Statem ents give a true and fair view, in accordance with United K ingdom GenerallyAccep te d Accoun ting P racti ce , of the state of the Company ' s affairs as at 3 1 December 2006 and of itsi ncom ing resources and application of resources, inc lud ing its i ncome and expenditure, for the year then ended,and hav e been properly prepared in accordance with the Compan ies A c t 1 98 5. In ou r opinion the informationgiven in the Trustees' Report is consistent with the Financia l Statements.

aqCLB Littlejoh.~f FrazerChartered Accountants 1 Park Placeand Registered Auditors Canary Wharf18 May 2007 London E14 4H J

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C I V IT A S L IM I T ED S T A T EM EN T OF F INANCIAL ACT IV IT IESTHE INST ITUTE FOR TH E STUDY OF C IV I L SOC IETY ( incorporating an Income and Expenditure Account)Year ended 31 December 2006

Income and ExpenditureIncoming ResourcesI n c o m i n g resources from generated f u n d s :

Voluntary income - DonationsActivities for generating f u n d s :

2006 2005Total Total

Funds FundsAs r e s t a t e d

197,768 312,962 510,730 384,866- M em bership p rogramme 21,212- Subscript ions 4,116Investm ent i ncome - Interest and div idends receivable 28,914Incoming resources from charitable activities:- Conference 3,331- Publication sales 134,942- Sundry income 597

21,212 20,0924,116 6,74828,914 26,886- 3,331- 134,942 97,755546 1,143 2,937

Total Incoming Resources 390,880 313,508 704,388 539,284Resources ExpendedCost of generating funds :- MarketingCharitable activit ies:- European Relations Project- Fami ly S tud ies Projec t- Governance Project

- Health Alternatives Project- New Model School Projects- Our Island Story Project- Sup plem entary Schools Project- Book publishing- Sem i na rs and m eetings- Research

Governance costs

Total Resources Expended

Net (Outgoing)/Incoming Resources fo r th e Year

2

16,719

26,8419,437290,856

26,841 75,1059,437 10,194290,856 168,272

343,853 99,213 443,066 544,20887,522 - 87,522 91,031

431,375 99,213 530,588 635,239

(40,495) 214,295 173,800 (95,955)

Other Recognised Gains and LossesRealised loss on d isposal o f investm ent asset 5 -Unrealised surplus on investment asset 5 670

Net Movement in FundsFund balances brought forward

Fund balances carried forward 8

- (36)670 1,213

(39,825) 214,295 174,470 (94,778)486,015 125,571 611,586 706,364

446,190 339,866 786 ,056 611,586

T he C om p a ny has no recognised gains or losses other than as stated above. A ll of the acti vi ties representcontinuing activities of the Charity.The Accounting Policies and Notes on pages 9 to 13 form part of these Financial Statements.

2006 2006Unrestricted RestrictedNote Funds Funds

- 16,719 11,65835,558 35,558 25,0905,676 5,676 -

3,760 143,30033,12867,3317,474 7,474 10,13046,745 46,745 -

3,760

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C IV ITAS L IM IT ED BA LANC E SHEETTHE INST ITUTE FOR THE STUDY OF C IV I L SOC IETY At 31 December 2006

Fixed AssetsNote 2006 2005

As restated

Tangible fixed assets 4 3,026 6,781Fixed asset investments 5 6,194 5,524

Current Assets9,220 12,305

S tock o f books for resale 22,230 35,322L oan to N ew Mo del School (due after one year ) 9 69,648 17,515Sundry debtors 16,856 12,732Income tax recoverable - 3,131VA T recoverable 6,556 5,297Staff season t icket loans 342 1,113Cash a t bank and in hand 782,133 634,065

897,765 709,175Creditors: Amounts Falling D ue Within One YearSundry cred i tors 10,123 50,585T ax and social security costs 10,806 9,309

20,929 59,894Net Current Assets

Total Assets less Current Liabilities

876,836 .649,281

886,056 661,586Creditors: Amounts Falling D ue After MoreThan One YearRestricted purpose loan

Net Assets

Funds

6 100,000 50,000

Restricted fundsUnrestricted funds

786,056 E611,586

339,866 125,571446,190 486,0157

786,056 611,586

Approved and authorised for issue by the Board of Trustees on 1 1 May 2007and s igned on its behalf by

The Hon Mrs Silvia Le Marchant Trustee

The Accounting Policies and Notes on pages 9 to 13 form part of these Financial Statements.

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C IV IT A S L IM I T E D ACCOUNT ING POLIC IEST HE INS T IT UT E FOR T HE STUDY OF C IV I L SOC IETYBasis of accountingT he Financial S ta tements a re p repa red under the h is to ri ca l cost convent ion apar t from fixe d asset investm ents,which are sta te d a t market value, and in accordance with the Compan ies A c t 1985, the Char it ies A ct 1993, theS ta temen t of Recommended Practice, Accounting and Repor tin g by Charities (issued in March 2005), a ndappl icable accounting standards. The speci fi c accounting po li cies adopted ar e set out be low.Incoming resourcesDonations and subscript ions are included as income as soon as they a re received, un less the donor has imposedpre-conditions on the u se of the funds, in which case the donati ons a re car ried forward until the pre-condi tions aremet. Grants a nd statutory funding a re r ec ognised on ce the resource is receivable by the charity and can bemeasured with reasonable reliability. Gifts in kind , suc h a s a ssets g iv en for use by the charity are recognised asi ncom e when recei ved a nd a re re co rd ed at their estim ated market value. Assets g iven fo r distribution by the charityare recognised as in com e when d istribu ted . V olu ntary help is not recognised in the Statem ent of FinancialActivities.Resources expendedA ll expend itu re is a ccounted for on an accruals basis. Staff salaries are a lloca ted to charitable activities orgovernance costs on a t im e-spent basis.DepreciationDepreciation is provided on all tangible f ixed assets at rates calculated to write of f the cost of each asset, less an yresidual value, evenly over its expected useful life. Office furniture and equipment has an expected useful life ofbetween 3 and 5 years.StocksS to ck s a re v alu ed a t the lower o f cost an d net real isable value.Operating leasesRentals paid under operating leases are cha rged to in come as incurred.TaxationAs a charity, Civ i tas L im i ted is generally exempt from taxa ti on w ith the exception of Va lue Added Tax. T he charity isregistered for VA T and expenditure is stated excluding the related VA T .Fund accounting - restricted, designated and unrestr icted fundsRestricted funds com p r ise dona tions and g rants that have been received for spec if ic pu rposes or have beensub jec t to spec if ic condit ions imposed by the donor. Des ignated funds compr ise unrest ri cted funds set aside by theTrustees for speci fi c purposes. Unrest ri cted funds m ay be used for the purposes of the chari ty a t the Trustees'discretion.InvestmentsInvestm ents are included in the Financial S ta tements a t their marke t value. Unreal ised ga ins and losses areincluded in the Statem ent of Financial Ac ti vi ti es and are computed by reference to the market value of thei nves tm ents a t the beginning of the year. Gains or lo sses a rising from the sale o f i nvestmen ts are shown asrealised.Pension Contributions

The Charity operates a defined contribut ion pension scheme for certain of its senior em ployees. T he fu nd s ofthe scheme are adm inistered by Trustees an d are separate from the Charity. Contributions are paid by theCharity and emp l oyees. T he pension charge represents contributions payable by the Charity for the year. TheCharity's liability is l imited to the am ounts of the contribution.

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C IV ITAS L IM I T ED NOTES TO THE F INANCIAL STATEMENTSTHE INST ITUTE FOR THE STUDY OF C IV IL SOC IETY

1 . Inform ation regarding Trustees and Employees 2006 2005Staff costs:Wages and salaries, including benefi ts 309,856 285,825Social security costs 32,741 30,179Pension contributions 15,895 13,683

358,492 329,687

The average number of persons employed by the Company during the year was: 12 10

There was one employee with em olum ents for the year in the range 80 ,000 to 90,000 (2005 - one between80,000 and 90,000). In addit ion, the charity paid 9,471 (2005 -8,400) in the year for the p rov ision ofmoney pu rchase pens ion benefits for this emp lo yee. No other em ployees received em olum ents for the year inexcess o f 50,000 (2005 -Nil). T he Trustees were no t remunerated, and d id no t reclaim any expenses in theyear (2005 - Nil).

2. Governance Costs 2006 2006 2006 2005Unre stricte d Res tricted Total TotalFunds Funds Funds Funds

Accountancy 1,290 - 1,290 1,603Bad an d doubtful debts - - - 533Bank charges 1,168 - 1,168 590Depreciat ion 5,444 - 5,444 5,993Independent audi tors' remuneration 1,900 - 1,900 1,800Insurance 663 - 663 -Loss on d isposal o f tangible fixed assets - - - 332Postage 17,722 - 17,722 19,956Rent 31,428 - 31,428 29,076Staff salaries-adm inistration 18,800 - 18,800 18,367Stationery and com pu te r suppl ies 6,011 - 6,011 6,599Sundry expenses 1,533 - 1,533 4,627Telephone 1,563 - 1,563 1,55587,522 - 87,522 91,031

3 . Operating Lease ObligationsThe min imum lease payments to which the Company is comm i tted under a non-cancellable operating lease forthe coming year total 39,120, of which 28,120 is on a property lease expiring more than five years from thebalance sheet date (2005 -28,120), and 11,000 is on a property lease expiring within one year from thebalance sheet date (2005 - Ni l) .

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C IV ITAS L IM ITED NOTES TO THE F IN ANC I A L S T A T EMENTSTHE INST ITUTE FOR THE STUDY OF CIV IL SOC IETY

4. Tangible Fixed Assets

Cost

Officefurniturean dequipmentA t 31 Decem ber 2005 24,732Addit ions 1,689

A t 31 December 2006 26,421

DepreciationA t 31 Decem ber 2005 17,951Charge for the year 5,444

At 31 December 2006Net Book ValueA t 31 Decem ber 2006

23,395

3,026

At 31 December 2005 6,781

T he Comp an y had no capital commitments at 31 December 2006 (2005 -Nil).5. Fixed Asset Investments 2006 2005

Quoted investments:Market value at 31 December 2005 5,524 8,573Disposals - (4,226)Realised loss on investment sold - (36)Increase in market value 670 1,213

Market value at 31 December 2006

Historical cost /o rig inal m arket value when donated to the Company

6. Restr icted Purpose Loan

6,194 5,524

4,794 4,794

T he C om p any has received a loan from a charitable trust for the pu rpose o f supporti ng the development of theNew Mo del School. T he loan is unsecured, interest free, and has no fixed repayment date, although the trusthas con firmed that no repayment would be sought until at least 1 January 2008, and only then if the New ModelSchool has made a t rad ing surp lus and is able to repay al l or part of its associated loan from the Company .In the Company ' s financial statem ents for the year ended 3 1 December 2005, th is loan and the assoc ia ted loanto the New M od el School were incorrectly shown as income and expenditure within restricted funds. Thecomparat ive figures in these financial statem ents have therefore been restated where necessary.

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C IV ITAS L IM ITEDTHE IN S T ITU T E FOR THE STUDY OF C I V IL SOC IE TY

7. Restricted Funds

NOTES TO THE F INANCIAL S T A T EMENTS

Balance at Balance at31 December 31 December2005 Income Expenditure 2006

As restatedCommun i t y Studies Project Fund 20,000 - - 20,000Dys lexia Bursary Fund - 10,000 - 10,000European Relations Project Fund 31,388 57,500 (35,558) 53,330Fam ily S tud ies Projec t Fund - 16,000 (5,676) 10,324Health Alternatives Pro jec t Fund 39,909 - (3,760) 36 ,149New Model School Bu rsary Fund 6,960 - - 6,960Our Island Story Projec t Fund 27,314 35 (7,474) 19,875Supplementary Schools Project Fund - 229,973 (46,745) 183,228

Totals 125,571 313,508 (99,213) 339,866

The Com m un ity S tud ies Pro ject Fund was se t up to support work on a study of the moral and cultural roots of afree society.T he Dys lexia Bursary Fund was set up to provide teaching suppor t for young people with special educationalneeds, especially but not only, dyslexia.The European Relations Project Fund was se t up to p ro vide a network o f speakers for schools and universitieson issues relating to our rela ti ons w ith o ther Eu ropean countr ies, and to p ro vide teaching ma te ria ls about theEU for schools.The Family Studies Project Fund was se t up to advance study of the family and marriage.The Health Alternatives Project Fund was set up to cove r the cos t of studying overseas health systems todiscover the lessons for Britain.The New Model School Bursa ry Fund was set up to provide educational opportunities for chi ldren from low-income backgrounds at the New Model School or elsewhere.The Our Island Sto ry Project Fund was set up to encourage schools to teach narrative histo ry , especially byusing the book, Our Island Sto ry by H E Marshall.The Supplementa ry Schools Project Fund was set up t o suppo rt a network of supplementa ry schools h e l d onSaturdays or after school on weekdays to teach mainly (but not only) English and maths to children who havefal len behind the expected standard for their age.

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C IV ITAS L IM ITED NOTES TO THE F IN ANC I A L S T A T EMENTSTHE INST ITUTE FOR THE STUDY OF C IV IL SOC IETY

8. Analysis of Total Funds Tangible Net CreditorsFixed Current D ue AfterAssets Investments Assets One Year Total

Restricted funds:Commun i t y Studies Project Fund - - 20,000 - 20,000Dyslexia Bursary Fund - - 10,000 - 10,000European Relations Project Fund - - 53,330 - 53,330Fam ily S tud ies Project Fund - - 10,324 - 10,324Health Alternatives Project Fund - - 36,149 - 36,149New Mode l School Bursary Fund - - 6,960 - 6,960New Model School Restricted Purpose Loan - - 100,000 (100,000) -Our Island Story Project Fund - - 19,875 - 19,875Supplementary Schools Project Fund - - 183,228 - 183,228

Unrestricted funds- - 439,866 (100,000) 339,866

3,026 6 ,194 436,970 - 446,190

Total funds 3,026 6,194 876 ,836 (100,000) 786 ,056

9. Related PartiesThe Chai rman of the Board of Trustees and the Deputy D irector of Civitas L im i ted a re both also Di rec tors ofT he New Model S chool C ompan y L im i ted ("New Mode l School"), a separa te com pany set up du ring 2004 as aresult of a Civitas project. Civitas has no interest in the shares issued by New Model School. The registeredoffice of New Model School is at the same ad d ress as Civitas, and a membe r of staff of New Model S choolwork s a t tha t office, although no contribution to rent is currently paid to C iv itas . C iv itas had no lega l or financialob lig ation s to New Model S c hool as a t 31 December 2006 (2005 -Nil). Funds raised by Civitas for the benef itof the N ew M od el S chool Project are spent at the d isc retion of Civitas, bu t funds received by way of therestricted purpose loan are loaned on to the New Mode l S chool when required and are only due for repaymentonce the New Mode l School has made a trading surplus and has sufficient working capi tal to enable it to makesuch repaymen t; at 31 December 2006 the amoun t owed to Civitas was 69,648 (2005 -17,515). In March2006, New Model S chool sig ned a three-year lease on its school prem ises, term inab le on one-term 's notice, ata rent of 13,575 per annum; Civ itas, a long with another unrelated party, is a guarantor of the rent paid on thislease by the New Model School (2005 -13,575). In November 2006, New Model S chool took ou t a second,one-year, lease on adjoining prem ises a t an annual rent of 12,000, and Civ itas has agreed to p ay this rent andthe associated business rates on this property; du ring the year 1,000 was paid, shown as an expense in theNew Model School Loan Fund within restricted funds (2005 -Nil) . In addit ion, a c harg e of 5 ,0 00 was made toNew Model Schoo l for the use of Civitas adm inistration staf f (2005 -Nil).

civitas accounts 2006

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