civitas accounts 2007

8/8/2019 Civitas Accounts 2007

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIEW(Registered Charity number 1085494)(Company limited by Guarantee, Registration numbel'4023541)

REPORT AND FINANCIAL STATEMENTSFOR THE YEAR ENDED31 DECEMBER 2007


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CIVITAS LIM ITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETY CONTENTS

Page

Legal and Adm inistrative Inform atlon 2

Report of the Trustees 3-6

Repod of the IndependentAuditors

Statement of Financial Activities 8

Balance Sheet

Accounting Policies

Notes to the Financial Statem ents 11 - 14


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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETY LEGAL AND ADMINISTRATN E INFORMATION

Trustees/DirectoO of the Charitable CompanyChairmanDeputy ChairmanTreasurer

The Honourable Justin ShawSir Peter W altersThe Hon Mrs Silvia Le MarchantMeg AllenPatrick BarbourIvan BradburyDr Philip BrownProfessor Kenneth MinogueDouglas Myers CBELord Vinson of Roddam Dene

Other Officers of the CharityExecutive DirectorDeputy Director Dr David GreenRoberl W helan

Com pany Secretary Dr David Green

Registered Office 77 Great Peter StreetLondon SW IP 2EZ

W ebsite Address www.civitas.orn.uk

Bankers Barclays Bank plcPall Mall Corporate Banking CentrePO Box 15163London SW IA 1QDThe Cooperative BankPO Box 250Skelmersdale W N8 6W TCOIF Charities Deposit FundCCLA Investment Management Limited80 CheapsideLondon EC2V 6DZ

LiolejohnChartered Accountants and Registered Auditors1 W estferry CircusCanary W harfLopdon E14 4HD1085494

Independent Auditors

Charity Registration Number

Company Registration Number 4023541

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETY

The Trustees (who are also the Directors of the Charitable Company Limited by Guarantee) present their report forthe year ended 31 December 2007 The presentation of the Financial Statem ents reflects the requirements of theStatement of Recommended Practice - Accounting and Reporting by Charities (issued in March 2005), theCompanies Act 1985, and the Charity's governing document as outlined belowStatement of Trustees' Responsibilities

REPORT OF THE TRUSTEESYear ended 31 December 2007

The Trustees are responsible for preparing the Annual Repoft and the Financial Statements in accordance withapplicable law and regulationsCompany Iaw requires th Trustees to prepare Financial Statements for each financial year Under that Iaw theTrustees have elected to prepare the Financial Statements in accordance with United Kingdom GenerallyAccepted Accounting Practice (Unted Kingdom Accounting Standards and applicable law) The FinancialStatements are required by Iaw to give a true and fair view of the state of affairs of the Company and of thesurplus or deficit of the Company for that period In preparing these Financial Statements the Trustees arerequired to:

select suitable accounting policies and then apply them consistently'make judgements and estimates that are reasonable and prudent'* state whether applicable accounting standards have been followed;prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that theCompany will continue in operatlon

The Trustees are responsible for keeping proper accounting records, for safeguarding the assets of the Companyand for the prevention and detection of fraud and other irregularitiesConstitution and ObjectivesCivitas Limited, also known as the Institute for the Study of Civil Society, is established under its Memorandum andAdicles of Association dated 29 June 2000 and am ended on 23 November 2000, and is a registered charity,number 1085494.Details of the Com pany's current Trustees, other Officers and Advisors are set out on page 2 Meg Allen and IvanBradbury were appointed as additional Trustees on 22 May 2007 and 11 September 2007 respectivelyUnder the Company's Memorandum of Assocation,the Charity is established to advance the study andunderstanding of religion and ethics in Society and any other charitable purposeOrganisation of the CharityThe Trustees supervise the management and adm inistration of the Charity The day to day running of theCharity is delegated to the Executive Director and his Deputy.Trustees with relevant experience and expedise are recruited on merit from among those with a demonstratedcommitment to the aims of the charityReview of the Year's Achievements and PerformanceAs stated above, the Charity's principal objectives are to advance the study and understanding of religion andethics in Societv and any other charitnble purpose 10 order to achieve its Objectives the Charity does the follovzing:

@ Discovers solutions to social problem s.. Implements pioneering projects to demonstrate what can be accomplished. Supplies schools with teaching materials and guest speakers@ Supports informed publc debate and encourages consensus by:o Providing accurate factual information on today's social issueso Publishing informed comment and analysiso Bringing together Ieading protagonists in open discussion


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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIERln 2007 the Charity's objectives were achieved by the following activities:

The issue of the following publications:. ''Spiritual Capltal'' by Duncan Reekie (January). ''W ho Cares'' by Nick Seddon (February). Civitas Review - ''After Thatcher and Blair'' by David Green (February). 'iA Nation of Immigrants?'' by David Conway (Aprfl)''On Fraternity'' by Danny Kruger (April)''Corruption of the Curriculum'' edited by Robert W helan (June)Online Report - ''Artificial Achievement (Blair's Education Policiesl'' by Anastasia de Waal and NickCowen (June 2007)aHate on the State'' by Douglas Murray and James Brandon (August)Online Reports - ii-l-he Results Generation'' by Anastasia de W aal and Nick Cowen and ''Faking it at KeyStage 2'' by Anastasia de Waal (August)@ Online Repod - ''Ready to Read? (Phonics and poor literacy teaching) by Nick Cowen and Anastasia deWaal (September). Online Repods - ''Innovation needs Competition'' & tilust how well are we?'' by James Gubb (October)* ''Quite Like Heaven'' by Nick Seddon (November)

REPORT OF THE TRUSTEESYear ended 31 Decem ber 2007

The holding of the following seminars:* Neil Addison - 'Anti-Discrimination Laws' (February)@ Nick Cohen - fWhat's Ieft of the Lefo' (March)@ David Perks - 'Science Education: W hat is it for'?' (March)* Charles Murray and Frank Field - 'Welfare Reform' (ApriI)* Syed Kamall - 'W hat Prospects for a Liberalised Europe'?' (May)@ Paul Mason - 'Globalisation' (June)@ Shiv Malik - 'lslam' (JuIy)* Larry Elliot and Dan Atkinson - lFantasy Island' (JuIy). John Petri - 'How can we make the NHS more Innovative?' (JuIy)* Julian Le Grand - dchoice in Education' (JuIy)* Iba Warraq - 'W hy l am not a Muslim' (October)@ Robert Naylor - 'The Foundation Experiment and UCHL: has it worked?' (October)* Andrew Anthony - 'How a Guilty Liberal Lost his Way' (October)* Nonie Darwish - 'Guest Discussion' (November)@ Ayaan Hirsi AIidebate with Ed Husan (November)@ David Green and Lisa Harker - 'Welfare to Work' (December)EU Project:A total of over 137 EU events were held in schools (118 talks and 19 debates) across the country, with 84speakers actively padicipating in the programmeEU Facts (an education resource containing 70 factsheets explaining the development of the EU, its institutionsand policies) was produced as a CD-ROM and 180 copies were sent to those schools padicipating in theprogram me, while many more students and teachers accessed the factsheets online Feedback has beenovervvhelmingly positive, focusing primarily on the resource's simple format, relekance to A-level cul-fcula andim padiality.The second Natonal 6th Form Conference on the EU1 entitled 'dEmerging from its period of reflection: W hatdoes the future hold for the EU?''I was held at the Emmanuel Centre in W estminster on 8 March 2007 621students, from 41 schools attended and received a series of Iectures and debates featuring a number ofspeakers, including Kenneth Clarke QC MP and Lord Pearson of RannochA meeting on 'The Europeanisation of Culture and Education' was held in conjunction with Global Vision inNovember The event featured an explanation by Chris Heaton-Harris MEP of the EU institutions'increasingly prom inent interventons in member states' school curricula in order to present a favourableimpression of the Union


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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIEWThe New Model School:Because polfcy makers have been so slow to raise standards for children from Iow-income households,w ehave founded the New Model School Company to bring prvate education within the reach of the vastmajority of parents by making high quality primary schooling available at the Iowest possible price. Inaddition, we aim to show that direct teaching by traditional methods is mcre effective than teaching based on'discovery', under which children are supposed to Iearn for themselves wjth the teacher as facilitator,ratherthan a professional who imparts knowledge The first New Model School, called Maple W alk School, wasestablished on a small scale in September 2004 in Queens Park. ln 2005 it moved to Iarger premises inKensal Town A site in Harlesden has been purchased by a charitable trust to build premjses for itsexpansion to seven year-groups.Its success has encouraged us to attempt to replicate the m odel in otherareas of London and outside. The New Model School Company Limited is a separate company,in whichCivitas Limited has no interest in its issued shares' note 10 to the financial statements sets out furtherdetails about the com panySupplementary Schools Project:

REPORT OF THE TRUSTEESYear ended 31 December2007

'The supplementary schools project helps disadvantaged children reach their full academic potential, raisetheir aspirations and open up oppodunities to give them , and their communities,a better futureMost of the children adending our supplementary schools are underachieving academically. Their parentsare often not highly educated and Iack the knowledge and oppodunities to help their children succeedacademically. Our high-quality teachers use traditional teaching methods and materials,concentrating onreading by phonics and mental arithmetic W e emphasise self-discipline,coudesy and consideration forothersAt the end of 2006 we were running four classes in London. ln 2007 we opened six more classes -Hammersmith, Keighley, Sgarkhill, Bradford, Camberwell and Kilburn We also run additional classes durngthe school holidays 280 chlldren were benefiting from the project by the end of 2007W e continue to see excellent results.In the 2007 summer school the reading age of the younger childrenimproved by an average of one year and nine months in just a two week periodIn 2007 we won two awards for the project: a Templeton Freedom Award for Social Entrepreneurship and aCentre for Social Justice award for excellent work in addressing important social issuesLondon Boxing Academy Community Project:The London Boxng haS continued to grow and develop in 2007 From humble beginnings the course nowworks with 24 students from years 10 and 11 and includes academic Iessons in English,maths, ICT, art,historyr economics, statistics, science and music ln order to provide this Ievel of service we now have ninepermanent staff and a host of volunteers Alongside providing boxing, spod and academjcs, the LBA hasalso encouraged students to reform their behaviour with a range of methods that include mentors,fieid tripsand community involvement This year has seen a week-long multi-activity trip to Devon, a day trip to theBank of England as well as outings for go-karts and paintballing The year also saw 7 students sit and passtheir AQA adult Iiteracy and maths exams as well as the bulk of the preparations for ten students to sit theirGCSE exams in the summer of 2008.

These actvities are continulng in 2008.Financial Posltion and Reserves PolicyAt 31 December 2007 the Company had net assets of E1,049r085 (2006 - E786:.056.yrepresented by unrestrictedI purpose funds of E479 325 (2006 - :446,190) and restricted funds of E569,760 (2006 - :339,866).Theseenera idered available and alequate to fulfil the obligations of the charity for the foreseeable futurere consThe policy of the Trustees is to maintain a financial reserve up to the equivalent of an average year's expenditure,to be exceeded only for specified purposes such as provision for premises or projects subject to restricted funding

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETY!REPORT OF THE TRUSTEES tYearended 31 December2007 !li!!isk Management

The Trustees confirm that they have identified and reviewed the major risks to which the Charity is exposed, andhave established systems to mitigate those risksThe principal risk facing the Charity is that it does not raise sucient income to be able to cover the cost ofcharitable activities and governance costsDisclosure Qf Information to AuditorsSo far as each Trustee is aware, there is no relevant audit information of which the Company's auditors areunaware, and each Trustee has taken alI the steps that he ought to have taken as a Director of the Company inorder to make himself aware of any relevant audit information and to establish that the Com pany's auditors areaware of that infofmationAuditolsSince the previous Annual General Meeting our auditors, CLB Littlejohn Frazer, have changed their name toLittlejohn A resolution to reappoint Littlejohn will be proposed at the next Annual Genera! MeetingOn behalf of the Trustees

Jc-+a..-oThe Honourable Justin ShawChairman

'7.-1 May 2008

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETYINDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CIVITAS LIMITEDW e have audited the Financial Statements of Civitas Limited for the year ended 31 December 2007, whichcomprise the Statement of Financial Activities, the Balance Sheet, and the related notes num bered 1 to 10These Financial Statements have been prepared under the accounting policies set out therein

REPORT OFTHEINDEPENDENT AUDITORS

This repod is made solely to the Company's members, as a body, in accordance with Section 235 of theCompanies Act 1985.Our audit work has been undedaken so that we might state to the Company's membersthose matters we are required to state to them in an auditor's repod and for no other purpose To the fullestextent permitted by Iaw, we do not accept or assume responsibility to anyone other than the Company and theCompany's members as a body, for our audit work, for this repod, or for the opinions we have formedRespective Responsibillties of Trustees and AuditorsThe Trustees' responsibilities for preparing the Financial Statements in accordance with applicable law, UnitedKingdom Accounting Standards and the Charities' Statement of Recommended Practice (United KingdomGenerally Accepted Accounting Practice) are set out in the Statement of Trustees' ResponsibilitiesOur responsibility is to audit the Financial Statements in accordance with relevant Iegal and regulatoryrequirements and lnternational Standards on Auditing (UK and Ireland)W e repod to you our opinion as to whether the Flnancial Statements give a true and fair view and are properlyprepared in accordance with the Companies Act 1985 W e also report to you whether, in our opinion,theinformation given in the Trustees' Report is consistent with the Financial Statem entsln addition we repod to you if, in our opinion, the Company has not kept proper accounting records if we havenot received all the information and explanations we require for our audit, or if information speclfied by Iawregarding Trustees' remuneration and other transactions is not disciosedW e read the Trustees' Report and consider the implications for our report if we become aware of any apparentmisstatements within itBasis of OpinionWe conducted our audit in accordance with International Standards on Auditing (UK and Ireland), issued by theAuditing Practices Board. An audit includes an examination, on a test bass, of evidence relevant to the amountsand disclosures in the Financial Statem ents lt also includes an assessment of the slgnificant estimates andjudgments made by the Trustees in the preparation of the Financial Statements, and of whether the AccountingPolicies are appropriate to tlne Company's circumstances, consistently applied and adequately disclosedW e planned and performed our audit so as to obtain aII the information and eyplanations which we considerednecessary in order to provide us with sufficient evidence to give reasonable assurance that the FinancialStatements are free from material misstatem ent, whether caused by fraud or other irregularity or error, Informing our opinion we also evaluated the overall adequacy of the presentation of information in the FinancialStatementsOpinionIn our opinion the Financial Statements give a true and fair view, in accordance with United Kingdom GenerallyAccepted Accounting Practice, of the state of the Company's affairs as at 31 December 2007 and of itsincoming resources and application of resources, including its income and expenditure, for the year then ended,and have been properly prepared in accordance with the Companies Act 1985 in our opinion the informationgiven in the Trustees' Report is consistent with the Financial Statements.l

.1aThe Honourable Justin Shaw Trustee

.v y.The Hon Mrs Silvia Le Marchant TrusteeThe Accounting Policies and Notes on pages 10 to 14 form part of these Financial Statements

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETYBasis of accountingThe Financial Statem ents are prepared under the historical cost convention apad from fixed asset investments,which are stated at market value, and in accordance with the Companies Act 1985. the Charities Act 1993, theStatement of Recommended Practice - Accounting and Reporting by Charities (issued in March 2005), andapplicable accounting standards The specific accounting policies adopted are set out below.Incoming resources

ACCOUNTING POLICIES

Donations and subscliptions are included as income as soon as they are received, unless the donor has mposedpre-conditions on the use of the funds,in which case the donations are carried forward until the pre-conditions aremet Grants and statutory funding are recognised once the resource is receivable by the charity and can bemeasured with reasonable reliability Gifls in kind, such as assets given for use by the charity are recognised asincome when received and are recorded at their estimated market value Assets given for distribution by the charityare recognised as income when distributed Voluntary help is not recognised in the Statement of FinancialActivitiesResources expendedAII expenditure is accounted for on an accruals basis Staff salaries are allocated to charitable activities orgovernance costs on a time-spent basisDepreciationDepreciation is provided on alI tangible fixed assets at rates catulated to write off the cost of each asset, Iess anyresidual valuel evenly over its expected useful life Ofice furniture and equipment has an expected usefulIife ofbe- een 3 and 5 yearsStocksStocks are valued at the Iower of cost and net realisable value.Operating IeasesRentals paid under operating leases are charged to income as incurredTaxationAs a charity, Civitas Limited is generally exempt from taxation with the exception of Value Added Tax The charity isregistered for VAT and expenditure is stated excluding the related VATFund accounting - restricted, designated and unrestricted fundsRestricted funds comprise donations and grants that have been received for specific purposes or have beensubject to specific conditions imposed by the donor Designated funds comprise unrestricted funds set aside by theTrustees for specific purposes Unrestricted funds may be used for the purposes of the charity at the Trustees'discretionInvestm entsInvestments are included in the Financial Statements at their market value Unrealised gains and Iosses areincluded in the Statem ent of Financial Activities and are computed by reference to the market value of theinvestments at the beginning of the year Gains or Iosses arising from the sale of investments are shown asrealisedPension ContributionsThe Charity operates a defined contribution pension scheme for certain of its senior employees The funds ofthe scheme are administered by Trustees and are separate from the Charity Contributions are paid by theCharity and employees The pension charge represents contributions payable by the Charity for the year TheCharity's Iiability is Iimited to the amounts of the contribution

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CIVITAS LIM ITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIEW NOTES TO THE FINANCIAL STATEMENTS

Information regarding Trustees and EmployeesStaff costs:W ages and salaries, including benefitsSocial security costsPension contributions

2007 2006

476,06051 ,41917,409309,85632,74115,895

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

There was one employee with emoluments for the year in the range E80,000 to E90,00O (2006 - one between:80,000 and E90,00O). ln addition, the charity paid E10,735 (2006 - 29,471) in the year for the provision ofmoney purchase pension benefits for this employee No other employees received emoluments for the year inexcess of :50,000 (2006 - NiI) The Trustees were not remunerated, and did n0t reclaim any expenses in theyear (2006 - NI)

2544,888 2358,49215 12

2 Governance Costs 20:7 2007Unrestricted RestrictedFunds FundsAccountancyBank chargesDepreciationIndependent auditors' remunerationInsurancePostageRentStaff salaries - administrationStationery and computer suppliesSundry expensesTelephone

1,0583,4132,00047810,98625,66925,6014,8731,4371 1954

277,469

2007 2006Total TotalFunds Funds1,058 1,290

- j ,1683,413 5,4442,000 1,900478 66310,986 17,72225,669 31,42825,601 18,8004,873 6,0111,437 1,5331 ,954 1 ,563

:77,469 :87,522

3 Operating Lease ObligationsThe minimum Iease payments to wbich the Company is committed under a non-cancellable operating Iease forthe coming year total E28,120, on a property Iease expiring more than five years from the balance sheet date(2006 - * 8,120)


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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIER NOTES TO THE FINANCIAL STATEMENTS

4 Tangible Fixed AsselCostAt 31 December 2006AdditionsDisposals

At 31 Decem ber 2007

Office furnitureandequipment26:4214,107(4,511)26,017

DepreciationAt 31 Decem ber 2006Charge for the yearDisposalsAt 31 Decem ber 2007Net Book ValueAt 31 December 2007

23,3953,413(4,51 1)22,297

E3,720

E3,026t 31 December 2006

The Company had no capital commitments at 31 December 2007 (2006 - NiI)5 Fixed Asset Investments

Quoted investmenl:Market value at 31 December 2006DisposalsRealised surplus on investment soldIncrease in market value

2007 2006

Market value at 31 December 2007

Historical cost/orjginal market valpe when donated to the Company

6 Rent DepositThe rent deposit of 25 325 is subject to a charge created on 14 May 2007, under a deed in favour of The Britishand Foreign Bible Soclety, as security for al1 monies due under the terms of a Iease expiring on 21 March 2014It is thus recoverable after more than one year

6,194(6,740)5465,524

670

E- E6,194

E- E4,794

Restricted Purpose LoanThe Company has received a Ioan from a charitable trust for the purpose of supporting the development of theNew Model School The loan is unsecured, interest free, and has no fixed repayment date, although the trusthas confirmed that no repayment would be sought until at Ieast 1 January 2009, and only then if the New ModelSchool has made a trading surplus and is able to repay aII or paft of its associated loan from the Com pany

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIETY NOTES TO THE FINANCIAL STATEMENTS

8. Restricted Funds

Centre For Social Cohesion Project FundCommunity Studies Projed FundDyslexia Bursary Project FundEuropean Relations Project FundFamly Studies Project FundHealth Alternatives Project FundLondon Boxing Academy Project FundNew Mode! School Project FundNew Model School Bursary FundOur Island Story Project FundSupplementary Schools Project FundTotals

The Centre For Social Cohesion Project Fund was set up to encourage racial and religious harmonyThe Community Studies Project Fund was set up to suppod work on a study of the moral and cultural roots of afree society

Balance at Balance at31 December 31 December2096 lncom e Expenditure 2007428,092 (274,669) 153,423

20,000 20,00010,000 20,000 (11,064) 18,93653,330 68,721 (27,526) 94,52510,324 37,330 (10,324) 37,33036,149 8,250 (29,993) 14,406

53,875 (41,633) 12,24210,739 (10,739)

6,960 6,96019,875 (4,953) 14,922183,228 1791677 (165,889) 197,016:339,866 E806,684 E(576,790) E569,760

The Dyslexia Bursary Fund was set up to provide teaching support for young people with special educationalneeds, especially but not only, dyslexiaThe European Relations Project Fund was set up to provide a network of speakers for schools and universitieson issues relating to our relations with other European countries, and to provide teaching materials about theEU for schoolsThe Family Studies Project Fund was set up to advance study of the family and marriageThe HeaIth Alternatives Project Fund was set up to cover the cost of studying overseas health systems todiscover the Iessons for BritainThe London Boxing Academy Project Fund was set up to educate children who have been permanentlyexcluded from schoolThe New Model School Project Fund was set up to was set up to support the work of the New Model School inproviding high quality private education for the children of parents on 1ow incomes.The New Model School Bursary Fund was set up to provide educational opportunities for children from Iow-income backgrounds at the New Model School or elsewhere.The Our lsland Story Project Fund was set up to encourage schools to teach narrative history, especially byusing the book,Our lsland Story by H E MarshallThe Supplementary Schools Project Fund was set up to support a neYork of supplementary schools held onSaturdays or after school on weekdays to teach mainly (but not only) English and maths to children who havefallen behind the expected standard for their age

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CIVITAS LIMITEDTHE INSTITUTE FOR THE STUDY OF CIVIL SOCIEW NOTES TO THE FINANCIAL STATEMENTS

9 Analysis of Total Funds Tanqible Net CreditooFlxed Current Due AfterAssets Assets One Year TotalRestricted funds:Centre For Social Cohesion Project FundCommunity Studies Project FundDyslexia Bursary Project FundEuropean Relations Project FundFamily Studies Project FundHeaIth Altematives Project FundLondon Boxing Acadely Project FundNew Model School Bursary Project FundNew Model School Restricted Purpose LoanOur Island Stol Project FundSupplementary Schools Project Fund

153,423 153,42320,000 20,00018,936 18,93694,525 94,5253/,330 37,33014,406 14,40612,242 12,2426,960 - 6,960125,000 (125,000) -14,922 - 141922197,016 197,016- 694,760 (125,000) 569,7603,720 475,605 - 479,325

:3,720 :1,170,365 E(125,000) E1,049,085Unrestricted funds

Total funds

10 Related PadiesThe Chairman of the Board of Trustees and the Deputy Director of Civitas Limited are both also Directors ofThe New Model School Company Limited (''New Model Schooln), a separate company set up during 2004 as aresult of a Civitas project Civitas has no interest in the shares issued by New Model Schoo! The registeredoffice of New Model School is at the same address as Civitas, and a member of staff of New Model Schoolworks at that oce, although no contribution to rent is currently paid to Civitas Civitas had no legal or financialobligations to New Model School as at 31 December 2007 (2006 - 2Nil) Funds raised by Civitas for the benefitof the New Model School Project are spent at the discretion of Civitas, but funds received by way of therestricted purpose Ioan are loaned on to the New Model School when required and are only due for repaymentonce the New Model School has made a trading surplus and has sufficient working capital to enable it to makesuch repayment' at 31 December 2007 the amount owed to Civitas was E72,664 (2006 - E69,648) In March2006, New Model School signed a three-year iease on its school prem ises, terminable on one-term's notice, ata rent of E13,575 per annum; Civitas, along with another unrelated pady, is a guarantor of the rent paid on thisIease by the New Model School (2006 - 213,575) ln November 2006, New Model School took out a second,one-year, Iease on adjoining premises at an annual rent of E12,000, and Civitas has agreed to pay this rent andthe associated business rates on this property' during the year E12,558 was paid, shown as an expense in theNew Model School Loan Fund within restricted funds (2006 - E1,0O0). In addition, a charge of E5,000 wasmade to New Model School for the use of Civitas administration stas (2006 - E5,OO0)

civitas accounts 2007

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