Trustees Report and Financial Statements

Under its rules ARC (Association for Real Change) has to prepare a report every year on how it is run and to show a summary of how much money it has received and paid. This is known as The Trustees Report and Financial Statements

The report uses both words and numbers and has to be in a set layout so it is consistent from year to year and can be compared to other similar organisations.

As a Charity with responsibility for looking after money, there are lots of things that have to be included which make this a long report and has a number of different parts;

  • A description of why ARC was set up and what it does
  • Confirmation that it has good controls over the money it receives and spends
  • A statement showing its total income (money received) and expenditure (money spent) in the year
  • A statement showing the assets it has (things we own that have value) and its liabilities (money that is owed to other people)
  • There are lots more notes and numbers that help some people, like accountants and regulators, understand the report in more detail
  • Trustees have to be satisfied that the people preparing the report have the right skills and experience
  • An independent expert (known as an auditor) also checks the report and ARC’s records to confirm everything looks okay
  • The Treasurer will recommend the report is approved by the Board

The final report is shared at the Annual General Meeting (AGM) and with anyone else who wants to know what has happened in the last 12 months.

Along with other information, the report is shared on our website ( and by some of our regulators such as the Charity Commission Charity overview, THE ASSOCIATION FOR REAL CHANGE – 285575, Register of Charities – The Charity Commission


Download ARC Trustees’ Report and Financial Statements 2022-23