2024-03-31-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Company number: 3079904 Charity Number: 1049160

Anti-Slavery International

Report and financial statements For the year ending 31 March 2024

Anti-Slavery International

For the year ended 31 March 2024

REFERENCE AND ADMINISTRATIVE INFORMATION ............................................................................ 3 TRUSTEES’ ANNUAL REPORT .................................................................................................................... 4 INTRODUCTION ......................................................................................................................................... 4 OBJECTIVES ................................................................................................................................................ 5 OUR 2020-25 STRATEGY AND APPROACH ....................................................................................... 6 OUR WORK IN 2023-24 ........................................................................................................................... 7 Ending Child Slavery ............................................................................................................................ 7 Responsible Business ........................................................................................................................... 8 Migration and Trafficking .................................................................................................................... 9 Slavery and Climate Change ............................................................................................................. 11 FUNDRAISING AND COMMUNICATIONS .......................................................................................... 11 RISK AND FINANCE ................................................................................................................................ 12 Risk Management ................................................................................................................................. 12 Finance Review ..................................................................................................................................... 13 Reserves Policy ..................................................................................................................................... 14 Going Concern ....................................................................................................................................... 14 STRUCTURE, GOVERNANCE AND MANAGEMENT ......................................................................... 14 Remuneration Policy for Key Management Personnel ................................................................... 15 Key Personnel Changes 2023/24 ...................................................................................................... 15 Statement of the Responsibilities of the Trustees .......................................................................... 15 Plans for 2024/25 ................................................................................................................................. 16 INDEPENDENT AUDITOR’S REPORT……………………..………………………………………………………………….……….17 STATEMENT OF FINANCIAL ACTIVITIES ………………………………………………………………………………….....……21 BALANCE SHEET …………………… ……………………………………………………………………………………………..………..…….22 STATEMENT OF CASHFLOWS …………………………………………………………………….………………………….….…..…..23 NOTES TO THE FINANCIAL STATEMENTS ………….…………………………………………….…………………….……..…24

Anti-Slavery International

Reference and administrative information

For the year ended 31 March 2024

REFERENCE AND ADMINISTRATIVE INFORMATION

Company number	3079904
Country of incorporation	United Kingdom
Charity number	1049160
Country of registration	England and Wales
Registered office	The Foundry
and operational	17 Oval Way
address	London
	SE11 5RR
Trustees	Trustees, who are also directors under company law, who served
	during the year and	up to the date of this report were as follows:
	Sunil Sheth	Chair
	Roxanne Abdulali	resigned 31 December 2023
	Peter Freedman	Treasurer
	Sarah Dalton	appointed 22 July 2024
	Tom Palakudiyil
	Ben Rawlings
	Adil Shah	resigned 22 July 2024
	Soumya Singh
	Judy Lister
Principal staff	Jasmine O’Connor	Chief Executive Officer
		(resigned 13 September 2024)
	Donna Covey	Interim Chief Executive Officer
		(appointed 9 September 2024)
Bankers	Barclays Bank PLC,	P.O. Box 270, London, SE15 4RD
Auditor	Sayer Vincent LLP,	Chartered Accountants and Statutory Auditors,
	110 Golden Lane, London EC1Y 0TG
Solicitors	Stone King LLP, Boundary House, 91 Charterhouse Street, London,
	EC1M 6HR

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

TRUSTEES’ ANNUAL REPORT

INTRODUCTION

The trustees present their report and the audited financial statements for the year ended 31 March 2024.

Over the course of the year, we saw continued progress in our campaigns with new EU laws to protect workers in global supply chains. We will continue to work for these laws to be strong.

This year, we were able to fully launch our new work to address the system of Kafala, which controls and exploits tens of millions of workers in the Gulf Co-Operation Countries. Our work on climate change and slavery continued to build, with more organisations taking up our positions and pressing for the inclusion of the issues in climate change negotiations.

In Mauritania, we worked with our partners in Mauritania to secure the adoption of a law creating an additional specialised Tribunal to Combat Slavery, Human Trafficking and Migrant Smuggling. When passed, this will mean greater accountability for those responsible for slavery.

The military coup in Niger in the summer of 2023 meant we needed to flex our work on child slavery there. We were able to support partners and ensure the work continued, albeit at a reduced rate. In Mali, which also had a coup in 2021, significant progress was made when the Government agreed to draft new landmark legislation to tackle slavery.

In the UK we worked closely with partners across the sector to call for an end to policies and laws which penalise survivors of modern slavery. We prepared ourselves for the UK election period to make sure our issues were communicated to all major parties.

Our income grew to £4.4m, and we sold our freehold property, building our reserves and moving to a more agile office which better supports hybrid working.

We are grateful to all our donors, supporters, members and partners for their steadfast commitment.

This report and financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice – Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

The report and financial statements also comply with the Companies Act 2006 as the company was incorporated by guarantee on 14 July 1995 as Anti-Slavery International Ltd. It has no share capital and is a registered charity.

Reference and administrative information set out on page 3 form part of this report.

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

OBJECTIVES

The trustees confirm that they have complied with the duty in Part 1, Section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit.’

Anti-Slavery International, founded in 1839, is the world's oldest international human rights organisation.

The Charity’s objects are:

The elimination of slavery, the slave trade and all forms of unlawful forced labour and unlawful deprivation of freedom as from time to time mentioned in the Slavery Convention of 1926, the Supplementary Convention on the Abolition of Slavery, the Slave Trade, and Institutions and Practices Similar to Slavery of 1956 and any other international treaties conventions or covenants prepared and executed or signed under the auspices of the United Nations; and
The advancement of public education concerning the rights of indigenous peoples; and
The advancement of public education concerning human rights as set forth in the United Nations Universal Declaration of Human Rights of 1948 and concerning human rights abuse.

VISION, MISSION AND VALUES

Vision: Freedom from slavery for everyone, everywhere, always

Mission: We exist to make ending slavery everyone’s concern. We are an ally to survivors and people at risk of slavery. Together, we challenge and change law, policy, and practice so everyone, everywhere can be free from slavery.

Values:

Dynamic

We commit to learning and continuous improvement and do not assume yesterday’s ideas will work today. We are flexible, open-minded, take calculated risks and respond to opportunities.

Inclusive

We believe that everyone has a role in ending slavery, we make sure every voice is respected and nurture diverse perspectives and partnerships to create better solutions. We make sure that those with direct experience of slavery and survivors inform our work.

Transformative

We are determined, taking considered and courageous action that has lasting, systemic impact with humans at its heart.

Anti-Slavery International Trustees’ Annual Report For the year ended 31 March 2024

OUR 2020-25 STRATEGY AND APPROACH

We have identified five strategic priorities that ASI and the wider anti-slavery movement need to address to help power international efforts to end slavery:

i. System Change

We want to see sustainable, long-term change to the root causes and systems which underpin and drive slavery. Systemic change must involve all actors, including governments, businesses and civil society, and changes must have effect in law, policy, and practice.

ii. Survivors’ voice

Survivors’ voices are crucial to understanding and addressing slavery. Effective and ethical survivor engagement must be the norm, throughout our movement.

iii. Movement Building

To be most effective in a changing world, the global anti-slavery movement would benefit from more effective coordination and more coherent planning. Power needs to be distributed more fairly across the movement with more representation of survivor-led and southern-led organisations in global policymaking.

iv. Framing the issue

The current and emerging movement has placed slavery on political agendas, but more work is required to create effective ways of presenting issues, so they remain a priority, responses are galvanised, and change is secured.

v. Legal Frameworks

International human rights instruments are under threat globally and are not being used to their full extent to end slavery. While most countries have ratified instruments to end slavery, only 55% have enacted legislation to put those rights into practice. Where domestic legislation does exist, it is underutilised to prevent slavery and protect victims.

Anti-Slavery International will draw on our long history of solidarity and activism, experience of working with anti-slavery movements, survivors and survivor-led organisations and expertise and understanding of slavery in multiple contents over the next five years. We will work to address these strategic priorities both at a global level and in the context of our focus themes:

Ending child slavery
Responsible business
Migration and trafficking
Slavery and climate change

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

OUR WORK IN 2023-24

We worked on strategic priorities across all of our priority themes. We partnered with 44 organisations working in 18 countries and with six partners working globally. Nine of our partners were coalitions within which we played a leading role, and these represented a further 238 organisations in the global anti-slavery movement.

Ending Child Slavery

Eliminating Slavery in Child Domestic Work (Ghana, Tanzania)

Domestic work is a sector which is particularly vulnerable to slavery and exploitation because it takes place inside private households and is typically combined with a lack of legal protection. Child domestic workers (CDWs) are particularly vulnerable.

Our work with partners on changing systems at a local level to prevent exploitation and support victims in Ghana and Tanzania wrapped up towards the end of this year. The final evaluation confirmed that the project had contributed to reducing the abuse and exploitation of CDWs. This included both employers and CDWs gaining a clearer understanding of their rights and positive shifts in employer behaviour, with many now fostering caring and supportive environments for CDWs. There were also improved perceptions and attitudes towards CDW within communities more broadly and a growing inclination to approach community leaders and committees to report cases of exploitation.

The project's collaboration with local and sub-national stakeholders also led to new policies, such as the creation of by-laws in Tanzania to hold employers accountable for abuse, and the creation of local committees in Ghana playing a pivotal role in enforcing guidelines and policies related to CDW.

Exploitative Child Domestic Work and Forced Child Marriage (Nepal and Tanzania)

Throughout 2023, Anti-Slavery International and partners in Nepal and Tanzania conducted ground-breaking pilot research into the links between child domestic work and child marriage. From this, we aim to develop further work to improve the effectiveness of holistic interventions to tackle both child domestic work and child marriage globally. In particular we aim to identify and reach those most vulnerable to the worst cases of child labour that amount to child slavery and forced labour.

Descent Based Slavery (Niger, Mauritania and Mali)

We work with partners and communities of slave descent in all three countries to improve legal protection and tackle the poverty, discrimination, prejudice and lack of access to opportunities that fuel descent-based slavery practices.

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

In Mauritania, ongoing advocacy efforts by our partners, SOS Esclaves, and Anti-Slavery International led to the adoption of a law in March 2024, creating an additional specialised Tribunal to Combat Slavery, Human Trafficking and Migrant Smuggling. The aim is to ensure greater efficiency in handling slavery crimes and address existing shortcomings in the implementation of the country’s law No. 2015-031 Instituting the Criminalisation of Slavery and Punishing Slaverylike Practices .

Following advocacy by our partners, the Mauritanian Government also set up an aid and assistance fund for victims of trafficking in April 2024 through the National Authority for the Fight against Human Trafficking and Migrant Smuggling. An initial group of people of slave descent received money through this fund (MRU 100,000 - £1968,76), which will be used to start income-generating activities and contribute to their empowerment. Our partners provided support to recipients to help them manage their funds.

People freed from slavery and marginalised groups face many difficulties in obtaining basic identity documents, and this is a key barrier that prevents people from accessing relevant state programmes and services. National and international advocacy efforts also led in 2023 to the Mauritanian Government launching a campaign to encourage civil registration for individuals. They also created several mobile units to facilitate official ID registration along with simplified requirements for obtaining identity documents. We will monitor their impact in the coming year.

The military coup in 2023 significantly impacted our work in Niger this year, not least preventing us from visiting in person. Nevertheless, we have been producing regular situation updates from our partners ‘on the ground’ and have been able to adapt our programming to enable the work to continue. We are confident that we will see progress in the coming year.

In Mali, despite the military coup that took place in 2021, we have seen positive steps towards ending slavery. Following many years of our campaigning, including leveraging pressure from UN and EU experts, we were pleased to see that the transitional Government of Mali has set up a new commission of experts to draft this new, landmark legislation. The commission included our local partners, Temedt, and was supported by Anti-Slavery International and the International Labour Organization. The new law is now in the process of being adopted.

Responsible Business

Legislative Change

Modern supply chains are complex and create conditions where slavery can thrive – aided by the continual urge to drive down costs and deliver shareholder profits. At least 17.3 million women, men and children are in forced labour in the private sector worldwide.

On 21 June 2022, the Uyghur Forced Labor Prevention Act came into force in the US. This bans all companies from importing goods tainted with Uyghur forced labour into the USA. As the law comes into effect, Anti-Slavery International and our allies are urging companies not to dump Uyghur forced

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

labour goods into other markets which lack equivalent strong laws , such as the EU and UK, and for governments around the world to introduce strong import laws to prevent this happening.

We have gained traction on this in the EU but the European Commission’s proposals to ban forced labour imports do not go as far as we would like. They fail to put workers at their heart and do not extend to state-enforced forced labour. We will continue to press for more progress.

We intensified our campaign for the EU to adopt a Mandatory Human Rights Due Diligence Law which will place serious obligations on companies to prevent and tackle forced labour in global supply chains. Many of our recommendations have been adopted but we continue to argue hard for more effective stakeholder engagement and proper remediation for affected workers as it reaches the final stages.

Our campaign for similar legislation in the UK also ramped up over the year. 39 investors, representing over £4.5 trillion in assets, signed a letter calling for the Act, and a public poll we commissioned showing that 80% of a cross-section of the UK public want the same. We complemented this with advocacy aimed at all the major UK parties, in partnership with the Corporate Justice Coalition.

State Imposed Forced Labour

We continued our work with partners to end forced labour in Turkmenistan and the Xinjiang Uyghur Autonomous Region.

On Turkmenistan we secured a review by the ILO which condemned the government for not making any meaningful progress on ending forced labour in the cotton harvest since they last discussed the case in 2016 and 2021.

At the 110th International Labour Conference, strong recommendations were made, including a call for the Chinese government to accept an ILO Technical Advisory Mission to allow the ILO to assess the situation. After applying pressure, alongside our allies, the outgoing UN High Commissioner for Human Rights (UN HCHR), Michelle Bachelet, published a report on the treatment of Uyghurs and other Turkic and Muslim-majority peoples stating that it “may constitute international crimes, in particular crimes against humanity”. The UN Special Rapporteur on Slavery reached similar conclusions in his report to the UN Human Rights Council in September. These mark a major step to put global pressure on the Chinese Government to end the abuses.

Migration and Trafficking

Reducing Modern Slavery in Supply Chains (Bangladesh, India, Madagascar, Mauritius)

An estimated 45,000 migrant workers are employed in export-oriented factories in Mauritius, the majority from Bangladesh, Madagascar, and India. Many find themselves trapped in situations of debt bondage and forced labour, having paid extortionate recruitment fees whilst being deceived about the terms and conditions of employment in Mauritius.

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

Our project working on this concluded successfully in Q1, with our partners committed to carrying on the work. The Migrant Resource Centre will continue to be run by our partners in Mauritius to provide information, hear new grievances and support workers. They are also now working with the Ministry of Labour in Mauritius on the creation of their grievance mechanism, which our advocacy supported.

Our partners in Bangladesh also signed an MoU with a governmental agency (Bureau of Manpower, Employment and Training) to deliver official pre-departure orientation training to migrant workers bound for Mauritius.

Kafala System (Gulf Cooperation Council Countries)

We secured a new grant to establish a global coalition on forced labour of migrants in the Gulf Cooperation Council (GCC) countries and campaign for the abolishment of the Kafala system in 3 GCC countries.

UK Anti-Trafficking

We continue to chair the Anti-Trafficking Monitoring Group (ATMG) to monitor the UK Government’s compliance with the Council of Europe Convention on Action Against Trafficking in Human Beings (ECAT). As part of the ATMG, we have coordinated the UK visit from the Group of Experts on Action Against Trafficking in Human Beings (GRETA) in October 2023 and a follow up joint shadow submission from the UK third sector to provide evidence on the state of slavery and trafficking in the UK.

We worked hard to make sure the wider movement and our allies were aligned in their approach to challenging the Illegal Migration Bill and we produced two briefings outlining how this Bill breaches ECAT and wider international law as well as on the potential risks of re-trafficking. These briefings were shared with representatives of different parties and members of parliament during the passage of the Bill in Parliament. Despite all these efforts, the “Illegal Migration Act” (IMA) has become an Act of law in July 2023, but the modern slavery parts are yet to be commenced and the newly elected Government has been taking positive steps such as repealing the Safety of Rwanda Act 2024 and processing asylum claim who were previously made inadmissible by the IMA.

We have also continued to monitor the state of slavery and trafficking in the UK and the negative impact of other pieces of legislation such as the Nationality and Borders Act 2023, which is preventing survivor’s access to identification and support offered through the National Referral Mechanism (NRM). As part of this work, we have provided evidence in the legal challenge of R (VAN, LAN, MAN) v SSHD, which resulted in an interim relief order being granted against the Public Order Disqualification policy in the Nationality and Borders Act. As a result, the Court instructed the Home Office to conduct a Risk of re-trafficking Assessments before disqualifying a victim of trafficking and modern slavery from the NRM support on Public order grounds. This introduced an

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

additional safeguard for the survivors affected by this policy, but we are continuing to work to ensure no survivors are left behind.

Slavery and Climate Change

The climate crisis is already having a devastating impact on many of the most vulnerable people in the world, increasing inequality and exacerbating vulnerabilities, contributing to unplanned migration and heightening the risk of modern slavery. Further, as the world continues to experience the devastating impacts of climate change, a full transition away from the fossil fuel economy is imperative. Yet, in the race to net zero, we must seek ways to avoid the costs to human rights currently associated with green technology manufacturing and diversify sourcing, so that we can meet the world’s urgent and necessary decarbonisation goals without resorting to modern slavery along the way.

Since 2021, Anti-Slavery International has been leading calls to recognise and address the nexus between climate change, migration and forced labour and trafficking. In 2023, to further establish evidence of this nexus we have been undertaking research with our partners the International Institute for Environment and Development (IIED) and Ovibashi Karmi Unnayan Program (OKUP). We have also worked to build recognition by key powerholders on the nexus by focusing on the United Nations Framework Convention on Climate Change (UNFCCC) and the UN Human Rights Council Mechanisms. We started to see the results of this work in 2023 through strengthened engagement with key civil society coalitions who influence the Conference of the Parties (COP) to the UNFCCC.

FUNDRAISING AND COMMUNICATIONS

Anti-Slavery International saw strong year for fundraised income. The organisation retained a diverse portfolio of fundraised income ranging from grants raised from governments, foundation, philanthropists as well as donations from individuals, companies, community groups and our first major fundraising event; December’s Carols for Freedom.

This past year, fundraising and communications activities included:

Grant fundraising from institutional, foundation and company donors totalling £2.8m. As project development slowed in 2022 and 2023, one government grant was secured in 2023-24 – as sub-grant via the International Labor Organisation.
Fundraising from individuals across digital and offline methods saw continued interest from people keen to support the work of the organisation. We piloted our campaigning digital community building around a legal case focussed on goods made with Uyghur forced labour and secured considerable interest and support. This was a result of digital and advocacy integration on these issues, to increase the pool of supporters and drive a larger group of people to use their time, money and voice to support the charity. We continue to see impressive commitment in giving from individuals who choose to make a regular gift to the

Anti-Slavery International Trustees’ Annual Report For the year ended 31 March 2024

organisation’s ongoing work. No fundraising agencies generating direct donations worked on behalf of Anti-Slavery International in 2023-24.

Anti-Slavery International benefited from a continued partnership with Ashurst LLP and from a company donating around Anti-Slavery Day in October. Additionally, our work providing paid consultancy (trading income) to businesses and non-profits supported the charity’s ongoing work.

Participation in fundraising regulation and compliance with the codes

In accordance with the recommendations of the Fundraising Regulator, the fundraising team at Anti-Slavery International takes care to ensure that the programme adheres to the Codes of Fundraising Practice (COIF). The fundraising staff are CIOF members and work in accordance with the Codes is monitored through regular staff supervision, through ad-hoc referencing as required and as queries arise. Team members take part in relevant fundraising training as needed. In line with the 2020-27 fundraising and communications strategy, volunteers support the organisation through voluntary fundraising and staff ensure that this fundraising adheres to the Codes and to law. Resources are available to volunteer fundraisers, including on regulatory requirements and good practice.

Anti-Slavery International ensures that its ethical gift acceptance policies are adhered to, for individual donors and company donors. Additionally, the team ensures that it monitors any potential interactions with vulnerable people and acts in accordance with the Treating Donors Fairly CIOF guidance. The additional role of Supporter Care Assistant in Q3 allowed the team to further develop its systems of supporter care and identify areas for strengthening, such as thanking times and data imports.

In 2023-24, Anti-Slavery International received no fundraising complaints. As with all complaints and feedback, we remain committed to ensuring that these interactions lead to an improved overall experience for our supporters.

RISK AND FINANCE

Risk Management

Trustees undertake a thorough risk review annually. This involves identifying the types of risks the charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying ways of mitigating them. As part of this process, trustees keep the adequacy of the charity’s internal controls under review and, wherever possible, comply with best practice.

Additionally, the Finance Committee and Board assess and review key risks on a quarterly basis. These include risks relating to the safety and security of staff which are mitigated by stringent assessment, procedures, and insurance.

The three leading risks identified by this ongoing process are as follows :

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

1. Inability to raise sufficient funds to deliver ASI’s strategic aims

We are looking to secure funding for future periods as a number of grants have or will come to an end shortly, and we have submitted a number of large proposals. The risk if we do not secure these or other large grant funding is that we will need to reduce our projects to be in line with the available funding rather than being able to carry out projects that advance all of our strategic objectives.

2. Staffing

We continue to have difficulty in recruiting staff with the right skills and sufficient experience due to the ongoing impact on the labour market of Covid-19 and Brexit, combined with inflation. We have been able to increase salaries in line with the sector, but roles have not always been easy to fill, which can have a large impact on programme delivery and fundraising.

The Board have robust plans in place to minimise the potential disruption that could be caused by the coincidental departure of two members of the Senior Management Team. There was a handover period between the departing and interim CEOs in September 2024, and plans are well advanced for the appointment of an interim Director of Fundraising and Communications.

3. Geopolitical events

With programmes in West Africa, there is a risk of the political situation deteriorating further. We are continuing to implement projects in Niger despite the coup, but we cannot be sure this will continue to be the case. The presidential election in the US may change funding priorities in a way that did not happen in the first Trump administration. There is always the risk of new wars, for example over Taiwan, that may indirectly impact our work.

Finance Review

We sold our freehold property on the open market in September 2023 for £1,275k, which made a book profit of £644k. This has had a significant impact on the balance sheet and reserves, as discussed below. Excluding the property sale, total income was £4.4m, up £0.5m on 2022/ 2023. Unrestricted donations increased by £91k (8%), which is a good performance given the state of the economy. Our legacy income has had another good year and made up 9% of our total income. Investment income decreased with the tenants in the freehold office property reducing the office size being rented and then ceasing when the building was sold.

Income from restricted charitable activities increased by £394k and our restricted expenditure increased by a similar amount. Our costs increased more or less in line with inflation as our main cost, staff wages, increased, along with one-off moving and other costs associated with the sale of the property.

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

Reserves Policy

Reserves are held to smooth income flows by covering shortfalls, whether due to delays in awarding contracts, changes in exchange rates on funds from overseas or unexpected drops in giving. In addition, reserves need to cover risks in our project expenditure as work is carried out in areas which are complex and challenging, for example we may need to pause work due to geopolitical events. This reserve amount should also be sufficient to cover the shutdown costs of the organisation if this were ever to prove necessary, and separately to provide working capital for our day-to-day operations.

Different income streams are assessed, and a percentage reserve target applied to these streams and similarly to expenditure. This is compared to a shutdown cost calculation and the higher of these two values is the target reserve. The policy estimates our target unrestricted reserve at around £1,100k. Due to the sale of the property, our general unrestricted reserves are £1,393k, which is above this value. Our unrestricted reserves are likely to decrease during 2024/25 due to certain grants coming to an end but expect them to stabilise in 2025/26 before increasing again.

Trustees and senior management monitor the financial position regularly to keep abreast of any upcoming risks that may impact the reserves position. By monitoring financial risks, the Finance Subcommittee can determine if the current reserves target is set at an appropriate level.

Going Concern

Trustees have considered all material uncertainties and risks which may impact upon the organisation’s ability to continue as a going concern. Trustees believe that despite these uncertainties and risks, the charity remains a going concern. The Trustees formed this conclusion by reviewing the financial performance of the organisation with reference to forecast levels of free reserves and cash flow projections.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is governed by a Board of Trustees who meet regularly during the year. Trustees serve for a three-year period and may be re-elected for a maximum of two further consecutive terms of three years each. The Board delegates some functions to Subcommittees of Trustees. The committees operate under terms of reference and each committee has its work reviewed by the Board as appropriate. A process of skills-based open recruitment to source new trustees is employed. New trustees are briefed on the Memorandum and Articles of Association, risk register, policies, and procedures. This includes briefing on issues such as delegation of authority, recruitment, reserves, conflicts of interest and current and previous year’s financial performance and safeguarding.

Trustees are responsible for the strategic direction of Anti-Slavery International and delegate management to the Chief Executive Officer, who reports on performance against operational plans approved by the Board. The Chief Executive Officer and Director of Finance and Resources report regularly to the Treasurer of the Finance Sub-Committee on the financial position and financial risk. Management information and financial analysis reports are received quarterly by the Board.

Anti-Slavery International Trustees’ Annual Report For the year ended 31 March 2024

Remuneration Policy for Key Management Personnel

The trustees consider the Board and the Senior Management Team (SMT) to comprise the key management personnel of the charity in charge of directing and controlling the affairs of the charity. The trustees give their time freely and no trustee received remuneration in the year. Details of trustee expenses are disclosed in the notes to the accounts.

The Chief Executive Officer is on a spot salary determined by the People and Organisational Development Committee of Anti-Slavery’s board and approved by the Board. This committee also oversees the terms and conditions of all other Anti-Slavery staff. All other staff are on an appropriate grade on the salary grading system.

Key Personnel Changes 2023/24

There were no changes in key personnel during the year but the Chief Executive Officer and the Director of Fundraising & Communications will have left by the end of this current financial year. They have been replaced by interim appointments while we recruit permanent replacements.

Statement of the Responsibilities of the Trustees

The trustees (who are also directors of Anti-Slavery International for the purposes of company law) are responsible for preparing the trustees’ annual 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 year which gives a true and fair view of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 in the Charities SORP.
Make judgements and estimates that are reasonable and prudent.
State whether applicable UK Accounting Standards and statements of recommended practice 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 charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Anti-Slavery International

Trustees’ Annual Report For the year ended 31 March 2024

In so far as the trustees are aware:

There is no relevant audit information of which the charitable company’s auditors is unaware.
The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Plans for 2024/25

We will:

Closely monitor the uncertain external funding context and adapt our priorities as needed to ensure that we always deliver the maximum impact with the funding available;
Continue to develop ASI’s long-term organisational capabilities which given this year’s funding context may require us to invest a small percentage of our reserves;
Work closely with our partners in the anti-slavery movement to seize emerging opportunities for greater impact, such as those presented by the new government in the UK;
Establish a working group on diversity and inclusion to drive forward this work and continue to strengthen our safeguarding as new sector standards emerge.

AUDITOR

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 23 September 2024 and signed on their behalf by

Sunil Sheth Chair

Independent Auditor’s Report To the members of Anti-Slavery International

Opinion

We have audited the financial statements of Anti-Slavery International (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Anti-Slavery International's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Independent Auditor’s Report To the members of Anti-Slavery International

Other Information

The other information comprises the information included in the directors’ annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the directors annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The directors annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
The financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of directors remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit
The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Independent Auditor’s Report To the members of Anti-Slavery International

Responsibilities of directors

As explained more fully in the statement of directors responsibilities set out in the directors annual report, the directors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the

Independent Auditor’s Report To the members of Anti-Slavery International

financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Noelia Serrano (Senior statutory auditor)

17 October 2024 2024

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

Anti-Slavery International

Statement of financial activities (incorporating an income and expenditure

account)

For the year ended 31 March 2024

	Restricted £ - 2,672,139	Unrestricted £ 1,389,648 128,877 101,908 -	Restricted £ - 2,277,725 - -	2023 Total £ 1,389,648 2,406,602 101,908 -
2,338,605	2,672,139	1,620,433	2,277,725	3,898,158
	13,534 2,732,082	669,837 799,302	496 2,323,815	670,333 3,123,117
1,675,421	2,745,616	1,469,139	2,324,311	3,793,450

663,184 13,822	73,477) ( (13,822)	151,294 -	46,586) ( -	104,708 -
	87,299) ( 503,433	151,294 650,874	46,586) ( 550,019	04,708 1 1,200,893

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17.

Anti-Slavery International

Balance sheet

Company no. 3079904

As at 31 March 2024

			2024		2023
	Note	£	£	£	£
Fixed Assets:
Tangible assets	11		5,474		615,950
Intangible assets	12		10,441		14,349
Current Assets:
Debtors	13	590,822		733,882
Cash at bank		1,599,823		496,900
		2,190,645		1,230,782
Liabilities:
Creditors: amounts falling due within	14	(311,252)		(555,480)
one year
Net current assets			1,879,393		675,302

Total Net Assets			1,895,308		1,305,601
The funds of the charity:	16
Restricted income funds			416,134		503,433
Unrestricted income funds:
Designated funds		85,831		606,609
General funds		1,393,343		195,559
Total unrestricted funds			1,479,174		802,168
Total Charity Funds			1,895,308		1,305,601

Approved by the trustees on 23 September 2024 and signed on their behalf by

…………………………………………….

Sunil Sheth Chair of Trustees

Anti-Slavery International

Statement of cash flows As at 31 March 2024

Net income for the reporting period (as per the Statement of Financial Activities) Depreciation & amortisation charges Losses on disposal of fixed assets Surplus on sale of property Interest and rent from investments Decrease/ (increase in debtors) Increase in creditors Net cash provided by/ (used in) operating activities Cash flows from operating activities £ Net cash provided by/ (used in) operating activities Cash flows from investing activities: Interest and rent from investments 9,251 Sale of fixed assets 1,239,195 Net Cash flows from investing activities *Cash flows from financing activities:* Repayments of borrowing Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ 116,192 1,248,446 (261,715) 1,102,923 496,900 1,599,823	2024 £ 589,707 15,147 3,845 (643,804) (9,251) 143,060 17,488 116,192 £ 101,908 -	2023 £ 104,708 16,608 - (101,908) (359,826) 175,469
			(164,949)
			2023 £ (164,949) 101,908 (38,281)
			(101,322) 598,222
			496,900

Anti-Slavery International Notes to the financial statements 31 March 2024

1. Accounting policies

a)

Statutory information

Anti-Slavery International is a charitable company limited by guarantee and is incorporated in England & Wales. The registered office address is The Foundry, 17 Oval Way, London SE11 5RR.

b) Basis of preparation

The financial statements have been prepared in accordance with 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), (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006/ Charities Act 2011.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

In determining the going concern status, trustees have considered all material uncertainties and risks and have reviewed the financial performance of the organisation with reference to forecast levels of free reserves and cash flow projections.

The Charity’s cash position remains positive throughout the period under review and the Trustees believe it can settle its liabilities as and when they fall due. For this reason, the going concern assumption is considered to be appropriate.

e)

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

Anti-Slavery International Notes to the financial statements 31 March 2024

1. Accounting Policies (continued)

For legacies, entitlement is taken as the earlier of the date on which either:

the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made;
or when a distribution is received from the estate.

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f)

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g)

Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

h)

Overseas partner expenditure

Payments to overseas partners are based on forecast expenditure for the coming period and recognised when the payment is sent to the partner. Where partners do not spend funds received in full this is adjusted in the following period so that reports submitted to donors reflect was has actually been spent on the project. No adjustment is made in our statutory accounts and payments are treated as spent on transfer to the partner.

i)

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose;
Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j)

Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. Support and governance costs are allocated proportionally between the cost of raising funds and the three programme regions. Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements.

Anti-Slavery International Notes to the financial statements 31 March 2024

1. Accounting Policies (continued)

k) Foreign currencies

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the balance sheet date.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £3,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Freehold buildings 2% straight line
Fixtures & fittings 10% straight line
Computer & office equipment 20% straight line
Intangible- Database, website & software 20% straight line

Freehold land is not depreciated.

The last full valuation was carried out on 13 July 2012 on the freehold property. The charity took advantage of the FRS 102 transition relief to treat this valuation as deemed cost. Other assets will be reviewed for impairment if circumstances indicate their recoverable value to be materially lower than their value disclosed in the accounts.

m) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

n)

Cash at bank

Cash at bank includes any 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.

o)

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p)

Financial instruments

The charity 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.

Anti-slavery Internatlonal Notes to the financial ststements 31 March 2024 Accounting Policies (continued) Pensions The charity makes payments to personaL pension pLans of aLL empLoyees. The costs16%1 are charged tothe ststement of financial activities for the period to which they relate. The company has no liability underthe scheme otherthan payments of these contributions. q) Income from donations and legacles 2024 2023 Total Unrestricted Restrieted Totsl Unrestricied Rèstricted Individuals 446.434 734,185 384.909 446,434 734.185 384,909 428,466 661,126 300,056 428.466 661.126 300.056 TnJst & Corporate Legacies 1,565,528 1,565,528 1,389.648 1,389,648 Legacie5 include £351,39412023.. £285.5001 for which notifications and values have been received but not paid by the year end. Income from charitsble activities 2024 2023 Unrestricted Restricted Total Unrestricted Restricted Total Home offi-Ms1F 2 ACILS-Uyghur Strategy SuppoTt Home Oftice-MSIF 3 11781 68,783 84,916 55,210 6,478 11781 68,783 84,916 55,210 6,478 333.619 333.619 31,211 31,211 ACILS-End forced labour ECCHR-8an on forced Labourfor EU imports Norad-child Domestic Workers Freedom Fund-support GLAN & WUC Freedom Fund-Global Coalition for Import Bans Ethical Consumèr-agricijltural coalition US DRL-Traditional descent based slavery ILO-Mali 322.197 322.197 76.969 76,969 32.787 32,787 611,334 611,334 995 995 86.521 86,521 69.522 69.522 27,844 27.844 5.394 5.394 477.626 477,626 MRG-Mauritsnia US Embassy-mauritania US DRL-Mauritsnia GCC cOatIon Against Forced Labor of Migrant Workers Samworth Foundation-ATMG 632,082 632.082 36.411 36.411 60,000 60.000 Subtotal dfwd 1,526,271 1.526.271 1,493,450 1.493,450 27

Anti-Slavery International Notes to the financial statements 31 March 2024

3. Income from charitable activities (continued)

MSPECC Uyghur Forced Labour in Green Technology Supply Chains Trust for London-London legal project GLJ-ILRF-cotton campaign BIICL-impact of NABA modern slavery measures Freedom Fund-research into forced labour in EU supply chains Supply chain Other Income Subtotal b/fwd Samworth Foundation-Transform & Innovation Fund ATMG 3 - Esmée Fairburn ATMG 3 - H Scutt Total income from charitable activities Humanity United-business & human rights Other grants Laudes Foundation-forced labour in supply chains H Scutt-UK programme funding The Sir James Reckitt-Centenary Fund Ashurst-fellow 2022/23 Dressember Foundation-Ukraine migration Ashurst-fellow 2023/24 CAF America US J/TIP-Niger University of Nottingham	- 83,869 36,153	1,526,271 1,526,271 5,987 5,987 - - 39,800 39,800 - - 4,306 4,306 257,147 257,147 - - 8,774 8,774 41,508 41,508 - - 25,994 25,994 41,000 41,000 - - - - 35,000 35,000 - - 4,004 4,004 664,348 664,348 18,000 18,000 83,869 36,153 2,672,139 2,792,161	- 105,011 23,866	1,493,450 1,493,450 - 40,000 40,000 60,000 60,000 43,247 43,247 28,923 28,923 286,750 286,750 5,109 5,109 6,267 6,267 - 55,081 55,081 - - 40,553 40,553 22,149 22,149 35,000 35,000 - 156,090 156,090 - 5,106 5,106 - 105,011 23,866
	120,022		128,877	2,277,725 2,406,602

Anti-Slavery International Notes to the financial statements 31 March 2024

4. Analysis of Expenditure

Current Year

Current Year
	Cost of raising				Governance	Support
	funds	Africa	Asia	Europe	costs	costs	Total
	£	£	£	£	£	£	£
Salaries (note 7)	299,814	432,205	141,513	795,824	16,223	267,430	1,953,009
Payments to partners (note 5)	-	989,593	78,020	302,787	-	-	1,370,400
Other programme costs	8,836	55,137	14,280	29,858	-	5,589	113,700
Other operating costs	232,479	141,496	94,692	252,137	19,887	243,237	983,928
	541,129	1,618,431	328,505	1,380,606	36,110	516,256	4,421,037
Governance costs	5,051	15,106	3,066	12,887	(36,110)	-	-
Support costs	72,212	215,972	43,837	184,235	-	(516,256)	-
Total expenditure 2024	618,392	1,849,509	375,408	1,577,728	-	-	4,421,037

Prior Year

	Cost of raising				Governance	Support
	funds	Africa	Asia	Europe	costs	costs	Total
	£	£	£	£	£	£	£
Salaries (note 7)	328,185	377,546	80,871	666,761	17,750	202,649	1,673,762
Payments to partners (note 5)		826,340	29,079	101,441			956,860
Other programme costs	7,549	64,001	20,676	49,295	-	245	141,766
Other operating costs	242,698	207,156	102,210	169,569	16,578	282,851	1,021,062
	578,432	1,475,043	232,836	987,066	34,328	485,745	3,793,450
Governance costs	6,066	15,469	2,442	10,351	(34,328)		-
Support costs	85,835	218,886	34,551	146,473		(485,745)	-
Total expenditure 2023	670,333	1,709,398	269,829	1,143,890	-	-	3,793,450

Anti-Slavery International Notes to the financial statements 31 March 2024

5. Grant making

The above grants represent payments to institutions in furtherance of the charity’s strategic aims.

Anti-Slavery International Notes to the financial statements 31 March 2024

6. Net income for the year

This is stated after charging:

income for the year ed after charging:
	2024	2023
	£	£
Depreciation & amortisation	15,147	16,608
Losses on disposal of fixed assets	3,845	-
Foreign exchange losses/ (gains)	21,250	(33,666)
Interest payable	12,791	16,846
Auditor's remuneration excluding VAT
Statutory audit	14,425	13,525
Other audit services - current	29,159	23,851
Other audit services - under accrual for prior year	-	16,393

7. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries & wages Social security costs Employer's pension contributions	2024 2023 £ £ 1,674,425 1,430,887 181,776 161,335 96,808 81,540 1,953,009 1,673,762

Remuneration of employees

The number of employees whose remuneration fell within the following bands were:

	2024	2023
	No.	No.
£60,000-£70,000	4	2
£70,000-£80,000	-	-
£80,000-£90,000	-	-
£90,000-£100,000	-	1
£100,000-£110,000	1	-

The total employee benefits including pension contributions of the key management personnel were £335,130 (2023: £313,308). Termination payments of £15,330 were accrued during the year (2023: £2,981).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the

Anti-Slavery International Notes to the financial statements 31 March 2024

charity (2023: £nil). Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling £113 (2023: £159) incurred by 1 (2023: 1) member relating to attendance at meetings of the trustees.

8. Staff numbers

The average monthly number of employees (head count based on number of staff employed) during the year was as follows:

was as follows:
Programmes Fundraising & Communications Support & Governance	2024 No. 20 11 7 38	2023 No. 18 11 5 34 Headcount	2024 2023 No. No. 19 17 10 11 7 5 36 33 Full Time Equivalent
				33

9. Related party transactions

There are no related party transactions to disclose for 2024 (2023: none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties (2023: none).

Unrestricted donations received from trustees in the year were £520 (2023: £375).

10. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Anti-Slavery International Notes to the financial statements 31 March 2024

11. Tangible fixed assets

Cost or valuation At the start of the year Additions in the year Disposals in the year At the end of the year Depreciation At the start of the year Charge for the year Disposals in the year At the end of the year Net book value At the end of the year At the start of the year	Freehold property Fixtures & fittings Computer & office equipment Total £ £ £ £ 725,000 4,931 2 7,134 5 807,065 - - - - (725,000) (24,931) (38,576) (788,507)
	- - 18,558 18,558
	122,888 0,499 2 7,728 4 191,115 6,720 587 3,932 1,239 1 (129,608) (21,086) (38,576) (189,270)
	- - 13,084 13,084
	- - 5,474 5,474
	602,112 4,432 9,406 615,950

All of the above assets are used for charitable purposes.

Anti-Slavery International Notes to the financial statements 31 March 2024

12. Intangible fixed assets

Cost or valuation At the start of the year Additions in the year At the end of the year Depreciation At the start of the year Charge for the year At the end of the year Net book value At the end of the year At the start of the year	Database & website Software Total £ £ £ 56,829 18,318 75,147 - - -
	56,829 18,318 75,147
	56,829 3,969 60,798 - 3,908 3,908
	56,829 7,877 64,706
	- 10,441 10,441
	- 14,349 14,349

13. Debtors

Trade debtors Accrued income Other debtors Prepayments	2024 2023 £ £ 30,000 6,467 514,515 692,719 20,881 11,556 25,426 23,140 590,822 733,882

Anti-Slavery International Notes to the financial statements 31 March 2024

14. Creditors: amounts falling due within one year

Trade Creditors Mortgage Taxation and social security Pension contributions Other creditors Accruals	2024 2023 £ £ 74,113 101,049 - 261,715 77,547 54,361 12,435 11,152 2,333 31,996 144,824 95,207 311,252 555,480

15. Analysis of net assets between funds

Current Year

Tangible and intangible fixed assets Net current assets Net assets at the end of the year	General unrestricted £ 15,915 1,377,428 1,393,343	Designated £ - 85,831 85,831	Restricted Total funds £ £ - 15,915 416,134 1,879,393 416,134 1,895,308

Prior Year

Tangible and intangible fixed assets Net current assets Net assets at the end of the year	General unrestricted £ 203,830 (8,271) 195,559	Designated £ 412,647 193,962 606,609	Restricted Total funds £ £ 13,822 630,299 489,611 675,302 503,433 1,305,601

Anti-Slavery International Notes to the financial statements 31 March 2024

16. Movement in funds

Current Year

Total programme funds c/fwd CAF America Home Office-MSIF 3 ACILS-End forced labour ECCHR-Ban on forced labour for EU imports Ashurst-fellow Freedom Fund-support GLAN & Norad-Child Domestic Workers Freedom Fund-Global Coalition for Ethical Consumer-agricultural Trust for London-London legal project GLJ-ILRF-cotton campaign Laudes Foundation-forced labour in supply chains University of Nottingham Samworth Foundation-Transform & Innovation Fund ILO-Mali H Scutt-UK programme funding The Sir James Reckitt-Centenary Ashurst-fellow MSPECC Uyghur Forced Labour in Dressember Foundation-Ukraine migration US DRL-Mauritania ATMG 3 - H Scutt Humanity United-business & human rights US J/TIP-Niger GCC Coalition Against Forced Labor Samworth Foundation-ATMG BIICL-impact of NABA modern Other	At 1 April 2023 £ 23,106 10,265 6,478 43,594 - - - 43,715 (34,180) 14,722 1,961 7,281 157,254 (2,783) - 38,819 - 11,797 12,862 27,326 - 130,419 (3,025) - - 489,611	Income & gains £ 333,619 31,211 - 322,197 76,969 32,787 995 632,082 - 36,411 60,000 5,987 39,800 - 4,306 257,147 8,774 41,508 - 25,994 41,000 35,000 - 4,004 664,348 18,000 2,672,139	Expenditure & losses £ 344,950 41,476 6,478 365,791 33,835 14,937 - 43,715 600,026 36,411 36,825 5,987 54,522 1,961 11,587 282,198 5,991 41,508 38,819 25,994 39,804 12,862 27,326 10,725 115,261 4,004 524,623 18,000 2,745,616	Transfers At 31 March 2024 £ £ - 11,775 - - - - - - - 43,134 - 17,850 - 995 - - (2,124) - - 23,175 - - - - - - - - - 132,203 - - - - - - - - 12,99 3 - - - - 24,27 5 15,15 8 - - - 136,700 - - - 416,134

Anti-Slavery International Notes to the financial statements 31 March 2024

16. Movement in funds – current year (continued)

Total programme funds b/fwd Building & library fund Total restricted funds Revaluation reserve Designated funds General funds Total unrestricted funds Total Funds Nelumbo Foundation-business, human rights and the Environment Act Nelumbo Foundation-government action	489,611 13,822 503,433 412,647 193,962 - 606,609 195,559 802,168 1,305,601	2,672,139 - 2,672,139 - 231,027 408,068 639,095 1,699,510 2,338,605 5,010,744	2,745,616 - 2,745,616 - 424,989 322,237 747,226 928,195 1,675,421 4,421,037	- (13,822) (13,822) (412,647) - - (412,647) 426,469 13,822 -	416,134 -
					416,134
					- - 85,831
					85,831 1,393,343
					1,479,174

					1,895,308

The negative fund in deficit at the year end is due to timing differences on the receipt of funds. The deficit will be cleared through contracted payments during the first half of this financial year.

Prior Year

GLJ-ILRF-cotton campaign Laudes Foundation-forced labour in supply chains ILO-Mali MRG-Mauritania US Embassy-Mauritania US DRL-Mauritania ATMG 3 - Esmée Fairburn ATMG 3 - The Baring Foundation Home Office-MSIF 2 Migrant resource centre, Mauritius ACILS-Uyghur Strategy Support Home Office-MSIF 3 ACILS-End forced labour ECCHR-Ban on forced labour for EU imports Norad-Child Domestic Workers Voice-Forced Child Begging US DRL-Traditional descent based Trust for London-London legal project Programme funds c/fwd ATMG 3 - H Scutt	At 1 April 2022 £ 19,120 1,270 - - - - 17,252 465 87,922 93,671 (12,756) 32 7,594 52,932 5,167 7,861 2,098 (5,067) 119,804 397,365	Income & gains £ (178) 68,783 - 84,916 55,210 6,478 611,334 86,521 - 69,522 27,844 5,394 477,626 40,000 60,000 - 43,247 28,923 286,750 1,952,370	Expenditure & losses £ 18,942 1,270 68,783 61,810 44,945 - 584,992 465 174,443 119,478 15,088 5,426 519,400 92,932 50,445 7,861 43,384 16,575 249,300 2,075,539	Expenditure & losses At 31 March 2023 £ £ 18,942 - 1,270 - 68,783 - 1,810 6 23,106 44,945 10,265 - 6,478 584,992 43,594 465 - 174,443 - 119,478 43,715 15,088 - 5,426 - 519,400 (34,180) 92,932 - 0,445 5 14,722 7,861 - 3,384 4 1,961 6,575 1 7,281 249,300 157,254 2,075,539 274,196

Anti-Slavery International Notes to the financial statements 31 March 2024

16. Movement in funds – prior year (continued)

Total programme funds Building & library fund Total restricted funds Revaluation reserve Designated funds General funds Total unrestricted funds Total Funds Humanity United-business & human rights US J/TIP-Niger Other Freedom Fund-research into forced labour in EU supply chains University of Nottingham Samworth Foundation-Transform & Innovation Fund Ashurst LLP-general support Dressember Foundation-child domestic work J Newhouse-core funding H Scutt-UK programme funding Dunn Family Charitable Foundation The Sir James Reckitt-Centenary Fund Ashurst-fellow Nelumbo Foundation-government action Programme funds b/fwd	397,365 - - 65,458 14,803 24,640 (1,448) 18,981 11,195 - - - - (123) 530,871 19,148 550,019 417,703 72,774 490,477 160,397 650,874 1,200,893	1,952,370 5,109 6,267 55,081 40,553 - 22,149 35,000 156,090 5,106 - 2,277,725 - 2,277,725 - 448,513 448,513 1,171,920 1,620,433 3,898,158	2,075,539 5,109 9,050 81,720 14,803 24,640 (1,448) 47,737 11,195 9,287 7,674 25,671 8,131 (123) 2,318,985 5,326 2,324,311 5,056 327,325 332,381 1,136,758 1,469,139 3,793,450	2,075,539 5,109 9,050 1,720 8 14,803 24,640 (1,448) 7,737 4 11,195 9,287 7,674 25,671 8,131 (123) 2,318,985 5,326 2,324,311 5,056 327,325 332,381 1,136,758 1,469,139 3,793,450	274,196 - (2,783) 38,819 - - - 11,797 - 12,862 27,326 130,419 (3,025) -
					489,611 13,822
					503,433
					412,647 193,962
					606,609 195,559
					802,168

					1,305,601

Purposes of restricted funds:

Home Office-MSIF 3 ACILS-End forced labour ECCHR-Ban on forced labour for EU imports

The human cost of the climate crisis: solutions to the intersection of modern slavery, migration and climate change. Global strategy to engage with businesses to end corporate complicity in forced Labour in the Uyghur region. Joint project to advocate around the current debates on the introduction of an instrument to allow for import bans for goods linked to severe human rights violations such as forced labour or child labour at the level of the European Union.

Norad-Child Domestic Workers Freedom Fund-support GLAN & WUC

Freedom Fund-Global Coalition for Import Bans Ethical Consumer-agricultural coalition ILO-Mali US DRL-Mauritania GCC Coalition Against Forced Labor of Migrant Workers Samworth Foundation-ATMG

BIICL-impact of NABA modern slavery measures ATMG 3 - H Scutt Trust for London-London legal project GLJ-ILRF-cotton campaign

Many hands make light work: eliminating slavery in child domestic work for the period 2021-2023. Legal and campaign strategy to support World Uyghur Congress in court on the UK government’s failure to investigate Uyghur Region cotton imports. An international network of civil society organizations working to introduce and enforce import bans against goods made using forced labour.

A coalition to end exploitation of migrant workers in Spain’s agricultural sector. Combatting slavery and slavery-based discrimination in Mali. Eradicate slavery in Mauritania and Niger and promote the full integration of victims into society. Subgrantee in coalition work to jointly advocate for migrant workers’ rights in Gulf Cooperation Council countries.

This grant is to facilitate ASI and the ATMG to help equip the Modern Slavery Sector to be more dynamic in its advocacy, moving away from classical lobbying methods that have lost effect as a result of changing political culture, and to use more strategic advocacy outputs such as survivor leadership, narrative resetting and strategic litigation.

This grant was to facilitate ATMG's role in producing the report: Assessing the Modern Slavery Impacts of the Nationality and Borders Act: One Year On .

Anti Trafficking monitoring group. Strategic litigation project. Support of cotton campaign work in promoting human rights.

Anti-Slavery International Notes to the financial statements 31 March 2024

Purposes of restricted funds (cont.):

Laudes Foundation-forced labour in	Influencing European policy & legislation to address forced labour in global supply chains.
supply chains
University of Nottingham	Harnessing UK trade and investment to address Indo-Pacific modern slavery risks.
MSPECC Uyghur Forced Labour in	Developing investor guidance and policy recommendations to address Uyghur forced labour in green technology.
Green Technology Supply Chains
Samworth Foundation-Transform &	Transform and innovate grant to allow ASI to build upon its short-term activities and learning, maximising the elements
Innovation Fund	of work focussed on grassroots movement building, influencing the bigger development actors, and influencing led by
	people who are, and are closer to, those most affected by modern slavery.
Dressember Foundation-Ukraine	Developing guidance for businesses on how to prevent and mitigate human rights risks affecting displaced people,
migration	focusing on the ongoing war in Ukraine.
H Scutt-UK programme funding	Recruitment of Parliamentary officer role within ASI.
The Sir James Reckitt-Centenary Fund	Recruitment of additional support staff.
Ashurst-fellow	Commitment to ASI for £35,000 each year for 10 years to enable ASI to employ someone as the Matilda Ashurst Anti-
	Slavery Fellow and to use said Fellow to progress whatever it is within modern slavery that ASI needs that role to
	achieve.
Humanity United-business & human	Support of Anti-Slavery International's Thematic Advocacy programme.
CAF America	Support of our operational costs.
US J/TIP-Niger	Reduce forced child begging in Niger and West Africa.
Other	Miscellaneous small and one-off restricted funds
Building & library fund	Funds previously received to fund the purchase and development of the building and library. The fund is used to offset
	the depreciation associated with the assets and for maintenance and development of the building.
	The sale of the building means that the remaining balance has been moved to our general fund.
Revaluation reserve	This represents the increase in the net book value of the organisation's headquarters after the revaluation undertaken
	in 2012 less the additional depreciation arising since that date.
Nelumbo Foundation-government	To underwrite the costs of some of ASI’s Advocacy & Programme team, including the creation of new posts to help us
action	achieve our aims. Funding would also be invested in project costs such as scoping, movement building, research, and
	campaigning.
Nelumbo Foundation-business, human	To underwrite the costs of some of ASI’s Advocacy & Programme team, including the creation of new posts to help us
rights and the Environment Act	achieve our aims. Funding would also be invested in project costs such as scoping, movement building, research, and
	campaigning.
Home Office-MSIF 2	Reducing modern slavery in supply chains in Mauritius through creating a platform for
	protection and remedy.
Migrant resource centre, Mauritius	ASOS - agreement to fund the Migrant Resource Centre (MRC) continuation in Mauritius.
ACILS-Uyghur Strategy Support	Global strategy to engage with businesses to end corporate complicity in forced labour in the Uyghur region.
Voice-Forced Child Begging	Ending slavery in Africa.
MRG-Mauritania	Tripartite strategy to eradicate slavery in Mauritania.
US Embassy-Mauritania	Execute critical capacity-building and advocacy efforts negatively delayed by COVID-19 third and fourth waves.
ATMG 3 - The Baring Foundation	Covid-19 risk & response: impacts and mitigation for modern slavery victims, survivors and vulnerable populations.
Ashurst LLP-general support	Commitment to ASI for £35,000 each year for 10 years to enable ASI to employ someone as the Matilda Ashurst Anti-
	Slavery Fellow and to use said Fellow to progress whatever it is within modern slavery that ASI needs that role to
	achieve.
Dressember Foundation-child domestic	Match funding to eliminate child domestic work in Ghana and Tanzania.
J Newhouse-core funding	Support for ASI Activities.
Dunn Family Charitable Foundation	Support for 3 projects: a newly commissioned research project in Nepal, the continued work of our Business and Human
	Rights Team.

Anti-Slavery International Notes to the financial statements 31 March 2024

17. Operating lease commitments

The Charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year One to five years Over five years	2024 2023 £ £ 17,356 - - - - - 17,356 - Property

18. Capital commitments

At the balance sheet date, the charity had no capital commitments.

19. Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

Anti-Slavery International

Contents

For the year ended 31 March 2024

Table of Contents

For the year ended 31 March 2024

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES’ ANNUAL REPORT

INTRODUCTION

OBJECTIVES

VISION, MISSION AND VALUES

Values:

Dynamic

Inclusive

Transformative

OUR 2020-25 STRATEGY AND APPROACH

i. System Change

ii. Survivors’ voice

iii. Movement Building

iv. Framing the issue

v. Legal Frameworks

OUR WORK IN 2023-24

Ending Child Slavery

Eliminating Slavery in Child Domestic Work (Ghana, Tanzania)

Exploitative Child Domestic Work and Forced Child Marriage (Nepal and Tanzania)

Descent Based Slavery (Niger, Mauritania and Mali)

Responsible Business

Legislative Change

State Imposed Forced Labour

Migration and Trafficking

Reducing Modern Slavery in Supply Chains (Bangladesh, India, Madagascar, Mauritius)

Kafala System (Gulf Cooperation Council Countries)

UK Anti-Trafficking

Slavery and Climate Change

FUNDRAISING AND COMMUNICATIONS

Participation in fundraising regulation and compliance with the codes

RISK AND FINANCE

Risk Management

The three leading risks identified by this ongoing process are as follows :

1. Inability to raise sufficient funds to deliver ASI’s strategic aims

2. Staffing

3. Geopolitical events

Finance Review

Reserves Policy

Going Concern

STRUCTURE, GOVERNANCE AND MANAGEMENT

Remuneration Policy for Key Management Personnel

Key Personnel Changes 2023/24

Statement of the Responsibilities of the Trustees

Plans for 2024/25

We will:

AUDITOR

Opinion

Basis for opinion

Conclusions relating to going concern

Other Information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of directors

Auditor’s responsibilities for the audit of the financial statements

Capability of the audit in detecting irregularities

Use of our report

Statement of financial activities (incorporating an income and expenditure

For the year ended 31 March 2024

Balance sheet

Company no. 3079904

As at 31 March 2024

Statement of cash flows As at 31 March 2024

1. Accounting policies

a)

Statutory information

b) Basis of preparation

c) Public benefit entity

d) Going concern

e)

Income

1. Accounting Policies (continued)

f)

Interest receivable

g)