Registered number.. 05594889 Charity number- 1114615 THE TECHSOUP TRUST FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2022 LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB
THE TECHSOUP TRUST A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Executive Director's Statement Trustees. Report 4-11 Statement of Trustees. Responsibilities 12 Independent Auditors. Report to the Members of The Techsoup Trust 13-16 Statement of Financial Activities Incorporating Income and Expenditure Account 17 Balance Sheet 18 statement of Cash Flows 19 Notes to the Financial Statements 20-31
THE TECHSOUP TRUST A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2022 Trustees C. Armstrong W. Hoyle R. Jau¢h R. Masisak J. McDermott Company registered number 05594889 Charity registered number 1114615 Registered office 1 Princeton Mews 167-169 London Road Kingston Upon Thames Surrey KT2 6PT Company secretary M&N Secretaries Limited Independent auditors Lubbock Fine LLP Chartered Accountants & Statutory Auditors Paternoster House 65 Sl Paul's Churchyard London EC4M 8AB Bankers HSBC Bank plc 165 Fleet street London EC4A 2DY Page 1
THE TECHSOUP TRUST A Company Limited by Guarantee) EXECUTIVE DIRECTOR'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2022 The Executive Director presents his statement for the year. A summary of this yearfs progress The financial year 2022 IFY 20221 saw The Techsoup Trust ITSTI continue lo grow and mature, through the wort( we undertake in partnership with our parent Techsoup ITS) and the wider Techsoup Global Network ITSGNI. In FY 2022, the TSGN delivered more goods, services, and resources lo more civil society organizalions than ever before. More specifically the TSGN connected 292,000 NGOS in 236 countries and territories with more than US$2.2 billion in resources. TS'S Validation servIs IVSI played a key role in this impact serving 192,000 of these NGOS, via approximately 300,000 validation check requests. This growing ntribution of VS lo TS'S overall impact reflects the trend of many cloud-based services being available through Techsoup via VS, and emphasises the Importance of the digital Iransformalion processes that civil society globally now is adopting. TST'S team remained remote working, enabling us to continue lo deliver all our services, and indeed expand and adapt to deliver lo the ever-evolving needs of the sector whilst adding more key staff lo broaden our Capabilities. This year we have seen new skills added lo the team as we recruited a user interfaceluser experience IUIIUXI expert lo drive the design of our new membership offer Quad, and a business operations lead to support the delivery of TS programs across the TSGN. Highlights of TST'S contribution both lo TSGN'S global Impact and lo our own mission, Include the following key programme achievements and roles within them, demonstrating both the range and scale of the impact of TST'S staff.. Collectively through our global network, our VS now connect reSoUS from 58 clients, of which 13 are contracted directly lo TST, with TST staff co-leading this key service stream as well as working within a global customer accounts team finding and adding new clients. Ts's strategic partner Benevity drove substantial growth in their international employee giving and volunteering services. TS helped Benevily achieve this growth by enabling the social responsibility programmes Benevity serve to connect with NGOS all over the worfd via TS'S validation SerVis. TST staff have the key role here of jointly managing this strategic partnership with TS colleagues. Working with the TS U.S.-based NGOsource team, and in close collabootion with the Techsoup Asia and Africa teams, TST staff jointly managed the evolution of the Strengthening and Tiered Evaluation Process ISTEPI, including piloting the setvice and forming new partnerships. An additional focus this year has been the design of an organizational strengthening portal for STEP, giving NGOS undertaking STEP access to resources lo increase their skills and maturity across a range of prosses. TST staff led the re-engineering of Ts's NGOsource services, using the Co-operative Technology Platfomi's ICTPI capabilities, resulting in a new NGO portal and admin processes improving the userjoLJrney. TST staff played key roles in the progmm management and UIIUX design of Techsoup's new membership offer Quad, which was launched in February 2022 to reach, educate and engage more NGO communities. The Russian invasion of Ukraine provided an urgency lo our support of our partners and NGOS in the region. TST staff worked closely with the TSGN to support groups that were helping internally diSplad persons and refugees who crossed the borders into Poland, Romania, Moldova, and the Czech Republic and continue to move across Europe. TST staff performed these key roles on these programmes not in isolation, but working with TS, Fundacja Techsoup IFTSI, and TSGN partner staff, in truly global remote working teams. Page 2
THE TECHSOUP TRUST A Company Limited by Guarantee) EXECUTIVE DIRECTOR'S STATEMENT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 As in previous years, underpinning all these programmes remains our investment in our Global Data Setvices IGDSI and the quality of our data a continual and expanding scope of work, with us now holding data across a community of more than 1.4 million NGOS across 236 countries and territories. Without this data TS could not have delivered the approximately 300,000 validation requests that TS performed last year alone. Similar fvndamenlal is the development of our CTP - which is now the foundation for our existing VS and is expanding lo form the basis of other key servi$ like NGosour. Finally, the investment in support of our TSGN management and associated plattorms is the other pillar that our delivery depends upon and ensures that TSGN can act locally and impact globally. The alignment of these areas of work, and the CTP'S increasing mobilisalion across ever more of our operations, is al the basis of our strategy to best serve the sector. Looking Forward In the year ahead, we In TST will continue lo work with our TS and FTS colleagues, and the TSGN, to further expand our impact lo the sector. Through increasingly diverse and impaclful global data-based services and the wider range of services, the CTP will continue lo underpin the support and impact of our partner network. The new membership service Quad will evolve and grow as il supports communities of NGOS more holistically, with both reSoUrS and community engagement. Looking forward Into FY 2023, we expect the support of the rollout of a new NGOsource NGO portal re- engineered on CTP components, the further piloting and go-to-markel of STEP and its resource portal, and the continued evolution of the TSGN Marketpla as key initiatives taking us forward. All this is alongside the continued growth of the core VS as we, together with TS colleagues look to build upon the 58 donors and suppliers we have already reached and strive lo add many more, connecting even more NGOS lo key services and resour$. Finally, we would once again like to thank all the contributors, collaborators, and supporters who have continued to trust us with their programmes, funds, and b.me lo make an impact for the sector. As aaYs, we, like to hear from all of you with any questions, comments, ideas, or indeed partnering opportunities lo enable us lo continue to realise our objectives and benefit the sector. Yours sincerely, Paul Van Haver, Executive Director Dale..23 March 2023 Page 3
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2022 PRINCIPAL ACHIEVEMENTS FOR THE YEAR ENDING 30 JUNE 2022 The trustees (who are also directors for the purF)oses of company 18wI present their annual report, which includes the directors, report, together with the audited fi'nancial statements for the year that ended 30 June 2022. The Iruslees confirm that the annual report and financial statements of the charitable company eomply with the curonl statutory requirements, the requirements of the charitable company's governing document, and the provisions of the recommended pfftclice ISORPI, applicable lo charities preparing their accounts in accordance with the financi81 reporting standard 8pplieable in the U.K. and Republic of Ireland IFRS 1021. As in previous years, the TST team has continued lo work with our U.S.-based parent organis8tion TS, and our TSGN partners, across five main streams of work, with the work evolving as we progress in our aims lo increase our impact. We continue to build on the work from previous years with the ongoing expansion of validation services to more providers and with the evolution of a range of services that enable the digital Iransformalion of our work and empower our Global Data Services. The five complementsry work streams also ensure that we continue to increase our impact and benefit lo the sector whilst maintaining our, and all our partners,, financial sustainability. Specific roles of TST'S staff have expanded this year. These include, but are not limited to, the following areas.. Co-leading the technical architecture and improvement of operational processes of the CTP, delivering solutions across Global Data Services,. Including validation services and developing a new NGO portal for our NGOsource service Providing programme executive sponsorship and programme govern8nce across key programmes e.g., for NGOsource restructuring and TS'S new subscription offer Quad Key UIIUX design work on TS'S new membership offer Quad Co-managing the evolution of our STEP due diligen framework including managing training for the STEP Framework Leading the team working across GDS and supporting teams undertaking NGO data quality improvements and projects looking to expand and Improve our data on NGOS Overseeing the delivery of VS, providing contract development, project management, and operations support to TS'S product director Managing, training, and supporting TSGN staff in the rollout of new and evolving global services., lo ensure their sucSsful uptake by NGOS le.g., the Microsoft Cloud ICSPI programmel Proactively monitoring and supporting global plattorms, infrastructure, helping ensure their 24171365 availability The details that follow illuslrale our achievements over FY 2022 and frame our goals for the year ahead, giving context around key decisions and our current focus. To recap, these are the five key areas of work we continue lo progress as in previous years.. 1. VS.. Connecting more NGOS with new technologies and other transformative resources lo push NGOS, missions fotward and develop new due diligence frameworks for the sector 2. Building the basis for a nexl-generation Techsoup Marketplace, whilst enhancing delivery of key data serVIS using our CTP 3. Continuing lo invest in the quality and breadth of the NGO data we rely upon to deliver our Global Data Services 4. Supporting the Guidestar India platform 5. Engaging, enabling, and supporting our TSGN partners in delivering global offers to their local NGOS Page 4
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 1. VS- Conneeting more NGOS with new teehnologies and other transformative re$ouree$ to push NGOS. missions forward and develop new due diligence frameworks for the Sector Techsoup's VS helps deliver technology products and services to the non-profit sector by validating NGOS in 236 countries and territories for our partners, social impact, corporate social responsibility ICSRI, and philanthropy programs Isee https.1lpage.techsoup.orglvalidalion-servicesl. In FY 2022, VS check requests ached just under 300,000 from NGOS requesting donor offers in 236 territories and countries and VS served 192,000 unique NGOS in the financial year. Together with existing cliènts including Microsoft, Google for Nonprofits Okta, Airbnb, PayPal, Benevity, and many others - VS now sèrves a total of 58 clients. Although this financial year TST lost customers, with Sage Foundats'on and Flixbus leaving, we continued to grow our customer base in the UK adding four new customers contracting direclly via TST, tsking the total directly contracted VS customers to TST to 13. In FY 2022, TS expanded its work on STEP (see detsils of this service at https'.Ilslep.techsoup.orgl with the team continuing lo work closely with partners in Africa to engage with capacity-building organizations, funders and NGOS that will be the ultimate users of the service lo ensure il meets their needs. This financial year the TST members ofthe STEP team trained 14 staff from Phambano, KCDF, WACSI and Techsoup Asia Pacific as evaluators for the STEP Framework. In doing this the team created a sel of training materials for future use. We then conducted evaluations on 12 CSOS in Kenya, Ghana, Liberia, Nigeria, South Africa, Indonesia, and the United Slates. Furthermore, the TST members of the STEP team researched options for a new capacity building resource portal" to support STEP and determined that the Circle product which was being configured for TS'S Quad membership offer (see section 2 below) was the best solution. The team developed scoping documentation to build a pilot phase in the next financial year based on this product. As a part of the portal design, the STEP team identified a foundational set of key resources (on-line courses, guidance, templates, videosl and developed a sel of risk management and safeguarding guidance materials and policy templates in collaboration with Safer Edge. STEP could not have achieved this all without the funding TS received and are particularly grateful for the support of the Conrad J Hilton Foundation whose support will enable the expansion of the programme. Next year STEP will aim to conduct a pilot phase for the resource portal with NGOS, funders and subject maller experts and we will lead the creation and execution of a "go lo market" plan with TSGN partners. In summary, TST'S staff continue lo play a leading role in the development and management of GDS across a range of validation setvices, working in globally distributed teams, hand in hand with our parent TS and the TSGN. Page 5
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 2. Building the basis for a next4Jeneration Techsoup Marketplace, whilst enhaneing delivery of key data services using our CTP In FY 2022, the TST-based members of the CTP team focused on developing two key aspects of TS p18tforms. Improving operational management Enhancement of existing due diligen services in NGOsource. On that first aspect, the CTP team continued work on authentication and identity, using identity to build applications lo enable operational tasks for VS to be undertaken in a self-service way by operational staff. This will Improve data cleansing and operations making the VS team less dependent on technical staff. This year the CTP team also moved the core data store to high availability cluster, allowing for better scalability and stability. Forward looking and as a part of our data design work the CTP team started to focus on the creation of a master data management strategy. NGOsource is an NGO equivalency delemiination service that enables U.S. granlmakers to streamline and save in their International giving. Since the service was launched in 2013, TS has supported Il by ulilizing TS'S legacy technology. Now, via a new NGO portal developed by the CTP team, the service will benefit from an enhanced user journey. The CTP team have also added new language capabilities and are now able lo serve NGOS in English, Chinese Istandardl, French, Portuguese, and Spanish. German and Hebrew are planned for the next financial year. The NG0Sour team in collaboration with the CTP team have also worked on creating a sel of application programming Interfaces IAPlsl lo allow for funders to directly integrate NGO and ED data into their own systems. Pilots are planned for the next financial year with a few selected funders lo trial these new APIS. In addition, as part of our marketplace evolution, our new membership offer launched in February 2022 with a product named Quad. Quad offers dedicated community spaces, support from experts in the field, and additional cost savings benefits. Through this paid membership, Quad supports organizations with their digital Iransfomialion and helps them adopt technology in meaningful ways. Quad provides a platform for NGO members to inleracl with peers, attend events, share solutions, and gain access to the technology tools, services, and training they need. Quad exemplifies Techsoup's shift lo more fully supporting organizations as they adopt technology produ¢ls and expand how they use and maximize these solutions in meaningful, mission-spe¢ific ways. Quad launched with a focus on organizations that provide meal, pantry, and food bank services in their communities. Based on Ts's knowledge of the needs of organizations that address food security on the ground (see https'.Ilyearinreview.lechsoup.orglhighlighls#food-security-engagementl, Quad focuses on the ways these organizalions could use technology to accelerate their ability lo meet community needs. Overtime, Quad members will build powerful connections with their peers to gel advice, share best practis, and re1ve the inspiration and encouragement needed to keep moving forward. So far, Quad has launched in the U.S., Portugal, and South Africa, and in FY 2023 Quad is looking to expand to serve new geographic regions as well as many other Communities of purpose and of practice. TS will also aim lo leverage a version of the tools and processes it has developed as part of Quad to provide a resource portal and community plafform for the STEP programme las noted previously). The Cross use of tools here Is a good example of how we across TS, TSGN and TST are aligning approaches and leveraging solutions that we develop across multiple strategic programs. TST team members are central to Quad's progress with TST staff leading the projert management on Quad, leading user and customer experience design, and managing the technical configuration of the new community services tools we have rolled OUL Last but not least, TST with our partners have progressed the Butterfiy Inilialive,, whose aim is to design and build data services that allow the creation of a self-service F)Ortal for German NGOS to use. Over the financial year the UIIUX for the portal was developed aiming to make it easy for NGOS to register and deepen their data profiles, by adding Ifundablel project details and bank account details. This deepening of data profiles will increase the market value of the data TS and the TSGN hold on external parties, allowing for more resources to flow into the sector. A pilot application was constructed with the help of a third party. In the next financial year we will look lo produclionise and integrate this application. Page 6
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 3. Continuing to invest in the quality and breadth of the NGO data we rety upon to deliver our Global Data Services IGDSI The breadth, accur8Cy, and credibility of our NGO data underpins the services TS offers to customers around the world and our interactions with them. TST staff within the GDS tèam continue lo lead a global data services team focused on monitoring and improving data quality and broadening NGO datasets. This financial year the GDS team have Continued to ensure TS'S NGO data Capture specifications, which drive validation, remain in line with changes in TS'S localized èligibility definitions ILEDS). This has dèlivered updates for Colombia, Georgia, Mexico, Singapore and South Africa. We will continue ongoing maintenance of these specifications over the coming financial year. The GDS team also piloted, in collaboration with the TSGN, a new process for automated cleaning-up of dats for 10 countries (Brazil, Colombia, Denmark, Mexico, New Zealand, Portugal, South Africa, Spain, Tanzania and Togol and we will continue to lead and refine and expand the pilot next year. Furthemiore, as well as the GDS team's ongoing continual monitoring of data quality and improvement of data management based on any trends and issues we uncover, the team instigated a project lo review the process of capturing legal identifiers of NGOS a key data point. TST staff within GDS led this work and collaborated with the Global Eligibility Team to create recommendations on how to improve the input form flow for legal identifiers, thereby improving the NGO user experience and the quality of data coming into TS systems. Next year the GDS team will review those recommendations with TS leadership, with a view to pilots'ng a new process to manage this in a selected set of countries. 4. Supportlng the Guldestar Indla platform With the retiring of other Guidestar International platforms in previous years, we have narrowed efforts in this area to maintaining the directory platform the GDS team developed with Guideslar India. This solution continues lo provide a robust plattorm, enabling membership numbers in India to rise from 10,803 to 11,294 in the financial year. This platform continues lo be a key tool in educating the public as lo the registered NGOS. work and promoting their causes and endeavours in India. S. Engaging. enabling. and supporting our TSGN partners in delivering global offers to their local NGOS TS and TST continue lo invest in resourcing the support of the TSGN al both the program and the partner level. In Pf 2022, the TSGN team expanded lo include a business operations resour hired by TST. The core focus of this new role is on operationalizing the delivery and capability that supports TSGN partners in successful delivery. This resource works in collaboration with the TST leadership team and key members across our enterprise and neIOrk including FTS, TS, and TS'S regional centres focusing on evolving the TSGN'S operating model, giving more visibility lo our neOrk of partners on platform feature requests and updates. In FY 2022, the Russian invasion of Ukraine provided an urgency lo our support of TSGN and NGOS. TST senior staff worked actively with the TSGN to support the groups that were helping internally diSplad persons and refugees who crossed the borders into Poland, Romania, Moldova, and the Czech Republic and continue to move across Europe. For FY 2022, TS has seen the need for training and knowledge base areas with TSGN deepen. To support this need, TS has invested and widened the focus areas of training, with our TST based team member enabling this by broadening its role lo have a more global scope of responsibility. The key training focus has continued lo be on helping TSGN partners adopt functions, processes, and platforms that enable local NGOS access lo the technology solutions they need to be more effective and efficient. One major change In FY 2022 was In providing training lo partners lo understand and support the changes to the Microsoft donated and discounted offers available on their platforms. This aligned with this resource's continued focus on updating documentation and training resources to support this as well as other changes like the platform migration work that finished in FY 2022. Page 7
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 For FY 2023, the TST lead will build on the critical training and knowledge documentation on new programs le.g. Adobe Expressl that they have started on this financial year, as well as expanding recurring meetings with TSGN partners to support their needs. The training team has launched new recurring meetings with TSGN partners in the Asia-Pacific region and plan on launching 8 similar set of meetings in the Americas. The training team are 81so providing partners with training and data on how to best track their NGO data. In addition lo the TSGN programme support above, TSGN servicès continue to benefit from TST'S infraslruclure engineer, meaning that in our European region we have a technical resource who can monitor and support the core infraslruclure that supports many of these global offers for the TSGN, working with Ts-based U.S. infrastructure teams to ensure a more effective 24171365 support service. In FY 2023, from a TSGN support perspective we will be assessing and evolving our resources and strategic focus for our TST based resources, to continue to best support our partner neOrk as the TSGN Marketplace continues to evolve. To summarise, by working across all these five streams of work, we continue to drive to, and meet, TST'S incorporated objectives through this ever-expanding, bul closely integrated body of work. TST'S objectives Istsled as 'Objecls' in our articlesl are reststed below. The trustees have given them careful consideration in relation to the Charity Commission's guidan on public benefit. The Techsoup Trust Objects.. To advance education in all aspects of charities and voluntary organisalions throughout the world, including Ibul not limited lol their activities. regulation, and systems of organisation To promote charity and charitable endeavours To promote the voluntary sector for the benefit of the public To promote efficiency and effectiveness of charities By (amongst other things) encouraging the establishment of inlemalional, national. regional, or local civil society organisalions to develop and maintain publicly available databases about the acb"vilies and finances of charities established in particular jurisdictions. FINANCIAL REVIEW Introduetion During the year, TST was, and continues lo be, reliant upon the financial support of its parent TS. With such support, the charitable company is in a latiVelY strong financial position, with TS'S financials continuing to main strong (see details at https."Ilyearinreview.leehsoup.orglfinancialsl. The TST has seen a reduction in the Validation Services venue contracted directly to donors from £109,701 to £98,384. This was due to the combination of the following factors." the loss of Sage and Flixbus as customers", the continued lower activity within our remaining travel-based offers," and the impact of exchange rate fluclualions. TST has though increased its the number of VS customers from 10 10 13. 11 should be noted that overall, with US based TS revenue considered, Validation Services revenue did increase in total in FY 2022. In FY 2023, we will aim to increase Validation Services revenue for TST by 100/0, 10 £108,000, via the addition of new offers from new donors and growth in Curn1 offers. As expected, we continue to not experience any impact or changes to our operations or financial stability due to Brexit in FY 2022. The VAT treatment of our validation-service-based offerings and contracts has not changed with Brexit le.g., remain zero-raled for our European cuslomersl. If VAT rates were to change with any future changes due lo Brexit, such changes would be immediately enforceable via our contracts, temis and conditions. We also have no major supplier contracts for operational services to TST with any European-based enlilies. Page 8
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 In addition lo tracking our budget and monitoring our overall financial targets (see below), we eonlinue lo work closely with TS to monitor our progress against a variety of key performance indicators IKPlsl covering both financi81 he81th indicators and measures of our impact to the sector. Throughout the year, we monitor a dashboard showing progress against targets we jointly set with TS. Key examples of these metrics are the numbèr of NGOS we connect resources lo, their global coverage, and the number of Validation Setvices clients and associated revenue. Specific targets are jointly sel each year and tracked along with overall budgèts and financial targets in the management and governance meetings detailed bèlow. For example in FY 2022, TS with the TSGN connected 292,000 NGOS in 236 countries and territories with more than US$2.2 billion in resources Isee summary at https."Ilyearinreview.lechsoup.orglimpactl. TSTS work was fundamental in helping deliver this impact through the work of the team documented in this report. Examples are by directly securing new VS donorlsuppliers, ensuring the scalability of NGOsource or in helping the TSGN lo deliver services to NGOS globally. Factors Ilkety to affect future flnanclal perfomiance or posltlon The financial stability of our U.S. parent TS, as our main source of funds, is a key factor, and TS remains stable as per the details outlined in this report. Each year, Ts's ongoing ability to support TST is confirmed in a leller of support submilled along with our accounts. TS and TST budgets are sel simultaneously to ensure that this support can be met. TS and TST management teams meet weekly lo review finances and progress against budgets and discuss actions needed to meet goals. We continue lo have income directly from organisations based in Europe for the validation services we have developed with TS. This continued lo give TST a direct source of income and continued lo reduce TST'S dependen on TS for funds and to improve our sustainability. An organisational priority is to continue to grow these services and develop this revenue stream, thereby earning a recurring return on the investment we made when we developed the tools that underpin these services. Prlnelpal fundlng sourees and how they support key obJectlves We now have three potential sources of income lo support all the streams of work outlined in this report, with the balance of income beeen them evolving from year lo year. The three sources are grants from TS to operate, grants from other partners and customers lo deliver specific projects, and direct revenue from Validation Services customers in Europe. In FY 2022, we only used tsvo of these SoUrs, grants from TS to operate and revenue from Validation Services. Financial reserves management Our main source of funds, as outlined previously, remains TS and the funds it provides. Funds are provided by TS as required in order to operate against budgets set annually. TS and TST management staff meet weekly to review current bills and finances, as well as cash reserves, which TST aims lo maintain al approximately to three months, worth of operating costs. When TST'S cash reserve goes below this threshold, TST management address any immediate risks and agree with TS about the earliest possible transfer of additional funds. Al the financial year-end, unrestricted cash reserves lotaled £389,679, and unreslricled reserves lotaled £328,701, which management believe are sufficient lo cover the reserves policy outlined above. TST will continue lo watch this metric closely and ensure that we manage cash efficiently with our parent organisation. STRUCTURE. GOVERNANCE. AND MANAGEMENT Context and key relationship with Techsoup TST was incorporated on 17 October 2005 and is governed by its articles of association as amended 23 March 2010. TST registered as a charity in England and Wales on 9 June 2006. TST is governed through a proven and resilient set of slruclures, engaging our board of trustees and our management team, down lo the leaders of the individual teams and staff. Our "members" ITS and the CEO and board member of TS, Rebecca Masisak- see the organisalional structure section that follows for more details) are in charge of making changes to our charitable constitution or board of Iruslees. Page 9
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 Fundamental to this structure is TST'S relationship with our parent organisation TS, a U.S.-based NGO (see more details at meet.techsoup.orgl. We work closely with TS leadership lo ensure that our goals are aligned and then manage delivery of our objectives and mission in partnership. TST retains its own identity and sponsibilities as a U.K.-based Charity and ensu$ its ability to meet all reporting obligations to Companies House, the Charity Commission, and HMRC by having locally based experts on the board and also by retaining a U.K.-based legal secretary, U.K.-based bookkeepèr, and U.K.- based auditor who are experts in U.K. gUlationS and compliance needs. Relationships with other key parties with whom TST cooperates to deliver our mission-based objectives Other organisalions of note that TST works with are the partner organisalions that make up the TSGN. This is a group of approximately 60 mission-aligned NGOS across the wodd that work together to deliver a suite of global services, educational assets, technology tools, and other resources to NGOS. In addition, we continue lo work with Fundacja Techsoup (based in Polandl,. on numerous projects from running elements of our validation services, to training TSGN partners lo run global programmes, lo co-hosting workshops and conferences on NGO capacity building, NGO digitsl Iransformalion, and NGO transparency and accountability. We have also worked closely with the TSGN member Guideslar India (w.gUideStarlndIa.or9l lo develop and maintain a directory platform that provides transparency of key NGO organisational details in that country and offers services needed by Indian NGOS. Oryanlsatlonal strueture and governance processes overvlew TST'S governance is based on tiers of control and reporting. The below lists key responsibilities and operational processes at various levels of governance within TST and detsils how these tiers effectively interact, oversee, and manage TST'S activities. The Techsou Trust members Techsoup and Rebecca Masisak Iwho is TS'S CEO and a board member of TSI This most senior level of governance has ultimate control over TST, approving TST'S annual report, approving the auditorfs appointment and appropriate remuneration, appointing trustees, and approving any significant change to TST'S 'Articles of Incorporation" The Techsou Trust's board of trustees TST'S board consists of proven experts across finan, the NGO sector in the U.K., the wider TSGN we are members of, and the subject and domain areas required to achieve our mission and objectives. The board meets multiple times a year including annually lo review and approve TST'S annual report and associated documentation and lo reaffi'rm support from TS. New trustees are briefed on their legal obligations under charity and company law, the conlenl of the memorandum and articles of association, the board, decision-making prosses, the business plan, and the recent fi'nancial performance of the charitable company. TST'S budget is approved by TS each year as part of the broader TS budget review and approval cycle, and a letter of support is provided by TS al that time confirming Ts's ability and intention lo continue lo provide funds to TST. The board is kept updated as to progress against objectives with monthly reports from our executive director Ithese reports are also shared with other stakeholders, including TS leadership). The board meets al least twi a year to review progress against objectives, ratify our financial position, provide advi and direction on key matters, and, In one of these meetings, to approve the annual report and accounts. In addition, TST leadership would also seek an eXptIOnal board meeting lo review any financial, reputational, or major delivery risks to TST. Through these reporting and governan processes, significant risks can be raised by the TST management team, and mitigations can be confirmed with trustees. Page 10
THE TECHSOUP TRUST A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 In addition, these processes all()w the trustees to raise concems about any risks they foresee in a timely and proactive manner. John McDermott, a member of the board and Ts's vice president of finance, meets weekly with TST leadership members to review day-lo-day financial opemtions tracking cash flow and reserves, operational financial payments, and legislative reporting requirements Iquarterly VAT returns, annual audits, elc.). The Techsou Trust leadershi TST'S executive director, Paul van Haver, and the senior director, Jonathan Toomer, meet weekly to review delivery against objectives, finances, and also any other day-lo-day management issues within the organisalion. External audit and oversi ht TST has retained both a legal secretsry IM&N Group Limited) and a U.K. auditor ILubbock Fine LLPI to ensure compliance with U.K. company and charity laws and best practices. TST also has a U.K.-based bookkeeper ITrayler Lane), who ensures that all bills are entered and administered and who manages payroll, with the support and oversight of experienced TS specialist fi'nancial staff. Remuneratlon management As TST is a small organisation of approximately 16 staff, we look lo our parent TS to assist us with People & Culture IP&CI management functions and specific P&C processes such as staffing reviews and pay assessments. TST follows the same employee review processes as TS (which has approximately 300 staffj. Pay reviews have formed part of these processes, and any change in staff remuneration is based on a combination of performan assessments, any promotion or change of duties during the period, and a review of external market factors (such as inflation rates and global pay rates for specific skills), balanced against overall TS financial results. Pay and promotions are proposed upon review of these factors by department leads in conjunction with the TS People & Culture department and ultimately approved by the TS CEO Irepresenling TST'S members, intereslsl. DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are trustees at the lime when this trustees. report is approved has confimied that.. so far as that trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware,. and that trustee has taken all the steps that ought to have been taken as a Iruslee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. In preparing this report, the Iruslees have taken advantage of the small companies, exemptions provided by section 415A of the Companies Act 2006. This report was approved by the Iruslees and signed on its behalf. John McDermott Trustee Vice President of Finance, Techsoup Dale.. 23 March 2023 Page11
THE TECHSOUP TRUST A Company Limited by Guarantee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2022 The trustees (who are also the directors of the charity for the purposes of company lawl are osponsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Iruslees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statèments unless they are satisfied that they give a true and fair view of the stale of affairs of the charity and of ils incoming resources and application of resources, including its income and expenditu, for that period. In preparing these financial ststements, the trustees are reqUId lo". select suitable accounting policies and then apply them consistenlly., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial slalemenls., prepare the financial statements on the going concem basis unless Il Is Inappropriate lo presume that the charity will continue in business. The Iruslees are responsible for keeping adequate accounting records that are sufticienl lo show and explain the charity's transactions and disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 12
THE TECHSOUP TRUST IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TECHSOUP TRUST FOR THE YEAR ENOED 30 JUNE 2022 Opinion We have audited the financial statements of The Techsoup Trust (the 'charity'l for the year ended 30 June 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements. give a true and fair view of the stale of the charitable company's affairs as at 30 June 2022 and of its incoming resources and application of resources, including ils income and expenditLJre for the year then ended", have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. 8asls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Coneluslons relatlng to golng concem In auditing the financial ststemenls, we have concluded that the Iruslees. 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 UnrtaIntieS relating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of at least Ie1ve months from when the financial slalements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Page 13
THE TECHSOUP TRUST A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TECHSOUP TRUST ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 other information The other information comprises the information included in the Annual Report other than the financial statements and our Auditors. Report thereon. The Iruslees 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 lo the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslalements, we are required lo determine whether this gives rise lo a material misslatemenl in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslalement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other mattgrs prgscribgd by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees. Report for the financial year for which the financial slalements are prepared is consislenl with the financial slalements. the Trustees, Report has been prepared in awordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and Ils environment obtained in the course of the audit, we have not identified material misstalemenls In the Trustees, Report. We have nothing to report in respect of the following matters in relation lo which Companies Act 2006 requires us to report lo 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 retums., or certain disclosures of trustees, remuneration specified by law are not made, or we have not received all the infomialion and explanations we require for our audit., or the trustees were not entitled lo prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies, exemptions in preparing the Trustees. Report and trom the requirement lo prepare a Strategic Report. Responsibilities of trustees As explained more fully in the Iruslees, Responsibilities Ststemenl, the Iruslees (who are also the directors of the charitsble company for the purposes of company lawl 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 trustees 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 trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going GOnM basis of accounting unless the trustees either intend to liquidate the charitable company or to ase operations, or have no realistic alternative bul to do so. Page 14
THE TECHSOUP TRUST A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TECHSOUP TRUST ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 Auditors. responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are tree from material misslalement, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable assuran is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will aayS detect a material misslalement when il exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are Instances of non-complian with laws and rulations. We design procedures in line with our responsibilities, outlined above, lo delecl material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, Including traud is detailed below.. In identifying and assessing risks of material misslalemenl in respect of irregularities, including fraud and non- compliance with laws and regulations, we considered the following. Enquiries of management, including obtaining and reviewing supporting documentation, concerning the charity's policies and prOdureS relating to.. identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance., detecting and responding lo the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., and the inlemal controls established to mitigate risks related lo fraud or non-complianTr of laws and regulations. Discussions among the engagement team regarding how and where ffftud might occur in the financial statements and any potential indicators of fraud. The engagement team includes audit partners and staff who have extensive experience of working with charities in similar sectors and this experien was relevant to the discussion about where fraud risks might arise. We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had direct effect on the determination of material amounts and disclosures in the financial slatemenls. The key laws and regulations we considered in this context included the UK Companies Act, Charities SORP 2019 and FRS 102. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which may be fundamental lo the charity's ability to operate or to avoid a material penalty. As a result of these procedures, we considered the particular areas that were susceptible to misstalemenl due to irregularity, including fraud were in respect of revenue recognition and management override. Our prOdureS to respond lo risks identified included the following.. Reviewing the financial statement disclosures and testing lo supporting documentation lo assess complian with provisions of levant laws and regulations described as having a direct effect on the financial statements., Enquiring of management concerning actual and potential litigation and claims., Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstalemenl due to fraud., Reading minutes of meetings of those Charged with governance., Reviewing income recognition on a sample basis to identify any CLJt off errors or the incOrCl recognition and classification of contract income, Page 15
THE TECHSOUP TRUST A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TECHSOUP TRUST ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2022 In addressing the risk of fraud throLJgh management override of controls, lesling the appropriateness of journal entries and other adjustments," assessing whether the judgements made in making accounting estimates are indicative of a potential bias", and evaluating the rationale of any significant transactions that are unusual or outside the nom)al course of the charity's operations. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading to a material misslatemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliancè with a law or regulation is removed from the events and transactions flected in the financial statements, as we will be less likely lo become aware of instances of non-complian. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentstion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. ww4.frc.or .uklauditorsres onsibilities. This description forms part of our Auditors, Report. Use of our report This report is made solely lo 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 stale to the charitable company's members those mallers we are required lo stste to them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. David Chandra (Senior Statutory Auditor) for and on behalf of Lubbock Fine LLP Chartered Accountsnts & Ststutory Auditors Palernosler House 65 St Paul's Churchyard London EC4M 8AB Dale..24 March 2023 Page 16
THE TECHSOUP TRUST A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Note Income from- Charitable activities other income 98,384 1,442,514 98,384 1,442,514 109,701 1,030,508 Total Income 1,540,898 1,540,898 1,140,209 Expenditure on: Raising funds Charitable activities 137,497 1,372,137 137,497 1,372,137 99,679 999,292 Total expendlture 1,509,634 1,509,634 1,098,971 Net movement in funds 31,264 31,264 41,238 Reconciliation of funds: Total funds brought forward Nel movement in funds 297,436 31,264 297,436 31,264 256,198 41,238 Total funds carriod forward 328,700 328,700 297,436 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 20 to 31 fomi part of these financial stalemenls. All income and expenditure in 2021 related lo unrestricted funds. Page 17
THE TECHSOUP TRUST A Company Limited by Guarantee) REGISTERED NUMBER.. 05594889 BALANCE SHEET AS AT30 JUNE 2022 2022 2021 Note Current assets Debtors Cash at bank and in hand 49,646 389,679 46,872 331,677 439,325 378,549 Creditors.. amounts falling due within one year 12 1110,6241 181,1131 Net current assets 328,701 297,436 Total assets less current liabilities 328,701 297,436 Total net assets 328,701 297,436 Charity funds Unreslricled funds 15 328,701 297,436 Total funds 328,701 297,436 The financial statements have been prepared In accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by". John McDermott Trustee Vice President of Finance, Techsoup 23 March 2023 Dale.. The notes on pages 20 to 31 form part of these financial stalemenls. Page 18
THE TECHSOUP TRUST A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2022 2022 2021 Note Cash flows from operatlng actlvltles Nel cash used In operating activities 58,002 36,113 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 58,002 36,113 331,677 295,584 Cash and cash equivalents at the end of the year 18 389,679 331,677 The notes on pages 20 to 31 fomi part of these financial statements Page 19
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 General Information The Techsoup Trust is a company limited by guarantee and a registered charity in England and Wales. Its company registration number is 05594889 and ils charity registration number is 1114615. Ils registered office is 1 PrInlOn Mews, 167-169 London Road, Kingston Upon Thames, Surrey KT2 6PT. Ils principal Pla of business is 64 Clarence Avenue, Ganls Hill, IG2 6JE. The financial statements are presented in sterling, which is the functional currency of the charity. Accounting Policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Aceounling and Reporting by Charities." Statement of Recommended Practice applicable to charities pparIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Techsoup Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or lonsaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The charity meets ils day-to4ay funding requirements through the support of its sole corpOte member Techsoup Global. The Iruslees believe that it is appropriate to prepare the financial statements on a going concern basis which assumes the charity will continue in operational existence with the continued support of ils member organisalion. 2.3 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtheran of the general objectives of the charity and which have not been designated for other purposes. 2.4 Income All income is recognised once the charity has entitlement to the income, il is probable that the income will be received and the amount of income re1vable can be measured reliably. Voluntary income reiVed by way of grants and donations is included in full in the Ststemenl of Financial Activities when re1Vable. Revenue grants are credited lo the Ststement of Financial Activities when receivable. When unconditional entiuement lo grants receivable is dependent upon fulfillmenl of conditions within the charity's control, the incoming resources are recognised when there is sufficient evidence that conditions will be met. Incoming resources from the provision of validation ServIS are recognised in line with the relevant contract, when it is probable that the economic benefits will flow lo the charity and the income can be measured reliably. Income from a contract lo provide services is recognised in the period in which the SeNiS are provided in accordance with the contract. Page 20
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting Policies (continued) 2.4 Income Icontinuedl Other incoming resources are recognised in the SOFA when receivable. 2.5 Expenditure Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation lo activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Costs of raising funds Costs of raising voluntary and other incoming reSoUrS relate to the costs incurred by the charity in inducing third parties to make voluntary contributions lo it, as well as the cost of any activities with a fundraising purpose. Costs of charitablo activities The costs of The Techsoup Trust programme activities, which include validation services, comprise expenditure on the defined charitable purposes of the charity and Include direct stsff costs attributable to the activity and an allocation of the general management and overhead costs. Allocation of dirgct costs Direct costs are allocated to each of the activities on the following basis which is an estimate, based on staff lime, of the amount attributable lo each activity.. Costs of raising funds The Techsoup Trust programme 10° 900 Allocation of support costs Support costs are allocated to each of the activities on the following basis which is an estimate, based on staff lime, of the amount allributable lo each activity.. Costs of raising funds The Techsoup Trust programme 1000/. 2.6 Operating leases Rentals paid under operating leases a charged to the Slalement of Financi81 Activities on a straight line basis over the lease term. 2.7 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. 2.8 Debtors Trade and other debtors are recognised at the selllemenl amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Page 21
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting Policies (continued) 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and 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. 2.10 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling al rates of exchange ruling al the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Acb"vilies incorporating Income and Expenditure Account. 2.11 Liabilities and provisions Liabilities are recognised when there Is an obligab.on at the Balance Sheet dale as a result of a past event. it Is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl can be estimated reliably. Liabilities are recognised al the amount that the charity anticipates it will pay to sellle the debt or the amount il has received as advanced payments for the goods or services it musl provide. 2.12 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 al transaction value and subsequenuy measLJred al their settlement value with the exception of bank loans which are subsequently measLJred at amortised cost using the effective interest method. 2.13 Pensions The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity lo the fund in respect of the year. Income from charitable activities Unrestricted funds 2022 Total funds 2022 Provision of validation servi8 98,384 98,384 Page 22
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Income from charitable activities Icontinuedl Unrestricted funds 2021 Total funds 2021 Provision of validation ServIS 109,701 109,701 Other incoming resources Unrestricted funds 2022 Total funds 2022 Contributions from Techsoup Global 1,442,514 1,442,514 Unrestricted funds 2021 Total funds 2021 Contributions from Techsoup Global 1,030,508 1,030,508 Costs of raising funds Costs of raising voluntary income Unrestricted funds 2022 Total funds 2022 Costs of raising voluntary and other incoming resources 137,497 137,497 Page 23
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Costs of raising funds Icontinuedl Costs of raising voluntary income Icontinuedl Unrestricted funds 2021 Total funds 2021 Costs of raising voluntary and other incoming resources 99,679 99,679 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2022 Total 2022 The Techsoup Trust programme 1,372,137 1,372,137 Unrestricted funds 2021 Total 2021 The Techsoup Trust programme 999,292 999,292 Page 24
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysis of expenditure by activities Activities undertaken directly 2022 Support costs 2022 Total funds 2022 The Techsoup Trust programme 1,237,469 134,668 1,372,137 Activities undertaken directly 2021 Support costs 2021 Total funds 2021 The Techsoup Trust Programme 897,113 102,179 999,292 Analysis of support costs Total funds 2022 Activitie5 2022 Staff costs Hotel, travel, entertainment, and subsistence Legal and professional Other support costs 115,948 329 15,105 3,286 115,948 329 15,105 3,286 Total 2022 134,668 134,668 Page 25
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysis of expenditure by activities Icontinuedl Analysis of support costs (continued) Total funds 2021 Activities 2021 staff costs Hotel, travel, entertainment and subsistence Legal and professional Other support costs 83,897 41 83,897 41 15,502 2,739 15,502 2,739 Total 2021 102,179 102,179 Net incominglloutgoingl resources 2022 2021 This is stated after charying: Auditor's remuneration - audit costs Igovernancel Auditor's remuneration - other 5,750 4,100 5,750 4,125 9,850 9,875 Staff costs 2022 2021 Wages and salaries Social security costs Contribub'on to defined contribution pension schemes 1,248,121 155,397 45,827 909,241 105,172 34,304 1,449,345 1,048,717 Included within wages and salaries are other employee benefit costs of £82,67012021- £37,416). The average number of persons employed by the charity during the year was as follows.. 2022 No. 2021 No. Average number of employees 16 Page 26
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 staff costs {continued} The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,000 was.. 2022 No. 2021 No. In the band £60,001 - £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 In the band £90,001- £100,000 In the band £100,001- £110,000 In the band £100,001- £120,000 In the band £120,001- £130,000 In the band £130,001- £140,000 In the band £140,001- £150,000 During the year key management personnel mUneratIOn including employers national insuranee and employers pension totaled £271,377 12021 £265,919). 10. Taxation The charitable company is a registered charity with the Charity Commission for England and Wales. 11 is not liable to corporation lax on any surplus arising from ils charitable activities. 11. Debtors 2022 2021 Due within one year Trade debtors Other debtors 20,292 773 19,157 1,901 25,814 Prepayments and accrued income 28,581 49,646 46,872 Page 27
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 12. Creditors: Amounts falling due within one year 2022 2021 Trade creditors other taxation and social security Other creditors Accruals and deferred income 10,556 57,533 628 41,907 5,691 34,135 41,287 110,624 81,113 13. Pensions The charity operates a defined contribution pension scheme. Total costs lo the charity in respect of the scheme for the year ended 30 June 2022 were £45,827 12021 £34,404) Al the balance sheet date amounts totsling £6,91812021- £5,2271 were outstanding in respect of this scheme. 14. Operating lease commitments At 30 June 2022 the charity had commitments lo make future minimum lease payments under non- CanlIable operating leases as follows.. 2022 2021 Amounts payable: Within 1 year 6,600 6,600 Lease payments recognised as an expense in the year tolaled £13,20012021 £13,238). Page 28
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 15. Statement offunds statement of funds- current year Balance at 30 June 2022 Balance at 1 July 2021 Income Expenditure Unrestricted funds General funds 297,436 1,540,898 11,509,633) 328,701 Statement of funds prior year Balance at 30 June 2021 Balance at 1 July 2020 Income Expenditure Unrestricted funds General funds 256,198 1,140,209 11,098,971) 297,436 16. Analysis of net assets between funds Analysis of net a$sets between funds- Current period Unrestricted funds 2022 Totsl funds 2022 Current assets Creditors due within one year 439,325 1110,6241 439,325 1110,6241 Total 328,701 328,701 Page 29
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 16. Analysis of net assets between funds Icontinuedl Analysis of net assets between funds- prior period Unrestricted funds 2021 Total funds 2021 Current assets 378,549 181,1131 378,549 181,1131 Creditors due within one year Total 297,436 297,436 17. Reconciliation of net movement in funds to net cash flow from operating activities 2022 2021 Nel income for the year las per Statement of Financial Activiliesl 31,264 41,238 Adjustments for: Decrease in debtors Increase in creditors 12,7741 29,512 120,9271 15,802 Net cash provided by operating activities 58,002 38,113 18. Analysis of cash and cash equivalents 2022 2021 Cash in hand 389,679 331,677 19. Analysis of changes in net debt At1Juty 2021 Cash flows At 30 Jung 2022 Cash at bank and in hand 331,677 58,002 389,679 Page 30
THE TECHSOUP TRUST A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 20. Related party transactions There were no related party transactions in the current or prior year other than the contributions from Techsoup Global disclosed in note 4. 21. Parent undertaking Techsoup Global, a nonprofit public benefit corporation based in the United Slates of America with entity number C1503831, is the sole corporate member of The Techsoup Trust. As a result, Techsoup Global is the parent undertaking of The Techsoup Trust and exercises Ils control through the appointment of trustees. The activities of this parent entity are in line with those of The Techsoup Trust. The address from which the public can obtain the consolidated financial stslements is.. 435 Brannan St Suite 100, San Francisco CA 94107, USA. 22. Company limited by guarantee The Techsoup Trust Is registered In England, limited by guarantee and has no share capital. The liability of the members is limited lo £1. The Techsoup Trust is registered with the Charity Commission for England and Wales. Page 31