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2023-06-30-accounts

Registered number: 05594889 Charity number: 1114615

THE TECHSOUP TRUST FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

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 1
Executive Director's Statement 2 - 3
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 2023

Trustees C. Armstrong
W. Hoyle
R. Jauch
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 St 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 2023

The Executive Director presents his statement for the year.

A summary of this year's progress

The financial year 2023 (FY 2023) saw The TechSoup Trust (TST) continue to deliver globally to the nonprofit sector, through the work we undertake in partnership with our parent TechSoup Global (referred to as TechSoup or TS from here on) and the wider TechSoup Global Network (TSGN). In FY 2023, the TSGN delivered more goods, services, and resources to more civil society organizations than ever before. More specifically the TSGN connected 302,000 NGOs in 216 countries and territories with more than US$2.4 billion in resources. TS's Validation Services (VS) played a key role in this impact serving 186,000 of these NGOs, via approximately 317,000 validation check requests. This growing contribution of VS to TS's overall impact continues to reflect the trend of many cloud-based services being available through TechSoup via VS, and emphasizes the importance of the digital transformation processes that civil society globally continue to adopt.

TST's team remained remote working, enabling us to continue to deliver all our services, and indeed expand and adapt to deliver to the ever-evolving needs of the sector whilst minimizing administrative costs. This year the main changes in our TST staffing included taking on key roles in the program and product management of TechSoup's innovative Quad membership subscription offer and broadening our roles in TechSoup’s global business development team beyond focusing solely on VS.

Highlights of TST's contribution both to TSGN's global impact and to 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:

TST staff performed these key roles on these programmes not in isolation, but working with TS, Fundacja TechSoup (FTS), other regional TS staff in Africa, South America and Asia, and with TSGN partner staff, in truly global remote working teams.

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THE TECHSOUP TRUST (A Company Limited by Guarantee)

EXECUTIVE DIRECTOR'S STATEMENT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

As in previous years, underpinning all these programmes remains our investment in our Global Data Services (GDS) and the quality of our data, maintained through the efforts of not just GDS staff but staff across many teams including the CTP and Partners Services teams for instance - 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 317,000 validation requests that TS performed last year alone. Similarly fundamental is the development of our CTP - which is now the foundation for our existing VS and is expanding to form the basis of other key services like NGOsource. Finally, the investment in support of our TSGN management and associated platforms 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 mobilization across ever more of our operations, is at the basis of our strategy to best serve the sector .

Looking Forward

In the year ahead, we in TST will continue to work with our TS and FTS colleagues, and the TSGN, to further expand our impact to the sector. Through increasingly diverse and impactful global data-based services and the wider range of services, the CTP will continue to underpin the support and impact of our partner network. The new membership service Quad will evolve and grow as it supports communities of NGOs more holistically, with both resources and community engagement across more communities and more countries. VS will continue to be a prime focus of the TST team and TechSoup globally, with us aiming to find ever more donors whose services and assets we can connect to NGOs globally. TST will also work closely with TS to develop cost reduction strategies to ensure both parties can continue to meet their missions in the coming financial years, reflecting the financial position outlined in this statement.

Finally we expect TST staff to play key roles in the designing and governing of major new transformative internal technology programs within TS – such as the selection and then evolution of enhanced CRM (Customer Relationship Management) capabilities for TechSoup. This is a key program that is in the envisioning stages and aims to ensure that TS has a platform, that when integrated with our CTP and unparalleled NGO data therein, can ensure that we continue to best serve the global NGO community into the decade to come.

TechSoup remains committed to progressing in its strategically identified growth areas. These encompass the solutions marketplace, applications for social good, data and validation services, and enhanced business processes, all of which enable us to adapt, replicate, and expand our efforts for a more significant impact. Recognizing civil society as the forefront of the Sustainable Development Goals (SDGs), we understand the importance of building resilience to tackle future challenges. Our partnerships with organisations play a pivotal role in driving digital transformation and fostering collaboration, ultimately contributing to the achievement of all SDGs.

Yours sincerely,

Paul Van Haver, Executive Director Date: 22 March 2024

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THE TECHSOUP TRUST (A Company Limited by Guarantee)

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2023

PRINCIPAL ACHIEVEMENTS FOR THE YEAR ENDING 30 JUNE 2023

The trustees (who are also directors for the purposes of company law) present their annual report, which includes the directors' report, together with the audited financial statements for the year that ended 30 June 2023. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document, and the provisions of the recommended practice (SORP), applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the U.K. and Republic of Ireland (FRS 102).

As in previous years, the TST team has continued to work with our U.S.-based parent organisation TS, and our TSGN partners, across what now are six main streams of work (developing upon the five streams we stated last year) , with the work evolving as we progress in our aims to 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 transformation of our work and empower our Global Data Services. The six complementary work streams also ensure that we continue to increase our impact and benefit to 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:

The details that follow illustrate our achievements over FY 2023 and frame our goals for the year ahead, giving context around key decisions and our current focus. To recap, these are the six key areas of work we continue to progress as in previous years:

  1. Validation Services and due diligence

  2. Business development

  3. Building the basis for a next-generation TechSoup Marketplace, whilst enhancing delivery of key data services using our CTP

  4. Continuing to invest in the quality and breadth of the NGO data we rely upon to deliver our Global Data Services

  5. Supporting the GuideStar India platform

  6. Engaging, enabling, and supporting our TSGN partners in delivering global offers to their local NGOs

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THE TECHSOUP TRUST (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

1. Validation Services and due diligence

TechSoup's VS helps deliver technology products and services to the NGO sector. In FY 2023 this involved validating NGOs in 211 countries and territories for our partners' social impact, corporate social responsibility (CSR), and philanthropy programs (see updated link ). In FY 2023, VS check requests reached a record 317,000 from NGOs requesting donor offers across 211 countries and territories, as VS served 186,000 unique NGOs in the financial year. Together with existing clients including Microsoft, Meta, eBay, PagerDuty, PayPal, Benevity, and many others - VS now serves a total of around 60 clients.

We continued to maintain our customer base in the UK adding three new customers contracting directly via TST, keeping the total directly contracted VS customers to TST to 12. We did have a couple of customers close their programs. For example, with the global sudden closure of the Amazon Smile program our work with this program in Germany and Austria came to an end. We continue to have a very constructive wider relationship with Amazon in no small part though borne from our work on this VS program together, and are hopeful in the long term we will develop other global programs enabling Amazon philanthropic effort, using TechSoup’s multiple global due diligence capabilities.

In FY 2023 TS also continued its development of STEP, another of our due diligence and competence building offerings. STEP (https://step.techsoup.org) helps civil society organisations improve their governance, risk management, and compliance processes in collaboration with the TechSoup Global Network.

These are some of the year’s highlights for STEP:

The TST team members of the STEP team were integral in the creation of the resource portal and creation of the assets therein, as well as managing many of the deliverables above.

Looking forward, STEP seeks partners and funders to support what we believe can be a transformative philanthropic shift to make localization of resources possible. At the core of this vision is the desire to continue building on TechSoup’s long-standing ethos of supporting civil society infrastructure. This includes giving more ownership to CSOs all along the philanthropic supply chain by empowering them to leverage their data in ways that amplify local communities and strengthen the sector as a whole.

2. Business development

TST staff focused on creating a business development strategy to identify potential donors for TS services in the European region and then execute that strategy to seek new donors. This strategy was anchored in deepening our focus on our existing relationships with local TSGN partners, with the goal of securing additional resources for the benefit of the NGOs we serve. We expect this to help develop more donor offers in FY 2024 across many of TS’s services, and in FY 2023 we saw the addition of three new donors contracted to TST for VS alone.

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THE TECHSOUP TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

3. Building the basis for a next-generation TechSoup Marketplace, whilst enhancing delivery of key data services using our CTP

TechSoup’s CTP is at the heart of TechSoup’s validation services, serving clients like Microsoft, Benevity, and PayPal with a fully integrated solution to allow safe access to their donated resources. The CTP is a collection of hundreds of application programming interfaces (APIs) deployed and used worldwide to support millions of transactions a year.

This year the CTP team focused on making many of those services available in cooperative apps (CApps), allowing customers and TechSoup staff easy access to the data they require to do their jobs. The modern CApps infrastructure and fully scalable properties of the platform allow for easy and quick deployment globally. The team also deployed a new CTP-based NGO Portal to support our NGOsource service in acquiring data from NGOs to perform an equivalency determination for grants coming from many US-based grantmakers – See more on celebrating the 10[th] anniversary of this program at

https://tenyears.ngosource.org/NGOsource10YRFinalv8.pdf. The new solution offers a much improved user experience and better administrative tools, including the ability to quickly add new languages and currencies.

The CTP forms the basis of TechSoup’s data backbone, allowing donors to quickly check if an NGO interacted with TechSoup or needs to go through our validation process to acquire their resources. It continues to form the basis of our future cooperative data platform.

TST staff were integral to all of these CTP initiatives both co-leading design and working hands-on to develop new CApps and support our live services.

In parallel with these developments of our CTP, and as part of our developing marketplace strategy, we have continued to build out and grow our Quad membership offer, deepening our engagement with NGOs and their access to experts and offering a new dynamic to our marketplace. Quad is TechSoup's membership community where NGOs can connect with tech experts and each other to find the support they need to achieve their missions.

This year, Quad reached 293 community members from 106 organisations and produced more than 50 helpful content resources. The most popular areas on the platform included in-depth, step-by-step guides to using and integrating digital tools in new ways to meet NGOs’ needs. The most popular discussion space was Emerging Tech, with 208 members, followed by Microsoft Cloud, with 169 members, and Food Security, with 84 members. For more information on Quad see the TS Year In Review at https://page.techsoup.org/introducingquad. In FY 2024 Quad plans to launch discussion groups on Cybersecurity and Makers of Public Good Tech and to expand into Poland next.

TST staff were instrumental in the progress of Quad, fulfilling both the program lead and product lead roles in FY 2023, pulling together a global team to deliver this key NGO membership service.

4. Continuing to invest in the quality and breadth of the NGO data we rely upon to deliver our Global Data Services (GDS)

The breadth, accuracy and credibility of our NGO and public library data underpin the services TS offers to customers around the world and our interactions with them e.g. via our Validation Services. TST staff within the GDS team continue to lead a Global Data Services team focused on monitoring and improving data quality and broadening NGO and public library datasets.

This financial year the GDS team created and delivered our first data capture specifications for non-NGO public libraries, covering public libraries recognized by the Institute of Museum and Library Services (IMLS) in the US and territories. the GDS team also continued to ensure that our NGO data capture specifications remain in line with changes to TS's localized eligibility definitions (LEDs), seeing updates in many countries – an ongoing process that will always remain ongoing as local standards change.

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THE TECHSOUP TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

The team also improved the experience for consumers of our data capture specifications, by streamlining the way in which we deliver the specifications to clients. the GDS team will continue to strive to improve the ways in which our specifications are consumed and implemented next year, with the goal of further improving the quality of data flowing into TS systems.

Following on from the pilot we ran last year with the TSGN on cleaning-up data in a more automated way, the GDS team collaborated with technical team members of FTS in Warsaw to improve the process of cleaning-up data by script on partner platforms.

TST staff co-led the work detailed above and will continue to work as core members of the GDS team to refine and expand this work next year, including improving the NGO user experience with a focus on the quality of legal identifier data coming into TS systems – a key data point in our common data model.

5. Supporting the GuideStar India platform

The GuideStar India platform remains steadfast in offering a reliable solution enabling our partner GuideStar India to deliver, connect to and work with Indian NGOs. TST continue to support and manage the technology that runs this platform – which is based on the solution developed many years by TST.

Membership numbers in India continued their year on year rise , growing from 11,294 in FY 2022 to 11,856 in the current financial year, with the platform continuing to play a crucial role in educating the public about the work of registered NGOs and promoting their various causes and initiatives in India.

However, given the age of the technology behind the solution we are now actively planning a migration strategy to a new technology stack, which our partner GuideStar India will develop and run themselves. This migration is targeted for late FY 2024 or early FY 2025.

6. Engaging, enabling and supporting our TSGN partners in delivering global offers to their local NGOs

The TechSoup Global Network of 60+ partners operates in 39 languages to share solutions, skills, communities, insights, and strategies that help civil society improve its resilience and respond to the challenges of the future.

TS continuously works with its network partners on the Evolution of the TechSoup Global Network to meet the changing needs of NGOs and the increased and often existential pressure on civil society. Throughout FY 2023, TS continued to bolster its support for the TSGN at both program and partner levels via a dedicated network team, with TST providing key members of this team.

As part of continually improving the TSGN's operational model , after consolidating our technology platforms serving our partners in previous years, we have focused this last year on our technological support by improving how we manage partner platform feature requests and updates. The network team have also engaged with TS’s regional centres to better collaborate and share resources and learning within the TSGN.

Continuous improvement and changes also of course requires continually updating training. With this in mind the network team, led by a training lead based in TST, have rolled out multiple new training programs and improved key knowledge base resources within the TSGN. The primary training focus this year remained helping TSGN partners integrate functions, processes, and platforms that empower local NGOs to access the technology solutions they require for increased effectiveness and efficiency. As part of that a key training initiative this year involved sharing lessons collated globally to help all our partners better identify and stop malevolent actors attempting to access resources. We continually monitor and train our partners to identify such threats and have a continual program of new solutions to help the network counter these threats.

In FY 2024 we envisage our work with the network to continue apace with TST members remaining in key roles in our network team. The team's dual focus on delivering new exciting programs and simultaneously evolving how the network works will ensure that we always remain in step with the demands of delivering global programs, whilst remaining locally connected.

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THE TECHSOUP TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

In FY 2024, the network team will continue to support the network, but also plan to take a step back and review how they can best organize and deploy to support the network and all the key programs it supports.

To summarize, by working across all these six streams of work, we continue to drive to, and meet, TST's incorporated objectives through this ever-expanding, but closely integrated body of work. TST's objectives (stated as "Objects" in our articles) are restated below. The trustees have given them careful consideration in relation to the Charity Commission's guidance on public benefit.

The TechSoup Trust Objects:

By (amongst other things) encouraging the establishment of international, national, regional, or local civil society organisations to develop and maintain publicly available databases about the activities and finances of charities established in particular jurisdictions.

FINANCIAL REVIEW

Introduction

During the year, TST was, and continues to be, reliant upon the financial support of its parent TS. With such support, the charitable company is in a relatively strong financial position, with TS's financials continuing to remain strong (see details at https://yearinreview.techsoup.org/financials).

The TST has seen a reduction in the Validation Services revenue contracted directly to donors from £98,384 to £85,721. This was due to the ending of the Amazon Smile program unexpectedly in the third quarter of the fiancial year. TST still has 12 VS customers and it should be noted that overall, with US based TS revenue considered, Validation Services revenue did increase in total in FY 2023. In FY 2024, given the loss in the UK of the largest VS customer, we have set a target of £8,000 GBP for VS and will look to add further customers contracted via TST to re-grow revenue here for VS in the UK.

As expected, we continue to not experience any impact or changes to our operations or financial stability due to Brexit in FY 2023. The VAT treatment of our validation-service-based offerings and contracts did not change with Brexit (e.g., remain zero-rated for our European customers). If VAT rates were to change with any future changes due to Brexit, such changes would be immediately enforceable via our contracts' terms and conditions. We also have no major supplier contracts for operational services to TST with any European-based entities.

In addition to tracking our budget and monitoring our overall financial targets (see below), we continue to work closely with TS to monitor our progress against a variety of key performance indicators (KPls) covering both financial health 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 number of NGOs we connect resources to, their global coverage, and the number of Validation Services clients and associated revenue. Specific targets are jointly set each year and tracked along with overall budgets and financial targets in the management and governance meetings detailed below. For example in FY 2023, TS with the TSGN connected 302,000 NGOs in 216 countries and territories with more than US$2.4 billion in resources (see summary at https://yearinreview.techsoup.org/financials). TST's 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 donor/suppliers, ensuring the scalability of NGOsource or in helping the TSGN to deliver services to NGOs globally.

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THE TECHSOUP TRUST (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Factors likely to affect future financial performance or position

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 letter of support submitted along with our accounts. TS and TST budgets are set simultaneously to ensure that this support can be met. TS and TST management teams meet weekly to review finances and progress against budgets and discuss actions needed to meet goals. We continue to have income directly from organisations based in Europe for the validation services we have developed with TS. This continued to give TST a direct source of income and continued to reduce TST's dependence 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.

Principal funding sources and how they support key objectives

We now have three potential sources of income to support all the streams of work outlined in this report, with the balance of income between them evolving from year to year. The three sources are grants from TS to operate, grants from other partners and customers to deliver specific projects, and direct revenue from Validation Services customers in Europe. In FY 2023, we only used two of these sources, 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 to maintain at approximately two 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. At the financial year-end, unrestricted cash reserves totaled £348,811, and unrestricted reserves totaled £344,503 which management believe are sufficient to cover the reserves policy outlined above. TST will continue to watch this metric closely and ensure that TST 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 structures, engaging our board of trustees and our management team, down to the leaders of the individual teams and staff. Our “members” (TS and the CEO and board member of TS, Rebecca Masisak — see the organisational structure section that follows for more details) are in charge of making changes to our charitable constitution or board of trustees.

Fundamental to this structure is TST’s relationship with our parent organisation TS, a U.S.-based NGO (see more details at meet.techsoup.org). We work closely with TS leadership to ensure that our goals are aligned and then manage delivery of our objectives and mission in partnership. TST retains its own identity and responsibilities as a U.K.-based charity and ensures 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 bookkeeper, and U.K.- based auditor who are experts in U.K. regulations and compliance needs.

Page 9

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Relationships with other key parties with whom TST cooperates to deliver our mission-based objectives

Other organisations of note that TST works with are the partner organisations that make up the TSGN. This is a group of approximately 60 mission-aligned NGOs across the world that work together to deliver a suite of global services, educational assets, technology tools, and other resources to NGOs.

In addition, we continue to work with Fundacja TechSoup (based in Poland); on numerous projects — from running elements of our validation services, to training TSGN partners to run global programmes, to co-hosting workshops and conferences. Supporting the TSGN and TS Europe based initiatives.

We have also worked closely with the TSGN member GuideStar India (www.guidestarindia.org) to develop and maintain a directory platform that provides transparency of key NGO organisational details in that country and offers services needed by Indian NGOs.

Organisational structure and governance processes overview

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 details how these tiers effectively interact, oversee, and manage TST’s activities.

The TechSoup Trust members

TechSoup and Rebecca Masisak (who is TS's CEO and a board member of TS)

This most senior level of governance has ultimate control over TST, approving TST’s annual report, approving the auditor’s appointment and appropriate remuneration, appointing trustees, and approving any significant change to TST’s “Articles of Incorporation”.

The TechSoup Trust’s board of trustees

TST’s board consists of proven experts across finance, 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 to review and approve TST’s annual report and associated documentation and to reaffirm support from TS. New trustees are briefed on their legal obligations under charity and company law, the content of the memorandum and articles of association, the board, decision-making processes, the business plan, and the recent financial 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 at that time confirming TS’s ability and intention to continue to provide funds to TST.

The board is kept updated as to progress against objectives with monthly reports from our executive director (these reports are also shared with other stakeholders, including TS leadership). The board meets at least twice a year to review progress against objectives, ratify our financial position, provide advice 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 exceptional board meeting to review any financial, reputational, or major delivery risks to TST. Through these reporting and governance processes, significant risks can be raised by the TST management team, and mitigations can be confirmed with trustees.

In addition, these processes allow the trustees to raise concerns 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-to-day financial operations — tracking cash flow and reserves, operational financial payments, and legislative reporting requirements (quarterly VAT returns, annual audits, etc.).

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THE TECHSOUP TRUST (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

The TechSoup Trust leadership

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-to-day management issues within the organisation. .

External audit and oversight

TST has retained both a legal secretary (M&N Group Limited) and a U.K. auditor (Lubbock Fine LLP) to ensure compliance with U.K. company and charity laws and best practices. TST also has a U.K.-based bookkeeper (Trayler Lane), who ensures that all bills are entered and administered and who manages payroll, with the support and oversight of experienced TS specialist financial staff.

Remuneration management

As TST is a small organisation of approximately 13 staff, we look to our parent TS to assist us with People & Culture (P&C) 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 200 staff). Pay reviews have formed part of these processes, and any change in staff remuneration is based on a combination of performance 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 (representing TST’s members’ interests).

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:

In preparing this report, the trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the trustees and signed on its behalf.

John McDermott

Trustee Vice President of Finance, TechSoup Date: 22 March 2024

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THE TECHSOUP TRUST

(A Company Limited by Guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2023

The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' 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. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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THE TECHSOUP TRUST (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TECHSOUP TRUST

FOR THE YEAR ENDED 30 JUNE 2023

Opinion

We have audited the financial statements of The TechSoup Trust (the 'charity') for the year ended 30 June 2023 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 Practice).

In our opinion the financial statements:

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.

Material uncertainty related to going concern

We draw attention to note 2.2 in the financial statements, which indicates that whilst the financial statements have been prepared on a going concern basis, the validity of this depends on the ability of the parent undertaking to generate sufficient profits and cashflows to continue to provide support to the charitable company.

As stated in note 2.2, the group has generated losses for the year ended 30 June 2023 and has since implemented a restructuring plan to reduce the losses going forward. In addition, the future forecasts of the group show a reliance on external funding, some of which is currently unconfirmed. The consequential impact of these circumstances on the parent undertaking's ability to support The TechSoup Trust is yet unknown and therefore indicates that a material uncertainty exists, which may cast significant doubt on The TechSoup Trust's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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

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 (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The trustees 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.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our 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 Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' Responsibilities Statement, the trustees (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 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 to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 14

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TECHSOUP TRUST (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Auditors' 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 Auditors' 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 is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

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 statements. 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 but compliance with which may be fundamental to the charity's ability to operate or to avoid a material penalty. These include health and safety regulations, environmental regulations and employee regulations etc.

As a result of these procedures, we considered the particular areas that were susceptible to misstatement due to irregularity, including fraud were in respect of revenue recognition and management override. Our procedures to respond to risks identified included the following:

Page 15

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE TECHSOUP TRUST (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

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 for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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 its 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 Accountants & Statutory Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB

Date: 25 March 2024

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 2023

Note
Income from:
Charitable activities
3
Other income
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
85,721
1,330,776
1,416,497
126,204
1,274,491
1,400,695
15,802
328,701
15,802
344,503		 Total
funds
2023
£
85,721
1,330,776
1,416,497
126,204
1,274,491
1,400,695
15,802
328,701
15,802
344,503		 Total
funds
2022
£
98,384
1,442,514
1,540,898
137,497
1,372,137
1,509,634
31,264
297,437
31,264
328,701

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 31 form part of these financial statements.

All income and expenditure in 2022 related to unrestricted funds.

Page 17

THE TECHSOUP TRUST

(A Company Limited by Guarantee) REGISTERED NUMBER: 05594889

BALANCE SHEET

AS AT 30 JUNE 2023

Note
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Unrestricted funds
15
Total funds		 43,281
348,811
392,092
(47,589)		 2023
£
344,503
344,503
344,503
344,503
344,503		 49,646
389,679
439,325
(110,624)		 2022
£
328,701
328,701
328,701
328,701
328,701

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 authorised for issue by the Trustees and signed on their behalf by:

John McDermott

Trustee

Vice President of Finance, TechSoup

Date: 22 March 2024

The notes on pages 20 to 31 form part of these financial statements.

Page 18

THE TECHSOUP TRUST (A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2023

Note
Cash flows from operating activities
Net cash used in operating activities
17
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
18
The notes on pages 20 to 31 form part of these financial statements		 2023
£
(40,868)
(40,868)
389,679
348,811		 2022
£
58,002
58,002
331,677
389,679

Page 19

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1. General Information

The TechSoup Trust is a charitable company limited by guarantee and a registered charity in England and Wales. Its company registration number is 05594889 and its charity registration number is 1114615. Its registered office is 1 Princeton Mews, 167-169 London Road, Kingston Upon Thames, Surrey, KT2 6PT. Its principal place of business is 64 Clarence Avenue, Gants Hill, IG2 6JE. The financial statements are presented in sterling, which is the functional currency of the charity.

2. Accounting Policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) — 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The charitable company meets its day-to-day working capital requirements through the support of its parent undertaking. The draft consolidated financial statements of the group for the year ended 30 June 2023 and subsequent management accounts indicate that the parent company may not be in a position to support the company due to losses incurred.

However, the trustees believe that the underlying drivers of group's results are temporary and have since implemented a restructuring plan to reduce the losses going forward and are forecasting that the group will return to profitability for the year ended 30 June 2025. It should be noted, however, that these future forecasts of the group show a reliance on external funding, some of which is currently unconfirmed. The consequential impact of these circumstances on the parent undertaking's ability to support The TechSoup Trust is yet unknown and therefore indicates that a material uncertainty exists, which may cast significant doubt on The TechSoup Trust's ability to continue as a going concern.

The trustees believe that it is appropriate to prepare the financial statements on a going concern basis which assumes that the charitable company will continue in operational existence for the foreseeable future with the support of the parent undertakings.

Should the charitable company be unable to continue in operational existence for the foreseeable future, adjustments may be necessary to reduce the carrying value of assets to their recoverable amount, to provide for any additional liabilities that may arise, and to reclassify fixed assets as current assets.

2.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance 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, it is probable that the income

Page 20

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

2. Accounting Policies (continued)

2.4 Income (continued)

will be received and the amount of income receivable can be measured reliably.

Voluntary income received by way of grants and donations is included in full in the Statement of Financial Activities when receivable.

Revenue grants are credited to the Statement of Financial Activities when receivable.

When unconditional entitlement to grants receivable is dependent upon fulfillment 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 services are recognised in line with the relevant contract, when it is probable that the economic benefits will flow to the charity and the income can be measured reliably. Income from a contract to provide services is recognised in the period in which the services are provided in accordance with the contract.

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 to 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 resources relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Costs of charitable 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 staff costs attributable to the activity and an allocation of the general management and overhead costs.

Allocation of direct costs

Direct costs are allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity:

Costs of raising funds 10% The TechSoup Trust programme 90%

Allocation of support costs

Support costs are allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity:

Costs of raising funds
 0%
The TechSoup Trust programme 100%

Page 21

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

2. Accounting Policies (continued)

2.6 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial 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 settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

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 at rates of exchange ruling at 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 Activities incorporating Income and Expenditure Account.

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date 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 settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must 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 at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured 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 to the fund in respect of the year.

Page 22

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

3. Income from charitable activities

Provision of validation services

Provision of validation services
4.
Other incoming resources

Contributions from TechSoup Global

Contributions from TechSoup Global		 Unrestricted
funds
2023
£
85,721
Unrestricted
funds
2022
£
98,384
Unrestricted
funds
2023
£
1,330,776
Unrestricted
funds
2022
£
1,442,514		 Total
funds
2023
£
85,721
Total
funds
2022
£
98,384
Total
funds
2023
£
1,330,776
Total
funds
2022
£
1,442,514

Page 23

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

5. Costs of raising funds Costs of raising voluntary income

Unrestricted
funds
2023
£
Costs of raising voluntary and other incoming resources
126,204
Costs of raising voluntary income (continued)
Unrestricted
funds
2022
£
Costs of raising voluntary and other incoming resources
137,497		 Total
funds
2023
£
126,204
Total
funds
2022
£
137,497

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2023
£
The TechSoup Trust programme
1,274,491
Unrestricted
funds
2022
£
The TechSoup Trust programme
1,372,137		 Total
2023
£
1,274,491
Total
2022
£
1,372,137

Page 24

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

7. Analysis of expenditure by activities

The TechSoup Trust programme
The TechSoup Trust Programme
Analysis of support costs
Staff costs
Hotel, travel, entertainment, and subsistence
Legal and professional
Other support costs
Total 2023		 Activities
undertaken
directly
2023
£
1,145,612
Activities
undertaken
directly
2022
£
1,237,469		 Support
costs
2023
£
128,879
Support
costs
2022
£
134,668
Activities
2023
£
104,974
2,440
19,135
2,330
128,879		 Total
funds
2023
£
1,274,491
Total
funds
2022
£
1,372,137
Total
funds
2023
£
104,974
2,440
19,135
2,330
128,879

Page 25

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

7. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
Hotel, travel, entertainment and subsistence
Legal and professional
Other support costs
Total 2022
8.
Net incoming/(outgoing) resources
This is stated after charging:
Auditor's remuneration - audit costs (governance)
Auditor's remuneration - other		 Activities
2022
£
115,948
329
15,105
3,286
134,668
2023
£
19,500
1,300
20,800		 Total
funds
2022
£
115,948
329
15,105
3,286
134,668
2022
£
5,750
4,100
9,850

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
1,129,234
140,595
42,353
1,312,182		 2022
£
1,248,121
155,397
45,827
1,449,345

Included within wages and salaries are other employee benefit costs of £84,905 (2022 — £82,670). The average number of persons employed by the charity during the year was as follows:

2023 2022
No. No.
Average number of employees 14 16

Page 26

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

9. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2023 2022
No. No.
In the band £60,001 - £70,000 1 2
In the band £70,001 - £80,000 1 2
In the band £80,001 - £90,000 1 1
In the band £100,001 - £110,000 2 1
In the band £100,001 - £120,000 - 1
In the band £120,001 - £130,000 1 1
In the band £140,001 - £150,000 1 1

During the year key management personnel remuneration including employers national insurance and employers pension totaled £274,987 (2022 - £271,377).

10. Taxation

The charitable company is a registered charity with the Charity Commission for England and Wales. It is not liable to corporation tax on any surplus arising from its charitable activities.

11. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
6,911
1,547
34,823
43,281		 2022
£
20,292
773
28,581
49,646

Page 27

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

12. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2023
£
10,250
8,128
461
28,750
47,589		 2022
£
10,556
57,533
628
41,907
110,624

13. Pensions

The charity operates a defined contribution pension scheme. Total costs to the charity in respect of the scheme for the year ended 30 June 2023 were £42,353 (2022 — £45,827) At the balance sheet date amounts totaling £8,128 (2022 — £6,918) were outstanding in respect of this scheme.

14. Operating lease commitments

At 30 June 2023 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2023 2022
£ £
Amounts payable:
Within 1 year 6,600 6,600

Lease payments recognised as an expense in the year totaled £13,200 (2022 — £13,200).

Page 28

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

15.
Statement of funds
Statement of funds — current year
Unrestricted funds
General funds
Statement of funds — prior year
Unrestricted funds
General funds		 Balance at 1
July 2022
£
328,701
Balance at
1 July 2021
£
297,436		 Income
£
1,416,497
Income
£
1,540,898		 Expenditure
£
(1,400,695)
Expenditure
£
(1,509,633)		 Balance at
30 June
2023
£
344,503
Balance at
30 June
2022
£
328,701
16. Analysis of net assets between funds
Analysis of net assets between funds — current period
Unrestricted
funds
2023
£
Current assets
392,092
Creditors due within one year
(47,589)
Total
344,503		 Total
funds
2023
£
392,092
(47,589)
344,503

Page 29

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds — prior period
Unrestricted
funds
2022
£
Current assets
439,325
Creditors due within one year
(110,624)
Total
328,701		 Total
funds
2022
£
439,325
(110,624)
328,701

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Decrease in debtors
Increase in creditors
Net cash provided by/(used in) operating activities
18.
Analysis of cash and cash equivalents
Cash in hand
19.
Analysis of changes in net debt
At 1 July
2022
£
Cash at bank and in hand
389,679		 2023
£
15,802
6,365
(63,035)
(40,868)
2023
£
348,811
Cash flows
£
(40,868)		 2022
£
31,264
(2,774)
29,512
58,002
2022
£
389,679
At 30 June
2023
£
348,811

Page 30

THE TECHSOUP TRUST

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

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 States 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 its 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 statements 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 to £1. The TechSoup Trust is registered with the Charity Commission for England and Wales.

Page 31