R•gisternd number: 09389265 Charity number: 1165742 SUSTAINABLE FIBRE ALLIANCE UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 11111 11111 *ADE7PBEO- 2111(W2￿4 COMPAMES HOUSE WR Partners Protecting your future. SUSTAINABLE FIBRE ALLIANCE (A c¢rnpany limft8d by guarantee) CONTENTS Page Reference and admlnlstratfve detalls of the Charlty. its Tntstees and adv15e Trustees. report Trustee5' rn5ponsibilities stst•mènt Indep•ndont •xamin•rfs report 10-11 Statemenl of flnanclal activities 12 Balance sheet 13-14 st•tsment of cash flows 15 Not03 to the flnan¢lal stsl•meDIs 16-30 SUSTAINABLE FIBRE ALLIANCE {A ¢¢)mpany Ilmrted by guarnntee) REFERENCE AND ADMINISTIiATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2024 Trustees Una Jones, Chief EXec￿tiVe Andreas Wilkes IresNJned 30 November 2023) Paul Lrtuefair Tona Dai Ko￿n Perry Ayongxi Ay¢)ngxi (apwnted 1 February 2024) Chimaeze Onyerwu (appointed 21 November 2023) Willk8m Whrteford (appointed 31 January 20241 Company registernd number 09389265 Charity registered number 1165742 Reglstered office 41 Bw Awe Mold Flinlshire CH7 1LT Chief executlve t)fficer Una th)nes Accountants WR Partners Chartered Accountants Belmont House Shrewsbury BusI￿sS Park Shrev*sbury Shropshire SY2 6LG Page 1 SUSTAINABLE FIBRE ALLIANCE {A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The Truslees present their annual report logether ￿ the finantsal statements of the Charity for the period from 1 February 2023 10 31 January 2024. The Annual report serve$ the purwses of both a Trustee$. report and directors, report under CLJmpany law. The Trustees confirm that the Annual report and financial statements of the charitable company Gomply wlh the C￿￿ent statutory requiremenls. Ihe iequirements of the charitable companls governing d¢Jcument an¢J the provisions of the Statement of Recommended Practice {SORPI applicable to chafilies prepanng their accounts in aCCordar￿e the Finantsal Reporting Standard a￿lcable in the UK and Republic of Ireland IFRS102} leffectNe 1 January 20191. Since the Charity qualifies as small under Sect￿ 382 of ￿ Ccrfnpanies Act 2006. the Strategic report required of medium and large companies under the Companies Act 20&S Islrate9ic Report and Direciors, Report Regulations 2013 has been omitted. Oblectlvfrs and actlvltws . Policies and objectlves The SuStaina￿e Fibre Aliance is a global multi-stakehd¢Jer initkqlive a mission to ensure the long-lemi viabilty of the cashmere sector. We promote the SFA Cashmere Standard to encourage the adoplign of responsible production practices Ihal minimise envir(￿mental impact, safeguard herder livelihoods and meet h￿h animal welfare standards. The objectives of the charty a￿". To promote sustainable development for the benefft of the public ty. the preservation. conseNatton and the protecb.on of the environment and the prvdenl use of resources the relief of povety and the improvement of the conditions of lrfe N) swalty and economically disadvarrtaged commLYMt the promotion of suthnatAe means of othieving ecoTh)mi¢ growlh and regeneration to •Yvance the edlKati(￿ of the public in subj'ects relatiThJ to sustainable development and the protection, enhancement and reha￿"[118110n of the environment and lo promote $ludy an¢J research in such subjects provjded Ihal the usefvl results of suth study are disseminate(J lo the publi¢ al large. The wsion ol the SFA is that all cashmere is pr0dl￿ed in an envvonmentally frIer￿lY that safeguards th8 livelihoods of herding Communities and protects the important, fragile environment in which they live. In setting objectives and ￿annIng for adivibes, the Trustees have given due eon5ideralKin to general guidance published by the Chanty Commission relating lo public benefft. induding the guidance 'Publi¢ benefrt". running charity IPB21'. b. Strategles for achlevlng obJe¢tlv¢s The Key Strategic aims that that shape our we" Environmental resilEnce in ￿$hMere w0ducY￿ regions. Improving animal welfare cashmere production. Improved lowterm prospecas for herding eommunrties an¢1 famers that rely on cashmere. Page 2 SUSTAINABLE FIBRE ALLIANCE IA company Ilrnltod by gwaranteo) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Oblectlv•s and a¢tlvltles Icontlnuedl c. Actlvltles undèrtaken to achieve objectives The SFA wcrfks wth the end lo end cashmere suppty thain. connecttrvJ herders to brands and retailers in the global fashion industry_ We offer a glObalty-f￿Sed. locally-adapted solLth'on for sustainable cashmere. We promote Ihe SFA Cashmere Standard lo encourage Ihe adoption of responsible practices that benefit people, lives1￿k and the environment. Our stsndard allows companies to demonstrale their commitment to transforming the cashmere sector and make ue(*ble daims about the 9Jstairki￿lity of their cashmere products. d. MaSn activllles undertak•n to fvrther the Charity's purposes lor th• publk benefit The Trustees have refeffed to the guidarte contsined in the Chty Commiss1￿,$ general guidance on public benefit when revie￿rtg the cJiWs aims and obie(*ves and in ￿ann1r￿j frJture actiwties. Achlevements and pgrforniance a. Maln achlevemtnts of the Charlty In the ￿1ve months to 31.01.24. the Sustainable Fibre Allrdnce ISFAI exparKled ils actNities whilst continuing lo strengthen the standar(l-settirvJ. ￿MMUnication and opwational ￿nct￿In5 of the charity. The SFA'S activ"f(ies and ope of influence have contsnued to expand through interaction wth local and intemats"on81 partners. Our work with partners has ranged from local communty organisalions. NGOS. small and meilium-sized enterprises, larger businesses and government agencies to develop locally (Y•wed sustainable rangeland management and conservatiC￿ programmes. Over Ihe lost year, we have worked wrth our memters and partners lo advance in addressing critical suStaina￿lIty issues. from gender and deeenl work lo innov*ive t•rays lo deepen our impact on the environment and promote land degradation neutrality. Our work conbnues to prcKnote human well-being. respect indigenous ommunities. cultural val￿. aThY support govemance systems Ihat ensure long-temi eflectiveness. Membership has inereased by apwoximately 20% and registrations for SFA'$ Chain of Custody program have increased by 30%. In the twelve months lo 31.01.2024, 30% of income has ￿me from non-members to fund projects. b. Revlew of actlvltles The SFA has conliTh*d to increase the fo¢yJs on herder training a￿• ervjagement. supporting market connections for responsibly produwl cashmere. In these months, the SFA'S certification and work programs have continued lo increase in participants, rep￿SentIng a global coll8boratson across 13 countries. This has led to the demand for SFA-certified fibre inueasing. bringirKJ benefits to the herders who produce the fibre in line wilh the SFA standar(Is. This would not have been wssbte wihcxrt the core support of our members. the Committed y￿rk of our tèam in the UK and M¢)ngolk9, and the conb.nued dedication of our Slrategie partner in China IICCAW), has ensured the SFA is in an increasing posib'¢)n of strength to athieve the objeth'ves oullined above.. Page 3 SUSTAINABLE FIBRE ALLIANCE {A cornpany limited by guarantee) TRUSTEES. REPORT Icop¥llNUEDI FOR THE YEAR ENDED 31 JANUARY 2024 Achlevèments and performance {contlnu•dl The SFA Global Standanls & CertifKation Progranwne Slrn"nglhened & D￿elop9￿ The SFA Coshmere Standwd was first introdLKed in January 2023 fo1￿￿ng an extensive revision and multi- Stakeholder conyjllats.on throughcArt 2022. The SFA Cashmere Standard defines best practices for responsible ca5hmeie produ¢t)Dn. The starKJèTd cover5 the most pressing sustsinability issues associated w.th fibre produciion and outlines the intended OLrtcomes achieved through the standar¢J's adoption. The slandard's revision and consultations followed a rigorous multi-stakehol¢Jer. science-based review process that put people al ils heart, ath.vely eThgaging with herders, and m3intsining the SFA'S commitment lo the International Social and Envtronmentsl Accred1latv￿ ar¥J Labelling Allia￿e'S {ISEAL) Standard Setting Code and adherence to transparency. As part of our C￿linUal improvement prcoss, 2023 has seen many ex¢ikn"rwJ announcements. fmm the adopti¢x) of a fvlly segregated Chain of Custody model, 4thich ensures 100% of the cashmere used in the final produd is SFA-certified, to publishing the Chain of Custc*Jy Gthal Guidelines v3.0 and sthequent upOate3 of v3.1. Public consultation has also opene¢J this ￿81 for our draft Chain of Custody Stsndard. The SFA hosted a consuwion meeting of the RangelaTrJ Stvwardship Council IRSCI in Septembèr 2023, whlch was attended by herders. brands, retailers arKI industry partners in the natural fibre and leather industries. Following these herder4evel consultsbons. the SFA has begun devekfjment inlo other diversified fibre5 Start￿9 th the SFA Camel Starbjard. Duriro the latter half of the year, Ihe SFA SUPFrtwted the wryk p￿09raMMeS for income diversification to help improve the livdihood5 of herders arKI herdirrfJ Commur￿tieS Ihrough the wider inclusic￿ of rangeland-based commodities. Page 4 SUSTAINABLE HBRE ALLIANCE (A company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 JANUARY 2024 Achlevements and perfonnance (contlnuedl SFA Projects & Work Programmes Beyorny setting and implefflentin9 Standards, and fostering Contin￿U$ impmvement. the SFA remains dediealed lo empowering women, youth, and communities in the ￿lOn$ we serye. Our initiats.ves include a variety of impactful projects that demonsliate our ongoing eommitmenl lo cxeating positive change and supporting sustainable development. These projects a￿ as fo1lfy￿". Expanding our geographical outreach. the SFA laurd)ed a project lo T￿PF￿rt the raising of the standard of cashmere produdion in Afghani$tsn. We started this work and development wilh 5.000 Afghan farmeTr, ¥Mth a lo￿S on supporting female famiers. A5 part of Ihis 134nonth USAID-funded project, we aim lo develop a slroThJ foundatson to SUPFQrt Afghan herders Ihrough the OrtrHealth approach and local i)wnership. The SFA developed Country Guidetines for Afghanistan cenlring around this One-Health focus of humans-animals-environmenl and training program to increase the quality of cashmere production in the country. A woject of this scale will lake some ts'me, therefore. no cashmere from Afghanistan has been SFA-certified during this ￿eri￿. The SFA'S Yourg Herders EthKation Programme. supported by Johnstons of El&Mn. benefited a total of 1,251 children from 21 schools in Mongolia. Providirg access to finan￿ for herder eommunities is a SFeciffic loan pr￿lUCI developed by Khan Bank to sJJpport SlJ5tainable livestock produth.on based on herder's ffinanual needs. Over the last two years, 22 herder cooperatives have received loans lolalling 4.3 billion MNT. The SFA'S Fibre Qu81ty Prc*3ramme is an annual recognth.on given by intemational SFA member brands and retailers to the cooperatives showcasing the best use of the SFA'S Codes of Practice to enhance animal breeding qualty and increase raw fibre ¢walty. SFA R•search & Monitoring. Evaluation & Learning (MELI Projects Our researeh an¢J MEL initi"ab"ves, aimed at understanding the enviionmentsl, ecor￿le. and sttial impacts of cashmere productKJn. focus on the goal of developing more sustainable practices that benefrt both the environment an¢J the c(ynmunrt*s involved in the tndu5ty. To ath*ve this, the SFA has inits.ated a number of projects and partnerships in 2023. such as.. A landscape-based approach In￿atiVe lo Measu￿ the environmenlal impacl of cashmere Certif￿allOn in the Bayan-ovoo province of Mongolia, funded by ISEAL. A Ihree-year partnership with the Mongolian Aca(lemy of Soence IMAS) lo bridge Ihe research-praclice gap and link scientists the industy. local practitioners, and dea"sion-makers to promote evidence- based conservation practKes. A Lrfe Cycle Assessment ILCAI re¥earch proiecl in Mongdia that meayjres the environmentsl impacl of a$hmere in collaboration *ith AG Integrity aTrJ Textile Ex¢han9e. Page 5 SUSTAINABLE F18RE ALUANCE {A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Achlevements and performance (contlnued) WorkSng Collaborallvely Togeth•r In fosteriNJ unrty across the Cashme￿ and wder natural fibre suppty chain. the SFA arranged impathjl conferen￿$ ttsoughout the year. In February. SFA co-organised the Cashmere sector event in Biella. Itaty in partnership with Natural Fibre Connect (NFCI colleagues. In early September. we convened the SFA MI￿901￿8 conference in Ulaanbaatar. bringing together over 150 in-person attendees from across the country. This unique event was organised by the herders themselves. suppthl by the SFA and the min￿ ofAgricultfft and Light Industry of Mongolia IMOFALI). Towards thè end of September, the second edition of the Natural Fibre Connect {NFCI eonference brought together a global fibre communty of cashmere. mohair. wcrf)I, and alpaca in 8iella, ltsly, ￿t￿ over 350 in-person partiopants arbj 1,LKTh) virtual atten(lees. Looklng For￿rd In 2024. we will Cont¥￿ our mission to thive positive change in natural fibre value thairts by empower* herding communrties, promoting responsible sourciry and the adoption of suslainable practices. By dolng so, we continue working towards our y1￿¢)n ol a responSi￿e and indusive global natural fibres Sector that safeguards the healih and well-beir¥J of the people. ￿lmalS and the environment. The SFA wll work towards ¢Jeepening impact in three rnan areas. the protection of natural resources, the positive welfare state of livestock. and r￿lient herding communf(ies in collaboration wrth the market and stskeholders. The SFA will achieve thks through strengthening rts slandard systems and Monitoring. Evaluation & Learning framewofk as well as working towards IS&4L Code Cofflpliance. We will continue to support herding mmunities to be resilient against natural disasters through Dzud and dimate risk ￿$111ence research as well as through establishiNJ a Communty Develcpmenl Fund. The SFA will eollaborate wth international development Lyganisations. such as the United Nations Convention to Combat De5ertifie3tion IUNCCOI and the Intem8tional LNe$lo¢k Research Institute IILRII. in developing the nexi geneTalion of standards to achieve shared missions of encouraging sustainable land rnanagement and minimising environmental impacts. Through these collaborations, we hope to ub.lise our resFecb've strengths lo bring effective development and thange lo the world's r￿Je13ndS. Page 6 SUSTAINABLE FIBRE ALLIANCE (A Company limited by guardnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JANUARY 2024 Flnaneial review •. Golng ¢oncem After making approprklte enquiries, the Trustees t￿e a reasonable expectation that the Chanty has adequate resources lo continue in operat￿n81 existence for the foreseeab￿ future. For this reason, they continue to adopt the going concern ba515 in preparing the financial statements. Futher detai15 regarding the adoption of the 90ing concem basis can be found in the aecounting pdKies. b. Rgser4es pollcy The Trustees have adopted a pcAicy of hawrKJ mtnimum lotsl reserves of £50,OC4), in order lo guarantee conlinuily of chafilable activrties. The Trustees wll fijrther ￿¥*W this p￿IeY as the activilies of the Charity continue lo grow. The Chari￿$ reseryes al 31st January 2024 amounted to £105.43512023.' £95,649). Free reserves * 31 January 2024 were £94.132 12023.'£77.765). Structure. governance and managernent . Constltution The company is regisleretal funds 105.435 95.649 The Charity was entiued lo exempkn.L￿ from ajdrt under section 477 of the Companies Act 20C6. The members have not required the company to obtain an au(kt for the year in questitin in accordan￿ wlth section 476 of compan￿ Ad 2006. The Tw$lees acknowledge their responsibilities complwr¥J wilh requiretrents ol the Ad wth respert to accountirvj records and preparalK)n of finanaal statements. The finanaal statements have been prepared m aCC￿￿nce vAlh Ihe provi$p)ns applicable to entities subjoct to Ihe small compan￿$ regime. The financial statements were approved 8ThY authorwj for by the Trustees ar#J $i￿d on their behalf by.. Una Jone$ Chief ExecutNe 0*9.. 1611012024 The notes on pages 16 to 30 fomi part of these financial sLitements. Page 14 SUSTAINABLE FIBRE ALLIANCE IA c¢)mp*ny Ilnthed by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2024 2024 2023 Cash flows from operatlng acllvltles Net cash used in operating activilies 190.666 17.913 Cash Ilows frorn investing actsvities Purchase of tangible fixed assets (3,483) Net Cash used in Investlng a¢tlvltles 110.5411 13.483} Ca$h Ilows from flnanclng actlvllles Net cash provlded by financlng actfvities Change in cash and cash equtvalents In the year Cash and cash equivalents al the beginnin9 of Ihe year 180.024 14.430 111.$28 97.098 Cash and cash equlvalents at the end of the year 291.552 Itl.528 The notes on pages 16 10 30 f￿M part of these financial Statements Page 15 SUSTAINA8LE FIBRE ALLIANCE ¢¢mpany Ilmited by guarantèè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 .General Inforniation Sust8in8ble Fibre Alliance is a dHritable tompany, Iwni¢ed ty gUar￿tee and incorporaled in England and Wales. The members of the charity a￿ the trustees named on page 1 of these accounts. In the event of Ihe charrt*Je company teing wound up. the liakn"ITty in respect of the guarantee is limited to £1 per member of the charrtable cLYnpany. Acc¢)untlng policies 2.1 Basi5 of preparation of financial stslem•nts The finawal statements have tjeen prepared in accordance wth the chariti.es SORP IFRS 102} - Accounting and Reporting by Charil*s'. Ststement of Recommended Practice applicable lo charities eparing their accounts in accordance wlh tre Financial Repoiting Standard applicable in the UK and RepU￿1C of I￿land {FRS 1021 {effe¢tive 1 January 2019), the Financial Reporb'ng Standard applicaNe in the UK aThJ RepU￿1C of Ireland IFRS 102) and the Companies Act 2c￿. SuStaina￿e Fibre Alliance meets the definitKJn of a pull￿ benefit enlity under FRS 102. Assets and Ilabilit￿$ are inib.ally recognised at historical cost or transac*on value unless olhenmise stated in the relevanl acc￿ Foly. 2.2 Golng con¢om After making enquires, the Trustees have a reasonable expectation that the Chanty has adequate resources lo continue in operats'onal exIster￿e for the foreseeable future. The Charity therefore continues to adopt the going concem basis in preparin9 its finaneial stslements_ 2.3 Income l income 1$ recognised once the Chanty has entsuement lo the income, rt is probable that the income *ill be received and am¢)unt of income receivable can be measured reliauy. Other income is recognised in the period in whieh il is receivable ano lo the extent the goods have been provided or M completion of the $wv￿. Subscription income is recognised memters undertake to join or ￿neW but is Irealed as deferred lo the extent that it relates to the ur￿XpireCj membership temi". Pa98 16 SUSTAINABLE FIBRE ALLIANCE IA company limrted by guarant¢el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Ac¢ountlng polkles Icontlnuedl 2.4 Expenditur• Expenditure is recognised onee thLYe 1$ a ￿al or constfuctive obligatKJn to transfer eeoftomic benefft to a third paty, it is prOba￿e that a transfer of e￿oMiC benefits will be required in settlement an the amount of the obligation ean be measured reliably. Expenditure is classified by activity. The cost$ of each actiwty are made up of the total of direca costs and shared costs. including support Costs vdved in urKlertaking each acb"vty. Direct costs attributable to a single aetivity are alkjealed directly to that activity. Shared costs whth contn'bute to mcffe than one ath.vity and suFport eosls which are not attTibuiable lo a single activty are apportioned between those adivilies on a basis consistent with the use of resources. Central stsff costs are allocated on the ba&s of ts.me spent, and depreciation charges allocated on the Frfxb'on of the asset's use. Expenditure m t*￿rIlable activibes is ￿tted on th"reclty undertaknng the activities which fvrther the Charitys ¢)bje¢tive$, as well as any associated support ¢osts. l expenditure is indusive of irrecoverable VAT. 2.5 Fornign currencies Monetary assets and liabilrties denominaied in foreNJn eurrenues are trartslated into steding al rates of exehange rulirwJ at the rep)rts"ng dale. Transactions in lo￿l9n currenoes are tran￿ated into slerling at the rale ru11￿j on the date of the transacb'on. Exchange gains and losses are recowised in the Slatement of Finan¢k41 Activitigs. 2.6 Tanglble flxed assets and depreciation Tangible fixed assets are inrtkilly recwised at cost. After recognitK>n, under the cost model, tangible fixed assets are measured at cost less accumulated depreaation and any aceumulaled impairment bsses. AJI costs Incurred to bring a tangibk fixed asset into rt5 Intended working cL)ndilion should be included in the measurement of c05t. Depreciation is ¢tharged so a5 to allocate Ihe cost of Lingible fixed assets less their residual value over their estimated useful lives. using the straight-line method. Dep￿latIOn is provided on the following basis.. Office equ￿ment 33% Stsa￿ht-lirte 2.7 Stocks Stocks are valued at the lower of rnst ￿ net realifpable value after makiThJ due allowance for obsolete and slow.moviThJ stocks. 2.8 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. PiepayThents are valued at the amount prepaid nel of any trade discounts due. Page 17 SUSTAINA8LE FIBRE ALLIANCE IA company limited by guarantee} NOTÉS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accounting policies {¢ontinued 2.9 Cash at bank •nd In hand Cash at bank and in hand irKludes cash and short-lerm highty liquid investments with a short rnalurity of three months or less from the date of acqu151t￿n or opening of the deposit or similar acLounl. 2.10 Li•bllltles and provislons Liabiliti"es are recognised when there is an obligth.on at the 8alarKe sheet dale as a resutt of a past event, il is wobable that a transfer of economic benefit ￿11 be required in settlement. and the amount of the settlement can be esb'mated reliably. Liabilities are reeognised al the amount that the Charity anti¢ipales rt will pay lo settle the debt or the nount it has received as advance(J pa￿￿ents for the goods or services it must provide. Provisions are measured at the best esb.mate of the amounts required to settle the obligation. Whe the effect of the time value of money is rnaterial. the proVis￿n is based on the ptesent value of those amounts. discounted al the pre-tax diswint Tate that reflects the Tisks specific lo the liability. The unwinding of the discount is recognised in the Statement of finarKaal 8cts"vrties as a finance cost. 2.11 Financial instruments The Charity only has financial assets and financial l￿bIlItIeS of 8 kind that qualify as bas￿ finanaal instruments. Basic financial instruments are initially recognise(l al transaction value and subsequently measured al their setvement value with the exception of bank loans ￿1¢￿ are subsequently measured al amortised cosl ￿ng Ihe effe¢tNe intefesl method. 2.12 Pen$lons The Charity operates a defined contribution pen￿on scheme and the pension charge represents the amounts payable bythe Charty lo the lund in respect of the year. 2.13 Fund a¢countlng General funds are unrestricted funds whith are avaiLable for use al the discretK•n of the Trustee5 in lurtherance ol the general objecbves of the Charity and ￿lch have not been de&gnated for other purposes. Restricted funds are funds whKh a￿ to be used in accordance specafic restrith'on$ imposed by donors or which have been raised by the Charity for pa￿"Cular purposes. The costs of raising and administering such funds are charged against the specffi¢ funo. The aim and use of each festricted fund is $81 out in the notes lo the financial statements. Page 18 SUSTAINABLE FIBRE ALLIANCE (A cornpany Ilmlted by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Income from donatlons and legacles Restrkted Vnres¢ri¢ted fvnds funds 2024 2024 Total fvnds 2024 Total lunds 2023 Donations & Subscriptions 103,708 885,063 988.771 775,088"." Anatysis of expendlture on charitable activltles Summary by fund type Reslrkted Unrestrlcted funds fund$ 2024 2024 Total 2024 Total-_ 2023 Charitable Actsvitses 119.013 859,972 978.985 767,805 Total 2024 119.013 859.972 978.985 767,805 Total 2022 210,782 557,023 767,805 Page 19 SUSTAINABLE FIBRE ALLIANCE (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Analysls ol expendrture by activltSes tivities undertaken directty 2024 Support costs 2024 Total lunds 2024 Tot81 funds 2023 Charitable Actiwtes 690.726 288,259 978.985 767,805 Total 2024 690.726 288,259 978,985 767,805 Total 2023 488.3CLI 279.505 767.805 Analysls of dlr•ct costs Total funds 2024 rot81 funds 2023 tivltl•s 2024 Staff ¢osts CharIta￿e project costs COnfe￿nce costs TrainiThJ and accreditalicffl ￿51S Research co$t$ Mong¢Sia staff costs MoThtoring & evaluatic 216,252 186,753 52,162 140.126 20,812 65.794 8.827 216.252 186,753 52.162 140,126 20.812 66.794 8.827 176,160 34.862 17,457 230,334 2,898 26,589 Totsl 2024 690.726 690.726 488.300 Tot812023 488,300 488,300 Page 20 SUSTAINABLE FIBRE ALUANCE (A company Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Anatysls of expgndilurn by actlvltles Icontlnu•d) Anatysis of support costs Total funds 2024 Tot81 funds 2023 Actlvltles 2024 Staff costs Depreuation Travel costs Office expendilure Finance costs 143,420 5.514 23.370 45.180 7.172 18,1 858 143,420 5.514 23.370 4S.180 7,172 18.196 858 102,951 3,036 32.849 19,554 8.105 35,446 422 Communications Rent and ro¢yn hire Insurance Other expenditure Other staff costs Mongolian lai*)ur charges 1.140 20,843 5.211 17.355 3.414 12.542 4, 154 57,032 20,843 5,211 17.355 Totsl 2024 288,259 288,259 279.505 Independent examlnerfs remunerntion 2024 2023 Fees paYa￿e lo the Chartys independent examiner for the independent examination ofthe Charitys amual aGCO￿jts 3,676 3,570 Page 21 SUSTAINABLE FIBRE ALLIANCE IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 St•ff costs 2024 2023 Wages salaries Social sewty costs contribub.on to defined contr1t￿lon pension sthemes 29S,372 26.724 37,576 250,958 t8.038 10,115 359.672 279,111 The average number of persons em￿oyed by the Charity during the year was as follows.. 2024 2023 No. Empfoyee5 No employee rtt￿yed remuneration amountiThJ to more Ihan £60.0￿ in eiiher year. The infomiation provided Ihrwghout tf#s note discloses details for the charitsble company's workforce in the United kn'ng¢Jom. The average number of peTh)ns employed in the UK is nine there are also three members of contract staff ern￿oyed by the SFA in the UK. the cost of these is presented in the a¢￿UnIS within bolh direct and support costs in Note 5. The infomation prowde(I thrthffjttout this note ¢Jisthses detail$ for the charitsble company's workfoTce in the Unrted Kingdgm. The charitable compwry *50 has a team of 9 employEes in Mongolia and 42 short-lerrn Service conlfactors for whom il completes regulatory filir@ in M(MWia.' the cost of this team is presented in the accounts within both diiect and supp)rt costs in Note S. Page 22 SUSTAINABLE FIBRE ALLIANCE IA company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Trustees. r•muneration and expens During the year, the charity has paid a salary to the Chief Executs"ve, who is also a Twstee. The charity has obtained permission from the Charities Commission for the Trustee to be paid remuneration for thier role as Chief Executive. The value of their remuneratw and other benefits was £76,729 (2023". £63,288> 2024 2023 Una Jones Remuneration PenS￿n Contributior￿ paKI Other benefits 49,714 26,104 52.984 10.305 Remuneration and benefits. including eMplo￿rS nabonal insurance recaved by key management Per$￿e1 lotalled £82,23312023.' £69.5051 During the year ended 31 January 2024. expenses lotalfrng £7,966 were reimbursed or paid directly to 1 Trustee (2023 . £6.210, one Tnjsteel. These eosls We￿ paMI for liavel ant1 sustenance exclusivety in perfoming the role of CEO, ralher than that of tntslee. Page 23 SUSTAINABLE HBRE ALLIANCE IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Tanglble Ilx•d assets equlpmont Cost or valuation At 1 February 2023 Addittons 13.215 10,541 At 31 January 2024 23,756 Depreclatlon At 1 February 2023 Charge for the year 5.514 At 31 January 2024 12.458 Net book value Al 31 January 2024 11.298 At 37 Janu8ry 2023 6,271 10. FAo¢#s 2024 2023 Finished 9oods and gertAs for resale 827 827 11. D•btoYs 2024 2023 Dug wllhln one year Tfade debt￿$ Other deblors Piepayments and accrued ineorne 294.500 S39 11.957 267,350 6.050 306,996 273.400 Page 24 SUSTAINABLE FIBRE ALLIANCE (A ct)mpany Ilmltgd by guarnnlg91 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 12. Creditots: Amounts falling due within one year 2024 2023 Trade creditors Othef tsxation and social security Other uedrtors Accruals and deferred income 1S.896 22,457 6,099 460.786 14,805 20,364 3,422 257, 786 505.238 296,377 Page 25 SUSTAINABLE FIBRE ALLIANCE (A c¢mpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 13. Statement of fvnds Statement of funds- current yg•r Balance at 1 February 2023 Balance at Transfers 31 January Inlout 2024 Incom• Exp•ndltsrn Unrestri¢ted funds Gener81 Funds- all funds 84.036 885.063 {859.9721 {3.6971 105,430 Restrlclgd funds UNDP EDRB Project Young Herder Training Programme ACEBA Afghanist Appienticeship ISEAL All￿n￿ Prqe¢t Rangeland Stewardth"p Lrfe Cyrle Anatysis 3.124 13.8051 1,935 6.226 20.000 126.7901 {7.4331 4.855 1.207 13.Od6 12.181 25.000 43.403 116.7281 (19.757) 144.$001 (4,5471 5.243 (1.097} 11.613 103.708 1119.0131 3.697 Total of funds 95.649 988.TT1 (978.9851 105.436 Page 26 SUSTAINABLE FIBRE ALUANCE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 13. ststement of fvnds Icontlnued) Ststement of funds- prior year 8818nce at 1 Febmary 2022 881ance 8t 31 J8nu&ry 2023 Trnnsfe ift/oul Incon* Expenditu Unrnstrided funds General Funds- all fuN 29.844 620,918 (555,392) (11.334) 84,036 Restrfcted funds EDRB Project Young Herder TrainirKJ Programme Small Ruminarrts Project UNDP ProJe¢t Volume Based Fee 30.741 8.279 (38.614) 406 11,451 to.o 6.330 io,c (19,516) (11,419) (16.663) (119.247) 1,935 1.419 668 9,247 110,LK(I 6.226 10.C ACEBA Aftharustan Apprenlttship 6.226 3.046 (6.954) 58.522 154. 170 (212,413) 11,334 11.613 Total of lunds 88.366 775,088 (767.805) 95,649 Restricted fund5 are for speofic projects. This year the negative balances are ￿USed by the liming of income and experKliture. Page 27 SUSTAINABLE FIBRE ALLIANCE IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 14. Summary offunds Summary of funds - current ye•r Balance at 1 February 2023 Balance at Transfer$ 31 January Inlout 2024 Incom8 Expendlture General fvnds Restricted furKIs 84.036 11.613 885.063 103.708 1859.9721 1119,013) 13,6971 3.697 105.430 95.649 988.771 1978.985) 10S,436 Summary of fvnd$- prior year Balance at l FebThary 2022 Balance at 31 January 2023 Trafft7sfers in/oul Income Expendkure General funds Restricted funds 29.844 58.522 620.918 154. 170 (555.392) (212.413) (11.334) 71,334 84.036 11.613 88.366 775.088 (767.805) 95,649 Page 28 SUSTAINABLE FIBRE ALLIANCE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 15. Analy$ls of nel ass•ts bet￿￿en fund5 Analysis of ngt assets between funds- curY¢Thl year Restricted Unrestricted funds funds 2024 2024 Totsl funds 2024 Tangble fixed assets Current assets Creditors due wthin one year 11,298 11.298 599,370 599.376 {505.238} {505,238 Total 105.430 105.435 Analysls of net assets betw¢•n funds- prlor year Reslricteo Unresliicted funds funds 2023 2023 Total funds 2023 . Tangible fixed assets Current assels Creditors due wthin one 6,271 6,271 374, 142 385, 755 (296,377) (296.377) 11.673 Total 11.613 84,036 95,649. 16. R•con¢llla¢lon of nel mov•m•nt in fvnds to net cash flow from op•ratiTrg activiti•s 2024 2023 Net ￿￿Ome for the year (as per Statem*tt ol Finartial Athitsesl 9.786 T.283 Adjustmgnts for: DepreCiat￿n charges Decreasellinueasel in stocks Increase in debtors I￿rease in creditors 5.S14 3,035 (827) (26.680) 35. 102 {33,596 208.861 N•t cash providod by operating activities 190.565 17,913 Page 29 SUSTAINABLE FIBRE ALLIANCE (A company limtted by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 17. Analysls of cash and cash equfvalents 2024 2023 Cash in hand 291.552 111.528 Total ca$h and cash equivalents 291.552 111,528 18. Analysis of chang•9 in net debl At1 February 2023 Cash fk)ws At31 January 2024 Cash at bank arKI in haThJ 111.528 180.024 291.552 111.528 180.024 291.552 19. Pensi¢)n comm5tments The charity operates a defined contribLrtI￿ pension sGherne. The assets ol the scheme are held separatety from those of the cha￿Y in an iPAJependently administered lund. The pension ¢osl charge presents ¢ontn"LyJlK)ns paKI by tre charty to the lund and amounted lo £37.576 {2023.. £10,115). Contributions of £5.774 {2023". £3.422) Towe pay*le to the at the balance sheet dale and are included In credit¢ys. Related party transactions The husband of the Chief Exe￿tive Officer ￿￿￿teel.WaS employed ty the Chafity and receNed. remunerab.on and benefits of £45.03612023'. NIL). The sister of Karen Perry ￿ruSteel was employed by the Charity and recwved remuneraiion of £1.09612023: NIL) Page 30