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← Tribe Freedom Foundation

2021-12-31-accounts

TRIBE Freedom Foundation

Report and financial statements

For the year ended 31 December 2021

Charity Registration Number 1172251

TRIBE Freedom Foundation

Contents

Page
Reference and administrative details 1
Trustees’ report 2 - 12
Independent examiner’s report 13
Statement of financial activities 14
Balance sheet 15
Principal accounting policies 16 - 18
Notes to the accounts 19 - 24

TRIBE Freedom Foundation

Reference and administrative information

For the year ended 31 December 2020

Trustees Mr Guy Hacking
Mr Rob Martineau
Mr Tom Stancliffe (Chair of the board of trustees)
Miss Elise Aitchison (Independent trustee)
Miss Camilla Monckton (Independent trustee)
Mr Andy Pusey (Independent trustee)
Mr Jeffrey Berman (Independent trustee)
Mr Simon Mark Pilcher (Independent trustee)
Mr Mark David Lacey (Independent trustee)
Charity registered number 1172251
Registered office TRIBE Freedom Foundation
LM 13.3.1, The Leather Market
11-13 Weston Street
London
SE1 3ER
Independent examiner Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers Barclays Bank Plc
1 Churchill Place
London
E14 5HP

1

TRIBE Freedom Foundation

Trustees’ report

For the year ended 31 December 2021

The trustees present their statutory report along with the financial statements of TRIBE Freedom Foundation for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out on pages 16 to 18 and comply with the charity’s governing document, the Charities Act 2011 and “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 United Kingdom and Republic of Ireland’ (‘FRS’ 102)”.

Structure, governance and management

The TRIBE Freedom Foundation (“the charity”) is a charitable incorporated organisation (CIO), not having share capital. It operates in accordance with a Constitution adopted on 24 March 2017. If the charity is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

The trustees make the key decisions about the conduct of the charity. The trustees give their time voluntarily and do not receive any remuneration for services to the charity. The day-to-day management of the charity is carried out by the Head of Impact and Partnerships and the Fundraising and Community Manager who both work full-time for the charity. During the year, they were supported by Tom Stancliffe, Rob Martineau and Guy Hacking who are considered key management personnel.

Partnership with TRIBE

The charity was established by Guy Hacking, Tom Stancliffe and Rob Martineau, all of whom are employees, shareholders and directors of Everyday Adventure Limited (trading as “TRIBE”, company registration number 09286289). TRIBE is a sports nutrition brand which sells natural performance nutrition products online and in retail. TRIBE has also built one of the fastest-growing communities of athletes and adventurers in the UK, engaging 50,000+ through regular campaigns and events.

The arrangements between TRIBE and the charity are set out pursuant to the Collaboration Agreement and the Commercial Participation Agreement dated 26 March 2019. The agreements state that TRIBE shall make a donation of 1p to the charity for every TRIBE Sports Nutrition product that is sold and TRIBE organises fundraising events in which participants are encouraged to fundraise for the charity.

For the avoidance of doubt, the trustees of the charity are able to make their own decisions outside the scope of any funding by TRIBE. The trustees believe this is an innovative partnership that provides a unique opportunity for the charity to raise public awareness of human trafficking and raise funds.

Recruitment and appointment of trustees

The trustees have complete control of the charity in relation to application of funds. Trustees are appointed in accordance with the charity’s governing document which states that there must be a minimum of three charity trustees. It was further agreed, pursuant to incorporation discussions with the Charity Commission for England and Wales, that at least three trustees independent of TRIBE (the “Independent Trustees”) would be appointed. All decision-making of the charity is made in accordance with the charity’s conflicts of interest policy.

2

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Trustees

The trustees of the charity during the year ended 31 December 2021 were:

Mr Guy Hacking

Mr Rob Martineau

Mr Tom Stancliffe (Chair of the board of trustees) Miss Elise Aitchison (Independent trustee) Miss Camilla Monckton (Independent trustee) Mr Andy Pusey (Independent trustee) Mr Jeffrey Berman (Independent trustee) Mr Simon Mark Pilcher (Independent trustee) Mr Mark David Lacey (Independent trustee)

Trustee induction and training

The charity trustees control the charity and its funds. Each trustee is made aware of their duties as a trustee upon appointment and accept their responsibility to keep up to date with changes in statutory requirements that affect the role and responsibilities of trustees. Upon appointment a new trustee will be provided with:

Risk management

Business decisions and the associated risk factors are considered at least annually. As part of this process the internal controls that are in place are reviewed. Internal control risks are minimised by a clear system of delegated authority and control, and procedures for the authorisation of all financial transactions. The trustees are satisfied that these are currently adequate to manage and reduce the risks identified.

Objectives and activities of the charity

The objects for which the charity is established are for the public benefit, the relief and assistance of people in need in England and Wales who are the victims of human trafficking and modern slavery by:

The charity’s overarching mission is to fight modern slavey and end human trafficking. On a day-to-day basis, the charity and the trustees work to achieve this via the pursuance of our core organisational objectives. These guide our long-term strategy, including all Foundation-led projects, grant-making and partnership-working:

3

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Achievements and performance

The trustees are incredibly proud to share an overview of the charities achievements and performance in 2021. During the year, key highlights relating to the charity’s impact include:

The charity’s wider impact, achievements and performance can be summarised in relation to our core organisational objectives:

Objective 1: Increasing Public Awareness

During the pandemic, the risk of modern slavery increased and traffickers found new ways to exploit vulnerable people across our communities. It was, therefore, more important than ever to increase public understanding of the issue. In 2021, the charity continued to engage communities across the UK and the world, raising awareness through our events, talks, campaigns and virtual challenges.

Our key activities, outcomes and achievements include:

Events and Campaigns

Throughout 2021, the charity engaged 265 Fundraisers and more than 3,580 Donors in our campaigns and events; helping to improve understanding of slavery across these networks. The charity coordinated virtual events targeted at the TRIBE community to increase awareness of modern slavery and spark conversation amongst new audiences, such as the TRIBE Power of 1000: 5K Challenge and the TRIBE International Women's Day Challenge 2021. The charity also saw a return to in-person community events with the TRIBE Relay Across Scotland and the TRIBE Night of Adventure bringing together 140 supporters to learn more about the realities of modern slavery and raise funds to support the charity’s projects.

The charity also launched an awareness-raising video campaign to mark £1,000,000 raised to fight modern slavery by the TRIBE community. The campaign, TRIBE on a Mission, highlighted the stories of Emily, Deo and Tom, three TRIBE ambassadors, each of whom shared their perspective on community, modern slavery and what motivates them to fight for freedom. As part of the campaign, TRIBE Nutrition launched a limited edition bar which promoted the campaign and directed buyers to a landing page hosting the videos. The campaign received 2,714 views and generated 8,297 impressions.

“If the world was compassionate, exploitation can’t happen”

4

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Press

Our projects, partners and events helped to bring modern slavery into the spotlight with mainstream media pieces featuring the charity’s projects and campaigns featured across The BBC, The Guardian and The Times. The charity’s report, ‘Preventing Modern Slavery and Human Trafficking: An Agenda for Action across the Financial Services Industry’ which launched in January 2021 was also featured across 23 sector news outlets and UK Government Reports.

Talks and Webinars Partnerships

With many talks and webinars continuing online, the charity engaged a wide range of new partners and their employees. New partners in 2021 included Lifestyle Brands (Ecover & method), Crowdcube, Accenture, Teneo, Nasdaq, Ripjar and Barrows London, among others. Talks were tailored to engage employees with key information about modern slavery and how to help tackle it through their networks. The TRIBE Relay Across Scotland proved a key opportunity to bring together partners from across the RegTech space to amplify awareness of modern slavery and promote collaboration.

“TRIBE’s values and goals of combatting human trafficking and modern slavery align with Nasdaq’s ambitions to safeguard the capital markets and detect illicit proceeds from crimes related to human trafficking. This partnership with TRIBE Freedom Foundation leverages our combined capabilities and networks to create a long-lasting impact for survivors, ” said Darren Innes, head of AML Products at Nasdaq.

The launch of the charity’s report, ‘Preventing Modern Slavery and Human Trafficking: An Agenda for Action across the Financial Services Industry', in January 2021 (published in collaboration with Themis Financial Crime Agency and commissioned by the UK Independent Anti-Slavery Commissioner) also helped generate new partnership leads and has raised awareness of the role of the financial industry in the prevention of modern slavery. Over 700 participants attended the financial industry webinars, sharing the findings and recommendations from the charity’s Financial Industry Report.

TRIBE Product Donations

1 pence from every TRIBE product sold is donated to the charity. In 2021, more than 1,826,480 products were purchased (2020: 1,330,747), helping to increase awareness across global communities. £18,265 was donated in total for TRIBE product sales.

Objective 2: Long Term Survivor Support

In 2021, the charity continued to champion holistic, long-term support for survivors of modern slavery across the UK and beyond. This included grant funding and community support for our 2021 frontline project partners; Ella’s, HERA and the Helen Bamber Foundation, who work to empower survivors to regain their freedom and independence. As the long-term socio-economic effects of COVID-19 continue to impact survivors and increase vulnerabilities which drive human trafficking and exploitation worldwide, the outstanding support of our project partners could not have been more important.

5

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Our key activities, outcomes and achievements include:

Funding for frontline support

In 2021, the charity raised £140,000 for our frontline project partners to increase access to safe accommodation and long-term support. This enabled the charity to provide multi-year funding to our partners at Ella’s, HERA and the Helen Bamber Foundation. Together, with grant funding from TRIBE Freedom Foundation, our frontline project partners provided critical support for a combined total of 298 survivors in 2021.

Specific funding outcomes which enabled our partners to grow their impact and support greater numbers of survivors included:

Feedback from our frontline project partners demonstrated the importance of developing strong multi-year partnerships which offer added value in terms of awareness raising, community and human resources, going beyond simply a financial contribution.

100% project partners strongly agree that “Funding from TRIBE Freedom Foundation enabled our charity to create a greater impact in the fight against modern slavery and/or empower greater numbers of survivors” and “Working in partnership with TRIBE Freedom Foundation has added value above and beyond a financial contribution, enabling us to create a greater impact”.

“Working with TRIBE Freedom Foundation is fantastic because of the additions the partnership offers. The financial contribution is essential to support our work but the close relationship created also makes a terrific difference in the strength of ideas and the opportunity to grow together. Working with the Foundation has meant new mentors have joined the HERA team and they have been fantastic. TRIBE have also been generous in their support with goodies for student welcome boxes and for fundraisers which has been very much appreciated by all.”

Sophie-Rose Holt, UK Programme Director at HERA

Promoting Education and Employment

Foundation funding enabled 148 survivors at Ella’s, HERA and the Helen Bamber Foundation to start education or employment in 2021; developing the skills to live freely and independently. In addition to funding, three TRIBE community volunteers were inducted into the HERA Mentoring Programme to provide 1-1 support for survivors who have completed the HERA Entrepreneurship training course and support them to pursue their career aspirations.

For many survivors of modern slavery, education and employment are key building blocks which will enable them to recover and build a new life. Without this, they would be at extremely high risk of re-exploitation. Sharon is a survivor who has been supported by our partners at Ella’s:

6

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

‘I’ve been with Ella’s two years now, and they’ve helped me in so many ways,’ says Sharon, who had recently moved out of Ella’s safe house and is living in her own rented flat. ‘Firstly my education, and also my health. The help at Ella’s depends on what the woman needs. They will find a way to help every person.’

‘I am now studying nursing at college. My Ella’s support worker helped me apply, and understand the process and implications of studying…I chose to study nursing because I really want to help other people. For many, many years I’ve needed help from others. And though I can’t go back to help all those people in return, I can do something to help others in the future.’

Survivor Financial Inclusion

In August 2021, the charity partnered with Nasdaq to begin work on the development of a new programme to equip financial institutions and survivor support organisations with the tools needed to promote long-term financial wellbeing, freedom and stability for survivors of modern slavery.

The TRIBE Survivor Financial Empowerment Programme is a free digital learning platform which will launch online in September 2022. During 2021, the charity was focused on refining the project scope and commenced its industrywide consultation and outreach initiative which would engage with over 1,000 contributors, including survivors, financial institutions, survivor support organisations, and the Finance Against Slavery and Trafficking Initiative (FAST).

The objectives of the programme are to:

“Access to a bank account and giving survivors the power to take control of their own money is a key step in recovery, but it's about much more than this. We established the TRIBE Survivor Financial Empowerment Hub to help ensure that all survivors are equipped to rebuild long-term financial independence, enabling them to flourish and supporting their wider well-being” Tom Stancliffe, Co-Founder of TRIBE Freedom Foundation

Objective 3: Preventing Modern Slavery

With the tools to better understand, identify and report modern slavery, we can all help to prevent it in the long term. In partnership with key industry leaders, including the Independent Anti-Slavery Commissioner, Themis Financial Crime Agency and Justice & Care, the charity is helping to disrupt traffickers and develop the tools which will enable businesses and communities to prevent modern slavery.

Our key activities, outcomes and achievements include:

7

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Preventing Modern Slavery: An Agenda for Action

In January 2021, we published our collaborative report, ‘Preventing Modern Slavery: An Agenda for Action’ which was written in partnership with Themis Financial Crime Agency and commissioned by the Independent Anti-Slavery Commissioner to highlight the financial industry’s role in preventing modern slavery. The report can be viewed freely online via the link below:

https://themisservices.co.uk/msht-full-report

Following publication, the report has had over 3,500 readers (views) and has gained 25,000+ social media impressions as well as extensive industry press. It has also sparked engagement and action across the financial industry as demonstrated by the responses received by UK Independent Anti-Slavery Commissioner, Dame Sara Thornton who wrote to 51 CEOs in the financial sector. Dame Sara asked CEOs what steps their organisations were taking to address modern slavery concerns in their businesses, supply chains, lending and investment portfolios. Forty-four organisations responded, ranging from international banks to investment platforms, building societies and digital payment companies. Their responses highlighted examples of best practices, both within individual financial organisations and through collaborative efforts. The responses were often detailed and described innovative initiatives, leadership commitment and collaborative working.

Dame Sara Thornton said: "I am encouraged by the responses that I received from organisations in the financial sector, many of which were detailed and demonstrated clear intent to effect real change. I am convinced that the only way this will be achieved is if business leaders set the tone from the top and commit to eradicating all forms of coercive labour practices.”

Empowering investigations to disrupt traffickers

In 2021, the TRIBE community raised £35,000 to support Justice & Care’s award-winning Victim Navigator Programme. This project delivers specialist care to victims and bespoke training to police teams; helping more victims to be rescued and greater numbers of traffickers to be prosecuted. With funding from the Foundation, two new Victim Navigators joined the Metropolitan Police in 2021. In total, the Metropolitan Victim Navigators were able to support 48 survivors of modern slavery and provided specialist tactical advice for 21 ongoing investigations.

The police involved have praised the Victim Navigators for keeping the victims engaged, sharing "There is no way they would have stayed on board and got there without you” and “I can't thank you both enough for everything you have done with the girls this last couple of weeks. We couldn't have got to this point without you, you are a pair of angels!”

The recent evaluation of the Justice and Care Victim Navigator role identified that 89% of victims supported by the Navigators engaged with police investigations and 35% were willing to support a prosecution, compared to 33% who engage with police nationally*. This provides key evidence to improve investigations and prosecution rates.

In terms of wider prevention, representatives of the Victim Navigator programme have also met with a delegation of Romanian Border Force, presenting on victim identification as well as on the wider Navigator Programme, and helping establish stronger coordination pathways between the two countries, ensuring more victims are safeguarded and protected from exploitation.

8

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Foodies Fighting Slavery

The TRIBE Freedom Foundation “Foodies Fighting Slavery” project was commissioned by the UK Anti-Slavery Commissioner and launched in December 2021, in collaboration with STOP THE TRAFFIK. The project aims to empower the 7,590 Food & Drink SMEs across the UK with the tools and resources to tackle modern slavery throughout their businesses and supply chains. Our ultimate goal is to inspire and empower SMEs to overcome existing barriers and help combat forced labour in the food industry. We want to raise awareness of the issue amongst wider industries and consumers, to create a collaborative, powerful network of food and drink SMEs fighting to end modern slavery.

During 2021, we conducted initial outreach with SMEs across the UK Food & Drink sector to understand the challenges they were facing and the barriers which prevented them from taking action to prevent modern slavery in their operations and supply chains. We consulted with 26 employees and we identified six common barriers preventing their companies from taking action against modern slavery: time constraints, organisational buy-in, leverage and perceived ability to make a change, alternative organisational priorities, lack of supplier transparency, knowledge and awareness of risks and a lack of existing resources. In 2022, we will continue to understand the needs of Food & Drink SMEs so as to develop the tools required for them to overcome these challenges and take action against modern slavery in their operations.

We also conducted a nationally representative consumer omnibus, surveying 2,001 people to investigate consumer attitudes towards modern slavery and the food industry. We found clear evidence that ethical practices and the prevention of modern slavery across the food industry is important to UK consumers:

Preventing Child Exploitation

In 2021, we provided funding to support STOP THE TRAFFIK’s campaign to help prevent child exploitation and followup research which explored how different individuals’ and organisations’ perspectives vary on this issue.

STOP THE TRAFFIK deployed a robustly tested and independently evaluated model in order to reach key audiences through social media. Static and visual content was developed – based on insights from partner expertise and just under 50 key informant interviews – to inform a one-minute campaign video and website landing page, reaching 732,581 people in England between July and August 2021. The campaign provided caregivers with critical information on how to identify signs of exploitation and access support from specialist organisations.

Subsequent research was conducted to understand gaps in knowledge and perception between children, support providers and caregivers, in order to more effectively prevent child exploitation in the long term. This focused on assessing the biggest gaps in perception and knowledge. The report, ‘Understanding Child Exploitation: Perception and Knowledge Gaps Between Children, Caregivers and Support Providers’ was published in October 2021 and included detailed insights and policy recommendations to help drive adequate prevention and timely action to support victims of child exploitation in the UK.

9

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Public benefit statement

The trustees of the charity have given due regard to the Charity Commission’s guidance on public benefit and have taken reasonable steps to ensure that this guidance has been considered in the activities undertaken by the charity to deliver its charitable purposes.

The charity delivers a benefit to the public through the pursuance of its principal objects

Financial review

The results for the year are shown in the statement of the financial activities on page 14. During the year the charity received donations of £243,767 (2020: £187,035(restated)) and made grants for the benefit of anti-slavery and antitrafficking of £200,000 (2020: £90,000). The costs for raising funds totalled £46,233 (2020: £40,424(restated)) and support costs for the year totalled £32,371 (2020: £43,337(restated)). The result for the year ended 31 December 2021 was a deficit of £34,837 (2020: £13,274 (surplus) (restated)) and was in line with the trustees’ expectations. This was in line with trustees’ expectations due to the fact that there were sufficient funds at year end to cover this deficit.

The balance of the unrestricted reserves as at 31 December 2021 was £21,465.

Reserves policy and financial position

The level of reserves is monitored and reviewed by the trustees at least annually. The trustees believe that the charity should target to hold unrestricted financial reserves equivalent to a minimum of four month’s operating costs. Based on the above policy, the Trustees calculate that the target level of free reserves would be approximately £25,000 as at 31 December 2021.

As at 31 December 2021 the charity’s free reserves were £21,465 (2020: £31,302(restated)) and designated fund reserve of £Nil (2020: £25,000). The Trustees are confident that the current level of reserves is sufficient to cover four month’s of operating costs especially since the target amount was an estimate and the current level is not materially different.

10

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Plans for future periods

In 2021, the Foundation took exciting steps forward in terms of its project developments, community fundraising and strategic partnerships. The trustees are excited to continue working towards the charity’s mission, scaling our impact to support those who need our help the most and working to prevent modern slavery in the long term. The charity will continue working to fight modern slavery and empower the survivors by raising awareness of modern slavery, championing holistic long-term support for survivors and working in collaboration with key stakeholders to disrupt and prevent traffickers, making it increasingly difficult for them to operate.

The charity’s future aims and objectives include:

Raising Awareness

Raising the profile and increasing awareness of modern slavery through new partnerships, insightful content and a more active presence in the public sphere. We will continue to partner with other anti-slavery organisations and leverage our collective voices to amplify our impact. This will include social media campaigns and digital outreach. We will continue to grow our community programme, engaging +100,000 people in our campaigns and events each year. Four major campaigns are planned to deliver this, whilst fundraising for the charity in 2022. These include the TRIBE x Maverick Run Free Marathon, TRIBE Relay Across Scotland and TRIBE Run for Love 4.

Long Term Support

The charity will continue to champion holistic, trauma-informed support for the survivors of modern slavery across the UK and beyond. Promoting best practice, and policy change to improve support for survivors on a global scale. In 2022, the charity will launch a new programme to equip financial institutions and survivor support organisations with the tools needed to promote long-term financial well-being, freedom and stability for survivors of modern slavery. The TRIBE Survivor Financial Empowerment programme will be developed in consultation with our project partners, key industry stakeholders and financial institutions across the UK and the US.

Preventing Modern Slavery

By bringing together experts from different fields the charity will continue to fight slavery, drive systemic change and equip businesses with the tools to prevent modern slavery. In particular, the charity will continue to support the Financial Sector and Food & Drink industries to disrupt trafficking through their influence and global networks. The charity will continue work on the Foodies Fighting Slavery Project, commissioned by the UK Independent Anti-Slavery Commissioner and delivered in collaboration with STOP THE TRAFFIK. The project team will build the project evidence base and produce new tools to empower SMEs to overcome existing challenges and take action against slavery.

11

TRIBE Freedom Foundation

Trustees’ report (continued)

For the year ended 31 December 2021

Trustees' responsibilities statement

The trustees 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).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charity (Accounts and Reports) Regulation 2008 and the provisions of the governing document. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

This report was approved by the trustees on and signed on their behalf by:

Miss Camilla Monckton Trustee

Date:

12

Independent examiner’s report to the trustees of TRIBE Freedom Foundation

For the year ended 31 December 2021

Independent examiner’s report to the trustees of TRIBE Freedom Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Gumayel Miah Buzzacott LLP

Chartered Accountants 130 Wood Street London EC2V 6DL

Date: 28 October 2022

13

TRIBE Freedom Foundation

Statement of financial activities

For the year ended 31 December 2021

Notes
Income & endowments from:
Donations and legacies
3
Total
Expenditure on
Raising funds
4
Charitable activities
5
Total
Net (deficit)/income
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
243,767
243,767
46,233
232,371
278,604
(34,837)
(34,837)
56,302
21,465		 Unrestricted
funds
2020
(restated)
£
187,035
187,035
40,424
133,337
173,761
13,274
13,274
43,028
56,302

All activities relate to continuing operations.

The notes on pages 16 to 24 form part of these financial statements.

14

TRIBE Freedom Foundation – Registration number 1172251

Balance sheet

As at 31 December 2021
Notes
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Net assets
Charity Funds
Unrestricted funds:
General fund
12
Designated fund
12
Total unrestricted funds		 2021
£
81,474
191,108
272,582
(251,117)
21,465
-		 2021
£
21,465
21,465
21,465
21,465		 2020
(restated)
£
1,463
185,208
186,671
(130,369)
31,302
25,000		 2020
(restated)
£
56,302
56,302
56,302
56,302

Total unrestricted funds

The financial statements were approved by the trustees and signed on their behalf by:

Miss Camilla Monckton

Trustee

Date:

The notes on pages 16 to 24 form part of these financial statements.

15

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

1. General information

TRIBE Freedom Foundation (“the charity”) is a charitable incorporated organisation (CIO), not having share capital. It operates in accordance with a Constitution adopted on 24 March 2017. If the charity is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. Its registered office and principal place of business is TRIBE Freedom Foundation, LM 13.3.1, The Leather Market, 11-13 Weston Street, London SE1 3ER. The charity registration number is 1172251.

2. Principal accounting policies

2.1 Basis of preparation

These accounts have been prepared for the year ended 31 December 2021.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or in the notes to these accounts.

The accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)”, ‘The financial reporting standard applicable in the UK and Republic of Ireland (‘FRS’ 102)’ and the Charities Act 2011.

The charity constitutes as public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

2.2 Critical accounting estimates and areas of judgement

There are currently no significant judgements and estimates made by the trustees in the preparation of the accounts.

2.3 Assessment of going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

2.4 Cash flow statement

The accounts do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to produce such a statement under Accounting and Reporting by charities Statement of Recommended Practice (Charities SORP (FRS 102)).

16

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

2. Accounting policies (continued)

Income is recognised in the year in which the charity is entitled to receipt, the amount can be measured reliably and it is probable that income will be received. Where income relates to future periods, this income will be deferred. Grants and donations received for the general purposes of the charity are included as unrestricted funds; grants and donations for activities restricted by the wishes of the donor are taken to restricted funds.

2.6 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is included in the accounts on an accruals basis and included attributable VAT which cannot be recovered.

Expenditure is allocated to the particular activity on a direct basis or by allocation based on the level of direct expenditure relating to that activity.

Expenditure comprises the following:

a. The costs of charitable activities comprise expenditure related to the charity‘s primary charitable purposes. Such costs include:

c. Support costs are the costs associated with the governance arrangements of the charity and the general running of the charity. Included within this category are costs associated with the strategic as opposed to day-to-day management of the charity’s activities.

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TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

2. Accounting policies (continued)

2.7 Debtors

Debtors are recognised at their settlement amount, less any provisions for non-recoverability. Prepayment are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

2.8 Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisitions.

2.9 Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date because 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. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

2.10 Pensions

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the charity in independently administered funds.

2.11 Taxation

TRIBE Freedom Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

2.12 Fund accounting

Restricted funds are to be used for specific purposes as specified by the donor. Expenditure, which meets their criteria, is charged to the fund.

General unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity.

18

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

3. Donations and legacies

Donations
4.
Raising funds
Fundraising event costs
Allocated support costs (note 6)
5.
Charitable activities
Grants and donations (a)
Support costs (note 6):
Research costs
Salary
Pension costs
Training
Marketing
Printing, postage & stationary
General office expenses
Travel costs
Rent
PAYE Interest
Governance costs
Accountancy and examination fees
Total charitable activities		 Unrestricted
funds
2021

£
243,767
243,767
Unrestricted
funds
2021

£
20,244
25,989
46,233
Unrestricted
funds
2021
£
200,000
82
20,523
402
-
1,260
1,539
1,210
151
904
-
26,071
6,300
232,371		 Unrestricted
funds
2020 (restated)
£
187,035
187,035
Unrestricted
funds
2020 (restated)
£
21,885
18,539
40,424
Unrestricted
funds
2020 (restated)
£
90,000
20,718
14,000
327
3
933
1,642
585
-
1,025
24
39,257
4,080
133,337

19

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

Grants committed but not yet paid at 1 January 2021
Grants paid during the year
Grants committed but not yet paid at 31 December 2021		 Total
funds
2021
£
(90,000)
115,000
175,000
200,000		 Total
funds
2020
£
(160,000)
160,000
90,000
90,000

The trustees committed to the following grants

Grants for the period were made in support of the following charitable activities:

Social welfare Total
funds
2021
£
200,000
200,000		 Total
funds
2020
£
90,000
90,000

20

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

The following institutions were awarded grants during the period ended 31 December 2021. Grants are not made to individuals.

Ella’s
Helen Bamber Foundation
Justice & Care
Her Equality Rights & Autonomy
STOP THE TRAFFIK		 2021
£
70,000
35,000
35,000
35,000
25,000
200,000		 2020
£
30,000
25,000
25,000
10,000
-
90,000

6. Support costs

2021

Research costs
Staff costs
Pension costs
Marketing
Printing, postage &
stationary
Administrative costs
Travel cost
Rent
PAYE Interest
Governance costs
Accountancy and
examination fees		 Raising
funds
(note 4)
£
-
20,523
402
1,260
1,539
1,210
151
904
-
25,989
-
25,989		 Charitable
activities
(note 5)
£
82
20,523
402
1,260
1,539
1,210
151
904
-
26,071
6,300
32,371		 Unrestricted
2021
£
82
41,046
804
2,520
3,078
2,420
302
1,808
-
52,060
6,300
58,360		 Restricted
2021
£
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2021
£
82
41,046
804
2,520
3,078
2,420
302
1,808
-
52,060
6,300
58,360

21

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

2020
Research costs
Staff costs
Pension costs
Travel
Training
Marketing
Printing, postage &
Administrative costs
Rent
PAYE Interest
Governance costs
Accountancy and
examination fees		 Raising funds
(restated)
(note 4)
£
-
14,000
327
-
3
933
1,642
585
1,025
24
18,539
-
18,539		 Charitable
activities
(restated)
(note 5)
£
20,718
14,000
327
-
3
933
1,642
585
1,025
24
39,257
4,080
43,337		 Unrestricted
2020
(restated)
£
20,718
28,000
654
-
6
1,866
3,284
1,170
2,050
48
57,796
4,080
61,876		 Restricted
2020
£
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2020
(restated)
£
20,718
28,000
654
-
6
1,866
3,284
1,170
2,050
48
57,796
4,080
61,876

Support costs are allocated on a percentage basis of 50% apart from those costs which can be identified separately.

7. Employees

The average monthly number of employees during the year was 1 (2020 - 1).

There were no employees who received employee benefits of more than £60,000 (2020: none).

8. Trustees’ remuneration

No trustees received any emoluments for their services as trustees during the year (2020: Nil). No trustees were reimbursed any expenses during the year (2020: Nil).

9. Debtors

Debtors
Trade debtors 2021
£
81,474
81,474		 2020
£
1,463
1,463

22

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

10. Creditors: amounts falling due within one year

Trade payables
Other creditors
Income in advance
Accruals
Grants payable (note 5a)		 2021
£
4,952
17,747
47,118
6,300
175,000
251,117		 2020
£
30,498
5,791
-
4,080
90,000
130,369

11. Analysis of assets between funds

Fund balances as at 31 December 2021 are represented by:

Current assets
Current liabilities
Total net assets		 Unrestricted
funds
2021
£
272,582
(251,117)
21,465		 Unrestricted
funds
2020
(restated)
£
186,671
(130,369)
56,302

12. Unrestricted funds

General fund
Designated
fund		 Balance at 1
January 2021
(restated)
£
31,302
25,000
56,302		 Income
£		 Expenditure
£
(253,604)
(25,000)
(278,604)		 Transfers
between
funds
£
-
-
-		 Balance at 31
December 2021
£
243,767
-		 21,465
-
243,767 21,465

The general fund represents the free reserves and the unrestricted funds of the charity include a Prevention and Awareness designated fund of £25,000 which was set aside by the trustees for a specific purpose. This fund comprises monies set aside by the trustees towards grants to be made in 2021 aimed at preventing and increasing awareness of human trafficking. In May 2021 the trustees awarded a grant of £25,000 from the designated fund to STOP THE TRAFFIK (charity number: 1127321) for their Child Trafficking Prevention and Awareness project understanding child exploitation, providing training in schools and investigating the perception and knowledge gaps between children, caregivers and support providers.

23

TRIBE Freedom Foundation

Notes to the financial statements

For the year ended 31 December 2021

13. Related party transactions

The following trustees of the charity are also directors of TRIBE:

During the year, TRIBE donated £18,265 (2020: £13,307) to the charity. Further details of this arrangement are covered in the Trustees’ report.

The charity also paid amounts totalling £4,762 to TRIBE (2020: £12,049) in respect of fundraising costs. By way of background, the charity purchased merchandise and nutrition "at cost" from TRIBE as fundraising rewards for fundraisers. The fundraising rewards helped to maximise fundraising for virtual charity events by incentivising fundraisers to hit their fundraising targets. The benefit of this arrangement for the charity is that: (i) the charity does not have to hold inventory of fundraising rewards and can purchase fundraising rewards at the cost it is purchased or manufactured by TRIBE (i.e. no profit), and (ii) TRIBE further subsidises the storage and logistics costs associated with sending the fundraising rewards to fundraisers.

At the reporting date, £3,998 (2020: £1,463) was owed to the charity by TRIBE. These amounts were paid in full by TRIBE on 3 February 2022. In addition £Nil (2020: £6,215) was owed to TRIBE by the charity.

There were no other related party transaction during the year ended 31 December 2021 (2020: none).

14. Prior year adjustment

During the year, it was discovered that errors were made in the bank postings for 2020.

Adjusting for these errors relating to prior year had the following impact in the year ended 31 December 2021:

24