**Charity Registration No. 1176645** ## **ASTRIID** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 28 FEBRUARY 2023** ## **ASTRIID** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** C Faith J Self S Short D Rogers L Denchfield (Resigned 7 September 2022) M Davies L Adams (Resigned 7 March 2022) G Elliot A Smith (Joined 9 September 2022) **Chief Executive** S Shutts **Charity number** 1176645 **Principal address** Lawton Bridge Road Cranfield Surrey GU6 7HH **Accountants** Future Cloud Accounting Limited Unit 14 Halifax Court Fernwood Business Park Balderton, Newark. ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 3| |Accountants' report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 13| ## **ASTRIID** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ The Trustees present their report and financial statements for the year ended 28 February 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". ## **Objectives and activities** Astriid’s objectives for which the charity is established is the relief of unemployment amongst people whose lives are affected by chronic and long-term illness for the benefit of the public in such ways as may be thought fit, including assistance to find appropriate work and job placements. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake. ## **Reference and Administrative details** These are set out on page 2 in accordance with section 1:27 of Statement of Recommended Practice. In deciding on the activities of the charity the trustees have given due regard of the Charity Commissions guidance on public benefit and have complied with their duty in section 4 of the 2011 Charities Act. ## **Achievements and performance** Having achieved charitable status on the 12th of January 2018, by the 28th of February 2023, 135 candidates were placed into work and voluntary job placements. We had 2,564 candidates and 262 companies registered on our site since the registration of the charity. Astriid has created a job matching digital platform that connects candidates with job opportunities and we have initiated 3,725 connections since the inception of charity (which is an expression of interest by a company in the candidate). Astriid uses volunteers across the organisation. We would like to thank all our wonderful volunteers, without whom the charity could not run. We have recruited more than a dozen invisible talent pool volunteers and developed a partnership with Australian technical training supplier, With You With Me, who are now supporting candidates with practical help in training new skills that will help our candidates to find roles. We have a great volunteer team who help with the day to day running of the organisation covering finance, technology, communications, administration, event planning and more. We have recruited a volunteer (unpaid) CEO along with 2 new trustees with a range of diverse skills to strengthen the governance of the charity. We have undertaken a first service user consultation and had a strategy day with the trustee board and other stakeholders. Our new strategy involves developing paid for consultancy and training which has been launched in this financial year and aims to build the financial stability of the charity in the next 3 years. Through this, we have already been successful in securing a Welsh National Lottery grant to deliver this training to charities in Wales. 1 ## **ASTRIID** ## **Financial review** We would like to thank all our individual and corporate donors and several charitable trusts. Without their support we would be unable to provide the help we do. During the accounting period the charity received total income of £268,076 and incurred expenses of £289,783. The trustees have agreed a minimum of a three-month reserves policy which equates to a minimum of £14,000. The charity carried forward negative reserves of £12,578, which is inadequate to meet the reserves policy at this time. The charity aims to maintain reserves to meet the charity's outreaches but recognises it is facing difficulties currently. The trustees recognise that a deficit was incurred in the year, which impacted heavily upon the reserves and the going concern of the charity. This was anticipated by the trustees to enable the management team to bring in new processes and offer a wider range of services to our beneficiaries. The trustees have approved the budgets for the year to 28/2/24 which show a surplus of £11,553. The charity continues to develop its services and has set up a consulting division in the year to offer our expertise to boost recruitment, retention, and performance in a company’s workforce and to bring long-term conditions to their Diversity and Inclusion agenda. Currently, it has faced headwinds in gaining traction and a wider acceptance of the need for training in this area. We accept there are risks involved in the future operation of the charity but with a committed team working on our vision we are confident that the charity will continue to function and sustainable in the future. ## **Structure, governance, and management** The organisation is a charitable incorporated organisation, incorporated on 13th February 2017, and registered as a charity on 12th January 2018. The charity is established under a memorandum of understanding and governed under the Articles of Association. The management of the charity is the responsibility of the Trustees. The appointment of trustees is regulated by the Charity's memorandum and articles of association. The power of appointment of new trustees lies with the members and existing board of trustees. New trustees are recruited based on their skills and experience, and once a new trustee is recruited, they undergo an induction that introduces them to the work of Astriid and their responsibilities as a trustee. The charity paid Salesforce for software during the year. In addition, the charity provides Advanced Computer Software Group Ltd with candidates and earns income from them. Two trustees, S Short and M Davies have worked during the financial year for Advanced and Salesforce respectively, and we have recognised there is a conflict of interest and have drafted a conflict-of-interest policy, register and training on the implications of having a conflict of interest to ensure trustees declare interests correctly and are absent from any decision making. ## **Trustees’ responsibilities in relation to the financial statements** The charity trustees are responsible for preparing a Trustees’ Annual Report and 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 charity trustees to prepare financial statements for each year which give a true and fair view, of the state of affairs, of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently. - Observe the methods and principles in the applicable Charities SORP. - Make judgements and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements. 2 ## **ASTRIID** • Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and 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 in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. This report was approved by the trustees on 1st December 2023 and signed on their behalf by: Simon Short Chair of Trustees The Trustee’s report was approved by the Board of Trustees. ## **S Short** Trustees Dated: 1st December 2023 3 ## **ASTRIID** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ASTRIID FOR THE YEAR ENDED 28 FEBRUARY 2023** ## **Independent examiner’s report to the trustees of Astriid CIO.** I report to the trustees on my examination of the accounts of the above charity for the year ended 28[th] February 2023. ## **Responsibilities and basis of report** As the charity's trustees, 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 Trust’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 by examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2) the accounts do not accord with those records; or 3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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 to enable a proper understanding of the accounts to be reached. ## Charlotte Wilson ACA Unit 14, Halifax Court, Fernwood Business Park, Balderton, Newark, Date: 04/12/2023 4 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ ## **STATEMENT OF ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ |Notes
**Income from:**
Donations and legacies
3
Charitable activities
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
7
**Total resources expended**
**Net income for the year/ Net movement in funds**
Fund balances on 1 March 2022
**Fund balances on 28 February 2023**|**Unrestricted**
**funds**
**2023**
**Restricted**
**funds**
**2023**
**Total**
**2023**
Total
funds
2022
£
£
£
£
228,526
-
228,526
140,981
37,550
2,000
39,550
59,250| |---|---| ||**266,076**
**2,000**
**268,076**
200,231| ||109,073
-
109,073
117,794
173,710
7,000
180,710
165,830| ||**282,783**
**7,000**
**289,783**
283,624| ||(16,707)
(5,000)
(21,707)
(83,393)
4,129
5,000
9,129
92,522
**(12,578)**
**-**
**(12,578)**
9,129| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Charities Act 2011. 5 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ ## **BALANCE SHEET** ## _**AS AT 28 FEBRUARY 2023**_ |Note
**Current Assets**
Debtors
**10**
Cash at bank and in hand
**Total Current assets**
**Liabilities**
Creditors due within one year
**11**
The funds of the charity:
Restricted income funds
Unrestricted income funds
**Total charity funds**|Unrestricted
Restricted
Total
Prior
Funds
Funds
Funds
Year
£
£
£
£
2,371
-
2,371
30,181
5,643
-
5,643 1,083| |---|---| ||**8,013**
**-**
**8,013**
**31,264**
20,591
-
20,591
22,135| ||**(12,578)**
**- (12,578) 9,129**| ||-
-
-
5,000
(12,578)
- (12,578) 4,129| ||**(12,578)**
**-**
**(12,578) 9,129**| > The financial statements were approved by the Trustees on: 1 Dec 2023 > **Chair of Trustees:** Simon Short **Charity Registration No. 1176645** 6 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR**_ ## _**THE YEAR ENDED 28 FEBRUARY 2023**_ The charity is entitled to the exemption from the audit requirement contained in the Charities Act 2011, for the year ended 28 February 2023. The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with and which otherwise comply with the requirements of the Charities Act 2011 relating to financial statements, so far as applicable to the charity. The members have not required the charity to obtain an audit of its financial statements for the year in question. These financial statements have been prepared in accordance with the provisions applicable to charities subject to the small charities’ regime. ## **Charity information** Astriid is a Charitable Incorporated Organisation. The principal office is Lawton, Bridge Road, Cranleigh, Surrey, GU6 7HH. ## **1.1 Accounting convention** The financial statements have been prepared in accordance 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern.** Reference to our consideration about the going concern nature of the charity has been included in the Trustee report under the financial review section. At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 7 **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ ## **ASTRIID** ## **1.4 Income** All income is recognised once the company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Astriid matches those candidates with long term or chronic illness into positions of work with companies who register on our site. We ask those employers to make a voluntary donation to us once a person is employed by them. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The cost of each activity is made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated based on time spent, and depreciation charges allocated on the portion of the asset's use. Support costs are those costs incurred directly in support of expenditure on the objects of the company. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to governance of the company apportioned to charitable activities. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments. Financial instruments are recognised in the 's balance sheet when the becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **Basic financial assets** Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ ## **Basic financial liabilities** Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.8 Employee benefits** The average number of employees during the year was 11. (2022-8). Analysis of staff costs: |Salaries & Wages
Social security costs
Pension contributions|**2023**
**£**
**136,146**
**1,840**
**2,099**
**140,085**|2022
£
85,067
2,134
926
88,127| |---|---|---| Remuneration paid to key personnel in the year was £30,430 (2022-£36,409) ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 9 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR**_ ## _**THE YEAR ENDED 28 FEBRUARY 2023**_ ## **3 Donations and legacies** |Donations and gifts|**Unrestricted**
Unrestricted
**Funds**
funds
**2023**
2022
**£**
£
**183,163**
140,981| |---|---| ## **4 Charitable activities** |Other income|**Unrestricted**
Unrestricted
**Funds**
funds
**2023**
2022
**£**
£
**84,914**
59,250| |---|---| ## **5 Raising Funds** |Fundraising Expenses
**6**
**Analysis of charitable funds**
Analysis of fund movements
a)
Restricted funds
b)
Unrestricted funds|**Balance**
**b/fwd.**
**£**
5,000
4,129|**Unrestricted**
Unrestricted
**Funds**
funds
**2023**
2022
**£**
£
**85,144**
117,794
**Income**
**Expenditure**
**Balance**
**c/fwd.**
**£**
**£**
**£**
2,000
7,000
-
266,076 282,783
(12,578)| |---|---|---| ||**9,129**|**268,076**
**289,783**
**(12,578)**| 10 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ Analysis of charitable funds-previous year |a)
Restricted funds
b)
Unrestricted funds|Balance
Income
Expenditure
Balance
b/fwd.
c/fwd.
£
£
£
£
5,000
14,250
14,250
5,000
87,522
185,981
269,374
4,129| |---|---| ||92,522
200,231
283,624
9,129| The National lottery community fund (Restricted Income Fund) was established in 1993 as a distributor of national Lottery funding. The fund has been used in part, to offset the costs of marketing and public relations, to enable the charity to expand its reach. The balance of the funds has been held for future investment in technology in the next financial year. ## **7 Charitable Activities** |Staff costs
Contractors’ fees
Computer expenses
Insurances
Printing, postage, stationery
Telephone
Marketing & promotions
Travel & accommodation
Motor vehicle expenses
Software licence
Legal & professional
Bank charges
Governance costs
Training fees
Independent Review Fee|**2023**
2022
**Unrestricted**
**Restricted**
Unrestricted
Restricted
**Funds**
**Funds**
Funds
Funds
**£**
**£**
£
£
110,735
7,000
62,391
35,554
73,355
5,848
5,454
641
484
158
208
43
193
7,387
-
13,908
1,908
1,173
581
210
7,454
5,784
1,465
952
50
135
511
-
505
491
342
870
750| |---|---| ||**173,710**
**7,000**
151,580
14,250| 11 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ ## **8 Related party transactions and trustees’ expenses and remuneration** The trustees all give freely their time and expertise without any form of remuneration or other benefit in kind or cash (2022-£Nil). Expenses paid to the trustees in the year was £Nil (2022-£Nil). Two trustees, Simon Short and Martin Davies were employed by Advanced Computers and Salesforce UK Ltd respectively. During the year, the charity received £26,000 (2022: £29,743) in unrestricted donations from Salesforce UK to fund ongoing expenditure and received £9,131(2022: £10,576) from Advanced Computers for event matching and the placing of candidates. Both trustees were not involved in the application and receipt of the funds and the charity have recognised the issue around conflict of interest and we have drafted a policy to ensure potential conflicts are correctly recorded in the register and that they were absent from any decision-making involving Salesforce UK and Advanced Computers. ## **9 Contractors** |**Employment costs**
Contractor Fees

**10** **Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income

**11 Creditors: amounts falling due within one year.**
Other creditors
Taxation & social security
Pension contributions due|**2023**
**£**
**139,952**
**2023**
**£**
**2,371**
**2023**
**£**
20,140
167
283
**20,591**|**2022**
**£**
89,451
**2022**
**£**
30,181
**2022**
**£**
16,852
4,785
498
22,134| |---|---|---| 12 ## **ASTRIID** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ ## **12 Retirement benefit schemes** The charity operates a defined benefit scheme with Nest. All employees are invited to join after three months service. |**13 Cash generated from operations**
(Deficit)/Surplus for the year
Movements in working capital:
(Increase) in debtors

Increase in creditors
|**2023**
**2022**
**£**
**£**
(21,706)
(84,718)
27,810
(23,019)
(1,544) 9,795| |---|---| |**Cash generated from/ (absorbed by) operations**|**4,560**
**(97,942)**| 13