Acumen Academy UK
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2023
-Copr
ANDERSON BARROWCUFF uMrfED

Charity information
Repcrt of the Twstees
Statement of fimndal a¢￿￿tieS
Balance sheet
Notes to the accounts
6-12
Independent Examlnerfs Report
13

Trustee
Rebecca Ea5tmond
Bato¢A Hassan (Resigned 28102120231
Farrukh Khan {R￿18ned 30109120231
John Stares
William Work Olesigned 30A)9r20231
Sarah FaroN)q (Appointed 01103120231
Duro (tye ￿poInted 01103120231
()avidJeremy Gold Wppointed 01103f20231
Katherine Parker (Appointed 20105r20241
KAtherine Osb¢)m IAppointed 0110612023)
Programme Dlrertor
Benjamin Lane
Charfty Number.
1185457
Prindpal Address
Acumen Academy UK
Somerset House
Strand
London
VIC2R I LA
Bankers
Natwest Bank Hc
POBox414
38 Strand
London
WC2H 5JB
Ihdependent Examlner
Mrsj M Benr*tt
Anderson Barr0V￿rFf timited
3 ￿ngfisher Court
Bchvesfield Park
Stockton on Tees
T518 3EX
Page 1

The Tru5tee5 pre5erTttheir report together wth financial staternents forthe Year Ended 31 December 2023.
The Trustees have adopted the prowsions of the Statement of Recommended Praalce {SORP)"Accounting and
Reporting by Charitie¢ in preparing the annual report and finanoal statements of the charity.
The financial stateM￿ts have been prepared in accordance the &counting policies set out in note5 to the
accounts and comptywth the charitys goveming d￿lMent. the Charitie5 Art2011 and Accounting and Reporting
by Charities: 5taternent of Recommended Practice applicable to charities preparing their accounts in accordan
h the Financial Rep)rting Standard applicable in the UK and Republic of [￿Land published In Ottober2019.
OBJECTIVES AND ACTMTIES
The Chartys objecrs are to advance educatio￿ development and training of indivTrduals to enable them to work
for the benefrt of society and deliver progresswe 50aal change in communities and oryanisations. The principal
aCt￿lty is to delwer leadership training through online and re%dentlal programmes for those working to (reate
social or environmèrrtal change. mainty char[rI￿ social enterprfses and other wjrpose-led organlsations.
ACHIEVEMENTS AND PERFORMANCE
Thè charty delniered the 2022-23 Fellows Programm< designed to support a cohort of social lèaders wlth the
leadershlp skills and communlty needed ro deepen their abilty to build progressive Social change in their
communfdes and orsantsatlon& Programme desÈn Improvements were made based on 2022-23 Fellows
Pmgramme delDiery and learning. In parallel. the charity has established a range of opportunities and events for
pmgramme alumni IAKA The Foundry) and completed detsiled anatysis and evaluation of qualry and impact of
the alumnl programming. Further, the tharfry wcce$shJl￿ completed the 2023-24 Fell¢)w5hip outreach and
selettion. worklng with over 350 outreath partners.
FINANCIAL REVIEW
The charlty made a deflclt of £24,921 P021" surplus £53A701 during the year on unrestricted funds and nil12022'.
deficit £20,000) on restricted fijnds. The unrestricted funds attheyear-end stood at£211,82412022'. £236,745} and
the restrirted fiJnds were nll (2021. £NID.
Resetrv￿ Pollry
The charty maintslns free re5erve5 to:
provlde a level of wortlng capttsl that protecrs the continuty of our core worl induding the costs
associated with the outreach and recruitment cycle for the next cohort of UKfellows.
provide a level of funding for uwected opportunitie
provéde coverfor rtsks such as unfo￿een expendtture or unantiapated105s of income.
Thetrustees have determinedthatfree reserves of the tharityshould cover8 mont￿% of central running costs and
the costs of the next OLrtreach and recruitment cycle. This amounts to £131,(KMJ.
Atthe year erKI the free reserves of the charity (unresthcted fund5 less amounts Invested In fixed assets) amount
to£210.59Q In the event of not beingableto raisefijture fundingthe current reswveswould bè used to complete
the current pr¢)gramme. and the recruitment for any fu￿re programmes would be delayed until further fiJnding
was secured. The trustees are satisfied the ILYd of reserves.
STRu￿URE. GOVERNANCE AND MANAGEMENT
Acumen Academy UKaowas incorporated on 23 September2019. The ao started to operate on 1 January2020.
Governlng document
The Charitable Incorpor*ed Organisatlon's governing document Is Its consrtuttlon dated 19 September 2019.
Page 2

fTheT
Appolntm•nt and Recruitment olTrustees
Other than the first charity trustees, every trustee must be appDinted for a term of three years by a resolution
passed as a property convened mÈetsng of the trustees. In selecting indMdua& for appointment as trustees. the
tharity ha5 regard to the sk411, knowledge and experience needed for the effectNe administration of the CIO.
Or8an15ational strurtur•
The Trustees hold quarterty Board Meetiry where key decisions around govemance are made and recorded in
the minutes. The day co day running of the tharity is dealtwith by the Programme Dlrettor.
Trustee Statement
In setting our objectives and planning our athttie& the trustees have glven careful consideration to the Charity
Cownmission guidance on public benefiL
10r2024
Approved by order of the board of ¢waees on .............-..-........-.....-.-...-.... and %gned on its behaw by
R Eastmond
Trustee
Page 3

Flnanclal Actlvlt
2023
2022
Total
Funds
Funds
Funds
Note
Income
Donations & legacies
Other tradlng actswtses
Investment Income- Interest receNed
171.000
327.783
400
236
Total Income
171605
328,019
Expenditure
Charitable attivities
197.526
2933n
294,549
Totsl Expendlture
197.526
2933n
294,549
Net {Expenditureylncome for the
year I net movement In funds
(24.921)
124921)
33,470
Fun(1 balances brought forward at
1 January 2023
236.745
236.745
203,275
Fund balances carrled for*Ard at
31 December 2023
11
211A24
211.8
236.745
The accompanying notes fomi part of these finandal sratements
Page 4

r Ended 31
2023
2022
Fixed A55ets
Tangible assets
2,348
Current Assets
Cash at bankand in hand
Debtors
244213
2Z1181
244,213
Creditors: Amounts falllng due vrithin
oneyear
10
9,816
Net CurrnntAssets
0¥4
234,397
Net Assets
211A24
236,745
Fund5
Restrlrted
Unrestrlrted
211￿
236,745
Totsl Funds
11
211A24
236,745
R Eastmond
Trustee
1(W2024
The accounts were approved bythe Trustees on.__._......_....................._............._....
The accomPan￿ng notes fom) part ofthese financial statements.
Page 5

to the Flnandal
ts forthe
r 2023
ACCOUPrnNG POLICIES
lal
Genwal Infornmtlon and basls of preparation
The charfrty is a r￿s￿ed tharity in England. The address of the principal office is given in the
charty inforrnation on page 1. The nature of the charity5 actmties are shown in the Report of
the Trustees.
The charity constitutes a public benefft entity as defined by FRS 102. The financlal ststements
hav¢ been prepared In accordance wrth Accounting and Rewrting by Charitie5: Statement of
Recommended Practice applicable to chartties preparing thebr accounts in accordance with the
Finanoal Reporting Standard applKable in the UK Republic of Ireland IFRS 1021 issued in
October 2019. the ￿nanCIal Reporting Stanéard applicable in the Unlte(l Kingdom and Republlc
of Ireland IFRS 102}. the ChaiitiesAtt2011 and UK Genera1tyk￿pted pract[￿ as Itapplles from
l January 2015.
The financial 5taternents have been prepared to and fairf view and have departe
from the Charities {Accounts and Report5) RegulatI￿s 2008 only to the extert required to
provide a true and fairvieW.This departure has invow followingthe Accounting and Reportlng
by Charities: Statsment of Recommended Practice applicable to charitie5 preparing their
accounts in accordance ￿th the Financtal Reporring Stsndard applicable in the UK and Republic
of Ireland (FRS 102 published in Occober 2019 rather than the accounting and Reporting by
Charitie& Statement of Reccxnmended Practice effeciwe from 1 April 2005 whlch has since been
withdrawn.
The financial statements are prepared on a wng ioncern basis under the historical cost
corwention. The charity currenty has sufficient reserve5 to continue In operation. The Trustee5
therefore believe that it is appropriate to prepare the finandal ststements on a going concern
basL%.
The finanthal statements A￿ prepared in sterting whith is the fvnaional currency of the charty,
rounded to the nearest L
The signrficant accounting polides applle(I In the preparation of these financial statements are
set out below. These policies have been consistenty applied to all years presented unless
Othe￿[Se stated.
(bl
Incom•
Item5 of Income are recognsed and included in the accounts when all the following criterla are
met-
The charity have en￿￿eme￿t0 thefunds.
Any perfom)ance condition5 attathed to the tterfs) of Inc¢xne have been met or are
fulty %%ithin the control of the charity.
There is suffKient ￿￿laIntytl￿t reteipt of the income is considered probable,. and
The amount can be measured rdiably.
Income from other trading artmtyes includes I￿Ome recognlsed as earned las the related
gc4Jds or serwces are pr￿ded) under contract. There is rTro netting off within the accounts.
Donations are credited to irKomeastheyarerecÈNed. Grat)ts receTved are recognlsed as Income
forthe period which they reL4te to.
Donated facllities are induded at the artual cosr orvalue to the charity. as described in Note 2.
Page 6

No
(c)
Expendlture
l expendlture ts accounted for on an accruals basis and is recognLsed On￿ there is a legal or
(or￿[rUtt￿e obligation to make a payment to a thlrd party, it is probable that settlementwll be
required and the amourt can be measured rdiabty. IrrecoverabloVATls induded in expenditure
againstthe relevant costforwhi£h the expenditurewds incurred. Expenditure is dassified under
the following headings:.
Charitable expenditure comprises tFw)se costs incurred bythe charw In the delNery of Its
arti￿tieS. It includes both costsvthichcan be direrttyallocated to attivities andthose costs
of an indirect nature.
Support costs are those funthons that a5Si5t the %wJrk of the charity but do not directty
undertake charitable artkntles. Supportcos15 indude back office costs. finan￿ personnel.
payroll and governance co
Govemance costs are those incurred in connettion with compliance ￿￿th consiitutsonal
and S￿tUtOry requirements.
Id)
Fixed Assets
Fvxed assets are stated at CO￿ I￿ accumulated depreciation. Assets costing less than £500 a
not capitalised.
Computer equipment is depreclated on a 3A straight line basi5 to write off each asset over its
estim*ed usefvl IWe.
(el
Debtors
Trade and other debtors wlrh no stated irterest rate and receivable wthln one year are
recognised at the transaction price.
If)
Cash at bank
Cash at bank and cash in hand indudes cash and shortterm hightyliquid investmentsmth a short
maturtry of three months or less from the date of acqui5itton or openlng of the deposit or similar
accounL
Creditor5
Creditors and provisions are recognised where the charity has a present obllgatlon resultingfrom
a past event that ¥MII probably result in the transfer of funds to a thlrd pary and the amount due
to settle the obligation be meawre(l or estirnated reliably. Creditors and pmM5ions are
nornialty recognised at their settlement amount
(hl
Fund a￿￿ntIng
General ￿ndS are unrestrirted fvn(ts are avaiLible for use atthe discretion of the trustees
in furrherance of thÈ general obJectNes of the charity and vthich have not been designated for
other wrpose
Restrirted funds are ftJn(ts *thi(h are to be used in accordance wth specific restrittions imposed
by donors or ￿th￿ch have been raised bythe tharity for particular putTr05e5. The c05t of raising
and administering the funds are charged against the spectflc fund. The alm and use of each
restritted fvnd is set out in the note5 to the financial statements.
Flnanclal Instrtftmnts
The charity onty has financial assets and finandal IL3bllldes of a kind thatqualify a5 ba5icfinancial
instwments. Basic finanoal I[￿ments are initslty recognised at transaction value and
sub5equenty measured at th￿rset￿emerrt Value.
o'i
Pension Costs
The charity operates a defined contribution pension scheme forthe benefit of tts employee5 and
contributions are charged to the SOFA in the year in which theyare made.
Page 7

nclal State
forthey
Ikl
Golng concern
The financial statewnents have been prepared on a golng concem basts a5 the trustees believe
that no material uncertainties e￿st The trustees have considered the level of fijnds held and
the expected level of income and expendtture for 12 rnonths from authorising these financial
statements. The budgeted income and expenditure is Sufficient with the level of reserves for the
charty to be able to contlnue as a going concern.
DONATIONS AND LEGACIES
2023
Restrlrted Vnre5trlrted
2023
Total
2022
Total
Garfield Westem
GiftAid
National Lottery Funding
Rank Foundation
Segelman Trust
J&C Stares
Sundry Donatlons
The D￿d Cock Foundation
Work Famity Strategic G￿ing Grant
Donated facilithes
31000
11500
40.￿0
60.wo
30,rx)o
5Q,000
3.283
50,000
50.000
60.OIKI
25.000
50.000
SD.000
50.000
171.0fy)
327,783
In 2022 £162,QKJO ofthe Income wa5 restricte(l and £165.783 was unrestrirted.
The charity uses office space provided by a trustee of the charrty free of charge. The valuatlon of the
donated facilities is an estimate based on the open marketvalue of similarfacolltye
OTHER TRADING AcfMTIES
2022
Workshop Income
400
Page 8

the Financlal Statements for
CHARITABLE AcnvmES
2022
Costs dlrectly allocated toactivitse
Salary costs
Pension costs
Programme delNery
Cohort outreach and sdettion
Acumen Programme Licence & support f
Direct consukancy
120.712
137.217
5,753
86,938
1433
29,313
11,330
91388
3204
271984
Support Costs allocated to actmtles
Advertising
Technology & Sor￿vare costs
General costs
Rent
Other Staff costs
Consultancy
Insurance
Bank Charges
Depreaation
Govemance costs (note 5}
&088
1.442
70
716
6.6
4A45
4,886
147
218
1.118
10.646
1.020
3.466
33.302
21.565
Total
293.372
294,549
In 2022 £182,[￿ of the expenditure was restricted and £111549 was unre5tr1rted.
GOVERNANCE Costs
2022
Accountancy
- independent examination
. other
1520
1.226
2,860
606
Legal fee5
10.646
3,466
TRUSTEE REMUNERATION AND EXPEP4SES
None of theTru5teesreceNedanyrernunerationfrom thecharity. No experse5were pald totheTrLLStees
during this year or the pr£wious year.
Page 9

Notes
31 DectmbÈr 20
EMPLOYEE INFORMATION
Staff costs are as follo￿.-
2022
Wages & salaries
National Insurance
Penslon costs
111f17
035
127A51
9,766
5,753
128.978
142,970
Thè number of emplow whose remuneration (exduding national Insurance contributions) exceeded
£60,000 was as follo￿-
2023
2022
70,001- 80,C
The average number of employees was:_
2023
2022
Direct
Key management personnel
The charty considers the Key Management Personnel to be the Twstees and the Programme Direttor.
The salary of the key management personnel (including ￿nSIOn contributions and employers National
Insurance amounts to £84,929.
TANGIBLE FIXED ASSErs
Computer
Equlpment
Total
Cost 1 January 2023
Addtrlons
4165
4.165
31 DKqrnb•r 2023
4165
4.165
Depre¢latlon
Brought forward
Charge foryear
1￿17
1.118
7￿17
1.118
At 31 December 2023
1935
1935
Net Book Value
31 December 2023
1.230
1230
Net Book Value
31 December 2022
2348
DEBTORS
2023
2022
Other debtor5
295
Page 10

to the Fl
ed 31 Dec
10
CREDITOR&" AMOUNTS FALLING DUEwmiiN ONE YEAR
2022
Trade credf(ors
AccTua15 and defe￿ed income
Social securrty and othertaxes
Other creditors
3.193
1850
70
3.100
6,273
373
3.140
11517
9,816
11
ANALYSIS OF CHARITABLE FUNDS
Balance
1 January Incomlng Resources
Resources Expended
Balance
31 December
2023
Unrestrlrted Funds
236.745
171605
1197,526)
211.824
Restrlrted Funds
Mitsubishi
National Lottery Funding
Garfeld Western
Sales Force
Rank Foundation
31CI)O
(3ZOOO}
(3N61
{60.OCNII
Totsl
(95.8461
Total funds
236.745 26&451
{293.372}
211.824
JI of the restricted funds were to set up the FdlovaS programme and to providethe training for the
2022 and 2023 cohort5.
12
ANALYSIS OF NEf ILSSEfs BEfwEEN FUNDS
Unrestrlrted
Funds
Re5tr1rtad
Funds
Total
Tangible F￿ed Assets
CurrentAssets
Uabilkles
1.230
223.181
1115871
223,181
11Z58n
211.824
211.824
13
PENSION cosrs
The charity operate5 a contributory pènsion stheme. It ￿ a defined contributions scheme and
Contributior￿ are charged tothe SOFAastheyare paid. The chargeforthe yearwas £8.26612022: £5.7531.
Page11

14
RELATED PARTY TJIANSACTIONS
Durlng the year the tharity receNed a £50,rx(I donation from Work Famity Strategic GNin& a fami
organisation in whtth one of the trustees Willtam Work is invofved in.
A trustee of the chartty. Rebecca Eas¢mond. pro￿deS office space to the tharity. wthout tharge. to the
value of £6,000 per annthn. She Is aly) a trustee In The Davld Cock Foundation and The Segelman Trust
both of which rnade donations to the charrtythisyear1£50,OCKI and£40,0(Kl respectNety). She also serves
on the Acumen Fund Inc global athsory board. fv£umen Academy UK is a regional affiliate of the Acumen
Fund Inc and Is licenced to adMin￿ertheAcUMen Fdlowship and Leadershlp programmes in the UL
Batool Hassan. a truste¢ held a senior pOS￿0Th. the Di￿ttor of Leadership. wthln Acumen Fund Inc.
Funding froml&C Stares of which John Stares is a member was also received this yeartotslling £25.000.
No other related patytransa(Dons ￿Cu￿ed during the year.
Page12

the TrnsteÈs
I report to the charttytrustees on my exarnination of the accounts of the CJ)arty for the year ended 31 December
2023 which are set out on pages 4 to 11.
Responslbllltles and basis of rnport
As the charltys trustees you are responsible for the preparation of the accounts In accordance with the
requirements of the Charities Act 2011 ftheAcn.
I report in respect of ry exaMIna￿On of yDur chariiys accounts as carried out undersectlon 145 of theAct and in
carrying out my examination I have followed all the applioble directions given ty the Charty Commission under
sectlon 1451Sllbl of the ACL
Independent examlnerfs statement
I have completed my examination. I conffimi that no matter5 have come to my attention in connectton with the
examination ￿Ing me cause to beliwe that in ary material resp
accounting records were not kept in respett of the charity as required by sectlon 130 of the *4¢ or
the accounts do not accord Vaith those ￿0rd¥ or
the accounts do not compty with the applicable requiremerts cDncerning the form and content of
accounts set out in the Charltles (Accounts and Report5) Regulations 2Crf)8 other than any requirement
that thè accounts give a 7rue and fair ￿e¥r vthich is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters In connection ￿ryththe exarnination to which attention
should bedrawn In thls report In orderto enable a proper understandingof the accounts to be reached.
J M Bennett FCA
Anderson Barrawclrff knmited
Chartered Accountsnts
3 Kingfisher Court
Bowesfield Park
Stockron on Tees
T518 3EX
15 OchJbe* 201
Pase13