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2024-03-31-accounts

The CyberHub Trust

Annual Report & Financial Statements

for the year ended 31 March 2024

Index:

Reference and Administrative Details ……………………………………………………… 3
Trustees' Report ……………………………………………………… 4
Independent Examiner's Report ……………………………………………………… 6
Statement of Financial Activities ……………………………………………………… 8
Balance Sheet ……………………………………………………… 10
Notes to the Financial Statements ……………………………………………………… 11
Appendix ……………………………………………………… 16

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Reference and Administrative Details

Trustees

Ms Julia von Klonowski (Chair) Digital Skills Consulting Ms Ruth Gilbert Career Colleges Trust Mr Amit Patel Experience Haus Mr Joash Howard Amazon Mr John Pittaway Retired (AWS)

Special Advisors

National Crime Agency (NCA) National Cyber Security Centre (NCSC)

Principal Office

The CyberHub Trust 26 Queen Victoria Street Reading RG1 1TG United Kingdom

Charity Registration Number

Reg. No. 1190988

Bankers

Hannah Jones Client Support Manager HSBC Bank 120 Edmund Street Birmingham B3 2QZ

Accountants

Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

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Trustees Report

The Trustees present their report with the Financial Statements of the charity, for the year ended 31 March 2024. They have adopted the provisions of 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

Objectives and aims:

The primary purpose of the Trust is to promote education and training of Digital Technology (DigiTech) & Cyber, facilitate a pipeline of well-trained, qualified and experienced young people and to identify 'at-risk' technically capable young people and encourage them to become productive members of society.

Significant Activities:

The CyberHub Trust is advised by the National Crime Agency (NCA) and National Cyber Security Centre (NCSC) and managed by the Board of Trustees. It operates within Further Education Colleges and Institutes of Technology (IoT) across the UK.

It relies on experts & specialists in DigiTech & Cyber, to deliver training, education and apprenticeships, and to assist with Community Outreach Programmes.

Strategy:

The management of the Trust are continually reviewing and adapting the Strategy, according to developments and feedback from colleges, students and other stakeholders. During the year to March 2024 the Trust focused on Community Outreach activities, including Roadshows & Events.

Sites:

By end-March 2024 the Trust had five operational sites, including Barking & Dagenham College (IoT) in London, Birmingham Metropolitan College , Hugh Baird College in Liverpool, City College Plymouth and Coleg Gwent in Newport Wales.

The Trust continues to engage with other colleges who are interested in becoming CyberHub Colleges, including Milton Keynes College (South Central IoT), Tameside College in Manchester, and others.

Events:

One of the key areas of focus is the delivery of Community Outreach activities. An innovation in 2023, the Trust initiated a series of events packaged-up as a `Roadshow’ around the UK.

The Trust invited Hollywood scriptwriter, filmmaker & Executive Producer Kristin Ellingson to visit the UK - to share her experience and highlight careers in Digital Technology, Film and Gaming.

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Sponsorship:

During 2023 it became clear that the Trust had fallen victim to the after-effects of the Tech company contraction, in the wake of over-investment during COVID-19 by large Tech companies. This resulted in the termination of the sponsorship from AWS, previously the key source of income for the Trust.

It is little comfort, but the same problems have been faced by numerous other charities, businesses and partners of large Tech companies.

The CyberHub Trust therefore embarked on a determined campaign to generate new sources of income, including sponsorship (e.g. working with the Media Agency Wavemaker , and CIS Security and Tech companies like AXON and TCS ), and applying for Grant income (e.g. applying to DSIT, CyberFirst and other key sponsors in this field.

Signage:

One way of engaging with students is using unique signage - highlighting career opportunities in DigiTech & Cyber. The signage incorporates `real’ students from the colleges, focusing attention on opportunities in DigiTech and Cyber.

Colleges that already boast their own unique CyberHub signage include Birmingham Metropolitan College , Hugh Baird College , and Coleg Gwent .

Some Signage Examples below:

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FINANCIAL REVIEW

Financial Position:

The closing fund balance on the 31 March 2024 was £51,413 (2023 - £116,527).

Trustees oversee expenditure in accordance with the agreed parameters and they have specifically authorised a basic stipend to compensate the CEO for his management and other duties, and also cover reasonable expenses for the Chair and CEO, who do the majority of the work of the charity.

The Trust is not registered for VAT and, as such, no VAT liability existed.

Reserves Policy:

The Trustees recognise that it is very important for the Trust to have sufficient reserves in the future to continue its objectives. This will be to ensure that there are funds available to meet the commitments of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution and Governance:

The CyberHub Trust is a CIO `in association' with a constitution, which amongst other things governs the recruitment/appointment of new Trustees, who are responsible for the strategic management of the CyberHub Trust.

Management structure:

The Trust is managed by a CEO, with assistance from paid contractors (website design & administration, PR & Communications, videography, etc.) and voluntary stakeholders (e.g. marketing agencies assisting with the Trust's projects, RCCU teams, Wavemaker, etc.).

Decision making:

Trustees have been consulted on the details in the Annual Report and discussed & debated in the regular Trustees Meetings (recorded in the minutes) to ensure that the Report matches with the Trust's Mission.

Risk Assessment:

The CEO and Trustees assess major risks facing the Trust and address them in accordance with agreed processes. In 2023 the Trustees agreed to focus activities on its Community Outreach activity, which significantly removed the previous key risk (working with Service Providers to manage real-world `Security Operations Centres' in FE Colleges/IoTs).

The Trust broadened its engagement with Cybersecurity and related Service Providers, including the Film & Gaming company MetaLVX in Los Angeles, Tech specialists TCS & AXON, and other organisations.

The Trustees also acknowledged that the removal of the AWS sponsorship funds would put pressure on delivery in the coming year/s, so formally agreed to pursue other sponsorship opportunities during 2023 & 2024.

In the year ended 31 March 2024, the Management & Trustees continued to focus attention on growing the charity - its footprint and reputation, as well as continuing to grow the number & types of activities.

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These included:

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees 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, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

This Annual Report was approved by the CyberHub Board of Trustees on the and signed on 28/11/2024 its behalf by:

Julia Von Klonowski

Julia Von Klonowski (Nov 28, 2024 13:00 GMT)

Julia von Klonowski

Chair of Trustees

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CYBERHUB TRUST

Independent examiner's report to the trustees of The Cyberhub Trust

I report to the charity trustees on my examination of the accounts of The Cyberhub Trust ('the CIO') for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the CIO 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 CIO's accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my 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 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 in order to enable a proper understanding of the accounts to be reached.

J Pyke FCA The Institute of Chartered Accountants in England and Wales

Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

28/11/2024 Date: .............................................

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STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
3
Charitable activities
Total
EXPENDITURE ON
Charitable activities
4
Other
-
Total
NET INCOME (EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
-
TOTAL FUNDS CARRIED FORWARD		 31.03.24
Unrestricted
Fund
£
-
-
-
33,599
31,575
65,174
(65,174)
116,527
______
51,353		 31.03.23
Total
Funds
£
1,000
131,500
132,500
31,636
21,767
53,403
79,097
37,430
_
116,527



_

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BALANCE SHEET

31 MARCH 2024

Notes
CURRENT ASSETS
Debtors
8
Cash at Bank
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
10
Unrestricted Funds
TOTAL FUNDS		 31.03.24
Unrestricted
Fund
£
-
55,664
55,664
(4,311)
_
51,353
51,353
_
51,353
51,353
51,353		 31.03.23
Total
Funds
£
2,500
116,756
119,256
( 2,729)
__
116,527
116,527
_
116,527
116,527
116,527

The financial statements were approved by the Board of Trustees and authorised for issue on 28/11/2024 and were signed on its behalf by :

Julia Von Klonowski

Julia Von Klonowski (Nov 28, 2024 13:00 GMT)

Julia von Klonowski Chair of Trustees

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

The CyberHub Trust is a Charitable Incorporated Organisation registered with the Charity Commission in England & Wales. The registration and principal office address can be found on the reference and administrative details page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102 , have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS 102 ) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011 . The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024

3. INCOME FROM CHARITABLE ACTIVITIES

Grants
Charitable activities
4.
CHARITABLE ACTIVITIES COSTS
Advertising
Travelling and Subsistence
Consultancy
Information Technology
Other
5.
SUPPORT COSTS
Management and administration
Accountancy		 31.03.24
£
-
31.03.24
£
12,182
15,276
3.250
2,525
366
33,599
31.03.24
£
30,000
1,575
31,575		 31.03.23
£
131,500
31.03.23
£
18,756
10,551
-
1,653
676
31,636
31.03.23
£
20,000
1,797
21,767

6. TRUSTEES’ REMUNERATION AND BENEFITS

There were no Trustees’ remuneration or other benefits for the year ended 31 March 2024, nor for the year ended 31 March 2023.

Trustees’ Expenses

Julia Klonowski was reimbursed £3,458 (2023 - £3,994) out of pocket expenses for travelling and subsistence.

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NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donation and Legacies
Charitable activities
Charitable activities
Total:
EXPENDITURE ON
Charitable activities
Other
Total:
NET INCOME
RECONCILLIATION OF FUNDS
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade Debtors
9.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade Creditors
Other Creditors		 Unrestricted
Fund
£
1,000
131,500
132,500
31,636
21,767
53,403
79,097
______
37,430
116,527
31.03.24
£
-
31.03.24
£
1.050
3,261
4,311		 31.03.23
£
2,500
31.03.23
£
250
2,479
2,729

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NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024

10.
MOVEMENT IN FUNDS
At
Net
01.04.23
Movement
in funds
£
£
Unrestricted Funds
General Fund
116,527
(65,174)
__
TOTAL FUNDS
116,527
(65,174)
Net movement in funds, including in the above are as follows:
Incoming
Resources
Resources
Expended
£
£
Unrestricted Funds
General Fund
-
(65,174)
_
_
TOTAL FUNDS
-
(65,174)
Comparatives for Movement in Funds
At
Net
01.04.22
Movement
in funds
£
£
Unrestricted Funds
General Fund
37,430
79,097
__
_
TOTAL FUNDS
37,430
79,097
Comparative net movement in funds, included in above are as follows:
Incoming
Resources
Resources
Expended
£
£
Unrestricted Funds
General Fund
132,500
(53,403)

_ __
TOTAL FUNDS
132,500
(53,403)		 At
31.03.24
£
51,353
__
51,353
Movement
in funds
£
(65,174)
_
(65,174)
At
31.03.23
£
116,527

116,527
Movement
in funds
£
79,097
___
79,097

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted Funds
General Fund
TOTAL FUNDS		 At
01.04.22
£
37,430
_____
37,430		 Net
Movement
in funds
£
13,923
______
13,923		 At
31.03.24
£
51,353
______
51,353

A current year 12 months and prior year 12 months combined net movement in funds, included in the above as follows:

Unrestricted Funds
General Fund
TOTAL FUNDS		 Incoming
Resources
£
132,500
_
132,500		 Resources
Expended
£
(118,577)
__
(118,577)		 Movement
in funds
£
13,923
______
13,923

11. RELATED PARTY DISCLOSURES

Michael Klonowski

The CEO, Michael Klonowski, was reimbursed £8,466 (2023 - £9,415) out of pocket expenses for travelling and subsistence.

Digital Consulting Limited

Digital Skills Consulting Limited is a company controlled by Michael and Julia Klonowski. During the year, the charity paid the company £30,000 (2023 - £20,000) for management and administration services.

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Appendix

AWS Amazon Web Services
AXON AXON (Protect Life)
BDC Barking & Dagenham College
BIT Group Bluescreen IT Ltd. (incl. BIT Training)
BMET Birmingham Metropolitan College
CCP City College Plymouth
CEO Chief Executive Officer
CIO Charitable Incorporated Organisation
DigiTech Digital Technology
DSIT Department for Science, Innovation and Technology
ELIoT East London Institute of Technology
FE Further Education (Colleges)
HBC Hugh Baird College (Liverpool)
IoT Institute of Technology
MK Milton Keynes College
NCA National Crime Agency
NCSC National Cyber Security Centre
RCCU Regional Cyber Crime Unit
SCIoT South Central Institute of Technology
SOC Security Operations Centre
SORP Statement of Recommended Practice (Charities)
TCS Tata Consultancy Services
UX User Experience
VAT Value Added Tax
WM-RCCU West Midlands Regional Cyber Crime Unit

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The Cyberhub Trust 26 Queen Victoria Street Reading RG1 1TG

Vale & West Victoria House 26 Queen Victoria Street Reading RG1 1TG

Dear Sirs

During the course of your independent examination of the financial statements of the charitable incorporated organisation for the year ended 31 March 2024, the following representations were made to you by management and the trustees.

  1. We have fulfilled our responsibilities as trustees under the Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework, that give a true and fair view and for making accurate representations to you.

  2. We confirm that all accounting records have been made available to you for the purpose of your independent examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charitable trust have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you. We have given you unrestricted access to persons within the charitable trust in order to obtain evidence and have provided any additional information that you have requested for the purposes of your examination.

  3. We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.

  4. We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the independent examiner and accounted for and disclosed in accordance with the applicable financial reporting framework.

  5. We confirm that there had been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.

  6. We confirm that we are aware that a related party of the charitable trust is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charitable trust or vice versa and as a result will include trustees, other key management, close family and other business interests of the previous. We confirm that we are not aware of any further related parties or transactions, other than those disclosed in the financial statements.

  7. We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.

  8. We confirm that the charitable trust has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for trustees, nor to guarantee nor provide security for such matters.

  9. We confirm that the charitable trust has not contracted for any capital expenditure other than as disclosed in the financial statements.

  10. We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the charitable trust conducts its activities and which are central to the charitable trust’s ability to conduct its activities.

  11. We acknowledge our responsibility for the design and implementation of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our own risk assessment that the financial statements may be misstated as a result of fraud.

  12. We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former trustees, employees, regulators or others.

  13. We confirm that, having considered our expectations and intentions for the next 12 months and the availability of unrestricted reserves, the charitable trust is a going concern.

  14. We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.

  15. We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.

  16. We acknowledge our legal responsibilities regarding disclosure of information to you as independent examiners and confirm that:

  17. so far as each trustee is aware, there is no relevant audit information of which you as independent examiners are unaware; and

  18. each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that you are aware of that information.

We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate of supporting documentation) sufficient to satisfy us that we can properly make each of the above representations to you and that to the best of our knowledge and belief they accurately reflect the representations made to you by the trustees during the course of your audit.

Yours faithfully

Julia Von Klonowski

Julia Von Klonowski (Nov 28, 2024 13:00 GMT)

J Klonowski - Trustee Signed on behalf of the board of trustees:

Date.................................................................. 28/11/2024

2024 Accounts Approval - The Cyberhub Trust

Final Audit Report

2024-11-28

Created: 2024-11-27 By: Elaine Bukiej (ebukiej@valewest.com) Status: Signed Transaction ID: CBJCHBCAABAAmmUKnSFfyMWE8WwKcjgsLONNQrmhvWs5

"2024 Accounts Approval - The Cyberhub Trust" History

Document created by Elaine Bukiej (ebukiej@valewest.com)

2024-11-27 - 9:53:04 AM GMT

Document emailed to Julia Von Klonowski (julia.von.klonowski@digitalskills.consulting) for signature 2024-11-27 - 9:56:21 AM GMT

Email viewed by Julia Von Klonowski (julia.von.klonowski@digitalskills.consulting) 2024-11-28 - 12:38:25 PM GMT

Document e-signed by Julia Von Klonowski (julia.von.klonowski@digitalskills.consulting) Signature Date: 2024-11-28 - 1:00:10 PM GMT - Time Source: server

Document emailed to jpyke@valewest.com for signature 2024-11-28 - 1:00:13 PM GMT

Email viewed by jpyke@valewest.com 2024-11-28 - 1:17:29 PM GMT

Signer jpyke@valewest.com entered name at signing as Jason Pyke FCA 2024-11-28 - 1:17:54 PM GMT

Document e-signed by Jason Pyke FCA (jpyke@valewest.com) Signature Date: 2024-11-28 - 1:17:56 PM GMT - Time Source: server

Agreement completed.

2024-11-28 - 1:17:56 PM GMT