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2024-09-30-accounts

CHARITY REGISTRATION NUMBER: 1195302

STRIVE ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

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LEGAL AND ADMINSTRATIVE INFORMATION

Trustees Ibrahim Mohammed (appointed 01/02/2024) Mahesh Varia Mohsin Patel Sakhee Rani Ganatra Charity Number 1195302 Registered office International House 44-45 Commercial Street London E1 6BD Independent examiner Rohit Maini Apex Accountancy Office Suite 134, Orega Serviced Offices 1st Floor, 4 Longwalk Road Stockley Park Uxbridge UB11 1FE

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CONTENTS

Page
Trustees report 1-3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Notes to the financial statements 7-11

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TRUSTEES REPORT

Trustees’ Annual Report for the year ending 30 September 2024 Charity name: STRIVE Charity registration number: 1195302

The trustees’ of STRIVE present their annual report and audited accounts for the year ending 30 September 2024 and confirm they comply with the requirements of the Charities Act 2011 and the Charities SORP (FRS 102).

History

STRIVE is an award-winning CIO working to pioneer diversity in City law.

Established in 2018 by Sana Shafi and Bertilla Chow, STRIVE emerged as an organisation for change in the legal sector with a shared desire to experience a more inclusive and diverse corporate environment.

STRIVE has been dedicated to enabling diversity and social mobility. We work to inspire our candidates to attain true social mobility, supporting them to prevail over the institutional odds stacked against them and to realise their potential in corporate careers. Our commitment to breaking down barriers and dismantling systemic obstacles has led to the successful empowerment of over 450+ socially mobile individuals, enabling them to secure coveted training contracts and vacation schemes at leading law firms across the globe.

Through our programmes, we have facilitated over 340+ training contract and vacation scheme offers by delivering over 3,600+ hours of mentoring to over 75+ socially mobile candidates.

Our Aims

We source and develop talent exclusively from diverse, socially mobile, and under-represented backgrounds through our membership and programmes. We aim to equip our members with the professional and interpersonal skills to secure and thrive in their legal career by way of mentoring, employment workshops and networking.

We provide these opportunities of training and development through our flagship programme (Supernova) and ad-hoc events and opportunities that run throughout the year. Through the variety of support and the resources that we offer, we deliver a holistic, structured and tailored experience for each member part of our programmes.

Our Objectives

Our objectives are set to reflect the ethos behind our work.

Our key objectives for the year included:

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STRIVE TRUSTEES REPORT

• Identify and research grant opportunities from governmental, philanthropic, and corporate sources and developing strong grant proposals that clearly articulate our goals, strategies and expected outcomes.

Achievements and Performance

Inaugural STRIVE Supernova Celebration

This year marked the first occurrence of the STRIVE Supernova celebration, thanks to our venue sponsor, Freshfields. This event served to celebrate the success of our associates and provided them with a platform to share their achievements, network with their fellow associates and STRIVE alumni, and engage with teams from Freshfields and our other sponsors.

shift()

We successfully hosted our third shift() hackathon, thanks to our venue sponsor, Freshfields Bruckhaus Deringer. This event provided an excellent platform for networking, pitching, and engaging with teams from Freshfields and other sponsors. Participants enjoyed a dynamic weekend filled with collaborative opportunities and innovative exchanges, further strengthening our community, support network and focus on Legaltech.

Workshop partnership with Birkbeck University of London

As part of our objective to collaborate with educational institutes, we successfully ran several of our award-winning workshops for students at Birkbeck University of London. This collaboration has been pivotal in realising our goal of widening accessibility to corporate law with a particular focus on candidates that attend and have attended non-Russell Group universities.

Workshop partnership with the Sutton Trust

This year, we were thrilled to partner with the Sutton Trust to deliver a series of workshops for their Careers Plus programme, an initiative designed to highlight the opportunities within commercial law to alumni of the Sutton Trust programmes.

Funding and Support from the Aziz Foundation

We are thrilled to have secured funding and support from the Aziz Foundation, a charity founded

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by Asif Aziz dedicated to democratising access to corporate careers and higher education for socially mobile and underrepresented candidates. This support is a testament to our shared vision and commitment to fostering greater inclusivity and opportunity within the corporate landscape. Since September 2023, we have onboarded a number of Aziz Foundation scholars to our flagship programme, Supernova.

Hiring a Part-Time Events and Partnerships Support

Thanks to the support and funding from the Aziz Foundation, we have now sourced a candidate for our part-time events and partnerships coordinator position. This role has been dedicated to supporting our events and partnership initiatives. This addition will enable us to scale our operations and expand our impact, furthering our mission to support socially mobile talent across the UK.

Financial Review

As a young CIO, STRIVE’s income since its inception has been raised through charitable activities, primarily sponsorships with City law firms. These funds have powered the charity’s growth, through funding overheads including SaaS subscriptions, salaries and in-person events. STRIVE has also made significant cost savings through operating fully remotely, benefitting from charity rates for subscriptions to SaaS platforms, and partnering with organisations and institutions which offer spaces to hold our in-person events.

Structure, Governance and Management

The trustees are responsible for the overall management and control of STRIVE and meet three to four times a year. The work of implementing their policies is carried out by the CEO, COO, CTO, Programme Manager and Operations Manager.

All trustees give of their time freely and no remuneration or expenses were paid in the year.

Organisational Management

The day to day running of STRIVE is delegated to the CEO, COO, CTO and Programme Manager of STRIVE.

The trustees report was approved by the board of trustees and signed on behalf of the board by:

................................Sakhee Ganatra Ibrahim Mohammed ................................ Date of approval .../.../...... 30 July 2025

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INDEPENDENT EXAMINER'S REPORT

I report to the trustees on my examination of the accounts of the above charity for the year ended 30 September 2024.

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 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 the examination which gives 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.

07 / 25 / 2025

Rohit Maini .../.../......

ICAEW Chartered Accountant

Apex Accountancy Office Suite 134, Orega Serviced Offices, 1st Floor, 4 Longwalk Road, Stockley Park, Uxbridge, UB11 1FE

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STATEMENT OF FINANCIAL ACTIVITIES

Incoming resources (Note 2)
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total
Resources expended (Note 3)
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income/(expenditure)
Extraordinary items
Transfers between funds
Other recognised gains/(losses):
Other gains/(losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Gains and losses on revaluation
of fixed assets		 Unrestricted
funds
Restricted
funds
Total funds
Prior year
funds
£
£
£
£
16,098
-
16,098
5,739
36,500
-
36,500
55,988
-
-
-
-
-
-
-
-
52,599
-
52,599
61,727
-
-
-
-
42,500
-
42,500
34,567
-
-
-
-
42,500
-
42,500
34,567
10,099
-
10,099
27,160
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,099
-
10,099
27,160
24,203
-
24,203
(2,956)
34,302
-
34,302
24,203

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STATEMENT OF FINANCIAL POSITION

Fixed assets
Tangible assets (Note 8)		 Unrestricted
funds
Restricted
funds
Total this year Total last year
£
£
£
£
346
-
346
415
Total fixed assets 346
-
346
415
Current assets
Debtors (Note 9)
Cash at bank and in hand (Note 11)		 18,800
-
18,800
547
35,581
-
35,581
24,395
Total current assets 54,381
-
54,381
24,942
Creditors: amounts falling due within
one year (Note 10)		 20,425
-
20,425
1,154
Net current assets/(liabilities) 33,956
-
33,956
32,497
Total assets less current liabilities 34,302
-
34,302
24,203
Provisions for liabilities
Creditors: amounts falling due after one
year (Note 10)		 -
-
-
-
-
-
-
-
Total net assets or liabilities 34,302
-
34,302
24,203
Funds of the Charity
Endowment funds
Restricted income funds
Unrestricted funds
Revaluation reserve		 -
-
-
-
-
-
-
-
34,302
-
34,302
24,203
-
-
-
-
Total funds 34,302
-
34,302
24,203

The financial statement were approved by the trustees and signed on behalf of the board by:

Sakhee Ganatra Ibrahim Mohammed…......................

…......................

Date of approval …/…/…... 30 July 2025

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NOTES TO THE FINANCIAL STATEMENTS

Note 1 Accounting policies

Note 1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Note 1.2 Going concern

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 a going concern basis of accounting in preparing the financial statements.

Note 1.3 Recognition of income

Incoming resources are included in the Statement of Financial Activities (SoFA) when:

Note 1.4 Liabilities

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Note 1.5 Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

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NOTES TO THE FINANCIAL STATEMENTS

Note 1.6 Deferred income

No material item of deferred income has been included in the accounts.

Note 1.7 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts

Note 1.8 Tangible fixed assets

Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £150.

They are valued at cost.

The depreciation rates and methods used are 25% straight line basis.

Note 1.9 Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

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NOTES TO THE FINANCIAL STATEMENTS

Note 2
Analysis of income
Donations and legacies:
Donations and gifts
Total
Charitable activities:
Sponsorship and commissions
Total
Income from investments:
Total
TOTAL INCOME
Note 3
Analysis of expenditure
Expenditure on charitable activities:
Marketing
Employee Costs
Travelling
Hotels
Subsistence
Computer & Software
Printing, Postage & Stationery
Insurance
Total expenditure on charitable activities
Note 4
Support costs
Accountancy
Independent examination
Legal and professional
Bank Charges and Interest
Depreciation
Total
Allocated between:
Charitable activities		 Unrestricted
funds
Total funds
Prior year
£
£
£
16,098
16,098
5,739
16,098
16,098
5,739
36,500
36,500
55,988
36,500
36,500
55,988
-
-
-
52,599
52,599
61,727
Unrestricted
funds
Total funds
Unrestricted
funds
Total funds
-
-
2,267
2,267
39,059
39,059
25,862
25,862
526
526
595
595
308
308
-
-
-
-
58
58
1,450
1,450
4,478
4,478
104
104
78
78
96
96
96
96
41,543
41,543
33,435
33,435
Support costs
Governance
costs
Support costs
Governance
costs
-
600
-
700
-
60
-
50
204
-
270
-
24
-
43
-
69
-
69
-
297
660
382
750
297
660
382
750
This year
Prior year
This year
Prior year

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NOTES TO THE FINANCIAL STATEMENTS

Note 5 Details of certain types of expenditure

Note 10.1 Fees for examination of the accounts

Independent examiner’s fees
Note 6
Employees
Note 6.1
Staff costs
Salaries and wages
Social security costs
Pension costs (defined contribution scheme)
Other employee benefits
Total staff costs
Other fees (for example: financial advice, consultancy, accountancy services)
paid to the independent examiner		 This year
Prior year
£
£
60
50
-
-
60
50
This year
Prior year
£
£
38,159
24,902
-
-
900
960
-
-
39,059
25,862

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

Note 6.2 Key management personnel

Note 6.3
Average number of employees
Average number of employees across the charity within the year
The total amount paid to key management personnel (includes trustees and
senior management) for their services to the charity. For specific amounts
paid to trustees, see Note 7.		 This year
Prior year
£
£
-
3,019
This year
Prior year
2
4

Note 7 Trustees

During the year the trustees were not paid remunerations of any kind for their services, nor did the charity incur and expenses on their behalf in the performance of their duties.

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NOTES TO THE FINANCIAL STATEMENTS

Note 8
Tangible fixed assets
Filming
equipment
Total
Cost or valuation
At the beginning of the year
554
554
Additions
-
-
At end of the year
554
554
Depreciation and impairments
At beginning of the year
138
138
Depreciation
69
69
At end of the year
208
208
Net book value
At beginning of the year
415
415
At end of the year
346
346
Note 9
Debtors
This year
Prior year
£
£
Trade debtors
18,800
-
Prepayments and accrued income
-
-
Other debtors
-
547
Total
18,800
547
Note 10
Creditors
This year
Prior year
£
£
Trade creditors
13
-
Accruals and deferred income
17,660
896
Taxation and social security
2,752
258
Other creditors
-
-
Total
20,425
1,154
Note 11
Cash at bank and in hand
Short term cash investments (less than 3 months maturity date)
Short term deposits
Cash at bank and on hand
Other
Total
Amounts falling due within
one year
11		 This year
Prior year
£
£
-
-
-
-
-
-
-
-
-
-
This year
Prior year
£
£
-
-
-
-
35,581
24,395
-
-
35,581
24,395
Amounts falling due after
more than one year

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