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2022-12-31-accounts

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

ANNUAL REPORT 2022

Report and Financial Statements For the year to 31 December 2022

Charity number: 1196829 Company number: 13052579

www.astrafoundation.co.uk

Docusign EnvÈlope ID." CB83SAE54F3742A2-9c34-3F47E4￿C4oB

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation

(A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Contents

Contents
Reference and administrative details of the Foundation, its Trustees and advisers 2
Trustees' report 3 - 10
Independent auditor's report on the financial statements 11 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 24
Appendix: Grants Approved in 2022 25

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DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee) Report of the Trustees for the year ended 31 December 2022

Reference and Administrative information
Charity name: The Astra Foundation
Charity registration number: 1196829
Company registration number: 13052579
Registered Office: 4th Floor Silverstream House
45 Fitzroy Street
London W1T 6EB
Operational address: 2nd floor, 18-19 Pall Mall
London SW1Y 5LU
Trustees: Ms E de Kergorlay (Founder and Chair)
Ms V Newman
Payne Hicks Beach Trust Corporation Limited*
Resigned 1 February 2023
Ms K Francey
Appointed 21 September 2022
Foundation Manager: Ms S Hale
Independent Auditors: UHY Kent LLP t/a UHY Hacker Young
Thames House, Roman Square
Sittingbourne
Kent ME10 4BJ
Bankers: SG Kleinwort Hambros Bank Limited
5th floor, 8 St James’s Square
London SW1Y 4JU
Solicitors: Payne Hicks Beach LLP
10 New Square
Lincoln’s Inn
London WC2A 3QG

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DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Trustees’ Report for the year ended 31 December 2022

This report serves the purposes of both a Trustees’ report and a directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Structure, Governance and Management

The Astra Foundation is a charitable company limited by guarantee, incorporated on 1 December 2020 and registered as a charity on 29 November 2021. The Foundation is managed by a Board of Trustees. The minimum number of Trustees shall be three but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum. Upon appointment, Trustees are required to familiarise themselves with Charity Commission and HMRC guidance relating to charitable organisations, “The Essential Trustee” and payments by charities to overseas bodies. The Trustees are also expected to understand and apply the Astra Foundation’s policies and procedures.

The Board of Trustees delegate the day-to-day management of the Astra Foundation to the Foundation Manager.

Remuneration is reviewed annually by the Trustees, who consider external market conditions, such as inflation, cost of living awards in other sectors, and the cost as a proportion of overall expenditure, as part of its decision-making.

Objectives and Activities

The Charity's objects ("Objects") are specifically restricted to the advancement of such charitable purposes (according to the law of England and Wales) as the Directors see fit from time to time. The Astra Foundation's mission is to advance three initiatives to benefit the public in furtherance of the Charity's general charitable purposes: (i) the combating of loneliness in young adults; (ii) empowering youth to reach their potential regardless of their current circumstances; and (iii) combating environmental pollution, particularly from plastic waste. The Charity makes grants to other charitable organisations in the UK and in other territories which deliver projects addressing these three initiatives for public benefit. Exceptionally, in 2022 the Charity also responded to the Russian invasion of Ukraine and disbursed funds and resources towards supporting Ukrainian nationals via emergency support.

Fundraising

The Foundation does not raise funds from the public and therefore has not subscribed to any fundraising standards or scheme for fundraising regulation.

Our Goals

The goals of the Foundation are to

  1. Establish a theory of change in each programme area, and implement a grant-making plan to effect change and measure the impact and application of the Foundation's grants.

  2. Implement change by

  3. a. Supporting the evidence base and encouraging systemic change through policy work

  4. b. Supporting direct-impact interventions that closely fit the priority areas

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

  1. Establish and promote the Foundation as a thought leader in the programme areas and a positive influence for change in our priority areas.

Our priorities

Loneliness and Isolation Among Young Adults: The Foundation supports organisations that are working to identify and implement both policy change and large-scale programmatic work. The Foundation also supports direct-impact organisations working directly with affected groups that show promising approaches to addressing loneliness and isolation among young adults.

Youth Empowerment: The Astra Foundation's grants focus on programmes that use innovative and proven strategies to give youth the life skills, vocational training, and confidence needed to overcome such barriers. Our theory of change is that preparing young people for the challenges they will face in life is key to their success in reaching their full potential. The Foundation supports key interventions that are more targeted rather than open access to best support young people’s needs and the context of their circumstances.

Plastic Pollution: The goal of the Foundation's work is to reduce the amount of plastic that society produces and consumes. We believe the best way to reduce plastic pollution is to reduce the amount of plastic that enters the consumer market - we cannot recycle our way out of the crisis. The Foundation supports systemic advocacy and policy change work, and initiatives to phase out single-use plastics and to place extended producer responsibility (EPR) on plastic producers.

Achievements and Performance

As a recently established grantmaker, the analysis of our portfolio and the Foundation’s impact will evolve with our learning. We aim to ensure that our processes are timely and easy to navigate for our partners.

A full list of grants awarded is appended to the end of this report.

YOUTH LONELINESS

Our partners who work on loneliness and connection faced significant challenges in 2022 due to the political environment. Advocacy and collaboration with policymakers were critical components of their efforts, but the frequent changes in ministerial positions within the UK government made progress difficult. Despite these obstacles, our partners persevered in their mission to promote social connection and combat loneliness. During this turmoil, we facilitated discussions between key actors at Astra’s office to create space for collaboration and discussion. In 2022, The Astra Foundation added three grants to its portfolio under this priority. We supported the first ever Mental Health Match Fund, run by The Big Give with a grant of £78,750 . The Big Give raised and disbursed £316,000 to seven organisations tackling mental health and wellbeing. Alongside Spirit of 2012, we supported The

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The Astra Foundation (A company limited by guarantee) Report of the Trustees for the year ended 31 December 2022

Relationships Project with £5,000 to hold a retreat for leaders in loneliness and connection fields in the summer of 2023. This is in recognition of the power of networks and the people within them to work together, map the landscape and find opportunities to share knowledge and collaborate. Finally, we collaborated with the Unite Foundation and Dulverton Trust to help build the evidence base for strategic financial support for care-experienced or estranged students at university. Evidence from the Higher Education Policy Institute in 2022 found that 23% of students said they felt lonely “most” or “all of the time” in 2021, compared with 5% of adults who reported feeling lonely “often” or “always”.

YOUTH EMPOWERMENT

According to the ONS, an estimated 11.5% of all people aged 16 to 24 years in the UK were not in education, employment or training (NEET) from October to December 2022. Young people from less advantaged backgrounds are 50% more likely to be NEET than their similarly qualified but better-off peers. Therefore, attainment alone isn’t enough - greater support is needed to access the next steps. In 2022 the Foundation awarded £225,000 over three years to the Screen Academy Foundation , targeting young people to access the creative industries. Internationally, the Foundation awarded $42,020 to Direct Impact Africa and Trustees awarded continuation funding of €158,000 to support two promising tennis players at Mouratoglou Academy .

Grantee Spotlight: Screen Academy Foundation

(Photo credit: LSA)

The UK's screen industries are thriving, with one in every 11 jobs in the country being in the creative economy. Furthermore, 87% of these roles are deemed 'future-proof', meaning they are at low risk of being automated. However, the industry is struggling with a lack of skilled staff to meet demand and is lacking in diversity. To tackle this, the London Screen Academy was founded by industry experts to nurture the next generation of storytellers. This

specialist sixth form offers students unique opportunities to learn from and network with industry professionals through masterclasses, mentoring, work experience, and an alumni programme. These engagement opportunities break down barriers that prevent people from all backgrounds from accessing the industry. The academy is proactive in its outreach and ultimately aims for the student body to be 50% from under-represented ethnic groups and 25% eligible for free school meals. With two alumni cohorts to date, 72% of alumni are in an industry-related ‘next step’ such as working in the film and TV industries or undertaking higher or further education linked to the sector. With diversity built into the design and ethos of the academy, it is at the start of building a step-change in the creative industries to empower, accept and embrace the talent on offer from all backgrounds. The Astra Foundation awarded an unrestricted grant of £225,000 over three years to the academy's charity, the Screen Academy Foundation , to support the objectives of the Academy.

PLASTIC POLLUTION

In March 2022, the United Nations Environmental Assembly adopted a resolution, backed by 175 countries, to work towards a legally binding global agreement to end plastic pollution. This presents a one-time-only opportunity to halt plastic waste and achieve the necessary level of speed and scale required to deliver a full global circular economy for plastics. One of the key organisations that campaigned for a treaty since 2020 was the Ellen MacArthur Foundation .

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Grantee Spotlight: Ellen MacArthur Foundation

In 2022, The Astra Foundation awarded its largest grant, £525,000 over three years, towards the Ellen MacArthur Foundation (EMF) in support of their work with the World Wildlife Fund driving a united collaboration of leading businesses and NGOs calling for governments to adopt a strong and ambitious treaty to end plastic pollution. In the 2010s, EMF cemented its position and strong reputation as an expert in circularity and as a nexus between businesses and policy. The UN Treaty presents an incredible opportunity for EMF and partners to continue their work in engaging businesses to adapt and encourage enforceable national and transnational policies. The Business Coalition was launched at a high profile event in New York on 21st September 2022, timed to coincide with the United Nations General Assembly (UNGA) and Climate Week. Membership includes 68 organisations, and 250+ more have expressed an interest in joining. The vision put forward by the Business Coalition was welcomed by a coalition of over 30 ambitious government ministers at the Intergovernmental Negotiating Committee meeting in Uruguay in November 2022. The next two years will be pivotal to shape a treaty that covers the whole lifecycle of plastic. The key messages put forward by the Business Coalition are:

EMERGENCY SUPPORT

Exceptionally, Trustees approved the purchase of donations gifted to the Support Ukraine Coordination Hub on 15 March 2022, 19 days after Russia’s invasion on 24 February. In May 2022, the Foundation’s support pivoted to evacuees arriving in London, specifically children and young people attending St Mary’s Ukrainian School , and their families.

Grantee Spotlight: Support Ukraine Coordination Hub and St Mary’s Ukrainian School

Within days of the invasion, Astra’s Chair visited the Ukrainian Social Club in Holland Park, London to see how we could help. We befriended the core volunteers who created the Support Ukraine Coordination Hub who were rallying donations to send to Ukraine, using the intelligence of City Councils to get items to where they were most needed. At its peak, the Hub was shipping 40 tonnes per week into Ukraine and reaching areas other NGOs couldn’t. From March to June, we donated

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

£104,000 of dry food, nappies, baby milk, toiletries and batteries. Hub volunteers developed professional logistic operations with pro bono help from aid organisations. In addition to the financial support the Foundation provided, key capacity was also given to support the core team's needs, including two free nursery places and fixtures and fittings for the aid warehouse.

In March 2022, the UK government announced two schemes through which people displaced from Ukraine (and their family members) can obtain a visa to come to the UK. An estimated 161,400 Ukrainians have arrived as of February 2023 (British Red Cross). St Mary’s Ukrainian School is a supplementary school for the Ukrainian diaspora run from the premises of the social club. New arrivals turned to the Hub and School for welfare, housing and financial support, and parents seeking support for their children to settle into their new life. Sadly, it was also evident that many children and young people were arriving with trauma. Before 2022, the school catered for approximately 250 children of Ukrainian descent living in London, staffed predominantly by volunteers. By August, over 500 new children had registered, with a growing total of 1,000 anticipated for the following academic year. To accommodate the growing number of students, the school expanded to three additional premises. 75% of the new faculty recruited were displaced teachers from Ukraine. The expanded curriculum covers Ukrainian language, literature, history and geography. This enables senior students to work towards their Ukrainian school leavers’ exams while integrating into the UK education system. Holiday clubs were developed to support the children’s transition to life in the UK, to learn English, and importantly, to have fun! The Astra Foundation supported the school with £66,000 to run holiday clubs, 725 donated SIM cards for evacuee family members, travel for trips outside of London, and connections to London museums and galleries for day trips. (Photo credits: Support Ukraine Coordination Hub and St Mary’s Ukrainian School)

Grantmaking Policy

We do not accept unsolicited applications. Our proactive approach allows us to use our time and resources to build strong partnerships with our grantees.

We use a combination of research, reports and expertise to deepen our understanding of our thematic pillars. We do not have set eligibility criteria such as organisation size or type of entity. This is purposefully kept broad to allow us to use our funds where they can have the greatest impact to support our priorities, ensuring that all grants are supporting our purposes for the public benefit. The Foundation mostly supports organisations delivering activities in the UK at present, with an ambition to build our international work. Monitoring of awards made contributes to our learning and strategic direction.

With this contextual information, we identify potential partners and work with them on a proposal. Staff undertake due diligence on the organisation and its leadership. Conversations and, where appropriate, visits take place to meet partners and observe their work. The information is disseminated to the board for a decision.

We aim to work relationally with our partners. We have set touchpoints for reports but will allow information to be shared that was prepared for their board or other donors. Grantees often provide

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The Astra Foundation (A company limited by guarantee) Report of the Trustees for the year ended 31 December 2022

other ad-hoc updates, and Foundation staff and Trustees attend events hosted by grantees and wider networks. We are most interested in their learning and understand that they operate in a complex environment. Where possible, the Foundation will attempt to connect grantees to others to share learning or suggest pro-bono support if appropriate.

Partnership and collaboration

The Foundation alone cannot solve the challenges we seek to address. In 2022 we continued to collaborate with other grant-making organisations. The portfolio has two ongoing partnerships with Depaul UK and the Belong Collective (UK Youth and Youth Focus NE) that are co-funded by the Co-op Foundation. In 2022, The Astra Foundation worked alongside other funders as part of The Big Give, and with Spirit of 2012, Unite Foundation and The Dulverton Trust, as outlined above.

Financial Review

In the year to 31 December 2022, the Astra Foundation’s income was £1,500,000 (2021: £1,265,000). All income was unrestricted. Total expenditure was £1,389,824 (2021: £2,977,657) which includes commitments in future years as multi-year grant arrangements. Support costs were £94,713 (2021: £60,522), representing 7% (2021: 2%) of our total expenditure. Donations are made to the Foundation when payments are due, resulting in liabilities on the balance sheet and negative free reserves.

Reserves policy

During the period all donations were unrestricted. Astra Foundation’s founder and donor has indicated that all future commitments will be met (subject to progress) and has the intention for Astra to continue and grow its operations. Cash flow is monitored closely to maintain a positive cash balance. Therefore, Trustees are satisfied that the charity is a going concern.

Risk Assessment

Trustees are responsible for monitoring the risks facing the Foundation and ensuring that adequate steps are taken to manage them. Risks are outlined in a matrix grouped under the following headings, as recommended by the Charity Commission: governance risk, external risk, regulatory and compliance risk, financial risk, and operational risk. Each risk is scored based on probability and impact. This is kept under continuous review and is formally updated once a year. The principal risks facing the Astra Foundation are key person risks - both that the Foundation is reliant on a sole benefactor, and managed by a sole employee. In addition, external forces such as a global event, pandemic, war and/or political and financial instability lead to disruption for grantee partners and those they serve: increased demand and/or impact on the value of grants made in other currencies. The Foundation aims to mitigate such risks through agility and flexibility, robust procedural documentation and strong relationships.

Plans for future periods

As a newly established Foundation, we plan to use our early years to refine our approach and theories of change in each of our priority areas. Learning is a key activity that the Foundation will continue throughout our existence. Focusing on systemic change, we are aware of our place in the ecosystem and that we are one of many actors trying to invoke change. Therefore, we will continue to be open to collaboration with other funders to deepen our impact.

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

In 2023, we have ambitions to increase our total budget to £1.7 million. We will also continue to consider ways to support key organisations in each of our priority areas in addition to funds, to support capacity building and peer learning.

Statement of Trustees’ Responsibilities

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 the affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and 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 Companies Act 2006. They are also responsible for safeguarding the assets of the Charity, including taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees’ Report is approved has confirmed that:

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The Astra Foundation

(A company limited by guarantee) Report of the Trustees for the year ended 31 December 2022

Auditors

The auditors, UHY Hacker Young, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

This report was approved by the Board of Trustees on 21 June 2023 and signed on their behalf by

Elisabeth de Kergorlay Founder and Chair

Kathy Francey Trustee

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Independent Auditor’s Report to the Members of The Astra Foundation

Opinion

We have audited the financial statements of The Astra Foundation (‘the charity’) for the period ended 31 December 2022, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our Auditor’s report thereon. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit, the information given in the Report of the Trustees for which the financial statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibility for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

How the audit was considered capable of detecting irregularities, including fraud:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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The Astra Foundation

(A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the charitable company’s accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. The description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

3 July 2023 Allan Hickie BSc FCA (Senior statutory auditor) Date For and on behalf of UHY Kent LLP Chartered Accountants and Statutory Auditors Thames House, Roman Square, Sittingbourne. Kent. ME10 4BJ

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Statement of Financial Activities

(including Income & Expenditure Account) For the year to 31 December 2022

Notes
Unrestricted		 Total Funds Unrestricted Total Funds
Funds 2022 2022 Funds 2021 period to 31
December
2021
(£) (£) (£) (£)
Income and endowments from:
Donations and Legacies 2 1,500,000 1,500,000 1,265,000 1,265,000
Total income 1,500,000 1,500,000 1,265,000 1,265,000
Expenditure on:
Charitable Activities 4 (1,389,824) (1,389,824) (2,977,657) (2,977,657)
Total expenditure (1,389,824) (1,389,824) (2,977,657) (2,977,657)
Net Income/(Expenditure) 110,176 110,176 (1,712,657) (1,712,657)
Net movement in funds 110,176 110,176 (1,712,657) (1,712,657)
Reconciliation of Funds
Total funds at incorporation - - - -
Total Funds at 1 January (1,712,657) (1,712,657) - -
Current year earnings 110,176 110,176 (1,712,657) (1,712,657)
Total Funds at 31 December (1,602,481) (1,602,481) (1,712,657) (1,712,657)

All activities relate to continuing operations.

The Statement of Financial Activities includes all gains and losses recognised during the year.

The notes on pages 17 to 24 form part of these financial statements.

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The Astra Foundation

(A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Balance Sheet At 31 December 2022

Company Number: 13052579 Notes 2022 2021
(£) (£)
Fixed Assets
Tangible Assets 10 1,030 1,373
Current assets:
Debtors 11 1,362 -
Cash at bank and in hand 109,409 182,337
Total Current assets: 110,771 182,337
Creditors: Amounts falling due within one year 12 (1,179,282) (1,062,549)
Net Current Liabilities (1,068,511) (880,212)
Total Assets less Current Liabilities (1,067,481) (878,839)
Creditors: Amounts falling due after more than one year 13 (535,000) (833,818)
Total Net Assets (1,602,481) (1,712,657)
The funds of the charity:
Unrestricted Funds 16 (1,602,481) (1,712,657)
Total funds of the charity: (1,602,481) (1,712,657)

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 21 June 2023 and are signed on behalf of the board by:

Elisabeth de Kergorlay Founder and Chair

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The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Statement of cash flows

Statement of cash flows Statement of cash flows
Notes
2022		 Period to 31
December
2021
(£) (£)
Cash flows from operating activities
Net cash (used in)/provided by operating activities
(72,928)		 183,710
Cash flows from investing activities
Purchase of tangible fixed assets
-		 (1,373)
Net cash used in investing activities
-		 (1,373)
Change in cash and cash equivalents in the period
(72,928)		 182,337
Change in cash and cash equivalents at the beginning of
theperiod
182,337		 -
Cash and cash equivalents at the end of the period
109,409		 182,337
Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period (as per
the statement of financial activities)		 110,176
(1,712,657)
Adjustments for:
Depreciation charges
10		 343
-
(Increase)/Decrease in debtors
11		 (1,362)
-
(Decrease)/Increase in creditors
12,13		 (182,085)
1,896,367
Net cash provided by (used in) operating activities: (72,928)
183,710
Analysis of Cash and Cash Equivalents
Cash in hand 109,409
182,337
Total cash and cash equivalents: 109,409
182,337

16

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee) Report of the Trustees for the year ended 31 December 2022

Notes to the Financial Statements

1 Accounting Policies

Basis of Preparation and assessment of going concern

The financial statements 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 UK and Republic of Ireland (FRS 102)( 2nd Edition effective January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Financial Statements have been prepared under the historical cost convention.

The Charity constitutes a public benefit entity as defined by FRS 102.

The functional and presentation currency of the Financial Statements is GBP and amounts in the accounts are rounded to the nearest pound.

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.

The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern.

The charity has no significant assets aside from the balance of cash held at any one time; however, the commitments to those charities supported are from the main benefactor to the charity who will support the causes committed to for as long as possible.

1.1 Income

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received. Where there are specific terms or conditions attached to grants and donations, these must be met before the income is recognised.

1.2 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 settlement will be required, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Foundation's objectives, as well as any associated support costs.

All expenditure is accounted for on an accruals basis.

17

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation

(A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.3 Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of administration services.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect of its compliance with regulation and good practice.

Support costs and governance costs are apportioned directly to the one charitable activity.

1.4 Transactions denominated in currencies other than GBP

Transactions entered into in foreign currencies are translated into sterling at the spot rate at the date of the transaction. Monetary balances denominated in foreign currencies are translated into sterling at the spot rate at each balance sheet date. Differences on exchange are taken to the statement of financial activities.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition is included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis: Computer equipment - 20%

1.6 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7 Debtors

Short term debtors are measured at transaction price, less any impairment losses.

1.8 Liabilities and provisions

Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result 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.

18

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Short term creditors are measured at the transaction price.

1.9 Financial instruments

The Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.10 Pensions

The Foundation operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Foundation to the fund in respect of the period.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes.

Restricted income funds are those donated for use for specific purposes, the use of which is restricted to that purpose.

1.12 Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Foundation makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are not considered to be any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Significant areas of judgment:

19

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

2 Income from Donations and Legacies

Donations
Total
3
Expenditure - Analysis of
grants
4a
Analysis of Expenditure by
Grant Activity
4b
Analysis of Expenditure by
Grant Activity
5
Support Costs
Staff Costs (see note 7)
Auditor’s remuneration
Accountancy Fees
Legal & professional fees
Subscriptions
Sundry
Total		 Unrestricted
2022
Total Funds
2022
Unrestricted
2021
Total Funds
period 31
December
2021
(£)
(£)
(£)
(£)
1,500,000
1,500,000
1,265,000
1,265,000		 Unrestricted
2022
Total Funds
2022
Unrestricted
2021
Total Funds
period 31
December
2021
(£)
(£)
(£)
(£)
1,500,000
1,500,000
1,265,000
1,265,000
1,500,000
1,500,000
1,265,000
1,265,000
Unrestricted
2022
Total Funds
2022
Unrestricted
2021
Total Funds
period 31
December
2021
(£)
(£)
(£)
(£)
1,295,111
1,295,111
2,917,135
2,917,135
1,295,111
1,295,111
2,917,135
2,917,135
Activity 2022
Grant Funding
of Activities
2022
Support Costs
2022
Total Costs
2022
(£)
(£)
(£)
1,295,111
94,713
1,389,824
Activity 2021
Grant Funding
of Activities
2021
Support Costs
2021
Total Costs
2021
(£)
(£)
(£)
2,917,135
60,522
2,977,657
Unrestricted
2022
Total Funds
2022
Unrestricted
2021
Total Funds
period 31
December
2021
(£)
(£)
(£)
(£)
76,421
76,421
20,919
20,919
5,700
5,700
5,400
5,400
6,489
6,489
5,400
5,400
3,013
3,013
28,288
28,288
558
558
-
-
2,532
2,532
515
515		 Grant Funding
of Activities
2022
Support Costs
2022
Total Costs
2022
(£)
(£)
(£)
1,295,111
94,713
1,389,824
Grant Funding
of Activities
2021
Support Costs
2021
Total Costs
2021
(£)
(£)
(£)
2,917,135
60,522
2,977,657
94,713
94,713
60,522
60,522

20

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation

(A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Included within support costs totalling £94,713 for 2022 the following represented governance costs:

Governance costs
Auditor’s remuneration
Accountancy Fees
Legal & professional fees
Allocation of staff costs
Total		 Unrestricted
2022
Total Funds
2022
Unrestricted
2021
Total Funds
period 31
December
2021
(£)
(£)
(£)
(£)
5,700
5,700
5,400
5,400
6,489
6,489
5,400
5,400
3,013
3,013
28,288
28,288
15,284
15,284
4,184
4,184
30,486
30,486
43,272
43,272

20% of staff costs are allocated to governance on the basis of estimated time spent on governance activities.

6 Net income for the year Total Funds Total Funds
2022 period 31
December
2021
This is stated after charging: (£) (£)
Depreciation 343 -
Auditor’s Fees 5,700 5,400
7 Staff costs 2022 2021
(£) (£)
Wages and salaries 67,791 19,177
Employers National Insurance 1,365 -
Pension costs 7,265 1,742
Total 76,421 20,919

There was one employee with emoluments within the range £60,000 - £70,000 (2021: none). The average number of employees during the year was one (2021: 1).

The trustees and CEO comprise the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis.

Key management personnel compensation for the year to 31 December 2022 was £76,421 (2021: £20,919).

8 Trustee’s remuneration and expenses

None of the Trustees, nor any persons connected with them, received any remuneration during the year. No trustee was reimbursed for any of their expenses during the current year.

21

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

9 Taxation

The charity is exempt from direct tax on its charitable activities.

10 Tangible Fixed Assets

Cost
At 1 January 2022
At 31 December 2022
Accumulated Depreciation
At 1 January 2022
Charged in the year
At 31 December 2022
Net Book Value 31 December 2022
Net Book Value 31 December 2021
11
Debtors
Prepayments
Other debtors
12
Creditors: amounts falling due within one year
Grants - institutional
Accruals & deferred income
Taxation and social security
Other creditors
13
Creditors: amounts falling due after more than one year
Grants - institutional		 Computer
Equipment
(£)
1,373
1,373
-
343
343
1,030
1,373
2022
2021
(£)
(£)
1,114
-
248
-
1,362
-
2022
2021
(£)
(£)
1,149,390
1,044,883
28,380
17,666
85
-
1,427
-
1,179,282
1,062,549
2022
2021
(£)
(£)
535,000
833,818
535,000
833,818

22

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

14 Grant Reconciliation 2022 2021
(£) (£)
Grant commitments at 1 January 1,044,883 -
Payable within one year 833,818 -
Payable in more than one year 1,878,701 -
Approvals in year 1,290,828 2,917,135
Increase in commitment due to fx movements 8,168 -
Grants lapsed (3,885) -
Grants charge for the year 1,295,111 2,917,135
Payments in the year (1,489,422) (1,038,434)
Grant Commitments at 31 December 1,684,390 1,878,701
Payable within one year 1,149,390 1,044,883
Payable in more than one year 535,000 833,818
1,684,390 1,878,701
15 Financial Instruments
Measured at fair value through income and expenditure 31 December 31 December
2022 2021
(£) (£)
Cash at bank and in hand 109,409 182,337
16 Summary of Funds
Summary of Funds (current period) At 1 Income
Expenditure
At 31
January 2022
2022
December
2022 2022
(£) (£)
(£)
(£)
Unrestricted Funds (1,712,657) 1,500,000
(1,389,824)
(1,602,481)
Summary of Funds (prior period) Income
Expenditure
At 31
2021 2021 December
2021
(£) (£) (£)
Unrestricted Funds 1,265,000
(2,977,657)
(1,712,657)

23

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation (A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

17
Analysis of net assets between funds – all unrestricted
Tangible Net Assets
Current assets
Creditors due within one year
Creditors due in more than one year		 2022
2021
(£)
(£)
1,030
1,373
110,771
182,337
(1,179,282)
(1,062,549)
(535,000)
(833,818)
(1,602,481) (1,712,657)

18 Pension Commitments

The Foundation operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Foundation in an independently administered fund. The pension cost charge represents contributions payable by the Foundation to the fund and amounted to £7,265 (2021: £1,742) which was paid during the year.

19 Related Party Transactions

The aggregate amount of unconditional donations from Trustees during the year was £1,500,000 (2021: £1,265,000).

With the exception of the above, the Foundation has not entered into any related party transaction during the period, nor are there any outstanding balances owing between related parties and the Foundation at 31 December 2022 or 31 December 2021.

20 Funds held as an agent

The Astra Foundation received £22,040 as an agent. These funds were paid out during the year and so the Foundation held no agency funds at the year end.

21 Legal status of the Charity

The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.

24

DocuSign Envelope ID: CB835AE5-4F37-42A2-9C34-3F47E40CC40B

The Astra Foundation

(A company limited by guarantee)

Report of the Trustees for the year ended 31 December 2022

Appendix: Grants approved in 2022

Organisation Priority Grantperiod Amount awarded
Ukraine response: Support Ukraine Coordination
Hub and St Mary’s Ukrainian School		 Emergency March 2022 –
June 2023		 £170,000.00
Mouratoglou Academy – Player 1
(continuation)*		 Youth
Empowerment		 September 2022
– August 2023		 €79,000.00
~£66,383.70
Mouratoglou Academy – Player 2
(continuation)*		 Youth
Empowerment		 September 2022
– August 2023		 €79,000.00
~£66,383.70
Direct Impact Africa (via Explore Africa Ltd as
fiscal host)^		 Youth
Empowerment
 May 2022 –
May 2023		 $42,020.00
~£34,310.44
Screen Academy Foundation Youth
Empowerment		 September 2022
– August 2025		 £225,000.00
Big Give Trust Youth
Loneliness		 October 2022 –
November 2023		 £78,750.00
The Relationships Project (via Shift Foundation
as fiscal host)		 Youth
Loneliness		 October 2022 –
August 2023		 £5,000.00
Unite Foundation Youth
Loneliness		 October 2022 –
August 2026		 £120,000.00
Ellen MacArthur Foundation Plastic
Pollution		 October 2022 –
October 2025		 £525,000.00
TOTAL
£1,290,827.84

^ based on FX 1.2247 $/£

25