Docusign Envelope ID." 09AOEcE&935F43A1-9EcF60C90DB2S7 f4ASTRA FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2025 2025 Registered Company (13052579) and Charity (1196829) in England and Wales
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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| Contents | |
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| Reference and administrative details of the Foundation 2 |
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| Trustees' report 3 - 8 |
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| Independent auditor's report on the fnancial statements 9 - 11 |
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| Statement of Financial Activities 12 |
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| Balance Sheet 13 |
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| Statement of cash fows 14 |
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| Notes to the fnancial statements 15 - 22 |
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| Appendix: Grants Approved in 2025 23 |
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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Reference and Administrative Information
| Charity name: | The Astra Foundation |
|---|---|
| Charity registration number: | 1196829 |
| Company registration number: | 13052579 |
| Registered Ofce and mail address: | 4th Floor Silverstream House 45 Fitzroy Street London W1T 6EB |
| Operational address: | 2nd foor, 18-19 Pall Mall London SW1Y 5LU (until March 2025) Fivefelds, 8-10 Grosvenor Gardens Victoria, London (from April 2025) |
| Trustees: | Ms E de Kergorlay (Founder and Chair) Ms V Newman Ms K Francey |
| Foundation Manager: | Ms S Hale (until May 2026) Ms Dorothée van Tendeloo (from April 2026) |
| Independent Auditors: | UHY Hacker Young Thames House, Roman Square Sittingbourne Kent ME10 4BJ |
| Bankers: | SG Kleinwort Hambros Bank Limited 5th foor, 8 St James’s Square London SW1Y 4JU (until 31 November 2025) Union Bancaire Privée 1 Bank Street, Canary Wharf London E14 4SG (from 1 December 2025) |
| Solicitors: | Payne Hicks & Beech LLP 10 New Square, Lincoln's Inn Fields London WC2A 3QG |
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Trustees’ Report for the year ended 31 December 2025
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 their decision-making.
Objectives and Activities
The Foundation's objects ("Objects") are specifically restricted to the advancement of such charitable purposes (according to the law of England and Wales) as the Trustees see fit from time to time. The Astra Foundation's mission is to advance three initiatives to benefit the public in furtherance of the Foundation's general charitable purposes: (i) combating loneliness in young adults; (ii) empowering youth to reach their potential; and (iii) combating environmental pollution, particularly from plastic waste. The Foundation makes grants to other charitable organisations in the UK and in other territories which deliver projects addressing these three initiatives for public benefit.
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
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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.
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Implement change by
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a. Encouraging systemic change through policy work
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b. Supporting direct-impact interventions that closely fit the priority areas
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Establish and promote the Foundation as a thought leader in the programme areas and a positive influence for change in our priority areas.
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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 children and young adults that show promising approaches to addressing loneliness and isolation.
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 barriers and reach their potential. The Foundation supports targeted interventions 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, engaging governments and corporate organisations in the supply chain.
Grantmaking Philosophy
We make grants to charities and social enterprises that meet our priorities. We use reports, research, and networks to proactively seek partners, getting to know organisations and the context in which they operate. We strive to be proportionate in our fact-finding and relationship-building, mindful of others' time. We know they are the experts in their field, and we aim to learn from our portfolio to shape our future priorities.
We support a mix of grants that focus on the direct delivery of activities and those that influence policy change, ensuring issues are tackled systemically. In this vein, we are interested in how different sectors contribute to tackling or minimising social issues, particularly in loneliness and plastic pollution. We are open to calculated risks: we provide grants to seed fund new organisations and to support existing, impactful work.
Achievements and Performance
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In 2025, we made 17 grants (2024: 11), totalling over £3,104,000 (2024: £988,000). This included disbursing funds donated to the Foundation in 2024 from the closure of the Campaign to End Loneliness, part of the What Works Centre for Wellbeing. The increase was due to multi-year renewals with partners we’ve supported since 2021, as well as new single- and multi-year partnerships.
As a young foundation, we are ambitious to make a difference, asking ourselves and our partners, ‘so what?’ We believe our role is not only to fund but also to catalyse change: seeking out evidence of what works, supporting existing and novel approaches and encouraging collaboration across sectors and geographies.
A full list of grants awarded in 2025 is appended at the end of this report.
YOUTH LONELINESS
Eight of the 17 grants awarded in 2025 were towards our Loneliness priority. It included renewal grants for The Jo Cox Foundation ’s work leading a loneliness policy action group, Good Faith Foundation for the Warm Welcome Campaign, and UK Youth for a renewed iteration of the Belong Collective to support youth professionals in identifying and tackling youth loneliness. In addition, a further grant was awarded to support international work on the use of third spaces, specifically to reinvigorate cafe culture, via seed funding to the new organisation Europa Cafés . The Foundation also supported new partnerships both at a policy level, with two grants to Intergenerational England to support the APPG on Tackling Loneliness and Connected Communities (one of which was restricted legacy funding from the closure of the What Works Centre for Wellbeing), and two grants on delivery with young people, including Neighbourly Lab who are testing approaches to strengthening a sense of belonging and reducing severe loneliness among school students; and GoodGym , which uses community volunteering and social action with accessible physical movement activities to reduce youth loneliness
YOUTH EMPOWERMENT
All seven Youth Empowerment Grants were renewals to partners known to us. During the year, the Trustees agreed to implement a model of a maximum of two x three-year grants before ending partnerships, to allow for greater rotation of partners in this category. This was communicated to partners to support fundraising efforts beyond our partnership. We renewed our multi-year, unrestricted partnerships with Street League , The Brilliant Club and The Screen Academy Foundation . Additional funding was also awarded to locally-based (North Kensington) partners, The Dalgarno Trust and Ukrainian St Mary’s Trust , as well as to Ars Dramatis to support the innovative co-production theatre shows of A Zeldin Company, and sponsorship of a player at Mouratoglou Academy’ s elite tennis player programme in France.
PLASTIC POLLUTION
Although our smallest category had just two new partnerships in 2025, they were the largest value grants awarded. They were a renewal to the Ellen MacArthur Foundation for their Plastics Mission, and the Plastic Solutions Fund , an international pooled fund supporting groups tackling the entire lifecycle of plastics.
Partnership and collaboration
The Foundation alone cannot solve the challenges we seek to address. We continue to be open to other funder collaborations in our thematic areas, and are co-funding the grant to Neighbourly Lab and streamlining reporting to ease the administrative burden.
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.
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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 support our purposes for the public benefit. 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 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.
Financial Review
In the year to 31 December 2025, the Astra Foundation’s income was £1,433,595 (2024: £1,203,434). All income was unrestricted. Total expenditure was £3,221,105 (2024: £895,733), which includes commitments in future years as multi-year grant arrangements. Support costs were £101,020 (2024: £90,913). Donations are made to the Foundation when payments are due, resulting in liabilities on the balance sheet and negative free reserves.
Reserves policy
Total funds of the charity at 31 December 2025 were -£2,010,360 (2024: -£227,133). Although the funds of the charity are negative, the Trustees believe that the charity has no need to hold reserves as the donor has indicated that all future commitments will be met (subject to progress) and has the intention for the Foundation to continue and grow its operations. Cash flow is closely monitored to maintain a positive cash balance. Therefore, Trustees are satisfied that the Foundation is a going concern.
During the period, all donations from our founder were unrestricted.
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, with additions made this year based on our growth in international giving. 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.
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Plans for future periods
The Foundation continues to refine our approach and theories of change in each of our priority areas through learning from partners and the wider sector. 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.
During the year, the Trustees considered an analysis of the grants portfolio and grant-making to date. Discussions led to the decision to increase the Foundation’s staffing to support our work on youth loneliness, advancing our work beyond grant making - including convening, collaboration, and cross-sector initiatives. Recruitment took place in late 2025, with a new staff member joining in 2026.
Reflecting on our first five years of grant-giving, the foundation also requested partners, successful or otherwise, to share anonymous feedback. Positives included the trust-based, relational approach, with partners particularly valuing the staff and founder’s personal support, flexible funding, and minimal administrative burden. Areas to develop include the grantee’s desire for longer-term funding commitments and more structured opportunities for peer networking and strategic transparency. This feedback will be taken into our work in 2026 and beyond.
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities Statement of Recommended Practice (SORP) (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, including FRS102, have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business; and
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state whether a SORP applies and has been followed, subject to any material departures which are explained in the financial statements.
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.
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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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So far as that Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware, and
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That Trustees have taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
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 16 April 2026 and signed on their behalf by
Elisabeth de Kergorlay Kathy Francey Founder and Chair Trustee
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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 year ended 31 December 2025, 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of the charitable company’s incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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:
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the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
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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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:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
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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we identified the laws and regulations applicable to the charity through discussions with management, and from our commercial knowledge and experience in the sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the operations of the charitable company, including the Charities Act 2011 and the Companies Act 2006;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence; and
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- identified laws and regulations were communicated within the audit team and the team remained 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:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading minutes of meetings of those charged with governance; and
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enquiring of management as to actual and potential litigation and claims.
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 non-compliance. 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.
29 April 2026 Date: Tracey Moore BFP ACA (Senior statutory auditor) For and on behalf of UHY Hacker Young
Chartered Accountants and Statutory Auditors, Thames House, Roman Square, Sittingbourne. Kent. ME10 4BJ
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Statement of Financial Activities
(including Income & Expenditure Account)
For the year to 31 December 2025
| Not es Unrestricted Funds Restricted Funds Total Funds 2025 Unrestricted Funds Restricted Funds Total Funds 2024 |
Not es Unrestricted Funds Restricted Funds Total Funds 2025 Unrestricted Funds Restricted Funds Total Funds 2024 |
|---|---|
| Statement of Financial Activities (£) (£) (£) (£) (£) (£) |
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| Income and endowments from: | |
| Donations and Legacies 3 1,433,395 - 1,433,395 1,173,434 30,000 1,203,434 |
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| Other Income 200 - 200 - - - |
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| Total 1,433,595 - 1,433,595 1,173,434 30,000 1,203,434 |
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| Expenditure on: | |
| Charitable Activities 4 (3,219,145) (1,960) (3,221,105) (867,693) (28,040) (895,733) |
|
| Total (3,219,145) (1,960) (3,221,105) (867,693) (28,040) (895,733) |
|
| Net (Expenditure)/Income (1,785,550) (1,960) (1,787,510) 305,741 1,960 307,701 |
|
| Other recognised gains/(losses) | |
| Other gains/(losses) 4,283 - 4,283 - - - |
|
| Net movement in funds (1,781,267) (1,960) (1,783,227) 305,741 1,960 307,701 |
|
| Reconciliation of Funds: | |
| Total Funds at 1 January (229,093) 1,960 (227,133) (534,834) - (534,834) |
|
| Current year earnings (1,781,267) (1,960) (1,783,227) 305,741 1,960 307,701 |
|
| Total Funds at 31 December 17 (2,010,360) - (2,010,360) (229,093) 1,960 (227,133) |
All activities relate to continuing operations.
The Statement of Financial Activities includes all gains and losses recognised during the year. The notes on pages 15 to 22 form part of these financial statements.
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Balance Sheet At 31 December 2025
| Balance Sheet At 31 December 2025 | Balance Sheet At 31 December 2025 |
|---|---|
| Company Number: 13052579 Notes 2025 2024 |
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| Balance Sheet (£) (£) |
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| Fixed Assets | |
| Tangible Assets 11 205 480 |
|
| Current Assets: | |
| Debtors 12 393 384 |
|
| Cash at bank and in hand 271,762 293,153 |
|
| Total Current Assets: 272,155 293,537 |
|
| Creditors: Amounts falling due within one year 13 (1,105,059) (521,150) |
|
| Net Current Liabilities (832,904) (227,613) |
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| Total Assets less Current Liabilities (832,699) (227,133) |
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| Creditors: Amounts falling due after more than one year 14 (1,177,661) - |
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| Total Net Assets (2,010,360) (227,133) |
|
| The funds of the charity: | |
| Restricted Funds 17 - 1,960 |
|
| Unrestricted Funds 17 (2,010,360) (229,093) |
|
| Total funds of the charity: (2,010,360) (227,133) |
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 16 April 2026 and are signed on behalf of the board by:
Elisabeth de Kergorlay Founder & Chair of Trustees
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The Astra Foundation (a company limited by guarantee)
| Notes 2025 2024 |
Notes 2025 2024 |
|---|---|
| Statement of cash fows (£) (£) |
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| Cash fows from operating activities: | |
| Net cash (used in) / provided by operating activities (21,391) 200,760 |
|
| Change in cash and cash equivalents in the period (21,391) 200,760 |
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| Cash and cash equivalents at the beginning of the period 293,153 92,393 |
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| Cash and cash equivalents at the end of the period 271,762 293,153 |
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| Reconciliation of net income/(expenditure) to net cash fow from operating activities | |
| Net income for the reporting period (as per the statement of fnancial activities) (1,783,227) 307,701 |
|
| Adjustments for: | |
| Depreciation charges 11 275 275 |
|
| (Increase) in debtors 12 (9) (319) |
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| Increase/(Decrease) in creditors 13,14 1,761,570 (106,897) |
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| Net cash provided by/ (used in) operating activities: (21,391) 200,760 Analysis of Cash and Cash Equivalents Cash in hand 271,762 293,153 Total cash and cash equivalents 271,762 293,153 Analysis of changes in net debt At 1 Jan 2025 Cashfows At 31 Dec 2025 (£) (£) (£) Cash 293,153 (21,391) 271,762 |
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Notes to the Financial Statements
1 General Information
The Astra Foundation is a charitable company limited by guarantee, incorporated on 1 December 2020 and registered as a charity on 29 November 2021 and is governed by its Articles of Association. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.
Company number: 13052579
Registered office address: 4th Floor Silverstream House 45 Fitzroy Street London W1T 6EB
2 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) (second edition) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (January 2022) 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.
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.
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.
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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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.
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.
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.
Realised gains and losses – Foreign Exchange
All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains and losses are calculated as the difference between the fair value at the year-end and their carrying value.
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%
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.
Debtors
Short term debtors are measured at transaction price, less any impairment losses.
Liabilities and provisions
Liabilities 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.
Short term creditors are measured at the transaction price.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
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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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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.
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.
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. The 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 are discussed below.
Critical areas of judgment are:
-
Estimating the liability for multi-year grant commitments.
-
Estimating future income and expenditure flows for the purpose of assessing going concern.
3 Income from Donations and Legacies
| Donations Total |
Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 (£) (£) (£) (£) (£) (£) 1,433,395 - 1,433,395 1,173,434 30,000 1,203,434 |
|---|---|
| 1,433,395 - 1,433,395 1,173,434 30,000 1,203,434 |
4 Expenditure - Analysis of grants
| Grants Donations Direct Charitable Activities Support Costs Total |
Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 (£) (£) (£) (£) (£) (£) 3,100,227 1,960 3,102,187 776,780 20,000 796,780 - - - - 3,000 3,000 17,898 - 17,898 - 5,040 5,040 101,020 - 101,020 90,913 - 90,913 |
|---|---|
| 3,219,145 1,960 3,221,105 867,693 28,040 895,733 |
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
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5a Analysis of Expenditure by Activity 2025
| Grant Funding of Activities 2025 |
Grant Funding of Activities 2025 |
Direct Charitable Activities 2025 |
Direct Charitable Activities 2025 |
Direct Charitable Activities 2025 |
Support Costs 2025 |
Support Costs 2025 |
Total | Costs 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| (£) | (£) | (£) | (£) | ||||||
| Grant Activity | 3,102,187 | 17,898 | 101,020 |
3,221,105 | |||||
| Analysis of Expenditure by Activity 2024 | |||||||||
| Grant Funding of Activities 2024 |
Direct Charitable Activities 2024 |
Support Costs 2024 |
Total | Costs 2024 | |||||
| (£) | (£) | (£) | (£) | ||||||
| Grant Activity | 799,780 | 5,040 | 90,913 |
895,733 | |||||
| Support Costs | |||||||||
| Unrestricted | Restricted |
Total Funds Unrestricted |
Restricted | Total Funds | |||||
| Funds 2025 | Funds 2025 |
2025 | Funds 2024 | Funds | 2024 | 2024 | |||
| (£) | (£) | (£) | (£) | (£) | (£) | ||||
| Staff costs (see note 8) |
80,089 | - | 80,089 | 69,757 | - | 69,757 | |||
| Auditor’s remuneration |
6,060 | - | 6,060 | 6,360 | - | 6,360 | |||
| Accountancy fees | 4,359 | - | 4,359 | 2,568 | - | 2,568 | |||
| Subscriptions | 2,280 | - | 2,280 | 2,223 | - | 2,223 | |||
| Depreciation | 275 | - | 275 | 275 | - | 275 | |||
| Sundry | 7,957 | - | 7,957 | 9,732 | - | 9,732 | |||
| Total | 101,020 | - | 101,020 | 90,913 | - | 90,913 |
5b Analysis of Expenditure by Activity 2024
6 Support Costs
Included within support costs totalling £101,020 for 2025 (2024: £90,913), the following represented governance costs
Governance Costs
| overnance Costs | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Unrestricted | Restricted | Total Funds | |
| Funds 2025 | Funds 2025 | 2025 | Funds 2024 | Funds 2024 | 2024 | |
| (£) | (£) | (£) | (£) | (£) | (£) | |
| Auditor’s remuneration |
6,060 | - | 6,060 | 6,360 | - | 6,360 |
| Accountancy fees | 3,683 | - | 3,683 | 2,568 | - | 2,568 |
| Allocation of staff costs |
16,018 | - | 16,018 | 13,952 | - | 13,952 |
| Total | 25,764 | - | 25,764 | 22,880 | - | 22,880 |
20% of staff costs are allocated to governance on the basis of estimated time spent on governance activities.
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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7 Net income for the year
| Net income for the year | |
|---|---|
| This is stated after charging: Depreciation Auditors’ remuneration - external audit Staff costs Wages and salaries Employers National Insurance Pension Costs Total |
Total Funds 2025 Total Funds 2024 (£) (£) 275 275 6,060 6,360 |
| 2025 2024 (£) (£) 72,118 61,600 1,811 1,997 6,160 6,160 |
|
| 80,089 69,757 |
8 Staff costs
There was one employee with emoluments within the range £70,000 - £80,000 (2024: one within the range £60,000 - £70,000). The average number of employees during the year was 1 (2024: 1).
The Trustees and the Foundation Manager are considered to be 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 2025 was £80,089 (2024: £69,757).
9 Trustee’s remuneration 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.
10 Taxation
The Astra Foundation is a registered Charity and is therefore potentially exempt from taxation on its income and gains as the Foundation falls within the definition of a charitable company as defined in Part 1, Schedule 6 of the Finance Act 2010. No tax charge has arisen in the year.
11 Tangible Fixed Assets
| Tangible Fixed Assets | |
|---|---|
| Computer Equipment | |
| Cost | (£) |
| At 1 January 2025 | 1,373 |
| At 31 December 2025 | 1,373 |
| Accumulated Depreciation | |
| At 1 January 2025 | 893 |
| Charged in the year | 275 |
| At 31 December 2025 | 1,168 |
| Net Book Value 31 December 2025 | 205 |
| Net Book Value 31 December 2024 | 480 |
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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| 12 Debtors 2025 (£) Prepayments 319 Other debtors 74 393 13 Creditors: amounts falling due within one year 2025 (£) Accounts Payable 687 Grants - Institutional 1,090,653 Accruals 7,324 Taxation & social security 4,413 Other creditors 1,982 1,105,059 14 Creditors: amount falling due after more than one year 2025 (£) Grants - Institutional 1,177,661 1,177,661 15 Grant reconciliation 2025 Grant commitments b/f at 1 January (£) Payable within one year 512,786 Payable in more than one year - 512,786 Grant approvals in year 3,103,373 Donation approvals in year - (Decrease)/Increase in commitment due to fx movements (2,762) Grants lapsed - Grants cancelled (1,021) Grants charge for the year 3,099,590 Grants refunded in the year - Payments in the year (1,344,062) Grant commitments c/f at 31 December 2,268,314 Payable within one year 1,090,653 Payable in more than one year 1,177,661 2,268,314 |
2025 (£) 319 74 393 2025 (£) 687 1,090,653 |
2024 (£) 322 62 |
|---|---|---|
| 384 | ||
| 2024 (£) - 512,786 |
||
| 7,324 | 7,324 | |
| 85 955 |
||
| 521,150 | ||
| 2024 (£) - |
||
| - | ||
| 2024 (£) 580,148 40,000 |
||
| 620,148 | ||
| 829,449 3,000 (7) (5,368) (27,294) |
||
| 799,780 | ||
| 27,294 (934,436) |
||
| 512,786 | ||
| 512,786 - |
||
| 512,786 |
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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16 Financial Instruments
Financial assets measured at fair value through income and expenditure
| 31 | December | 31 | December | |
|---|---|---|---|---|
| 2025 | 2024 | |||
| (£) | (£) | |||
| Cash at bank and in hand | 271,762 | 94,754 |
17 Summary of Funds
Summary of funds (current year)
| At | Other Gains/ | At | |||
|---|---|---|---|---|---|
| 01/01/2025 | Income | Expenditure | (losses) | 31/12/2025 | |
| (£) | (£) | (£) | (£) | (£) | |
| Restricted Funds | 1,960 | - | (1,960) | - | - |
| Unrestricted Funds | (229,093) | 1,435,595 | (3,219,145) | 4,283 | (2,010,360) |
| Total Funds | (229,093) | 1,435,595 | (3,221,105) | 4,283 | (2,010,360) |
Summary of funds (prior year)
| At | At | |||
|---|---|---|---|---|
| 01/01/2024 | Income | Expenditure | 31/12/2024 | |
| (£) | (£) | (£) | (£) | |
| Restricted Funds | - | 30,000 | (28,040) | 1,960 |
| Unrestricted Funds | (534,834) | 1,173,434 | (867,693) | (229,093) |
| Total Funds | (534,834) | 1,203,434 | (895,733) | (227,133) |
Restricted Funds
The What Works Centre for Wellbeing, closed in Spring 2024. The Astra Foundation was chosen as a recipient of the Campaign’s unspent funds upon closure to disburse in line with their wishes: to support the transfer of digital assets to the Centre for Loneliness Studies at Sheffield Hallam University, and to support non-partisan engagement in the lead up to and beyond the election .
18 Analysis of net assets between funds
| Tangible Net Assets Current Assets Creditors due within one year Creditors due in more than one year |
Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 (£) (£) (£) (£) (£) (£) 205 - 205 480 - 480 272,155 - 272,155 291,077 2,460 293,537 (1,105,059) - (1,105,059) (520,150) 500 (520,650) (1,177,661) - (1,177,661) - - - |
|---|---|
| (2,010,360) - (2,010,360) (229,093) 1,960 (227,133) |
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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19 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 £6,160 (2024: £6,160) which was paid during the year.
20 Related Party Transactions
The aggregate amount of unconditional donations from Trustees during the year was £1,433,395 (2024: £1,203,434).
During the year, the Foundation approved and paid a grant of £100,000 to Ars Dramatis. This organisation was established to support the making of theatre and dramatic art and directly supported the activities of A Zeldin Company, of which Elisabeth de Kergorlay is a Director. In the prior year, £100,000 was granted directly to A Zeldin Company. Elisabeth de Kergorlay did not take part in the decision to make either grant.
The Foundation has not entered into any related party transaction during the period other than those noted above, nor are there any outstanding balances owing between related parties and the Foundation at 31 December 2025 or 31 December 2024.
21 Funds held as an Agent
Astra Foundation held no funds as an agent in 2025 or 2024.
22 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 £10 per member.
Docusign Envelope ID: 09A0ECE6-935F-43A1-9EC8-4F60C90DB257
The Astra Foundation (a company limited by guarantee)
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Appendix: Grants approved in 2025
| Organisation | Priority | Amount Awarded |
|---|---|---|
| Intergenerational England^ | Youth Loneliness | £1,960 |
| Plastic Solutions Fund (fscally hosted via Rockefeller Philanthropy Associates)* |
Plastic Pollution | $500,000 ~£374,873 |
| Street League | Youth Empowerment | £360,000 |
| The Brilliant Club | Youth Empowerment | £360,000 |
| Dalgarno Trust | Youth Empowerment | £30,170 |
| Ukrainian St Mary's Trust | Youth Empowerment | £40,000 |
| Good Faith Foundation | Youth Loneliness | £255,000 |
| Ars Dramatis | Youth Empowerment | £100,000 |
| Europa Cafés* | Youth Loneliness | €60,000 ~£52,371 |
| UK Youth | Youth Loneliness | £300,170 |
| Jo Cox Foundation | Youth Loneliness | £159,420 |
| Intergenerational England | Youth Loneliness | £25,000 |
| Neighbourly Lab | Youth Loneliness | £20,000 |
| GoodGym | Youth Loneliness | £225,000 |
| Screen Academy Foundation | Youth Empowerment | £255,000 |
| Mouratoglou Academy* | Youth Empowerment | €22,450. ~£19,409 |
| Ellen MacArthur Foundation | Plastic Pollution | £525,000 |
| TOTAL | £3,103,373 |
- GBP calculated using the rate on the date of approval
^ Funded by a restricted grant from the closure of the What Works Centre for Wellbeing