Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **UNDER ONE SKY (CIO)** REGISTERED CHARITY NUMBER: 1198901 ## ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 MAY 2025 Page 1 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 |**Contents of the Report and Accounts**|| |---|---| ||Page| |Legal and Administrative Information|3| |Trustees’ Report|4-10| |Independent Examiners Report|11| |Statement of Financial Activities|12| |Balance Sheet|13-14| |Notes to the Accounts|15| Page 2 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Reference and administrative details** ## **for the year ended 10 May 2025** Charity name: Under One Sky CIO Company registration number: CE028773 Charity registration number: 1198901 Registered office and principal 71-75 Shelton Street address: London WC2H9JQ **Directors/Trustees** Julia Lalla-Maharajh OBE (Chair) Sara Carnegie (Safeguarding Lead) Anita Hughes Campbell (Treasurer) Shazi Singh Amrit Singh Maan OBE **Trustee changes after year** Julia Lalla-Maharajh OBE Resigned as Chair and Trustee on **end:** 31.08.2025 Rosalind Cochrane-Gough Appointed Chair and Trustee on 01.09.2025 Amrit Singh Maan OBE Resigned as Trustee on 31.08.2025 **Secretary and Principal** Mikkel Juel Iversen (Lead Advisor) **Independent Examiner** Saher Khan 26 Landseer Road Hove BN3 7AF **Bankers** Barclays Bank 1 Churchill Place London E15 5HP Page 3 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Directors/Trustees’ Report** The Trustees are pleased to present their report and the independently examined financial statements of Under One Sky CIO for the year ended 10 May 2025. ## **1. Objectives and activities** When planning the activities for the year the trustees have considered the Commission’s guidance on public benefit. ## _**1.1.** Summary of the purposes of the charity_ Under One Sky exists to relieve poverty, hardship and exclusion among people experiencing homelessness. The charity works to reduce and ultimately end homelessness through consistent, compassionate and community-led support, providing practical assistance, safeguarding, human connection and pathways towards stability and recovery. ## _**1.2.** Summary of the main activities in relation to those purposes for the public benefit_ Under One Sky delivers its charitable purposes through a combination of immediate street-based outreach and longer-term recovery and reconnection pathways. During 2024–25, Under One Sky sustained and strengthened its work across its three strategic pillars: changing lives, activating community-based solutions, and contributing to a wider shift in how homelessness is understood and responded to in society. Across the year, the charity focused both on direct support for people experiencing homelessness and on building the relationships, infrastructure and public engagement needed for longer-term impact. ## _**Changing Lives**_ At the heart of Under One Sky’s work is consistent, person-centred support for people experiencing homelessness. Throughout the year, the charity maintained a strong frontline presence through its Skywalks outreach programme, meeting people where they are and offering practical support, crisis response and human connection. This consistent engagement enabled individuals to be supported through moments of acute difficulty and to rebuild trust after prolonged exclusion. Alongside ongoing outreach, significant progress was made in developing the next stages of the charity’s support pathway. Preparatory work continued on The Lighthouse, a life transformation accelerator designed to support deeper personal change, and on Clear Horizon, which will focus on sustained reintegration and social connection once people move away from street homelessness. Together, these programmes reflect Under One Sky’s commitment to supporting people not only to survive periods of crisis, but to move towards greater stability, wellbeing and purpose. Page 4 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 The public benefit of this work lies in both immediate harm reduction and longer-term outcomes, including improved safety, increased engagement with services, and reduced reliance on crisis responses. ## _**Activating Community-Based Solutions**_ A defining feature of Under One Sky’s model is its mobilisation of community action. During the year, the charity continued to engage and support a large and diverse volunteer base, alongside a growing network of corporate and community partners. Volunteers contributed time, skills and care on a regular basis, enabling outreach to be delivered consistently and safely, and ensuring that people experiencing homelessness were met with dignity and continuity. Corporate partners supported the charity through volunteering, donations, in-kind support and skillssharing, helping to strengthen coordination and capacity across programmes. This approach reinforces the charity’s belief that homelessness is not solely the responsibility of statutory services, but a shared challenge that communities can play an active role in addressing. By enabling thousands of people to participate directly in compassionate action, Under One Sky delivered wider public benefit through increased civic engagement, social responsibility and community cohesion. ## _**Changing Society’s Relationship with Homelessness**_ Alongside direct delivery and community mobilisation, Under One Sky continued to contribute to changing how homelessness is perceived and discussed. Through media engagement, public storytelling, events and partnerships, the charity highlighted the human realities of homelessness and challenged stigma and stereotypes. Throughout the year, Under One Sky’s work and the voices of people with lived experience were shared through media, digital platforms and events. This activity helped to promote a narrative of shared responsibility, empathy and dignity, and supported wider understanding of homelessness as a structural and social issue rather than an individual failure. The charity also used learning from delivery to inform conversations with partners, funders and stakeholders, contributing to improved coordination and more humane responses across the system. Overall Impact Taken together, these achievements demonstrate Under One Sky’s integrated approach to public benefit. By combining consistent frontline support, community mobilisation and narrative change, the charity has delivered immediate relief to people experiencing homelessness while also strengthening the foundations for longer-term change. The work carried out during 2024–25 continued to advance the charity’s purpose of relieving poverty, hardship and exclusion, and contributed to a more compassionate and connected response to homelessness. The trustees have had due regard to the Charity Commission’s guidance on public benefit and confirm that the charity’s activities during the year were carried out for the public benefit. Page 5 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 Volunteers are central to Under One Sky’s work. Over 3,000 volunteers are part of the organisation’s wider community. Volunteers support outreach delivery, safeguarding, leadership, logistics, mentoring and community engagement. Their sustained involvement enables Under One Sky to maintain consistent presence, build trust and respond flexibly to need. ## **2. Achievements and performance** During 2024–25, Under One Sky sustained and strengthened its frontline work while continuing to build the foundations for longer-term impact. Throughout the year, the charity maintained a consistent presence on the streets of London, Newcastle and Edinburgh, ensuring that people experiencing homelessness were met with reliability, dignity and care week after week. Our Skywalks outreach remained the backbone of delivery, providing practical support such as food, clothing and essential items, alongside safeguarding and crisis response. For many of the people we met, this consistency reduced isolation, helped stabilise moments of acute crisis, and created trusted human connection. Long-term relationships, built through regular contact, enabled individuals to be supported through complex and often traumatic circumstances, allowing for steps towards greater stability. Alongside frontline delivery, Under One Sky continued to grow and support its volunteer community, equipping people with training in trauma awareness, safeguarding and compassionate engagement. Volunteers were not only central to service delivery but also to creating a wider culture of care, helping to ensure that people experiencing homelessness were seen as individuals rather than problems to be solved. The charity also expanded its work beyond direct outreach through events, partnerships and media engagement. Talks, screenings and community events created spaces for reflection, learning and action, while media coverage helped to shift public understanding of homelessness as a human and relational issue, not solely a policy challenge. These moments of visibility generated wider public benefit by encouraging empathy, mobilising support, and influencing how homelessness and trauma are discussed in society. Partnerships with corporate, community and other organisations were strengthened during the year, improving coordination of support and continuity of care. These relationships brought additional skills, resources and opportunities into the charity’s work, supporting both immediate response and longer-term pathways out of homelessness. Taken together, these activities delivered clear public benefit. ## **3. Financial review** ## _**3.1.** Review of the charity’s financial position at the end of the period_ During the year ended 10 May 2025, Under One Sky maintained a stable financial position while continuing to invest in daily delivery and operational development. Page 6 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 Total income for the year was £511,288, derived from a mix of individual giving, corporate partnerships, community fundraising and trusts and foundations. This represents annual growth of 38%. Restricted funding amounted to £35,466. In-kind support (£135,846), including donated goods and services, continued to play a significant role in enabling delivery and extending impact. Expenditure totalled £440,030 which represents an annual increase of 37%. Frontline delivery expenditure accounted for 86% of total costs. In-kind support accounted for 31% of total costs. The Net Result for the year was £71,257 which represents an annual increase of 47%. The year opened with Net Assets of £61,497 and the closing balance was £132,755. Cash at Bank and In Hand accounted for 93% of Total Assets and closed on £123,912 (£35,000 restricted). Short-term liabilities (due within 12 months) closed at £14,827 compared to £8,060 in the previous financial year. ## _**3.2.** Reserves policy_ Under One Sky holds reserves to ensure continuity of services, manage risk and provide flexibility in responding to changing needs. The trustees review reserves regularly in line with the reserves policy. At the year end, free reserves stood at £88,911 (closing cash balance excluding restricted reserves), which the trustees consider appropriate given the charity’s scale, risk profile and forward plans. ## **3.3.** _Principal risks facing the charity_ The trustees have considered the charity’s financial position and future plans and confirm that Under One Sky is a going concern. As the organisation continues to grow and develop new programmes, including the Lighthouse pilot, the trustees recognise the importance of securing sustainable funding and maintaining prudent financial management. Mitigations are in place through diversified income streams, phased programme development, active fundraising and regular review of cash flow and reserves. Based on these considerations, the trustees are satisfied that the charity will be able to meet its obligations for the foreseeable future and have identified no material uncertainties that would cast doubt on its ability to continue as a going concern. _The trustees have identified the following principal risks:_ - Funding sustainability: reliance on short-term income streams. Mitigated through income diversification and multi-year funding strategies. - Volunteer capacity and wellbeing: risk of burnout in a high-demand environment. Mitigated through training, support and leadership structures. Page 7 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 - Safeguarding complexity: working with people experiencing multiple vulnerabilities. Mitigated through robust safeguarding policies, training and supervision. - Dependence on key staff: mitigated through shared leadership, documentation and succession planning. ## **4. Structure, governance and management** ## _**4.1.** Governing document and constitution_ Under One Sky is a Charitable Incorporated Organisation, governed by its Constitution, registered in England & Wales. ## _**4.2.** Trustee selection methods including details of any constitutional provision_ Trustees are appointed for a term of three years by resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO. ## _**4.3** . Board structure and management_ During the reporting period the board of trustees consisted of Julia Lalla-Maharajah OBE (Chair), Anita Hughes (Treasurer), Sara Carnegie (Safeguarding), Shazi Singh and Amrit Singh Maan OBE. Trustees and the lead advisor held four formal minuted board meetings in the year of reporting. In addition, four informal meetings were held to support this united and coherent governance team. During the year, Under One Sky transitioned to a co-lead executive structure, with shared leadership responsibilities across strategy, operations and external engagement. The organisation is supported by a small team, a large volunteer community and advisory input including lived experience perspectives. Since 10 May 2025, Under One Sky has continued to strengthen its organisational foundations. Key developments include: - Appointment of Roz Cochrane-Gough as Chair in September 2025, strengthening governance and oversight - Further progress towards launching the Lighthouse pilot, including partnership agreements and delivery planning - Continued development of digital systems to support coordination, safeguarding and learning - Expansion of corporate and community partnerships supporting both outreach and programme development - Formal registration of Under One Sky Scotland with the Office of the Scottish Charity Regulator (OSCR) on 27 August 2025 as a cross-border charity, providing an appropriate regulatory framework to support ongoing delivery and partnerships in Scotland Page 8 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 These developments do not affect the financial statements for the year but are significant to the charity’s future direction. ## _**4.4** . Plans for the Future_ In the year ahead, Under One Sky will focus on: - Sustaining and strengthening Skywalks delivery - Launching the Lighthouse pilot with robust safeguarding and evaluation - • Developing Clear Horizon as a post-Lighthouse support pathway - Continuing digital improvements - Securing diversified, multi-year funding to support sustainability ## **5. Responsibilities of the Trustees** The Trustees are responsible for preparing the Trustees' report and financial statements in accordance with applicable law and regulations. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with company law, the charity's governing document, the Charities Act 2011 and 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. Company law requires Trustees to prepare financial statements for each financial year giving a true and fair view of the charitable company's state of affairs at the end of the year and net income or expenditure for the year. In preparing those financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on a going concern basis unless it is not appropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the charity's financial position and enable them to ensure compliance with the Companies Act 2006. They are also responsible for safeguarding the charity's assets and for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 9 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **6. Independent Examiner** Trustees appointed Saher Khan as the charity’s Independent Examiner. Approved by the Board of Trustees on 11/02/26 and signed on their behalf by: Name: Rosalind Cochrane-Gough Role: Chair Signature: Name: Anita Hughes Campbell Role: Treasurer Signature: Page 10 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Independent Examiner’s Report to the Directors/Trustees of Under One Sky CIO** ## **for the year ended 10 May 2025** I report on my examination of the accounts of the charity for the year ended 10 May 2025, which are set out on page [12]. ## **Respective responsibilities of Trustees and Examiner** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Basis of Independent Examiner’s Report** The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Saher Khan Independent Examiner 26 Landseer Road, Hove, BN3 7AF Date: 09/02/2026 Page 11 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Statement of Financial Activities (Including an income and expenditure account) for the year ended 10 May 2025** Page 12 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Balance Sheet** ## **as at 10 May 2025** _Statement of assets and liabilities at the end of the period_ Page 13 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 For the financial year ended 10 May 2025, the charity was entitled to an exemption from audit under section 144 of the Charities Act 2011. The trustees confirm that no notice requiring an audit has been received from the Charity Commission or its members in accordance with the Act. The trustees acknowledge their responsibilities for ensuring that the charity keeps proper accounting records and prepares financial statements that comply with applicable law and regulations. These accounts have been prepared in accordance with the Charities Act 2011 and the Charities SORP (FRS 102). Approved by the Trustees on 11/02/2026 and signed on their behalf by: Name: Rosalind Cochrane-Gough Role: Chair Signature: Name: Anita Hughes Campbell Role: Treasurer Signature: Page 14 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Notes to the Accounts for the year ended 10 May 2025** ## **Note 1: Basis of preparation and assessment of going concern** The financial statements have been prepared in accordance with: - The Charities Act 2011 - The Charities (Accounts and Reports) Regulations 2008 - Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102 (FRS 102) - Financial Reporting Standard 102 (FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland The charity is a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention, except for investments which are included at fair value where applicable. The accounts are prepared on a going concern basis, and the trustees have assessed that there are no material uncertainties affecting the charity’s ability to continue operating for the foreseeable future. ## **Note 2: Accounting Policies** ## **2.1 Income** _**Recognition of Income:**_ These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - it is more likely than not that the trustees will receive the resources; - the monetary value can be measured with sufficient reliability. _**Offsetting:**_ There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. _**Grants and donations:**_ These are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). _**Tax reclaims on donations and gifts:**_ Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that Page 15 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. _**Donated goods:**_ Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. _**Donated services and facilities:**_ Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. _**Support costs:**_ The charity has incurred expenditure on support costs. _**Volunteer help:**_ The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## **2.2 Expenditure & Liabilities** _**Liability recognition:**_ Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. _**Governance and support costs:**_ Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. _**Deferred income:**_ No material item of deferred income has been included in the accounts. _**Creditors:**_ The charity has creditors which are measured at settlement amounts less any trade discounts. ## **2.3 Assets** _**Tangible fixed assets for use by charity:**_ These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost. The depreciation rates and methods used are disclosed in note 7. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Page 16 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 _**Debtors:**_ Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Note 3: Income Analysis** ## **Note 4: Donated goods, facilities and services** **This year:** In accordance with Charity SORP (FRS 102), the charity recognizes donated goods, facilities, and services as income in the Statement of Financial Activities (SoFA) when the following conditions are Page 17 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 met: 1) The charity has control over the donated item or service, 2) The value can be reliably measured, 3) The donation provides future economic benefit to the charity. - Seconded staff: cost of resource based on estimated salary level pro-rated. The charity benefited from the secondment of staff from NBCUniversal, who provided their services free of charge. The fair value of this contribution, estimated at £4,166, has been recognised as donated services within income and an equivalent amount recorded under expenditure - Property: valued based on cost of affordable comparable alternative (location and size) - Supplies: valued based on retail cost of affordable comparable alternative (quality, volume) - • Services: valued based on cost of affordable comparable alternative (quality, level of service, size of project) ## Estimated volunteer hours donated: 9,500 to 10,000. **Last year:** In accordance with Charity SORP (FRS 102), the charity recognizes donated goods, facilities, and services as income in the Statement of Financial Activities (SoFA) when the following conditions are met: 1) The charity has control over the donated item or service, 2) The value can be reliably measured, 3) The donation provides future economic benefit to the charity. - Property: valued based on cost of affordable comparable alternative (location and size) - Supplies: valued based on retail cost of affordable comparable alternative (quality, volume) - Services: valued based on cost of affordable comparable alternative (quality, level of service, size of project) ## Estimated volunteer hours donated: 7,500 to 8,000. Page 18 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Note 5: Expenditure Analysis** **Staging fundraising events (Expenditure on Raising Funds - Last Year):** £23,000 of the £26,898 expenditure was in the form of donated services. ## _**Expenditure analysis of charitable activities**_ Page 19 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Note 6: Support Costs** Support costs, are apportioned using appropriate cost drivers such as staff time or resource usage. The allocation methods are reviewed annually to ensure they remain fair and reasonable. Page 20 of 27 Docusign Envelope ID." 10g7012￿EE774736-BB0(k163cgADDB4B8 UNDER onE SKY Note 7: Tanglble flxed assels 14.1 Cosl or valuabon Fi••knld laThl & buildin9S Oth4w land & FIKIuw•5. fllth Tolal At Eryinryng OF the year Additions P￿ValUab.onS 'sp)sal$ Tr*Y)sfers" At end of ye 14.2 Depreciation and irryairmenl• -Basi8 SLorF IStri1￿ LI￿ or r¥J Ba1￿Ce1 orFE (fFB Fe orF£ Rale SYSL ye '¥￿saI$ tbpraci*ion Irrpairrn¢rt Tr￿SIerS. At and of IE3 14.3 Net book value Nel boc& vdue al the Jinning OF the 1327 Nel boc& 41 the erd c¢ 1.746 1.746 Page 21 of27 Docusign Envelope ID." 10g7012￿EE774736-BB0(k163cgADDB4B8 UNDER onE SKY Note 8: Stocks 8.1 Please state the carrying amounl of st￿k and vmtk in pwogress anatysed between aclivities. St￿k tlonaied good* Work ln progress Fow distribution For resjle For distTibution For resale Charitable activities: 2,003 1,361 A<*ledin period 88.806 72.095 86.552 66.524 Closmc 4.257 6.931 Toljl th1¥ year 4.257 6.932 Total previous year 2.003 1.361 Page 22 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Note 9: Debtors and prepayments** An in-depth review of our accounts receivables has resulted in derecognising a receivable from HMRC of £10,897 relating to overpaid tax. The level of uncertainty relating to both the amount and the basis for the receivable means it is prudent to fully derecognise the asset. Page 23 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Note 10: Creditors and accruals** ## _**10.1 Analysis of creditors**_ ## _**10.2 Deferred Revenue**_ Restricted grant linked to purchase of a cargo bike received in advance of the purchasing of the bike. Page 24 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Note 11: Cash at bank and in hand** ## **Note 12: Fair value of assets and liabilities** _**This year:**_ The charity is exposed to credit risk primarily from its trade debtors and grants receivable. The charity’s policy is to regularly review aged debts and follow up on outstanding balances. The charity has a policy of maintaining sufficient cash balances to meet its short-term financial obligations. At yearend, the charity held cash and cash equivalents of £123,911, which is sufficient to cover its immediate liabilities. The charity closely monitors cash flow forecasts to ensure liquidity is maintained. The Charity is not exposed to market risk given it neither holds investments in financial instruments or real estate. Equally the charity’s current liquid assets not held in short term financial instruments. _**Last year:**_ The charity is exposed to credit risk primarily from its trade debtors and grants receivable. The charity’s policy is to regularly review aged debts and follow up on outstanding balances. The charity has a policy of maintaining sufficient cash balances to meet its short-term financial obligations. At yearend, the charity held cash and cash equivalents of £46,948, which is sufficient to cover its immediate liabilities. The charity closely monitors cash flow forecasts to ensure liquidity is maintained. The Charity is not exposed to market risk given it neither holds investments in financial instruments or real estate. Equally the charity’s current liquid assets not held in short term financial instruments. Page 25 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 ## **Note 13: Transactions with trustees and related parties** **Amrit Maan** is a director of a company called Maan & Sons. The company has purchased food related supplies for the charity from Booker cash and carry at wholesale prices. The charity has reimbursed the company, Maan & Sons, for the costs incurred. Amrit Maan has received no financial benefit from these transactions. In the financial year Under One Sky transitioned to purchasing directly from Booker Cash & Carry hence the reduction in amount from prior year to current year. **Mikkel Juel Iversen** is a director of a company called Naer Ltd. The company organised and trade financed an order of Under One Sky branded underwear from manufacturer Raddis Cotton. Naer Ltd provided the service to the charity free of any charge. Under One Sky only paid for the manufacturing and logistics services by unrelated parties. Mikkel Juel Iversen has received no financial benefit from these transactions. Page 26 of 27 Docusign Envelope ID: 10970129-EE77-4736-BB00-163C9ADDB4B6 **Amrit Maan** is a director of a company called Maan & Sons. The company has purchased food related supplies for the charity from Booker cash and carry at wholesale prices. The charity has reimbursed the company, Maan & Sons, for the costs incurred. Amrit Maan has received no financial benefit from these transactions. In the financial year Under One Sky transitioned to purchasing directly from Booker Cash & Carry hence the reduction in amount from prior year to current year. **Mikkel Juel Iversen:** The transaction amount of the transfer to correct the funds received in error was equal to the amount of the funds received in error. As a result, the related party is not receiving any financial benefit from the charity. Page 27 of 27 Docusign Envelope ID: 40129338-153D-4A76-B508-819CBEC4C2D8 ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** **Report to the trustees** Charity Name Under One Sky CIO **On accounts for the year** 10 May 2025 **Charity no** 1198901 **ended (if any) Set out on pages** 11 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 10/05/2025. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** The charity’s gross income exceeded £250,000 and I am qualified to **examiner's statement** undertake the examination by being a qualified member of the Chartered Institute of Management Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **Signed: Date:** 09/03/2026 **Name:** Saher Khan **Relevant professional** Chartered Institute of Management Accountants **qualification(s) or body (if any):** 1 **Oct 2018** **IER** Docusign Envelope ID: 40129338-153D-4A76-B508-819CBEC4C2D8 **Address:** 26 Landseer Road Hove BN3 7AF 2 **Oct 2018** **IER**