## **Tr�s�ees� Repor� & Accounts** **for the period 24/5/22 (inception) to 31/12/22** **Registered charity no. 1199059 © Skyward 2023** ## **Introducing Skyward** Skyward is a new charity, it was registered in May 2022; thus t hi� i� �he �����ee�� fi��� annual report. Skyward has been formed as a CIO with two very core aims: I. To advance the education of the public in the subjects of science, technology, engineering, mathematics and in the field of aerospace. II. To act as a resource for children and young people in England and the UK, by organising educational activities and experiences, and by promoting careers in the field of aerospace as a means of: advancing in life and helping children and young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. We endeavour to do this by providing immersive educational experiences centred around the aerospace industry. Skyward aims to take our visitors on a journey of discovery providing immersive, educational, and emotive experiences, highlighting the magical world of flight along with the vast array of careers available by exploring the past, present, and future. We intend to utilise the sessions to ignite a passion for aerospace by creating exciting, inspiring, and thought-provoking activities such as outreach workshops both in-person and remotely via digital platforms, aircraft visits, events and workshops at public events such as air shows, STEM fairs and other specialist events and stand-alone events in a setting that is cutting edge and utilising the latest technologies to offer a highly digital advanced learning platform. facilities. We will achieve this by operating a number of facilities across the country. Our experiences and centres will be connected by a sophisticated and engaging learning platform that users can use to expand their knowledge, engage with further activities and connect with our community partners. The bedrock of each centre will be a world-class interactive learning space where visitors can - e��l��e, di�c��e� a�d i��e��iga�e i� a �ha�d� ��� imme��i�e �a�. O�� c���e�� �ill be c���ic�l�m �ich a�d ��eal ���ld� �ele�a��. We �ill challe�ge �he ���m and stand out from the crowd, performing outside of the box whilst breaking down social and exclusivity barriers and opening minds in order to reach for the skies Our vision is to create a community that is anchored around our experiences and ## **Charity details** Charity Trustees: Richard Griffin Dawn Stokes Sam Davies and 3 year term before presenting themselves for re-election should they wish to do so. An application was submitted to the Charity Commission in early 2022 and formation officially took place in May 2022 when the Commission accepted our application and constitution. Following registration we were delighted to receive our charity number. Charity Address: SKYWARD c/o Bliss Aviation 444 Bournemouth Airport Aviation Business Park Christchurch BH23 6NW The charity in constituted as a CIO with charity number 12096776. The trustees affirm that they have applied due regard to the guidance issued by the Charity Commission on public benefit. ## **Report for the period** This is the first year of the charities legal formation. A small cohort of individuals has spent the last year or so following the Covid19 pandemic assessing the need for a charity such as ours whilst also using the opportunity to network with a number of core aeroindustry professionals and providers in addition to educators and potential beneficiaries. Our discussions demonstrated that a need does exist and that a proposition such as Skyward would be seen as a valuable and engaging asset to assist in inspiring the next generation of aviation professionals as well as other STEM sectors. The offshoot of this also being to further develop our beneficiaries to advance in life. As a result of the above, the decision was formally made to legally incorporate the organisation as a charity and CIO was elected as the chosen structure for the charity to function. A further two trustees were invited to join the initial board and these individuals have been chosen on the basis of their expertise and background. They have agreed to sit for a 2 Following this milestone achievement, the Trustees met to discuss next actions and these include to continue discussions with interested stakeholders and to investigate potential methods of fundraising. As of yet we are still very much in the infancy of the charities formation and as such no further actions have been taken to the end of the financial year. Our plans for 2023 are to formally open a bank account, hold additional trustees meetings, develop policies, and to further progress our plans to raise capital in support of officially launching the charity to the general public and potential beneficiaries. The expectation is that this will take place towards the end of 2023 or in early 2024. This time will also be used to continue discussions with interested businesses who may be keen to support our launch, charitable objectives and provide financial support along with the donation of our first asset which will be used as the centrepiece of the first facility. ## Richard Griffin _Founder & Trustee 31 December 2022_ **Accounts** ## _**Statement of financial activities for the period ending 31 December 2022**_ ||Unrestricted|Restricted|**Total**| |---|---|---|---| ||funds|funds|**funds**| ||£|£|**£**| |**INCOME**|||| |Donations|3,270|0|**3,270**| |**EXPENDITURE**|||| |_Charitable activities_|_2,760_|_0_|**_2,760_**| |_Cost of generating funds_|_0_|_0_|**_0_**| |_Governance_|_510_|_0_|**_510_**| |Total Expenditure|3,270|0|**3,270**| |**NET INCOME/(EXPENDITURE)**|
0|0|**0**| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward|0|0|**0**| |Total funds carried forward|0|0|**0**| |**_Balance sheet at 31 December 2022_**|||| |**CURRENT ASSETS**|||| |Cash at bank and in hand|£ 0||| |**CURRENT LIABILITIES**|||| |Current liabilities|£ 0||| |**NET ASSETS**|**£ 0**||| |Represented by:|||| |Unrestricted funds|£ 0||| |Restricted funds|£ 0||| These financial statements are approved by the board on 31 December 2022 ## Richard Griffin Trustee _**Notes to the financial statements**_ ## **Basis of preparing the financial statements** The financial statements of the charity are prepared on a cash basis for this opening period ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **Hire purchase and leasing commitments** None in this opening period. ## **Salary and pension costs** None in this opening period. ## **Trustees � remuneration and benefits** None in this opening period. ## **Trustees � expenses** None in this opening period. ## **Related party disclosures** None in this opening period. ## **Reserves policy** The charity has not yet accumulated reserves. ## **END**