Charity registration number 305991 Company registration number 381668 (England and Wales) CONCORDIA (UK) LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Illllllllll •￿BIN62A¢ A12 (*Th2023 COMPANIES HOLISE CONCORDIA (UK) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION TrusteeB Mr S Piccover M5 J Bond Mr D Pullen Ms E Ajku •As C Dean Mr D James Ms F Lambert MrA Mryan Mf M Nayhx (Appointed 22 June 20221 (Appointed 22 June 2022) (Appointed 22 June 20221 (Appointed 22 June 20221 (Appotnted 22 June 2022) Chid Executive & Company Secretary Mr S Bowyer Senior Managernent Team Mr l Hamer Ms K Goode Mr V Petetsson Ms K Quick Head of Finance & IT Head of Operatsons Head ofyouth Progranmnes Head of Martketmg and Communicatsons Charity number 305991 Company number 381668 Prin¢•pal addr￿• 19 North Streeet Portslade BN41 1DH Registered office 19 North Streeet PNtslade East Sussex BN41 1DH Audltor Knill James LLP One Bell L￿e Lewes East Sussex BN7 1JU Bankers Metro Bank PLC One Southampton Rryw London WC18 SHA Solieitors Mayo ￿nn 8axter LLP 4M6 Old Sleine 8nghton East Svs5ex BN1 1NH CONCORDIA (UK) LIMITED CONTENTS Page Chairfs Statement Trustee5' ￿Port Statement of tnjstees. responsibilrtbes 10 Independent audito¢s report Statement of financial a¢*'¥ities 14 Balance sheet 15. Sialemenl of cash IIu4V5 16 Noie$ to the financial statements 17-30 CONCORDIA {UK) LIMITED CHAIR'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 In June 2022 the Board saKI farewell to Jeremy Ogden who been Chair of the Board for 5 years which induded some of the fflost diffictjlt times experienced in pea(x time. It was an honour Ihat the Board Iwhich had 5 new trusteesl unanjmously elecled me lo be the new Chair. It is an hwour to be the Chair and l am grateful to the ongoing support of the TnJstees the chief exeojtive and all staff. Concordia entered 2022 vitth ambitiou$ plans to recover from the pandemic and re5um¢ a more normal pattern of aclivity. However, the war in Ukraine broke out on February 241h, and a lot of work was required to help our Ukrainian partlClP8nts lo come over to the UK and lo re-reuurt for some farm wjrses which could no longer be filled by Ukrainians. Despite Ihis. we were awe to sUp￿Y over 9,700 part40pants to UK larns. reach over 600 young people on our NCS programrnes. launch our Emotional Wel1b￿n9 Progfamme in school reaching 255 pupils, and welcoTne 6 international volunteer5 as we returned to the international volunteering communty after the moralonum c*Jsed by the p￿demiC. As intemational travel began to reS￿me. Concordia contwiued to I￿￿$ ￿ Irxal ¢ommunrty and yolunteefing a¢tiviti'e5 whilst planning fof the T&launch of volunteefing on a larger scale in 2023. We have begun to expand our Emotional Wellbeing Programme from 2 schods lo 5. recruiting and training a dedicated cohort of facilitators and developing and improwng this innovatNe inrtiative. We achieved some excellent results such a5 inueasing the number of young people who feli proud ol themselves from 40Y• at Ihe start ol the Programme to 70% after one tem ol interyenlion. In addrtion we were commisgoned by the NCS trust to run extsa Sknll Builder courses dedicated to giving life and emploYa￿'1ty skills to young people in the Su55ex aKea. Dunng 2022 Concordia conlinued its commitment to excenence in recruiting international partiupanls to work on UK famis. We were founder members of a new In￿atIVe called the JustGood Work App. v4hich enables workers to access a dedicated portal giving thern informats.on their rights and a dedicated support network. Of all the operators in the Seasonal Workers Scheme. Concordia consi5teniiy had the highest number ol downloads ol this app as we worked hard to ensure all wr wothers are fully inlormed arKJ educaied about the jobs they are rA)ming to the UK to do. In my first V151t as chair (August) I went io the Maidslone farm where I was able to rreet a group ol Concordia pickers 8nd have some bnlereskn.ng disw$5ions wrth ihe owner. Given the chan9e il was agreed to rewrite ihe pbn to indude ambitiw5 target5 fot the recruitment of skilled workers to aid the UK econorny. reach rrK)re young peorAe wrth our Emotional Wembeing Programme, relaunch Intelnational Vclunteering. and rnaintain the high standafds in Seasonal fam) workers recruitmeni. The NCS Trust rernodeled its activities lor 2023. and we have put in a bid for exating new inittatives- Ihe open lo all communty lund, and the tar9eted ath.vty program. The$e new ath"¥ities will ena￿e Concord¢a to work vthh the hardef lo reath communilies of young people In the Biighton and Hove and wider Sussex aTea, and Introdu￿ them to excrting team building activrties and pur￿Selu1 and rewaiding life skills training. We all look forward lo contsnuing the chanlat4e work with young people localty. and intemational communities around the worfd as we enter our 801h year. A year which is being celebrated throughout 2023. We habe a varied progralnrne of anniverswy events such as donating our records to the local archive (The Keep), h05ting a elebration at the Houses of Partiament in June. and wekoming the Alliance volunteering de￿gateS to a birthday convention in September at the Sussex Cric*et groLmd in Hove. I Caplin CONCORDIA (UK) LIMITED TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees present their annual report financial statements for the year ended 31 Decernber 2022. The financial staiemenis have been prepared in accordance ￿th the accounting policies set out in note 1 to the finanaal staternents and ct)mply wrth the charitable company5 Memorandum and Artides of Association. the Companie5 Acl 2006 and 'Accounting aThJ RepcffDng by Charities". Slatemenl of Recrynmended practi￿ ap￿IGable lo charities preparing their accgunis in aco)rdance wth the Finanryal Reporting Standard applicable bn the UK an Republic of Ireland IFRS 1021 (effeclive 1 January 2019}". CONCORDIA Charity Concordia's principal aclNity Is to operate as a charitable or9anisation- providing and promting emFloyment, skills and volunleer Plogfammes f￿ people all over Ihe UK and the worfd. Ifision Aworld whgre people can fulfil their potentsal. Mi5¥10n Ouf Mis￿on is to support people to develop skiNs and gain experiences that Ihey need in order to thrive. In an ¢)ften unsiable Y40rld. it can be difficult f￿ people io develop the skims an(J expertise to Ihrive. OLff varied programmes give peO￿e from different backgrounds the opportunity to discover new skills, places. people. opportunities and experiences. that they ¥￿1￿ othen¥ise not have explored. As a partner of the National Skills Builder Programme, our programmes imwo¥e our ser¥ice use¢s transferable skills that boost their self-confidence. Our work as a charity suppl￿5 si¥ Core seNices' 1. Emotional Wellbeing Progrnmme IEWPI - Suppo￿ the positive wellbeing of young people in secondary sthools across Sussex. 2. Concordia Youth Action ICYAI blended volunteering that enables young people aged 14 10 19 In Sussex to engage with Iheir local ￿mmmunity through wular volunteering and skills sessions. 3. National Citizens Service INCSI - a govemment fvnded scheme to encowage young people aged 1&17 tn England to become more acttve in their k&91 communitres. Intemational Volunteering IIVI- support5 people of all ages to undertake meaningful and kjcally drtven volunteering projects w0d￿l￿e. either individually or as groups. 5. Seasonal Workers Programme ISWPI- provides ethical work placement OFPOrtunrties on UK farms lo foster crosscuttural understanding be￿leen citizens all over the wortd. We onty use agricurtural ruitment speualists, all ol whom have a GLAA licence. We also run cwJr annual Agents, C(￿ferenCe in Aulumn, lo review how the season has gone. Concordia worters pay no lees to Concofdia or its agents during the recruilmenl ocess. Concordia has worked with growers ￿nce 1943. giving us unrivalled knowledge of seasonal hOrt￿U11￿re work placements. Given our prominenl pO￿ty0n in the industry. Concordia is a trusted partner of. and regularfy feeds into, the Nabonal Farmers Union {NFUI. GLAA and Defra. This means ihat we are ￿ a prime poytion to make sure that our ne￿ork of growers has a vcAce at the highest level. Our Concordia Youth Aclion wo9ramme is a blended volLmtewing lonlofflinel programme that $upport5 young people to engage wilh their IC￿81 community and leam skills. Launched in 2020. it ena￿eS young people to engage in the communrty, do good, make new friends and learn new skims. The delivery in 2021 conliThJed lirl¢ing the young people to cDmmunity needs, ddiverirKJ 465 hc¥Jrs of youth action. wthing Mrith 52 youThJ people and dozens of local charity partners. ACHIEVEMENTS & PERFORMANCE The key operating objectives and outromes fty Ihe yw io Oe¢embef 2022 induded delivering our charitable objectrves through.. Delivering Seasonal workers programrnes. Concordia continued to prowde ethical WO￿ placement opportLmitres ￿ UK farms to EU and noTrEU nationals. In 2022 we supported 9,773 people from maie than 20 countries. enat4ing more peO￿e to come to the UK to leam skills, gain work experience and eam an inc(Kne. Delivering National Citizens Ser¥ice in Susse In 2022 618 youn9 people partiupated in Ihe NCS programme through cc￿cordIa. We've invested 17,340 hours in sooal action raising £9,282.53 for local ¢auses. CONCORDIA (UK) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Ddlvtring lrtal yOLth action prngrammes. In 2022 we deliVe￿d 751 hours of youth action. wowking 151 young people and dozens of local chaTty partners. As an official partner of the National Skills Builder Programme. ovr CYA pm9rammes Improve participants transferable skims, support engagement and improvernenl of the local comrnunity. and develop cth"zenship. Delivering emotional wellbeing pro9wammes. We are proud to work in c0llatm)rati￿ with kKal schools to support ￿ wekning of ytyjng people aged 11-14 in the Sussex area with our free service. In 2022 we delivered our emoti￿81 wellbeing prograrnme to 255 young peoplè wth 341 hours of ddivery. 9D°h of our pre & post ev￿￿ation sla¢ements received a pgwbve change which demonstrates a collective positive impact ￿ the young people attending the programffe_ OÈllYerlny Intemational vOlunt￿1n9 programme We sUPPOrted Ihree volunleer5 in Ihe UK in 2022 supported 11 UK vc&Jnteers to iravel overseas. All these programmes were in line with COVID guiddines and travel permtssions at Ihe b"me. These operab'ng objectives relate to the ac11￿be$ above and provide ihe way in whith we achieve ovr tharTtable obj'ectives. STRATEGIC OIRECTION & FUTURE PLANS Strategic Oiiection Concordia is continuajly stn'ving to be an even better th*ity. In 2020 we launthed our new fi¥&year strategy to ensure we can support more peop￿. more effectwely to develop skills and gain experiences so that they can thrive. We are a￿ayS looking for oppjrtunilies to develop and expand our programmes. We a¢m lo create and deliver impactful programmes that respond to local needs & support people to gain skdls, WO￿ expenence or empbyment opportunrties. Be a leading tharty that promotes suppNts to have intercyjltural experience5 and journey5. Be a financialty resilient tharity with a broad range of income streams that svpport the delivery of our purpose. DelNer excellence ￿ inter￿AUra1 eXpe￿nCeS Jwmeys that injty impacl wr seThice users. Be the ethical leaders in interuJltural expen'ences and pumeys. Support more people to have lrf&changing inter0Jliur￿ experiences and ioumeys. Wtsrk in cdlaboration partn•rstr￿p with othets to athieve our ¢h•ritsbbe PLKWSe. CONCORDIA {UK) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Future Plans Our ￿an$ for 2023 locus ort our six Strateg￿ theme$". 1. Be a leading charity that promoles and supports people to have InIer￿ltural experience5 and jtsurnéys. a. Focus on stafl training lo bemer equip our team to deliver on our nv4V Strategy. b. Support staff through our EM￿oYee Assisted Programme with everything they may be facing at work. and in their home life. . Continue to development our key IT systems, sofvare. and lech to better support people on programmes. 2. Be a financially resilient charrty with a broad range of income streams that SUPF#)rt the delivery of our purpose. a. Broaden our charity's reath and scope to diversrfy our programmes. b. Expand our fundraising activities to expand our youth programmes. 3. Deliver excellence in intercuttural experien￿5 and journeys that Iruty impad (YJI service usets. a. Focu5 Qn improving our programme evaluation and Impact measure lo Improve our prograrnmtr$. b. Refresh our tr81ning offer for partiopants of our seasonal worker5 programme. 4. Be the elhical leaders in intercultural experiences and joumeys. a. Work acTQSS the sectors we operate in to improve Ihe expenences of all our benefvarie5. b. Further improve our evaluation and contsnuous improvement proc£55es to deliver the best possitrje programmes to all parbcipants. 5. Support rrore people to have life changing interc￿1[￿ experiences and joumeys. a. Focus on inc¥eas¢ng our resources and capacity to deliver ovr I￿81 y¢xrth proyrammes- CYA and Emotional Wellbeing Programme. b. Continue lo expand our nthork of tsrms lo SUPFOrt more partD"pant5 to corne to the UK lo leam skills. gain work expenenee and eam an income in the UK. 6. Work in collabofati¢n and partnership with olhers to achieve our tharitable PLWWSe. a. Prioritise working wTrth other5 to improve our wograrTwTre5, exwd our reach and ifflprove for all our beneficjanes. FINANCIAL REVIEW Results Total inconwng resources fcK the year were £2,820.34812021". £3.201,121}. The net defiai for the year was £20.254 12021. net surplus £431,406). Ir￿uding a loss on investments of £131.937 12021 gain £78,126). Principal funding was from fee income and lunding through the NCS conlract. enabling the suppNt and provision of opportunitie5 to volunteer and work in areas that fulfil Concordia's objectives. The finan(ial results are set out in the slat9m￿t$ below. Fund$ a Gèneral Reser4e Poliey A policy of keeF¥￿5 general ieserves al 55-70% of antiopated annual expenditure was agreed in November 2019 and general reserves were within the poliry range al 64% 12021 60% of anticipated annual expenditure). Sums in exos5 of the General Reserve pc4icy are available for future investment. At year end the total fund5 held were £2.147.032 12021 £2,167.2861 and of Ihis the General Reserve was £1.751.13012021 - £1,692.7341. CONCORDIA IUK) LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Inv•stm•nt Poli¢y CMcordia's investment pjh'cy wa5 updated during the year. The pc4icy acknowledges the fast-changing environment and takes a pragmatic approach and dwects excess funds towards assets thal will satisfy four prinopal objectives.. 1. Enable income and capital preservation. in Ihe near-iem and medium-tem. 2. Enable income and capital growth. in the lon*lerm. 3. Aet as enhanced reserve supplement by prowding liquidty and CaSP￿fi0W buffer, with exr£ss eash reserve5 automaticalty ￿inVested to generale superior retums.. and 4. Minirnise key finanoal risk- market, fi(widity. tax, valUat￿n and concentrab.on risk via diversffication and active monrtoring. Investment management a¢tNilies are ddegated to Ihe Finance Committee. No direct investments are to be made in entities in embargoed oi sanctioned countries, per the govemment's website. The policy is reviewed annually. Risk Management Concordia's risk management wocesses are t)ase(l ￿ three lirw of defence and span Several layers of ihe organisation, namely". Operational Owner (1st line of defencel Senior Mana9ernent12nd line of delenGel The Finance Commitiee. 8oard. and Exlernal Auditor13rd h.ne of defence} Pr￿eSseS and conlrol$ are defined iM￿¢M¢￿ted to ensure our Fisk management processes remain adequate, CoMp￿henSlve and indu5ive (al an operational and strategie lat the Board and extemal stakeholder level). Impact of activities, relationships and ownership are ftAly fadofed into ihe risk assessmenl and management processes. Concordia maintains a risk register. which is reviewed quarterly by the senior managemenl team before ￿VIeW by the Finance Committee. There is an annual full review ol the risk register. ￿d￿dIng manager ovffled risks, with the Chair of the Board. The risks are identrfied, rated in temis ol severity and likelihood. Iracked lor mtsvements from the preceding period. re¥iewed and ratified. They are Ihen summarised for a f¢Jl Board ￿VIeW (which is conducted annualtyl. An assessment by the Finance Commrttee confimie¢J that ConC￿dia ￿MaInS broad with respect to identificatson ol strategic. operatsond, finantsal c¥ iegulaic¥y risks and time-sensitsve with respect to dosure of those risks. Other organisational ¢ontrols embedded in¢kJde: Rigartyjs finan¢)al planning. bvdgety.ng management a¢counts"ng procedures Documented pollcies and procedwes, dew aLthorisation and approval leve15 8oar&approved rKganisational strudure wrth dèar linès of rep(xl]"rvJ Comprehensive vetb.ng wocedures {as required by lawl Third party professional indemnity insurance {wo¥Kled Direcl¢ys) Docjjmenied BU￿ne$S Conb"nurty Plan and Recovery Stralegy. Printspal risks identified indude the fvture lerms under which part￿pantS will be at4e to attend Concordia's work programmes after the UK ￿ the European Union in 2021 and the ability to attract suitable partlUKAnts to programme opportunities in the future. In December 2021 Ihe Seasonal Workers Programme was ¢onfirmed until December 2024. This prtsvides 3 years of guaranteed fu￿re income. We recogni5e ihat future financial perforniance is dependent on our ability to mits.sate potents.al irnpacts or explore newer source5 of income. To Ihis end. Concordia is very aclive on the extemal landscape contribub.ng lo policy debales. and in exiemal media ctywersalions. Ccv)cordia ￿m￿n$ committed to maintaining mbjst sysths and contrc4s and demonstrate best-in-dass operational risk management capabilities. CONCORDIA (UK) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 STRUCTURE, GOVERNANCE & IAANAGEMENT Constitution The Goveming Oo(yJment of the company is the Artides of Assoaation. The company is limrted by gLArantee and had no share capital. On wn¢Jing up, ead) person who is a member during the year prior to thai ¢Jate is lia￿e to contribute a sum not exceeding £10 toward5 the assets ol the company_ At 31 DeGembeT 2022 the wmpany had len members 12021 81 all of whith are Trustees. Each member has three role5. being a member of the Company. being a direclor of the company and ts￿n9 a trustee of the tharity. The Trustees. who are also Ihe direclors for the purpose of ccmpany law, and who seryed during the year and up to the date of signature of the finanoal slatements we￿- Mr J Ogden (Resigned 22 June 20221 Mr T Fimiston (Resigned 22 June 20221 Mr S Piccaver Mr I Caplin Ms J Bond Mr V Tsochev Mr D Pullen Ms E Alku Is C Dean Mr D James $ F Lambert MrA Moran fvlr M Naylor (Resigned 4 July 20231 {Resigned 22 June 20221 (Apprynted 22 June 20221 {Appointe(J 22 June 20221 {Appointed 22 June 20221 {Appointed 22 June 20221 IAppouited 22 June 20221 Financ8 Commrtt8e Mr D James, Mr S Piccaver, M5 C Dean. A Moran Human resources & Operai?ons Committee Mr D Pullen, Ms E Alku. Ms J Bond. Ms F Lambert. M Naylor Remunerafvons Committee Mr D Pullen and Mr D James Organisational Structure The company is governed by the Board of DIrect￿S, vthith met three limes in 2022. The Board is ￿SponSible for the overall management and control ol the corryany, assisted by its four Committees. The ftyJr committees of ihe Board are.. Human Res￿ree$ & Operations Committee (HR&Opsl, which met three b.mes during the yeaf. It currentty consists of five trustee5 and the Chief Executive. It may also be attended by the Board Chair ex officio. Finance Committee. vthith met four tsmes during the year. li CUrren￿Y consists of five trustee5 and the Chief Executive. It May also be alten¢Jed by the Board Chaif ex offioo. Reffluneration Commiltee. whKh c￿siStS olthe Chairs of the Board. HR&Ops. Finan￿ Cornmittee. Nominations Committee, which consists of the Ch&rs ofthe Board. HR&Ops. and Finance Committee. Day to day matters are handle¢J by ihe Chief Execulive and the Senior Management Team. The S￿ff team are organised into four teams.. the Seasonal Workers Team. Ihe Youih Programme5 Team, the Fundraising and Marketin9 team, and the Finance & IT leam. The Staff leam have Iwo working groups The Equity. Diversity and Indu51¢￿ Working Group and the Staff Working Group. Staff remuneraiion is based on the Local Government NJC pay scales. widety used in the ¥duntary sector. Concofdia retained its Investots in People acueditation in 2022 and was awarded Sifver level acttedi1at￿tiTh in earty 2023. Trustee TraFning All new tFUStees follow a $iWUured indu(J]"on prc¢es5 arTrd receive Co￿eS of Con￿￿￿$0.$ Goveming Oo¢uments, together wth a handbook on the Role and Responwbilities of being a Tnjstee. In additK)n, Ihey are encouraged to attend extemal training seminars as appropriate. CONCORDIA (UK) LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2022 Recruitment and Appoinlment to th• Board of Twstees The Nominations Commiltee was established in 2021 to ¢wersee succession tAanning and advises the Board on all matters pertaining to Boafd appo¢ntments, including recommending appropriate recrurtment and selection methods. Particular regard is placed on the candidate5, relevant background and skills. Appoinlmenls are made by the Board. Candidates carn meet Dire(Xors and discuss the proposed roles and responsibilities and to learn about the ethos of the Ofyanisation. A Trustee Skills Audrt. undertaken ￿n￿ally. lorm5 Ihe basis for the future recrurtment ol trustees. No trvstee received any remuneration during the year. A5 a major part of our activrties is delivering tyjr season* workers prograrrwne in the UK horticuMLwal sector. Nvo of our tru51ees corne from this sect(y lo wovide usefvl knovAedge of the sector. Details ol their business transactions are disclosed in note 21 lo the Financial Staiemenis on Rdaled Party Transactions. No other trustee had any personal lnie￿st in any contract or transaLaK>n entered into by the thanty during Ihe year. Auditor In accordance with Ihe c4)mpanls artides, a resc4uts.cffj proposing Ihat Knill James LLP be reappc¥rted as auditor of the company will be put at a General meet￿9. Oisclosure of information to auditor Each of the Trustees has eonffirmed that Ihere is no inforrnation of whid) thty are aware which is Elevant to Ihe audit, but of which the auditor 15 vnaware. They have further confimed Ihai they have taken appropriaie steps to identify such ielevant infomiall￿ and to e$￿￿"sh thal the audtor is avrare ol SLth inf0mal￿n. The truslees, report was approved by the Board ofTrustee5. sJBond Truste• Oate.. ....... CONCORDIA (UK) LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 310ECEM8ER 2022 The Trustee& who are also the direraiys ol c1￿C(￿dia (UK) Limited for the pury)ose ot company law, are responsible for preparing the Twstees, Report and the finanaal statemeftls in accordance with aFylicable law and United Ksngdom Accounting Standards Iunrted Kingdom Generauy Accepted Accountsng Practicel. Company Law requires the Trustees to prepare ffinanLaal ststements for each finanual year which gwe a Irue and fwr view of the stste of affairs of the d)aritable company and of the intoming resources and appliralion ol resources. ￿e￿Iding the incrynÈ and expenditure. of the d￿lI13b1t cc¥hpany ftsr Ihat year. In preparing Ihese finanoal statements. Ihe Trustees are reqwed to.. - select suitatle accouniiro policies and then ap￿ them c￿￿Sten1ty.' - ctherve the methods and prinoples in the Chanties SORP: - make judgements and estimates that a￿ reawnable and wudent.. stale whether applicable UK Accounting Standards have been fdl¢)wed. S[￿JeCt to any material departvre5 disdosed and explainet1 in the finanual slatements; and prepare the financial statements on the going concem basis unless it is inatvropriale to presurne that th? charitable company wdl continue in operation. The Trustees are responsible for keeyng adequate accounting records that dtsdose wilh reasonable accuracy at any time the financial position of the charitable company and enable them to ensure thai the fin8nual statements comply wrth the Companies Acl 20(￿_ They are also responsible for 5afe9varding the assets of the chaiitable company and hence for takin9 reasonable steps lor the prevention and detedion ol fraud and other (rregularities. 10- CONCORDIA (UK) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CONCORDIA IUK) LIMITED Opinion We have audited Ihe finanoal siatefnents of Concordia IUKI Limited Ilhe 'charitat￿e company'l for Ihe year ended 31 December 2022 whth compnse the statement of finanual activities. the balance sheet, the slalenpnt ol cash flows and notes to the finanual staternents, Induding ygntsficant accounting FX)Iicies. The financial rEpO￿"n9 Ir#mework that has been applied in their preparation is appliCa￿e law and United Kingd¢)m Accoynting Standard5. including F￿nanCIal Reporting Standard 102 The Financial Reporting Standard applJ"cable the UK anrj RepubliG ol Ireland {United Kingdom Generally Accepted Accc¥Jnting Ptsct￿). In our oynion. the finan¢ial statemenls". give a Irue and fair wew of the slate of the charitable company's affairs as al 31 December 2022 and of its Incoming resources aThJ application of ￿sourCes. induding rts In￿Me and expenditure. lor the year Ihen ended, have been properfy prepared in accordance United Kingdom Generaly Accepted Accounting PraCts￿.. 8nd have been Pfepared in accordance wrth the requirements of the Ctsmpanies Act 2008. Basis for opinion We conducted our audit in accordance ￿th Internall￿81 Slandards on Auditing IUK) IISAS lu￿) and applicable law. Our responsibilibes unijer those slandarLls a￿ lurlher desLYibed in Ihe Auth'torfs ￿spOnstb1￿IteS for the audit of the financial st8tements sects'on of our report. We are independent of the charitatle company in accordance with the ethitsl ￿qUIrementS that are relevant lo our audit ol the ffinanoal statemenls in the UK. induding the FRC'S Ethical Standard. and we have ￿lfilled ¢xJr other ethical responsibilities in accordance with these requirements. We believe. Ihat the audit evidence we have obtained 15 sufficient and appropriate to provide a bays for our opinion. Cone5usion5 relatin9 to going concern In audrting the financial statements, we have condLvJed Ihat the twstees. use of the goiry concem basis of accounting in the preparati￿ of the f￿antial stalements is appropriate. 8ased on the work we have perfomied, we have not identffied any material urKertaintie5 relaling to events or )ndittons ¢hat, individuaty or collectsvety. may cast signfficant dwbt cffi the charrtable compan*s a￿"1[ty io continue s a yoing concem for a period of at least ￿efve monlhs from when the finanoal statements are authorised for 15sue. Our re$ponsibility"es and the responsibFA"ties ol Trustees ￿th respe(a to gory wnrern •re des¢7ibed in the relevant sections of this reporL Other information The other inforrnalion ¢onpnses the infowTWbab"on induded in the anwal repryt other Ihan the finartial staiernenls and our auditoff s ￿pOrt ther¢on. The Trustees are responsible for the other inforrnation ¢ontained within the annual report. Our opin10n on the financial statements does not cover the other information and. ex￿pt tts 11)e ex¢ent otherwise expiicstty stated in our report. we do not express any form of assurance condu5i9n thereon. Our respon&b"lily Is to read the other informats.on and. in doing so, conskler whether the other Inforrnation 1$ materially incons15tenl with the finanual slatements or our knowledge obtained in the course of the audrt. or otherwise appears to be malerially misstated. If we identfy such material inconsistenues or apparent material mtsstalements. we are reqtjired lo determine whether this gives rise to a material misstatement in the financtal statements themselves. If, based on the work we have perfomied. we ¢C￿th￿e that there is a material mi55talement of this other inform*ion, we are required to report that fact. We have nothing to rewrt ill thi5 regard. CONCORDIA (UK) LIMITED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OF CONCORDIA (UK) LIMITED Opinions on other mattefs prescribed by the Companies Aet 2006 In our opinion, based on the WO￿ undertaken in the coutse ol our audit= Ihe information given in Ihe trustees. report for ihe finanoal year for which the financial slatemenls are P￿pared. which indudes the directors, report preparetl for the purposes of company law, is consislenl wilh the ffinancial st*ements, and the directors, report induded within the Irustees. ￿port has been prepared in accordatKe with applicable legal requirements. Matters on Twhich we are fequired to report by exception In Ihe light of the knovAedge and understanding of Ihe charilabje company and it5 environrnent obtained in the course of the audit, we have not idenbfied material missiatements in the d¢rectors' report induded wrthin the trustee5' report. We have nothing lo report in re5peLt of the folowng matter5 in relat*Jn to which the Comp￿leS Act 20LK ¥equires us to report to ytju rf. in our opinion". ?dequale accountin9 records have not been kept, or retwn5 adequate for our audil have nol been received from branche5 not visited by us.. the fiftanaal statements are nol in agreement ￿th Ihe accountsng recoTds and retum5" 01 certain disclosure5 of trustees. remuneratyon speofied by law a￿ not fflade.. or we have not received all the infomats.on and explan*iLN)s we require for our audit,. L* the Truslees were not enlrtled to prepare the financial staiements sn accordance wilh Ihe smal companies regime and take advantage of the small ￿mpanieS. exempts.ons in preparin9 Ihe Iruslees. report and frorn the requirement to prepare a strategic reF* Responsibililies of Truste85 As eX￿ained more fully ￿ the statement of trustees, respot)sibilities, the Trustees. who are also the directors of Ihe charitable company for the purpose of company law. are respC￿SIble for the p￿paratIon of the finanual slalements and for being satisfied that they give a true and fair View. and for such internal control as the Trustees detemiine is necessary lo enable the preparation of financial statements that are free from material misstatement. whelher due to fraud or error. In prepanng the finanual slatemenls, Ihe Trustees are responsible for assessing the charitable company'5 atjility to continue as a gryng concern. disdosing. a5 applicable. matters ￿lated to going ¢oncem and Uslfig the going concefn basi5 of accounling unless the Trustees erther intend to liquidate the tharitable company or to cease operations, or have no realistic attemative twt lo do 50. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance abDuI whett)er Ihe financ4al ststemenls as a whc4e are free from material misstatement, whether dLJe to fraud or effor. and 10 1ssue an audiiorfs rep(Kt that indudes our opinion. Reasonable assurance 15 a high level of assurance bul is not a guaranlee that an audit ￿)nducted in awordance wlh ISAS IUKI wll ahyays detect a matenal misslalemenl when it exists. Mi5Statemen15 can arise from fraud error and are con51dered FnatÈrial rf. individualfy or in the aggregate. they could reasonabty be Èxptscted tD influence the economic deosions of users taken on Ihe basis of Ihese financial statements. Irregularities, induding fraud, are instances of ni)TrCom￿iance ￿th laws and wulalions. We design procedures in line with our responsibilities, ouljined above. to deted matenal misstatements in respÈet of irregularilies, including fraLtd. The oxl•nt to which our pr(Kedu￿$ are capable of det¢cbng irregLlarityes, induding fraL*d. ts detailed below. 12- CONCORDIA (UK) LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CONCORDIA (UK) LIMITED In #lentifying arKI assessing the risk of material mi5Ststsment in respecl of irregularitse$. induding fraud, we.. • obtained an understanding of the nature of the sectcw, induding Ihe ￿gaI and regulatory framewo¢K that the charitable company operates in and how the charrtable company complies wth the legal and regulatory framework," inqui¥eiJ ol management. and those chafged 7Mih govemance, about their own identiftcation and assessment of the iisks of irregulanties. induding any knovm adual, suspected or alkged instances ol fraud,. and discussed matters about I￿n-r￿MPlidn￿ wth laws regulations and hcrw fraud might occur including assessmeni of how ar￿ where the finanual slatements may be susrEptible to fraud. As a result of these procedures we consider the mosl significant taws and regulations that have a direct impact on the financial statements are FRS 102. Charities SORP IFRS 102), Companies Act 2006. Charities Act 2011. the charitable company's govern￿g document, and Charities (Protedion and Soc¥al Investment) Act 2016. We perfornied audrt pro￿UreS to detect n(*vcompliances which may have a matenal impact on the finanaal statements which included fevlewing the finanoal statements. induding the Trustees. report, remairing alert to new or unusual ITansacts'cns which may not be in accordance ￿th Ih¢ govemry dr￿ument. The most significant laws and regulatsons that have an indireL# impact on the finanual statements are Hearth & Safety, Employment law, lax legislation an¢J the UK General Oata Prolection Regulation (UK GDPRI. We performed audrt procedures to inquire of management and those charged wth govefnance whether the chariiable compèny is in Com￿lance with these laws and regulations and inspeaed correskhJnden¢e with reyulaw aulhofitses. We identified the risk of management override of contr(45 as the area whefe the financial statements were most susceptible to malerial misstatement due to fraud. Audit Fwcedures performed included, bul We￿ not limited to, testing manual jovrnal entries and other adjustments, evaluating the business fat￿nale In rdation to significant, unusual transactions and transacttons entered into outside the nonnal Coufse of business and challenging judgments and eslimates. Because of the inherenl limrtabcffjs of an audit. there is a risk that we not deted all WregUlari￿s. including those leading to a malerial misstatemenl In the financial statements or nowmpb'ance wilh regulation. This risk increases the more that compliance wth a law or regulaiioTh is removed from the events and Iransactions re11ected in Ihe financial statements, as we wll be less likely to become aware of instances of nonTrcompliance. The risk is also greater regarding irreguLirities ocrJJrnng due to fraud father than errof, as frnud invol¥es intentional concealment. forgery, collugon. omission crf rnisrepresenlati￿. A further description of our respC￿sIt¥.lrtles is available On the Finanua Reptirtin9 Counol's website at.. https'./l www.frc.0rg.ukjauditors￿SpOnS1bI1ties. This desuiption form$ part of our audiiorf$ iew. USÈ of this report This report Is made solety to the charilable Cl￿panY'S members, as a brmty. in acc(¥dance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been Undertaken so that we might state to the tharilatrje company's members those mattefs we are required to state to thern in an audrtors. report and for no other purpc6e. To the fullest ex¢enl permitted by law. we do not a￿epI or assume fesptsnsibilrty to anyone other than the charitable company and the charrtable compan*s membws as a body. fw our audrt work. for this rewt, or lorthe opinions we have formed. LLP Mark Filsell FCA (Senior Ststuiory Audilorl for and on behalf of Knill James LLP Chartered Accountants Statutory Auditor One Bell Lwe East Sussex 8N7 1JU 13- CONCORDIA (UK) LIMITED STATEMENT OF FINANCIALACTivrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Unreslricted lunds funds 2022 2021 Notes Donations and grants Charitable activities Investments 11 2,772.696 47.641 44,015 3.116,537 40,569 To¢al incorne 2.820.348 3.201.121 Charrt8ble actNities 2.708.665 2.847.843 Net gainslllossesl on in¥e5tments 1Q {131,937) 78.128 Net movefflent in funds 120.254) 431.4C Fund balance5 al 1 January 2022 2,167.286 1,735.880 Fund b•lancts at 31 Oecember 2022 2.147.032 2.167,286 The stalernent of fw)anoal activi￿$ indudes all gains and loss¢$ recognised in the year. All income and expeThYtlure ¢Jerive tr¢)m contirwing acbvitre$. The statement of financial adivibes also complies the requwements for an income and expenditure account under the Companies Act 2LVA. 14- CONCORDIA (UK) LIMITED BALANCE SHEET AS A T 31 DECEMBER 2022 2022 2021 Fix•d as$•ts Intangible assets Tan9ible a55ets Investment5 11 12 13 131.269 1.823 I,1￿.353 123.786 3.647 1.274,659 1.323,445 1.402,094 cur￿￿t o$$ets Debtors Cash at bank and in hand Is 359.304 725.323 542.543 735.053 1.084,627 1,277,596 Creditovs: amounts f•lling due within on¢ yéar 16 (261.040) {512.404) Net current asset5 823.587 765.192 Total assets less current liabilities 2.147.032 2.167.286 Income funds Unrestricted funds 2.147.032 2.167.286 2.147.032 2.167,286 The financaal statements were appro¥ed by the Trustees on .......... . ... on Trustee Company registration numbtr 381668 15- CONCORDIA (UK) LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Cash flows from operating a¢ti¥iti Cash generated from opernb.ons 21 25.￿6 117.318 Investing activities Pufch85e of inlan9ible asse Pvrchase of investments Investment income recei¥ed {35.6461 {47.6311 47.641 168,647) 140,5681 40,569 Net cash us•d in investing activities (35,636) 168,6461 N•t Cash in finan¢ing •¢tiviti•s Net Ide¢reaseVincrease in cash •nd cash oqurvalents {9.730) 48,672 Cash a￿1 cash equivalents at beginning of year 735,053 686,381 C•8h and cash equivalents at end of year 725,323 735,053 16- CONCORDIA (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity information Concordia IUKI Limited is a tvivate company limited by guwanlee incorporated in ENJland and Wales. The rewstered office is 19 North Street. Portslade, East Sussex, BN41 1 DH. 1.1 Acc•untSng convention The financial statements have been Prepared in accordan￿ with the charitable cornpany's governing document, the Companies Act 2LK)6 and "AtttrJntiny and Reporting by Charities". Statement ol Recommended Practice ap￿iCa￿e to charib'es preparing their accounts in accordance with the Finanaal Reporting Standard applicaile in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191" The charitable company is a PU￿1¢ Beneffit Entity as defined by FRS 102. The financi?1 sl*ements are prepared in steding. wlwth is the currency of the charitable company. Monetary amounts in these finanual slatemenis are rrAJnded to the nearest £. The financial staternents have been prepared LwKler the h￿t(¥￿al wnvenlion, modified to indude certain items at fair vaue. The prinapal accountwig polities adopted are set out bekw. 1.2 Going concern The fin3ncial siatemen(s have been prepa￿d on a going concern basis as Ihe trustees believe that no uncertainties exis¢ that would cause the lailure of Ihe charity. The Injstees have considered the level of funds held and the expected income an expenditwe lor 12 months fr(Mn the 8Uthorisatirm of the ffinancjal statements. The budgeted InC￿e and expendilvre is suffioent the level of reser¥es lor Ihe tharty to be able to continue as a 90ing concem. 1.3 Charitable lunds Unrestricled ftjnds avadablè for Lbse at the discxebffi of Ihe Trusites in furtherance of thèir charitablè objectives. Restrided fijnds a￿ yjbject lo Speci￿ conth11c￿$ by donors as to how they may be used. The purposes and uses of the ￿strIcted funds are sel oul in the noles to Ihe financial statements. 1.4 Ineome Income is rec&3nised vhTen the th*itable company is le9ally entilted to it after any performance condition5 have been met. the amounts can be measured rdiabty. and it is prgbable that income will be received. Fees receivable represent the wnoynt derived from the provision of services whith fall wilhin the company's ordinary activities slated net of value added tax_ Amunts rece*vable in respect of de￿$11 interesl and dividends a￿ aCr￿Unted lor on an acryuals basis. Cash donations are recognised on receipt. Other donations a￿ recognised once the charitable company has been noiiffied of the donation. unless performance condth'ons require deferral of the arnount. Income tax reujverable in relation to donab'ons received under Gift Aid ot deeds of covenant is recogniset1 at the time of the donation. Legatses are recognised on receipl OT Othe￿iSe rf the charitable company has been notified of an wnpending distribution, the amount is known, and receipt is expeded. If the amount is not known. the legacy is treated as conkn'ngent asset. 17- CONCORDIA (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) Grants are recognised on receipt or vA)en the tharrty be¢tynes unconditionally entitled to the grant and the amount Can be quantifie