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2023-12-31-accounts

Charity registration number 305991

Company registration number 381668 (England and Wales)

CONCORDIA (UK)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CONCORDIA (UK)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr S Piccaver
Ms J Bond
Mr D Pullen
Ms EAlku
MsCDean
MrDJames
Ms F Lambert
Mr A Moran
Chief Executive MrsVLawrence (appointed 6 November 2023)
Mr S Bowyer (resigned 11 August 2023)
Senior Management Team
Head of Finance & IT MrIHamer
Head of Operations Ms K Goode
Head of Youth Programmes MrVPetersson
Head of Marketing and Communications MsKQuick (resigned 7 August 2023)
Charity number 305991
Company number 381668
Principal address 19 North Streeet
Portslade
BN41 1DH
Registered office 19 North Streeet
Portslade
East Sussex
B N 4 1 1D H
Auditor Knill James LLP
One Bell Lane
Lewes
East Sussex
BN71JU
Bankers Metro Bank PLC
One Southampton Row
London
WC1B 5HA
Solicitors Mayo Wynn Baxter LLP
44-46 Old Steine
Brighton
East Sussex
BN1 1NH

CONCORDIA (UK)

CONTENTS

Page
Chair's Statement 4
Trustees' report 2 - 7
Statement of trustees' responsibilit es 8
Independent auditor's report 9 - 1 2
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 1 6 - 2 9

CONCORDIA (UK)

CHAIR'S STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2023

During 2023 Concordia celebrated its 80th year as a charity, having supported an estimated 750,000 people since being founded in 1943. We held a varied programme of anniversary events such as donating our records to the local archive (The Keep), hosting a celebration at the Houses of Parliament in June, and welcoming Alliance volunteering delegates to a birthday convention in September at the Sussex Cricket ground in Hove.

Alongside the celebrations there were some significant changes. The Chair Ivor Caplin resigned and the CEO Simon Bowyer left for a career change. During this period the Board interviewed and elected me to be the Acting Chair. I am hugely grateful to the trustees for their time and additional commitment to the staff team and Concordia during 2023. In particular the two Committee Chairs, and acting Vice Chair for their expertise and efforts in support of me, ensuring that we managed this period of change effectively. I am pleased to announce we undertook a thorough recruitment process which resulted in our new CEO, Victoria Lawrence, starting in November 2023.

The staff team was exceptional, recruiting and supplying 8936 participants from 22 countries to 138 UK farms, reaching 250 young people on our two NCS programmes, delivering our Emotional Wellbeing Programme in 5 schools reaching 334 pupils, and supporting 106 volunteers. We were successful in two contracts for National Citizen Service -- the open to all community fund, and the targeted activity programme. This enabled Concordia to work with young people in the Brighton and Hove and wider Sussex area, introduce them to exciting team building activities and purposeful and rewarding life skills training. We continued to work with key partners and government agencies, being a key voice in the Seasonal Workers Task Force.

2023 also presented a significant financial challenge, ending with a net deficit of £119,726 due to a predicted income stream not bearing fruit. The board agreed to fund the deficit through Concordia's financial reserves. SMT have worked hard on a package of savings for 2024 and the Board made the difficult decision to end the Emotional Wellbeing Programme (EWP) for local young people; a well-received post-pandemic response when Concordia was running a surplus. EWP was 100% dependent on Concordia funding and despite efforts during earlier years resourcing was not sustainable.

During the start of 2024, the Board and CEO have focused on sustaining Concordia's future. We have undertaken a process of strategic review, involving staff and external experts, to create a three year transitional strategic plan for the organisation. We have also reviewed and replaced our Articles of Association. We are also committed to retaining the Silver Level Investors in People Standard, remaining a good employer for our staff team and investing in their development.

CONCORDIA (UK)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)".

CONCORDIA

Charity

Concordia is a charitable organisation, providing and promoting employment, skills, and volunteer programmes for people all over the UK and the world.

Objectives

Our objectives, and legal purpose, as set out in our Articles of Association, are :

All these objectives were met in 2023 through the delivery of our key programmes. The objectives are underpinned by an operational plan for each of our programmes, which are reviewed at Committee and Board level.

Activities

We achieve our objectives and legal purpose through key programmes which are open to the public. The Board of Trustees, being also the Board of Directors, confirms that it has had due regard to the public benefit guidance published by the Charity Commission.

Employment programmes that prioritise people over profit

Within the Seasonal Workers Scheme (SWS), Concordia is a government-licenced recruiter of seasonal labour for the UK agriculture and horticulture industry. We work with Concordia audited and registered agricultural recruitment specialists, all of whom have a GLAA licence.

Concordia has worked with UK growers since 1943, and this experience has provided us with unrivalled knowledge of seasonal horticulture work placements. Concordia works closely with the National Farmers Union (NFU), GLAA, Home Office and Defra.

Concordia has a dedicated welfare support team which offers support when needed to all Concordia sponsored workers, Concordia has a pastoral fund available to assist workers in emergencies. Concordia has a designated Anti Modern Slavery lead.

Workers placed by Concordia pay no fees to Concordia nor to its agents.

CONCORDIA (UK)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Youth programmes empowering communities and individuals

Concordia is a Delivery Partner for the National Citizen Service programme (NCS) in the Sussex region. NCS is an experience available to all 15-17 year-olds in England to encourage young people to become more active in their local communities and develop their skills. We align our activities with the Skills Builder Framework, to help young people get ready for their next steps both inside and outside of traditional education.

Our international volunteering programme supports people of all ages to undertake meaningful and locally driven volunteering projects worldwide, either individually or as groups. As a member of two large international volunteer networks, the Alliance of European Voluntary Service Organisations and the Committee for International Voluntary Service Organisations (CCIVS), we work to ensure quality standards for all placements.

During 2023, our Emotional Wellbeing Programme, established as a post-COVID response, supported the positive wellbeing of young people aged 11-14 in secondary schools in Sussex. Our 11 week programme helped young people understand their emotions, build an emotional toolkit, grow their self-esteem and foster healthy relationships.

ACHIEVEMENTS & PERFORMANCE

The key operating objectives and outcomes for the year to December 2023 include delivering our charitable objectives through:

Seasonal workers programme

Concordia continued to provide ethical work placements on UK farms to foreign nationals. In 2023 we supported 8,936 people from 22 countries, enabling these people to come to the UK to work on138 farms to earn an income, gain experience and learn skills. We carried out audits on all farms to ensure that welfare and working standards all meet our requirements.

Delivering international volunteering programmes.

During 2023 Concordia supported 52 UK volunteers to travel overseas and hosted 54 international volunteers in the UK. In total, we sent and hosted volunteers from 22 different countries.

National Citizen Service in Sussex.

In 2023, 250 young people participated in the NCS programme through Concordia. We supported young people to invest 8448 hours through skills workshops and youth led social actions for local causes.

Delivering emotional wellbeing programmes.

In 2023 we delivered our emotional wellbeing programme to 334 young people in 5 schools, consisting of a total of 407 hours of delivery. 90% of our pre- & post- evaluation statements registered a positive change, demonstrating the collective impact on the young people attending the programme. This successful programme was implemented as a time-limited post-COVID response and we brought it to an end in early 2024.

CONCORDIA (UK)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

STRATEGIC DIRECTION & FUTURE PLANS

Strategic Direction and future plans

During 2024 we are carrying out a thorough strategic review, involving staff and external experts, to ensure we can continue to work effectively to support people to earn income, develop skills and increase cross-cultural understanding through positive experiences.

Our plans include:

FINANCIAL REVIEW

Results

Total incoming resources for the year were £2,586,765 (2022: £2,820,348). The net deficit for the year was £119,726 (2022: net deficit £20,254), including a gain on investments of £17,989 (2022 loss £131,937). Principal funding was from fee income and funding through the NCS contract, enabling the support and provision of opportunities to volunteer and work in areas that fulfil Concordia's objectives. The financial results are set out in the statements below.

Funds & General Reserve Policy

Concordia's policy is to keep general reserves at 55-70% of anticipated annual expenditure and general reserves were slightly below the policy range at 54% (2022 - 64%) of anticipated annual expenditure). Sums in excess of the General Reserve policy would be available for future investment.

At year end the total funds held were £2,027,306 (2022 - £2,147,032) and of this the General Reserve was £1,501,805 (2022 -£1,751,130).

Investment Policy

Concordia's investment policy acknowledges the fast-changing global environment and takes a pragmatic approach, directing excess funds towards assets that will satisfy four principal objectives:

Investment management activities are delegated to the Finance Committee. No direct investments are to be made in entities in embargoed or sanctioned countries, per the government's website. The policy is reviewed annually.

CONCORDIA (UK)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Risk Management

Concordia's risk management processes span several layers of the organisation, namely Chief Executive Officer,

Senior Management,

The Finance Committee, HR and Operations Committee, Board, and External Auditor.

Processes and controls are defined and implemented to ensure our risk management processes remain adequate, comprehensive and inclusive (at an operational level) and strategic (at the Board and external stakeholder level). Impact of activities, relationships and ownership are fully factored into the risk assessment and management processes.

Concordia maintains a risk register, which has been thoroughly reviewed and updated by the incoming CEO together with the Senior Management Team. It is also reviewed quarterly by the senior management team before review by the Finance Committee. There is an annual full review of the risk register with the Board. The risks are identified, themed under Governance, Operations, Strategy, External/Environmental, Financial and Regulatory/ contractual, rated in terms of severity and likelihood, tracked for movements from the preceding period, reviewed and ratified.

Other organisational controls embedded include:

A principal risk is the future of the Seasonal Workers Scheme, which is currently only confirmed until 2029. We recognise that future financial performance and organisational sustainability is dependent on our ability to mitigate potential impacts or explore newer sources of income.

Concordia remains committed to maintaining robust systems and controls and demonstrate best-in-class operational risk management capabilities.

STRUCTURE, GOVERNANCE & MANAGEMENT

The Governing Document of the company is the Articles of Association. The company is limited by guarantee and had no share capital. On winding up, each person who is a member during the year prior to that date is liable to contribute a sum not exceeding £10 towards the assets of the company. At 31 December 2023 the company had nine members (2022: 10) a of which are Trustees. Each member has three roles, being a member of the company, being a director of the company, and being a trustee of the charity. During 2024 the Board approved the adoption of a new set of Articles, utilising Shakespeare Martineau solicitors.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr S Piccaver

Mr I Caplin (Resigned 4 July 2023) Ms J Bond Mr D Pullen Ms EAlku Ms C Dean Mr D James Ms F Lambert Mr A Moran Mr M Naylor (Resigned 2 April 2 April pril 2024)

(Resigned 2 April 2 April pril 2024)

CONCORDIA (UK)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Finance Committee Mr D James, Mr S Piccaver, Ms C Dean, A Moran

Human Resources & Operations Committee Mr D Pullen, Ms E Alku, Ms J Bond, Ms F Lambert, M Naylor Remunerations Committee Mr D Pullen and Mr D James and Ms J Bond Nominations Committee Mr D Pullen and Mr D James and Ms J Bond

Organisational Structure

The company is governed by the Board of Directors, which met three times in 2023. The Board is responsible for the overall management and control of the company, assisted by its four committees.

The four committees of the Board are:

Day to day matters are handled by the Chief Executive and the Senior Management Team. The Staff team are organised into four teams: the Seasonal Workers Team, the Youth Programmes Team, the Fundraising and Marketing team, and the Finance & IT team.

Staff remuneration is based on the Local Government NJC pay scales, widely used in the voluntary sector.

Concordia retained its Investors in People accreditation and was awarded Silver level accreditation in early 2023.

Trustee Training

All new trustees follow a structured induction process and receive copies of Concordia's Governing Documents, In addition, they are encouraged to attend external training seminars as appropriate, online training modules and relevant in-person training.

Recruitment and Appointment to the Board of Trustees

The Nominations Committee oversees succession planning and advises the Board on all matters pertaining to Board appointments and recruitment. Particular regard is placed on the candidates' relevant background and skills. Appointments are made by the Board. Candidates can meet Directors and discuss the proposed roles and responsibilities and to learn about the ethos of the organisation. No trustee received any remuneration during the year.

Delivering our seasonal workers programme

A major part of Concordia's activities consists of delivering our seasonal workers programme to the UK horticultural sector, and so two of our trustees who served during 2023 came from this sector, providing useful knowledge of the industry. Details of their business transactions are disclosed in note 20 to the Financial Statements on Related Party Transactions. No other trustee had any personal interest in any contract or transaction entered into by the charity during the year.

Auditor

In accordance with the company's articles, a resolution proposing that Knill James LLP be reappointed as auditor of the company will be put at a General Meeting.

CONCORDIA (UK)

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF CONCORDIA (UK)

Opinion

We have audited the financial statements of Concordia (UK) (the 'charitable company') for the year ended 31 December 2023 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:

give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

CONCORDIA (UK)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF CONCORDIA (UK)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

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 directors' report included within the trustees' report.

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

Responsibilities of Trustees

As explained more fully in the statement of trustees' responsibilities, the Trustees, who are also the directors of the charitable company for the purpose of company law, 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 responsibilities 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.

CONCORDIA (UK)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF CONCORDIA (UK)

In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud, we:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the charitable company's governing document, and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements, including the Trustees' report, remaining alert to new or unusual transactions which may not be in accordance with the governing document.

The most significant laws and regulations that have an indirect impact on the financial statements are Health & Safety, Employment law, tax legislation and the UK General Data Protection Regulation (UK GDPR). We performed audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these laws and regulations and inspected correspondence with regulatory authorities.

We identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included, but were not limited to, testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and challenging judgments and estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of this report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 1 6 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

CONCORDIA (UK)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF CONCORDIA (UK)

s. [Ia.s» 4« David Martin FCA (Senior Statutory Auditor) for and on behalf of Knill James LLP

Chartered Accountants Statutory Auditor

One Bell Lane Lewes East Sussex BN71JU

CONCORDIA (UK)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 11
Charitable activities 4 2,533,105 2,772,696
Investments 5 53,660 47,641
Total income 2,586,765 2,820,348
Charitable activities 6 2,724,480 2,708,665
Net gains/(losses) on investments 10 17,989 (131,937)
---·--------
Net movement in funds (119,726) (20,254)
Reconciliation of funds:
Fund balances at 1 January 2023 2,147,032 2,167,286
Fund balances at 31 December 2023 2,027,306 2,147,032

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CONCORDIA (UK)

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023 2023 2022 2022
Notes £ £ £ £ £
Fixed assets
Intangible assets 12 140,294 131,269
Tangible assets 13 49,160 1,823
Investments 14 1,264,185 1,190,353
1,453,639 1,323,445
Current assets
Debtors 15 331,328 359,304 359,304
Cash at bank and in hand Cash at bank and in hand 578,386 725,323 725,323
909,714 1,084,627 1,084,627
Creditors: amounts falling due within 16
one year 336,047 261,040 261,040
Net current assets 573,667 823,587
Total assets less current liabilities 2,027,306 2,147,032
The funds of the charitable company
Unrestricted funds 2,027,306 2,147,032
2,027,306 2,147,032
The financial statements were approved by the Trustees on _
wy,
Ms J Bond
Trustee

Company registration number 381668 (England and Wales)

CONCORDIA (UK)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Cash flows from operating activities
Cash (absorbed by)/generated from 21
operations (50,998) 25,906
Investing activities
Purchase of intangible assets (40,525) (35,646)
Purchase of tangible fixed assets (53,231)
Purchase of investments (55,843) (47,631)
Investment income received 53,660 47,641
Net cash used in investing activities (95,939) (35,636)
Net cash used in financing activities
Net decreaseincash and cash equivalents cash and cash equivalents (146,937) (9,730)
Cash and cash equivalents at beginning of year 725,323 735,053
Cash and cash equivalents at end of year 578,386 725,323

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Concordia (UK) is a private company limited by guarantee incorporated in England and Wales. The registered office is 19 North Street, Portslade, East Sussex, BN41 1DH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no uncertainties exist that would cause the failure of the charity. The trustees have considered the level of funds held and the expected income an expenditure for 12 months from the authorisation of the financial statements.

The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Fees receivable represent the amount derived from the provision of services which fall within the company's ordinary activities stated net of value added tax.

Amounts receivable in respect of deposit interest and dividends are accounted for on an accruals basis.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Grants are recognised on receipt or when the charity becomes unconditionally entitled to the grant and the amount can be quantified with accuracy. When donors specify that the grants given to the charity must be used in future accounting periods, the income is deferred until those periods.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Resources expended are recognised in the period in which they are incurred and are stated net of value added tax.

All the charity's costs are analysed as expenditure on charitable activities (note 7) being costs incurred by the charity in the delivery of its activities. These costs include both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs as included with Support costs in note 7a are those costs associated with meeting the constitutional and statutory requirements of the charity and include professional fees and trustee expenses incurred in governance of the charity.

All costs are allocated between the activities of the charity on a basis designed to reflect the use of the resource. The allocation between Operations and Volunteer projects is normally made on a direct usage basis or, but where this is not possible, on a personnel basis.

Staff costs (note 9) shows total payroll costs including employers' NI and pension contributions plus temping agency fees, training, and recruitment advertising.

Premises costs are costs relating to the office building such as rent and rates, insurance, utility bills, and the cost of depreciation of assets purchased after the office move.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired or created separately are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software & Database

Over 7 years

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

(Continued)

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Over the period of the lease Fixtures and fittings Over 5 or 10 years Computer and office Over 3 years Motor vehicles Over4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Asset purchases of £1,000 or over are capitalised. Asset purchases of less than £1,000 are individually considered for capitalisation by the Directors.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying amount of the fixed asset may not be recoverable

1.8 Fixed asset investments

Investments held as fixed assets are revalued at the bid price at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

Depreciation

The charitable company exercises judgement to determine useful lives and residual values of property, plant and equipment. The assets are depreciated down to their residual values over their estimated useful lives.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Other 11
Grants receivable for core activities

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Farm fees 2,418,909 2,329,144
Other fees 37,817 397,704
Volunteer projects 76,379 45,848
2,533,105 2,772,696

5 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 50,843 47,631
Interest receivable 2,817 10
53,660 47,641

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Charitable activities

Operations Volunteer Total Operations Volunteer Total
Projects 2023 Projects 2022
2023 2023 2022 2022
£ £ £ £ £ £
Staff costs 663,866 48,319 712,185 655,894 20,196 676,090
Depreciation and
impairment 37,394 37,394 29,988 29,988
Agency costs 1,025,189 1,025,189 1,136,545 1,136,545
Participant insurance and
visa costs 124,494 124,494 142,258 142,258
NCS 1,643 1,643 43,198 43,198
Travel 14,900 594 15,494 6,581 1,825 8,406
Volunteer project expenses 62,782 62,782 16,772 16,772
Advertising and marketing 25,832 1,141 26,973 12,801 4,372 17,173
Pastoral fund 14,874 14,874 8,465 8,465
Field Officers 15,546 15,546 9,607 9,607
Conferences and
roadshows 12,081 12,081 10,224 10,224
Motor costs 9,748 9,748 7,928 7,928
Training and recruitment 82,290 82,290 61,618 339 61,957
EWP 8,376 8,376 11,250 11,250
CYA 4,951 4,951
Bad debts 21,470 21,470 (1,591) (1,591)
2,026,214 149,276 2,175,490 2,081,909 96,361 2,178,270
Share of support costs (see
note 7) 306,703 222,096 528,799 296,689 214,844 511,533
Share of governance costs
(see note 7) 11,711 8,480 20,191 10,940 7,922 18,862
­
2,34 ,628 379,852 2,724,480 2,389,538 319,127 2,708,665

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

7 Support costs
Support Governance Support Governance 2023 2023Support costs Governance Support costs Governance 2022
costs costs costs
£ £
£		 £ £
£		 £ £
Staff costs 314,088 314,088 314,088
296,850		 296,850
Premises costs 51,091 51,091 51,091
80,536		 80,536
Computer services 91,716 91,716 91,716 91,716
85,377		 85,377
Legal and professional 20,361 20,361 9,690 9,690
Telephone 19,379 19,379 19,379 19,379
14,504		 14,504
Sundries 19,690 19,690 19,690 19,690
12,976		 12,976
HR services 675 675 675
2,109		 2,109
Printing, stationery,
postage & courier 3,945 3,945 3,945
3,702		 3,702
Equipment hire 1,982 1,982 1,982 1,982
2,299		 2,299
Bank charges and
Interest 5,872 5,872 5,872 5,872
3,490		 3,490
Audit fees 7,500 7,500 7,500 6,950 6,950
Accountancy 670 670 670 3,485 3,485
Board meetings 12,021 12,021 12,021 8,427 8,427
528,799 528,799
20,191		 548,990 548,990
511,533		 18,862 530,395
Analysed to
Charitable activities 528,799 528,799
20,191		 548,990 548,990
511,533		 18,862 530,395

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from employment during the year under review nor for 2022. No termination payments were made during the either year.

During the year under review, travel and subsistence expenses totalling £12,021 (2022 - £8,427) were reimbursed to and paid on behalf of Key Management Personnel.

Non executive trustee expenses totalling £2,324 (2022 - £1,899) were reimbursed during the year. Additional expenses paid on behalf of non executive trustees totalling £9,697 (2022 - £6,528) were paid during the year.

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

9 Employees

The average monthly number of employees during the year, calculated on a full time equivalent basis and analysed by function was:

analysed by function was::
2023 2022
Number Number
Direct Charitable - Operations department 13 10
Direct Charitable-Volunteers department 5 5
Support staff 7 7
Total 25 22
Employment costs 2023 2022
£ £
Wages and salaries 906,480 857,631
Social security costs 81,848 78,869
Other pension costs 37,945 36,440
1,026,273 972,940

The number of employees whose annual remuneration was more than £60,000 is as follows:

2023 2022
Number Number

£60,001- £70,000

The number of staff to whom retirements benefits are accruing under defined contribution schemes was 24 (2022 - 30).

Remuneration of key management personnel

The remuneration of key management personnel which is comprised of gross salaries, employers national insurance and pension contributions, is as follows.

2023 2022
£ £
Aggregate compensation 277,446 309,724
·---

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2023 2022
Gains/(losses) arising on: £ £
Revaluation of investments 17,989 (131,937)

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Intangible fixed assets

Intangible fixed assets
Software&
Database
£
Cost
At 1 January 2023 218,898
Additions - separately acquired 40,525
At 31 December 2023 259,423
Amortisation and impairment
At 1 January 2023 87,629
Amortisation charged for the year 31,500
At 31 December 2023 119,129
Carrying amount
At 31 December 2023 140,294
At 31 December 2022 131,269

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

13 Tangible fixed assets

Tangible fixed assets
Leasehold Fixtures and Computer and Motor vehicles Fixtures and Computer and Motor vehicles Total
improvements fittings office
£ £ £
£		 £ £
Cost
At 1 January 2023 80,690 28,449 449
252,366		 15,408 376,913
Additions 24,883 6,637 21,711 53,231
At 31 December 2023 105,573 35,086 252,366 37,119 430,144
Depreciation and impairment
At 1 January 2023 80,690 28,449 250,543 15,408 375,090
Depreciation charged in the year 1,823 4,071 5,894
At 31 December 2023 80,690 28,449 449
252,366		 19,479 380,984
Carrying amount
At 31 December 2023 24,883 6,637 17,640 49,160
At 31 December 2022 1,823 1,823

14 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2023 1,190,353
Additions 55,843
Valuation changes 17,989
At 31 December 2023 1,264,185
Carrying amount
At 31 December 2023 1,264,185
At 31 December 2022 1,190,353
---

The structure of the current portfolio of investments is as follows:

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15 Debtors

Debtors
2023 2022
Amounts falling due within one year: £ £
Trade debtors 122,950 153,060
Other debtors 904 76
Prepayments and accrued income 207,474 206,168
331,328 359,304

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023 2022
£ £
Other taxation and social security 75,640 62,609
Trade creditors 21,914 38,814
Other creditors 186 293
Accruals and deferred income 238,307 159,324
336,047 261,040

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £
General funds 2,147,032 2,586,765 (2,724,480) 17,989 2,027,306
Previous year: At 1January Incoming Resources Gains and At 31
2022 resources expended losses December
2022
£ £ £ £ £
General funds 2,167,286 2,820,348 (2,708,665) (131,937) 2,147,032

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CONCORDIA {UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19 Operating lease commitments

Lessee

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023 2022
£ £
Within one year 49,665 19,683
Between two and five years 213,632 63,72
In over five years 123,108 44,216
386,405 127,621

Lessor

20 Related party transactions

Transactions with related parties

The following Concordia directors are also customers of the company in their capacity as growers or agents;

Stuart Piccaver is a director of J E Piccaver and Co. who were invoiced £59,739 (2022 - £65,491) during the year for the supply of Concordia seasonal workers. At the year end the farm's account balance was £2,268 (2022 - £9,478).

CONCORDIA (UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

21 Cash generated from operations 2023 2022
£ £
Deficit for the year (119,726) (20,254)
Adjustments for:
Investment income recognised in statement of financial activities (53,660) (47,641)
Fair value gains and losses on investments (17,989) 131,937
Depreciation and impairment of tangible fixed assets 37,394 29,988
Movements in working capital:
Decrease in debtors 27,976 183,240
lncrease/(decrease) in creditors 75,007 (251,364)
Cash (absorbed by)/generated from operations (50,998) 25,906
22 Analysis of changes in net funds

The charitable company had no material debt during the year.