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REGISTERED COMPANY NUMBER: 12407737 (England and Wales)
REGISTERED CHARITY NUMBER: 1187549














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 January 2024

for

The Common Mission Project

The Common Mission Project






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 12

The Common Mission Project (Registered number: 12407737)

Report of the Trustees
for the Year Ended 31 January 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to create a network of mission driven entrepreneurs to work on some of our toughest societal challenges; from healthcare to energy, from national security to sustainability. We achieve this objective by delivering the academic "Hacking for X" programmes to universities across the United Kingdom, training university staff, students, government personnel and industry in methods to solve government problems at pace. The aim of the charity is to bridge the gap between government and society by engaging them to work on problems together and build the UK's national innovation base.

Public benefit
The Directors are confident that the charity meets the public benefit requirements, and they confirm that they have taken into account the guidance contained in the Charity Commissions' general guidance on public benefit where applicable.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity's activities include training university staff in problem solving methods and course delivery, designing and developing relevant content to support this academic course, to train government personnel in being a problem sponsor, to source government challenges and validate them for the courses, and to maintain and grow an alumni community who remain connected and enthused to government challenges.

FUTURE PLANS
The charity's future plans are to scale our academic programmes to every university in the UK, as well as develop programmes aimed at secondary students. We will achieve that plan by expanding into different government vectors; our programmes now include: Hacking for Ministry of Defence, Hacking for Police, and Hacking for Space.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and association of incorporation, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the net income or expenditure for the year. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in operation.

The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and that enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


The Common Mission Project (Registered number: 12407737)

Report of the Trustees
for the Year Ended 31 January 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Directors recognise their responsibility to identify the major risks to which the charity is exposed, to view these risks and establish systems to mitigate them.

Risk management is an ongoing process and the Directors are committed to regular reviews and a means of
understanding the disks to which the charity is exposed.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
12407737 (England and Wales)

Registered Charity number
1187549

Registered office
Chancery House
53-64 Chancery Lane
London
WC2A 1QS

Trustees
Mr A A B Brabyn
Mr O W Lewis
Mr A R F Roan
Dr A M Hawks Director

Independent Examiner
IMG Chartered Accountants
& Business Advisors
Endwell Chambers
6 Endwell Road
Bexhill on Sea
East Sussex
TN40 1EA

Approved by order of the board of trustees on 9 September 2024 and signed on its behalf by:





Dr A M Hawks - Trustee

Independent Examiner's Report to the Trustees of
The Common Mission Project

Independent examiner's report to the trustees of The Common Mission Project ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








MR IAN GOAD FCA

IMG Chartered Accountants
& Business Advisors
Endwell Chambers
6 Endwell Road
Bexhill on Sea
East Sussex
TN40 1EA

9 September 2024

The Common Mission Project

Statement of Financial Activities
for the Year Ended 31 January 2024

31.1.24 31.1.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies - (6,105 )

Other trading activities 2 391,442 414,164
Other income 38 -
Total 391,480 408,059

EXPENDITURE ON
Raising funds 3 12,490 117,533


Other 384,458 294,736
Total 396,948 412,269

NET INCOME/(EXPENDITURE) (5,468 ) (4,210 )


RECONCILIATION OF FUNDS
Total funds brought forward 260,159 264,369

TOTAL FUNDS CARRIED FORWARD 254,691 260,159

The Common Mission Project (Registered number: 12407737)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 8 3,402 2,134

CURRENT ASSETS
Stocks 9 110,534 -
Debtors 10 1,091 -
Cash at bank 188,236 311,750
299,861 311,750

CREDITORS
Amounts falling due within one year 11 (48,572 ) (53,725 )

NET CURRENT ASSETS 251,289 258,025

TOTAL ASSETS LESS CURRENT
LIABILITIES

254,691

260,159

NET ASSETS 254,691 260,159
FUNDS 12
Unrestricted funds 254,691 260,159
TOTAL FUNDS 254,691 260,159

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


The Common Mission Project (Registered number: 12407737)

Balance Sheet - continued
31 January 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 9 September 2024 and were signed on its behalf by:





Dr A M Hawks - Trustee

The Common Mission Project

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

- Computer equipment - 25% reducing balance basis

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
The charity is exempt from corporation 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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.


The Common Mission Project

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. OTHER TRADING ACTIVITIES
31.1.24 31.1.23
£    £   
Funding receipts 391,442 414,164

3. RAISING FUNDS

Raising donations and legacies
31.1.24 31.1.23
£    £   
Support costs 30,398 18,158

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.1.24 31.1.23
£    £   
Depreciation - owned assets 697 321

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023.


6. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.1.24 31.1.23
Professional staff 4 3
Support staff 4 4
8 7

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

31.1.24 31.1.23
£90,001 - £100,000 - 1
£110,001 - £120,000 1 -
1 1


The Common Mission Project

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies (6,105 )

Other trading activities 414,164
Total 408,059

EXPENDITURE ON
Raising funds 117,533


Other 294,736
Total 412,269

NET INCOME/(EXPENDITURE) (4,210 )


RECONCILIATION OF FUNDS
Total funds brought forward 264,369

TOTAL FUNDS CARRIED FORWARD 260,159

8. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2023 2,715
Additions 1,965
At 31 January 2024 4,680
DEPRECIATION
At 1 February 2023 581
Charge for year 697
At 31 January 2024 1,278
NET BOOK VALUE
At 31 January 2024 3,402
At 31 January 2023 2,134


The Common Mission Project

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. STOCKS
31.1.24 31.1.23
£    £   
Work-in-progress 110,534 -

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Prepayments 1,091 -

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 4,772 3,345
Social security and other taxes 14,380 16,276
VAT 26,164 32,966
Pension payments 1,756 -
Accrued expenses 1,500 1,138
48,572 53,725

12. MOVEMENT IN FUNDS
Net
movement At
At 1.2.23 in funds 31.1.24
£    £    £   
Unrestricted funds
General fund 260,159 (5,468 ) 254,691

TOTAL FUNDS 260,159 (5,468 ) 254,691

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 391,480 (396,948 ) (5,468 )

TOTAL FUNDS 391,480 (396,948 ) (5,468 )


The Common Mission Project

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.2.22 in funds 31.1.23
£    £    £   
Unrestricted funds
General fund 264,369 (4,210 ) 260,159

TOTAL FUNDS 264,369 (4,210 ) 260,159

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 408,059 (412,269 ) (4,210 )

TOTAL FUNDS 408,059 (412,269 ) (4,210 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.2.22 in funds 31.1.24
£    £    £   
Unrestricted funds
General fund 264,369 (9,678 ) 254,691

TOTAL FUNDS 264,369 (9,678 ) 254,691

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 799,539 (809,217 ) (9,678 )

TOTAL FUNDS 799,539 (809,217 ) (9,678 )


The Common Mission Project

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2024.