VALIDATE AI UNIT CIC

Company limited by guarantee

Company Registration Number:
12599630 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

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Contents of the Financial Statements

for the Period Ended 30 September 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

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Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): 0 0
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 0 0
Tax: 0 0
Profit(or loss) for the financial year: 0 0

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Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 971 971
Investments:   0 0
Total current assets: 971 971
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 971 971
Total assets less current liabilities: 971 971
Creditors: amounts falling due after more than one year: 3 ( 1,000 ) ( 1,000 )
Total net assets (liabilities): (29) (29)
Members' funds
Profit and loss account: (29) ( 29)
Total members' funds: ( 29) (29)

The notes form part of these financial statements

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Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 22 May 2025
and signed on behalf of the board by:

Name: Anthony Bellotti
Status: Director

The notes form part of these financial statements

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Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

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Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

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Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 1,000 1,000
Total 1,000 1,000

COMMUNITY INTEREST ANNUAL REPORT

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Company Number: 12599630 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

We have provided the following services for public benefit: 1. Supporting UK Government in the advancement of the AI Assurance ecosystem (Jan 2024). 2. VAI AI Assurance roadshow events 2023-24. 3. Release Position Paper on AI Risks (April 2024). 4. From September 2024, recruit an intern in cooperation with OR Society and Imperial College London to develop an AI Assurance Masterclass, and develop AI bias mitigation tool.

Consultation with stakeholders

Engagement with stakeholders through roadshows and VAI Steering Group meetings: The delivery of our roadshow events with our hosts from various universities in the UK and beyond allowed us to build new sustainable partnerships. The University of Vienna – WU in particular were instrumental in helping our Trusted AI brand is established more globally, particularly with developing economies. We were also able to forge great links with Loughborough University to articulate new approaches to AI Assurance across different sectors. Four Steering Group meetings through the year: 16 October 2023, 1 February 2024, 18 March 2024 and 25 Jun 2024.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 May 2025

And signed on behalf of the board by:
Name: Anthony Bellotti
Status: Director