HIMALAYAN TRUST UK ANNUAL REPORT AND ACCOUNTS 2023 


SUPPORTING THE MOUNTAIN PEOPLE OF NEPAL 

**www.himalayantrust.co.uk** 



Himalayan Trust UK, Annual Report 2023 

## Trustees’ annual report for the year ended 31 December 2023 

The Trustees present the annual report and accounts of The Himalayan Trust UK CIO, Charity Reg No 1205379 (formerly The Himalayan Trust UK, Charity Reg No 1000153), for the year ended 31 December 2023 and confirm they comply with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. 

The address of the principal office of the charity is 62 Riversdale Road, London N52JZ. 

The charity’s bankers are HSBC. 

## Trustees 

As at the date of approval of this report, the Trustees were as follows: 

Sir Graham Wrigley KCMG (Chairman) John Walton (Deputy Chairman, Education Programme) Kate Wolstenholme (Treasurer) Alex Nevill (Hon. Secretary, appointed 5 December 2023) Dr Deborah Bartley (Health Programme, resignation recorded 5 December 2023) Kate Keohane (Health Programme) Timothy Keyes (Education Programme) Sue Leyden (Mountaineering Heritage) Angus Macdonald (Governance) Sarah Mackaness (Education Programme, appointed 5 December 2023) Sasja McCann (Marketing) Prof Padam Simkhada (Health Programme, appointed 30 April 2024) Sabian Phippen (Fundraising) Robert Ross (Fundraising) Rebecca Stephens (Mountaineering Heritage) 

Sir Chris Bonington CBE is President of the Himalayan Trust UK, and Mary Lowe is Honorary 1953 Patron. 


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Himalayan Trust UK, Annual Report 2023 

## HIMALAYAN TRUST UK 

## **Transforming the quality of education and improving health for Nepal's mountain people** 

The Himalayan Trust UK has been working since 1989 to help the mountain people of Nepal. We strive to improve the health of remote communities and provide access to quality education for young people. 

We started our work supporting the work of Sir Edmund Hillary and were keen supporters of the teacher training programme initiative which started in 1997 in the Solukhumbu region. The success of these early educational programmes and our link with the less developed Taplejung region prompted us to introduce an Education and Health programme in the foothills of Kanchenjunga, a much poorer mountainous region of Northeastern Nepal, from 2007. 


We continue to hold to the guiding principles laid down by Sir Edmund Hillary when he founded the first Himalayan Trust in 1960 

- Focus on basic infrastructure – education, health, environment 

- Only do that which is requested by the mountain people 

- Involve the mountain people themselves in the work – “self-help” 

- Minimise all unnecessary cost and facilitate direct transfer of funds 

- Look for long term sustainability and independence for the mountain people 



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Himalayan Trust UK, Annual Report 2023 

## Education programme 

Our education programme has transformed school attendances in the Kangchenjunga region. Through our NGO partner, REED Nepal, we provide teachers with the skills, knowledge and resources they need to help children learn and grow. Our child centred teacher training programme is helping to create the first generation of literate and numerate children from poor families in remote mountainous areas in Nepal. 

In addition, we have rebuilt or renovated school buildings and classrooms across the region which have transformed the learning environment for children and teachers. 

Education trustees are fully committed to supporting the programme, visiting Nepal and the schools on a biannual basis, regular online calls with our project co-ordinator and also frequent meetings within the education team. 


## Health programme 

We started a dedicated health programme in 2013. Our needs assessments revealed extremely poor health knowledge and behaviours by villagers and very poor access to health services. Our health programme, delivered together with our local partner Action For Nepal (AF Nepal), has empowered remote communities to be healthier and achieve the highest well-being. 

The health trustees have a monthly zoom meeting with Dr Jangmoo Sherpa of AF Nepal who arranges our Health programme in Taplejung. Dr Kate Keohane has visited the area on a bi-annual basis since becoming a trustee to see at first hand the work that has and is being carried out. 



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Himalayan Trust UK, Annual Report 2023 

## **Message from the Chairman** 

I am pleased to share the 2023 Annual Report of the Himalayan Trust UK. 

Last year was a very important year for us for many reasons. Firstly, together with several charitable organisations with a direct link to 1953, we celebrated the 70th anniversary of the ascent of Everest in a series of events under the banner of “Everest 70”. Together with the families of Hunt, Hillary, and Tenzing we recreated the journey of 1953 starting high in the villages of Everest in Khumjung, Kunde, Namche Bazaar and Lukla. They continued to the Presidential Palace, the British Embassy, and a large event at Aloft Hotel in Kathmandu. Then, via the New Zealand High Commission in Delhi, to the Nepal Embassy in London, an audience with King Charles III at Buckingham Palace and an event at the Royal Geographical Society. 

We used these events to frame a campaign to raise money for our work – inspired by Sir Edmund Hillary and his extraordinary vision in the 1960s. 




His founding principles still guide us today. We are very grateful for all the donors, large and small, who have allowed us to rebuild our finances which had been depleted by the huge rebuild post the 2015 earthquake. Our commitment to the remote areas in which we work is long term – and we simply cannot commit without having these reserves. We are very grateful to you all. 

Our work during this period has not slowed down – indeed we have accelerated. You can read about our Education and Health work in detail on pages 6-11. We are close to completing a strategy refresh – learning from the past and thinking of how best we can meet the new challenges and opportunities that lie ahead, in particular in the schools and health clinics in Taplejung. We continue to work to improve the education outcomes for 2,430 students in our 35 schools, and to improve the health outcomes from the two health clinics we have been supporting. The mountain slopes of Kanchenjunga are increasingly affected by climate change – we will continue to help the local communities by targeted support on school rebuild, water, sanitation and hygiene (WASH) projects, as we have done in recent years. 


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Himalayan Trust UK, Annual Report 2023 

Our vision is based on achieving long term impact, so we continue to ensure we work well with our local partners to improve their capacity on a yearly basis with rolling three-year contracts for parts of our expenditure, but all the while keeping our eye on the ten year needs of the communities we support. We believe that there are no easy or quick fixes in the mountain communities where we work. 

In line with the Charity Commission best practice, we undertook a review of the Trust’s legal and governance structures and concluded that the charitable incorporated organisation (CIO) legal structure is better suited to small and mid-size charities such as us. The new structure facilitates attracting major donors and it provides a more effective operational model, both of which are instrumental in ensuring we can continue to make a difference to the lives of the mountain people of Nepal. 

Last, but not least, as we have done since we started as a charity in 1989, we have carried on a programme of phased succession. We bid a grateful goodbye to Dr Debbie Bartley who was, with Dr Kate Keohane, the founder of the Health Programme we operate in Taplejung. We welcome Professor Padam Simkhada, a Nepali born Public Health expert to work alongside Kate going forward. On the education side we welcome Sarah Mackaness who has deep experience in education and Nepal. Finally, to allow Sasja McCann to focus all her time on our marketing and communication work, we are delighted to have appointed Alex Nevill as our Hon. Secretary. As a former British Gurkha with a blue chip career in business he has already added value. As Chair, I am grateful to all our volunteer Trustees. We operate a “Producer Trustee” model where everyone has a clearly defined roles but come together as a team to drive the Himalayan Trust UK forward to meet our mission to improve the lives of the communities where we work in the remote mountain regions of Nepal. Each and every one shows diverse and full commitment to the organisation. 

I hope you enjoy reading this report and that you can see how we are carrying on the legacy of Sir Ed Hillary in our work. Next year will be the 70th anniversary of Kanchenjunga, and we are working hard to make sure that the challenges of the communities in the shadows of the third highest mountain of the world are understood and addressed through our Trust and our partners. 

## **Sir Graham Wrigley** 





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Himalayan Trust UK, Annual Report 2023 

## IMPACT MADE IN 2023 

## Education Programme 

Our Teacher Training programme covers 35 schools in remote villages across Kanchenjunga where travel on foot can take several hours between each village. The training programme is essential for schools to keep up to date with latest skills and techniques. The programme trains teachers to use a "child-centred approach" in the classroom - delivering inspirational lessons to capture young imaginations and rewarding children with encouragement and appreciation. We work alongside head teachers to train them in school management techniques and enable them to take a pro-active approach to their role to take full charge of their school’s destiny and direction. Finally, we work with the wider local communities to make sure they understand the importance of sustainable education and to encourage them to become involved in the development of their schools. 

## The benefits of the training are plain to see each time we visit 


The most promising results in 2023 demonstrate how much the schools have improved based on a variety of criteria set up by the REED team in the field. 


Lelep, Ikhabu, Tapethok, Gola (supported since 2007) and Yamphudin (since 2015) 10 schools – excellent 12 schools – good 4 schools – average 0 school - under-performing 

Khewang and Mamankhe (supported since 2019) 

0 schools – excellent 5 schools – good 4 schools – average 0 schools – under-performing 

This is a significant improvement and continues a very positive trend. 

||2018|2019|2020|2021|2022|2023|
|---|---|---|---|---|---|---|
|Excellent|0|5|6|7|6|10|
|Good|11|9|11|13|16|17|
|Average|13|17|16|13|11|8|
|Under performing|2|7|2|2|2|0|



Observation areas; - Quality of leadership, Effectiveness of training, Innovation and child-friendly teaching, Effectiveness of development plan, Suitability of facilities, Effectiveness of SMC, Effectiveness of PTA, Performance of KT/RT(own school), Community involvement, Classroom management (access & use), Students interaction and Personal hygiene & environment cleanliness. Source REED Nepal 


## How will this impact our strategy? 

- Need for less intervention from REED for the 10 “excellent” schools , although we will continue to monitor progress and encourage further development 

- Concentrate on those schools that continue to need support to bring them up to the standard of the 10 excellent schools 

Incorporate new elements in our next three-year cycle of the programme (commencing 2025) addressing the evolving needs of the schools – amongst others scholarships and vocational scholarships 


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Himalayan Trust UK, Annual Report 2023 

## Capacity building 

REED Nepal has achieved greater involvement of the community showing interest in, involvement with and management of the schools. There has been significant input in the programme to give parents, community members, School Management Committee (SMC) and Parent Teacher Association (PTA) an understanding of the needs of the schools and ways in which they can ensure those needs are addressed. 

## Reading camps 

The camps were introduced to support children post Covid. During 2023 we established 16 Reading Camps, each for 25 children, where children would attend school for 90 minutes on a Saturday morning. The extra tuition allowed children to catch up on their literacy and numeracy skills, improving the attainment levels skills of the 400 children involved. 

The camps have been very successful so much so that they are being continued to support any child who would benefit from extra tuition. They are a very effective way to enable children to catch up and maintain their learning. 

## Libraries 

During the year we provided libraries to six schools. The libraries are brightly decorated rooms holding a range of books to support the learning of all children. Each library is supplied with tables and chairs, as well as more comfortable cushions for less formal reading. They are always open so children can visit during their breaks for research purposes or for quiet reading. 

It is, however, not just a case of supplying books, a carpet and furniture. In order to ensure that the most is made of the facility, we train teachers how to manage the facility, to use it as an additional resource for their teaching and to encourage children to explore the content and further develop a love of reading. 



These libraries are a huge asset to the schools that we anticipate will have a very positive impact on children’s ability to learn. 

## The Youth Volunteer Camp 

This is a pioneering project designed to re-engage drop out students and reintegrate them into the education system. A Youth Volunteer worker comes from within the community and is assigned to a number of schools. They liaise between those schools and the parents of regular non-attenders. Their aim is to engage with parents, to assess the issues and emphasise the importance of their support in sending their child to school. Daily attendance is expected to increase and the camps are expected to help promote awareness to parents about the importance of providing study time at home for their children. 

## Child Safeguarding and Gender Equality, Disability and Social Inclusion (GESI) training 

As a result of the training, teachers understand the importance of the GESI, Safeguarding and Child Rights policies that REED have created. A reporting method is being developed at school level to raise awareness about gender equality. The training has already minimised discrimination and promotes female involvement in schools’ many activities. 


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Himalayan Trust UK, Annual Report 2023 

## Eco-Child Club Orientation and School Greenery 

The aim is to transform schools into a green space with a range of social activities. Students gain confidence and leadership skills whilst participating in extra-curriculum activities.  Students are responsible for looking after resources and senior students help junior students. Participation in the community raises awareness and supports social work programmes. 


## KEY PERFORMANCE INDICATORS 


**----- Start of picture text -----**<br>
IMPACT AREA IMPACT FOCUS DESCRIPTION 2023<br>Access Attendance Daily average student school attendance 85%<br>Lessons learned # training hours delivered to Field Officers 40<br>Lessons delivered # training hours delivered by Field Officers to schools 25,056<br>Diversity and inclusion Total % female students in schools 51%<br>Total % disabled students in schools 0.1%<br># additional lesson hours and support provided to students 2,448<br>Scholarships Cumulative # George Band scholarship awarded 87<br>Attainment Examination pass rate Average pass rate 71%<br>Dropout rate School dropout rate 2%<br>Education completion rate % school students completing formal education 52%<br>Access to 10+2 education # students continuing with 10+2 education 143<br>Student destination % students continuing education 50%<br>Educational standards Teacher training Total # teaching training hours 168<br>School inspection grading Quality of education assessment score (out of 5*) 4<br>Student potential leader training # students participating in potential leader training 367<br>Governance School leadership quality Quality of leadership assessment score (out of 5*) 4<br>Community Parent, family and PTA engagement # hours of meetings with parents during the school year 1,550<br>Local government, municipality and  PTA rating (out of 5*) 3<br>SMC engagement SMC rating (out of 5*) 3.5<br>Environment Building, equipment and resources Quality of school resources assessment score (out of 5*) 4<br>Environmental impact Building/water supplies, accessibility, litter collection score 4<br>(out of 5*)<br>Sustainability School capacity building and  # schools with full intervention 8<br>self-management capabilities # schools with reduced intervention 17<br># schools with observed care and maintenance 10<br>**----- End of picture text -----**<br>


*Excellent = 5; Good = 4; Satisfactory = 3; Requires improvement = 2; Poor = 1 


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Himalayan Trust UK, Annual Report 2023 

## Health Programme 

The aim of our health programme is to work sustainably in close partnership with local people, to increase their capacity for the future. We base much of our work on existing local policy, with a view to villagers being empowered to continue it themselves. 

## Community Health Awareness Project 

After having successfully completed our first Community Health Awareness Project (CHAP) in Yamphudin in 2022, we have now completed our second two-year CHAP programme in Lelep in the Phaktanglung Rural Municipality of Taplejung. The Health Post in Lelep is known as the Lungthung Health Post. 

The main aim of CHAP is to raise health awareness in the community, especially in women and children. As in Yamphudin, initial meetings were held by our NGO partner AF Nepal involving local stakeholders at district, rural municipality and ward levels to ascertain existing health problems and major causes of mortality and morbidity in the community. This formed the basis to prioritise topics for community health awareness sessions. 

Training was then provided to Female Community Health Volunteers (FCHVs) and Health workers to equip 16 individuals (1 male and 15 female) with the necessary knowledge and skills to implement the programme and in doing so promote positive health behaviours among the local population. The activity worked to enhance community health awareness on maternal and child health including non-communicable diseases. 


Regular health mothers group meetings were conducted by the FCHVs in their communities in Lelep. The sessions were monitored continuously through the project duration to ensure that the targeted beneficiaries benefited from the programme. A total of 1,678 people attended the sessions. 

## Lelep School Health Programme 

School health awareness sessions have been conducted in a number of ‘Basic schools’ (equivalent to primary schools) on personal hygiene, sanitation, hand washing and oral hygiene. The sessions reached 349 children. By targeting school children, the project aimed to establish healthy behaviour and promote health awareness from an early age. 

The main aim of the activity was to set the foundation for lifelong wellbeing and disease prevention within the community. 




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Himalayan Trust UK, Annual Report 2023 

## Lelep Health Service Improvements 

Shortly after we started our programme in Lelep, we carried out an assessment of Lungthung Health Post with the help of our local partner. They found that training was required by the management team as well as on clinical subjects for the Health Post staff. 

During 2023 further training was given to the Health Facility management committee (HFOMC) with the aim of ensuring sustainable health care delivery and governance within the ward. We also provided logistics and equipment support to the Lelep Health Post. Six-monthly comprehensive assessments of Lelep Health Post (based on Minimum Service Standards (MSS)) showed significant improvements in governance and management practice. 

Highlights of successful Health Post staff training are: 

## Family planning training 

Training on implant removal and insertion resulting in 40 women having had implants inserted and 11 removals. The implants need to be changed every three years to ensure effective contraception. 

In Nepal, cervical cancer is the most common female cancer in women aged 15-44 and the leading cause of cancer deaths. Despite these figures, currently less than 2% of women aged 30-60 in Nepal are screened, leading to most women diagnosed with cervical cancer presenting at a late stage. The national guidelines in Nepal recommend screening with visual inspection with acetic acid (VIA) every 5 years for women aged 30-60. We funded the training of VIA screening and together with our Health Awareness sessions women are beginning to come forward for screening and 190 women have now been successfully screened. 

## Rural Obstetric Ultrasound (ROUSG) training 

We bought an ultrasound monitor for the Health Post and provided Rural Obstetric Ultrasound (ROUSG) training to a nurse trained as a skilled birth attendant (SBA). The monitor will ensure more accurate dating of pregnancies and allows for better monitoring of the growth of the foetus enabling the nurse to effectively manage and refer cases of obstetric complications as appropriate, ultimately reducing newborn and maternal morbidity and mortality. This initiative is in line with government’s overall aims. 

## Programme Sustainability 

The FHCVs report back to the health post on a monthly basis and the health workers record their data. This task is laid down by the Nepali government’s protocol and we are building the CHAP on that basis to maximise sustainability. 

The Lelep Health project has been instrumental in addressing critical health challenges. Through a comprehensive approach involving stakeholder coordination, targeted training programmes and proactive community engagement the project has significantly enhanced health awareness and access to quality healthcare. 

Our actions, focussed on women’s health needs, have contributed to better maternal and reproductive health outcomes benefitting the entire population of Lelep (2,147 of which 1,152 males and 995 females). 


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## KEY PERFORMANCE INDICATORS 


**----- Start of picture text -----**<br>
IMPACT AREA IMPACT FOCUS DESCRIPTION 2023<br>Access Health service provision, access and # health post attendances (incl birthing centres) 1,004<br>quality # staff at health posts 6<br>Maternal and neonatal care# # women achieving protocol visits for antenatal and postnatal 52<br>care<br>% total new born deliveries in a health facility 90%<br>Preventative service provision and  % new born children vaccinated 77%<br>access<br>Health outcomes Maternity, neonatal and child health Maternity % death rate 0%<br>Clinical and non- Health post standards Minimal Service Standards (MSS) rating 72%<br>clinical standards<br>Governance Health post management training and % of target HFOMC monitoring meetings conducted 83%<br>quality % of target immunisations and outreach clinic meetings 100%<br>conducted<br>Good governance and management score 83%<br>Health post accountability , efficiency # datasets covered by HMIS report 12<br>and transparency<br>Community Community health awareness % CHAP sessions held vs target 94%<br>CHAP sessions participant reach 1,678<br>School health projects School health projects participant reach 349<br>Environment Building, equipment and resource Clinical Services and Management in Lungthung Health Post (MSS 69.2%<br>quality and supply % score)<br>Overall Health Post Services Management(MSS % score) 69.4%<br>Environmental impact # solar panels installed at Yamphudin Health Post 2<br>Sustainability Sustainability and capacity building of # health posts operating independently 2<br>health activities # health posts operating with minimal intervention 2<br># health posts directly operated by AF Nepal 0<br>**----- End of picture text -----**<br>



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Himalayan Trust UK, Annual Report 2023 

## Governance 

In 2022 the Trustees undertook a thorough review of the Trust’s legal and governance structures in the wake of changes in the law applicable to charity structures. Working with our legal advisers we resolved to change our legal structure to a Charitable Incorporated Organisation (CIO). 

We adopted a resolution in December 2023 to convert to a CIO effective from 1 January 2024. The CIO is governed through its 2023 Constitution. The existing charity will be gradually wound down and the assets transferred to the new CIO. 

## Policies and Procedures 

As part of the CIO conversion process we undertook a full review of our policies and procedures. As we gradually convert our website to reflect the new CIO we shall update and supplement our policies for ease of access and transparency. 

## Our partners in Nepal 

We continue to work closely with, and monitor the actions of, our partner NGOs in Nepal, REED Nepal and AF Nepal. Quarterly meetings are arranged to hear reports on progress to plan on strategy alongside spending relative to agreed budgets. Our Chair is regularly in Nepal and meets often with our NGO partners. A further field trip will be conducted in October/November 2024. In addition, we have agreed this year to conduct a formal, external structural review of REED. This will be undertaken by a reputable, regulated external consultant in Kathmandu and will report back later this year to our internal governance team and Chair. We plan to undertake a similar exercise in 2025 for AF Nepal. 

## Trustees 

All new Trustees were appointed following an open recruitment process soliciting interested parties to apply, and a series of interviews. They have received an induction in the aims and objective of the charity as well as information on our strategy, policies and procedures. 

## Financial Review 

## Overview 

In the financial year to 31 December 2023, the Trust recorded total receipts of £549k (2022: £123k), and total payments of £253k (2022: £167k). The Trust closed the year with £550k of funds (£253k as at 31 December 2022). 

As stated in the Message from the Chairman, 2023 was an exceptional fundraising year for the Himalayan Trust UK as we successfully leveraged the fund-raising potential of the 70th anniversary of the first Everest ascent (Everest70) to replenish reserves which were diminished in the aftermath of the 2015 earthquake. £388k of income, and just over £300k of profit in the year arose from Everest70 fundraising, and we are deeply grateful to our supporters whose generosity contributed to this unique fundraising effort. 

Aside from Everest70, we raised a further £161k during the year, of which £18k was restricted (see Reserves below). Key items of expenditure comprised £76k and £33k on our core education and health programmes respectively, as well as a further £21k on scholarships and school libraries. We also incurred non-recurring legal costs of £12k in connection with the conversion to CIO status as set out in “Governance” above. 


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Himalayan Trust UK, Annual Report 2023 

## Reserves 

As at 31 December 2023 the charity held total unrestricted reserves of £550k (2022: £253k), with £55k of that amount undesignated as set out below. 

FY23 was an exceptional year for the charity. The funds raised in the Everest70 initiative have allowed the reduction in reserves which had been carried since the aftermath of the 2015 earthquake to be replenished. In addition, provision has been made for the support of our future programmes increasing the security of our commitment to the communities in Nepal. 

Most of our annual income comes from single donations and legacies and so is uncertain year to year. In addition, in most years the amount of our income falls short of our expenditure. It is a high priority to increase our fund-raising capacity but until this is successful, we must hold sufficient reserves to cover the structural deficits we will otherwise run for the ten- year period of our commitment. 

The Everest70 proceeds have allowed us to establish appropriate reserve levels and re-establish the strong financial footing which has sustained the charity for over 30 years. The Trustees have decided to designate £450k to a Funding Deficit Reserve. The level of reserves will be reviewed on an annual basis in the light of experience including new fund raising. 

In addition, £45k has been designated to a Disaster Relief Reserve, for natural and man-made disasters response, provided our Funding Deficit Reserve is fully funded. 

When required, the Trust also receives restricted funds which specifically cover the costs of hosted events, trustee expenses and certain other one-off administrative expenses. In 2023 this included £77k to cover the cost of hosting fundraising events, £15k to cover strategic fundraising advice, and £3k to fund trustee expenses for travel to Nepal. Donors can therefore be assured that other than some minor and unavoidable governance and administration costs, their donations go directly to helping the mountain people of Nepal. Having considered our financial position, we remain confident of our ability to deliver on our commitments and the Trustee have therefore prepared the accounts on a going concern basis. 

## Investment policy 

Given the significant funds that we have been able to secure during FY23 to underpin the charity’s commitment to sustainable giving over a ten-year horizon, the Trustees have adopted an investment policy which seeks to deliver an incremental return over cash without subjecting the charity to unacceptable levels of volatility. As at 31 December 2023 our funds were split across a combination of funds, investment trusts, money market deposits, and instant access cash. We are in the process of increasing our exposure to returnseeking assets (40% of assets), noting that the ten year horizon applicable to our longer-term funding will allow us to absorb some equity fluctuations and take advantage of higher expected returns. 


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Himalayan Trust UK, Annual Report 2023 

## Principal risks and uncertainties 

The principal risks and uncertainties facing the charity, and our planned mitigants, are summarised below: 

|RISK|MITIGANT|
|---|---|
|Fluctuating income levels inhibit our ability to commit|Our focus on Everest70 fundraising this year to replenish our reserves, and our prudent|
|to sustainable education and health programmes in the|reserving and investment policies, together give us confidence over the sustainability and|
|medium term|resilience of the charity.|
||We have increased internal and external resources allocated to increase our regular|
|NGO reliance|fundraising.<br>Education, health and governance trustees regularly visit Nepal and meet in person with|
||key management at REED and AF Nepal. We review local governance, on-the-ground|
||presence in our committed programme focus area, key person risk and succession|
|Natural and man-made disasters (including|planning, and reputational impact.<br>We are not ‘first responders’ and have established a disaster relief policy to pre-|
|earthquakes/landslides) impact local communities and|determine the maximum amount of our reserves we would allocate to a disaster recovery|
|our programme of work|fund, noting this would be conditional on the establishment of a parallel public appeal.|
|Reliance on key individuals|We actively engage in Trustee succession planning, from the perspectives of education,|
||health, governance and marketing skills, and mountaineering heritage. We have a diverse|
||group of producer Trustees and regularly review roles and responsibilities.|
|Reputation|The Himalayan Trust UK has one of the longest established UK charitable relationships in|
||Nepal. Our regulator, our donors, and the agencies with whom we work expect the|
||highest standards of probity from us and we are acutely mindful of the origins of our|
||work through the name of Sir Edmund Hillary and his colleagues in establishing the|
||Himalayan Trust. We review our own actions through honest self-assessment as well as|
||peer challenge by our Chair on an annual basis. We encourage donors or any party|
||interested in our work and governance thereof to raise questions via a dedicated email|
||address<br>governance@himalayantrust.co.uk|




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Himalayan Trust UK, Annual Report 2023 

Independent Examiner's Statement 



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**The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## STATEMENT OF FINANCIAL ACTIVITIES 

## **for the year ended 31 December 2023** 

**(incorporating income and expenditure account)** 

|**Note**<br>**Income**<br>Donations and legacies<br>2<br>Other trading activities<br>3<br>Investments<br>4<br>**Total income**<br>**Expenditure**<br>Raising funds<br>5<br>Charitable activities<br>6<br>Other<br>7<br>**Total expenditure**<br>Net gains/(losses) on investments<br>9<br>**Net income/(expenditure)**<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds 2023**<br>**£**<br>145,582<br>304,243<br>4,771<br>**454,596**<br>(14,851)<br>(131,190)<br>(12,720)<br>**(158,761)**<br>1,308<br>**297,143**<br>**297,143**<br>252,653<br>**549,796**|**Restricted**<br>**funds 2023**<br>**£**<br>94,694<br>-<br>-<br>**94,694**<br>(91,707)<br>(2,987)<br>-<br>**(94,694)**<br>-<br>**-**<br>**-**<br>-<br>**-**|**Total**<br>**funds 2023**<br>**£**<br>240,276<br>304,243<br>4,771<br>**549,290**<br>(106,558)<br>(134,177)<br>(12,720)<br>**(253,455)**<br>1,308<br>**297,143**<br>**297,143**<br>252,653<br>**549,796**|**Total**<br>**funds**<br>**£**<br>122,787<br>-<br>-|
|---|---|---|---|---|
|||||**122,787**|
|||||(562)<br>(160,759)<br>(5,911)|
|||||**(167,232)**|
|||||(2,764)<br>**(47,209)**|
|||||**(47,209)**<br>299,862|
|||||**252,653**|



All of the Charity’s activities are derived from continuing activities. The statement of financial activities includes all gains and losses recognised in the current and prior year. 

The notes on pages 20 to 29 form part of these financial statements. 


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**The Himalayan Trust UK CIO (Charity Registration no. 1205379) (formerly the Himalayan Trust UK)** 

## BALANCE SHEET 

## **as at 31 December 2023** 

|**Note**<br>**Current assets**<br>Investments<br>9,13<br>Cash at bank and in hand<br>13<br>Accrued interest<br>10<br>**Net assets**<br>**The funds of the Charity**<br>11<br>Unrestricted funds<br>Restricted funds<br>**Total Charity funds**|**£**<br>122,213<br>425,161<br>2,421|**2023**<br>**£**|**£**<br>122,597<br>130,056<br>-|**2022**<br>**£**|
|---|---|---|---|---|
||**549,796**||**252,653**||
|||**549,796**||**252,653**|
|||549,796<br>**-**||252,653<br>-|
|||**549,796**||**252,653**|



## **Total Charity funds** 

The financial statements on pages 17 to 29 were approved by the Board of Trustees on 28 May 2024 and were signed on their behalf by: 


## **Sir Graham Wrigley Chair of the Board of Trustees** 

The notes on pages 20 to 29 form part of these financial statements. 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## STATEMENT OF CASH FLOWS 

**for the year ended 31 December 2023** 

|**Note**<br>**Net cash generated from/ (used in) operating activities**<br>12<br>**Cash flows from investment activities**<br>Bank interest received<br>**Net cash (used in) / generated from investing activities**<br>**Increase / (decrease) in cash and cash equivalents in**<br>**the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>13|**2023**<br>**£**<br>292,372<br>2,349<br>2,349<br>**294,721**<br>252,653<br>**547,374**|**2022**<br>**£**<br>(47,209)|
|---|---|---|
|||-|
|||-|
|||**(47,209)**<br>299,862|
|||**252,653**|



The notes on pages 20 to 29 form part of these financial statements. 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS **for the year ended 31 December 2023** 

## **1. Accounting policies** 

## **Charity information** 

The Himalayan Trust UK (the “Charity”) was formerly registered with the Charity Commission as a charitable trust under registration number 1000153. On 1 January 2024, the Charity was converted to a charitable incorporated organisation and is now registered as the Himalayan Trust UK CIO under registration number 1205379. 

Its registered office is 62 Riversdale Road, London N5 2JZ. 

The Charity seeks to contribute to the advancement of education, the relief of poverty and sickness, and the protection and preservation of the environment in Nepal. 

## **Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **Reconciliation with previous Generally Accepted Accounting Practice** 

In preparing these financial statements, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. 

No restatements were required. 

## **Going concern** 

The Trustees consider there are no material uncertainties regarding the Charity’s ability to continue as a going concern. 

The Trustees have reviewed the financial forecasts and budgets that have been prepared and are satisfied it is appropriate to prepare the annual financial statements for the Charity on a going concern basis. 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS **for the year ended 31 December 2023** 

## **Income** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. 

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. 

Although the Charity has no employees and is run by its ‘Producer Trustees’, no amounts are included in the financial statements for services donated by Trustees as volunteers as these are not able to be reliably measured. 

Other income is recognised in the period in which it is receivable. 

## **Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. 

Costs of raising funds are costs incurred in attracting voluntary income, and costs of fundraising events. 

All expenditure is inclusive of irrecoverable VAT. 

## **Investments** 

Investments are included in the balance sheet at their market value. 

## **Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity. 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS 

## **for the year ended 31 December 2023** 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount. 

## **Cash at bank and in hand** 

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

## **Financial instruments** 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **Taxation** 

As a registered charity, the Charity is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax (VAT) is not recoverable by the Charity and is therefore included in the relevant costs in the statement of financial activities. 

## **Fund accounting** 

Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS **for the year ended 31 December 2023** 

## **2. Income from donations and legacies** 

|Donations<br>Legacies<br>Gift and tax reclaimed<br>Restricted donations to cover trustee and<br>fundraising expenses, including cost of events<br>Donations<br>Legacies<br>Gift and tax reclaimed<br>Restricted donations to cover trustee expenses|**Unrestricted**<br>**funds 2023**<br>**£**<br>96,988<br>17,740<br>30,854<br>-<br>**145,582**<br>**Unrestricted**<br>**funds 2022**<br>**£**<br>100,054<br>-<br>-<br>-<br>**100,054**|**Restricted**<br>**funds 2023**<br>**£**<br>-<br>-<br>-<br>94,694<br>**94,694**<br>**Restricted**<br>**funds 2022**<br>**£**<br>20,000<br>-<br>-<br>2,733<br>**22,733**|**Total**<br>**funds 2023**<br>**£**<br>96,988<br>17,740<br>30,854<br>94,694|
|---|---|---|---|
||||**240,276**|
||||**Total**<br>**funds 2022**<br>**£**<br>120,054<br>-<br>-<br>2,733|
||||**122,787**|




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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS 

## **for the year ended 31 December 2023** 

## **3. Other trading activities** 

|Income from fundraising events<br>Fundraising auction receipts<br>Event sponsorship<br> Other trading activities<br>**. Investment income**<br>Bank interest receivable<br>Bank interest receivable|**Unrestricted**<br>**funds 2023**<br>**£**<br>113,901<br>51,308<br>139,034<br>**304,243**<br>**Unrestricted**<br>**funds 2022**<br>**£**<br>**-**<br>**Unrestricted**<br>**funds 2023**<br>**£**<br>**4,771**<br>**Unrestricted**<br>**funds 2022**<br>**£**<br>-|**Restricted**<br>**funds 2023**<br>**£**<br>-<br>-<br>-<br>**-**<br>**Restricted**<br>**funds 2022**<br>**£**<br>**-**<br>**Restricted**<br>**funds 2023**<br>**£**<br>**-**<br>**Restricted**<br>**funds 2022**<br>**£**<br>-|**Total**<br>**funds 2023**<br>**£**<br>113,901<br>51,308<br>139,034|
|---|---|---|---|
||||**304,243**|
||||**Total**<br>**Funds 2022**<br>**£**|
||||**-**|
||||**Total**<br>**funds 2023**<br>**£**|
||||**4,771**|
||||**Total**<br>**funds 2022**<br>**£**|
||||-|



## **4. Investment income** 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS 

## **for the year ended 31 December 2023** 

## **5. Costs of raising funds** 

|**Unrestricted**<br>**funds 2023**<br>**£**<br>Raising donations and legacies<br>1,879<br>Cost of fundraising events<br>12,972<br>**14,851**<br>**Unrestricted**<br>**funds 2022**<br>**£**<br>Raising donations and legacies<br>562<br>**562**<br>**. Analysis of expenditure on charitable activities**<br>**Unrestricted**<br>**funds 2023**<br>**£**<br>Education<br>98,590<br>Health<br>32,600<br>**131,190**|**Restricted**<br>**funds 2023**<br>**£**<br>14,964<br>76,743<br>**91,707**<br>**Restricted**<br>**funds 2022**<br>**£**<br>-<br>**-**<br>**Restricted**<br>**funds 2023**<br>**£**<br>2,987<br>-<br>**2,987**||**Total**<br>**funds 2023**<br>**£**<br>16,843<br>89,715|
|---|---|---|---|
||||**106,558**|
||||**Total**<br>**funds 2022**<br>**£**<br>562|
||||**562**|
||||**Total**<br>**funds 2023**<br>**£**<br>101,577<br>32,600|
||||**134,177**|



## **6. Analysis of expenditure on charitable activities** 


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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS 

## **for the year ended 31 December 2023** 

|Education<br>Health|**Unrestricted**<br>**funds 2022**<br>**£**<br>108,976<br>29,050<br>**138,026**|**Restricted**<br>**funds 2022**<br>**£**<br>22,733<br>-<br>**22,733**|**Total**<br>**funds 2022**<br>**£**<br>131,709<br>29,050|
|---|---|---|---|
||||**160,759**|



## **7. Other costs** 

|Legal and professional costs<br>Other expenditure|**Total**<br>**funds 2023**<br>**£**<br>11,815<br>905<br>**12,720**|**Total**<br>**funds 2022**<br>**£**<br>4,967<br>944|
|---|---|---|
|||**5,911**|



Legal and professional costs include costs incurred in connection with the CIO conversion process, as well as £720 in respect of donated independent examination fees. 

## **8. Trustees’ remuneration** 

No Trustees received any remuneration during the financial year (2022: £Nil). No Trustees received any benefits in kind (2022: £Nil). Trustees received reimbursement of expenses of £2,987 (2022: £2,733) covering flights to Nepal (covered by a restricted donation). The Charity has no employees. 

## **9. Investments** 

|Securities<br>During the year, there was a revaluation gain on investments of £1,308 (2022: loss|**2023**<br>**2022**<br>**£**<br>**£**<br>**122,213**<br>**122,597**<br>of £2,764).|
|---|---|




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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS **for the year ended 31 December 2023** 

## **10. Debtors** 

|Accrued interest<br>**11.**<br>**Statement of funds**<br>**At**<br>**1 January**<br>**2023**<br>**£**<br>**Unrestricted**<br>**funds**<br>252,653<br>**Restricted funds**<br>-<br>**Total of funds**<br>**252,653**<br> <br>**At**<br>**1 January**<br>**2022**<br>**£**<br>**Unrestricted funds**<br>299,862<br>**Restricted funds**<br>-<br>**Total of funds**<br>**299,862**|**Income**<br>**£**<br>455,996<br>94,694<br>**550,690**<br>**Income**<br>**£**<br>100,054<br>22,733<br>**122,787**|**Expenditure**<br>**£**<br>(160,161)<br>(94,694)<br>**(254,855)**<br>**Expenditure**<br>**£**<br>(144,499)<br>(22,733)<br>**(167,232)**|**2023**<br>**£**<br>2,421<br>**2,421**<br>**Gains and**<br>**(losses)**<br>**£**<br>1,308<br>-<br>**1,308**<br>**Gains and**<br>**(losses)**<br>**£**<br>(2,764)<br>-<br>**(2,764)**|**2022**<br>**£**<br>-|
|---|---|---|---|---|
|||||-|
|||||**At 31**<br>**December**<br>**2023**<br>**£**<br>549,796<br>-|
|||||**549,796**|
|||||**At 31**<br>**December**<br>**2022**<br>**£**<br>252,653<br>-|
|||||**252,653**|



Restricted funds in FY23 relate to funds received specifically to cover the costs of fundraising events, trustee travel expenses, and one-off professional fundraising advisory costs (see note 15).  Restricted funds in FY22 relate to £20,000 to rebuild and equip the hostel kitchen at Lelep School, and funds received to cover trustee travel expenses. 


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**The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS 

## **for the year ended 31 December 2023** 

As set out in the Financial Review, the Trustees have designated £450k of unrestricted funds to underpin our core education and health programmes over a ten-year period, and £45k to respond to natural and man-made disasters (provided our long-term commitments remain fully funded).  This will be reviewed on an annual basis. 

## **12. Reconciliation of net movement in funds to cash flow from operating activities** 

|Net income/(expense) for the year<br>Interest<br>**Net cash generated from operating activities**<br>**13. Analysis of cash and cash equivalents**<br>Cash at bank and in hand<br>Current asset investments<br>**Cash and cash equivalents**|**2023**<br>**£**<br>297,143<br>(4,771)<br>**292,372**<br>**2023** <br>**£** <br>425,161<br>122,213<br>**547,374**|**2022**<br>**£**<br>(47,209)<br>-|
|---|---|---|
|||**(47,209)**|
|||**2022**<br>**£**<br>130,056<br>122,597|
|||**252,653**|




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## **The Himalayan Trust UK CIO (formerly the Himalayan Trust UK)** 

## NOTES TO THE FINANCIAL STATEMENTS **for the year ended 31 December 2023** 

## **14. Analysis of prior year statement of financial activities** 

|**Income**<br>Donations and legacies<br>**Total income**<br>**Expenditure**<br>Raising funds<br>Charitable activities<br>Other<br>**Total expenditure**<br>**Net losses on investments**<br>**Net income and net movement in funds for**<br>**the year**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds 2022**<br>**£**<br>100,054<br>**100,054**<br>(562)<br>(138,026)<br>(5,911)<br>**(144,499)**<br>(2,764)<br>**(47,209)**<br>299,862<br>**252,653**|**Restricted**<br>**funds 2022**<br>**£**<br>22,733<br>**22,733**<br>-<br>(22,733)<br>-<br>**(22,733)**<br>-<br>**-**<br>-<br>**-**|**Total**<br>**funds 2022**<br>**£**<br>122,787|
|---|---|---|---|
||||**122,787**|
||||(562)<br>(160,759)<br>(5,911)|
||||**(167,232)**|
||||(2,764)|
||||**(47,209)**<br>299,862|
||||**252,653**|



## **15. Related party transactions** 

Donations from Trustees and their related family trusts totalling £94,694 (2022: £22,733) were received during the year.  These donations ensure that no deductions are necessitated from other funds raised to cover the costs of fundraising events, trustee travel expenses, and one-off professional fundraising advisory costs. 


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Himalayan
Trust UK