TRADE TRADE AID UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2025 11 Glasshouse Studios Fryern Court Road Burgate Fordingbridge Hants SP6 1QX
TRADE AID Contents Pag8 Contents Trustses, Annual Report Indep8ndent Examlner's Report statement of Flnanclal Actlvltles Balance Sheet Notss to the Flnanclal Statements 10-16
Trusteesg Report for the year to 31 December 2025 Refcrenee and Administrative Details Trade Aid is a UK registered charity (number 1059925) whose principal address is: 11 Glasshouse Studios, Fryern Court Road Fordingbridge Hampshire SP61QX The Trustees during the year were.. Jane Langford (Chair) Brian G Currie Matthew Maddocks Davld Edmonds Tim Jordan-Dench structure Governance and Managomont Trade Aid is an educational charty focusing on vocational education for sustainable employment, and associated projects. Trade Aid is a not-for-profft organisatlon and relies entirely upon private donations. All monies accrued, whether in Tanzania or in the UK are reinvested in the charity to supporl its projects in Mikindani, Tanzania. Trade Aid is governed by a Trust Deed with a board of incorporated Trustees that meet approximately quarterly. Trustees are recruited by the Board of Trustees through an election process with the Chair having the deciding vote. No single Trustee or extemal body is entitled to appoint Trustees. Trustee visils- Brian Currie and Tim Jordan-Dench visited the Trade Aid projects in Mikindani in March and April 2025 respectivety. To fill the position left vacant following the sad death of Denls Massoi in 2023, Abubakari Nassoro was appointed as a Trustee of Trade Aid Tanzania. The other members of Trade Aid Tanzania Board of Trustees remain unchanged and are Magreth Mwambe. Kate Kamba, Doctor Daniel Ndagala and Brian Currie. In the absence of a full time Project Manager UK these duties continue to be fulfilled jointly by Jane Langford and Pam Field. More and more responsibilities continue to be transferred to the Project Manager Tanzania and his team. Pam Field continues to work remotely from home as Charity Administrator 7.5 hours per week, co-ordinating the charity's activities in the UK. She works closely with the Project Manager Tanzania, Emmanuel Mwambe, and with the Trustees of both Trade Aid UK and Trade Aid Tanzania. Her duties include day-to-day management of Trade Aid UK accounts, general charity
administration, upkeep and maintenance of the Trade Aid websites, co- ordination of marketing activities. As part of the drive to transfer more responsibilities fo staff in Tanzania. during 2025 marketing activities including updating social media accounts, maintenance of the Friends of Mikindani database and the design, set up and distribution of periodic newsletters have been transferred to the team in Mikindani. Emmanuel Mwambe (Project Manager Tanzania) leads a team of 24 stsff in Mikindani and manages the operation of Trade Aid Tanzania and the Old Boma Hotel (the venue for the Trade Aid hospitality training). Consolata Nzali hdb IdK¢ii oli full responsibility for the role of Finance Manggor, assisted by Maria Simon. Donna Wright has reduced her involvement but continues on an a5-needed consultancy basis to assist and mentor Consolata and Maria. Hospitality Training Consultant, Rhoda Kitila, visits the Old Botna Hotel every o months, in addition to working remotely from her home in Dar-es-salaam, to support the project in all training matters. Rhoda Kitila has now taken over the role of HR administration, assisting with recruitment, staff training and performance moniloring. Each member of staff has been set up with their own Office 365 email address to facilitale staff training and HR confidentiality compliance. The Middle Management structure in Tanzania currently comprises seven roles.. Hotel Manager Training Manager English Trainer & Development Manager Finance Manager Operations Manager Maintenance Manager Front Office Manager Education remains the key objective. An online UK based training stream continues to provide courses in English to staff members in subjects such as First Aid, Food Hygiene, IT, Bookkeeping, Hotel Management Skills, as well as specialised courses in keeping with their lob roles. Staff and trainees are encouraged to participate in sporting activities, and coached in personal hygiene and personal finance, to further equip them for their future lives. The community English class continues offer essential language Iraining to the adults of Mikindani and also provides a valuable source of possible candidates for future trainee intake. Achievements and Perfomiance During 2025, as in previous years, groups each of 20 trainees completed their training in Hospitalty and English on schedule. This year's graduates have all secured jobs throughout Tanzania and beyond. Trade Aid is instrumental in finding jobs for the trainees and monttoring their progress throughout their careers.
The Afya Spa, housed in the newly renovated Bank House, offers a range of beauty, massage and spa treatments to guests and visitors to Mikindani. Bank House ground floor rooms have been lel out to a local business. During 2025 a referencelreadlng room was established which provides facilities for staff, trainees and the wlder community to access books and intemet resources. Governorfs House. Following its complete restoration in 2024, this property continues to provide showering, changing and canteen facilities for staff. The landscaped garden with banda provides facilities for hosting weddings and other community celgbrations. In line with the pollcy agreed by the Trustees, the number of children supported through the Child Equality Programme (CEP) for the entirety of their primary and secondary education has fallen from 65 In 2024 to 27 in 2025. This has becorne necessary due to rising costs, high administration demands and the limited donations incoming from private sponsors. As reported last year, responsibility for administering the CEP, as well as the FESS (Further Education Student Support) and the SPF (Small Project Fund) projects have now been transferred to Trade Aid Tanzania. The ¢onseNation work through the Mikindani Museum ('Makumbusho') progressed in 2025 with the help of Robert Williams. Trade Aid benefits enormously from his generous donation of time, expertise and fund-raising efforts. He, together with a small team of volunteers (led by Tim Jordan- Dench) in the UK, ensures that the Museum is ¢onstantly éxpanding and attracting interest. A video documentary focusing on the Museum and the origins, culture and history of Mikindani was filmed and published in 2024. It received his first showing in Darthes-salaam in April 2025. The Tree Nursery programme continues to thrive and expand, supplying local schools with seedlings and helping to teach the children the importance of environmental issues. All schools are Gontinuously monitored to ensure responsible tree management. Several of the cashew trees planted some years ago are now providing the schools with an income. During 2025 the downturn in the number of international guests at the Old Boma continued due to concerns over tension along the Tanzanianlmozambique border. However during the last half of the year, overnight bookings saw an upturn, due to an increase in overseas workers coming into the area and also a number of expats of various nationalities. parlicularly French and Gemian, taking up residence In Miklndani.
The annual Mikindani Day celebration, led by the Trade Aid Tanzania Trustees and Management Team in conjunction w5th local council member8, was held this year in June. The event attracts many high profile visitors which helps in turn to ralse the profile of the charity. Sporting events are an important part of Mikindani Day and initiatives are continuing throughout the year lo encourage staff, trainees and members of the local community to join in the various sports on offer, currently running, swimming, football and netball. It is hoped to build on the variety of sports available and a donation of volleyball equipment recelved thls year from the SW Volleyball Associatio will help enormously with Ihls. Objectlves and Activltles Education for employment will remain the main objective for 2026, with tsyo further cohorts each of 20 trainees receiving comprehensive training at the Old Boma as well as benefitting from field trips and work experience visits. Expanding our internal training provision for staff will continue so that all knowledge gained can be passed through to trainees and wider family members. In 2026 Trade Aid hopes to continue to build on the growth of the relationships it has already made (nationally and internationally), spreading awareness of the valuable work that Trade Aid does. This will be done through continuing to establish new partnerships with educational establishments worldwide and building on a database of past guests and trainees, as well as organisations that are willing and able to support it. Trade Aid will continue to seek out grants for the continuation of the museum's expansion. It will continue to seek fijnding from interested parties and it is hoped to create 'inning, arrangerrents with other museums throughout the world. Trade Aid will continue to work with the local government agencies to support the new by-laws created in 2021. Trade Aid continues to be dedicated in efforts to communicate with local communities on the benefits of conserving historic buildings and the economic benefits of sustainable tourism. This is done through participatory conservation efforts. Trade Aid will Continue to seek fundlng for the protection of historic buildings in Mikindani throughout 2026 $0 that these efforts can continue, and the historic buildings remain both an educational and economic assel to the community.
TRADE AID Trade Aid intends to increase its environmental projects, and its commitment to Combating climate Change. We aim to do this by assessing our reliance on generators, fossil fuels and use of vehicles. Trade Aid also hopes to support small community based environmental projects in Mikindani. We will continue to transfer more responsibility, both administrative and financial, to the local management of Trade Aid Tanzania. Flnan¢lal Review It is the charity's pollcy to retain only suffioient reserves to safeguard the continuity of its overseas operations, thereby committing the maximum possible resources to its current programmes. At the close of 2025, Trade Aid held £17,916.07 in reseNe which is allocated to Trustee-approved projects. In addition, Trade Aid held £20,150.62 in its current account. In 2025, the principal source of project funding continued to wme from the Larasian Group, which also funded all admlnistrative costs, including employee salaries. Funds Held as Custodian on behalf of Othars None Declaration and Public bonofit statement The Trustees believe that they have Gomplied with their duty to have due regard to the guidance ofpublic benefit published by the Commission in exercising their powers and duties. The Trustees declare that they have approved the above Trustees, report. Signed on behalf of the Charity's Trustees Jane Langford Chair of Trustees Dated 21 M Qx>tL
TRADE AID Independent Examiner's report to the truste¢s of Trade Aid I report to the trust¢es on my ¢xamination of the accounts Trade Aid (The Trust) for the year ended 31 December 2025, which are set out oil pages 2 to 16. Responsibilities and basis of report As the charity trustees of the 'lrust you are responsibl¢ for the preparation of th¢ accounts Ill accordance with the requirements of the Charities Act 2011('the Act,). I report in respect of my exam1rtION of the Trustee's accounts carried out under secrion 145 of the 201 l Act and in carrying out my exan]ination I have followed all the applicable Directlolls given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's sthtement I have completed my examiThation. I confirm that no material matters have come to my attention in connection with the exan]ination giving me cause to believe that in any material respect., (l) accounting records were not kept in respect of the Trust as required by section 130 of lh¢ Act. or (2) the accounts do not accord with those records. or (3) the aceounts do not comply with the applicable requirements concerning th¢ form and content of accounts set out in the ch'It]eS (Accounts and Reports) Kegulations 2UU8 otlier than any reqiiir¢ment that the accounts give a 'Lruc and fair view, whicb is not a matter considered as part of an independent examination. I liave no concerns and have Come across no other mlc tters in connection with the examination to which altention sliould be drawn in this report in order to enable a proper understanding of the accounts to be rea¢hed. Signed: James Fletcher FCA Fletcher & Partncrs Chartered Accountants Croivn c1MbrS Bridge Street sISbury SPI 2LZ Date:
Statement of Flnancial Activities Year to 31 December 2025 Note UnrestrEcted Restrlcted 2025 Funds Funds Total Funds 2024 Total Funds Income from: Donations and Legacies Investments Total Income 245.374 47 245 421 12.224 257.598 157,359 47 780 267 645 168 139 Expendlture on: Charitable activities Total Expendlture 225,468 225 466 7590 233 056 250,179 233,056 260 179 Net (eXpenditure)neorne 19,955 4,834 24,589 {92,040) Net movement In funds Reconclllatlon of fund5: Total funds brought fOard 11,282 1,287 12,569 104,609 Total funds carrled forward 5,921 12,569 The Slatèment of Financial Activitl8s has been prepared on the basis that all operations are continuing op8ralions.
'I'RADE Balance Sheet As at 31 December 2025 2025 Total funds 2024 Total funds Note Flxed Assets Tangible fixed asset3 CUrnt Assets Cash at Bank and in hand 38,443 38,443 13,829 13,829 Liabllitles Creditors - amounts falling due within one year 1,285 1,260 Net Current Assets Total Net Assets 37.158 12.569 The funds of the charity Unrestricted funds Restricted income funds 31,237 5,921 11,282 1.287 10 Total Funds 37.158 These financial statements were approved by the board of Triisteès on the and signed on ils behaw.. M14F Jane Langford Chairman aviij Edtnond5 Trustee
TRADE AID Notes to the Financial Statements for the year ended 31$t December 2025 Accountlng Pollcles The following accounting policies have been applied consistently in dealing with it8ms which are considered material in relation to the financial statements.. 1. Basls of Preparatlon Th8 financial statements have been prepared under the historical cost convention and in accordance with United lQngdom Generally Accèpted Accountlng Practice (Uniled Kingdom accountancy standards and applicable regulations), the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard (FRS 102) and the Charities Act 2011. The trustees consider that there are no material uncertainties about the charitys ability to continue as a going cOnrn. There ar& no significant judgemerts that affect items in the accounts. There were no significant assumptions made about the future and no other significant sources of estimation uncertainty al the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities wtthin the next financial year. Income Rocognlllon of Incorne Income is included within the Statement of Financial Activities (SOFA) when:. The Charity becomes entitled to the resource ,> The Trustees believe that receipt is probable The monetary value tsn ba measured wlth sufflcienl reliabillty. Grants, donatlons and gifts Grants donations and gifts are included in the SOFA when the Charity has unconditional entitlement to the resource8. Volunteer help The value of any voluntary help received is not induded in the SOFA bLrt is described in the Trustees Report. Interèst Income Thls Is Included In the accounts when received. io
TRADE AID Notes to the Financial Statements for the year ended 31st Deeember 2025 Accounting Policigs (continued) Expendlture and Liabilitiès Llablllty recognltlon Liabilities are recognised as soon as there is a legal or constructive obligatlon committing the charity to the expenditure. Governance costs These include costs of the preparation and examination of statutory accounts, the St of Trust* meetings and supervisory visits to Tanzania and costs of any legal advice to Trustees on governance or constitutional matters. Grants payable These ar@ only r8cognis8d in the accounts when a commitment has been made and there are no conditions lo be met in relation to the grant. Support Costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating staff costs by time spent and other costs by their usage. Penslons Contributlons are made to a defined contribution scheme and are charged to the accounts as incurred. Taxation No charge to Gurrent or deferr taxation arises as th8 charrty's activities are exempi from UK taxation. Forelgn Curyency Tr8nsactions in foreign currencies are recorded in sterllng at the rale ruling on the date of the transaction. Fund Accounllng Restrlcted funds Restrlcted fvnds represent grants and donations received which can only be used for particular purpose5 specified by the donors. Such purposes are within the overall aims of the charity. A general transfer of 30 /0 of such funds may be made to unrestrided ndS to cover the cost of unallocated general as well as support activities, e.g. the cost of sending UK personnel to Tanzania is not individually allocated although such personnel work on activities nded from both restricted and unrestricted sources. li
TRADE AID Note5 to the Finallcial Slutements for the year ended 315t Deeemb¢r 2025 Accountlng Pollcles (continued) Unre5trlthd funds Unrestricted funds comprlse General funds. General funds represent amounts, which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. Designated fvnds represenl amounts that the Truste8s may, at their discretion, set aslde for speclffic purposes that would olherwlse form part of the 9eneral re5erve5 of the charity. Specifically Trade Aid sets aside funds so that it can protect its orKJoing programme of work from unexpecled variations in income. A88ets Cash at bank and in hand includes Cash on deposit at the bank. 12
TRADE AID Notes to the Financial Statements for the year ended 31fjt December 2025 2. Analysis of donation8 and lagacias Nots UnrestrlGted fund5 Restrlctgd Funds 2025 Total Funds 2024 Total Funds Donatlons and legacles Corporate Donations Tru8t donations Oth&r donations Total donatlons and legacies 244,750 244.750 52.665 624 12224 105474 12.224 3. Expendlture on charltsble actlvltles Note Unregtrlcted funds Restrlcted Funds 2025 Total Funds 2024 Total Funds Costs Dn behaK of Trade Aid Tanzania Grants to Trad6 Ald Tanzania Salaries and staff expenses Travel and staff costs Support costs Governance costs Total ExpendEture on haritablp activities 4,821 187,5( 18,808 1,488 6,182 4,821 195,096 18,B08 1,488 6,182 8,024 216,564 13,237 7.590 7,728 4.626 4. Analysls of support costs. 8upport Costs 2025 2024 Payroll costs In$uranGe Offe running costs 2,808 262 2.438 279 Total support costs All such experTrditure relates lo unrestrthd funds S. Analysis of Governance Costs Governance costs Legal Fees Trustee expenses UK Accounlanls feès Tru51ee expenses TZ 2025 2024 1,096 1.260 1.345 Total govemance costs 4.626 13
TRADE AID Nots5 to the Financial Stalements for the year ended 31d December 2024 6. Foes for oxamlnatlon of the Accounts 2026 2024 Independent examin8rfs f@e 1,260 7. Analysls of Stsff costs Staff Costs 2025 2024 Included wlthln support costs: Gross Wages- UK staff Staff Training Pension costs Employgrs N I Contributions Totsl wlthln support costs Gro88 Wage8- TZ staff (split betW88n Charitable activiti85 and grants to Trade Aid Tanzanial 2,808 2,438 2,808 2,438 Av8rag8 number of full lime employees.. Administration Charitable activities The charity recruits and employs volunteer8 in the UK, who are then pos18d lo Tanzania. Th8ir employm8nt and transport costs are recorded as Grant funding of charitable actimls. In 2025 no UK volunteers worked for thi$ tharty All vttluntÈèrs who a8SlSt8d us in 202S w8r8 Tanzanians working in our 8lSter charity Trade Aid Tanzanb&. No employees r8ceiv8d &mployee benefrts lexGluding employer pen8ion contribution nor employer national insuranco contribulionl of more than £60,000 in e(ther 2025 or 2024. 8. Creditors Credltors: amounts falllng due wlthln one year 2025 2024 Accountancy Accrual PAYE Credttor 1,285 1,260 1.260 14
TRADE AID Ib Notes to the Flnanclal Statsments for tha year ended 31st December 2025 9. Movement on Funds Fund balances as at31 December 2025 Fund balanc95 asat1 Janua 2025 Incomg Ex gndlturg Unrestrlctgd funds Gener81 Funds 11,282 245,421 225,466 31,237 Restrfcted funds GEPICEP TATZ- Fund Mikindani Museum Bank House Brian Currie FESS Communty Fund Tralning Capital Proj6¢ts 12 4,081 1,875 2,218 1,003 208 120 1,091 152 120 7,110 4.650 120 825 2,612 825 7,590 Totsl Funds 267.645 233,056 37.158 10. Movament on funds - Previous year Fund balances as at31 December 2024 Fund balances asat1 Janua 2024 Income Ex endlture Unr8strlGt8d funds General Funds 94.016 52,665 135,399 11.282 Restricted fund8 GEPICEP TATZ Mikindani Museum Bank Housg Small PrOjeS Fund Brian Currie FESS Communty Fund Training Capital Projécts- Govèrnors House 1,474 2,200 1,182 4,978 72 6,333 7,795 2,200 1,900 4,978 7,045 13,875 7,000 12 1,721 1,3 7,125 13,995 7,000 152 687 687 IOS.474 114780 Tolal Funds 104 60B 158 139 250.179 12.569 15
TRADE AID All funds ara held wtihin Current a88et8- { 2025- All within currgnt 8ss8ts1 RostrScted Funds TATZ- a contingency reserve for Trade Aid Tanzania. B88s- Funds donated to 8UPPOrt a group of local be8k@epers in Mikindani. They keep 8tinglès8 bees and 8ell their produce. induding honey, wax etc. SPF - Small Projects Fund. Funds donated each year by Larasian of£2,00012024- £2,000) for use by the Projed Manager TZ t¢ help local people at his discretion. for their 8peciaVemergency needs, iluding health, propety repairs, special education. CEP- Child Education Project. Funds donated by priv81e 8ponsor8 to support local Mikindani children through primary and socondary education. Cornmunity -A fund into which donations for various other personal projects are deposited. For example, in 2018 the then UK Project Manager, Alex Cole, 8ponsor8d the Mikind8ni Football Team and supported a lo¢al Mikindgni man in ill he8h. Pam Fiekl contributed in 2017 and 2023 to the CDSI ol a prosthetic leg for NaSTa Mohammad, employed as receptionist al tha Old Boma Hotel. FESS- Further Education Student Support, Funds reseNed lo sponsor young adults through Further and Higher Education. Donations used to come in from private donors in the UK. This is now funded in Tanzania from part of the donation from Mr & Mrs H8rting. No further funds after 2025 wll be raised in th& UK for thls project. Museum- Funds rgserved for the improvement of the Mikindani Museum, including display materials, exhibits and more recently tho Mikindani Museum Film. Mltengo - Funds donated for a prLiect to build a craft colFege al Mitsngo. Plans for this have been postponed indefi'nitety. Bank Hou58- Funds that w6r6 originally donated by LarasianriTr CurrE for the restoration of Bank House - now completed. TralnSng- Fund for speclal training for TATZ staff, in addition to Iheir"Mrmal Irainlng at tha Old Boma Hotel In HoSpal skllls. English and IT. Twin51BCG - fund into which person81 donations from Brian Currie are paid for various personal proieets in Mikindani. He sponsors. amongst others, school fe8s for'lh8 Twins" Fatuma's shop, Dr Ndagala's Bukoba Museum. 11. Key management personnel and related party tran8actions In Tanzania, Trade Aid operates through an independent Tanzanian registered CharVty- Tra(le M'd Tanzania. Mr Brian Currie, 18 also a Trus18e of Trade Aid Tanzania. Trade Aid Tanzania receiv&8 most of its funding in the form of gTant5 from Trade Aid, although some relatively minor fund8 are rais IDcally in Tanzania. In 2025 Trade Aid UK provided £217,40512024- £101,784) of funds for Trade Aid Tanzania. Trade Aid Tanzania 18 subject lo a full audit of its accounts in Tanzania. Trustees are not remuneraled. £5,316 was reimburged for directly incurred travel expenses lo twts trustées and a spouse who also doe8 voluntary work f¢x the Charity in Tanzania. {2024 - £1,492) 16
TRADE AID During the year the charity recaiv8d £251,86012024.. £143,485) in donations from Iru8tees and entities controlled by trustee8 of the charity. 17