Charity number: 1068313 UNITED AID FOR AZERBAIJAN TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
UNITED AID FOR AZERBAIJAN CONTENTS Pages Reference and administrative details Trustees, annual report 2-11 Independent examinerfs report 12 Statement of financial artivities 13 Balance sheet 14 Notes to the f inancial statements 15-18
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 REFERENCE AND ADMINISTRATIVE DEfAILS Trustees Amanda Hopper Rachel Harrison Arthur John Loftus Patterson Reglstered Charity Number 1068313 Principal Office 30 St Mary's Road Leatherhead Surrey KT22 8EY Local Office 520 Huseyn Javid Prospect House 2 Baku Azerbaijan Independent examlner Jason Foxwell FCCA FCIE 12 Hillbourne Road Poole BH17 7JB
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their annual report together with the financial statements of the charity for the year ended 31 December2025. The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their atcounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Strurture The Trust was formed on 16 January 1998 by a declaration of trust. The trustees who served during the year were.. Amanda Hopper Rachel Harrison Arthurjohn Loftus Patter50n There were no changes in the make-up of the Board this year. We recruit new Board members on the basi5 of the needs of the Board and in particular to ensure that the Board tontains a good range of skills, experience. perspertives and expertise. Recruitment is by a mix of personal recommendation and advertisin& specifying the particular skills required. Personal recommendation comes from other Board members, Staff, advisors and users of United Aid For Azerbaijan services. A candidate meets first with both the Chair and Executive Director before being invited to meet other Board members, which is followed by a formal interview by existing Board members. Election to the Board is by a vote of existing Board member5. The United Aid for Azerbaijan maintains a right to have two of its appointees on the Board at any one time and appointees need to be approved by a vote of the entire Board. The Board is currently considering fixed terms for its members and roles. Induction and Training of Board Member5 New Board members are provided with background materials on the activities and history of the charity and spend time with members of staff learnin8 about the various operations of the charity. Those trustees with particular interests in legal and financial matters (Treasurer, for example) are briefed in detail on processes, systems. and reporting procedure5. and are given appropriate dirert access to information systems. Trustees are also invited to meet users of Unlted Aid For Azerbaijan services. Running the Charity The charity's governing body, its Board, meets 2-3 time5 a year, according to the Governing Document. With the use of modern communication methods which suit international organisations, the Board and Director are able to have regular online meetings. The Board sets strategit direction and oversees the proper operations of the charity but doe5 not generally involve itself in detailed operational matters and decisions.
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEM8ER 2025 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) Responsible to the Board is the Chief Executive Offlcer, Ms Gwendolyn Burchell MBE. who is invited to attend and report to Board meetings. Ms. Gwendolyn Burchell manages all operational matters, including manaEement of other staff, and may also recommend policy to the Board for it5 discussion. The Chief Executive Officer 15 not authorised to commit the charity to any single new expenditure over £2,000 without prior Board approval. All expenditure requires at least two signatures, one of which must be from a Trustee. Risk management The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitl8ate exposure to the major risks. There is a register of r55ks and contingency plans for significant disasters. UAFA con515tently maintains Fts direction with regards to its mission and objectives in Azerbaijan, working towards a child welfare system that emphasises family care, inclusion an¢J ed¥Jcation for all. 2025 Summary Introduction Key priorities for 2025= Finding 5UStainable solutions to grant registration barriers affertin8 NGOS. Scaling the Mektebim program through expanding the social franchising model. Lauftching the LMS platform with content and training modules. Continuing to build strategic partnerships to diversify fvnding and ensure sustainability. Review and redesign UAFA'S website to communicate our organisational development. Detalled Report on Actlvltles- 2025 Key Program Areas l. Mektebim Program Development By the end of 2025, a total of 32 Mektebim Early Childhood Development IECD) centres were operatlonal across Azerbaijan. These centres are located in Baku. Khirdalan, Sumgayi( Guba, Khachmaz. Ganja, Saatli, Hajigabul. Shirvan, Samukh, and Siyazan. providing locally accessible early learning opportunities within their communities. During the reporting period, the programme continued to expand through a structured recruitment and selection process designed to identify women entrepreneurs with the potential to establish and manage Mektebim centres. A total of 250 applications were received and reviewed. Following the inltlal screening process. 200 candldates participated in structured telephone Intervlews, and approximately 100 candidates were invited to individual in-per50n interviews. Based on predefined selection criteria. 22 women entrepreneurs were ultimately selected to join the Mektebim network.
UNITED AID FOR AZERBAIJA14 YEAR ENDED 31 DECEMBER Z025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) KPI- 2025 Target: Recruitment of 25 women entrepreneur5 Result: 22 women entrepreneurs were successfully recruited. The slight variance from the target was due to Increased asset procurement C051s, which affected purchasing capacity within the available budget. As a result, 22 complete sets of assets Itoys and educational equlpment) were procured and distributed to newly established centres. Beneficiary Impact The newly established Mektebim centres are currently supporting approximately 300 chlldren. providing access to quality early childhood development servlces within their local communities. Where applicable, participating children include those from diverse socio*conomic backgrounds, with an emphasis on Incluslve, child-centred early learnlng environments that support cognitive, social, and emotional development during the critical early years of life. These centres also serye as community learning hubs, strengthening access to early childhood education in areas where formal services are often limited. Contribution to Sustainable Development Goals ISDGsl The Mektebim initiative directly contributes to the following United Nations Sustainable Development Goals: SDG 4- Quallty Education Expanding access to inclusive and hIghuality early childhood education. SDG 5- Gender Equality Supporting women's entrepreneurship, leadership, and economic participation. SDG 8- Decent Work and Economic Growth Enabling 5U5tainable livelihoods through small business development and community-ba5ed employment. Training and Capacity Buildin8 Alongside the recruitment and establishment of centres, UAFA continued to provide structured training and professional development opportunities for pro8ramme participants. During 2025, the UAFA team delivered 150 hours of tralnlng, with approximately 60 women participating in capacity-building activities aimed at Strengthening both entrepreneurial skills and early childhood development competen¢ies. As part of this training programme.. Three online 5ernlnar5 were delivered One lTrperson leadership workshop was organised
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) In addition to group-ba5ed trainin81 the UAFA team provided 30 hours of individual mentorship to Mektebim centre owners. These mentoring sessions were delivered upon request and tailored to address specific operational, mana8erlal, and strategic needs, ensuring that centre owners received practical support during the early stages of programme implementation. Programme Implementation All stages of programme implementation includinE Outreach, candidate selertion, training delivery. and network coordination were planned and carried out by a dedicated UAFA team of flve professlonals. This team included specialists in child development, busine55 developrnent, finance, and programme management, working collaboratively to ensure the quality and sustainability of the Mektebim netsv0. The successful implementation of the programme was made possible throu8h the continued sUPPOrt and valuable contributions of UAFA'S partners. Without thi5 SUPPOrt, the scale and impact achieved during the reporting period would not have been possible. Impact Narrative- Community Perspective Beyond the quantitative results, the Mektebim programme continues to generate meaningful change at the community level. By supporting women to establish and manage early childhood development centres, the initiative strengthens local education ec05Y5tems while empowering women as entrepreneurs, educators, and communlty leaders. For many families. Mektebim centre5 represent the first opportunity for their children to access structured, inclusive. and developmentslly appropriate early learning environments. These earty experiences play a Crucial role in supporting children's long-term educational readiness and social development. At the same time, the programme contributes to local economic resilience by enabling women to establish sustainable small businesses that provide valuable seniices withln their communities. Partnerships Supporting the Programme The continued growth and sustainability of the Mektebim programme is made p055ible through the 5UPPQrt of several key partners. Azer5un Holding Now in its fourth year of sUPPOrt, Azersun Holding provide5 core funding that enables UAFA to maintain its programme delivery team. This funding 5upport5 the work ofr. two Child Development Specialist5 one Business Development Manager one Finance and Contracts Manager This partnership provide5 essential operational stability for the programme.
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) Church of Jesus Christ of Latter-day Saints A new partnership established in 2025, this collaboration sUPPOrted the programme through.. the provision of 25 sets of educational assets (toys and equipment) valued at approxlmately £2,000 per set funding for the editing and refinement of the Mektebim Pedagogical Programme, a 49-weekcustom designed teaching pack, and the accompanying Methodological Guidano. This partnership is purely soclal support and carries no religious conditions. Worley Foundation The Worley Foundation has committed to a tYear fvnding partnership, providing £5,OIXI per year to support the programme. Thi5 funding will contribute to the purchase of approximately six sets of educational assets, enabling the continued expansion of the Mektebim network. Additional note.. All programme partners also tontribute through voluntary engagement. including staff participation in events, opportunities to promote the Mektebim initiative, and regular visits to Mektebim centres and network activities. 2. Learning Management System ILMSI Development The development of UAFA'S Learnlng Management System {LMS) represents a key component of the organisation's long-term sustainability and irnpact strateyi. The platform has been designed to extend UAFA'S training expertise beyond in-person programme5 by delivering high-quality educational contentthrough digital channels. By digitising it5 training resources, UAFA aims to make its knowledge and methodologies accessible to a wlder audience of educator5, social sector professionals, and communlty leaders across erbalIan, whiSe also strengthening the sustainability of its pro8ramme model. During 2025, with the support of partners, UAFA successfully filmed four professional training courses. producing more than SO hours of online educational content. These courses are designed to support professional development in areas related to early childhood developmenl leadership. and bu5ine5S management. In preparation for the launch of the platforni, UAFA has developed the full educational structure for the courses, including: detailed course outline5 and curricula supporting learning materia15 and handouts structured traininE modules designed for online delivery These materials will form the foundation of UAFA'S digital training offer and will be available to future students through the LMS platform.
UNITED AID FOR AZERBAIJAN YEAR ENDED 310ECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 310ECEMBER 2025 (Continued) The LMS initiative also plays an important role in promoting UAFA'S broader Human Capital Development approach, of which the Mektebim programme and the LMS platform represent two interconnected components. Together, these initiatives aim to strengthen the capacity of individuals and institutions working in education, health, and the social sector. Alongside the online training courses, UAFA has developed a range of complementary workshops and consultancy Services that provide deeper engagement and practical application of the training materials. These seNices are designed to support organisations seeking tailored capacity-building support. In addition, the platform will host downloadable educatlonal products, including: the Mekteblm Pedagogicol Programme, a 49-week structured teaching framework the Methodological Guidance, which provides practical support for Implementing the pedagogical approach These resources have been developed through UAFA'S years of practical programme experience and represent valuable tools for professionals working in early childhood development and community education. The LMS will offer a combination of free and paid courses. workshops. and dlgltal products, ensuring that the platform remains both accessible and financially sustainable. Thè pricing strategy has been designed with affordability in mind, targeting professionals working in.. the education 5ertor the health sector the soclal ser¥lces sector private sector professionals with limited access to international-level training opportunities. A key distinguishing feature of the platform is that all training Courses, workshops, and resources are delivered In the Azerballanl language. As a result, the LMS will provide access to speclallsed, locally relevant tralnlng materials that are ¢urRntly unavailable through other channels. The platForm therefore fills an important gap in the local professional development landscape by providing high-quality, culturally relevant training tsilored to the needs of Azerbaijani professionals. UAFA experts the official launch of the LMS platform in early 2026. marking an important milestone in the organisation's efforts tQ Scale it5 impact and expand acce55 to professional training. The income-generating aspects of UAFA'S work are undertaken under the legal framework of a registered company, which assumes liability for taxation. A contract between UAFA and the registered company defines the respective roles and responsibilities of the two parties.
UNITEO AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER Z025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) Pro¥hl•s gart4JpAuofs-_ Donors -Ctr4•rs Op•radon Costs ouaf LMS Usaqlara Dastak iOkA2N ..Wotth tsfTrnihlr<l*%ets Supplies TrnivirilProdvc15 R•wrnsPrork.' '. g))W F•• Market Mektebim Franchise Key Partnersupporting LMS Development Media Balance - Digital Marketing Agenry The development of the LMS trainin8 content was made p055ible through the generous support of Media Balance, a digital marketing agency that contributed the filming and edltlng of all four trainlng course5 on a pro bono basis. Their professional support ensured the production of high-quality digltal learning materials and played a crucial role in enabling UAFA to advance the development of the LMS platform. Organisational Challenges During 2025, UAFA continued to operate within a challenging enviroftment for civil society organisations in Azerbaijan. Limited access to funding and delays in grant availability affected the organisation's operational pacity, including the ability to maintain a dedicated office space. As a result, the UAFA team tontinued to operate primarily through remote worklng arrangements. While this model allows the organisation to remain operational and c05t-efficient, it also presents challenges in temis of coordination, administrative flow, and programme management.
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) Despite these constraints, the organisation has maintained a highly committed and collaborative team structure. Working tlosely together over several years has enabled the team to build strong professional relationships and a shared commitment to UAFA'S mission. This has strengthened the organi5ation's abllity to navigate funding delays, respond to a changing civil society landscape, and continue delivering programmes despite limited resources. In response to these challenges. UAFA'S Founder and Director developed a Human Capltsl Development Strategy. This strategy articulate5 the underlying rationale for UAFA'S work, drawing on the organisation's history, programme experience, and long-term vision for strengthening human capital and community-based education in Azerbaijan. The strategy provides a framework that connects UAFA'S key Inltiatives including the Mektebim programme and the Learning Management System (IMS) - within a broader model aimed at strengthening individual skills, professional capacity, and tommunity development. Throughout 2025, this strategy has been presented to a range of private sector stskeholders. with the aim of increasing awareness of UAFA'S approach and demonstrating how investment in human capital development contributes both to ljusiness Interests and broader national development goals. More broadly, the global non-profit sector has experiersced significant disruption in recent years. Manv organisations have faced increased funding uncertainty, shifting donor priorities. and reduced institutional capacity following global economic pressures and changes in development funding patterns. These developments have resulted in the loss of experienced personnel and reduced operational capactty acmss many civil society organi5ations. UAFA anticipated elements of these challenges earlier due to the progressively constrained tivil sotiety operating environment experienced over the past decade in Azerbaijan. As a result, the organisation began adapting its operational model and programme strategy well in advance of the wider sector adjustments. The development of UAFA'S Human Capital Development Strategy reflects this forward-looking approach and has enabled the organisation to remain flexible and resilient despite a changing global and national environment for non-profit organisations. Expansion of the Mektebim Network UAFA will continue to expand the Mektebim Early Childhood Development network across Azerbaijan, with target of establishing an additional 30 new Mektebim centres. This expansion will further intrease access to community-based early childhood education while 5UPPOrting women's entrepreneurship and local employment opportunities. Launch of the Learning Management System (LMS) Following the development phase completed in 2025, UAFA plans to offitially launch the LMS platform In 2026. The organisation has set a key performance target of sellin8 more than 200 courses during the flrst year of operation. establishing the plarform as a sustainable channel for professional developrnent and knowledge sharing. Development of New Digitsl Training Courses UAFA will continue expanding its digital training portfolio. The first new course planned for development IS a comprehensive Child Protection training programme, designed to support educators, social workers, and professionals working with children. This course will address a significant need ft)r specialised, locally relevant training in this area.
UNITED AID FOR AZERBAUAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 {Continued) Digital Innovation in Earfy Childhood Development IECD) UAFA will explore additional digital tools and innovations that support early childhood development and professional capacity buildinE, inclu(Jing new training forrnat5. digital resource5, and tools that strengthen the delivery and impact of the Mektebim programme. Strengthening Flnanclal Sustainablllty through Social Enterprlse As part of its long-term sustainability strategy, UAFA aims to generate at least 30% of its annual budget through social enterprlse activitles, including LMS training courses, consultancy seNices, workshops, and educational products. This approach will help diversify funding sources and reduce reliance on grant-based income. Acknowledgement5 LIAFA extends sincere gratitude to its partners, donors, and dedicated team members who stood by the or8anization during these challenging years. The progress made in 2025 is a testament to the resilience of our community and the enduring value of our mission.
UNITED AID FOR AZERBAUAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) Flnancial Review For the year ended 31 December 2025, the results show a surplus of £42,57912024- deficit of £41,013) and total reserves of £17,25712024- negative £25,322). Reserve5 Policy It is the policy of the charity that unrestrirted funds which have not been designated for a specific use should be maintained at a level equivalent to 6 months, committed expenditure. The trustees consider that working with reserves at this level would ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. However. it is also recognized that due to the fluctuating financial income of the charity, this level may not always be possible and costs would be lowered in cases of a prolonged drop in funding. Trustees, Responsibility Statement The Trustees are responsible for preparing the Trustees, Report and financial statements in accordance with applicable law and UK Accounting Standards. The law applicable to charitie5 in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl.
UNITED AID FOR AZERBAJJAN YEAR ENDED 31 DECEMBER 2025 TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) In preparlng these financial statements, the Trustees are required to: Select 511itable accounting policies and then apply them consistently- Observe the methods and principle5 in the Charities SORP; Make judgements and accounting estimate5 that are reasonable and prudent- State whether applicable UK Accounting Standards have been followed, subject to any material departure5 di5c105ed and explained in the financial 5tatement5.' and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The trustee5 are re5pon5ible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement comply with the Charities Act 2011. They are a150 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. This report was approved by the Trustees and signed on their behalf bv: Dr Amanda Hopper Trustee and Chair Date.. 218WAJ (( 2o2Q
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UNITED AID FOR AZERBAIJAN FOR THE YEAR ENDED 31 DECEMBER 2025 I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2025. Responsibilities and basls of report As the charit$ trustee5, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.the AcV}. I report in respect of my examination of your Charity's accounts as carried out under section 145 of the Act. In carrying out my examination I have followed the Directions given by the Charity Commission under settion 145151 Ibl of the Act. Independent examlnerfs ststement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examination giving me cause to believe: accounting records wefe not kept in respert of the Charity as required by section 130 of the Act. or 2. the accounts do not accord with those records; or 3. the account5 do not comply with the applicable requirements concernin8 the form and content of the accounts set out in the Charities IAccounts and Reports) Regulations 2tK)8 other than any requirement that the accounts give a 'true and fair view, which 15 not a matter considered a part of an independent examination. I have no concerns and have come acr0s5 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. Jason Foxwell FCCA FCIE independent-examiner.net 12 Aillbourne Road, Poole, BH17 7JB Date: 5 September 2026 13 | Patre
UNITED AID FOR AZERBAIJAN YEAR ENDED 310ECEMBER 2025 STATEMENT OF FINANCIAL ACTIVITIES 'FOR THE YEAR ENDED 31 DECEMBER 2025 Notes Unrestrirted Funds Restricted Funds Total Funds 2025 Total Fund5 2024 Income from: Charitable activities 90,621 90,621 37,043 Totsl Income 90,621 90,621 37,043 Expenditure on: Charitable activities 48.042 48,042 78.056 Total expendlture 48.1)42 78.056 Transfers between funds Net movement in funds 42,579 42,579 (41,0131 Reconciliation of funds: Total funds brought forward 125,3221 125,322) 15,691 Total funds carried forward 17.257 17,257 125,322) All of the charity's activities derive from continuing operations. The notes on pages 15 to 18 form an integral part of these accounts. 141 Page
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 BALANCE SHEEf A5 AT 31 DECEMBER 2025 2025 2024 Notes Tanglble flxed assets 20,933 Current assets Cash at bank Petty cash Taxes IVAn 4,617 361 1,279 777 385 27.723 6,258 28,884 Creditors: amounts falllng due within one year 19.9331 154,2061 Net current assets 13.6751 125.3221 Total assets less Current liabilities 17,257 125,3221 NET ASSETS £17,257 £125,322) The funds of the charity: Restrirted funds Unre5tritted income funds 17,257 125,3221 £17,257 £{25,322) The account5 were approved by the trustees. authorised for issue and signed on their behalf by. Dr Amanda Hopper Trustee and Chalr Date.. The notes on pages 15 to 18 form an integral part of these account5. 151 Page
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 I. ACCOUNTING POUCIES 1.1. Basi5 of preparation of the accounts The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applitable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151- Icharities SORP IFRS 10211, and the Companies Act 2006. UAFA meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transartion value unless otheise stated in the relevant accounting policy notes. 1.2. Goinz Concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any Significant areas of uncertainty that affect the carrying value of a55ets held by the charity. 1.3. Income Income is included in the Statement of Finantial Activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability. 1.4. Expenditure Expenditure is charged to the Statement of Financial Activities on an accruals ba5iS as a liability 15 incurred. 1.5. Tanglble fixed assets and depreciation Fixed assets Ifumiture, toys, and devices) are received in 2025 from the donor which were distributed to the newly opened private pre-schools as part of the organisation's programme delivery. Under the tems of the agreements with the entrepreneurs, ownership of the assets remains with UAFA for the first three years, although the assets are held and used by the pre-schools in delivering charitable acLivitie5. After three years, ownership transfers to the pre-school owners. In accordance with the organisation's accounting pollcies and the Charities SORP. these items are recogni5ed as tangible fixed assets. as they are controlled by the organisation and used in furtherance of its charitable activities. A55ets are capitalised on a grouped {"pre-school package") basis where this better reflects their use. The total value of asset5 recogni5ed wa5 GBP 31K. Depreciation lat one-third of value) of GBP IOK was charged during the year. The net book value of these assets at the reporting date wa5 GBP 21K.
UNITED AID FOR AZERBAIJAN YEAR ENDED 31 DECEMBER 2025 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 (contlnued) I. ACCOUNTING pouaES {continuedl Foreign exchange Transartions in foreign currencies are recorded at the rate of exchange at the date of 31 December 2025. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. Fund accourrting 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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the note5 to the account5. 2. STAFF Cosrs Staff c05t5 were as follows.. 20Z5 2024 Wages and salaries Social security costs 16.362 2,987 57,745 9,319 £19,349 £67,064 None of the employee5 received remuneration in exce of £60,0(M) {2024- nill. 171Page
UNITED AID FOR AZERBAIJAN YEAR ENDEO 31 DECEMBER 2025 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 (continued) 3. TANGIBLE FIXED ASSEts Furniture Devices Toys Total C05t Additions and at 31 December 2025 15,950 6,455 8,993 31,398 Depreciation Charge for the year and at 31 December 2025 5,317 2,152 2,998 10,467 Net Book Value At 31 December 2025 £10,633 £4,303 £5.995 £ZO,931 4. CREDITORS 2025 2024 Payroll taxes Wages Supplier Directorfs loan 289 5,164 4,479 10,503 16,409 1,420 25,874 £9,932 £54,206 181Page
UNITED AID FOR AZERBAIJAN YEAR ENDED 310ECEMBER 2025 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 (continued) 5. ANALY515 OF NET ASSETS BETWEEN FUNDS Unrestrlcted funds 2025 Restrirted funds 2025 Total funds 2025 Total fund5 2024 CUrnt assets Creditors due within one year Tangible fixed assets 6,258 19.9321 20.933 6.258 {9,9321 20,933 28,884 154,2061 £17,257 £17,257 £125,322) 191 Page