Registered charity number 1069256 Registered company number 03442679 ComputerAid International (A company limited by guarantee) Trustees, Report and Financial Ststements For the year ended 31 March 2024 ComputerAid International Report and Financial Statements Contents Page Report of the trustees Legal and administrative information Independent auditorfs report ststement of financial activities 8-10 11 Balance sheet 12 statement of cash flows 13 Notes fomiing part of the financial statements 14-23 ComputerAld International (a company limited by guarantee) Trustees, Annual Report (Incorporating the Dlrectors, Report) for the Year Ended 31 March 2024 The trustees present their annual report and financial statements of the charity for the year ended 31 March 2024. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their aGcount5 in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019). the Charities Act 2011 and the Companies Act 2006. Chair's Report During the year 2023124 we continued to strengthen our growth and development and ended the year with a £282.867 surplus on the general fund. Our IT asset disposal service has successfully recruited many new donors of equipment notjust in the UK but also overseas where we work through a network of ITAD companies. Companies having introduced working from home and various mobile working practic8s provide laptops for employees rather than desktops. Hence the number of desktops being received has declined significantly. However, for much of our work in schools, laptop computers provide a better basis for setting up computer labs than do desktops. Our achievements during the last 12 months include providing access to technology to over 135 organisations worldwide, 109 schools in the UK, collecting nearly 40,000 IT assets from over 147 companies and through reuse saving over 3m KgC02e from entering the atmosphere or the equivalent of planting 147,000 adult trees. Companies using our IT disposal service create social value through the charitable activities we provide as well as having a positive environmental impact. We are very appreciative of all the support we get in bridging the digit81 divide. I wputd like to thank the trustees for their support during the year. ffiL, Dominic Mcvey, Chair ComputerAid International {a company limlted by guarantee) Trustees, Annual Report (Incorporating the Directors, Report) for the Year Ended 31 March 2024 Objectives and Actlvlties Objectives The charity's objectives are to promote all or any purposes which are deemed charttable in law, particularly but not exclusively by facilitating the recycling and distribution of information technology equipment and training to various parts of the world where it is needed and can be used to benefit the community. ComputerAid seeks to promote poverty alleviation, improve education and health and overcome disadvantage through the use of ICT. Achievements and performance We achieved our overall financial performance target for the year with increased donations of equipment and sales and, as a result. were able to increase our impact and to help many more disadvantaged people. Our mission has always been to bridge the digital divide and to do so in environmentally friendly ways. Hence our fully secure IT disposal service for companies and others helps reduce the environmental impact of digital devices as well as creating social value. We continued to see an increase in funding from companies in the technology sector wanting to support our work in the UK and elsewhere. We have successfully deployed new solar community hubs made from refurbished shipping containers in South Africa and Mexico and have worked with all our community hubs to provide a greater range of services and to ensure sustainability. Additionally, we have established mobile communication centers in Morocco to help overcome the effects of the devasting earthquakes in September 2023. At the time of writing. we are similarly working in Southern Brazil affected by the severe flooding which left thousands of people homeless. We have continued to increase and diversify our marketing activities through our marketing company, Mitchell & Stones. This includes the greater use of video in our digital marketing, undertaking an SEO audit of our website and targeted email campaigns to create new prospects. We completely overhauled our website and relaunched the new version in July 2024. Public Benefit The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit and that the activities carried out by the charity during the year were all undertaken in order to further the charity's airns for the benefit of the Charity's beneficiaries. Financial Review Our net movement in general funds for the year was a surplus of £111,455 (2023: £89,367). The charity's reserves at 31 March 2024 stood at £826,482 (2023: £717,033), comprising surpluses of £543,585 (2023.. £545,591) on restricted funds and £282,897 (2023: £171,442) on unrestricted funds. ComputerAid International (a company limited by guarantee) Trustees. Annual Report {Incorporating the Directors, Report) for the Year Ended 31 March 2024 Donations and grants Various grants and donations are recorded in the accounts from individuals, corporates and trusts, the majority of which was restricted project-based income. Investment policy and performance The trustees have not formulated an investment policy Sin￿ annual income is used to cover annual expenses incurred. Rlsk management The trustees recognise the importance of risk management within the framework of governance and intemal control. The trustees review the risk register at each meeting and agree action to mitigate risks. The risk management policy includes.. A regular review of risks and updating of the risk register. Systems and procedures to mitigate those risks identified in the review. Action designed to minimize any potential impact on th8 charity should any of the risks materialise. Princlpal funding sources The charity's principal sources of income is from the sale, on a not-for-profit basis, of donated ICT equipment to partners and beneficiaries overseas and grants from corporates, foundations and trusts. Some 39.10 of our income is from the sale of equipment. Reserves policy To protect our work against financial and seasonal demand fluctuations, the trustees aim to hold unrestricted funds sufficient to meet 12 weeks of core expenditure. Holding reserves will allow us to make long-temi commitments to projects and to accept larger orders of equipment from beneficiaries with confidence. This need is balanced against a wish to not hold more funds than required, so that we may maximize the amount of resources available to support our charitable objectives. At 31 March 2024 the charity held a surplus on general funds of £282,897, representing 8 months, worth of budgeted core expenditure for the year ended 31 March 2025. Plans for Future Periods We will continue to seek new corporate partnerships eitherto obtain equipment to reuse orfunding. Our targeted email campaigns and making contact through Linkedln and other social media platfonns will continue and greater emphasis placed on freeing up resources to expand this work. Our strategy continues to include making Computer Aid a charity of choice for tech-based companies and over the last ￿e1ve months we have been successful in attracting such support. Our new website appears to be attracting new interest and in the first months attracted a 460/. increase in visits. This was supported by our use of paid Google and Facebook sds for the first time. Our social media followers have continued to grow, and this has been helped by the greater use of video which attracts more interest. All project work now include a video component and we are looking to using Tik Tok as a communication thannel. ComputerAid Internatlonal (a company limited by guarantee) Trustees, Annual Report (Incorporating the Directors, Report) for the Year Ended 31 March 2024 Over the last twelve months we have substantially developed our activities in South Africa which has been an important countryfor our work since our foundation in 1997. This is being done through our sister organization Computer Aid (South Africa). an NGO established in accordance with South African law which was founded and is run by black women. We jointly created a new website for South Africa with the intention of seeking the support of companies to donate equipment andlor to provide funding. Our solar community hubs. supported by Dell Technologies, are also beginning to sell our refurbished computers and developing recycling capacities. Through our website, Computer Aid International receives numerous requests for small numbers of computers which are uneconomic to ship overseas. However, we ship large numbers to Computer Aid (SA) which can then respond internally to such requests. We are seeking to develop a similar approach in Kenya and Nigeria. We have commitments for funding new solar community hubs and digit81 skills projects but will be seeking ways to diversify such income sources and projects. Ensuring sustainability for our project work and creating a lasting legacy is always challenging and we need to identify new in country partnerships to develop this work. Structure, Governance and Management Governing document The organisation is a charitable company limited by guarantee, incorporated in October 1997 and registered as a charity on 22 April 1998. The charitable company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the charitable company being wound up members are r8quired to contribute an amount not exceeding £1. Organisatlonal structure The Chief Executive is responsible for the day-to-day management of the charity. assisted by the Head of Programs and departmental managers and support staff. Decision-maklng Responsibility for the charity's activities and strategic oversight rests with the 8oard of Directors, which meets every quarter. If necessary, the board will hold telephone conferences in between formal meetings to review financial perfomance and other necessary issues. The Board sets the annual budget and measures performance against the key performance indicators. The accounts are circulated monthly to Board members. The Chief Executive reports directly to the Board. The Board has recognised the importance of ensuring proper safeguarding arrangements are in place in all the charity's work and of those of its suppliers and partners, both in the UK and overseas and it reviews the safeguarding policies annually. Recruitment and appointment of trustses The directors of the charitable company are its trustees for the purpose of charity law. The appointment of new directors is the responsibility of the Board. All trustees give their time freely and no trustee remuneration is paid. Trustees are required to disclose all relevant interests and register them with the Chief Executive and withdraw from decisions where a conflict of interest arises. ComputerAid International (a company limlted by guarantee) Trustees, Annual Report (Incorporating the Directors, Report) for the Year Ended 31 March 2024 Trustee Induction and training New trustees are expected to spend time with the senior management to familiarise themselves with the workings of the organisation, its finances and related issues. They receive copies of the governing documents and a set of the latest accounts and the Charity Commission's guidance on the duties of a trustee. Senior staff attend trustee meetings and report on developments 2nd issues. Staff remuneration policy Although all staff salaries are subject to yearly review this does not guarantee a pay rise and there is no contractual right for an annual pay rise. The trustees introduced a performance related bonus scheme dependent upon financial targets being met on a quarterly and whole year basis. The yearly targets have been met in each of the past iwo years. Trustees, Responsibilitie5 in Relation to the Financial Statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year. which give a true and fair view of the state of affairs of the charitable company 8nd of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing the financial ststements. the trustees are required to: Select suitable accounting policies and then apply them., Observe the methods and principles in the Charities SORP. Make judgments and estimates that are reasonable and prudent., stste whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose wtth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hen￿ taking reasonable steps for the prevention and detection of fraud and other irregularities. The tnjstees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislab'on in other jurisdictions. ComputerAld International (a company limited by guarantee) Trustees, Annual Report (Incorporating the Directors, Report) for the Year Ended 31 March 2024 Statement as to Dlsclosure to our Auditors In so far as the trustees are aware at the time of approving our trustees, annual report.. There is no relevant information. being information needed by the auditor in connection with preparing their report. of which the COTnpany's auditor is unaware. The trustees. having made enquiries of fellow directors and the company's auditor that they ought to have individually taken. have each taken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant audit informalion and to establish that the auditor is aware of that informab'on. Auditors A resolution proposing the re-appointment of Arnold Hill LLP as auditors to the company will be put to the annual general meeting. Approved by board of Trustees on 27 January 2025 and signed on its behalf by: D E H Mcvéy,. Financial Trustee ComputerAld International Legal and Admlnistrative Informatlon Reference and administrative informatlon Charity name.. ComputerAid International Charity registration number.. 1069256 Company registration number: 03442679 Registered office and operational address.. 33 Foley Street London W1W7TL Directors and Trustees D E H MGVey, Chair A S Sancho Pascoal I C Ha￿lSOn L F Round R T Baldry S N Hirdaramani D Mills D Dearlove Appointed 24 Octob8r 2023 Appointed 4 September 2024 Resigned 30 October 2024 Resigned 1 July 2024 Company Secretary D Dearlove Chlef Executive Officer K R Sonnet Independent Auditors Amold Hill & Co LLP Chartered Accountants and Statutory Auditors 6th Floor Capital Tower 91 Waterloo Road London SE18RT Bankers Lloyds Bank plc 31-33 Holloway Road London N7 8JU ComputerAid International Independent auditor's report to the members of ComputerAid International Oplnlon We have audited the accounts of CompulerAid Intemational for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and the notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally A￿pted Accounting Practice). In our opinion, the financial statements-. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with ihe requirements of the Companies AGt 2006. Basis for opinion We conducted our audit in accordance with Intemalional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in aGcordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance Mth these ￿quirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other Information The other information comprises the information included in the annual report other than the financial statements and our auditor's report Ihereon. The Trustees are responsible for the other information contained wilhin the annual report. Our opinion on the financial statements does not cover the other information and. except to the extenl otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be malerially misstated. If we identify such material inGonsistencie5 or apparent material misstatements. we are required lo determine whelher this gives rise to a material misstatement in the financial statements Ihemselves. If, based on Ihe work we have perfom)ed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Trustees, report, which indudes the directors, report prepared for the purposes of company law, for the financial year for which the financial stalements are prepared is consistent with the financial statements-, and Ihe directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. ComputerAid International Independent auditor's raport to the members of ComputerAid International Matters on which w8 are required to report by exceptlon In the light of the knowledge and understsnding of the Trustees and its environment obtained in the course of the audit. We have not identified malerial misstatements in the Trustees, Report. We have nothing io report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have nol been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums., or certain disclosures of trustees, remuneration specified by law are not made-, or we have not received all the information and explanatlons we require for our audit., or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explaSned more fully in the statement ofTrustees' responsibilities, the Trustees, who are also Ihe directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Ihe Trustees are responsible for assessing the charity ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charlty or to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from materfal misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when It exists. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instanc8s of non 585,344 (41.759) 1,065.978 (226.991) (12.535) 282,867 282,897 543.585 826,482 Prlor year Fixed assets Current assets Current liabilities Long term liabilities 318 318 289.125 (174.928) (32.440) 318 885,457 (191.466) (32,440) 289,125 (174.928) {32.440) 596.332 (16.538) 81.757 318 82.075 579.794 661.869 20 ComputerAid Intemational Notes to the Flnanclal Statements For the year ended 31 March 2024 19 Movement in funds At 1 April Income Expenditure Transfers At 31 March Current year Restricted funds - capacity building projects: Airbus Dell Technologies Donations via Charities Trust (Dell projects) SITA Geeks on Wheels The Calleva Foundation Cognizant Income and donations via Utelize Ladbrokes Metlife Recycle IT 4U Ltd Mobliciti - Donation for solar leaming hub Opia CDW UK Equinix UKG 44.410 297.552 16.011 77.185 11.728 9.605 5,191 51,049 9,499 14.953 2,259 5,000 1.149 {30.363) {370.158) (16.826) (49.887) {8.282) {5.912) (3.238) (33,473) (9,947) (8,561) (2.259) (5,000) (1,149) (50,777) (14.047) (121.585) (16,011) {27.298) (3.446) 556.521 16.826 362,330 18.000 21.693 (1.953) (28.831) 448 45.165 33.910 6,392 115.298 88,555 46,700 (18,801) (11,128) (4,798) 45,720 77,427 (3,887) (45,789) Total restricted funds 545,591 887,065 (641,621) (247,450) 543,585 Unrestricted funds Designated fund - tangible fixed assets fund General fund 174 171,268 (144) 247,594 30 282,867 726.218 (862.213) Total unrestricted funds 171,442 726,218 862.213) 247,450 282,897 Totsl funds 717,033 1,613,283 (1.503,834) 826,482 Transfers are made from restricted project funds to general funds as the projects are delivered and the charity becomes entitled to project management. monitoring and evaluation fees. Transfers are also made where the charity uses donated equipment to supply to projects. at rates agreed with funders. 21 ComputerAid International Notes to the Flnanclal Statements For the year ended 31 March 2024 19 Movement in funds (continued) At 1 April Income Expenditure As restated As restated Transfers At 31 March Prior year Restricted funds - capacity building projects: Airbus Dell Technologies Donations via Charities Trust (Dell projects) SITA Geeks on Wheels The Calleva Foundation The Arhuaco Community Project Cognizant Income and donations via Utelize Ladbrokes Metlife Recycle IT 4U Ltd Mobliciti - Donation for solar learning hub Opia Other 44.997 381,543 16.011 (462) {387,664) {125) (70.778) 44,410 297,552 16,011 77,185 11,728 9,605 374,451 132,355 26,118 8,399 6,938 (19,881) {190,475) (1,944) (5,919) {45,611} 13,706> (18,616) (35,289) (90,152) (6,850) (1,019) (9.198) (1,491) 266,237 10,000 60,000 33,121 28,115 14,953 5,191 51,049 9,499 14,953 2,259 5,000 1,149 23.125 2,259 5,000 1,149 445 (445) Total restricted funds 579,794 855,422 1674,278) 215,347 545,591 Unrestricted funds Designated fund - tangible fixed assets fund General fund 318 81.757 (144) 215,491 174 171.268 722,241 (848,221) Total unrestricted funds 82,075 722,241 {848,221) 215,347 171,442 Total funds 661.869 1.577.663 {1.522,499) 717,033 Restricted funds The charity delivered a number of capacity building projects during the year, providing training, technical support, building work and other infrastructure requirements to ensure the effective utilisation of ICT equipment to achieve program objectives. Designated funds The tangible fixed assets and investments funds represent the net book value of tangible fixed assets and cost of investments in subsidiaries and associated undertakings respectively, and are designated by the trustees to reflect the fact that these funds are not in a liquid fomi and so are not expendsble funds. 20 Commltments In respect of property licences 2024 2023 At 31 March 2024 the Charity had future minimum lease payments under a non-cancellable property licence as follows: Not later than one year 3.075 15,375 ComputerAid International Notes to the Financial Statements For the year ended 31 March 2024 21 Transactions wlth related partles The charity has registered a branch office in Kenya in order to carry out its charitable actiwties there. The branch registration number is F. 8412005. The Kenyan branch prepares its own accounts locally, and the results of the branch for the year ended 31 March 2024 and its financial position as at that date were as follows: 2024 KES 2023 KES Profit and loss aGGount Income 481.706 400.000 Operating costs (467.581) (390,400) Result for the year before tax 14,125 9,600 Balance sheet Receivables 133,320 Cash at bank 46.190 417.064 Creditors: amounts falling due within one year (90,000) (341,680) Net assets 89,510 75.384 The charity provided grant funding to the Kenyan branch during the year amounting to KES 475,000 (2023: KES 400,000). At 31 March 2024, the charity owed KES 133,320 to the Kenyan branch (2023: KES 251,680 owed by the branch). The results of the Kenyan branch are not consolidated into these accounts. The branch was y￿und up and de-registered as of 31 March 2024 as the charity no longer has a taxable presence in Kenya. The charity maintained indemnity insurance on behalf of the trustees during the year. 23