Educating young Zambians for a better future www.cecilysfund.org Annual Report for the year ended 31 December 2023
Cecily's Fund Annual Report 2023 Legal and administrative information (1) Trustees: Stephanie Harland (Chair) Philippa Tolmay (Secretary) Andrew Tacon (Treasurer) Veronica Oakeshott (resigned September 30, 2023) Tom Childs Basil EaSoOd CMG Isobelle Jaques Associates: Lady Moody-stuart Jessica Boyd Corinna Witt Sheila Phillips Tanya Chikanza Janet Machin International Advisory Panel: Basil Eastwood CMG (Chair) Director: Cheryl Hooper Page 1
Cecily's Fund Annual Report 2023 Legal and administrative information (2) Registered office: 30 St Giles Oxford Oxfordshire OX13LE Charity number: 1071660 Webslte: www.ClIYsfUnd.0rg Independent Examiners: Wenn Townsend 30 St Giles Oxford Oxfordshire OX13LE Bankers: CAF Bank Ltd Kings Hill West Malling Kent ME19 4JQ Natwest Bank Central (F) Branch 43 Cornmarket Street Oxford OX1 3HA Sollcltors: Royds Withy King North Bailey House New Inn Hall Street Oxford OX12EA Page 2
Cecily's Fund Annual Report 2023 Trustees, statutory report The trustees present their report and the unaudited financial statements for Cecily's Fund (registered name The Cecily EaSoOd Zambian AIDS Orphans Appeal) for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) published in October 2019. The charity is governed under a declaration of trust, dated 11 September 1998. Trustees of the charity The trustees who have served during the year and since the year end are listed in the legal and administrative information above. Objectives and activities The charity provides support to orphans and vulnerable children many of whom have been affected by HIV IAIDS in Zambia. This support reflects our belief that the power of education is a major contributor to improving children's livellhoods and self-reliance in order to give them a brighter future in adult life. The various programmes which we undertake are designed: a) To enable the orphans and vulnerable children to go to school b) To support the children to succeed at school c) To prepare the children for life beyond school, and d) To strengthen community support for orphans, education The various programmes are managed by the staff of the charity in conjunction with three Zambian partner organisations with whom close working relationships have been established. The partners with whom the charity has worked during the year are Bwafwano Integrated Services Organisation (BISO), the Copperbelt Health Education Project (CHEP) and Care Providers Foundation (formerly Kaloko Trust Zambia). Public Benefit Statement The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. Page 3
Cecily's Fund Annual Report 2023 Fundraising We remain committed to ensuring that we carry out our fundraising in a clear, honest and open manner. The charity has regard for the guidan issued by the Fundraising Regulator. Fundraising activity, within the overall strategy of the charity, is kept under regular review by the board of trustees and the Board has estsblished a Fundraising Sub-committee which meets on a quarterly basis. We protect personal data and have effective systems in place to ensure we comply with the wishes of our donors and others. We did not receive any complaints about our fundraising activities in 2023. We do not pass supporters, data to third party organisations. Overview We continued to focus on improving education support to Zambian orphans and vulnerable children (OVC) in the Copperbelt, in Lusaka and in Luansobe. The programmes that we have developed to implement this strategy and which were undertaken in 2023 are described as follows.. Education Support Programme - working with 12 Community Schools and 2 Government Schools a) to strengthen and enhance schools, governance b) to support pupils, care principally through the establishment of Peer Health Education (PHE) programmes c) to work alongside local government bodies to ensure all initiatives coincide with governmental priorities and d) to strengthen community and parent / guardian engagement. Peer Health Education Programme working with 27 schools to implement PHE delivered by 48 educators who have recently passed their Grade 12 examinations with a focus on health education, life skills and improving the environment in which they live. The programme is being conducted in Kitwe, Chingola, Lusaka and Luansobe. Sunshlne Clubs Project- these clubs are located across 8 wards in Kitwe and support youth in small business development through financial literacy and entrepreneurship training. GROW Community Savings and Loan Facllity Programme - the GROW {Grassroots Owning your own Wealth) groups, normally 25 to 30 adult members per group, have been established mainly with the parents of pupils from our supported schools. Group members are trained in financial literacy and Page 4
Cecily's Fund Annual Report ?023 administer their own group finances, collectively saving and supporting one another with short - term loans for income generating activities to support their children in education. Gender Based Violence (GBV) Prevention Project - this project, which has been developed in a vulnerable community in Lusaka, helps disadvantaged girls and young women understand their basic rights and builds their knowledge to improve their sexual reproductive health {SRH). The project aims to create confidence, self - esteem and financial independence by encouraging the creation of social businesses following trainings given in financial literacy and business planning methodology. Financial review Income and endowments are received from a variety of sources, namely: 2023 2022 Income and endowrnents from: Donations and legacies Gift aid and covenants 135,845 18,716 122,447 40,885 317,893 225,953 24,558 73,457 64,403 Tax reclaimable Grants from trusts Other donations Total donations and legacies 388,371 Investment income 308 113 Total incoming resources 318,201 388,484 Total expenditure in the yearwas £343,581 {2022-£350,771) resulting in a deficitforthe year of £25,380 {2022 - a surplus of £37,712) prior to any gains or losses from investments. During the year there was a £705 loss on the investment valuation, resulting in a deficit of £26,085 (2022 - surplus of £34,112). Funds at 31 December 2023 totslled £134,090 (£67,512 restricted) compared to £160,175 (£57,016 restricted) at 31 December 2022. Direct transfers (before the charity's costs) to the charity's partner organisations in Zambia totalled £159,891 during the year (2022 - £175,774) as follows: Page 5
Cecily's FLind Annual Report ?023 Direct transfers 2023 2022 BISO primary and secondary education, gender-based violence and peer health education, Lusaka CHEP peer health education, education support, entrepreneurship training and MHM 49,000 55,624 99,276 112,650 Care Providers Foundation primary education Total dlrect transfers 11,615 159,891 7,500 175,774 The charity makes annual grants to Zambian partner organisations and since its formation in 1998 Cecily's Fund has remitted £6.8 million to its partners in Zambia. The Trustees have adopted policies for the management of the variations in the exchange rate, to enable Zambian partner organisations to plan, to ensure that the charity's funds are best used to support children and young people and to ensure the financial stability of Cecily's Fund. In the light of these policies and the reserves accrued, the Trustees have concluded that the charity has sufficient funding to cover any likely short-term variations in foreign exchange. Expenditure on raising funds totalled £80,749 (2022 £78,467). Expenditure on governance totalled £39,120 (2022 - £33,020) and is included within expenditure on charitable activities. Investments and investment olic Bank and cash balances at the end of the year totalled £82.622 {2022 - £130,531). Investment income totalled £308 for the year (2022 - £113). In 2022 the charity reiVed an unrestricted donation of 5,263 shares in JPM Europe Smaller Companies Fund B Accumulation with a valuation at the date of donation of £51,588. The valuation of these shares at December 31, 2022 was £47,988 giving a loss in value for 2022 of £3,600. The shares were sold in August 2023 for £47,283 and the resultant loss in value for 2023, up until the date of sale, £705, is recognised in the statement of financial activities in the year. The trustees, policy is to maintain surplus funds in professionally managed equity or income funds and interest-bearing bank deposit accounts. The trustees do not currently consider it necessary to take into account social, environmental or ethical considerations supplementary to those applied by the funds in which the charity invests. Page 6
Cecily's Fund Annua] Report 2023 Taxation The charity is entitled to those exemptions from UK taxation available in law to charities. Reserves Polic Much of the charity's annual income each year is derived from non-recurring sources and therefore has no fixed or predictable pattern with a consequent risk of funding deficits. This risk is managed and monitored by trustees who look to maintain reserves at a level equivalent to beeen 3 and 6 months, budgeted expenditure which the trustees consider sufficient to accommodate short-term fluctuations in the charity's income and costs without jeopardising agreed budgets for programme expenditure. Structure, governance and management At the end of the year the Board comprised 6 trustees. There was one change to the composition of the Board during the course of the year, namely the resignation of Veronica Oakeshott at the end of September. The trustees delegate day-to-day operations to the staff team, all of whom are part-time, comprising the Director, Finance Manager, Programmes Manager, Senior Fundraiser and Supporter Relations Officer. The functions of communications and bookkeeping are outsourced. The trustees are responsible for recruiting and setting remuneration levels for senior members of staff. The trustees hold, at a minimum, quarterty meetings to consider all aspects of the charity'5 activities. and to monitor progress on the charity's strategic plans. These plans help staff members and Zambian partners to work towards a shared and sustainable vision for the future, agreeing priorities and identifying appropriate activities to achieve them. Trustee performance and re-appointment is considered annually with new trustees inducted by Cecily's Fund staff and the Chair. New trustees are selected for their mix of skills and abilities with a view to ensuring that the governance of the charity is sound and meets its legal and moral obligations. All new trustees are provided with copies of the charity's governing document, the most rent annual accounts and review and copies of the minutes of the trustees, meetings held in the previous twelve months. Further training is gained through peer support and national conferences and seminars. Page 7
Cecily's Fund Annual Report 2023 Governance includin ro ramme mana ement and risk monitorin During 2023, the Director and Programmes Manager made one visit to our Zambian partners in order to conduct monitoring and evaluation of the various programmes being undertaken. The charity continued to implement and to keep under review the following controls: Partner agreements: each partner signs an annual Memorandum of Understanding {MoU) setting out the terms of the partnership Logical frameworks.. each partner agrees to the targets for programme delivery and areas of data tracking The five-year strateglc framework Our ethical fundraising policy Our safeguarding vulnerable children and adults policy The risk register The charity is a member of BOND, and ensures its programmes meet aid effectiveness criteria as set out by that organisation. Principal risks and uncertainties The charity's risk management policy identifies the principal risks in terms of both likelihood and gravity of effect on the charity's activities as.. Loss of confidence in the organisation or accountability of one or more Zambian partners as a result of any serious incident relating to safeguarding, financial management or criminal activity Viability of a Zambian partner which becomes overly dependent on Cecily's Fund Turnover in key staff Misusing or embezzlement of funds by an organisation or its staff members Reduction in income from donors due to a credit squeeze, financial uncertainty or the termination of specific programmes Exchange rate fluctuations undermining Cecily's Fund's budget These risks and uncertainties are mitigated by regular review of the risk register and associated mitigations in addition to a) forging close partnerships with our Zambian partners (including monitoring visits to Zambia when possible) b) conducting annual appraisals of all staff in order to evaluate individual Page 8
Cecily's Fund Annual Report 2023 performance against pre-established objectives and to encourage retention and c) ensuring that all data, in particular the financial and donor data bases, are backed up off site on a daily basis. Plans for future periods In 2024, the charity plans to continue to develop the flagship schools programme and will continue to further the expansion of Peer Health Education activities into Lusaka and Ndola rural areas. The charity also plans to continue the expansion of GROW groups activities across its various programmes. Statement of trustees, responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and the Financial Reporting Standard in the United Kingdom and Republic of Ireland (FRS 102) and the CharitiesAct 2011. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial yearwhich give a true and fairview of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements the trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgements and estimates that are reasonable and prudent. State whether applicable 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 operation. The trustees are spOnSible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Financial Reporting Stsndard in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 9
Cecily's Fund Annual Report 2023 The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Disclosure of information to the external accountants We, the trustees of the charity who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that,. there is no relevant information of which the charity's external accountants are unaware. and we have taken all the steps that we ought to have taken as trustees in order to make ourselves aware of any relevant information and to establish that the charity's external accountants are aware of that information. In approving the Trustees, Annual Report, we also approve the Strategic Report included therein, in our capacity as the charity's trustees. On behalf of the board, Andrew Tacon FCA. Trustee and Treasurer July 9, 2024 Page 10
Cecily's Fund Annual Report 2023 Independent Examiner's Report to the Trustees of The Cecily Eastwood Zambian AIDS Orphans Appeal (Cecily's Fund) I report to the charity trustees on my examination of the accounts of the charity for the year ended st 31 December 2023 which are set out on pages 12 to 24. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act"). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5) (b) of the Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act, or the accounts do not accord with those records the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a.true and fair view" which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached. Ajay Bahl BA BFP FCA ICAEW 30 St Giles, Oxford, OX13 LE Date.. July 9. 2024 Page 11
Cecily's Fund Annual Report 2023 Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2023 Unrestricted Restricted income income funds funds Unrestricted Restricted income income funds funds Total funds Total funds 2023 2023 2023 2022 2022 2022 Notes Income and endowment5 from: Donations and legacies Gift aid and ovenants Tax reclaimable Gr2nts from trusts Other donations Total donations and legacies 122.580 18.716 5.150 40,885 13,265 135,845 18,716 117.297 122.447 40.885 194.573 24.558 5.150 64,402 31,380 225,953 24,558 73.457 64.402 68,307 187,331 130,562 317,893 288,683 99.687 388,370 Investment income Total income and endowments 308 308 113 113 187 639 130 562 318 201 288,796 99,687 388.483 Expenditure on: Raising funds Charitable aclivilies Total expenditure 80.749 142.766 223,515 80,749 120.066 262,832 120.066 343,581 78,467 167,868 246,335 78,467 104.436 272,304 104,436 3SO,771 Net income I (expenditure) before gainsl(losses} on investments 35.876 25,380 42,461 4.749 {Losses)Igains on investment5 (705) (705) (3.600) (3,600) Net income 36.581 26,085 38,861 4.749 Reconciliation of funds: Total funds brought forward 11 103,159 57.016 160,175 64,298 61.765 126,063 Total fund carrlèd For4vard 11 66,578 67,512 134.090 103,159 57.016 160,175 Page 12
Cecily's Fund Annual Report 2023 Balance sheet At 31 December 2023 Unrestricted income funds Restricted income funds Total funds Total Funds 2023 2023 2023 2022 Notes Current assets Investments Deblors and prepayments 47.988 22,719 35.930 19.837 55,767 Cash at bank and in hand 130 531 70.877 67,512 138,389 201,238 Current liabilities Creditors.. amounts falling due within one year 4,299 41,063 Net current assets 66,578 67,512 134,090 160.175 Total assets less current liabilities 66.578 67,512 160 175 Total funds carried forward 11 66.578 67,512 134.090 160,175 Approved by the trustees on July 9, 2024 and signed on their behalf by: Andrew Tacon FCA, Trustee and Treasurer Page 13
Cecily's Fund Annual Report 2023 Statement of cash flows For the year ended 31 December 2023 2023 2022 Notes Cash flow from operatlng actlvltles Net income l (expenditure) for year (26,085) 34,112 Interest receivable Lossl {gains} on investments (308) (113) 705 3.600 (Increase) I decrease in debtors Increase l (decrease) in creditors (33,048) (36.764) (3,156) 4,043 Cash flow from operating activities (95,500) 38,486 Interest received (Acquisition) Disposal of investments 308 113 47,283 (51.588) Net increasol (decrease) in cash and Cash equivalents (47,909) {12,989} Cash and cash equivalents at 1 January 130.531 143,520 Cash and cash equivalents at 31 December 82,622 130.531 Page 14
Cecily's Fund Annual Report 2023 Notes to the financial statements For the year ended 31 December 2023 Note 1: Accounting policies General information and basis of re aration The nature of the charity's operations and principal activities are to enable orphans and vulnerable children to go to and to succeed at school and to prepare them for life beyond school in their respective supportive communities. The charity constitutes a public benefit entity as defined by FRS 102. 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 accordan with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 109). the Charities Act 2011 . and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Income reco nition Donations are genera51y recognised on receipt of cash and allocated to restricted income if the donor has specified the purpose to which the donated funds are to be applied or if the charity has made a proposal to the donor based on a particular programme. activity or category of expenditure. Income is deferred to the extent that it relates to future accounting periods, or if it 15 subject to any unmet condition. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Tax claimable on donations made under gift aid or Govenants is recognised in the same period as the related donation. Page 15
Cecily'5 Fund Annual Report 2023 Investment income is recognised in the period in which it accrues. Donated services are valued and brought in as income and the appropriate expenditure at the price that Cecily's Fund estimates it would pay in the open market for an equivalent service. enditure reco nition All expenditure is recognised on the accruals basis in the period in which the charity incurs an obligation, and categorised between restricted and unrestricted funds as appropriate. Grant funding obligations for student fees and materials under a budget agreed between the charity and a partner for an academic generally the calendar year are recognised in full in the accounting period ending in that academic year. Basis of allocation of costs of ex enditure Direct costs are allocated to the applicable programme or activity. Other material costs are allocated to programmes or activities on the basis of estimated staff time. The proportions of these costs allocated to the relevant programme or activity are as follows: Personnel costs Support costs (note 5) {note 6) Location Programme or activity Primary & secondary education. emergency food packs and peer health education, Lusaka Peer health education, education support, entrepreneurial training and emergency food packs Director Other staff BISO 15° 20¥. CHEP and Care 30/. 22% 30Y. Providcrs Foundatioii - Education Support UK Costs of generating voluntary income GovernanGe 40V. 56L/I. 251. UK 15% 250/0 Fund accountln Funds held by the charity are detailed in note 12 and comprise: UnrestriGted funds, which may be used in accordance with the charitable objects at the discretion of the trustees, and Restricted funds which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Page 16
Cecily's Fund Annual Report 2023 Tan ible fixed assets and de Tangible fixed assets are capitalised if the acquisition cost exceeds £1,000 in which case they are included at cost including any incidental expenses of acquisition. reciation Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight - line basis over their expected useful economic lives as follows: Project and office equipment- over 5 years Computer equipment- over 3 years Debtors Debtors are recognised at the settlement amount after any discounts offered. Creditors Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Forei n currencies Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. BalanS denominated in foreign currencies are translated at the rate of exchange prevailing at the year end. Investments Investments are included at fair value at each period end, gains and losses on revaluations and disposals of investment assets being Tecognised in the Statement of Financial Activities for the appropriate period. Note 2: Investment income Investment income comprises.. Unrestricted Restricted Total Total 2023 2023 2023 2022 Bank and other interest 308 308 113 Page 17
Cecily's Fund Annual Report 2023 Note 3: Charitable activities The allocation of costs of charitable activities during the year to the charity's programmes was as follows: Grant Support Unrestricted Restricted costs Total Total funding 2023 2023 2023 2023 2023 2022 BISO Primary education. feeding programme. peer health education. and gender based violence 49,000 19,571 31.7)2 36,838 68.590 74,546 CHEP Peer health 99,276 35,373 72.322 134,715 149.083 education, education support, entrepreneurship training and GROW groups Care Education 11,615 8.877 9.501 10,906 20,407 15,655 Providers support Foundation (formerly Kaloko Trust Zambia} Govemance Costs 39,120 39,120 39.120 33.020 Total 159.891 102,941 142.766 120.066 262.832 272.304 Page 18
Cecily's Fund Annual Report 2023 Note 4: Expenditure a) Support costs comprise: 2023 2022 Personnel costs 129,117 130,332 Less allocated to-. Charitable activities Governance (43,669) (19,417} (66.031) (45,257} (25.404) (59.671) Costs of generating voluntary income (129.117) {130,332} Office rental and SeN1 charges 3.414 5,347 Office materials and equipment 12,816 15,950 Bank charges= account administration Telephone and Intemet Travel costs not allocated to specific activities Other office costs 3,609 1.302 2,409 1.381 6,295 27.436 6,436 Total 31,523 b) Governance costs, which are included in expenditure on charitable activities and are costs directly involved with constitutional issues and strategic management, plus allocated support costs, comprise.. Unrestricted Restricted Tolal Total 2023 2023 2023 2022 Personnel costs 19,417 2,514 19,417 2.514 25,404 2,338 Audit fees Other professional costs Allocated support costs Total 17.189 17,189 39.120 5.278 33,020 39,120 c) Raising funds.. Unrestricted Restricted Total Total 2023 2023 2023 2022 Personnel cosls 66,031 7,336 66,031 7,336 59,671 4,387 Printing. postage, & publicity material Page 19
Cecily's Fund Annual Report 2023 Allocated support costs T shirts and other costs 4,984 2.398 80.749 4,984 2,398 80,749 12.429 1,980 78,467 Total Note 5: Personnel costs Personnel costs comprise.. 2023 2022 Salaries 100,416 2,749 1,874 105,039 101,717 2.598 2,629 106,944 National Instjrance Pension costs Tolal payroll costs Consultsncy costs Training, travel expenses and recruitment costs Total 24.078 20,307 3,081 130,332 129,117 At the year end the charity employed five (2022 five) part-time employees. The average number of full-time equivalent employees during the period was 2.80 (2022 - 2.92). No employee earned in excess of £60,000 during the year. Remuneration paid to key management personnel during the year totslled £74,923 (2022 £78,292). Note 6: Investments On March 17, 2022 the charity received an unrestricted donation of 5,236 shares in the JPM Europe Smaller Companies Fund B Accumulation with a valuation at that date of £51,588. At December 31, 2022 the shares had a valuation of £47,988 and the 1088 in value from the donation date, £3,600, was included in the 2022 Statement of Financial Activities. The shares were sold on August 10, 2023 for a value of £47,283 incurring a loss in value in 2023 of £705. 2023 2022 Market value at 1st January Acquisitions at cost Net loss in value 47.988 51.588 (3,600) (705) (47,283) Disposal of shares Market value at 31st December 47,988 Page 20
Cecily's Fund Annual Report 2023 Note 7: Debtors and prepayments Debtors and prepayments comprise: Unrestricted Restricted Total Total As al 31 Dember 2023 2023 2023 2022 Prepayments Donations receivabSe 25,155 10.775 19,837 44,992 10.775 3,719 19,000 22.719 Other debtors Total 35.930 19,837 55,767 Donations receivable comprise income re1vable at the year- end in respect of activities performed during the year. Note 8: Cash at bank and in hand Cash at bank and in hand comprises: Unrestricted Restricted Total Total As at 31 Dember 2023 2023 2023 2022 Current aGGounts 34.405 277 47,675 82.080 277 129,680 379 PayPal Petty cash Total 265 265 472 34.947 47,675 82.622 130,531 Note 9: Creditors Creditors comprise: Unrestricted Restricted Total Total As at 31 DecEmber 2023 2023 2023 2022 Professional fees 2,500 407 2,500 407 2,500 1,946 13.905 22,712 PAYE and Nl payable Deferred income other creditors and accruals 2,206 4.299 2,206 4.299 Total 41,063 Page 21
Cecily's Fund Annual Report 2023 Note 10: Lease liabilities The charity has no lease commitments relating to office premises. Note 11: Balance of funds The balance of funds at the year- end arises as follows.. Unrestricted Restricted Total Total 2023 2023 2023 2022 Balan brought fOard Nel movement in funds for the period Balance carried forward 103,159 (36.581) 66,578 57,016 10,496 67,512 160,175 {26,085} 134,090 126.063 34.112 160,175 Restricted fvnds comprise.. As at 31 December 2023 2022 CHEP Education Support and Peer Health BISO Community School Care Providers Foundation Education Support Total 40.634 20.693 6.185 38,829 2,462 15.725 67,512 57,016 None of the unrestricted funds were designated for specific purposes at 31 December 2023 (2022 - £nil). The restricted funds will be spent on programmes which are incorporated into the charity's core activities in 2024 and beyond. Note 12: Funds reconciliation The movements on funds during the years are as follows: Opening balance 2023 Income {Expendilurel Closing balance 2023 Unrestricted 2023 Totsl unreslricled funds 103,159 187,639 (224,220} 66,578 Restricted 2023 CHEP Education Support and Peer Health BISO Community School Care Providers Foundalion Education Support 38,829 2,462 15,725 97,451 19,905 13.206 (95,646) 11,674) (22.746} 40,634 20,693 6,185 Total restrtcted fijnds 57,016 130,562 {120,066) 67,512 Page 22
Cecily's Fund Annual Report 2023 Opening balan 2022 Income (Expenditure) Closing balance 2022 Unrestricted 2022 Total unrestricted funds 47,578 162,037 (145,317) 64,298 Restricted 2022 CHEP Education Support and Peer Health BISO Community School Care Providers Foundation Education Support 60,768 997 46,611 21,696 31,380 (68,550) (20,231) (15,655} 38.829 2,462 15,725 Total restricted funds 61,765 99.687 (104,436) 57.016 Note 13: Analysis of net assets between funds Unreslricled funds 2023 Restricted funds 2023 Total 2023 Current assets Investments Debtors and prepayments Cash at bank and in hand 35,930 34.947 19.837 47.675 55,767 82.622 70.877 67.512 138,389 Current liabilities Creditors: amounts falling due within one year 4,299 4,299 Net current assets 31 December 2023 66.578 67,512 134,090 Total net assets 31 December 2023 134 090 Unrestricted nds 2022 Restricted funds 2022 Current assets Total 2022 Investments Debtors and prepayments Cash at bank and in hand 22,719 59,610 22.719 130,531 70,921 130.317 70,921 201,238 Current liabilities Creditors: amounts falling due within one year 27,158 41.063 Net current assets 31 December 2022 103.159 57,016 160,175 Total net assets 31 December 2022 103 159 160 175 Page 23
Cecily's Fund Annual Report 2023 Note 14: Trustees, remuneration Trustees are not remunerated. There were no reimbursements to trustees for expenditure incurred during 2023 (2022 nil). Note 15: Related party transactions The charity considers trustees and staff detailed on page 1 to be related parties. No reportable related paty transactions have been identified during the period and all of these parties have separately confirmed that they are not aware of any such reportable transactions. The American Friends of Cecily's Fund, a Delaware incorporated entity was constituted during the year ended 30 June 2006 under section 501 (c)(3) of the US Internal Revenue Code to develop fundraising opportunities in the US in furtherance of the objectives it shares with Cecily's Fund. The Swiss Friends of Cecily's Fund, a non-profit making association constituted underArticles 60 79 of the Swiss Civil Code was set up during the year ended 30 June 2006 to enable Swiss citizens to make tax-effective gifts to help Cecily's Fund meet its objectives. Both organisations have boards of governance independent from Cecily's Fund but both work closely with the trustees of Cecily's Fund in the promotion of the charity. For the year to 31 December 2023, American Friends of Cecily's Fund will remit to the charity a total of £2,169 (2022 - £3,719) and Swiss Friends of Cecily's Fund a total of £19,267 {2022 £23,550). As at December 31,2023 the outstanding reMIttanS from American Friends of Cecily's Fund and Swiss Friends of Cecily's Fund total £5,888 and £19,267 respectively (2022 £3,719 and nil respectively). Page 24