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 EaS￿oOd 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
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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 EaS￿oOd 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.
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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
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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 re￿iVed 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.
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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 be￿een 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 re￿nt 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.
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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
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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
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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.
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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.
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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. Balan￿S 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
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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
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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
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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 De￿mber
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 re￿1vable 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 De￿mber
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 fO￿ard
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 reMIttan￿S 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