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2023-03-31-accounts

Company number: 03511363 Charity Number: 1072105

Transaid Worldwide Services Limited

Report and financial statements

For the year ended 31 March 2023

Transaid Worldwide Services Limited

Contents

For the year ended 31 March 2023 Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor s report ....................................................................................................... 21 Statement of financial activities (incorporating an income and expenditure account) ................... 25 Balance sheet ............................................................................................................................... 26 Statement of cash flows ................................................................................................................ 27 Notes to the financial statements ................................................................................................. 28

Transaid Worldwide Services Limited

Reference and administrative information

For theyear ended 31 March 2023 March 2023
Company number 03511363
Country of incorporation United Kingdom
Charity number 1072105
Country of registration England & Wales
Registered office and 137 Euston Road
operational address London
NW1 2AA
Trustees Trustees, who are also directors under company law, who served during the
year and up to the date of this report were as follows:

William Howie James Keeler Maeve Magner Phidelia Mwaba Ishmael Muchemenyi (Resigned January 2023) John Gurr (Resigned January 2023) Alan Hunt Joan Aitken Chairperson (from May 2022) Olive Kobusingye Gavin Williams Julia Bunting Paul Milner (Appointed April 2023) Philip Kamutenga (Appointed April 2023) Secretary Annie Morrin (Appointed September 2023) Chief Executive Caroline Barber Bankers The Royal Bank of Scotland 36 St Andrews Square Edinburgh EH1 1YB Investment CCLA Managers Senator House 85 Queen Victoria Street London EC4V 4ET

1

Solicitors Reed Smith LLP 125 London Wall London EC2Y 5AL

Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane LONDON EC1Y 0TL

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

The trustees present their report and the audited financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The trustees review the aims, objectives and activities of the charity each year. The organisational strategy was last reviewed in 2020. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to the communities that it supports. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

In 2022/23 the Transaid's mission continued to be to identify, champion, implement and share local transport solutions which improve access to basic services and economic opportunities for people in Lower- and Middle-Income Countries (LMICs).

Transaid s current three-year strategy focusses on four strategic themes;

1. Becoming recognised leaders in road safety (professional driver training) and access to health

2. Growing the scale and impact of our work

3. Engaging and inspiring our donors (both corporate and development sector) to build strong partnerships

4. Becoming an increasingly resilient and sustainable organisation

Transaid has been implementing programmes and raising funds over the last year in line with this strategy.

  1. Recognised leaders in road safety and access to health: Transaid’s primary focus is to continue to design, deliver and advocate for programmes delivering sustainable improvement in road safety and access to health across sub-Saharan Africa where there continues to be tremendous unmet need. Transaid and our partners have continued to deliver impactful programmes during the year. Some of the results of these programmes are presented later in

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

this report. As part of our influencing and advocacy efforts we continue to develop technical briefs, journal articles, host webinars and deliver presentations.

  1. Growth: In line with our strategy, we have been focusing efforts on growing the scale and impact of our work. Despite the challenges that COVID-19, the war in Ukraine and the cost of living crisis has brought, we continue to expand the reach of our road safety programmes and maintain our enviable relationship with corporate partners in the transport and logistics sector. Our access to health care work continued during the year, with an integrated COVID19 response wherever appropriate.

Our approach continues to be one of working with partners, governments, non-governmental organisations, donors and the private sector. We believe this is the best approach to strengthen the sustainable impact of our programmes, to ensure that programmes are locally led and to achieve scale.

Despite these positive developments, it has been a challenge to scale our access to health programmes over the last year and secure new grant funding. However, in spite of the constraints we are proud that we were able to deliver impactful work in our core areas in 2022/23.

  1. Engage and inspire our donors (corporate and development sector) to build strong partnerships – significant progress has been made in how effectively we communicate our impact to a range of audiences. This has led to increased understanding about Transaid’s work, stronger partnerships and more engagement. Transaid has continued investing in our communications, producing regular and relevant social media content and regular e-shots.

Our relationships with our corporate partners are very important to Transaid. Transaid develops meaningful and mutually beneficial partnerships which are also appreciated by our donors and development partners. Transaid currently has 33 corporate partners. Transaid continues to benefit from the provision of technical volunteers and equipment/training vehicles by the organisation’s corporate members.

  1. A resilient and sustainable organisation – Transaid had built up our reserves in previous years and this put us in a strong position as we encountered the challenges of COVID-19, the war in Ukraine and the cost of living crisis. We have invested in a new accounting software in the year to streamline a number of processes and drive efficiency. We also welcomed two highly qualified new trustees, recruiting in line with our skills matrix. During 2022/23 Transaid’s CEO took six months maternity leave. This presented a valuable opportunity for two members of the leadership team to step up and cover this role as acting co-CEOs. This has allowed an important professional development opportunity and has further strengthened Transaid’s leadership.

We recognise that Transaid needs to bring in sufficient funds to keep our overheads proportionate and ensure that we deliver value for money in our programmes. 2022/23 has

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

been another challenging year in terms of securing grant income. Despite this, we have still managed to complete the year on budget and protect our reserves.

Achievements and performance

The organisation's main activities and the communities it aims to support are outlined below. Transaid's charitable activities focus on improving access to health services and road safety. These activities are undertaken to further Transaid's charitable purposes for the public benefit in the areas where we work and predominantly in sub-Saharan Africa.

Road safety: Transaid continues to expand the reach of our Road Safety programmes, with a particular focus on professional driver training programmes. There continues to be considerable need for these activities. The United Nations General Assembly has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2030. Approximately 1.35 million people are killed yearly due to road traffic crashes; another 20 to 50 million are left with non-fatal injuries.

The growth in two- and three-wheelers in sub-Saharan Africa continues unabated and are becoming an increasingly important mode of transport, but along with cyclists and pedestrians, they account for half of all road traffic deaths around the world.

Transaid is in the advantageous position of having tremendous support from the transport and logistics industry in the UK, combined with ever increasing networks in Africa. With our partners we continue to develop improved standards and build the capacity of local training providers to reduce the number of road traffic fatalities and injuries.

During the period April 2022 to March 2023, Transaid has continued its work with partners in Ghana, Kenya, South Africa, Mozambique, Tanzania, Uganda and Zambia. The table below shows the number of drivers and riders trained to an improved standard for this period.

Country Name of
Institution		 Number of people trained by
Vehicle Class		 Total number of people
trained 2022/23
Ghana Puma Energy
Foundation		 D (HGV <35,000kg /PSV 1-65
passengers) - 56
F (HGV/PSV >35,000kg) - 536		 592
Tanzania National Institute
of Transport (NIT)		 PSV - 832, HGV - 71, Fork Lift -
43, Defensive driving – 508, VIP
(government drivers) - 1731,
Grade one (next level up from
VIP) - 216, Senior drivers (next
level up from Grade one) - 161,
Bus Rapid Transit – 60		 3,622

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023
Mozambique GIZ Transport Cargo - 167, Defensive
Driving 1 - 156, Defensive
Driving 2 – 149
(Note - All DD2 drivers are
included in DD1 as they are the
same drivers)		 201
(Note - 473 participants
in total on three
courses, but only 201
Distinct drivers having
each completed 1, 2 or
3 courses)
Uganda Safe Way Right
Way (SWRW) Driver
Training Centre		 HGV (Class C & CE) - 366;
Refresher (C & CE) - 26; PSV
(Class DE) - 3;		 395
Zambia Industrial Training
Centre (ITC)		 HGV (Class C) - 595; HGV (Class
CE) - 307; PSV (Class C) - 54; FLT
- 541; M/cycle - 136; Hazchem -
65; Defensive Driving - 278		 1,976
TOTALS 6,786

Tanzania and Zambia have seen strong growth in the year and Ghana and Mozambique are on track to hit our training targets for their particular programme. Uganda saw a decrease in training numbers during the year, in part due to the government's Ebola virus measures in the Hoima region. The number of drivers trained at the ITC in Zambia increased by 27%, at NIT Tanzania by 11% and in Uganda decreased by 10% in 2022/23 compared to the previous year.

Tanzania – National Institute of Transport (NIT)

The figures from 2022/23 show a steady and continued increase in training numbers, indicating a movement towards people returning to a pre-pandemic situation in terms of attending training. Of particular note is the large number of Passenger Service Vehicle drivers trained. Transaid was able to facilitate the donation of a bus from our corporate partners Go-Ahead to support with this increase in demand.

Uganda – Professional Driver Training Uganda 2 (PDTU2) project (funded by GIZ) - Phase 2 of this project started in April 2021 with a focus on the long-term sustainability of the training centre (which opened in 2018) and a greater emphasis on supporting women into employment as professional drivers. The project ran for 24 months, concluding in April 2023, with reporting continuing until May 2023. The project directly supported ten trainers and five Master Trainers (trainers of trainers) to ensure a high quality of training is maintained and a sustainable approach whereby Ugandan trainers are able to train up new trainers. Master Trainers have also supported Transaid's Ghana Driver Training project, as well as delivering training in Rwanda for OX. Our partners Safe Way Right Way (SWRW) trained over 60 women drivers in the year and continues to promote these women and advocate for their employment in the sector.

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Trustees’ annual report

For the year ended 31 March 2023

Although there has been a slight decrease over the previous period's training figures, demand for HGV training continues to grow. SWRW is positioning itself to take advantage of this with several discussions underway for potential upcoming driver training contracts.

Zambia – Industrial Training Centre (ITC)

As the COVID-19 pandemic has subsided, so too has the negative impact of the pandemic and the easing of restrictions, lockdowns and closures, all of which positively affect training numbers in Zambia. The ITC has seen a 27% increase in the number of individuals trained compared to 2021/22. This increase is across all HGV classes, defensive driving, Hazchem and motorcycles. ITC has recorded more trainees than immediately before the pandemic which saw 1,714 trainees compared to 1,976 this reporting period. This suggests a positive upwards trajectory.

Ghana - Enhancing Professional Driver Training Standards in Ghana (funded by Puma Energy Foundation) – this project was launched in February 2021 and will operate until July 2024. This period has seen a focus on quality training, with investment in training of master trainers and refresher training. Now that the trainers have been trained and the quality assurance is ongoing, drivers are being trained to higher standards. Nearly 600 drivers received training from trainers trained by Transaid in the year. The Ghana HGV driving standards have been finalised and shared with the relevant stakeholders with the intent that by mid-2023, these standards will be signed off by the Ministry of Transport.

– Kenya Kenya National Helmet Wearing Coalition (funded by FIA Foundation)

The project sees Transaid engage with key stakeholders to set up a National Helmet Wearing Coalition to promote collective action to improve motorcycle safety. The Coalition comprises of representatives from 17 different organisations from multiple sectors. Coalition meetings have been taking place every quarter and two pilot projects are now underway. A phase two was agreed during this reporting period and will run until March 2024. There is strong support for the coalition and high levels of engagement. One of the areas of current focus is to reduce poor quality helmets entering the market.

The project aims to train at least ten driving instructors from four to five training schools to train 400 existing HGV drivers. During the period 2022/23 training material was developed, training providers engaged and radio spots aired to promote the refresher training. Thirty-one trainers have now been trained in transporting cargo and defensive driving, with 473 training courses having been delivered to 201 distinct drivers.

Investigating the challenges for women as users and employees in the public transport sector, with Durham University as the lead (funded by Grand Challenge Research Fund). During the period

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Trustees’ annual report

For the year ended 31 March 2023

2022/23 two small follow on projects were implemented. The first saw Transaid "premiere” a short film aimed at improving the safety of passengers using motorcycle taxis at three universities in Nigeria. Screenings with female students were arranged to increase awareness of important safety issues. For the second initiative, a Safe Taxi Charter was piloted at one of Cape Town's largest minibus taxi ranks. Twenty-seven minibus taxis were equipped with the new materials aimed at enabling safer journeys. Twenty-four men working from the same taxi rank participated in Gender Based Violence discussions at the rank, working with partners Sonke Gender Justice. Twenty-five women working in the passenger transport industry were also trained in safe and skilled driving, driver's walk around checks and customer service.

Cape Town and London – Safe Walking Study - This 10-month research initiative aims to better understand the strategies young men implement to keep safe while walking to and from public transport in low-income areas. The initiative will focus on Cape Town and London to allow a comparison of experiences. Funded by Gothenburg-based Volvo Research and Educational Foundations (VREF), Transaid has partnered with Durham University and the University of the Western Cape. Six men from each city, aged 18-35 and from low-income communities, will be recruited and trained on interviewing techniques and recording walking experiences. These men will keep mobility diaries recording their walks between home and the critical transport points in their areas and taking part in interviews. The ground work for this initiative was laid early 2023.

Access to health services:

Transaid has a long-term commitment to improving access to health services for rural communities with a focus on pregnant women and children under-six. World Health Organisation (2020) data show that under-five mortality remains a significant problem across Africa, and the maternal mortality ratio is 525 maternal deaths per 100,000 live births. Limited availability of emergency transport in rural areas continues to be a constraint to accessing healthcare for rural communities and Transaid has considerable expertise in this area. We continue to share our approaches and learning widely.

Transaid completed implementing activities for its significant access to health programme MAMaZ Against Malaria@Scale. MAM@Scale programme saw the scale up of an evidence-based intervention to increase access for hard-to-reach communities to effective treatment for severe malaria in high malaria burden settings. The overall severe malaria case fatality rate reduction in project districts was 87%. However, the initiative continues under the Zambian governments ownership and we have continued to share the learnings and results during the year 2022/23 with key policy makers and major donors and advocate for scale up within Zambia and beyond. A journal article was also prepared and submitted this year with publication due in June 2023.

Uganda - COVID-19 rapid antigen test screening validation and diagnosis study in symptomatic and asymptomatic populations at border crossings in Uganda to support efficient testing practices (funded by FIND)

This project aimed to provide access to fast, quality COVID-19 screening for truck drivers at select border crossings in Uganda. It helped to reduce the spread and impact of COVID-19 and lessen

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Trustees’ annual report

For the year ended 31 March 2023

the economic burden on transport companies by offering Rapid Diagnostics Tests (RDTs) and a polymerase chain reaction (PCR) test at border crossings. Working with SWRW, Transaid trained transport associations in two border posts to carry out sensitisation of truck drivers about the study, basic COVID-19 information and provide key road safety messages.

Between September 2021 to December 2022:

Timor-Leste – Situational Analysis of the Current Transport Operation for The Ministry of Health with A View to Improving Fleet Management and Service Delivery in Timor-Leste

This project, running from July to September 2022, saw Transaid commissioned by the WHO to complete a situational analysis of the health service fleet and national ambulance fleet in TimorLeste. The analysis focused on the key components of transport management and a report and set of recommendations was presented to the Ministry of Health and WHO.

The research found that a small but significant proportion of vehicle operators and communities were involved in TIP. The research also highlighted the inadequacy of training on TIP for vehicle operators; the low priority given to TIP in the activities of transport associations and driver training schools; poor knowledge of TIP within border communities; and low confidence in the capacity of regulatory officials to address TIP. The voices of survivors provided powerful insight into the human costs, including health impacts. The transport sectors in Tanzania and Uganda are an entry point for TIP prevention. They also provide an entry point for TIP prevention activities and for identifying and supporting victims. Potential areas of intervention include training for vehicle operators delivered by transport associations or driver training schools; targeted public education campaigns focused on the transport routes and vehicles favoured by traffickers; and training for border control officials and traffic police. The findings of this research, undertaken in partnership with Cardno Emerging Markets and the North Star Alliance were recently published in the Journal of Transport and Health.

Knowledge Management (KM) and Information Sharing

During the period 2022/23 Transaid continued its knowledge management and information sharing activities. Two new technical briefs were created and published online, one concerning youth engagement and skills acquisition within Africa’s transport sector and another on building resilience in the health supply chain to respond to the COVID-19 pandemic. Transaid continued to

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Trustees’ annual report

For the year ended 31 March 2023

make efforts to virtually engage with its audiences across the African region and beyond by hosting webinars on current and recently concluded programmes. Three new tools were also developed; COVID 19 factsheet, Manual for Trainers: Human Trafficking training manual for vehicle operators and a Safe Taxi Charter. The total downloads for Transaid's tools, technical briefs and other resources was 780.

Transaid has continued to focus on building an engaging and impactful online presence over the last year. Collectively, Transaid's social media channels continue to grow in both engagement and following, with LinkedIn and Twitter on a more significant scale than Facebook, Instagram and YouTube. On LinkedIn the number of followers has increased to 2,665 in April 2023, an increase of 26% since April 2022. In the last year on Twitter, Transaid averaged 26 new followers per month, and had an average of 11,257 impressions per month. Lastly, Transaid's website had 19,971 users during the year 2022/23, an increase of 23% on the previous year.

Our core programmes throughout the period are reflected in the table below:

No. Project Country
1 Professional Driver Training Programme Ghana (funded by Puma
Energy Foundation)		 Ghana
2 Continuation of the Professional Driver Training Project in Tanzania
in partnership with the National Institute of Transport (NIT)		 Tanzania
3 Continuation of the Professional Driver Training Programme (PDTP)
in Zambia working in partnership with the Industrial Training Centre
(ITC)		 Zambia
4 COVID-19 rapid antigen test screening validation and diagnosis
study in symptomatic and asymptomatic populations at border
crossings in Uganda (funded by FIND)		 Uganda
5 Professional Driver Training – Uganda, in partnership with Safe Way
Right Way (funded by GIZ)		 Uganda

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Trustees’ annual report

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6 Professional Driver Training project in Mozambique, in partnership
with Energy Works (funded by GIZ highly trained and motivated
Master Trainers and Trainers who can train the trainers and drivers
of tomorrow; with an integrated gender approach that has been
mainstreamed into the training offered).		 Mozambique
7 Investigating the challenges for women as users and employees in
the public transport sector, with Durham University as the lead
(funded by Grand Challenge Research Fund). Follow on project –
November 2022 - Mar 2023.		 Nigeria & South
Africa
8 Research to investigate the impact on social inclusion of High-
Volume Traffic (HVT) Corridors and potential solutions to identifying
and preventing human trafficking (funded by FCDO)		 Tanzania and
Uganda
9 Kenya – Kenya National Helmet Wearing Coalition (funded by FIA
Foundation)		 Kenya
10 Timor-Leste – Situational Analysis of the Current Transport
Operation for The Ministry of Health (funded by WHO)		 Timor Leste
11 Investigating young mens' experiences of walking to the bus in low
income neighbourhoods of Cape Town and London: A comparative
study built round community peer research methodology (funded by
VREF)		 South Africa
12 Delivery of training to OX Rwanda trainers Rwanda

Fundraising successes in the year:

Transaid has been delighted to see in-person events move from strength to strength, with fullscale events now back across the board. Events of note included the Motor Transport Awards (£27,374 raised) and Multimodal (£16,216 raised) and in particular the inaugural Transaid Scottish Dinner, initiated in memory of Transaid challenge cyclist the late Jayne Gray. £99,093 was raised from this inspiring event and a further Scottish Dinner is planned for 2024.

We were also able to run the Africa and UK cycle challenges in 2022, with 15 people taking on the Hadrian Way (UK), raising £27,030 and 40 people cycle Malawi (Africa) raising £231,528.

Our 2022 Christmas Appeal secured £39,013 for Transaid from corporate and individual festive donations, exceeding the previous year s total of £34,105.

Transaid is grateful for the longstanding support from our corporate partners. The organisation's core corporate and institutional supporters during 2022/23 included BigChange, British International Freight Association (BIFA), Chartered Institute of Logistics and Transport (CILT), Cold

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Trustees’ annual report

For the year ended 31 March 2023

Chain Federation, Confederation of Passenger Transport (CPT), DAF Trucks, Dawsongroup, DHL Supply Chain, Go-Ahead Group, Goodyear Dunlop, GXO, Hankook Tyres, Howard Tenens, Integrated Transport Planning (ITP), Iveco, Jaguar Land Rover, Logistics UK, Lytx, Malcolm Logistics, Man Truck & Bus UK, Menzies Distribution, Michelin Tyre, Microlise, National Express Group, Prolog Fulfilment, Road Haulage Association (RHA), Simpex Express, UK Warehousing Association (UKWA), Wincanton, Xpediator PLC and associates Backhouse Jones Solicitors and Garnett Keeler. During 22/23 we saw the departure of two corporate partners, with one further partner, Clipper Logistics, being bought by another, GXO.

Communities we support

Transaid is an international development organisation which works to identify, champion, implement and share local transport solutions which improve access to basic services and economic opportunities for people in Low- and Middle-Income Countries. Transaid provides support to a variety of people including pregnant women and children seeking access to maternal/newborn health services, governments who want to improve the efficiency of their medicine distribution, and truck drivers who want to provide income for their family while operating their vehicle safely. Transaid also provides support to NGOs, governments and companies who share our mission, support the same communities, and who enable Transaid to have a larger reach and greater impact through working in partnership.

Transaid gathers programmatic data pertaining to the specific technical areas in which our organisation works. This table presents some of the high-level results from 2022/23:

Indicator Result
Number of people trained in driver
training centres which Transaid is
supporting		 6,786
Number of driver trainers trained 51
Number of women working in the
transport industry in South Africa
trained on road safety		 25
Number of drivers (truck drivers and
assistants) sensitised reached with
integrated road safety and COVID-19
prevention messages		 8,140

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023
Number of COVID-19 tests conducted
(truck drivers and assistants)		 2,643 tests
Reduction in children dying from
severe malaria		 Zambia MAM@Scale - The overall severe malaria case
fatality rate reduction in project districts was 87%.
Number of applied research
programmes conducted that will
contribute to global learning on
transport and development and inform
policy makers and implementers		 3- listed below:
FCDO - High Volume Transport Applied Research
Programme (HVT) Part 2: Impact on social inclusion of
HVT Corridors and potential solutions to identifying and
preventing human trafficking (Aug 2020 - Dec 2022)
Follow on project - GCRF: Research with Durham
University into transport skills acquisition for women
(Nov 22 - Mar 23)
VREF - Investigating young mens' experiences of
walking to the bus in low income neighbourhoods of
Cape Town and London: A comparative study built
round community peer research methodology. (Jan -
Dec 22)

Transaid continues to maintain strong relations with its NGO and INGO partners, corporate members, foundations and statutory funders.

Our analysis of the UK fundraising and donor landscapes suggests that the environment is still conducive to continued growth of Transaid s operations and impact.

Financial review

The results for the year are shown in the statement of financial activities.

The main revenue during the year came from donors such as GIZ, GCRF, FIA Foundation, FIND, corporate partner support and funds raised on challenge events. Unrestricted reserves of £ 439,912

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(£374,425, 2022/23) are carried forward to 2023/24. A minimum level of reserves has been calculated to ensure sufficient working capital is in place to fund Transaid s on-going work as well as an allowance for other potential risks such as donor clawbacks and foreign exchange

fluctuations. Reserves held in excess of the minimum level are available to support the on-going development of the organisation and implementation of its strategy. An investment policy has also been developed to ensure that any reserves held are managed responsibly. At present our reserves exceed our minimum as stated in our policy. A balanced budget for the year 2023/24 has been developed to ensure the reserves are protected. The trustees confirm that the charity's assets are available and adequate to fulfil the charity's obligations.

Principal risks and uncertainties

Transaid monitors risks at both leadership and board levels through the utilisation of a risk register. The register divides risks into the following categories:

Individual risks are identified (45 as of June 2022) and are then scored for likelihood and potential impact. Based on these two factors an "unmitigated” risk score is applied. For each risk, a set of mitigating actions is then detailed and implemented. As such, each risk has a subsequent "mitigated” score illustrating the residual risk remaining.

For Transaid the four highest scoring risks have been identified as:

  1. A lack of appropriate skills/high turnover/high stress, limits Transaid' s ability to deliver programmes, influence and create scalable models

  2. Global pandemic or other crisis in SSA prevents Transaid from carrying out programme work

  3. Transaid's operations are adversely affected by cash flow peaks and troughs or weak project pipeline or pandemic such as Covid-19

  4. Transaid operations are affected by viruses/cyber attacks

For each of these risks Transaid has taken the following mitigating steps:

  1. A lack of resource prevents Transaid creating scalable models and influencing the global development community as much as it could – Whilst the funding environment is challenging there has been an increased focus on mobilising resources over the last six months. The prospects list is the longest it has ever been and the pipeline is strong. The

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Trustees’ annual report

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second part of this risk is around ensuring we have the right skills in place and that key members of the Transaid team do not leave resulting in knowledge/relationship gaps. To respond to this, we are supporting the team, especially where the work load is high. We are developing succession plans for key positions. Recruitment of a new Programme Support Manager took place in February 2023 to free up more time for business development. New recruitment will take place in programmes if multiple year projects are won in the next 6-9 months. Recruitment for a Corporate Partnerships Manager is underway to ensure Head of Fundraising has sufficient support. We are ensuring that strategic relationships are not held exclusively as well as working on effective internal communication and information sharing

  1. Global Pandemic or other crisis in SSA – Ensure measures in place to support team and that safety and security plans are up to date. Negotiate with donors for existing programme deliverables. Increase local programmes resource to reduce dependency on international travel and build local capability.

  2. Transaid's operations are adversely affected by cash flow peaks and troughs or weak project pipeline or pandemic such as Covid-19 - Cash flow managed carefully. For major grants, payment in advance sought in agreements where possible. Average 12 month rolling cash flow statement. More proactive and structured approach to business development and resource mobilisation now in place – pipeline reviewed by the leadership team twice and month and by the FMC/Board 8 times a year.

  3. Transaid operations are affected by viruses/cyber attacks - Transaid maintains all files on Microsoft 365 (on the cloud). Kaspersky antivirus software installed on all machines and regularly updated. Firewall on Internet router. New controls regarding password changes, laptop locking and encryption established. Additional insurance procured in April 2020 for increased home working. Early 2022 additional controls applied to reduce hacking risk. Engaged with corporate partner to support. Cyber security audit to be undertaken.

As a general note, Transaid is aware of the risks associated with working with vulnerable beneficiaries and has robust policies in place which are reviewed regularly.

The trustees and leadership team are confident that following the implementation of mitigating activities, none of these risks represents a critical risk to the organisation.

Reserves policy and going concern

Transaid’s reserves policy states that the organisation should hold an amount of unrestricted, undesignated reserves to enable the organisation to meet its liabilities and provide sufficient working capital. This figure was calculated through a process of analysing Transaid’s main financial liabilities versus a series of scenarios including reduced unrestricted income or reductions in grant income and associated overhead recovery amounts. The trustees have

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assessed the risks affecting the income and expenditure of the charity and they have agreed that a minimum level of free reserves equal to six months budgeted costs should be maintained. In the 2022/23 budget this figure was calculated as £360,000. As at 31[st] March 2023 Transaid’s reserves stood at £ 439,912 exceeding the minimum target of £360,000. Transaid has developed a balanced budget for 2023/24 and will review the reserves target once again in 2023.

Based on those appropriate reasons the trustees agreed that the financial statements should be prepared on a going concern basis.

Fundraising

Transaid has an in-house fundraising team. This team raises funds through the operation of a Corporate Membership scheme, through undertaking raffles and auctions at industry lunches, dinners and awards ceremonies, and by organising European and African cycle challenges (the execution of which is outsourced to a leading event organising company). Transaid also receives some support from individuals in the form of payroll giving, direct debits and one-off donations. No professional fundraising organisation undertakes fundraising on Transaid s behalf. In 2022/23 Transaid received zero (2021/2022 zero) complaints about its fundraising practices. Transaid adheres to the standards of the Fundraising Regulator and the Institute of Fundraising.

The leadership team does not believe that the organisation s fundraising practices put vulnerable people at risk, nor that they represent unreasonable intrusion on a person s privacy, unreasonably persistent approaches or undue pressure to give, in the course of or in connection with fundraising for the charity. Transaid has a robust GDPR policy in place and carries out no mail or telephone fundraising. All mass email communications have clear ways to opt out of future communications. The funds that are received from industry employees at events are donated by people who are aware of the organisation and who give voluntarily in a face-to-face manner.

Plans for the future

Over the past five years, the organisation has grown in terms of reach and impact, and also in terms of support from the UK transport sector and recognition from the international development community. Transaid's current three-year strategy (2020-2023) focuses where there is unmet need and where we have core competency – road safety and access to health care. Transaid's budget for 2023/24 reflects the challenging environment in which we are operating. The Finance and Management Committee continue to monitor the situation quarterly so that the organisation can respond rapidly to any unexpected changes in income and expenditure. The general reserves currently being held are enough to cover for any unforeseeable circumstances and allow the organisation to fulfil its future commitments. For this reason, the accounts have been prepared on the basis that Transaid is a going concern.

The organisation’s strategy will be reviewed in 2023.

16

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 16[th] February 1998 and registered as a charity on 24[th] October 1998. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses claimed from the charity are set out in note 7 to the accounts.

Transaid has a Finance and Management Committee. The purpose of the Finance and Management Committee is to provide a mechanism for analysis and oversight of the financial performance of the organisation, allowing space during full Board meetings for more strategic discussions of the organisation's charitable objectives. The Committee meets at least four times each year, in advance of full Board meetings. Extraordinary meetings and/or conference calls are arranged based on necessity. The Finance Committee is composed of between four and six trustees, with appropriate experience; the Transaid Chairperson is an ex officio committee member. Committee meetings are attended by the Chief Executive, Head of Finance, Head of Programmes and Head of Fundraising. The Chair of the Finance & Management Committee is appointed by the full Transaid Board. The Finance and Management Committee's role includes to:

1. Review and recommend the annual budget for approval by the Board of trustees. This to include a review of staffing levels and costs and overheads.

2. Review the management accounts and cash flow forecast every quarter, against budget, with the purpose of ensuring that Transaid is financially sound and that the reserves policy is formulated and properly implemented. Ensure these accounts are received by the Board and provide support in their review at Board meetings.

3. Set policy for programme bids in terms of financial contribution and ensure any exceptions are approved in accordance with that policy.

4. Ensure the financial procedures operated by the organisation are appropriate and sufficient, meet Charity Commission guidelines as well as the requirements of donor organisations.

5. Review audit reports and agree on the resulting management letter. Ensure that the management letter recommendations are implemented.

6. Review financial and procurement related policies and ensure that any amendment to these are approved by the trustees.

7. Ensure that the Risk Register is maintained and reviewed annually.

8. Ensure that the Delegation of Authority is appropriate, maintained and reviewed annually.

9. Maintain and review Board of trustees skills/experience profile.

10. Undertake management reviews and activity as specifically delegated by the Board.

Day to day management of the organisation is delegated to the Chief Executive who in turn is supported by three Heads of Department: the Head of Finance, the Head of Fundraising and the Head of Programmes.

17

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

Appointment of trustees

Trustees are appointed through an interview process led by the Board Chairperson, followed by the unanimous approval of the Board of trustees. Trustees stand for a three-year term before departure or re-election. Trustee selection is guided by a regularly reviewed skills matrix, and balance is sought between representatives of the transport and international development sectors respectively. A balance in terms of gender, ethnic diversity and age is actively encouraged.

Trustee induction and training

Transaid inducts new trustees through a half day programme whereby trustees meet the leadership team, are briefed on the current organisational strategy, and are given time to review the charity governance code.

Trustees are also provided with the following:

Trustees are also informed about upcoming training courses run by Transaid s auditor.

A board effectiveness survey was developed and undertaken by trustees and the leadership team in June 2022. The results of the survey were encouraging, suggesting a highly engaged and effective board. The survey also allowed Transaid to identify some areas for future focus and improvement.

Related parties and relationships with other organisations

Transaid works with a large range of organisations and believes its strength comes from partnerships. Those organisations from the UK transport and logistics sector which support Transaid through our Corporate Membership scheme have already been listed above.

INGO, NGO and other partners include: the Amalgamated Transport and General Workers Union (Uganda), the Abuja Urban Mass Transit Company, Appload, Boda Boda Safety Association of Kenya, Cardno Emerging Markets, Chartered Institute of Transport and Logistics Ghana, DAI Global Health, Disacare (Zambia), Development Data, Industrial Training Centre (Zambia), EnergyWorks (Mozambique), Girls Voices Initiative (Nigeria), National Institute of Transport (Tanzania), National Transport and Safety Authority (Kenya), Ox Rwanda, Safe Way Right Way (Uganda), Ministry of Transport (Tunisia), North Star Alliance, South African National Taxi Council, Sonke Gender Justice (South Africa) Tounissiet (Tunisia), Transtu (Tunisia), University of Durham, University of Western Cape and Uganda National Health Laboratory Services.

Transaid also operates an Ambassador Scheme whereby passionate transport industry supporters produce their own fundraising and activity plans and then with the support of the Transaid team

18

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

represent the organisation at industry events and other activities of their choosing. More than 35 people support the organisation in this way.

Remuneration policy for key management personnel

Transaid's remuneration policy is based on a commitment to attract, retain, develop, motivate and equitably compensate employees of the highest caliber. Transaid seeks to provide employees with a compensation package that is non-discriminatory and is competitive with those provided by comparable organisations (international NGO's of a similar financial and staff size).

This policy applies to all employees regardless of where they are based but does not apply to consultants. Salaries are intended to attract and retain quality staff whilst still offering value for money to our donors and partners. Transaid reviews pay for all employees on an annual basis. Pay is reviewed as part of the annual business planning process with a usual implementation date of 1st April each year.

The main considerations for reviewing pay are:

The level of any pay award is determined by the leadership team as part of the annual budget, as approved by the Board.

Statement of responsibilities of the trustees

The trustees (who are also directors of Transaid Worldwide Services Limited for the purposes of company law) are responsible for preparing the trustees’ annual report, the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

19

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2023

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was 3 (2019: 3). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 4 October 2023 and signed on their behalf by

Joan Aitken Chair

20

Independent auditor’s report

To the members of

Transaid Worldwide Services Limited

Opinion

We have audited the financial statements of Transaid Worldwide Services Limited (the charitable company ) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard

applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going 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 Transaid Worldwide Services Limited'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.

21

Independent auditor’s report

To the members of

Transaid Worldwide Services Limited

Other Information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent 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 materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, 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 the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees annual report. We have nothing to 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:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being

22

Independent auditor’s report

To the members of

Transaid Worldwide Services Limited

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, the trustees are responsible for assessing the charitable company's 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 charitable company or to cease operations, or have no realistic alternative 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 statements as a whole are free from material misstatement, whether due to 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 instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

23

Independent auditor’s report

To the members of

Transaid Worldwide Services Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Orchard (Senior statutory auditor)

Date: 14 December 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

24

Transaid Worldwide Services Limited

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

For theyear ended 31 March 2023
Note
Income from:
2
3
4
4
5
5
5
12
Reconciliation of funds:
Total funds carried forward
Net gains / (losses) on investments
Net movement in funds
Total funds brought forward
Transfers between funds
Net income / (expenditure) before net
gains / (losses) on investments
Transport for health & road safety
Raising funds
Other
Total expenditure
Net income / (expenditure) before
transfers
Charitable activities
Transport for health & road safety
Investments
Other
Total income
Expenditure on:
Other trading activities
Donations and legacies
Charitable activities		 Unrestricted
£
96,769
-
94,303
729,112
322
909		 Restricted
£
-
-
435,268
-
-
-		 2023
Total
£
96,769
-
529,571
729,112
322
909		 Unrestricted
£
139,164
-
59,592
343,023
11
200		 Restricted
£
-
-
703,058
-
-
-		 2022
Total
£
139,164
-
762,650
343,023
11
200
921,415 435,268 1,356,683 541,990 703,058 1,245,048
534,729
-
314,555
-		 -
-
441,713
-		 534,729
-
756,268
-		 337,433
-
254,969
-		 -
-
706,060
-		 337,433
-
961,029
-
849,284 441,713 1,290,997 592,402 706,060 1,298,462
(6,445)
72,131		 6,445
(6,445)		 -
65,686		 (3,003)
(50,412)		 3,003
(3,002)		 -
(53,414)
65,686
(199)		 -
-		 65,686
(199)		 (53,415)
12,995		 1
-		 (53,414)
12,995
65,487 - 65,487 (40,420) 1 (40,419)
374,424 1 374,425 414,844 - 414,844
439,911 1 439,912 374,424 1 374,425

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 18a to the financial statements.

25

Transaid Worldwide Services Limited

Balance sheet

Balance sheet Balance sheet
As at 31 March 2023 Company no. 03511363
Note
£
Fixed assets:
11
12
Current assets:
13
289,983
229,144
519,127
Liabilities:
14
(229,318)
18
439,912
Total unrestricted funds
Debtors
Restricted income funds
Unrestricted income funds:
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Investments
Cash at bank and in hand
Tangible assets
General funds
Total charity funds		 2023
£
946
149,157		 £
452,644
135,475		 2022
£
1,420
124,356
150,103
289,809		 125,776
248,649
519,127
(229,318)		 588,119
(339,470)
439,912 374,425
439,912 374,425
439,912 374,425
439,912 374,425

Approved by the trustees on 4 October 2023 and signed on their behalf by

Joan Aitken Chair

26

Transaid Worldwide Services Limited

Statement of cash flows

For the year ended 31 March 2023

For the year ended 31 March 2023 For the year ended 31 March 2023 For the year ended 31 March 2023
Note
£
£
Cash flows from operating activities
Net income / (expenditure) for the reporting period
65,686
(as per the statement of financial activities)
Depreciation charges
474
Dividends, interest and rent from investments
(322)
(Increase)/decrease in debtors
162,661
Increase/(decrease) in creditors
(110,152)
Net cash provided by / (used in) operating activities
118,347
322
(25,000)
(24,678)
93,669
135,475
229,144
At 1 April
2022
Cash flows
£
£
Cash at bank and in hand
135,475
93,669
Total cash and cash equivalents
135,475
93,669
Analysis of cash and cash equivalents
2023
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash provided by / (used in) investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets		 £
£
(53,414)
474
(11)
(151,413)
150,135
(54,229)
11
-
11
(54,218)
189,693
135,475
Other
changes
At 31 March
2023
£
£
-
229,144
-
229,144
2022
118,347
(24,678)		 (54,229)
11
At 1 April
2022
£
135,475		 Other
changes
£
-
93,669
135,475		 (54,218)
189,693
229,144 135,475
Cash flows
£
93,669		 At 31 March
2023
£
229,144
135,475 93,669 - 229,144

27

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

Transaid Worldwide Services Limited is a charitable company limited by guarantee and is incorporated in United Kingdom. The registered office address and principal place of business is 137 Euston Road, London, NW1 2AA.

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 accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (March 2018) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The charity meets the definition of a public benefit entity under FRS 102.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

i) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

28

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

Staff costs are allocated in proportion to the staff costs attributable to each activity.

Office costs are allocated in proportion to the number of FTE staff attributable to each activity.

Auditors' remuneration is allocated in proportion to the amount of direct costs of each activity.

Support costs are the costs of the overall direction and administration of each activity, comprising the salary and overhead costs of the central function.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

5 years 5 years

Investments carried at a valuation are at the market's bid price at the balance sheet date. Purchases and sales include transaction fees charged by the investment managers to cover portfolio review/advice services, and their fees for all other services are therefore charged against investment revenues.

n) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

p) Creditors and provisions

Creditors and provisions are recognised where 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

q) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

The pension scheme in operation is a defined contribution scheme. Contributions are charged to the Statement of Financial Activities in the period in which the salaries to which they relate are payable.

29

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

the year ended 31 March 2023
Income from donations and legacies
Gifts from individuals
Donated services
Donations		 Unrestricted
£
53,234
7,194
36,341		 Restricted
£
-
-
-		 2023
Total
£
53,234
7,194
36,341		 Unrestricted
£
50,930
28,024
60,210		 Restricted
£
-
-
-		 2022
Total
£
50,930
28,024
60,210
96,769 - 96,769 139,164 - 139,164

Donated services comprise exhibition space at logistics industry events and advertising in logistics industry trade magazines.

3 Income from charitable activities

Income from charitable activities
GCC MAM@Scale, Zambia
WHO - Timor Leste
Volvo Research Education Fund
HVT DFID (Cardno)
GIZ Uganda
Puma Energy Foundation, Ghana
Grand Challenges Research
FIAF Foundation/Kenya
Total income from charitable activities
Other income
GIZ Mozambique
FIND Uganda
Gifts in Kind		 Unrestricted
£
-
-
5,875
-
-
-
-
-
-
-
39,884
48,544		 Restricted
£
15,655
206
-
84,459
56,162
39,087
54,631
1,637
100,118
83,313
-
-		 2023
Total
£
15,655
206
5,875
84,459
56,162
39,087
54,631
1,637
100,118
83,313
39,884
48,544		 Unrestricted
£
-
-
9,819
-
-
-
-
-
-
-
22,588
27,185		 Restricted
£
-
-
-
65,709
114,316
143,155
40,288
33,528
34,914
223,311
47,837
-		 2022
Total
£
-
-
9,819
65,709
114,316
143,155
40,288
33,528
34,914
223,311
70,425
27,185
94,303 435,268 529,571 59,592 703,058 762,650
Income from other trading activities
Challenge events
Corporate membership
Award evenings & other events
Gifts in kind (raffle prizes)		 Unrestricted
£
258,726
208,500
220,870
41,016		 Restricted
£
-
-
-
-		 2023
Total
£
258,726
208,500
220,870
41,016		 Unrestricted
£
49,774
202,000
80,941
10,308		 Restricted
£
-
-
-
-		 2022
Total
£
49,774
202,000
80,941
10,308
729,112 - 729,112 343,023 - 343,023

30

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

Analysis of expenditure (current year)
Staff costs (Note 7)
Social Security costs
Pension
Compensated absences
Fundraising expenses
Project expenses
Auditors remuneration
Rent - land and buildings
Insurance
Office costs
Support costs
Governance costs
Total expenditure 2023
Total expenditure 2022		 Raising
funds
£
136,442
14,640
13,025
677
262,969
-
-
-
-
-		 Project
expenditure
£
196,919
22,071
19,692
(11)
-
349,989
-
-
7,908
-		 Governance
costs
£
15,253
143
1,525
(54)
-
-
8,250
-
-
-		 Support
costs
£
116,340
1,053
11,634
3,497
-
-
-
54,783
11,827
42,425		 2023
Total
£
464,954
37,907
45,876
4,109
262,969
349,989
8,250
54,783
19,735
42,425		 2022 Total
£
411,396
39,690
40,148
-
106,629
596,446
7,200
55,371
16,540
25,042
427,753
96,546
10,430		 596,568
145,013
14,687		 25,117
-
(25,117)		 241,559
(241,559)
-		 1,290,997
-
-		 1,298,462
-
-
534,729 756,268 - - 1,290,997 1,298,462
337,433 961,029 - -

31

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

5b Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Staff costs (Note 7)
Social Security costs
Pension
Compensated absences
Fundraising expenses
Project expenses
Auditors remuneration
Rent - land and buildings
Insurance
Office costs
Support costs
Governance costs
Total expenditure 2022		 Cost of
raising funds
£
111,614
11,166
10,490
-
106,629
-
-
-
-
-		 Project
expenditure
£
163,518
17,278
16,447
-
-
596,446
-
-
6,906
-		 Governance
costs
£
16,960
1,466
1,701
-
-
-
7,200
-
-
-		 Support
costs
£
119,304
9,780
11,510
-
-
-
-
55,371
9,634
25,042		 2022
Total
£
411,396
39,690
40,148
-
106,629
596,446
7,200
55,371
16,540
25,042
239,899
87,256
10,278		 800,595
143,385
17,049		 27,327
-
(27,327)		 230,641
(230,641)
-		 1,298,462
-
-
337,433 961,029 - - 1,298,462

32

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2023 2022
£ £
Depreciation 474 474
Operating lease rentals payable:
Property 50,673 51,719
Auditor's remuneration (excluding VAT):
Audit 8,250 7,200
Other services - -

Staff costs were as follows:

Staff costs were as follows:
Employer’s contribution to defined contribution pension schemes
Social security costs
Salaries and wages		 2023
£
469,063
37,907
45,876		 2022
£
413,841
39,690
40,148
552,846 493,679

There were no employees who earned more than £60,000 during the year (2022: 0).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £250,666 (2022: £250,117). The key management personnel comprises of The Chief Executive, Head of Programmes, Head of Fundraising and Head of Finance.

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2022: £nil). Two Trustees were reimbursed a total of £3,334 travelling and subsistence costs relating to attendance at meetings of the trustees during the year (2022:£Nil).

For details of charity trustees who received payment for professional or other services supplied to the charity see Note 9 Related Party transactions.

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Raising funds
Charitable activities
Support
Governance
Full-time equivalents:		 2023
No.
3.9
6.3
2.5
0.5		 2022
No.
3.5
6.6
2.5
0.5
13.2 13.1
13.2 12.5

33

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

9 Related party transactions

In the year donated services amounting to £24,964 were received from GXO Logistics, a company of which a trustee of the charity, is a director (2022: £35,214). These services include staff time on secondment to projects in Uganda, flights and accommodation and raffle prizes.

Prior year related party transactions:

Donated services amounting to £35,214 were received from GXO Logistics, a company of which a trustee of the charity, is a director (2021: £Nil). These services include staff time on secondment to projects in Uganda, flights and accommodation and raffle prizes.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties other than noted above.

Transaid Worldwide Trading Limited (Registered number 3550376), which is dormant and has not traded since incorporation, is a wholly owned subsidiary company of the charity.

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
At the end of the year
Net book value
At the end of the year
At the start of the year
At the end of the year
Cost
At the start of the year
Charge for the year
At the start of the year
Additions in year
Disposals in year
Depreciation
Eliminated on disposal		 Fixtures and
fittings
£
17,560
-
-
Computer
equipment
£
3,768
-
-
Total
£
21,328
-
-
17,560 3,768 21,328
17,560
-
-		 2,348
474
-		 19,908
474
-
17,560 2,822 20,382
- 946 946
- 1,420 1,420

All of the above assets are used for charitable purposes.

Investments
Market Value:
Market value at 1 April 2022
Additions in year
Net gains/losses on revaluation at 31 March 2022
Market value at 31 March 2023		 2023
£
124,356
25,000
(199)		 2022
£
111,361
-
12,995
149,157 124,356

34

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

e year ended 31 March 2023
Debtors
Trade debtors
Prepayments
Accrued income
Creditors: amounts falling due within one year
Taxation and social security
Trade creditors
Other creditors
Accruals
Deferred income (note 15)		 2023
£
97,501
69,972
122,510		 2022
£
387,222
37,280
28,142
289,983 452,644
2023
£
77,218
34,266
1,729
20,652
95,453		 2022
£
139,330
43,196
1,187
5,872
149,885
229,318 339,470

15 Deferred income

Deferred income comprises funds received in advance for expenditure in a future period. Transaid showcase event £28,500 in November 2023. PUMA for the Ghana PDT project £55,857(2022: £25,684). Income of £9,096 received in advance for London to Paris Cycle Challenge taking place in September 2023 and £2,000 for Transaid football cup July 2023.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 Showcase/
Kenya
Helmet/
GCRF/Scot
tish Dinner
£
48,430
(48,430)
28,500

PUMA
Ghana/GIZ
Uganda
£
49,608
(49,608)
55,857

HADRIAN/
WOTR/Lond
on to Paris
Cycle
Challenge
£
139
(139)
9,096


Malawi Cycle
Challenges &
Transaid
Football cup
£
51,708
(51,708)
2,000


2023
£
149,885
(149,885)
95,453		 2022
£
105,999
(47,141)
91,027
28,500 55,857 9,096 2,000 95,453 149,885

16 Pension scheme

The pension scheme in operation is a defined contribution scheme managed by Aegon. Basic contributions are 6% for the employee and 10% for the employer. The employer's contributions are charged in the Statement of Financial Activities in the period in which the salaries to which they relate are payable. The employer's contributions in the year amounted to £45,876 (2022: £40,148). At 31 March 2022 there were £5,155 accrued pension contributions (2022: £5,270) and there were 12 employees enrolled in the scheme (2022: 11).

35

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

For the year ended 31 March 2023
17a
17b
18a
Restricted funds:
Total restricted funds
General funds
Net assets at 31 March 2022
Unrestricted funds:
Net assets at 31 March 2023
Analysis of net assets between funds (prior year)
Fixed assets - Investments
Analysis of net assets between funds (current year)
Net current assets
Movements in funds (current year)
Mozambique GIZ
Volvo Research Education Fund
Ghana Puma Energy Foundation
WHO Timor Leste
Total funds
Total unrestricted funds
Fixed Assets Investments
Net current assets
Uganda FIND
Grand Challenges Research Fund
Uganda GIZ
Zambia GCC MAM@Scale TTS 3
Kenya National Helmet -FIA		 At 1 April
2022
£
-
-
-
-
-
-
-
-
-		 General
unrestricted
£
150,103
289,809
Designated
£
-
-		 Restricted
£
-
-		 Total funds
£
150,103
289,809
439,912 - - 439,912
General
unrestricted
£
125,776
248,649
Designated
£
-
-		 Restricted
£
-
-		 Total funds
£
125,776
248,649
374,425 - - 374,425

Income &
gains
£
15,655
206
39,087
56,162
84,459
100,118
1,637
83,313
54,631
Expenditure
& losses
£
(19,975)
(1,730)
(39,087)
(56,162)
(84,459)
(100,521)
(1,835)
(83,313)
(54,631)
Transfers
£
4,320
1,524
-
-
-
403
198
-
-		 At 31 March 2023
£
-
-
-
-
-
-
-
-
-
- 435,268 (441,713) 6,445 -
374,427 921,415 (849,284) (6,445) 440,113
374,427 921,415 (849,284) (6,445) 440,113
374,427 1,356,683 (1,290,997) - 440,113

The narrative to explain the purpose of each fund is given at the foot of the note below.

36

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2023

18b Movements in funds (prior year)

e year ended 31 March 2023
Movements in funds (prior year)
At 1 April Income & Expenditure
2022 gains & losses Transfers At 31 March 2022
£ £ £ £ £
Restricted funds:
Madagascar USAID/JSI CCHP - - (3,003) 3,003 -
Grand Challenges Research Fund - 143,155 (143,155) - -
Ghana Puma Energy Foundation - 118,388 (118,388) - -
Mozambique GIZ - 36,836 (36,836) - -
Uganda GIZ - 107,513 (107,513) - -
Zambia GCC MAM@Scale TTS 3 33,528 (33,528) - -
Uganda FIND - 223,311 (223,311) - -
Kenya National Helmet - FIA - 40,326 (40,326) - -
Total restricted funds - 703,057 (706,060) 3,003 -
Unrestricted funds:
General funds 414,844 554,987 (592,401) (3,003) 374,427
Total unrestricted funds 414,844 554,987 (592,401) (3,003) 374,427
Total funds 414,844 1,258,044 (1,298,461) - 374,427

Purposes of restricted funds

Volvo Research Education Fund (VREF), Investigating young men's' experiences of walking to the ‘bus’ in low income neighbourhoods of Cape Town and London: a comparative study built round a community peer research methodology.

WHO Timor Leste, to conduct situational analysis of the transport operation with a view to improving fleet management and service delivery in Timor Leste

GCRF, a research programme looking at women as users of public transport and employees within the sector in South Africa, Nigeria and Tunisia

PUMA Energy Foundation, building capacity of Heavy Goods Vehicles (HGV) and Passenger Services Vehicle (PSV) driver training in Ghana.

Mozambique, GIZ, focuses on improving refresher driver training capacity targeting small and medium sized transport operators building the capacity of HGV and PSV driver training.

Uganda, GIZ, building the capacity of HGV and PSV driver training. Focus on the long term sustainability of the training centre (opened in 2018) and a greater emphasis on supporting women into employment as professional drivers

Uganda FIND, COVID-19 rapid antigen test screening validation and diagnosis study in symptomatic and asymptomatic populations at border crossings in Uganda to support efficient testing practices

MAM@Scale TTS 3, working to scale up this evidence-based intervention that aims to increase access for hard-to-reach communities to effective treatment for severe malaria in high malaria burden settings addressing lack of access to quality severe malaria treatment in Serenje district.

Kenya, FIA National Helmet Coalition, engagement with key stakeholders to set up a National Helmet Wearing Coalition to promote collective action to improve motorcycle safety

19 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year
One to five years
Over five years		 2023
£
53,297
106,594
-		 2022
£
53,297
-
-
Property
159,891 53,297

20 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

37