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← Transaid Worldwide Services Limited

2025-03-31-accounts

Company number: 03511363 Charity Number: 1072105

Transaid Worldwide Services Limited

Report and financial statements For the year ended 31 March 2025

Transaid Worldwide Services Limited

Contents

For the year ended 31 March 2025

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor's report ....................................................................................................... 23 Statement of financial activities (incorporating an income and expenditure account) ................... 27 Balance sheet ............................................................................................................................... 28 Statement of cash flows ................................................................................................................ 29 Notes to the financial statements ................................................................................................. 30

Transaid Worldwide Services Limited

Reference and administrative information

For the year ended 31 March 2025 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 Phidelia Mwaba Alan Hunt Joan Aitken Chairperson Olive Kobusingye Gavin Williams Julia Bunting Paul Milner Phillip Kamutenga Astrid van der Burgt Philip Roe Sharnjit Samra Secretary Christine Mellor (Appointed July 2024) 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

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Transaid Worldwide Services Limited

Reference and administrative information

For the year ended 31 March 2025

Solicitors Reed Smith LLP 125 London Wall London EC2Y 5AL Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane LONDON EC1Y 0TG

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

The trustees present their report and the audited financial statements for the year ended 31 March 2025.

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. 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 organisational strategy was reviewed in 2023 and a refreshed strategy for 2024-2026 was approved by the trustees in January 2024.

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.

Transaid is an international development organisation that transforms lives through safe, available, and sustainable transport. We work with communities, partners, and governments to address transport challenges primarily across sub-Saharan Africa.

Our strategy is centred around four main focus areas that are key to driving our mission and delivering lasting impact. These priorities guide our work and help us achieve our goals in the most effective and sustainable way. Transaid has been implementing programmes and raising funds over the last year in line with this strategy.

  1. 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. Headline results of these programmes are presented later in this report. As part of our influencing and advocacy efforts we continue to develop technical briefs, journal articles, host webinars, contribute to research and speak at key conferences.

  2. Impact and Scale: In line with our strategy 2024–2026, we aimed to increase our impact and scale over the last year.

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Despite the challenging environment, we continue to implement road safety programmes and maintain our enviable relationship with corporate partners in the transport and logistics sector. We have had some growth in our access to healthcare activities in 2024/2025 (compared with the previous year), with new health supply chain strengthening activities in Ethiopia. We also took the decision to use some of Transaid’s reserves to catalyse our health programmes and particularly to support communities in Central Province, Zambia as part of the Mobilising Access to Maternal Health Services Zambia (MAMaZ) and MAMaZ Against Malaria (MAM) programmes in Zambia. 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 impact of our programmes, to ensure that programmes are locally led, sustainable and to achieve scale. We have also continued to advocate for other partners to adopt our approaches and models, as a route to scale and to differentiate our offering by harnessing specialist expertise through our corporate partners.

  1. Engage and inspire our supporters (corporate and development sector) to build strong partnerships for long-term strategic partnerships that maximise impact and generate more funding. We have continued investing in our communications, producing regular and relevant social media content and regular e-shots. We have seen increased engagement with our social media platforms, our website and our knowledge centre. This has led to increased understanding about Transaid’s work, stronger partnerships and more engagement. We were delighted to launch a new website in March 2025 that is more user friendly, visually appealing and explains Transaid’s work and mission effectively. Alongside the new website, we also refreshed Transaid’s brand and narrative. We have maximised opportunities at events to increase fundraising efforts and long-term support. In addition, we have been developing new engagement programmes and new events.

Transaid continued to benefit from the support of our Patron, HRH The Princess Royal and were grateful for her attendance at our Showcase in November 2024 and her visits to the Multimodal Exhibition in June 2024, and in February 2025 to Arbuthnot Latham & Co. Ltd parent company of Transaid’s corporate partner Asset Alliance Group. 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 32 corporate partners. As set out later, Transaid continues to benefit from the provision of technical volunteers and equipment/training vehicles from our corporate members.

  1. A resilient and sustainable organisation with sufficient funds to sustain its work with an increasing local presence and strength in sub-Saharan Africa. 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. 2024/25 has 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. This year has seen promotions in the team, recruitment and investment in training, staff wellbeing and development as well as some modest investment

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

in our office in London. We have also invested in a new website, Payroll and HR system, VAT review and our cyber security processes.

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 road safety and access to health services. 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.

Transaid is committed to improving road safety in sub-Saharan Africa through expanding Transaid’s professional driver training programmes as well as its helmet safety initiatives. Equally, Transaid remains committed to improving access to healthcare, implementing emergency transport solutions and strengthening resilience in health supply chains. In both areas, Transaid continues to develop and disseminate new resources via its knowledge centre.

Road safety:

The World Health Organization’s Global Road Safety Status Report (2023), states that approximately 1.19 million people die each year in road traffic crashes, making these incidents the leading cause of death for children and young adults aged 5–29 years. Additionally, between 20 and 50 million people suffer non-fatal injuries annually, often resulting in long-term disabilities. Nearly one-fifth of global road traffic deaths occur in Africa, despite having just 3% of registered vehicles and equating to approximately 650 fatalities daily. Pedestrians, cyclists, and motorcyclists represent almost 50% of these fatalities (Africa Transport Policy Program (SSATP), 2025).

Demonstrating its ongoing dedication to road safety, Transaid has continued rolling out initiatives across Ghana, Kenya, South Africa, Tanzania, Uganda, and Zambia. These efforts focus on key challenges such as expanding access to driver training, promoting motorcycle helmet safety, and improving transport accessibility for women. As we noted last year the growth in two and three wheelers in sub-Saharan Africa continues exponentially and brings risks to riders and passengers. Rider training and helmet wearing are vital to reducing risk. As can be seen in the table below and in the tables later in this report we continue to use our expertise and knowledge in road safety not least through the model of training trainers and cascading opportunities in that way.

Between April 2024 and March 2025, Transaid has continued to work with local partners as well as corporate supporters to deliver impactful road safety programmes. During this time, Transaid has delivered training to 44 trainers in Ghana (29), Tanzania (6), and Zambia (9), and Transaid’s partners trained more than 9,000 drivers (see table below).

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Country Name of Training
Institution		 Number of people trained by
Vehicle Class/Category		 Total number of
people trained
2024/25
Ghana Various D - 59, F – 474
(D - HGV not exceeding
35000kg, F - HGV above
35000kg)		 533
Tanzania National Institute
of Transport (NIT)		 PSV - 2137, HGV - 248, VIP -
1351, Fork Lift - 33, Defensive
driving - 307, Grade one - 334,
Senior drivers–42		 4,481
Uganda Safe Way Right
Way (SWRW)
Driver Training
Centre		 HGV (Class C & CE) - 283;
Refresher (C & CE) - 134; PSV
(Class DE) - 13		 430
Zambia Industrial Training
Centre (ITC)		 HGV (Class C) - 1527; HGV (Class
CE) - 586; PSV (Class C) - 15; FLT
- 945; Motorcycle - 85; Hazchem
- 55; Defensive Driving-439		 3,652
TOTALS 9,096

Ghana - Driving Safety Across Ghana (DSAG) (funded by Puma Energy Foundation) Following the success of the previous driver training project in Ghana (the major achievement in this period being the official launch of the new HGV driver training standard by the DVLA), this project launched in August 2024 and will run until January 2027. It builds on the success of the previous Ghana project and aims to support the rollout of the HGV driver training standard nationwide.

To date, the following activities have been delivered:

1 The in-person sensitisation consists of spoken sessions with drivers and covers topics such as fitness to drive (fatigue, alcohol & drugs and stress), pre-drive inspection and managing breakdowns including triangles & vests. Content is carefully aligned with the new Ghana heavy goods vehicle (HGV) driver training standard. All participants are given digital factsheets to serve as an aide memoire.

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Zambia – Industrial Training Centre (ITC)

The ITC continues to see growth in its training figures this reporting period, with a 33% increase. This continues the trend of the previous periods, with a 39% increase in the previous period and a 27% increase in the period before. This continued growth highlights the ITC's important position as a training centre in Zambia and its positive reputation for quality training.

A professional volunteer from The Malcolm Group conducted HGV training of trainers for six trainers and a professional volunteer from Miniclipper Logistics conducted HGV ToT training for three trainers.

This year ITC received two donated tractor units from The Malcolm Group and a rigid truck from Asset Alliance Group. All three came with Microlise telematics units and Brigade Electronics cameras installed to continue supporting driver training at ITC and understanding of modern vehicle technologies.

Tanzania – National Institute of Transport (NIT)

NIT saw a decrease of 29% compared with last year's training numbers. However, 4481 drivers were still trained in the period. It is worth noting that for the previous period of 2023/24 the training total had increased by 75% on the 2022/23 reporting period. Although this year the figure is down, it is in the context of last year's substantial spike for such reasons as the enhanced enforcement measures through inspections by the Police Force and the implementation of tailormade training programmes organised for clients (transporters).

– Uganda Safe Way Right Way (SWRW)

Transaid continues to support SWRW and SWRW continues to be a valued member of the Road Safety Steering Group[3] and partner for road safety and driver training in the region.

The SWRW driver training centre trained 430 drivers in this reporting period, an increase of 15% from last year's figures with the majority being for new licence acquisition. This increase happened despite an increase in the cost of training as the training centre adapts to life without external donor core funding. This shows that our model of cascading training can lead to sustainable local solutions.

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

Phase 3 (June 2024 – November 2025) of this project continues to strengthen collaboration amongst key stakeholders to address motorcycle safety, and now focuses efforts on supporting the establishment of a helmet testing lab in Kenya and initiating regional dialogue around helmet safety. During this period, as part of Coalition activities;

3 Transaid chairs a quarterly Road Safety Steering Group that brings together partners from Zambia, Uganda and Tanzania to share knowledge and new approaches. Transaid was able to bring this group together, in person, in June 2024.

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Transaid’s motorcycle safety work continues to reach wider audiences, building on the "A Fare Price…. 4 ” report launched in the last period, with a presentation at the 4th Global Ministerial Conference on Road Safety in Morocco focused on this project.

– ’ Kenya Madereva Salama Zaidi (funded by Lloyd s Register Foundation)

This project, launched in September 2024 and running until April 2025, involves a partnership with North Star Alliance to develop and distribute road safety and health messaging to truck drivers in and around Jomvu and Kipevu Roadside Wellness Centres (RWCs), located close to Mombasa port. These RWCs were selected to reach drivers at the start of their journey along the Northern Corridor, travelling to East and Central Africa.

Two factsheets, focusing on cargo security and HIV/AIDS awareness, were designed with support from the Kenya Transporter’s Association (KTA). 1735 factsheets and stickers were distributed in this reporting period.

With additional funding, from Morel and the Gibbs Trust, this initiative was able to provide eye tests for 700 drivers, providing 361 corrective glasses to drivers. Furthermore, those with eye conditions have been referred for appropriate medical treatment.

South Africa – Safer public transport for women (funded by the Canada Fund for Local Initiatives (CFLI))

In November 2024, Transaid partnered with SANTACO (South African National Taxi Council) to improve safe access to public transportation for women in the Western Cape. Minibus taxis are the primary mode of public transport for most people and are a vital component in accessing education and employment. However, women have reported concerns about their personal safety and security, and so this project aims to improve the awareness of sexual and gender-based violence, including strengthening reporting.

Eight associations representing over 1000 minibus taxis have now committed to adopting the Safe Taxi Charter, which was developed by SANTACO’s Women’s Desk. Each participating vehicle receives a printed copy of the charter and two stickers featuring QR codes allowing commuters to access the charter online as well as other resources linked to gender-based violence.

Drivers and sliding door operators will receive gender-based violence recognition training with the goal of reaching more than 100 drivers and identifying ‘champions’ to support passengers

4 The report sets out the context of motorcycle taxis in Kenya, key findings from analysis of hospital records, national data analysis, observational studies and interviews and recommendations to tackle motorcycle taxi injuries and deaths.

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

reporting issues. Focus groups with commuters will examine the uptake of the charter, and an end-of-project dissemination event will seek to promote scaling up this initiative.

Access to Health:

In its ongoing efforts to strengthen access to healthcare, Transaid implements projects focusing on the needs of pregnant women, children under six with suspected severe malaria, supply chain resilience and emergency transport systems.

According to recent World Health Organization data, sub-Saharan Africa accounted for approximately 70% of global maternal deaths in 2023 (182,000 out of 260,000) worldwide. The region also suffers the highest under-five mortality rate globally, with 68 deaths per 1,000 live births, meaning a child born in sub-Saharan Africa is over 16 times more likely to die before age five than one born in the UK. Of the approximate 597,000 malaria deaths in 2023, 95% were in the WHO African Region. These statistics, alongside the Sustainable Development Goals’ global targets, underscore the critical importance of Transaid’s work and the urgent need to further reinforce health systems across the region.

- Ethiopia Support and technical services to the Ethiopian Pharmaceuticals Supply Service (EPSS) (funded by the American International Health Alliance (AIHA) through the Gates

Foundation)

This 12-month project started in September 2024 and is due to finish in August 2025. Its main aim is to support EPSS's human resource department through developing a package of support to build the capacity of its staff, with the larger goal of supporting EPSS to become an effective and efficient regional leader in national health supply chain and logistics.

To date, Transaid has conducted a situational analysis which includes recommended areas of support to EPSS. An action plan was co-created with EPSS staff as part of a workshop which has since been approved by EPSSs’ Director General. Implementation activities will follow in 2025 led by the EPSS task force and supported by Transaid. This project reflects Transaid’s expertise in linking supply chain management and logistics to better outcomes for patients and communities and is an example of Transaid drawing on the strengths of our corporate partnerships.

Zambia MAMaZ Against Malaria (MAM)

Transaid was proud to continue supporting communities in Serenje and Chitambo Districts this year. The activities have included a scoping activity to establish the status of the emergency transport systems (ETS) in place, with visits to 27 health facilities with 54 Neighbourhood Health Committees operating under them. Having determined the repair needs of the bicycle ambulances in these two districts, 27 bicycle ambulances were repaired, 20 new bicycle ambulances were introduced and refresher training was conducted with 15 participating health facilities and 107 ETS riders and custodians. Further support was given in the form of the distribution of additional ‘tools of the trade’, including t-shirts (99) and rider IDs, as well as the inspection of bicycle ambulance shelters.

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- Guidelines for pre referral rectal artesunate implementation at community level for children

with severe malaria

Given the lifesaving impact of the MAM project, Transaid was commissioned by Medicines for Malaria Venture to develop a set of guidelines to support the roll out of the approach in other countries to save the lives of children under six suffering from severe malaria. These guidelines were launched via a webinar in March 2025 attended live by 99 viewers from more than 10 countries. In addition, a member of the MAM team travelled to Nigeria to train trainers from five States about the MAMaZ Against Malaria approach and use of rectal artesunate capsules (RAS) at the community level. This represents a very positive step in terms of taking the approach to the country with the world’s highest malaria burden. A copy of the guidelines can be found here: https://www.transaid.org/wp-content/uploads/2025/03/Community-RAS-Guidelines-MMV-March2025.pdf

Knowledge Management and Information Sharing

Following the recent launch of Transaid’s new website, Knowledge Management and the Knowledge Centre continue to play a vital role in supporting the organisation’s efforts to share and exchange information effectively.

Knowledge sharing

Transaid continues to promote and share information about its programmes via the Knowledge Centre. Transaid's website had 24,710 users over the last year, an approximate increase of 24% over the previous reporting period.

This year has seen Transaid participate in an increased number of international conferences, with highlights including speaking slots at the 15th World Conference on Injury Prevention and Safety Promotion in Delhi, the International Road Federation World Congress in Istanbul and the 4th Global Ministerial Conference on Road Safety in Morocco in February 2025.

In addition, Transaid has been invited to participate in the United Nations’ Global Forum for Road Traffic Safety in Geneva, as well as having been consulted regarding the planned UN Decade of Action on Sustainable Transport and the forthcoming World Bank guidelines on the safety of commercial motorcycles. Transaid continues to use these opportunities to share our knowledge and advocate for investment.

Social Media

The Transaid LinkedIn account saw 850 new followers during this period, an increase of 25%, and 4,847 views. This is a trend with year-on-year growth over the past three years, averaging 26% per year. We are no longer able to collect data for Transaid’s X (Twitter) account as it now requires a premium paid account to access subscriber data.

Transaid’s YouTube channel had 3,150 views and almost 70 hours of "watch time." These figures have increased since the last period, with 10% more views and 13% more hours of watch time. The two previous reporting periods were relatively similar, so this slight increase is a positive trend for Transaid’s YouTube channel.

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Knowledge Centre

From April 2024 to March 2025, 1,933 downloads from Transaid’s website took place, a 66% increase on the same period last year and surpassing Transaid’s annual target this year of 1,200. This increase could be attributed to the new items being created and shared, such as factsheets and manuals, Transaid's increased presence at conferences and other virtual events and webinars.

Knowledge/resource creation

New resources that were published over this reporting period and uploaded to the Transaid Knowledge Centre included:

8 tools:

2 technical briefs:

3 impact briefs:

3 webinars:

Additionally, the three safety videos created by SWRW Kenya as part of the Kenya National Helmet Wearing Coalition are on Transaid's YouTube channel.

Three journal articles were also published during the year:

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Our programme funders in 2024/25 included, directly or indirectly (through partners):

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

No. Project Country
1 Driving Safety Across Ghana - (funded by the 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 Kenya National Helmet Wearing Coalition (funded by the FIA Foundation) Kenya
5 Kenya – Madereva Salama Zaidi (funded by Lloyd’s Register Foundation) Kenya
6 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
7 South Africa – Safer public transport for women (funded by the Canada Fund
for Local Initiatives (CFLI))		 South Africa
8 Ethiopia - Support and technical services to the Ethiopian Pharmaceuticals
Supply Service (EPSS) (funded by the American International Health Alliance
(AIHA) through the Bill Gates Foundation)		 Ethiopia
9 MAMaZ Against Malaria – strengthening emergency transport systems in
Zambia		 Zambia
10 Guidelines for pre-referral rectal artesunate implementation at community
level for children with severe malaria (funded by Medicines for Malaria Venture)		 Global

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Fundraising successes in the year:

Transaid has had a number of fundraising and influencing successes in the year. Events of note included the Transaid Showcase event in November 2024 (bringing together over 100 partners and supporters), the 2024 Motor Transport Awards (£20,000 raised) and the 2024 Multimodal Exhibition and Awards Dinner (£19,000 raised).

We also ran two cycle challenges in the year. In September 2024, 36 riders participated in our Newcastle to Edinburgh cycle challenge and in October 2024, 30 riders participated in our Cycle Kenya challenge. The two rides collectively raised £269,363 gross.

Our 2024 Christmas Appeal secured £33,495 for Transaid from corporate and individual festive donations.

In September 2024, the second Scottish Transaid Dinner took place and raised over £100,681 from ticket sales, sponsorship, and fundraising activities.

The total Gifts in Kind in the year were £229,112 (2024: £126,252) of which £116,672 was fundraising and £112,440 programmes. This support covers vital training equipment for our partners in Africa, staff secondments/advisory services and a generous number of raffle and auction prizes. We are extremely grateful for all of this support from our corporate partners.

Transaid is grateful for the longstanding support from our corporate partners. The organisation s core corporate and institutional supporters during 2024/25 including continuing support from Asset Alliance, BigChange, Brigade Electronics, British International Freight Association (BIFA), Chartered Institute of Logistics and Transport (CILT), Cold Chain Federation, Confederation of Passenger Transport (CPT), DAF Trucks, Dawsongroup, DHL Supply Chain, DP World, Driver First Assist, EORI UK, Go-Ahead Group, GXO, Hankook Tyres, Integrated Transport Planning (ITP), Iron Mountain, Iveco, Jaguar Land Rover, Logistics UK, Lytx, The Malcolm Group, Man Truck & Bus UK, , Michelin Tyre, Microlise, National Express Group, Radius, Road Haulage Association (RHA), Simpex Express, UK Warehousing Association (UKWA), Vaculug, WACO, Wincanton,and associates Backhouse Jones Solicitors and Garnett Keeler.

During 2024/25 we were very pleased to welcome four new corporate partners – Driver First Assist, Radius, DP World and Vaculug.

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

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

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 2024/25.

Indicator Result
Number of people trained in driver
training centres which Transaid is
supporting		 9,096
Number of driver trainers trained 44
Number. of countries where new driver
training curricula has been adopted		 1 (Ghana)
Number of manuals developed to support
training of commercial motorcycle riders		 1 (Combined manual for the training of commercial
motorcycle riders (Kenya))
Number of new refresher training modules
developed (HGV)		 8 (Ghana)
Number of minibus taxi associations
adopting safe taxi charter		 8
Number of global guidelines to support
scale up of Transaid approaches		 1 (Guidelines for pre-referral rectal artesunate
implementation at community level for children with
severe malaria).
Number of community-based emergency
transport systems established or
strengthened in Zambia		 47
Number of applied research programmes
conducted that will contribute to global
learning on transport and development
and inform policy makers and
implementers		 1
VREF – phase 2 - Investigating young men’s
experiences of walking to the bus in low income
neighbourhoods of Mossel Bay (South Africa) and
Worthing (UK): A comparative study built around
community peer research methodology.

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Indicator Result
Number of journal articles published on
work Transaid was involved in delivering		 3 (reference page 11 for more details)

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 whilst challenging, the environment is still conducive to the delivery of Transaid s operations and achieving our planned impact. Our corporate partners and supporters are so well placed to understand the vital need for improved road safety and the use of logistics and supply chain knowledge to enhance access to health. Our in kind donations reflect the strength of our relationships with the logistics industries and we are so grateful.

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 the Puma Energy Foundation, FIA Foundation, corporate partner support and funds raised at third party events, via appeals and on challenge events. Total funds held at the end of the year and carried forward to 2025/26 amounted to £496,311 (2024: £472,645) made up of £442,082 unrestricted and £54,229 restricted funds. 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. An intentional investment/deficit budget for the year 2025/26 has been developed to ensure that Transaid is able to support communities in need and that momentum in line with our strategy is maintained. 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:

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Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Individual risks are identified 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.

The risk register was adapted in 2023 to allow for more proactive management of risks, with a new ‘top tier’ risk log that assigns owners, timelines for action and is monitored regularly by the leadership team and now shared half yearly with the Finance and Management Committee.

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

  1. Transaid's operations are adversely affected by cash flow peaks and troughs or weak project (donor funded) pipeline

  2. Transaid operations are affected by cyber-attacks, viruses or theft of laptops

  3. Transaid's operations are adversely affected by challenges facing the transport and logistics sector in the UK

  4. Poor staff wellbeing/ill health affects Transaid's team and ability to deliver mission

  5. A lack of appropriate skills/availability limits Transaid' ability to deliver programmes, influence and create scalable models

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

  1. Transaid's operations are adversely affected by cash flow peaks and troughs or weak project (donor funded) pipeline - Cash flow managed carefully. For major grants, payment in advance is 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 regularly reviewed by the leadership team and by the FMC eight times a year. Transaid’s internal business development working group meets fortnightly. Transaid has intentionally increased engagement with donors and decision makers and is placing emphasis on converting opportunities. Increased presence at target conferences and face-to-face senior meetings, especially in the context of cuts to Overseas Development Assistance from a number of countries.

  2. 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. In 2024 cyber security essentials was completed and Transaid passed. This will be renewed annually. Using team meetings to remind people of the need to be vigilant with passwords, other controls and emails. Inductions around cyber security strengthened. Cyber insurance in place (cover £250k). Benchmarking with other organisations and learning from their approaches is underway.

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For the year ended 31 March 2025

  1. Transaid's operations are adversely affected by challenges facing the transport and logistics sector in the UK – Transaid continues to actively engage with our membership base and emphasise how Transaid can support with Environmental, Society and Governance plans and impact reporting. New corporate partnerships officer to offer closer engagement with partners. Ensure good spread of partners in different sectors and keep close to trends so that loss of partners can be anticipated and prevented/mitigated where possible. We are keeping our partners engaged and are holding new events that offer members increasing value and networking opportunities.

  2. Poor staff wellbeing/ill health affects Transaid's team and ability to deliver mission - Staff engagement surveys completed regularly to capture gaps/areas for improvement and share results with the team. For any health issues - individual/s being supported. Regular checkins taking place. Work load adapted as necessary. Beststart HR also providing advice. Continue supporting individual/s but also ensure plans in place to cover workload in the short term and have contingency plan in place for the longer term.

  3. A lack of resource prevents Transaid creating scalable models and influencing the global development community as much as it could – Transaid has been investing in ‘business development’ and profile-raising activities to increase grant funding and global influencing. These activities were given high priority for 2024/25. The second part of this risk is around ensuring we have the right skills in place and that if key members of the Transaid team leave then this does not result in critical knowledge/relationship gaps. We are ensuring that strategic relationships are not held exclusively as well as working on effective internal communication and information sharing. There have been a number of promotions in 2024/25 and a focus on developing the talent within the team to strengthen succession planning. We have also conducted a staff engagement survey to capture gaps/areas for improvement and this will be regularly repeated.

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 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 2024/25 budget this figure was calculated as £371,120. As at 31[st] March 2025 Transaid’s

17

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

unrestricted reserves stood at £442,082 exceeding the minimum target of £371,120. Transaid has developed an intentional investment budget for 2025/26 and will continue to review the reserves across the year.

Based on these 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 2024/25 Transaid received zero (2023/2024 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 ten 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 strategy for 2024-2026 reaffirms our commitment to focus on road safety and access to health and to continue to work with local partners, governments and the private sector to maximise our impact.

Transaid’s budget for 2025/26 reflects the challenging environment in which we are operating, but also intentionally plans to invest reserves held above our threshold in order to support communities we serve, many of who need our support more than ever. 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.

18

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

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 and Management 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 half yearly.

  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.

19

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

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. Diversity within the board is actively encouraged, including meaningful representation from the countries where Transaid operates programmes.

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.

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: Appload (Mozambique), Chartered Institute of Transport and Logistics Ghana, DAI Global Health, Disacare (Zambia), Development Data, Durham University, EnergyWorks (Mozambique), Ethiopian Pharmaceuticals Supply Service, Flone Initiative Trust (Kenya), Girls Voices Initiative (Nigeria), Industrial Training Centre (Zambia), Kenya Bureau of Standards, Kenya Riders and Owners Bodaboda Savings and Credit Co-operative (Kenya), Kenyan Transporters Association, Mott MacDonald, Multimedia University of Kenya, National Institute of Transport (Tanzania), National Transport and Safety Authority (Kenya), North Star Alliance, Safe Way Right Way Kenya, Safe Way Right Way Uganda, Sonke Gender Justice (South Africa), South African National Taxi Council, University of the Western Cape.

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 represent the organisation at industry events and other activities of their choosing. Almost 50 people support the organisation in this way.

20

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

Remuneration policy for key management personnel

Tranaid’s remuneration policy is based on a commitment to attract, retain, develop, motivate and equitably compensate employees of the highest calibre. 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:

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

21

Transaid Worldwide Services Limited

Trustees’ annual report

For the year ended 31 March 2025

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.

At the AGM in October 2023 a special resolution was passed regarding the composition of Transaid and to update its membership by allowing the existing members at the time to retire and the existing trustees to assume membership in their place. Resignation letters had been received from the three original founding members of Transaid as well as consent letters from all fourteen trustees to take over as members of Transaid. As such, a special resolution was passed to formalise the appointment of the trustees as members of Transaid and streamline the process of membership.

Members of the charity limited by guarantee are liable 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 2025 was 13 (2024: 14).

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 28 October 2025 and signed on their behalf by

Joan Aitken Chair

22

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 2025 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).

In our opinion, the financial statements:

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.

23

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:

24

Independent auditor’s report

To the members of

Transaid Worldwide Services Limited

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 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:

25

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: 18 December 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

26

Transaid Worldwide Services Limited

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

For the year ended 31 March 2025

For the year ended 31 March 2025
Note
Income from:
2
3
4
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
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
£
211,333
189,550
750,791
3,972
5,776		 Restricted
£
-
327,338
-
-
-		 2025
Total
£
211,333
516,888
750,791
3,972
5,776		 Unrestricted
£
160,645
144,734
571,915
2,506
1,301		 2024
Restricted
Total
£
£
-
160,645
294,156
438,890
-
571,915
-
2,506
-
1,301
294,156
1,175,257
-
434,750
322,246
726,471
322,246
1,161,221
28,089
-
(1)
14,036
-
18,697
(1)
32,733
1
439,912
-
472,645
14,036
(28,090)
1,161,422 327,338 1,488,760 881,101
599,823
582,023		 -
277,947		 599,823
859,970		 434,750
404,225
1,181,846 277,947 1,459,793 838,975
(4,838)
(20,424)		 4,838
49,391		 -
28,967		 (28,089)
42,126
(25,262)
(5,301)		 54,229
-		 28,967
(5,301)		 14,037
18,697
(30,563) 54,229 23,666 32,734
472,645 - 472,645 439,911
442,082 54,229 496,311 472,645

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.

27

Transaid Worldwide Services Limited

Company no. 03511363

Balance sheet

As at 31 March 2025

Transaid Worldwide Services Limited
As at 31 March 2025
Balance sheet		 Transaid Worldwide Services Limited
As at 31 March 2025
Balance sheet		 Company no. 03511363
Note
£
Fixed assets:
11
12
Current assets:
13
206,615
224,175
430,790
Liabilities:
14
(197,032)
18
54,229
442,082
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		 2025
£
£
-
262,553
262,553
239,672
330,993
570,665
(291,348)
233,758
496,311
472,645
496,311
496,311		 2024
£
474
192,854
193,328
279,317
430,790
(197,032)
54,229
442,082
472,645
472,645
472,645

Approved by the trustees on 28 October 2025 and signed on their behalf by

Joan Aitken Chair

28

Transaid Worldwide Services Limited

Statement of cash flows

For the year ended 31 March 2025

For the year ended 31 March 2025
Note
Cash flows from operating activities
Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by / (used in) operating activities
Cash at bank and in hand
Total cash and cash equivalents
Analysis of cash and cash equivalents
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 Investment		 £
£
28,967
474
(3,972)
33,057
(94,315)
(35,790)
3,972
(75,000)
(71,028)
(106,818)
330,993
224,175
At 1 April
2024
Cash flows
£
£
330,993
(106,818)
330,993
(106,818)
2025		 £
£
14,036
473
(2,591)
50,311
62,029
124,258
2,591
(25,000)
(22,409)
101,849
229,144
330,993
Other
changes
At 31 March
2025
£
£
-
224,175
-
224,175
2024
(35,790)
(71,028)		 124,258
(22,409)
At 1 April
2024
£
330,993		 Other
changes
£
-
(106,818)
330,993		 101,849
229,144
224,175 330,993
Cash flows
£
(106,818)		 At 31 March
2025
£
224,175
330,993 (106,818) - 224,175

29

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

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.

b) Basis of preparation

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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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.

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

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

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

30

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

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.

Items of equipment are capitalised where the purchase price exceeds £1,500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

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.

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.

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.

31

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

the year ended 31 March 2025
Income from donations and legacies
Gifts from individuals
Donated services
Donations		 Unrestricted
£
85,390
25,235
100,708		 Restricted
£
-
-
-		 2025
Total
£
85,390
25,235
100,708		 Unrestricted
£
77,899
32,787
49,959		 2024
Restricted
Total
£
£
-
77,899
-
32,787
-
49,959
-
160,645
211,333 - 211,333 160,645

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

Income from charitable activities
GCC MAM@Scale, Zambia
AIHA - Ethiopia EPSS
Volvo Research Education Fund
CFLI - South Africa Safe Taxis
GIZ Uganda
Puma Energy Foundation, Ghana
Puma Energy Foundation, DSA Ghana
FIAF Foundation/Kenya
Income from other trading activities
Total income from charitable activities
Other income
Challenge events
Corporate membership
Award evenings & other events
Gifts in kind (raffle prizes)
GIZ Mozambique
Lloyds Register Foundation
Gifts in Kind
MMV RAS		 Unrestricted
£
-
-
-
8,468
-
-
-
-
-
-
-
112,440
68,642		 Restricted
£
33,872
13,175
26,651
-
-
64,961
94,728
84,051
-
-
9,900
-
-		 2025
Total
£
33,872
13,175
26,651
8,468
-
64,961
94,728
84,051
-
-
9,900
112,440
68,642		 Unrestricted
£
-
-
-
-
-
46,400
-
-
14,792
-
-
59,921
23,621		 Restricted
£
-
18,693
-
-
67,455
48,897
-
115,890
-
43,221
-
-
-		 2024
Total
£
-
18,693
-
-
67,455
95,297
-
115,890
14,792
43,221
-
59,921
23,621
189,550 327,338 516,888 144,734 294,156 438,890
Unrestricted
£
266,369
234,000
234,458
15,964		 Restricted
£
-
-
-
-		 2025
Total
£
266,369
234,000
234,458
15,964		 Unrestricted
£
111,281
250,000
183,746
26,888		 Restricted
£
-
-
-
-		 2024
Total
£
111,281
250,000
183,746
26,888
750,791 - 750,791 571,915 - 571,915

32

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

5a Analysis of expenditure (current year)

Analysis of expenditure (current
the year ended 31 March 2025		 year)
Staff costs (Note 7)
Social Security costs
Pension
Compensated absences
Fundraising expenses
Project expenses
Auditors remuneration
Rent - land and buildings
Insurance
Bad Debt written off
Office costs
Support costs
Governance costs
Total expenditure 2025
Total expenditure 2024		 Raising
funds
£
131,424
13,639
12,265
(314)
299,146
-
-
-
-
-
-		 Project
expenditure
£
179,792
19,536
17,751
(718)
-
429,917
-
-
9,108
-
-		 Governance
costs
£
16,675
591
1,663
11
-
-
9,300
-
-
-
-		 Support
costs
£
131,899
4,321
11,519
312
-
-
-
57,872
10,849
53,474
49,761		 2025
Total
£
459,790
38,087
43,198
(709)
299,146
429,917
9,300
57,872
19,957
53,474
49,761		 2024 Total
£
425,080
39,598
41,641
2,429
175,495
348,323
8,850
57,453
18,433
43,919
456,160
131,679
11,984		 655,386
188,328
16,256		 28,240
-
(28,240)		 320,007
(320,007)
-		 1,459,793
-
-		 1,161,221
-
-
599,823 859,970 - - 1,459,793 1,161,221
434,750 726,471 - -

33

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

5b Analysis of expenditure (previous 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 2024		 Raising
funds
£
117,255
12,211
10,919
-
175,495
-
-
-
-
-		 Project
expenditure
£
169,521
18,264
16,888
2,429
-
348,323
-
-
6,606
-		 Governance
costs
£
16,570
1,109
1,643
-
-
-
8,850
-
-
-		 Support
costs
£
121,734
8,014
12,191
-
-
-
-
57,453
11,827
43,919		 2024
Total
£
425,080
39,598
41,641
2,429
175,495
348,323
8,850
57,453
18,433
43,919
315,880
107,196
11,674		 562,031
147,942
16,498		 28,172
-
(28,172)		 255,138
(255,138)
-		 1,161,221
-
-
434,750 726,471 - - 1,161,221

34

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2025 2024
£ £
Depreciation 474 473
Operating lease rentals payable:
Property 52,967 52,967
Auditor's remuneration (excluding VAT):
Audit 9,300 8,850
Other services 2,000 -

Staff costs were as follows:

Employer’s contribution to defined contribution pension schemes
Social security costs
Salaries and wages		 2025
2024
£
£
459,081
427,509
38,086
39,598
43,199
41,641
540,366
508,748

There were no employees who earned more than £60,000 during the year (2024: none).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £261,262 (2024: £231,786). 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 (2024: £nil). Three trustees were reimbursed a total of £4,066 travelling and subsistence costs relating to attendance at meetings of the trustees during the year (2024: £4,228, 3 trustees).

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:

Support
Raising funds
Charitable activities
Governance
Full-time equivalents:		 2025
No.
3.6
5.5
3.1
0.5		 2024
No.
3.3
5.1
2.7
0.5
12.7 11.6
12.5 11.4

35

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

9 Related party transactions

In the year the related party transactions with the trustees were as follows: £30,396 from GXO Logistics (2024: £23,824) for staff time on secondment to projects in Zambia/Ghana and volunteering in Ethiopia, flights and accommodation and raffle prizes. £30,996 (2024: £5,000) from Garnet Keeler for PR support, designing Christmas appeal advert and May day training, £3,550 (2024: £4,250) from Logistics UK for Christmas appeal and raffle donation for a table of ten at Logistics UK Awards, £3,050 (2024: £1,589) from Blue Cube for raffle prizes.

Prior year related party transactions:

Related party transactions noted with our trustees were as afolows: £23,824 received from GXO Logistics, (2023:£24,964). These services include staff time on secondment to projects in Zambia, flights and accommodation and raffle prizes. And £5,000 (2023:£Nil) from Garnet Keeler for the sponsorship of Transaid Showcase, £4,250 (2023:£Nil) from Logistics UK for Christmas appeal and raffle donation for a table of ten at Logistics UK Awards, £1,589 (2023:£Nil) from Blue Cube.

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
-
-		 3,295
474
-		 20,855
474
-
17,560 3,768 21,328
- - -
- 474 474

All of the above assets are used for charitable purposes.

12 Investments

Investments
Disposal proceeds
Fair value at the start of the year
Additions at cost
Net gain / (loss) on change in fair value
Fair value at the end of the year		 2025
£
192,854
75,000
-
(5,301)		 2024
£
149,157
25,000
-
18,697
262,553 192,854

36

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

Trade debtors
Prepayments
Accrued income		 2025
2024
£
£
112,868
93,351
68,192
58,506
25,555
87,815
206,615
239,672

14 Creditors: amounts falling due within one year

Taxation and social security
Trade creditors
Other creditors
Accruals
Deferred income (note 15)		 2025
2024
£
£
81,832
24,018
41,914
37,370
-
-
9,424
26,618
63,862
203,342
197,032
291,348

15 Deferred income

Deferred income comprises funds received in advance for expenditure in a future period. £15,000 Corporate membership for 2025/26, £1,000 Victor Simfukwe award October 2025, £5,420 Africa cycle challenge in September 2025. Income of £28,204 was received in advance for Cork to Dublin Cycle Challenge taking place in September 2025, £9,000 Transaid football cup July 2025 and £5,200 Golf Day in June 2025.


£5,200 Golf Day in June 2025.
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/
Scottish
Dinner/
Microlise
Golf Day
£
46,300
(46,300)
16,000		 PUMA Ghana
/Benefact
/Ben Colson
£
78,560
(78,560)
-		 Newcastle-
Edinburgh/
Cork-Dublin/
Brigade Golf
Day
£
5,801
(5,801)
33,404		 Africa Cycle
Challenge//
Transaid
Football cup
£
72,681
(72,681)
14,458		 2025
2024
£
£
203,342
95,453
(203,342)
(88,493)
63,862
196,382
63,862
203,342
16,000 - 33,404 14,458

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 £43,199 (2024: £41,641). At 31 March 2025 there were £5,841 accrued pension contributions (2024: £4,881) and there were 11 employees enrolled in the scheme (2024: 10).

37

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

For the year ended 31 March 2025
17a
17b
18a
Restricted funds:
PUMA -Driving Safety Across Ghana
Total restricted funds
General funds
AIHA - Ethiopia EPSS
Fixed assets
Fixed assets
Volvo Research Education Fund
Net assets at 31 March 2024
Unrestricted funds:
Net assets at 31 March 2025
Analysis of net assets between funds (prior year)
Investments
Analysis of net assets between funds (current year)
Net current assets
Movements in funds (current year)
Investments
Net current assets
Ghana Puma Energy Foundation
Total funds
Total unrestricted funds
Uganda FIND
Uganda GIZ
CFLI - South Africa Safe Taxis
Kenya National Helmet -FIA
Lloyds Register Foundation		 At 1 April
2024
£
-
-
-
-
-
-
-
-
-		 General
unrestricted
£
-
262,553
179,529		 Designated
£
-
-		 Restricted
£
-
54,229		 Total funds
£
-
262,553
233,758
442,082 - 54,229 496,311
General
unrestricted
£
474
192,854
279,317		 Designated
£
-
-		 Restricted
£
-
-		 Total funds
£
474
192,854
279,317
472,645 - - 472,645
Income &
gains
£
94,728
13,175
33,872
64,961
-
9,900
26,651
-
84,051		 Expenditure
& losses
£
(40,499)
(13,175)
(33,872)
(64,961)
-
(9,900)
(26,651)
(3,209)
(85,680)		 Transfers
£
-
-
-
-
-
-
-
3,209
1,629		 At 31 March
2025
£
54,229
-
-
-
-
-
-
-
-
- 327,338 (277,947) 4,838 54,229
472,645 1,161,422 (1,187,147) (4,838) 442,082
472,645 1,161,422 (1,187,147) (4,838) 442,082
472,645 1,488,760 (1,465,094) - 496,311

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

38

Transaid Worldwide Services Limited

Notes to the financial statements

For the year ended 31 March 2025

18b Movements in funds (prior year)

e year ended 31 March 2025
Movements in funds (prior year)
Restricted funds:
Total restricted funds
General funds
Total unrestricted funds
Total funds
WHO Timor Leste
Volvo Research Education Fund
Grand Challenges Research Fund
Ghana Puma Energy Foundation
Uganda GIZ
Mozambique GIZ
Zambia GCC MAM@Scale TTS 3
Kenya National Helmet -FIA
Unrestricted funds:
Uganda FIND		 At 1 April
2023
£
-
1
-
-
-
-
-
-
-		 Income &
gains
£
-
18,693
-
48,897
67,455
43,221
-
-
115,890		 Expenditure
& losses
£
-
(21,239)
(25)
(67,809)
(67,455)
(49,828)
-
-
(115,890)		 Transfers
£
-
2,545
25
18,912
-
6,607
-
-
-		 At 31 March
2024
£
-
-
-
-
-
-
-
-
-
1 294,156 (322,246) 28,089 -
439,911 899,798 (838,975) (28,089) 472,645
439,911 899,798 (838,975) (28,089) 472,645
439,912 1,193,954 (1,161,221) - 472,645

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.

PUMA Energy Foundation -Driving Safety Across Ghana, building driver training capacity to reach more drivers in Ghana and West Africa.

Canadian Funds for Local Initiatives (CFLI) - South Africa Safe Taxis, Improving safe access to public transport for women living in townships in the Western Cape.

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.

American International Health Alliance (AIHA), providing technical services to the Ethiopian Pharmacy Supply Services (EPSS), specifically to its Human Resource Administration and Development Directorate to strengthen and expand human resources staff capacity and processes within the context of supply chain management.

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		 2025
2024
£
£
54,106
53,297
54,106
53,297
-
-
108,212
106,594
Property

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.

20 Legal status of the charity

39