OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

Charity registration number 1080131

Company registration number 03921677 (England and Wales)

EDUCATION SAVES LIVES

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miles Donohoe (Chair) Matthew Sampson Russell Thompson Stuart Dawson Jyotsna Chandrani (Appointed 22 November 2023) Charity number 1080131 Company number 03921677 Registered office Canopi 82 Tanner Street London SE1 3GN Auditor BK Plus Audit Limited Oakingham House Frederick Place High Wycombe Buckinghamshire HP11 1JU

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

CONTENTS

Page
Trustees' report 1 - 6
Statement of Trustees' responsibilities 7
Independent Auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 16

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The Board presents their report together with the audited financial statements of the company for the year ended 31 March 2024. The Report of the Board is also the Trustees' Report as required by parts 8 and 10 of the Charities Act 2011, as amended by the Charities Act 2006. The financial statements comply with the requirements of the Companies Act 2006, the Charitable Company's Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (FRS 102).

FINANCIAL REVIEW

Funds received totalled £61,022 (2023: £13,513) whilst funds expended totalled £122,010 (2023: £126,688), a net deficit of £60,988 (2023: £113,175). There is an unrestricted deficit at the year-end of £195,290 (2023: £133,609) and a restricted surplus of £2,859 (2023: £2,166).

RESERVES POLICY

Canopi Foundation 2 Our parent organisation, Canopi Foundation, underwrites the organisation’s core costs as per an agreed budget and prior approval from the Chief Executive.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

Education Saves Lives is a Charitable Company limited by guarantee and is a Registered Charity. It is governed by its Memorandum and Articles of Association, last amended on 16 August 2023. Education Saves Lives retains individual Registered Charity and Legal Entity status and is a wholly owned subsidiary of Canopi Foundation.

The charitable objectives of Education Saves Lives are:

Note: Canopi Foundation also owns two other wholly owned subsidiaries, Canopi Foundation 1 and Canopi Foundation 2, operating as 'Canopi' in the sphere of serviced offices and training for the Social Sector.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the Charitable Company is exposed, in particular those related to the operations and finances of the Charitable Company and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

SAFEGUARDING

Safeguarding sits alongside our core objective of enabling all people to live a healthier and safer life. While we have policies in place to cover our own office, ensuring that all our beneficiaries and partners are protected is a very different proposition. We seek to involve our partners in Safeguarding, and have developed a code of conduct which encourages them to open in reporting locally and to us, if, for example, any disclosures are made during a meeting where our lessons are being viewed.

There were no safeguarding concerns raised in the period covered by this report.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

The Articles of Association stipulate that there must be a minimum of three and a maximum of ten Trustees. All Trustees must be members of the Charitable Company, additional Trustees may be appointed by the existing Trustees at any time, either to fill a casual vacancy or as an addition to the existing Trustees. Any Trustee so appointed will hold office only until the next Annual General Meeting and will then be eligible for re-election. One third of the Trustees are to retire by rotation at each Annual General Meeting.

No Trustees had a beneficial interest in contracts with the Charitable Company during the year.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

INDUCTION AND TRAINING OF NEW TRUSTEES

The Charitable Company strives to ensure equal opportunities and diversity in both the employment of staff and Trustee appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities.

Trustees are given a comprehensive induction when they join the Charitable Company. Recruitment involves

interviews with the Chair and existing Trustees.

Additionally, individual Trustees may undertake external training in a particular area of their role on the governing body.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Board of Trustees controls and manages the affairs of the charity. Leadership and operational management of Education Saves Lives are devolved to the Senior Management Team.

The Senior Management Team through this period, and at the time of writing this report, are:

The Board of Trustees hold the Senior Management Team to account on key performance indicators as agreed between both parties, as well as monitoring the strategic direction.

OBJECTIVES AND ACTIVITIES

Principal activities

Education Saves Lives’ principal activities as defined by the charitable objectives are:

‘To preserve and protect the health and improve the lives of people in any part of the world, especially those in countries that are low on the Human Development Index, by educating beneficiaries, and equipping them to make informed decisions about their health, lifestyle and environment.’

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Summary of activities undertaken for the public benefit

In carrying out their duties, the Trustees have given due regard to guidance given by the United Kingdom Charity Commission on public benefit.

We seek to meet these objectives through these primary activities:

We have 35 different lesson titles across a range of topics, all of which address different health and life threats, as well as contributing to the UN Sustainable Development Goals (SDGs). Once converted to local languages, the lessons are offered free on DVD or USB for use by anyone, from grassroots organisations to government ministries, so that all communities can access the information, whatever their level of education. In addition, the vast majority of our lessons are also available to play from our website.

A rolling clinical review process to audit and update (where needed) the lesson scripts has been established, to ensure that the content is up to date, relevant, and appropriate. Priority is given to lessons that refer to specific clinical guidance rather than general principles (e.g. guidance on Antiretroviral therapies has changed in the lessons about HIV medicine, as new treatments become available).

Our current lesson portfolio is:

HIV/AIDS:

Find out about HIV and AIDS Help and Care for Someone With AIDS HIV Tests HIV/AIDS: A Guide For Children Keeping well With HIV Your HIV Medicine

HEALTH :

Avoiding Ebola Malaria Bednets Can Save Lives Cholera Coronavirus Dengue fever (new 2024) Diarrhoea High Blood Pressure Immunisation

ADDICTION :

Dangers of Alcohol Dangers of Smoking Say No to Glue and Drugs

SAFE LIVING:

Becoming a Man Becoming a Woman Human Trafficking Safer Sex For Teenagers Taking Care and Keeping Safe

MOTHER AND BABY : Breastfeeding TBA Skills - Pregnancy When to Have a Baby You and Your New Baby

HEALTHY ENVIRONMENT :

HEALTHY LIVING :

Basic Hygiene Healthy Eating Looking After Your Teeth Safe Water

Beware of Landmines Making Compost Planting Trees is Good

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENTS AND PERFORMANCE

Summary of main achievements

During the reporting period we continued to develop and test a new delivery model on USB stick/flashdrive. This will enable us to reach communities where DVD machines are not available, and to send more lessons to our users. The USB can carry around 70 lessons, compared to a standard DVD which has one.

This has enabled us to upscale distribution, with 77,268 lessons sent to more than 167 organisations of various sizes in countries including:

Burundi Cambodia Cameroon DRCongo Ethiopia Ghana India Kenya (local and refugee communities) Liberia Nigeria Pakistan Rwanda Sierra Leone South Africa Spain Tanzania Uganda (local and refugee communities) UK (refugee services) USA (refugee services) Zambia Zimbabwe

We know that on average each of our lessons are viewed by 200 people in their lifetime, so we can project that more than 15 million viewings were facilitated through the lessons distributed in the reporting period. The cost per viewing of lessons was already well below £0.03 across our entire project, and is now significantly reduced because of the greater capacity and lower price of the USBs. The organisations who receive the lessons do so free of charge.

The groups that use our lessons are addressing a wide spectrum of needs across a huge geographical area. The usual model is for the lessons to be used in the context of an existing project, which will be addressing one or more of the UN Sustainable Development Goals (SDGs), but sometimes partners are designing projects specifically to incorporate our lessons because they see the value and impact that these lessons add to the local community.

At the request of health authorities in southern India, we developed a new lesson about Dengue fever, which launched in the first half of 2024. Other new lessons are proposed and in the pipeline. When developing new lessons we endeavour to prioritise the requests and suggestions of our users as they are the ones who are most familiar with the needs of their communities.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future developments

Education Saves Lives’ objectives for the coming year are:

Public benefit

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the Charity's future activities. The aims of the Charitable Company for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the Charitable Company's aims for the public benefit are outlined under 'Achievements and Performance' above.

Employee involvement and employment of the disabled

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The Charitable Company carry out exit interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Trustees.

The Charitable Company has implemented a number of detailed policies in relation to all aspects of personnel matters including:

In accordance with the Charitable Company's Equal Opportunities Policy, the Charitable Company have long established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the Charitable Company's offices.

A salary benchmarking review was undertaken during the year which resulted in an uplift to the salaries of Education Saves Lives to bring them in line with the rest of the Foundation.

Thank you

Many thanks to our customers, partners and staff who have supported us through the past year, enabling us to achieve the highest viewing levels in our history.

Disclosure of information to Auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditor

In accordance with the Charitable Company’s articles, a resolution proposing that BK Plus Audit Limited, successor firm to Haines Watts High Wycombe Limited, be reappointed as auditor of the Chartiable Company will be put at a General Meeting.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Trustees' report was approved by the Board of Trustees.

2 .............................. CA6E7B9A7CEC430... by: Miles Donohoe (Chair) 05/12/2024 Dated: .........................

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also the directors of Education Saves Lives for the purpose of company law, are responsible for preparing the Trustees' Report and 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 accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that year.

In preparing these accounts, the Trustees are required to:

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

Statement as to disclosure to our Auditors

In so far as the Trustees are aware at the time of approving our Trustees' annual report:

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EDUCATION SAVES LIVES

Opinion

We have audited the financial statements of Education Saves Lives (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet 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 Financial Reporting Standard 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 charity 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 the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's report 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 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.

Matters on which we are required to report by exception

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:

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EDUCATION SAVES LIVES

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Explanation as to the extent to which the audit was considered capable of detecting irregularities, including fraud

During the audit we identify and assess the risk of material misstatements of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks.

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

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusions. There is always the unavoidable risk that material misstatements in the financial statements may not be detected despite the audit being properly performed in accordance with UK Auditing standards.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EDUCATION SAVES LIVES

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// 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.

Gary A Heywood (Senior Statutory Auditor) for and on behalf of BK Plus Audit Limited

Signed by: [ ......................... G ryC a ry H e ywood.ne 06/12/2024

Statutory Auditor

Oakingham House Frederick Place High Wycombe Buckinghamshire United Kingdom HP11 1JU

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 61,022 - 61,022 13,513 - 13,513
Expenditure on:
Charitable activities 4 122,010 - 122,010 126,688 - 126,688
Total resources
expended 122,010 - 122,010 126,688 - 126,688
Net outgoing
resources before
transfers (60,988) - (60,988) (113,175) - (113,175)
Net outgoing
resources before
transfers (60,988) - (60,988) (113,175) - (113,175)
Gross transfers between
funds (693) 693 - - - -
Net (expenditure)/income for
the year (61,681) 693 (60,988) (113,175) - (113,175)
Fund balances at 1 April
2023 (133,609) 2,166 (131,443) (20,434) 2,166 (18,268)
Fund balances at 31
March 2024 (195,290) 2,859 (192,431) (133,609) 2,166 (131,443)

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Current assets
Debtors 7 579 10,066
Cash at bank and in hand 1,770 2,093
2,349 12,159
Creditors: amounts falling due within
one year 8 (194,780) (143,602)
Net current liabilities (192,431) (131,443)
Income funds
Restricted funds 10 2,859 2,166
Unrestricted funds (195,290) (133,609)
(192,431) (131,443)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

04/12/2024 The financial statements were approved by the Trustees on .........................

2 by:

.............................. CA6E7B9A7CEC430... Miles Donohoe (Chair)

Trustee

Company Registration No. 03921677

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Education Saves Lives is a private company limited by guarantee incorporated in England and Wales. The registered office is Canopi, 82 Tanner Street, London, SE1 3GN.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Integral to this assessment is the continuing support of the members for at least 12 months from the date of the financial statements being signed. The parent company, Canopi Foundation, confirmed that it will support the charity beyond December 2025.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Resources expended

Liabilities are recognised as resources expended where there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and includes, where applicable, value added tax where this is irrecoverable.

Cost of generating funds are those included in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Taxation Education Saves Lives is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 61,022 13,513
61,022 13,513

4 Charitable activities

Staff costs
Office and administration costs
Overseas project costs
Other project costs
Share of governance costs (see note 5)
Analysis by fund
Unrestricted funds		 2024
£
59,523
20,317
21,947
19,223
1,000
122,010
122,010		 2023
£
45,750
18,159
48,544
14,235
-
126,688
126,688
Governance Governance
Costs Costs
2024 2023
£ £
Audit Fees 1,000 -

Docusign Envelope ID: 14936851-FA67-4620-86D6-89B828599277

EDUCATION SAVES LIVES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

7 Debtors

Debtors
2024 2023
Amounts falling due within one year: £ £
Other debtors 500 500
Prepayments and accrued income 79 9,566
579 10,066
Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 64 9,566
Amounts owed to fellow group undertakings 191,541 131,861
Accruals and deferred income 3,175 2,175
194,780 143,602
Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Fund balances at 31
March 2024 are
represented by:
Current (liabilities)/assets (195,290) 2,859 (192,431) (133,609) 2,166 (131,443)
(195,290) 2,859 (192,431) (133,609) 2,166 (131,443)

8 Creditors: amounts falling due within one year

9 Analysis of net assets between funds

10 Restricted funds

The income funds of the charitable company include restricted funds held specifically for a project in Rwanda.

11 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

12 Control

Throughout the period, Education Saves Lives was ultimately controlled by the parent undertaking, Canopi Foundation, a Charitable Company incorporated in England and Wales.