Trustees Annual Report & Accounts For the period from: 1 January 2022 to 31 December 2022
The Educational Frontier Trust, registered charity no. 1087070 www.TEFT.org.uk
The Educational Frontier Trust
Trustees Annual Report & Accounts
For the period from: 1 January 2022 to 31 December 2022
Table of Contents
TABLE OF CONTENTS ......................................................................................................................... 1 SECTION 1: LEGAL AND ADMINISTRATIVE INFORMATION ........................................................ 2 SECTION 2: TRUSTEES ....................................................................................................................... 3 SECTION 3: ACTIVITIES AND ACHIEVEMENTS ............................................................................. 4 SECTION 4: POLICIES .......................................................................................................................... 9 SECTION 5: SIGNATURE AND DECLARATION ............................................................................. 13 SECTION 6: INDEPENDENT EXAMINER’S REPORT ................................................................... 14 SECTION 7: STATEMENT OF FINANCIAL ACTIVITIES ................................................................ 15 SECTION 8: BALANCE SHEET ......................................................................................................... 16 SECTION 9: NOTES TO THE ACCOUNTS ....................................................................................... 17
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Section 1: Legal and Administrative Information
Charity name: The Educational Frontier Trust Any other name the charity is known by: TEFT Charity Commission registered number: 1087070 For the financial period beginning on: 1 January 2022 For the financial period ending on: 31 December 2022 Basis of accounts: Accruals Basis Charity’s principal address: 22 Brushwood Drive, Chorleywood, Hertfordshire WD3 5RT Governing document: Trust deed dated 1 March 2001 forming The Waterfall International Trust, as amended by a Deed of Variation dated 5 June 2001 which altered the name of the Trust to its current name. Objects of the Charity: To further such general charitable purposes as the trustees shall from time to time with their discretion determine, in particular but not exclusively the furthering of education in foreign countries. Bank: Barclays Bank PLC, Westminster Branch, London Independent Examiner for financial period: Steve Hale FCA FCCA Perrys Accountants Ltd, Churchdown Chambers, Bordyke, Tonbridge, Kent TN9 1NR Book-keeper for financial period: Kim Davenport, London SE26 Website: http://www.teft.org.uk/ Further information: office@teft.org.uk
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Section 2: Trustees
| Name of trustee (Details of any office held are added after the name.) |
Dates during which the named trustees acted if not for the whole period of this report |
Comments |
|---|---|---|
| Julie Dickins | ||
| Ben Grierson-Hill | ||
| Samantha Haydon Treasurer |
||
| Alison Hayward | ||
| Trevor Mwiu | ||
| Sarah Pickwick | ||
| Jonathan Taylor | ||
| Richard Walton Chairman |
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Section 3: Activities and Achievements
The Charity’s Origins and Aims
The Educational Frontier Trust (TEFT) was formed as a result of the trustees wanting to respond to the needs of the people living in Northern Kenya. The trustees believe that pastoralists and others living in Northern Kenya and in other poverty-stricken communities would benefit from becoming more self-reliant and self-determining, and that it is important to equip local people to have more control of their circumstances and become less dependent on external groups and organisations.
Kisima Trust
In pursuance of these objectives TEFT is actively working with a Kenyan charity, the Kisima Trust, to address the concern of empowering pastoralist and other communities of Northern Kenya and communities in other counties where poverty is very high.
Since 2001 TEFT has been supporting Kisima Trust’s main project to date, Kisima School, a residential mixed secondary school. Capital grants funded the initial acquisition of the school’s five-acre site and three acres of farmland, and the construction and development of the school buildings. Grants have been made in support of the establishment and running of Kisima School and the purchase of vehicles used by Kisima Trust.
Further information on the work of Kisima Trust can be found at http://www.teft.org.uk. Below are brief descriptions of the projects supported by TEFT.
Kisima Mixed Secondary School
The trustees believe that the provision of high-quality secondary education, enabling progression to university or some other form of higher education or vocational training, is one of the most effective ways of giving young people the chance to reach more of their potential and bring sustainable benefits to their communities. Offering equal education opportunities for boys and girls is considered by the trustees to be a key factor in improving living conditions in the communities of Northern Kenya and the other counties the school works with.
Kisima School is a free, residential secondary school for 160 students, currently comprising four year groups of 40 students, targeted at pastoralist and other disadvantaged communities in Northern Kenya and other communities where poverty is very high including areas close to the school. It provides free education to children from disadvantaged backgrounds who have proven academic potential to benefit from further learning. Due to the size of this part of Kenya, and the widely distributed nature of its population, residential schooling is common and accepted. The staff put considerable effort into ensuring that only genuinely disadvantaged children are accepted for Kisima School. All children admitted to the school are interviewed by school staff so that their academic capabilities and circumstances can be verified, and to ensure that no special interests have unfairly influenced their nomination. The effectiveness of this assessment can be seen in the high quality of the results of those graduating from the school, and is also reflected in the high proportion of students who are from a single-parent family and are therefore particularly disadvantaged.
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Kisima School is located in Nyahururu, a small town 200km northwest of the capital Nairobi, on the southern margins of Northern Kenya. The location of the school was chosen for two main reasons – a relatively stable and secure socio-economic environment, and infrastructure and accessibility. Unlike many areas in Northern Kenya, Nyahururu has good transport, communication and power networks as well as clean water and health services. Nyahururu also provides a ‘neutral’ site outside the many different tribal areas from which students come, fostering unity and integration and minimising the risk of inter-tribal tensions.
It is common for students to have interruptions to their school attendance, so those starting their first year of secondary education at Kisima can be aged between 14 and 18 years. The students are equally divided between boys and girls.
Current changes to the Kenyan education system and implications for Kisima School
Until recent years, primary education in Kenya lasted for 8 years, followed by 4 years at secondary school and 4 years at university. This 8-4-4 education cycle is now being replaced by a 2-6-3-3-3 system consisting of 2 years in pre-primary education, 6 years in primary education, 3 years in junior secondary education, 3 years in senior secondary education and 3 years (minimum) in university education. The curriculum is also being replaced by a new Competency Based Curriculum (CBC) where schools will be recognised for particular specialisms or pathways. Senior secondary schools must offer two out of three pathways: science, social sciences, arts and sports.
The new education system was first introduced in 2017 and the old 8-4-4 education cycle is gradually being replaced. It was announced at the end of 2022 that the ‘junior secondary’ phase will in fact be housed in primary schools (and as a result may be renamed). The implications are that primary school children will stay a year longer in their current institutions and secondary schools like Kisima will ‘lose’ their youngest year and transition to senior secondary in 2026.
Kenyan Certificate of Secondary Education (KCSE) results and beyond
Between 2020 to 2022, COVID-19 hugely disrupted education and exams, with all secondary schools closing in March 2020 and only re-opening for 4[th] year students in October 2020 and for all other pupils in January 2021.The 2020 curriculum was staggered across 2020 and 2021, and the new 2021 academic calendar did not start until July 2021 and continued until March/April 2022. Despite the disruption caused by COVID, the school continued to excel academically, with 100% of the 2020 graduating class achieving university entrance grades (C+ or higher) in their KCSE (Kenyan Certificate of Secondary Education) exams. And fortunately, perhaps largely due to extra hygiene measures, there has been no COVID-19 outbreak at the school.
The 2021 KCSE exams took place in March and April 2022, and (especially considering the COVID disruption) the results were very good, with 34 out of 36 students qualifying for university places and the remaining two qualifying for diploma courses. The 2022 KCSE exams took place in December 2022 and the results have been very similar, with 34 out of 36 students qualifying for university and the remaining two achieving C grades and qualifying for college. (By way of comparison, nationally, 19.6% of candidates achieved a university grade.) In both the 2021 and 2022 exams, a Kisima girl achieved the best grades among female students in Nyandarua County and as a result they have been selected for Equity Bank’s pre-university leadership programme.
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During 2022, Kisima students from the 2021 class embarked on a wide range of university degrees including Clinical Medicine, Mechanical Engineering, Public Health, Information Technology, Mass Communication, Agricultural Economics and Rural Development and Human Resource Management. Two students from this class are studying Law with a scholarship from international law firm DLA Piper.
Kisima School alumni who have graduated from university are working in a range of occupations in various parts of Kenya including their home areas. Examples of jobs begun by former students in 2022 include: Electrical Engineer, Civil Engineer, Nurse, Accountant, Agricultural Supply Chain Officer, Secondary School Teacher and Monitoring and Evaluation Officer for an NGO.
Kisima alumni are assisting their family members in many ways, such as building housing, paying school fees and contributing to living costs. They are also bringing change to their communities by sharing their knowledge and experience and by getting involved in local development projects.
There is an active group of Kisima School alumni who stay in touch with the school and one another and support Kisima School in various ways.
Running costs and capital expenditure
The total cost of running the school in 2022 was £175,299 excluding capital expenditure of £112,035 (see below). Costs were significantly helped by an advantageous exchange rate (sterling to Kenyan shillings) throughout 2022. This compares with £155,289 running costs in 2021. Salaries remained the largest individual cost in 2022 at approximately £100,000. Salary costs pay for the director, principal, 10 teachers, a lab technician, the sponsorship co-ordinator, a school secretary, a matron/head caterer, four cooks, two night watchmen, one site attendant, one farm attendant and a bus driver.
There were the following items of capital expenditure in 2022:
-
Following a prolonged drought, a water borehole was successfully drilled and a pump and water purifier installed. The cost of this and ongoing associated works (including the erection of a water tank tower and plumbing of showers for students) was £47,610. Most of this cost was paid for by a generous individual donor with the balance supported by the CHADIK foundation.
-
Roof repairs were carried out to the tuition block, dining hall and two water tanks at a cost of £22,461, again paid for by an individual donor.
-
CBC related costs of £30,000 for materials and £6,436 consultancy costs were also largely paid for by an individual donor.
-
CCTV security cameras – now a Government requirement – were installed at a cost of £5,528, of which £4,500 was donated by Christ Church, Chorleywood.
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Operational Safety
Since the opening of the school in 2005 it has been a key element of the selection process to meet students in their homes and communities and interview them there. In recent years the safety of personnel conducting these field trips became threatened due to much civil unrest and danger in the region and field trips were suspended. With relatively improved stability in the region, field trips were resumed in 2019 but suspended again in 2020/2021 due to COVID. They have not been reinstated and so pupils are selected based on their application forms and exam results and are then interviewed at the school.
Kisima Farm
The three acres of farmland purchased in January 2017 close to the school has proved to be a valuable teaching resource for agricultural studies and provides small amounts of extra food for the school kitchen. The land is about 20 minutes walk from the school. As with all land in this area steps need to be taken to protect crops from theft. Due to a kind grant from the Jerusalem Trust in 2020 a small farmhouse was built at the farm to house the farm attendant and a watchman. In 2021, a water pan was excavated to collect run-off rain water that can be used for irrigation in the dry season.
Fund Raising
Sponsorship Programme
TEFT continues to jointly administer the Child Sponsorship Programme with Kisima Trust. The programme, which contributes towards the students’ direct attendance costs (food, school books etc), was again fully subscribed for Kisima School’s 2021 and 2022 intake of students. The Sponsorship Programme provides a proportion of core funding for the school as well as broadening Kisima’s supporter base in the UK and abroad.
Kisima Friends
Thanks are also due to the large number of other donors to TEFT where gifts range from large one-off amounts to smaller regular gifts. This growing group of donors represents a core strand of the funding for Kisima and the trustees are hugely grateful for the loyalty and support of so many Kisima Friends.
Particular thanks go to two generous individual donors who wish to remain anonymous, members of Christ Church Chorleywood, Hayes Town Chapel, and members of Two Sisters Chapel in Kalmar, Sweden, who continue to support Kisima School with significant donations.
Including Gift Aid contributions, sponsorship and other regular donations funded the school’s entire annual running costs in 2022. The trustees are extremely grateful to Kisima’s many sponsors and friends for their generosity, commitment and support, and especially for their loyalty to Kisima during COVID-19. Many thanks too are due to the great efforts of Catherine Maina who co-ordinates the programme at Kisima School and to TEFT’s UK volunteer Sponsorship Co-ordinator Lesley Jones, who recently retired after many years.
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Other fund-raising
This included a sponsored cycle ride in August 2022 by four members of Christ Church Chorleywood, which raised some £15,000, and a kind donation of £9,000 from a long time Kisima supporter arising from the sale of 9 pedigree puppies!
Future Plans
As mentioned, the new education system is gradually being introduced, and Kisima will ‘lose’ their youngest year and transition to senior secondary status in 2026. Consideration is being given to increasing the year sizes in 2026 to maintain or increase the current intake of 160 pupils. The implementation of the new curriculum, and following science and social science pathways with older students, coupled with the Kenyan government’s expressed desire to expand the use and teaching of Information and Communication Technologies (ICT) in all schools, will require training for teachers, new ICT staff, the purchase of appropriate ICT equipment, and a new ICT centre. The necessary permits have been obtained for this new building, materials are being procured, and ground-breaking is imminent, with completion likely by the end of 2023. TEFT and Kisima are greatly indebted to a generous individual donor who has agreed to underwrite the cost of all aspects of the new classroom building and ICT centre and also to support the consequent increase in running costs in the medium term. Additionally a book-keeper or accountant will be joining the staff team to assist with financial oversight and reporting. TEFT continues to work closely with Kisima School’s management team in its planning.
Sponsorship and Friends’ regular giving, together with the Gift Aid contribution, are expected to fund roughly 70% of the school’s running costs in 2023. Running costs are expected to be approximately £188,000 depending on exchange rates. The budget will be regularly reviewed throughout 2023.
Organisation
Kisima Trust and TEFT are separate legal entities, although they have overlapping goals. This allows TEFT to properly hold Kisima Trust accountable for the grants it receives and to ensure that the funds are being put towards their designated uses. Kisima Trust has a board of trustees which meets regularly to provide both local insight and accountability to those working for Kisima Trust.
The trustees of TEFT meet at least six times a year and divide various responsibilities between them, including: communicating with Kisima Trust, reviewing the Trust’s budgets and expenditure, the development of project strategy, donor development and fundraising plans. Over the years most of the trustees have visited Kisima School (at their own expense). The trustees serve a 3-year term, but can be reappointed, as indeed many were in December 2021. At the same time, a new, Kenyan trustee, Trevor Mwiu, was appointed.
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Section 4: Policies
Public Benefit Requirements Policy
In seeking to pursue our current charitable aim of the advancement of education through supporting Kisima School, the trustees have referred to the Charity Commission’s guidance on public benefit when reviewing TEFT’s aims and objectives and in planning future activities and setting the grant making policy for the year.
The trustees seek to ensure that all activities undertaken by TEFT are in line with our charitable aims and objectives and are for the public benefit as required by the Charities Acts.
Trustees’ Remuneration and Conflicts of Interest
All trustees give of their time freely and no trustee remuneration was paid in 2022. No trustee claimed expenses during the year.
A new and comprehensive conflict of interest policy was agreed in 2020. Trustees (and senior volunteers) are asked to declare any potentially relevant interests they may have and to review and update their declaration of interests annually and in any event when any changes occur. In addition, a trustee must declare any interest which he or she has in an item to be discussed by the board of trustees and withdraw from the discussion unless the trustee does not stand to gain any benefit from the decision (a ‘conflict of loyalty’) and the other trustees decide he or she need not withdraw.
Risk Assessment
During the year the trustees have assessed the major risks to which its own operations in the UK, and the work of Kisima School in Kenya, are exposed. In the view of the trustees, appropriate and reasonable safeguards are in place to mitigate these risks.
On an ongoing basis the trustees seek to identify any potential detriment or harm arising from TEFT’s activities and ensure that pursing its activities and the expected benefits are balanced against the risks of any potential associated detriment or harm.
Reserves Policy
TEFT has no endowment fund and does not currently intend to build up such a fund. TEFT’s goal is to maintain reserves equivalent to one term’s running costs for the school in addition to the term one costs which are transferred in early January each year. In 2023 the running costs per term will be approximately £63,000 on average (on a three term basis). The 2022 goal of reaching £126,000 (running costs for approximately two terms) at the end of the year was exceeded as unrestricted general funds of £207,305 were held. This included a donation of £50,000 by a donor who wished to remain anonymous and was likely to be used for capital expenditure in 2023.
Investments Selection Policy
TEFT does not invest its funds on any speculative basis, but deposits them in bank accounts with reputable banks in the United Kingdom (earning interest where possible) pending the granting of such funds for their charitable purposes.
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Grant Making Policies
The focus of TEFT’s efforts is the Republic of Kenya. TEFT primarily supports activities which include or involve:
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the provision of facilities and resources required for the teaching of children, particularly from the pastoralist communities of Northern Kenya, who would otherwise be unlikely to benefit from education;
-
the purchase of land and the construction of buildings such as school classrooms, dining rooms, dormitories, office buildings and related buildings and infrastructure and the funding of other necessary ‘capital’ expenses;
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the funding of teaching and related administrative staff for the project, and the payment of other reasonable operating costs associated with the project being supported;
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grants to pay for the cost of providing education to school children and the funding of the provision of necessary related materials such as food for children in supported schools;
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the promotion of projects which are being supported by local charities and churches;
The following requirements are designed to guard against the misuse or fraudulent use of any grants from TEFT. To this end grant recipients must have adequate legal and procedural safeguards against decisions being made by a small number of individuals without ratification by a wider body, appropriate to the scale of the amount involved. These requirements therefore include both the following minimum principles and also minimum expectations of practices employed in the activities of the recipients.
Grants of less than £10,000 are referred to as Smaller Grants. Grants equal to, or in excess of, £10,000 are referred to as Major Grants.
TEFT’s basic guidelines for all grant recipients (i.e. recipients of both Major Grants and Smaller Grants) are as follows:
-
A beneficiary will need to have formally applied to the trustees for a grant, giving detailed information as to the intended use of the grant and details of the beneficiary itself;
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To the extent possible under local law, a beneficiary should be a registered charity in its own country. Whilst the countries in question may not have standards that are comparable to those set by the laws of England and Wales, this will provide a bare minimum check that the aim is fundamentally not that of personal profit;
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Individuals will not be considered for selection as a beneficiary;
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A beneficiary will need its own bank account, grants will not be sent to individuals on behalf of a charity;
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A beneficiary organisation will be required to send reports on how grants from TEFT have been used and to assist TEFT with updates on the progress achieved in furtherance of TEFT’s charitable aims;
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A beneficiary will be required to send copies of their financial accounts to TEFT as a check on the usage of a grant;
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A beneficiary should have a Christian ethos;
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A beneficiary will not, in the opinion of the trustees, bring TEFT into disrepute;
-
It is the general approach of TEFT that it is keen to support at most a few projects/charitable efforts where TEFT can make a real difference. Therefore, in addition to the trustees approving of the aims of the applicant, the trustees intend to focus on making sure that the beneficiaries are likely to be a success in their aims and the trustees would be keen to ensure that their support is genuinely going to be important in the project/effort going ahead.
TEFT views it as very important that donors to the charity are able to draw due comfort that the trustees have taken every reasonable precaution to ensure that grants are made both in line with its charitable purposes and that grants reach their intended destination. The trustees recognise the danger that once grants have been made TEFT will ultimately cease to have control over the funds; therefore the following will be required of beneficiaries prior to making grants:
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A beneficiary will be researched prior to grants being made and to the extent that questions remain in the minds of the trustees regarding either the ability of the beneficiary to safeguard such grants or to undertake the charitable efforts/projects for which the grants are being sought, then the grant application will be turned down;
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A beneficiary will be required to agree to send reports on how grants from TEFT have been used and as updates on the progress achieved in its charitable aims. Whilst in one sense this is more of a check and learning measure than a genuine protective measure, this assists TEFT in checking that previous grants have not been misused, providing greater confidence to TEFT in making further grants to the same organisation.
The requirements below are in addition to the above and apply to all Major Grants:
-
The beneficiary should have a minimum trustee/governance body of at least five unrelated individuals with decisions relating to the sale or purchase of assets with a market value at, or in excess of, the equivalent of £10,000 requiring the agreement of a majority of the entire trustee body (i.e. a minimum vote of three in favour of the decision).
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Trustees of the beneficiary to be Christians and people of good standing in the community, and without close ties to staff employed by the beneficiary, except as agreed by the beneficiary trustees in line with its trust deed and conflict of interest policy.
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No more than one trustee may be an employee of the beneficiary without the written consent of TEFT.
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The governing documents of the beneficiary should include the requirement for a clear conflict of interest policy to be adopted by trustees to ensure that staff/trustees are not able to benefit inappropriately from their positions, and there should be appropriate evidence that this is being adhered to, for example individuals being recused from any votes on decisions in which they have a conflict of interest.
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Quorum for all other decision-making to be three, i.e. a majority decision can be made by two people.
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Trustee meetings to be held at least three times a year with appropriate procedures in place in relation to practical matters such as notice given, the circulation of agendas and papers in advance, the recording of decisions made and circulation of minutes subsequently.
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Spending of grants to be accounted for to the satisfaction of TEFT, including reconciliation back to bank accounts on request.
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Sale of assets funded by TEFT with an independently established market value in excess of £50,000 not to be undertaken without the written agreement of TEFT.
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On a case by case basis, where significant changes could fundamentally be made affecting the charitable nature of the beneficiary, such changes require agreement by TEFT in order to protect the usage of the grant for charitable purposes.
Policy on Acceptance of Donations
TEFT has a policy with comprehensive guidelines pursuant to the Code of Fundraising Practice and guidance by the Institute of Fundraising and the Charity Commission, for trustees to follow when considering the acceptance of donations of more than £1,000.
Policy on Data Protection
TEFT also has an appropriate data protection policy.
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Section 5: Signature and Declaration
Declaration: I declare in my capacity of charity trustee, that:
-
The trustees have approved this report and accounts; and
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Have authorised me to sign it on their behalf.
Full name: Richard Walton
Position: Chair
Signature: Richard Walton
Date : 22 May 2023
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Section 6: Independent Examiner’s Report
I report to the trustees on my examination of the accounts of The Educational Frontier Trust for the year ended 31 December 2022.
Responsibilities and basis of the report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under Section 145 of the Act and in carrying out the examination I have followed all the applicable directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent Examiner’s statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Steve Hale FCA FCCA for and on behalf of Perrys Accountants Ltd Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR
Signed: S. Hale
Date: 23 May 2023
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Section 7: Statement of Financial Activities
Statement of Financial Activities for the Year Ended 31st December 2022
| Unrestricted Restricted Total Notes Funds Funds 2022 £ £ £ Income and Expenditure Income Donations and legacies 3 340,896 14,500 355,396 Total Income 340,896 14,500 355,396 Expenditure Cost of raising funds - - - Charitable activities - Grants and support costs 4 278,979 14,500 293,479 Total Expenditure 278,979 14,500 293,479 Net income and net movement in funds 61,917 - 61,917 Reconciliation of Funds Total funds brought forward at 1st January 2022 145,388 - 145,388 Total funds carried forward at 31st December 2022 207,305 - 207,305 |
Total 2021 £ 169,652 |
|---|---|
| 169,652 | |
| 900 164,534 |
|
| 165,434 | |
| 4,218 141,170 |
|
| 145,388 |
The Notes to the Accounts form part of these Financial Statements
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Section 8: Balance Sheet
| Current Assets Cash at bank Debtors Current Liabilities Creditors Net Current Assets The funds of the charity Funds and reserves General funds Restricted funds |
Notes 5 6 7 |
Notes 5 6 7 |
2022 £ 195,641 12,240 207,881 (576) 207,305 207,305 - 207,305 |
2021 £ 130,262 15,690 |
|
|---|---|---|---|---|---|
| 5 6 7 |
|||||
| 145,952 (564) |
|||||
| 145,388 | |||||
| 145,388 - |
|||||
| 145,388 |
ADOPTION RESOLUTION
The attached accounts and statement was approved by the Trustees of the above charity at their meeting on the 22nd May 2023
Name R W Walton Signature R W Walton Chair
Name S J Haydon Signature S J Haydon Treasurer
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Section 9: Notes to the Accounts
Notes to the Accounts
1 Basis of preparation
1.1 Basis of accounting
These financial statements have been prepared for the year to 31 December 2022. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.
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 United Kingdom and Republic of Ireland (FRS102).
1.2 Change in basis of accounting
There have been no changes to the basis of accounting during the financial year.
2 Accounting Policies
2.1 Income
Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds. These are included in full when received.
Restricted funds are to be used for the specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund.
2.2 Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.
2.3 Cash at bank
Cash at bank represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
2.4 Creditors
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement and the amount of the settlement can be estimated reliably.
Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.
| 3 | Analysis of income 3.1 Voluntary Income Individuals Organisations and trusts Tax Refunds Interest Total income |
Unrestricted Restricted Total Funds Funds 2022 £ £ £ 274,757 - 274,757 35,864 14,500 50,364 30,275 - 30,275 - - - 340,896 14,500 355,396 340,896 14,500 355,396 |
Unrestricted Restricted Total Funds Funds 2022 £ £ £ 274,757 - 274,757 35,864 14,500 50,364 30,275 - 30,275 - - - 340,896 14,500 355,396 340,896 14,500 355,396 |
Total 2021 £ 114,784 34,562 20,306 - |
|---|---|---|---|---|
| 340,896 | 169,652 | |||
| 340,896 | 169,652 |
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Notes to the Accounts (continued)
| 4 5 6 7 |
Analysis of expenditure 4.1 Analysis of grants Kisima School - running costs Kisima School - capital expenditure 4.2 Support costs TEFT website/comms Bookkeeper costs Bank transfer charges Independent examination Total grants and support costs Debtors Income tax recoverable Creditors Amounts due to Independent examiner Movement in funds Restricted funds Kisima School - capital expenditure Unrestricted funds General funds Total funds |
Unrestricted Funds £ 175,299 97,535 |
Unrestricted Funds £ 175,299 97,535 |
Restricted Funds £ - 14,500 |
Restricted Funds £ - 14,500 |
Total 2022 £ 175,299 112,035 287,334 2,094 3,180 295 576 |
Total 2021 £ 155,289 5,310 |
|---|---|---|---|---|---|---|---|
| 272,834 | 14,500 | 160,599 | |||||
| 2,094 3,180 295 576 |
- - - - |
111 3,180 80 564 |
|||||
| 6,145 | - | 6,145 | 3,935 | ||||
| 278,979 | 14,500 | 293,479 12,240 12,240 576 576 Outgoing Resources £ (14,500) (14,500) (278,979) (293,479) |
164,534 | ||||
| 12,240 | - | 15,690 | |||||
| 12,240 | - | 15,690 | |||||
| 576 | - | 564 | |||||
| 576 | - | 564 | |||||
| Balance at 1 Jan 2022 £ - |
Incoming Resources |
Balance at 31 Dec 2022 £ - |
|||||
| £ 14,500 |
|||||||
| - | 14,500 | - | |||||
| 145,388 | 340,896 | 207,305 | |||||
| 145,388 | 355,396 | 207,305 |
8 Other notes
As there are no employees, no employee was paid over £60,000.
None of the trustees have been paid any remuneration or received any other benefits from the Charity (2021 - none).
No trustees' expenses were incurred in the year (2021 - none).
There have been no transactions with persons or entities that are closely connected to the charity or its trustees (2021 - none).
The trustees consider that there are no material uncertainties about the ability to continue as a going concern.
THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 18 OF 18