2023-12-31-accounts - The Educational Frontier Trust

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

Trustees Annual Report & Accounts For the period from: 1 January 2023 to 31 December 2023

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 2023 to 31 December 2023 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

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 1 OF 18

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 2023 For the financial period ending on: 31 December 2023 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 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@kisima.org

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 2 OF 18

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	Jan – July 2023	Julie Dickins stood down as trustee in July 2023
Ben Grierson-Hill	1.1.23 - 31.12.23
Samantha Haydon Treasurer	1.1.23 - 31.12.23
Alison Fu-Wreakes	1.1.23 – 31.12.23
Trevor Mwiu	1.1.23 – 31.12.23
Sarah Pickwick	1.1.23 – 31.12.23
Jonathan Taylor	1.1.23 – 31.12.23
Richard Walton Chairman	1.1.23 – 31.12.23

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 3 OF 18

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 www.kisima.org. 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 Kisima 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

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 4 OF 18

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.

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 education cycle 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 schools in 2026.

Kenyan Certificate of Secondary Education (KCSE) results and beyond

After major disruption to education during the period between 2020 to 2022 resulting from the COVID epidemic, education at Kisima School returned to normal in 2023 with exams taking place in November. The school continued to excel academically, with 100% of the 35 students of the 2023 graduating class achieving university entrance grades (C+ or higher) in their KCSE (Kenyan Certificate of Secondary Education) exams.

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 include: Electrical Engineer, Civil Engineer, Nurse, Accountant, Agricultural Supply Chain Officer, Secondary School Teacher and Monitoring and Evaluation Officer for an NGO.

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 5 OF 18

Kisima alumni are also 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. One alumnus became the first to sponsor a student at the Kisima School in 2023.

Running costs and capital expenditure

The total cost of running the school in 2023 was £163,999 excluding capital expenditure of £139,908 (see below). Costs were significantly helped by an advantageous exchange rate (sterling to Kenyan shillings) throughout 2023. This compares with £175,299 running costs in 2022. Salaries remained the largest individual cost in 2023 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.

A major capital programme was completed in 2023:

Construction of a water tower with new plumbing for the dormitories and a new purification system for the water originating from the bore hole which was paid in part by a donation from another grant giving trust (CHADIK).
The building of a new three-storey classroom and ICT block, the cost of which was paid for by a generous individual donor.

There are further plans to equip the ICT centre and school with computers and printers in 2024. There are also plans to install solar heating on the roof of the ICT block in order to generate electricity to run parts of the school. A separate plan is in place to install solar water heaters on the boys and girls dormitories to enable warm water to be provided.

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 in 2023 for agricultural studies and provides small

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 6 OF 18

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 2023 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 several 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 2023. The trustees are extremely grateful to Kisima’s many sponsors and friends for their generosity, commitment and support.

Many thanks too are due to the great efforts of Catherine Maina who co-ordinates the programme at Kisima School with support from UK volunteers.

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 completion of the ICT centre.

TEFT and Kisima are greatly indebted to a generous individual donor who has agreed to underwrite the cost of all aspects of furnishing the new classrooms in the new classroom block and equipping the ICT centre as well as supporting the consequent

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 7 OF 18

increase in running costs of the school in the medium term. TEFT continues to work closely with Kisima School’s management team in its planning for the completion of these projects. The same donor has also supported two other capital projects: i) the purchase of solar panels on the new classroom and ICT block which will generate electricity to power the computers and light the building and ii) the provision of solar water heaters on the girls and boys dormitories to provide warm water for washing and showering.

Sponsorship and Friends’ regular giving, together with the Gift Aid contribution, are expected to fund roughly 70% of the school’s running costs in 2024. Running costs are expected to be approximately £200,000 depending on exchange rates. The budget will be regularly reviewed throughout 2024.

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.

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 8 OF 18

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 2023. 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 2024 the running costs per term will be approximately £66,000 on average (on a three term basis). The 2023 goal of reaching £135,000 (running costs for approximately two terms) at the end of the year was exceeded as unrestricted general funds of £199,003 were held. This included a donation of £50,000 by a donor who wished to remain anonymous.

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 9 OF 18

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.

Grant Making Policies

The focus of TEFT’s efforts is the Republic of Kenya. TEFT primarily supports activities which include or involve:

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;
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;
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;
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;
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;

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 10 OF 18

Individuals will not be considered for selection as a beneficiary;
A beneficiary will need its own bank account, grants will not be sent to individuals on behalf of a charity;
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;
A beneficiary will be required to send copies of their financial accounts to TEFT as a check on the usage of a grant;
A beneficiary should have a Christian ethos;
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:

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;
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).

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 11 OF 18

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.
No more than one trustee may be an employee of the beneficiary without the written consent of TEFT.
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.
Quorum for all other decision-making to be three, i.e. a majority decision can be made by two people.
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.
Spending of grants to be accounted for to the satisfaction of TEFT, including reconciliation back to bank accounts on request.
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.
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.

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 12 OF 18

Section 5: Signature and Declaration

Declaration: I declare in my capacity of charity trustee, that:

The trustees have approved this report and accounts; and
Have authorised me to sign it on their behalf.

Full name: Richard Walton

Position: Chair

Signature:

R W Walton

Date : 13 May 2024

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 13 OF 18

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 2023.

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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
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: 15 May 2024

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 14 OF 18

Section 7: Statement of Financial Activities

Section 7: Statement of Financial Activities	Section 7: Statement of Financial Activities	Section 7: Statement of Financial Activities
Unrestricted Restricted Notes Funds Funds £ £ Income and Expenditure Income Donations and legacies 3 295,607 5,000 Total Income 295,607 5,000 Expenditure Charitable activities - Grants and support costs 4 303,909 5,000 Total Expenditure 303,909 5,000 Net income and net movement in funds (8,302) - Reconciliation of Funds Total funds brought forward at 1st January 2023 207,305 - Total funds carried forward at 31st December 2023 199,003 -			Total 2023 £ 300,607 300,607 308,909 308,909 (8,302) 207,305 199,003	Total 2022 £ 355,396
				355,396
				293,479
				293,479
	(8,302) 207,305	- -		61,917 145,388
	199,003	-		207,305

The Notes to the Accounts form part of these Financial Statements

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 15 OF 18

Section 8: Balance Sheet as at 31 December 2023

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	2023 £ 170,563 29,400 199,963 (960) 199,003 199,003 - 199,003		2022 £ 195,641 12,240
	5 6 7
					207,881 (576)
					207,305
					207,305 -
					207,305

ADOPTION RESOLUTION

The attached accounts and statement were approved by the Trustees of the charity on the 13 May 2024

Name: Richard Walton - Chair	Signature:	R W Walton
Name: Samantha Haydon - Treasurer	Signature:	S J Haydon

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 16 OF 18

Section 9: 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 2023. 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 2023 £ £ £ 257,188 5,000 262,188 20,008 - 20,008 17,160 - 17,160 1,251 - 1,251 295,607 5,000 300,607 295,607 5,000 300,607	Unrestricted Restricted Total Funds Funds 2023 £ £ £ 257,188 5,000 262,188 20,008 - 20,008 17,160 - 17,160 1,251 - 1,251 295,607 5,000 300,607 295,607 5,000 300,607	Total 2022 £ 274,757 50,364 30,275 -
			295,607	355,396
			295,607	355,396

THE EDUCATIONAL FRONTIER TRUST, REGISTERED CHARITY NO. 1087070 WWW.TEFT.ORG.UK PAGE 17 OF 18

Section 9: Notes to the Accounts continued

Unrestricted Restricted Funds Funds £ £ 163,999 - 134,908 5,000	Unrestricted Restricted Funds Funds £ £ 163,999 - 134,908 5,000	Unrestricted Restricted Funds Funds £ £ 163,999 - 134,908 5,000	Total 2023 £ 163,999 139,908 303,907 686 3,180 176 960	Total 2022 £ 175,299 112,035
	298,907	5,000		287,334
	686 3,180 176 960	- - - -		2,094 3,180 295 576
	5,002	-	5,002	6,145
	303,909	5,000	308,909 29,400 29,400 960 960 Outgoing Resources £ (5,000) (5,000) (303,909) (308,909)	293,479
	29,400	-		12,240
	29,400	-		12,240
	960	-		576
	960	-		576
Balance at 1Jan 2023 Incoming Resources £ £ - 5,000 - 5,000 207,305 295,607				Balance at 31 Dec2023 £ -
				-
				199,003
207,305 300,607				199,003

8 Other notes

As there are no employees, no employee was paid over £60,000. The Trustees received no remuneration, benefits or expenses in the year (2022 - none). There have been no transactions with persons or entities that are closely connected to the charity or its trustees (2022 - 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