THEIRWORLD
{a charitable company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
Company Number 4422413
Charity Number 1092312

THEIRWORLD
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
CONTENTS
Page
Legal and Adminislralive details
Tru5tees' Report
AudiloT'S Report
Group Statement of Financial Activities
11
Group and Charity Balance Sheols
12
Group Statement of Cash Flows
13
Notes lo the financial statements
14

THEIRWORLD
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 30 NOVEMBER 2020
Trusteos
S Brown
D J Boulcher MBE
L Doughty
B Hewitt
Dr. l Laing
Prof. N Modi
T Sowa CBE lappoinled 30 May 20211
A Weir
Secretary and reglstered address
D. J. Boulcher, Third Floor, The 8roadgale Tower, 20
Primrose Street, London, EC2A 2RS
Company number:
4422413
Charlly number:
1092312
Audltors
Haysmacintyre LLP
10 Queen Street Place
London EC4R 1AG
Bankers
Lloyds Bank
City Office Branch
PO Box 1000, BXI 1LT
SollcStors
Farref & Co
66 Lincoln's Inn Fields
London
WC2A 3LH

THEIRWORLD
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
The Trustees have pleasure in presenting their report and audited financial statements of Ihe Charity and
group for the year ended 30 November 2020. The financial slalemenls have been prepared in accordance
with the accounling polices sel out on pages 14 10 16 and comply with the Cufrent slalulory requirements, the
Memorandum and Articles of Association and Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to chariligs preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191
IChaTilies SORP IFRS 102)), the Financyal Reporting Standard applicable in the UK and Republic of Ireland
IFRS 102} and the Companies Act 2006.
Structure, governance and managemgnt
The company was incorporated on 23 April 2002. It is regi518red with th8 Charity Commission under Ihe
Charities Act 2011 and received its charitabl8 slalus on 31 May 2LKI2.
Management of the ChaTily is by a Board of Directors I'Trustees"l. The Trustees. who hav8 served during
the year and Since the year end, are sel out in this report.
The Trustees are appointed by invitation on lo the Board by existing Tru51eos. On appointment, an induction
is given by an existing Trustee explaining the grant making processes and procedures as well as an overview
ol the administrative procedures employed by the Charity. In addition all new Twslees are given a copy of the
Code of Conduct for a Trustee. explaining in detail their role and re5ponsibililies.
Tru¥teg$
The following were on the Board of Trustees during the year ended 30 November 2020 and lo the dale of this
report unless as otherwise 8laled'.
S Brown
D J Boulcher MBE
L Doughty
B Hewitt
Dr l Laing
Prof. N Modi
T Sowa CBE (appointed 30 May 2021)
A Weir
ObJectSves and actlvlties
The governing documont of the ChaTlty is ils Memorandum and Articles of Association dated 22 April 20D2.
This sets out the objects of the char¢ly which are principally the relief of poor OT infimi children and young
people and the advancement ofthe education ofchil(iren and young people. The TTuslees continue lo support
fLtndraising for an awareness of some of the mo$1 exciting and innovative charity ventures for children.
Grant making policy
During the year ended 30 November 2020 the Trustees adopted a grants policy pursuant to which the Charity
will Priorilise projects relating to the health. education and welfare of child¥en an(J young people.
Activlties and performance for the publlc beneflt
The Trustees contirm that they have had due regard to the Charity Commission guidance and this report sets
out a summary of the work of the Charity in furtherance of the public benefit.
The Charity has maintained ils focus on the improvement for children and young people in early years, safe
schools and youth skills as il reaches the midpoint of the Current slfalegic plan 12020-221. Alonggide this
commitment, Theirworld also adapted ils activities lo accommodate the impact of Ihe Covid-19 pandemic lo
protect staff and to enable project work and campaigns lo continue successfulty.

THEIRWORLD
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
During this year, the Theirworld Edinburgh Birth Cohort ITEBCI completed ils fifth year of the first fwe-year
cycle as a highly contextual longitudinal study looking al childhood with a specific focLts on the mechanisms
of perinatal diseases. and the biological and environmental consequences of premature birth. The study is
led by Professor James Boardman, Scientific Director of the Jennrfer Brown Research Laboratory al the
Universily of Edinburgh's MRC Centre for RepToducllon Health with the ex￿lIent support of ils expertAdvisory
Board and the reseaich and adminislralive staff based in the Queen's Medical Research Inslitule. The impact
of Covid-19 was reported as minimal by Professor Boardman as the research and data analysis was
successfully moved online, and cohort reciuitmenl was able to continue after a short pause. Additionally. th8
Jennifer Brown Research Laboratory al80 completed the Slfess Responso Systems in Mothers and Infants
project during 2020. The Office of Gordon and Sarah Brown generously contributed lo the work of the Jennifer
Brown Research Laboratory during the year.
Theirworld reviewed its advocacy agenda and campaigns during 2020 to align with Ihe realities faced by
communities and countries around the world responding to the Covid-19 pandemic. The new 'Unlock Big
Change, policy agenda leilerales the Charity's commitment to the best start in life, a safe place to learn, and
skills forthg future, outlining tangible advocacy ouleomes that would make a difference for millions of children.
The Omnicom Group continued lo provide considerable pro bono support as part of ils commitment lo the UN
Sustainable Development Goal 4110 support education for all) and provide cfeative and promotional seNices
for the campaigns all year long to reinforce the policy agenda.
With the support of the Conrad N Hilton Foundation. TheiTh¥orld led a campaign in Kenya to secure 10% of
education budgets be directed lo ear5y years. also adapting its activities in the wake of the pandemic from
attendance at public meetings and hearings lo media opportunities and the production of a scorecaTd. In
Lebanon. Theirworld began a new eafly years. partnership with SKILD that ha5 been very fruitful in developing
wide reaching pre-early childhood education classes with the benefit of research from Notre Dame University-
Louaize and Harvard University-
Children and Young People continue lo be front and centre of the drive lo end the global education crisis, and
Theirworld completed a full review of all current Global Youth Ambassadors and new applicanls. By the year
end, the Charity had 975 active members ofthe programme. The The1￿0{1d Global Youth Ambassadofs have
been heavily engaged in learninu about the global education cr6sis, leading campaign activities in their
communities and participating in events to spread the word about the imt)ortance of investing in education.
Wf(h the abrupt impact on educalion for more than 1.5 billion children worldwide, Theirworld conducted a full
partnership review with all of ils projects to make adjuslmenls lo programming lo address the nalufe of
education and learning during the crisis. In solidarily with parents coping with home schooling, the Charity
created a #SlillLearning campaign with children's illuslralor and Theirworld Ambassador Nick Sharrall asking
children to draw a self-portrail. adding details of where there were living and learning during lockdown. Images
of pictures have been shared by children ffom all over the world on social media.
In response to the current pandemic. Theimorld reached out and solicited ideas from ils current partners and
stakeholders. As a result of these Gonversalions Theirworld commilled £131,530. In funding for nine new
pfojecls across Lebanon, Turkey, Greece. Nigeria. Kenya. Uganda and Tanzania. Most of the projects
provide support lo vulnerable learne¥s who were out of school due to SGhool closures. Due lo the natijre of
the Covid 19 virus, most of the Projects ft)cused on distance learning and developing and distributing materials
to learners and their families. many linked to refugee settings. Through these initiatives, more than 20.000
learners were reached with direct programming 2nd the digital learning materials in Lebanon. Turkey and
Greece were accessed more than 560,000 limes.

THEIRWORLD
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
The Trustees of Theirworld would like lo thank the continued support of the Nalionale Poslcode Loterij {NPL),
who gianled É1,350.000 lo the charity in 2020 as part of their current three-year commitment. During the
same year, Thoirworld recewed an additional grant of É1.350.000 from the NPL (Dutch Postcode Lotleryl to
invest in the Covid-19 education response for approximately 18.900 refugee children in the country in
partnership with Education Cannot Wail and UNICEF al a learning centre on the island of Lesvos, Greece.
We were devaslaled lo learn the news of the terrible lire that destroyed the Moria Camp in Lesvos where
13,000 people lost their temporary homes, and our nearby education centre was made available lo provide
shelter for unaccompanied children, and later to vulnerable mothers and babies. While the learnin9 activities
al the centre were on hold for much of the year, Theirwortd ir4vesled considerable time and effort lo pursuing
the political commitment and funding to secure ongoing refugee education provision for all children arriving
on the Greek islands. In June 2020 Theirworld published its Greek refugee report authored by Maysa Jalboul
enlilled Finding Solutions lo Greece's Refugee EduCat￿n Crisis a call lo action which was circulated widely
to decision-makers and opinion-formers.
Since early 2019 Theirworld became a Direct Beneliciary of the People's Postcode Lollery {PPLI and as a
result regislefed with the UK Gambling Commission as a Promoting Society and licenced PPL UK lo run
lottery draw on behalf of Theirworld Projects. The resulting increased funds enabled Theirworld to expand ils
Code Clubs and Skills for the Future Clubs programmes as well as support ils campaigning investment lo
Unlock Big Change lo drive increased global educalion tinancing. As a result of furthei changes al PPL UK.
il was agreed that during the 2020-21 Financial Year Theirworld would return lo being a Regular Beneficiary
of the People's Poslcode Lottery, making applications to a charitable trust, and cease to be regislered with
the Gambling ComMiss￿n
Theirworld has continued lo work on the joint initiative with the Edinburgh Business School al Heriol Watt
University. to olfer Iwenly full scholarships for refugees and Lebanese nationals living in Lebanon lo provide
an opportunity lo study for an online Master of Business Adminislralion degree. The earfy results have so far
been excellent with well above average exam results.
Al our International Women's Day event in Maich 2020 we honoured former Nigerian Finance Minister land
now Director General of the World Trade Organisalionl Ngozi Okonjo-lweala for her work in children's health
and education. The award was presented by Theirworld advisory board member June Sarpong OBE. In
September 2020, Theirworld arid the Global Business Coalition for Education jointly hosted a series of
discussions and panel evenl8 with high level speakers as part of our annual activities lo coincide with the
United Nations. General Assembly. These events were moved to digital platforms lo view remotely, and
attracted lar larger audiences that usual as a result making up for the loss ol the live events.
Trustees have appfoved £56,646 in Small Grants in the year lo seven organi88lions.. Action for Education.
The Butterfly Tree, Bognor Regis Youth Town FC, Chinansungwi Relief Hand Organisation, Edinburgh Direct
Aid, Youth and Women for Opportunities Uganda and The Zoe Sarojini Education Trust. Reports from Small
Grant recipients were circulated lo supporters, and included updates on the progress of funding for a new roof
and classrooms for orphans and vulnerable children in Malawi, and a grant lo Edinburgh Direct Aid to fund
the Fulufe Syfia Primary School in a refugee camp in the Bekaa Valley. Lebanon.
The Trustees of Thei￿orld weie pleased lo note that the financial protocols for both TheiNorld and Ihe Global
Business Coalition for Education meantwe did not need lo receive any government furlough funding and were
able lo keep all our staff in full employment throughout the year. Theirwortd insliluted remote working policies
from 13th March 2020 in response lo Covid-19. All staff were provided with the equipment they needed and
the support lo work effectively, and staff training and wellbeing sessions lo support Working from Home and
good Mental Health were provided regularly. A staff survey on Covid-19 was conducted lo determine the
implications foi everyone's ability lo work from home and our broader missron, and adaplalions pul into place.
The Charity held a global town hall with all staff to share the results, update them on pro9ress. share ideas
and insights.

THEIRWORLD
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
The Global Business Coalition for Education IG8C-Educalion). a movement of businesses commilled lo
ending the global education crisis. is a US registered corporation with exemption from Federal Income Tax
under section 501{Cll3} of the Internal Revenue Code. Theirworld is the founding and sole member. Since ils
formation nine years ago GBC-Educalion has ¢onlit)ued lo expand its membership, build ils youth skills
programme. conduct research, connect companigs lo opportunities lo support Schools around the world. and
generate tools and resOur￿S to impTove the business community's contribution to education.
The Trustee5 would like to thank fellow Trustee and Chair. Saiah Brown for her continued support and
leadeiship of Theirworld, as well as Gil M¢Neil CBE.. Director. Konrad Caulkett, Grants and Finance Director,
Justin van Fleet, President and all the team for their hard Work during the course of the year. for which the
Trustees are extremely grateful.
The Trustees would like to thank the members of the Theirworld Advisory Boafd for their support and express
their gratitude lo the Ambassadors who contribute their lime and support lo Theirworld's campaigns and
advocacy work lo ensure that il gains greater prominence. Particular gratitude is shown lo Nisha Parti, Mel
Varley and Karen Wagner for this seNice on the Advisory Board as they stepped down after several years,
eommilmenl, and the Trustees welcome Audley Harrison MBE who has joined the advisory board this year.
The Trustees would also like to thank Sarah Brown. David Boulcher MBE. Edward J Eslfada, Dr Lisa Belzberg
and Joyce Malomb8 for their seNice on the GBC-Educalion Executive Board.
The Trustees would also like to thank the following organisalions who have geneTously supported the work ol
Theirworld, Aslley Clarke, Dubai Cares, Conrad N. Hilton Foundation, the Nalionale Poslcode Lolerij. The
Office of Gordon and Sarah Brown. Omnicom Group. Open Society Foundation, Players of People's Poslcode
Lottery, Reed Smith. and Valvona & Crolla, and those Organisations who have supported the WOTk of GBC-
Education, Allas5ian Foundation, BHP Foundation. Dangote Foundation, Dell. Deloitte. HP. Intel and KPMG.
Plans for the Futuro
We will continue to work lo end the global education crisis and unleash the potential of the next generation.
Our mission is to ensure Ihal every child has the best start in life, a safe place lo learn and skills for the future.
We have completed the second year of a three-year Strateg￿ plan and will continue with these priorities in tha
coming year. We will also work lo create our next strategic goals and look ahead to plans that celebrate the
Charity's 201h anniversary in 2022. The current strategic objectives are..
Sel agenda8 - Our pollcy and research will bring foN4ard the most relevant evidence lo expose gaps in
delivering opportunity and sel the bar higher for governments and the international community lo deliver
results for the next generation.
Forge Powerful Partnerships - we will combine the power and know-how of young people, the business
community, civil society, philanthropists, campaigners, and academia, working together in new ways.
Campaign and innovate - We will mobilise our networks lo lake on the next barrier standing in the way of
opportunity for young people. We will also deliver on-the. ground piojecls to solve challenge5 facing the most
marginalised young people
including newborns. refugees, children with disabililies and girls
and
collaborate with partr¢ers to expand what works.
Deliver Impact - We will deliver Iransfomialive results which transcend the work of any single organisalion
lo unleash sustainabte and scalable change.
As the ongoing impacts of the Covid-19 pandemic continue lo emerge. we will develop new projects lo help
thousands of children, including improved distance video learning materials and the provision of educational
home activities for children with learning differences and Special needs. We will continue to support and
protect the Charity team as they WOTk from home within Ihe pandemic lockdown and provide relevant training
and guidance lo adapt to new working praclices as we relufn lo our ofliees. We will continue lo focus on
securing new sources of grant funding and donor support, lo ensure we remain in a strong financial position,
which will allow us lo respond swiftly to new any new circumstances as they arise,

THEIRWORLD
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 NOVEM8ER 2020
We will invest in our new programmes to develop an online resource, The Key, to highlight Ihe relevant and
impact of edUcat￿n investment lo all 17 of the United Nalions, Sustainable Development Goals.
We will develop Theirwoild's new piaclical guide for policy makers and financing decision makers, the
Education Finance Playbook summarisethe headlinefigures and draw on many reports by our colleagues and
peer organisalions working to support governments around the world- particulaTly in lower-income countries
fund and deliver eclucalion.
We will further invest in our online tools with a new website. digital resources. and communications lo support
our staff, wider team, external partners. and our Global Youth Ambassadors and expect lo see these come lo
fruition in our 201h anniversary year of 2022.
Following the protests around the world of 2020, Thei￿orld and the Global Business Co81ilion for Education
will continue ils own internal efforts to hold open discussions about current events. racial equality and what
more we can do in addition to our standard policies on non-discriminalion and irbclusion. While the Charity
does not have Ihe answer," we have agreed that education is a tool for equity in our programmali¢ work and
will continue to try lo find new ways lo support and act on the anli-racism agenda. We will also continue our
policy of not using unpaid interns as part of our commitment lo ensure equal access lo opportunity for
everyone, not just people who can afford lo work for free.
Theirworld h88 been fortunate lo have built and grown some sliong relationships which continue lo develop
to support the aims of the Charity. Theirwoild continues lo benofit from legal support and office space in
London and New York and other pro-bono seNices from the global law fim) Reed Smith. TheI￿Or1d has
renewed ils commitment lowork with the Omnicom Group for a further Ihreo years lo provide communications
support for our campaign and advocacy work. We are gfaleful for the slrenglh of commitment from Players
of People's Poslcode Lollery and the Nalionale Poslcode Lote¥ij and our conslruclive relationship with the
team al each organisalion who help us share ourwork. We are also extremely graleful to all the organisations
and individuals who raise funds. lend their voice. and contribute to the ongoing work of the Charity.
Our internal team and exiernal supporters combine lo create the opportunity for Theirworld to foctss on ending
the global education crisis and lo unlock big change for babies. children. young people, and their families.
Flnanclal rovlew
Total income for the year was £8.567,82412019 - £9,806,189) with total expenditure of £5,869.182 (2019 -
£6.887,572). Funds held increased by £2.653.82112019- increase of £2.954,794).
Unfeslricled funds held ale £1.305.346 12019 - £833.4091 with reslficted funds at £6.951,806 12019
£4,769,922) this figure includes £98.771 (2019: £169.4371 for the Jennifer Brown Research Laboratory,
£6.059,293 {2019.- £4.158,6761 for the Global Education campaign, and £793.742 12019.. £441.8091 for the
Global Business Coalition for Education.
Theirworld is reliant on voluntary donations received and receipts ffom fundraising evenls, as well as grants
made by Trusts and Foundations. These funds are held in bank deposit aCco￿nIS so as to obtain the best
available rates of inlerest and mitigate investment risk.
The fundraising events during the year generated funds of £27.82112019'. £69.3191, which have been trealed
as unreslricled income in the financial slalemenls. The Trustees are not aware of any restrictions placed on
Ihi$ income but are mindful that certain individual donors may have consKlered that their donation would be
sed lo support the Jennifer Blown Research Laboratory or Global Education projects. As slated in the
Reserves Policy note below, in considering futur8 grants lo the University of Edinburgh Development Trust foi
the Jennifer Brown Research Laboratory or for Global Education. the Trustees will have access lo the excess
nrestricted funds.

THEIRWORLD
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
Reserves pollcy
The Trustees aim to keep reserves lo a minimum. in excess of ongoing grant commitments, in order lo
ensure that most of the income generated is distributed. The Charity operates on minimal overheads with
some services and facilities provided ffee of charge. A reserve will be maintained lo cover unforeseen
costs. Total reserves al 30 November 2020 amounted to £8,257,152 {2019'. £5.603,3311 of which
£6,951,806 are reslricled12019.. £4,769.9221 and £18,143 are held in fixed assets (2019.. £4.0341. This
leaves unTeslricted genèral funds. being unrestricted funds lèss unrestricted fixed assets, of £1,287,203
(2019.. £829,375). The Trustees conlinue lo review the level ol ffee reserves held and. will look lo hold
balance to maintain core cash flow for a period of nine months. Any unreslricled reseNes in excess of this
will be donated to the University of Edinburgh Development Trust for the benefit of the Jennifer Brown
Research Laboratory and to ongoing Global Educalion and project work.
Fundral$lng
The Trustees have regularly reviewed the requirements of the Fundraising Regulator, and the decision was
taken by Ibe Trustees lo regislerthe charity with the Fundraising Regulator in 2019. No complaints have been
received in respect of the ChaTily's fundraising aclivily. The ChaTlty does not utilise professional fundraisers
or commercial participators, though the Trustees note that Theirworld Projects Limited was the fecipient of
lollery funds lun by the People's Poslcode Lollery until December 2020.
Pay pollcy
The Trustees consider the Board of Trustees and the Leadership Team comprise the key management
personnel of the charity in charge of directing and controlling, running and opefaling the Charity on a day lo
day ba818. All Trustees give of their lime freely and no Trustee received remuneration in the year. Details of
Trustees. expenses, whiGh are nil. and related party Iransaclions aro disclosed in note 10 to the aceounls.
The pay of the Directors and all staff are Teviewed annually and normally increased in accordance with
average earnings lo reflect a cost of living 8djuslmenl. In view of the nalure of the charity, the charity
benchmark against pay levels in similar chaTilies. The remuneration bench-marf(15 the mid-point of the range
paid for similar roles in Similar charities and sizes.
Rlsk management
A risk a88essment has previously been undertaken and the Pfincipal iisks associated with the Charily's
aclivilie5 have been identified and assessed. The Trustees are satisfied Ihal adequate reporting structures
and procedures are in place lo manage the r15ks associated wilh the Charily's aclivilies. An assessment of
these risks is undertaken each year. The piincipal risks and uncertainties identified are ongoing fundraising
challenges and effective monitoring and evaluation of local partners who work on overseas projects.
Statement of Trustees, responslbilitlos
The TFuslee$ are responsible for prepafing the Report of tho Trustees and the financial slalements in
accordance with applicable law and United Kingdom kcounling Standard8 Iuniled Kingdom Generally
Accepted Accounting Practice).
Company law requires the Trustees lo prepare financial slalemenls for each financial year which give a true
and fair view of the slate of affairs of the charitable company and group and of the incoming resour￿5 and
application of resources. including the income and expenditure, of the ¢hari18ble group for that year. In
prepaiing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP.,
make judgments and eslimales that are reasonable and prudent.,

THEIRWORLD
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
slate whethei applicable UK Accounting Standards have been followed, subject to any malefial
departures disclosed and explained in the tinancial slalemenls,. and
prepare the financial statements on the going concern basis unless il is inappropriate lo presume that
the charitable group will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the charitable group and enable them lo ensure Ihal the financial
slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company. and the group. and hence fortaking reasonable steps forthe prevenliors and detection
of fraud and other irregularilie5.
Audltors
All of the currenl Trltslees have taken all steps that they oughl lo have taken lo make themselves aware of
any information needed by the Charity's auditors for the purposes of their audit and to establish that the
auditors are aware of that infonnation. The Trustees are nol aware of any relevant information of which the
auditors ale unaware.
Haysmacinlyre LLP have expressed their willingness lo continue in office and a resolution to re-appoint them
will be Proposed al the annual general meeting.
In preparing this Trustees, ieportadv?nlage has been laken of the small companies, exemption from preparing
a sl¢ate9ic report.
On behalf f the Board
O J Boutcher
Secretary and Trustee
Date. IS f Itsll

INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THEIRWORLD
Opinion
We have audited the financial slalemenls of Theirworld for the year ended 30 November 2020 which comprise
the Group Statement of Financial Aclivilies. the Group and Charity Balance Sheets. the Group Slalemenl of
Cash Flows. and notes to the financial statements, including a summary of Signif￿a￿l accounting policies.
The financial reporting framewoTk that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting
Slandard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounling
Practice).
In our opinion. the linancial statements-.
give a true and fail view ol the state of the group's and of the parent charitable company's affairs as al
30 November 2020 and of the gTQUP'S and parent chaTilable company's nel movement in funds,
including the income and expendilufe. for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice: and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS {UK)} and
applicable law. Our responsibilities under those standards are further described in IheAudilor's responsibilities
for the audit of the financial slalemenls section of our report. We are independent of the group in accordance
with the ethical requirements that are relevant lo our audit of the financial stalements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical Tesponsibililies in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropiiale to provide a
basis for our opinion.
Responsibilities of Trustees for the financial statements
As explained more fully in the Trustees, responsibilities slalemenl set ovl on pages 7 and 8, the Trustees
Iwho are also the Directors of the charitable Company for the purposes of company lawl ale responsible for
the prepaialion of the financial statements and for being satisfied that they give a true and fair view. and for
such internal conlfol as the Trustees determine is necessary to enable the preparation of financial statements
that are free from material mis51alement. whether due to fraud or error.
In preparing the financial slalements, the Trustees are responsible for assessing the group's and the pafent
charitable companls ability lo continue as a going concern, disclosing. as applicable. matiers related to going
con￿r￿ and using the going concern basis of aeeounting unless the Trustees either intend to liquidate th8
group or the parent charitable Company oi lo cease operations, or have no realistic alternative bul lo do so.
Audltor's responsibilities tor the audit of the flnanclal statoments
Our objectives are lo obtain reasonable assurance about whether the financlal statements as a whole are free
from material misstatement, whether due to fraud or error, and lo issve an audrtorfs report that includes our
opinion. Reasonable assurance is a high level of assvrance, but is not a guarantee that an audit conducted
in accordance with ISAS IUKI will always delect a material misstatement when il exisis. Misstalements can
ar6se from fraud or error and are considered material if, individually or in the aggregate, they could reasonably
be expected lo influence the economic decisions of users taken on the basis of these financial slalemenls.
A further descriplion of our fesponsibililies for the audit of the financial slalements is located on the Financial
Reporting Council's websf(e at.. m￿.fr¢.org.uk1?UdiI0r$resp0n$1b1lI1les. This description forms part of our
audilorfs report.
Concluslons relating to going concern
We have nothing to report in respect of the follcwjing mallers in relation to which the ISAS (UK) requiTe u$ lo
report lo you where.
Ihg Trustees, use of the going concern basi5 ofaccounling in the preparation of the financial statements
is not appropriate., or
the Trustees have not disclosed in the financial statements any identified material uncertainties thal
may cast significant doubt about the group's or the parent charitable company's ability to continue lo
adopt Ihe going concern basis ol accounting for a period of at least twelve months from the dale when
the financial slalemenl8 are aulhorised for issue.

INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THEIRWORLD
Other Information
The Trustees are responsible for the other infoTmalion. The other infomialion comprises the informalion
included in the Trustees. Annual Report. Our opinion on the financial statements does not cover the other
information and. excepl lo the exlenl otherwise explicitly slated in our report, we do not express any form of
assurance conclusion Ihereon.
In conn&tion with our audit of the linanci8181alements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsislenl with the financial siatemenls or
our knowledge obtained in the audit or olhetwise appears lo be materially mi5slaled. 11 we identify such
material inconsistencies or apparent material misslalemenls, we are requifed to determine whether there is a
material misslalemenl in the financial statements or a material misslalement of the other information. If. based
on the work we have performed, we conclude that there is a material misstatement of this other information,
we are required lo report that fact. We have nothing lo report in Ihis regard.
Oplnlons on other matters prescrlbed by tho Companie5 Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees. Annual Report (which includes the Directors, report prepared for
the purposes of company law} for the financial year for which the financial statemonls are prepared is
consistent with the financial $talemenls.' and
the Directors. report included within the Trustees, Annual Report have been prepared in accordance
with applicable legal requirements.
Matters on whlch we are rgqulred to report by excoptlon
In the light of the knowledge and understanding of the group and the parent chaiilable company and its
environment obtained in the course of the aLtdit, we have not idenltfied material misslalements in the Trustees,
Annual Report (which inwrporales the strategic report and the Directors, report).
We have nothing to report in respecl of the following mall8TS in relation lo which the Companies Act 2006
requires us lo report lo you if, in our opinion-
adequate aceounling records have not been kept by the parent charitable company: or
the parent charitable company financial slalemenls are not in agleemenl with the aCc(￿nting iecords
and returns." or
certain disclosures of Trustees. remuneration specified by law are not mad8-, or
we have not teceived all the infoTmalion and explanations we require for our audit.. or
the Trustees were not enlilled lo prepare the financial slalemenls in accordance with Ihe small
companies, regime and lake advanlage ofthe small companies, exemptions in preparing the Trustees.
report and ffom the requifement to Prepare a sliategic report.
Use ofour report
This report 15 made solely lo the ch8Titable company's members. as a body, in accordance with Chapter 3 of
Part J6 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the
charitable company's members those matters we are required to state to them in an Auditor's report and for
no other purp08e. To the fullest extent permiited by law. we do not a¢￿p1 or ossume responsibility lo anyone
other than the charitable company and the charitable companls members as a body, for our audit WOTk. for
this report, or for the opinions we have fomied.
Steven Harper ISenioT Slatulory Audilorl
For and on behalf of HaysmaGinlyfe, Statutory Auditors
10 Queen Street Place
London
EC4R 1AG
Dale.. 13 August 2021
10

THEIRWORLD
GROUP STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatlng Income and expendlture account)
FOR THE YEAR ENDED 30 NOVEMBER 2020
Note
Unrestrlcted
funds
Restrlcted
funds
2020
2019
Income from:
Donations
Olhef trading activities and
fundraising events
Inve8lmenls
457,131
5,452,065
5,909,196
7,930,027
29.129
34.689
2,594,810
2,623,939
34,689
1,853,675
22,487
Total Income
520,949
8,046,875
8,567,824
9,806,189
Expenditure on:
Cost of ralsing funds
Cost of raising donations
Fundraising trading: cost of
goods sold and other costs
45.222
45.222
59,199
1.358
1.358
Charltable actlvltles
111.313
5.711.289
5.822,602
6,828,373
Total expendlture
112.671
5,756,511
5,869,182
6,887,572
Net income for thg yoar
408.278
2.290,364
2,698.642
2.918.617
Transfers
Exchange Ilosses}Igains arising
on consolidation
17
63.659
{63.659}
(44.8211
144.821)
36,177
Net movement In funds
471,937
2.181,884
2,653,821
2.954.794
Fund balanGes brought fo￿ard
833,409
4.769.922
5.603.331
2,648,537
Fund balan¢e$ carr19d forward
1,305,346
6,951.806
8,257.152
5,603,331
All the above results are derived from continuing aclivilies. There wefe no recognised gains or losses other
than those slated above. The notes Set out on pages 14 to 26 form an integral part of Ihese financial
slatemenls. A comparative Slalemenl of Financial Aclivil¢es 18 included at note 20.
11

THEIRWORLD
GROUP AND CHARITY BALANCE SHEETS
FOR THE YEAR ENDED 30 NOVEMBER 2020
Company number: 4422413
Note
Group
2020
Group
2019
Charity
2020
Charlty
2019
FSxed assets
Tangible fixed assets
Investments
13
14
18.143
4.034
5.567
4.034
18,143
4,034
5,568
4,035
Current assets
Debtors
Cash at bank
205,128
8.267.717
939,171
5.637,196
162,859
6,974.256
728,663
4,874,284
8,472,845
6,576,367
7.137,115
5,602,947
Credltors: amounts falllng due
wlthln one year
16
233.836
977,070
76,343
828,534
Net current assets
8,239.009
5,599,297
7,060.772
4,774.413
Total assets less current Ilabllltles
8.257.152
5.603,331
7.066,340
4,778.448
Accumulated funds
Reslricled funds
Unrestricted funds
17
6,951,806
1.305.346
4,769,922
833.409
6,448,380
617.960
4,328,113
450.335
8,257.152
5,603.331
7.066,340
4,778,448
A separate slalement of financial activities {SOFAI and income and expenditure account are not presented
for the charity ilself following the exemption afforded by section 408 of the Companies Act 2006. The
unconsolidaled surplus of Ihe parent charity was £2,287.89212019: surplus of £2,490.1151.
The financial statements are prepaTed in accordance with part 15 of the Companies Act 2006 in regards lo
Small companies. These financial statements have been prepared in accordance with the provisions
appliGable lo enlilies subject to the small companies. regime.
These financial slalements were approved by the boaid, signed on their behalf by and aulhorised for issue
on
DJBO
her
Secretary an
Trustee
The notes sel out on pages 14 to 26 fom an integral part of Ihese financlal statements.
12

THEIRWORLD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2020
2020
2019
Cash flows from op9rating actlvltles
2,659,361
3,012.364
Cash flows from Investing activitles
Interest it)come
Purchase of tangible fixed assels
34.689
{18.708)
22,487
(3,0801
Cash provided by (used In) Investing actlvitie5
15.981
19,407
Change In cash and cash oquivalents in the reporting perlod
2.675,342
3,031.771
Cash and cash equivalents al the beginning of the year
5.637.196
2,569,248
Change in cash and cash equivalents due to exchange rate
movements
(44,821)
36,177
TOTAL CASH AND CASH EQUIVALENTS AT THE END OF
THEYEAR
8,267,717
5.637,196
RECONCILIATION OF NET INCOME TO NET CASH
INFLOW FROM OPERATING ACTIVITIES
Ngt In¢omB for the year
2,698,642
2,918.617
Add back deprecialion charge
Deduct interest income shown in investing activities
Decrease l(inereasel in debtors
Increase Ildecfease) in creditors
4.599
134,689}
734,043
(743,234)
4,440
{22,4871
{785,5801
897,374
Net cash generat9d by Opgrating activitie5
2,659,361
3,012,364
All cash and cash equivalents were held as cash al bank and in hand in both the curient and prior year.
13

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key 80urces of eslimalion uncertainty in the
prepaialion of the financial statements are as follows.
Basis of prnp8raI￿n
The financial statements have been piepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charrties preparing their accounts in accordance wilh
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (Second
Edition. effective 1 January 2019) (Charities SORP {FRS 102}I, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Theirworld meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially
recognised al historical cost orlfansaclion value unless othernise slated in the relevant accounting policy
note{s}.
Prnparalion of accounts on a going concem bas
The Trustees consider there are no material uncertainties about the ChaTily's ability lo continue as a
goin9 concern. The Tfuslees have considered the impact of the Covtd-19 pandemic in making this
assessment. The Trustees havo considered the impact on the budgets and cash flow forecasts prepared
and, following this review, remain satisfied that the Charity remains a going concern for a period of at
least one yearffom the date these accounts were approved. The review ofour financial position, reserves
levels and future plans gives Trustees confidence the charity remains a going ¢on¢ern for the foreseeable
f￿ure.
crilic818ccounling judgements and estimates
In preparing these financial statements, management has made judgements, e81imale8 and assumptions
that affect the application of the charities accounting policies and the reported assets, liabilities, income
and expendilure and the disclosures made in the financial slalements. Eslimales and judgements are
continually evaluated and are based on historical experience and other factors. including expectations of
future events that are believed lo be reasonable under Ihe circLFmstan¢es.
GIDUP fin8nci81 stalom&nls
These financial statements consolidate the results of the charity and its wholly owned subsidiaries,
Theirworld Projects Limited and Global Business Coalition for Educalion. Inc. on a line by line ba818.
Fund accounting
Fun(6s held by the ¢h?fity are either..
Unrestricted general funds these are funds whiGh can be used in accordance wilh the Gharilable
objects al the discretion of the Trustees.
Reslricled funds- these are funds that can only be used for particular restricted purposes within the
objects of the charity. Reslficlions arise when specified by the donor or when funds are raised for
particular restricted purposos.
14

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
1 Accountlng pollcles (conlinued)
Income
Income is recognised when there is enlillemenl lo the income. receipt is probable and the amount
concerned can be accurately measured.
Voluntary income artses as follow5- _
Donalions and grants are included in unrestricted income when these are receivable, except as
follows..
When donors specify that donations or grants given to the charily must be used in future
accounting periods, the income is deferred until those periods.
When donors specrfy that donations or grants are for particular reslricled purposes, which
do not amount lo pre-conditions regaiding entitlement. this income is included in inGome of
reslricled funds when receivable.
Membership fees received by Global Business Coalition for Education. Inc. afe
recognised on an accruals basis.
Trading income is recognised in th6 period in which the goods are delivered or the service
provided.
Donated selvices and facilities have been included in the accounts within voluntary income lo
the extent that they are material in the context of the accounts. Donated services and facilities
are included within the accounts al an assessment of the value lo the charity, which reflects the
value that the charity ascribes lo the service or an appropriate alternative which would be
purchased in the absence of the donated service.
Lollery Income Is lotteries held by People's Poslcode Lottery IPPL). Theirworld Projects Limited
has no ability lo aller the price of tickets, determine the prizes or reduce Ihe management fee.
PPL is the acting principal for these draws. Nel proceeds received are recognised within lolleiy
income in the Statement of Financial Aclivi(ies. The analysis of the Proceeds is detailed in notg
Expendilure
Expenditure is accounted for on an accruals basis.
Grants payable are recognised as expenditure in the year in which a binding commitsnenl lo make
payments is entered into.
Support costs represent the cost of providing general management, human resources, financing and
other serviees to the charity. They are sel out irb nola 5 and they have been allocated on Ihe basis of
the level of grant and difect expenditure incurfed.
Govemance cos18 comprise all costs involving public aecounlability of the chaTily and its compliance with
regulation and good practice. Governance costs are shown a8 a component of support costs.
Fixed asset inveslments
Listed investments are slated at market value al the balance sheet dale. The SOFA includes the net
gains and losses arising on fevalualions and disposals throughout the year.
15

THEIRWORLO
NOTES TO THE FINANCIAL STATEMENTS l¢ontinued}
FOR THE YEAR ENDED 30 NOVEMBER 2020
1 Accountlng pollcles (conlinu8d)
Foreign currency translafion
Foreign currency transactions are Ifanslaled into sterling al the rates ruling when they occurred. Foreign
eurrency monetary assels and liabilities are translated al the rates ruling al the balonce Sheet date. Any
differences aro taken to the statement of financial aclivilies.
Results of overseas operations are translated 81 the average rates of exchange during the year and the
balance sheet translated into sterling al the rale of exchange ruling al the balance sheet dale. Exchange
differences which arise from the translation of the opening net assets and results of foreign subsidiary
undertakings are taken to the statement of financial aclivilies.
Financial in&lnim8nls
The charity only has financial assets and linancial liabilities of a kind that qualify as basic financial
inslrumenls. Basic linancial inslrumenls. including trade and other debtors and creditors are initially
recognised al transaction value and subsequently measured at their settlement value.
Debtott¥
Trade and other debtors are recognised at the settlement amount due after any trade di8count offered.
Prepayments are valued al the amount prepaid nel of any trade di8counls due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highty liquid investments wlth a short
maturity of three months or less from the date of aequisilion or opening of the deposit or similar account.
Creditors andpmvisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the Iransfer of funds to a third party and Ihe amount due to sellle the
oblig81ion can be measured or eslimaled reliably. Creditors and provisions are normally recognised at
their selllement amount after allowing for any trade discounts due.
2 Charitablg company status
TheI￿Or1d is a charitable company limited by guarantee and registered in England and Wales. Ils
registered ad(Jress is Third Floor, The Broadgale Tower, 20 Primrose Street. London. EC2A 2RS. The
charitable company does not have a share capital and Ihe liabilities of its members are limited to the
guarantee of up lo a maximum of £1 each.

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS Icontlnuodl
FOR THE YEAR ENDED 30 NOVEMBER 2020
Income
Unrestrlcted
funds
Restricted
funds
2020
2019
Donations
Donated off￿e spa
Donated Communications
Lottery income (note 41
Fundraising events
Trading
Inve51menls
407,131
50.000
4,985,851
5,392,982
50,000
466.214
2.594.547
27,821
1,571
34.689
7,245,455
50.000
634,572
1.779,705
69,319
4,651
22.487
466,214
2,594,547
27.821
1,308
34.689
263
520.949
8.046,875
8,567.824
9,806,189
Prlor year:
Unrestrlcted
funds
Restrlcted
funds
2019
Donations
Donated office space
Donated communic81ions
Lottery income {nole 4)
Fundraising events
Trading
Investments
31.099
50.OOQ>
7,214,356
7.245.455
50,000
634,572
1.779,705
69,319
4.651
22,487
634.572
1.779,705
69.319
4,651
22.487
177,556
9.628.633
9,806.189
As shown above. a gift in kind has been recognised in respect of donated eommunications. This relates
lo pro-bono communications, branding and media support for global education campaign activities. The
corresponding expenditure is shown as part of direct charitable aclivilies. In line with the requirements
of the SORP. the value ascfibed to the donated communications reflects the value which the Trustees
would have been willing lo pay lo procure equivalent services.
Lottery Incomè
Thei￿orld Projects Limited received income from lotleri8s held by People's Poslcode Lollery. An
analysis is provided below
2020
2019
People's Postcode Lottery lickel value
People's Poslcode Lottery prize fund
People's Poslcode Lottery management fee
8,107.958
{3,243.1831
(2,270,228)
5,561,579
{2.221,6311
(1,560,243)
2,594,547
1.779.705
17

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS Icontlnugd)
FOR THE YEAR ENDED 30 NOVEMBER 2020
Cost of ralslng Incom8
Unrestrlcted
Funds
Restricted
funds
2020
2019
Cost of raising donations
Tiading subsidiary expenditure
45.222
45,222
1.358
59.199
1.358
1,358
45,222
46.580
59,199
ost of ralslng Income - 2019
Unrestrlcted
Funds
Restricted
funds
2019
Cost of raising donations
Trading subsidiary expenditure
6,286
52,913
59,199
6.286
52,913
59.199
Charltable actlvltles
Dlrect
charltable
expendituro
Support
costs
(note 81
Grant
payments
Total
2020
Total
2019
Children's health
and welfare
Global Education
410,796
3.284,823
410.796
389.322
111.313 5,411,806 6,439,051
2,015,670
2.015.670
3,695,619
111.313 5.822,602 6,828,373
Charitable activities {20191
Dlrect
charitable
expendlture
Support
osls
(note 81
Grant
paymonts
Total
2019
Children's health
and welfare
Global Education
389,322
3.208,054
389,322
126.729 6.439.051
3.104,268
3,104.268
3.597,378
126,729 6,828,373
18

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS {continuedl
FOR THE YEAR ENDED 30 NOVEMBER 2020
Grants payable
2020
Numbor
2020
2019
Number
2019
Payable to Inslitulions
10
2.015.670
15
3,104,268
The following grants lo Inslilulions were made..
2020
2019
Rgstrlcted funds:
Jennifer Brown Research Fund:
The Univeisity of Edinburgh Development Trust
410,646
389,322
Global Educatlon..
Bognor Regis Youth FC
CHIREHO
Edinburgh Direcl
Maya Foundation
Refugee Trauma Initiative
UNICEF
United Lebanon Youth Project
Women in Technology Uganda
Youth Technology Foundalion
2,200
9,972
10.000
29,934
33,249
1.474,281
5,461
11,720
28,207
19,046
2.546,028
23.290
3,876
38,772
Total grants funded by restrlcted funds
2.015,670
3,020,334
Unrestrlcted funds:
Action for Education
Ashanti Development
The Butterfly Tree
Chance UK
Girls Out Loud
The Liam Fairhursl Foundation
Reach Out Youth Clubs
Youth and Womon for Opportunities Uganda
Zoe Sarojini Education Trust
12.024
4,460
5.000
20,000
10.000
5.000
10,000
9,950
7.500
Total unre5tTiCted grants payable
83.934
Total grants payabl¢
2,015.670
3,104,268
19

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THE YEAR ENDED 30 NOVEMBER 2020
8 Support costs
2020
2019
Salaries and national insufanco
Professional fees
Office, adminislralion and sundry expenses
Bank charges, card charges, and gainsllosses on foreign exchange
Governance costs
Facilities
49.493
41.417
11,136
1,509
227
22,440
50,ODO
4,405
18.9421
16,357
50,000
111,313
126.729
9 Governance Costs
Governance costs include auditors. remuneration of £15,990 {2019.. £16.2601. Of thi5. £11.600 {2019'.
£11,000} related lo the audit of the charity and £2.05012019'. £1,950) lo audit of the UK subsidiary. In
addition, non-audit remuneration of £2.340 {2019.. £2.210) is included for the Group.
10 Trustges and relatsd party transactlons
The Trustees neilheT received nor waived any emoluments during the year. During the course of Ihe
year no expenses were reimbursed to Trustees {2019.' £nil- no Trusleel. Tolal donations received from
Trustees amounted lo £403,31312019.. £455,324).
No other related party transactions requiring disclosure under FRS 102 took place dufing the year {2019'.
none).
11 staff costs
2020
2019
Wages and salaries
Social security costs
Pension costs
Termination payments
1.381.562
176,248
21,748
1.152.462
112.062
16,054
10.000
1,579,558
1.290,578
The average number of employees during the year was 2912019- 231.
4 employees earned more than £60,000 during the year12019 - 31. These employees emolumenls fell
into the bands:
2020
Number
2019
Number
£60,000- £69.999
£70,000- £79.999
£80,000- £89,999
£100,000- £109,999
£110,000 - £119,999
The lolal remuneration of key management personnel of the group amounted lo £320,937 {2019.'
£366,204).
20

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR ENDED 30 NOVEMBER 2020
12 Taxatlon
Th8 company is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly the
company is potentially exempl from laxalion in respect of income or capital gains within categories
covered by Chapter 3 of Part 11 of the CoTporalion Tax Act 2010 or Seclion 256 of the Taxation of
Chargeable Gains A¢1 1992. to the exlenl that such income or gains ar8 applied excluswely lo charitable
purposes. Similar lax exemptions apply lo the US subsidiary charily.
The UK subsidiary company makes qualifying donations of all taxable profts to Theirworld. No
corporation tax liabilily on the subsidiary arise5 in the accounls.
13 Flxed assets
Furniture
Flxture and
Fittlngs
Office
Equlpment
Total
Group
Cost
At 30 November 2019
Additions
135
23.876
18,708
24,011
18,708
Balance at 30 November 2020
135
42.584
42,719
Accumulated depreclatlon
At 30 November 2019
Charge for the year
135
19,842
4.599
19.977
4,599
Balance at 30 November 2020
135
24,441
24,576
Net Book Value
Carried forward al 30 November 2020
18.143
18.143
Brought forward al 1 December 2019
4.034
4,034
Charlty
Cost
AI 30 November 2019
Additions
135
23.876
4.470
24,011
4,470
Balance at 30 November 2020
135
28.346
28.481
Accumulated depreciatlon
At 30 November 2019
Charge for the year
135
19,842
2.937
19,977
2,937
Balance al 30 November 2020
135
22.779
22,914
Net Book Value
Carried forward at 30 November 2020
5,567
5.567
Bfoughl forward at 1 December 2019
4,034
4.034
21

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR ENDED 30 NOVEMBER 2020
14 Flxed ass￿ investments
Shares In
subsidiary
undertaking
Total
Group
Market value & historical cost at 30 November 2019 & 2020
Charity
Market value & historical cost al 30 November 2019 & 2020
Subsldlary undertakings
Thelrworld Projects Llmitgd
The wholly-owned trading subsidiary. Theifworld Projects Limilod (company number.. 04326134). which
is incorporated in the United Kingdom. Theirworld Projects Limiled's principal aclivili8s are all the
commercial trading operalions carried on by TheirwoTld. The ¢harily owns the entire issued share ¢apilal
of l ordinaryshare of£1 each. Thefull profil for Ihe year 18 donated lo Theirworld under deed ofcovenant.
A summary of the trading results to 30 November 2020 is shown below.
2020
2019
Summary profit and loss account
Turnover
2.595.905
1,793,386
Cost of sales
Adminislralive expenses
Other operating income
{9251
1203,5941
203.623
{4.543}
1173,1911
174,714
Nel profit I (Ios81 before amounts donated lo Theirworld
2,595.009
1.790.366
The asset5 and Ilabllities of the subsldlary ware:
Current assets
99,601
340,492
Credilois.. amounls falling due within one year
199,600)
{50.1251
Total net assets
290.367
Aggregate Share capital and reserves
290.367
22

THEIRWQRLD
NOTES TO THE FINANCIAL STATEMENTS Icontinuodl
FOR THE YEAR ENDED 30 NOVEMBER 2020
14 Flxed asset inv8stments (Gonlinued)
Global Buslnes5 Coalltlon for Educatlon, Inc
The wholly-owned charitable subsidiary. the Global Business Coalition for Education. Inc. is a
corporation which has exemption under section 501ICII31 of the Internal Revenue Code from Federal
income lax in the US, and is incorporated under the laws of Delaware, USA. GBC-Educalion was
created lo act as a business voice for making education a global priority.
A summary ofthe operating re8utts to 30 November 2020 is 3hown below.
2020
2019
Summary proflt and loss account
Income
Expenditure
2.235,298
11,534,183)
1.243.362
11,105,227)
Nel income retained by the subsidiary
701.115
138.135
The assets and liabillties of the Subsidiary werg:
Fixed assets
Current assets
Creditors.. amounts falling due within one year
12,576
1,334.204
(155,996)
632,929
(98.409)
Ag9regate reserves
1.190.784
534,520
15 Debtors
2020
Group
2019
Group
2020
Charity
2019
ChaTSty
Amount due from subsidiary
undertakings
Other debtors
Prepayments and accrued income
98.070
38,382
26.407
335,335
351,822
41,506
178.721
26,407
897,665
41,506
205,128
939.171
162.859
728.663
All amounts shown under debioTS fall due for payment within one year.
16 Credltors.. amounts falling due within one year
2020
Group
2019
Group
2020
Charity
2019
Charlty
Trade creditors
Giant commitments
Other laxalion and social security cosls
Other creditors
Accruals and deferred incom8
AmoLsnts owed to subsidiary undertakings
144,937
264,247
646,115
24.683
165,838
368.190
24,272
35,260
3.397
50.242
35,091
3.397
37,793
42.025
37,278
232.956
233,836
977,070
76.343
828,534
23

THEIRWORLD
NOTES TOTHE FINANCIAL STATEMENTS Icontlnuedl
FOR THE YEAR ENDED 30 NOVEMBER 2020
17 Restricted funds
30
November
2020
December
2019
Income
Expendltum
Transffrrs
Jennifer Brown Research Fund
Global Education
Global Business Coalition for
Education
169.437
403.789
4.158.676 5,712,150
1410.7961
13,811,533}
{63.6591
98,771
6,059,293
441.809 1,930.936
11,579.0031
793,742
4.769.922 8,046.875
15.801.332)
(63,659) 6,951,806
Expendiluie in the above note includes exchange losses on Gonsolidalion
30
Novfrmber
2019
D8￿mb$r
2018
Income
Expendlture
Transfers
Jennifer Brown Research Fund
Global Education
Global Business Coaliiion for
Education
63.659
495,100
1,468.343 8,090,010
{389,322)
{5,399,6771
169,437
4.158,676
181,420 1,043,523
1965,562)
182,428
441,809
1.713,422 9.628,633
{6,754,5611
182.428 4.769,922
The Jennifer Brown Research Fund was launched in February 2003 to support the Jennifer Bn)wn Research
Laboratory al the New Royal Infirmary Edinburgh. The Laboratory's innovative work seeks lo advance our
understanding of what causes sarly labour, how we can develop treatments lo prevent il and how we can
beller help newborn babies in those first crucial hours and days after birth. The Theirworld Edinburgh Birth
Cohort was launched in November 2016,. a 25-year study which includes social, educaliortsal and clinical
information, a world first in investigating the long-leTm effects of pretemi birth.
The Global Education fund was launched in April 2012 to help children unlock Iheir potential by focussing 11$
efforts on three causes.. giving every child quality preschool care. enforcing every child's right to go lo school
and giving every young adult access to skills development.
24

THEIRWORLD
NOTES TO THE FINANCIAL STATEMENTS Icontlnued}
FOR THE YEAR ENDED 30 NOVEMBER 2020
17
Restrlctgd funds Icontlnuedl
The Global Business Coalition for Education fund reflects resliicted giants received within the
subsidiary undertaking, Global Business Coalition for Education, Inc. less amounls released during the
year to unre8tricled funds.
Transfers from reslficted lo unresli¢cted funds relle¢ts the balance of restricted funds as recorded in
the I￿allY audited accounts al 30 November 2020 and 30 November 2019.
18 Analysls of net assets between funds
Unrestrlcted
funds
Restrlcted
funds
Total
funds
Fund balances at 30 Novembèr 2020 aTO reprèsented by:
Fixed assets
Current assets
Liabilities
18,143
1.521,039
{233.836}
18,143
8,472,845
1233,8361
6,951,806
Total nel assets
1.305.346
6.951.806
8.257,152
19 Analysis of net ay/68ts betsveen funds 2019
Unrostricted
Funds
Restrlcted
funds
Total
funds
Fund balances at 30 November 2019 are represented by:
Fixed assets
Current assets
Liabilities
4,034
1,806,445
1977,0701
4.034
6.576,367
{977.0701
4,769,922
Total nel assets
833,409
4.769.922
5.603,331
25

THEIRWORLD
NOTES TOTHE FINANCIAL STATEMENTS l¢ontlnuedl
FOR THE YEAR ENDED 30 NOVEMBER 2020
20 Comparative Statement of Flnanclal Actlvltles
Note
Unrestricted
funds
Restrlcted
funds
2019
Income from:
Donations
Other trading adivilies and
fundraising events
Investments
81.099
7,848,928
7,930.027
73.970
22.487
1.779,705
1.853.675
22,487
Total Income
177.556
9,628,633
9.806,189
Expenditure on:
Cost of raising funds
Cost ot raising donations
Fundraising trading.. cost of
gotxls sold and other costs
6,286
52.913
59,199
Charltable actlvlties
126.725
6.701,648
6,828,373
Total expendlture
133.011
6,754,561
6,887,572
Not Incomellexpendlturel
44.545
2.874,072
2,918,617
Transfers
Exchange gainslllosses) arising
on consolidation
17
1182.4281
182,428
36.177
36,177
Not movement In fund8
1101,706)
3.056.500
2.954,794
Fund balances brought fornard
935.115
1,713.422
2,648,537
Fund balances carried lo￿ard
833,409
4,769,922
5,603.331
26