2025-12-31-accounts

E3 INITIATIVE

FINANCIAL STATEMENTS 31 DECEMBER 2025

Charity Number 1092574

E3 INITIATIVE

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

CONTENTS										Pages
Reference and administrative information 1
Report of the Trustees										2~~-~~7
Independent examiner’s report to the Trustees 8
Statement of financial				activities						9
Balance sheet										10
Notestotheaccounts										11~~-~~17

E3 INITIATIVE

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 DECEMBER 2025

Status

E3 Initiative is formed under a Declaration of Trust dated 4 March 2002, as amended on 12 May 2009 and then amended by deed on 29 March 2013. E3 Initiative is constituted as an unincorporated trust. Initially named iThemba AIDS Foundation, it is a registered charity, with charity number 1092574 ~~.~~ On 10 June 2009, its name changed from iThemba AIDS Foundation to EngageHIV Foundation ~~.~~ On 12 September 2010, EngageHIV Foundation agreed to merge with Entrust Foundation which transferred all its assets and liabilities to EngageHIV Foundation. Its name was changed at the same time to E3 Initiative.

Trustees

The Trustees have the power to appoint new or additional Trustees and to remove any Trustee provided the number of Trustees does not fall below a minimum of three ~~.~~ The Trustees who served during the year and since the year end were as follows:

Trevor Finlay (Chairman) Dr. Monique Andersson Capt ~~.~~ Richard Meryon Andrew Davisson Andrew Fearon Tre Sheppard Dr Elisabeth Ling

Principal Address

Cornerstone, Fyfield Wick, Abingdon OX13 5NB

Independent Examiner

Joshua Kingston BSc (Hons) FCA, Burton Sweet Limited, Chartered Accountants, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR

Bankers

Danske Bank, PO Box 183, Donegall Square West, Belfast BT1 6JS

1

E3 INITIATIVE TRUSTEES’ ANNUAL REPORT ~~YEARENDED20250031DECEMBER~~

The Trustees have pleasure in presenting their report and financial statements of the charity for the year ended 31 December 2025 ~~.~~

~~1. Structure, Governance and Management~~

1 ~~.~~ 1 ~~.~~ | Organisational Structure

E3 Initiative (‘E3 UK’) is formed under a Declaration of Trust dated 4 March 2002 ~~.~~ As of 31 December 2025, the organisation had seven Trustees who are responsible for directing the affairs of E3 UK and ensuring that it is solvent, well-run, and delivering the charitable outcomes detailed below, under the sub ~~-~~ heading, ‘Charitable Objects and Purpose’ ~~.~~ E3 UK has two sister charities, one in South Africa called E3 Initiative South Africa Trust (‘E3 SA’) and a US 501(c) 3 corporation called E3 Initiative Foundation USA (‘E3 US’) ~~.~~ Together the three charities form what we call the ‘E3 Group’ or ‘E3’.

The E3 UK Trustees have delegated responsibility for the day ~~-t~~ o ~~-~~ day overall management of E3 to Pastor Sinatra Matimelo who serves as Chief Executive Officer (‘CEO’) of E3 SA ~~.~~ Andrew Davisson, who is also a Trustee of E3 SA, is the Financial Controller for each of the three charities in the E3 Group. E3 UK and E3 US are primarily responsible for fundraising for the E3 Group ~~.~~ To that end, the Trustees are all involved in various fundraising initiatives. In addition, Sarah Smith is a consultant responsible for marketing and communications, reporting to the Trustees.

1 ~~.~~ 2 ~~.~~ Recruitment and Appointment of New Trustees As stated above, as of 31 December 2025, E3 UK had seven Trustees ~~.~~ The Trustees have the power to appoint new or remove existing Trustees if there are at least three Trustees. New Trustees are appointed for a term of three years by a resolution of the Trustees passed at a Special Meeting ~~.~~

The Trustees identify the need for new Trustees, either because vacancies have arisen through resignations or because there is a need for one or more Trustees with specific skills that are required to help run the charity more effectively. The Trustees then agree selection criteria based on an agreed view of Trustees’ roles, responsibilities and expected contribution towards E3’s vision. In more detail, we use a skills and experience matrix which identifies areas of strength of the existing Trustees and highlights which skills are required ~~.~~ We then work within our existing contacts and networks to identify potential names and contacts ~~.~~ Up until now we have not formally advertised such positions. Potential Trustees are interviewed by the Trustees and if successful are invited to join the Trustees, subject to references and formal vetting ~~.~~ The vetting process includes confirmation that the candidate is not disqualified from acting as a Trustee, confirmation from the candidate of any existing or potential conflicts of interest as well as seeking the necessary Disclosures from the Criminal Records Bureau ~~.~~ (We have had confirmation from the Charity Commission that in its present modus operandi, E3 is not required to seek such Disclosures from the Trustees but we consider it to be good practice ~~.)~~

1 ~~.~~ 3 ~~.~~ | Note on Public Benefit This Trustees’ report respects and values the Charity Commission’s requirements for reporting on activities that further our charitable purposes from the perspective of public benefit. We believe we have not only done this but have also fully complied with the duty outlined in the Charities Act 2011, to have paid due regard to the public benefit guidance published by the Charity Commission ~~.~~ E3 Initiative is committed to planning and implementing its charitable activities with this guidance in mind, and to integrating the reporting of public benefit into its reports to the Charity Commission ~~.~~

All our activities are aimed not only at improving the delivery of care for the pastors and community leaders our local project partners work with, but also at deliberately improving the lives and livelihoods of those in the communities that they serve, regardless of race or gender. In other words, the very nature of E3 means that the charity is designed to serve the wider community ~~.~~

2

E3 INITIATIVE TRUSTEES’ ANNUAL REPORT ~~YEARENDED0031DECEMBER 2025~~

1 ~~.~~ 4 ~~.~~ Policies

Child protection and safeguarding policy: The E3 Child Protection Policy aims to safeguard children from any kind of abuse as far as possible and to minimise the risk of abuse where it exists ~~.~~ Our policy is based on the Christian and Social Work values and principles which state that every young person should be valued asa gift from God and therefore needs to have dignity and value and be protected from any form of abuse to enhance the social functioning of that person ~~.~~ This policy applies to children who are beneficiaries of E3 partner projects ~~.~~

Other safeguarding policies: We have also developed the following policies to enhance the safeguarding of beneficiaries, partner projects and staff/volunteers:

• Bullying, harassment and whistl ~~e-~~ blowing policy

• Diversity and inclusion policy

• Safeguarding code of conduct

• Safeguarding complaints policy

Volunteering policy: E3 has developed a policy to manage requests to volunteer within our organisation or with one of our partner projects through us. It outlines principles of volunteering and the application and selection process ~~.~~

Environmental policy: E3 Initiative acknowledges the connection between the climate and environmental crises, the threat of current and future poverty, disease, food and water shortages and homelessness for millions of people around the world ~~.~~ Helping people in southern Africa escape the cycle of poverty is our primary goal and caring for God’s creation is part of our mandate as a Christian organisation. Working to reduce our environmental footprint must be a priority. In 2025, E3 developed this policy to identify ways to reduce our footprint in the short and longer term.

All E3 policies are available at ~~https://www.e3initiative.org/policies~~

Risk Register: E3 uses a risk register to monitor the major risks to its ongoing operations. It looks at the seriousness and likelihood of each risk factor happening to form a risk matrix. The risk matrix is reviewed on an annual basis by the trustees ~~.~~

1.5. Financial Review and Reserves Policy

In 2025, E3 UK received voluntary income of £431,324, higher than the income of £325,214 received in 2024. However, it should be noted that this does not give a complete picture of the level of funding for the E3 Group because donations are also provided to the US Foundation and the South African Trust ~~.~~

Total expenditure for 2025 was £394,439 (2024: £287,267), including £275,000 transferred to E3 Initiative South Africa to support its charitable activities ~~.~~ E3 had a surplus for the year of £37,612, which increased total funds from £176,403 on 1 January 2025 to £214,015 as of 31 December 2025.

In 2025, E3 UK spent £376,832 on charitable activities (95% of total expenditure), most of which constituted grants to E3 partner projects ~~.~~ Another 4% of expenditure was allocated to the costs of generating voluntary income and 1% was spent on governance costs.

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E3 INITIATIVE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025

E3 UK holds all its assets in cash or cash deposits so no formal investment objectives are set as part of our planning process ~~.~~ There was only minimal investment income received in 2025 due to low interest rates at Danske Bank ~~.~~

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should not be less than £10,000 ~~.~~ At this level, the Board of Trustees feels that it would be able to continue the current activities of the charity in the event of a reduction in funding ~~.~~ However, should such an event occur, it would be necessary to review the level of activities or seek replacement funds. At the balance sheet date, the free reserves amounted to £135,885.

1.6. Charitable Objects and Purpose

The charitable objects of E3 UK as set out in its governing document are as follows:

• a) to promote and advance the Christian religion

• b) the relief of financial hardship of orphans due to HIV/AIDS

• c) the relief of sickness due to HIV/AIDS

• d) to advance the sexual education of persons living in communities affected by HIV/AIDS ~~.~~

The sole purpose of E3 UK is to serve and transform local communities, but to do so through local community ~~-~~ based churches and Christian organisations at the grassroots. This fait ~~h~~ -based approach seeks to empower and develop the spiritual, the social and the economic health of needy communities in Southern Africa ~~.~~

2 ~~.~~ Charitable Activities and Achievements for 2025

In 2025, E3 UK continued to support the work of E3 across five Southern African countries: Lesotho, Malawi, South Africa, Zambia, and Zimbabwe. During the year, E3 UK provided funding to E3 SA, enabling it to grant and administratively monitor 34 partner projects across the region.

Through these interventions, E3 directly impacted 52,950 men, women, and children, while an additional 221,180 people were indirectly impacted. This overall increase in reach was largely due to additional funding received for Gender ~~-~~ Based Violence (GBV) programmes, which enabled expanded activities across communities. A significant rise was also recorded in the number of children supported under the Back ~~-t~~ o ~~-~~ School Programme, driven by the growth of E3’s career exhibitions initiative ~~.~~

Below is a summary of the impact achieved across E3’s programme areas in 2025:

• Church and Community Leaders Training and Sustainable Livelihoods Support A total of 987 leaders were trained and empowered in sustainable livelihoods, Bible teaching, gender ~~-~~ based violence and the microfinance programme ~~.~~ Each trained leader also supported an average of 40 community members, resulting in a direct impact of 39,480 people.

• » HIV/AIDS Education and Support 10,374 people, both directly and indirectly affected by HIV and AIDS, were supported through education, counselling and testing, access to medication, adherence to medication, support groups, and health services, primarily in Lesotho, Malawi, and Zimbabwe ~~.~~ The increase in demand for these services is attributed to the closure of USAID and changes in funding policies affecting NGOs, which has led more people to seek medical care from E3 ~~-f~~ unded health centres.

• «= Back to School Programme In 2025, 13,222 orphaned and vulnerable children, including teenage mothers, were supported with school uniforms, lif ~~e-~~ skills, reproductive health education, meals at school and sanitary towels ~~.~~ The

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E3 INITIATIVE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025

rising levels of drug abuse, career exhibitions, teenage pregnancies, and low school pass rates necessitated intensified lif ~~e-~~ skills programmes across all 34 E3 ~~-~~ supported projects ~~.~~

• « Microfinance and Sel ~~f-~~ Help Groups 4,049 people were supported through microfinance initiatives and sel ~~f-~~ help groups, including training, credit and savings schemes, and agricultural projects ~~.~~ The decrease in numbers compared to previous years reflects the fact that many beneficiaries were fully trained in 2024 and required minimal additional support in 2025 ~~.~~

• » Advocacy Against Gender ~~-~~ Based Violence (GBV) 15,834 people were reached through various GBV programmes. Increased funding allowed E3 to expand its reach within schools, local churches, and large community gatherings across all five countries ~~.~~ Working with 34 partner projects, E3 focused on raising awareness, breaking the silence around GBV, promoting behavioural change, and supporting survivors.

• » Advocacy Against Substance Abuse 3,066 individuals struggling with substance abuse, or at risk of exposure to illicit drugs, were supported through school-based workshops, counselling services, and the provision of meals ~~.~~

• « Prison Ministry 3,865 inmates in maximum- ~~se~~ curity prisons in Zambia, Lesotho, and Zimbabwe were supported through the provision of toiletries, clothing, shoes, socks, food, and spiritual encouragement ~~.~~ The reduced outreach compared to previous years was due to political unrest in some countries, which restricted access to certain prisons housing political detainees ~~.~~

• « Refugee Support 1,553 refugees were supported as people continued to arrive from the Democratic Republic of Congo, Rwanda, and Burundi ~~.~~ Partner projects provided advocacy services, assistance with documentation, resettlement assistance, guidance on asylum procedures, and support for individuals detained due to illegal immigration status ~~.~~

3 ~~.~~ Goals for 2026

We plan to directly reach 55,247 beneficiaries and indirectly impact 230,500 beneficiaries. We will continue to work with 34 partner projects in Lesotho, Malawi, South Africa, Zambia, and Zimbabwe ~~.~~ We are noticing an increasing demand for health services, social support, and counselling at E3 ~~-~~ supported partner projects, as many non ~~-p~~ rofit organisations in these countries are closed or operating at minimal levels due to funding challenges ~~.~~

Below are our 2026 goals and planned activities:

• Church and Community Leaders Training We aim to train and empower 1,020 leaders through leadership programmes on gender ~~-~~ based violence, economic empowerment, and marriage seminars, delivered in collaboration with our 34 partner projects across Southern Africa.

• HIV and AIDS Support Programme We plan to support 10,915 people living with, affected by, or at risk of HIV and AIDS ~~.~~ This will be achieved through education, counselling and testing, access to medication, treatment adherence support, and engagement in support groups and health clinics.

• Back to School Programme 12,780 children will benefit from our Back ~~-t~~ o ~~-~~ School Programme, receiving school uniforms, meals, psychosocial support, life skills training, sanitary pads, preschool provision, and university fees ~~.~~

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E3 INITIATIVE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025

• « Improving Livelihoods Programme We will support 4,620 people through livelinood programmes, including refugees seeking assistance through our partner projects ~~.~~ This will include agriculture initiatives, small business activities, microfinance, and sel ~~f-~~ help group support.

• « Advocacy Against Gender ~~-~~ Based Violence Programme We aim to reach 15,834 adults and children through workshops that raise awareness, break the silence, and support those affected by sexual and gender ~~-~~ based violence ~~.~~ Additional funding for GBV in our 2026 budget has enabled us to double our reach to victims and those at risk.

• » Advocacy Against Substance Abuse Programme 4,700 adults and children affected by, or at risk of, substance abuse will be supported through school workshops, meals, and counselling, particularly for individuals living on the streets in Bulawayo, Zimbabwe, and Pietermaritzburg, South Africa.

• Prison Ministry Programme We will support 3,650 inmates in maximum- ~~se~~ curity prisons in Lesotho, Zambia, and Zimbabwe, through spiritual guidance, distribution of toiletries, food, and Christian literature.

• = Refugee Support 1,728 refugees, primarily new arrivals, will receive advocacy, assistance with documentation, and guidance on asylum seeking, in partnership with E3 projects in major South African cities, including Cape Town, Durban, and Pietermaritzburg ~~.~~

E3 staff and partner projects are fully committed and passionate about achieving these goals and continuing to make a meaningful impact across the communities we serve ~~.~~

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E3 INITIATIVE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2025

4 ~~.~~ Statement of Trustees’ Responsibilities for the Annual Accounts

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

• e select suitable accounting policies and then apply them consistently.

• e observe the methods and principles in the Charities SORP;

• e make judgments and accounting estimates that are reasonable and prudent;

• e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business ~~.~~

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report and the financial statements have been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities” ~~.~~

Signed on behalf of the Trustees by:

Trev or Fulay Trevor Finlay Chair of the Trustees

Approved by the Trustees on ___3 February 2026 oooceesesese ~~n~~

7

E3 INITIATIVE INDEPENDENT EXAMINER’S REPORT ~~YEARENDED20250031DECEMBER~~

Independent examiner’s report to the trustees of E3 Initiative

| report to the trustees on my examination of the accounts of E3 Initiative (the Charity) for the year ended 31 December 2025 ~~.~~

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

| have completed my examination. | 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:

• 1 ~~.~~ accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

• the accounts do not comply with the applicable requirements concerning the form and content 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.

| have no concerns and have 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.

7 ini Kingston Joshua Kingston BSc (Hons) FCA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 9 February 2026

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E3 INITIATIVE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2025

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Funds|Total|Funds| |Funds|Funds|2025|2024| |Note|£|£|£|£| |Income|from:| |Donations|2|354,428|76,896|431,324|325,214| |Investments|727|-|127|1,934| |Total|income|355,155|76,896|432,051|327,148| |Expenditure|on:| |Raising|funds|3|17,607|-|17,607|15,821| |Charitable|activities|4|376,832|-|376,832|271,446| |Total|expenditure|394,439|-|394,439|287,267| |Net|income/(expenditure)|and| |net|movement|in|funds|7|(39,284)|76,896|37,612|39,881| |Total|funds|at|start|of year|12|175,069|1,334|176,403|136,522| |Total|funds|at|end|of year|12|135,785|78,230|214,015|176,403|

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The Charity has no recognised gains or losses other than the results for the year as set out above ~~.~~

All of the activities of the charity are classed as continuing ~~.~~

The comparative funds are set out in note 14 ~~.~~

The notes on pages 11 to 17 form part of these financial statements

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E3 INITIATIVE

BALANCE SHEET

AS AT 31 DECEMBER 2025

Current assets Debtors				Note 10	2025 2024 £ £ 7,662 8,608
Cash at bank and in hand					299,453 252,335
					307,115 260,943
Liabilities
Creditors : amounts falling
due within one	year			11	(93,100) (84,540)
Net current assets					214,015 176,403
Net assets					214,015 176,403
FUNDS
Unrestricted funds
General funds				13	135,785 175,069
Restricted funds				13	78,230 1,334
Totalfunds					214,015 176,403

These financial statements were approved by the Trustees on 2February2026 | ang are signed on their behalf by:

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Trev or Finlay
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Trevor Finlay Chair of Trustees

The notes on pages 11 to 17 form part of these financial statements

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E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

a) Accounting convention

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn ~~.~~

The charity is a public benefit entity as defined under FRS102 ~~.~~ The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern ~~.~~

b) Income

Income from donations is included in income when these are receivable, except as follows:

|. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;

Il. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre ~~-~~ conditions have been met.

Investment income is included on a receivable basis.

c) Expenditure

Expenditure is recognised in the period in which it is incurred ~~.~~ Expenditure includes attributable VAT which cannot be recovered.

Raising funds

Raising funds comprise the costs associated with attracting that income, including fundraising costs and the cost of raising awareness of partnership projects and their needs ~~.~~

Grants payable

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised when the conditions attaching are fulfilled.

Charitable Activities

Charitable activities include costs incurred directly in support of expenditure on the objects of the charity and 100% of the support costs ~~.~~

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E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1 Accounting policies (continued)

Governance costs

Governance costs include the costs of governance arrangements which relate to the general running of the charitable activities. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include any costs associated with the strategic management of the charity's activities. Governance costs are included within support costs.

Foreign currency transactions

Transactions in foreign currencies are recorded at the average rate of exchange for the year. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date ~~.~~ All differences are taken to the Statement of Financial Activities ~~.~~

d) Tangible fixed assets

Fixed assets are held at cost less accumulated depreciation ~~.~~ Assets costing less than £2,000 are not capitalised.

e) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered ~~.~~ Prepayments are valued at the amount prepaid after taking account of any discounts due.

• f) Cash and cash equivalents

Cash at the bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

g) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably ~~.~~ Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

h) Fund accounting

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees ~~.~~

Restricted funds can only be used for particular restricted purposes within the objects of the charity ~~.~~ Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in note 12 of the financial statements.

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E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

2 Income from: Donations

														Unrestricted	Unrestricted	Restricted Total Funds
														Funds £		Funds 2025 £ £
Donations														348,762		76,896 425,658
Gift aid				received										5,666		~~-~~ 5,666
														354,428		76,896 431,324
														Unrestricted		Restricted Total Funds
														Funds £		Funds 2024 £ £
Donations														320,411		2,334 322,745
Gift aid				received										2,469		~~-~~ 2,469
														322,880		2,334 325,214
3 Expenditure on:										Raising funds
																Total Funds Total Funds
																2025 2024 £ £
Fundraising							activities									17,607 15,821
																17,607 15,821

All expenditure on raising funds in the current and prior year was unrestricted ~~.~~

4 Expenditure on: Charitable activities

		Restricted Grantfunding Support	Restricted Grantfunding Support	Restricted Grantfunding Support	Restricted Grantfunding Support
		Funds of activities Costs Total Funds
			(Note £	5)	(Note 6) 2025 £ £
Partnership projects			~~-~~ 374,335 2,497 376,832
			~~-~~ 374,335 2,497 376,832
		Restricted Grantfunding Support
		Funds of activities Costs Total Funds
			(Note £	5)	(Note 6) 2024 £ £
Partnership projects		21,874 244,728 4,844 271,446
		21,874 244,728 4,844 271,446

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E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

5 Analysis of grants

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|||||||| |---|---|---|---|---|---|---| |2025|2024| |To|institutions:|£|£| |E3|Initiative|South|Africa|275,000|144,126| |Starfish|Malawi|4,000|5,000| |Sunrise|Health|Ministries|7,040|13,060| |Word|Alive|Ministries|3,443|6,285| |Centre|for|Christian|Missions|17,040|10,040| |Mobile|Mission|Maintenance|540|3,140| |Family|Life|Projects|Trust|540|6,284| |Scripture|Union|Zimbabwe|13,029|14,274| |Samaritan|School|11,500|4,000| |Bethel|Baptist|Church|6,540|9,040| |Fishers,|Trainers|and|Senders|Ministries|12,540|9,790| |Bridgepoint|Vineyard|Christian|Fellowship|Church|4,540|4,540| |Pastor|Connect|Zambia|10,540|7,664| |Pastor|Connect|Zimbabwe|5,040|4,040| |E3|Projects|3,003|3,445| |374,335|244,728|

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All grants paid in the current and prior year were from unrestricted funds.

6 Support costs

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||||||| |---|---|---|---|---|---| |Total|Total| |2025|2024| |£|£| |Office|and|general|costs|51|51| |Foreign|currency|exchange|gains/(losses)|-|(791)| |Governance|costs|2,446|5,584| |2,497|4,844|

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All support costs in the current and prior year was unrestricted ~~.~~

7 Net income/(expenditure) for the year

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||||||||| |---|---|---|---|---|---|---|---| |This|is|stated|after|charging:|2025|2024| |£|£| |Independent|examiner's|remuneration:| |-|for|independent|examination|700|680| |-|for|preparation|of|statutory|accounts|1,050|1,020|

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E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

7 Net income/(expenditure) for the year (continued...)

No trustees (2024: One) claimed expenses or had their expenses met by the charity in the year (2024: £1,043 relating to attending meetings) ~~.~~

Four trustees (2024: Two), key management personnel and other related parties made donations to the charity totalling £76,898 (2024: 1,150) during the year ~~.~~

8 Staff costs and related party transactions

There were no staff employed by the charity in the current or proceeding year ~~.~~

The Trustees consider themselves and the CEO of E3 SA to be the key management team. Total key management remuneration for the year amounted to ENil (2024: ENil) ~~.~~

There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements ~~.~~

9 Taxation

The charity is exempt from corporation tax on its charitable activities.

10 Debtors: amounts falling due within one year

																			2025 2024 £ £
Gift aid			recoverable																5,662 2,469
Sustainability loans																			2,000 6,139
																			7,662 8,608
11 Creditors:									amounts falling due								within one year
																			2025 2024 £ £
Accruals																			2,100 2,040
Grants			payable																91,000 82,500
																			93,100 84,540
Reconciliation ofgrants													grants payable						2025 2024
																			£ £
Commitments											brought forward								82,500 82,500
Net commitments												made			in the year				374 336 231,469
Payments							during the year												(365,836) (231,469)
Commitments											carriedforward								91,000 82,500

15

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

12 Movement in funds

For	For	For	the	the	the	yearended 31 December 2025 At 1 Jan	yearended 31 December 2025 At 1 Jan	yearended 31 December 2025 At 1 Jan	yearended 31 December 2025 At 1 Jan	yearended 31 December 2025 At 1 Jan	yearended 31 December 2025 At 1 Jan	At 31 Dec
											2025 Income Expenditure Transfers 2025
											£ £ £ £	£
Restricted funds
Lulisandla											400 400 -	- 800
Back				to		School					934 1,496 -	- 2,430
Loan				Capital							- 50,000 -	- 50,000
Vehicle						Fund					~~-~~ 25,000 -	- 25,000
											1,334 76,896 -	- 78,230
Unrestricted funds
General							funds				175,069 355,155 (394,439)	~~-~~ 135,785
											175,069 355,155 (394,439)	~~-~~ 135,785
Total funds											176,403 432,051 (394,439)	~~-~~ 214,015
For			the			yearended 31 December 2024 At 1 Jan						At 31 Dec
											2024 Income Expenditure Transfers 2024
											£ £ £ £	£
Restricted funds
Lulisandla											1,600 400 (1,600)	~~-~~ 400
Back				to		School					19,274 1,934 (20,274)	~~-~~ 934
											20,874 2,334 (21,874)	~~-~~ 1,334
Unrestricted funds
General							funds				115,648 324,814 (265,393)	~~-~~ 175,069
											115,648 324,814 (265,393)	~~-~~ 175,069
Totalfunds											136,522 327,148 (287,267)	~~-~~ 176,403

The running costs of the charity are funds donated to cover expenditure of the charity incurred during the year, with the exception of grant funding of partnership projects.

Restricted funds

The Lulisandla fund has arisen as a result of funds being donated for the purpose of supporting orphans ~~.~~

The Back to School fund is a programme supporting the purchase of school clothes and stationery for children in Southern Africa ~~.~~

The Vehicle Fund is for the purchase of a replacement vehicle for the South Afric ~~a-~~ based CEO ~~.~~

The Loan Capital (Sustainability Loan) is to provide loans to partner projects in Southern Africa, with interest credited back to the fund.

16

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

13 Analysis of net assets between funds

==> picture [526 x 649] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Current|Current|Total| |assets|liabilities|2025| |£|£|£| |Unrestricted|Funds| |General|Funds|228,885|(93,100)|135,785| |Restricted|Funds| |Lulisandla|800|-|800| |Back|to|School|2,430|-|2,430| |Loan|Capital|50,000|-|50,000| |Vehicle|Fund|25,000|-|25,000| |307,115|(93,100)|214,015| |Current|Current|Total| |Prior year comparatives|assets|liabilities|2024| |£|£|£| |Unrestricted|Funds| |General|Funds|259,609|(84,540)|175,069| |Restricted|Funds| |Lulisandla|400|-|400| |Back|to|School|934|-|934| |260,943|(84,540)|176,403| |14|Statement|of|Financial|Activities|comparative|figures| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2024| |£|£|£| |Income|from:| |Donations|322,880|2,334|325,214| |Investments|1,934|-|1,934| |Total|income|324,814|2,334|327,148| |Expenditure|on:| |Raising|funds|15,821|-|15,821| |Charitable|activities|249,572|21,874|271,446| |Total|expenditure|265,393|21,874|287,267| |Net|income/(expenditure)|for|the|year| |and|net|movement|in|funds|59,421|(19,540)|39,881| |Total|funds|at|start|of year|115,648|20,874|136,522| |Total|funds|at|end|of year|175,069|1,334|176,403|

----- End of picture text -----

17