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2024-04-05-accounts

EDUKID

REPORT OF THE TRUSTEES

AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

EDUKID

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2024

The Trustees present their report with the financial statements of the Charity for the year ended 5 April 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number: 1099058 (England and Wales) Principal Address: 5 Hart Street, Bideford, Devon EX39 2NB Trustees: B Duhig (Chairman) N Wormington A Hardy (Secretary) M Kensett A Watson Chief Executive: C Turner Independent Examiner: Edward Meardon FCA R T Marke & Co Ltd 69 High Street Bideford Devon EX39 2AT Bankers: Lloyds Bank Plc 25 Gresham Street London EC2V 7HN NatWest Group 36 St Andrew Square Edinburgh EH2 2YB

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is constituted and controlled by its governing document, a deed of trust.

Recruitment and appointment of trustees

Trustees are appointed by resolution of the Trustees.

Organisational structure

The Trustees are responsible for the strategic management of the charity, policy making and the monitoring of its work. The Trustees have delegated day to day operational management of the Charity to the Chief Executive.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have considered the known risks to which the Charity is exposed and meet regularly to review these risks and keep updated the plans to minimise the impact on the Charity should any of these risks materialise.

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EDUKID

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2024

OBJECTIVES AND ACTIVITIES

Objects of the Charity

The objects of the Charity are to advance education and relieve poverty, working in accordance with Christian principles, whilst not imposing our views.

Progress against Charity objectives

Edukid's objectives for 2023-2024 was to maintain the current turnover and increase the regular/standing order income, to enable Edukid to have a more secure income.

Edukid aimed to achieve this by widening the number of UK schools it partners with and increasing monthly donations from supporters.

To this end, Edukid achieved a 12% increase in UK schools and regular giving increased by a similar ratio.

Turnover for this financial year increased by around £100,000.

Factors affecting the achievement of the Charity objectives

Increased fuel costs have had a significant effect on Edukid overseas trips, meaning profits have fallen. This has been offset by increased numbers travelling, meaning Edukid has still been able to meet it's financial forecasts.

Edukid overseas trips are largely dependant on outside funding to subsidise participant costs. Whilst Edukid has been successful in securing funding, the late notice of this has hampered our ability to maximise this opportunity to a wider audience.

Activities of the Charity

The Charity operates a Global Citizenship Schools programme to educate students on the issues of poverty and empower them to be part of the solution.

The Charity provides school packs and educational scholarships to those living in poverty in Cambodia, Peru and Uganda.

The Charity provides further support to help break down the barriers to education and promote equaliy and the rights of a child as well as climiate change projects.

This includes therapy, IT, solar, farming, shelters and housing.

Public Benefit Statement

As trustees of the Charity we have complied with our duty under Charity Law to have due regard to guidance published by the Charity Commission on public benefit.

As well as directly benefiting the children and young people to whom it provides education and financial support, the Charity benefits society as a whole by furthering education and ultimately reducing poverty in the countries in which it operates.

Future plans for the Charity

Looking to the year ahead, Edukid is launching a new Global Citizenship/Character Development Program aimed at UK schools trusts. The program will enable schools to achieve higher inspection results and provide an improved learning experience for students. This in turn is expected to attract more UK schools to partner with Edukid.

Expansion of the D of E Awards program is envisaged and this will include further International Schools.

The Uganda program continues to move towards a sustainable and independent model, less reliant on Edukid. In our Peru program we plan to invest in a girls shelter to safeguard the well being of girls most at risk.

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Corporate sponsorship is also an area Edukid are developing. This is with the aim of creating an income for sustainable and environmental initiatives. This in turn will enable Edukid to have a more diverse income.

Future direction of the Charity

The increase in UK school partnerships has led to increased funding for educational resources and support to UK schools. This in turn has seen an increase in revenue and overseas participants.

The unpredictable nature of funding from UK schools and grants has led trustees to diversify income to reduce the risk the overall financial risk to the charity.

ACHIEVEMENT AND PERFORMANCE

The number of UK schools running Edukid’s Global Citizenship Programme (GCP) continued to increase, with particular growth in secondary schools. The affiliation of the program with the Duke of Edinburgh Awards also enabled Edukid to work with schools internationally. The GCP is designed to enable students to learn about the UN Sustainable Development Goals through the eyes of the children in our overseas program. The GCP seeks to educate, inspire and to empower students to apply their learning and realise their potential to instigate change.

Edukid were also able to secure grants towards student trips to Uganda and Cambodia. This significantly impacted on Edukid’s turnover. Students on these trips spoke of life-changing moments and the positive impact it had on their own personal lives.

This year the Charity offered an apprenticeship to a former student of the GCP and a leading role within Edukid to another former student who is now studying a Masters in International Development.

Our work in Peru is now in it’s second year and it continues to grow in accordance with our 3 year business plan. A shelter for vulnerable girls is planned along with solar power for an indigineous school in the Amazon.

Around 2,700 children in Uganda, Cambodia and Peru have been supported in their education over the last 12 months.

The first full year of the charity tithing money to help countries in conflict saw a very successful appeal raise just over £16,000 for a hospital in Gaza. This money will be used to help towards the rebuilding of the hospital and provide therapy to children affected by the conflict.

Another five Cambodian students graduated from university this year.

One student in Uganda graduated university and two others have university scholarships. They are studying Law and nursing. 12 students are studying vocational training with 4 graduating in the last year.

Around 27,000 students are involved in Edukid’s Global Citizenship Awards Program.

Indicators used to assess performance

Edukid measure's it's performance over the year in two ways. Firstly, the number of children overseas we support into education and secondly the quality of our service to supporters and schools within the UK.

The number of children Edukid supported the year just gone has remained stable and increased slightly. This was in line with the objective for the year.

The upgrade in UK school resources and delivery of our Global Citizenship Program, attracted more UK schools and led to higher trip numbers which in turn led to the increased turnover.

Using the above measures of performance Edukid trustees conclude that objectives were met and in some cases exceeded.

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EDUKID

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2024

FINANCIAL REVIEW

The Charity reported a deficit of income over expenditure of £12,252 on unrestricted funds not designated for specific purposes in the year. Unrestricted funds stood at £596 at 5 April 2024.

The deficit in the accounts is caused by two factors. The first was a cancelled group trip to Peru due to a dengue fever outbreak. The second was the increase in flight costs, meaning trips were less profitable than previous years. Edukid reserves catered for the deficit and trip costs are being addressed for future trips.

It is the policy of the Charity to maintain unrestricted reserves at a level which will enable it to continue operating in the event of a short-term drop in funding. The Trustees consider the current level of free cash reserves to be sufficient for this purpose.

The Trustees have established Designated Funds as follows:

Growth Fund

A sum of £63,000 from a legacy received in a previous year which was set aside to allow the Charity to grow sustainably over the next few years.

Cambodia Project Commitment Fund

A sum of £30,000 has been set aside to ensure that the Schools project in Cambodia can continue in the event of a short term drop in funding. This is based on the likely costs of support funding for a 12 month period.

Uganda Project Commitment Fund

A sum of £60,000 has been set aside to ensure that the Schools project in Uganda can continue in the event of a short term drop in funding. This is based on the likely cost of support funding for a 12 month period.

Peru Project Commitment Fund

A sum of £25,000 has been set aside to set up a new schools project in Peru and ensure that it can still launch in the event of a short term drop in funding.

Principal funding sources

Standing orders increased significantly over the year as did Turing Funding for overseas trips. 1-3 year grant/trust applications were lower than last year. UK schools turnover saw a very significant increase.

Arrangements for setting the remuneraton of the Charity’s key personnel

Edukid trustees aspire to set staff salaries on a similar pay scale to UK teachers. Whilst progress is being made, income to date has not enabled this to happen.

Salaries are tracked to UK inflation and a bonus system is proportionately in place to reward marketing staff when turnover increases.

Salaries are tracked to acknowledge the qualifications, experience and skill set of individuals and are designed to always be lower than market averages to ensure wages reflect the desires of charity supporters.

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EDUKID

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2024

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 require 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008. 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.

On behalf of the Board

A Watson, Trustee

19 December 2024

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF EDUKID

FOR THE YEAR ENDED 5 APRIL 2024

I report to the trustees on my examination of the accounts of Edukid for the year ended 5 April 2024 which are set out on pages 7 to 15.

Responsibilities and basis of report

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

I report in respect of my examination of the Trustees’ accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I 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.

Edward Meardon FCA Member of the Institute of Chartered Accountants in England and Wales R T Marke & Co Ltd 69 High Street Bideford Devon EX39 2AT

10 January 2025

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EDUKID

BALANCE SHEET AT 5 APRIL 2024

2024 2023
Unrestricted Restricted Total Total
Funds funds funds funds
Notes
£		 £ £ £
FIXED ASSETS
Tangible assets 5 826 - 826 1,533
CURRENT ASSETS
Cash at bank and in hand 194,878 10,671 205,549 189,574
Debtors 156,917 - 156,917 79,204
CREDITORS
Amounts falling due within one year:
Accruals and deferred income 6 (174,025) - (174,025) (50,003)
____ __ ____ ___
NET CURRENT ASSETS 177,770 10,671 188,441 218,775
____ __ ____ ___
TOTAL ASSETS LESS CURRENT
LIABILITIES 178,596 10,671 189,267 220,308
____ __ ____ ___
NET ASSETS 178,596 10,671 189,267 220,308
========= ======= ========= =========
FUNDS
Unrestricted funds 7 178,596 214,667
Restricted funds 7 10,671 5,641
___ ____
TOTAL FUNDS 189,267 220,308
======== ==========

The financial statements were approved by the Board of Trustees on 19 December 2024 and were signed on its behalf by:

A Hardy, Trustee

A Watson, Trustee

The notes form part of these financial statements

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EDUKID

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING STATEMENT OF COMPREHENSIVE INCOME)

FOR THE YEAR ENDED 5 APRIL 2024

Restricted Designated Unrestricted
Funds Funds Funds Total 2023
£ £ £ £ £
INCOME
Incoming resources from
generated funds:
Voluntary income
- Regular donations 55,808 - 30,000 85,808 85,868
- One off donations 36,599 10,381 - 46,980 34,282
- Grants 1,000 20,000 9,828 30,828 23,000
- Schools Income 40,269 - - 40,269 36,743
Income from Charitable activities:
Educational trips - 282,428 - 282,428 255,680
Other income - 23,369 22,759 46,128 14,082
____ ____ ____ ____ ____
Total Income 133,676 336,178 62,587 532,441 449,655
____ ____ ____ ____ ____
EXPENDITURE
Costs of generating voluntary
income
Staff costs - - 24,660 24,660 8,143
Charitable activity expenses - - 1,012 1,012 9,895
Marketing - - 926 926 307
Charitable activities:
Support payments to Cambodia 28,951 2,178 - 31,129 29,900
Support payments to Palestine 9,293 7,107 - 16,400 10,000
Support payments to Uganda 88,911 - - 88,911 73,313
Support payments to Peru 491 21,509 - 22,000 -
Additional educational payments
to Uganda - - - - 684
Staff costs (UK schools) 1,000 20,000 18,157 39,157 51,252
Cost of educational trips - 309,203 - 309,203 243,146
Other expenses - - - - 1,000
Depreciation of equipment - - 1,488 1,488 1,648
Support costs
Office costs - - 14,316 14,316 5,901
Sundry expenses - - 219 219 269
Bank charges - - 178 178 141
Bad debt - - - - 519
Travel costs - UK - - 7,212 7,212 -
Governance costs
Staff costs - - 3,139 3,139 -
Bookkeeping - - 732 732 3,359
Independent examination - - 2,800 2,800 990
____ ____ ____ ____ ____
Total Expenditure 128,646 359,997 74,839 563,482 440,467
____ ____ ____ ____ ____

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EDUKID

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING STATEMENT OF COMPREHENSIVE INCOME)

FOR THE YEAR ENDED 5 APRIL 2024

Restricted Designated Unrestricted
Funds Funds Funds Total 2023
£ £ £ £ £
Net income/(expenditure) for the year
5,030		 (23,819) (12,252) (31,041) 9,188
Transfers between funds - (9,181) 9,181 - -
____ ____ ____ ____ ____
Net movement in funds 5,030 (33,000) (3,071) (31,041) 9,188
Fund balance b/fwd 5,641 211,000 3,667 220,308 211,120
____ ____ ____ ____ ____
Fund balance c/fwd 10,671 178,000 596 189,267 220,308
======== ========= ======== ========= =========

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EDUKID

CASH FLOW STATEMENT

FOR THE YEAR ENDED 5 APRIL 2024

Total Total
2024 2023
£ £
Net income/(expenditure for the reporting period
(as per the Statement of Financial Activities) (31,041) 9,188
Adjustments for:
Depreciation charges 1,488 1,648
(Increase)/decrease in debtors (77,713) (78,015)
Increase/(decrease) in creditors 124,022 49,203
____ ____
Net cash provided by operating activities 16,756 (17,976)
____ ____
Cash flows from investing activities
Purchase of tangible fixed assets (781) (919)
Change in cash and cash equivalents in reporting period 15,975 (18,895)
Cash and cash equivalents at the beginning of the reporting period 189,574 208,469
____ ____
Cash and cash equivalents at the end of the reporting period 205,549 189,574
____ ____

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EDUKID

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (The Charities SORP (FRS102). The reporting currency is the pound sterling (£).

The Charity is a public benefit entity.

The Charity’s legal form is that of a Trust, constituted in the United Kingdom.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be qualified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the Charity, are recognised when the Charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the Charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Income from investments is included in the year in which it is receivable.

Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.

No incoming resources are included in the SOFA net of expenditure.

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates:

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allowed directly to such activities and those costs of an indirect nature necessary to support them.

Where the Charity uses other Charities to provide services of disseminative funding on its behalf, these costs are included within Charitable expenditure.

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EDUKID

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Support costs are those incurred directly in support of expenditure on the objects of the Charity and include project management.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment – 3 years straight line basis

Taxation

The Charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Charity without further specific purpose and which the Charity may use for its purpose at its discretion.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Going concern

There are no material uncertainties relating to the Charity’s ability to continue operating for a period at least 12 months from the date of approval of these accounts.

2. TRUSTEES’ REMUNERATION AND BENEFITS

No Trustees received salaried remuneration or benefits during the year (2023: £nil).

Trustees’ Expenses and other payments

No amounts were reimbursed to Trustees during the year in respect of expenses.

3. STAFF COSTS

2024 2023
Wages and salaries 122,886 107,953
======== ========

The average monthly number of employees during the year was three. No employees received employee benefits of more than £60,000.

The average number of employees during the year was 5.

4. INDEPENDENT EXAMINERS FEES

2024 2023
Independent Examination 1,400 495
Other work 1,400 495
__ __
2,800 990
======== ========

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EDUKID

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

5. TANGIBLE FIXED ASSETS

5. TANGIBLE FIXED ASSETS
2024 2023
£ £
COST
At 6 April 2021 4,938 4,019
Additions 781 919
Disposals -
-
___ __
At 5 April 2022 5,719 4,938
___ __
DEPRECIATION
At 6 April 2021 3,405 1,757
Charge for year 1,488 1,648
Depreciation on disposals - -
___ __
At 5 April 2022 4,893 3,405
___ __
NET BOOK VALUE
At 5 April 826 1,533
======== ========
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Accruals and deferred income 174,025 50,003
======== ========

Income received in relation to Educational Trips is deferred where the trip in question has not taken place during the accounting year under review.

2024 2023
£ £
Deferred income at 6 April 2023 49,203 -
Released to Income and Expenditure account (49,203) -
Deferred in the period 172,225 49,203
___ ___
Deferred income at 5 April 2024 172,225 49,203
========= =========

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EDUKID

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

7a. MOVEMENT IN FUNDS
Net Transfers
Movement in between
At 6.4.23 funds funds At 5.4.24
£ £ £ £
Unrestricted funds
General Fund 3,667 (12,252) 9,181 596
Designated Growth Fund 76,000 - (13,000) 63,000
Designated Cambodia Fund 30,000 16,039 (16,039) 30,000
Designated Uganda Fund 60,000 35,831 (35,831) 60,000
Designated areas of conflict Fund - (7,107) 7,107 -
Designated Peru Fund 25,000 102 (102) 25,000
Designated UK Contingency Fund 20,000 - (20,000) -
Designated Educational Trips Fund - (68,684) 68,684 -
______ ______ _______ _______
214,667 (36,071) - 178,596
Restricted funds
Cambodia 1,965 (988) - 977
Uganda 1,985 6,800 - 8,785
Areas of conflict 291 (291) -
-
Peru 1,400 (491) - 909
Grants for staff costs - - - -
______ ______ ______ ______
5,641 5,030 - 10,671
______ _____ ______ ______
TOTAL FUNDS 220,308 (31,041) - 189,267
=========== ========== =========== ===========

Transfers between funds

Transfers between funds during the year were made to ensure that the funds in question remained adequate to fulfil the purpose for which they were established.

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EDUKID

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

7b. MOVEMENT IN FUNDS

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General Fund 62,586 (74,838) (12,252)
Designated Growth Fund - - -
Designated Cambodia Fund 53,273 (37,234) 16,039
Designated Uganda Fund 212,861 (177,030) 35,831
Designated areas of conflict Fund - (7,107) (7,107)
Designated Peru Fund 50,045 (49,943) 102
Designated Educational Trips Fund 20,000 (88,684) (68,684)
______ _______ _______
398,765 (434,836) (36,071)
Restricted funds
Cambodia 27,963 (28,951) (988)
Uganda 95,711 (88,911) 6,800
Areas of conflict 9,002 (9,293) (291)
Peru - (491) (491)
Grants for staff costs 1,000 (1,000) -
______ ______ ______
133,676 (128,646) 5,030
_____ ______ ______
TOTAL FUNDS 532,441 (563,482) (31,041)
========== ========== ==========

Purpose of unrestricted funds

General funds are donations and other incoming resources receivable or generated for the objects of the Charity without further specific purpose and when the Charity may use for its purpose at its discretion.

Designated funds are set aside by the Trustees for the purpose of ensuring the Charity can continue to operate in the event of a short term drop in funding, and in the case of the growth fund to allow the Charity to grow in a sustainable manner.

Purpose of restricted funds

The restricted funds relate to amounts received in donations specific to the funding of projects in the particular country which have yet to be paid across to the relevant project.

The Grants for staff costs relate to restricted funds received for the purposes of paying the Charity’s staffing costs in UK schools work.

8. RELATED PARTY TRANSACTIONS

There were no disclosable transactions with related parties during the current or previous year.

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