EDUKID REPORT OF THE TRUSTEES AND UNAUDITED FII¥JANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 EDUKID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 The Trnslees present iheir report with the financial sialements of ihe Charily for the year ended 5 April 2025. REFERENCEANDADMINJSTRATIVE DETAILS R¢gi5tered Charity Number: 1099058 (England and Wales) Principal Address". 5 Hart Street, Bideford, Devon EX39 2NB Trustees: B Duhig R Dc Wr¢¢dc N Wormington A HaTdy M Kensett A Watson (Chaimian) (appoint¢d 31 January 2025) (Secretsry) Chief Exeeutivt: C TuTner Independent Examlner: Edward Meardon FCA R T Marke & C.0 Ltd 69 Hi¥h Street Bidelord Devon EX39 2AT Bankers: Lloyds Bank Pl¢ 25 Gresham Street London EC2V 7HN Natwest GTOUP 36 St Andrew Square Edinburgh EH2 2YB STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is ConSti￿ted and controlled by its governing document, a deed of trust. Recruitment and appointment of trllstees Trustees are appointed by resolution of the Trustees. Organisational structure The Trustees responsible for the btrdtegic mLlllilbyement of the charity. policy inakin¥F 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 duly lo identify and revie￿ Ihe risks to which the charity is exposed and io ensure appropriate contrlils are in pla¢¢ to providc r¢asonablc assuran¢¢ against fraud and ¢rn)r. Thc trnstcc8 hal'c considcrcd thc known ri8ks to which thc Charity is cxpo%cd and mcct rcgularly to rcvicw thc%c risk% and kccp updatcd thc plans to minimi%c thc impact on thc c.harity should any of the8c ri.%k% matcrialisc. EDUKID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 OBJECTIVES AND ACTIVITIES Objects of the Charlty The objects of (he c.harity are to advance education and relieve povelly. working in accordance with Christian principles. whilst not imposing our vie￿.$. Progr¢$s against Charity obj¢ctiv¢5 The ObJ￿t1￿.e of this financial year has been to expand our Global Citizenship Programme IGCP) to UK and international school%. We achieved links into a further 7 countTies and have expanded our UK schoo15 database. Financially, our aim was to mait]tait] the current tumover whilst Edukid transition to a more remote operational strnctUTe, to reduce costs and reach a wider audience. One third of our school income now corne5 from remote WOTking and we are on target to reach our target figure of 50°/0 by the end of the next liiiancial year. The last stage tsl'our GC.P tts the eduLation seLtoi was also launched this year- univcrsities. This now Lompletes our pathway from year I priinary school through the entire eduLation system. which has been a long-temi objeLtive lor the last five years. Factors aftTecting the achievcmcnt of the Charity objectives The first half of the year saw good growth and high numbers attending our overseas trips. In contrast the second half of Ihe year Sa￿ a big shift. In September VAT was introduced on UK private sch(yolq, which led to uncertainty and low confidence among the sector. Edukid lost it'5 biggest private school contract dui'ing this peTiOd. The first quarter of the academic year also had a lower than expected uptake in oveTseas trips, with notably moTe families having less a￿ailable money to spend. The October Peru trip wa5 cancelled diie to a national tran5POrt strike, which also led to a drop in profits. Despite this tl)e last quarter of our financial year saw an upturn. witli a number of new Sch￿1$ signing partnership agreements. Applications for sch(yJls committing to overseas trips doubled during tl)is period. Aetlvltles of the Charlty 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. It also tiihcs moncy to hclp childr¢n living in Conflict, via non-political ¢mpow¢rm¢nt programmes. The Charity provides further support lo help break down the barriers to education and promote equality and the rights of a child as well as climate change projects. This includes therapy, IT, solar, farming, shelters and housing. Public Benefit Statement A& trustees uf the Churity we hdve Lomplied with vur duty under Charity Law tu have due regurd to guidance published by the Charity Commisbivn vn public btnefit. As well as directly benefiting the children and young people to whom it provides edueation and financial support. the Charity benefits society as a whole by furthering education and ultimately reducing poveity in the countries in which it operates. EDUKID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 Futurc plans for the Charity Looking to the year ahead, Edukid is plans to launch a new corporate business model aimed at university graduates and large national and intemaiional businesses. This will refleci ihe many of the key sirands used in our GCP. thus providing a unique empowernient model for companies and their personnel. The above approa¢h will al80 enable Ediikid to diversify and grow. The Uganda programme will look to build on a vocational training programme for young female adults who have missed ediication. We are also working ivith partners to ¢r¢ate a substantial mi¢ro-finan¢e initiative to enable graduates to buy the tools they need to ¢reale an income. Cainbodia is WOTking well and to full capacity on all fronts, so t]0 change 15 envisaged in the next 12 month5. Our Peru programine Teceived it's first oversea5 trip which led to sponsorsliip at]d emeTgency support to families in crisi5. The cancellation of the October trip means we aTe financially behind on our three-year bu5ine5s plan and this will impact on the Edukid resetves. Future dlreetlon of the Charlty The Department ol. EduLation has given Edukid notlLe of reduced I'uiiding due to department Luts. This will reduced subsidies for travelling studcnts and thtrefore reduLed inLome foi the next 12 months. However. long terin the education seLtor will Conlinue io be a key. Edukid plan ILI off-set much of this income with expansion to the corporate sector. ACHIEVEMENT AND PERFORMANCE The Duke of Edinburgh Awards arni to our GCP has seen a 130°/0 increase in turnover and is providing a inore cost effective operdtional model. The cancelled Peru trip and difficult siart to the academic year, led to a staff redundancy and a remporary drop in active partnering schools. A grani towards the biiilding of a girls shelter for 15-20 in Peru was secured, with plans designed and building about to stsrt. Funding towards the nexi four years of our empowernient and vocaiional training programme in Uganda was also secured. Student5 and adult5 on oiir overseas trips spoke of life-changing moinents and the positive impact it had on their own personal lives. This in turn led to more standing orders. 2,580 children living in poverty are CU￿entlY in our overseas educational programme, plus 15 at university alld 80 in vocational training. Our Chief Operations Office {fornier GCP graduate) Kara Jeremiah is due to finish her PHD in International Developinent this year. Likewise, another meniber ot staff - Chloe Lvvelass, is also due tv finish hei MasteTS in IntetnatlOIliil Development thib yeiw. Rosie Jones- our fouith appret)tice l)as already grnduated this year. Our annual donaiion to countries in conflict led to £800 being donated to a hospital in Ga7a this rnoney will be used to help towards the rebuilding of Ihe hospital and provide Iherapy to children affected by the conflict. A further £600 was donated to a Charity in Afghanistan to help girls access education. This year four Cambodian students graduated from university this year. One student in Uganda graduated university and two others have university scholarships. Around 23,000 studcnts are involved in E.dukid's Global Citizenship Awards Prograjn. EDUKID REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 Indicators used to asscss pcrformanec Edukid measure's it's perforniance over the year in iwo ways. Firstly. Ihe number of children overseas we support into cducation and %cci)ndly thc quality of our %crvicc to %upportcr8 and %chools within thc UK. The success of our work ii) Cambodia has led to two villages no longer needing support, hence the slight drop in the number of children Edukid supported the year. Using the above measures of perforniance Edukid triistees conclude that quality of delI￿erY and the number of supported children living in poverty has been niet. The income generated was below taTget, due to the issiies inentioned above. FINANCIAL REVIEW The Charity reported a deficit of income over expenditure of £33,081 on unr¢stri¢t¢d ￿ndS not designated for sp¢cific purposes in the }'ear. Unrestricted fiinds stood at £iO,889 at 5 April 2025. A do1]￿tIon of £17.5(M) wa5 received for helping girls in Uganda acces5 vocatiot]al training and this is to be Spent gradually ovei the next 4 years, hence the carry ovei. Thi5 leaves the tLCtual 5Utplus standin¥ at £13,(H)O. which will be used tOWLiTd5 off setting the Teduced payments from the Departtneiit ot'Education. The Trustees have established Designated Funds as follows.. Grow'th Fund A sum of £63,000 from a legac}, received in a previous }'ear which was set aside to allow the c.harity to grow sustainably over the next few years. Cambodia Project Commitment Fund A sum of £30,000 ha% bccn 8ct a%idc to cnsurc that thc Schools projcct in Cambodia can continuc in thc cvcnt of a 8hort tcrm drop in funding. Thi8 is bascd on thc likcly costs of support ￿nding for a 12 month pcriod. Uganda Project Commitment Fund A siini of £80,000 has bccn sct aside to ensi￿£ that the Schools project in Uganda can continue in the event of a short terni drop in funding. This is based on the likely cost of support fundin¥ for a 12 month peTlOd. Peru Projeet Commitment Fund A suin of nesFative £25,(K)O has beeli set aside to set up a new Schools pioject in Petu and ensure that it can still launch in the event of d short temi diop in funding. Principal funding sourccs Standing orders ii)creased significantly over the year as did Turing Funding for overseas trips. 1-3 year grantltrust applications were lower than lasi year. UK schools turnover saw a very significant increase. Arrangements for setting the remuner4ton of the Charity's key personnel Edukid truslees aspire lo set s&tTsalaries on a similar pay scale io UK leachers. Whilst progress is being made. income lo dale ha5 not enabled this to happen. Salarics arc trackcd to UK inflation and a bonus systcm is proportionatcly in placc to rcward markcting staff whcn ￿rn0Ver incieases. Salaries are tracked to acknowledge the qualifications, experience and skill set of individuals and are designed to al￿'ay$ be lower than rnarket aver(i¥es to ensure W