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2021-12-31-accounts

From

To

Trustees' Annual Report for the period

Period start date Period end date 01 Jan 2020 31 Dec 2020

Section A Reference and administration details

Charity name Ethiopian Education Foundation

Other names charity is known by EEF

Registered charity number (if any) Charity's principal address

1107364

4A


4A
4A
Cavendish Place
Bournemouth
Postcode BH1 1RQ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Glen Forbes Chairman
Marcio Sampaio Project Director

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

April 2020

1

Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Constitution adopted 23 August 2004 Type of governing document Amended 27 July 2006 (eg. trust deed, constitution)

UK Registered charity How the charity is constituted

Appointed by existing trustees Trustee selection methods

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

To advance the educational standards of underprivileged children / young adults in Ethiopia and relieving their needs by engaging in charitable initiatives aimed at providing education funding, accommodation and living support.

TAR

April 2020

2

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

TAR

April 2020

3

Section D Achievements and performance

Summary of the main achievements of the charity during the year

TAR

April 2020

4

Section E Financial review

Brief statement of the

At the end of 2021, the Charity held £280,512 in cash reserves. This figure allows the charity to comfortably cover the following points.

charity’s policy on reserves

The charity holds reserves for the following purposes:

  1. Funds raised in the financial year go towards expenses to be borne in future financial years (70%)

  2. Cover against future inflation and exchange rate movement in Ethiopia

  3. Cover for unexpected student costs (e.g medical issues)

  4. Inability of sponsors to continue support for the agreed period

Details of any funds materially

in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

Section F Other optional information

TAR

April 2020

5

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary, Chair,
etc)
Date
Glen Forbes (Sep20, 2022 14:23 GMT+2)
Glen Forbes

 Marcio Sampaio (Sep21, 2022 11:29 GMT+2)
Marcio Sampaio
Glen Forbes Marcio Sampaio

Trustee		 Trustee

Sep20, 2022		 Sep21, 2022

TAR

April 2020

6

Final Audit Report

tar - 2021

2022-09-21

Created: 2022-09-20 By: Sally Richardson (sally@clearcutaccounts.com) Status: Signed Transaction ID: CBJCHBCAABAA6CGrh5zSwV1VLLrNHpbSHEJnfx1JF2Xn

"tar - 2021" History

Document created by Sally Richardson (sally@clearcutaccounts.com) 2022-09-20 - 11:07:39 AM GMT

Document emailed to glen_forbes@hotmail.com for signature 2022-09-20 - 11:08:59 AM GMT

Email viewed by glen_forbes@hotmail.com 2022-09-20 - 11:12:28 AM GMT

Signer glen_forbes@hotmail.com entered name at signing as Glen Forbes 2022-09-20 - 12:23:12 PM GMT

Document e-signed by Glen Forbes (glen_forbes@hotmail.com) Signature Date: 2022-09-20 - 12:23:14 PM GMT - Time Source: server

Document emailed to marciojrsampaio@hotmail.com for signature 2022-09-20 - 12:23:16 PM GMT

Email viewed by marciojrsampaio@hotmail.com 2022-09-21 - 9:28:43 AM GMT

Signer marciojrsampaio@hotmail.com entered name at signing as Marcio Sampaio 2022-09-21 - 9:29:23 AM GMT

Document e-signed by Marcio Sampaio (marciojrsampaio@hotmail.com) Signature Date: 2022-09-21 - 9:29:25 AM GMT - Time Source: server

Agreement completed. 2022-09-21 - 9:29:25 AM GMT

Ethiopian Education Foundation Ethiopian Education Foundation Ethiopian Education Foundation Charity No (if any) 1107364 CC17a
Annual accounts for the period
Period start date 01/01/2021 To Period end date 31/12/2021
Section A Statement of financial activities
Recommended categories by activity
Details of own
analysis
Note
Incoming resources (Note 3)
Incoming resources from generated funds
Voluntary income
S01
Activities for generating funds
S02
Investment income
S03
Incoming resources from charitable activities
S04
Other incoming resources
S05
S06
Resources expended (Notes 4-8)
Costs of Generating Funds
Costs of generating voluntary income
S07
Fundraising trading costs
S08
Investment management costs
S09
Charitable activities
S10
Governance costs
S11
Other resources expended
S12
S13
S14
S15
S16
S17
S18
S19
S20
S21
Gains and losses on investment assets
Net movement in funds
Total funds brought forward
Total funds carried forward
Total resources expended
Net incoming/(outgoing) resources before transfers
Gross transfers between funds
Net incoming/(outgoing) resources before other recognised
gains/(losses)
Other recognised gains/(losses)
Gains and losses on revaluation of fixed assets for the charity’s
own use
Total incoming resources		 Unrestricted
funds
Restricted
income
funds
Endowment funds
Total this
year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05
- - - - -
4,487 77,732 - 82,219 144,806
- - - - -
16 - - 16 93
- - - - -
- - - - -
4,504 77,732 - 82,236 144,899
- - - - -
- 444 - 444 2,797
- - - - -
- - - - -
- 50,666 - 50,666 92,281
- - - - -
- - - - -
- 51,109 - 51,109 95,079
4,504 26,623 - 31,126 49,820
- - - - -
4,504 26,623 - 31,126 49,820
- - - - -
- - - - -
4,504 26,623 - 31,126 49,820
175,903 73,482 - 249,385 199,565
180,407 100,105 - 280,512 249,385

03/08/2022

CC17a (Excel)

1

Section B Balance sheet

Fixed assets
Tangible assets (Note 9)
Investments (Note 10)
Total fixed assets
Current assets
Stock and work in progress
Debtors (Note 11)
(Short term) investments
Cash at bank and in hand
Total current assets
Creditors: amounts falling due
within one year (Note 12)
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
one year (Note 12)
Provisions for liabilities and charges
Net assets
Funds of the Charity
Unrestricted funds
Restricted income funds (Note 13)
Endowment funds(Note 13)
Total funds
Signed by one or two trustees on behalf of
all the trustees		 Note
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10
B11
B12
B13
B14
B15
B16
B17
B18
B19
B20		 Unrestricted
funds
£
F01		 Restricted
income
funds
£
F02		 Endowment
funds
£
F03		 Total this year
Total last
year
£
£
F04
F05		 Total this year
Total last
year
£
£
F04
F05
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
105,720 174,792 - 280,512 199,566
105,720 174,792 - 280,512 199,566
- - - - -
105,720 174,792 - 280,512 199,566
105,720 174,792 - 280,512 199,566
- - - - -
- - - - -
105,720 174,792 - 280,512 199,566
105,720 105,720 110,443
- - -
174,792 174,792 89,123
- - -
105,720 174,792 - 280,512 199,566
Signature Date of
approval
Print Name
,2022 14:52 GMT+2) Glen Forbes Sep 16, 2022
Glen Forbes(Sep16
Achim Kram (Sep 17, 2022 08:52 GMT+2)
Achim Kram		 Achim Kram Sep 17, 2022

03/08/2022

CC17a (Excel)

2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

• and with* ✓ Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

[** except for the following].

Give details in this box if a different standard has been followed.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

Give details in this box of any material changes that have been made.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years (§§ except for the following).

Give details in this box of any material changes that have been made.

03/08/2022

CC17a (Excel)

3

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

These are included in the Statement of Financial Activities (SoFA) when:

INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources • the charity becomes entitled to the resources;
• the trustees are virtually certain they will receive the resources; and
• the monetary value can be measured with sufficient reliability.
Incoming resources with related Where incoming resources have related expenditure (as with fundraising or contract income)
expenditure the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional
entitlement to the resources.
Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
which they relate.
Contractual income and performance This is only included in the SoFA once the related goods or services have been delivered.
related grants
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when
receivable.
Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources
expended) where the benefit to the charity is reasonably quantifiable, measurable and material_._
The value placed on these resources is the estimated value to the charity of the service or
facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the
trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from
revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the
charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of trustee
meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service
or output to be provided, such grants are only recognised in the SoFA once the recipient of the
grant has provided the specified service or output.
Grants payable without performance These are only recognised in the accounts when a commitment has been made and there are
conditions no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs Support costs include central functions and have been allocated to activity cost categories on a
basis consistent with the use of resources, eg allocating property costs by floor areas, or per
capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use by charity These are capitalised if they can be used for more than one year, and cost at least £500. They
are valued at cost or a reasonable value on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the year
end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress These are valued at the lower of cost or market value.

03/08/2022

CC17a (Excel)

4

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

03/08/2022

CC17a (Excel)

5

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Activities for generating funds
Investment income
Incoming resources from charitable
activities
Voluntary income		 Analysis This year
Last year
£
£		 This year
Last year
£
£
Individuals 60,217 72,263
Companies 1,014 37,256
HMRC GiftAidReceipts 4,487 10,726
Trusts andFoundationsDonations 13,000 23,444
Other Income 3,502 1,117
Total 82,219 144,806
Rental Income - -
Compensation - -
- -
- -
- -
Total - -
Bank Interest 16 93
- -
- -
- -
- -
Total 16 93
Voluntary 82,219 144,806
Investment 16 93
Other - -
- -
- -
Total 82,236 144,899

03/08/2022

CC17a (Excel)

6

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

Charitable activities
Governance costs
Fundraising trading costs
Costs of generating voluntary income		 Analysis This year
Last year
£
£		 This year
Last year
£
£
SundryExpenses 444 2,797
- -
- -
- -
- -
Total 444 2,797
- -
- -
- -
- -
- -
Total - -
Hostel Costs 4,495 9,825
School Fees
Offsite Student Allowance - -
Clothes 445 615
School Supplies 415 650
Medical 125 301
Food and Consumables 9,133 20,366
Premises and Staff Costs 30,761 53,359
Transport 260 200
Trustee Travel Expenses - 1,308
UniversityStudent Allowance 5,032 5,659
Total 50,666 92,281
- -
- -
- -
Total - -

03/08/2022

CC17a (Excel)

7

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

Support cost type Fundraising activity
£		 Charitable Activity
£		 Governance Activity
£		 Total Cost
£
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Total - - - -

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses
Nature of the expenses
Total amount paid		 This year Last year
2 2
Travel Travel
- 1,308

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the
independent examiner or auditor
Independent examiner’s or auditors' fees for reporting on the accounts		 This year
£		 Last year
£
None None
None None

03/08/2022

CC17a (Excel)

8

Section C Notes to the accounts (cont)

Note 7 Paid employees Please complete this note if the charity has any employees.

7.1 Staff Costs

Total staff costs
the year		 This year
£		 Last year
£
27,500 30,000
50 -
50 714
27,600 30,714
This year
Number		 Last year
Number
Fundraising 1 1
Charitable Activities - -
Governance - -
Other - -
Total 1 1

Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs 7.2 Average number of full-time equivalent employees in the year The parts of the charity in which the employees work

7.3 Defined contribution pension scheme

Please complete if a defined contribution pension scheme is operated. The charity operates the NEST scheme

The costs of the scheme to the charity for the year

The amount of any contributions outstanding at the year end

The amount of any contributions prepaid at the year end

This year Last year
£ £
0
0
0

03/08/2022

CC17a (Excel)

9

Section C Notes to the accounts (cont)

Note 8 Grantmaking

Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.

8.1 Total value of grants

8.1 Total value of grants 8.1 Total value of grants
Purpose for whichgrants made Grants to
institutions
Total amount £		 Grants to
individuals
Total amount £
- -
- -
- -
- -
- -
- -
Total - -
£
If the charity has made grants to particular institutions that are material in the context of its grantmaking please
give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient
information should be given to provide a reasonable understanding of the range of institutions supported.
8.1 Grantmaking costs
If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated
with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.
Support costs of grantmaking
8.3 Grants made to institutions
Names of institutions Purpose Total amount of
grantspaid £
-
-
-
-
-
-
-
-
-
-
Total grants to institutions -

03/08/2022

CC17a (Excel)

10

Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

Freehold land
& buildings
Other land &
buildings
Plant,
machinery and
motor vehicles
Fixtures,
fittings and
equipment
Payments on account and assets under
construction
Total
£
£
£
£
£
£
Balance brought forward
- - - - - -
Additions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers
- - - - - -
Balance carried forward
- - - - - -
Basis*
SL or RB
SL or RB
SL or RB
SL or RB
SL or RB
 Rate
Balance brought forward
- - - - - -
Depreciation charge for year
- - - - - -
Impairment provisions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers
- - - - - -
Balance carried forward
- - - - - -
Brought forward
- - - - - -
Carried forward
- - - - - -
9.2 Accumulated depreciation and impairment provisions
9.3 Net book value*		 Freehold land
& buildings
£		 Other land &
buildings
£		 Plant,
machinery and
motor vehicles
£
Fixtures,
fittings and
equipment
£		 Payments on account and assets under
construction
£		 Total
£
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

03/08/2022

CC17a (Excel)

11

Section C Notes to the accounts (con

Note 10 Investment assets

Please complete this note if the charity has any investment assets.

10.1 Fixed assets investments

Add:additions to investments at cost
Less:disposals at carrying value
Add/(deduct):net gain/(loss) on revaluation
Carrying (market) value at end of year
Carrying (market) value at beginning of year		 £
-
-
-
-
-

Please provide below:

10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.

10.3 A breakdown of the income from investments agreeing with SOFA row S03.

Investments in subsidiary or connected undertakings and companies
Securities not listed on a recognised Stock Exchange
Cash held as part of the investment portfolio
Other investments
Total
Investments listed on a recognised stock exchange or held in common
investment funds, open ended investment companies, unit trusts or
other collective investment schemes
Analysis of investments
Investment properties		 10.2
Market value at
year end
£		 10.3
Income from
investments for
the year
£
- -
-
 -
- -
- -
- -
- -
- -

10.4 Material investment holdings

If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.

Investment held

Market Value

03/08/2022

CC17a (Excel)

12

Accounts 2021

Final Audit Report

2022-09-17

Created: 2022-09-16 By: Sally Richardson (sally@clearcutaccounts.com) Status: Signed Transaction ID: CBJCHBCAABAA2jM94LSwlwDnjmeHDIbxZQgYZ1mFqeJw

"Accounts 2021" History

Document created by Sally Richardson (sally@clearcutaccounts.com) 2022-09-16 - 12:23:41 PM GMT

Document emailed to glen_forbes@hotmail.com for signature

2022-09-16 - 12:25:20 PM GMT

Email viewed by glen_forbes@hotmail.com 2022-09-16 - 12:40:32 PM GMT

Signer glen_forbes@hotmail.com entered name at signing as Glen Forbes 2022-09-16 - 12:52:42 PM GMT

Document e-signed by Glen Forbes (glen_forbes@hotmail.com) Signature Date: 2022-09-16 - 12:52:44 PM GMT - Time Source: server

Document emailed to achim@ahkram.com for signature 2022-09-16 - 12:52:46 PM GMT

Email viewed by achim@ahkram.com 2022-09-17 - 6:52:15 AM GMT

Signer achim@ahkram.com entered name at signing as Achim Kram 2022-09-17 - 6:52:54 AM GMT

Document e-signed by Achim Kram (achim@ahkram.com) Signature Date: 2022-09-17 - 6:52:55 AM GMT - Time Source: server

Agreement completed.

2022-09-17 - 6:52:55 AM GMT

Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl Ethiopian Education FwndatvJn rnernbers of On ac¢ounts forthe year ended 31 December 2021 Charity no lif any) 1107364 Set out on pages R•$pe¢tive The charitvs tnjstees are resF4Jnsibbe for the prepar*NJn of the accounts. responsibilities of The charity's trustees consider that an audrt is not required for this yeaf trustees and examiner under section 144 of the Charities Act 2011 (the Charrties Actl and that an Independent examination is needed. It is my responsibilty to". examine the accounts Ur￿er sectK)n 145 of the Chafrties Act, to follow the procedures k2id down in the general Directions given by the Charity CommiSs￿n (under section 145151{bl of the Charities Ad, and to stale whether particuSar matters have come to my allenlion. Basls of independent My examinalion was carried out in accordance with general Directions given examiner's sLitement by the Charty Commkssion. An examination includes a review of the accounts.ng records kept by the charity and a comparison of the accounts presented wtth t￿ records. It also includes consideration of any unusual ttems or discbsures in the aecounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provKle all the evidence Ihal would be required in an audit. and consequenlty no opinion is given as to whether the accounts present a 'true and fairf view and the re￿rt is limr(ed to those matters set out in the statement bebw. Independent In connection wth my examinatk)n. no matter has come to my attention examinerfs statement lother than that disclosed below"} 1. which gives me reasonable cause to believe that in, any material re$pe¢t. the requirements". to keep accounting records in accordance wrth section 130 of the Charit￿$ Act," and to prepare accounts which accord with the accounting records and compty wrth the accounting requirements of the Charrties Act have not been rrt.. or 2. to whth, in my opinion. attent￿n shoukl be drawn in order to enable a proper understanding of the accounts to te reached. ' Please delete the words in the brackets rf they do not 8ppIy. Sign•d: Date: 2ql?/zL Name: Ckliy Relevant professional qualificationlsl or body (if any): IER March 2012

Address: 2 kn)o<J L￿,1 &Lt}x/oLi ij H 2 1 {-(-", Section B Disclosure Onty complete rf the examiner needs to highlight material problems. Give here brief details of any items that the examiner wishes to disclose. IER March 2012