2022-12-31-accounts - Ethiopian Education Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees. Annual Report for the period Period stsrt date PetK)d end date 7022 2022 From To Section A Reference arid administration details Charty naffle EthKjpn Education FndatIOn Other names charfty i%known by EEF Regl$tgrod charlty number (If any) 1107364 Chartys prfncipal address 4A Cavendish PLace Boumemouth Poslcodo BH11RQ Nam•8 of th• eharty trustsos manage tho charfty Datts IfTh>tl¢¢T*IK49 TNst•e nam• Ollkè Ilf •y) NThof lor ljody) •nilllo nt trust•• Glen Forbes Chair Achlm Kram Marcio Sampo10 10 12 13 14 15 16 17 18 19 20 Names of the trustses for the charlty. If any, (for example, any custodlan Iruslees) Name Dates acted rf not forwhole TAR Aprfl 2tr20

Names and addresses of advisers (Optlonal inforniation) e of adviser Name Address Name of ehltrf executlve or names of senlor staff members (Optlonal lrfornmtlon) Section B Structure, overnance and mana ement D•s¢rfptlon of tho charws trusts Constitirtlon adopted 23 August 2004 Amended 27 Juty 20C Type ol govemkng document How the chartty is wnstituted UK Registered charty Trust88 selectlon methods Appolnted ty existing trustees Addltlonal gov•rn•nc• Issues (Optlonal Inforniallon) You may Choo to include addttional infomiatlon, where re18V8nt, about.. policies and procedures adopted forthe induction and training of trustees,. the charity's organlsatlonal structure and any wlder network wlth whlch the charity worts; relationship wrth any related parties. trust8as' consideratlon of mojor risks and the system and ptocedures to manage them. Section C Ob'ectives and activities To advanc4 the educatlonal standards of underpdvlleged chlldren l young adults In Ethics)ia and relieving I1r needs by engaging in charitabl8 InitteS amed at provxling education funding. accommodation and Imng support. Summary of the objects of th• charlty set o(rt in ils governlng document TAR Aprfl 2020

Provision of a(rommlation. food and transport to students as Is appropriate to their indNKlual needs Monrtoring of students, academic progress and of their general Irng condrtions and heath stsndards Maintaining contact with sponsors Fundraising adwilies to prov•Je additional inrtiatives and programme costs nol covered by sponsor contribution Probiding Universty grantsl support for undergraduate stuty ProTr•lding Masters. Dege stholarships Summary olthe maln actlvllles undertaken for th• publlc benefft In rnlatlon to these objects (Include wthln Ihls section the statutory doclaration that trustees have had regard to tho guidan¢4 Issued by Ihe Charlty Commlsslon on publk benefltl Addltlonal detslls of objecllvts and acllvltles Ioptlonal Inlornmllon) You may choose to ilUde rther statements. where relevant, abiwt.. policy on grantmakryig: policy programme related investment. contribution made ty volunteers. TAR Aprll 2020

Section D Achievements and performance Surnmary of the main achiovements of the charity during the year Ongoing management of the scholatship prDgrammé for tr exbsting year. Number of Students on the 88f universty programme: 34 (December 2022) Number of students on the eef secondary school programme.. 16 (December 2022>- 6 of which a bcated In Gambella. Total number of students graduated from university.. 185 (December 20221 Total number of Masters degr88 scholarships awarded.. 10 (December 2022) TAR Aprtl 2020

Section E Financial review At the end of 2022, the Chanty held £310,533 in cash reserves. This l figure allows the chanty to comfortabty cover the following points. Brief statement of the charity's policy on resenies The charity holds reserves for the following purposes.. 1. Funds raised in the financial year go towards expenses to b8 bome in future finanaal years (75%) 2. Cover against future infiation and exchange rate movemerrt in Ethiopia 3. Cover for unexpected sludenl $t5 (e.g medical issues) 4. Inabilrty of sponsors lo Continue support for the agreed period. Detalls of any funds materlally In deficit Further flnanclal rnvlew detalls (Owlonal InfornlIonl You may choose to include addrtional infornation, where r&l8vant about.. Ihe charity's principal sources of funds (induding any fundraislng)., how expendrtufe has supported the key objedives of the charity; Inv8Stm8nt policy and objectives including any ethical Instment pollcy adopted Section F Other optional information TAR Aprfl 2020

Section G Declaration The trustees declare that they have approved the trustees, report above. Signed on behalf of the charitys trust• SlgnatUf21s) Full name(s> Posltltsn leg Secretary. Chair. etc) Glen Fofoes Achin Krnm Trustee Truste8 02 Iiol2&23 /0 TAR Aprfl 2tr

	Charity No (if any) 1107364 Period start date 01/01/2022 To Period end date 31/12/2022 Ethiopian Education Foundation CC17a Annual accounts for the period	Charity No (if any) 1107364 Period start date 01/01/2022 To Period end date 31/12/2022 Ethiopian Education Foundation CC17a Annual accounts for the period
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 *Total incoming resources* 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	Details of own analysis Note	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
	S01 S02 S03 S04 S05	- - - - - 7,188 36,374 - 43,561 82,219 - - - - - 427 - - 427 16 - - - - - - - - - -
		7,615 36,374 - 43,988 82,236
		- - - - - - - - - 444 - - - - - - - - - - - 13,967 - 13,967 50,666 - - - - - - - - - -
		- 13,967 - 13,967 51,109 7,615 22,407 - 30,022 31,126
		- - - - -
		7,615 22,407 - 30,022 31,126
		- - - - - - - - - -
		7,615 22,407 - 30,022 31,126
		180,407 100,105 - 280,512 249,385
		188,021 122,512 - 310,533 280,512

25/09/2023

CC17a (Excel)

Section B Balance sheet

Unrestricted funds £ F01 - - -	Restricted income funds £ F02 - - -	Endowment funds £ F03 - - -	Total this year Total last year £ £ F04 F05 - - - - - -
-	-	-	- -
- - - 98,699	- - - 211,834	- - - -
			- - - - - - 310,533 280,512
98,699	211,834	-	310,533 280,512
			- -
-	-	-

98,699	211,834	-	310,533 280,512

98,699	211,834	-	310,533 280,512
			- - - -
- -	- -	- -

98,699	211,834	-	310,533 280,512
98,699 -	211,834	-	98,699 105,720 - - 211,834 174,792 - -
98,699	211,834	-	310,533 280,512
			Date of approval Print Name Glen Forbes Achim Kram Oct 2, 2023 Oct 2, 2023

25/09/2023

CC17a (Excel)

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:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

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

and with the Charities Act.
[** except for the following].

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

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial Reporting
Standards for Smaller Enterprises (FRSSE)”.
** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

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.

§ if no changes have been made to accounting policies then delete these words.

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.

§§ if no changes have been made to accounts for previous periods then delete these words.

25/09/2023

CC17a (Excel)

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

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.

25/09/2023

CC17a (Excel)

POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE

25/09/2023

CC17a (Excel)

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	Individuals Companies HMRC Gift Aid Receipts Trusts and Foundations Donations Other Income Total Total Bank Interest Total Voluntary Investment Other Total Analysis	This year Last year £ £ 34,270 60,217 2,104 1,014 4,487 13,000 7,188 3,502
		43,561 82,219
		- - - - - - - - - -
		- -
		427 16 - - - - - - -
		427 16
		43,561 82,219 427 16 - - - - - -
		43,988 82,235

25/09/2023

CC17a (Excel)

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 Fundraising trading costs Costs of generating voluntary income Governance costs	School Fees Offsite Student Allowance Clothes Food and Consumables Premises and Staff Costs Transport Trustee Travel Expenses Analysis Total Total Sundry Expenses Hostel Costs School Supplies Medical University Student Allowance Total Total	This year Last year £ £ 444 - - - - - - - -
		- 444
		- - - - - - - - - -
		- -
		4,152 4,495 90 - - 49 445 81 415 23 125 1,510 9,133 1,546 30,761 118 260 - - 6,400 5,032
		13,967 50,666
		- - - - - -
		- -

25/09/2023

CC17a (Excel)

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.

----- Start of picture text -----
Fundraising activity Charitable Activity Governance Activity Total Cost
Support cost type £ £ £ £
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Total - - - -
----- End of picture text -----

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 - -

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

25/09/2023

CC17a (Excel)

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

7.1 Staff Costs
The parts of the charity in which the employees work Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs 7.2 Average number of full-time equivalent employees in	Fundraising Charitable Activities Governance Other Total Total staff costs the year	This year Last year £ £ - 27,500 - 50 - 50
		- 27,600
		This year Last year Number Number - 1 - - - - - -
		- 1

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

25/09/2023

CC17a (Excel)

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

----- Start of picture text -----
Grants to Grants to
institutions individuals
Purpose for which grants made Total amount £ Total amount £
- -
- -
- -
- [ - ]
- [ - ]
- [ - ]
Total - -
----- End of picture text -----

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

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.

Names of institutions *Total grants to institutions* Purpose	Total amount of grants paid £ - - - - - - - - - -
	-

25/09/2023

CC17a (Excel)

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

9.1 Cost or valuation
		Freehold land		Other land &			Plant,		Fixtures,		Payments on account and assets under		Total
		& buildings		buildings			machinery	and	fittings	and	construction
							motor vehicles		equipment
		£			£		£		£		£		£
Balance brought forward			-			-		-		-		-	-
Additions			-			-		-		-		-	-
Revaluations			-			-		-		-		-	-
Disposals			-			-		-		-		-	-
Transfers *			-			-		-		-		-	-
Balance carried forward			-			-		-		-		-	-
9.2 Accumulated depreciation	and impairment provisions
	**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			-			-		-		-		-	-
9.3 Net book value
Brought forward			-			-		-		-		-	-
Carried forward			-			-		-		-		-	-

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.

25/09/2023

CC17a (Excel)

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

Carrying (market) value at beginning of year 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	£ - - - -
	-

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 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 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	10.2 10.3 Market value at year end Income from investments for the year £ £ - - - - - - - - - - - -
	- -

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
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

10.2
10.3
Market value at
year end
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

25/09/2023

CC17a (Excel)

Accs 2022

Final Audit Report

2023-10-02

Created: 2023-10-01 By: Sally Richardson (sally@clearcutaccounts.com) Status: Signed Transaction ID: CBJCHBCAABAAsQ5-T8CSDSw4wpnH9aGi1jvvTX1mk8z2

"Accs 2022" History

Document created by Sally Richardson (sally@clearcutaccounts.com) 2023-10-01 - 3:36:47 PM GMT

Document emailed to achim Kram (achim@ethiopianeducationfoundation.org) for signature 2023-10-01 - 3:38:28 PM GMT

Email viewed by achim Kram (achim@ethiopianeducationfoundation.org) 2023-10-02 - 8:50:21 AM GMT

Document e-signed by achim Kram (achim@ethiopianeducationfoundation.org) Signature Date: 2023-10-02 - 8:51:52 AM GMT - Time Source: server

Document emailed to glen_forbes@hotmail.com for signature 2023-10-02 - 8:51:54 AM GMT

Email viewed by glen_forbes@hotmail.com 2023-10-02 - 9:37:35 AM GMT

Signer glen_forbes@hotmail.com entered name at signing as Glen Forbes 2023-10-02 - 9:42:17 AM GMT

Document e-signed by Glen Forbes (glen_forbes@hotmail.com) Signature Date: 2023-10-02 - 9:42:19 AM GMT - Time Source: server

Agreement completed.

2023-10-02 - 9:42:19 AM GMT

Independent examiner's report on the accounts Section A Independent Examinerfs Report Report to the trustee31 Ethiopran Educatn Foundalion members of On a¢¢ounts for the year ended 31 December 2022 Charity no lif any) 1107364 Set out on pages Respective The chaWs trustees are reswnsible for the preparat of the accounts. responsibilities of The charity's Iruslees consKler Ihal an audrt is not requ1red for this year trustees and examin under section 144 of the Charrtses Act 2011 (the Charities Act) and that an irKlependent examinalion ¢s needed. It is my responsibiltty lo-. examine the accounts under sectK)n 14S of the Charrties Act. to follow the procedures laid down in the general Directions given by the Charity Commission (under sectn 14515llbl of the Charities Act, and to stste whether particutar matters have come to my attentJn. Basis of independent My examination was carried out in OrdanCe with general Directions given examiner's statement by the Charty CommissKin. An examination includes a review of the accounting records kept by the chafty and a comparison of the accounts presented with those records_ 11 also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from the tnjstees conceming any such matters. The procedures undertaken do not provKJe all Ihe evidence th would be required in an audit, and consequentty no opinion is given as to whether the accounts presenl a Irue and fair. VEW and the report is limited to those matters set out in the statement bebw. Independant In connection wrth examinal#)n, no matter has come to my attention examinevs statement lother than that disclosed below ') 1. whh gNes me reasonab cause to telieve that in, any material respect, the fequiremenls.. to keep accounting records in )rdance with sectK)n 130 of Ihe Char[tS Act," and lo prepare accounts which )rd with the accounting records and compty wrth the accounting requirerrents of the Charities Act have not been met". or 2. to Whh, in my opinK)n. attention should be drawn in order lo enable a proper understanding of the accounts to be reached. ' Ple8se delete the words in the brackets rf they do not apply. Signed: Date: 031iolZ Name: Relevant professional qualifi¢ation(sl or body (if any): IER March 2012

Address: 2 tsJeST O£s LO Ti*4tÉ& LE GQEO c£DS k12 1 lof Section B Disclosure Onty complete rf the examiner needs lo highlight material problems. Glve here brief details of any items that the examiner wishes to discre. IER March 2012