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2025-09-30-accounts

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

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Founded 2004
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For-Ethiopia 21[st] Annual Report and Financial Statements for year to 30[th] September 2025

www.For-Ethiopia.com

Registered Charity Number 1108526

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Reference and administrative details

For the year ended 30 September 2025 For the year ended 30 September 2025
Charity number 1108526
Registered office and 34 Bibury Crescent
operational address Bristol
BS9 4PW
Patron Professor Alice Roberts
Trustees The trustees who served during the year and up to the date of this report
were as follows:
John Rosewell (Chair)
Jennifer Dickinson (Treasurer)
Tigist Grieve (Vice Chair)
Robert Grieve (Vice Chair)
Peter Harrison (Secretary)
Sarah Taylor
(appointed 16 April 2026)
Bankers Barclays Bank Plc
Leicester
LE87 2BB
Independent examiner Rupert Taylor
5 Mount Pleasant
Millbrook
Torpoint, Cornwall
PL10 1BH
Contact Email:
information@for-ethiopia.com
Website:
www.for-ethiopia.com
Telephone: 0117 377 4347

1

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For – Ethiopia

Chair’s Introduction

For the year ended 30 September 2025

This has been a year of transition and groundwork for our charity that started with celebration and challenge and ends now with a renewed sense of purpose and a clear focus for the future!

In the UK: the Trustees Board gave considerable time in its meetings to considering the Charity Excellence Framework to ensure shared understanding of key governance values and working principles. We recruited two consultants as Funding Manager and Communications Officer and also hired a designer to improve our website. We finalised our 3 year development plan for 2026-28. Our priority now is to recruit at least two more trustees to improve our strategic oversight. We have been planning to expand the team and our funding ambitions in order to increase the scope of our development project.

Our fundraising efforts have been successful. All costs budgeted for development projects in Ethiopia for 2025 were covered. For more details see Section 6 Financial Review. We are determined to maintain careful financial management in response to fluctuating exchange rates.

In Ethiopia: we are paying for an independent evaluation of the impact of our development programme over the last twenty years, in order to learn any lessons that are presented to us, while using the success stories of our achievements as a springboard for the future. We are also assisting FDAE in its restructuring and capacity building. For a report on the work completed over the year see Section 4 Achievements and Performance.

Finally, I want to put on record my gratitude to my fellow Trustees for their commitment, hard work and support throughout the year. Special thanks go to Jennie Dickinson for her expert management of our finances; to Pete Harrison for his meticulous work on risk management, recruitment and building links with new supporters; to Rob Grieve for massive administrative input on digital resources and constant vigilance on deadlines; to Tigist Grieve for her dedication to our shared vision and deep understanding of the Ethiopian community in Ejerie District. Above all we are immensely grateful to our regular individual donors and trusts, to Woodlands Church, George Muller Trust and Ethiopia Aid together with many supporters for their continued generosity and encouragement, which makes all this life changing work possible. Thank you one and all.

John Rosewell, Chair

15 June 2026

2

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For – Ethiopia

Report of the Trustees

For the year ended 30 September 2025

STRUCTURE, GOVERNANCE & MANAGEMENT

For Ethiopia was formally constituted with the signing of the Trust Deed on 26th September 2004 by the four original trustees. Registration with the Charity Commission was achieved on 10th March 2005.

The trustees who held office during the financial year and at the date of this report are set out on page two. The Trust Deed states that there must be at least three trustees. Apart from the founding trustees, every trustee must be appointed for a term of three years by a resolution of the trustees passed at a special meeting called under clause 15 of this deed. The Board met 11 times during the year.

The Trust continues to work collaboratively with its partner organisation ‘For Development Association Ethiopia’ (FDAE), an NGO based in Addis Ababa (Ethiopian registration number 0573), in assessing and selecting development projects, raising funds for those projects, supervising the work, monitoring the impact of the resulting development and maintaining the effectiveness of the projects. All projects must meet the criteria set by the charity before the money is sent to Ethiopia. A potential conflict of loyalty has been declared in that the founder and general manager of FDAE, an Ethiopian national, is a related party to two of the UK trustees. This is managed by our Conflicts of Interest policy.

Currently the work in Ethiopia is focussed on rural communities in Ejerie District where Addis Alem is the administrative centre. Our procedure for selection of projects and beneficiaries incorporates the following safeguards:

RISK MANAGEMENT

The trustees recognise that some areas of our work require the acceptance and management of risk if our key objectives are to be achieved. We recognise that risk may be involved in initial project assessment and implementation. Major risks, for this purpose, are those that may have a significant effect on:

The following framework is central to ensuring adequate risk assurance:

The trustees are determined to satisfy themselves that adequate procedures are in place to manage the risks identified. We maintain Public and Employees Liability Insurance with Zurich Insurance, together with Trustee indemnity. The exchange rate is monitored regularly and taken into consideration as to the timing of sending funds to Ethiopia.

Contact with the FDA-E staff and stakeholders was maintained through monthly updates, reports, phone calls, emails, WhatsApp, Telegram communications and Zoom meetings. Two self-funded trips to Ethiopia took place in 2025 by Dr Tigist Grieve in April and July. These trips enabled evaluation of all ongoing projects.

3

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For – Ethiopia

Report of the Trustees

For the year ended 30 September 2025

Meetings were held with stakeholders and community representatives with a focus on ethics and safeguarding. There were also opportunities as well for training of FDAE staff with a new emphasis on listening to the children’s voice and for enrichment sessions with students.

RISK REGISTER

We keep our risk register and policy framework up-to-date through regular engagement with other UK based small charities that work in Ethiopia and positive use of our membership of the South West International Development Network (SWIDN). We are also able to benefit from the training opportunities offered by Burton Sweet. As a result we regularly refresh Safeguarding and other governance policies and support our partner FDA-E with the development and implementation of theirs.

OUR CHARITABLE OBJECTS

For Ethiopia is a charity operating from Bristol, UK which aims to enable sustainable development to help people in Ethiopia move towards self-sufficiency. Our Trust Deed defines the Charity’s Objects as being:

To relieve poverty and sickness, to preserve and protect health and advance education, among the people of Ethiopia who are in need.

In consultation with the Charity Commission, we are considering making changes to the Trust Deed in order to ensure it is fit for purpose over the next twenty years.

PUBLIC BENEFIT

The For-Ethiopia Trust’s principal activity for public benefit continues to be supporting the development of services in education and health for rural communities in the Ejerie District of Ethiopia, particularly for the wellbeing of girls and young women. We refer to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning future projects.

ACHIEVEMENTS AND PERFORMANCE IN 2024/25

In Ethiopia:

Throughout the year we have continued to meet our commitment to our partner in Ethiopia, For Development Association, Ethiopia (FDAE) with a budget of £61,100 for their vital work in 2025. A huge amount has been achieved this year.

Through FDAE we have been able to support 36 girls through the Underhill Scholarship scheme, 51 young women in higher education and expanded the Hardship Fund to assist 100 children including for the first time, 6 children with parents in prison. Additionally, 30 students (15 boys and 15 girls) are receiving special needs support. Furthermore, reusable sanitary packs were distributed to girls in a number of different schools with training provided by a qualified health professional.

4

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For – Ethiopia

Report of the Trustees

For the year ended 30 September 2025

Of course, the year was not without its challenges for FDAE who have had to contend with a 100% office rent increase, staff illness and bereavement, the ever present impact of cost of living crisis and related recruitment difficulties. In spite of all this their commitment to the young people we serve has been unwavering.

Thank you all for your continued, invaluable support on this remarkable journey.

PLANS FOR THE FUTURE

After consultation with FDAE and its stakeholders, we prepared a proposal for the 2026 development programme to the value of approximately £46,000 which was approved by the Ethiopian government.

This is designed to continue the Underhill Scholarship Scheme for rural girls in secondary school providing high profile support for their educational opportunities.

In addition, there will be further investment in disability provision and an extension of the Hardship Funding Scheme across four schools with extra support packages including laptops to take some individuals through their higher education.

Prudence House Learning Centre requires some more work to make it fully functional including furniture into some of the rooms.

We have commissioned an independent consultant to carry out an impact evaluation exercise on our twenty years of work in Ejerie district, Ethiopia. This will enable us to learn from our experience and share it with other organisations. The findings will also help us frame our applications for future funding particularly in the area of girls’ education and wellbeing.

FINANCIAL REVIEW

During the financial year 2024/25 the charity received income of £56,383 (2024: £65,388) and sent £73,580 (2024: nil) to Ethiopia to fund the development projects for that year.

This year we had successful fundraising campaigns and grant applications with a range of funders including Big Give Christmas Challenge, Mullers Charitable Trust, Ethiopian Sponsored Run on the Downs, Open garden event by Dr Barbara Laue and Dr Christopher Payne. We continued to have the loyal support of many individual donors and also funding from the Woodlands Church and its communities.

As of 30th September 2025 there was a net unrestricted funds balance of £78,316 (2024: 73,682) of which £57,000 is designated (2024: £63,000).

For further financial details refer to the Balance Sheet and the SoFA in the Financial Statements of the accounts that follow.

RESERVES AND INVESTMENTS

Our stance on both reserves and investments is regularly reviewed under our Financial Controls Policy. Our current policy is to ensure our cash reserves are readily accessible within reasonable notice and we hold no long-term investments.

The Trust is entirely dependent on the receipt of unguaranteed donations. We are working to diversify our income sources through events and trust fund applications to ensure sustainability and minimise risk.

5

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For – Ethiopia

Report of the Trustees

For the year ended 30 September 2025

Trustees intend to maintain a cautious approach to finances over the next twelve months.

RESERVES POLICY

The trustees consider it reasonable to designate funds equal to the remaining budgeted costs for FDAE in calendar year, where this is in excess of restricted funds held (2025: £5,000, 2024: £7,000). Although the charity is not legally committed to sending these funds, it intends to support this budget in full. Further to this, as part of our commitment to girls’ education, the trustees deem it prudent to designate sufficient additional funds to allow each girl currently supported by our sister charity, FDAE, to continue to the end of their current educational programme (2024 & 2025: £50,000).

Aside from designated funds, the charity aims to retain sufficient free reserves to cover 12 months of estimated non-grant expenditure. At the year end, this equated to £28,000. Unrestricted general funds at the year-end were slightly below this target, at £21,316 (2024: £10,682). Estimated costs have increased due to an investment in fundraising and administrative support which is expected to assist in bringing funds closer to the target over the coming year.

Our current fundraising efforts are to ensure that we can fund FDAEs activities in 2026 in line with their budgeted costs, and to continue to offer new places and support to future year groups and individuals.

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

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 the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. 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 which 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 constitution. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on 15 June 2026 and signed on their behalf by:

By _____ Jennifer Dickinson, Treasurer
By _____ Pete Harrison, Secretary

6

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

Independent examiner's report

To the trustees of

For - Ethiopia

I report to the trustees on my examination of the accounts of the above charity for the year ended 30th September 2025 which are set out on pages 8 to 17.

Responsibilities and basis of report

As the 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").

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 which gives 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 order to enable a proper understanding of the accounts to be reached.

Date: 15 June 2026 Rupert Taylor

5 Mount Pleasant Millbrook Torpoint Cornwall PL10 1BH

7

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Statement of financial activities

For the year ended 30 September 2025

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3.
12,309
42,540
Events income
60
665
Investments
-
809
Total income
12,369
44,014
Expenditure on:
Raising funds
-
3,881
Charitable activities
40,640
35,499
Total expenditure
4.
40,640
39,380
5.
(28,271)
4,634
Reconciliation of funds:
Total funds brought forward
28,271
73,682
Total funds carried forward
-
78,316
Net income / (expenditure) & net movement
in funds		 2025
Total
£
54,849
725
809
56,383
3,881
76,139
80,020
(23,637)
101,953
78,316		 2024
Total
£
57,864
6,903
621
65,388
9,156
-
9,156
56,232
45,721
101,953

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 9 to the accounts.

8

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Balance sheet

As at 30 September 2025

Note
Current assets
Debtors
7.
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
8.
Net assets / (liabilities)
5.
Funds
9.
Restricted funds
Unrestricted funds
Total charity funds		 £
4,585
75,399		 2025
£
79,984
(1,668)
78,316
-
78,316
78,316		 2024
£
6,984
95,273
102,257
(304)
101,953
28,271
73,682
101,953

Approved by the trustees on 15 June 2026 and signed on their behalf by

Jennifer Dickinson ACA - Treasurer

9

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

For - Ethiopia meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income received in advance of provision of events is deferred until criteria for income recognition are met.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

10

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

1. Accounting policies (continued)

d) Donated services and facilities (continued)

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of cost incurred by each activity as follows:

2025 2024
Raising funds 4.8% 100.0%
Charitable activities 95.2% 0.0%

i) Debtors

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

j) Cash at bank and in hand

Cash at 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.

11

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

k) 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 due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Events income
Investment income
Total income
Expenditure on:
Raising funds
Total expenditure
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure) & net
movement in funds		 Restricted
Total
£
£
£
24,444
33,420
57,864
-
6,903
6,903
-
621
621
24,444
40,944
65,388
-
9,156
9,156
-
9,156
9,156
24,444
31,788
56,232
3,827
41,894
45,721
28,271
73,682
101,953
Unrestricted

12

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

3. Income from donations and legacies

Donations
Grants
Gift aid
Prior period comparative:
Donations
Grants
Gift aid
4.
Total expenditure
Grants payable
Bank charges
Insurance
Event costs
Professional fees
Office and equipment
Misc
Sub-total
Total expenditure
Total income from
donations and legacies
Total income from
donations and legacies
Allocation of support and
governance costs		 Raising
funds
£
-
287
-
38
3,440
-
-
3,765
116
3,881		 Restricted
£
1,630
10,679
-
12,309
Restricted
£
880
23,564
-
24,444
Charitable
activities
£
73,580
-
-
-
-
-
276
73,856
2,283
76,139		 £
13,062
25,633
3,845
42,540
£
19,320
10,376
3,724
33,420
Support and
governance
costs
£
-
401
151
-
1,578
187
82
2,399
(2,399)
-
Unrestricted
Unrestricted		 2025
Total
£
14,692
36,312
3,845
54,849
2024
Total
£
20,200
33,940
3,724
57,864
2025 Total
£
73,580
688
151
38
5,018
187
358
80,020
-
80,020

13

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

4.
Total expenditure (continued)
Prior period comparative
Raising
funds
£
Grants payable
-
Bank charges
349
Insurance
-
Event costs
5,348
Postage and delivery
-
Professional fees
-
Office and equipment
-
Misc
88
Sub-total
5,785
3,371
Total expenditure
9,156
5.
Net movement in funds
This is stated after charging:
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiner's remuneration:
Independent examination
Other
Allocation of support
and governance costs		 Charitable
activities
£
-
-
-
-
-
-
-
-
-
-
-		 Support and
governance
£
-
9
141
-
-
2,590
571
60
3,371
(3,371)
-
2025
£
Nil
-
198
-		 2024 Total
£
-
358
141
5,348
-
2,590
571
148
9,156
-
9,156
2024
£
Nil
-
204
-

6. Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

7. Debtors

Prepayments
Accrued income		 2025
£
138
4,447
4,585		 2024
£
138
6,846
6,984

14

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

8. Creditors : amounts due within 1 year

Trade creditors
Accruals
9.
Movements in funds
At 1
October
2024
£
Restricted funds
Education
23,564
Health & sanitation
4,707
Total restricted funds
28,271
General funds
10,682
Designated funds:
7,000
50,000
6,000
Total designated funds
63,000
Total unrestricted funds
73,682
Total funds
101,953
Unrestricted funds
FDAE budget balance
FDAE contingency
Transition fund		 Income
£
11,405
964
12,369
44,014
-
-
-
-
44,014
56,383		 £
(34,969)
(5,671)
(40,640)
(39,380)
-
-
-
-
(39,380)
(80,020)
Expenditure		 2025
£
-
1,668
1,668
£
-
-
-
6,000
-
-
(6,000)
(6,000)
-
-
Transfers
between
funds		 2024
£
100
204
304
£
-
-
At 30
September
2025
-
21,316
7,000
50,000
-
57,000
78,316
78,316

Purposes of restricted funds

The restricted funds are only available for funding development work in the relevant sector to which the funds have been restricted (i.e. Education, Health & Sanitation and Water).

15

Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

9. Movements in funds (continued) Purposes of designated funds

Planned grant giving in the coming year, which had not been formally commited to. In the current year, this has been adapted into the new designated funds as described below.

FDAE budget balance

This fund equates to the remaining budgeted costs for FDAE in calendar year which had not been paid or legally committed to by the charity as at the year end, but which the charity intends to fund in the following year, where this is in excess of restricted funds held.

FDAE contingency This fund equates to estimated costs to continue to support current beneficiaries of FDAE through to the end of their ongoing educational programme. The trustees believe it is of critical importance to reserve sufficient funds to support individuals currently on their education journey with FDAE.

Transition fund This fund sets aside additional costs expected to be incurred to support the charity through a transition year in 2024/25 whilst focusing on governance, and future proofing the UK operations by reviewing use of resources.

Purposes of transfers

Transfers in the year represent amounts designated from unrestricted funds for the purposes as set out above.

Prior year comparative
At 1
October
2023
£
Restricted funds
Education
-
Health & sanitation
3,827
Total restricted funds
3,827
General funds
6,894
Designated funds:
35,000
-
-
-
Total designated funds
35,000
Total unrestricted funds
41,894
Total funds
45,721
Unrestricted funds
Planned grant funding
FDAE budget balance
FDAE contingency
Transition fund		 Income
£
23,564
880
24,444
40,944
-
-
-
-
-
40,944
65,388		 £
-
-
-
(9,156)
-
-
-
-
-
(9,156)
(9,156)
Expenditure		 £
-
-
-
(28,000)
(35,000)
7,000
50,000
6,000
28,000
-
-
Transfers
between
funds		 £
23,564
4,707
At 30
September
2024
28,271
10,682
-
7,000
50,000
6,000
63,000
73,682
101,953

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Docusign Envelope ID: 500A020C-D205-8915-833F-9E150D601F7E

For - Ethiopia

Notes to the financial statements

For the year ended 30 September 2025

10. Related party transactions

No remuneration or expenses were paid to trustees in current or prior year.

The total amount of donations received from trustees and other related parties without conditions in the year was £1,020 (2024: £595). In addition, The George Muller Charitable Trust which is connected to the charity by a mutual trustee, gave grant income of £10,679 in the year (2024: £23,564).

17