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2021-10-31-accounts

Company Registered Number: 05493590 Charity Registered Number: 1111709

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1 - 2
Trustees' Report 3 - 9
Statement of Trustees' Responsibilities 10
Independent Auditors' Report on the Financial Statements 11 - 14
Consolidated Statement of Financial Activities 15
Consolidated Balance Sheet 16
Charity Balance Sheet 17 - 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20 - 33

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2021

Trustees Peter Boone, Chair
Amy Boone
Brigitte Granville
Company registered
number
05493590
Charity registered
number
1111709
Registered office
5 Central St. Giles Piazza
Flat 56
London
WC2H 8AB
West Africa - Chief
Executive
Baboucarr Bouy
Independent auditors
MHA MacIntyre Hudson
Statutory Auditor
Chartered Accountants
6th Floor
2 London Wall Place
London
United Kingdom
EC2Y 5AU
Bankers
Barclays
1 Churchill Place
London
E14 5HP
Ecobank
Av Amilcar Cabral
C.P. 126
Bissau
Guinea-Bissau
FBN Bank
Ground Floor, GIPFZA House
GIPFZA House48 Kairaba Avenue
Serekunda, KSMD
Banjul
The Gambia
UBS Switzerland AG
Financial Intermediaries GEM
Bahnhofstrasse 45
8001 Zurich
Switzerland

Page 1

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021

Solicitors

Farrer & Co 66 Lincoln's Inn Fields London WC2A 3LH

Page 2

EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

The Trustees present their annual report together with the audited financial statements of the Group for the year ended 31 October 2021. Effective Intervention is a charitable company limited by guarantee and the group includes its subsidiary charity Effective Intervention which is incorporated in The Gambia.

The Trustees confirm that the Annual Report and Financial Statements of the charitable company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102 SORP).

Since the company qualifies as small under section 383 under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013, the strategic report required of medium and large companies is not required.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Effective Intervention ('the Group') is a company limited by guarantee (registered number 05493590) and a registered charity (registered number 1111709). The charitable company's memorandum and articles of association are the primary governing documents of Effective Intervention (EI). The Trustees of EI are also the directors of the charitable company for the purposes of company law.

Details of the Trustees who served during the year are included in the Reference and Administrative Details on page 1.

On 17 February 2014 the Charity incorporated a new fully controlled subsidiary charitable company in The Gambia, also called Effective Intervention (company number 2014/C180). The results of the subsidiary are consolidated into the group accounts on a line-by-line basis and the company is hereafter referred to as ‘the subsidiary’.

Trustees

Trustees are recruited when considered necessary. The current Trustees have long established links to the international development sector and have a strong network from which to recruit potential Trustees. New Trustees are inducted into the charity by the Executive Chair and given an overview of the Charity’s operations and their responsibilities as Trustees. EI supports training as needed for its Trustees. At least one third of Trustees must resign each year and can then be re-appointed according to the company articles of association.

The Trustees are considering a reorganisation of Effective Intervention which would permit the Gambian fully owned subsidiary to become independent, although no decision has been made on timing. This would reduce the operating role, and the scope of activities, conducted by Effective Intervention (UK), and it would give the Gambian subsidiary an opportunity to independently seek funding and projects. In the event that any such separation does occur, the Trustees will carefully monitor any transfer of assets or resources to the Gambian entity and ensure they are in keeping with the goals and purpose of Effective Intervention (UK).

Page 3

EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

Organisational structure

Effective Intervention currently operates in three countries namely: India, Guinea Bissau and The Gambia. Operations in The Gambia started with effect from 1[st ] November 2014.

Mr Baboucarr Buoy is the CEO of Effective Intervention responsible for day-to-day management of all activities, as well as strategy and project design in West Africa. Dr. Peter Boone, the Executive Chair and a Trustee, is actively involved in project design, including plans to ensure accurate and independent measurement of outcomes as well as coordinating the activities in India. Ms. Amy Boone and Professor Brigitte Granville are the other Trustees and provide advice and oversight for all major activities, as well as regularly travelling to project sites. Ms. Amy Boone oversees payments and expenditures from the UK accounts.

Key Management Personnel

The Key Management Personnel of the Group consist of the Trustees and Chief Executive. EI has surveyed the salaries of top management at NGOs in the regions we work in. The Trustees have set top management salaries in line with the salaries of these other NGOs, taking into account the professional qualifications and experience of the individual candidates and their opportunities elsewhere.

Related party transaction

Related party transactions have been disclosed in notes to the accounts.

Principal Risks and Uncertainties

The Trustees have assessed the major risks that the Charity faces, in particular in relation to its operations and finances, and are satisfied that the Charity is taking the action necessary to mitigate its exposure to these risks. A risk assessment has been conducted by Trustees in 2021 and this will be updated regularly.

The principal risks and uncertainties facing the charity relate to the sometimes volatile political environment in the countries and regions we work in. EI has a policy of avoiding any association with political parties or groups. We try to maintain good relations with the community and local officials in the regions we work in, and to demonstrate our determination to achieve our goals of helping mothers and children, such that if political change does occur, the new leaders are willing to continue partnerships with us. As necessary, we employ lawyers to ensure we are in strict accordance with labour laws, and all other relevant legal conditions when we employ and operate in recipient nations. We monitor the political situation where we work carefully, and we have evacuation plans for employees in case these are needed.

EI projects have also faced risks and uncertainties posed by Covid-19 and the need to reduce transmission risk as well as follow related policies by local governments. EI has a policy of implementing all policies required by local governments to reduce the risks posed from Covid-19. In our RCTs in India we have also sought approval from ethics committees and trial steering committees, after designing changes to projects as needed to reduce transmission risks.

Page 4

EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

OBJECTIVES AND ACTIVITIES

The objects of the Group are the relief of suffering, hardship and distress, in particular by:

Effective Intervention (EI) implements and supports projects, as well as research, aimed at rapidly improving children’s’ education and health outcomes in some of the poorest regions of the world. EI ensures that all projects are carefully monitored, and their outcomes are measured in a highly rigorous and objective manner.

Grant activity

EI projects are developed with local partners and international experts. Statisticians are involved at an early stage in order to design monitoring and outcome measurement. In the initial phase of projects, EI often implements projects as randomised controlled trials in order to carefully measure impact and cost effectiveness. If the initial project proves successful, EI expands the project to control regions for several additional years, when feasible. The outcomes of these projects are published as academic articles in peer-reviewed journals, as well as working papers and dedicated reports.

When EI works with local partners, and medical statisticians at London School of Hygiene and Tropical Medicine, we provide grants to finance the activities we support. We only provide grants to entities who are directly involved in projects we are working on such as the NICE Foundation and Pratham Foundation. We supervise their activities, budgets, and actual spending activities throughout the project. Local partners are selected according to their professional ability to carry out required components of projects we are working on, and their willingness to work closely with us throughout the implementation and conclusion of the work.

ACHEIVEMENTS AND PERFORMANCE

The achievements in the 2020-2021 accounting year were limited by the COVID-19 pandemic. The implementing teams were fully prepared to implement the projects planned for the year, however some activities had to be suspended temporarily in order to reduce risks of COVID-19 transmission and follow regulations imposed by communities, regional and national governments as well as ethics committees.

India

Our project in Madya Pradesh aims to reduce neonatal deaths, and raise children’s’ literacy and numeracy, in approximately 200 of the poorest rural villages of this Indian state. We received ethics approvals from the London School of Hygiene and Tropical Medicine, as well as from the L.V. Prasad Institute in Hyderabad, India, to conduct these interventions as a randomised controlled trial. The initial goal of this work is to understand to what extent it is possible to rapidly reduce deaths, and increase children’s literacy and numeracy, at reasonably low cost, over a three-year period of interventions.

Based on our work with statisticians at the London School of Hygiene and Tropical Medicine, we completed the protocol for the trial as well as the strategy for enumerating villages, women and children throughout the intervention region. GH Consultancy completed the research work,

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EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

enumerating these approximately 100,000 women and 6,000 children in 196 villages, as well as seeking relevant consents for the trial. We formed a trial steering committee and data monitoring committee to manage the trial and provide oversight on safety.

Our partner, the NICE Foundation (Hyderabad, India) received approval from the Madya Pradesh government to embark on the health interventions. They hired and trained nurse midwives to operate mobile clinics which provided antenatal and neonatal care to pregnant women. These teams also managed participatory discussion groups for pregnant women and their birthing partners.

Most the intervention activities for this project were suspended from April until July 2020 due to the pandemic. The partners in this project worked closely with ethics committees in India and London, as well as local and regional governments, in order to introduce measures that would reduce risk of disease transmission, and gain approval to restart the project. The regional government in India was particularly keen to see the health project restart as they believed the mobile clinics would permit pregnant women to receive good healthcare without risking public transport and crowded clinics. From July 2020 NICE managed the project as planned after modifying some components to reduce risks of COVID-19 transmission, as well as adding an education component on COVID-19.

The Pratham Foundation, one of India’s leading education providers, hired local teachers and taught after-school classes to eligible children in 96 intervention villages. These children, which were all entering grade 2 at the start of the project, received after school classes, five days per week.

This project was suspended in April 2020 when schools in India were closed due to the pandemic. Schools in this region remained closed through November 2021. While initially it was expected that schools would reopen by summer 2020, it gradually became apparent that the government did not intend to restart schools. There is no alternative schooling in the villages where we operate, so children are not learning.

The Pratham Foundation derived a plan to offer learning by smart phone, which they initiated in autumn 2020 using the teachers employed by the project. They also worked on plans to have small group classes for children which could be held outdoors, or in facilities where risk of COVID-19 transmission can be reduced through distancing. The project returned to its designed plan in July 2020 and has been operating accordingly since.

Due to year spent without any teaching, EI and the trial management committee decided to extend the education trial for one year. They also decided to introduce additional surveys to measure the learning of children during the period schools were closed. The education intervention is now scheduled to end in July 2022.

Both the above projects are being implemented as randomised controlled trials. The independent research group which manages monthly interviews of participating women, as well as other tasks, adjusted its methods in order to reduce COVID-19 transmission risk. One major change was to create a teleconference centre so that interviews could be conducted by phone, instead of in person, when the participants had a phone.

Guinea Bissau

In Guinea Bissau, EI further analysed the outcomes of the past education project provided to 21 villages and the findings were published in the Journal of Public Economics in 2021. The results demonstrated a very large improvement in education outcomes for children in these villages when

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EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

compared to control villages. The end-line tests revealed children receiving the intervention scored 58.1 percentage points better than controls on early grade reading and math tests, demonstrating that the intervention taught children to read and perform basic arithmetic, from a counterfactual condition of very high illiteracy. The results have been presented in Guinea-Bissau to policy makers and other donors, and at the Centre for Global Development in Washington D.C.

At the start of this project, EI committed to expand the project to controls if it proved effective. Given the success of this project, the team has implemented this expansion. This project began operating in September 2020 and provides approximately 2,600 children from control and intervention villages with schooling for five years. The Trustees believe this is particularly worthwhile as state schools continue to barely function in these rural regions, so the children would receive very little education without these schools. The project schools implemented measures to reduce Covid-19 transmission but were permitted to operate through the year.

The Gambia

In The Gambia, EI implemented the after school project for approximately 8,000 children. This project reflects the success of the previous randomised controlled trial. In that trial, the children’s learning outcomes in control and intervention villages were compared using the internationally standardised reading and math tests: EGRA and EGMA. After three academic years, Gambian children allocated to the intervention scored 46 percentage points (3.2 SD) better on a combined literacy and numeracy test than control children. Our results demonstrate that, in this type of area, aggressive interventions can yield far greater learning gains than previously shown. We presented the results in a press conference in Banjul, Gambia and at a conference in Washington D.C. The results have been published in 2021 in the Journal of Development Economics, as well as described in “Learning” a World Bank group publication. Alex Eble has presented the findings in numerous academic seminars.

The Government of Gambia was impressed with these results and raised financing from the World Bank in order to provide 3,000 children with the after school programme. EI committed to provide a further 5,000 children with schooling. These classes began in January 2020. Due to the pandemic, schools in The Gambia were temporarily closed from April until October 2020, and the classes were also suspended. Both schools and the after school classes have since operated as planned, although adjustments have been made to reduce risks of COVID-19 transmission.

The most important component to achieving our objectives is a motivated, capable team along with reliable, expert partners. During 2020/21 we have worked closely with excellent partners in India and Africa, including the NICE Foundation, Pratham Foundation, and the Ministries of Education in Gambia and Guinea-Bissau. We have continued close collaboration with medical statisticians at the London School of Hygiene and Tropical Medicine, and we have worked with education experts on EGRA and EGMA testing, and economists at the London School of Economics and Columbia University as well as a statistician specialising in education at Cambridge University. We monitor the work of our partners regularly and closely. We continue to hire, support and train the best staff we can find in our project regions.

KEY PERFORMANCE INDICATORS

The Group aims to keep expenditures as low as feasible while implementing projects. The expenditures on activities in the year ending October 2021 primarily reflect the costs of implementing projects providing schooling and health interventions in India and Africa. The school closures in India, for well over a year, substantially reduced spending effectiveness. The Trustees decided to continue

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EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

paying teachers throughout this period, even though EI could not require they work full time. The projects are now fully operative again, and they will provide education services to approximately 13,000 children in India and Africa, as well as providing antenatal and neonatal services to women living in 100 villages in India. We aim to continue to disseminate the learnings from these projects through top academic journals as well as meetings and presentations.

PUBLIC BENEFIT

In setting our programme each year we have regard to both the Charity Commission’s general guidance on public benefit and specific guidance for charities engaged in the prevention and relief of poverty. The Trustees always ensure that the programmes we undertake are in line with our charitable objects and aims.

In our health projects we offer health services to all pregnant women and children enumerated in the project intervention area, regardless of their socioeconomic background. We offer education services to all enumerated children in the respective intervention villages. The recipients are typically the poorest and most impoverished population in the regions. The design of each of our randomised controlled trials has been reviewed and approved by ethics committees in the countries where we are working, and at the London School of Hygiene and Tropical Medicine when they partner in the projects. We work closely with regional governments and communities to ensure that the services we provide are helpful to the government and communities.

FINANCIAL REVIEW

For the year ended 31 October 2021, the Charity had income of £4,067,221 which was higher than the 2020 income of £1,394,544. The Charity is dependent upon donations from Trustees in order to help the Charity expand its operations. Expenditure increased due to higher levels of activity in The Gambia and Guinea-Bissau as described above. As such, total expenditure for the year was £2,478,274 against expenditure of £1,748,510 in 2020. This resulted in a net surplus of £1,588,947 (2020: deficit of £353,966). Grants payable increased from £513,231 in 2020 to £730,244, further details of which can be found in Note 7 to the accounts. Net assets of the Group amounted to £1,990,968 (2020: £402,021).

Reserves

The Group has a committed donor who ensures that funding is received as needed for the projects, so reserves reflect the amount of funds required on hand at any particular time. The Board has agreed that the Group, in addition to any restricted reserves (if they exist) and commitments to, and investment in, tangible fixed assets, should have unrestricted or free reserves equal to approximately three to six months of current total expenditure so that the Group's activities could continue in the short-term event of any significant funding shortfalls. The free reserves at the year-end were £1,956,065 (2020 - £353,880). The reserves held as at the year-end is equivalent to over 9 months of expenditure at 31 October 2021 levels. These reserves will be spent in the coming years as the projects in India that had been impacted by COVID-19 have been extended.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

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EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

TREASURY POLICY AND PERFORMANCE

EI’s activities are supported by one major donor and this donor is committed to providing funds needed to complete all ongoing projects, so EI has not required a reserve management policy. We plan to invest funds in short-dated, safe, term deposits if we do have significant excess funds in the future beyond immediate cash needs.

Future plans

EI plans to continue with the projects currently underway during the next several years. The projects in India have been delayed, and their timeframes have been extended due to the impact of COVID19 and related lockdowns. The project in Gambia will come to an end in 2023. The project in GuineaBissau comes to an end in 2025.

Disclosure of Information to Auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Preparation of the Report

This report of the Board has been prepared taking advantage of the small company’s exemption of section 415A of the Companies Act 2006.

This report was approved and authorised for issue by the Board and signed on its behalf by:

………………………………..

Peter Boone Chair

Date: 30 June 2022

Page 9

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 OCTOBER 2021

The Trustees (who are also the Directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Approved by order of the members of the board of Trustees and signed on its behalf by:

................................................

Peter Boone Chair Date: 30 June 2022

Page 10

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EFFECTIVE INTERVENTION

Opinion

We have audited the financial statements of Effective Intervention (the 'parent charitable company') and its subsidiaries (the 'Group') for the year ended 31 October 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 11

EFFECTIVE INTERVENTION (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EFFECTIVE INTERVENTION (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 12

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EFFECTIVE INTERVENTION (CONTINUED)

Responsibilities of Trustees

As explained more fully in the Statement of Trustees' Responsibilities, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 13

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EFFECTIVE INTERVENTION (CONTINUED)

Use of our report

This report is made solely to the Group's Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Group's Trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Group's Members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Group and its Members, as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart McKay BSc FCA DChA (Senior Statutory Auditor)

for and on behalf of

MHA MacIntyre Hudson Statutory Auditor Chartered Accountants London

Date: 27 July 2022

Page 14

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2021

Note
Income from:
Donations
4
Investments - bank interest receivable
Total income
Expenditure on:
Charitable activities
6
Other expenditure
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
4,067,020
201
4,067,221
2,460,160
18,114
2,478,274
1,588,947
402,021
1,588,947
1,990,968		 Total
funds
2021
£
4,067,020
201
4,067,221
2,460,160
18,114
2,478,274
1,588,947
402,021
1,588,947
1,990,968		 Total
funds
2020
£
1,394,377
167
1,394,544
1,709,322
39,188
1,748,510
(353,966)
755,987
(353,966)
402,021

All income and expenditure derive from continuing activities.

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 33 form part of these financial statements.

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EFFECTIVE INTERVENTION

(A Company Limited by Guarantee) REGISTERED NUMBER: 05493590

CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2021

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total net assets
Charity funds
Unrestricted funds
Total funds		 2021
£
1,342,543
1,150,146
2,492,689
(536,624)		 2021
£
34,903
34,903
1,956,065
1,990,968
1,990,968
1,990,968		 2020
£
547,802
338,588
886,390
(532,510)		 2020
£
48,141
48,141
353,880
402,021
402,021
402,021

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Peter Boone

Chair Date: 30 June 2022

The notes on pages 20 to 33 form part of these financial statements.

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EFFECTIVE INTERVENTION

(A Company Limited by Guarantee) REGISTERED NUMBER: 05493590

CHARITY BALANCE SHEET AS AT 31 OCTOBER 2021

Note
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
15
Creditors: amounts falling due within one
year
13
Net current assets
Total net assets
Charity funds
Unrestricted funds
Total funds		 2021
£
1,317,101
1,121,567
2,438,668
(531,988)		 2021
£
26,268
26,268
1,906,680
1,932,948
1,932,948
1,932,948		 2020
£
508,398
289,343
797,741
(525,505)		 2020
£
38,773
38,773
272,236
311,009
311,009
311,009

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

The Charity's net movement in funds for the year was a surplus of £ 1,621,939 (2020 - deficit of £ 611,074 ) .

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Page 17

EFFECTIVE INTERVENTION (A Company Limited by Guarantee) REGISTERED NUMBER: 05493590

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2021

................................................

Peter Boone Chair Date: 30 June 2022

The notes on pages 20 to 33 form part of these financial statements.

Page 18

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2021

Note
Cash flows from operating activities
Net cash used in operating activities
14
Cash flows from investing activities
Purchase of tangible fixed assets
11
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
15
The notes on pages 20 to 33 form part of these financial statements		 2021
£
813,618
(2,060)
(2,060)
811,558
338,588
1,150,146		 2020
£
257,402
(49,451)
(49,451)
207,951
130,637
338,588

Page 19

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

1. General information

Effective Intervention is a private charitable company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1111709) and the Registrar of Companies (Company Registered Number 05493590) in England and Wales.

The address of the registered office is given in the Group information on page 1 of these Financial Statements. The nature of the Group's operations and principal activities are detailed in the Trustees Report.

The Members of the Group are the Trustees named on page 1. In the event of the Group being wound up, the liability in respect of the guarantee is limited to £1 per member of the Group.

The significant accounting policies applied in the preparation of these Financial Statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Effective Intervention constitutes a public benefit entity as defined by FRS 102. The financial statements are presented in Great British Pounds and are rounded to the nearest pound. The functional currencies of the Group are Great British Pounds, Gambian Dalasi and CFA Francs.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking.

The results of the subsidiary are consolidated on a line by line basis.

2.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Page 20

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For donations to be recognised the Group will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfillment of those conditions is within the control of the Group and it is probable that they will be fulfilled.

Volunteer time - no amount is recognised in the financial statements.

2.4 Expenditure

All expenditure is accounted for on an accrual basis. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 21

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives are as follows:

Plant and machinery - 4 years Motor vehicles - 4 years straight line Office equipment & furniture - 5 years straight line Computer equipment - 5 years straight line

2.6 Debtors

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

2.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Group anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.

2.8 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.9 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into Great British Pounds at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into Great British Pounds at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Consolidated Statement of Financial Activities.

Page 22

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

2. Accounting policies (continued)

2.10 Cash at bank and in hand

Cash at bank and 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.

2.11 Financial instruments

The Group holds basic financial instruments. The financial assets and financial liabilities of the Group are as follows:

Debtors - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 12. Prepayments are not financial instruments.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 13. Taxation and social security is not a financial instruments.

2.12 Pensions

When employees have rendered service to the Group, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

2.13 Taxation

The Group is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Group is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.14 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist, including considering the impact of COVID-19. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Group to be able to continue as a going concern.

Page 23

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

4. Income from donations

Unrestricted
funds
2021
£
Donations
3,253,616
Gift aid
813,404
Total 2021
4,067,020
Unrestricted
funds
2020
£
Donations
888,359
Gift Aid
506,018
1,394,377		 Total
funds
2021
£
3,253,616
813,404
4,067,020
Total
funds
2020
£
888,359
506,018
1,394,377

Page 24

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

5. Other expenditure

Unrestricted
funds
2021
£
Loss on foreign currencies
18,114
Unrestricted
funds
2020
£
Loss on foreign currencies
39,188		 Total
funds
2021
£
18,114
Total
funds
2020
£
39,188

Page 25

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

6. Analysis of expenditure on charitable activities - by type

The Gambia
Guinea-Bissau
India
Total 2021
The Gambia
Guinea-Bissau
India
Total 2020		 Activities
undertaken
directly
2021
£
545,160
489,890
459,968
1,495,018
Activities
undertaken
directly
2020
£
477,094
257,048
299,814
1,033,956		 Grant
funding of
activities
2021
£
-
-
730,244
730,244
Grant
funding of
activities
2020
£
-
-
513,231
513,231		 Support
costs
2021
£
65,522
169,376
-
234,898
Support
costs
2020
£
34,567
127,568
-
162,135		 Total
funds
2021
£
610,682
659,266
1,190,212
2,460,160
Total
funds
2020
£
511,661
384,616
813,045
1,709,322

Page 26

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

6. Analysis of expenditure on charitable activities - by type (continued)

Analysis of support costs

Staff costs
Depreciation
Rent
Utilities
Bank charges
Office costs
Professional fees and consultancy
Repairs and maintenance
Training
Sundry expenses
Governance costs
Travel and subsistance
(Profit)/loss on disposal of fixed assets
Teaching and learning costs
Delivery costs		 Total
funds
2021
£
37,846
12,644
16,763
1,155
7,528
14,655
7,225
8,381
42,182
3,084
36,202
1,762
-
42,764
2,707
234,898		 Total
funds
2020
£
36,001
3,727
24,494
770
4,476
12,106
9,216
7,114
2,410
3,420
34,411
914
(255)
16,615
6,716
162,135

7. Grants payable

London School of Hygiene and Tropical Medicine (India)
NICE (India)
Pratham Education Foundation		 2021
£
32,726
478,035
219,483
730,244		 2020
£
178,231
150,000
185,000
513,231

In the previous year, all grants were payable to institutions.

Page 27

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

8. Governance costs

Auditor's remuneration - Audit of the financial statements
Auditor's remuneration - Accountancy services and bookkeeping
Auditor's remuneration - Taxation services
Auditor's remuneration - Under-accrual of prior year fees
Other professional fees		 2021
£
15,060
9,954
2,820
5,400
2,968
36,202		 2020
£
14,340
9,480
1,920
6,780
1,891
34,411

9. Staff costs

Wages and salaries
Social security costs
Pension costs		 Group
2021
£
821,420
88,703
14,962
925,085		 Group
2020
£
557,354
40,116
772
598,242		 Charity
2021
£
533,289
67,798
14,962
616,049		 Charity
2020
£
320,298
24,196
772
345,266

The average number of persons employed by the Charity during the year was as follows:

Project staff - The Gambia
Project staff - Guinea-Bissau
Project staff - India
Support staff		 Group
2021
No.
294
75
1
8
378		 Group
2020
No.
194
13
1
8
216

Page 28

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

9. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2021 2020
No. No.
In the band £60,001 - £70,000 1 -
In the band £70,001 - £80,000 - 1

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .

The total amount of employee benefits (including employers national insurance contributions and employers pension contributions) received by Key Management Personnel is £69,816 (2020 - £75,222).

The Group considers its Key Management Personnel comprise:

During the year ended 31 October 2021, no Trustee expenses have been incurred (2020 - £NIL) .

Page 29

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

11. Tangible fixed assets

Group

Cost or valuation
At 1 November 2020
Additions
Foreign exchange movement
At 31 October 2021
Depreciation
At 1 November 2020
Charge for the year
Foreign exchange movement
At 31 October 2021
Net book value
At 31 October 2021
At 31 October 2020		 Plant and
machinery
£
7,709
-
(452)
7,257
95
1,827
(19)
1,903
5,354
7,614		 Motor
vehicles
£
169,979
2,060
(8,667)
163,372
130,096
10,735
(6,484)
134,347
29,025
39,883		 Office
equipment
£
1,594
-
(93)
1,501
1,594
-
(93)
1,501
-
-		 Computer
equipment
£
18,403
-
(1,079)
17,324
17,759
83
(1,042)
16,800
524
644		 Total
£
197,685
2,060
(10,291)
189,454
149,544
12,645
(7,638)
154,551
34,903
48,141

Page 30

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

11. Tangible fixed assets (continued)

Charity

Cost or valuation
At 1 November 2020
Foreign exchange movement
At 31 October 2021
Depreciation
At 1 November 2020
Charge for the year
Foreign exchange movement
At 31 October 2021
Net book value
At 31 October 2021
At 31 October 2020		 Motor
vehicles
£
65,018
(2,499)
62,519
26,245
10,399
(393)
36,251
26,268
38,773

12. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments
Gift aid receivable		 Group
2021
£
6
364
34,203
1,307,970
1,342,543		 Group
2020
£
48
27,138
26,050
494,566
547,802		 Charity
2021
£
6
-
9,125
1,307,970
1,317,101		 Charity
2020
£
48
-
13,784
494,566
508,398

Page 31

EFFECTIVE INTERVENTION

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

13. Creditors: Amounts falling due within one year

Other loans
Trade creditors
Other taxation and social security
Other creditors
Accruals		 Group
2021
£
243,129
22,860
2,057
242,364
26,214
536,624		 Group
2020
£
243,129
12,362
-
252,428
24,591
532,510		 Charity
2021
£
243,129
22,860
2,057
237,728
26,214
531,988		 Charity
2020
£
243,129
11,160
-
247,396
23,820
525,505

14. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
11
Loss on the sale of fixed assets
(Increase)/ decrease in debtors
12
(Decrease)/ increase in creditors
13
Foreign exchange movement on fixed assets
11
Fixed asset reclassifications
11
Net cash provided by operating activities		 Group
2021
£
1,588,947
12,645
-
(794,741)
4,114
2,653
-
813,618		 Group
2020
£
(353,966)
3,727
251
415,767
194,291
(801)
(1,867)
257,402

15. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
2021
£
1,150,146
1,150,146		 Group
2020
£
338,588
338,588

Page 32

(A Company Limited by Guarantee)

EFFECTIVE INTERVENTION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

16. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year		 At 1
November
2020
£
338,588
(243,129)
95,459		 Cash flows
£
811,558
-
811,558		 At 31
October
2021
£
1,150,146
(243,129)
907,017

17. Related party transactions

Unrestricted donations in aggregate received from Trustees in 2021 were £3,253,616 (2020 - £888,359).

In the year 31 October 2019, Peter Boone had also lent the Charity £243,129, which was given in order to facilitate the payment of a grant. The loan is interest free and repayable on demand. The outstanding balance of this loan at 31 October 2021 was £243,129 (2020 - £243,129).

In the year 31 October 2008 a Trustee, Peter Boone, lent the Charity £17,132 for the purchase of a motor vehicle. The loan, which is expected to be reimbursed within 12 months of the year-end, is interest free.

18. Principal subsidiaries

Effective Intervention (The Gambia)

Subsidiary name: Effective Intervention (The Gambia)
Company registration number: 2014/C180
Basis of control: Fully owned subsidiary
Equity shareholdings %: 100%
Address: Kerr Serign, P.O. Box 3325, Serrekunda, The
Gambia
Total assets as at 31 October 2021: £62,656
Total liabilities as at 31 October 2021: £4,636
Total equity as at 31 October 2021: £58,020
Turnover for the year ended 31 October 2021: £489,601
Expenditure for the year ended 31 October 2021: £522,593
Loss for the year ended 31 October 2021: £32,992

Page 33