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← Lumos Foundation

2023-12-31-accounts

-LUMOS. famity for all children ANNUAL REPORT

~~CONTENTS~~

~~STRATEGIC REPORT 2 VISION, MISSION AND VALUES 6 2023 IN SUMMARY 8 CHILD AND YOUTH PARTICIPATION 10 WHERE WE WORK~~

~~12 UKRAINE~~

~~16 COLOMBIA~~

~~20 CASE STUDY: JUAN PABLO’S STORY~~

~~22 MOLDOVA~~

~~26 CASE STUDY: ROMINA’S STORY 28 KENYA 30 PANAMA 30 USA 32 ADVOCACY 36 PRINCIPAL RISKS 37 FINANCIAL REVIEW~~

~~GOVERNANCE & FINANCIAL STATEMENTS 2023 40 STRUCTURE, GOVERNANCE & MANAGEMENT 43 STATEMENT OF TRUSTEES RESPONSIBILITIES 44 INDEPENDENT AUDITOR’S REPORT 49 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 50 CONSOLIDATED BALANCE SHEETS 51 CONSOLIDATED STATEMENT OF CASH FLOWS 53 PRINCIPAL ACCOUNTING POLICIES 71 REFERENCE & ADMINISTRATIVE DETAILS 73 THANK YOU~~

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~~OUR VISION~~

Our vision is a world in which all children grow up in safe and loving families.

~~OUR MISSION~~

To fight for every child’s right to a family by transforming care systems around the world.

~~OUR VALUES~~

Children are at the heart of everything we do. They drive us forward in our vision and underpin every aspect of our work and strategy, helping us bring about the very best outcomes for the children we serve.

At Lumos, we fight for every child’s right to a family by preventing family separation, protecting children and promoting the transformation of care systems around the world. We do this without discrimination, upholding the rights of every child. The children we work with are disproportionately likely to experience inequality and exclusion, so it is vital that our work be rooted in anti-discriminatory practice. This means ensuring that no child is deprived of help regardless of age, sex, disability, gender identity or expression, race, religion, sexual orientation, or economic status.

We strive to create an inclusive environment where all our staff feel safe, heard and valued. We respect and value the diverse perspectives of our employees and we ensure the freedom of expression of all individuals. This provides the foundation for delivering on our vision of ensuring that all children have a safe and loving family.

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~~SAFEGUARDING~~

Lumos continues to develop and strengthen its safeguarding function and remains committed to accountability, learning from our experiences and working to foster a culture of openness that empowers staff, partners and programme participants. Much progress has been made in building a strong foundation of shared understanding and systems/procedures for both safeguarding prevention and response and further work is planned to continue to ensure consistent practice and a culture of safeguarding excellence.

Training and guidance on safer programming and implementation with partners, alongside a toolkit and guidance, was delivered for all staff at the end of 2022. From the beginning of 2023, significant work has been undertaken by the GSL (Global Safeguarding Lead) and DSLs (Designated Safeguarding Lead) to apply the toolkit and ensure safeguarding is embedded across activities, focusing attention and capacity on high-risk areas involving direct contact with children, adults and communities (including downstream delivery). This includes support to teams to ensure safeguarding risk assessments are completed and contextualised mitigations are put in place. DSLs have been facilitated to engage in peer-to-peer support in 2023 as well, offering them opportunities to share risk assessments, discuss challenges and learning and to share tools and resources.

Safeguarding policies are all regularly reviewed and up to date as of the end of 2023. Induction trainings and ongoing workshops to support the development and implementation of safeguarding have been offered throughout the year, including a specialist session for Trustees focusing on culture and safeguarding. Targets for continued improvement and strategic development were shared with the Board of Trustees via the annual safeguarding report, which were informed by an all staff safeguarding survey completed in September 2023.

~~EQUALITY, DIVERSITY AND INCLUSION~~

At Lumos, we fight for every child’s right to a family by preventing family separation, protecting children and promoting the transformation of care systems around the world. We do this without discrimination, upholding the rights of every child. The children we work with are disproportionately likely to experience inequality and exclusion, so it is vital that our work be rooted in anti-discriminatory practice. This means ensuring that no child is deprived of help regardless of age, sex, disability, gender identity or expression, race, religion, sexual orientation, or economic status.

We strive to create an inclusive environment where all our staff feel safe, heard and valued. We respect and value the diverse perspectives of our employees and we ensure the freedom of expression of all individuals. This provides the foundation for delivering on our vision of ensuring that all children have a safe and loving family.

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2023 IN SUMMARY

2,223 CHILDREN PREVENTED FROM FAMILY SEPARATION 111 CHILDREN REUNITED WITH FAMILES/FOSTER CARE

173 CHILDREN/YOUNG PEOPLE INVOLVED IN CYP

199 FAMILIES TRAINED

1,518 PARENTS SUPPORTED

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1,102 REFUGEE CHILDREN/ FAMILIES SUPPORTED

63 TONNES OF HUMANITARIAN AID DISTRIBUTED

2,652 PROFESSIONALS TRAINED

909 INTERNALLY DISPLACED AND VULNERABLE CHILDREN/FAMILIES SUPPORTED

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~~CHILD AND YOUTH PARTICIPATION~~

PUTTING CYP AT THE HEART OF LUMOS AMPLIFYING YOUNG VOICES WORLDWIDE Our new CYP strategy was based on an

Our new CYP strategy was based on an audit of our existing work and on extensive consultations with Lumos teams and young self-advocates. It became clear that, as well as amplifying the voices of children and young people with lived experience of harmful institutions and orphanages, we needed to create new ways for parents and families to be heard too. This will be central to our future thinking on CYP, as will the new Lumos Global Youth Advisory Board – the nature and role of which was being discussed at the end of the year.

Across all of our work in 2023, we increased our focus on empowering children and young people to influence decisions that affect their lives.

Youth participation matters. It ensures policy makers and service providers understand the issues that children and young people are really facing – and can take targeted, effective action in response. It makes sure young people’s voices are heard, instead of being marginalised or excluded. And it enables young people to develop their communication and negotiation skills, and to feel more confident in services that exist to support them.

Additionally in 2023, we developed new CYP training for all Lumos staff and added CYP learning to our induction process for new starters. CYP was prioritised in our country programmes worldwide, too.

For all of these reasons, we worked in more ways throughout 2023 to support even the most marginalised children to use their voices. We developed a new Child and Youth Participation (CYP) strategic plan to clarify how we can and will deliver the greatest impact. We created more opportunities for children and young people to share their insights and ideas in the countries where we work. And we began setting up a Global Youth Advisory Board, so children and young people can advise us on all of our programmes and our future direction.

And we celebrated the launch of our new Lumos podcast in 2023, creating a powerful new opportunity for young people to discuss the value of CYP, share success stories and tools, relate their experiences and advocate for young voices to be a catalyst for change.

Our youth participation advisor Aneta Teneva hosted early episodes in the UK, speaking to guests including former Lumos programme director, Tricia Young, and our board member, Jimmy Paul. And young people in Colombia, Kenya and Moldova also worked with Lumos to co-produce three episodes in each country, suggesting themes, formats and potential guests to bring to life the issues they face.

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~~KEY SUCCESS~~

Child and youth participation expanded in 2023 in Colombia, Kenya and Moldova. A total of 435 children and young people were directly involved in participatory activities. This includes self-advocates contribution to Lumos US Gala, UBS projects - Redirecting Funding Campaign and the Global Thematic Review on Education.

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WHERE WE WORK

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UNITED
KINGDOM
USA
PANAMA
COLOMBIA
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PAST
REMOTE SUPPORT
PRESENT
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UKRAINE
MOLDOVA
JORDAN
KENYA
PRESENT
PRESENT
REMOTE SUPPORT
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UKRAINE

~~PUTTING FAMILIES AT THE HEART OF RECOVERY~~

~~PUTTING FAMILY-BASED CARE FIRST~~

Our expert teams collaborated closely with Ukrainian authorities throughout the year, shaping future plans for childcare reform. We helped to draft a new national strategy on ‘Ensuring the rights of children to grow in the family environment’. This will be used as the basis for transforming the familybased care system in the country, including by increasing the number of foster families and reducing the use of institutions.

2023 marked our 10th year of working in Ukraine. As the devastating conflict with Russia continued, we delivered urgent humanitarian aid to families and communities, influenced care reform at every level and brought organisations together to prioritise child protection.

Even before the Russian invasion in February 2022, huge numbers of children across Ukraine were missing out on the chance to grow up with a safe and loving family. When Lumos began working in the country in 2013, over 100,000 children were living in 751 institutions – numbers that were among the highest in Europe. We’ve been inspiring change in Ukraine ever since, and in 2023 we continued to work with local, regional and national partners to tackle long-standing challenges and support children and families through the current crisis.

We also partnered with a range of NGOs to set up a new Coordination Centre for the Development of Family-Based Care, working with Ukraine’s cabinet of ministers. Within this partnership, we reviewed current legislation on placing children in residential care and on monitoring care institutions. We also took part in four public consultations – one national, three regional – to help create a roadmap for the future of family-based care in Ukraine. This roadmap will cover critical issues such as support for families, inclusive education and how to prevent children being placed in institutions.

Our humanitarian work in 2023 fell into three areas – delivering food and education kits directly to children and families, providing technical support and guidance to increase family-based care, and advocating to put child protection at the heart of all of Ukraine’s recovery plans.

Our teams passed on their knowledge too, delivering training with the Ministry of Education and Science and the Ukrainian Institute for the Modernisation of Education. The courses focused on creating safe spaces for education during emergencies, and have now been approved by the Ministry of Education to be used as part of postgraduate training for teachers and psychologists.

In total, we provided emergency supplies including food and education items to 1,915 children from 909 families. This included children who had been hurriedly moved from institutions to families when the war began, children with disabilities, children who had been displaced and children from low-income families. We provided mental health support within communities too, because this combination of emergency essentials and psychological help can support families stay strong and stay together.

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“ THANKS LUMOS FOR THE NEW KNOWLEDGE AND SUPPORT. EVERYTHING WAS INTERCONNECTED, INFORMATIVE, STRUCTURAL AND PRACTICAL.”

~~TRAINING COURSE DELEGATE, 2024~~

At a regional level, our focus was on helping to reform the care system. In Zhytomyr, for example, we set up a new coalition of NGOs named ‘In the interests of children’. Together with our partners, we plan initially to advocate for the rights of children with disabilities and promote support for parents and communities.

And we also built on our years of advocacy experience to make sure care reform and child protection are central to Ukraine’s recovery. Highlights included setting up and co-leading an advocacy task force of international organisations to influence the Ukraine Recovery Conference in London, and co-organising a high-level side event at the conference on care reform.

We also established the Ukraine International Advocacy Task Force to influence key stakeholders, including the EU. Thanks to our supporters, Lumos has become a trusted voice on providing highquality care systems for children.

~~KEY SUCCESS~~

The Government approved the Strategy on Inclusive Education for 2023-2030, based on the Lumos draft concept for the Transformation of Special Education and Action Plan for its implementation until 2026.

PREPARING TO REACH MORE CHILDREN WHO HAVE BEEN DISPLACED

Towards the end of 2023, we increased our efforts to support thousands of children and young people who have fled their homes because of the conflict. Our aims include increasing access to inclusive education for 18,000 children, training 2,400 teachers to support mental health, and providing emergency cash assistance to the parents and caregivers of 3,000 children. This work launched in November, and we immediately began a needs assessment to identify children in three Ukrainian communities with the least access to education and support. We also produced leaflets to let people know about the support available, which will continue into 2024 and beyond.

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YOUNG PEOPLE’S VOICES AND EXPERIENCES GUIDE EVERYTHING WE DO. IN 2023, WE HELPED TO SET UP A NEW REGIONAL CHILDREN AND YOUTH COUNCIL IN ZHYTOMYR, SO CHILDREN AND YOUNG PEOPLE CAN INFLUENCE MORE DECISIONS THAT AFFECT THEIR LIVES AND THEIR FUTURES.

As well as bringing up her own three children, Alla also cares for her niece. She is doing everything she can to give them the best start in life. But the conflict in Ukraine has made life a constant struggle. Her husband is currently unemployed, so Alla is now the only one working.

There are times, she says, when the pressure on her mental health becomes difficult to bear. But food and education kits from Lumos are helping Alla to focus on the future. She is determined to keep her family together, even as this devastating conflict stretches into its third year.

THANKS TO COMIC RELIEF

ALLA’S STORY “ WE WILL BE ABLE TO SAVE MONEY THAT WOULD HAVE BEEN SPENT ON PURCHASING THESE PRODUCTS [FOOD, HYGIENE PRODUCTS AND SCHOOL SUPPLIES] AND BUY CLOTHES, SHOES AND OTHER THINGS [MY CHILDREN] NEED.”

We have distributed emergency aid to thousands of children without parental care in the Zhytomyr region of Ukraine. We have supported the safe relocation of children from dangerous institutions and provided emergency support to emergency foster carers. We also provided essential technical assistance in the region and advocated for care transformation, nationally and internationally.

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COLOMBIA

~~MAKING PROGRESS FAST~~

After a CYP coordinator was employed in Colombia in June 2023, the team rapidly set about developing country-specific plans and recruiting 60 volunteers aged 13 to 17 (36 girls and 24 boys) to form three groups and begin speaking up for change. These young people took part in 37 activities, workshops and training sessions during the second half of the year. All of the sessions were designed to help foster creativity, collaboration and emotional resilience as the young advocates prepared to inspire reform of the care system in Colombia – and it worked, as 14-year-old Juliana* explained:

“ [NOW] WE HAVE A MORE OPEN DIALOGUE WITH EACH OTHER, WORKING MORE EFFECTIVELY AND SUPPORTING EACH OTHER. [WE SHARE AN] UNDERSTANDING THAT BEING IN INSTITUTIONS IS OFTEN NOT EASY.”

Lumos also supported two extraordinary young people – Maicol and Andrea – to share their stories and make recommendations for children’s rights at the Colombian Association of State Protection annual conference. It was another way that we brought young people together to push for change in 2023.

“ I’M A CARE LEAVER FROM THE PROTECTION SYSTEM, AND I WANT TO THANK LUMOS FOR ALLOWING ME TO SPEAK WITH CARE LEAVERS FROM OTHER COUNTRIES. THIS HAS ALLOWED US TO SEE THE CHALLENGES THAT WE HAVE AS A COUNTRY TO GUARANTEE THE RIGHTS OF ALL YOUNG PEOPLE THAT HAVE GONE THROUGH THE PROTECTION SYSTEM.”

~~ANDREA~~

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I

~~COLOMBIA~~

TURNING POLITICAL WILL INTO LASTING PROGRESS

The government of Colombia is committed to transforming child protection in the country. Throughout 2023, we worked closely with ministers to move towards a future based on care in families and communities – rather than institutions. And we offered support and training to help families stay together and to help young people speak out.

Our team in Colombia met with government officials, civil society organisations and legal professionals throughout 2023, pushing child care reform to the top of the country’s political agenda. The government, which was elected in 2022, wants to move away from institutions and towards family- and community-based alternatives that enable children to thrive. We did everything in our power to make sure that transformation happens and happens fast.

We shared the findings of our strategic review of Colombia’s care system with directors at the Colombian Family Welfare Institute (ICBF), as well as with private service care providers. This highlights the value and potential of family-based care for child wellbeing, as well as exploring how to overcome barriers to care reform. We also presented our national plan for childcare to the ICBF. It included recommendations from local experts and government officials who took part in our collaborative research process. Our close work with politicians and civil society groups has given us a valued voice in discussions on childcare reform.

Also in 2023, we reached children and caregivers in Colombia directly, working through our local partners. 271 children and 178 family caregivers were supported by Michin, through a range of programmes designed to help families stay together. Following tailored psychosocial support,

36 of these children returned to live with their families. Another 114 who were at risk of being separated from their families took part in Michin’s workshops on building social and emotional skills and received support to cope during crises. And 11 foster mothers also joined with Michin to learn more about supporting children in foster families. Through far-reaching programmes such as this – which help children to leave institutions, prevent families being separated and strengthen foster care – the future becomes brighter for children and the people closest to them.

We also continued to help care professionals in Colombia develop their skills and knowledge in 2023. 117 people involved in foster care programmes and 71 foster mothers from the Cundinamarca, Bogotá, Tolima and Antioquia regions joined our workshops on effective care processes. And we gave technical support and training to regional authorities and private care providers on giving psychosocial support to help bring children and families back together.

EMPOWERING CHILDREN TOGETHER

Transforming the care system depends on involving and listening to children and young people in Colombia and around the world. In 2023, we launched a participation network that brought together 59 children and adolescents who live in residential care institutions or are part of programmes designed to stop families being separated.

The young people joined Lumos at workshops on developing emotional, social, cognitive and physical skills, and shared their experiences with officials from local and national government bodies. At one session we presented the findings of our strategic review so network members could give their feedback. And the group also elected 15 of their members to receive additional training and make an even greater contribution to care reform in the country. Feedback from network members, their families and the professionals they spoke to was excellent, and local

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organisations have contacted Lumos wanting to join the network and increase their own focus on participation.

“ THE PARTICIPATION WORKSHOPS HAVE ALLOWED ME TO DEVELOP THE ABILITY TO COMMUNICATE MORE AND SOCIALISE, PROMOTING EMOTIONAL INTELLIGENCE. IT IS RECOGNISED THAT IT IS OKAY TO EXPRESS EMOTIONS SUCH AS CRYING OR FEELING SAD, CHALLENGING THE IDEA THAT BEING ‘OKAY’ IS NORMAL. THE WORKSHOPS HAVE ALSO FACILITATED GREATER COLLABORATION WITHIN THE GROUP, PROMOTING BETTER TEAMWORK AND MORE ACTIVE PARTICIPATION.”

~~CAROL [NOT HER REAL NAME] 16, PARTICIPATION NETWORK MEMBER~~

Additionally, we also supported four young people who grew up in Colombia’s protection system to travel to Chile and take part in an event entitled ‘Path to autonomy’. Speaking to an audience from countries across Latin America, they described their own experiences, discussed their connections with Lumos and explained why avoiding institutionalisation and strengthening family care has such powerful, long-term potential.

By amplifying young people’s voices, we stop young people’s hopes, priorities and rights from being ignored.

~~KEY SUCCESS~~

We built and developed child and youth participation with 59 children and adolescents living in residential care institutions or in family separation programmes. We also influenced the Government to establish a “DI Coordination Committee” within the Cabinet of Ministries, above ICBF, which prioritises childcare system transformation and ensures a holistic multisectoral approach to reform moving forward.

PARTNERSHIP WITH KJCF

We are hugely grateful to the Karlsson Játiva Charitable Foundation (KJCF) for supporting our Keeping Families Together Project in Colombia. The project, through the Latin American Children’s Trust (LACT) has helped to lead the way in care reform in Colombia since its launch two years ago, and it’s been instrumental in protecting and supporting 953 vulnerable children: 681 children who were at risk of being separated from their families have been supported through Lumos’s family strengthening services.

74 children have been placed temporarily in foster homes instead of in institutional care.

198 children formerly in institutional care have received life-changing psychosocial support from professionals supported by Lumos.

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~~CASE STUDY~~

JUAN PABLO’S STORY

Eight-year-old Juan Pablo, who is autistic, is thriving as one of the 59 children who are part of Lumos’s participation network in Colombia. Since first getting involved in August 2023, he’s grown in confidence and is now often at the heart of discussions. He’s suggested actions policy makers should take to stop children being separated from their families and knows that his voice matters.

Life has often been tough for Juan Pablo and his family. His older sister has cancer and, during the Covid-19 pandemic, the whole family had to leave home and spent several weeks living on the streets. He and his two siblings were put into a residential care programme, but now are back living at home with their mum.

Juan Pablo also joined a training programme for children with special educational needs, run by our partner, the Frine Foundation. The programme is designed to help families stay together, and Juan Pablo joined our participation network after getting involved.

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HE’S STOOD OUT AS A NATURAL LEADER, WHO SHARES LUMOS’S DETERMINATION THAT EVERY CHILD’S VOICE SHOULD BE HEARD AND LISTENED TO.

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MOLDOVA

ACTION FROM PARLIAMENT TO REFUGEE CAMPS

Children and young people took action in numerous ways in Moldova last year to make sure their concerns were heard – and Lumos was right by their side. For example, we supported selfadvocates to:

We also continued to support young refugees in four regions. Children and young people took part in activities including a three-day youth forum and workshops on creating child-friendly spaces. Being heard in these ways enables young people to build confidence and become more comfortable sharing their experiences and calling for change. One young person, Milana, told us:

“ I LIKED IT BECAUSE IT WAS INTERESTING, INTENSE AND I LEARNED MANY NEW THINGS. WE LEARNED HOW TO PLAN DIFFERENT PROJECTS AND HOW TO BE MORE ACTIVE IN THE COMMUNITY.”

In addition, we continued to support young volunteers at two Youth Friendly Health Centres, as part of our efforts to support parents and prevent young children – including those with disabilities – being separated from their families. 68 young people – 49 girls and 19 boys – took part in peer-to-peer support workshops as part of this initiative.

435 CHILDREN AND YOUNG PEOPLE JOINED YOUTH PARTICIPATION EVENTS IN COLOMBIA, KENYA AND MOLDOVA IN 2023.

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~~MOLDOVA~~

~~A NEW CHAPTER FOR FAMILY-BASED CARE~~

Lumos has been a driving force for care reform in Moldova for many years. In 2023, there was reason for celebration as we worked with the government to launch a new action plan with the potential to keep many more families together.

TRANSFORMING SUPPORT IN EARLY CHILDHOOD

In July, the government of Moldova approved a new national action plan for setting up early intervention services for children with developmental delays. We know early intervention plays a vital role in helping to prevent family separation, because it makes it easier for vulnerable young children and their families to be identified and given effective support at the right time. The plan was heavily informed by our pilot Early Child Development/Early Child Intervention (ECD/ECI) services in the Floresti and Ialoveni districts. We also helped to draft provisions in the government’s new approach, including the fact that children will be able to access support up until the age of five, rather than three.

Twenty-four new early intervention centres will now be set up across Moldova – and again Lumos will have a central role. We have partnered with the Ministry of Health and UNICEF – which is helping to fund the work – and will set up two ECI district centres and 10 community ECD offices in Fălești and Cimișlia. In 2023, we began providing training for paediatricians, family doctors, nurses, psychologists and social assistants from these regions, supporting people to identify possible developmental delays and disabilities as early as possible. This training will continue in 2024.

Also in 2023, we set up six new Early Child Development and Early Child Intervention (ECD/ECI) community centres in the Floresti and Ialoveni regions, and we launched early education spaces in seven education institutions. These projects are designed to stop children ever entering the care system – by putting tailored support in place that helps children and families stay together. In total, 1,337 children were given support at Lumos-supported ECD centres in 2023.

We also ran 32 training sessions for 542 healthcare, social care and early education professionals, raising awareness of the importance of ECD and ECI and improving the quality of support available to children and families. And 128 parents and carers joined 16 formal training sessions at our community ECD/ECI centres, building their knowledge of caring for young children, including those with developmental disorders and disabilities.

The “Ukrainian Refugee Crisis Response in Moldova” project was financed by Terre des Hommes Netherlands and started in December 2022. The six-month project had a total budget of just under 200,000 Euros and was designed to support local authorities from four districts – Floreşti, Ialoveni, Glodeni and Teleneşti – in their efforts to provide help and support for refugee children and families hosted by local families. The project’s main objectives were:

To strengthen capacities of the national and local public authorities, service providers, frontline specialists and other professionals as well as local NGOs to provide an effective emergency response to the Ukrainian refugee crisis.

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UNICEF MOLDOVA

An initiative to generate evidence on refugee children with disabilities to improve access to relevant services was backed by financial support from UNICEF. It culminated in the presentation of key findings to the members of working groups for child protection and education, established at the onset of the Ukrainian refugee crisis.

The four-month-long project, navigated through three pivotal phases:

  1. Mapping of Ukrainian refugee children with disabilities and research methodology development

  2. Initial individual assessment of needs for Ukrainian refugee children with disabilities

  3. Complex assessment and identification of individual needs for Ukrainian refugee children with disabilities

TACKLING THE THREATS FACED BY YOUNG REFUGEES

Some 121,000 Ukrainian refugees have remained in Moldova after the Russian invasion of Ukraine. Around 40% are aged under 14, with many at increased risk of being trafficked, exploited or abused. Some have been separated from their parents after arriving in the country without the paperwork they needed or being left at the border by family members who were unable to leave Ukraine.

Throughout 2023, we continued to support refugee children and their families in the Ialoveni, Floresti, Glodeni, and Telenesti districts. We supported local public authorities to put children and families’ needs first, helping to assess, plan, coordinate, manage and monitor the response to the refugee crisis. We also helped to set up child-friendly spaces and arrange activities to bring together refugee children and people from host communities. And we ran three training sessions for 69 frontline professionals on safeguarding, child protection, child trafficking, child labour, sexual exploitation and abuse in emergencies.

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~~CASE STUDY~~

ROMINA’S STORY

“ I FEEL LIKE I’M PART OF THE CHANGE. THERE IS GREAT NEED FOR US, YOUNG PROFESSIONALS, TO GO AND WORK IN THE DISTRICTS AND COMMUNITIES WHERE OUR KNOWLEDGE IS MOST REQUIRED. THE EXISTENCE OF MODERN, WELL-EQUIPPED FACILITIES LIKE THE ECI CENTRE IS A HUGE PART OF THAT.”

For many years it’s been a challenge for children and families at risk of being separated to get support in Moldova outside Chișinău, the capital city. But as the government and Lumos work together to open more Early Child Development and Early Child Intervention centres across the country, that’s beginning to change. For Romina Sorbală, a paediatrician who grew up in Floresti and returned to the district to work in an ECI centre supported by Lumos, the expansion of children’s services across Moldova is a huge step forward.

“I was born in Florești and, after graduating from the university and finishing my residency at a hospital in Bălți, I decided to return home, where there is need for specialists in various fields,” Romina says. “I see my role in providing medical assistance to each child with a developmental delay – or at risk of having one – and to their families, helping them in raising their children.”

Romina admits she was surprised by the quality of facilities and support available at the ECI centre. This shows how seriously care for families is now being taken in the country, she says. “I’ve been discussing this a lot with mothers of the children coming here and all of them have only good words to say about it. I myself, as a young mother, am surprised to see all of this equipment and the materials carefully selected to aid the development of children with speech, cognitive or locomotive disorders.

“ WE KEEP CHILDREN BUSY PLAYING AND, WHILE THEY DO, WE’RE DOING OUR JOB: OBSERVING, CHANNELLING THE GAME TO ACHIEVE OUR PURPOSE AND SHOWING PARENTS AND CARERS WHAT TO PAY ATTENTION TO AT HOME, SO THEY CAN CONTINUE THE WORK STARTED AT THE CENTRE.”

It’s clear to see how much Romina loves being in her role – and loves seeing the difference it makes to the children and families she supports. “I feel,” she smiles in conclusion, “like I’m part of the change.”

~~KEY SUCCESS~~

Due to Lumos’s advocacy and influence, the Government has approved the National plan for the development of ECD/ECI services for the 2023-2027 based on our model of integrated system of ECD/ECI services and of the regulatory framework for these services.

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THANKS TO FONDATION DORA

Fondation Dora is a Swiss family Foundation working to support children and teenagers with disabilities. They are supporting Lumos’s three-year project, running from 2022 – 2025, to introduce ECI services for children with disabilities into local communities in Moldova.

By introducing local access to specialist services, such as physiotherapy, speech therapy and neurology, this project is aiding families to keep their children at home, rather than sending them to live in institutions.

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KENYA REACHING OUT TO GOVERNMENT

36 children and young people, supported by Lumos, took part in a groundbreaking two-day participatory event in Embu County. The group included children with disabilities and children who are not in school. Together they have lived in 12 charitable children’s institutions.

During the event, the young advocates shared their perspectives with government officials and staff from the local Directorate of Children Services. They described their best and most challenging experiences and made suggestions on how to make family life safer, happier and more sustainable. The discussion ranged from schooling to better support for parents, and all local representatives pledged to introduce new ways to incorporate CYP in their institutions. Lumos also ran a workshop on setting up platforms for child and youth participation, as together with young people we pushed the need for care system reform up the Kenyan agenda.

Towards the end of 2023, we also took our work to the courtroom, supporting the launch of a groundbreaking child-friendly court in Embu County. Children’s voices should be heard in every discussion about care reform. But when legal intervention occurs, normal courts can be intimidating for children.

So we worked with local child protection and law officials to transform Embu County court. Child-friendly artwork was added to the walls. The magistrate’s seat was moved to be on the same level as children, instead of above them. And spaces were created so children could see everyone in court without being seen themselves. Mr Mundi summed up the transformation by simply saying:

“ THE CHILDREN’S COURT IS A DREAM COME TRUE. IT FEELS LIKE A NEW YEAR’S GIFT AND WE ARE VERY GRATEFUL TO LUMOS.”

~~CREATING PROGRESS AT EVERY LEVEL~~

By working directly with the government, at regional level and in communities, we continued to inspire extensive reform of children’s care across Kenya.

At a breakfast event attended by Lumos CEO Peter McDermott in February, it was heartening to hear how valuable our work in Kenya is seen to be. The head of the Directorate of Children’s Services and the CEO of the National Council for Children’s Services were among those who acknowledged our role in spearheading the agenda of care reform in Kenya and stated their commitment to continue working with Lumos. It marked the beginning of a year when progress in Kenya was wide-ranging and widespread.

A comprehensive care reform strategy has now been agreed in the country, and in 2023 we helped to develop, review and finalise nine key policy documents related to it. We also ran training courses for senior staff at a range of government bodies and charitable children’s institutions – both of which will play a vital role in turning the strategy into a powerful reality. Twenty-three government staff and 32 NGO employees joined us for the training, which covered subjects including child protection and care reform action planning.

We also helped to set up the overarching advisory committee and six county-level advisory committees that will now help to coordinate children’s care in Kenya. These form a core part of the care reform strategy, and should be a catalyst for many more of the 1,500 children currently in statutory institutions and 26,000 children in private institutions to find safe, loving homes.

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~~A NEW DAWN FOR CHILDREN’S PARTICIPATION~~

Children and young people should have a voice whenever care reforms are planned and set in motion, and in Kenya in 2023 we supported our first Children and Youth Participation (CYP) event in Embu County. Thirty-six young people took part, including children with disabilities and children who are out of school. The insights and ideas they shared were then collected into a booklet and shared with the local authorities that are rolling out the new care reform strategy. You can read more about this initiative and CYP more widely on page 10.

~~DRIVING CHANGE ACROSS AFRICA~~

One of our objectives in Kenya is to work with partners across Africa to build awareness of the challenges children face when they live separately from their families, and to support reform that leads to safe, sustainable care. Partnership and collaboration are key to our thinking, and in 2023 we were the secretariat for the

Africa Working Group on Children Without Parental Care.

Through this role, we learned more about the discrimination, abuse and exploitation experienced by many children, and we helped to secure funding for a consultant who will build closer links with the African Committee of Experts on the Rights and Welfare of the Child. This will help to create greater momentum than Lumos could achieve alone, as we keep supporting governments to recognise how children can leave institutions behind for good and be safely reunited with families.

~~KEY SUCCESS~~

we contributed to the redefining of the social cash transfers, which broadens eligibility to include families of children returned from institutions, families at risk, and those providing community-based alternative care. This innovative approach facilitates sustainable reintegration through economic support measures.

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PANAMA

We continued our work in Panama in 2023, linking with our local partner Casa Esperanza and with authorities in the country to lay the foundations for a transformation for vulnerable children.

Our focus was on building understanding of the value of care reform, so we invested in training in Panama and supported learning visits to see care reform in action elsewhere in Latin America.

Thirty-six people from the Chiriquí Protection Board attended our training, along with representatives from the National Secretariat from Children and Families (SENNIAF) and delegates from Casa Esperanza.

We also brought together a delegation from SENNIAF, Casa Esperanza, UNICEF and Panama’s judicial body to visit Colombia and Costa Rica, where together we saw the impact of effective foster care. The trip gave officials from Panama the chance to learn about models of foster care, common challenges and how these can be overcome. The delegates were also able to speak to foster families and – crucially – young people who have benefitted from loving foster homes. And the impact of the trip will be felt for years to come, as members of the delegation agreed to keep collaborating with and learning from many of the experts they met.

Finally, we also supported the Casa Esperanza team to begin building its own foster care programme. Staff advertised for interested families and ran talks in communities to let people know what is involved. As people applied to find out more, Casa Esperanza’s technical team then visited families at home and began processing the first applications. It was another clear sign that momentum for a new kind of care is continuing to grow in Panama.

USA

Lumos USA was founded in 2015 to support the vital mission to ensure all children grow up in safe and loving families. Lumos USA works with philanthropists, like-minded nonprofit organisations, policymakers, grantmakers, and corporate partners to address the root causes of child institutionalisation and to realize a world in which our mission and vision can be a reality.

In September 2023, Lumos USA hosted its first in-person event in over five years, the Illumination Dinner & Concert – A Celebration of Family.

Hosted at City Winery – New York City, the event welcomed over 150 supporters, partners, and friends to celebrate the inspirational work of Lumos worldwide. The evening gave insights into some of the children and families Lumos works with and sparked meaningful conversation in a virtual panel on the war in Ukraine with Lumos Founder and Life President J.K. Rowling, Ambassador of Ukraine to the United States Oksana Markarova, and Presidential Commissioner for Children’s Rights & Child Rehabilitation Daria Herasymchuk.

Thanks to the incredible support of Lumos’s Title Sponsors and Honorees, Scholastic Inc. and Warner Bros. Discovery, 100% of every dollar raised at the Illumination Dinner & Concert went directly to Lumos’s global programs. In total, the event raised over $535,000.

The Illumination Dinner & Concert culminated in incredible performances by national talent Dale Henderson, Augie Bello, and Joaquina Kalukango under the direction of Meg Zervoulis.

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ADVOCACY AND EVIDENCE

CREATING AWARENESS AND BUILDING PRESSURE FOR CHANGE

~~PUTTING INCLUSIVE EDUCATION IN THE SPOTLIGHT~~

With our partners and allies around the world, we pushed for care reform at the highest levels and showed why inclusive education and family-based care need to be developed together.

Advocacy has always been a critical strategic priority for Lumos. We know that ending institutionalisation benefits children and society. Through targeted research and advocacy, we can better understand the drivers behind institutionalisation, demand accountability and be a catalyst for international funding, programmes and policy that deliver the transformation needed to create highquality care systems.

Our evidence-based advocacy work in 2023 spanned the globe and encompassed a wide range of issues connected to family-based and community-based care. Partnership was always at the heart of our approach, because no actor working alone can transform children’s care globally. But by connecting with others, sharing insights and ideas and speaking with one united voice, we can ensure many more children have the love, attention and opportunities they need to thrive.

Our Global Thematic Review on Education, funded by UBS Optimus Foundation, came to an end in June. We know all children have the right to grow up in a family and to have a quality education that meets their needs. But the review has highlighted that these rights are sometimes seen as mutually exclusive. For example, some children are only able to access education in residential institutions, meaning that their families are forced to choose between their child’s rights.

Inspired by our research findings, we undertook a wide range of high-impact advocacy. In February 2023, this included launching our Learning Curves Research Pack, containing a working paper in five languages, case studies from three countries, two policy briefs and a series of event recordings.

95 people attended our Learning Curves launch. 100% said their knowledge of education and institutional care improved as a result.

We also hosted a separate Learning Curves launch event at the Moldovan Parliament, attended by three secretaries of state and 11 members of parliament. Government representatives from Colombia, Kenya, Moldova and Ukraine also joined us for an animated and wide-ranging virtual round table discussion. One participant said during the discussion: “We used to believe that children with disabilities didn’t have

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the skills needed to attend mainstream schools. Now, we know that it was us who didn’t have the skills to educate them.”

Since completing the Thematic Review, our team has continued to build awareness of the links between care reform and education, including by:

Looking to the future, we’ll keep building on this research and on the relationships it has helped us foster – as we keep fighting for the rights of every child.

~~COLLABORATING WITH MORE PARTNERS IN MORE WAYS~~

By strengthening our links with organisations including Hope and Homes for Children, the Better Care Network and the European Expert Group on the Transition from Institutional to CommunityBased Care, we were part of a range of collaborative advocacy successes. These included:

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to help organisations partner with other organisations engaged in child protection and care reform to agree common principles, build on each other’s work and deliver sustainable impact for children worldwide.

~~REDIRECTING FUNDING CAMPAIGN~~

We know that money plays an important role in keeping orphanages and other institutions around the world open. While some of this money comes from governments, some is also private funding. In order to make the change we want to see, we need to tackle this flow of funding at its source. That’s why Lumos is working on a flagship sector-wide campaign, funded by UBS Optimus Foundation, aimed at philanthropists, to redirect funding safely away from institutions and into family and community care. This year, we have made great progress including:

We’re looking forward to a launch for our campaign pledge in 2024.

~~UBS OPTIMUS FOUNDATION~~

We are so grateful to the UBS Optimus Foundation for their partnership and support as we prepare to launch our ambitious campaign to raise awareness amongst philanthropists of the harms of institutions and seek to sustainably redirect funding to family and communitybased services, so that children can grow up in families where they belong.

in Africa. Through this role, we learned more about the discrimination, abuse and exploitation experienced by many children. Working together with partners across the continent, the Working Group serves as a collective body advising the African Committee of Experts on the Rights and Welfare of the Child (ACERWC) on issues relating to children without parental care across Africa, with the aim of shaping policy and programming. We helped to secure a successful funding bid to support the work of the Group going forward and helped identify a consultant who will build closer links with the ACERWC. This work will help to create greater momentum than Lumos could achieve alone, as we keep supporting influential regional bodies and governments to recognise how unnecessary family separation can be prevented and how children can leave institutions for good and be safely reunited with families.

~~PROPELLING REGIONAL ADVOCACY FORWARD~~

DRIVING CHANGE ACROSS AFRICA

Partnership and collaboration are key to our thinking, and in 2023 we continued to act as the Secretariat for the Working Group on Children Without Parental Care

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KNOWLEDGE EXCHANGE ACROSS LATIN AMERICA AND THE CARIBBEAN

Our work as a core member of the Global Movement for Children in Latin America and the Caribbean is just one example of our regional work in 2023. We worked closely with peer organisations on numerous joint advocacy initiatives, including a series of four webinars on transforming care. Young people with lived experience of growing up in institutions hosted one of the webinars and supported another on children and young people’s participation. We also explored issues connected to foster care and preventing family separation.

PLAYING AN ACTIVE ROLE IN THE CARE REFORM EVIDENCE COMMUNITY

By working with the care reform evidence community, we can contribute to strengthening the evidence base for care reform implementation and advocacy. Lumos actively participated in the Evidence for Impact working group within the Transforming Children’s Care Collaborative, participating in several sub-working groups to jointly plan how to utilise emerging research and to develop a sector-wide research agenda. We worked together with partners to develop a thematic brief on systemic care reform.

Around 300 participants joined each session, as we shared examples of care systems that have been transformed and highlighted how to overcome common challenges. New conversations were set in motion across the region as a result, and Lumos was invited to El Salvador to suggest how to create a foster care programme in the country.

SUPPORTING RESEARCH WITH BIG POTENTIAL

Our partnership with two influential academics – Dr Justin Rogers at the Open University and Prof Lizzi Milligan at Bath University – is one of many projects that we believe will create impact for years to come. We worked together to plan a research study on education and institutionalisation in Kenya. With funding now secured, work has begun on collecting high-quality evidence that can inform our advocacy in the country. We hope this study will help to secure funding from the Economic and Social Research Council for a larger followon study.

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Lumos Foundation | Strategic Report for the year ended 31 December 2023

Princi al risks p

Statement of risks and uncertainties

Lumos maintains a corporate risk register, prepared in accordance with Charity Commission Guidance. This register is reviewed and updated every six months by the Executive Leadership Team; it is then shared quarterly with the Finance and Risk Committee and the Board. There is dedicated risk session with the Board once a year. Additional risk sessions are included in Board meetings where appropriate.

Lumos Corporate Risk Register (CRR) includes risks across five categories: strategic and reputational, operational, compliance, financial and governance.

As well as the corporate risk register, the Finance and Risk Committee receives quarterly updates on wider risk management activity and explores individual risk areas. The Committee also reviews the charity’s overall risk management arrangements on an annual basis.

In 2022 Lumos continued to update risk management arrangements and strengthen internal processes. Lumos continues to build upon good practice in the areas of security and safeguarding. Particular attention has been paid to the additional risks associated with the operations in Ukraine and Moldova given the evident security considerations. Lumos will take further steps to review and update its internal risk management policy to better reflect the inherent risks associated with working in areas of conflict and civil unrest.

The charity has identified the following key risk and uncertainties:

1) Poor fundraising performance and a lack of income diversity

Mitigations: New team structure and capacity to diversify income streams and provide effective line management and support to retain staff. Strengthening of processes to manage restricted funds in line with strategic priorities. Greater scrutiny of and support to fundraising plans and performance by the finance team, executive leaders and the Board of Trustees. Income diversification to include institutional, corporate and major donors. Effective monitoring across all income streams, i.e. monthly reporting against KPIs and variance against budget forecast.

2) Recruitment, retention and managing reduced staff capacity

Mitigations: Employing additional human resources into core functions. Deprioritising non-essential or non-generative activities which sit outside of the core strategic objectives. Development of new policies, systems and procedures, including a new EDI statement.

3) Reputational risks and negative media interest in the charity

Mitigations: stakeholder management and communications. Partner, founder and contractor due diligence with associated compliance, monitoring and reporting processes, crisis response protocols. Increase Lumos’s profile as an independent charity/NGO and report on impact and development.

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Lumos Foundation | Strategic Report for the year ended 31 December 2023

4) Safety and security risks of personnel operating in high risk countries

Mitigations: Regular ongoing security assessments enable rapid analysis of changing circumstances and adaptation of programming, including cessation of activities when appropriate. Regular disbursement of smaller amounts of funds to partners to tighten financial controls. Security Contingency plans regularly updated.

5) Safeguarding risks: the risk of harm to children and adults

Mitigations: Additional capacity provided to safeguarding team and improvements made to safeguarding due diligence guidance and protocols. Review and implementation of the global safeguarding policy and related reporting protocols with associated programme staff and refresher training. Strengthening of integration of safeguarding into programme design and reporting.

Financial review

A summary of the year’s results can be found on page 49 of the attached accounts.

Lumos financial results summary 2023 2022
£’000 £’000
Total income 7,888 7,149
-
Funds from individual giving		 3,701 2,967
-
Grant income		 3,030 2,023
-
Income from royalties		 1,009 1,856
-
Income from trading activities		 63 230
-
Investment and other income		 85 73
Total expenditure 4,964 7,410
-
Charitable activities		 3,386 5,961
-
Cost of raising funds		 1,578 1,449
Other (losses)/gains (160) 204
Net Funds movement 2,764 (57)
Reserves carried forward 6,313 3,549
-
Unrestricted		 4,224 2,940
-
Restricted		 2,089 609

During 2023, Lumos continued the restructuring of its operations and reduction in headcount as part of the change programme agreed in 2020. The aim was to maintain a sustainable platform for future operations and overall strategy being pursued, and phased implementation in line with resources.

The positive net funds movement for the year is in large part due to a restricted grant received in late 2023 to be expended in 2024 and a substantial unrestricted donation received in 2023 intended to cover costs in 2024.

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Lumos Foundation | Strategic Report for the year ended 31 December 2023

Investment policy and performance

For much of the calendar year 2023 equity markets traded broadly sideways, a resilient performance given the backdrop of continued interest rate rises and falling bonds. Sentiment, however, reached an inflection point in late October as investors became increasingly confident that inflation was moving back downwards, marking the likely peak in interest rates. This triggered a healthy rally in bond and equity markets in the final couple of months. Within the context of a lower risk mandate, the portfolio benefitted from this rising tide, the total return of 5.8% comparing favourably with the ARC Cautious Charity Index return of 3.6%. Given the strong leadership from the technology sector, the portfolio’s performance was boosted by exposure to companies such as Microsoft, Adobe and Alphabet, but also from substantial rises in stocks including RELX (seen as a beneficiary of AI), CRH (beneficiary of US infrastructure initiatives) and Siemens (factory automation as companies looked to build new manufacturing capabilities closer to end markets). The portfolio also benefitted from a short dated bond focus, the fixed income portion of the portfolio making a positive contribution and generating a return about double that of the All Maturities Gilt Index.

In April 2024, the investment portfolio was liquidated and the cash is currently held on deposit with Lumos’s bank, HSBC plc.

Fundraising policy

Lumos ensures compliance with regulations on the protection of donor information and use of personal data. The protection of children at the heart of our mission extends to our supporters and the public, to ensure all individual preferences of donors are upheld, and no one is unduly pressured to donate to Lumos.

We are registered with the Fundraising Regulator and adhere to their Code of Fundraising Practice for all fundraising events, activities and interactions with donors. In 2023, there were no fundraising complaints.

Our income is affected by external factors such as the ongoing war in Ukraine, fluctuations in the economy, royalty payments donated by our Founder, changing donor priorities and public trust in charities, all of which we monitor closely and respond to through our in-year plans.

Reserves policy and going concern

The Trustees balance a prudent reserves policy, which ensures that Lumos has sufficient funds to complete ongoing activities in the event of a significant fall in income and strengthening and increasing the impact of the organisation.

The charity holds sufficient unrestricted funds for the following purposes:

To mitigate the principal financial risks facing Lumos

In terms of income, this includes the risk that income does not match organisational expenditure growth. In addition to fundraising risk, there are also risks of stock market variations, which may negatively impact the value of the investment portfolio and future levels of return.

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Lumos Foundation | Strategic Report for the year ended 31 December 2023

To enable Lumos to provide emergency response services

There are situations that can arise throughout the year where an immediate response is required before income is received from fundraising activities.

To support working capital funding requirements

In a number of Lumos programmes expenditure is made prior to claiming the expense from the donor, usually on a quarterly basis. Lumos also receives a sizable amount of income in the second half of the year which has an impact on the cash flows of the charity.

To help to protect Lumos work beyond the current year

In the event of a sustained downturn in income, Lumos would require a period of time to make adjustments to programmes in order to minimise any related impacts to children. This includes the established country demonstration programmes in Europe, Latin America and the Caribbean programmes in Colombia, and technical support that is provided to a number of countries around the world, where Lumos does not have a physical presence.

Finally, Lumos retains funds to maintain its 100% pledge to the public, so that no portion of their donation is used to fund overhead costs.

Funds

Restricted funds £2.1m (2022: £0.6m)

Restricted funds are funds with specific restrictions imposed by donors. These restrictions often relate to a particular geographic region or area of technical expertise and sometimes include a deadline by which time the funds must be spent.

Unrestricted funds £4.2m (2022: £2.9m)

Unrestricted funds include tangible and intangible fixed assets of £0.1m (2022: £0.1m) and designated funds of £1.6m, where the designated funds have been allocated by the Board for the purposes of non-programmatic support of the 100% pledge and discretionary (non-programmatic) strategic programmes not supported by restricted funding.

The readily realisable free reserves balance is £2.5m (2022: £2.8m).

Our target base level of free reserves is equivalent to approximately 3 to 6 months operating expenses, which is £1.4m to £2.8m.

Conclusion

Given the level of reserves and the prudent steps undertaken in 2022 and continued in 2023 to align our operations and resources to our programmatic and financial strategy, together with forecasts, budgets and a reorganisation of the charity in 2024, the Trustees are satisfied that the charity will remain a going concern in the foreseeable future.

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Lumos Foundation | Trustees’ Report for the year ended 31 December 2023

Structure, governance and management

Governing document and objects

Lumos was incorporated as a charitable company limited by guarantee with no share capital on 3 November 2005 and is based in London. It is registered in England under company number 05611912 and is registered with the Charity Commission under charity number 1112575.

Lumos is governed by its Articles of Association dated 3 November 2005 as reviewed and amended from time to time most recently in December 2021. Lumos’s objects as stated in its Memorandum and Articles of Association are as follows:

As part of the organisational review completed during 2020, the updated mission and vision statements of the Charity were updated as follows: (i) vision: all children grow up in safe and loving families; (ii) mission: to fight for every child’s right to a family, by transforming care systems around the world.

Related organisations

Lumos Foundation Operations Limited was incorporated as a private company limited by shares on 18 December 2019 (England and Wales). Its sole member and thus its parent company is Lumos Foundation. Lumos Foundation Operations Limited operates as a trading entity for Lumos Foundation and donates its distributable profits to Lumos Foundation.

Lumos Foundation USA Inc. was incorporated in New York, USA, on 6 November 2015, and obtained 501(c)3 non-profit status on 27 March 2015. Lumos Foundation USA Inc. is included in the consolidated accounts on the basis that Lumos Foundation exercises influence and control over Lumos Foundation USA Inc. in accordance with Financial Reporting Standard 102.

Friends of Lumos USA Ltd was incorporated as a charitable company limited by shares on 20 March 2015 and was dormant until 31 March 2016. The sole member of the company, and thus its parent entity, is Lumos Foundation USA Inc. Friends of Lumos USA Ltd is a dual qualified charity that permits individuals to obtain tax relief in the United States and also in the United Kingdom, thus enabling U.S. citizens and green card holders resident in the United Kingdom to support Lumos's objectives in a taxefficient manner.

During the year, Friends of Lumos USA Ltd was effectively dormant. An application was made March 2024 for Friends of Lumos USA Ltd to be dissolved and struck off the Register of Companies.

The Lumos Foundation USA Inc. statement of financial activities results for 2023 are a deficit of £1,254k (2022: surplus of £739k) as a result of a grant of £2,082k made to the parent charity in the year.

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Lumos Foundation | Trustees’ Report for the year ended 31 December 2023

Trustees

The Board of Trustees of Lumos Foundation administers the charitable company. The Board meets at least four times a year and provides strategic direction to the work of Lumos. The Trustees make decisions by a majority vote.

Trustees give their time freely, receiving no remuneration or other financial benefit.

A Trustee is a member of the Board of Trustees of Lumos and a director for the purposes of the Companies Act 2006. The Trustees who held office during the year are listed at page 71.

All Trustees must be members of the charitable company. The maximum number of Trustees is ten. Following the Governance Review the Trustee recruitment process was strengthened including ensuring external advertising for future appointments. Lumos currently has eight Trustees, selected to provide a mix of skills necessary to Lumos. All Trustees are given an induction programme and are offered opportunities for appropriate training.

During 2023, in addition to Board meetings, Lumos Trustees undertook considerable work through the following Committees:

A system of Trustee appraisal operates via the People Committee. A periodic Board skills audit is carried out to determine the range of skills and experience which would be required to fill existing gaps. The last such audit was in Q4 2020.

Organisation

The Chief Executive Officer and Executive Leadership Team provide the Board with advice on the strategic direction of the charity and manages operations on behalf of the Board and with the Board’s guidance. The Chief Executive Officer is responsible for monitoring all aspects of Lumos’s work and regularly reporting progress to the Board.

Related parties and cooperation with other organisations

None of the Trustees receive remuneration or other benefits from their work with the charity. Any connection between a Trustee or senior manager of the charity with any related party is disclosed to the full Board of Trustees. Related party disclosures take place annually as part of the external audit process and any conflicts of interest are declared at each Board meeting.

Grant-making policy

Whilst Lumos is not primarily a grant-making organisation, the charity does issue grants occasionally to further its charitable objects. These grants tend to be in countries where Lumos does not have a permanent base, or a sub-grant of a grant received by Lumos.

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Lumos Foundation | Trustees’ Report for the year ended 31 December 2023

Grants are issued only where an opportunity has been identified, where funding exists and when due diligence has been carried out on the ability of the grantee to deliver against the grant. All grants follow Lumos’s standard internal procedures, opportunities are assessed by the Executive Team and approved by the Chief Executive Officer and/or the Trustees in line with Lumos’s procedures.

Investment powers and restrictions

Under its Articles of Association, Lumos has the power to invest in ways that the Trustees see fit. The Trustees have appointed investment managers, Close Brothers, to manage Lumos’s investment funds. Investment performance is managed by the Finance and Risk Committee. In April 2024, the investment portfolio was liquidated and the cash is currently held on deposit with Lumos’s bank, HSBC plc.

Pay policy for senior staff

The Trustees consider that the Board of Directors (who are the charity’s Trustees), together with the Executive team, comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in the notes to the accounts, notes 11 and 20 respectively.

Public benefit

The main activities undertaken by the charity to further its objects for the public benefit are described further in this Report. Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

2024 restructure

To ensure its financial sustainability, Lumos underwent a restructure during April and May 2024. This included rationalising central administrative functions within a streamlined Corporate Services model, whilst redeploying resources to the Country Programme teams enabling better efficiencies and effectiveness locally.

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Lumos Foundation | Trustees’ Report for the year ended 31 December 2023

Statement of Trustees’ responsibilities

The Trustees (who are also directors of the Lumos Foundation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

Company law requires the Trustees to prepare financial statements for each financial year. 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 charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group 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 charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to auditors

Insofar as each of the Trustees of the charity at the date of approval of this report is aware, there is no relevant audit information (information needed by the charity’s auditor in connection with preparing the audit report) of which the charity’s auditor is unaware. Each Trustee has taken all of the steps that he/she should have taken as a Trustee in order to make himself/herself aware of any relevant audit information and to establish that the charity’s auditor is aware of that information.

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

The Trustees’ Report, including the Strategic Report, was approved by order of the Board of Trustees.

Carol Copland Chair of Trustees Lumos Foundation Date:

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Lumos Foundation

Independent auditor’s report to the members of Lumos Foundation

Opinion

We have audited the financial statements of Lumos Foundation (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2023 which comprise the consolidated statement of financial activities, balance sheets, consolidated statement of cash flows and notes to the financial statements, including 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 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.

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Lumos Foundation

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

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 the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report and Strategic Report.

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

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Lumos Foundation

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 43, the Trustees (who are also the directors of the parent 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 the 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 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.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the Trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charitable company by discussions with Trustees, communication with component auditors and updating our understanding of the sectors in which the group and parent charitable company operate.

Laws and regulations of direct significance in the context of the group and parent charitable company include The Companies Act 2006 and guidance issued by the Charity Commission for England and Wales.

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Lumos Foundation

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the parent charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

As group auditors, our assessment of matters relating to non-compliance with laws or regulations and fraud differed at group and component level according to their particular circumstances. Our communications with component auditors included a request to identify instances of noncompliance with laws and regulations and fraud that could give rise to a material misstatement of the group financial statements in addition to our risk assessment.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

47

Lumos Foundation

Use of our report

This report is made solely to the parent charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent charitable company’s members those matters we are required to state to them in an auditor’s 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 parent charitable company and the parent charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Claire Wills (Senior Statutory Auditor) for and on behalf of Saffery LLP

Chartered Accountants Statutory Auditors 71 Queen Victoria Street London EC4V 4BE

Date: 25 September 2024

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

48

Lumos Foundation

Consolidated statement of financial activities (including income and expenditure account) for the year ended 31 December 2023

Notes Unrestricted Restricted
2023		 2022
Funds Funds
Total Funds		 Total Funds
£’000 £’000 £’000 £’000
Income from:
Royalties 1,009 —
1,009		 1,856
Donations and Gift Aid 1 3,574 127
3,701		 2,967
Charitable activities
Grant income 2,19 228 2,802
3,030		 2,023
Investment income 72 —
72		 21
Income from Trading activities 63 —
63		 230
Other income 2 11
13		 52
Total income 4,948 2,940
7,888		 7,149
Expenditure on:
Raising funds: 4
Raising funds and donor
communication costs 1,573 —
1,573		 1,444
Investment management costs 5 —
5		 5
Charitable activities 5 1,926 1,460
3,386		 5,961
Total expenditure 3,504 1,460
4,964		 7,410
Net income/(expenditure) 1,444 1,480
2,924		 (261)
Other recognisedgains/(losses):
Net loss on investments 14 (5) —
(5)		 (91)
Exchange rate (losses)/gains (155) —
(155)		 295
Net movement in funds 1,284 1,480
2,764		 (57)
Reconciliation of funds:
Total funds brought forward 2,940 609
3,549		 3,606
Total funds carried forward 20 4,224 2,089
6,313		 3,549

All the charity’s activities are derived from continuing operations during the two financial periods. The charity has no recognised gains or losses other than those shown above.

49

Lumos Foundation

Consolidated balance sheets as at 31 December 2023

Notes Group
2023		 Charity
2023		 Group
2022		 Charity
2022
£’000 £’000 £’000 £’000
Fixed assets:
Tangible assets 13 152 152 135 135
Intangible assets 13 2 2 15 15
Investments 14 599 599 567 567
753 753 717 717
Current assets and liabilities:
Debtors 15 1,002 1,034 1,447 1,492
Short-term deposit 9 — 9 —
Cash at bank and in hand 4,961 4,311 2,547 2,180
5,972 5,345 4,003 3,672
Creditors:
Amounts falling due within one year 16 a) (412) (1,621) (852) (3,875)
Net current assets 5,560 3,724 3,151 (203)
Total assets less current liabilities 6,313 4,477 3,868 514
Amounts falling due in more than one year 16 b) — — (124) —
Provisions for liabilities and charges 17 — — (195) (195)
Net assets 6,313 4,477 3,549 319
Funds:
Restricted funds 19 2,089 584 609 584
Unrestricted funds
Designated funds 18 1,607 1,607 — —
General funds 20 2,617 2,286 2,940 (265)
Total funds 6,313 4,477 3,549 319

As permitted by section 408 of the Companies Act 2006, a Statement of Financial Activities for the charity has not been presented.

The Lumos Foundation charity statement of financial activities results for 2023: £4,158k surplus (2022: £1,021k deficit).

Approved and authorised for issue by the Board of Trustees and signed on their behalf by:

Carol Copland

Trustee Date:

Lumos Foundation Registered Company Number: 05611912 (England and Wales)

50

Lumos Foundation

Consolidated statement of cash flows for the year ended 31 December 2023

Notes 2023
2022
£’000
£’000
Cash flows from operating activities:
Net cash provided by operating activities
A		 2,379
1,047
Cash flows from investing activities:
Dividends and interest from investments 72
21
Purchase of tangible fixed assets (35)
(2)
Proceeds from the disposal of investments 54
960
Purchase of investments (85)
(69)
Net cash provided by investing activities 6
910
Change in cash and cash equivalents in the year 2,385
1,957
Cash and cash equivalents at 1 January 2023
B		 2,572
811
Change in cash and cash equivalents due to exchange rate movements 35
(196)
Cash and cash equivalents at 31 December 2023
B		 4,992
2,572

51

Lumos Foundation

Notes to the statement of cash flows for the year to 31 December 2023

A) Reconciliation of net movement in funds to net cash used in operating activities

2023 2022
£’000 £’000
Net movement in funds (as per the statement of financial activities) 2,764
(57)
Adjustments for:
Depreciation charge 24
149
Exchange rate (gain)/loss (35)
196
Losses on investments 5
91
Dividends and interest from investments (72)
(21)
Deficit on disposal of fixed assets 7
_
Decrease in debtors 445
293
(Decrease)/increase in creditors (564)
201
(Decrease)/increase in provision for liabilities and charges (195)
195
Net cash provided by operating activities 2,379
1,047

B) Analysis of cash and cash equivalents

B) Analysis of cash and cash equivalents
2023 2022
£’000 £’000
Cash at bank and in hand 4,961 2,547
Cash held as current asset short-term deposits 9 9
Cash held by investment managers 22 16
Total cash and cash equivalents 4,992 2,572

C) Analysis of changes in net debt

At 31 December Cash flows Foreign exchange At 31 December
2022 movements 2023
£’000 £’000 £’000 £’000
Cash at bank and in hand 2,423 2,538 _
4,961
Cash equivalents 25 6 _
31
Loans falling due after more than one year 124 (124) _
_
Total 2,572 2,420 _ 4,992

52

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

Principal accounting policies

Basis of accounting

The financial statements of Lumos Foundation, which is a public benefit entity under Financial Reporting Standard 102, have been prepared on a going concern basis under the historical cost convention, in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, Financial Reporting Standard 102 (FRS102), the Charities Statement of Recommended Practice (FRS 102), the Charities Act 2011 and the Companies Act 2006. The Consolidated Statement of Financial Activities (SOFA) and Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The prior year balance sheet has been restated to split out the creditor due in over one year. The accounts are rounded to the nearest thousand and the functional currency is Great British Pounds. The principle accounting policies, which have been applied consistently in the year, are set out below.

Consolidation

The results of the subsidiaries are consolidated on a line-by-line basis. No separate SOFA has been presented for the Charity alone, as permitted by Section 408 of the Companies Act 2006. The Charity has also taken the exemption under FRS102 1.12(b) not to include a parent only cash flow statement in these accounts.

The Board of Lumos Foundation USA Inc. exercises discretion and control over all funds received by Lumos Foundation USA Inc. There is a concurrence of purpose between Lumos Foundation USA Inc. and Lumos. There is also an agreement between Lumos and Lumos Foundation USA Inc. which governs the use of Lumos name and trademark that allows Lumos’s strategic influence in, and agreement on certain operational matters of Lumos Foundation USA, Inc. worldwide.

The sole member of Friends of Lumos USA Ltd, and thus its parent entity, is Lumos Foundation USA Inc.

Lumos Foundation Operations Limited operates as a trading entity for Lumos Foundation and donates its distributable profits to Lumos Foundation. Its sole member and thus its parent company is Lumos Foundation.

Group accounts are therefore prepared consolidating Lumos Foundation USA Inc. and Lumos Foundation Operations Limited.

Accounting estimates and areas of judgement

In the application of the Lumos Foundations accounting policies, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects the current and future periods.

53

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

In the view of the Trustees and management, the following are the most significant accounting estimates and areas of judgement:

Going concern

At 31 December 2023, Lumos had total funds of £6.3m (2022: £3.5m). The level of free reserves (in this case being unrestricted excluding intangible and tangible fixed assets and designated funds) at 31 December 2023 is £2.5m (2022: £2.8m).

Given the level of reserves and the prudent steps taken in 2022 and continued in 2023 to align our operations and resources to our programmatic and financial strategy, the Trustees are satisfied that the charity will remain a going concern in the foreseeable future.

Fund accounting

Unrestricted funds are funds which are available at the discretion of the Trustees in furtherance of the general objectives of the charitable company, and which have not been designated for other purposes. Restricted funds are funds that are to be used in accordance with specific restrictions imposed by the donors. The aim and use of each restricted fund is set out in the notes to the financial statements. Where grants are received for specific purposes, they are credited to restricted funds. Costs up to the value of the grant relating to this restricted income are allocated against the income when the expenditure is incurred. Unspent balances are carried forward to subsequent years within the relevant fund.

Income recognition

Income is included in the SOFA when the charitable company is legally entitled to the income, when it is probable that the income will be received and when the monetary value of the income can be measured with sufficient reliability. The following specific policies apply to the categories of income:

Royalty income is recognised on an accruals basis in the period to which the earnings relate, provided that the charity is able to estimate the amount receivable prior to the date of approval of the financial statements. Royalty income is stated net of Value Added Tax, overseas withholding taxes, returns provisions and bad debt provisions.

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Gift Aid in respect of donations is accounted for in the year in which the related donation is recognised.

54

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

Investment income dividends receivable from the investment portfolio are included in the SOFA in the period in which the charity is entitled to receipt. Interest receivable from cash at bank 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.

Grant income is recognised as income in the SOFA when receivable. Income is deferred only if the grant was subject to donor-imposed conditions that specified a future time period when the expenditure of the resources should take place.

Investments: listed investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

Expenditure recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to make a payment 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 accounted for on an accruals basis. Irrecoverable VAT is added to the appropriate underlying expenditure.

Fundraising and publicity costs : expenditure on fundraising includes the costs of seeking all categories of income except those directly associated with charitable activities. Publicity expenditures include the costs of disseminating and publicising the work of the charitable company. Fundraising and communications costs have been allocated to the expenditure categories based on estimates of time spent in the year.

Investment management costs are recognised as they are payable to the investment manager.

Charitable activities are analysed into the major themes of the organisation, and comprise expenditure related to the furtherance of the charitable company’s objects. Costs include the direct costs relating to the overseas operations, branches and related projects, and allocated support costs.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company and include audit fees, costs linked to the strategic management of the charitable company and other compliance costs.

Support costs are those costs incurred in connection with the management and administration of the charitable company. All support costs have been allocated based on expenditure.

Pension costs contributions by the charity in respect of the group personal pension scheme are included in the Statement of Financial Activities when they are payable.

Grant liabilities are recognised once the charity has a constructive or legal obligation to make a payment.

Other accounting policies

Tangible and intangible fixed assets: the charitable company capitalises all assets with a cost in excess of £1,000 that are to be held for continuing use. Land is not depreciated. Depreciation is provided on all other tangible and intangible fixed assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

55

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

Buildings 30 to 50 years
Office equipment 5 to 10 years
Fixtures and fittings 5 years
Computer equipment 3 years
Leasehold improvements Over the lease term until the break clause
Motor vehicles 7 years
Software 5 years

Foreign currencies: monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded in Sterling at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.

Lease commitments: rentals payable under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. The benefit of a rent-free period is spread evenly across the lease term.

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.

Current asset – short-term deposit: current asset investments include cash on deposit and cash equivalents with a maturity of less than one year held for investment purposes rather than to meet the short-term cash commitments of the charity as they fall due.

Cash at bank and in hand includes cash and short-term cash commitments of the charity as they fall due, rather than for investment purposes.

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.

Financial assets and financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction costs). The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. With the exception of fixed asset investments, basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

56

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

Notes to the financial statements

1) Donations and gift aid

Unrestricted Restricted 2023 Unrestricted Restricted 2022
Funds Funds Total Funds Funds Funds Total Funds
£’000 £’000 £’000 £’000 £’000 £’000
Donations 2,864 121 2,985 965 1,621 2,586
Gift aid 527 6 533 266 41 307
Gift in kind 183 – 183 72 2 74
Total 3,574 127 3,701 1,303 1,664 2,967

Gift in kind comprises of governance and legal support for the group and the provision of office space for Lumos USA.

2) Grant income

2)
Grant income
Unrestricted Restricted 2023 Unrestricted Restricted 2022
Funds Funds Total Funds Funds Funds Total Funds
£’000 £’000 £’000 £’000 £’000 £’000
Trusts and foundations 79 461 540
102		 377 479
Changing the Way We Care – – –
–		 3 3
United States Agency for International
Development(USAID)		 – – –
–		 678 678
Ukraine Emergency Response – Ukraine and
Moldova		 1 1,015 1,016
–		 807 807
Grants from other governments and public bodies – 1,326 1,326
–		 52 52
Other grants 148 – 148
4		 – 4
Total 228 2,802 3,030
106		 1,917 2,023

3) Subsidiaries

The activities of Lumos Foundation USA Inc. (557 Broadway, New York NY 10012, USA, IRS Reference number 47-2301085) and its subsidiary Friends of Lumos USA Ltd (3-7 Temple Avenue, London EC4Y 0DA, UK, charity registration number 1170023, UK (England and Wales) company registration number 09502092) are consolidated into the accounts of Lumos Foundation. The net income for Friends of Lumos USA Ltd of £nil is included within the consolidated summary financial performance of Lumos Foundation USA Inc. below:

57

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

3) Subsidiaries (continued)

2023 2022
£’000 £’000
Income 1,429 1,358
Expenditure (2,683) (739)
(Deficit)/surplus for the year (1,254) 619
Opening reserves 3,232 2,316
(Loss)/gain on foreign exchange (141) 297
Opening reserves after gain on foreign exchange 3,091 2,613
Closing reserves 1,837 3,232
Reconciliation of funds
Current assets 3,956 3,472
Current liabilities (2,119) (240)
Net current assets 1,837 3,232

During the period, Lumos Foundation provided a grant to Lumos Foundation USA Inc. of £444k (2022: £451k) to cover administration and overhead costs in 2023. Lumos Foundation USA Inc. provided a grant to Lumos Foundation of £2,082k to fund global work to reform care systems for children (2022: £160k for the Ukraine Emergency Response programme).

Lumos Foundation provided donated services of £62k (2022: £25k) to Lumos Foundation USA Inc.

At the year-end an amount of £1,225k (2022: £2,999k) was due to Lumos Foundation USA Inc. Friends of Lumos USA Ltd owed to Lumos Foundation £nil (2022: £18k).

The activities of Lumos Foundation Operations Limited (3-7 Temple Avenue, London EC4Y 0DA, UK, company registration number 12369753) are consolidated into the accounts of Lumos Foundation. Activities started during 2022.

The summary financial performance of Lumos Foundation Operations Limited is below:

2023 2022
£’000 £’000
Income 63 230
Expenditure (14) (23)
Gift Aid to Lumos Foundation (49) (207)
Position for the year - -
Closing reserves - -
Reconciliation of funds
Current assets 68 131
Current liabilities (68) (131)
Net current assets - -

58

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

3) Subsidiaries (continued)

During the year, Lumos Foundation charged administrative expenses to Lumos Foundation Operations Limited totalling £3k (2022: £12k).

At the year-end an amount of £60k (2022: £121k) was due to Lumos Foundation, £49k is the Gift Aid payable for 2023 (2022: £207k).

4) Raising funds

4)
Raising funds
2023 2022
Total Funds Total Funds
£’000 £’000
Raising funds and donor communication
Fundraising costs 1,142
1,007
Donor communication costs 73
81
Support costs (note 7) 358
356
1,573
1,444
Investment management fees 5
5
Total 1,578
1,449

5) Charitable activities

5)
Charitable activities
Activities Support 2023 Activities Support 2022
Undertaken Costs
Total Funds		 Undertaken Costs Total Funds
Directly (note 7) Directly (note 7)
£’000 £’000 £’000 £’000 £’000 £’000
Deinstitutionalisation in Europe 1,003 490
1,493		 712 263 975
Deinstitutionalisation In LAC 283 181
464		 1,076 523 1,599
Global Deinstitutionalisation 607 296
903		 1,925 847 2,772
Advocacy, trainingand research 353 173
526		 427 188 615
Total 2,246 1,140
3,386		 4,140 1,821 5,961

59

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

6) Grants payable

Grants to institutions Grants to institutions
2023 Total 2022 Total
£’000 £’000
Peace Manifest – 360
Catholic Relief Services – 88
International Association of Women Judges – 88
Save the Children Haiti – 34
Other 7 1
Total 7 571

As part of the Ukraine Emergency Response programme, Lumos made grants to Peace Manifest to provide food and hygiene packages.

Lumos made grants to Catholic Relief Services and International Association of Women Judges as part of the Building Enduring Systems to end Trafficking project in Haiti, which delivers transformative progress on ending human trafficking, with a focus on child trafficking.

Lumos made grants to Save the Children to support Lumos Haiti’s deinstitutionalisation activities in Haiti.

7) Support costs

7) Support costs
Fundraising & Charitable 2023 Fundraising & Charitable 2022
Donor
Communication
(note 4)		 Activities
(note 5)		 Total Funds Donor
Communication
(note 4)		 Activities
(note 5)		 Total Funds
£’000 £’000 £’000 £’000 £’000 £’000
Admin, Legal and 70 232
302		 35 115
150
Compliance
Finance 161 494
655		 112 489
601
Human Resources 96 314
410		 71 436
507
Information Technology 13 42
55		 11 69
80
Office Services 18 58
76		 127 712
839
Total 358 1,140
1,498		 356 1,821
2,177

60

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

8) Governance costs
2023 2022
£’000 £’000
Legal and Professional fees 70 73
Other costs 50 7
Total 120 80

During 2023, Lumos undertook a strategy refresh project for 2024 to 2026, the costs of this project are included in Other costs above.

9) Net income for the year

Net income for the year is stated after charging:

9)
Net income for the year
Net income for the year is stated after charging:
2023 2022
£’000 £’000
Group Auditor’s remuneration
Audit services – Group 24 22
Audit services – Friends of Lumos USA 3 3
Audit services – Lumos Foundation Operations Limited 5 5
Advisory services 7 -
Payroll and tax services 5 2
Lumos USA Auditor’s remuneration
Audit services – Lumos USA 13 10
Other services - 1
Depreciation of owned fixed assets 25 149
Operating lease rentals
Land and building 29 130

10) Staff costs and remuneration of key management personnel

The staff headcount numbers for the period are as follows:

10) Staff costs and remuneration of key management personnel
The staff headcount numbers for the period are as follows:
2023 2022
No. No.
Management and administrative staff 16 22
Fundraising and donor communication staff 12 10
Programmes staff 26 39
Total 54 71

61

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

10) Staff costs and remuneration of key management personnel (continued)

Staff costs relating to the above persons are as follows:

Staff costs relating to the above persons are as follows:
2023 2022
£’000 £’000
Wages and salaries 2,547 2,909
Social security costs 331 398
Pension costs 126 142
3,004 3,449
Agency staff 372 304
Total 3,376 3,753

The number of employees whose emoluments during the year exceeded £60,000 were:

2023 2022
No. No.
£60,001–£70,000 2 2
£70,001–£80,000 2 –
£80,001– £90,000 1 3
£90,001–£100,000 1 –
£110,001 - £120,000 – 1
£120,001 - £130,000 1 1
Total 7 7

Pension costs totalling £29k (2022: £30k) were paid in respect of the above employees.

The key management personnel of the Lumos Foundation comprise the Trustees, the Chief Executive Officer and the Executive Team. The total employee remuneration (including benefits) of the key management personnel of the charity was £627k (2022: £578k). Key management personnel include permanent staff as well as agency staff and independent contractors backfilling vacant positions.

During 2022, the Trustees decided to reduce the number of staff as part of an organisational restructure and this is reflected in the 2022 results.

No termination payments were paid during 2023. During 2022, termination payments were paid of £123k.

11) Trustees’ expenses and remuneration

No Trustee, nor any persons connected with them, received any remuneration from the charitable company during the year (2022: £nil).

Expenses incurred by the Trustees and reimbursed by the charitable company amounted to £5,540 for three Trustees’ travel expenses (2022: £89 for two Trustees’ travel expenses).

62

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

12) Taxation

Lumos Foundation is a registered charity and, therefore, is not liable to income tax or corporation tax on income and gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

13) Tangible and intangible fixed assets of Charity and Group

Intangible Fixed Tangible Fixed Tangible Tangible Fixed Tangible Tangible and
Assets Assets Fixed Assets Assets Fixed Assets Intangible Fixed
Assets
Leasehold Furniture, Fittings and
Software Land and Buildings Improvements Equipment Motor Vehicles Total
£’000 £’000 £’000 £’000 £’000 £’000
Cost
At 1 January 2023 236 125 – 184 25 570
Additions – – – 35 – 35
Disposal – – – (7) – (7)
At 31 December 2023 236 125 – 212 25 598
Depreciation
At 1 January 2023 221 17 – 159 23 420
Charge for the year 13 3 – 6 2 24
Disposal – – – – – –
At 31 December 2023 234 20 – 165 25 444
Net book value
At 31 December 2023 2 105 – 47 – 154
At 31 December 2022 15 108 – 25 2 150

Lumos Foundation Land and Buildings’ opening position represents one property in Moldova, the construction of which was funded by Lumos to support the delivery of children’s care services by local authorities there. It has always been the intention of the Trustees to transfer the asset to Moldovan authorities for the furtherance of the charity’s objects, and to meet contractual commitments provided at the time of funding. The grant of the property is planned for 2024.

63

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

14) Investments of Charity and Group

2023 2022
£’000 £’000
Listed investments
Market value at 1 January 551 1,533
Additions at cost 85 69
Disposals proceeds (54) (960)
Net investment losses (5) (91)
Market value at 31 December 577 551
Cash held by investment managers for reinvestment 22 16
Total 599 567

Listed investments held at 31 December 2023 were managed on behalf of Lumos by Close Brothers and comprised the following:

and comprised the following:
2023 2022
£’000 £’000
UK fixed interest 162
150
UK equity 64
63
Overseas equity 234
212
Commodities 18
17
Property 17
18
Alternatives 66
75
Multi asset 16
16
Market value at 31 December 577
551
Cost of listed investments at 31 December 506
505

15) Debtors

Group Charity Group Charity
2023 2023 2022 2022
£’000 £’000 £’000 £’000
Other debtors 26 26 111 111
Prepayments 190 175 143 86
Accrued royalty income 616 616 953 953
Trade debtors and other accrued income 170 157 240 136
Amount due from subsidiary undertaking — 60 — 206
Total 1,002 1,034 1,447 1,492

64

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

16) Creditors

a) Amounts falling due within one year

16) Creditors
a) Amounts falling due within one year
Group Charity Group Charity
2023 2023 2022 2022
£’000 £’000 £’000 £’000
Trade creditors 181 177 119 102
Taxation and social security 40 40 36 36
Accruals 76 64 75 50
Amounts due to subsidiary undertakings — 1,225 — 3,065
Other creditors 107 107 115 115
Deferred income 8 8 507 507
Total 412 1,621 852 3,875

b) Amounts falling due in more than one year

Group Charity Group Charity
2023 2023 2022 2022
£’000 £’000 £’000 £’000
Loan — — 124 —
Total — — 124 —

In 2022, the loan balance of £124k fell due after more than five years. It consisted of a COVID-19 Economic Injury Disaster loan taken up by Lumos Foundation USA Inc. The balance was cleared during 2023.

c) Analysis of deferred income

Group Charity
2023 2023
£’000 £’000
At 1 January 2023 507 507
Recognised as income in year (500) (500)
Deferred in year 1 1
At 31 December 2023 8 8

The 2023 balance relates to income received in Moldova to be recognised in future periods when expenditure arises. The £507k at 31 December 2022 relates to a donation and consists of income received in the year that relates to the following year.

65

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

17) Provisions for liabilities and charges

Group Charity
2023 2023
£’000 £’000
At 1 January 2023 195 195
Charges in Consolidated Statement of Financial Activities (195) (195)
At 31 December 2023 — —

Provisions include estimated probable future costs in respect of dilapidations. These were paid in 2023.

18) Designated funds

Group Charity
2023 2023
£’000 £’000
Balance as at 1 January 2023 — —
New designations 2,500 2,500
Utilised in the year:
Strategy refresh (65) (65)
Redirecting funding campaign (28) (28)
Non-programmatic support of 100% pledge (800) (800)
Balance as at 31 December 2023 1,607 1,607

Strategy refresh : work was undertaken during 2023 to refresh the Lumos strategy for the period 2024 to 2026.

Redirecting funding campaign : this is a restricted project that focuses on the funding flows of philanthropy into institutions with the aim to redirect the funding into family strengthening and alternative care services.

Non-programmatic support of 100% pledge : these funds are applied to non-programme costs during 2023.

The balance of £1.6m at 31 December 2023 has been designated by the Trustees to be spent during 2024 on specific (non-programmatic) strategic projects at their discretion.

66

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

19) Restricted funds

At 1 Jan 2023 Income Expenditure At 31 Dec 2023
£’000 £’000 £’000 £’000
Redirecting philanthropic funding 108 50 94
64
Education and child institutionalisation 24 23 47
–
Deinstitutionalisation – Colombia – 186 171
15
Early childhood intervention – Moldova 80 254 171
163
Ukraine Emergency Response – Ukraine and Moldova 354 2,244 826 1,772
Other 43 183 151
75
Total 609 2,940 1,460
2,089
At 1 Jan 2022 Income Expenditure At 31 Dec 2022
£’000 £’000 £’000 £’000
Redirecting philanthropic funding 152 57 101
108
Education and child institutionalisation 94 62 132
24
Deinstitutionalisation – Colombia 48 106 154
–
Early childhood intervention – Moldova – 148 68
80
Ukraine Emergency Response – Ukraine and Moldova – 2,441 2,087
354
Building Enduring Systems to end Trafficking (BEST) – Haiti – 678 678
–
Changing the Way We Care – 3 3
–
Other 66 133 156
43
Total 360 3,628 3,379
609

Restricted funds are funds with specific restrictions imposed by donors. These restrictions often relate to a particular geographic region or area of technical expertise and sometimes include a deadline by which time the funds must be spent.

•

Redirecting philanthropic funding

Lumos is running a campaign, funded by UBS Optimus Foundation, that focuses on the funding flows of philanthropy into institutions with the aim to redirect this funding into family strengthening and alternative care services.

• Education and institutionalisation

Lumos has undertaken important research that seeks to better understand and raise awareness of the links between education and child institutionalisation, as part of Lumos’s work in tackling the drivers of family separation. This research is funded by UBS Optimus Foundation.

•

Deinstitutionalisation - Colombia

Lumos’s programme in Colombia works to influence and support a critical shift from reliance on residential institutions, to the provision of services which enable children to live safely in families and

67

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

19) Restricted funds (continued)

benefit from community-based care. During 2022, the programme received funding from Comic Relief USA, Latin American Children’s Trust and a private donor.

• Early childhood intervention - Moldova Working with the Moldovan Government, Lumos is piloting an integrated approach to early childhood intervention (ECI) services in two regions in Moldova. This project seeks to provide vulnerable children and their families with accessible and appropriate care within their communities. This project is cofunded by Aperitivo, the Karl Kahane Foundation, Fondation Dora and Medicor Foundation.

• Ukraine Emergency Response - Ukraine and Moldova Lumos’s Ukraine Emergency Response programme was started in March 2022 following the invasion of Ukraine in February 2022. Lumos has responded to this crisis through programmes in Ukraine and Moldova, working with partner organisations and Government to deliver a humanitarian response to those displaced by the war in Ukraine and refugees in Moldova. Lumos’s response has focused on needs assessment, emergency aid (food and basic needs), family reunification and support, child protection and psychosocial support for trauma affected children and families, as well as working to influence childcare reform to protect the right of all children to grow up in families for the longerterm. This work is funded by UBS Optimus Foundation, Comic Relief and Comic Relief USA.

• Building Enduring Systems to end Trafficking (BEST) - Haiti Lumos works in Haiti to support the Building Enduring Systems to end Trafficking (BEST) project in Haiti, to deliver transformative progress on ending human trafficking, with a focus on child trafficking. This was funded by a grant from the United States Agency for International Development (USAID). Lumos closed its operations in Haiti in 2022.

•

Changing the Way We Care - Global

CTWWC is a consortium of Catholic Relief Services, Lumos and Maestral International delivering a programme designed to move the needle on care reform through demonstration projects in three countries alongside global campaigning and advocacy. Lumos’s participation in this consortium ended during 2022.

20) Analysis of net assets between funds of Group and Charity

The net assets of the Group analysed between funds are as follows:

Unrestricted Unrestricted Restricted 2023 Unrestricted Restricted 2022
Funds Funds Funds Total Funds Funds Funds Total Funds
General Designated
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Tangible fixed assets 152 – –
152		 135 –
135
Intangible fixed assets 2 – –
2		 15 –
15
Investments 599 – –
599		 567 –
567
Current assets 2,276 1,607 2,089
5,972		 3,394 609
4,003
Current and long term liabilities and
provisions (412) – –
(412)		 (1,171) –
(1,171)
Total 2,617 1,607 2,089
6,313		 2,940 609
3,549

Included within investments above are cumulative unrealised losses of £5k (2022: losses of £91k).

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Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

20) Analysis of net assets between funds of Group and Charity (continued)

The net assets of the Charity analysed between funds are as follows:

Unrestricted Unrestricted Restricted 2023 Unrestricted Restricted 2022
Funds Funds Funds Total Funds Funds Funds Total Funds
General Designated
£’000 £’000 £’000 £’000 £’000 £’000 £’000
Tangible fixed assets 152 – –
152
135		 – 135
Intangible fixed assets 2 – –
2
15		 – 15
Investments 599 – –
599
567		 – 567
Current assets 3,154 1,607 584
5,345
3,088		 584 3,672
Current and long term liabilities and
provisions		 (1,621) – –
(1,621)
(4,070)		 – (4,070)
Total 2,286 1,607 584
4,477
(265)		 584 319

21) Related party transactions

Lumos Foundation recognises Lumos Foundation USA Inc. and other members of the Lumos Foundation group as related parties. Transactions and further details are provided in note 3.

There were no other related party transactions during 2023 and 2022.

22) Financial commitments

At 31 December 2023 the charitable company has total minimum lease commitments under noncancellable leases as follows:

Property Other Property Other
2023 2023 2022 2022
£’000 £’000 £’000 £’000
Within one year 101 4 4 13
Between one and five years 4 – – –
Longer than five years – – – –
Total 105 4 4 13

69

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

23) Comparative consolidated statement of financial activities

Unrestricted Restricted 2022
Funds Funds Total Funds
£’000 £’000 £’000
Income and expenditure
Income from:
Royalties 1,856 — 1,856
Donations and Gift Aid 1,303 1,664 2,967
Charitable activities
Grant income 106 1,917 2,023
Investment income 21 — 21
Income from Trading activities 230 — 230
Other income 5 47 52
Total income 3,521 3,628 7,149
Expenditure on:
Raising funds:
Raising funds and donor communication
costs 1,444 — 1,444
Investment management costs 5 — 5
Charitable activities 2,582 3,379 5,961
Total expenditure 4,031 3,379 7,410
Net (expenditure)/income (510) 249 (261)
**Other recognisedgains/(losses): **
Net loss on investments (91) — (91)
Other recognised gains 295 — 295
Net movement in funds (306) 249 (57)
Reconciliation of funds:
Total funds brought forward 3,246 360 3,606
Total funds carried forward 2,940 609 3,549

70

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

Reference and administrative details

President of Lumos Foundation (UK) and Patron, Lumos Foundation USA Inc.

J.K. Rowling

Trustees, Lumos Foundation (UK)

C. Copland (Chair of Trustees)

U. Ali

W. DiMichele

N. Gandhi (appointed 28[th] September 2023)

N. Gill

D. Mulenga

J. Paul

K.Wills (resigned 6[th] July 2023)

Directors, Lumos Foundation USA Inc.

L.Little (Chair and Treasurer)

Bella Berns (appointed 4[th] December 2023)

W. DiMichele (resigned 4[th] December 2023)

Directors, Lumos Foundation Operations Ltd.

R. Dattani

C. Copland (resigned on 23[rd] May 2023)

P. McDermott

Trustees, Friends of Lumos USA Ltd. (dissolved 18 June 2024)

Y. Beauchamp (appointed 6[th] July 2023) (resigned 18[th] June 2024)

C. Deshpande (resigned on 6[th ] July 2023)

M. Paasch (appointed 6[th] July 2023) (resigned 12[th] March 2024)

Chief Executive Officer, Lumos Foundation (UK)

P. McDermott

Company Secretary, Lumos Foundation (UK)

C. Rossiter (resigned 22[nd] February 2024)

Registered Office Lumos Foundation (UK)

3-7 Temple Avenue, London EC4Y 0DA, UK

71

Lumos Foundation | Notes to the Financial Statements for the year ended 31 December 2023

Lumos Foundation USA Inc.

557 Broadway, New York NY 10012, USA

Friends of Lumos USA Ltd (dissolved 18 June 2024)

3-7 Temple Avenue, London EC4Y 0DA, UK

Lumos Foundation Operations Ltd.

3-7 Temple Avenue, London EC4Y 0DA, UK

Lumos Foundation -UK Company registration number

05611912 (England & Wales)

Lumos Foundation -UK Charity registration number

1112575

US IRS reference number

47-2301085

Friends of Lumos USA Ltd – UK Company registration number 09502092 (England & Wales)

Friends of Lumos USA Ltd – UK Charity registration number

1170023

Lumos Foundation Operations Ltd- UK Company registration number 12369753 (England & Wales)

Auditor (UK)

Saffery LLP, 71 Queen Victoria Street, London EC4V 4BE, UK

Bankers (UK)

HSBC Bank plc, The Peak, 333 Vauxhall Bridge Road, Victoria, London SW1V 1EJ, UK

Solicitors (UK)

Farrer & Co LLP, 66 Lincoln’s Inn Fields, London WC2A 3LH, UK

Investment Managers (UK)

Close Brothers, 10 Exchange Square, Primrose Street, London EC2A 2BY, UK

This page forms part of the Trustees’ annual report.

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THANK YOU

AMY AND PHILIP GOLDMAN[|] ANDREW HEDDEN[|] AUDIBLE[|] BILLY DIMICHELE BLOOMSBURY CARLSEN VERLAG GMBH (BONNIER MEDIA)[|] BRIAN VAN KLOMPENBERG COMIC RELIEF UK[|] COMIC RELIEF USA[|] COMMAND COMPANIES[|] EBM CHARITABLE TRUST EDEN PRODUCTIONS[|] EDITIONS GALIMARD JEUNESSE[|] FIONA AND PHILIP GREEN FONDATION DORA[|] FUTURE DIRECTIONS FOUNDATION[|] HACHETTE USA[|] JLL KEVIN KIRK KIRKLAND & ELLIS LLP[|] LACT PROGRAMME MARIO C BAUER & NATALIA SOBECKA - APERITIVO INTERATIONAL B.V. MEDICOR FOUNDATION, LIECHTENSTEIN[|] ORBIA[|] OUTCOMESX PENGUIN RANDOM HOUSE SALAMANDRA[|] POTTED PRODUCTIONS LIMITED POTTERMORE[|] SAUVAGE FAMILY FOUNDATION[|] SCHOLASTIC INC. SABEEN MINNS[|] SAT CHIT ADANDA FOUNDATION[|] SOUTER CHARITABLE TRUST SONIA FRIEDMAN & COLIN CALLENDAR[|] SEAN CERCONE SHOOSMITHS | UBS OPTIMUS FOUNDATION[|] THE BLAIR PARTNERSHIP THE HUGH FRASER FOUNDATION[|] THE JOHN HORSEMAN TRUST THE LADY YUEN PENG MCNEICE CHARITABLE FOUNDATION[|] THE NOBLE COLLECTION WARNER BROS. DISCOVERY

WITH SPECIAL THANKS TO: BANK OF AMERICA[|] HARRY POTTER AND THE CURSED CHILD KARA MINOGUE LLC[|] SALANI EDITORE WILLIS TOWER WATSON STEP VISUAL COMMUNICATIONS

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Lumos Foundation, founded by J.K. Rowling, is a company limited by guarantee Registered in England and Wales No. 5611912. Registered Charity No. 1112575.

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