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2021-12-31-accounts

TEACH A MAN TO FISH UK LIMITED (Company limited by guarantee no. 5533946 registered charity no. 1112699)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

TEACH A MAN TO FISH UK LIMITED

(Company limited by guarantee no. 5533946, registered charity no. 1112699)

REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2021

CONTENTS
Page
Legal and administrative information 1
Report of the Trustees 2
Report of the Auditors 12
Statement of financial activities 16
Balance sheet 17
Statement of Cash Flows 18
Notes to the financial statements 19

TEACH A MAN TO FISH UK LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 December 2021

Trustees N Kafka
J Stephenson (chair)
H Johnson (treasurer)
N Blackburn (resigned 12th May 2021)
S McMillan
J MacMahon
G Walker
N Costanzo (appointed 21st July 2021)
Executive Director N Kafka
Chair J Stephenson
Treasurer H Johnson
Company reg. no. 5533946
Charity reg. no. 1112699
Registered office Unit F5, 89-93 Fonthill Road
Finsbury Park
London N4 3JH
Auditors Sterling Partners Limited
Chartered Accountants and statutory auditors
774-780 Wilmslow Road
Manchester
M20 2DR
Bankers The Cooperative Bank plc
1 Balloon Street
Manchester
M60 4EP
Barclays Bank plc
254-256 Seven Sisters Road
London N4 2HZ

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

The Trustees, who are directors of the Charity for the purposes of the Companies Act, and Trustees for charity law purposes, submit their annual report and the financial statements of Teach A Man To Fish UK Limited for the year ended 31 December 2021. The Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) on 'Accounting and Reporting by Charities'.

STRUCTURE, GOVERNANCE & MANAGEMENT

Governing document: Memorandum & Articles of Association

Constitution: Company limited by guarantee

Trustee selection: Trustees may be appointed by the existing Trustees (directors) or by a vote by eligible members

The Trustees play a primary role in ensuring good governance and functioning of the charity. The Board's role, functions and responsibilities are clearly defined.

Trustees' induction and training

New trustees are invited and encouraged to attend a series of short training sessions to familiarise themselves with the charitable company and the context within which it operates. These are led by the Chief Executive of the charitable company and cover:

The Trustees are responsible for the approval of annual budgets, senior staff positions being created in the UK and overseas, selection of the independent examiner/auditor and the selection of the CEO.

Key Management Personnel Remuneration

The Trustees consider the board of Trustees and the Chief Executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 9 to the accounts.

Trustees are required to disclose all relevant interests and register them with the Chief Executive and in accordance with the charity’s policy withdraw from decisions where a conflict of interest arises.

The pay of the charity’s Chief Executive is reviewed annually and increased ordinarily in accordance with the organisational Pay Policy which applies to all staff. The remuneration is also bench-marked with charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

PUBLIC BENEFIT

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims & objectives and planning future activities.

OBJECTS & ACTIVITIES

Teach A Man To Fish’s objectives as defined in its Memorandum and Articles of Association incorporated on the 11 August 2005, in effect for the period of this report, were:

To promote, develop, and provide assistance for programmes of education for people internationally. In particular those under the age of twenty. As a means of achieving poverty reduction in those countries;

To promote other charitable purposes in connection with the above.

Mission

Teach A Man To Fish is guided by a simple, all-encompassing mission: to empower young people with the skills they need to succeed, in school, work, and life.

TEACH A MAN TO FISH: SKILLS FOR SUCCESS IN EDUCATION, WORK & LIFE

Teach A Man To Fish represents a bold vision for education. We transform the lives of children and young people in developing countries through entrepreneurship education.

Our model of practical learning; creating and managing a viable business, develops the skills young people need to succeed in school, work and life and make a positive impact on the world around them.

We work directly with schools and through partners to build teachers’ capacity, helping them to adopt ‘learningby-doing’ and experiential education approaches to improve learning outcomes.

The school-run businesses established through our support not only better prepare young people for the future, but also generate extra income for their schools - enabling under-financed institutions in developing countries to create additional resources to strengthen their education provision and help those students most in need. A school that understands entrepreneurship is one that can teach entrepreneurship and the skills needed for success in work and life - and in doing so empower future generations of students to break out of the cycle of poverty, for good.

School closures caused by the Covid-19 pandemic has only exacerbated the number of young people without access to quality education. Teach A Man To Fish responded to this by expanding its programs and partnerships, working with out of school clubs, refugee settlements and developing an online offering, to ensure continued access to education for those that need it most.

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

About Teach A Man To Fish

Through our programmes, we work with educators and young people around the world to set up youth-led enterprises which are both educational and profitable. We equip educators with skills and resources to help young people gain practical business experience and to develop essential life skills such as teamwork, leadership, communication and problem-solving through a step by step process of setting up their own business. Over the last 15 years we have reached 430,000 people, giving them the tools and the opportunity to reach their full potential.

Globally nearly 68 million young people are unemployed and more than 200 million young people are either unemployed or have work but live in poverty. (ILO, 2021).

Getting young people into decently paid work is not just essential for their future, but for the future of local communities, countries and our global society.

In developing countries, education is seen as a tool to eradicate poverty while education that inspires entrepreneurship is seen as a route to increasing job opportunities. Hand in hand, entrepreneurship and education play a vital role in enhancing a country’s economic development.

There is also growing concern that education systems around the world are not fit for purpose, and that academic education is no longer enough to equip young people with the skills they need to thrive. Beyond academic learning, there is a suite of 21st century skills that are widely accepted to be critical for young people’s future success such as critical thinking, problem solving and communication.

Our programmes focus on these skills and the experiences our young entrepreneurs gain help them to learn better, continue in education, secure a decent job or set up their own business when they leave school. Ultimately, we provide tools for young people to adapt to an ever-changing world, and give them the confidence to seize the opportunities that are around them.

ACHIEVEMENTS & PERFORMANCE

2021 in context

While 2020 was a year for adapting and innovating, 2021 was the year in which Teach A Man To Fish demonstrated the resilience of our programmes, and the grit of our teams, teachers and young people in the face of continuing upheaval and disruption to education.

The impact of Covid decimated the education world, and the long term effects won’t be fully recognised for several years. Many developing countries closed schools for long periods of time. In Uganda, one of the poorest nations, schools remained closed for nearly 2 years. In 2021 young people found themselves once again grappling with more self-directed learning, away from the structure of the classroom, and so we focussed on responding to their needs and their teachers’ needs.

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

2021 in numbers

Building on success

In 2021 we:

Programme Highlights

School Enterprise Challenge

Our flagship programme, the School Enterprise Challenge has been running since 2011. It is an educational programme that is available to students in any school around the world through our online platform and for young people in low-resource schools through our field offices, teams and partnerships. The programme guides teachers to facilitate their students in building their skills through setting up a real student-led business in their school, selling real products or services to real customers.

Schools in the programme create business plans and sustainable ventures, learn business operations and how to create financials and reinvest profits. While the main focus is imparting life skills, the school businesses each generate an average profit of £130 towards education and community needs.

In 2021, we demonstrated that the School Enterprise Challenge is able to nurture the skills and self-directed learning of young people when traditional school systems and days are filled with uncertainty and disruption.

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Report of the Trustees For the year ended 31 December 2021

School teams from 84 countries connected in school when possible and in out-of-school clubs and online, planning different ways to carry out their School-business activities. Throughout the year, a total of 17,354 learners planned 480 School-businesses.

Spotlight on School Enterprise Challenge Global - our online platform

Throughout 2021, we responded to the varying needs of students and teachers as some schools taught inperson, others remotely or in a hybrid mode. We provided COVID-specific guidance for each module and adapted activity worksheets for COVID-specific considerations, providing downloadable worksheets for students. We introduced new channels to help young people thrive in the programme including a Facebook discussion group for teachers and fortnightly Q&A online meetings and continued to support and engage participants through online events, WhatsApp groups and mini-competitions.

In 2021 2,638 teachers discovered and developed their skills in student-centred experiential learning approaches to use in the classroom and online as a result of training and guidance in the School Enterprise Challenge and our series of teacher webinars. We worked harder than ever before to develop understanding and skills among teachers. We provided teachers with more guidance, resources and tools to stimulate active learning, to link concepts to real-life situations, and include learner discussion in their classrooms to stimulate critical-thinking. We are confident that this will have had a pivotal benefit for all these teachers’ other students - at least 158,280 additional young people every year.

Spotlight on School Enterprise Challenge - Uganda

Uganda is a very youthful country and the long term closure of schools meant that many young people simply had no way of continuing with their education. We were determined to provide them with the chance to build their knowledge and skills and in 2021 welcomed 1,200 students from 50 different schools into out-of-school business clubs. We continued to adapt our programmes so that they could be delivered through out-of-school business clubs and trained teachers specifically to lead short-term activities and lessons. These clubs engaged young people who were most at risk of dropping out of school permanently as a result of the pandemic.

2021 also saw the completion of a two year partnership with Education Cannot Wait, working in refugee settlements in Northern Uganda. Throughout the lifespan of the project we gave 2,000 learners from 60 refugee schools the opportunity to increase their life and business knowledge, improving their learning outcomes and life chances and upskilling them for employment after school.

Spotlight on School Enterprise Challenge - Central America

67% of the Honduran population are under 29, and youth unemployment is an urgent problem. Throughout 2019-2021 we worked hand-in-hand with the Honduran Ministry of Education to design a pilot project which aligned our School Enterprise Challenge programme with the national curriculum for secondary students in Grades 10-12.

Nicaragua also has a young population, high youth unemployment and high dropout rates in school. It was therefore vital in 2021 that we could continue to empower young students with the life skills and business knowledge needed to navigate these challenges.

An extension of our existing project to deliver School Enterprise Challenge to 155 schools and over 6000 marginalised children saw 240 more young people choosing to join their out-of-school club and take part in planning and developing their own business, meaning they had access to learning and socialisation despite ongoing disruption to schooling due to Covid.

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Report of the Trustees For the year ended 31 December 2021

Enterprise Adventure

Our online app for young adventurers, first developed in 2020 in response to Covid-19 for young people who couldn’t access our entrepreneurship education through schools, or for those who had the motivation to try something on their own, has been refined in 2021 to include more missions and new features which delighted our participants - videos and weekly quizzes, “Adventurer of the Week” articles, badges for specific activities, and a Leaderboard displaying the most active Adventurers.

Demand for the programme increased with a growth in learners registering and continuing through the programme. 2,381 young people registered, 929 progressed significantly through the programme and learnt new skills, while 237 young people completed the whole programme in just 4 months. Adventurers planned businesses that ranged from personal assistance in Macedonia to bicycle renting in Pakistan.

Spotlight on Enterprise Adventure in South Africa

As the disruption to schooling in South Africa also continued in 2021, we strove to engage young people and teachers in practical entrepreneurship education. Through our Enterprise Adventure workbooks, over 400 learners developed key skills for success and 75 teachers strengthened their pedagogical skills through participation in our series of professional development webinars.

Youth Enterprise Challenge

Through partnership with Opportunity International and Hanns R. Neumann Stiftung (HRNS) our Youth Enterprise Challenge programme has supported out-of-school youth (15-30yr old men and women) with low literacy levels in rural communities in Uganda.

In 2021 we supported over 152 young farmer groups to plan, set up and run a group business.

From the 2020 cohort, increased confidence and knowledge in financial literacy, market research and forward planning enabled 250 high achieving group members (high flyers) to set up businesses that can support their families and local communities. We have seen that these high achievers can earn three times more monthly income than an average rural youth.

Partnership working

In 2021, the School Enterprise Challenge global team continued to work with operational partners to increase our reach in key target countries. These include Fundación Paraguaya in Paraguay; the Bharti Foundation in India; Conalep in Mexico and Mtuli Foundation in Malawi.

We also worked with the following partners in Central America: Fundación Terra, Good Neighbours, Red-ITC, Educo, Fabretto, Care, Cargill and Comité Mano Vuelta and Food for the Hungry and ACWECA in East Africa.

Training & Consultancy

As an organisation that seeks to unlock the entrepreneurial spirit of young people as a strategy for ensuring their future success, it is only right that Teach A Man To Fish should practice what it preaches. By pursuing our core mission at the same time as generating income our aim is to increase our own financial sustainability, and introduce new ways of advancing our agenda for social change.

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Report of the Trustees For the year ended 31 December 2021

We continue to use our expertise to provide tailored assistance on a consultancy basis to organisations and schools that are interested in establishing profitable and educational school businesses or to strengthen their projects through entrepreneurship. We have worked with Via Don Bosco, The British Council, PROBONO Germany, Real Partners Uganda, Save the Children Thailand, Opportunity International and the UK Department for International Development at the local level in Africa, Asia and Latin America. In 2021, we embarked on a collaboration with Resolute Mining to bring entrepreneurship education to schools in 5 villages surrounding the Mako Gold mine in Senegal.

FUTURE PLANS: 2022 AND BEYOND

Since 2006 we have supported over 400,000 young people, changing their lives through practical education that develops their resolve, encouraging further education, job seeking and even job creation.

We know there is demand for our programmes so for 2022 we will inspire, enable and motivate more schools to take part in and complete the School Enterprise Challenge.

We will launch Version 2 of the Enterprise Adventure, offering users a more captivating experience, leading young people beyond planning to launching and running their business. With improved content, resources and technology we aim to reach more Adventurers worldwide, transforming the scale of impact for young people.

In Honduras, the Ministry of Education has announced a reform of their current education system and launched their National Entrepreneurship Programme - to be rolled out to all schools from 2022. Teach A Man To Fish has been officially recognised as the lead organisation in supporting implementation of this. The project will bring the School Enterprise Challenge to 240,000 young people in 6000 schools across the country in a three year period, setting the foundations for the programme to reach students in all schools from early years to the end of high school.

FINANCIAL REVIEW

Reserves Policy

We aim to hold a level of general reserves sufficient to meet unforeseen financial requirements and implement new strategic priorities whilst not retaining income longer than necessary. Unforeseen requirements could be the result of unplanned falls in income or increases in expenditure. We also allow for a working capital buffer and for factors such as timing differences between income and related expenditure and the liquidity of our assets.

Currently our target reserves are between £329,000 and £378,000. This is equivalent to approximately 4 months of total budgeted expenditure.

As at 31 December 2021, our general reserves stood at £360,304 (2020 - £376,371). Our organisational budget for the current year provides for a surplus in order to move our reserves towards our target range. The restricted funds were £229,430 (2020 - £250,513) at the year end.

We review our policy when we set the annual budget for the year ahead and at other times as deemed appropriate. We currently consider all our unrestricted funds to be general reserves as we do not hold fixed assets or designated funds.

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

Risk Review

The Trustees are responsible for the management of the risks faced by the Charity and have examined the major strategic, business and operational risks to which the Charity is and may be exposed. They are satisfied that the systems and controls are in place to mitigate and manage exposure to such major risks identified by the Trustees. They continue to review current processes recognising that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

The Charity’s principal risks can be broadly grouped as follows:

Financial – this includes risk to income from insufficient success in fundraising, lack of diversity of income source, failure to manage restricted funding within budgets, lack of control of unrestricted expenditure. These risks are managed by maintaining a solid funding pipeline from diverse sources with a robust financial recordkeeping system in places and tight financial management with regular checks.

Operational – this includes risk to our ability to operate due to restrictive government measures, civil unrest, pandemic, regulatory or legal contraventions etc. Additionally it is recognised that the charity is operating in a number of countries which are on the FATF “grey-list” of countries under “increased monitoring” due to their higher risk of money laundering and terrorism financing. Potential operational risks are considered monthly by senior management, as well as quarterly by the Board. Action plans are agreed to minimise the impact of emerging issues as far as possible. Teach A Man to Fish has a system of financial controls to ensure the all funds are used to pursue our charitable purpose. Strict anti-money laundering and terrorist financing policies are in place and adhered to rigorously, these are documented in the finance manual and included as part of staff training.

People – this includes risks due to over-reliance on key personnel, high turnover, staff welfare and security, and adhering to employment law across a number of territories. These risks are mitigated by maintaining an active staff development programme, regular review of terms of employment, staff welfare and security, and by taking appropriate legal advice from qualified local experts to ensure compliance with regulatory requirements.

Review of the Financial Statements

As ever we are extremely grateful to the large number of individuals and growing number of forward-thinking foundations that chose to support us this year. Alongside income from our Charitable Activities, meaning that despite the Covid19 pandemic we experienced a relatively modest fall in our income to £1,089,523 in the year to 31 December 2021 (which compares to £1,093,908 in 2020).

Restricted income included in the financial statements for 2021 represents grants in support of projects in Central America, Uganda and South Africa as well as two major global programmes to stimulate and recognize entrepreneurship in education. Donations from individual donors where the use has not been specified, alongside income from consultancy and training activities, account for the greater part of unrestricted income.

Project expenditure during the year encompasses a wide range of activities from direct support for schools to establish education-oriented income generation projects, to the development of an progressive web-app for teenagers internationally to acquire entrepreneurial and critical life skills.

Teach A Man To Fish continues to keep its overheads low as reflected in the modest non-project related expenditure relative to our income. This relatively low cost-base ensures that Teach A Man To Fish is highly efficient at applying donations to projects on the ground, and constitutes a clear advantage in comparison to many of our peers.

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

Restricted reserves relate to ongoing projects for which funds will be applied in the coming year.

The positive surplus in unrestricted funds available at year end will carry forward into the next year supporting our continued organisational capacity to provide assistance to entrepreneurial schools in line with our charitable objectives.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company and charity law applicable to charities in England/Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Trustees have:

The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

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

Statement of disclosure of information to auditors

We, as the trustees of the charity who held office at the date of approval of these financial statements as set out on page 1 each confirm, so far as we are aware, that:

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TEACH A MAN TO FISH UK LIMITED

Report of the Trustees For the year ended 31 December 2021

Preparation of the report

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

Auditors

The auditors, Sterling Partners Limited, have indicated their willingness to accept re-appointment under Section 485 of the Companies Act 2006.

This report was approved and authorised for issue by the Trustees on 15 July 2022 and signed on its behalf by:

Nicholas Kafka Trustee

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TEACH A MAN TO FISH UK LIMITED

Report of the Independent Auditors to the Members of Teach a Man to Fish UK Limited

Opinion

We have audited the financial statements of Teach A Man to Fish (the ‘charitable company’) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the 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

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 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.

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.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.

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

Other information

The Trustees are responsible for the other information. The other information comprises the information the Annual Report, other than the financial statements and our Report of the Auditors 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.

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TEACH A MAN TO FISH UK LIMITED

Report of the Independent Auditors to the Members of Teach a Man to Fish UK Limited

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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

Responsibilities of trustees

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

In preparing the financial statements, the Trustees are responsible for assessing the 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 charitable company or to cease operations, or have no realistic alternative but to do so.

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TEACH A MAN TO FISH UK LIMITED

Report of the Independent Auditors to the Members of Teach a Man to Fish UK Limited

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our audit testing might include testing complete populations of certain transactions and balances, possibly using data auditing techniques. However, it typically involves selecting a limited number of items for testing, rather than testing complete populations. We will often seek to target particular items for testing based on their size or risk characteristics. In other cases, we will use audit sampling to enable us to draw a conclusion about the population from which the sample is selected.

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

Based on our understanding of the company and industry, we identified that the principal risks of noncompliance with laws and regulations related to compliance with Part 8 of the Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to use of income or assets of the charitable company for activities that do not support the objects of the charitable company.

Audit procedures performed included:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. 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 for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

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TEACH A MAN TO FISH UK LIMITED

Report of the Independent Auditors to the Members of Teach a Man to Fish UK Limited

Use of our report

This report is made solely to the 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 charitable company’s members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Narges Cyroos (Senior Statutory Auditor) Date: 15 July 2022 For and on behalf of Sterling Partners Limited Chartered Accountants and Statutory Auditors 774-780 Wilmslow Road Manchester M20 2DR

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TEACH A MAN TO FISH UK LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating Income and Expenditure Account & Statement of Total Realised Gains and Losses) For the year ended 31 December 2021

Unrestricted
Funds
Note
2021
£
INCOME FROM:
Donations
2
52,911
4
60,747
Investments
5
-
Other income
3
4,177
TOTAL INCOME
117,835
EXPENDITURE ON:
Raising funds
31,764
Charitable activities
87,993
TOTAL EXPENDITURE
6
119,757
(1,922)
Transfers between funds
12
(14,145)
NET MOVEMENT IN FUNDS
(16,067)
Reconciliation of funds:
376,371
360,304
£
TOTAL FUNDS
AT 1 JANUARY 2021
TOTAL FUNDS
AT 31 DECEMBER 2021
Charitable activities
NET
INCOME/(EXPENDITURE)		 Restricted
Funds
2021
£
969,916
-
171
1,601
971,688
-
1,006,916
1,006,916
(35,228)
14,145
(21,083)
250,513
229,430
**£ **		 TotalUnrestricted
Funds
Funds
2021
2020
£
£
1,022,827
94,869
60,747
92,146
171
-
5,778
40,739
1,089,523
227,754
31,764
62,073
1,094,909
176,884
1,126,673
238,957
(37,150)
(11,203)
-
-
(37,150)
(11,203)
626,884
387,574
589,734
£
376,371
_£ _		 TotalUnrestricted
Funds
Funds
2021
2020
£
£
1,022,827
94,869
60,747
92,146
171
-
5,778
40,739
1,089,523
227,754
31,764
62,073
1,094,909
176,884
1,126,673
238,957
(37,150)
(11,203)
-
-
(37,150)
(11,203)
626,884
387,574
589,734
£
376,371
_£ _		 Restricted
Funds
2020
£
865,837
86
231
-		 Total
Funds
2020
£
960,706
92,232
231
40,739
1,089,523 227,754 866,154 1,093,908
31,764
1,094,909		 62,073
176,884		 -
865,962		 62,073
1,042,846
1,126,673 238,957 865,962 1,104,919
(37,150)
-		 (11,203)
-		 192
-		 (11,011)
-
(37,150) (11,203) 192 (11,011)
626,884 387,574 250,321 637,895
589,734
**£ **		 376,371
_£ _		 250,513
_£ _		 626,884
_£ _

All income and expenditure are from continuing operations

The annexed notes form part of these financial statements

16

TEACH A MAN TO FISH UK LIMITED (company limited by guarantee, number 5533946)

BALANCE SHEET As at 31 December 2021

Notes
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
Other current assets
CREDITORS: amounts falling due
within one year
11
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted funds
12
Unrestricted funds:
General fund
12		 2021
£
£
79,752
820,174
3,033
902,959
(313,225)
589,734
589,734
£
229,430
360,304
589,734
589,734
£		 £
32,058
691,430
3,332		 2020
£
626,884
726,820
(99,936)
229,430
360,304		 250,513
376,371
626,884
£
626,884
626,884
£

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on 15 July 2022 and were signed on its behalf by:

NICHOLAS KAFKA, Trustee

The annexed notes form part of these financial statements

17

TEACH A MAN TO FISH UK LIMITED

STATEMENT OF CASHFLOWS For the year ended 31 December 2021

£
£
Net cash provided by / (used in) operating activities
Net movement in funds
(37,150)
Investment income: bank interest
(171)
(Increase)/decrease in debtors
(47,403)
Increase/(decrease) in creditors
213,297
128,573
Cash flows from investing activities: bank interest
171
Change in cash and cash equivalents in the year
128,744
Cash and cash equivalents at the beginning of the year
691,430
Cash and cash equivalents at the year end
820,174
2021		 2020 2020
£
(11,011)
(231)
195,253
(42,283)		 £
141,728
231
141,959
549,471
691,430

18

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The effects of events relating to the year ended 31 December 2021 which occurred before the date of approval of the financial statements by the Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 December 2021 and the results for the year ended on that date.

Charity status

Teach A Man To Fish UK Limited is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

The charity is a public benefit entity as defined in FRS102.

Fund accounting

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

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Statutory grants which are given as contributions towards the Charity's core services are treated as unrestricted.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Funds transfer

The amount transferred from unrestricted to restricted funds represents the support from the unrestricted fund towards restricted activities.

19

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Income

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

(i) Donations and legacies are received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants receivable are recognised when the charity becomes unconditionally entitled to the grant. Income from government grants is recognised when received.

(ii) Donated services and facilities (gifts in kind) are included at the value to the charity where this can be quantified.

(iii) The value of services provided by volunteers has not been included as income in these accounts.

(iv) Investment income is included when receivable.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under activity headings that aggregate all relevant costs. Where costs cannot be directly attributed to an activity they have been allocated in proportion to staff costs.

Charitable expenditure are costs incurred that in order to further the Charity's objectives. Costs of generating voluntary income are those incurred in seeking voluntary contributions. Fundraising trading are costs incurred relating to activities for generating funds. Governance costs include the costs of servicing Trustees' meetings, audit and strategic planning.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Overheads have been allocated to activities proportionately to staff costs.

Allocation of expenses

Restricted funds are to be used for specific purposes as laid down by the donor and expenditure which meets these criteria is charged to the fund while unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. However, the cost of the overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of staff time on the project.

Finance and operating leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred.

20

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Pensions

The charity operates a defined contributions pension scheme, which is a Group Stakeholder Pension Scheme. During the year, the charity contributed up to 3% of gross pay for all staff after they have completed their probationary period. From January 2017, the charity auto-enrolled its staff into a qualifying scheme, contributing up to 3% of gross pay for all staff. The contributions made during the year are treated as an expense and were £8,816 (2020 - £10,496).

Debtors and creditors receivable / payable within one year

Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

All expenditure is accounted for on an accruals basis. Creditors are recognised when the Charity has a present legal or constructive obligation resulting from a past event to make a payment to a third party, it is probable that settlement will be required and the amount due to settle the obligation can be measured or estimated reliably.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Judgments and key sources of estimation uncertainty

No material judgements have been made in the process of applying the above accounting policies that have a significant effect on amounts recognised in the financial statements.

21

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

2. GRANTS AND DONATIONS

Individual donations
Grants from institutions, trusts, & foundations
2020
Individual donations
Grants from institutions, trusts, & foundations		 Unrestricted
Funds
2021
£
11,332
41,579		 Restricted
Funds
2021
£
-
969,916		 Total
Funds
2021
£
11,332
1,011,495		 Total
Funds
2020
£
27,578
933,128
52,911
£		 969,916
£		 1,022,827
**£ **		 960,706
£
Unrestricted
Funds
2020
£
27,578
67,291		 Restricted
Funds
2020
£
-
865,837		 Total
Funds
2020
£
27,578
933,128
94,869
£		 865,837
£		 960,706
£

We would like to thank in particular the following institutions, trusts, foundations and partner organisations for their generous support of our work:

The Saville Foundation Evan Cornish Foundation British & Foreign Schools
Society (BFSS)
SocialCapital Foundation Dulverton Trust DubaiCares
Souter Trust Four AcreTrust AlbertWesselsTrust
Vurchoo Jewellery EducationCannotWait Czarnikow
OpportunityInternational LeggattTrust ICM Ltd
PorticusFoundation

Included within grants from institutions, trusts, & foundations grants from the London Borough of Islington amounting to £12,000 (2020 - £20,000).

3. OTHER INCOME

There were no government grants through the Job Retention Scheme in the current year (2020 - £40,783).

22

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

4. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Partner funded technical assistance
Training & conference
Rental income
2020
Partner funded technical assistance
Training & conference
Rental income		 Unrestricted
Funds
2021
£
60,747
-
-		 Restricted
Funds
2021
£
-
-
-		 Total
Funds
2021
£
60,747
-
-		 Total
Funds
2020
£
91,597
435
200
60,747
£		 -
£		 60,747
£		 92,232
£
Unrestricted
Funds
2020
£
91,511
435
200		 Restricted
Funds
2020
£
86
-
-		 Total
Funds
2020
£
91,597
435
200
92,146
£		 86
£		 92,232
£

5. INVESTMENT INCOME

INVESTMENT INCOME
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2021 2021 2021 2020
£ £ £ £
Bank Interest receivable - 171 171 231
£ Nil £ 171 £ 171 £ 231
2020
Unrestricted Restricted Total
Funds Funds Funds
2020 2020 2020
£ £ £
Bank Interest receivable - 231 231
£ Nil £ 231 £ 231

23

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

6. EXPENDITURE

Charitable activities
- Global initiatives
- Country and regional
programmes
Raising funds
Support and governance
Total expenditure
2020
Charitable activities
- Global initiatives
- Country and regional
programmes
Raising funds
Support and governance
Total expenditure		 UK Staff
costs
£
185,393
150,784
Activities
undertaken
directly
£
43,641
658,960

Support and
governance
costs
£
25,413
30,718

Total
2021
£
254,447
840,462

Total
2020
£
217,655
825,191
336,177
29,484
-		 702,601
2,016
56,395		 56,131
264
(56,395)		 1,094,909
31,764
-		 1,042,846
62,073
-
365,661
**£ **		 761,012
£		 Nil
£		 1,126,673
**£ **		 1,104,919
_£ _
UK Staff
costs
149,566
124,724		 Activities
undertaken
directly
54,693
664,803		 Support and
governance
costs
13,396
35,664		 Total
2020
217,655
825,191
274,290
61,261
-		 719,496
42
49,830		 49,060
770
(49,830)		 1,042,846
62,073
-
335,551
_£ _		 769,368
£		 Nil
£		 1,104,919
_£ _

Out of total expenditure of £1,126,673 (2020 - £1,104,919 ) , £1,006,916 (2020 - £865,962) was from restricted funds. In addition, expenditure also includes exchange losses amounting to £18,707 (2020 -£1,090).

24

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

7. SUPPORT AND GOVERNANCE COSTS

Support costs have been allocated across activities on the basis of staff time.

Rent and rates
Other head office costs
Audit fees
STAFF NUMBERS AND COSTS
Wages and salaries
Social security costs
Pension costs
Overseas staff costs		 Total
2021
£
20,388
30,482
5,525		 Total
2020
£
19,882
25,448
4,500
56,395
**£ **		 49,830
_£ _
2021
£
328,681
28,164
8,816		 2020
£
299,566
25,490
10,496
365,661
329,445		 335,552
304,657
695,106
**£ **		 640,209
_£ _

8. STAFF NUMBERS AND COSTS

The average monthly head count of UK staff was 14 (2020 - 10). The average monthly full time equivalent of UK staff was 12.7 (2020 - 9.6).

The average monthly head count of overseas staff was 31 (2020 - 25). The average monthly full time equivalent of overseas staff was 31 (2020 - 22).

No employee received remuneration of more than £60,000 (2020 - the same).

The total employee benefits of the key management personnel were £57,806 (2020 - £55,944).

9. RELATED PARTIES TRANSACTIONS

During the year, no trustees received any remuneration, except for one trustee in capacity as a key management personnel as shown above.

The trustees were not paid for their services as Trustees (2020 - the same). No Trustees received payments in reimbursement for out of pocket expenses (2020 - the same).

25

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

10. DEBTORS: DUE WITHIN ONE YEAR

**11. ** Trade debtors
Grants receivable
Prepayments
Other debtors
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Deferred grant income
Social security and other taxes
Payroll taxes due in country offices
Other creditors due in country offices
Pension control
Accrued prize money
Other creditors and accruals
Deferred income
Balance at 1 January 2021
Amount released to incoming resources
Amount deferred in the year
Balance at 31 December 2021		 2021
£
9,356
65,590
1,050
3,756		 2020
£
4,067
20,898
2,965
4,128
79,752
**£ **		 32,058
_£ _
2021
£
232,707
8,621
6,843
25,291
1,203
25,977
12,583		 2020
£
31,854
7,727
5,886
21,515
1,178
25,821
5,955
313,225
**£ **		 99,936
_£ _
31,854
(31,854)
232,707		 63,120
(63,120)
31,854
232,707
**£ **		 31,854
_£ _

Deferred income stated above relates to income received from donors which is subject to restrictions which prevent their use until a later date.

26

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

12. STATEMENT OF FUNDS

(Year ended 31 December 2021)

RESTRICTED FUNDS
Regional		 Brought
Forward
£		 Income
£		 Expenditure
£		 Fund
Transfer
£		 Carried
Forward
£
Rwandan School Enterprise
Challenge		 - 3,361 (17,289) 13,928 -
Entrepreneurial &
Environmental Empowerment
for South Africa's Youth
(EEESAY)		 30,306 - - - 30,306
South Africa School Enterprise
Challenge
6,136		 97,270 (71,346) - 32,060
Nicaragua School Enterprise
Challenge		 83,802 39,766 (107,290) - 16,278
Latin America School
Enterprise Challenge		 12,866 23,980 (47,328) 10,482 -
Uganda School Enterprise
Challenge		 - 75,901 (93,354) 17,453 -
Uganda Education Cannot
Wait		 - 177,397 (188,380) 10,983 -
Uganda Youth Enterprise
Challenge		 24,577 252,565 (209,799) - 67,343
UgandaEnterpriseAdventure - - (216) 216 -
Uganda SEC Social Enterprise
Fund (UGFEE)
-		 258 (3,420) 3,162 -
Global
School Enterprise Challenge -
Global		 52,075 301,190 (227,959) (41,863) 83,443
Enterprise Adventure - Global 40,751 - (40,535) (216) -
SUMMARY OF FUNDS
General Funds
Restricted Funds
250,513
**£ **		 971,688
**£ **		 (1,006,916)
£		 14,145
**£ **		 229,430
**£ **
376,371
250,513		 117,835
971,688		 (119,757)
(1,006,916)		 (14,145)
14,145		 360,304
229,430
626,884
**£ **		 1,089,523
£		 (1,126,673)
£		 -
£		 589,734
**£ **

Transfers of funds

The project SEC Global subsidises SEC in country programmes where funding for the year has not been sufficient to cover the SEC costs in those countries. £41,863 has been transferred in the current year from SEC Global to fund SEC activities in country offices.

27

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Statement of funds - continued…
(Year ended 31 December 2020)
Regional
Rwandan School Enterprise
Challenge		 16,165 17,620 (47,503) 13,718 -
Entrepreneurial &
Environmental Empowerment
for South Africa's Youth
(EEESAY)		 32,788 - (2,482) - 30,306
Nicaragua School Enterprise
Challenge		 48,349 148,703 (113,250) - 83,802
Uganda School Enterprise
Challenge		 - 146,812 (158,461) 11,649 -
Latin America School
Enterprise Challenge		 - 32,902 (20,036) - 12,866
South Africa School Enterprise
Challenge
6,489		 69,631 (69,984) - 6,136
Uganda Education Cannot
Wait		 - 129,926 (134,187) 4,261 -
Uganda Youth Enterprise
Challenge		 - 125,174 (100,597) - 24,577
Uganda Entreprise Adventure - 3,800 (4,630) 830 -
Rwanda Business Clubs - 42,754 (42,754) - -
Global
School Enterprise Challenge -
Global		 104,933 108,081 (130,481) (30,458) 52,075
Entreprise Adventure - Global - 40,751 - - 40,751
Pan-African Awards 41,597 - (41,597) - -
Summary of funds 2020
General funds
Restricted funds
250,321
_£ _		 866,154
_£ _		 (865,962)
£		 Nil
£		 250,513
_£ _
387,574
250,321		 227,754
866,154		 (238,957)
(865,962)		 -
-		 376,371
250,513
637,895
_£ _		 1,093,908
£		 (1,104,919)
£		 Nil
£		 626,884
_£ _

28

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Descriptions of funds

The Rwanda School Enterprise Challenge fund is to support primary and secondary schools in Rwanda to set up school businesses for education and income generation and refine a sustainable model for providing such support.

The Entrepreneurial and Environmental Empowerment for South African Youth (EEESAY) Fund represents funds unspent from a three year EU funded project to empower over 6,000 young people to gain the knowledge, skills, experience and attitudes for future success. The funds continue to be held on trust pending a determination of the amount due for return to the EU.

The South Africa School Enterprise Challenge fund is to support schools across Kwa Zulu Natal Province of South Africa with training and incentives to participate in the international School Enterprise Challenge program.

Nicaragua School Enterprise Challenge fund is to support primary & secondary schools across Nicaragua to set up school businesses for education and income generation.

The Latin America School Enterprise Challenge fund is to support primary & secondary schools across Nicaragua, Honduras & Guatemala to set up school businesses for education and income generation.

The Uganda School Enterprise Challenge fund is to support primary and secondary schools in Uganda to set up school businesses for education and income generation and refine a sustainable model for providing such support.

Uganda Education Cannot Wait (UGECW) fund is to support primary schools in Uganda's refugee settlements to set up school businesses for education and income generation.

Uganda Youth Enterprise Challenge Fund (UGYEC) is to support youth groups to set up businesses for education and income generation.

Uganda Enterprise Adventure fund is to support children in Uganda to learn about business and develop essential life skills from home using workbooks during school closures due to the Covid19 pandemic.

Uganda SEC Social Enterprise Fund is an innovation fund to pilot the provision of our School Enterprise Challenge model in Uganda with user fees covering a proportion of programme costs.

The School Enterprise Challenge Global fund is to support the costs of running the School Enterprise Challenge and to cover the costs of the associated prizes.

Enterprise Adventure - Global: this fund is to support individual youth to plan and set up social enterprises for education and income generation.

29

TEACH A MAN TO FISH UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Net current assets
2020
Net current assets		 Unrestricted Funds
Designated
General
Funds
Funds
£
£
-
360,304		 Unrestricted Funds
Designated
General
Funds
Funds
£
£
-
360,304		 Restricted
Funds
£
229,430		 Total
Funds
£
589,734
-
£		 360,304
**£ **		 229,430
**£ **		 589,734
**£ **
- 376,371 250,513 626,884
-
£		 376,371
_£ _		 250,513
_£ _		 626,884
_£ _

14. LEASE COMMITMENT

not later than one year
later than one year and not later than five years
more than five years
The cost of operating lease during the year was as follows:
Office lease charges for the year
The total of future minimum lease payments under non-cancellable operating
each of the following periods:		 2021
2020
£
£
20,000
20,000
60,000
60,000
23,333
43,333
leases for office premises for		 2021
2020
£
£
20,000
20,000
60,000
60,000
23,333
43,333
leases for office premises for
103,333
**£ **		 123,333
_£ _
20,000
**£ **		 20,000
_£ _

The lease commitments relate to a 10-year operating lease for office premises starting January 2018.

15. OTHER COMPANY INFORMATION

Teach A Man To Fish UK Limited is a charitable company limited by guarantee, registered in England with registration number 5533946. Its registered office address is Unit F5, 89093 Fonthill Road, London, N4 3JH. The accounts are presented in GBP rounded to £1.

30