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Annual Report & Financial Statements Year Ended 31 December 2023
Increasing opportunities for young people to learn skills that prepare them to succeed in work and life in the 21[st] century
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|---|---|
|CONTENTS|
|Legal & Administrative Details of the Charity|3|
|Report of The Trustees|4|
|About Teach A Man To Fish|8|
|Achievements and Performance in 2023|9|
|Future Plans|22|
|Financial Review|23|
|Auditors Report & Statement of Financial|25|
|Activities|
|Balance Sheet|31|
|Statement of Cash Flows|32|
|Notes|33|
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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
For the year ended 31 December 2023
Trustees
N Kafka
J Stephenson (Chair, resigned 08.11.2023 ) P Ellingstad (appointed 25.01.2023, appointed Chair 08.11.2023) H Johnson (treasurer)
S McMillan J McMahon G Walker (resigned 19.07.2023)
N Costanzo M. Pau Mehta (appointed 03.05.2023)
Executive Director
N Kafka
Chair
J Stephenson (resigned 08.11.2023) P Ellingstad (appointed 08.11.2023)
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 Ltd Chartered Accountants and Statutory Auditors 2nd Floor, Grove House 774-780 Wilmslow Road, Didsbury 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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Annual Report and Financial Statements 2023
REPORT OF THE TRUSTEES
For the year ended 31 December 2023
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 2023. 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 Constitution Trustee selection Memorandum & Company limited by Trustees may be appointed by Articles of Association guarantee 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.
New trustees are invited and encouraged to attend a series of short training sessions (of no more than an hour) 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 obligations of Trustees
The main documents which set out the operational framework for the charity including the Memorandum and Articles of Association
Resourcing and the current financial position as set out in the latest published accounts
Future plans and objectives
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.
Annual Report and Financial Statements 2023
4
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.
OBJECTIVES & ACTIVITIES
Teach A Man To Fish’s objectives as defined in its Memorandum and Articles of Association, revised on the 3rd May 2018 and 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;
To promote other charitable purposes in connection with the above.
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Annual Report and Financial Statements 2023
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 education, work, and life.
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Annual Report and Financial Statements 2023
INCREASING OPPORTUNITIES FOR YOUNG PEOPLE
Teach A Man To Fish: increasing opportunities for young people to learn skills that prepare them to succeed in work and life in the 21st century
Teach A Man To Fish represents a bold vision for education. We transform the skills and lives of children and young people through practical entrepreneurship education. Our Model - where participant-led businesses function as Real World Learning Labs - has emerged through a dynamic co-creation and development process with educational institutions, educators and learners over several years. It is deeply rooted in a robust evidence base. The effectiveness of Project-Based Learning and Social Emotional Learning in developing essential life skills in young people is welldocumented.
We work directly with educators and young people around the world to set up participant-led businesses which are both educational and profitable.
We equip educators with the knowledge, skills, resources and guidance to help young people develop essential life skills such as communication, problem-solving, teamwork and leadership through a step-by-step process of setting up and running their own business.
Over the last 17 years we have reached more than 500,000 young people assisting them to develop essential life skills that unleash opportunities and enable them to reach their full potential in school, work and life.
Ultimately, we provide young people with the tools to adapt to an ever-changing world and give them the confidence to seize opportunities around them.
7
ABOUT TEACH A MAN TO FISH
Getting young people into decently paid work is not just essential for their future, but for the future of their communities, countries and our global society.
The problem we seek to address
Some 73 million young people worldwide are unemployed. Many many more are under-employed or hold jobs in the informal economy with little job security and rely on low wages to survive. As a result, hundreds of millions of young people continue to live in poverty (ILO 2020).
The world is undergoing major transformation and employment opportunities are changing all the time. Reports indicate that over half of the children entering school now will work in jobs that don’t exist today making skills such as creative and critical thinking, communication, taking initiative, collaboration and adaptability essential for success (World Economic Forum, New Vision for Education: Fostering Social Emotional Learning through Technology, March 2016). Compelling evidence of climate change also demands that young people take positive action to combat environmental degradation.
not providing young people with opportunities to develop the essential skills they need to thrive in the 21st century. Many teachers don’t have the pedagogical skills or programmes and tools to give their learners a different kind of education.
Regardless of the skills gap, the number of available jobs is insufficient to absorb the number of young people looking for a job, in particular in low and lower middle-income countries (World Economic Forum, Future of Jobs Report, 2023). It is vital for their future that young people understand the potential to create jobs for themselves as entrepreneurs, and have the skills and confidence to pursue successful entrepreneurship.
These shifts have profound implications for how we prepare young people for life and work but numerous studies show a significant mismatch between the skills many young people can offer and the skills that employers want. While the world has made good progress with increasing access to education, academic education is
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Our solution
We call these essential
life skills because with
these competencies,
by delivering skills such as
transformative young people
creativity,
can discover and
Teach A Man To entrepreneurship
taking initiative,
Fish addresses education create their own
collaboration
the skills gap in programmes that opportunities and
and problem-
young people rigorously guide solving and improve their
young people in own economic
entrepreneurial
developing highly mindsets. situations,
transferable skills
creating their own job
where none is available.
----- End of picture text -----
Our programmes prepare young people for the opportunities, responsibilities and experiences of work and life. We focus on providing transformational opportunities to young people from disadvantaged backgrounds and prioritise the equal inclusion of girls and young women, boys and young men in our programmes, assisting them all to become active agents in their future.
Annual Report and Financial Statements 2023
8
ACHIEVEMENTS AND PERFORMANCE IN 2023
BUILDING ON SUCCESS
Making an even greater difference to the lives of more young people around the world
In 2023, we demonstrated the energy, presence and recognition that makes our contribution to education and to the future of young people all over the world so compelling. We found new opportunities and ways to boost the impact of our work. We were rewarded with
an impressive surge in interest and commitment from learners, teachers and government education bodies, enabling us to deliver transformative educational opportunities for more learners and more teachers in more schools around the world.
HIGHLIGHTS FROM 2023
We transformed the skills and life chances of 73,421 young people in more than 100 countries throughout the world. 54% of these were girls.
This is more than double the number of young people who benefitted from our work in 2022.
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Annual Report and Financial Statements 2023
7,697 teachers built their skills in student-centred teaching approaches improving education quality for ALL their students
Our programmes reached into 14,692 schools
2,503 real businesses were launched by enthusiastic young people
7,832 kilograms of trash was repurposed into saleable products
$358,784 of total income was generated by our entrepreneurs and their business sales
975,315 additional people benefitted indirectly from teachers and young people sharing their knowledge and skills
Annual Report and Financial Statements 2023 10
PARTICIPANTS HAVE STRONGER SKILLS
Consistently, over time, participants show substantial improvements in all essential life skills by comparison with their non-participating peers. Again in 2023, more participants improved their skills to an advanced level faster over the school year in relation to a comparison group. For example:
In Uganda 2023 In Honduras 2023 3x more participants 12x more participants 93% of participants 96% of participants reached advanced reached advanced developed advanced developed advanced problem-solving skills communication skills level leadership skills level problem-solving skills 7x more participants 22x more participants 98% of participants Participants developed reached advanced reached advanced developed advanced these skills nearly 2x leadership skills teamwork skills level teamwork skills faster than their peers
In the long term, these essential life skills enable young people to discover and create opportunities for themselves and others. For example:
JOSHUA OKOT
Joshua Okot is 24 and is already making a name for himself in northern Uganda. Joshua joined the School Enterprise Challenge in his last year at Lira Town College, a pioneering government secondary school in northern Uganda. Even in 2016 it had a computer lab and Joshua was already passionate about digital technologies.
Joshua was really excited when he came across the School Enterprise Challenge, because although entrepreneurship training was available in the College it was only available to business studies students and Joshua was a Science student. He was able to join and take part in the School Enterprise Challenge becoming team leader of the team that started by setting up a business making and selling liquid soap.
School Enterprise Challenge arrived at the right time for me. I thought I would get a good job as a computer programme manager when I left school but it’s much cooler to be running your own business.
Joshua’s passion for digital technologies then led the team to plan a mobile app, called Ante Care, providing information for pregnant mothers on how to prepare for and bring up healthy babies. Even after leaving College he continued developing the App.
During Covid, Joshua put aside his work on the AnteCare app and built a new business: an online shop where customers in northern Uganda can view and purchase from a range of items which are delivered directly to their door. It took 4 months to get his first order - a toothbrush which he delivered himself. Gradually the shop and his customer base has grown and KakebeShop is now available as an App on Playstore.
Then, with three friends he set up Kakebe Technologies which offers IT services to businesses and organisations. The company also runs robotics courses in schools, IT training programs and a number of events and workshops for young people to learn about “Tech”. The friends have not stopped there, their newest venture is a music-streaming service for Uganda called Mwonya Stream. They already have a great range of musicians, DJs, Uganda and European radio stations on offer.
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Annual Report and Financial Statements 2023
With all their businesses, the three friends are now employing 20 full-time staff, all under 30. They are offering exciting new opportunities to young people in northern Uganda. Joshua says he absolutely loves business and wants to create a legacy.
My ambition is for Kakebe to be the biggest tech company in Africa.
Annual Report and Financial Statements 2023
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IN 2023 WE ADVANCED SIGNIFICANTLY TOWARDS OUR GOAL OF:
Greater Impact for all Participants
Greater Scale to Reach More Young People Greater Sustainability of our work
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Annual Report and Financial Statements 2023
GREATER IMPACT
In 2023, the Enterprise Adventure and Trash to Cash Challenge became firmly established and recognised as part of our core programme offering, complementing our flagship School Enterprise Challenge. We also started exploring how we can broaden the impact of our education model. In South Africa we launched a pilot for children in Early Learning Centres (picture). We also launched a pilot in the UK, helping Year 6 children to build their skills and move confidently onto secondary school. In 2024 we will build on these positive beginnings in South Africa and the UK extending our pilots.
Through our programmes, young people anywhere in the world, with access to the internet, can embark on and navigate their own entrepreneurial journey without the need to rely on their teacher, school or even their peers.
Freedom to Learn
Young people enjoy and thrive in the creative ways we have found to help them learn through new projects they can complete in their own time e.g. in the Enterprise Adventure and Trash to Cash Challenge.
An active community
We know that our participants value the opportunity to be part of international programmes and in 2023 we created more opportunities for participants to get to know each other and exchange learning. We built a community section on our online platform, encouraging teacher discussion and peer to peer support.
We took the first steps in creating Alumni Networks for young people at school, national and global levels. Our long-term aim is to provide lifelong learning and networking opportunities for all alumni, deepening the value of participating in our programmes, and building a vibrant community that can contribute to sustaining the programme in schools.
Smarter Tech
We use technology to reach teachers and learners around the world, and to make their experience rich and fulfilling. In 2023 we adapted the solutions we have developed for our programmes to improve operations. Our App enabled 6003 Honduran teachers to register and access all programme resources from their mobile. We also developed an App for Field Officers to record and share participants’ progress. This enables us to better track and support participants and staff.
We prepared Enterprise Adventure and School Enterprise Challenge for transfer onto a smarter, mobileresponsive platform in 2024. Our ElevatED platform will provide a single entry point to all our programmes, reflecting the range of exciting educational journeys we offer and better meet the needs of our global audience. It will also unlock a suite of income generating opportunities through paid courses and tailored products for partners.
Annual Report and Financial Statements 2023
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GREATER SCALE: REACHING MORE YOUNG PEOPLE
Scalability
We launched our Models for national scaling of our School Enterprise Challenge in collaboration with governments in Honduras and South Africa.
In Honduras, we built the systems and processes to harness the national teacher network; engaging a staggering 27,000 young people in 1,052 schools in the School Enterprise Challenge. This is DOUBLE the number of students we reached in the previous six years.
We are enormously proud that 27,000 young Hondurans started building their skills through planning and/or launching a real business as part of our School Enterprise Challenge 2023. We achieved this phenomenal increase in scale by using many of the digital approaches for teacher training and support that we had piloted during Covid and by working closely with the Ministry of Education so that teachers and school teams everywhere received face-to-face guidance and ongoing support from their network of senior teaching staff whom we trained.
2023 was the first year of our collaboration with the Department of Basic Education (DBE)-Ecubed (E3) to introduce our School Enterprise Challenge programme into 22 of their “model” schools in Kwa Zulu-Natal (KZN) and Gauteng provinces. DBE-E[3] is developing the national strategy to introduce entrepreneurship education into all government schools, and our partnership is designed to bring theoretical learning to real-life for learners.
Multiple Strategic Partnerships
Every year we see the truth in the saying “if you want to go far, go together”. Drawing on our learning from working with current partners and best practice from other organisations we strengthened partner onboarding, management and stewardship and promoted shared learning in partner workshops.
We strengthened our robust partnerships with:
Fundación Paraguay in Paraguay; The Bharti Foundation in India; Conalep in Mexico ; and Asante Africa in Uganda.
Our new partnership with Sociopreneur is preparing the School Enterprise Challenge for schools in Indonesia with the support of the Department of Education. All resources will be translated by the partner into Bahasa. Learning from this process will strengthen our efforts to reach new countries and new languages.
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Annual Report and Financial Statements 2023
GREATER SUSTAINABILITY
We have always offered our expertise on contract to other organisations and continued to do so in 2023 with Resolute Mining in Senegal, PROBONO School Partnerships for One World in Tanzania and Uganda, Fyffes and GIZ in Honduras among others. Our
experiments with additional paid-for services in the Enterprise Adventure have led us, with the support of the Social Capital Foundation into the Miller Center Accelerator Program in which we are developing a viable business model in 2024.
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Annual Report and Financial Statements 2023
SOME HIGHLIGHTS OF THE PAST YEAR
Spotlight on the School Enterprise Challenge
The School Enterprise Challenge is an educational programme that is available to any school around the world through our online portal and for low-resource schools in 12 countries through our field offices and partners. This structured programme, which is designed to be delivered in any school setting, leads learners through an entrepreneurial journey rooted in the real world, facilitated by teachers that we train.
| Learners take | creating their | learning about | deciding the | their costs, |
|---|---|---|---|---|
| ownership of their | own business | opportunities | processes and | expected |
| School-business | plan step by | in their | teams they will | income and how |
| from the start of | step; | community; | use in their | to raise start-up |
| the programme; | business; | capital. |
They launch their business working together to implement their plan; taking responsibility for production, marketing, sales, financial record-keeping and finding their own solutions to challenges that arise.
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These are skills that are
consistently identified
as critical to meet the
diverse demands in
the labour market in
this rapidly-changing
world as employees and
entrepreneurs (OECD,
Future of Education and
Skills 2030 project).
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Make informed decisions
Solve problems and iterate
Think critically and creatively
Communicate effectively
Take responsibility, and
Build collaborative relationships
participants learn to:
Through the programme
----- End of picture text -----
School-businesses not only better prepare young people for the future, but also generate extra income for their schools enabling schools to strengthen their education provision.
Throughout 2023, we continued to strengthen the School Enterprise Challenge to ensure teachers and young people thrive in the programme. Our refinements are based on participants’ feedback as well as our analysis of sticking points, barriers and opportunities.
We enlarged the curriculum of the School Enterprise Challenge, testing a new Savings module in our Uganda programme with learners in 40 schools. This module increases participants’ financial literacy and recordkeeping skills and also provides a practical tool for school teams to raise start-up capital for their Schoolbusiness. This is important, especially for learners in disadvantaged communities, because many school teams find it challenging to raise the initial capital to launch their business. We encourage them to start small in their first year and plan to save; generating capital to invest in developing their business in year two. The
module will be available widely in 2024.
Teacher guidance and motivation are vital for learners to thrive in our programme. In 2023, we bolstered our support for teachers, enhancing their pedagogical knowledge, their experience in the programme through a vibrant community of peers and their recognition. Introducing the “Teacher Record of Achievement” was just one way we celebrated their contributions.
An external review of the digital programme identified difficulties that teachers can encounter. We responded with different levels of assistance to meet their varied levels of digital literacy. We also rose to teachers’ challenges for professional development opportunities: providing intensive support for teachers to understand and use learner-centred experiential learning approaches. With some 7,697 teachers participating in the School Enterprise Challenge in 2023, their increased pedagogical skills could immediately improve learning for over 637,000 additional learners assuming 40 additional learners per classroom per teacher.
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Annual Report and Financial Statements 2023
EMPOWERING YOUNG PEOPLE TO REALISE THEIR POTENTIAL
Christian’s story is a strong example of how the programme empowers young people to realise their potential. Christian’s life looks very positive now but just a few years ago that was not the situation. He was forced to drop out of school and take on a job as a day labourer in La Paz to help bring in enough money to meet the family’s basic needs as the money his mother earned from washing clothes was simply not enough. But, he wanted a better life for himself and his family so he continued his High School studies at weekends. It was while studying at weekends at Centro Manos Amigas para Bendecir in La Paz, that Christian joined
the School Enterprise Challenge, learning how to plan and run a profitable business. The school team produced and sold Hojuelas, a popular Honduran dessert and Christian was elected as Marketing Manager.
Christian then persuaded his mother to start a business together and he set about teaching his mother everything he had learnt in the School Enterprise Challenge. He explained how to conduct a market study and why that is useful, why maintaining consistent quality is important, how to understand and record costs and calculate a price for their products.
With the knowledge I acquired in the School Enterprise Challenge, I decided to start a small business with my mother selling Horchata (a popular soft drink). We invested Lempira 400 (US$16) and in the first five hours of selling we made Lempira 2,800 (US$111) in profit. That is seven times our investment.
In one day, their Horchata business generated the same income that his mother normally made in two weeks. Their family income doubled.
Towards the end of 2023 they secured a contract with a local school to supply the school cafeteria with Horchata. This regular income means that Christian can continue his studies. He has graduated from High School and enrolled to study as a University student on weekends.
The business Christian set up with his mother after his experience in the School Enterprise Challenge has transformed their lives - the family’s income has rocketed along with their hopes and dreams for their future.
Annual Report and Financial Statements 2023
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SPOTLIGHT ON ENTERPRISE ADVENTURE
In 2023, Teach A Man To Fish took Enterprise Adventure to the next level, guiding young people beyond business theory and planning into an exhilarating adventure to turn their entrepreneurial ideas and plans into reality and launch their own business in the real world.
We responded to young people’s feedback, carefully crafting a comprehensive gamified curriculum in an online learning format available through the Enterprise Adventure website, using an off-the-shelf Learning Management System.
Over the course of the year, we cultivated a diverse array
of new resources (quizzes, motivational stories, games) and educational materials such as Masterclasses with industry experts on a range of subjects (graphic design, finance for beginners, web marketing) to complement the core curriculum and a vibrant community to propel the programme forward.
These new resources, educational materials and an active community have proven to be key to our programme’s appeal, ensuring that participants had more avenues to learn about and practice entrepreneurship across different formats and they allowed our most avid participants to deepen their learning.
The Result: over 2,900 young people were drawn to the Enterprise Adventure, with 827 of them diving deep into the programme, reaching meaningful milestones, and igniting their entrepreneurial spirits to launch 157 businesses.
This remarkable progress in just two years earned the programme a coveted spot in the HundrED.org global collection, earning international recognition for its innovative approach in education.
We are proud that “Adventurers” have embraced the spirit of social enterprise and innovation.
They are analysing the needs and opportunities they see in their community and responding to these with the businesses they launch.
Adventurers planned and launched a myriad of businesses from organic compost in eco-friendly packaging, to IT tutoring programmes for girls and the elderly, to a service connecting people with substance abuse issues to the right medical advice, to a food delivery service where people can buy cheap meals “leftover” in restaurants from customer orders and have these delivered to their door.
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Annual Report and Financial Statements 2023
PREPARING YOUNG PEOPLE TO THRIVE
Ishant’s story is a strong example of how Enterprise Adventure prepares young people to thrive. Ishant is a Grade 8 student in India who planned and launched his own technology business, “Unseen Innovations”. His business offered online courses to help fellow students understand and deepen their knowledge of digital technologies. In his video, Launching my technology business!
Ishant explained that the Enterprise Adventure made him more ambitious to succeed and gave him skills that will help him do that.
I learnt that aiming high is important whether it is for the future or for the present. I want to go into the technology field and do something big there, some invention.
GIVING YOUNG PEOPLE A PLATFORM FOR CLIMATE ACTION
Nada and Aya’s story is a strong example of how Trash to Cash Challenge gives young people a platform for climate action. Nada and Aya from Dakahlia STEM High School in Egypt used their science knowledge to transform waste animal bones into saleable products, inspiring the judges and winning the Teen Eco Innovators Award.
Nada and Aya contacted local restaurants, butchers, waste management companies and local authorities to organise an impressive process for collection, transportation and storage of the bones. They transformed the bones into three different products - a heterogeneous catalyst (used for biodiesel production), a bio-fertiliser, and a skin moisturiser, generating a small income of US$49. They will use their prize to grow their business. They will use their prize to grow their business.
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Annual Report and Financial Statements 2023
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SPOTLIGHT ON TRASH TO CASH CHALLENGE
In 2023, the international community geared up for COP28 the first ‘global stocktake’ of efforts to address climate change. Out of this arose general agreement that progress is too slow across all areas of climate action - from reducing greenhouse gas emissions, to strengthening resilience to a changing climate, to getting financial and technological support to vulnerable countries.
Positive action for People and the Planet has always been a centrepiece of our programmes and many participants harness their passion for environmental protection in their businesses. In 2023 we continued
to encourage and inspire young people to take on this enormous challenge and take rapid action to combat environmental degradation.
Our Trash To Cash Challenge focuses on activating young people to create viable businesses from materials normally thought of as waste. They have two weeks to sell their product and make as much cash as possible with prizes awarded to the most inspiring Ecopreneurs in different age categories. To activate other young people we harnessed the power of peer-to-peer marketing through Youth Ambassadors like lillys_plastic_pickup. Lily has over 6,600 instagram followers.
In 2023, we saw many innovative initiatives emerge from Ecopreneurs from 32 countries. Together they collected 7,832 kilograms of trash - that is 4x more than Ecopreneurs collected in 2022 and they made a collective profit of US$9,117.
88% of participants said that they were more aware of environmental issues in their community
88% of participants said that they were more motivated now to tackle environmental issues
Their resourcefulness was demon-strated in their collection of rubbish and their creativity in how they repurposed their trash. We saw huge diversity from rubbish bins made from recycled plastic bottles to bio-fertiliser, to a road surfacing treatment made from recycled tyres and stylish handbags made from plastic waste and discarded nylon tights.
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Annual Report and Financial Statements 2023
FUTURE PLANS
Strategy 2021-2025
Over the last 18 years we have developed a Model that is effective in creating real impact for young people. In the short-term, we have seen them learn valuable skills and develop an entrepreneurial mindset. In the longterm, they earn more[1] , achieve better jobs and create new jobs. We’ve shown that our Model can be delivered at significant scale and in even the most marginalised communities.
In a world where poverty persists, youth unemployment grows and social safety nets are weak, we are challenging ourselves to deliver even more. To be significant against the scale of need that exists. To be ever more sustainable financially and programmatically. To develop new approaches for reaching young people and withstanding future system shocks.
With these ends in sight, the current 5-year strategy 2021-25 focuses on:
| Greater Impact |
More ways to reach and beneft more young people |
|---|---|
| Building Community Greater |
More support for alumni, more engagement for all More social enterprise, more locally- |
| Sustainability | driven funding |
| Proven Scalability Smarter Tech |
More government adoption, more self- scaling approaches More mobile-enabled programmes, management & assessment |
towards:
Greater Impact
Proven Scalability
-
We further extended our target audience so more young people can benefit with pilot programmes for pre-primary learners in South Africa, for young learners in the UK, and our global Trash To Cash Challenge competition.
-
The Trash to Cash Challenge encourages any young person under 25 years, to take action against environmental degradation, assisting them develop key life and business skills and also builds their awareness of the fun and benefits of our other, more intensive, programmes.
Building Community
-
Made the first steps towards a School Enterprise Challenge alumni network to nurture lifelong learning
-
Launched new ways to engage the School Enterprise Challenge teacher and student communities building their motivation and commitment to the programme
-
Engaged more with Headteachers and Parent Teacher Associations to build their support for school teams
Greater Sustainability
-
Trialled income-generation through the Enterprise Adventure
-
We launched government partnerships in Honduras and South Africa and developed a model for scaling up in partnership with the government in Honduras.
-
Strengthened robust partnerships with education organisations in countries where schools are ready for the School-Business Model e.g. Fundación Paraguaya in Paraguay, Conalep in Mexico, Bharti Foundation in India.
Smarter Tech
We harnessed technology-based solutions to:
-
Improve participants’ experience in the School Enterprise Challenge online programme and our ability to manage the programme and support participants. In 2023 we refined many aspects of the School Enterprise Challenge platform based on learning around challenges we experienced and participants’ feedback.
-
Increase learning in the Enterprise Adventure and build a strong community for Adventurers
-
Strengthen our systems for collecting data on the impact of participation for young people in our projects and track their progress over time with the aim to provide stronger support and create deeper impact for all young people who join our programmes
-
Used our expertise to deliver services on a consultancy basis
1Uganda follow-up study found two thirds of programme alumni earned >33%. 26% greater av. earnings of prog alumni
Annual Report and Financial Statements 2023
22
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 £259,000 to £298,000. This is equivalent to approximately 4 months of total budgeted expenditure. As at 31 December
2023 our general reserves stood at £321,136 (2022 £360,304). Our organisational budget for the current year includes additional expenditure on high impact initiatives in order to move our reserves closer towards our target range. Restricted funds were £151,797 (2022 £229,430) 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.
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 record-keeping system in place 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 all the 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, meaning that despite the impact of global affairs and a weak economic outlook in the UK we experienced a manageable fall in our income to £759,501 in the 12 months to 31 December 2023 (which compares to £928,163 in 2022). Restricted income included in the financial statements for 2023 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 further development of a progressive web-app for teenagers internationally to acquire entrepreneurial and critical life skills.
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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. 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:
| selected suitable accounting policies and applied them consistently; |
observe the methods and principles in the Charities SORP; |
made judgements and estimates that are reasonable and prudent; |
stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fnancial statements; and |
prepared the fnancial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation). |
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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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there is no relevant audit information of which the charity’s auditors are unaware;
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we have taken all the steps that we ought to have taken as trustees in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
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 Ltd, 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 Thursday 19th September 2024 and signed on its behalf by:
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Nicholas Kafka Trustee Teach A Man To Fish UK Limited
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AUDITORS REPORT AND THE STATEMENT OF FINANCIAL ACTIVITIES
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All income and expenditure are from continuing operations The annexed notes form part of these financial statements
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THANK YOU
To every partner, donor, supporter and participants who joined us in 2023!
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TEACH A MAN TO FISH UK LIMITED Company limited by guarantee no. 5533946, registered charity no. 1112699
+44 207 263 2306 info@teachamantofish.org.uk www.teachamantofish.org.uk