LORNA YOUNG FOUNDATION . LOUDER THAN WORDS The Lorna Young Foundation Accounts 2023-24 FARMERS VOICE RADIO The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006. pr¢sent their report with the financial statements of the cliarity for the year ended 30 Jime 2024. The f inancial statements have been prepared in accordance with the Statement of Recommended Practice ISORP) 'A¢counting and Reporting by Charities, issued in March 2015, applicable in law and the Charkty's goveriiing documents. Charity No: 1112895 Company No: 4788426 LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CONTENTS Page Report of the Trustees Independent Examiner's Report 16 Statement of Financial Aclivilies 18 Balance Sheet 23 Notes forming part of the financial statements LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Chair's Foreword This has been another challengin& but rewarding, year for the L,YF. Our flagship international programme, Farmers, Voice Radio continues to deliver truly transforniational results within smallholder fanning communities, and ihe continued success of OUT Academy programme, demonstrates how a more Jight-touch, online support programme can deliver amazing outcomes for communities. Our Not Just Us programme has continued its transition to a user-led, open access resource and the team have created a unique and ground-breaking Toolkit of practical resources, guides and signposting, freely available to community groups to support them in selting up and running successful community enterprises. As witli most small charities, we face the pe￿¢tUal challenge of rdising sufficient funds to maintain our work. We make every effort to minimise overheads and ensure that our resources are focussed on delivering impact in communities in the UK and internationally. We do not pay for an oftice or utilities. Our Board meetings are held online, and our finaii¢¢s are managed by our wonderful Finance Administrator, Alison O, Neill, who provides invaluabl¢ professional accounting and payroll services to us on a volunt¢¢r basis. Thank you, Alison. I would like to praise our small, talented, dedicated team who work tirelessly to achieve great things with limited resources. Our Board of Tru.stees are committed and loyal and support our team wilh mucli more than good governance. We are confident that thL Lorna Young Foiindation L'ontiiiues to carry on the ethos, values, aiid drive of our nainesake, and we hope that readers of this report will seriously consider how tliey can contribute to our out8landing work and initiatives, Get in touch, we wc)uld love to hear from you, Lastly, a huge thankyou to Emma Austin of Smith Austin Ltd, Chartered Accountants, for undertaking the inspection of our annual accounts pro bono, We very much value your support and generosity. Ian Agnew (Chair) LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Report of the Trustees The Trustees of Lorna Young Foundation (L YF) have pleasure in presenting their financial statements for the year ended 30 June 2024. Principal activity The company's principal activity is to act as a charity. OUR AIMS LYF'S Vision The Lorna Young Foundation's vision is to bring about change iii the attitudes and systems that prevent communities across the globe from working together to improve thcir lives. LYF'S Mission The Lonia Young Foundation (LYF) is a charity that works to ¢onn¢ct communities to trad¢ knowledge, products and ideas that will make their lives better. It do¢s this by devising and running unique programmes that bring together the many disconnected worlds that make up our socicti¢s - botli in the UK and across the world. We have a rich history, taking oiir name from fair trade pioneer Lorna Young who broke down doors to get the UK'.$ first fair trade coffec iiito supennarkets. Our work is based on a deep iinderstanding of internatioiial trade jiistiC¢ issues, We have a long history of solving supply chain challenges, and access to networks that Lan delivL'r expertise and funding. Our flagship programmes are: Farmer Voice Radio (FVR) - which engages small farmers and farmer orgaiiisations in th¢ developing world in the production of local radio programines tliat broadcast vitydl famiing information, equipping marginalised farnier communities with the knowledge, support and opportunities needed by their collective cominunities and their independent livelihoods. fvR help.s to improve ag7ricultural production, manage land Tnore suslainably and facilitate acccss to markets. lil turn, this supports the long-term viability and sustainability of remote rural communities. Not Just Us (NJU) - which offers young people, disadvantaged people and their coininunities in some of the UK'S most deprived areas an opportunity to create their own ethical and social enterprise, learning directly from thc LYF, our nelworks aiid our educational resources. LORNA YOUNG FOUNDATION REPORT AND FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 FARMERS, VOICE RADIO Farmers, Voice Radio (FVR) engages small farniers and farnier oi'ganisations in the dcveloping world in the production of local radio prografftmes that broadcast vital fanning infonnation across rural areas. FVR helps to improve agriciiltural production, manage land more sustainably and facilitate access to markets. 2022-2023 was another busy year for Farniers, Voice Radio (FVR) as we completed the first FVR Academy Iraining programme with the first cohort of participants and launched a second FVR Academy programme in 2023. FVR projects continued implementation in Ghana and Kenya and new FVR projects were started in Malawi and South Africa. There was a lot of project development work, which has sincc resulted in a new FVR project in Nigeria and an extension of the Kenya tea project. During this period the FVR team also prioritised building liiiks with tlie coffee ￿]d ethical trading sector, which included being the charity partiier at Manchester and Biriniiigham Coffee festivals. A hiige thaiik you to our international partners, geiierous donors and the many other chainpions of Farmers, Voice Radio, who have worked wilh us over thig last year lo work towards transform ing the lives of mill ions ot. farni¢rs and riiral ¢ommunities through the power of radio. PROJECT DELIVERY- PARTNERING WITHLOCALANDINTERNA TJONAL ORGANISA TIONS TO CO-DE,SIGN AND JMPLEMENT FVR PROGRAMMES THA T ADDRESS FARMERS, SPECIFIC CHALLENGES. GHANA: FVR for Shea Nut Collectors and Butter Processors in Northern c.hana Timeframe.. 0712021-0612023 LoLation: Tamalc, northern Ghana Partners: Tungteiya Wom¢n's Association, Solidaridad, Thc Body Shop, Cargill Zor and Global Shea Alliance Radio station: Zaa FM and Simli Radio Funders: Fund for Responsible Busiiiess (FVO), as part of tlie Netlierlands Enterprise Ageiicy (RVO), 'I'he Body Sliop International and Cargill Zor. This FVR project was developed followingi a suLcessful pilot project fuiided by The Body Shop (TBS). TBS brought t()gyether a consortium of partners to develop a 3-year project to ilie Dutcli Government FVO fund. This project aims to increasc incomes and improve livelihoods among shea producing communities in tlie Northern Region, leading to a stronger and more resilient shea supply chain. Women shea butter producers in Gliana are under huge pressure, and the global supply of shea butter is at risk. Climate change and unsustainable agricultural and land management practices are affectiiig yields and quality. A recent ITC report identified gender inequality, inadequate health provision and enviroiimental threats to ihe shea parkland as kcy risks to the shea supply chain. Poor infrastructure, low education levels and gender dynamics hinder access to essential inforn]ation, particularly for woinen. FVR are working in collaboration with Solidaridad, The Body Shop Interiiational, Cargill Zor, Tungteiya Women's Association and the Global Shea Alliance to achieve the followiiig planned outcomes". l. Improved quality and safety of shea butter production of l 0,000 women by 2024 2. Improved business skills and collective marketing from l 0,000 women in the target l O communities by year 2024 3. Increased number of women undertake alternative income generating activities (minimum 800). LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 4. Improved understandiiig of sustainable parkland managemeiit around 10 target Associations and action plan to secure the ongoing improvement in the management of Shea. 5. Improved sustainable due diligence process within the shea supply chain. This will be achieved tlirough FVR programmes produced by Programme Reference Groups made up of shea nut collectors in two communities, facilitated by Solidaridad and Tungteiya. These radio programmes will be broadcast twice weekly on 2 radio stations (Zaa FM and Simli Radio) in Dagbani language. The radio programmes address the key issues affecting shea workers and will broadcast shea price updates. Technical inputs are provided by the Global Shea Alliance and other partners and stakeholders in the project. N'Kalo is providing the shea market infomiation updates for the radio programmes and training. Communal Listening Sessions liave been set up in 10 target communities to ensure women have access to the radio programines. Listeners also have an opportunity to provide their f¢edback and ask questions througli an Iiiteractive Voice Respoiise (IVR) LIStener1￿¢¢dbaCk System (developed by the UK tecli company Cl imate Ed&ye). Th¢ radio programmes are beiiig broadcast alongside face-to-face training on arcas related to gcnder smart business skills, collective marketiiig, health and safety, cliinate smart agriculture, income diversification for up to 5720 women. Income divcrsification Iraining will include the establisliment of l O food and technology demonstration plots for women on the bordcrs of farms. lii addition, the project includes Community advocacy related to shea parkland managemcnt. The FVR team has partnered with TBS to present at the Global Shea Alliance Conference and TBS won a Sedex Award for their role in setting up and champioiiing this FVR project. KENYA: Farn)ers' Voice Radio for Women Tea Smydllholders &nd Workers in Nandi Hills Timeframe: 0412022 to 0912023 Locatlon: Nandi Hills, Kenya Partners: Sireet OEP (Outgrowers Empowemi¢nt and ProduLer Company), the National Organisatioi) of Peer Educator8 (NOPE) and Twinin Radio programme and station: "Tugetab Kabotik ab Sireet OEP" ("The sound of farniers from Sireet OEP ) on Ka8sFM91.I Funder and Partner.. Twinings This Fanners, Voice Radio projcct aims to empower women tea smallholders aiid work¢rs in Naiidi Hills to improve their families, health and wellbeing and to achieve more secure livelihoods. Sireet OEP has 12.000 smallholder tea farmer members, of whoin aroiind 30% arc women. Sireet OEP own and manage (with tl)e support of Eastern Pr(Kluce Kenya) Sircet tea estate and factory in Nandi County in Kenya, where Twiiiings sources some of its tea and was already implementing a health project as part of its Sourced With Care programme. The FVR project has the following objectives: l. Health To increase access to community and personal health information and services for women and families, in particular reproductive health and nutrition. To improve woin¢ii's knowledge, attitudes and practices around reproductive health and nutrition. 2. Gender justice To raise awareness of the benefits of gender equality amongst women and men. To challeng¢ gender imbalances in household decision-making and reduce gender-based violence. LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 3. Secure livelihoods To increase knowledge and adoption of appropriate alternative income geiieratiiig activities that will reduce families, dependence on tea. To increase women's control over household income. These objectives are being achicved through a 12-moiith Farmers, Voice Radio programme series, 'Tugetab Kabotik ab Sireet OEP, ('The of Fariners from Sireet OEP,), is broadcast twice weekly in the Kalenjin language on local radio Kass FM 91.1. The programm¢ the 12,000 membcrs of Sireet and tlieir households, as well as farmers and workers iiivolved in Twiiiiiigys tea supply chain iii Hills. The radio prograinme is being geiierated by Progtrrainm¢ Reference Group (PRG), made up of12 farn]ers (two from each of the six Sirect OEP zones), who meet monthly to discuss the selected topics, Relevant and credible local resource people with expertise on the discussion topics are invited to the PRG meetiiigs andlor interviewed separately by the radio preseiiters to supplement information provided by the PRG meinb¢rs where necessary, and to answer listener questions. Souiid which ststion, targets OEP otlier th¢ Nandi content Esther, one of tlie farmers selected feature in thc prograjnme. said: hould.shurL) our ()ffarmip7X"_ Ihe way youfarm 13 not ihe wuy Ifarm, .fo we cun exchange idea,$. By the lime ihe beans grow, we 3hall goforward. And we shallfind thal iadio i.s ihe easiesl way of cc)mn7unicalion.' you can have the knowledge where you are,. you d(Jn'l need transporl or money to get knowledge." to 'The Sound of Farmers from Slmt OEP, Programme Reference Group member8. Credlt: NOPE MALAWI: Farmers, Voice Radio for Sustainable Tea Livelihoods in Malawi Timeframe: 0912022 to 0912023 Location: Mulanje and Thyolo Districts, Malawi Partners: Sukambizi Association Trust operatioiis and fii)atiC¢. In addition, monthly Ineetings took place between the Chair and Director and other Trustees were frequently consulted and infornied, providing tidvice and challenge. The admiiiistration and op¢rational procedures of the charity are the respoiisibility of the current Board of 'rrustees, wlio delegate the day to day strategic and operatioiial management of the charity to tli¢ Director and through ihi8 Position to the appropriate staff through the method of sub-contracting and delegation, where appl icable. Governing Document The Charity is controlled by its Memorandum and Articles of Association, and constitutes a liinited company> limited by guarantee, as defined by the Companies Act 2006. Governance strategy Following ali extensive revi¢w of activities, iiicome, expenditure and capacity. the cliarity delivers financial sustainability and progressive service development, al l of which elements are revi¢wed at Truslees meetings, aloiigside regiilar Trustee reports, as appropriatc, and periodic risk appraisals. Recruitment and appointment of new Trustees We arc grateful to have a Committed and highly expert Board of Trustees with a mix of skill sets. We are not currently recruiting new Trustees. For future recruitment, th¢ Board rccognises that is it important to recruit those who fully understand the issues and challenges of etliical trading and share tlie general phi1050phy of the need to work towards a fairer approacli to consumption and distributioii of resources and of access to the knowledge and infornjation needed by the world's poorest farniers. The charity strives to promote a culture of open access and business acumen in equal measure and does not wish in its development to losc sighi of Èts prime reason for existiiig. Management and staffing Throughout this year, the charity had two formal employees for PAYE purposes. The charity has an Operational Dircctor and two FVR D¢v¢lopment Managers, one of whom works on a PAYE basis and the other on a on a freelance basis. A Finance Officer carried out basic bookkeeping functions on a voluntary basis. This has proved a higlily effective way to manage the charity as it has scaled up and grown, 15 LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 providing a flexible resource. Other individuals work on a freelance basis, as and when the need arises and when funding is available. Other outsourced support The charity now has an accountant, Einma J Austin FCCA of Smith Austin Chartered Certified Accountants, who has very kindly agrecd to act as ali independent examiner for the accounts for no charge, We are very grateful for her support. The Board believes that it has set a standard for reporting and good governance which is more exacting than usual for a charity of our si7.e. 16 LORNA YOUNG FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEARENDED 30 JUNE 2024 Financial Review The LYF'S financial year end is 30 June 2024. The charity continues its aim to ensure tliat its day-to-day finances are healthy, its accounting procedures are robust and that it is always mindful of and alert to the stratsgic issues and risks associated with the management of fui)ds. Financial Results and Positfion The presentation of our accounts for tlie year reflects our responsibilities in relation to the varioiis grant funders that have supported us with income that is separately identified as restricted income in tlie SOI,'A with corresponding expenditure. All our financial income and expenditure - both restricted and unrestricted - underpins our rnission. During thc year the charity received donations aiid income of £192,910 (of which £191,004 was rcstricted) and includes Gift Aid recovery of £Nil aiid Bank Interest of £186. Its expenditure was £167,669 leaving rese￿eS at the year-end of £115,007 (made up of Unrestricted I".unds of £27,470 and Restricted Funds of £87,537). Our unrestricted funds Lontinue to reach a more sustainable level. The Board wishes to thank all of its frinancial supporters, both and small, and takes its responsibility of slewardship in the distribution of monics awarded to us with tlie due diligence expeLted of custodians. Reserve$ Policy The charity's aim is to build up and maintain unrL'stricted r¢s¢rves amounting to approximately 12 weeks operational expenditure. The level of unrcstricted funds lias improved during this year. and is now in line with our reserves policy. Principal Funding Sources Principal tunding sources have been through g?rants from a nuniber of independent Trusts aiid fouiidations, as well as projLct income from commercial supply-chain orgaiiisations in support of proj¢cts relating to th¢ir producer partners. As rcport¢d previously our stratcgic aim is to move away froIn tlyis Irlianc¢ on graiil fliiiding and build sustainability through income diversity. We are actlvely exploring oihcr sources of income, includiiig corporate and individual donations, Lonlracts, trading income