TROPICAL HEALTH AND EI)UCATION TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY No. 1113101 COMPANY No. 05708871 ADC1119AP' 2710912024 COMPNIES HOUSE
145
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guaF3nteÈl TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 ST CONTENTS Page Reference and Administrative Details Trustees, Report Independent Auditor's Report Statement ol Financial Activit5 for the year ended 31 t)ecember 2023 21 Balance Sheet at 31 Dernber 2023 17 Staternenl of Cash FwS al 31 Deceirthr 2023 23 Notes to the Financial Staterwits 24
TROPICAL HEALTH AND EDUCATION TRUST IA cornpany limited by 8uaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees.. Ms R(xJa Ali Ahmed Mr JusbnpnAsh Or Titilola Banjoko Professor Ged Byrne M8E Dr Jemima Denni$-An1 Professor Valerie Fleming Ms Elaine Green laptKJinled 14 March 20231 Mr John Headley {apwinted 8 May 2023) Mr Mike McKirdy Professor Rosalind Raine Mr Jonty Roland Dr Julia Terry (appointed 30 March 20231 Chief Executive.. Mr Ben Simms Company Secretary.. Deputy Company Secretary". Ms Joanna Green Ms Donna Pryor Registered Office.. 86- 90 Paul Street 3rf Fboor London EC2A4NE Independent ALKlitor Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP Charity Registration No". 1113101 Registered Company No.. 05708871
TROPICAL HEALTH ANO EDUCATION TRUST IA company limited by 8uaranteel TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEM8ER 2023 The Trustees, who are also the Oirectors of the company for the purposes of the Companies Act, present IheirAnnual Report. whith is also the Directors. report for the purposes of the Companies Act. tffjelhei with the audrted Financial Ststements of the Company for the year ended 31 December 2023. The financial statements compty with current statLrtory requirements. the requirements of the chanty's goveming document and in accordan wth Accounting and RepJb"ng by Charities.. Statement of Recommended Plac (Charrties SORP {FRS 1021). The name of the chanty is Tropical Heath and Education TrusL" is also known as THET. The following Iruslees have acted during the year.. Ms Roda AiAhmed Mr Jusbnian Ash Dr Tililola Banjoko Professor Ged Byme MBE Dr Jemima Denn¢s-Anhvi Professor Valerie Fleming Ms Elaine Green {appoinled 14 March 20231 Mr John Headley lappoinled 8 May 20231 Mr Mike McKirdy Professor Rosalind Raine Mr Jonty Roland Dr Julia Terry (appointed 30 March 20231 Ms Claire Hammond (stepped down 21 June 2023) Mr Hugh Risebrow {slepped down 310ecember 2023) Chief ExecutTrve'. Mr Ben Simff Company Secretary". Ms Jacqueline Mutibwa
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 sr Introduction from the Chalr of Trustees 2023 was my second year as Chair of Trustees and l am proud to see Ihe pace at whth the Tropiral Health and Education Trust ITHET} is progressing in the delNery of its vision of a world where everyone has access lo quality healtheare. The four impact goals and six enabling goals described in this report ovide the framework for our charitable activty and l am delighted with the prOe$S made. 2023 marked a s1gnrfant perKKI of success and growth THET, wtlh our Senior Management Team reporting in Febiuary 2024 that 68 people were employed by the organisation in December 2023, with £12 million expenditure forecast for 2024 at that time. At the lime of writing, the THET team has continued to grow to 84 with forerasl expenditure of £16m in 2024. marking the momenium with which THET continues to grow on the foundalKJns laid in 2023. This growth has brought several challenges includin9 onboarding. resourcing. and HR, which have all been admirably addressed by THET staff. With strong growth in the staff leam. l am delighted lo note the continued very high standard of delivery of our charilable aclivilies. induding increased commissioning of grant projects. which are outlined in rrttye detail later in this report. We have also seen growth in our geograph eSen. and l am proud to report we are now registered as an NGO in Ethiopia. This registration wll assist in securing further partnership and funding opportunities in the country, whtch holds particular Slgnrfance to the organisalion due lo the close relationship of our founder. Professor Sir Eldryd Parry, wth the county. l am excited lo see our work grow in Ethiopia over the ¢c1ng years. This year. THET has continued to champion the ft)le of Health Partnerships in delivering Universal Health Coverage. and lo advocale for the safety and wellbeing of health workers around the globe. 2023 has not been without its challenges. bul vAth collectsve tenacity THET has overcome significant hurdles. There were many highlit$ over the course of the past 12 wnthS. making it difficult to choose Ihe highpoinl of this year. However. confim7atic of funding for the £8.9 million Global Health Workforce Programme IGHWPI by Ihe UK Department Health and knial Care is a s18nd-oul moment which illustrates the faith of the UK Govemment in the Health Pathership appyoach. By the end of 2023, THET awarded grants in Ghana, Kenya and Neria lo 33 Health Partnerships, collectively amounting to £5.9 million worth of actNity. This has contributed towards THET increasing ils annual income from £4.2m in 2022 to £5.3m in 2023. This is extremeFy pleasing. txjt we are also very conscious of our responsibility lo deliver value and impact on behalfof UK govemment in retum for the faith placed in us. l am therefore pleased to see the quality and impact of the projects to be delivered through the programrne. Digital Iransformalion remains a major prKxityforthe charity. This is seen in tsjr programme work, where lechnology is allowing us to delivef training in challenging settings. such as Myanmar and North-west Syria. Technology has also been central lo the adoption of hybrid w01ng practices for our staff and in the runnlng of many of our events.. our online conferences are. for example, far more accessible and inclusive as a result of digital transformation. and we were pleased lo have again offered free tickets to our autumn annual conference for attendees from Low- and MdIe-Incorne cntn.eS ILMICs}. In 2023, we hosted our online annual conference 'Acceleraling Actson on Univetsal Health Coverage: The Role of Health Partnerships,. The conference welcomed 52 speakers with 465 registered delegates from acros$ 40 untrieS. We ore very grateful to our sponsors for enabling this to happen. THET also continued to be al the forefront of athocating lor Ihe restoralion of UK Official Development Assistance IODA) spending to 0.7% of GNI. pursuant with the longstanding United Nalions largel. 11 is disappointing that the govemment have not provided any further updates lo the earfier tirnefr8rne that a retum to 0.7IJk is not expected until after 2027128 at the eadiest. THET wll continue lo advocate for this important resloration in funding.
TROPICAL HEALTH AND EDUCAnoN TRUST IA company limited by guarènteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Al the start of the year the Board conducted a ard effeclTveness review to inform future conduct. Generally Trustee5 were very salisfied with Ihe frequency. conlenl and level of discussion and enquiry al Board meetings and with the input from the management team, with a desire to learn more about specrfic projects ard in particular on how the organisats.on was developing and supports'ng its employees. These were made subjects of Board discussion during the year. Despite the ongoing challenges presented by the reduction in UK ODA spending. in 2023 THET has supported 154 Health Partnerships to improve their capacity and effectiveness. increased access to healthcare 105.821 people. and Contributed to the training of 7,890 health workers in 2023. THET is driven by deeply committed staff. guided by 12 brilliant Trustees, and supported by a team of dedicated Honorary Advisors. l am proud to be Chair of the Board of Truslees al Ihis impactful and globally respecled organisalion. I would like lo say a spec[ thank you lo the departs.ng Trustees Ged Byrne, Hugh Risebrow. Claire Hammond, Mike McKirdy and Jonty Roland, whilst also welcoming new Trustees ioiniftg in the coming months. The Board as a whole continues to dedbcate enormous amounts of lime on a voluntary basis. with each Trustee attending a quarterly comrniltee meeting in addition lo the Board meeting. Their contribution also extends to other elements of THET'S work. including supporting wth Ihe conferences held during the year. albwing us to draw on insight from residents of two Afn"can countries. and diaspora. as well as the UK. Finally. I would like to thank Ihe Chief Executive. Senror Management Team and all other stsff and consullts for their hard work and achievemen15 al THET during the year. MrJustinian Ash Chair of Trustees
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2023 OBJECTIVES AND ACTMTIES For 35 years. THET has been wothing in partnership to strengthen health systems and buikl health workforce capacity in LMICS. W(xking closely with Ministries of Health and in partnership wilh UK and LMIC health institulions. and as an NGO in Official RelatN)ns with the Wortd Health Organizalion IWHOI. we strengthen health syslems by responding lo local and nalK)nal priorities, supporting the training of health profess)nals. facilitating knowledge exchange and the development of policy and regulatory environments, and offering thought leadership and project management expertise. In October 2022. we launched our new five-year strategic an for the period Ihrough to the eve ol our 40th anniversary in 2028. As well as dearly a'culaIlng our role in brokering Health Partnerships and giving expression lo our core organisats.onal values. the strategy emphasises the agility that has been fundamental lo our ability lo flourish in recenl years. At the centre of our approach is the m¢)del of Health Partnerships; long-lemi relationships between UK and LMICS health inslitulions. which improve health services through the reciproeal exehange of skills. knowledge. and experience. They are rooted in an understanding that equitable relab"onships between health professionals across borders can benefil all involved_ This report is structured around our Key Perfomance Indicators (KPIS) for the reporting period. Staff and partners reported progress against a sel of quanlttslrve targets and qualilalive measures. on a quarterly basis for six Enabling Goals. a1 every six months on four Impact Goals. Our dedicated Research. Evidence and Leaming Team gathered regular rept$ from our Programmes Team and grantees. In aLl¢Jilion. we commissioned studies to invesbgale effectTveness. such as value for ffloney, and we devebped case studies on proiecl and partnership impacl. In producing this report. THETS Board of Trustees can confirm that they have complied wlh the duty outlined in the ChariliesAct 201110 have due regard to Charity Commission guidance on public benefit. Headline achievements in 2023 The achievements in the follo%wng seclion are a testament lo THEfs innovative apFffoach to work with impact. We have improved access to heafth services for 105,821 people. We have contributed to the training of 7.890 health workers. We have supported 154 Health Partnerships lo improve their capacity and effectiveness. We have supported 192 UK health workers lo engage in global health activities. We have produced 11 pieces of new evidence and leaming and disseminated these inlemally and amongst our stakeholders. irkyuding our flagship retx)rt 'The vol of the Experts in our Midst.. We delivered our online annual conference'AcceleralingAction on Universal Health Coverage: The Rofe of Health Partnerships.. The Conferen hosted 52 speakers with 465 registered ¢Jelegales from across 40 countries. Several programmes started during 2023. including our Global Heatth Workforce Programme and Global Capacity Building prografflmes. meaning a partKularty busy lime for grants management. 79 grants in total were awarded totalling £8.1m.
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by 8uaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Our performance againsl our strategy IMPACT GOAL 1 then the heallh workf and the health 5 stems in whi Ihe Across our programmes. the training and development of heallh workers is contribthing lo improved access lo health services and improved health outcomes. In 2023. we improved access to health services for a total of 105.821 people and our programmes have helped to train 7.8WJ health workers. Examples indude: Through the Commonwealth Partnerships for Anlimicrobial Stewardship ICWPAMS) 2 programme, 884 LMIC healthcare staff were trained in Infection Prevention and Control {IPC}. anlimicrobial resistance IAMR). anlimwjbial stewardship IAMS}, Point Prevalence SuTheys PPS}. One Health. qualty improvement. and substandard and falstfied medicines. Through the UK-Myanmar Health Fund. we have supported 35.109 patients through teleconsultations in Myanmar. A new website was launched which allows patients lo book appointments d1Cl1y. and a lolal of 353 health educatiL restsjrces have beeft posted in seven elhnic languages with approximately 1.6 millton views and shares per month. In Somaliland, with fvnding from Ihe Fraxinus Trusl, the team has been working closely with the Ministry of Health and our lo1 partners to increase awareness of maternal health and new- boffl services in hard-to-reach areas. The 100 Female Health Worker5 previously Irained by THET. covering 10 rural communities. reached 13.467 commLJnity members Ihrough outreach and awareness aclNits"es (7.027 female5. 6.018 children. 422 male} and referred 1.516 pregnant women who showed signs of concem lo heath facilities. This module has been deemed succes51ul by the Ministry of Health Develcyment. who have adopted the approach al national level, aiming for all NGOS wcffking in malemal heth and e¢)mmunty engagement to follow the model and haimonised training content. The flagship £8.9 million Global Health W(ykforce Pr(Jramme {GHWPI fvnded by the UK Departrrnt for Health and Social Care has opened lor applications. By Ihe end of 2023, THET awarded grants in Ghana. Kenya and Nigeria to 33 Health Partnerships, amounting to £5.9 million worth of activity. Under the Specialist Training Programme ISTP), we plawl UK obstetri & Gynaecology specialists in Zambia to undertake Supervision. menlor5hip and educational opportunities for Zambian trainees. Dr David Kelly completed his slay al Kasama General Hospital from August to December 2023. Addilionalty. Dr Thomasin Heggie conducted a shrrft-term placem8nl foi three weeks, assne(l lo Unrver5ity Teaching Hospytal in Lusaka. Additionalty. our advocacy and wlicy work has seen many $ceSseS this year. Examples include: We have received explicit reference lo our woth in the Foreign. ComfrHJnwealth and Development Office While Paper .1ntematnal development in a contesled worlLI.. ending extreme poverty and tockling climate change.. We were pleased to see endorsement of our approach in one of the commitments of the Whrte paper.. Mle will hamess the energy and expertise of NHS staff.. building upon the exiensNe partnership experiences of organisats'ons such a5 the Tropical Health and Education Trust {THETI and NHS England. to help drive faster pr¢yJress towards Universal Health Coverage globally We have maintained our status as an NGO in Official Relations with the Wortd Health Organizalion IWHOI. We have been represented at the 5 Global Forum on Hurnan Resources fc* Health and al Ihe World Health Assembly. tsking forward our advocacy messages in relation to workforce mIgran and raising THET'S visibility al these important fora. In February 2023. the APPG for Global Health held a roundtable in Parliament on the anniversary of the coup in Myanmar. The meeting. CO•sponsored by the Parfiamentary Human Rights Group and chaired by THET Patr(x) Lord Crisp. induded Profe$50r Zaw Wai Soe. the
TROPICAL HEALTH AND EDUCATION TRUST IA company Ihmited by 8uaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 ST Minister of Health for the Nalional Unity Govemment. and Catherine West MP, the Shadow Minister for Asia and the Pacific. Chaired by Baroness Northover. we c(pordinaled delivery of a Clirnate and Health Evenl in November 2023 for the APPG on Global Health. in advance of the annual Conference of Parties. COP28. in Deeember 2023. We mpleted. published, and launched the Voices of the Expgrts in Our Midst report in the Houses of Partiafflenl on Universal Health Coverage Day, and completed plans for launching in the Senedd in January 2024. Baroness Walkins presided. alongside supporters from across the NHS and indeF*ndenl sector. 2. IMPACT GOAL 2 To stren en the Health Parthershi eommuni Our work lo strengthen the Health Partnership communty is continuing al ftjll pace. In 2023, we were delighted lo award £8.1m in grants. and we continue to provide networking and workshop opportunities for Health Partnerships. Examples of (Mjr work against Ihis impact g)al include.. We delrvered our online conference. Accelerating Act7 on Unwersal Health Coverage." The Role of Health Partnerships. Representalives included delegates from WHO. NHS England, Health Partnerships and the privale sector. The lnferenc hosted 52 speakers with 465 registered delegates from across 40 coJntries. THET held workshops for Health Partnerships on several projeel delivery themes. including.. Gender Equality and Social Indusion IGESI).. Safeguarding.. Behaviour Change; Monitoring & Evaluation. and,. Ihe Principles of Partnership. We also proYKJed several ¢venIng nvjments for Health Partnerships lo netsvork. including the GHWP ternatIonal forum in November 2023. where over 200 attendees met online to explore areas of south-soulh cdlaboralion. The Global Health Workforce Programme. Global Capaaty Building Programme, and the Remote Inlemational Mentoring Programme grants projeds comrrenced in early-2024. and will further our work tr) strengthen the Health Partnership community. 3. IMPACT GOAL 3 To be ambitious in our a ui and indusion. Through the development of the Programffe Qualty Standards. which Contain explicit reference lo Gender Equality and Social Indusion IGESI). all THET teams are being supported and guided lo consider GESI in the deSn of their prOgrams. This is also a requirement in all new grant programmes. Examples of (yJr approach to equalty and indusion include: Through the UK-Myanfflar Heamh Fund. the Royal College of Paediatrics and Child Health grant focusing on nursing had 93% of its clinical and leadership training attendance by lemales. The Cambridge Global Health Partnerships project created 353 training and awareness resources in local Inon-8arnarl languages. Through the Ccm0Wea1th Partnerslws for Antimicrobial Slewar(iship {CwPAMSI Programme. several steps have been taken to further implemenl GESI pnnciples. This includes providing GESI training to new 'spoke' hospilal facilities. exploring barriers Ihal exist in the
TROPICAL HEALTH ANO EOUCAnON TRUST IA company limbttd by guaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 community and uts'lising female communty leaders to share information about AMR, and woth'ng to identify dedicated GESI charn5 within grantee hospiial faculties. 4. IMPACT GOAL 4 To ensure all wr wor* advances climate m tation and resitience. The climate crisis is deeply conceming for individuals acn)ss the entire ghjbe. We are dedicated to ensuring that all ourWCk advances dimale mibgation. adaptatK)n. and fesilience. Examples of ourwork indude.. All new programmes are devdoped incortling the envIrMents1 Mitigation and adaptation quality standards. We incorporated additional environmental requirements into the Global Capacity 8L¢ikJing Programme call documentation. wrth applieanls asked to ccK)sider 'a focus on planetary health, sustainable delivery of healthcare. or climate adaptation" Applicants lo our programmes must demonslrale a c¢Jnmitmenl lo minimising the impact of the project. an¢Yor reduong the impact of the health system and the environment. sUeSsful applicants will need to report on the C02 emissKJns of any intemational flights. In 2023, our total fih1 emissions were 25.97 tonnes of C02. We strive to only book inlemalional air travel where deemed necessary. and where possible conduct meetings online or employ consullanls for long-temi representation in partner countries. 5. ENABLING GOAL 1 Ensure all THET'S rafflmes meet a riale uali standards. By the end of December 2023. THET Programmes M8n8gers had undertaken wogramme quality self- assessments {PQSAsl and evaluations on 100% of all Fyopcts above £20.0. The PQSA scoring is based on the THET Programme Quality Standards, whieh are divided into 3 levels across a variety of themes. Programmes should reach Level 2 in each of these themes lo pass the programme quality stsndards. whith proiects succeeded in doing. Areas identified for improvement included.. incorporation of climate adaptationlresilience" assessment of value for money.. enhancin9 safeguarding,. and strengthening M&E capacity. 6. ENABLING GOAL 2 Generate and use robust evidence to infomi our work and the work of others r benefit of collaborab"on. nisin the mutual We have produced 11 pieces of new evidence and leaming and disseminated these inlemally and amongst our stakeholders, induding our flagship report 'The Voices of the Experts in our Midst.. Examples include.. We completed. published. and launched the VolS of the Experts in Our Mtdsl rewrt in the Houses of Parliament M 12 December 2023. UnNersal Health Coverage Day. and completed plan5 for launching in the Senedd in January 2024. 8aroness Watkins presi(JeiJ the Padiamentsry launth ofthe rep)rt. alongside supporters from aeross the NHS and independent sector. The report followed on from our 2021 Experts in Ouf m$1 report, high1htIng the lived experience of diaspora health workers within the NHS in England and Wales, and documenting how they are using their knowledge of other health systems to improve health in the UK and in countries of heritage. The reFKWt had Iwo versions. f¢xusing on the drffeTenl contexts in England and Wales. In the Pfeparali(Jn for and development of the Global Health Workforce Programme. THET has undertaken the prcrfjuction of scon9 reports in Ghana. Kenya and Ni9eria with the aim of
TROPICAL HEALTH AND EOUCATION TRUST IA tompany Ibmited by guaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31" DECEMBER 2023 defining. alongside the Govemments of these countries. the priorities lor the programme in the field of health workforce development. mU1-StakehOIder engagement was undertaken in the three countries in September 2023. with reports finalised and validated in October 2023. This work was led by THEfs Technical Director- Health System Strenglhenwu. 7. ENABLING GOAL 3 Create a entred or anisation b brin alNe our re val The Annual Staff Survey and Hybrid working review eovering the pericrfj July 2022 - July 2023 was carried out in August 2023. with feedback generated from across the organisats.on induding country teams and all UK. The resulls were overall very positive, and the feedback indicated there is much to eeiebrate. with sonificant improvements in speufic areas since last year. Most peopk have a posilive view of working for THET. bul slaff members have also candm1 shared where there are areas for improvement and this is l)oth helpful and valued by SMT. as we implement the actions moving forward. The second hair of 2023 was characierised by a signfficanl increase in staff numbers which meant consideraWe energy was fooused on inducting slaff and cohering teams. As part of our ongoing comrnitment to maintaining standards of data protection and privacy in our organisalion. our IT support partners. Srnartdese. ran a Data Proleth"on Training Workshop for THET staff on 15 November 2023. The workshop was designed lo enhance our understanding of dats protection principles and regulations. ensuring Ihat we continue to handle sensitive information with the ulmosl care and compliance. This also enabled staff to increase their knowledge and skills to protect personal data and the sensitive information of our beneficiaries. Health Partnerships. and the organisalion itself. We continue lo actively review our policies across overseas offi$ ensuring that we meet and satisfy national requirements and local legslation. This includes lax liablties. Statutory redundancy payff*nts and contracts. ENABLING GOAL 4 Effectivel mana e cHJr finance and rations across the o anisation. Currently. all our offices are operating within appropriate finanal and operational standards. THET'S Global Finance Manual. is a key document which clearty outlines our financial management framework induding financial policies. standards. and procedures for THET both in Ihe UK and for our overseas country offices. Currently each jurisdicts.on is working n-line wth the Global Finanee manual with monthly reviews taking pkGe. 9. ENABLING GOAL 5 Stren then our use of technol across all our work. THET continues lo use ils tAgital Transformalb)n Strategy and Princip$ for Digital Development lo ensure successful digital inlervenlions within our programmatic portfolio. Across our County Programmes. Veta Bailey. Savin9 Mothers at Delrvery and MAWARID pro9rammes have all utilised these frameworks when delNering dlta1 enaernent. THET has continued its successful (Jigitsl engagement across our Communulions platfomis. THET'S website has provided impressive analylKs. performing again beyond our expectations of 50%. Furthermore. with the development of new programmes and our increased comms portfolio, our returning user rale has increased to 24.7%, again narrowly missing out on our target of 25%. We predict this lo conlinue lo grow with the conlinuats.on of new programmes. These statistics are also supported through our newsletter stalislics whth ecbnUeS lo wow wth an open rale of40°h. Imp$S1¥elY higher than the industry average of 21 %. io
TROPICAL HEALTH ANO EDUCATION TRUST IA company limited by euaranteel TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 For the first lime, THET staff recwved mandatory GDPR training from our accredited IT Managed Service Provider. Since then, no data protection leaks or issues have been raised either internally or externally. Training material will also be availab for new staff for the first lime. Working with HR, 8 wider range of digital training is now in place including mdular safeguarding (which includes digital safeguarding}. cyber security and GDPR to ensure our staff. the wider organisalion and beneficiaries stay safe working online. 10. ENABLING GOAL6 Generate dNerse and sustsinable fundin We secured £19.5m of funding in 2023. which equates to 349% of our stretch target {£5.6ml. 91 Yo of (MJr funding has en provided by inslilutional donors. predc*minantly the UK Department for Health and Social Care and Ihe European Union. Of the remaining funding secured in 2023. Trusts and Foundalii)ns make up 5% with Corporates accounting for 4%. Institutional funding has been the bedrock of our success vthh 3 Signifrcant funders Gontribuling a total of £17.7 million, exceeding our original target by 422°h. This year has been a positive year for funding re1Ve(l from Trusts and Foundations. as we have exceeded our stretch target by 40% raising £982k. Most pleasing is Ihe six donots Ihal have each committed over £100k. Over pasl five years. fundir¥J from Trusts and Foundations has averaged £277k. Through Corporate Funding of £746k by Sanofi for prc¥Jrammes in Zambia and Uganda. we have achieved 141Vo of our stretch target. It is worth noting that some rpOrateS operate fovndations Ihal are recognised in the Trust Foundations donor stream. Only a small propthon of ourfunding, less than 0.5%. Comes from individuals. We are pleased lo have achieved our stretch target for the year, £45k. Events income lotalled £62k in 2023. equating to les5 than 0.5% of total irujme and fell short of target, due mainly lo only one ccfflference taking place in 2023. KEY LESSONS LEARNT- CHALLENGES IN 2023 This year has marked another period of intense aetivity and institutional change. underswred by remarkable impact and significant financial successes in ihe face of continuing political instability relaling lo UK OOA spending. It is a testsment lo all THET staff. Trustees. and Honorary Advisots that the charity has perfomied so admirably lo achieve many of Ihe goals set at the start of the year. As this rep dernonstrdtes the charity continues lo adapt. remaining ready for the unexpected and able to move al pace to ensure the cryanisats"on's sustsinability and gr0h amKlsl often hr¥jOUndIng crises. Structure. Governance and Management THET a registered charity Iregtslration number 1113101 } and is constituted as a company registered in England and Wales and limited by guarantee (registration number 05708871). Its objects and powers are sel out in its Memorandum and fvrticles of AssoclI0n. which is the charity's goveming document. li
TROPICAL HEALTH AND EDUCATION TRUST IA cornpany limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDEO 31 DECEMBER 2023 Trustees The Directors of THET are the Trustees. collectNely known as The Board of Trustees (The Board). The Bo8rd. THET'S goveming body, comprises a minimum of 3 and a fflaximum of 12 Trustees. Trustees serve an initial term of three years that can be extended for up to a maximum of three year5. The Iruslees are also members of the company. New TnJslees are appointed by ordinary resolution at the general meeting. Members of the Board have guaranteed the Irabilities of the company up lo £1 each. Trustees are apwnted followng open advertising in specialist publieations or on specialist websites and following a rOrouS Interview prLxess. Al new Trustees are provided with a structured induction programme. The Board of TnJstees has created fJr specialist sub-ccrnittees lo assist it vthh its work: the Finance. Risk and Governance Committee (FRGCI, the Programmes Qualtty Committee. the Remuneration Committee IRemCo} and Ihe Extemal Engagement Committee. Each committee indudes members of the Board and may include addilion81 members appointed for their specialist knowledge. The Finance. Risk and GovemarKe Crrnittee (FRGCI. THET'S audit committee. chaired by the Treasurer, meets as necessary with the extemal auditors. tr)th with and wlhout the presence of management. The FRGC reviews the extemal auditor's management letter and monitors implemenl8tion of aeth)ns reqUId as a result. The FRGC also has responsibility to advise the Board on whether Ihe audit, risk management and control processes within THET are effeelive. The Remuneration Committee monilors THET'S poiicy on remuneration and beneffts for 115 Staff and reports annually lo the Board. The Remuneration Committee meels annually and was chaired by Hugh Risebrow. In 2023. salaries are set after consideration of the cost of living. the financial rx)sition of Ihe charity. and roles and responsibilities after taking into account the contracts being handled by THET. THET'S Trustees are responsible for everylhing that THET does. However, lo ensure that THET is managed efficiently and effeclively. the Trustees have delegated a range of day-to-day decision-making powers lo the Senior Management Team. Trustees have abo established appropriate controls and reporting mechanisms lo ensure that the Senior Management Tearn operates within the scope of the powers delegated to it. The delegation policy is updated on an ongoing basis and is formally reviewed and approved by Trustees. The Men)ers of the Senicrf Management Team are not directors for the purposes of company law. There has been no speafic restriction IMSed by the charity's goveming document on the operation of the Trust. Trustees are authofised by the charty's goveming document to invest any money of the Charity not immediatety required for its funciion in appropriate, legal investments provided that any ne¢essary consents are first obtained. Annual trustee activity A typical year for a Iruslee indudes the foNowing". Attendance at four Board meetings per annum Attendance at the AGM Attendance at committee meetiThJs. and at ad hct gr(yJps convened for specific purposes Attendance al staff or senior management meetyngs on an caSional basis Allendance al events le.g.. Publ meetings. rrffttings with THET volunteers I supporters I donors. THET Away Dayl Allendance al the Annual Conference Trustees with specialist knOedge may work with senior management. both to provide advi and support. and to enhance board understanding and scrutiny. 12
TROPICAL HEALTH AND EDUCAMON TRUST IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31- DECEM8ER 2023 Risk assessment The Trustee5 keep strategic and operabonal risks under quarterty review at the Finance. Risk and Governan meetings, and the full Board of Truslees meeting5. This vOlveS an assessment of probability and potential irnpact. and a discussion of mitTrgakn"ng acInS prepared by THET'S Senior Management Team. The areas of risk reflect the fact that THET'S staff and volunteers operate across many different jurisdictions, meaning that controls around finance and the movement of people are especially important. The risks also examine Ihe extent lo which THET is ab to evidence the impact of its work and demonstrate Value for Money to its wide range of supporters, both individual and inslilulional. Finally, the risks k)ok al the eharity's abiltty io generate financial support for its distinctive model of Health Partnership working. In terms of ils general affairs. THET operates prudent policies in all ils financial operations. with any signfficanl expenditure requiring approval by Trustees. THET also makes arrangements for appropriate insurance Ver and other protection where this is appropriate in its activities al hcxne and overseas. There are a wde range of mitigations in place. In relalion to de$tratIng impacl. for example. THET makes regular use of external evaluations of its work. In relation to income, THET is able to ck)sely track ils conversations with donors allowing rt to closety track the success of ils efforts to grow and diversify ils iicome. Oura ach lo lundraisin activities The charity raises fvnds from diverse sources including institutional donors. Trusts and Foundations. private sector partners and indNiduals. in the UK and Intemalna1Iy. We have developed an Eihical Fundraising Policy lo gUe decisions on solicilatThi and acceptsnce of fun¢Js. The charity undertakes ._Yearty fundraising campaigns which reach a small number of patrons and supporters who have consented to receive Ihe campaKJns. Beyond this the trustees are pleased to receNe unsolicited gifts and legacies from patrons and supporters who generously support our work. Beyond this. THET does not currenlly aclivety fundraise from the public. run legacy campaigns, or undertake similar fundraising activitses in its own right. No complaints have been reIVed from funders or beneflarIeS in respeel of fvndraising activities undertaken by the tharity. Grant-makin olicies THET issues grants lo Health Partnerships delivering projects in keeping wilh ils mission. Grants are selected following a fair and transparent process whereby applicants are provided with template forms and guidelines that stale the WfP05e of the fund5. eligits'lity enteria and a timeline for submission and selection. Once awarded. and when contracts are signed. grants are managed in line with the Grants Management System, which sets out checks and controls to ensure that fvnds are being used for the purpose ststed in the applicab"on. Financial and narratyve reports are submitted al contracted intervals to show levels of spend and a¢b"vrty against pian and. where necessary. 10 expkain exceptional variance5. Milestones are set during the inception phase of each grant and progress is measured against these. Other risk management processes include checks and controls on adequale financial management and verification of the legal prolectson and safety of those involved in the project. Infomiaty'on is gathered through reports and meetings and through spot thecks on receipts and other documentation. 13
TROPICAL HEALTH ANO EDUCATION TRUST IA company limited by 8uaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 DÉCEMBER 2023 ST Financial Review: Key hhlIghtS trom the 2023 Accounts are: Totsl income increased from £4.18m in 2022 to £5.35m in 2023. Totsl expenditure increased from £4.17m in 2022 10 £5.25m in 2023. Nel current assets (debtors + cash- creditC) wKreased by £92k lo £2.76m. Unrestricted reseThes were £691,185. The PTinapal funding sources in 2023 were government bod$, induding the Foreign, CmOnweallh and Development Office and the Department for Health and Soaal Care., public bodies. including NHS England- corporate entities, such as Johnson & J¢)hnson.' and Trusts and Foundations. such as the 8111 & Melin¢ia Gales FoundalM)n. This funding is used for vaibjus project activities as specified in the donor agreements. For Speci details of these projecls please refer to Note 16 of the accounts. Chantable lunds The funds held by THET are in interest-bearing ace¢)unls managed by the CharIt$ Aid Foundation and HSBC Bank plc from which they can be withdrawn as needed. The Tnjst is able lo meet all its obligation and commitments within ils present cash fk)w and assets. THET does not hold assets except as detsiled in the accounts. The salaries of project staff are derived mainly from grants. THET operates in collatoration with other Charitab bcmjies lo pursue its objectives. Res•rves Policy The Board of Trustees has established a General Reserves Policy which contsnues to protect our programme work from risk of disruption al short notice due lo a lack of funds. The Policy also provide5 parameters for future strategic plans and contribtsles towards decision-making. 11 determines an appropriate target level for general reserves. tsking into accojnt the follon9 factors.. Vulnerability to unplanned changes in fmancial positi. relating mainly lo unpredictability of fundraising and unrestricted income and securing fulure restricted and unrestricted contracts. Net financial Tisk relaled lo the atrve. taking into account the lknly speed of onset as well as the mitigation steps available lo management. The fact that expenditure is generally predKtable and long term. with the exception of 'variable' spend on reslricled programmes where risks typicalty involve unplanned events such as hostile government aclion or major uninsured health and safety or security emergeneies. This approath provides a target base level ofgeneral reserves for good govemance: to cover 3 months organisatial closure cost and the cosls incurred by cessation of pr(NJramme and grant activity. The basis of determining the target reserves level is kept under review and is adjusted lo ieflecl lunded activity. and thus organisalional size, laking into account actual and perceptions of risk. The minimum target level of reserves in 2023 was set at £450.OCrf). Reserves were £691.185 al 31 December 2023. Arrangements formonitoring and reVieng the reserves policy The reseNes policy is, as a minimum. subjeet to annual relW by Trustees. with ts next review scheduled for December 2024. In addrtion. the Trustees monitor THET'S performance again51 the bvdgel throughout the year and c(msider the need for a reconsideration of reswves. dependent UF changes in aclivty and organisational structure. 14
TROPICAL HEALTH ANO EDUCATION TRUST IA cornpany limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 315T DECEMBER 2023 General ReSerS (Unrestrl¢tedJ General reserves are not restricted lo or designated for a particular purpose. General reserves are £691.185 {2022- £956.0261 al the end of Oecember 2023. A detaiw review of the level of unreslricled reserves was conducted in 2023. Restricted Funds These funds are tied lo parb"cular purposes. as SPlfied by Ihe don or as identified al the lime of a public appeal. At 31 December 2023. unspent re5tricled funds were £2.069.23212022 - £1.712.1061. Total funds At 31 0mber 2023. total funds were £2.760.417. with £2.280 of thi5 relating to fixed assets. Future plans n 2024 THET wll expand its geographic coverage to .rnbabWe. where we have been awarded a £664,051 contract from FCDO Zimbabwe lo pilol a UK-Zimbabwe health partnership fund management programme, designed lo demonstrate the polenlial of the mutual impact an intemalional partnership approach can have on health WOrkfCe capauty. THET has also secured exlension funding for the Global Health Workforce Programme, worth £4.450.000. which will enable us lo expand the programme lo Ethiopia, Malawi and Somaliland. Additional lunding of EUR 8.000.000 will enable us lo continue to supporl partners to strengthen rl¢al education in North-west Syria for a further four years. Impact of COV11%19 Although reduced compared the recent years, the irnpacls of the COVID-19 pandemic have erealed additional challenges for the charity and has continued lo shape the way we work. THET has. however. been able lo continue operations remoldy. with limrted disruption. although some projects have been delayed and onsite monitoring visits have not been possible in all cases. The impact of COVID-19 on THET has therefore en restricted. TSlee5. responsibilities Company law requi$ the Trustees to prepare acccmjnts for eath finaneial year whieh give a true and fair view of the stale of affairs of the charity ant1 of the surplus or deficit of the charity for that period. In preparing these accounts. the Trustees are required lo: Select suitable accounting poliues and then apply them La)nsistently" Make judgements and esfimates that are reasonable and prudent: Prepare the accounts on ihe going concem basis unless rt is inappropriate lo presume that the charity will continve in Operat. The Trustees are resporFsible for keeping proper aecounting records which disclose with reasonable accuracy al any lirne the finanaal position of the charity and to enable them to ensure that the account5 comply with the Cornpanie5 Act 2006 and with Accounting and Rewrting by Charities.. Stslemenl of Recommended Practice Ichariiies SORP {FRS 1021). They are also responsible for safeguarding the assets of the charity and hence for laking a$able steps for the prevention and deleclitin of fraud and other irregularities. Is
TROPICAL HEALTH AND EDUCATION TRUST IA company Ibmited by guarantee) TRUST£ES' REPORT FOA THE YEAR ENOE031 DECEMBÉR 2023 Each of the Trustees confThi thal.. So far as they a aware there is relevant au(h'l infLvmation of which the tharity's auditors are unaware. and. They have tsken all the neSSary steps that they ought lo have taken as Trustees in order lo rnake themselves aware of any relevant audit inf(*mation and lo establish that the charity's auditors are aware of that Informat. This report has been pyepared in acccKdance with the special provisions of Part 15 of the Companies Act 2006 relaknng to small companies. The trustees have taken the exemptK)n avalable to small Companies and have not prepared a Strategic Report. Approved by the Board of TnJstees on 4 September 2024 and sned on its behalf by Mr Justlnian Ash Chair of Trustees 16
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guaianteel INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF TROPICAL HEALTH AND EOUCATION TRUST Opinion We have audited the financial stslements of Tropical Heafih and Education Trust I'the eompany'l for the year ended 31 December 2023 comprise the Statement of Financial Acbvities. the Balanc8 Sheet. the Cash Flow Statement and notes lo the financial statement5. induding significant accounting policies. The finanual reporting framework that has been applied in their preparation is applicable18W and United Kingdom Accounting Stsndards. including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireknd. {Uniled Kingdom Generalty Aecepled Aecounting Practs"cel. In our opinion the financial statements= give a true and fair view of Ihe stale of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of $rceS, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice," and have been prepared n accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan wth Inlemalional Stsndards on Audiling (UK) IISASIUKI) and applicable law. Our responsibilities under those standards are ftjrther described in the Auditor's ResponsibFlilies for the audit of the financial statements Sect of our report. We are independent of the charitable company in accordance with the ethul reqU1ments thal are relevant to our audit of the financial slalements in the UK, including the FRC'S Elhical Standard. and we have fuFfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient an(J appropriate lo provide 8 basis for (Mjr opinic. Conclusions r•lating lo going ¢onum In auditing the financial statements. we have CrClUdj that the Iruslees. use of the 90ing concem basis of accounting in the preparation of the finanual statements is appropriate. Based on Ihe work we have perfofmed. we have not identifd any materral uncertainties relating to events or conditions that, individually or collectively. may cast srgnificanl doubt on the charitable company's ability to continue as a going concern for a period of at least Iwelve months from when the finaneial statements are authorised for issue. Our re5FtsIlit1eS and the responsibilities of the trustees respect lo wing concem are described in the relevant seth.ons of this report. Other inforniatlon The other information comwises the infcKmatlc iluded in Ihe annual report. other than the financial statements and our auditor's report thereon. The Iruslees are resFonsible for the other information. Our opinion on the financial statements does not cover the other information and. exp1 lo the extent otherwise explicitly slated in our report. we do not express any form of assurance condusion thereon. In connection our audit of the financial statements. our responsitmlity is to read the other information and, in doing so, consider whether the other infomialion is malerialty inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify sueh material inwnsislenaes or apparent tnaterial misstatements. we are required lo determine whether there is a material misstatement in the financial statements or a material misslalement ofthe other information. If. based on the work we have perfom)ed, we conckKle that there is a material misstatement of this other information, we are required lo report that fact. 17
TROPICAL HEAITH AND EDUCATION TRUST IA company limited by 8uaranteel INDEPENOENT AUDITOR'S REPORT TO THE MEMBERS OF TROPICAL HEALTH AND EDUCATION TRUST We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our Lwinion. based on Ihe work undertaken in ihe course of the audit". the information gNen in the trustees, annual report for the financial year for which the financial slalements are prepared is consistent with the financial stalemenls.. and the trustees, annual rewirt has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred lo rew1 by exception In the light of the knowledge and understanding of the MpanY and its environment obtained in the course of the audit. we have not identffied material misstatewenls in the Irustees. annual report. We have nothing to report in respect of the folbwing matters where the Companies Act 20 requires U5 to report to you rf. in our opinion.. adequate acc(yJnting records have not been kept. or retums adequate for our audrt have not been received from branches not visited by us- or the financial statements are not in agreement with the aOnng records and relums.. or certain disclosures of trustees, remunerats.on speCffjd by are not made: or we have not receNed all the information and explanations we require our audit., Of the trustees were not entitled lo take advantage of the Small companies exemption from preparing a Strategic Rewrt. Responslbllllies of trustees As explained mcKe fully in Ihe trustees. responsiblities stslement set tyJl on page 15, the trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the finanryal slatements and for being satisfied that they give a true and fair view. and for such inlemal control as the Iruslees detemiine is necessary lo enable the preparation of financial slalemenls that are free from material misstatemen( whether due to fraud error. In preparing the financial stslemenls. the trustees are responsible for assessing the charitable company s ability lo continue as a going concem. disclosing. as applicable. matters related to going concern and using the going concem basis of accounting unless the trustees either intend lo liquidate the charitable cornpany or to cease operations. or have no realistic altemalive lyJl to do so. Audilofs responsibilities for thg audit of th• financial ststements Our obieclives are to obtain reasonable as5Urdre abwl whether the financial slatements as a whole are free from material misstatement. whether due to fraud or error. and lo issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance wilh ISAS IUKI will always delecl a material misstalernenl when it exists. Misslalemenls can arise from fraud or error and are considered material rf. individually or in aggregate, they could reasonably be expected to influence the econom deasions of users taken on the basis of these financial stalemenls. As part of an audit in a¢ordan¢e wth ISAS IUKI we exercise professional judgement and maintain professional sceplic15m throughout the audit. We also: Identrfy and assess risks of material misstalernent of the financial statements, whether due to fraud or error. design and perfomi audit predureS responsive lo Ih05e risk5. and obtain audit evMJence that is sufficient and appropriate lo provth a basis fry our opnion. The risk of 18
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guaranteel INDEPENDENT AUOITOR'S REPORT TO THE MEMBEP5 OF TROPICAL HEALTH AND EDUCATION TRUST not detecting a material misst31effnl sUItIng from fraud is higher than for ¢ resulting from error. as fraud may involve Co1$11)n. forgery. intentional omissions. misrepresentations, or the override of intemal control. Obtain an understanding ol inlemal witrol relevant lo the audit in order lo design audit procedures that are appropriate in the cirojmstances. but not for the purposes of expre55ing an Opin on the effectiveness of Ihe charilatrAe company's internal control. Evaluate the approFThleness of accounting policies used and the reasonableness of aCunting estirnates and related disdosures made by the trustees. Condude on the appropriateness of the Injstees. use of the going concem basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt cm Ihe tharilable company's ability lo continue as a going (LCern. If we conclude Ihal a maleiial uncertainty exists, we are required lo draw attenti in our auditor's report lo the relaled disclosures in the financi81 slalements or. if such disclosures are inadequate, to modify our opinion. Our ccmclusions are based on Ihe audit evidence obtained up to the date of our auditorfs report. However, future events or condition5 may cause the charitable company to Cease to continue a5 3 going concem. Evaluate the overall presentstion, structure and conlenl of the financial statements, including the disclosures. and %thether the financial statements repsent the undedying transactions and events in a manner that ache5 fair presentstion. We communicate wilh those charged with govemance regardNNJ, among other matters. the planned scope and b.ming ol the audit and signTficant audit firM1ings. inctuding any sNJnificanl deficiencies in intemal control that we idents.fy during our audrt Explanation as lo what extenl Ihe audit was considered capable of deteding irregularilles. including fraud Irregularities, induding fraud. are instances of n(-comlance with laws and regulations. We design ProdureS in line with our responsibilities. outlined above. lo delecl material misstalemenls in respect of legularl11es, induding fraud. The extent to whith our procedures are capable of detecting irregularities, including fraud 15 delailed below. The objectives of our au¢Jil in respect of fraud. are" lo identify and assess the nsks of material misslalemenl of the financial slatemenls due lo fraud- to iJlain sufficient appropriate audit eviden regarding the assessed risks of material misstatement due to fraud. through designing and implementing appropriate responses lo those assessed risks.. and lo resFK)nd appropriately lo instances of traud or suspected fraud identified during the audr(. However. the primary responsibility for the prevention and detecti of fraud rests th trxjth management and those charged with governance of the charitable company. Our approach was as follows: We obtained an understanding of the legal and regulatory requirernen15 applicable lo the charitsble company and considered that the most swJnificant are the Companies Act 2006, the Charities Act 2011. the Charity SORP. and UK financial repo"ng standards as issued by the Financial ReportJ"ng Council. We obtained an understanding of how the chaiitable Company complies with these requirements by discussions th management and Ihose charged with governance. 19
TROPICAL HEALTH ANO EDUCATION TRUST IA company lirnited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERS OF TROPICAL HEALTH AND EDUCATION TRUST We assessed the risk of material misstalemenl of the financial statements. Micluding the risk of material misslatemenl due to fraud and how rt mKJhl occur. by holding discussions with management and those charged with govemance. We inquired of management and those charged with govemance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on this understanding, we designed specific appropriate audit proceijures to identify instances of non-compliance wth laws and regulats"ons. This included making enquiries of mariagemenl and those charged with govemance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described aVe. We are less likely to become aware of instances of non-compliance wth laws and regulations that are not closely related to events and transactions refiecled in the financial statements. Also. the risk of not detecting a material misstslement due lo fraud is higher than the risk of not delecling one sU11ng from error, as fraud may involve deliberale concea1nl by, for example, forgery or intentional misrepresentations. or through collusion. Use of our report This report is maje solely to the charitable companYs members. as a body, in accordance with Chapter 3 of Part 16 of ihe Companies Act 2006. Our audit work has been undertaken so that we mNJht stale lo the company s members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility lo any party other than the charitable company and tharrtable company's members as a t#)dy, for our audit work. for this report. or for Ihe opinions we have fomied. JA LLe Neil Finlayson Isenior Statutory Auditor) for and on behalf of Mc*Jre Kingston Smith LLP. Statutory Auditor 9 Appok1 Sireel London EC2A 2AP Date.. 2610912024
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 OECEMBER 2023 2023 Total 2022 Total Unrestric18d Reslricled Note Income from: Donations and legacies Charitable aclivits'es Investment income Other income 29.670 335.907 783 62.129 29.670 5,254,513 783 62.129 47,583 4.007.729 528 121.638 4.918.6C Total income 428.489 4.918.606 5,347.09S 4.177.478 Expenditurn on: Raising Funds Charitable activities 171.623 564.022 171.623 5.083.187 117.696 4.049,408 4,519,165 Tolal expenditure 735.645 4.519.165 5.254,810 4,167.104 Net incomel{expenditure (307.1561 399,441 92.285 10,374 Transfers bettveen funds 42.315 {42.3151 Ng1 movement in funds {264.841) 357.126 92.285 10.374 Reconcilialion of funds- Total funds brought forward 16a 956.026 1.712.106 2,668.132 2.657,758 Totsl funds carnied forward 691.185 2.069,232 2.760,417 2.668,132 The Statement of financial aclmiies includes all gains and losses recognised in the year. A full comparative Stalemenl of Financial klr¥ibes is presented in note 23. The notes on pages 24 to 34 form part of these financial statements.
TROPICAL HEALTH AND EDUCATION TRUST IA company limited by guarantee} BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Note Fixed assèts Tangible assets 12 2,280 2,154 2.280 2.154 Current assels Debtors Cash al bank and in hand 13 1.163.000 3.729.159 160.757 2.900,090 4.892.159 3.060,847 Liabilities Creditors.. amounts falling due wthin one year 14 (2.134.022 {394.8691 Net current assets 2.758.137 2,665.978 Total net assets 2.760,417 2.668,132 The funds of the charity Restrieled income funds Unrestricted income funds.. General funds 2.069.232 1.712,106 691.185 956,026 Total charity funds 16a 2.760,417 2.668,132 The financial slalernenls have been prepared in accordance *ith the provislQll5 applicable to entities subject to the small companies regime. The financial slalemenls were approve(l and authwised for Kssue by Ihe Truslees on 4 September 2024
TROPICAL HEALTH AND EDUCATION TRUST {A Company limrted by guarantee) STATEMENT OF CASH FLOWS ST FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from op•rating activiti Mèt Cash provided by operating activities 830.4T5 762,308 Cash flows from investing activiti•s: Interest received puhaSe$ oftsngible fixed assets 783 12.189) 528 17531 Net cash used in inv•sling activities 11.4061 12251 Change in ¢a$h and cash equivalents in th• year 829,069 762,083 Cash aTrJ cash equivalents at the beginning of the y 2.900,09D 2.138,007 Cash and cash •qUi1¢nts at tho end of the year 3,729.159 2.900,090 R•conclliatlon of nat mov•mènts In fiMMI to net $h Ilow fvom ¢Jperating activities 2023 2022 Net Incomo for the reportlng perl¢xl las per th• statem•nt of financial acti¥i¢ws) Depreciation charges (Gainslllosses on investmenls Ilncreasellde¢rease in debtors Increaselldecrease} in creditors Interest received 92,285 10,374 2,063 6,294 11.002.243) 1.739.153 17831 1.183,091 1436,9231 (5281 Ngt cash pro¥ld¢d by op•rating activities 830.475 762.308 Cash and cash equNalents comprise solely ca$h * barlt and Thi hand during both the ¢)Jrrenl prior year. The notes on pages 23 10 33 form part of these finawal statements.
TROPICAL HEALTH AND EDVCATION TRUST IA cornpany limsted by 9uaranel NOTES TO THÉ FINANCWL STATEMENTS FOR THE YEAR ENDED 31 0ECEM8ER 2023 1 pollcl•s al Sl•tutory Inlormatlon rropical Heallh and Educcm T 15 a k"mMed ty guaranlee aTrJ is ¥wrKaled In EWTrJ aTrJ w85 and a chaty registered Ihe Chaty Cornrni5sion. The regiSlerEd affice a(#lress ¢thsdD5ed on tt compary w)fo[mal pag¢. bl 8•515 of pr•p•ratlon The finanoal 518teffenls have teen Fwared thjer histcrfical cost coThiton ilems reo>Jnwd at C05t or Iransactmin value unSes5 otherw& stsied in thè rvani note(sl io ttse fr1 5tatemetits. Tr fbantiai st•temwts ha¥ been pw¥ed w) attordanc¢ th the A¢COL¥lling a ReputsrrfJ by ChanlwJ. Stathenl ol Reo)mmeThJed PraC1e aWicat4e 10 Charth5 pryryj th•r acwjnts In accoldar Trmlh Ihe Financk Rep(NtirvJ Starord aWIab in UK arKI Rerth of IFRS1021 (seLu EditiDn. ef¥9 1 January 20191, Finanryal Repo Slandard apF4cab UK ol lrtland (FRS 102) ar¥J the CornwkE5t 2LK6. cl Publfjc benefft bty Trowl Heahh and TAL%t constilute5 a enbty a5 defffjed by FRS 102. Assets IKitrAr•Ès recowised at hisio C05t orlian5aclKfft value unle55 Qltsrwise Staled revarn accwniry poky. ThÈ trvsiee5 have yepaied. dnd frymalty 0pwo¥eo (laW opBrats"rwJ arx1 Cash wopth"on5 covemg the next 12 months t¢ Juty 202¢ On Ihe basis ol these proJethS Ihey have aswsed that tt cnanty has adequats rThno resoLW aThJ strUCre$ in plo¢e to manage rt operational lis$ In JdditK)n. IhÈ budgetrg arKI fwe¢AsWj KXO¢WS has taken attthjnt of thÈ tArnI econtynit arK1 fvryliry rnate and its Poteniir impact on our varityts sources ol aThJ eXprte TtfLIe. ts bustees are ccthl Ihai Ihere is reasonats elpedaon that the Charit has adequate reswrces and tontrd mechanisms lo exislewz for ts foreseeat4e d. on basis the INstees beIvE lo the 51 of ibew beef 3Trl kno%•dge. Ihai the Chanty f•mai as a gcwj Con for a pentrj of ai leasl 12 months from the approval of the& finantia Slate$ aTrJ. a¢¢ord¥Jty. ty%se finwial simats h•¥t l>een wepartrj 9tyrYJ b88b. come B rewmsed the chariTae compary has to ts fLf#Js. rrformance corlhh)ns altachèd lo the income have been mel, i% pr¢bable Ihal the Income be received and thal •m(wt un be ased rekatyy. WIEn IrKome is reNe advan of pro¥k1iny Se1. it i% deferred uniil THET bgccrfnes enTri 10 thèi iTr. Drffiatiws arn recogni8al In Ihe s1alemenltr]al in are rec¥ed. th¢ recognhits) uiteria sol out abovp are mei 818n e8rfrdat0. For garJe5. enlitmeni laken as Ihe orthe date wtsr.. rhwty is aware thai proba has been graJ. the esiaie hgs be8 finalised and nolifiotion h8$ been made by the exeartoitsi to THET that 3 d15b7>Th be made, N lul a distribution is received frorn th, •stste. Receipl ol a le9acy. in %thobE or part. ts corbsKJered wobable anwnl can be measwed fdiabty and cahty has been nou.fi oflhe exec10$ Irtent to make 8 Wtsre gat7Ès rthe bten to the thanty tythe i% aware ollhe 9ranling of probate. an. Ihe cJitEria lor Irorne rec(8rlh)n have nc4 teen m. tlEn its gaLy 15 treated as a COMiryeni asset afyj dtsclosedll materlal. (>ants •re I)d¢ $tam¢rt of finan0 a Trceivaljle ba515. bal ol TNe for sFeofK purposes but n( expended durin9 IhE Sh in the rvont IL¥)Js S1. Wh vs rpceNed in ad¥arKg of pnlilknmgnl of receipt. 11 recognibon deleryj aThJ irKJLMI in LYeditor5 as defeTh•J entiwement ocoJr5 belofe is receNed. the Income i8 8ccrued. Donated prof8ssional ¢Jonated are Tr0>JrMS as cthnty has corAml Osw ts item. arry uJThJitions assoc4at6, Ih Its donated Ilem ha¥e been the wi of ec¢j benèfrt trom Ihe by ts tharty of the ftem 15 probab and Ihal ¢conomiE benEfiI ca be measured rdwbty. cth re(ipt. d(at¢1 prolessional seM¢es arnj donaw f&?W$ x rtcoynwl M Ihe bays of ¢he ol Ihe grft of the chanty is amo ¢he thanty would teen lo pay 10 obtain ser¥K8s offxs of11¥al8 ecfjncffj beneft )n fv open market". a ¢•rr¢spon(thng amount I then re¢oyni$ed in ewditure IrE per of recert In accordarKe th¢ Charths SORP ffR$ 1W. IFdated s¢r¥w frr)) Mgewal YrJNfrt¢Ws atE rN)I within Il finandai stawnw. Other InCre 15 recogniged FWK¥J s retti¥able to Ihe gocrfJ5 have been Fyovpjed or on complelbjn oflhe seNKe. n Fund aceountlNJ Resthrted Iw%is we to be use¢J for speofic kxbTrc6es as by the ¢>yby ha¥e been ra ty the Charty for pwbcular puooses. Th, C051s of ratsing and adMlStra"w suth fid$ offt tharyed aga•1 tr speti fi. The am a1 us• of ••¢h Rstricted is $•1 ou¢ in the nolets t the financial 51atemenls. In¥estment ir%thme. gairts and losÈes we alic0 10 ts ¥w¥piiate fLwbJ.
TROPICAL HEALTH AND EQIKATION TRUST IA Company limited by guarartsel NOTES TO THE FIM4NCIAL STATEMENTS FOR ThE YEAR ENDED 31 OECEMBER tr23 1 Accoufitlng pofictes Icontirn q) Expondllurn and 1rrnCornb1• VAT ExpeThJiiwe ts retogniwj ¢w te is a kgal or CO1nj(thYe (al EO make a Pa to a third party. il is wtsbab Ihai 5ettlema)l b required and the amowl offv iaknon can be Measu rdwbty. 05ts of charilable admiies art costs appked by It Ch¥Y wKIErtaknry a(kniry rts tharilab objec1N. as opp05Ed lo ts cog of rnlsirJ funds to finance those objeiiw. Non4Jirecty allriouiabie ¢osts are alkncatea based w an estimats oitrne spent. Expenditure on ravJiry fund5 relate lo costs Irwed by ihe charitable CfffiPWV to fvjr Is thorie wwses aTrJ irtk#Jes cos15 of 8 fundrai$ir¥J athityes events rarli•e ty. &¥pendrture on chariiablÈ aclwities It tosts ol dke( uThJertakn"NJ a( 7Athcn wrr¥xas aThl objiv¥es or the thadlab ccrfnpany, arKI Iheir assocKqted sw)port costs Gw15 are included in tts 51aterrvrt of fina1 acths as b bec pay8tle. THEfs abiW to make grarf payments is enlirefy depeThJenl o ndirrfJ IFCDO. DHSC. FEE. JohrLg(ffi & jo0) Ihe cJxrtrntts that are the to annual In the opinion of th8 truslees, . 51rucb¥e oblgaiH)n rJeal811 en Q ¢yMJoty4 gwt are W fiJlfil aTr1. 117 o)ntrats renewal has been succes$frJlty negolial wSth drf1erentgnt£rfs. Ie¢O¥er8ts VAT i targed as a a9•n4ttw ¢xpwwo vas iThJmd. hl Ajlocatlon olsupport costs Expendilvre is allcraled lo Ihe parliojbr tsre tt c05t rels direcityto Ihat acimty H¢yA¥v. the cos1 of o¥eW direclion and adminislralio oleach athty. MPrIsIng saLiry aThJ ¢wertad costs ofts ¢Èntsai apponbw on bag$ are an e$timai¢, ba$e(I stsff lime. of the arno1 attributalHe to each actswty There abo ts s. obiecttves aThJ proJed5 01 b)e cunparty is pThthJ 10 F)al benefiL¥aries. IhÈ o)sts associated Yril thLs publw are alocaled 10 charitable expvJrfu Support and govemance LY)Sts we le-allated to eath tr basi& an •Slimate. based on slaff tirn¢. oflhe amour anfit¥Jtable 10 eaekn a¢Xivty. Govemanc Costs are the costs assctiated YA•th w%mante tharilablE cryhpany. These costs are a$5Daaled %it ctsistilulv)nai arKI 51atthory m9[¢11$ a(ry t4515 a550rJaled th sWgic fflanagemeN of the chariV5 11 FO9 Curr•n¢lg Monetary8ssets and liatrj'lrtes dencminated in Lxfftnties are trayokted ¥btO Slth'ivj ¥ r•te5 of ex¢)lange nAirrfJ att repryt9 da. Tiansaclons forevjn (W7?S ¥)to stj ai thè r ftthvj dats Oftmns. Tanglble fix•d •ss•ts TorvJible ass815 £XQ N mrye are car¥ted recoyni5ed 4then befits we probatle and the costs can be mea$w• re"atsty. Oewetyatim ¢osts are allotrated 10 aciNth5 on Ihe basL% of li we of t reL4ed assets in ac11lES Assets are rewed impament cwDJmslances Indicate th¢ir carryry Yahje may exce ne1 altsable and use. CpNe¢i"w at Bte5 rJJated to ¥rfe ¢J[ tre oJs¢ of eath asset lo ests"ted res•Yuai ¥aUJe over its expected useful Ilfe. Th depwalpjn rates in use are as lokn Ctynputer Equwment 33% straghl kl LLgbilltl•s amd provFsion¥ Creditor5 aThl provisn5 are recoyni5ed tsre th8 chitate compary has a pent Ottyalty re5th frryn a past event that %ill probabty re5uII i the transfer of funds 10 a Ihird paty ano the amothi due to sett the owation can te measLWÈd or estirTraied rekna. Credrtor5 and provision$ ar, nixmalty recognised al thar seltlement amw aftw aMrAwwJ trade th"SclIS d. l) Finan¢i•l Instr¥rn0fits The Chanty onty has finarKJal a55et5 aTrJ finala1 Iiab"liis ol a rj Ihai wa6fy as basic frnnc4al knsiNmerts. 8a5 knstrumerts are irtiall recogntsed at Iransathm Yalue aitrty'r se¢tyEmer4 vai*.
TPOPICAL HEALTH AND E0VCATI TRUST IA eompww lirnrteo by guane) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 tECEk48ER 2023 Accouniing poli¢i••1¢0rt6nwdl ml P•ntsitins THET operates a defmed cciIiHn penw the bengfit o151aff Th thaiitable crynys conlriLxJlion charyed lo the Slatefflent I Fknanclal Athvitses In ts knnoal year. The Laritab CLryarry has no hat4ty urthr ts Scme other than lorihe payment ollhose wNribulion$. nl ¢r6tlcal acco1n4 0Stlm4t•¥ arnas ofolfvdgwrwt EsDmales and j4vJgements are cwlinuak evabJaied arnj are based aThJ otrw fatknrs. induding eypectatKJts of lulure evenl tt are Wie¥ed to be ieasonaw¢ Wder CXCLU•¢oS. Critrtal accourtry e4imai¢$ 4Th1 •ssurWwo.' Chaity rnaK 8$1in¥te$ y ¥5Sumpt ojncwyg ts thjtwe. trth"rJ 8siimates aTrJ asswnpfns ill, by defin"On, sebJc equal Ine reIe0 aeiual Su1. In oi¥nth of trustees art rvtver rrf) estNnates arhl ¥ssull4JiK)ns that have a 9¢artt fisk of causlng. malerial adjustrneni to Ihe cwTrin9 amowts olassets and liabiliiS ¥•thin the anrOl year.
TROPICAL HEALTH EDUCATION TRVST IAtLMnpany limited by guarante81 NOTES TO THE FINANCWL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Total Fund& 2023 rotal Funds 2022 Oonab'ons Le9aoes 29.670 47.58 29,670 47.58 IneomÈfr•m CliEb actsvth8 unre$trtd Rèstri¢1Od 79ts1 Fun¢$ Funds Funds 2023 202J TO1 Funds 2023 2022 Programmes & Ptoiacis Management fee 7.367 328.540 4.918.fJJ6 4.925,973 328.540 3.647,74f 359.98: Totsl 23 335.gJ7 4.918. 5.254.513 4.007.72 Total 2022 4.007.729 4 In¥•sbnent fnem Total Fund$ 2023 Toi¥ Funds 2022 In¥estrwrt irK(The. 783 S Olh¢rintom Totsl Funds 2023 Total Funds 2022 Confewce fees 62,129 121,83 l other cOme was re$Incted omnl 8rvJ wevKWsar. $ Exndr• an TlYffj funds Costs of rn18lng voluntsry Inttym• Tolal Fund5 2023 Total Funds 2022 otherdirect costs Direcl salares Alk)caied cenwany iwmd finyjrals4 go¥mKe (#)sts 6.352 71.266 42.898 17.5 54.47 23.78 120.516 95.8Z Fundral8ln9 ¢radlng pOnS•S 1Th1irÈct saiies 51.107 21.87 171.623 117,69 Al costs of rw%ng vckn¢ *re al¢ted wwestrxled Ws both tr ard >•¥.
TROPICAL HEAITH AJ4D EDiICATHY4 TRUST IAoJnp8ny Iwnil¢d bygL4w&ilee} NOTES TO THE FINN}4C STATEMENT5 FOR THE YEAR ENDED 31 DECEM8ER 2023 Ir¢iUrth?n$ 20Z3 Totsl Ftsndg T¢yal Funds 2023 zozz 1.524,908 564.729 yo1 2022 $61,729 564,729 2023 P#Jderrooke's ChantatleTvJ5t F8(wlty of pu1¢ He8nh Royal Cc4 of Paedth5 ar¥J ClbJ HKlh 141.828 I,$42 109,3 io3.oiJ 98.680 64,370 $9,175 57,770 $3,J65 50,531 colNe Rese¢ & TThrJ cffj t•Wl ICRTOAJ rJh8m Treni VrM¥¢rgty Health Board 871.694 653.214 1.524,9D 8 of•Apen¢lit¥n tyy •¢llvth GArtfunding supp activities direct Total Funds Total FLnts 2023 2023 2023 2Z Programmes & PropL5 2.994.257 3.558.279 3.404.679 564.729 1.524.8 2.994.257 I.$24.& 5.083.187 4.049.408 T¢4al 20 3.210.766 $64.729 273.911 4.049.408 ol dli•acos15 Tirtal Fund• 2023 Toial Fund$ 2022 1.214.962 1.779.295 1,Z43.740 1.967.028 2.994,257 3.210.768 Tolal 2023 Total Funds 2D22 Stsff eogls 305.639 16,905 240.478 131.T28 17.003 113.993 11.667 Rent and rates 584.022 273,911
TftW¢ALHEAtTh Apme(wJrth NO7ESTOTTrÉ FIP4AICIAL STATEKEt4TS FOR ThE &FIDEDJI DECEIA8ER 2023 2J 1,$21.lUS 1.31D.T31 I15.. 47,¢6S 1A4a1Y 20 £fy).rKo. t69.y £70.DJI-£79.999
.WO. E9g.9BY tIQD.OW-£IC.g 392J Nu. 47 12 T•nWt4•flx•04•1• ¢offlpr f.DJ4 2.189 AtthEerdrfh•J4t 2&, 2•M•I Z.(¥3 Jl, P4if0k 2.2 A•ltJ1 D¢¢mb•riL 2.154
MOTESTOTHE FINAPKL STATEIEtn5 FOR The YEAR EII(EO 31 OECEMEER IQYJ 13 Dekn¥ •U750 n.613 1$7 l>J.110 38.1et 180.7S', 22 0.7T.' 11G.JGU 1.71J.1JO 1134M22 IS Dvlpryd IrK•m I,h4lJa At J1 DpFrymbvi 1•16 SlJl¥ 11.9JY.6921 .$7% 241.782 1.9 1281.780 {9,1ts1 NHS Y7.4 (67.fffjl 1146.0191 113. 118,679) 157.9 1143.É11 21339.. 13J.28F I.8$) IJJ. 1372.SJJI 132J,439) ¢£9, 10.750 J12.fj03 43.38.. FCOO.UK FtrfIiKFj EU Swièpr¢R NQIP 4DJ.IIP 79,7 SknJDLAG. 18,3% 75,8 .2371 1.7111tlS 4.91& 14.$19.16$1 142.$1$1 •t.31S 42.31$ 2.Wl J17.QP5 1*2Y.8101 176141.,
TALWl ETrJCITify4TRUST P40TESTOIHE FINAL STATEIIENrs FOR THE YEAR E0]I Uf¢EMFER lOtJ Atjl D•ts 210.7J .2331 100,01. Gb41 WethPBrlWiP. pTAlkErwfj Th• 1fy.JZ ILb).B33 115.$3JJ 691.527 I1561•1 5Z315 651.447 .4921 (6i.6SZJ I.791} 152W) 1253,5SJI 1irfi,19Jl (7.292) 275 209.061 157.9 FAthJS ChartsT$t. sun17 719070 49.NS S•nty)tAts.trvarfSrd 1¥234 9B.ts57 .0741 (o.wi 403.17 155,SXI UNICEF 155.655 1.341 JofAMonFAvth5¢Cy1S¥eD) (234,1231 15.11 202.13( Fcfy). UKInmNEIhFlrf{l 1141, 2.LWS.tr)J .1 rJ.7PS,4451 251.n 1,712.1 534.311 251.&7 T471il 1.7J5 SY.311 11.W71 251.7 2.657.7¥S rfthoCOVID.19 20Z2 thAty2022 4 £461 Ph15• 2 L OHSC Hh I££) 5*4 3016 MEE Fo - FW4P
TROP HEALTh AF4J E71£4 ThJST wwlopl IESTODE FINANCI STAIEMEWTS FOR THE YEAR ENDED J1 DE¢EFA8ER2023 RIMP Fw AG.Nty+¥hs . NItÉF 2023 rur Totsl 2280 81)4 2.24T .7M.1J-. 2C69.232 2,15 953,fjT2 2.15 2.W.•71 1.712.1 TaLIl
TROPICAL HEALTH AND EDUCATK)M TRUST (AerJmpw rimit bYrantee) NOTES TO THE FIIIANCW STATEMENTS FOR THE YEAR ENDEO 31 OECEMBER 2023 17 Leyal status of th ¢h•rit•tyl• ¢orwDy to £1. 11 Capllal Comfflilm•nts 11 Penslon commthenls lThYertr11IY 8dNMniitrJ Ttr ¢ost ¢hyge P8yablE th2 Chth to fund and arThxrfed to É66.20B {kl)22' £60.9111. E8.861 12022. £7.0761 was payeiotr fynd at the b3r sW¢Jate and 1$ w4wJ8d In (y&lrtors tri ltr s 20 Funds Mld x lnt4fflry ag4nt 8•l•rrte It i Jaou¥ry 2023 rn¢oipwwyments Z023 BJkin¢? held at 31 December 2023 Yrew QL4y Lrths Lusakb Vei? 881y- TA Veta &b•y. {1.5251 1.267 18.2091 872 4.502 18721 9.047 16.0701 2.977 8al•r•¢• h•hl •t31 OKemb?r 2022 1 j•ry 2022 2Q2Z ArKJrewQuay nks Lusaka Veta 8ai. TA Veta Baikny- ET 1.69) 3.235 4.OLY) {872} {8721 3,502 S.$45 9,047 And Quoyle Llnks Lusaa Thesefibid5 arn bre hdd by THET C t[claInk bemwi LLtsaka'$ Ijthwsty TeuNJ Uni¥et8 Hcwa V•la Bailry TA V•ta Ball•y ET unwersrty of Styjknarpton. 21 Post Bance Shtet E¥nts 22 Rdd party V•¢1¢S Jus1hikASh, a ofTriwA H•thaThJ EdTr aTrJ Trvsis Frnxw Trwt t)LffiW ye ctsiity teci¥ed gpnts totkr4 É337.2791fc¢n Lryar05&rffj. DatsO1 ¥9 in 16. Thern ¥wre no her fvWyif8ns 2023 {2022. Pkni.
TROPICAL HEALTH ANO EDUCATION TRUST IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 23 Comparnve Stst¢nwrt of Flnancial Activhles (year ended 31 December 2022} Unrestricted fvnda 2022 Restricted funds Total lunds 2022 2022 No Income from.. DonalM)ns and ga¢ charitab acb¥itie5 Investments Olher Income 47,583 364.562 528 121,638 47.583 4,007.729 528 121,638 3,643,167 534,311 3.643,167 4.177.478 expendlture on: Ra¢sing Funds Charitaue actwibes t17.696 273.911 117.696 4.049,408 3.775.497 Totsl expenditure 391.607 3.775,497 4,167,104 Nel {•xpendltureVlncome 142.704 1132,3301 10.374 Transfefs beh4een fvnds 16 251,567 1251,5671 Net movement in funds 394,271 1383,8971 10.374 Reconcillatlon ol fund5: Tolal fund5 broughl forward 561.755 2,096,C*J3 2.657.758 Tolal fvnils Carried loard 956,026 1.712.1Cfj 2.688.132