The U Foundation helpifig OttsiRt:. he tht¥nseltres Annual Report and Financial Statements 2024 Charity Reg No: 1113133 Company Reg No: 5570327
The U Foundation Annual Re ort and Financial St nts 2024 Contents: Page no. Reference and Administrative Details Structure, Governance and Management Objectives and Activities A Message from the Board of Trustees Achievements and Impact Fundraising Looking ahead to 2025 Financial Statements and Review 10
TrusteeslDirectors Mr R J Beare Mr H Chikhlia Mrs S L Elton Mrs B A Fletcher Mr C Gwillim Ms S Thomson Company Secretary H Chikhli8 Accountant JCR Bookkeeping Services 21 Kingsway Leicester LE3 2JL Bankers Barclays Bank PIC Town Hall Square Leicester LE19AA Registered offlce BVM House Trinity Lane Hinckley Leicestershire LE10 OBL Reglster8d number 5570327 Charlty number 1113133
Trustees Report for the year ended 31 December 2024 The trustees of The U Foundation Limited, who 8re also directors of the charitable company for the purposes of company law, present their report and the unaudited financial statements for the year ended 31 December 2024. TrusteeslDirectors who served during the year: Mr R J Beare Mr H Chikhlia Mrs S L Elton Mrs B A Fletcher Mr C Gwillim Ms S Thomson Structure, Governance and Management The U Foundation is a charitable company limited by guarantee. It was incorporated on 21. September 2005 and gained charitable status on 01 March 2006. It is governed by its memorandum and articles of association and is registered with the Charity Commission tor England and Wales. The trustees (also known as directors under company law) are responsible for the overall governance of the charity. No trustee receives any remuneration or has 8ny personal financial interest in the charity's work. Trustees are appointed atthe Annual General Meeting {AGMI and meet quarterlyto conduct the charity's business. They are committed to upholding the aims and objectives of the charity in accordance with charity law. The day-to-day management of the organisation is delegated to the Charity Administrator. The trustees confirm that they have referred to the relevant guidance provided by the Charity Commission in fulfilling their responsibilities. The charitable company is limited by guarantee and has no share capit8l. In the event of the company being wound up, members are required to contribute an amount not exceeding £10. In the opinion of the trustees, given the structure of the charitable company. there is no ultimate controlling party. Objectives and actlvltles The purpose of the charity is the provision of relief from poverty, sickness. 8nd distress, in particular on the continent of Africa. The principal aim is to provide the tools to educate and empower communities so that they can develop sustainably. The main activities include the ongoing support and development of specific rural schools, pupil sponsorship and the provision of clean, safe water.
Public benefit The U Foundation is committed to delivering clear public benefit through all its activities. Its programmes improve access to education, support children and families, and strengthen local communities ensuringth8tevery resource used creates a lasting positive impactforthosewho need it most. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities. Risk management The trustees have estabLished a risk management strategy which includes regular reviews of the risksthe ch8rityfaces. Systems and procedures to mitigate those risks have been implemented. designed to minimise any potential impact on the charity's operations. Review of actlvltles for the year The charity reported a deficit of (£24,512) for the year {2023): {£38,954). The detailed results are set out in the attached financi81 statements. Reserves Policy The trustees aim to maintain sufficient reserves to enable the charity to continue its activities for a period of approximately two years. Recognisingthat the fundraising landscape is evolving, the trustees will keep the reseNes policy under regular review to ensure thatthe charity can meet its long-term commitments to existing programmes. Small company provisions This report has been prepared in accordance with the provisions in P8rt 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved bythe board on 12 September 2025 and signed on its behalf. Mr H Chikhlia Trustee (Director) The U Foundatlon Limited
A Message from the Board of Trustees At the heart of The U Foundation's work lies a simple belief.. education is the most powerful tool forbreakingthe cycle of poverty. Despite risingcosts. the charity remains steadfast in its mission to empower communities through education. Our progress is only possible thanks to the dedication of our tiustees. to whom we are hugely gratetul. Their commitment and hard work form the backbone of everything we do, ensuring decisions are well-informed and our mission remains strong. Maintaining regular communication with the organisations we support remains a priority. In 2024, our partnerships in Zambia continued to grow. creating lasting impact for children, families. and communities. In May, two trustees travelled from London to Livingstone to spend a weekvisitingthe village of Si8nk8ba. gaining a deeper understanding of the evolving needs of the community and school. As 8lways, their travel was self-funded, with some additional support from sponsors. During their visit, trustees reviewed the school's operations, teaching, and facilities, observed classroom activities, and met with staff. They assessed howthe school is deliveringthe Zambian curriculum. completed staff appraisals, and reviewed contracts 8nd policies to ensure clarity and support effective school management. Site inspections confirmed th8t school buildings and teacher housing are generally in good condition. with some maintenance needs and planned improvements. Meetings with staff and local leaders strengthened community relationships and provided valuable insight into local priorities. The U Foundation is committed to delivering clear public benefit through all its activities. Its programmes improve access to education. support children and families. and strengthen communities. ensuringthat every resource is used to create lasting posvtive impact. As 8 small charity with minimal overheads. The U Foundation ensures that funds go directly to projects on the ground, maximising impact and m8intainingtransparency and accountability. We extend our heartfelt gratitude to all supporters, whose generosity enables us to provide vital education, empowerment, and opportunities to children and communities in Zambia. Sarah Elton FounderTrustee
Slankaba CommunityTrust, Southern Province, Zambla The Charty's prim8ry focus is its partnership with the rural village of Si8nkab8 in Southern Zambia, a community where homes are built from mud and lack access to electricity or sanitation. Over nearly two decades, it has built strong, enduring relationships within the village and remains deeply committed to supporting Siankaba and the wider area forthe longterm. The following section highlights the year's key achievements, ongoing challenges, and future priorities. Education Slankaba Community Trust School: Continued to maintain this fully operational primary school with essential facilities, including electricity, running water, and daily hot meals for every child. In 2024. the school enrolled 186 pupils, demonstrating strong community trust and demand. Staff Excellence: Maintained a qualified and dedicatedteam of 10teachers {9fullyqualified) and 2 maintenance staff, ensuring high-quality education and well-maintained facilities. Parental Engagement: Strengthened community involvement through an active PTA. fostering meaningful parent participation in school activities. Academic Achievements: Secured secondary school placements for all Grade 7 leavers: 2 at Kazungula Boarding School 8nd the remainder at Day Secondary Schools in Livingstone or Mandia Second8ry School. Achieved a 100 % pass rate for the Grade 7 cohort in 2024, earning a commendation and special recognition from the Ioc8l authority. Infrastructure Classroom Expansion: Constructed 4 new classrooms, replacing a sub-standard block. bringing the total to 8 fully equipped classrooms. The youngest students successfully adapted by using the canteen area duringthe transition. Sanitation Improvements: Built a new toilet and shower block to meet local government standards an(18ccommodate the growing school population. Maintenance Excellence: Implemented a proactive maintenance action plan, ensuring long-term durability of school facilities. Programmes and Student Support School Feedlng Programme: Delivered 37,600 nutritious daily meals, improving student attendance, supporting learning outcomes, and alleviating household food burdens. Girls. Club: Empowered female students through workshops, mentorship, and life skills training in leadership, health, education. and gender equality, fostering confident, informed young women. Sponsor a Chlld Programme." Provided criticaL support to vulnerable pupils, securing their education and long-term well-being. Unlverslty Sponsorshlps.. Supported tertiary education for two former pupils, now studying Banking & Finance and Business & Marketing, demonstratingthe school's lasting impact on students, futures.
Grade 8 Sponsorship Programme." Enabled smooth transitions to secondary education for pupils requiring financial assistance. ensuring continued access to quality schooling. Challenges Load Shedding: Limited electricity affected the school pump and water supply. impacting sanitation and the school garden. To address this, additional water storage has been installed. Cholera Outbreak: Schools opened a month laterthan usual due to an outbreak of cholera. A challengingtime for staff and pupils with difficulties covering the curriculum. Statf retention and salaries: The school employs fully qualified teachers to ensure high educational standards. While salaries and allowances are not 8Iw8ys at government rates. we strive to offer competitive pay to retain skilled staff. This ye8r, three teachers left for government schools, highlighting the ongoing challenge of retaining good staff to give pupils the best possibLe education. D8velopmont and Growth Future talent: Bridget, a former pupil, returned for a paid internship and plans to pursue an Early Childhood Diploma. hopefully qualifying as a teacher. Educatlonal Standards: We remain committed to employing fully qualified teachers to maintain high educationalstandards, ensuring children in rural areas have access tothe best possible education. Garden Expansion: Extra space was allocated by a local farmer, 8llowing an expansion of the school garden.
This year, the charity did not organise any major fundraising events. However. our long-term supporters continued to make a significant impactthrough annual initiatives, including multi-day walking challenges and themed dinners. In addition, the annual fundraising drives raised funds to enable the pupils to enjoy a Christmas p8rty and a significant contribution towards the feeding programme. The Sponsor a Child programme remains central to our fundraising efforts. It helps cover some of the running costs and supplies. while ensuring that vulnerable children have access to the education they desenie. Each sponsorship contributes not onlyto the growth and stability of the Siankaba Community Trust School but also to the long-term futures of these children. Despite the positive impact this brings. we are strugglingto growthe programme. As fundraising becomes increasingly challenging, the charity has decided to engage a professional grantfunding companyto support the prepargtion and submission of funding bids. The U Foundation's principal aim remains to provide the tools for education and empowerment, fostering sustainable development in the communities it serves. Its primary focus continues to be the Siankaba Community Trust School. reflecting 8 long-standing commitment to this community. In 2024, 8 major investment was made to rebuild four classrooms, a significant financial outlay. With the main schooL infrastructure now in place, future efforts and resources will focus on running costs, ongoing maintenance, and pupil sponsorship. ensuring that the school can continue to deliver high-quality education and support foryears to come. Raising fund5 has become increasingly challenging due to rising costs an(J 8 competitive charitable landscape. Despite this, The U Foundation remains committed to its mission. relying on the generosity of supporters and the dedication of its trustees to ensure that resources continue to reach the communities and children who need them most. Looking ahead, The U Foundation is excited to continue growing its imp8Ct, creating opportunities for more children and families to thrive, and ensuring that education remains a powerful toolfor18Sting ch8nge.
Overview For the reporting period. The U Foundation's income tot8lled £46,936 plus an additional £2.415, as Custodian Trustees, compared to £92,885 (of which £4,670 was as Custodian Trustees> in the previous year. Expenditure amounted to £71,448 (plus £2,415 as CustodianTrustees>, compared to £131,839, which included £4,670 as Custodian Trustees in the previous year. This resulted in a deficit of £24,512 for the year. The charity's cash reserves stood at £139,933 atyear-end. Income General donations were slightly lower than in the previous accounting period. There was a residual income from the Four Countries eventthe previous year. Otherwise, the charity held no direct fundraising events. The Sponsor 8 Child programme brought an income of £5587, a slight reduction on the previous accounting period. Expenditure The total expenditure amounted to £71.448, the majority of which relates to grants payable. Of this, £64,925was paid tothe Siank8b8 CommunityTrust, £44.907 to cover school running costs, £16,865 towards capit81 expenditure and £3,153 for pupil sponsorship. In addition to general administration costs {£1,523, including insurance and accountancy), the only other significant expense was £5,000 for a professional bid writer, engaged to help increase revenue from other grant funders. The charty administrator's salary and expenses are covered by a local business, heLping to keep overheads low. Funds held as ¢ustodlan trustees on behalf of others Atotal of £2,415 of the income was held byTUF as custodian trustees on behalf of others during the accounting period. 2775 was received on behalf of Conservation South Luangwa {CSL), whose mission is 'to work with community and conservation partners in the protection of the wildlife and habitats of the South Luangwa ecosystem,. As restricted funds, these donations were communicated to CSL and documented throughout the year. These monies were transferred atthe end of the accounting period. £1,640 was received on behalf of Time and Tide Foundation to be ringfenced and held as restricted funds towards their Kapani School Project in Mfuwe. Time and Tide Foundation 'aim is to give education to children who would otherwise not be ableto goto school,. These funds were transferred duringthis accounting period. 10
Independent Examiner's Report to the Trustees of The U Foundatlon Llmited I report to the trustees (who are also the directors for the purposes of company law) on the accounts of The U Foundation Limited for the year ended 31 December 2024, set out in the following pages. Respective responsibilities of trustees and examlner The Charity's trustees are responsible forthe preparation of the accounts. The Charity's trustees considerthat an audit is not requirecl forthis year (under section 14511 } ofthe CharitiesAct2011) and an independent examination is needed. It is my responsibilityto: Examine the accounts (under section 145(3)(a) of the 2011 Act); to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(51(bl of the 2011Act); and to state whether p8rticular matters have come to my attention. Basis otthe independent 8xamlners' report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and 8 comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking an explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the viewgiven bythe accounts. Independent examiner's statement In connection with my examination, no matter has come to my attention: i) which gives me reasonable cause to believe th8t in any material respect the requirements to keep accounting records in accordance with section 130 of the Charities Act 2011; and to prepare 8ccounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2011, have not been met; or ii) to which, in my opinion, attention should be drawn in orderto enable proper understan(ling of the accounts to be reached. JC Re8d BA{Hons) ASIP Dip PFS JCR Bookkeeping Services 21 Kingsway Leicester LE3 2JL 12 September 2025 11
The U Foundatlon Llmited Statement of Fonancial Activities forthe year ended 31 December 2024 Notes 2024 2023 Incoming resources Income from charitable activities and generated funds 46,936 92,885 Resources expended Fundraising and direct charitable activitAes Costs 71,448 131,839 Net incoming resources 24,512 38,954 Other recognised gainsl(losses) Net incoming resources for the financial ear 2£512 38,954 12
The U Foundatlon Llmited Balance Sheet as at 31 December 2024 The directors are satisfFed that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the companyto obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respectto accounting records and the preparation of accounts. The accounts have been prepared in accordancewith the provisions in Part 1 S of the Companies Act 2006 applicable to companies subject to the small companies, regime. Notes 2024 2023 Current assets Cash at bank and in hand 139,933 165266 Current LAabAlities Net ellrnt assets 139,933 165,266 Net assets 139,933 165266 Reserves General Accumulated Funds 139,933 165,266 Net funds 139,933 165266 H Chikhlia Direct4)r Approved by the board on 12 September 2025 13
The U Foundation Limlted Notes to the Accounts for the yoar onded 31 December 2024 1 Accounting policles Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A and the Charities SORP (FRS 102) -"Accounting and Reporting by Ch8rities" issued by the Charity Commissioners in England and Wales. Income All incoming resources, including donations, gifts and grants, are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income receivable under gift aid includes the related income tax recoverable. Investment income comprising interest receivable is included when receivable. Expenditure Expenditure is accounted for on an accrual's basis, inclusive of the irrecoverable VAT, which is aggregated to the cost to which it relates. Fund accounting Funds comprise unrestricted funds which are availabLe for use at the discretion of the directors in furtherance of the general objectives of the charity. Taxation The charity is exempt from corporation tax on its charitable activities. Foreign ¢urren¢les Assets and Liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling on the date of the transaction. Exchange differences are taken into account in arriving atthe operating results. 2. Debtors 2024 2023 Other debtors (Irrecoverable debtor) 3. Creditors: amounts falling due wlth5n one year Other creditors 4. Generalfunds At l January 2023 Surplus(defiat) for the year Irrecoverable debt (other) Exchan e Rate conversion loss 165,266 -24,512 -822 A8 at 31 December 2024 139.932 14
The U Foundatlon Llmlted Income and Expenditure Account forthe year ended 31 December 2024 2024 2023 Incomin Resources Resources Ex nded 46,936 n,448 92,885 131,839 Net Incomin Resources 24,512 38,954 The U Foundation Llmlted Schedule to the Income and Expenditure Account for the year ended 31 December 2024 2024 2023 Incoming Resources General Donations (note l) Fund Taising events (note 2) Bank interest 41.760 3,213 1,9&3 46,936 47,349 39,250 1,616 88.215 Other income as Custodian Trustees Time & Tide 1,640 775 3,020 1,650 CSL Re8OUTces Expended Fundraising activities (note 3) Grants payable (note 4) Accountancy and administration fees Bank charges Jnsuran 19,155 106.265 69 64,925 89 234 114 577 895 Bid Writing Enthuse Online Charges Misc (WebsitenD 5,000 479 360 144 311 71.448 127,169 Other Expendxture as Custodlan Trustees Time & Tide 3,020 1,650 CSL 775 15
The U Foundation Limited Schedule to the Income and Expenditure Account forthe year ended 31 December 2024 2024 2023 Note I . General Donations Donations received Gift Aid income tax Sponsor a Child Online Platform sales Siankaba 8,381 834 23,732 9,038 5,766 312 5,587 127 22,310 4,006 515 5,451 Siankaba Xmas Calendars 374 41.760 47.349 Other Income received as Custodian Trnstees Time & Tide 3,020 1,650 £670 CSL 775 1415 Note 2 . Fundraising Events Four Countsies 3,213 39,250 39.250 Note 3 . Fundraising ActivitÈe8 Four Countrie5 19,155 Note 4: Grants payable Siankaba Community Trust- General running costs Siankaba - Capital Expenditure 2024 2023 44,907 16,865 37,030 55,686 Siankaba- Pupil Sponsorship 3,153 2,553 10,996 106,265 Mfuwe- Bore Hole 64,925 16