REGISTERED CHARrfY NUMBER: 1119647
Report ol the Trustees and
Unaudlted Financial Statements
lor the Year Ended 31 December 2020
THE COMMONWEALTH EDUCATION TRUST
Haines Watts ICAtyl LLP
New Donwent House
69-73 Theobalds Ro
London
WC1X 8TA

THE COIAMONWEALTH EDUCATION TRUST
Contents of the Financial Statement
tor the JEar ended 31 De¢ember 2020
Reference and Admlnlstratlve Detalls
R&port of the Tru¥te&s
Independent Exwnlrw's Report
Statement of Flnaneial ActivNles
B•lane• Shèèt
14otes to the ￿nancial Statements
9 to 15

THE COMMONWEALTH EDUCAMN TRUST
Reference and A(knlnlstratt¥e Det811$
for the ended 31 December 2020
Trusttss
The Cornmonwealth Edwation Trust timited
Prlnclpal addr•$s
7-14 Great Dover Street
London
SE1 4YR
Reglstered chwlty nunber
1119647
Inde￿ndent examlner
Haines Watts Icityl LLP
Ngw Derwent House
69-73 Thoobalds Road
London
WC1 X 8TA
Page 1

THE COMMONIMEALTH EDUCATION ThUST
Report of the Trusttts
for the year ended 31 D￿ember 2020
The TTUStee presents its report with the fina￿1￿ 5tatwnents ol The Cornrnonwealth Education Trust I"CEf) for the year
to 31 December 2020.
The flnanoal 8tat8m9nts have been prepar&Y ITr accordance witb the awounting Foliue5 Sgt out on pageg 9 to 15 and
c(wnply wth the Trust Deed that estatlished aThJ governs the Trust. apFdicatde laws, the Charities Act 2011 and
Accouniing and Reporting by Charitie5'. Statwn9nt ol Rccomrnend￿ Practice applicthe to charib'es weparing Iheir
accounts in accordance with the Financial Rq)orting Standard ap￿ICable in the United Kingdom and Republic ol Ireland
IFRS 1021, effective Ircffi accounts.ng pèrKJds commancing 1 January 2015 or lat6r.
ORIGINS
CET is a charitaue trust that was estaLlISh￿ in 2007 by the countries ol the Commonwealth as the suceessor trust lo
The Cornrnonwealth Institute. The Institute was itsdl the SUCLessor trust to the IM￿rial IrE*'tute which had its or￿InS in a
fund ras8d in 1886 to calèbrale Quogn Vi¢ioria's Golden Jubilee.
ObAoctlvè$ and aciivJllè$
CEfs purpose is to a(fvance education in the Commonwealth. I￿r primary focus is on swporting teacher protession
develOpm￿t in &Ignrn￿t with the United Nations, Sust&na￿e Develo￿ent Goal 4.. Qudity EdLuts"on.
When settiro the strategy and planning future &tivthes, the Tr￿st8tr has had du8 r￿Jard lo the guidance ISSU￿ by the
Charity Commission on public ben8fit. GET Undertak￿ project5 with Commonwealth-wide application. structured either
to be acc8SsikAe anywh&re digitally or to be scalable and transferable. In this way the benefits ol our a¢b"vilifjs arg tK)I
limit￿j to the immeci*e beneficiaries but have the potential to reach learners throughout the Commonwealth Including
thosè that are rn05t in need.
AchieV￿￿ent al￿ performance
Teacher Professlonal Develowtrnt
Sustainable Develorxnent Goal 4{"S￿4.) is to 'En5ure inclusive and &]uitable qudity tsylucation and promot8 lrfelong
learning owortunities for ￿1,.
While ￿h0o1 6nrolm8nls have imtxov&l in lower-irmme countries over the last t￿ years, it is astimalod that 250 million
children arourKJ the world leave school unable to read or write. For many teachers in1ower-inccthe countries the training
they receive does not them for the Ch￿lengIng situations they lace, such as largè dass siz8s or pothy resourced
classrooms. In addition, the lack ol quality continuous professioTHI dèvgloptll8nt tneans they do not have opportuThties
to lèarn and imFyove their teaching as their careers progress.
We work on the evidence that a tea¢heT has tnore irnpact on learning outcunes than any other fartor arKI the better a
teaehor's kn￿edge, pedagogical practices and relati0rn8hips wtih students, the more children will learn.
Teach 2030
During 21r20 we contillU8d to devdop Teach2030, our online teacher developnenl pr(NJrarnm8 designed to hdp teachers
across the Commornwgalth to u￿6￿11 th￿r core teaching aTh1 digital skills. Our brfce-siz8 online courses are rnapp￿ to
Cambridge Teaching Standards and help teacher5 teach b8tt8r by d8velopirYJ their pwjagogical knowledge, classroom
practice and connections wth pupils. Low data iM￿&S and videos rnean the courses are a¢￿sSI}￿e through
smartphones and rther mobile d8vices. Local facilitators can SLPPOrt teachers ihrough Whatsapp oroups, in-person
sessions and drop-in 5UPP(xi.
During the year we launthed an EdT￿h platfom to host T8ach21rJo and ¢wtinu￿1 to &stablish partnerships to help
implement regular, long-t8rm (x)ntinwu5 professional development programmes in sU￿Saharan courrtfies.
In earfy 2020 we began working with the Teaching Couneil of Zambia on a [￿aSed rollout of Teach2030 courses to
nearly 2,000 teachers in the Chongwe and Chisamba districts of Zambia Teach2030 is now baiw uswj lor
whol&seho(A continuous profe55ional develownent and it is Int￿d￿ to extend the programmè to reach all
OLsnThl-r&Jistered leachers.
We also partnered wth war￿Ck in Africa lo ddiver digital corntinuous professional developrnenl to the sehools they w(Kk
with in South Afri¢a, Ghan8 and Tanzania. Beginning wth 31 lead teachers the aim Is to SUPKK)rt over 700 teachers
wor￿ng it) 24 schools.
In May 2020 we partnered with COCO, a charity worknng with communities in rurai east Africa, to provide supwrt to 76
téachers in eight schools and colleges in Tanzania during gnlorce(J CoMd-19 closures by prowdiThJ free access to
Teach2030 courses.
Page 2

THE COMMONWEALTH EDUCATION TRUST
Report of the Trug1998
for the year ended 31 December 2020
We have also been working with Iho Unit* Naiions Industlial D8v8loprnent Organisation to dglivgr Teac*2030 courses
to T￿hnl¢￿ ar￿ Vocational Education and TrainI￿a teachers in Liberia.
In 2021 we have begun WO￿1￿ vMlh K￿yaCOnn* and Calojtta Rescue In Indla.
In Dec8rnb8r 2020 Hun(trED, in partn8rship with the World Bank, launched the Teachers lor a Changng World SFQtlighl,
a global campaign to Idenbfy programs ettecbvdy using technology lo enable teacher prdessional developmènt at scale.
In Sgptwnber 2021 it was announced that Teach2030 had been identrfied as one ol the top ten innov*ions from over
400 programrnes in 80 countries.
so in September 2021, it was announc￿1 that Teath2030 had been sdected as one of the wnners ol the
Commonwealth sscrètary-G8n￿al s Innovation for Sustwnable tjevelopment Awards which recognise grourKJ-braaking
work on sustainability-
Foundatlon8 01 Tea¢hlng for Learnintywriting tor Young Readers
Foundaiions ol Teaching loi Learning IFfLI is an iniensive prograrnme of masgv9 open onliro courses IMCK)Csl on the
Coursera plattorm targeted towards ￿u¢at0rS looknng for an intensive teacher skills developxnent prO￿aMme and are
designed to hdp teach￿5 develop and strengthen $￿'11S in teaching, pedagogy, prolessionaism, and assessment.
Prolassor John Mac8trath, Professor Emeritus at the University ol Cambridge, UK, is the Programme Dir*or and the
courses are by ￿luCationa￿lstS frorn universities aeross Commonwealth.
Also on Courser< Wribng lor Young Readers.. Cpening the Treasure Chest (WYRI is a MOOC that W85 devdoped by
CET to encourage authors who %￿Ul￿ like to write for thildren but who have little access to the SUp￿)rt expertise of
establish￿1 authors, editor5 and publishers.
We have seen increased enrolment on WYR 2nd FfL ¢ourses during the Covid-19 pand￿1¢.
Programme Related Investments
At 31 D*ember 2020, CET had one wholly owned subsidiary. 1886 Investmerts ￿MIted{l886 Investments), registered
tn EnglafKI and Wales under number 07059897. which is not currently achve.
1886 Investments had minority shareholdngs in two companies which are held in trust for the beneftt of CET..
- Globds ITeS Privato Limited, a company based in Itmlia whkh dev8lops IT systwlls indud'ng management infomiation
sYSt￿S for schools.
Laarn Sdutions Lirllr(￿j, based in the UK and IradlrKJ as TLC Education Group, offering global online tutoring services.
At 31 Decembor 2(Y20, CET had a rninority Sh￿oholdIng in Little Travd Buo ￿m((￿l, bas&1 in Ihe UK and tradiw as
Oddizzi. an online geography resource lor primary s¢hools. In May 2021, CET'S interest was sold to thé c(ynpanls
majority shareholder for £10,000.
Flnonclal revlèw
During th8 y8ar CET r￿1V&1 donations'amountitvJ to £9,821 12019- £5,3001 arKI i[￿8 trorn educat'onal programmes
of £41,02712019 - 214,1461. Investrnent in(x)me and interest 01 £1,511 12019 - £5,805) was earned during the year.
Overall incoming resource5 arnount* lo E52,35912019- £25,251).
CharitaNg 8xpenditure during the year of unrestrided funds amounted to £238.02912019 - £269,214). £47,05712019-
£14,97n was swt on the manag￿ent of CEfs 1fTrvestsn￿ts.
Nat 8xchanga rate losses on investments for the peri(Kl was £33512019- £1901.
Amounts written off in respact of intgr¢omwy b*arKes lor the peric*J was a gain of £23,06612019.. loss of £115,765).
Rl$k M8rwgement
The CET Group Risk Managgnent Polieies establish overarching guidelines and control prctesses for the r￿gnit￿n
and evaluation ol rid(s. Thè Trusteo ¢(>nsiders the fdlowing to be major risks arfectlng the ¢harity'.
Fundrwsing- CET must continue to davalop sust&nabltr arKI diverse irKx)m8 streams to ensure long temi sustainability-
Page 3

THE COMMONWEALTH EDUCATION TRUST
Report of the Trustees
for the year ended 31 1)ecember 2020
Teach 2030 - there is a risk that Tèa¢h2030 wll not b8 p9rcglv￿I a5 part of Ihg solutyon to achieving SDG4 and is not
taken up by CommOnw￿tth countries. There is also a iisk that ccmwiro Frogrammes are develop￿ by oth
PToviders.
Unlisted InvestsnHrts - 1886 Investments can influeKe but does not have control over d￿￿0￿m￿ng in its urlist
investments all of whi¢h are in ￿uca￿"0nd ent￿riSeS.
Resem and Invtr$tm¢th poll¢y
I funds are hdd as cash at bank. The long-temi 0￿.eCtiVe is to s6tt1è at a lavd ol urYeslricted reserve5 equal to 51X
month's operating costs.
Flnanclal posttlon
The balan¢e sheet shows total funds of £167,72612019 - £377,7221 of which £34.77012019 - £51,470) aTe Te51ricted.
Details ol the restrict￿ funds ean bg lourKJ in no195 16 to 19 to the fIna￿CIal siatetnents.
The unrestricted funds ol CET artr in 5urtAus by £127,95612019- £326,252).
Structurey governoneè #nd mar•gement
Trustees
CET 15 governed by a deed of trust dat￿ 14 June 2007 that vests the Trust pr¢wwty in four individual trustees or cne
corporale trustee. The Commonweallh Edu¢atson Trust Umited Ithe Trusteel, a company limited by guarantee, was
CET'S sole trustee durirKJ the year.
The responsikn'lities of thè Trustee are exercised through its Board of Threctors. Thè M￿berS ￿ the Trustee Board who
swed during the year and up to the date of this rèport wéré:
Directors
Mr Jeffrey Twentyman
Ms Betty Abeng
Mr Andrew Cartwright
Mr Matthew Dixon
r Math FIL￿an
Dr Charlotte HadarKI Scott
Mr Ajex McGrath
Appolntedlreslgr*d
Chairman
Appoint￿1 1 April 20201R85ign￿1 15 May 2021
Appointed 1 April 2020
Resigned 5 Mareh 2020
R8signed 21 D￿ernber 2020
Thè mem￿rS of the Trustee Board giv& their lime on a voluntary basis to the management and governance ol the
charity. They meet at least tour timès a year to review progress and to make decisions règarding strategy, pdicy, and
staffing. The Trustee Board liaises dosely with the managem8rrt team who ar8 paKI staff and are responsible for the
day-to-(*y managwnent d CET.
New Board members are appoint￿ by the Board wth a view to ensuring that there Is a breadth of experience on the
Board including in th8 area5 of 6*ucation, bU￿neSS management, internatyonal affwrs and lundraisng. Fomial induction
Is given to ￿1 new trustees who are Invit￿ to attend meetillgs with current trustees and staff to ensLtre they have an
appropriatg understanthng ol their legal obligations under charity law, thg Trust DeL*J, CET'S actiwties and financas.
The Trustee has put in place procedures to E17sure thai simrAe but effectivè eMtrds exist over ￿1 key fi'nanaal systans
and obtaifjs indepeThJent expert advice whwe n&essary before all [Hat￿traI d￿l￿onS are taken.
Under CET'S Trust De¥l. the countries of the CoMmon￿alth are members of CEfs CoTnmonweatttt Counul. To
maintan Commonweamh links the three High Comrnissioners to Londfft who reprgsent the countries hdding the
imme(Sate pasL current and future Chair of the Commonwealth arg designat￿1 as Advisory Trustees. Their role is to
advise the Trustee on matters rdated to th8 C(ynmcffMe&th. The o)untsies V￿th this r6sponsibilty ar9 currently Mata,
the unit￿ Kingdom, and Rwanda.
Orgwisallon
Executive Management
The key manag￿ent personnd are ¢x)nsdered to be the Board of the Trustee who gNe their time voluntarily and are
not raruneTaled.
Page 4

THE COMMONWEALTH EDUCATION TRUST
Report of th& Truste8s
for the year ended 31 Oecember 2020
Structure. govemance and marnqgem¥nt
Wth the Charity Commission's Consent Miss Betty Abeng, who was preVI￿SIY a director ol the Trustee, was appoint8d
Chief Executive on 1 June 2021. Miss Kat Thorne resigned as CET'S Executive Director oft 31 August 2021. Mis5
Gillian Youw is CEfs Trust Secretary. When the national lockdown in England was announc8d in March 2020, staff
worknry hour5 wertr r￿ju￿J for three months. Normal working hours were resumed in June 2020.
We engage tho s￿ice5 01 contractors afky admsers ￿1th profesyonal qualifications andlor approrriate experie[￿ in
thair rèswtN& disci￿IneS as and when apwow'ate.
Durir¥J the year CET benelitted fr￿n the sarwc8s of savara vdunt86rs who ggnerously contributed their time and
expertise to the tharity.
24."
Approv¥1 by the Trustee on .............. Ctt¢*er 2021 and ggngj on its behaw ty:
of Tfie C￿mMOnw&atth Eduoation Trust knrnrted- Trustee
Pagè 5

**Independent Examiner's Report to the Trustees of The Commonwealth Education Trust** 

## **Independent examiner's report to the trustees of The Commonwealth Education Trust** 

I report to the charity trustees on my examination of the accounts of The Commonwealth Education Trust (the Trust) for the year ended 31 December 2020. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. 

In preparing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

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

We draw attention to the statement of financial activities which shows the Trust has incurred net losses during the year ended 31 December 2020 and the year ended 31 December 2019. As independent examiners we have reviewed the charity's short and medium term plans, actual results post year end and cash flows for the next 12 months from the date of signing this report. As per the trustee directors' note 1, they indicate that they believe no material uncertainty exists that may cast significant doubt on the charity's ability to continue as a going concern. Based on our reviews detailed above we have no reason to disagree with their conclusion. 

The trustees' view on the impact of COVID-19 is disclosed in the Trustees' report. 

Our opinion is not modified in respect of this or any other matter. 

I confirm that no other matters have come to my attention that give me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. 


David Boosey BA (Hons) BFP ACA Haines Watts (City) LLP New Derwent House 69-73 Theobalds Road London WC1X 8TA 

28 October 2021 

Page 6 



THE COMMONWEALTH EDUCATION TRUST
Smement of Flnanclal Actlvitles
tor the year ended 31 Oecember 2020
2020
Total
funds
2019
Total
fu￿19
Unrestrlcted
fund
Restricted
fund
Not•$
Income and erthv4Tnents Irorn
tlonations and 16gaci8s
9,821
9,821
5,300
Charttable actlvltles
Educational pr(&ramm89
41.027
41,027
14,146
Invesknent inccme
1,511
1,511
s,￿5
Totsl
52,359
52.359
25.251
Expendtture on
Raislng lun(k
47,057
47.057
14.977
ch8rii¥bl¢ a¢ll¥llles
Educational Pr￿raMme$
238,890
218,890
258,650
Other
19,139
19.139
10,564
Total
285,086
285,088
284,191
Net g&nslllossesl ￿ investments
22.731
22,731
115,9551
NET INCOMEIIEXPENDITURE)
1209,9961
1209,9961
1374,8951
Transfers between funds
16
Net movement In tunds
1198,2961
111,7001
1209,9961
1374.8951
ReconcilÈation of funds
Total tunds brought tonvard
326,252
51,470
377,722
752,617
Total tund$ carried forward
127.956
167726
The note5 forrn part ol these financid statanents
Page 7

THE COMMONWEALTH EDUCATION TrUST
881on¢e Sheet
31 December 2ff20
2020
2019
Notes
Flxed assets
Tangible assets
Investments
12
370,840
370,840
Current assets
D*Jlors
Cash at bank and in hand
13
1,395
175.594
216
176.989
14,336
Crediiors
Amounts IdlitvJ du6 within ong y￿r
14
19,2631
17,4541
Net current assels
167726
Total as*ts less cuttonl Il¥bllltles
167.726
377,722
NET ASSETS
167.726
n(Is
Unrestrict&Y funds
Rttstrlct￿ funds
16
127,956
S9,770
326.252
51,470
Toial fun(ts
167,726
377,722
The fi'nanual Stat￿entS wera approv￿1 by the Trlslee and afrthorised for issue on .............. Octo￿r 21r21 and were
signed on its behalf by..
C)ir￿lor of The Commonwealth Edueation Trust ￿mIted- Trustee
The notes fom part of these linatKial S￿t￿entS
Page 8

THE COIMIONWEALTH EDUCATION TRUST
Notes to tho Fln8n¢lal Statements
tor the year ended 31 December 2020
Accountlng pollcl&s
Basis of preparing the flnanclal statements
The financial statanents d the tharlty, whi¢h is a public benefit enlty undeT FRS 102, have been prepar￿ in
accordance Mth the Charities SORP IFRS 1021 'Accounting arKI ReportirrfJ by Charities.. Stat6xnent ol
R&ommended Practice ap￿leaN￿ to ohaFth"es weparino their aco)unts in accordance with the Financial
Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 loft￿tiVe 1 January 20191., Financia
R8PQrting Standard 102 The Finanod ReportirYJ Standard appli¢aUe in the UK and Republic of Irdand. and the
Charrties Act 2011. The linartial stat￿ents have been prepared under the historical cost convention, wth th6
exception ol investm￿t$ whlch are ineludéd at markai value.
The wesèntational ¢LYrency of these linanoal statements is the Pound Sterling (£1.
Amounts in the finanfial statements ar8 round￿ to the ngare5t £.
The charity has taksn thantag8 of the followiThJ disclosure exemptions in preparing thèse financi￿ statements.
as pormrtt￿1 by FRS 102 The Finan£xal Reporting Standar¢J applicatle in tho UK aTKJ Rq)ublic of Ireland.:
thè r8quirèm8nts of Secb'on 7 Statement ol Cash Rows-
the requirement of para￿aph 9.17ldl.
Crltlcal accountlng estimates and areas of judgement
Preparation ol the 8¢cx)unts reouires the Trustee and manag¥nent to make significant Il￿g￿entS a￿1
estimates.
The items in the accounts wherè these juduernents and es)'mates have been madè include the carrying vJue ol
minority holdings.
Income
All inwme is recognIs￿ in th& Statgment ol Financial Activities once the Charity has entrfc1ern￿t to the funds. it is
probable that the income will be receiv￿ and the amount bo rH8asur6* rdiably.
Resources exper*lèd and the basis of apportlonlng eost$
Expènditure 15 ificluded in the stat&nenl of financial activities on an actruals basis and is recoon1s￿ when there
is a lèJal and (x)nstructive ot4igaiion to make a payment, and Ir￿udeS V￿ue A(*1￿1 Tax which cannot ba
r￿0Ver*. All expenditura Is ir￿u￿.
Ex￿nditUr0 comprises the following..
& Expenditure on raisiro funds represents the time taken to manage the inv8stsn8nls and the assouated support
cost&
b. The costs ol charrta14e adNrtie5 tx)mprise expenditure on the chaiity'5 wmary charitaNe purposes as
described in the Trustee's report.. C05ts indude the costs of programme development and initiatives.
c. Sutport Costs retxesent indir￿t charilatAa 8xp6nditure. In order to carry OLIt the activities of ¢harity it is
necessary to provide support in the form of personnel developnent, h"nartial pr￿edures. provision ol offic8
Servi￿S and equipnent ar￿ a suitatI8 worknng environment.
Governane8 costs are included wthin supp(Kt COSt5 arKI comprise the cosis dir￿tlY attributable to the
governance ol thg charlty induding audit costs and the nwessary legal pr{￿￿lUr&s for ¢otnpliance with statutory
requirements and the stratry￿ runnir¥J of the charily.
T8xation
The charity is 8xemi* fr(m tax on ts charIta￿e actiwties.
Fund accouming
Unrestiicted funds Can be uswj in a￿Ordance with the CharIta￿e obJ'8ctN8s al the dI￿retion of the Trustee.
RestriCt￿j tunds can only be used lor particular restriet*J purp088S bmthin th& ot4ecls of the charty. Restrictior
ari58 Wh￿ specified by the donor or when funds are r￿S￿l for particular restricted purw)$8s.
Further explanab.on of the nature and purpose ol each fund is I￿ll￿1￿ in the notes to the linawal statements.
Page 9

THE COMMONIN&4LTH EDUCATION TRUST
Notes lo FJn8n¢l81 siatements. contlnued
tor the year ended 31 Decom￿r 2020
Accountlng pollcl•$- ¢oniinued
Forelgn C￿￿enCOeS
Assets arKJ liatilities in foreign currencie5 are translated into sterfing at the rates of exchange ruling at the
balance sheet date. Transactions in loragn currenciès are tran￿at￿l into starling at Iha rate of èxchangè ruling
at the date of tran5a¢b'on. Exchar¥Je diHererKxs are taken into ac(y)unt in arriving at the operating result.
Hlre purchase and leaslng commltment$
Rentals pad under operats.ng 18a58s are charg￿1 to the Statement of Finanad Actimties on a straght linè basis
over the period ol tha18as8.
Panslon costs and other post-retlrement beneflts
The charity operates a defined contribution p9Tr5ion scherne. Contributions paYa￿e to the charty$ perLsion
scheme are ¢harged to the Statement ol Financial Acbvities in the periocl to which they relate.
Assessmant of going concern
The Trustee has reviewed the Trust's current resources arKI principal income streams and assessaj whether thè
us& of th& goin9 concern assumption is appropriate in preparing these accounts. The TrL6tee has made this
as$8gsment in reSp￿t to a period ol one year from the date of approvd L* these accounts.
The Trusieè has condud8d that the charity has adequate resources to meet tts liabil￿eS as they fall due and lo
¢ontrnue in Operation￿ existence I￿ the IoTeseeable future.
DOr￿lon¥ and legacies
2020
2019
C￿￿monW0a1th donations
Other incomè
300
9,821
9.821
5,300
Investment Ineomè
2020
2019
Bank interest on invostrnw)t deposf( accounts
Bank interest on wothng capita acC￿nIS
1.511
4,518
1,287
5,805
In¢om& from charltable actlvmles
2020
2019
Activlty
Tèacher rxofe5sion
deve1q)m￿I
Edu¢abond programmes
41.027
14,146
Page10

THE COMMONW&4LTM EOUCATION TRUST
Notés to thè ￿nancIal Staternerts. continued
tor the year ended 31 December 2020
Ralslng lund$
Ralslng dor*tlons and lagael•s
2020
2019
offi￿ costs
272
Other tradlng actlvttles
2020
2019
Bad debts
135
Inveslment man0gwn￿ll ¢ost$
2020
2019
Staff ¢osts
Support costs
Travel arKI sub5iStence
33,9¥J
7.407
8,761
5,282
934
46,650
14.977
Aggr8gate amounts
47,057
14,977
Other
20>)
2019
Support costs
10,564
Trust•es' rwnurwatlon and tenellts
Thar6 were trustees, remuneration or othar bonefits for tre year endwj 31 0￿mber 2020 r￿r for the year
end￿1 31 De¢ornb8r 2019.
Trustees. expenses
No expenses were paid to Board members lor th8 yèar 31 D￿ernber 2020 nor tor the y8ar er%Jed 31
December 2019.
staff costs
The average monthly number ot ernI￿OYeeS during the year was as follows."
2020
2019
Page11

THE COMMONWEALTH EDUCAMN TRUST
Notes to th¢ FEnand81 Ststemènt$- ¢ontinued
for the year ended 31 December 2020
Support costs
2020
Totsl
funds
2019
Total
funds
Charitable
activities
Investment
managem8nt
Other
Finance aTrY
administration
Rent, rates aThJ
service charges
Insura[￿e
Office costs
GovernarKe costs
21.299
3.043
6.086 30,429 10,925
2,968
2.772
19.994
4.326
494
396
2,856
618
988
4.942 12.652
792
3,960
5,046
5,713 28,563 16,996
7,200
2020 Totol fund$
7407 1481S 74074 52,819
2019 Total func
36.974
5,282 10 564 52 819
10.
Net movement In funds
2020 Total
fund$
2019 Tot
fun(ts
This is stat&1 after ¢harging'.
Staff costs
IndepeTKlent examiner lee
Operating lease rentals
205,288
3.000
37,465
230,437
7,200
35,339
11.
Tangible Ilxed asset$
Flxtur•s
and
flttlngs
Cost
At 1 January 2￿20
DisposJs
14,741
14.7411
Al 31 Decernb8r 2020
D¥pro¢i*lon
At 1 January 2￿20
Eliminat8d on disp05al
14,741
14,7411
At 31 December 2020
Net book value
At 31 D￿ember 2020
Al 31 Decernber 2019
Page 12

THE COMMONWEALTH EDUCATION TRUST
Notes to the Hnandal W￿￿ents- contlnued
for the year ended 31 December 2020
12.
Fixed asset Investment$
There were no investment asseis outside the UK.
13.
Debtors.. amounts falling du8 within or* year
2020
2019
Oth8r debtOTS
Prepayments and accru￿ incom•
900
495
135
81
1,395
216
14.
Credltors: amount$ f•lling due wlthln one year
2019
Expense crgjitors
Other ueditors
5,252
4,011
1,757
5,897
7,454
15.
Analysls of net assèts between funds
2020
Total
lunds
2019
Toi$l
lunds
Unrosiri￿e￿
fund
Re$irf¢ted
lund
Investments
Current assets
Current lialyif(ies
370,840
14,336
137,219
39,770
176.989
127,9S6
167726
877,722
16.
Movement In lun(ts
Net
Mov￿ent
In fund$
Transfers
between
At
31112120
At 111r20
Unrgstficled funds
General funds
326,252
1209,9961
11,700
127,956
RestActed luntts
Restriciaj funds
51,470
111,7001
39,770
TOTAL FUNDS
377,722
209,9961
167726
Net movanent in funds, iFrluded in the above are as lollows:
Incoming
resources
Resources
expended
Galn$ and
losses
Movement
In funds
Unrestrl¢ied fur
General funds
52,359
128S,0861
22,731
1209,9961
TOTAL FUNDS
285,086
22.731
209,9961
Pag8 13

THE COMMONWEALTH EDUCATION TRUST
Notes to the Hn8ndal Statemènts. eontinued
Yor tho ￿•r ènded 31 December 2tr20
16.
Movement in funds- contlnued
CfAnparatlves for movement in funds
Net
movement
In lunds
At
31112119
At 111119
Unrwrl¢I￿ fund$
General fuThYs
701,147
1374,8951
326,252
Restricted funds
Restrict￿1 furKIs
51,470
51,470
TOTAL FUNDS
752617
374 8951
Comparativo ngt movement in funds, induded in tho abova arè as follows..
Incoming
resour¢e$
Resources
¢xpended
Gain$ ar
losses
Movement
In lund$
unr￿rIcted funds
General funds
25,251
1284,1911
1115,9551
1874,8951
TOTAL FUNDS
25.251
284,1911
115,9551
374 8951
A cu￿ent year 12 months and prior year 12 monlhs ccmbln￿I position is as follows-.
Transfers
between
lund$
movement
in lunds
At
31112120
At 111119
Unr&strl¢tgd fund$
General furKIs
701,147
1584,8911
11,700
127,956
Restricted funds
ReStrIct￿ furKIs
51,470
111.7001
39.770
TOTAL FUNDS
752617
584 e911
167,726
Page14

THE COMMONWEALTh EDiICAnON TRUST
Notes to the FlnarKlal &atements- contlnued
for the year ended 31 Oe¢wnber 2020
16.
Movement in funds- contlnued
A ¢urrenl year 12 monihs and wor year 12 rnonths combined E￿t rnOV8ment in lund5, induded in the above are
as follows..
Incoming
resources
Re3ource¥
expended
Golns ond
lossès
Movement
in lund&
Unrgstrirted lurKI
Gènèral funds
71,610
1569,2T/I
193,2241
1584,8911
TOTAL FUNDS
77,610
569,2771
93,2241
584,8911
17.
Related party dlsclosure5
There were no related partytraTh%aetions for tha ygar ended 31 D￿9rnb8r 2020.
18.
Rè$trieiod funds
Balance at 1
January 21rdo
B818n¢e ¥131
December 2020
Inc(Kne
Extxnditure
Education funds
Seotbsh funds
11,731
39,739
111,7001
31
39,739
Education funds rewesent amounts received and being hdd lo fund future ￿luCatIon￿ wogramTnes irh
a￿ordanCe with the purposes lor which they werg donat￿.
The Scotbsh fund repT8strnts monies hdd to fund ILrture &Yucationd initiatives in Scotland.
Page15