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2023-03-31-accounts

Reach to Teach
Contents
Page
Trustees' Report 1-14
Auditor's Report 15-18
Consolidated Statement of Financial Activities 19
Consolidated and Charity Balance Sheets 20
Consolidated and Charity Statement of Cash Flows 21
Notes to the Financial Statements 22-31

Charity faces. faces.
Details ofthe main risks and how these are managed are set out below.
Key risk Details ofrisk Management
ofrisk
Availability of Funding risk: Between 2007 and ~ The Charity has fundraising
teams
in
funding to sustain 2023, the Charity has had one funder, place
in India and the UK and		 is in
the Charity the
Larry
Ellison		 Foundation (LEF). discussions with
several
The grant agreement with LEF has international organizations and
now ended, and the Charity has cash foundations.
available
to
fund		 its activities until
2025, so it must raise funding in the
next two years.
Black swan Black swan events such as Covid-19 ~ Covid
learnings:		 The
Charity		 has
events disrupt the Charity's work resulting in been
building
alternative
frameworks
delays and repurposing of education such
as		 online processes and
budgets for disaster interventions. digitalization ofeducation.
~ Our geographical spread
means		 we
will be less susceptible
to events
in
one State.
~ Staff security
policy
in place,
which
includes close monitoring of
employees' travel arrangements.
~ Our operations
are flexible,
and		 staff
can be reassigned across projects.
~ We
are		 developing
a
disaster
preparedness and
response
programme to maintain
learning
continuity
as
a		 service
offering		 to

support
states
dealing
with
black		 support
states
dealing
with
black
swan events.
Safeguarding The risk of harm, exploitation orabuse ~ Safeguarding
policy
and		 reporting
risks ofan individual during oras a result of procedures
are
in
place
with
the Charity's programmes. designated
safeguarding		 staff
at
Board, management
and operational
levels,
and
training
is		 regularly
provided
to all staff.
~ The
nature
of our
work		 with
the
government
means there is		 very
little
direct
access
to
children
and
communities.
Impact risks Outcome and impact assessments ~ Three-year
duration
for all		 proposed
need to be more adequately carried programme
interventions		 (as
a
out. shorter
duration
is
not
enough
to
demonstrate
improved		 learning
outcomes).
~ Regular
programme
review		 protocol
and governance
structure
in		 place.
~ Monitoring
and
evaluation		 are
built
into all programme
designs.
Reputational risks Damage to our reputation would affect ~ Maintenance
of good
relationships
our ability to work with state across all stakeholder
levels.
governments and impact our ~ Clear
policies
and
procedures
to
fundraising efforts. manage
interactions
with the media.
~ Contingency
plans
are
in		 place to
manage
reputational
risks.

Advisors to the Company the Company
Bankers: HSBC Metro Bank
Pall Mall Commercial Centre 137Chiswick High Road
5th Floor London
70 Pall Mall W4 2ED
SWIY 5EZ
Auditors: PKF Littlejohn
LLP
15Westferry
Circus
London E144HD
Legal Advisers IJK: Bates Wells Braithwaite
10Queen Street Place
London, EC4R 1BE
Legal Advisers India: Ashwathh
Legal
K19Jangpura
Extension
New Delhi 110014
Auditors India; PKF Sridhar
& Santhanam		 LLP
319,Third Floor, DLF Prime Towers
Okhla Phase
1
New Delhi 110020
Accountants India: Hasmukh
Shah &Co
409-410, Dalamal
Chambers,
New Marine Lines
Mumbai
400 020

Note Unrestricted Restricted 31-lilt sr Unrestdicted Restricted 31-Mar
Funds Funds 2023 Funds Funds 2022
Income From:
Grants 416,579 416,579 4,723,494 4,723,494
Investment income 139,961 - 139,961 12,516 12,516
Total 139,961 416579 556540 4,736,010 4,736,010
Expenditure
On:
Raising Funds
Charitable
Activities		 18
60		 244,475
1,646,903		 244,493
1,646,963		 216
93		 110,149
1,629,084		 110,365
1,629,177
Total 78 1,891,378 1,891,456 309 1,739,233 1,739,542
Net income for the year 9 139,883 (1,474,799) (1,334,916) (309) 2,996,777 2,996,468
Total funds brought forward 15 18,715 7,837,623 7,856,338 19,024 4,840,846 4,859,870
Total funds carried forward 15 158,598 6,362,824 6,521,422 18,715 7,837,623 7,856,338

Group Charity
Company
number:		 06002138 Note 2023 2022 2023 2022
8 F F
Fixed assets
Tangible assets 11 16,427 16,972 1,230
Investments 12
Current Assets
Debtors and prepayments 13 698,037 250,935 806,285 511,300
Cash at bank and in hand 6,175,631 7,968,106 5,197,172 6,980,771
6,873,668 8,219,041 6,003,457 7,492,071
Current
Liabilities
Creditors: amounts
one year		 falling due 14 ~319,789) ~322,716) ~(58,486 ~(60,05~
Net Current Assets 6,553,879 7,896,325 5,944,971 7,432,021
Creditors;
amounts		 falling due after
one year 14b (48,884) (56,959)
Total Net Assets 6,521,422 7,856,338 5,944,971 7,433,251
Funds
Restricted funds 15 6,362,824 7,837,623 5,810,635 7,414,536
Unrestricted
funds		 15 158,598 18,715 134,336 18,715
Total Funds 6,521,422 7,856,338 5,944,971 7,433,251

Cas h Flow St atement as at3zstM arch 202 3 3
Group Charity
Notes 2023
f		 2022
f		 2023
f		 2022
f
Net cash provided by
operating activities A (1,918,026) 2,953,044 (1,899,298) 2,206,086
Cash flows from investing activities
Interest received
0
t tp
I
1 gt		 gtpl tt* 0 t 139,631
~14,D80)		 12,516
(9,778)		 115,699 2,734
Net cash inflow/(outflow) from investment activities 125,551 2,738 115,699 2,734
Net inflow at 1 April 2022 7,968,106 5,012,324 6,980,771 4,771,951
At 31 March 2023 6,175,631 7,968,106 5,197,172 6,980,771
Group Charity Charity
2023
f		 2022
f		 2023
f		 2022
f
Net income (1,334,916) 2,996,468 (1,488,280) 2,948,999
Loss on sale oftangible
fixed assets		 134 287
Sale proceeds oftangible fixed assets 94 1,277
Interest received (139,631) (12,516) (115,699) (2,734)
Forex revaluation
offixed		 assets (377) 92
Depreciation
charges		 14,774 16,517 1,230 2,989
Movement
in corporate tax		 (2,876) 8,171
Movement
in debtors		 (37,625) (133,583) 109,633 (500,178)
Movement
in prepayments
Movement
in creditors		 (409,477)
~8,128)		 472
75,859		 (404,618)
(1,564)		 1,478
~244,468)
Net cash provided
by operating		 activities (1,918,026) 2,953,044 (1,899,298) 2,206,086
Analysis ofchanges
in		 net debt
Opening cash balance
Cashflow
in the year		 7,968,106
7284)7,5,		 3,956&026
1,056,298		 6,980,771
(1,783,599)		 3,601,016
1,170,935
Closing cash balance 67175,631 5,012,324 5,197,172 4,771,951

4 Charitable
Activities		 Charitable
Activities
Direct Staff Support 31-Mar
costs costs Costs 2023
Year to 31st INarch 2023 E E E E
Government
Programmes		 63,640 1,140,210 167,368 1,371,218
Education
Content Development		 227,335 14,753 33,657 275,745
290,975 1,154,963 201,025
(See Note 7) (See Note 5)
Direct Staff Support 31-Mar
costs costs Costs 2022
Year to31st March 2022 E E E
Education
and Community		 Programmes
Government
Programmes		 146,391 1,333,232 149,554 1,629,177
Education
Content Development
146,391 149,554
(See Note 7) (See Note 5)
5 Support Costs Charitable Raising Basis of
Activities Funds 31-Mar-23 allocation
Year to31st March 2023 E E E
Staff costs (Note 7) 156,091 156,091 (I)
Travelling 104,670 104,670 (ii)
Rent and office related costs 163,702 22,323 186,025 (III)
Communications
and IT		 17,612 2,402 20,014 (iii)
Recruitment
Fees		 3,656 498 4,154 (iii)
Training (ii)
Foreign exchange
gain		 (409,425) (409,425) (iii)
Consulting
and professional		 fees 106,589 59,825 166,414 (ii)
Legal fees 15,023 352 15,375 (ii)
Depreciation 13,001 1,773 14,774 (iii)
Audit and accounting (governance costs) 28,894 1,210 30,104 (iii)
Corporate tax 59,543 59,543 (iii)
Donation
by Reach to Teach		 Private
Limited to Reach to Teach Foundation 51,672 51,672
Miscellaneous
costs		 46,088 19 46,107
201,025 244,493 445,518
Charitable Raising Basis of
Activities Funds 31-Mar-22 allocation
Year to31stMarch 2022 E E
Staff costs (Note 7) 93,932 93,932 (i)
Travelling 73,939 73,939 (ii)
Rent and office related costs 149,655 10,404 160,059 (iii)
Communications
and IT		 17,713 1,231 18,944 (iii)
Recruitment
Fees		 14,270 992 15,262 (iii)
Training (ii)
Foreign exchange
gain		 (299,730) (299,730) (iii)
Consulting
and professional		 fees 59,749 59,749 (ii)
Legal fees 10,491 1,621 12,112 (ii)
Depreciation 15,443 1,074 16,517 (iii)
Audit and accounting (governance costs) 30,353 739 31,092 (iii)
Corporate tax 64,338 64,338 (iii)
Donation
by Reach to Teach		 Private
Limited to Reach to Teach Foundation 49,112 49,112
Miscellaneous
costs		 372 (35,407)
149,554 110,365 259,919

31-Mar 31-INar 31-Mar 31-Mar
2023
Number		 2022
Number		 2023f 2022f

and the Chief Financ e O ffice r. Staff costs include the following amounts
paid to the executiv		 e team:
31-Mar 31-Mar
2023f 2022
E
Wages and salaries 428,995 450,109
Termination
and redundancy		 payments 32,510
Social security costs 20,783 20,025
Employers'
pension		 contributions 23,921 23,845
Staff Medical Insurance and other benefits 12,870 7,911
486,569 534,400
Total salary costs for the group are set out below
31-Mar 31-INar
2023
E		 2022f
Wages and salaries 1,195,507 1,237,424
Termination
and redundancy		 payments 53,480
Social security costs 19,866 26,492
Employers'
pension		 contributions 69,148 69,769
Other employee
benefits		 26,533 39,999
Total staff costs 1,311,054 1,427,164
Total staff costs
Charitable
activities		 1,154,963 1,333,232
Raising funds 156,091 93,932
1,311,054 1,427,164
Officer who served
during
the year of f146,85
total emoluments
over E60,000were as follows:		 0 (2022: f137,1232).The number
of staf		 f who received
Number of Number of
staff in Year staff in Year
to 31 INarch to 31 March
Bands 2023 2022
E60,000 - f70,000 1
f120,000 - E130,000
E130,000 - E140,000
E150,000 - E160,000

8 Staff numbers Staff numbers
The average
number		 ofemployees analysed by function was: 31-Mar 31-Mar
2023 2022
Number Number
Charitable activities 27.0 33.0
Raising funds 4.0 2.0
9 Net Income forthe Year
31-Nlar 31-Mar
The result is stated after charging: 2023f 2022f
Auditor's remuneration 12,060 12,000
Auditor's remuneration - non audit services
Auditor's remuneration - in respect ofthe subsidiary 7,957 7,717
Loss (Gain) on exchange (409,425) (299,730)
Operating leases 141,103 141,826
Depreciation 14,774 16,517

10 Depreciation
Taxation		 14,77 14,77 14,77 14,77 4
16,517		 4
16,517		 4
16,517
The charitable
company		 is a charity within the meaning of Para
1 Schedule		 6 Finance Act 2010. Accordingly,
the
charity
is potentially
exempt		 from taxation in respect of income or capital gains within categories covered
by
Chapter 3 of Part 11 of the Corporation
Tax Act 2010 or		 Section 256 of the Taxation of Chargeable Gains Act
1992,to the extent that such income or gains are applied exclusively to charitable purposes. No LIK tax charge
arose in the period. However, its subsidiary, Reach to Teach Private Limited, is liable for Indian corporation
tax at
25%on its profits. The charge for indian corporation tax was f62,356 (2022: f64,338).
11 Tangible Fixed Assets
Group Fixtures
8Fittings
f		 Computer
Equipment
f		 Leasehold
Improvements
f		 Totalf
Cost
As at 01 April 2022 353 74,401 74,754
Exchange revaluation (6) (1,047) (1,053)
Additions 172 13,908 14,080
Disposals (1,450) (1,450)
As at 31st March 2023 519 85,812 86,331
Depreciation
As at 01 April 2022 137 57,645 57,782
Exchange
revaluation		 (7) (1,422) (1,429)
Charge for the year 81 14,693 14,774
Disposals (1,223) (1,223)
As at 31stMarch 2023 211 69,693 69,904
Net Book Value
As at 31st March 2023 308 16,119 16,427
As at 31st March 2022 216 16,756 16,972

Nature o
India.		 fbusiness:
Inves		 fbusiness:
Inves		 tment
ofcharitable
funds		 to advance
education
amongst
children		 and young persons
Country ofIncorporation: India 2023 2022
0/ 0/
holding holding
Class of Shares
Ordinary (beneficially owned) 99 99

12 Investments
(continued)		 Investments
(continued)		 Investments
(continued)		 2023 2022
Results forthe year ended 31 March 2023 E E
Internal
income (fees		 paid by Reach to Teach) 1,989,035 1,879,367
Investment
income		 24,262 9,782
Total income 2,013,297 1,889,149
Administrative
expenses		 (1,927,426) (1,651,383)
Operating
profit		 85,871 237,766
Corporate tax (59,543) (64,338)
Results for the period 26,328 173,428
Total funds brought forward at 1 April 2022 498,608 325,180
Total funds carried forward at 31 March 2022 524,936 498,608
Balance Sheet at 31 March 2023
Fixed assets 16,427 15,742
Current Assets
Debtors 350,530 434,458
Cash at bank and in hand 978,459 987,335
Curent Liabilities
Creditors: amounts falling due within one year (252,730) (254,175)
Intercompany
payable		 (398,214) (507,448)
Net current assets 678,045 660,170
Creditors: amounts falling due within one year (48,882) (56,957)
Total net assets 645,590 618,955
Capital and reserves
Share capital 120,347 120,347
Profit and loss reserve 524,936 498,608
Shareholders
funds		 645,283 618,955
The profit was generated
by a		 mark-up on the operating expenses incurred in India.
13 Debtors Group Charity
2023 2022 2023 2022
E E E.
Other Debtors 37,989 60,118 1,363 2,124
Tax recoverable
(i)		 231,674 171,920
Amounts
due from		 group companies 398,214 507,086
Prepayments
and Accrued Income		 428,374 18,897 406,708 2,090
698,037 250,935 806,285 511,300
The tax recoverable balance of f231,674 (2022: E171,920) relates to Goods and Service tax (GST)
paid by the Indian subsidiary, Reach to Teach Private Limited, on the purchase of goods and services
and this amount
is		 recoverable from the Indian government.
and this am ount
is recoverable
from the Ind		 ian government.
14a Creditors: amounts
falling		 Group Charity
due within one year 2023 2022 2023 2022
E E E E
Creditors and Accruals 268,991 262,329 51,995 46,041
Taxes and social security 44,991 51,704 6,128 14,009
Amounts
due to group companies		 363
Corporation tax 5,807 8,683
319,789 322,716 58,486 60,050

Forth e year ended 31stM arch 20 23
14b Creditors: amounts falling Group Charity
due after one year 2023
f		 2022
f		 2023 2022f
Creditors and Accruals 48,882 56,959
15 Funds
Group 2023 B/Fwdf Income
f		 Expenditure
f		 C/Fwdf
Restricted
Funds
Other donations
and		 other income 314,826 314,826
Grant income 7,522,797 416,579 (1,891,378) 6,047,998
Total restricted
funds		 7,837,623 416,579 (1,891,378) 6,362,824
Unrestricted
Funds		 18,715 139,961 (78) 158,598
7,856,338 556,540 (1,891,456) 6,521,422
Group 2022 B/Fwd
f		 Income
f		 Expenditure
f		 C/Fwd
f
Restricted Funds
Other donations
and other income
The Larry Ellison Foundation		 302,310
4,538,536		 12,516
4,723,494		 ~),739,233) 314,826
7,522,797
Total restricted
funds		 4,840,846 4,736,010 (1,739,233) 7,837,623
Unrestricted
Funds		 19,024 (309) 18715
4,859,870 4,736,010 (1,739,542) 7,856,338
Charity 2023 B/Fwdf Income
f		 Expenditure
F		 C/Fwdf
Restricted Funds
Other donations
and
Grant income		 investment income 268,770
7,145,766		 419579 ~2,020558) 268,770
5541,787
Total restricted
funds		 7,414,536 416,579 (2,020,558) 5,810,557
Unrestricted
Funds		 18,715 115,699 134,414
7,433,251 532,278 (2,020,558) 5,944,971
Charity 2022 B/Fwd Income
f		 Expenditure
f		 C/Fwdf
Restricted
Funds
Other donations
and		 investment income 266,036 2,734 268,770
The Larry Ellison Foundation 4,199,192 4,723,494 (1,776,920) 7,145,766
Total restricted
funds		 4,465,228 4,726,228 (1,776,920) 7,414,536
Unrestricted
Funds		 19,024 (309) 18,715
4,484,252 4,726,228 (1,777,229) 7,433,251

Net Assets S plit
Group 2023 Unrestricted Restricted Total
Funds Funds 2023
E E E
Tangible Assets 16,427 16,427
Prepayments &Accrued Income 428,374 428,374
Other Debtors 269,663 269,663
Cash at bank
Creditors		 and in hand 158,598 6,017,033
~(368,673		 6,175,631
~(368,673
158,598 6,362,824 6,521,422
Group 2022 Unrestricted Restricted Total
Funds Funds 2022
f E E
Tangible Assets 16,972 16,972
Prepayments &Accrued Income 18,897 18,897
Other Debtors 232,038 232,038
Cash at bank
Creditors		 and in hand 18,715 7,949,391
~(379,675		 7,968,106
~379,675(
18,715 7,837,623 7,856,338
Charity 2023 Unrestricted Restricted Total
Funds Funds 2023
E f. f.
Tangible Assets
Prepayments &Accrued Income 406,708 406,708
Other Debtors 399,577 399,577
Cash at bank and in hand 134,414 5,062,758 5,197,172
Creditors (58,486) (58,486)
134,414 5,810,557 5,944,971
Charity 2022 Unrestricted Restricted Total
Funds Funds 2022
f E
Tangible Assets 1,230 1,230
Prepayments &Accrued Income 2,090 2,090
Other Debtors 509,210 509,210
Cash at bank
Creditors		 and in hand 18,715 6,962,056
(60,050)		 6,980,771
~(60,050
18,715 7,414,536 7,433,251