Reach to Teach
(A company limited by guarantee and not having a share capital)
Company Number: 06002138
Registcred Charity Number: 1121101
CONSOLIDATED FINANCIAL STATEMENrs
FOR THE YEAR ENDED
31st MARCH 2024

Reach to Teach
Contents
Page
Trustees, Report
1-17
Auditor's Report
18-20
Consolidated Statement of Financial Activities
21
Consolidated and Charity Balance Sheets
22
Consolidated and Charity Statement of Cash Flov
23
Notes to the Financial Statements
24-33

Reach to Teach
Trustees, Report
For the year ended 31 March 2024
The Trustees present their report and the audited financial statements for the year ended 31,
March 2024. These have been prepared in accordance with the special provisions of Part 15
of the Companies Act 2006, the Memorandum and ArticSes of Association, Financial Reporting
Standard 102 and Accounting and Reporting by Charities: Statement of Recommended
Practice (FRS 102) (effective I" January 2019).
Objectives. Strategy and Service Offerbngs
Objectives of the Charity
The Charity's principal objectives are to promote and improve the quality of education
outcomes in India across Grades I to 12, mainly focusing on Foundational Literacy and
Numeracy.
The Board has reviewed the objectives of the Charity and has complied with the duty in
Section 17 of the Charities Act 2011 to have due regard to the 'public benefit requirement,
guidance published by the Charity Commission and confirm these to be as follows:
al To make educational grants and the provision of educational services to children in
India; and
bl To manage the assets of the Charity to support the sustainable making of grants.
About Reach to Teach
Reach to Teach partners with State Governments in India and provides technical support at
scale to strengthen teaching and learning outcomes in Government schools through
innovative interventions.
Our vision is that every child will have access to quality education to become a confident social
citizen with improved life chances. Our mission is to improve education outcomes by making
learning joyful, and working with State Governments, partners, parents, and communities
with foundational learning skills at the core.
We believe every child has the right to quality education, and children learn best when they
see, touch, hear and feel. Enhancing teacher agency is critical to strengthen learning
outcomes. Engaging with stakeholders such as Governments, school leaders, teachers, and
communities plays a pivotal role in children's education. By using locally available resources,
leveraging the existing cultural context and strengthening teacher agency, we can create
joyfu I learning experiences for all children.
Our approach focuses on improving education outcomes through revamping pedagogy and
course content, capacity building of teachers, school heads and System officials, Foundational

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Literacy and Numeracy, developing accreditation frameworks for schools and creating a
Comprehensive School Transformation Programme for Grades I to 12 with an emphasis on
Learning Recovery and Learning Enhancement. To monitor and evaluate our work, we have
an embedded Monitoring Evaluation and Learning IMEL) framework for impact assessment
We use technology as an enabler and a multi modal approach by using existing tech
infrastructure in the State to create outreach.
Reach to Teach's work is aligned with the Indian Government's National Education Policy 2020
and it supports the United Nations Sustainable Development Goals 4 (Quality Education), 10
{Reduced Inequalities) and 17 {partnerships for the Goals).
Our Service Offerings
Reach to Teach'5 work revolves around three central pillars: Governance, Capacity
Development and Outreach. Additionally, we have a Comprehensive School Transformation
Programme (CSTPI that includes different components of the various pillars in line with the
ask of the State concerned.
The individual service offerings are as follows:
Accreditation: We design Accreditation Frameworks {based on NEP 20201 for State
Education Departments to objectively evaluate school performance and critical
areas of improvement using qualitative and quantitative indicators.
Leadership Development: We engage with school leaders and Head Teachers to
identify school improvement processes, build teacher capacity and strengthen
good governance.
Continuous Professional Development: Bespoke training modules are developed
after assessing the needs of head teachers, teachers and other system actors to
strengthen teaching practices and school governance.
Foundational Literacy and Numeracy: In consultation with all relevant
stakeholders, we design state-specific FLN/remedial interventions and carry out
training for efficient delivery of the programme.
School Readiness Programme: A six-week programme for Classes 1-5 at the
beginning of the academic year to re-engage teachers and children on their return
from school breaks. It focuses on interactive activities that ease children back into
the routine of learning in brick-and-mortar structures.
Learning Recovery Programme: Spanning Classes I to 12, the LRP is aimed at
bridging students, learning gaps, enabling them to achieve gr3de-appropriate
learning.
Learning Enhancement Programme: This aims to get children to perform at a level
above their grade.

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Reach to Teach also offers a composite service offering known as the Comprehensive School
Transformation Programme (CSTP) covering Grades I to 12 where the focus is on assessing
learning loss and bringing children up to grade-appropriate learning. By engaging with all
stakeholders in the education ecosystem the programme focuses on improving teaching and
learning outcomes, through academic reforms, capacity development, and governance
reforms.
Our Impact
Before engaging directly with State Governments in 2019, Reach to Teach had worked for
over a decade at the field level in Government schools in Gujarat. This work focused on
strengthening learning, community engagement and bringing out-of-school children into
formal schooling.
From 2019 our strategy changed, and we started working systematically with the Education
Departments of State Governments. This enabled us to leverage the learnings and
experiences gathered at field level over the preceding years and to take it to scale. We
transitioned from a localised approach to a State-wide model. Engaging directly with the
Government provided both the outreach and scale required to take forward this learning.
Today we work across 57,289 schools with 300,000 teachers and reach over 8.2 million
children.
Our Programmes
We have continued to work in Gujarat and Haryana for the last year. Our Indian subsidiary,
Reach to Teach Private Limited, also provided expertise and a donation to support the work
of the Indian charity, the Reach to Teach Foundation, in Arunachal Pradesh and Meghalaya.

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HARYANA (2021)
ARUNACHAL PRADESH
(2022)
GUJARAT (2007)
MEGHALAYA (2023)
Our work in each of these states is outlined below.
Gujarat
Reach to Teach has worked with the State Government of Gujarat since 2019. Our key focus
areas have been the Mission Schools of Excellence Programme, for which we are the
Academic and Technical Support Unit, strengthening the Accreditation Framework and
supporting the Gujarat Council of Educational Research and Training IGCERTI.
?? *ni
Jil Schools
Total Teachers
incl. Headteacher
1_,5 882
Children
The Mission Schools of Excellence Programme implemented by the Government of Gujarat is
a six-year programme which started in 2021 and is co-funded by the World Bank, the Asian
Infrastructure Investment Bank, and the Gujarat Government under the Gujarat - Outcome
for Accelerated Learning (GOAL) project. The programme aims to improve the quality of
education by transforming 20,000 government primary schools, and secondary and higher

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secondary government schools into centres of excellence. The emphasis of the programme is
on enhancing teaching and learning outcomes, strengthening school infrastructure and
resources, and providing innovative learning experiences for children. These schools serve as
the hubs for the improvement of satellite schools, and the interventions are being
implemented across the State for the benefit of all schools in a classic hub and spoke
approach.
The programme has four defined Disbursement Linked Indicators IDLI) under education and
as the Academic and Technical Support Unit, Reach to Teach is involved in designing and
delivering these key educational components of the programme.
During the last year, the key activities have been as follows:
Teacher capacity development: We carried out a second Training Needs Assessment
Report {TNA2), which was built on the first report last year. This showed an
improvement in learning outcomes as measured by the reduction in learning hard
spots from 180 last year to 133 this year. Based on the results of TNA2 we supported
GCERT with the deveSopment of training programmes for teachers which GCERT used
to train the 180,000 teachers in the state.
Assessment Reforms: We advised State Officials on student assessment and helped
develop training plans for 850 State Officials on conducting classroom assessments.
We also designed formative and summative assessments for Grades 3 to 8.
School Development Plans: We are supporting the preparation of School
Development Plans and the development of training plans for School Management
Committees which will be rolled out later this year.
For the last four years, Reach to Teach has been providing programme management support
for the implementation of the School Accreditation Programme known as Gunotsav 2.0. The
programme's objective is to design and develop a robust accreditation framework for
independent and objective validation of quantitative and qualitative parameters that define
school quality and lead to continuous school improvement.
We have closely supported the rollout of the programme, from design to implementation.
This has included advising on the training of state and district teams on understanding the
framework and developing training for the inspectors to carry out inspections and generate
report cards. Since 2019, four annual cycles of school accreditation for all 32,500 schools in
Gujarat have now been completed. The data analysis has provided valuable insights, which is
leading to continuous improvements in the schools.
In 2023 following the success of this programme, we were asked to help develop the
Accreditation Framework for secondary schools. A pilot across 120 schools was completed by
the end of 2023 and the first cycle for secondary schools is currently being rolled out.

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We have continued to support GCERT during the year in curriculum and material
development and designing training programmes. We assisted with the review of the State
Curriculum Framework and supported GCERT in identifying learning outcomes in Gujarati and
English (grades 6 to 8). For teacher training, we helped develop and facilitate the online
training for remedial teaching of Gujarati. We are also helping with creating materials, toys
and books for Foundational Literacy and Numeracy.
During last year, we have continued to support the Director of Primary Education with the
access to education programme. This has involved providing support with the pre-enrolment
survey and supporting the enrolment drive for the 2023-24 academic session by developing
attendance monitoring templates.
Haryana
-'1 Government Primary Schools IGrades 1-81
?oa40
01 r.7%1
Children
Total Teachers
incl. Headteacher
Haryana is in the northern part of India, and it has a population of 25.4 million people. It has
14,562 Government schools educating over 2.6 million children. Reach to Teach started work
with the Department of School Education (DSE), Haryana in 2021.
The National Education Policy 2020 mandated that each State establish a State Schools
Standard Authority to create an Accreditation Framework to enable school improvement at
scale. Reach to Teach has been working in close collaboration with the Government of
Haryana and has designed an Accreditation Framework based on our previous work. The
design of the framework focused on both qualitative and quantitative parameters to ensure
overall school improvement through the participation of teachers and other stakeholders.
The School Accreditation Framework was launched on 25 October 2023 during the launch of
the Pradhan Mantri Schools for Rising India (Pmshri) event held in Haryana. The event was
inaugurated by Shri Dharmendra Pradhan, Hon'ble Minister of Education, Government of
India and Shri Manohar Lal Khattar, Hon'ble Chief Minister of Haryana. The framework has
been successfully piloted and is now being rolled out acr055 the whole State.
During the last year we have also been developing a leadership development programme
covering about 2,400 government middle schools (Grades 6 to 8) across Haryana. This
programme includes the design of the training across all areas, including community
engagement, governance, budget planning, school improvement and the coaching and
mentoring of teachers.

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Recently we have been in discussions with the DSE about broadening out the work beyond
accreditation and leadership development into a Comprehensive School Transformation
programme. The DSE will decide thi5 later this year.
Arunachal Pradesh and Meghalaya
During the year to 31st March 2024, our Indian subsidiary, Reach to Teach Private Limited
continued to support the work of the independent Indian charity, the Reach to Teach
Foundation, through a donation of £48k and pro-bono support by its senior staff.
Reach to Teach Foundation works in partnership with the State Education Departments of
Arunachal Pradesh and Meghalaya to strengthen learning outcomes. The Foundation signed
a tripartite agreement with NITI Aayog (Apex Public Policy think tank of the Government of
India) and the Government of Arunachal Pradesh in 2022 and with the Education Department,
Government of Meghalaya in 2023 to design and roll out the Comprehensive School
Transformation Programme ICSTP) covering Kl2.
Arunachal Pradesh and Meghalaya face several challenges particularly low population
density spread thin over large areas, hilly terrain, limited road connectivity and intermittent
internet availability. The CSTP aims to impact 10,704 schools with over 500,000 children
across these two states
During the last year, the main activities completed in Arunachal Pradesh were a six week
School Readiness Programme for classes I to 5, a Learning Recovery Programme for Classes
I to 12 across all 3,061 schools in the state and the development of the Exams and Beyond
Toolkit's Teacher Handbook and Student Workbook for Classes 10 and 12.
To date the main activities in Meghalaya have been building a learning outcome-based
syllabus and competency based assessment framework for the state, the development of
teacher handbooks for classes I to 5, the rollout of a pilot survey on learning levels and advice
to the state officials on implementing NEP 2020.
Going forward Reach to Teach Private Limited intends to continue supporting the work of the
Reach to Teach Foundation, although it is anticipated that its donations to the Foundation
will reduce as the Foundation is now raising funds from other sources within India.
Financial Review
During the yearto 31 March 2024 total income was £249k (2023 £556kl. Grants and donation5
totalled £7k which was much lower than the previous year. In that year the Charity received
the final grant of £404k from the Larry Ellison Foundation ILEF). The Charity is working on

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securing new funding and expects funding in the current year to be substantially higher than
in the year to 31 March 2024.
Total expenses increased by 10 per cent from £1,891k in the year to 31 March 2023 to £2,078k
in the year to 31 March 2024. Within this total expenditure on charitable activities was
£1,804k and the spend on raising funds was £274k. In the year to 31 March 2023 Reach to
Teach spent a substantial amount on working with external consultants who helped with the
development of education content and this amount is shown separately in note 4. During the
year to 31 March 2024 education content has been developed by our own staff working on
the programmes and the cost has been included as part of the cost of these programmes.
The main areas of charitable activity during the year continue5 to be the work with the
Education Departments in Gujarat and Haryana. As Reach to Teach works in partnership with
these Education Departments our people are the critical resources and therefore staff salaries
are the main cost. The main areas of work in Gujarat were the Mission Schools of Excellence,
supporting the school accreditation programmes for primary and secondary schools and
supporting GCERT with developing the curriculum and material development. In Haryana the
work has focused on setting up the school accreditation programme and developing a school
leadership programme.
The net loss for the year was £1,829k12023 loss of £1,335k). The loss reflects the much lower
level of income and the fact that we continued to draw on the unspent grant brought forward
from earlier years. As a result net assets decreased from £6,521k to £4,693k and the main
change in the balance sheet was the reduction in the cash balances to £4,850k at 31 March
2024 from £6,176k at 31 March 2023.
Future Developments
As mentioned above, the final grant instalment of £404k received from the Larry Ellison
Foundation was reflected in the financial statements for the year to 31 March 2023. Reach to
Teach is very grateful for the support Larry Ellison has provided to Reach to Teach over the
last 16 years, which has enabled the organisation to grow from running small field-based
programmes in the State of Gujarat to one that works at a large scale with state governments
in India seeking to design and implement large scale system strengthening interventions.
As funding becomes available Reach to Teach aims to expand its work with State Education
Departments in India to design and implement Statewide system-strengthening interventions
in the states that face the most serious educational challenges.
Going forward, Reach to Teach needs to secure long-term funding. The Strategic Partnership
Team at Reach to Teach seeks to partner with bilateral agencies, Development Finance
Institutions, international NGOS and high-net-worth individuals who are passionate about

Reach to Teach
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improving foundational learning and numeracy, teaching quality and learning outcomes in
India. To date Reach to Teach has received two small grants from Team4Tech (received in
March 2023 and May 2024 respectively), a non-profit accelerator, bridging the digital
education gap to create opportunities for under-resourced learners. In addition to providing
funding Team4Tech has arranged for its volunteer partners to work with Reach to Teach to
help solve some of the problems in reporting pupil data and creating communities of practice
for teachers in states where internet services are poor. More recently, Reach to Teach has
been in advanced conversations with some international NGOS who have expressed interest
in the work of Reach to Teach and we expect to secure new funding from these sources within
the next 12 month5.
Reserves Policy and Going Concern
As a result of its scale, the Charity has significant legal, financial and moral commitments. The
main obligations are made under the Memorandum of Understanding with the State
Governments and the contractual obligations to our staff and other stakeholders.
The trustees have also considered whether any possible events might cast significant doubt
on the ability of the Charity to continue as a going concern. The Charity has unrestricted
reserves on its balance sheet of £400k. This is relatively small but the Charity is satisfied with
the position for two reasons. Firstly, the Charity holds substantial cash reserves which arose
from the funding received from the Larry Ellison Foundation (LEFI, which has not been spent.
At 31" March 2024, cash balances total £4,850k, which is sufficient to cover the costs of the
Charity at least until March 2026. Secondly, the trustees believe that the Charity will raise
funds in the next 12 months to secure its long-term future.
For these two reasons the trustees are satisfied that adequate resources will continue to be
available for the Charity for the foreseeable future.
Investment Policy
The grants received by the Charity from LEF are denominated in US dollars. Since most of the
Charity costs are in Indian rupees and the US dollar is aligned more closely with the Rupee
than the Sterling, our policy is to retain the majority of the cash funds in US dollars and only
convert a sufficient amount to Sterling to cover our UK based costs. Our financial statements
are denominated in Sterling, and since the US dollar weakened during the year (from an
exchange rate of 0.81 in March 2023 to 0.78 in March 20241, this contributed significantly to
the large unrealised105s shown in the financial statements.

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The Charity follows a conservative investment policy with its US dollar funds. Money is held
in deposit accounts and short-term fixed deposits with significant banks yielding market rates
of interest.
Risk Management and Assessment
The trustees have a duty to identify and review the risks to which the Charity is exposed to
and ensure appropriate policies and procedures to minimize these risks.
The Charitws risk framework is based upon the Charity Commission guidance. The written
Risk Register contains details of each risk, including an assessment of the existing controls and
monitoring activities and the further risk mitigation actions that will be put in place. Key
reputational risk management processes and contingency plans for priority risks have also
been developed. In addition, a monitoring and assessment process has been agreed upon,
which includes a detailed annual review of risks by the Executive Team and the Board.
The trustees believe that the risk framework provides an effective system to mitigate the risks
the Charity faces.
Details of the main risks and how these are managed are set out below.
Key risk
Details of risk
Management of risk
Availability of
funding to
sustain the
Charity
Funding risk,. Between 2007 and
2023, the Charity has had one
funder,
the
Larry
Ellison
Foundation ILEF). The grant
agreement with LEF has now
ended, and the Charity has cash
available to fund its activities until
March 2026, so it must raise
funding in the next 18 months.
The Charity has fundraising
teams in place in India and the UK
nd is in advanced discussions
with
severa I
international
organizations and foundations.
Black swan
Black swan events such as a
pandemic, natural disaster or war
disrupt the
Charitrfs
work
resulting
in
delays
and
repurposing of education budgets
for disaster interventions.
Covid learnings.. The Charity has
built
alternative
frameworks
using
online
processes and
digitalization of education.
Our geographical spread means
we will be less susceptible to
events in one State.
Staff security policy in place,
which includes c105e monitoring
of
employees,
travel
arrangements.
events
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Our operations are flexible, and
staff can be reassigned across
projects.
Safeguarding
risks
The risk of harm, exploitation or
abuse of an individual during or as
result
of the Charity'5
Safeguarding policy and reporting
procedures are in place with
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.
programmes.
Reputational
risks
Damage to our reputation would
affect our ability to work with
state governments and impact our
fundraising efforts.
Maintenance
relationships
stakeholder levels.
Clear policies and procedures to
manage interactions with the
media.
Contingency plans are in place to
manage reputational risks.
good
across
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Regulatory Details
Constitution
The Charity is a company limited by guarantee and
governed by its Memorandum of Association.
06002138
Company Number
Charity Number
1121101
Principal & Registered Office
Qwest, Unit 3.14, Great West Road, Brentford,
TW80GP
Board of Trustees
The Trustees, who are also the Directors under the Companies Act 2006, and who served
st
during the period from l April 2023 up until the date of signing this report were:
Rakhee Ditta {Chair)
Matthew Symonds (Deputy Chair)
Neha Aviral
Vijay Chhibber {resigned 12 September 20241
Arun Kapur (resigned 25 January 20241
Geeta Khehar
Executive Team and Key Management Personnel
The members of the executive team who served during the period from I, April 2023 up until
the date of signing this report were:
Chief Executive Officer: Ratna Viswanathan
Chief Operating Officer: Shikha Mathur
Principal Director of Finance: Anil Chaudhry tioined 21st August 20231
Principal Director of Programme Strategy and Operations: Bimlesh Kumar (resigned 30
October 20231
Principal Director of UK Operations and Finance: Peter Thomas
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Advisors to the Company
Bankers:
HSBC
Metro Bank
Pall Mall Commercial Centre
137 Chiswick High Road
5th Floor
London
70 Pall Mall
W4 2ED
SWIY 5EZ
Auditors:
PKF Littlejohn LLP
15 Westferry Circus
London E14 4HD
Legal Advisers UK:
Bates Wells Braithwaite
10 Queen Street Place
London, EC4R IBE
Legal Advisers India:
Ashwathh Legal
K19 Jangpura Extension
New Delhi 110014
Auditors India:
PKF Sridhar & Santhanam LLP
319, Third Floor, DLF Prime Towers
Okhla Phase I
New Delhi 110020
Accountants India:
Hasmukh Shah & Co
409-410, Dalamal Chambers,
New Marine Lines
Mumbai 400 020
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Structure, Governance and Management
Governing Documents
The organisation is a charitable company limited by guarantee, incorporated on 17 November
2006 and registered as a charity on 8th October 2007. The company was established under a
Memorandum of Association, which established the objects and powers of the charitable
company.
The Governance of the Charity
The governance practices are set out in the Reach to Teach Board Handbook. The Board
Handbook is in line with the Charity Governance Code issued in July 2017 by the steering
group of charity umbrella bodies. The purpose of the Handbook is to assist the trustees in
fulfilling their responsibilities and serve as a point of reference for all key aspects of the
Charity's governance framework.
The Board and Management of the Charity
All major decisions relating to funding, strategy, financial plans and policies are taken by the
trustees of the Charity. During the year, formal meetings of the trustees were held at regular
intervals. The trustees also conferred regularly by telephone, e-mail and at informal meetings.
The Charity has a formal nomination procedure for selecting new trustees. In identifying
potential new trustees, the Board looks to bring in people with experience in education,
institutional relations resource mobilization and Edtech.
The day-to-day management of the Charity is entirely delegated to the Chief Executive Officer
(CEO), and she is supported by an experienced executive team. The Charity's executive team
is based in India and London. The India team includes the Chief Executive Officer, the Principal
Director of Finance and four staff at Director level whose responsibilities include programmes,
HR, Strategic Partnerships and Communications. The Principal Director, UK Operations and
Finance is based in London.
Indemnity Insurance
The Charity has indemnity insurance in place, which provides cover for all the trustees and
employees.
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Remuneration Policy und Senior Staff Remuneration
The details concerning the remuneration paid to the Chief Executive during the year and the
executive team are disclosed in the financial statements. The trustees carry out their duties
on a voluntary basis.
The key principle of the Charity's remuneration policy is to attract and motivate staff with the
skills and expertise to ensure the delivery of the Charity's objectives while ensuring that pay
levels and pay increases are appropriate in the context of the interests of our beneficiaries.
In relation to deciding remuneration for the Charity's senior staff, the Charity takes into
account the following principles:
To ensure that the Charity can access the skills and experiences it requires in its senior
staff.
Pay is one part of a package that includes personal development, personal fulfilment
and association with the public benefit delivered.
The Charity has disclosed in note 7 the total remuneration of the executive team.
Resource Mobilization Artivities
During the year, the Charity received a grant from the Economist Charitable Trust of £6,133
and donations totalling £1,569.
The Charity does not actively seek to raise funds from the public, and in recent years there
have been very few donations from the public. As outlined above, the Charity is diversifying
its f unding.
The Charity complies with the Charities (Protection and Social Investment} Act 2016, including
the guidance outlined by the Charity Commission for England and Wales (CC20 and CC15dl
regarding trustee duties and reporting, respectively. The Charity has never received a
complaint regarding its fundraising approach from the general public or any corporates or
foundations. It also does not employ any third-party organization to conduct fundraising on
its behalf.
Trustees, Responsibilities in relation to the Financial Statements
The trustees (who are also directors of the Charity for the purposes of company law} are
responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards {the United Kingdom
Generally Accepted Accounting Practice).
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Company Law requires the trustees to prepare financial statements for each financial year,
which give an accurate and fair view of the State of the affairs of the charitable company and
of its income and expenditure for that period. In preparing these financial statements, the
trustees are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards, including FRS 102, have been followed,
subject to any material departures disclosed and explained in the financial statements;
state whether a Statement of Recommended Practice (SORPI applies and has been
followed, subject to any material departures which are explained in the financial
statements;
prepare the financial statements on a going concern basis unless it is inappropriate to
presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps to prevent and detect fraud and other irregularities.
None of the Trustees had any beneficial interest in any contract to which the organization
was a party during the year.
In so far as the Trustees are aware:
there is no relevant audit information of which the charitable company's auditor is
unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves
aware of any relevant audit information and to establish that the auditors are aware of
that information.
Auditors
PKF Littlejohn LLP has indicated their willingness to continue in office and are deemed to be
reappointed in accordance with section 487{21 of the Companies Act 2006.
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Small Company Exemption
This report has been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 and in accordance with the Financial Reporting Standard 102 (effective
January 20191.
th
This report was approved by the Board of Trustees on 12 September 2024 and signed on
their behalf by
Ms Rakhee Ditta, Chair
COMPANY NUMBER: 06002138
17

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF REACH TO TEACH
Opinion
We have audited the financial statements of Reach to Teach {the 'parent charitable company,) and ils
subsidiaries (the 'group'l for the year ended 31 March 2024. which comprise of the Consolidated Stalement of
Financial Activities lincorporaling an income and expenditure account). the Consolidated and Parent
Charitable Company Balance Sheets, the Consolidated and Parent Charitable Company Cash Flow
Statements and notes lo the financial slatemenls, including significant accounting policies. The financial
reporting framework that has been applied in their preparalion is applicable law and United Kingdom
Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic
of Ireland {United Kingdom Generally Accepted Accounting Practice>. In our opinion, the financial statements..
give a Irue and fair view of the state of the group's and the parent charitable company's affairs as at
31 March 2024, and of the group's incoming resources and application of resources, 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 in accordance with the requirements ofthe CompaniesAct 2006 and the Charities
Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UKI) and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities
for the audit of the financial slatements section of our report. We are independent of the group and parent
charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olher ethical
responsibilities in accordance with these requirements. We believe that Ihe audit evidence we have obtained
is sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing Ihe financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial stalemenls is appropriate.
Based on the work we have performed, we have nol identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the groLSP'S or parent charitable
company's ability to continue as a going concern for a period of at least twelve months from when Ihe financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other informatlon
The other information comprises the information included in the truslees, annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information contained
within the trustees, annual report. Our opinion on the financial statemenls does not cover Ihe other information,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the
other information is materially inconsislent with the financial statements or our knowledge obtained in the
course of the audit, or othe￿iSe appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements. we are required to delemine whelher this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude
Ihat there is a material misslatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course of the audii-
the information given in the trustees. report, which includes the directors. report prepared for the
purposes of company law. for the financial year for which the financial statements are prepared is
consistent with the financial statements., and
the directors, report included within the trustees. report have been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exception
In the lighl of the knowledge and understanding of the group and parent charitable company and their
environment obtained in the course of Ihe audit, we have not identified material misstatements in the directors,
report included within the trustees, annual report.
We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 and
the Charities Act 2011 requires us to report to you if, in our opinion..
adequate and sufficient accounting records have not been kept by the parent charitable company, or
returns adequate for our audit have not been received from branches not visited by us., or
the parent charitable company's financial statements are not in agreement with the accounting records
and returns; or
certain disclosures of trustees, remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies. regime and take advantage ofthe small companies, exemptions in preparing the directors,
report and from the requirements to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Trustees. Responsibilities statement in relation lo the Financial Stalements, the
trustees {who are also the directors of the charitable company for the purposes of company law) are
responsible for the preparation of the group and parent charitable Company financial statements and for being
satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary
to enable the preparation of financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the group and parent charitable company financial statements, the trustees are responsible for
assessing the group and parent charitable company's ability to continue as a going concern, disclosing, a5
applicable, matters related to going concern and using the going concern basis of accounting unless the
truslees either intend to liquidate the group or the parent charitable company or to Cease operations. or have
no r8alistic alternative but to do so.
Auditor's responsibilitles for the audit of the financial statements
We have been appointed audilor under the Companies Act 2006 and section 151 of the Charities Act 2011
and report in accordance with those Acts and relevant regulations or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always delect a material misstatement when il exists. Misslalements can arise
from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statemenls.
Irregularities, including fraud, are instances of nonwcompliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities. including fraud. The e￿(ent to which our procedures are capable of detecting irregularities,
including fraud is detailed below..

We obtained an understanding of the group and parent charilable company and the sector in which
they operate lo identify laws and regulations that could reasonably be expected to have a direct effecl
on the financial statements. We obtained our understanding in this regard through discussions with
management. seclor knowledge and application of cumulative audit knowledge and experience.
We determined the principal laws and regulations relevant to the group and parent charitable company
in this regard to be those arising from Companies Act 2006, Charities Act 2011, Financial Reporting
standard 102, the Charities SORP and relevant employee legislation.
We designed our audit procedures to ensure the audit team considered whether there were any
indications of non-compliance by the group and parent charitable company with those laws and
regulations. These procedures included. but were not limited lo enquiries of management, review of
minutes, review of legal and regulatory correspondence.
We also identified the risks of material misstatement of the financial statements due to fraud. We
considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management
override of controls. that there was a potential for management bias in the timing of recognition of
grant income. We addressed this through review of grant income to ensure correct treatment under
the Charities SORP, including consideration of the accounting period in which income should be
recognised.
We also identified potential for management bias in the judgments made around recoverability of
debtors. We addressed this through examination of post year end cash received, review of
correspondence with deblors and discussion of recoverability with management.
We also identified potential for management bias in the allocation of support costs against charitable
activity categories. We addressed this through reviewing Ihe method used for reasonableness, and
re-performing the calculation to ensure it had been perfomied accurately in line with the slated method.
As in all of our audits, we addressed the risk of fraud arising from management override ofconlrols by
performing audit procedures which included, but were nol limited to.. the lesling of journals.. reviewing
accounting estimates for evidence of bias. and evaluating the business rationale of any significant
transactions that are unusual or outside the normal course of business.
Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that Compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al: www.frc.or
.uklaudilorsres
onsibililies. This description forms part of our
audilor's report.
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the
charitable company s members those matters we are required lo slate lo 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 anyone,
other than the charitable company and the charitable company's members as a body, for our audit work. for
this report, or for the opinions we have formed.
Alastair Duke (Senior Statutory Auditor)
For and on behalf of PKF Littlejohn LLP
Statutory Auditor
15 Westferry Circus
Canary Wharf
London E14 4HD
18 October 2024

Reach to Teaeh
Consolidated Statement of Financial Activities
For the year ended 31st March 2024
(incorporating an income and expenditure account)
Note Unrestricted Restricted
Funds
Funds
31441ar
2024
Unrestricted Restricted
Funds
Funds
31-Mar
2023
Income From:
Grants and Donations
Investment incorne
1,569
241,766
6.133
7,702
241.766
416.579
416,579
139,961
139,961
Totsl
243.335
6,133
249,468
139,961
416,579
556.540
Expenditure On:
Ralslng Funds
Charitable Actlvltles
274,305
1.803.738
274,305
1,803.758
18
60
244,475
1,646,903
244,493
1.646,963
20
Total
20
2,078.043
2,078.063
78
1.891,378
1.891,456
Net Income for the year
243,315 12.071.910) (1,828,595)
139.883 11.474,799) 11,334,916)
Totsl funds broughtforward
1S
158,598
6.362.824
6,521,422
18.715
7,837,623
7 856.338
Total funds carried forward
15
401,913
4.290.914
4,692,827
158.598
6,362,824
6,521,422
All gains and losses arising are included in the slalemenl of financial a¢liviti¢s and arise ffom continuing a¢livities.
The slalement of financial activities for the Charity is Sel out in note 2.
The notes on pages 24 to 33 fom part of these finan¢ial stslemenls.
21

Reach to Teach
Balance Sheets as at 31st March 2024
Group
Charity
Company number: 06002138
Note
2024
2023
2024
2023
Fixed assets
Tangible assels
Investments
Fixed deposits with banks
11
12
10.118
16,427
967
785,871
795,989
16,427
967
Current Assets
Debtors and prepayments
Cash al bank and in hand
13
108.693
4.064.450
4,173,143
698,037
6,175,631
6.873,668
223,633
3,897,899
4,121,532
806,285
5,197,172
6,003,457
Current Liabilities
Creditors.. amounts falling due
one year
230,174
319.789
40,880
58.486
Net Current Assets
3,942,969
6.553,879
4.080.652
5,944,971
Creditors.. amounts falling due after
one year
14b
46,131
48,884
Total Net Assets
4,692,827
6.521,422
4,081.619
5,944.971
Funds
Restricted funds
Unrestricted funds
15
15
4,290,914
401,913
6.362,824
158,598
3.756.978
324,641
5,810,557
134,414
Total Funds
4.692,827
6,521.422
4,081,619
5,944,971
These financial slatements have been prepared in accordance wrth the Provisions applicable to
companies subject to the small companies, regime.
The company has taken exemption from presenting its unconsolidated profit and loss accounl under
section 408 of Companies Act 2006. The net loss of the parent for the year amounted to £1,863,352
(2023.. net loss was £1,488,280).
The financial statements were approved by the trustees. and authorised for distribution. on 12th
September 2024 and signed on their behalf by:
akhee Ditta
Trustee
The notes on pages 24 to 33 form part of these financial statements.
22

Reach to Teach
Cash Flow Statement as at 31st March 2024
Group
Charity
2024
2023
2024
2023
Notes
Net cash providèd by
operating actlvities
A (1.561.301) {1.918.026) {1,486,791) (1.899,2981
Cash flows from investing actlvities
Interest received
Cost of purchasing tangible fixed assets
Net cash inflowl(ouffiow} from investment activities
241.766
5,775
235,991
139.631
14.080
125,551
188,678
1.160
187.518
115,699
115,699
Net oufflow in the year
At 1 April 2023
Al 31 March 2024
(1.325.310) (1.792,475) (1.299,273) (1,783.5991
6.175,631
7.968,106
5,197,172
6.980.771
4.850.321
6,175,631
3,897,899
5.197,172
A Reconciliation of net oporating income to net cash flow from operating activities
Group
Charity
2024
2023
2024
2023
Net income
Loss on sale of tangible fixed assets
Sale proceeds of tangible fixed assets
Interest received
Forex revalualion of fixed assets
Depreciation charges
Movement in corporate tax
Movement in debtors
Movement in prepayments
Movement in Greditors
Net cash provided by operating activities
(1.828,595) (1.334,916) (1,863,352) (1,488,280)
222
134
83
94
{241.766)
(139,631)
453
1377)
11,328
14.774
5.396
(2,876)
182.556
{37,625)
406.788
(409.477)
97,766
8,126
1,561,301
1,918,026
{188,678)
(115,6991
193
1,230
178,846
403,806
17,606
1,486,791
109,633
1404,618)
1,564
1.899,298
Analysis of changes in net debt
Opening cash balance
Cashflow in the year
Closing cash balance
,175.631
1.325,310
4,850.321
7,968,106
1,792,475
6,175,631
5,197,172
1,299.273
3.897,899
6,980,771
1,783,599
5,197,172
23

Reach to Teach
Notes to the Financial Statements
For the year ended 31st March 2024
1 Accounting Policies
al Basis of preparation
These financial slalements for the period 1 April 2023 10 31 Marth 2024 are prepared on a going concern basis
under the historical cost convention. The Charity is incorporated in the UK.
The financial slatemenls have been prepared in accordan￿ with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 1021. The Charitable Group is a public benefit group for the purposes of
FRS 102. Therefore the Charity also prepared its financial statements in accordance with the Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {The FRS 102 Charities SORP. 2nd Edilionl,
the Companies Act 2006 and Groups {Accounls and Reports) Regulations 2008 ISI 20081410). the Charities Acl
2011.
b) Going Concem
The Iruslees have assessed whether the use of going concern is appropriate and have considered possible
events or conditions that might cast significant doubl on the ability of the Charity lo continue as a going concern.
The Iruslees have made this assessment for a period of al least one year from the dale of approval of these
financial statements. In particular, the trustees have considered the Charitys cash position and financial
forecasts. At 31 March 2024 Reach to Teath held cash balances of £4,850k which is sufficient to cover the
group's costs until at least March 2026. Also. while the funding from the Larry Ellison Foundation has now
ended, the Charily has made good progress in fundraising and expects to secure funding in the near future.
As a result, the trustees have concluded that there is a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for Ihe foreseeable future. The Charity, therefore. continues to
adopt the going concern basis in preparing ils financial slalements.
c) Criti¢al accounting estimates and areas of judgement
In the application of the group's accounting policies the Iruslees are required to make judgements, eslimales
and assumptions, particularly in respect of the depreualion of assets and accruals. These judgements,
eslimales and associated assumptions are reviewed on an ongoing basis and are based on historical
experience and other factors that are considered lo be relevanl.
The principal accounting policies adopled in the preparation of the financial statements are sel out below.
dl Income
Income is included in the Statement of Financial Activities when the Group has an enlillement to the funds., the
amount can be quantified. and the receipt is probable.
el Expenditure
Liabilities are recognised once there is a legal or construdive obligation lo transfer economic benefit lo a third
party, il is probable Ihat a transfer of economic benefits will be required in setllemenl and the amount of the
obligation can be measured reliably. All expenditure is accounled for on an accruals basis and has been
classified under headings that aggregate all cosls relaled to Ihe category.
fl Allocation of overhead and support costs
Oveihead and support costs are allocated between the cost of raising funds and charitable aclivilies. A small
percentage of senior staff time is allocated to fundraising and this percentage is then applied to the total cost of
salaries and the related overheads lo delermine the total cost of raising funds.
gl Temiination payments
Termination payments lo slaff are recognised in the financial statements when they are incurred. Al the year
end. any lerminalion payments agreed but not paid are accrued in the financial statements.
h) Fundraislng
Fundraising expenditure consists of Ihe costs of raising funds. induding an apportionment of overhead and
support costs.
il Charitable Activities
Costs of charitable activities include the dired costs and slaff cosls related lo our education programmes, the
development of our education content and new initiatives together with an apportionmenl of overhead and
support costs.
24

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
11 Tanglble Flxed Assets and Depreclation
Tangible fixed assets are stated al cost less depretialion. Depreaalion is provided at rates calculated lo write off a
percentage of the carrying amount of the asset each year al the followng rates..
Fixtures & Fittings
33Dh straight line
Computer equipment
33Vh straight line
The Charity only capilalises ilem$ ￿$ting more than £250. Batches of items below this threshold are immediately
expensed to SOFA.
kl Penslon costs
The Charity provides the option of contribution into the employees, personal pension plans for all employees. The pension
cost charge represents contributions payable by the organisalion into the individual stakeholder plans.
11 Fund Accountlng
Unre51rided funds are available for use al the Trustees. discretion in lurtheiance of the general obiectives of the Charity.
Reslricled funds are funds that are lo be used in accordance with specific reslridions imposed by donors. The aim and
use ol each reslricled luntj is sel oul in note 15 of the finan￿31 statements.
ml Operating leases
Rentals paid under operating leases are charged lo the income and expenditure account on a slraighl-line basis over the
period of the lease.
n) Olher flnanc5al Snstruments
i. Cash and cash equivalents
Cash and cash equivalents include cash al banks and in hand and short term deposits with a malurily date gf Ihiee
months or less.
Debtors and creditors
Dgblors and creditors receivable of payable wlhin one yèar of the reporting dale are earried al their transaction priee.
Debtors and creditors that are receivable or payable in more than one year and not subject lo a market interest rale are
measured al the present value of the expected fulLbf6 reeeipls or payments discounted 41 a market rale ol interest.
ol Foreign Exchangt Pollcy
The grants received from the L8rry Ellison Foundation paNI lo the Charity in US dollars and the cash remaining from
these 9ranls are held on deposit. Most of the Chariws costs are in Indian rupees and il incurs some cosls in slerlin9. The
pollcy Is lo convert the dollars periodically lo Indian rupees and slerling to fund the Indian and UK operations as required.
2 Ststemgnt ol Financial Actlvltles for the Pargnt Charlty lexcludlng Indlan Subsldlaryl
Unre$trl¢tod Restricted 31-Mar
Funds
Funds
2024
Unrestrlcted Restrl¢led
Fund$
Funds
31.mar
2023
In¢omo Frorn:
Grants and Donatlons
Investments
1,569
188,678
6.133
7.702
188,678
416,579
416,579
11 S.699
115,699
Total
190.247
6.133
115,699
416.579
532,278
Expend5turo On
Raising Funds
Charitable Actlvitlos
65.067
65.￿7
20 1,994.645 1.994.665
18
66.979
60 1,953,501
66.997
1,953.561
Total
20 2.059.712 2.059.732
78 2,020,480
2,020,558
Net income for the year
190.227 {2,053,579111,863.352
115.621 11,603,901) 11,488,280)
Total funds brought fotward
134.336 5,810,635 5.944.971
18,715 7,414,536
7,433,251
Total funds carrled forlvard
324.563 3,757,056 4,081,619
134,336 5.810,635
5,944,971
3 Grants
Grants and Donations includes a grant from the Economisl Charitable Trust of £6.133 and other donations of £1.589.
Last year Granls ar5d Donations consisted ol Iwo amounls.. £404.400 1$500.0001 which was the final amount received
from the Larry Ellison Foundation under the lemis of the grant agreement signed in July 2018, and £12,179 1$15,0001
was a grant from Team4Tech.
25

Reacli to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
4 Charltable Actlvltles
Dlrect
costs
Stsff
costs
Support
Costs
31-Mar
2024
Y&ar to 31st March 2024
Government Programmes
Education Conlenl Developmenl
91,510
958.609
753.619
1.803,738
753619
(See Note 51
1 803 738
(See Nole n
Dlrect
costs
Staff
costs
Support
Costs
31-Mar
2023
Year to 31st March 2023
Government Pfogrammes
Education Conlenl Developmenl
1,140.210
167,368
14.753
33,657
1.154 963
201025
(See Nole 71
{See Note 51
In the year lo 31 March 2024 the development of educalion ¢onlenl development was carried out by our own
slalf as part ol the work on Government Progfamme$. Last year we engaged a third party lo help us develop
core malerials that would be used acros5 all programmes.
1,371,218
275,745
1646 963
227.335
290.975
S Support C¢yJis
Charltablo
Activities
Ral$lng
Funds
Basls of
allocatlon
31-Mar-24
Year to 31st March 2024
Sialf costs (Nole 71
Travellin9
Rent and office related costs
Communications and IT
Re¢ruilmenl Fees
Foreign exchange loss
Consulling and piofessional lees
Legal lees
Depre¢ialion
Audit and accounling19ovemance costs)
Corporate lax
Donalion by Reach lo Teach Private
Limited lo Reach lo Teach FoUndat￿n
Miscellaneous costs
171.127
171.127
75.335
203.141
15.877
693
191.647
168.273
2.722
11,327
29,598
66,024
75.335
172,670
13,495
589
191,647
104.106
1,626
9,628
28,154
66,024
30,471
2,362
104
64,167
1,699
1.444
48,050
42.295
753.619
48,050
44,110
1,027,924
1.815
274.305
Charltable
Actlvltles
Ralslng
Funds
Basss of
allocatlon
31-Mar-23
Year to 31st March 2023
Staff costs INole 71
Travelling
Rent and office rolaled costs
Communications and IT
Recruilmenl Fees
Foreign exchange gain
Consulting and professional fees
Legal lee5
Depre¢ialion
Audrt and accounting Igovemance coslsl
Corporate tax
Donalion by Reach lo Teach Privale
Limited lo Reach lo Teath Foundation
Miscellaneous costs
156.091
1 56.091
104,670
186,025
20,014
4,154
1409.4251
166,414
15.375
14.774
30,104
59.543
104,670
163,702
17,612
3,656
1409.425)
106.589
15.023
13.001
28.894
59.543
22.323
2,402
498
59.825
352
1.773
1,210
51.672
46,088
201.025
51.672
46.107
445,518
19
244.493
lil Slaff lime is allocated lo 'Raisirg Funds. based on the approximale allocalion of staff lo this aclivty.
li1} Based on actual costs.
liiil Costs apportioned based ¢)n lolal dI￿¢t and staff costs.
26

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
6 Trustees. and Key Management Remuneration
No remuneration was paid to trustees during the year.
Details of trustee expenses are set out below
31-Mar
2024
Number
31-Mar
2023
Number
31-Mar
2024
31-Mar
2023
Expenses paid for Trustees
7 Staff costs
In the year, the Key Management Personnel of Ihe Charity were the Chief Executive Officer, the Principal
Director of Finance. the Chief Operating Officer. the Principal Director. Programme Strategy and
Operations (resigned November 2023) and the Principal Director, UK Operations and Finance. Staff
costs include the following amounts paid to the executive team=
Note
31-Mar
2024
31-Mar
2023
Wage5 and salaries
Termination and redundancy payments
Social security costs
Employers, pension contribution5
Staff Medical Insurance and other benefits
406,910
428,995
14,968
21,985
815
443,048
20.783
23,921
12,870
486,569
Total salary costs for Ihe group are set oul below
31-Mar
2024
31-Mar
2023
Wages and salaries
Social security costs
Employers. pension contributions
Other employee benefits
Total staff costs
1,049.993
13,689
57.180
8,874
1,129,736
1,195,507
19,866
69,148
26,533
1,311,054
Total staff costs
Charitable aclivities
Raising funds
958,609
171,127
1,129,736
1,154.963
156,091
1,311,054
Included in the above figures for wages and salaries were the emoluments of the Chief Executive
Officer who served during the year of £147,904 (2023.. £154,508). The number of staff who received total
emoluments over £60.000 were as follows..
Number of
staff in Year
to 31 March
2024
Number of
staff in Year
to 31 March
2023
Bands
£60,000- £70,000
£100,000- £110,000
£150,000- £160,000
27

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
8 Staff numbers
The average number of employees analysed by function was".
31-Mar
2024
Number
30.0
31-Mar
2023
Number
27.0
Charitable activities
Raising funds
9 Net Income for the Year
31-Mar
2023
31-Mar
2023
The result is staled after charging..
Auditor's remuneration
Auditor's remuneration - in respect of the subsidiary
Loss {Gain} on exchange
Operating leases
Depreciation
12,000
7,970
191.647
127.961
11.328
12,060
7,957
1409,425)
141,103
14,774
10 Taxatlon
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 Acl 1992, to the extent that such
income or gains are applied exclusivety to charitable purposes. No UK tax charge arose in
the period. However, rts subsidiary. Reach to Teach Private Limited. is liable for Indian
corpofalion lax at 25 % on ils profits. The charge for Indian corporation tax was £66,024
11 Tangible Flxed Assets
Group
Fixtures
& Fittings
Computer
Equipment
Total
Cost
As at 1 April 2023
Exchange revaluation
Additions
Disposals
As at 31 st March 2024
519
(19)
85,812
(2,637)
5,775
1,927
86,331
{2,656}
5,775
1,927
87,523
500
Depreciation
As at 1 April 2023
Exchange revaluation
Charge for the year
Disposals
As al 31st March 2023
211
(8)
77
69.693
(2.195)
11,251
1,624
77,125
69,904
(2,203)
11,328
1,624
77,405
280
Net Book Value
As al 31st March 2024
As at 31st March 2023
220
308
9,898
16,119
10,118
16,427
28

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st Mareh 2024
11 Tangible Fixed Assets (continued)
Charity
Computer
Equipment
Total
Cost
As al 1 April 2023
Additions
Disposals
As al 31st March 2024
11.955
1.160
11.955
1.160
13,115
13,115
Depreciation
As al 1 April 2023
Charge for the year
Disposals
As al 31st March 2024
11,955
193
11.955
193
12,148
12,148
Net Book Value
As al 31st March 2024
As al 31st March 2023
967
967
12 Investments
R2T Overseas Limited (Company number 063018621
Nature of business.. Investment of charitable funds into India
2024
2023
holding
100
holdlng
100
Class of Share.. Ordinary
Aggregate capital and reserves
Result for the year
363
363
The fixed asset investment relates lo the investment in a wholly-owned subsidiary. R2T Overseas Limited, a
limited company registered in England and Wales. whose regislered office is at Qwesl, Great West Road,
Brentford, United Kingdom, TW8 OGP. The company, in tum, conlrols the Indian company, Reach lo Teach
Private Limited. Reach lo Teach Prtvate Limited provides staff and operational resources lo support the activities
of the Charity in India and has ils registered office at Raj Chamber, 5th Floor. New Nagardas Road, Mogra
Pada, Andheri East. Mumbai 4CrfJ)53, India.
The investments by the subsidiary company R2T Overseas Limited at the balan￿ sheet date in the share capital
of companies indude the following..
Reach to Teach Private Limited
Nature of business.. Investment of chaTilable funds to advance education amongst children and young persons in
India.
Country o11nco￿oTrI1On.' India
2024
2023
holding
holding
Class of Shares
Ordinary (beneficially owned)
The remaining 10/0 of the share capital of Reach lo Teach Private Limited is owned directly by the Reach lo
Teach parent entity.
99
99
29

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
12 Investments (continued)
Results for the year ended 31 March 2024
Internal income (fees paid by Reach to Teach)
Investment income
Total income
Administrative expenses
Operating profit
Corporate tax
Results for the period
Total funds brought forward at 1 April 2023
Total funds carried forward at 31 March 2024
2024
2023
1,616,322
53,088
1,669.410
(1,625,803
43,607
(66,024)
(22,4171
524,936
502,519
1,989,035
24,262
2.013.297
{1,927,426
85.871
{59,543)
26,328
498,608
524,936
Balance Sheet at 31 March 2024
Fixed assets
Fixed deposits with banks
Ciirrent Assets
Debtors
Cash at bank and in hand
Curenl Liabilities
Creditors.. amounts falling due within one year
Inlercompany payable
Net current assets
Creditors.. amounts falling due within one year
Total net assets
Capital and reserves
Share capital
120,347
Profit and loss reserve
502.519
Shareholders funds
622.866
The profit was generated by a mark-up on the operating expenses incurred in India.
13 Debtors
Group
9,151
785.871
16,427
1C6,745
166,551
350,530
978.459
(185.6011
(213.721)
126.026
46,130
622,866
(252,7301
(398,2141
678,045
148.882
645,590
120,347
524.936
645.283
Charity
2023
2024
2023
2024
Other Debtors
Tax recoverable (i)
Amounts due from group companies
Prepayments and Accrued Income
87,107
37,989
231,674
7,010
1,363
213,721
398,214
21,586
428,374
2,902
406,708
108.693
698,037
223,633
806,285
The lax recoverable balance of £231.674 in 2023 relates to Goods and Service tax IGST) paid by the
Indian subsidiary, Reach to Teach Private Limited, on the purchase of goods and services and this
amount was recovered from the Indian government in the year to March 2024.
14a Creditors: amounts falling
Group
due within one year
Charity
2023
2024
2023
2024
Creditors and Accruals
Taxes and social security
Amounts due to group companies
Corporation tax
187,713
31,258
268,991
44,991
39,075
1.442
363
51,995
6,128
363
11.203
5,807
230,174
319,789
40,880
58,486
Included in the accruals figure is an amount of £605 (2023.. £1,063) in respect of outstanding pension
contributions.
30

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
14b Creditors: amounts falling
due after one year
Group
Charity
2024
2023
2024
2023
Creditors and Accruals
46,131
48.884
15 Funds
Group 2024
BIFwd
Income
Expenditure
CIFwd
Restricted Funds
Other donations and other income
Grant income
314.826
6.047.998
6,133
(2,078,043} {1,757,084}
6,047,998
Total restricted funds
Unrestricted Funds
6,362.824
158,598
6,521,422
6,133
243,335
249.468
(2,078,043)
20)
{2,078,063)
4,290,914
401.913
4,692,827
Group 2023
BIFwd
Income
Expenditure
CIFwd
Restricted Funds
Other donations and other income
Grant income
314,826
7.522.797
314,826
6,047,998
416,579
1,891.378
Total restricted funds
Unrestricted Funds
7,837,623
18.715
7,856.338
416.579
139,961
556.540
(1,891,378)
78
{1.891,4561
6,362,824
158,598
6,521,422
Charlty 2024
BIFwd
Income
Expenditure
CIFwd
Restricted Funds
Other donations and investment income
Grant income
268,770
5,541,787
6.133
{2,059,7121 (1,784,809)
5,541,787
Total reslricted funds
Unrestricted Funds
5.810,557
134.414
5,944,971
6,133
190,247
196.380
(2,059,712}
20
(2,059,732)
3,756,978
324.641
4,081,619
Charlty 2023
BIFwd
Income
Expenditure
CIFwd
Restricted Funds
Other donation5 and investment income
Grant income
268,770
7.145.766
268,770
5,541,787
416,579
2,020,558
Total restricted funds
Unrestricted Funds
7.414,536
18,715
7,433,251
416.579
115.699
532,278
(2,020,558)
5,810,557
134,414
5,944,971
(2,020.558)
Grant income.. This fund arose by way of grants made to the charity to pursue the charity's objects
within specified regions in India.
Other donations and interest= This income will be used to support the charity's charitable activities in
2024 and onwards.
31

Reach to Teaeh
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
16 Net Assets Split
Group 2024
un￿StrICted
Funds
Restricted
Funds
Total
2023
Tangible Assets
Fixed deposits wilh banks
Prepayments & Accrued Income
Other Debtors
Cash at bank and in hand
Creditors
10,118
785,871
21,586
87,107
3.664,105
276,305
4.292.482
10,118
785,871
21,586
87,107
4,064,450
276,305
4,692,827
400.345
400,345
Group 2023
Unrestricted
Funds
Restricted
Funds
Total
2023
Tangible Assets
Prepayments & Accrued Income
Other Debtors
Cash al bank and in hand
Creditors
16,427
428,374
269.663
6,017,033
368,673
6,362.824
16.427
428.374
269,663
6,175,631
368.673
6.521,422
158,598
158,598
Charity 2024
Unrestricted
Funds
Restricted
Funds
Total
2023
Tangible Assets
Prepayments & Accrued Income
Other Debtors
Cash al bank and in hand
Creditors
967
2,902
220,731
3.573,258
40.880
3.756,978
967
2.902
220,731
3,897,899
40.880
4,081,619
324.641
324,641
Charity 2023
Unrestricted
Funds
Restricted
Funds
Total
2023
Tangible Assets
Prepayments & Accrued Income
Other Debtors
Cash at bank and in hand
Creditors
406,708
399.577
5,062,758
58,486
5,810,557
406,708
399,577
5,197,172
58,486
5,944,971
134,414
134,414
32

Reach to Teach
Notes to the Financial Statements (Continued)
For the year ended 31st March 2024
17 Related Parties
One thousand shares in Reach to Teach Private Ltd (India) are held by R2T Overseas Limited, which
is a subsidiary of Ihe Charity.
To dale, almost all of the Charl￿S funding comes from the Larry Ellison Foundation I'lhe
Foundation"). During the year to 31 March 2023, the Charity received the final grant of £404.400 from
the Foundation under the grant agreement signed in July 2018 and amended in March 2023. The
grant agreement sets out the detailed lemis and conditions with which the Charity musl comply. The
key terms are a requirement to provide regular progress reports, including a detailed report on
activities and expenditure each year.
18 Lease commitments
At 31 March 2024 the Charity had total commitments under non<ancellable operating leases as
follows..
2024
2023
Operating leases expiring..
Within one year
Within one to five years
7.283
168.884
96,335
36,190
33