| Page | |
|---|---|
| Report of the Trustees | 1 to 9 |
| Report of the Independent Auditors | 10 to 11 |
| _Statement_of Financial Activities | 12 |
| Balance Sheet | 13 |
| Cash Flow Statement | 14 |
| Notes to the Cash Flow Statement | 15 |
| Notes to the Financial Statements | 16 to 21 |
| Education for All Morocco Ltd | Education for All Association(=partner NGO) |
|---|---|
| EFA-ML | EFA-A |
| Registered: UK | Registered: Morocco |
| Purpose: To raise funds to help finance NGOs | Purpose: to build/rent and operate boarding |
| to provide education&accommodation & other | houses_to allow girls in remote villages of the High_ |
| services for children to attend educational | Atlas Mountains to access secondary education |
| establishments in Morocco |
| 2007 | EFA-A rents a small apartment and provides accommodation for 10 girls |
|---|---|
| 2008 | EFA-A builds and opens first boarding house in Asni |
| 2009 | A large house in Talat n Yacoub, Tinmel 1, is rented on long term lease for another 30 girls |
| 2010 | EFA-A's third boarding house is built in 2010 in Ouirgane, funded through long-term supporters, Nigel Parker and Anne Botitho |
| 2013 | EFA-A opens another rented house in Asni in a converted block of apartments accommodating 40 girls |
| 2016 | EFA-A builds a 5th house, Asni 3, which takes up to 50 girls |
| 2019 | EFA-A's6thhouse, Tinmel 2, at Tlat-n-Yacoub is built and opened with a legacy donation by the Wynn family in memory of Mark Wynn |
| 2019 | The Duke and Duchess of Sussex (Harry and Meghan) visit the EFA boarding houses in Asni as part of |
|---|---|
| their State Visit to Morocco in February. | |
| Prince Harry presents Founder & Trustee Mike McHugo with his MBE for his work promoting gender | |
| equality in Morocco, which he accepts on behalf of all of EFA. | |
| 2020 | EFA-ML raises funds to supply final year students with tablets and sim cards so they can study for their |
| exams remotely during the pandemic. | |
| His Majesty's Ambassador to Morocco, Simon Martin CMG, becomes EFA Patron | |
| 2021 | Georgetown University students give three months of online support for EFA's social media marketing |
| and fundraising. | |
| Souljourn yoga starts a two-year Yoga Teacher Training Programme for EFA-A students. | |
| Girl Day Film is launched, made in collaboration with Sophie Martin. | |
| EFA-A girls finish their Summer of Discovery camp run by famous Moroccan mountaineer, Bouchra | |
| Baibanu. | |
| 2022 | EFA-A partners with Orbis and brings a group of women entrepreneurs to visit the EFA houses and give |
| workshops. | |
| Two more EFA-A students accepted to SIST university in Casablanca on full scholarships bringing the | |
| total girls on full scholarships to nine. | |
| Enrolment into university for the 10th year brings a total of 180 EFA-A girls going on to higher education. | |
| Dame Hays (Hays Travel) pledges 3 internships over 3 years for EFA graduates. | |
| EFA-A supports former students to start their first Alumni organisation. |
| Em | |
|---|---|
| Restricted funds (Repair & Rebuild of Boarding | |
| Houses) | 0.7 |
| Designated Funds (Rebuild of Boarding Houses) | 0.6 |
| General Reserves | 0.3 |
| Total Funds held at 31 December 2023 |
| Potential Risk | Possible Impact | Mitigation |
|---|---|---|
| Inability to spend donated funds | Build-up of reserves causes loss of | Effective donor communications |
| promptly due to shortage of building | confidence of stakeholders such as | to explain the reasons for delays |
| contractors and need to wait for | donors. | in expenditure. |
| decisions by Moroccan Government re: | ||
| new schools' locations & timing ofre- | ||
| openings. | ||
| Over-reliance on one partnerNGOin | Slows down the level of grants given, | 3-year recovery strategy |
| Morocco | reducing the potential positive impact. | incorporates the need to find |
| Reputational risk if partner closes, | new partners and projects which | |
| further the objectives of EFA | ||
| Morocco Ltd of supporting | ||
| accessto education. | ||
| Reduction in funding and/or increasing | Insufficient funds to rebuild boarding | Diversification of funding sources |
| costs due to inflation, | houses and maintain operations | including website appeals, social |
| media, events, founthtion grant | ||
| applications, & corporate | ||
| sponsorship. | ||
| Financial crime | Loss of funds. Reputational risk. | Double signatories on bank |
| accounts. | ||
| Investments held in UK FCA | ||
| regulated institutions. | ||
| Anti-money laundering & due | ||
| diligence, and anti-bribery & | ||
| corruption policies. | ||
| Internal financial controls such | ||
| as segregation of duties. |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 644,516 | 676,483 | 1,320,999 | 314,433 |
| Investment income | 3 | 5402 | 5,402 | 684 | |
| Total | 649,918 | 676,483 | 1,326,401 | 315,117 | |
| EXPENDITURE ON | |||||
| Raising funds | 4 | 61,839 | 61,839 | 56,953 | |
| Charitable activities | 5 | ||||
| Donations | 176,754 | - | 176,754 | 56,034 | |
| Total | 238,593 | 238,593 | 112,987 | ||
| NET INCOME | 411,325 | 676,483 | 1,087,808 | 202,130 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 474,742 | 474,742 | 272,612 | ||
| TOTAL FUNDS CARRIED FORWARD | 886,067 | 676,483 | 1,562,550 | 474,742 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 12 | 11,162 | 16,165 | 27,327 | - |
| Cash at bank and in hand | 884,062 | 660,318 | 1,544,380 | 475,947 | |
| 895,224 | 676,483 | 1,571,707 | 475,947 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 13 | (9,157) | (9,157) | (1,205) | |
| NET CURRENT ASSETS | 886,067 | 676,483 | 1,562,550 | 474,742 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 886,067 | 676,483 | 1,562,550 | 474,742 | |
| NET ASSETS | 886,067 | 676,483 | 1,562,550 | 474,742 | |
| FUNDS | 14 | ||||
| Unrestricted funds: | |||||
| General fund | 886,067 | 474,742 | |||
| Restricted funds: | |||||
| Repair and rebuild boarding houses | 676,483 | ||||
| TOTALFUNDS | 1,562,550 | 474,742 |
| 2023 | 7099 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 1,063,031 | 201,651 |
| Net cash provided by operating activities | 1,063,031 | 201,651 | |
| Cash flows from investing activities | |||
| Interest received | 5,402 | 684 | |
| Net cash provided by investing activities | 5,402 | 684 | |
| Change in cash and cash equivalents in | |||
| the reporting period | 1,068,433 | 202,335 | |
| Cash and cash equivalents at the | |||
| beginning of the reporting period | 475,947 | 273,612 | |
| Cash and cash equivalents at the end of | |||
| the reporting period | I ,544,380 | 475,947 |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Net income for the reporting period (as per the Statement of Financial | ||
| Activities) | 1,087,808 | 202,130 |
| Adjustments for: | ||
| Interest received | (5,402) | (684) |
| Increase in debtors | (27,327) | - |
| Increase in creditors | 7,952 | 205 |
| Net cash provided by operations | 1,063,031 | 201,651 |
| ANALYSIS OF CHANGES IN NET FUNDS | |||
|---|---|---|---|
| At1.1.23 | Cashflow | At31.12.23 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 475,947 | 1,068,433 | 1,544,380 |
| 475,947 | 1,068,433 | 1,544,380 | |
| Total | 475,947 | 1,068,433 | 1,544,380 |
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations | 1,320,999 | 314,433 |
| INVESTMENT INCOME | ||
| 2023 | 2022 | |
| £ | £ | |
| Deposit account interest | 5,402 | 684 |
| Raising donations and legacies | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Support costs | 61,839 | 56,953 | |
| 5. | CHARITABLE ACTIVITIES COSTS | ||
| Grant | |||
| funding of | |||
| activities | |||
| (see note | |||
| 6) | |||
| £ | |||
| Donations | 176,Th4 | ||
| 6. | GRANTS PAYABLE | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Donations | 176,754 | 56,034 | |
| The total grants paid to institutions during the year was as follows: | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Association Education for AU | 176,754 | 56,034 |
| 7. | SUPPORT COSTS | ||||
|---|---|---|---|---|---|
| Governance | |||||
| Management | Finance | costs | Totals | ||
| £ | £ | £ | £ | ||
| Raising donations and legacies | 54,918 | 557 | 6,364 | 61,839 | |
| Support costs, included in the above, are as follows: | |||||
| 2023 | 2022 | ||||
| Raising | |||||
| donations | |||||
| and | Total | ||||
| legacies | activilles | ||||
| £ | £ | ||||
| Wages | 37,000 | 34083 | |||
| Social security | 3,639 | 3,443 | |||
| Pensions | 923 | 994 | |||
| Sundries | 7,019 | 2,295 | |||
| Professional fees | 6,337 | 13,094 | |||
| Bank charges | 557 | 434 | |||
| Auditors' remuneration | 6,364 | 2,610 | |||
| 61,839 | 56,953 |
| 2023 | 2022 |
|---|---|
| £ | £ |
| 6,364 | 2,610 |
| Out-of-pocket expenses were reimbursed to trustees | as follows: | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||
| Number | Number | £ | £ | ||
| Travel | 3 | 1 | 2,418 | 900 | |
| Computer | - | 1 | 291 | ||
| 10. | STAFF COSTS | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Wages and salaries | 37,000 | 34,083 | |||
| Social security costs | 3,639 | 3,443 | |||
| Other pension costs | 923 | 994 | |||
| 41,562 | 38,520 | ||||
| The average monthly number of employees during the year was as follows: | |||||
| 2023 | 2022 | ||||
| Ad m in | 1 | 1 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 314,433 | 314,433 | |
| Investment income | 684 | - | 684 |
| Total | 315,117 | 315,117 | |
| EXPENDITURE ON | |||
| Raising funds | 56,953 | - | 56,953 |
| Charitable activities | |||
| Donations | 56,034 | - | 56,034 |
| Total | 112,987 | - | 112,987 |
| NET INCOME | 202,130 | 202,130 |
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | fund | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 272,612 | 272,612 | ||
| TOTALFUNDS CARRIED FORWARD | 474,742 | 474,742 | ||
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Prepayments and accrued income | 27,327 | |||
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Pension fund | 205 | 205 | ||
| Accruals and deferred income | 8,952 | 1,000 | ||
| 9,157 | 1,205 | |||
| 14. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At1.1.23 | infunds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 474,742 | 411,325 | 886,067 | |
| Restricted funds | ||||
| Repair nd rebuild boarding houses | - | 676,483 | 676,483 | |
| TOTALFUNDS | 474,742 | 1,087,808 | 1,562,550 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 649,918 | (238,593) | 411,325 | |
| Restricted funds | ||||
| Repair and rebuild boarding houses | 6?6,483 | 676,483 | ||
| TOTALFUNDS | 1,326,401 | (238,593) | 1,087,808 |
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.22 | in funds | 31.12.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 272,612 | 202,130 | 474,742 |
| TOTALFUNDS | 272,612 | 202,130 | 474,742 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 315,117 | (112,987) | 202,130 |
| TOTALFUNDS | 315,117 | (112,987) | 202,130 |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.22 | infunds | 31.12.23 | |
| £ | £ | £ | |
| tin restricted funds | |||
| General fund | 272,612 | 613,455 | 886,067 |
| Restricted funds | |||
| Repair and rebuild boarding houses | - | 676,483 | 676,483 |
| TOTALFUNDS | 272,612 | 1,289,938 | 1,562,550 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 965,035 | (351,580) | 613,455 |
| Restricted funds | |||
| Repair and rebuild boarding houses | 676,483 | 676,483 | |
| TOTALFUNDS | 1,641,518 | (351,580) | 1,289,938 |