||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|





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|**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**||



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|**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<br>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<br>family in memory of Mark Wynn|



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|**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.|





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||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||



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|**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 of**re**-|||
|openings.|||
|Over-reliance on one partner**NGO**in|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|
|||**access**to 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.|





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|||||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||
|TOTAL**FUNDS**||||1,562,550|474,742|





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|||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|





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||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|





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|**DONATIONS AND LEGACIES**|||
|---|---|---|
||2023|2022|
||£|£|
|Donations|1,320,999|314,433|
|**INVESTMENT INCOME**|||
||2023|2022|
||£|£|
|Deposit account interest|5,402|684|





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||**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|





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|2023|2022|
|---|---|
|£|£|
|6,364|2,610|



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||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**|



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||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|
||TOTAL**FUNDS 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|
||TOTAL**FUNDS**|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|
||TOTAL**FUNDS**|1,326,401|(238,593)|1,087,808|





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|**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|
|TOTAL**FUNDS**|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|
|TOTAL**FUNDS**|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|
|TOTAL**FUNDS**|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|
|TOTAL**FUNDS**|1,641,518|(351,580)|1,289,938|





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