REGISTERED COMPANY NUMBER: 06451416 (England and Wales) REGISTERED CHARITY NUMBER: 1124500 Report of the Trustses and Unaudited Financial SLitgmgnts forthe Ygar Ermlgd 31 December 2024 for Education for All Morocco Limited Iliams & Co Epsorn LLP Chartered Accountants 8-10 South Street Epsom Surrey K[18 7PF Educatlon for All Morocco Limited Contents of the Financial SL*ements for the Year Ended 31 DÈcember 2024 Page Report of the Trust￿8 Independent Examlnetrs Report Slatement of Financlal Acilvhles Balance Shoot 10 Cash Flow Ststement Notes to the Cash Flow Statement 12 Notes to the Flnanclal Statements 13 10 19 Education for All Morocco Llmlted Report of the Trustee5 for the Year Ended 31 December 2024 The trustees who are also directo￿ of tIE thartEy for the purpose5 of the Companies Act 20CE. present their report with Ihe finanual statements of the charity for the year ellded 31 December 2024. The tiuslees have adopted th& provisions of Accounting and ReFX)rling by Charities.. Statement of Recommended Practice applicable to charities pr8P8ring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeGlive 1 January 2019). OBJECTIVES AND AcTIV￿lEs The objeGtives of the charity as sel out in the Memorandum & Articles are To ralse funds to help finance NGOS to provide edurAtlon and accommodation and other seThices for cthldren to attend educational establishments in Morocco.. EFAM achieves this by raising funds for partner NGOS based in MOr￿cO who operate boarding houses and other organis8ts.ons supporting the education of marginalised girfs. The charity has focused on girts a5 Ihey are disproportionately affected by the lack of access to education. resulting in child maniages. Sexual exploitation. and a low ability to partiapale in the labour force 119.70A cf. 68.7Vo for menl- ISource.- World 8anK 20231. Providing access to education tackles this perpetual cycle of inter*nerational wjverty, which enables girls to enter the job market and become productive memboTS of the workforce. Since 2007. Ihe Irustees and management of EFAM have gained extenswe experience and significant knowledge of Morocco and how to operate NGOS there. We have forged strong relationships with relevant instilutions such as the United Nab"ons in Rabat, UNICEF. connectioris to Moroccan royalty and governmenL and other rejaled NGOS. Extensive due diligence based on UK Charity Cornmission guidance is performed on all oiganisations with whom EFAM collaboT8tes. Once a partnership agreement is signed. our oversight continues throughout the period of collaboration. and EFAM provides not only fvnding but also ￿0bal marketing reach and other Operat[￿al support. At the end of 31.12.24 EFAM were supwrting a tctsl of 362 grH$ in Morocco through their cooperation ￿th three partner NGOS.. Local NGO partner 1: Assoclatlon Educat5on for All Assoclatlon IAEFA) set up and run girfs. boarding houses localed near to secondary schools. Girls aged 12-18 li￿n9 in the remote villages of the High Atlas K4ountans in Morocco have limited access lo secondary schools. Poor roads, lack of transport and povety me8n that the girls 8re unable to access the SchC￿lS in ￿e faraway towns. The gids board in AEFA'S houses during the week. where they are supported by House Mothers and volunteers. Al the weekends they are transported back to their home villBges to stay with their families. The houses provide a supportive, homely atrnosphere with three nLrtritious meals a day. clean L￿d5. and hot shDwers. The gids do their homework and ieceive study and language support from staff and volunteers in the well-resourced study rooms. The houses are extremely successful with girls thriving in a happy and 5UPlX)rtive environm￿ They go c￿t to achiev8 good grades, places at university and high*ualily jobs. More infomiation on AEFA can be found al hllps:Ilwww.efamt)rocco.orgIour-pmiectslass￿1ati0n-educatIDn-fOr-all Local NGO partner 2- Association pour la Scolari5atlon de la Jeune Fllle Rurale (ASJFR) own and run a boarding house in Mairakech for 236 university students and girts aged 12-18 from rural areas. Girls showing promising aG4demrc potential from some of the Most remote and underserved reglons of Morocco. including Zagor2 and the Sahara. have the opportunity lo access secondary education The Tr￿U$e provides a safe, structured, and nurturing environrnent. with termly boarding In good quality accommoda￿on, good nutrition, ard medical & denlal rare. The h(MJ5e Provides excellent qualty bjition in a wde range of subjects to support high achievement in whiGhever dlrection the gids choose. and lo go on to higher educaticfft and meaningfiJl careers. More informalion on ASJFR can be found at httpsjknv.efamorocco.orglour-proiectslassoclation-scolaire-jeune-fille-rural Local NGO partner 3: Centre Malaika Marrakech focuses on chfldren Down's syndrome from early Child1￿0d lo aéulthood. providing the suppcKt necess8ry for integration into socrely and the workforce. The Cenlre's approach indudes specialist educ81ion for reading. writing and mathematics, therapeutic interventions from a team of physiotherapists therapists. and vocational training q)porttJnities to equip students with realpworld 5ki515 for fulure employment. Mor& information on Centre Malaika can be found al htlPs..IA￿￿y.efaM0rLKcL>.oT9loU[-pr0jects/ce￿tre-￿a￿gik8 Page 1 EdU￿￿10n for All Mororco Limited Report of the Trustees for the Year Ended 31 December 2024 Highlights & Milestones Signrficant highlights and milestones in the charitable 8clivities funded by EFA Morocco Lld are shown below. 2007 EFAA rents a small apartment and provides accommodatirm for 10 ￿lIs. 2008 AEFA l￿￿dS and operts 1st boarding house in Asni. 2009 2nd house ￿nted In Taat n Yacoub on long term lease for another 30 gtls. 3rd boarding hwse built in 2010 in Ouirgane, funded ty long-term supporters. Nigel Parker & Ann6 Bolitho. 2010 2013 AEFA rents a 4th house in Asni, accommodating 40 girfs. First 6 AEFA girfs pass their Baccalaureate and go on to uThversity. Cuve ￿dertOn, Brittsh AmbaSs￿l0rto MrKocu ts EFAA Patron between 2013-2016. 2016 5th house built in Asni, which tske5 UP to SO girfs. 2017 Her Majesty's Ambassador to Morocco. Thomas Reilly. is EFAA pat￿ 2017-2019. 2018 Hous8 visits from Moroccan Minister of Educatmjn and Ilght HOn(x￿able Aistair Burt from the UK. Grant received from DFID wa cooperation wilh the British Embassy in Rabat. Commencement of long-lemi funding partnership with Intrepid 2019 The Duke & Duchess of Sussex (Hary & m￿han) vksit AEFA houses as part of their State Vlslt to Morocco. Prince Hary presents Founder & Trustee Mike McHugo with MBE for his w(Yk promolng gender equality in Morocco. which he acttpts on beha￿ of 81 of Educalion For AJI. 6th house Exjilt In T￿31 n Yacoub with legacy dona1ion from Wynn family in memory of Ma Wynn 2020 His Majesvs Ambassador to Moroccq Simon Martin CMG. becomes EFA Patron. AEFA lac￿eS COVID parKlemic by SUFplying iPads to ￿rIS to conts'nue their studies onllne. 2022 Dame Hays (Hays Travel) pknlges 3 Interr￿hIps over 3 years for AEFA graduates. 2023 All 6 boarding houses are deslroyed or badly damaged in the September earthquake in Al-Haouz region. AEFA ￿mMenceS erTwency recovery and rents 2 properties in Chwiter for Interkn use as boarding houses. 2024 AEFA increases the number of rented woperties lo 6. h￿s￿ng a total of 198 girls by the year AUStra￿an Amb8ssa(Jc* HE Michael Cutts vi8its AEFA'S Ouirgane boarding house fdl¢)wlng DirecA Aid grant. Page 2 Educatlon for All Morocco Limited Report of the Trustees for the Year Ended 31 December 2024 2024 ACHIEVEMENTS Partne￿hIp agreements In 2024, we have begun Implementing a new strategic directN)n. In the aftemiath of the e8rthquake, il became clear Ihat diversifying our operaknons was essenti81 to mitsgaling futwe risks of dependency on one local partner NGO and to accelerate and increase OUT Impaci. As a result. two projects were added during the year. In November. 8 partnership agreement ￿ds signed with ASJFR. a large-scale boarding house in Marraketh serying 236 girls demonslrBting strong academic potential from a broad geographical rural area. including Zagora. 50Vo of the operational c051s of ASJFR will be funded by EFAM for a 3-year period. It was fell by Ine management and truslees that it was important to expaThJ diversity of EFAM: to Greate more inclusive educational opportunities for gills, however marginalised. In December, following visits and due diligence, EFAM signed a 3-year partnership agreement with Centre Malaika in Marrakech to support 45 girts with Down's Syndrome. Impact The year has been one of signthcant dlallenges, re5ilien¢e, and grovAh for EFAM. In the wake of the devasladng 2023 earthquake, rnuth of the year was ftxused on recovery efforts in support of our core pather, AEFA. At the start of the year. AEFA 5trategcally shifted to temporary rental actt)mmOdatio￿ lo engble the giris lo retum to schoDI as quickly as possible following the disasler that destroyed 5 out of Ihe 6 boarding houses. Navigating the complex and often uncertaln landscape. frequently with limited inforrnatlrm from local authorities in ernergency response mode, required extraordinary flexfjbilty and determination from the team in county. Despite these considerable challenges. AEFA successfulty completed the academ￿ year ￿￿th six operatlonal houses. collectively offering a capacity for 198 students. Most notably, 1000/0 of the 26 girls enrdled in 8accalauieate graduated in July 2024. This outstanding result is a powerful testsment lo the tireless efforts of AEFA'S dedicated team. the resilience and commilment ol the girfs, and the unwavering support of their families. AEFA ASJFR Centre Malalka 30% Total Proportton of costs funded by EFAM Level of funding provided by EFAM Number ofgids supported by EFAM Number of local staff funded by EFAM Nutnber of boarding houses Bacralaureate pass rdte (national average 720￿) Gi￿S graduating Baccalaureate in year funded by EFAM Glrfs grad￿atIng Baccalaureate Sin￿ EFAN stsrted fvnding Gids graduating university (Masters) sin￿ EFAM started fundin Girts on university scholarships 100Yo 50% £416k £61k £40k £517k 198 118 46 362 21 10 37 1 Icentrg) nla 100 100 26 nla 26 702 nla 702 nla 13 10 nla 10 Once they le8ve education, AEFA and ASJFR glrls have wogressed to Worthwhi￿ and Impresslve careers, gI￿n9 bad( lo the community in which Uw live. University scholaTrhips Another Important mile51cAke has been the expansion of our universty scholarship progamme. In partnetshlp with a committed donor, we have been able lo offer addrbonal scholarships trj students attendiThJ Superior Institutions of Science & Technology (SIST). the first Brttish university in MOTOCCO. which awards degrees from Cardrff MetTopolitan Univ8rslty. This iniliative is set to grow further, wih the donor partnerslwp exiendrng beyoThJ 2025 to support even more students in the yeaTS ahead. Page 3 Educallon for All Morocco Llrnlted Report of the Trustees for the Year Ended 310ecember 2024 New website A new website was developed for EdLJcalion for AJI Morocco Ltd. svhith focu5e5 on revenue generati￿ and has dedicated pages relating to our three Moroccan partners. This allows our partners lo substantially increas8 the awareness of their organisalions wth globa reach. The websbte in¢orporates our new branding and logD, which have been updated lo a Modem aesthe￿ and lo differenbale EFAM from AEFA as tA¥o separate but linked organisalions. Safeguarding is a prominent fealure on the website, with its own page to refiect the Imi￿rtar￿ that the trustees attach to wellbein9 and safeguarding policies and practices. FINANCIAL REVIEW The results for Ihe year and finana81 po&l￿n of the charity are as shomn in the annexed financial slatements. Gross income for the year tot8lled £682.3k, of £63.8k 19.4%) was investment incm. This Compares to 2023 gross income of £1,326k. whith was inAaled due to the generosily of donors in the aftemiath of the devastating Al-Haouz earthquake in September 2023. The majority of these funds were resth.cted by donors to recovery of the capacity lost through the earthquake. Operating expenditure during the year of £81.9k represented 12.0'/o of gross income (2023 £61.8k, 4.70hl Total donations of£524.7k {2023 £176A(I were made lo crtjr three lo¢al partner NG05 in Morocco. Reserves Policy The Reserves Policy of EFA mor0￿0 Ltd is based UF(Jn an ongoing risk assessment of the intemal and extemal operating environment lo 8nsure financial stabilty- The Board of TTuslees considers that a target level of reserves of £641k. equlvalent to 12 months of opeTating expenditure linciudirvJ charitable activitsesl rs prudent. This would enable local partner NGOS to complete the 2024125 academic year, and allow for unforeseen emer9enaes or maintenance costs, fluctuati￿8 in income. and financial commitments in the event of the chartty dosing. Total funds held al 31.12.24 are £1,638k. of which £743k a￿ restricled according to donors, wishes. leaving £895k unr88tricted and available for general use. This is above the largel level of reserves. and the tnjstees have taken steps to expand the use of funds to increase impact in line with the chaity's objective Invastment Pollcy Funds are invested In short-lemi. low-risk investments prDwding a high levd of capital security in OTder to preserve capital whilst maximising reium for the furtherance of EFAM's objeclives. Atl investrnents are held with reputable financial institutions who are regulated by the UK Financial Conduct Authority. As appropriate. the Board of Trustees reviews interest rates and compares wlh other secu￿, non-equity, invesiment opportunities. Any other investments are only considered wth the support of independent expert advice from a Charity Investment Speualisl. In all such cases. funds musl be invested eihically and based on environmgntal, social and govemance (ESGI princiF4es. Prlnclpal funding sources Th8 SOUr￿S of income dur￿9 the year were Dmalions from schools and indbvidual donors133.6%). Online appeals such os Global Giving130.N), Grdnts from large foundations (26.3%). and Inve5trnent income19.4%). We continue to diversfy fvjnding streams to provide stsble and sustainable incDme for the charitys aciivities. Going concern The trustees consider the comFYdny to be a gong concem based upon the level of reserves and income and expenditure forecasts. Current ￿sOurceS and strong control over expendiiure provide the charity with resilien￿ ta withstand any signifiwit downtum ki funding in the next 12 ThI￿th5. Page 4 Educatlon for All Morocco Limited Report of the Tluslees for the Year Ended 31 December 2024 Risk5 & Uncertainties The Board reviews the risk register on a quarterty basis. The prtntipal financial risks and uncertainties facing EFA Morocco Ltd, a5 identified by Ihe trustee5, together with Flanned mbtigation for managing those risks is summarised in the table below. Potentlal Risk Possible Impact Mitigation Inability lo spend dorsated funds Promptly due lo lack of availability of suitable land for reconstruu11￿ of boarding houses destroyed by earthquake. Build-up of rese￿eS causes loss of cOnfvjen￿ of stakeholders suth a5 donors. Rental of properties whilst land for construclion of permanent houses is sour￿. Effective donor communications lo explain the reasons for delays in ex enditure. Diversffjicalion of funding sources induding website appeals, Social medhq, events, foundats'on grant applications. & ￿rpOrate onsorshi TransactlDn limits & financial oversight controls on bank accounts. Investments held in UK FCA regulated institutions. Anti-mcney laundering & due diligence. and anti-bribery & corruption poliues. Inlemal fiiancial controls such as se re ation of duties. Due diligence perfomied before signing partnership 8greements. Quartedy management & acwunts reporting. Annual accounts prepared by independent accountants. Regular site visits by MD. AML, DD. anti-bribery & corruption olicies. Reduction in funding andlrK increasing costs due lo inflation. Insufficient funds lo rebuild boarding houses and maintain operations. Financial crime in EFAM Loss of funds. Reputational risk. Financial crime In partner NGO In Morocco L(￿ of fiJnds al local level. Repulatsonal risk to10&g1 NGO and EFAM. PLANS FOR FUTURE PERIODS The trustees have referred to th8 advice ￿ntsIned in the Charity Corrffiission's guidance on public benefit when reviewng tha charity's &ms and obj8ctives, and when making plans for (uture periods all activities are undertaken for the objective of furthering th8 charity's purposes for the PU￿1¢ benefiL Looking ahead, our focus ui 2025 wll be on expanding our pro1￿1 b￿e wilh tsvo io three additional inilialive5, while aLs0 consolidating our CUTrenl operations and diversifying funding streams. Our three CO￿ areas of impact-boarding houses. educatiM centres. and scholarships-wll reman Central to our mbsston. To ensure long-tern sustainability, we are also shifung towards partnerships with larger corporats and private foundations and looking to introduce Zakat-cornplianl funding. This is an important funding source which must be managed carefully in accordance wilh Shariah principles. so a globat Shariah advisory fimi has been appointed lo work towards certification for Zakat compliance. The enhancement of data ￿lleC(lOn, analysis and reporting will be an area of focus in 2025 to provide major funders wlth the information they ￿Qu&re, and to better highiighl the impact of Ihe work (bjne by ead) of the projects. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The tharity is controlled by its goveming documen( a deed of tru5L and constitutes a limited (r)mpany. limited by guarantee, as defined by the Companies Act 201￿. Page 5 Education for All MorDCCO Limlted Report of the Trustees for the Year Ended 31 December 2024 Recrultment and appointment of new trustees Trustees are appoinled ￿a a process of recommendation andlor recTufanent to skills requlremenls. Before the appointment commences, a formal meeting takes place with the exisbng trustees lo ènsure the new trustees fully understand their responsibilities and duties. As part of their inducb.on and training. new trustees are referred to the Charity Commission'5 guidan￿ and website and are given EFAM'S Trustees Manual. The Manual sets out the overall framework, poliryes. and prucedures by which the charity is govemed and through whith operations are scrutinised, and outlines the trustees, role & responsibilibes, code of conducL and Ffflnciples of delegation. With the gtt)wth of the charity, Ihe BoaTd of Trustees ￿Cognised the need to strengthen its composition arKI in April 2024, Louise Nash joined as Chair of the Govemance & Nominations Committee. She is a corpordte partner with the global law firm Covington & Burfing LLP, and has comprehensive board experience p8rticularfy in the areas of global expansion strategy. fimi brandlng & marketing. Complian￿ HR. The trustees have corKlucled WOTk lo identify skills which are lad(Ing or need to be strengthened C￿ the Board and as a result are recruiting fvrther trustees wilh complementary expertise. In AL¢gusl 2024. Samira El-Hachioui re￿gned from the Board after SerV￿g since 2019. to lake on the role of Managing Direclor of EFAM. Organlsatlonal structure The charity has six trustees who are volunteers and are unpaid for their truslee's duties. There are three maln Commillees reporting lo the Board of Twstees. covering tknernance & Nominalh)ns, Finance, and Education. The Chair of Tru51ees also holds the key PDsition of Safeguarding Trustee. The Board of Tnjstees mel 10 times during the year. An annual strategy weekend is held, which takes place in Marrakech and onables thjstees, local NGO partners and staff to come together to devdop the Charills project delivery. The ChaTtty employs a Managin9 Director a￿1 an Operalons Cotydinator. They are supported through a regular arrangement by a freelance Governance Manager and freelance Madcelng Manager. Other contractors for IT. website Maintenan￿ and other specialist advice are utilised when required. The pay and iemuneration of EFAM'S key personnel are set by ihe Remuneration Committee. who consSOer slmilarfy sized charity benchmark5 to ensure pay is in line with market rates. Patrons The British Ambassador to Moro¢co. SSmon Marlin CMG conlinues his patronage of EFA Morocco Ltd. Zina Benchei (MD EME4 Intrepid Travel) remains the second Patron. Wlder network The charity Is promoted thrrAJgh ils website, soo81 rnedia. newslettets. tharitable events, and other appropriate means. Related partles The Charity works with and donates funds lo three local partner NGOS. Association Education f¢x All. Associ8tion pour la Scolarisation do la Jeune Fille Rurale, and Centrp Malaika Marrakech, to support the provision of educalion to marginalised girls in Morocco. REFERENCE AND ADMINISTRATIVE DETAILS Regist8rgd Company number 06451416 (England and Wales). Rogistar8d Charlty number 1124500 R8gistered office Clo Williams & co 8110 South Street Epsom Surrey Eff18 7PF Page 6 Educatlon for All Morocco Llmlted Report of the Trustees for the Year Ended 31 December 2024 Twstees M J McHugo Tnjstee Dr A J Dimberline Tnjslee K Targaoui Trustee (resigned 201312024) S Gover5 - El Hachi￿1 Trustee (re￿gned 311812024) T Reilly Truslee L Wynn Trustse N Taylor TnJ5tee Ms L Nash Trustee lappoirted 914120241 Independent Examiner Williams & Co Epsom LLP Chartered Accounlants 8-10 Soulh Street Epsom S￿￿eY KT18 7PF Legal Adviser5 Covington & Burflng LLP 22 Bi5hopsgale London EC2N 4Ba Bankers HSBC Bank plc 75-77 High St Sutton Surrey SM1 1DU R8POrt of the truste directors, on ..... incorpordting a strategi¢ report. approved by order of the board of trustees, as the company ..u)£fand signed on the board's behalf by: L Wynn - TTUStee Page 7 Independent Examiner% Report to the Trustee5 of Education for All Morocco Limited Independent examinevs report to the trustees of Education for All Morocco Limited fihe Company'l I report to the charity trustees on my examination of the accounts of the Ccmpany for Ihe yeaT ended 31 December 2024. Respon51bilitie5 and basls of report As the charity's trustees of the Company land also ils director5 for the Pu￿OseS of company lawl you are reswns1E￿e hr the preparation of the accounts in accordance wth the requirements of the Companies Act 2006 {'Ihe 2006 Art). Having satisfied myself that the accounts of the Company are not required to be a￿lted unéer Part 16 of the 2006 Acl and are eligible for independent examination, I report in respect of my examination of ycur charity's aca)unts as carried out under SeGtion 145 of the Charities Act 2011 I'lhe 2011 Act )- In Carr￿ng out my examination I have followed the Directions given by the Charity ComMis￿On under Seclicm) 145(5) Ib) of the 2011 Act. Indèpèndent examlneffs ststement Since your charity's gross in￿rne exceeded £2￿).(￿)0 your examlner must ￿ a member of a listed body. I can confinn Ihat l am qu21ified to urLdertake the examination because l am a member of th& Institute of Chartered Accountants in England and Wales, whlch 15 one of the listed bodie& I hav8 completed my examination. I confim) Ih81 no matters have come to my attention in connection with the examination giviThJ me cause lo believe-. accounting records were not kept in respect of Ihe Company as required by Section 386 of Ihe 2006 Act,. or the accounts do not accord with those records", or the accounts do not c(mply the accounting requirements of Section 396 of ts 2006 Act other than any requirement that the accounis give a true and fair view vhjich is not a matter considered as part of an independent examinalion- or the accounts have nol been prepared in aceA)rdance wlh the methods and prinaple5 of the Statement of Recommended Practice for accounting and reporting by charities (applicable lo ch81ities preparing their accounts in accordance with the Financial Repo￿.ng Standard applicable thi the UK and Republic Df Ireland IFRS 1021). I have no ¢T)ncems and have come a(TOSS no other matters in ￿)nectiOn with the examination to which attention should be drawn in this rewrt in order to enable a proper uThJerstantfing of the accounls to ￿ ￿aChed. Paul Smith Bsc FCA The Institute of Chartered Accountants in Eng18nd aThJ Wales Illiams & Co Epsom LLP Chartered Accountsnls 8-10 South Street Epsom Surrey KT18 7PF 2 July 2025 Page 8 Educatlon for All Morocco Limited Statement of Flnanclal Actlvltles for the Year Ended 31 December 2024 2D24 Total furKIs 2023 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donauons and legacies 417.394 201,166 618.560 1,320,999 Investrn8nt Income 63,751 5,402 Total 201.166 682311 1,32B,401 EXPENDITURE ON Raising funés 60.486 21.411 81.897 61.839 Charitable actlvltles Donations 411,666 113,Tr)0 Total 472.152 134.411 606.563 238,593 NEf INCOME 8.993 66.755 75.748 1,087,808 RECONCILIATION OF FUNDS Total funds brought forward 886,L￿7 676.483 1.562.550 474,742 TOTAL FUNDS CARRIED FORWARD 895,060 743.238 1,638,298 1.562.550 The noles form part of these financial statements Page 9 Education for All Morocco Limited Balance Sheet 31 December 2024 2024 Total funds 2023 Totsl fvnds Unrestricted fund Restricted hjnds Notes FIXED ASSETS Tangible assels 12 483 483 CURRENT ASSETS Debtors Cash at bank and tn hand 13 15.113 889,316 15,113 1,632.847 27.327 1,544.380 4.429 743,531 1.647,960 1,571,707 CREDITORS Amounts falling due within one y88r 14 19.852) (293) (10,1451 (9,1571 CURRENT ASSErs 894,577 743.238 1637815 1.562,550 TOTAL ASSETS LESS CURRENT LIABILITIES 895,060 743.238 1.638.298 1.562,550 NET ASSETS 895,060 743,238 1,638,298 1.562.550 FUNDS Unreslricted funds: General fund Restricted funds.. Restricted - AEFA Earthquake Fiecovery Restricted - AEFA Operational Cosls Restricted - EFAM Operational Costs Restricted - Volunteers E¥penses 15 895,060 886.(K7 731,457 850 9,309 1,622 676.483 743.238 676,483 TOTAL FUNDS 1,638.298 1.562 550 The charitable company is enb.lled to exemplion from audit under Section 477 of the Companies Act 20D6 for the year ended 31 December 2024. The members have not reqUI￿d the company to obtain an audit of its ffftancial statements for the year ended 31 De￿mber 2024 in accordance with Section 476 of the Companies Act 2006. The Iruslees ad 8,993 Restrlcted funds Restricted - AEFA Earthquake Recovery Restricted - AEFA Operational Costs Reslricteé - EFAM Operational Costs Reslricted - SIST Scholarships Reslricled- Vdunteers ExFenses 145,164 850 30.530 23,000 (90.190) 54.974 850 9,30g (21.2211 123,0001 201.166 1344111 TOTAL FUNDS 682.311 606,5631 75.748 Comparatives for movement in funds Net movement in funds At 31.12.23 At1.1.23 Unrestricted funds General fund 474,742 411.325 886.067 Restrlcted funds Reslricted - AEFA Earthquake Recovery 676,483 676,483 TOTAL FUNDS 474.742 1.087.808 1,562.550 Page 17 continued... Education for All Morocco Llmlted Nates to the Financial 5tstements - continued for the Year Ended 31 December 2024 15. mOVEmE￿r IN FUNDS- continued Comparative nel movement in funds. induded in the al￿ve aTe as fDI10￿￿. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 649.918 (238.593) 411.325 Rostricted funds Restricted - AEFA Earthquake Recovery 676,483 676.483 TOTAL FUNDS 1.326.401 2S8,593 1,087,808 A current year 12 months and prior year 12 rrthths combined positron is as follows: Net movement in funds At 31.12.24 At 1.1.23 Unrestrlcted funds General fund 474.742 420,318 895,060 R8stri¢ted fund5 Restricled - AEFA Earthquake Re¢overy Restricted- AEFA Operational Costs Reslricled- EFAM Operationd Cost5 Restricted- Volunteers Expenses 731.457 850 9.309 1.622 731,457 850 9.309 743.238 743.238 TOTAL FUNDS 474,742 1,163.556 1.638 298 A current year 12 monts and prior year 12 months combined net movement in funds. iicluded in the 8bove are as follows.. Inco￿￿ng resources Resour expended Movement in funds Unreslricted fvnds General fijnd 1,131.063 1710.745) 420,318 Restrlcted funds Restricted- AEFA Earthqu8ke Recovery Restricled- AEFA Operational Costs Restricled- EFAM Operational Costs Reslricled- SIST Scholarships Restricted- Volunteers Expense5 821,647 850 30,530 23.000 1,622 (90,1901 731,457 850 9.309 121.2211 (23.0001 1,622 877.649 134,411) 743,238 TOTAL FUNDS 2.IN)8,712 845,1561 1,163.556 Page 18 continued... Education for All MOTOCCO Limited Notes to the Financial Statements - contlnued for the Year Ended 31 December 2024 16. RELATED PARTY DISCLOSURES During the year, K Targaoui, a trustee of the ¢harfty Wds pald £NII (2023.. £10,442) for services relating lo recruitment and montioring of valunleers. These costs are Included rl charitable activities. PaJe 19