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2025-12-31-accounts

REGISTERED COMPANY NUMBER: 06451416 (England and Wales) REGISTERED CHARITY NUMBER: 1124500

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Education for All Morocco Limited

Williams & Co Epsom LLP Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF

Education for All Morocco Limited

Contents of the Financial Statements for the Year Ended 31 December 2025

Page
Report of the Trustees 1 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Notes to the Financial Statements 14 to 21

Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

OBJECTIVES AND ACTIVITIES

The objectives of the charity as set out in the Memorandum & Articles are 'The advancement of education for the public benefit by the provision of grant funding for NGOs for the provision of accommodation and other services to enable girls and young women (up to the age of 25) to attend educational establis hments in Morocco.'

Our goal is to continue to improve access to education for marginalised and disadvantaged girls and young women in Morocco. We aim to deliver this goal through two outcomes: (i) Girls & young women from socially/economically disadvantaged backgrounds or geographically isolated regions have reduced barriers to education; and (ii) Associations / civil society organisations have capacity to enable a supportive environment for extra-curricular and extended independent learning.

Education for All Morocco Ltd (EFAM) achieves this by raising funds for delivery partner NGOs based in Morocco who operate boarding houses and other organisations supporting the education of marginalised girls. The charity has focused on girls as they are disproportionately affected by the lack of access to education, resulting in child marriages, sexual exploitation, and a low ability to participate in the labour force (19.7% cf. 68.7% for men). [Source: World Bank, 2023]. Providing access to education tackles this perpetual cycle of inter-generational poverty, which enables girls to enter the job market and become productive members of the workforce.

Since 2007, the trustees and management of EFAM have gained extensive experience and significant knowledge of Morocco and how to operate NGOs there. We have forged strong relationships with relevant institutions such as the United Nations in Rabat, UNICEF, connections to Moroccan royalty and government, and other related NGOs.

Extensive due diligence based on UK Charity Commission guidance is performed on all organisations with whom EFAM collaborates. Once a partnership agreement is signed, our oversight continues throughout the period of collaboration, and EFAM provides not only funding but also global marketing reach and other operational support.

At the end of 31.12.25 EFAM were supporting a total of 543 girls in Morocco through their cooperation with five delivery partner NGOs:

(1) Association Education for All Association (AEFA) set up and run girls' boarding houses located near to secondary schools.

Girls aged 12-18 living in the remote villages of the High Atlas Mountains in Morocco have limited access to secondary schools. Poor roads, lack of transport and poverty mean that the girls are unable to access the schools in the faraway towns. The girls board in AEFA's houses during the week, where they are supported by House Mothers and volunteers. At the weekends they are transported back to their home villages to stay with their families. The houses provide a supportive, homely atmosphere with three nutritious meals a day, clean beds, and hot showers. The girls do their homework and receive 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 supportive environment. They go on to achieve good grades, places at university and high-quality jobs.

More information on AEFA can be found at https://www.efamorocco.org/our-projects/association-education-for-all/

(2) Association pour la Scolarisation de la Jeune Fille Rurale (ASJFR) own and run a boarding house in Marrakech for university students and girls aged 12-18 from rural areas.

Girls showing promising academic potential from some of the most remote and underserved regions of Morocco, including Zagora and the Sahara, have the opportunity to access secondary education The house provides a safe, structured, and nurturing environment, with termly boarding in good quality accommodation, good nutrition, and medical & dental care. The house provides excellent quality tuition in a wide range of subjects to support high achievement in whichever direction the girls choose, and to go on to higher education and meaningful careers.

More information on ASJFR can be found at https://www.efamorocco.org/our-projects/ association-scolaire-jeune-fille-rural/

(3) Centre Malaika Marrakech focuses on children with Down's syndrome from early childhood to adulthood, providing the support necessary for integrat ion into society and the workforce.

The Centre's approach includes specialist education for reading, writing and mathematics, therapeutic interventions from a team of physiotherapists and therapists, and vocational training opportunities to equip students with real-world skills for future employment.

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

More information on Centre Malaika can be found at https://www.efamorocco.org/our-projects/centre-malaika

(4) Dar Moustaqbel provides two residences in Marrakech for female university students from rural areas and disadvantaged backgrounds. The residences provide safe housing, academic support, life skills training and the opportunity to pursue meaningful careers.

More information on Dar Moustaqbel can be found at https://www.efamorocco.org/our-projects/dar-moustaqbel/

(5) Association Selah based in Rabat, is dedicated to supporting society's most destitute. A joint collaboration between EFAM and Selah ran throughout 2025 with a group of 38 vulnerable students from an orphanage. The programme provided tutoring, mentoring and support for university pathways.

More information on Association Selah can be found at https://www.efamorocco.org/our-projects/association-selah/

Highlights & Milestones

Significant highlights and milestones in the charitable activities funded by EFA Morocco Ltd are shown below.

2007 - AEFA rents a small apartment and provides accommodation for 10 girls.

2008 - AEFA builds and opens 1st boarding house in Asni.

2009 - 2nd house rented in Talat n Yacoub on long term lease for another 30 girls.

2010 - 3rd boarding house built in 2010 in Ouirgane, funded by long-term supporters, Nigel Parker & Anne Bolitho.

2013 - AEFA rents a 4th house in Asni, accommodating 40 girls.

Clive Alderton, British Ambassador to Morocco is EFAA Patron between 2013-2016.

2016 - 5th house built in Asni, which takes up to 50 girls.

2017 - Her Majesty's Ambassador to Morocco, Thomas Reilly, is EFAA Patron 2017-2019.

2018 - House visits from Moroccan Minister of Education and Right Honourable Alistair Burt from the UK.

Grant received from DFID via cooperation with the British Embassy in Rabat.

Commencement of long-term funding partnership with Intrepid Foundation.

2019 - The Duke & Duchess of Sussex (Harry & Meghan) visit AEFA houses as part of their State Visit to Morocco.

Prince Harry presents Founder & Trustee Mike McHugo with MBE for his work promoting gender equality in Morocco, which he accepts on behalf of all of Education For All.

6th house built in Talat n Yacoub with memorial legacy donation from family of Mark Wynn

2020 - His Majesty's Ambassador to Morocco, Simon Martin CMG, becomes EFA Patron.

2022 - Dame Hays (Hays Travel) pledges 3 internships over 3 years for AEFA graduates.

2023 - All 6 boarding houses are destroyed or badly damaged in the September earthquake in Al-Haouz region.

AEFA commences emergency recovery and rents 2 properties in Chwiter for interim use as boarding houses.

2024 - AEFA increases the number of rented properties to 6.

Australian Ambassador HE Michael Cutts visits AEFA's Ouirgane boarding house following Direct Aid grant.

Partnership agreements signed with ASJFR and Centre Malaika.

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

2025 - Zakat certification for EFAM received from Amanah Advisors global Shariah advisory firm.

Partnership agreements signed with Dar Moustaqbel (Marrakech) and Association Selah (Rabat).

2025 Achievements

Programme expansion

2025 was a record-breaking year; a year in which we reached more girls, launched more programmes, and expanded further across Morocco than ever before. We continued our strategy of increasing the rate of impact by diversifying our operations.

Two more partnership agreements with delivery partners were signed, bringing the total number of delivery partners to five. In September 2025, EFAM was supporting 543 disadvantaged girls across all programmes - the highest number in EFAM's history.

Impact

During the year, EFAM provided support to a total of 543 girls (2024 - 362). This figure reflects the continued commitment to empowering young women through access to education and essential resources.

The academic achievements of those supported are particularly noteworthy, with Baccalaureate pass rates ranging between 88% and 100%. These results surpass the national average of 67% (source: Morocco Ministry of National Education) highlighting the positive effect of EFAM's initiatives on educational outcomes. The success rates not only demonstrate the effectiveness of the support provided but also underscore the determination and hard work of the girls involved.

Centre Project
AEFA ASJFR Malaika DM Selah Total
£k funding by EFAM 267 125 84 35 38 549
% costs funded by EFAM 100 70 47 23 76 -
Number of girls supported by EFAM (inc 12
SIST scholarships) 203 186 84 20 38 531 >> 543
Number of local staff 19 12 30 5 8 74
Number of boarding houses 6 1 n/a 2 n/a 9
Baccalaureate pass rate (national average
67%) 88 100 n/a 94 n/a -

University scholarships

Another important milestone has been the expansion of our university scholarship programme. In partnership with a committed donor, we have been able to offer 12 scholarships to students attending Superior Institutions of Science & Technology (SIST), the first British university in Morocco, which awards degrees from Cardiff Metropolitan University.

Multi-year agreements signed with major donors

Over the course of the year, we have secured several multi-year agreements with corporate foundations. These partnerships have been forged primarily due to the strength and transparency of our governance framework, the effectiveness of our programme delivery and management, and our proven track record of achieving demonstrable impact. Such agreements not only provide financial stability for our organisation but also reinforce the confidence and trust placed in us by our partners. The sustained support from these foundations enables us to continue delivering high-quality programmes and further our mission, ensuring long-term benefits for the communities we serve.

Zakat Certification

EFAM's Zakat policy was officially certified by Amanah Advisors, a prominent global Shariah advisory firm. We established and now manage a dedicated Zakat bank account to ensure these funds remain segregated and are strictly allocated for eligible purposes, including food provision, boarding, and essential educational support for girls from low-income households.

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

Monitoring, Evaluation, Accountability & Learning (MEAL)

A Theory of Change (TOC) was developed during the year. This significant undertaking was completed through a collaborative effort between the EFAM Board and executive team, incorporating input from our delivery partners in Morocco. The TOC is designed to clearly articulate how our activities are intended to lead to our desired outcomes, providing a structured framework that guides both current and future programme delivery.

The TOC was finalised in April 2026 and is now being used to develop a MEAL framework that outlines key higher-level indicators for change that will be used for reporting. This will make it easier to demonstrate outcomes and help us to track changes over time. These advances will demonstrate the effectiveness of programmes and provide greater transparency to donors and other stakeholders. Our MEAL framework will include a focus on annual learning as well as evaluations of programmes in the future.

Throughout 2025, we have placed particular attention to improving the processes surrounding data collection, analysis, and reporting. This included the collection of post-programme data among participants from AEFA and data from current programme participants at Dar Moustaqbel, through focus groups with young women. This qualitative data highlighted the importance of boarding houses in providing a safe learning environment for young women. Participants mentioned the reputation of the organisation and the varied activities available as key strengths and also made important suggestions to strengthen programmes, including more support with English language skills, use of technology and support with career counselling.

We will continue to create opportunities to intentionally gather feedback from programme participants and strengthen learning from programme implementation.

Financial Review

The results for the year and financial position of the charity are as shown in the annexed financial statements.

Gross income for the year totalled £742.1k, of which £51.2k (6.9%) was investment income. This was a 8.8% increase compared to 2024 gross income of £682.3k. Operating expenditure during the year of £166.1k represented 22.4% of gross income. (2024 £81.9k, 12.0%). The 2024 results were influenced by the exceptional level of donations received in the months following the earthquake in the Atlas Mountains in September 2023, which destroyed 5 of the 6 boarding houses operated by AEFA. Total donations of £610.9k (2024 £524.7k) were transferred to our five delivery partners during the year.

Reserves policy

The reserves policy is based upon an ongoing risk assessment of the internal and external operating environment to ensure financial stability. The Board of Trustees considers that a level of reserves equivalent to 8-12 months of operating expenditure is prudent. This would enable local partner NGOs to complete the academic year, and allow for unforeseen emergencies or maintenance costs, fluctuations in income and inflated costs due to current global instability, and financial commitments in the event of the charity closing. Total funds held at 31.12.25 are £1,603k, of which £190k are held in reserve, £566.5k are restricted according to donors' wishes, leaving £846.5k unrestricted for general use.

The Board recognises that holding reserves substantially in excess of the required level is not consistent with the charity's long-term intention to maximise the use of funds in furtherance of its charitable objectives. The Board has developed plans to apply excess reserves in a measured and sustainable way. These include investment in new charitable activities, service development in existing operations, and strategic projects that will strengthen the charity's impact and resilience while maintaining an appropriate level of financial security.

Investment policy

Funds are invested in short-term, low-risk investments providing a high level of capital security in order to preserve capital whilst maximising return for the furtherance of EFAM's objectives. All investments 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 with other secure, non-equity, investment opportunities. Any other investments are only considered with the support of independent expert advice from a Charity Investment Specialist. In all such cases, funds must be invested ethically and based on environmental, social and governance (ESG) principles.

Risks & Uncertainties

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

The Board reviews the risk register on a quarterly basis. The principal financial risks and uncertainties facing EFA Morocco Ltd, as identified by the trustees, together with planned mitigation for managing those risks is summarised in the table below.

Potential Risk Possible Impact Mitigation
Inability to spend donated funds Build-up of reserves causes loss of Rental of properties whilst land for
promptly due to lack of availability of confidence of stakeholders such as construction of permanent houses is
suitable land for reconstruction of donors. sourced.Effective donor
boarding houses destroyed by communications to explain the reasons
earthquake. for delays in expenditure.
Reduction in funding and/or Insufficient funds to maintain Diversification of funding sources
increasing costs due to inflation. operations. including website appeals, social media,
events, foundation grant applications
and corporate sponsorship.
Financial crime in EFAM Loss of funds. Reputational risk. Transaction limits and financial
oversight controls on bank
accounts.Investments held in UK FCA
regulated institutions. Anti-money
laundering and due diligence, and
anti-bribery and corruption policies.
Internal financial controls such as
segregation of duties.
Financial crime in delivery partner Loss of funds at local level. Due diligence performed before signing
NGO in Morocco Reputational risk to local NGO and partnership agreements. Regular
EFAM. management accounts and
reporting.Annual accounts prepared by
independent accountants.Regular site
visits by MD.AML, DD, anti-bribery and
corruption policies.
Increase in costs due to inflation Higher costs for delivery partners Careful cashflow management and
caused by global instability requiring more funding to provide forward planning. Caution in signing
same level of services. Potential for new partnership agreements,
cashflow issues. particularly multi-year.

Principal funding sources

The charity's income was derived from the following channels:

Grants from Foundations
Individual Donors & Schools
Online Appeals
Investment Income
Zakat Donors
Gift Aid
Total
 2025
56.5%
20.0%
8.5%
7.0%
5.2%
2.8%
100.0%		 2024
26.3%
33.6%
30.7%
9.4%
-
-
100.0%

We continue to diversify our funding streams to provide stable and sustainable income for the charity's activities.

Going concern

The trustees have assessed the charity's ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements, in accordance with guidance issued by the Charity Commission for England and Wales and applicable auditing standards.

The trustees have considered a downside scenario including a reduction in income and increase in operating costs. Even under a scenario where income falls significantly and costs increase materially; the charity would retain substantial cash balances throughout the assessment period due to its high level of reserves.

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

If financial pressures arise, trustees have flexibility with the ability to reduce or defer grant commitments, control discretionary operating expenditure, and utilise existing reserves. The charity has no external debt and has no material commitments or liabilities. All grant agreements signed with delivery partners are subject to funding being available in EFAM.

The trustees therefore have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. No material uncertainties have been identified that would cast significant doubt on the charity's ability to continue as a going concern. Accordingly, the trustees continue to adopt the going concern basis in preparing the financial statements.

Plans for future periods

The trustees have referred to the advice contained in the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives, and when making plans for future periods all activities are undertaken for the objective of furthering the charity's purposes for the public benefit.

EFAM's strategic priorities for future periods are focused on expanding both the scale and impact of its activities through strengthened partnerships and increased funding commitments.

Over the coming year, the charity expects to enter into three to four new agreements with delivery partners to broaden the reach of its programmes and support delivery in priority areas.

In addition, the Board intends to increase investment in existing delivery partners where strong outcomes have already been demonstrated, enabling successful initiatives to grow in scope and deepen their impact on beneficiaries.

The charity will also continue to prioritise fundraising and relationship development, with the aim of securing further agreements with major donors to provide sustainable funding for future programmes and long-term strategic development.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Trustees are selected through a process involving recommendations or targeted recruitment based on identified skill requirements. Prior to assuming their roles, prospective trustees participate in a formal meeting with incumbent trustees to ensure a comprehensive understanding of their responsibilities and duties. As part of the induction and training programme, new trustees are directed to relevant guidance and resources provided by the Charity Commission and receive EFAM's Trustees Manual. The manual details the overall governance framework, organisational policies, procedures, and mechanisms for operational oversight, as well as outlining trustees' roles and responsibilities, the code of conduct, and principles of delegation.

As the charity has grown, the Board of Trustees identified the importance of enhancing its membership, resulting in the appointment of four new trustees during the year.

Chris Askew OBE (Finance Committee) joins us with decades of senior leadership across the health and charity sectors, including eight years as Chief Executive of Diabetes UK and more recently Chief Executive roles at the Royal College of General Practit ioners and Brainkind.

Dr Michelle Lokot (Impact Committee) brings extensive global experience in gender, adolescent girls' programming, and research, alongside her role as Assistant Professor at the London School of Hygiene and Tropical Medicine.

Yasmine Smires (Impact Committee), Education Specialist at UNICEF Morocco, adds deep knowledge of inclusive education policy, programme design, and the barriers faced by girls from disadvantaged backgrounds.

Younes El Assimi (Impact Committee), consultant at McKinsey & Company and specialist in impact assessment across MENA, brings val uable analytical expertise and a personal connection to EFAM's mission.

In December 2025, Founder Mike McHugo MBE stepped down after almost two decades of service as Chair and as a Trustee. He has been appointed as EFAM's first Honorary President, which will allow the charity to continue to benefit from his experience as a respected ambassador and guiding voice.

Dr Andrew Dimberline also stepped down at the end of the year, concluding his tenure as a key trustee which began in 2017. His commitment and contribution have played a significant role in the charity's governance and development.

Organisational structure

The charity is governed by eight trustees, all of whom serve as volunteers and are not compensated for their duties. There are three principal committees reporting to the Board of Trustees: Finance, Governance & Nominations, and Impact. The Chair of Trustees additionally fulfils the role of Safeguarding Trustee. The Board held five meetings throughout the year. Additionally, the annual visit to delivery partners in Marrakech provides an opportunity for trustees, local NGO partners, and staff to effectively collaborate and strengthen the charity's project delivery.

The Charity employs a Managing Director and a Finance & Operations Coordinator. They are supported through a regular arrangement by a freelance Governance Manager and Marketing Manager. Other contractors for IT, website maintenance and other specialist advice are utilised when required.

The pay and remuneration of EFAM's key personnel are set by the Governance & Nominations Committee, who consider similarly sized charity benchmarks to ensure pay is in line with market rates.

Patrons

The British Ambassador to Morocco, Simon Martin CMG continues his patronage of EFA Morocco Ltd. Zina Bencheikh (MD EMEA, Intrepid Travel) remains the second Patron.

Wider network

The charity is promoted through its website, social media, newsletters, charitable events, and other appropriate means.

Related parties

The Charity works with and donates funds to five local delivery partner NGOs, Association Education for All, Association pour la Scolarisation de la Jeune Fille Rurale, Centre Malaika Marrakech, Dar Moustaqbel and Association Selah, to support the provision of education to marginalised girls in Morocco.

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Education for All Morocco Limited (Registered number: 06451416)

Report of the Trustees for the Year Ended 31 December 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06451416 (England and Wales)

Registered Charity number 1124500

Registered office

C/o Williams & co 8/10 South Street Epsom Surrey KT18 7PF

Trustees

M J McHugo Trustee (resigned 31.12.25) Dr A J Dimberline Trustee (resigned 31.12.25) T Reilly Trustee L Wynn Trustee N Taylor Trustee Ms L Nash Trustee C R T Askew Trustee (appointed 30.4.25) Y El Aassimi Trustee (appointed 30.4.25) Dr M Lokot (appointed 30.4.25) Y Smires Trustee (appointed 24.9.25)

Company Secretary

Independent Examiner

Williams & Co Epsom LLP Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF

Legal Advisers Covington & Burling LLP 22 Bishopsgate London EC2N 4BQ

Bankers HSBC Bank plc 75-77 High St Sutton Surrey SM1 1DU

Approved by order of the board of trustees on 1 July 2026 and signed on its behalf by:

L Wynn - Trustee

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Independent Examiner's Report to the Trustees of Education for All Morocco Limited

Independent examiner's report to the trustees of Education for All Morocco Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Paul Smith BSc FCA The Institute of Chartered Accountants in England and Wales

Williams & Co Epsom LLP Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF

1 July 2026

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Education for All Morocco Limited

Statement of Financial Activities for the Year Ended 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 496,988 193,956 690,944 618,560
Investment income 2 51,182 - 51,182 63,751
Total 548,170 193,956 742,126 682,311
EXPENDITURE ON
Raising funds 3 156,945 9,188 166,133 81,897
Charitable activities
Donations 314,669 296,185 610,854 524,666
Total 471,614 305,373 776,987 606,563
NET INCOME/(EXPENDITURE) 76,556 (111,417) (34,861) 75,748
Transfers between funds 12 65,291 (65,291) - -
Net movement in funds 141,847 (176,708) (34,861) 75,748
RECONCILIATION OF FUNDS
Total funds brought forward 895,060 743,238 1,638,298 1,562,550
TOTAL FUNDS CARRIED FORWARD 1,036,907 566,530 1,603,437 1,638,298
----- End of picture text -----

The notes form part of these financial statements

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Education for All Morocco Limited (Registered number: 06451416)

Balance Sheet 31 December 2025

----- Start of picture text -----
2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 359 - 359 483
CURRENT ASSETS
Debtors 10 - - - 15,113
- -
Prepayments and accrued income 14,154 14,154
Cash at bank and in hand 1,033,667 566,529 1,600,196 1,632,847
1,047,821 566,529 1,614,350 1,647,960
CREDITORS
Amounts falling due within one year 11 (11,272) - (11,272) (10,145)
NET CURRENT ASSETS 1,036,549 566,529 1,603,078 1,637,815
TOTAL ASSETS LESS CURRENT LIABILITIES 1,036,908 566,529 1,603,437 1,638,298
NET ASSETS 1,036,908 566,529 1,603,437 1,638,298
FUNDS 12
Unrestricted funds:
General fund 1,036,908 895,060
Restricted funds:
Restricted - AEFA Earthquake Recovery 537,999 731,457
Restricted - AEFA Operational Costs 8,827 850
-
Restricted - EFAM Operational Costs 9,309
-
Restricted - Volunteers Expenses 1,622
Restricted - SELAH 19,703 -
566,529 743,238
TOTAL FUNDS 1,603,437 1,638,298
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

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Education for All Morocco Limited (Registered number: 06451416)

Balance Sheet - continued 31 December 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 1 July 2026 and were signed on its behalf by:

L Wynn - Trustee

The notes form part of these financial statements

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Education for All Morocco Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. INVESTMENT INCOME

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|||| |---|---|---| |2025|2024| |£|£| |Deposit account interest|51,182|63,751|

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

3. RAISING FUNDS

Raising donations and legacies

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |£|£| |Support costs|166,133|81,897| |SUPPORT COSTS| |Governance| |Management|Finance|costs|Totals| |£|£|£|£| |Raising donations and legacies|154,219|650|11,264|166,133| |Donations|33,162|-|-|33,162| |187,381|650|11,264|199,295| |Support costs, included in the above, are as follows:| |2025|2024| |Raising| |donations| |and|Total|Total| |legacies|Donations|activities|activities| |£|£|£|£| |-| |Wages|88,825|88,825|26,783| |-| |Social security|11,217|11,217|2,671| |Pensions|1,321|-|1,321|110| |Insurance|626|-|626|614| |-| |Office equipment|4,634|4,634|10,116| |-| |Advertising|3,110|3,110|3,012| |Sundries|22,741|-|22,741|16,424| |-| |Loss on foreign exchange|13,339|13,339|6,474| |Professional fees|8,281|33,162|41,443|12,772| |Depreciation of tangible and heritage assets|125|-|125|16| |Bank charges|650|-|650|462| |Auditors' remuneration|3,474|-|3,474|6,360| |Auditors' remuneration for non audit work|7,790|-|7,790|4,000| |166,133|33,162|199,295|89,814|

----- End of picture text -----

4. SUPPORT COSTS

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Auditors' remuneration|3,474|6,360| |Auditors' remuneration for non audit work|7,790|4,000| |Depreciation - owned assets|124|16|

----- End of picture text -----

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

Out-of-pocket expenses were reimbursed to trustees as follows:

2025
2024
Number
Number
Travel
14
11
Computer
-
-
7.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin
No employees received emoluments in excess of £60,000.
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
417,394
Investment income
63,751
Total
481,145
EXPENDITURE ON
Raising funds
60,486
Charitable activities
Donations
411,666
Total
472,152
NET INCOME
8,993
RECONCILIATION OF FUNDS
Total funds brought forward
886,067		 2024
£
8,377
-		 2024
£
7,528
-
2025
£
88,825
11,217
1,321
101,363
2025
2
Restricted
funds
£
201,166
-
201,166
21,411
113,000
134,411
66,755
676,483		 2024
£
26,783
2,671
110
29,564
2024
1
Total
funds
£
618,560
63,751
682,311
81,897
524,666
606,563
75,748
1,562,550

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

----- Start of picture text -----
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
TOTAL FUNDS CARRIED FORWARD 895,060 743,238 1,638,298
9. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 January 2025 and 31 December 2025 499
DEPRECIATION
At 1 January 2025 16
Charge for year 124
At 31 December 2025 140
NET BOOK VALUE
At 31 December 2025 359
At 31 December 2024 483
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Other debtors - 15,113
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors - 5,292
Pension fund 294 294
Accruals and deferred income 10,978 4,559
11,272 10,145
----- End of picture text -----

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

12. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Restricted - AEFA Earthquake Recovery
Restricted - AEFA Operational Costs
Restricted - EFAM Operational Costs
Restricted - SIST Scholarships
Restricted - Volunteers Expenses
Restricted - SELAH
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
Restricted funds
Restricted - AEFA Earthquake Recovery
Restricted - AEFA Operational Costs
Restricted - EFAM Operational Costs
Restricted - SIST Scholarships
Restricted - SELAH
Restricted - Malaika
Restricted - ZAKAT
TOTAL FUNDS		 At 1.1.25
£
895,060
731,457
850
9,309
-
1,622
-
743,238
1,638,298
s follows:		 Net
movement
in funds
£
76,557
(98,906)
(70,367)
(1,435)
27,694
-
31,596
(111,418)
(34,861)
Incoming
resources
£
548,170
-
35,856
8,499
51,750
34,692
25,000
38,159
193,956
742,126		 Transfers
between
funds
£
65,291
(94,552)
78,344
(7,874)
(27,694)
(1,622)
(11,893)
(65,291)
-
Resources
expended
£
(471,613)
(98,906)
(106,223)
(9,934)
(24,056)
(3,096)
(25,000)
(38,159)
(305,374)
(776,987)		 At
31.12.25
£
1,036,908
537,999
8,827
-
-
-
19,703
566,529
1,603,437
Movement
in funds
£
76,557
(98,906)
(70,367)
(1,435)
27,694
31,596
-
-
(111,418)
(34,861)

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.24
£
Unrestricted funds
General fund
886,067
Restricted funds
Restricted - AEFA Earthquake Recovery
676,483
Restricted - AEFA Operational Costs
-
Restricted - EFAM Operational Costs
-
Restricted - Volunteers Expenses
-
676,483
TOTAL FUNDS
1,562,550
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
481,145
Restricted funds
Restricted - AEFA Earthquake Recovery
145,164
Restricted - AEFA Operational Costs
850
Restricted - EFAM Operational Costs
30,530
Restricted - SIST Scholarships
23,000
Restricted - Volunteers Expenses
1,622
201,166
TOTAL FUNDS
682,311		 Net
movement
in funds
£
8,993
54,974
850
9,309
1,622
66,755
75,748
Resources
expended
£
(472,152)
(90,190)
-
(21,221)
(23,000)
-
(134,411)
(606,563)		 At
31.12.24
£
895,060
731,457
850
9,309
1,622
743,238
1,638,298
Movement
in funds
£
8,993
54,974
850
9,309
-
1,622
66,755
75,748

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Restricted - AEFA Earthquake Recovery
Restricted - AEFA Operational Costs
Restricted - EFAM Operational Costs
Restricted - SIST Scholarships
Restricted - Volunteers Expenses
Restricted - SELAH
TOTAL FUNDS		 At 1.1.24
£
886,067
676,483
-
-
-
-
-
676,483
1,562,550		 Net
movement
in funds
£
85,550
(43,932)
(69,517)
7,874
27,694
1,622
31,596
(44,663)
40,887		 Transfers
between
funds
£
65,291
(94,552)
78,344
(7,874)
(27,694)
(1,622)
(11,893)
(65,291)
-		 At
31.12.25
£
1,036,908
537,999
8,827
-
-
-
19,703
566,529
1,603,437

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted - AEFA Earthquake Recovery
Restricted - AEFA Operational Costs
Restricted - EFAM Operational Costs
Restricted - SIST Scholarships
Restricted - Volunteers Expenses
Restricted - SELAH
Restricted - Malaika
Restricted - ZAKAT		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
1,029,315
(943,765)
85,550
145,164
(189,096)
(43,932)
36,706
(106,223)
(69,517)
39,029
(31,155)
7,874
74,750
(47,056)
27,694
1,622
-
1,622
34,692
(3,096)
31,596
25,000
(25,000)
-
38,159
(38,159)
-
395,122
(439,785)
(44,663)
TOTAL FUNDS 1,424,437
(1,383,550)
40,887

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Education for All Morocco Limited

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.

Page 21