2025-09-30-accounts

The KENYA KESHO TRUST

Report of the Trustees for the Financial Year ended 30 September, 2025

Registration number 1127182

Address

7 Northfield Rise Saxilby Lincoln LN1 2WT Lincolnshire Great Britain

Trustees

Mrs AL Ruysenaars Mr PJ Ruysenaars Ms C Bramley Mr HMW Ruijsenaars Mr TR Gander Mr M Harwood

The Kenya Kesho Trust structure

The Kenya Kesho Trust is registered as a Charity in England and Wales (1127182) with Tax Exemption from HMRC (XT 29876). The Charity is also registered in The Netherlands as Stichting Kenya Kesho (64660125) with Tax exemption (RSIN NUMBER 8557.66.529). The Trustees in The Netherlands are;

Mr M Abbema Mrs E Abbema Mr PJ Ruysenaars

The reasons for the above structure is for receipt of donations in the United Kingdom and The Netherlands. These donations are then transferred to the Kenya Kesho Trust as and when required.

The Kenya Kesho Trust Registered Trustees is registered as a Charity in Kenya, Certificate of Incorporation under the Trustees (Perpetual Succession) Act Chapter 164 (FNO. 323519) with Kenya Revenue Tax Exemption (KRAEXM0290571025). The Trustees in Kenya are;

Mrs AL Ruysenaars - Chairperson Mr PJ Ruysenaars - Treasurer Mr DK Makambala - Administrator Ms BM Shah – Assistant Treasurer Mr DB Kipkorir – Legal Advisor

The Kenya Kesho Trust Registered Trustees owns and manages the Kenya Kesho School for Girls situated on Plots 1027, 1030 and 1031, Kwale/Mrima Bwiti S.S. in Kwale County, Coast Province, Kenya. The three plots measure 16.50 acres and all titles are in the name of the Kenya Kesho Trust Registered Trustees.

Situated on the above plots is a primary and junior secondary school for 300 girls with the following buildings;

Preprimary School class 1 and 2 Primary School grades 1 to 6 School canteen Library Computer laboratory equipped with 30 computers Junior Secondary School grades 7 to 9 Science laboratories, comprising of one for physics and one for chemistry and biology combined Art and music room

Volunteer teacher accommodation unit comprising of three self-contained accommodation units Administration offices Toilet facilities

We also have a full sports facility with changing rooms and amenities for both boys and girls, with the following sports; Football Rugby Volleyball Netball Handball Softball Track and field Tennis

The school is connected to solar power, has a stand by generator and is connected to the national grid should all else fail. Water is supplied from a solar powered borehole.

Vocational facilities include; Training unit for sewing and stitching Model organic farm Forestry and planting of endangered indigenous trees

The Kenya Kesho Trust is a not for profit charity providing a free primary school and junior secondary school education for girls from a very marginalized part of Kenya.

Management and Trustee recruitment

The Kenya Kesho Trust is guided, managed and supported by various management committees in conjunction with its Trustees. The following are the management committees;

Academic standards, curriculum and quality assurance Strategic leadership, governance structure and succession plan Financial oversight, management and delegation

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Fundraising and resource mobilization Communications and marketing Legal and compliance Programme and impact oversight HR and staff welfare Community and stakeholder relations Infrastructure projects Monitoring and evaluation

The Trustees and the Management Committees are recruited after having identified the needs, the role, searching, screening, assessing, interviewing and carrying out thorough due diligence, to include obtaining references. It is very important for the proposed candidates to go through induction and mentorship guidelines to fully understand the requirements of the Trust and Trustees.

Activities and Objectives

Through the support and encouragement of our supporters and donors, our school has grown exponentially and has achieved major milestones this year. We have completed the construction of our sports facility, purchased seven acres of land for a community based sustainable regenerative seed/ teaching farm project which will commence in January 2026. We received our Tax Exemption Certificate for a further five tears and have excelled in curricular and extracurricular activities as shared below:

• As a result of the new sports facility, we successfully hosted interschool competitions

• The sports facility is also available to the local and larger community at no cost

• The school participated in the Kenya Music Festival for the first time advancing to regional level

• A team of our girls competed in the regional athletics and qualified for the sub-county level

• In the sub-county assessments, our school ranked 7th out of 107 schools. Additionally, Husna Siaba ranked 2nd in the entire sub-county in Term 2 and achieved the position of first girl overall

• Four of our girls took part in a chess competition, and one of them brought home a medal

• We planted over 1,000 endangered indigenous trees, some of them critically endangered, as part of our environmental conservation programme

• One of our students, Dzame, was selected by the Kenya Rugby Union to represent the Coastal Region—an exciting achievement and a testament to the diverse talents within our school

None of these achievements would have been possible without the unwavering support and commitment of our sponsors, donors and the TEAM.

The Trust has committed to constructing a further three classrooms to cover Senior Secondary School Grades 10 to 12. Construction will commence in 2026 in readiness for the first transition from Grade 9 in 2026.

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Financial review, Debts and Reserves Policy

The financial year ended 30[th] September 2025 was the most difficult year in the history of the Trust. Our Kenya Tax Exemption expired on 30[th] September, 2024 and it was not renewed, through no fault of the Trust, until late September 2025. Not having Kenya Tax Exemption Status cost us, in terms of Kenya company donations, resulting in heavy losses for the first time in the history of the Trust. Now that Kenya Tax Exemption has been restored we are back on track and running at a surplus.

The Trustees confirm that the Trust does not have any debts. All projects and commitments are paid for in full upon presentation of accounts.

The policy of the Trust is to try and have cash reserves to cover three months running costs at any one time. As will be seen from the Audited Financial Statements to 30[th] September, 2025 this was the only reason we survived. As Trustees, we are happy to report that as of 30[th] November, 2025 we now have more than three months cash reserves to cover running costs.

In addition, we are in the process of finalizing our “Succession Plan”, drawing up the legal documentation and Management Structure with the intention that the New Team commence work with effect January, 2026. We are happy to report that between donations and committed donations the New Team have managed to raise an additional GB Pounds 30,000. This puts the Charity in a strong financial position moving forward. It is our aim to work on a fund to cover two years of running expenses going forward.

We are also able to confirm that the Founding Trustees will continue ad infinitum and work hand in hand with the new Trustees.

Pension Scheme

The Trust has entered into a Compulsory Defined Contribution Pension Scheme with ICEA Lion Life Assurance Company Limited. Employee contributions of 5% are matched by the Trust.

Funds held as a custodian trustee

We confirm that there are no funds held as custodian Trustees. We are also able to confirm that all funds of the Trust are held by what are termed as “First Tier Banks, thereby minimizing risk of losses.

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THE KENYA KESHO TRUST MOMBASA ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED TH 30 SEPTEMBER, 2025 WAMBUGU MARCLUS & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS UPHL BUILDING- GROUND FLOOR MIKINDANI STREET, OFF NKRUMAH ROAD P.0. BOX 86895- 80100 TEL: [phone] MBA

The Keny47 KeFho Report fjndfinanc1ol￿￿eImeAts For iember. 2i125 PA The Irv￿ inform￿10￿ TruMe¢5 report Statement gf tn￿te¢s, resrK)tisibib'ties R¢port of th¢ irtdependeni auditors Income and ¢xpeThJiture accoutrt Staiemeni of alTatrs Noies to the Fitianci41 St4trynent$ Cath F]ow state￿￿t 10

Pase l of10 The Kenya Kesho TTh Reporl Undfin￿n¢1￿l 51otsmeMts For ihe ear ended 3(*h fember. 2025 THE TRUST INFORMATION Tru5te¢s Mr5. A L. Ruyxenaars (ch￿'[ladY} Mr. P J. Ruysenws (Hon Trewrer) Mr T Gonder Mr. H W M.Ruijs¢naars Mrs M Heg8ie Ms C Bramley Re8iStered offlce The Kenya Kesho Tnjst Mornbasa Lun8a Luw Road Ploi 502913 P O Box 86952 Wambugu M4rtlu$ & A$8o¢hates CeJtified Public Accouniams UPHL BuildinB- Ground floor Mikindani S¢reer- off NkNm&h Road P O Box 86895 Tel 041 ?22 464410722 096 592

Pa8e 2 of 10 The Kenya Trn Repurt ondfinonciul sithements For ihe endedjllrh, ¢embeT, 2025 REPORT OF THE TRUSTEES The trustees submit their annua] report tO8ether the audited financial slaiements for the year ended 30th September, 2025. Objettivtt of the trlljt: . The m#iti obje¢t$ of The Kenya K¢sho Trusi are ihe ￿Va￿eMent of education foT the b¢n¢fii of the public in panicular bui not ex¢lu5iv¢ly in ihe PonBw¢JKidimu L4xaiioo Kwait Coast PrmryrKe, Kryrya by providin8 and aSsi￿1n8 in ihe pro%Trsion of faciliti￿ tel¢h￿ and tyulprne￿. Financial Rtviev: . The ¢hwiiy's finwKio1 results are set out onpage 5 of the firwKia] statemeffls Durin8 ihe year, the chllrity had deficit of inconx over eX￿￿ltUre ￿nLK￿￿I￿s to GB £31,162. Tryitees: . The membtts of lhe botrd of tnkstees are named on paye l of the rep)rt and ￿eMen¢9. Th¢ appointmeni of ihe trustee5 1$ as per the guidelit￿$ of the Articles of AS￿l&tion. Audilon:. The auditors Mls. Wambusu Marclus & Ass¢xiates, Cenified Public A¢¢ountsnts will continue in office in accordance with the Company's Article5 of ASS￿latiOn and se¢rion 719 ofthe Companies Act,2015. The trustee: monitor the effectiveness. objerlivtty and independen¢e of the auditor. Approval of the financial statemen¢$ Th¢ t"man¢ial sthtements were approved at a Meeti￿ of the diTectors held on ... 2p- .¥.￿ .202 BY ORDEROF THE BOARD LAD )?-/o- DATE.................................202f

Pa8e3 of10 The Kemya Kesho TTh Report andfin4ncial.slotemeRts For the 'ear ended j￿h S trmber, 2025 STATEML.%T OF TRUSTEES. RESPOIYSIBILITIES The Irusiees prepare financial #8tement5 for e4¢h financtal year which 8ive a true and fair iryew of ttre state of aff4ir$ of th¢ tharity and ofihe SUTpIu5 of rhe ¢hAriry for thai year. In preparin8 ihe5e financi otemenLS the tru￿ceS have.. - S¢le¢T¢d #Litable •¢¢ountin8 ￿11¢1¢¥ and appli￿ th#n ¢otisistartty Made jud8emems esiimates ihai are reasonable and pNd¢nt Si￿ed wI￿l￿r applicable a¢ciyJniitiy 91Srtthrds have been followe(L ￿bi to any maieriai depanures dis¢losd and ¢xploined in the stat•nen¢s. and Pteparfd finwKial statements on the 80108 cou¢¢rn bosis. The tru￿ee5 ar¢ responsibk for ke¢pin8 proper a¢¢ouMin8 rxords which disclose ai any titn¢ the fitwKj￿ positio of the chAfiiy and enable them to ensure ihfii ihe finIn¢1￿ St￿ementS comply ￿1th Ihe Comwiej A¢1 CAP 486. They are aJs0 responsible for S￿esU8rd1ns Ihe 8Sset$ of ihe cjwiiy and for takin8 reaso1￿ble sieps lor the prevention and detertion of fraud and other irre8ularies. The irusltts certify that to the be51 of iheir knowl¢dB¢ and belief. the inf0M￿li0￿ fvrnlgh￿ to the auditors for the purpose of the audit was ¢orrect and complete in every res￿. FOR THE TRUSTEES IA HON. TREA ??-/*.)o2< a?- /a- Joz<

IYA.VBI'ell.¥4RCLu.SaA.￿<KJ￿ TES J('ACC'OU￿r Page4019 KeRJ'q Tr¥Jt . 2025 Opin r%artcial ￿llion as th 31hh Scptantv. 20￿ the of of in quill ty1 tsr shllo%bs 8toierneiit fw th )car then I￿1￿1￿ * of$iBMfJc4nt ￿￿￿tin8 ￿￿¢1¢$ our OPiftLon the 4Kcry.Ing fin1￿1#] pit • tn atsd ffrtr lie of the fin￿1￿1 pJgill(o of th¢ 311h kpi•nbu. 2021 tyl of iES ptrfLYmBJx¢ awj CAth fkn4s fw th¢ y¢aT thcrl ¢d with th ttuern￿lC￿ FinwKsai R¢pMin8 B¥sly for oplnlon W¢ ollduc￿d our 8uth'i in I(¥￿dIT￿e Viith Sthrpjwth ￿ A￿.11￿8 {ISAsl (hw rtAFwJuibiiiueJ uth swthTds fvrther dcmbed irt Asidtior'% Re.EwKsihi1111¢5 J¢Jr th¢ Ardii offfh¢ fviThmridl.SY￿tM￿n£% ofwr ¥qffi. Wc arc Wi or thc compfjni ID Thith th¢Jnlernariop￿I Ethicy.$7afftthrds BLy￿d￿rA¢¢iwUl￿ts tsfE"Ihicsfvr Profe.T.%icinul Ac'¢'iJiinigtniJ IIF..SR4 ( (J&} tO8tht with the WULre[￿ th•1 the fLllaAc￿ SI￿￿En￿ in K¢nTr'u. 4nd ￿ h4%t fulfilled our ￿h￿at rwwibilLtiM in Thith th#e arKI the IESBA Coth W¢ bdJ¢%t the evi&yKc wo haitobtaJtl • bui8 Other InfOrm￿k appewy to ￿ maiemally miJs¢a¢oJ Ir. ba¥pJ Lxxth ofthi$ other ￿￿0￿￿11£￿4 #Tt r¢wrtd W¢ b•%% &xhLlli ty r¢p in this Inisi¥xs r¢gpiN15Lbl¢ fw the prwt&ian fair flthe trpx Trl fthÈrvi¢w in 'ith ¢J IniernBiiLwI Fin&￿¥¥1 Re￿￿8 S¢andards fty Swil •nd Entstscs and the rrquinna)t5 ofihc Compwu AGL 21115. and s￿h int¢rn￿ rixKrol as d&(¥ll￿ the ate ft¢e frcln mai¥￿] MISSth￿￿L fr￿￿ In prep8nng the sw¢nKpt5. th¢ In￿1￿5 W¢ tr5wibk fty assessirK8 the trthst's abilih. ty (Ixin￿ u a soJn8 4s 8pplic4bl¢ matters relaifd ￿ 80in8 CL¥Kt¥n ¥DJ u5in8 ofxx(R￿bttK tt¥steJx ertber UrtL￿1 w Jwuidll hethr fr8ud w emr. aod ￿ i55u¢ an awlttrf5 tEpJn thBt Lxw (Witiityh. Keawble is 8 l•EI ofa56urdi bui i8 not 4 gUarallt￿ that th"1 T4ith ISAS ￿111 thi a JwiuJa] misstr￿ li

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Page 5 of10 The Ken}a Kesho TruJY Repvrt andflnartcial &tatem¢rtts' Fur theyear ended 3ffth Seplember, 2025 STATEME,N'T OF CO,%IPREIiE,%SIN'E LNCOIKE 2025 GB£ 2024 GB£ No INCO,ME D<)nations tnieresl Exchange gains 153.714 461 761 145,312 6.202 4.445 To¢*1 intome 154.936 155.959 EXPENDITIIRE KF.NYA l&ESHO SCHOOL FOR GIRLS Bhnk charges Cleaning expenses Depreiidlion El¢¢tri¢ity Excuisions Trarniing expenses F¢¢dinB pro8r&mmc insurances Internet wsts Le¥al expenses Licenses Mark¢tin8 m￿1(al expenses Miscellaneous expenses Posta8¢ Und telq)hone Rates Repairs Salaries School books Stlltion¢ry T¢a¢her trainin8 Transport expenses Uniforns Volunt¢cr expenses 459 274 10.628 482 5,163 2.740 1.515 1,146 3,279 324 461 325 12.549 1.994 1.219 1,733 2,486 1.192 4,100 67 17 2.684 .477 1.348 1.645 124 222 188 5.576 79.380 4.552 213 5.5 61.696 2.337 4,165 528 4.220 1,317 -1.945 124.480 2.577 789 .617 109,999 OTHER EXPENSES School fe¢s Umversity fees Totsl expendilure 60,)54 184.834 41,804 151.802 Foreign Cu￿encY revaluation 80in (loss) (1.264) 911 Net (deficit) sutplw5 for the year (31.162) 5.068

Pagc 6 of 10 The Kgnyt7 Keshts Trnst Report undfin4n¢ial 5totrments Forihe earended3ffth. iÉ•hbér, 2025 STATEMEIYT OF AFFAIRS AS at 30th Se te 2025 GB£ 2024 GB£ FIXED ASSETS 791.(MN) 722.119 CAPITAL WORK IN PROGRESS 38,812 Ci1RRENT ASSETS Debtors and other receivables Cash balances Bank balar￿e 1.086 376 44,546 46.008 33.041 12,967 972 224 35.627 36,823 851 35.972 Fund accourkts CIIRRENT LIABILITIES h¢r payables NET CURRENT ASSETS 12.967 35.972 80J.967 796.￿3 INANCED BY: Accumulated fvnd brou8ht forward Surplus (Deficit) for the year 30.214 131.162) 25.146 5.068 ACCL'MIILATED FIIND (948) 30.214 BIIILDING FIIND DONATIONS 524.612 468,292 LOAN- PJ RUYSENAARS 280.303 298.397 803.967 796,903 The financid 5taretnent5 VJ"ere approved by ihe trustees on . and were Si8Thed on their b¢hatf by". - io 2025 P. J. RuTr"se HON. TR ER

Pa8e7 of10 The Keftj'u Kesho Trnsl Report ondfinuncial 5tutements For ihe ear ended3wh,S ember. 2025 NOTES TO THE FINANCL4L STA TEMENTS BASIS OF ACCOUNTING The financi￿ statemenis have been prepor&J under ihe hiori¢a] Cost cotsvthtioo and have been piepated its accorda1￿e wilh the SiaienKm of RecomM￿Cd Practice (SORP 21X)01. 'A¢cowitinB and KeportiO8 by Chwiiies. and appit¢thle a¢￿￿￿tIng swid￿d& ACCOUi%TING POLICIES (A) Ineome and expendiiure: All income and expenditure aTe accounted for on cash buis. C05t5 inGurwd Ire ailoc4ttyl dIr￿Y io the aciiwry io which they are &ttTibut4ble. (b) Fund AC¢OUlltin8: _ GeneraL￿ndS are available for u 41 ihe di￿r￿￿Ort of the tTUStees in funherwKe of Benerai obie¢¢ives of the charity. Resirirted fiJttdy ￿ futth Subje￿ to wific reriaive conditiOll5 imP05ed by donor5 or by th¢ 4)pe41. {() Fixed aswii: . Fixed assets are staled it wsi. DepreCi￿lOn 15 on the Mrni¥h¢ line m￿hod. The rnes ustd are as follows.. Buildin8$ Furniture. fittin85 and equipment Compuiers Motor vehicle 25% Idl Compny IthrSty) ¥tlu$ The chan'ty is a rry5tered trust ID Debtorg Debtors ofthe Tru8t are all considered io be fvlly ￿llectible. (g) C.urrency: _ The financial statement5 are staivj in Great Briiaiti Pouth (GB £)

Pa8e8of10 The Kenya Trn Repurt dndfimncial Mutements For lh¢ endedjoih ember, 2025 FIXED ASSETS 14nd •nd Building5 Furnitur Fittings & Eq￿1pM￿l GB£ Motor Vebitle GB£ CoThpuien GB£ TotAI GB£ Al 1st Octubcr. 2024 649.080 78.405 727.48.5 77.085 20.482 9.122 755,770 79,SQ9 835.?79 78.189 20.482 9,122 Al 141 iktth. 211?4 LharBe ?U25 AE IIIth ￿. 2025 16.•32 7,030 23.?62 .297 3.598 11,895 9.121 33.6SI 10,628 44.279 9.121 Ai 3iiili 2025 727.485 649.080 54.927 60.851 ,587 12.18$ 791.000 72? 119 Al JlJth.%cFrfth)th. 2024 2024 GB£ GB£ 3* CAPITAL WORK IN PROGRF.SS 38,812 CASH BALANCES This repres￿rtS oo as at ihe c105e of the year 176 FUND ACCOUNTS Univvi'51ty tiind New fwm T￿b¢r& yataries 1830 12.489 17.702 33,041 851 851 BLIILDING FUND DONATIONS Restricted funds- toward$ buildin8 ¢OSt$ 524,612 468.292 LOAN BI TRIFSTEES Interest free with rto fixd Ilate for repaynxnt P J Ruy5eoaErs ?80.303 298.397

Pa8e9of10 The Kenya K￿h0 Tn Repurt andfiMancidl.slatemeMts Fi)r ike 'ear ended 3thh. renthr. 2025 CASH GENERATED FROM OPERATIONS 20L4 2024 GB£ 131.1621 GB£ 5,068 Profit l (lo￿) before t&x Adjustmenti for. t)epreLi2tion Changes in working f*PIt tkbiors and other receivables Creditor$ and oiher payables 10.628 12.549 4.161 (11.665 Cash 8¢n¢rat¢d from opwations 12U,648 10.313

Pageloof 10 The Keoya Kesbo Trnst Rep(rt And finAncil st•tements For the year ended 30th Se tembtr. 2 CASH FLOW ST ATEMENT 2025 GB£ 2024 GB£ Note OperAtln8 #ctlvliiej Cash generated from operations -20.648 10.313 lrtveJtin8 activities Purchase of fixed ossets (79.509) (147,738) Capitsl work in pro￿¢$$ 38.812 {38.812) Flnanclng etfvl¢les Donations receiv&1 as restyi¢ted funds 56,320 I S6.371 )art from 8 Trustee 118.(F)4) 26,540 -23.119 6,674 Movement in and cA$h equivl*tyts As at I st Ociober. 2024 35.( 28.J26 IncTease (decrease) (23,119) 6,674 A5 ￿ 30th Sq)t¢mb¢r, 2025 35.IiiXI

Page 4 of 9

WAMBUGU MARCLUS & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS (K)

Kenya Kesho Trust

Report of the independent auditors to the members of Kenya Kesho Trust For the year ended 30th September, 2025

Opinion

We have audited the accompanying financial statements of Kenya Kesho, set out on pages 5 to 9 which comprise the statement of financial position as at 30th September, 2025 and the statements of comprehensive income, statement of changes in equity and of cashflows statement for the year then ended, and, notes, including a summary of significant accounting policies.

In our opinion the accompanying financial statements give a true and fair view of the financial position of the trust as at 30th September, 2025 and of its financial performance and cash flows for the year then ended in accordance with the International Financial Reporting Standards for Small and Medium-sized Entities and the requirements of the Kenyan Companies Act 2015.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants 'Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Kenya, and we have fulfilled our ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other Information

The trustees are responsible for the other information. Other information comprises the information included in the Annual Report but does not include the financial statements and our auditor's report thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Trustees' responsibility for the financial statements

The trustees are responsible for the preparation and fair presentation of the financial statements that give a true and fair view in accordance with the International Financial Reporting Standards for Small and Medium-sized Entities and the requirements of the Kenyan Companies Act, 2015, and such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the trust's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the trust or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatements when it exists. Misstatement can arise from fraud or error and are considered material if, individually or in the aggregate, hey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements

Kenya Kesho Trust

Report of the independent auditors to the members of Kenya Kesho Trust

For the year ended 30th September, 2025

4 (b) of 9

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

. Identify and assess the risk of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. . Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditor's report. However, future events or conditions may cause the trust to cease to continue as a going concern.

. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements present the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Report on other matters prescribed by the Kenya Companies Act, 2015

In our opinion the information given in the report of the directors on page 2 is consistent with the financial statements

The engagement partner responsible for the audit resulting in this independent auditor's report is CPA Marclus Mugoh Kamau Practicing Certificate No. P/2576

Marclus Kamau Certified Public Accountant For Wambugu Marclus & Associates

Mombasa………………………………….. 2025

UPHL Building - Ground Floor, Mikindani Street P. O. Box 86895, Mombasa - Kenya Tel [phone] 644 171