2024-09-30-accounts

RESTLESS DEVELOPMENT (A Company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th SEPTEMBER 2024

Registered Company Number: 06741123 Registered Charity Number: 1127488

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

CONTENTS	Pages
Report of the Trustees:
Objectives and Activities	3
Strategic report	8
Financial review	20
Organisational Structure, governance and	22
management
Trustees’ Responsibilities Statement	24
Independent Auditor’s Report	26
Statement of Financial Activities	30
Balance Sheet	31
Cash flow Statement	32
Notes to the Financial Statements	33
Administrative and Reference Details	50

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 30[th] September 2024.

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

OBJECTIVES AND ACTIVITIES

Restless Development places youth power at the heart of everything we do . Youth Power defines the collective power of young leaders and it can take many forms. At its heart, is a focus on changing behaviour, mobilising community action, strengthening accountability, and informing and influencing policy and practice. At Restless Development, we see the impact of Youth Power. This can be through action and research led by young people as well as through acts of connection, collaboration and advocacy.

What is Youth Power?

Youth Power is:

• Led by young people. Young people are organisers, the best people to support other young people and experts in their own communities and lives. Young leaders design and deliver programmes, conduct research and advocate for lasting change.

• Wide-reaching. Youth Power is as diverse as young people themselves. After all, being young is only one way young people may identify. As a result, young people understand the importance of inclusion and joining together across divides to demand change.

• Goal-led. Objectives can range from global, regional or national goals, like clean water, peace-building, or responsive public services. Or specific local goals, such as creating access to sexual and reproductive health services or local employment initiatives.

• Improving systems. Better connected than ever before, young people are joining together across borders to challenge power, demand change and envisage an alternative future to the one defined by existing structures and institutions. This is Youth Power in action. It’s a collective of young people organising for change at all levels, developing their own leadership and inspiring other young leaders to shift power as they go.

• Measurable. It can be measured in numbers. For example, the number of: girls going back to school; young people that have become financially independent as a result of starting a business after learning entrepreneurial skills; or young people with improved access to contraception. Or it can be measured in powerful stories from young people themselves. These stories are about what it means for young people to find the confidence to use their voice for bringing out the change that they believe in.

• Inspiring collective action. Young changemakers are inspired by other young people, connecting across geographic and political divides to respond to everything from Covid-19, to climate change and so much more. This connectivity provides the ongoing support and inspiration that’s needed for this alternative way of leading change.

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We recognise how we work is as important as what we do - hence we have gone further to develop a power shifting approach . Recognising systemic and historical inequalities and injustices - we are intentional in our efforts to shift power, enabling young people and communities previously marginalised to lead. We recognise the multiple barriers that so many face - for age, gender, sexuality, disability, ethnicity, religion, sexual preference, geographic location or community. We work to ensure that those who face injustice are able to lead the fight against it, and are not the last to have a say.

We use our new Power Shifting Checklist to guide our work:

1. Prioritise Youth Leadership

2. Prioritise Safety and Happiness

3. Train, Support and Resource Young Leaders

4. Be Open, Dynamic and Accountable

5. Intentionally Shift Power

6. Be Restless: Flex, Innovate and Create

We work on a number of different issues and contexts, all towards creating a better world. The four impact priority areas that sit across our work are:

• EDUCATION & LIVELIHOODS: We want all young people to have the skills, knowledge, resilience and opportunities that enable them to thrive. We take a youthled approach to ensuring that every young person has a quality education, and access to training and opportunities that set them up for life. We want all young people, especially women and girls, to be able to stay in school, and be able to make a sustainable fulfilling living when they leave.

• GENDER & SEXUAL RIGHTS: We know that bodies, identities, gender and sexualities are subject to discrimination and violation. We empower young people to change attitudes and behaviours, as well as services and policies, to advance and uphold sexual and reproductive health and rights, and gender equality.

• VOICE & DEMOCRACY: We believe more just and participatory democracies are possible, where institutions are accessible and responsive to young people. We support young people to lead as active citizens and create change in their communities by influencing social and political structures, and those in power, with evidence-based solutions.

• CLIMATE JUSTICE: Young people risk losing the most from climate change, yet they are systematically excluded from conversations to address it. We support young people to be leaders in transitioning to a just and sustainable world by strengthening youth civil society and an intergenerational response.

Our activities - how we deliver our strategy

Our work is focused on training, supporting and connecting thousands of young people to lead change. In 2023/24, 5,221 young people led our work . These young leaders are diverse - they are volunteers, activists, researchers, campaigners and mobilisers. From leading their organisations to drive change in communities, social entrepreneurs setting up businesses to provide for their families and create local jobs, to young mobilisers responding to climate change and natural disasters and creating awareness on issues such as gender equality, and sexual rights.

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This support to young people was led by seven Hubs spread across Africa and Asia and three satellite offices, through 72 active programmes in 2023/24, working with people across 22 countries . Throughout the year we saw the increasing global reach of our work, spurred on with our engagement with wider youth civil society and the global projects working with young people and communities outside our established Hubs.

Data from our global reporting system shows how the thematic focus of the programmes our young leaders deliver will cut across our different impact priority areas: 28% come under our ‘Education and Livelihoods’ work; 40% under ‘Gender and Sexual Rights’; 29% under ‘Voice and Democracy’; and 21% under ‘Climate Justice’. The interlinked nature of these issues, and the cross-cutting nature of our work means that many programmes will cover multiple areas.[1]

Young leaders deliver a wide range of activities in line with our vision and mission, varying from programme to programme. Broadly speaking, the following models underpin much of our work. They are also not discrete, and can be combined to create unique programme designs.

• Community mobilisation: Young leaders will implement activities to change behaviours and mobilise action in their communities. This can involve the provision of peer-led education and training, both in schools and the community; further awareness raising activities - through in-person events; radio; or online; and the development of community action plans.

• Young leaders in Sierra Leone trained young people in informal settlements in financial literacy and numeracy, promoting savings behaviour and overall budget management. These have resulted in the set up of Village Savings and Loans Association that are now actively engaging with formal banking institutions and helping young people to become financially independent.

• Youth-led accountability: Young leaders hold decision-makers to account for policies, commitments and responding to problems in the community. This work will often be driven by the data collected by young people, and can involve dialogue to bring together and strengthen the link between different stakeholders, such as decision-makers, service providers and community members.

• As a result of their advocacy, young people in Zambia were invited by the District Commissioner’s Office to be a part of the discussions on the allocation of the Community Development Fund to ensure that it was reflective of their priorities.

• Youth-led research: Young people lead participatory research processes to identify challenges and solutions, informing policy and practice.

• Ten young researchers analysed the types of funding models to understand which approaches work best for young people and exploring the implications of failing to resource youth power adequately. This led to the development of ten #FundYouthPower principles that help shift power to young people, ensure trust

1 These figures add up to more than the 100 because most programmes work across multiple goal areas.

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in young people, and establish a collaborative approach between young people and funders.

• Youth training and empowerment: Young people are provided with tailored training, support, networks and mentors enabling young people to learn, adapt, grow, and ultimately thrive.

• We supported 300 young people in Tanzania with start-up kits and training to learn skills in plumbing, electrical and building work, making briquettes and poultry.

• Funding youth organizations: Young people leading organizations are provided with flexible funds and a tailored support offer to be able to respond to the unique challenges in their communities.

• 33 young people between the ages of 10 and 25 years are being funded

• through the Young Gamechangers Fund in the United Kingdom to lead social action projects in their communities.

Youth Leadership

Our work is unique as it is led almost entirely by young people. Of the 5,221 young people globally who led our work in 2022/23, 41% were male and 59% female . These young people go beyond the traditional concept of ‘volunteers’. Over the past year, these young people reached 192,211 young people to multiply leadership and create a wider pool of young people who go on to lead further change in their community.

By adopting a power shifting approach in our work, we are intentional about working with young people and communities who have previously been marginalised to lead change. We recognise the barriers that women, girls, non-binary people, people living with disabilities, and young people with different ethnicities,religion and sexual preferences face in the communities in which we work.

Our interventions are designed so young people build trust with their peers, communities and decision-makers over a long period of time. Time commitments will vary by activity, but many are embedded long term (3-12 months) in the underserved communities in which they drive change. Young Leaders are provided with comprehensive training, and we ensure that they are provided with allowances to cover any costs associated with their commitment.

Working in partnership

In addition to the work we do directly with young people, in the last year we engaged 2,782 different stakeholders around the world . These partners include government departments (38%); partner charities (21%); and informal community and youth groups (12% of the total).

As outlined in our strategy above, we are increasingly focusing our efforts on supporting global youth civil society. The Youth Collective exists to supercharge Youth Power . It’s a network of youth organisations and communities that come together, providing support that enables all young leaders and youth groups to thrive. Our Youth Collective started as an idea in 2016 and developed into an online platform in 2019 to amplify and multiply Youth Power. The platform allows us to run online events and connect people for in-person

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meetings. Now, the Youth Collective is a network of 4,745 groups[2] led by young people in 186 countries. We brought hundreds of Youth Collective members together to connect, share and learn from each other during five virtual meetings, called Leadership Labs , focussing on gender equality, menstrual health, democracy and active citizenship; set up Youth Collective thematic chapters on Enterprise and Democracy and recruited Youth Power Champions to further engagement with the Youth Collective.

We also use our expertise to advise others - from governments to corporates to civil society organisations - on how they can meaningfully engage young people. This could be through supporting strategy development processes via youth consultations or youth-led research.

How do we measure success?

Our global reporting system pulls together results and learning from across our work on a quarterly basis, enabling us to see how we are progressing. Our Hubs provide programme level quantitative and qualitative data through DevResults, our online monitoring and evaluation system. Data from this reporting system has been used to outline our main achievements in the strategic report section below.

Hubs provide data across a number of core disaggregated outputs, such as reach, which can be assessed against consolidated targets. We also have a programme performance self-assessment tool, which enables Hubs to provide an assessment of programmatic progress, based on a number of factors (progress towards objectives; implementation; and stakeholder engagement). Ratings can be pulled together in a consolidated picture.

Our Global Results Framework also provides us with a number of shorter-term and longerterm global outcomes under each goal area, which Hubs are able to map their programme outcome indicators against.The new framework will focus on consolidating evidence around key ‘learning questions’ spread across our impact priorities, and also focus on the concept of power shifting.

Programme level evaluations are conducted by different Hubs throughout the year and can be a source of more detailed outcome level insights.

Public Benefit

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

Our charitable objectives are: the relief of poverty and the improvement of the conditions of life in disadvantaged communities and countries in the United Kingdom and elsewhere; the advancement of education and learning in both the United Kingdom and elsewhere; and the provision of educational medical care and treatment of people in need overseas. We carry out these objectives through our strategy outlined above.

2 At the end of September 2024.

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STRATEGIC REPORT

1) ACHIEVEMENTS DURING THE YEAR

The following section outlines the results we have seen across the world as a result of the 72 different programmes that have been implemented. This information is drawn from our annual impact report, and is structured around the four impact priority areas.

EDUCATION AND LIVELIHOODS: We want all young people to have the skills, knowledge, resilience and opportunities that support them to thrive. We take a young people-led approach to making sure they have a quality education, and access to training and opportunities that set them up for life. We want all young people, especially women and girls, to be able to stay in school, and to make a sustainable, fulfilling living when they leave.

• We reached 55,550 people under this impact priority area, which is a slight increase on the figures from last year. Most of this reach has been accomplished through inschool and out-of-school education focussed programmes, training young people on financial literacy and supporting their entrepreneurial journeys.

• 42,759 in-school adolescent girls through programmes in India and Sierra Leone were engaged through sessions on the Right to Education and Science, Technology, Engineering and Mathematics (STEM) to motivate them to stay in school and pursue their education.

• 777 out-of-school adolescent girls in Zambia , Tanzania and Sierra Leone have been able to go back to school as a result of economic empowerment initiatives and, challenging gender and social norms including early child marriage in their communities.

• We have also seen multiple programmes successfully focus on supporting groups of young people, especially women, to access financing to support income generating activities and set up businesses.

• In Sierra Leone , improved financial literacy and linkages has led to 70% of the young women engaged through our financial inclusion project, maintaining an active bank account, 29% maintaining an active mobile money account and 30% of the Village Saving and Loans Association (VSLA) now actively engaging with the formal banking system. Findings also revealed that our financial literacy and numeracy sessions improved 79% women’s basic financial management skills, such as counting and reading.

• 2,822 young people in Tanzania , Zambia and Sierra Leone have been able to kickstart their own businesses and find jobs such as starting a movie studio, pig and poultry farming in the agriculture sector and becoming mobile money agents, enabling them to become financially independent.

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Spotlight: Global Education Monitoring Report

We supported the United Nations Educational, Scientific and Cultural Organization (UNESCO) to recruit and train young people to run eight regional consultations with over 1500 young people in their networks. This was across Africa, South Asia, Southeast Asia, Europe, Arab States, Caribbean, Latin America and the Pacific. The leaders asked about what challenges and opportunities the young people face when they use technology in education. The report, titled ‘ Technology in Education: A Tool on our terms ’ advocates for decisions about technology in education to put learners first - ensuring its use is effective, appropriate, equitable, evidence-based and sustainable. Through this collaborative effort, young people have outlined their vision and painted a clear picture of what “technology on our terms” should look like.

In the report, young people worldwide are advocating for technology that enhances, not controls, the learning experience. It includes a call to action governments to ensure the use of technology in education places learners’ best interests at the center, for technology to be affordable and universally accessible from an early age, to work jointly to develop personalized learning approaches and to reduce barriers to girls’ access to technology products and services. They also asked for technology to be appropriate by making education content suitable for the local context, for youth and teachers to be trained, for youth to be involved in decisions about the design, implementation and evaluation of technology in education.

GENDER AND SEXUAL RIGHTS: Bodies, identities, gender and sexualities are subject to discrimination and violation. We support young people to change attitudes and behaviours, as well as services and policies. We also support them to advance and uphold sexual and reproductive health and rights (SRHR), and gender equality.

• We reached 94,597 people through our gender and sexual rights work. It represents a 38% decline on the previous year. The limited figures relate partly due to active programmes either being at their inception phase or nearing the end, limiting the amount of activity.

• We have seen increased uptake and awareness of sexual and reproductive health services as a result of community awareness sessions and peer-to-peer learning and countering gender and social norms, especially around child marriage through increased stakeholder engagement across our work:

• A total of 21,538 stakeholders (gate keepers) such as local councils, parents and religious leaders were engaged in developing strategies to challenge social norms like early child marriages in Tanzania, Zimbabwe, Zambia, Uganda and Sierra Leone. In Sierra Leone specifically, 5,400 parents and caregivers participated in developing community by-laws to prevent violence against children (VAC), adopting non-violent discipline methods to promote healthier family environments.

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• 40,786 young people and community members have participated in Intergenerational dialogues to address the issue of child marriages in Uganda , Zambia and Nepal .

• Multiple programmes across Tanzania , Zambia and Uganda have supported 61,783 young people to access SRH information and services such as UTI & HIV testing and contraceptives through Community Health Educators.

• Intergenerational and Social Action and Analysis Dialogues in Uganda and Zambia have resulted in creating a safe and supportive environment for girls to stay in school with 91.8% of girls expressing confidence that their parents would support their right to attend primary school, 90.8% reporting the same for secondary school and 80% believing that adults would support their right to choose their spouses.

• We hosted various global spaces with young people; notable being the youth-led Youth Power Summit in New York which provided a unique platform for young leaders to take centre stage, share bold solutions, and hold decision-makers to account; a session during the Feminist Futures Festival on behalf of the Walking the Talk consortium; and supporting the WhatGirlsWant campaign calling for the inclusion of girls' rights, needs, and demands in efforts that shape their future.

"I now encourage my daughters to openly discuss the challenges they face and share any information they have about sexual and reproductive health. I set aside time for these conversations—every Thursday at 5 p.m. They love the idea, and now they confidently speak up. I guide them and correct any misinformation, which I find very rewarding."

— Community leader from Madi Okollo Town Council, Uganda.

Spotlight on: State of Youth Civil Society research

Every year we publish our State of Youth Civil Society - this youth-led research gives us a global sense check on how youth civil society is doing, including what’s supporting it and what’s getting in the way of it thriving. This year’s report focused on analyzing the type of resources that enable youth civil society to thrive, identify alternative resourcing mechanisms, and explore the implications of failing to resource youth power adequately.

Led by 10 young researchers from across the globe, Resourcing Youth Power to Thrive engaged directly with funders to understand the kinds of funding mechanisms that have worked for funding youth power and calls on traditional donors, private sector funders, development practitioners and governments to align with what young people say works for them, by implementing the ten #FundYouthPower principles:

1. Put young people in the driving seat. 2. Compensate young people fairly for their part in the process. 3. Make the application process easy and accessible. 4. Don’t just fund the usual suspects, fund traditionally marginalised excluded groups and individuals as well.

2. Provide unrestricted, core and long term funding. 6. Treat each young person as an individual. 7. Invest in young people beyond finances.

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1. Prioritise mental health and well-being support

2. Look to the future. Develop sustainability plans with the grantees.

3. Monitor together.

VOICE & DEMOCRACY: We believe more just and participatory democracies are possible, where institutions are accessible and responsive to young people. We support young people to lead as active citizens and create change in their communities by influencing social and political structures, and those in power. As you will see, this impact priority runs across all of our work.

• We reached 30,572 people under this impact priority area, which represents a slight decrease on the figures from last year (8% decrease on 2022/23). This has been due to limited community engagement activity and more focus on using the evidence generated for accountability and improved service provision.

• 22,753 young people have engaged duty bearers in community dialogues to address pressing issues related to corruption and miscommunication in the distribution of school bursaries, limited participation and access to flexible funds for young people and procurement of equipment funded by the Constituency Development Fund (CDF) in Zambia and Sierra Leone . As a result, young people were invited by the District Commissioner’s office to be part of the district level discussions related to the allocation of the Community Development Fund (CDF), following a letter they had written advocating for the inclusion of youth in these decision-making spaces.

• The Tanzania hub was one of the local organisations tasked by the national government to engage young people to bring a youth perspective to the country’s upcoming National Development Plan as well as educate first time voters on exercising their right in a responsible manner for the upcoming elections. Through the Kijana Wajibika project, we worked with 9 youth focused CSOs across 9 regions to create civic awareness among young people. 77% of young people we engaged participated in the elections; with 4% being candidates for various positions.

• Over 270 young activists participated in Democracy Moves 2024 Annual Conference themed "Youth Power for Inclusive Democracy: Exploring New Innovations in Evolving Civic and Governance Spaces”, held in Nairobi, Kenya. The conference spotlighted concerns of the next generation about global democratic erosion and rising youth discontent with the state of democracy; coincided with a Gen-Z protest in Nairobi, underscoring the urgent need for youth activism.

“In April 2024, the Community Development Officer selected me to attend a course on GBV prevention and gender issues in Mbeya. After the training, the ward leadership identified me as a GBV/gender focal person at the ward”

• a young person from Mwendapole ward Tanzania.

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Spotlight: Summit of the Future and Pact of the Future

The United Nations Summit of the Future, held in New York in September 2024 provided an opportunity for world leaders to address global challenges and adopt a new agreement to guide international cooperation. This Summit was a crucial moment for the young people that we work with as the impact of the negotiations would shape their future. This is why it was important for us to be involved in the processes leading up to the Summit to ensure that young people and their priorities are included in the final outcome.

As part of the Summit of the Future process, we participated in the Future Generations Forum (Cardiff) and the CSO Conference (Nairobi), laying the groundwork for us to join and engage with the imPACT Coalitions, including on Future Generations and the Feminist Caucus.

through these, we advocated for language on flexible funding, accountability for the youthfocused chapter and partnership with young people, as well as engagement with the UK Government on their position, resulted in adoption of Pact for the Future that reflects commitments to, and provides avenues for us to further programming around strengthening youth participation in global and national decision making through the establishment of consultation mechanisms, creating conducive environments, developing core principles for meaningful youth engagement, resources for youth-led organisations, and flexible funding through a global youth investment platform. In addition, it also calls for the promotion of sustainable consumption and production patterns, the conclusion of a legally-binding agreement on plastic pollution, reversing biodiversity loss and protecting ecosystems.

CLIMATE JUSTICE: Young people risk losing the most from climate change, yet they are systematically excluded from conversations to address it. We support young people to be leaders in transitioning to a just and sustainable world by strengthening youth civil society and an intergenerational response to climate change.

• We reached 11,492 young people through our work on climate justice. This presents a substantial increase from the previous year, majorly due to climate change related work in India, Nepal and Uganda.

• 1,146 young people were engaged through the "TagMe Campaign", a digital initiative focused on raising awareness about landslides in Nepal . The campaign empowered participants to report incidents, while also advocating for policy reforms to enhance environmental protection efforts in the country.

• In Tanzania , 12 civil society organisations were trained to raise their awareness in climate change and are now actively participating in the implementation of climate action activities. These include restoration of mangrove forests along the Lindi Municipal coastline, and tree plantation and waste management in the Ubungo Municipality.

• The Nepal hub signed a Memorandum Of Understanding with government schools and youth groups, completed the circular economy curriculum and Trainer Of Trainers (TOT) for climate smart schools as well as publishing research studies on

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the assessment of climate and environment concerns in two provinces, which will form the basis for advocacy in the next year.

Spotlight: Youth Climate Funds

Youth Funds highlight our continuing commitment to shifting power to young people and youth-led organizations so that they can lead changes that respond to the priorities of their peers and communities.

The Youth Climate Action Lab programme in India funded five youth-led organizations in Bengaluru, a city in Southern India through a Youth Fund with the aim to amplify and fund innovative work being done by young people to tackle climate change. The organizations used the Youth Fund for the following:

Building a Youth Parliament to raise awareness amongst different stakeholders on fighting plastic waste through a campaign around reusing cutlery and reducing plastic waste that targeted wedding halls.

• Developing toolkits and gamification of climate change and knowledge sharing with adolescents and young adults.

• Create awareness on the importance of safe drinking water as an essential determinant of better health outcomes by supporting community-led action to build resilience through water management strategies and climate action. To create awareness on composting, solid and wet waste management. Rejuvenation of a community well that will now provide safe drinking water to more than 400 households.

Our reach:

Our total direct reach for the year was 192,211 . This is a 33% decrease on the previous year and is due to the changing nature of our programmes that do not require extensive community engagement.

Reach over the past five years:

~~Pa~~ ~~ee~~ ~~a~~	2019/20 ~~a~~ ~~——+—_}——~~ ~~a~~	2020/21 ~~a~~ ~~——+—_}——~~ ~~a~~	2021/22 ~~——+—_}——~~ ~~a~~	2022/23 2023/24 ~~——+—_}——~~ ~~a~~	2022/23 2023/24 ~~——+—_}——~~ ~~a~~
Cross Cutting 8470 ~~Pa~~ ~~ee——+—_}——~~ ~~a~~
Voice & Democracy 52,584 15,240 87,817 33,492 30,572 ~~ee——+—_}——~~ ~~a~~ ~~ee~~
Education & Livelihoods 34,451 34,200 6,406 57,119 55,550 ~~ee ——+—_}——~~ ~~a~~ ~~ot~~ ~~ee~~
Gender and Sexual Rights 171,800 99,474 286,777 151,789 94,597 ~~ot~~ ~~ee~~
Leadership3 9,752 54,006 81,360 - ~~ot~~ ~~a~~ ~~———~~ ~~=~~
Climate Justice4 - - - 3,140 11,492 ~~a~~ ~~——~~ ~~———~~ ~~=~~ ~~=~~
Total ~~——~~ ~~———~~	268,587 ~~——~~ ~~———~~	202,920	462,360	245,540 ~~=~~ ~~=~~	200,681 ~~=~~ ~~=~~

4 This impact priority area was introduced in the 2022/23 under consideration.

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Breaking this figure down further, 66% of those reached were female and 34% were male[5] and 0.3% were reported as having a disability . Our disability engagement has reduced from the past year (2% in 2022/23) but remains low as Hubs have found it challenging to reach people with disabilities through routine community engagement activities that are not tailored to their specific needs.

Outside of these young people we have reached directly with our activities, we have a wider indirect reach of millions taking into account online events, meetings, campaigns and awareness raising on radio. Our wider reach also includes others, such as parents, teachers and community members.

Our impact on Youth Civil Society:

We continued in our efforts to strengthen youth civil society, supporting grassroots youth-led organisations and youth-led change at scale.

• The Youth Collective is now a network of 4,745 groups led by young people in 185 countries.

• We renewed our commitment to supercharge Youth Power through growing the Youth Collective by creating a Youth Collective Strategy that focussed on nurturing, connecting, celebrating and funding young people and youth-led organisations; setting up thematic chapters for education and democracy; focussed on recruiting and building a dedicated team to update and rebrand the website and newsletter; and future growth and engagement with the network.

• Our annual Youth Collective Impact Assessment survey showed impressive results: [e) 64% of members in 2024 have shared that they observed positive changes within their organisations since they joined the Youth Collective; an increase from 46% in 2022.

• They felt that their respective organisations have benefited from engaging with the Youth Collective through forming credible relationships with other like-minded organisations.

• 66% of the organisations reported to have gained new skills and knowledge through their engagement with the Youth Collective.

• Leadership Labs continue to provide a space for young people and their organisations to connect and learn from each other. Four Leadership Labs were conducted, intersecting with different networks and impact priority areas, such as

• Commemorating 16 Days of Activism through a Youth Collective and Democracy Moves collaboration that focussed on strategic advocacy for gender equality, addressing violence against women in politics and the role of men in promoting gender equality; and an in-person lab in Honduras with a Community of Action participant (We Lead programme) on their work around menstrual health.

• ‘Empowering Youth for Climate Justice, Bridging the Gap in Climate Action through Powershifting, and Youth Resourcing’; partnership between the We

5 The proportion of young people who identified themselves as ‘other’ (which includes those people who do not share their gender identity or do not see gender as binary) was negligible.

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Lead programme represented by the Jordan Community of Action participant and Democracy Moves.

• In-person Leadership Lab, ‘Solidarity: Feminism and Colonialism’, held with the Lebanon Community of Action.

• Through a youth-led and participatory process, we supported the Steering Group under the Young Gamechangers Fund to make decisions on where the first round of funding would go. From 350 applicants, over 30 projects have been selected - including both individual young people and youth-led organisations, across the UK and covering a range of issues, such as LGBTQ+ issues, mental health and homelessness; with an average grant size of GBP 19,000 that would be rolled out from March. We have also been building a support offer for the grantees, focussing on providing one-to-one support and mentorship for their projects.

2) CHALLENGES AND LESSONS LEARNT

We have identified a number of common challenges and lessons learnt in the delivery of our work over the past year. Some of these are a continuation from previous years, and relate to wider global context.

• Political tensions, restricted civic space, and global conflict have impacted some operations throughout the year. Election campaigns and increasing restrictions from governments on civic freedoms, resulting in a shrinking of civic space, have been observed as a global trend, which is not confined to a single country. Some of our impact priorities have been impacted more than others, for example, tightening laws around sexuality have had an impact on our work on sexual rights.

• Challenges in the global economy of a high inflationary environment and fluctuation of the pound sterling have resulted in the potential for financial losses and impacted on programme delivery. We have responded by continuing to monitor this situation closely and taken steps to mitigate the impact by budgeting in local currencies and with tight budgetary controls. The financial losses have also brought fragility to our cashflow at times; however, we have been able to navigate this by careful planning and management.

• Challenging funding landscape brought by shifting donor priorities in multiple hubs, limited funding flexibility and restrictive registrations that impact limit sub-granting and engagement with informal groups has limited the extent to which we have been able to work with young people and youth groups who necessarily may not have the required credentials to receive funds, but need it.

• Delays in fund disbursements by donors across multiple Hubs has led to subsequent delays in activities and has required the revision of work plans, in some cases hampering the efficiency and effectiveness of our work.

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Plans for Future Periods:

The following section outlines our plans for the years ahead framed around the three pillars that we apply to the leadership of our organisation: Strategy; Business Development and Operations. The direction is grounded in our strategy; the changing global context around us; and the lessons we have learnt over the past year. In particular, we would highlight the following factors:

• Our commitment to shifting power: This concept lies both at the heart of our strategy and how we operate. We are committed to distributing leadership and breaking down any inherent structural racism in our agency.

• The changing face of youth leadership: Our experience and research shows us that while youth civil society is increasingly threatened and underfunded, it is also increasingly optimistic. In the face of this, our purpose is to enable youth-led change, by strengthening youth civil society so that new opportunities, movements, enterprises and initiatives are possible.

• A changing world: We recognise the ongoing global uncertainty we face and the numerous, interconnected crises we face. We must ensure our resilience and flexibility in the face of these.

Strategy:

The focus for 2024/25 will be on the recognising, celebrating and amplifying youth power via the Youth Collective. This includes:

• Rolling out our Youth Collective strategy: We will continue in our efforts to take forward our Youth Collective Strategy, building national and regional plans to expand our thematic Youth Collective networks, and focusing our fundraising to ensure the sustainability of the Youth Collective.

• Impact where it matters: We will continue to focus on what matters most to young people, for example concentrating on protecting women’s rights, growing our portfolio of work on climate and education, and embedding young people in democratic processes under our voice and democracy work. Maintaining our approach to research and learning, we will ensure youth led research informs our programme design and delivery as well as our advocacy and influence work.

• State of Youth Civil Society Report: The State of Youth Civil Society report is Restless Development's annual global, youth-led publication that explores the realities that youth civil society and social movements are experiencing. The 2024 research report will focus on analysing the types of resources that enable youth civil society to thrive, and explore the implications of failing to resource youth power adequately.

Business Development:

Our vision for Business Development is to successfully re-position Restless Development in the funding market, working with our high performing, diverse and inclusive team to mobilise funds that will shift power directly to young leaders around the world.

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Our fundraising is made up of:

• Programme Funding : We will secure more long-term (three years or more) fullycosted restricted funding for our currently under-resourced strategic areas.

• Strategic Funding: We will increase our financial sustainability as an agency by securing both global and Hub level strategic funding by 25/26.

• Unrestricted Funding: We will rebuild and grow all types of unrestricted income, progressing from 18% in year one of strategy; to 25% in year two; and 30% in year three, focusing in particular on scaling the Schools Triathlon series to £3m+ by 2028.

Operations:

October 2023 saw the launch of our new power-shifting agency model and Agency in Action checklist - holding us to account on our feminist, inclusive, gender transformative and antiSo racist approach to how we operate. In 2024 we:

• Launched of re-imagined values , redefining what they mean to us through our powershifting lens.

• Set up a global governance working group from across our national Boards to explore what a truly collective governance structure could look like.

• Received feedback on our financial model from all our national Boards, taking recommendations forward in its design and implementation.

• Drafted a collaborative agreement which will define and document how we all work together whilst protecting our individual autonomy.

• Began a full review of global policies to reflect our power shifting approach which will then be followed by nationalisation of these policies.

• Implemented a quality assurance framework aligned to our agency plan ambitions, monitoring our performance and progress towards our change ambitions.

Safeguarding

The safety and welfare of staff, young leaders and the communities we work with is paramount. Our safeguarding systems are designed to cause no harm through our work . Our commitment remains to do everything in our power to ensure that harm caused by anyone linked to us is reported, investigated, with appropriate measures taken.

Safeguarding is overseen at a governance level by two members of the Global Board of Trustees. Global accountability is delegated to the Lead Safeguarding Officer (our Head of People) and a Safety and Safeguarding Manager. Each Hub Director is a Lead Safeguarding Officer and a Hub based Safeguarding Lead trained to maintain local standards, compliance

17

ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

and processes. The Hub Safeguarding Lead becomes a member of the Global Community of Practice led by the Safety and Safeguarding Manager.

As a minimum requirement, each Safeguarding Officer is trained and receives enhanced safeguarding training every two years. Additional training is provided through our annual allstaff re-induction process and quarterly staff workshops (QSWs).

Reporting : Restless Development reported all serious incidents to its Trustees, the Charity Commission, local authorities where relevant and appropriate donors where required. During the report period, four safeguarding and safety causes for concern were reported which were minor incidents were recorded and reported to trustees. None of these were reported to the Charity Commission as they were not serious incidents therefore did not meet their threshold for doing so.

Election preparedness interventions were conducted for India and Tanzania to ensure safety of all staff and program continuity during that time. Over the course of the year unrest in the MENA region escalated which called for active safety and wellbeing support for affected staff members. Fortunately no harm came to our staff and partners during this period.

Plans for this year:

• We will complete the onboarding of the Safety and Safeguarding Manager and fully take over the function and pick up any outstanding tasks.

• We intend to launch and roll out the safeguarding reporting pathways to ensure a high standard of accountability across the agency.

• Build the capacity of the Community of Practice and convene the Safeguarding and Incident Management Working Groups in order to enhance the safeguarding culture. Ensure all safeguarding training will be delivered for all global Trustees .

Key Management Personnel and Pay Policy

The Trustees of Restless Development define Key Management Personnel as being the Global Leadership Group, led by the Co-Chief Executive Officers, who are in charge of directing and controlling, running and operating the Charity on a day to day basis. All Trustees give their time freely. Details of Trustees remuneration are disclosed in note 5 to the accounts.

Restless Development operates a published Global Salary Scale, the purpose of which is to ensure that all staff across the organisation are paid equitably, irrespective of nationality or location : the Global Salary Scale comprises a set of economically equivalent salaries for a set of defined staff grades across each country where Restless Development operates. Staff grades are defined internationally based on standard Job Descriptions, competencies and behaviours which set out roles and responsibilities.

The Global Salary Scale is benchmarked periodically against external market data to ensure that salaries are competitive in all the countries where Restless Development operates. In 2022/23 Restless Development carried out a review of its Global Salary Scale in preparation

18

ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

to launch a new five-year salary scale. Whilst the ambition to align to the fiftieth percentile of the market in each country was maintained, following an extensive staff and young leader consultation, banding was introduced within each role level to recognise length of service whilst discouraging stagnation, additional benefits were equalised across all role levels, parenting leave was equalised for all parents, and qualification for sick pay was brought forward to day 1 (from the completion of probation). This new scale was introduced in October 2023 and is expected to be implemented incrementally over the next 5 years.

Risk

The global risk register is defined as six key risks:

• Income - Lack of flexible or strategic income to sustain the agency’s financial position

• Cashflow - The Agency runs out of cash and we are unable to meet our financial commitments.

• Reputational Risk - negative perception damages our brand and reputation and we suffer a loss of trust in the communities in which we operate.

• Demonstrating Impact - failure to demonstrate the impact of our work leads to a loss of credibility. This is intrinsically linked to successful programmatic delivery and implementation of the global strategy.

• People Retention and Succession - Inability to attract and retain talent at all levels of the agency undermines our ability to function effectively and deliver quality work.

• Incident Mitigation and Response - Restless Development is responsible for causing harm to our people and the communities we work with because of our inability to maintain our duty of care or due to apparent management neglect.

During 2023/24 the Agency had a stable cashflow situation with a 12 month horizon, therefore this risk was considered low. However, when considering future secured income the challenging funding environment and relatively high dependency on restricted income meant that Income Generation continued to be considered one of the highest risk areas.

During 2023/24 incident mitigation and response risk was raised to a high level due to concerns around the unrest in the MENA region (where one staff member is located) and also due to an increase in the number of causes for concern. There was also a change in the Safety and Security manager, raising the risk level during the handover period. This was subsequently reduced during Q1 24/25 due to the increased capacity in this area.

The previously high risk around People Retention and Succession was reduced during 23/24 due to the successful onboarding of the new Head of People, based in Zimbabwe and the progression in conversations around the global governance model. This therefore stabilised at a moderate level of risk.

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FINANCIAL REVIEW

Financial performance in 2023/24

Restless Development’s income has grown by 2%, which is driven by 3% growth in unrestricted fundraising income. The unrestricted fundraising increase is caused by a £380,000 increase in event related income. This was due to adding a further three schools to the triathlon event series and a 21% increase in participants.

This growth in unrestricted fundraising income offsets a 3.5% decrease in programmatic income due to several large programmes concluding, particularly in the Sierra Leone Hub, such as the Jersey Overseas Aid funded Financial Inclusion for Women in Freetown project and the Tusonge Lubono ll project, in Zambia hub.

The Power up appeal required £80,000 funds to be set aside to support Sierra Leone Hub in 2022 of which £34,000 has been utilised in 2024 for a vehicle purchase and the remainder will be utilised in the final year of the project in 2025.

Income from the overseas Hubs (£4,770,000) made up 53% of total income compared to (£4,105,000) 52% in 2022/23. Restricted reserves increased due to a number of new programmes commencing and funds being received in advance of programme activities.

Financial review summary	Financial review summary	Financial review summary
2024 2023
Income 8,056 7,894
Expenditure (7,730) (8,227)
Foreign exchangegain/(loss) (231) (249)
Increase/(decrease) in total funds 95 (582)
Of which:
Increase/(decrease)in free reserves (39) (76)
Increase/(decrease) in designated reserve (34) -
Increase/(decrease) in fixed asset reserve (25) (4)
Increase/(decrease) in restricted reserve 194 (502)
Total	95	(582)

The impact of movements in foreign exchange rates in 2023/24 has been a £231,000 loss, which was due to some significant depreciation of African currencies during the year. The largest movements were in ZMW which depreciated 33% during 2023/24 and the TZS in Tanzania which depreciated 21%. Foreign currency balances held at year end are translated at the exchange rate on the balance sheet date and therefore can be subject to fluctuations. Where appropriate, funds are held in hard currencies such as GBP and USD, however ultimately the majority of Restless Development’s activities occur in sub-Saharan Africa and South Asia and therefore exchange rate risks can never be completely eliminated. Further work will be continued to mitigate this risk in the current year.

Reserves Policy

Restless Development has a reserves policy which is regularly reviewed by Trustees against the current risks faced by the organisation. Restless Development adopts an approach that provides a benchmark against which Trustees assess the adequacy of unrestricted reserves. This approach aligns the unrestricted reserves benchmark closely with the risks

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

the organisation has identified on the Risk Register by going through an exercise to cost the potential impact of the risks crystallising in order to calculate unrestricted reserves benchmark.

The benchmark used by trustees takes the average of three approaches. The first approach quantifies the risks and sums all of the risks that have a probable likelihood of occurring. The second approach takes the total of the two most expensive risks and the third approach uses a weighted average based on the likelihood and probability for each of the six risks on the risk register.

Based on the Risk Register as at April 2024 the benchmark for Free Reserves is £661,941 (2022/23: £713,396). At 30 September 2024, Restless Development had total funds of £2,179,000. Restricted funds were £1,528,000 (2022/23 £1,335,000) and Free reserves were £556,000 (2022/23: £595,000) which represents 84% of the current benchmark set by the Trustees.

In addition to these measures the trustees use a secondary measure to compare the free reserves with 3 month average running costs (made up of admin, governance, fundraising and support staffing). When looking at 3 month average running costs our reserves are at 74% of this target.

The organisation's reserves continue to be closely monitored with the ambition of rebuilding them incrementally, recognising that due to the USAID grant terminations this is unlikely in 2024/2025.

Fundraising Objectives

Alongside Restless Development’s Global Strategy and Agency Plan sits a Financial Model that guides our financial sustainability and resourcing decisions. Securing funding to be able to deliver our strategy and achieve our goals requires appropriate and consistent investment in order to operate effectively. Restless Development aims to secure the funding it needs to deliver its programmes effectively, from sources and partners who fully support the mission and values of the organisation, without becoming over-reliant on any single donor. Restless Development strives to engage each of its supporters in its work, and so maintains a full and transparent reporting and communications system to ensure that donors are well informed of the successes and challenges being faced in the programmes which they are supporting.

Fundraising approach and performance -

In 2023/24 the charity undertook fundraising activities through school triathlon events and in person fundraising events. Restless Development does not employ professional fundraisers to generate income for the charity, nor do we engage in cold-calling, door-to-door or street fundraising. Restless Development is registered with the Fundraising Regulator and adheres to the Fundraising Code of Practice and UK Fundraising Standards. No complaints have been received by the charity regarding any fundraising activities.

In 2023/24, fundraising activities raised £1,736,000 compared to £1,356,000 in 2022/23. This increase is due another two events being added to the triathlon series and a 21% increase in participants.

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

ORGANISATIONAL STRUCTURE, GOVERNANCE AND MANAGEMENT

Restless Development continued to be active with a full-time presence and set of programmes during 2023/24 in India, Nepal, Sierra Leone, Tanzania, Uganda, Zambia and Zimbabwe. Restless Development operates in each of these Hubs through a locally registered organisation with its own national Board of Trustees and treats these organisations as branches for the purpose of preparing consolidated accounts. A Trademark Licence Agreement is held between the UK entity and all other Hubs allowing the collective use of the Restless Development brand.

The agency also operates through three satellite offices in the UK, the US and Delhi. These offices offer a service function to the agency such as fundraising and administration. They have various registration identities and are not led by Leadership Teams – instead, they are under the guidance of the Global Leadership Group.

Each Hub has a Hub Director who, with their leadership team, leads their team of staff who implement the work of the agency and support volunteers and alumni in the implementation of programmes. The Hub Director also functions as a member of the Global Leadership Group representing their team and country in our collective leadership of the broader agency.

The ‘Pod’ provides support, direction and oversight of all of the organisation’s activities. It is led by Co-Chief Executive Officers supported by the Global Leadership Group (GLG) which is a representative group of leaders from across all Hubs and Satellites with the responsibility for the sustainable health and impact of the global agency. It collectively leads the direction of the global agency and makes decisions on behalf of the global agency. The policy of Restless Development is to work towards all Hubs being self-sufficient financially, sourcing funds from government, private sector, bilateral and multilateral institutions, with support as necessary for fundraising from the Pod.

Governing Documents

Restless Development, founded originally in 1985, is a Charitable Trust governed by its Memorandum and Articles of Association dated 9 February 2012. It is registered with the Charity Commission (No. 1127488). Restless Development is also a company limited by guarantee; the company’s registered number is 6741123.

The global Board of Trustees accommodates three committees to reflect our agency, and to ensure time is dedicated to different topics in the quarterly meetings. The Committees are Business; People & Culture and Strategy.

Recruitment and Appointment of Trustees

Board and Committee reviews are used to identify potential gaps during the recruitment of new Trustees. New potential Trustee candidates can be put forward by any Trustee, Patron, the Chief Executive or Restless Leadership Team member. Once put forward, prospective Trustees are interviewed by current Trustees, including the Chair, and also meet with the Charity’s Chief Executive Officer or a member of the Restless Leadership Team. The

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ANNUAL REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

interview process informs both parties, providing the individual with a solid grounding in Restless Development’s strategic aims, programmes and priorities, as well as familiarity with the Trustees’ Terms of Reference, meetings schedule and expectations. If the prospective Trustee is assessed to be a good fit with the Charity’s aims, values and the existing mix of Trustee skills and networks, the current Trustees vote on whether the individual should join the group.

Training of Trustees

Trustees are recruited for their specific skills and experience to meet organisational priorities and ensure a wide range of specialist areas. Training for Trustees is conducted in three ways:

1. Trustees Induction: Each Trustee, following appointment, has an induction meeting with the Chair, the Chief Executive and members of the Global Leadership group covering the organisation’s background, current focus and strategy and key documents.

2. Trustees Away Days: Trustees hold an annual Away Day where a wide variety of topics are covered, depending on priority areas for Trustee training identified by the Chair, the Trustees and the Chief Executive.

3. Safeguarding training: Two Trustees are nominated and trained as Safeguarding Officers. They have oversight of and ultimate responsibility for a comprehensive set of policies, reporting processes and agency training plans that are led through the Operations Unit. The (Trustee) Safeguarding Officers work with the agency's Lead Safeguarding Officer and team on both the ongoing Safeguarding processes and any incidents as they arise.

Restless Development operates planning and budgeting systems with an annual budget reviewed by the Business Committee and approved by the Trustees. Any significant changes to these plans are subject to Trustees’ approval. Revised forecasts are undertaken quarterly during the course of the year, and reviewed by the Business Committee and the Trustee Board. Restless Development’s financial reporting system compares actual performance to approved budgets on a monthly basis.

23

TRUSTEES’ RESPONSIBILITY STATEMENT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

TRUSTEES’ RESPONSIBILITIES STATEMENT The Trustees (who are also the directors of Restless Development for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), and the Financial Reporting Standard 102.

Company law requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in the Charities SORP;

• Make judgements and estimates that are reasonable and prudent;

• State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

AUDITORS

A resolution proposing the appointment of auditors to the Charity will be put to the annual general meeting.

STATEMENT AS TO DISCLOSURE TO OUR AUDITORS

In so far as each of the Trustees are aware at the time of approving the Trustee’s Annual Report:

• There is no relevant information, being information needed by the auditor in connection with preparing their report, of which the charity’s auditor is unaware, and

• Each of the Trustee’s, having made enquiries of fellow trustees, has taken steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Approved by the Trustees and signed on their behalf by:

Jenny Wilson, Chair of Trustee Board Date:

24

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Independent Auditor’s Report to the Trustees of Restless Development

Opinion

We have audited the financial statements of Restless Development (the ‘charitable company’) for the year ended 30 September 2024 which comprise the statement of financial activities, the balance sheet, and statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 30 September 2024 and of its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report and financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other

25

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ report, which is also the directors’ report for the purposes of company law and includes the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees’ report, which is also the directors’ report for the purposes of company law and includes the strategic report, has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 25 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 charitable company’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 charitable company 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

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INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations; and

• we obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom (FRS 102), the Charities Act 2011 and the Companies Act 2006) and those that relate to the Code of Fundraising

We assessed the susceptibility of the charity’s financial statements to material

misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• performed substantive testing of expenditure including the authorization thereof; and

• tested journals to identify unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• review of the minutes of meetings of those charged with governance; and

• enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hugh Swainson (Senior Statutory Auditor) For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL 28 May 2025

28

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH SEPTEMBER 2024

		Unrestricted	Restricted	2024	2023
		funds	funds	Total	Total
	Notes	£000's	£000's	£000's	£000's
INCOME FROM:
Donations and legacies
Grant income	2	357	5,963	6,320	6,538
Unrestricted fundraising		1,736	-	1,736	1,356
		----------------	----------------	----------------	----------------
Total income		2,093	5,963	8,056	7,894
		----------------	----------------	----------------	----------------
EXPENDITURE ON:
Raising funds		(1,090)	-	(1,090)	(759)
Charitable activities		(1,102)	(5,538)	(6,640)	(7,468)
Foreign exchange
gains/(losses)		1	(232)	(231)	(249)
		----------------	----------------	----------------	----------------
Total expenditure	3	(2,191)	(5,770)	(7,961)	(8,476)
		----------------	----------------	----------------	----------------
		----------------	----------------	----------------	----------------
Net movement in funds	4	(98)	193	95	(582)
		----------------	----------------	----------------	----------------
Reconciliation of funds
		----------------	----------------	----------------	----------------
Total funds brought		749	1,335	2,084	2,666
forward
		----------------	----------------	----------------	----------------
Total funds carried forward	14	651	1,528	2,179	2,084
		==========	=========	==========	==========

All income and expenditure derived from continuing activities.

The notes on pages 33 to 50 form part of these financial statements.

29

BALANCE SHEET AS AT 30TH SEPTEMBER 2024

		2024		2023
	Notes	£000’s	£000’s	£000’s	£000’s
FIXED ASSETS	6		165		236
CURRENT ASSETS
Debtors	8	573		749
Bank and cash		1,948		1,773
		------------		--------------
			2,521		2,522
			--------------		--------------
			2,686		2,758
CREDITORS:amounts
falling
due within one year	9		(507)		(567)
Amounts falling due in greater	10		-		(107)
than 1 year
			----------------		----------------
NET ASSETS			2,179		2,084
			=========		==========
REPRESENTED BY:
Funds
Restricted	12		1,528		1,335
Unrestricted	14
Fixed Asset
Reserve			49		74
Designated
Reserve			46		80
Free Reserves			556		595
			--------------		----------------
			2,179		2,084
			=========		=========

The financial statements were approved by the Trustees and authorised for issue and signed on behalf, by:

Justin Justin Derbyshire, Chair of Business Committee ASEIM De b M ¥ 2 Registered Company Number: 06741123 Registered Charity Number: 112748

Date: 27/05/2025

30

CASHFLOW STATEMENT FOR THE YEAR ENDED 30TH SEPTEMBER 2024

		2024		2023
	Notes	£000’s	£000’s	£000’s	£000’s
Cash flows from operating activities	A		399		(102)
Cash flows from investing activities:
Additions to property, plant and equipment		(77)		(81)
		--------		--------
Net cash used in investing activities			(77)		(81)
Cash flow from financing activities Loan Repayments			(147)		(40)
			-----------		-----------
Net decrease in cash and cash equivalents			175		(223)
Cash and cash equivalents on 1 October			1,773		1,996
			-----------		-----------
Cash and cash equivalents on 30 September	B		1,948		1,773
			======		======
NOTES TO THE CASHFLOW STATEMENT
A RECONCILIATION OF NET INCOME TO NET CASH
FLOW FROM OPERATING ACTIVITIES
Net (expenditure) for the reporting period (as per the statement of financial activities)			95		(582)
Adjustments for:
Depreciation			112		90
Revaluations			35		54
Loss on disposal of fixed assets			1		-
			-----------		-----------
Operating surplus (deficit) before working capital changes			243		(438)
Decrease in amounts receivable			176		380
(Decrease) in amounts payable			(20)		(44)
			-----------		-----------
Cash generated from/(spent on) operations			399		(102)
			======		======
B CASH AND CASH EQUIVALENTS
Cash and cash equivalents consists of cash on hand and at bank			1,948		1,773
			-----------		-----------
Total Cash and cash equivalents			1,948		1,773
			======		======

The notes on pages 33 to 50 form part of these financial statements

31

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. ACCOUNTING POLICIES

Restless Development is an incorporated charity (Registered Charity Number: 1127488 and Registered Company Number: 06741123), registered in England and Wales. The address of the registered office is New Wing (T132) Somerset House, Strand. Restless Development meets the definition of a public benefit entity under FRS 102. The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements are prepared in accordance with the Statement of Recommended Practice for Charities (SORP 2019) and applicable accounting standards (FRS 102) and Companies Act 2006.

b) Going concern

The trustees have reviewed the charity’s financial position, levels of cash and reserves and forecasts for 2025 and 2026. Forecasts include discounted income pipelines, secured funding and the impact of pipeline income not becoming secured. They do not consider there to be any material uncertainties regarding the charity’s ability to continue as a going concern. Therefore, the trustees have a reasonable expectation that the charity has sufficient resources to continue operating for the foreseeable future and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

c) Cash and bank in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

d) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

e) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

f) Foreign currency translation

The charity’s functional and presentation currency is pound sterling. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are recognised in the Statement of Financial Activities.

32

g) Voluntary income

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Including donation, grants, legacies and volunteer contributions is recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability.

The following specific policies apply to categories of income:

Performance based contacts: where Restless Development provides goods and/or services in return for a fee as part of its charitable activities such contracted income is recognised as incoming resources in the SOFA to the extent that Restless Development has provided the goods and/or services thereby earning the right to consideration by its performance.

Grants from governments, institutional donors and trusts & foundations: where related to specific conditions; are recognised as income in the SOFA when the conditions have been substantially met and the associated expenditure is incurred. Grants that are not subject to specific performance deliverables or conditions are recognised in full in the SOFA when they become receivable. Where income is received in advance of its recognition in the SOFA it is deferred as a liability until certainty exists that the conditions imposed can be met. Where entitlement occurs before incoming resources are received the income is accrued.

Donated services and facilities are included as 'Voluntary income' at their estimated value to the charity when received, and under the appropriate expenditure heading depending on the nature of service or facility provided, at the same value and time.

h) Expenditure

Is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising salary and other central costs, is apportioned on the basis of agreed donor budgets and where applicable, staff time attributable to each activity. All expenditure is accounted for on the accruals basis.

• Fundraising costs represent all expenditure incurred to raise income from various sources.

• Volunteer–led activity costs and expenses represent all expenditure incurred in order to implement charitable activities. It also represents a proportion of support costs based on the input to the charitable activities from central costs.

• Support and administration costs represent that proportion of central costs incurred in the management of the organisation.

• i) Fund accounting

Restless Development’s funds fall into the following categories:

Restricted Funds are only available for expenditure in accordance with the donor’s directions. Income and expenditure on these funds are shown separately within the statement of financial activities. Unspent funds are carried forward to the next financial year.

Unrestricted Funds are those that have not had a restriction placed on them by the donor and are available to spend on any activities that further the objectives of the charity.

Fixed asset Funds represent the tangible assets of Restless Development.

33

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Designated Funds are set aside at the discretion of the Trustees. They currently comprise: £46,000.

j) Individual fixed assets costing £300 or more are capitalised at cost. Tangible assets are depreciated on a straight line basis over their estimated useful lives using the following rates:

Asset category Depreciation rate	Asset category Depreciation rate
IT assets 33%
Office furniture 20%
Vehicles 20%
Used vehicles	50%

k) Restless Development is a registered charity and therefore is not liable to corporation tax in accordance with charity law.

l) Critical accounting judgements

In preparing financial statements, management may have to make judgements, estimates and assumptions that affect the application of the charities accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. It is the opinion of the Trustees that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities in the next financial year.

2. DONATIONS

	2024	2024	2024	2023
	UK	OVERSEAS	TOTAL	TOTAL
	£000's	£000's	£000's	£000's
Grants	1,550	4,770	6,320	6,538
Donations	1,736	-	1,736	1,356
	-------------	-------------	-------------	-------------
	3,286	4,770	8,056	7,894
	=======	=======	=======	=======

34

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. DONATIONS (CONTINUED)

	2023	2023	2023
	UK	OVERSEAS	TOTAL
	£000's	£000's	£000's
Grants	1,077	5,461	6,538
Donations	1,356	-	1,356
	-------------	-------------	-------------
	2,433	5,461	7,894
	=======	=======	=======
3. ANALYSIS OF TOTAL EXPENDITURE
	2024	**2024 **
	Direct	Support	2024
	costs	costs
			Total
	£000’s	£000’s	£000’s
Volunteers’ costs and other expenses	2,022	-	2,022
Grants made to consortium partners	502	-	502
Overseas & Programme staff costs	2,868	-	2,868
Pod Staff Costs	-	797	797
Support costs – Finance, HR, IT	-	410	410
Statutory audit	-	33	33
Internal and grant audit costs	-	7	7
Trustee indemnity insurance	-	1	1
Fundraising	-	1,090	1,090
	-------------	-------------	-------------
	5,392	2,338	7,730
	=======	=======	=======

35

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

3. ANALYSIS OF TOTAL EXPENDITURE (continued)	**2023 **	**2023 **	3 2023	3 2023
	Direct	Support	Total
	Costs	costs
	£000’s	£000’s	£000’s
Volunteers’ costs and other expenses	2,466	-	2,466
Grants made to consortium partners	642	-	642
Overseas & Programme staff costs	3,227	-	3,227
Head office staff costs	-	771	771
Support costs – Finance, HR, IT	-	321	321
Statutory audit	-	29		29
Internal and grant audit costs	-	11		11
Trustee indemnity insurance	-	1		1
Fundraising	-	759	759
	-------------	-----------	------------
	6,335	1,892	8,227
=======		======	=======
4. ANALYSIS OF FUNDRAISING EXPENDITURE	2024	2023
	£000’s	£000’s
Event costs	770	460
Communications and Marketing costs	22	15
Staff Costs	249	284
Other Costs	49	-
	-------------	-------------
	1,090	759
	=======	=======
5. NET INCOME FOR THE YEAR	2024 £000’s	2023 £000’s
This is stated after charging:
Auditors remuneration (including VAT):	28		24
Statutory Audit	5		5
Grant Audit
Depreciation	112	114
Foreign exchange losses/(gains)	231	249
Operating lease charge for the year	161	151

36

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

6. STAFF COSTS

	2024	2023
	£000’s	£000’s
Wages and salaries	2,838	3,066
Social security costs	227	277
Pension Costs	158	189
Redundancy costs	-	5
	-------------	-------------
	3,223	3,537
	=======	=======

The average number of employees in the year was:

	Volunteer-led	Fundraising	Governance	2024 Total	2023 Total
	activity	No.	No.	No.	No.
	No.
UK	5	8	4	17	17
Overseas	121	13	54	188	203
	-------------	-------------	-------------	-------------	-------------
	126	20	58	205	220
	=======	=======	=======	=======	=======

Under the Global Salary Scale the total amount of salary and other benefits paid to its twenty five Key Management Personnel for their services to the charity was £1,180,439. (2022/23:twenty five personnel, £1,168,992).

		2024	2023
£60,000 - £69,999	£60,000 - £69,999	3	1
£70,000 - £79,999	£70,000 - £79,999	2	1
£80,000 - £89,999	£80,000 - £89,999	1	2
		-----------	-----------
		6	4
		=======	=======

Note that the basis of calculation includes the individual’s gross pay and benefits. The Trustees received no remuneration or reimbursed expenses in either this year or the previous year.

No redundancy payments were made in the year (2022/23: £5k 2 individuals). The charity operates a defined contribution workplace pension scheme in the UK. Pension contributions are charged to the Statement of Financial Activities as they are incurred. The charity has no obligations other than the contributions payable in the year.

37

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. TANGIBLE FIXED ASSETS

7. TANGIBLE FIXED ASSETS
	Office Furniture	IT Assets	Motor Vehicles	Total
Cost	£000’s	£000’s	£000’s	£000’s
At 1 October 2023	93	442	510	1,045
Additions	23	19	35	77
Revaluations & foreign exchange	(10)	(50)	(73)	(133)
Disposals	-	(19)	–	(19)
	----------------	-----------------	-----------------	---------------
At 30 September 2024	106	392	472	970
	----------------	-----------------	-----------------	----------------
Depreciation
At 1 October 2023	(82)	(369)	(358)	(809)
Charge for the period	(6)	(40)	(66)	(112)
Revaluations & foreign exchange	5	43	50	98
Disposals	-	18	-	18
	----------------	-----------------	-----------------	---------------
At 30 September 2024	(83)	(348)	(374)	(805)
	----------------	-----------------	-----------------	----------------
Net Book Value
At 30 September 2023	11	73	152	236
	========	========	========	========
At 30 September 2024	23	44	98	165
	========	========	========	========

8. CAPITAL COMMITMENTS

There are nil (2023: nil) capital commitments as at 30 September 2024

38

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

9. DEBTORS	2024	2023
Trade debtors	126	163
Accrued Income	401	538
Prepayments	46	48
	-----------	-----------
	573	749
	=======	=======
10. CREDITORS: amounts falling due within one
year	2024	2023
Trade creditors	320	371
Accrued Expenses	61	65
Deferred Income	85	-
Other taxation and social security	41	91
CBIL loan	-	40
	-----------	-----------
	507	567
	=======	=======

39

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024
11. CREDITORS: amounts falling due in greater	2024	2023
than 1 year
CBIL loan	-	107
		-----------
	-----------
	-	107
	=======	=======
Loans	2023	2023
Less than one year	-	40
1-2 years	-	40
2-5 years	-	67
	-----------	-----------
	-	147
	=======	=======

The Covid Business Interruption Loan was repaid in full in 2024.

12. OPERATING LEASES

Total commitments under operating leases are:

		Office	2024	2023
	Property	Equipment	Total	Total
	£000's	£000's	£000's	£000's
Within one year	-	-	-	6
	------------	------------	------------	------------
	-	-	-	6
	=======	=======	=======	=======

40

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

13. RESTRICTED FUNDS

	Balance 1	Income	Expenditure	Balance 30
	October 2023	2023/24	2023/24	September
	£000s	£000s	£000s	2024
				£000s
Aga Khan Foundation	-	140	(74)	66
Akamai Foundation	1	-	(1)	-
CIPE	-	28	(28)	-
Dasra	6	-	(6)	-
DSTI	-	45	(45)	-
EdelGive Foundation	7	19	(26)	-
FCDO	-	303	(303)	-
Ford Foundation	24	59	(80)	3
Foundation Botnar	-	110	(110)	-
FSDZ	-	60	(60)	-
Garden Trust	18	-	(18)	-
Girl Effect	-	13	(13)	-
GIZ Zambia	10	60	(70)	-
Global Affairs Canada	23	599	(556)	66
Global Fund for Children	144	413	(224)	333
(Co-op Foundation)
Habitat for Humanity Tanzania	7	-	(7)	-
Howard Delafield International	13	6	(13)	6
(HDI)
Hivos	-	1,128	(821)	307
Jersey Overseas Aid (JOA)	125	344	(457)	12
Jhpiego	33	114	(91)	56
Kindernothilfe	14	49	(49)	14
Malala Fund	6	56	(32)	30
Marie Stopes International	23	49	(60)	12
MERCURY	-	38	(23)	15
MTv Staying Alive Foundation	-	50	(33)	17
NOREC- Norwegian Agency For	3	-	-	3
Exchange Cooperation
Plan Zambia	8	33	(35)	6
Save the Children Zambia	17	4	(21)	-
SIDA SWEDEN	-	257	(245)	12
Stichting Benevolentia	44	14	(55)	3
Swiss contract	2	100	(102)	-
Tackle Africa	17	-	(11)	6
The Alliance to End Hunger	-	40	(38)	2
The European Commission	-	541	(258)	283
The L’Oréal Fund for Women	23	3	(26)	-
The Patter Family Foundation/The	4	-	(4)	-
Hunger Project
Tides Foundation	-	57	(24)	33
UNAIDS	1	-	(1)	-
UNESCO	-	56	(47)	9
UNFPA	116	102	(173)	45
UNICEF	117	184	(288)	13
United Nations Population Fund	123	378	(429)	72

41

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

University of Cambridge	-	70	(62)	8
University of Warwick	102	5	(92)	15
USAID	-	173	(155)	18
Wellcome Trust	-	130	(130)	-
WHO	-	72	(63)	9
Others	304	61	(311)	54
	------------	------------	------------	------------
	1,335	5,963	(5,770)	1,528
	=======	=======	=======	=======

42

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Name of Fund	Description of Fund ~~a~~
Aga Khan Foundation	Funding for Covid-19 response programme in Tanzania.
Akamai Foundation	An education and livelihoods programme focussing on STEM for
	older adolescent girls in India
CIPE	Supported in conducting five Entrepreneurship Exchange series to
	foster collaboration and knowledge sharing between young
	entrepreneurs and private sector members. The series focuses on
	exploring barriers to youth entrepreneurship, creating solutions, and
	fostering a thriving youth civil society of entrepreneurs.
DSTI	Supported the delivery of the e-Upshift programme in Sierra Leone to
	facilitate learners to uptake the E-upshift curriculum.
EdelGive Foundation	An organisational strengthening grant as part of the GROW
	(Grassroots, Resilience, Ownership and Wellness) Fund. It is a first-
	of-its-kind initiative aimed at building the capabilities, resilience and
	future readiness of grassroots organisations, in turn facilitating their
	efforts to effect change at the grassroots.
Foreign	Every Adolescent Girl Empowered and Resilient - Leave No Girl
Commonwealth and	Behind, a social accountability programme in Sierra Leone focusing
Development Office	on gender and education.
(FCDO) (British
Government)
Ford Foundation	Funding for the Kajana Wajbika project in Tanzania to place young
	people at the centre of development and government processes and
	the Africa Youth Partnership grant across Tanzania, Zambia and
	Sierra Leone.
Foundation Botnar	Funding for the State of Youth Civil Society report and the Youth
	Power Summit in New York.
FSDZ	Funding education and livelihoods programme in Zambia
Garden Trust	Core funding to support youth leadership projects in Zimbabwe.
Girl Effect	Funding the Technology Enabled Girls Ambassadors (TEGA)
	programme in the regions of Bihar, Maharashtra and Rajasthan in
	India.
GIZ	A voice and democracy programme in Zambia focusing on
	community engagement.
Global Affairs Canada	SHE SOARS (Sexual and reproductive Health & Economic
	empowerment Supporting Out of school Adolescent girls’ Rights and
	Skills) across Uganda, Zambia and Kenya.
Global Fund for	The Young Game Changers Fund, funding young activists,
Children (Co-op	campaigners, disrupters, co-operators, and social entrepreneurs to
Foundation)	lead youth-led social action across the UK

43

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Habitat For Humanity	Programme improving living and learning environment through	Programme improving living and learning environment through
(Tanzania)	WASH and livelihoods support, land and property rights advocacy
	and climate change impact mitigation in Tanzania
Howard Delafield	A Game of Choice, Not Chance, funding an education and	A Game of Choice, Not Chance, funding an education and
International LLP	livelihoods programme in India.
Hivos	Funding to support SRHR programmes in Zambia, and the global
	WeLead programme focussed on SRHR and intersectionality. Hivos
	are also the consortia lead on the Bill and Melinda Gates Foundation
	– Walking the Talk programme in the UK focused on Feminist
	Foreign Policy.
Jersey Overseas Aid	Funding to reduce financial exclusion and foster income generation
	activities amongst women in informal settlements in Freetown,
	Sierra Leone and young women’s financial inclusion and
	empowerment in Zambia.
Jhpiego	Youth Learning Lab focused on family planning and reproductive
	health in India.
Kindernothilfe	PAHAL – the initiative, a Voice and Democracy programme in India
Malala Fund	Funding for a girls education initiative in India.
Marie Stopes	Funding for improving access to SRHR services in Zambia
International
Mercury Phoenix Trust	Funding our Girls Leadership Programme in Ruvuma, Tanzania which
	promotes HIV prevention.
MTV	Supported the MTV Nishedh programme in India to engage young
	people and social media influencers to disseminate correct	people and social media influencers to disseminate correct
	information about sexual and reproductive health and rights
Plan Zambia	Funding Adolescent Teens in Zambia.
Save the Children	Children’s Future Project in Zambia
Zambia
SIDA Sweden	Funds programmatic activity in SRHR work in Zambia.
Stitching Benevolentia	Voice and Democracy learning grant focusing on Youth CSO
	strengthening, advocacy and leadership and youth-led research.
Swiss Contact	Funding an employment skills enhancement project in Tanzania
Tackle Africa	Programme activity focusing on girls education in Zambia.
The Alliance to End	Supported a 4 month campaign in Uganda and Tanzania to create
Hunger	awareness around the food and hunger crisis ahead of COP28.

44

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The European	Supports 2 programmes, AU-EU Youth Voices Lab (also known as
Commission	Power of the Collective), operational in Uganda, Tanzania, Sierra
	Leone, Zimbabwe and Zambia to create a more youth responsive
	and inclusive society; and AU-EU Youth Action Lab, operational in
	Uganda focussing on supporting young people and youth
	organisations to advocate for their priorities at different levels.
The L’Oréal Fund for	Funding an education and livelihoods programme in India – My
Women	Education, my right.
The Patter Family	Funding to provide meaningful youth engagement training to project
Foundation/The	partners in Zambia.
Hunger Project
The Tides Foundation	Funding for a photography competition for young photographers to
	submit photo essays on their experience of violence.
UNESCO	Funding to train and support teachers to deliver curriculum on
	Comprehensive Sexuality Education (CSE) in Zambia.
UNFPA	Funds a number of our programmes in Sierra Leone and Tanzania.
UNICEF	Has funded a number of our sexual and reproductive health
	programmes in India, Nepal, Tanzania, Sierra Leone, Zambia and
	Zimbabwe.
United Nations	Funding to advance access to SRHR information and services
Population Fund	reduced vulnerability to HIV/ AIDS and gender based violence in
	Tanzania.
University of	Youth-led research on understanding barriers to sustainable and
Cambridge	green employment opportunities in Uganda and Zimbabwe.
University of Warwick	Funding from the Botnar Foundation, via the University of Warwick:
	The future of human rights in the digital age: Research, education
	and global advocacy.
USAID	Funding for the Citizen Engagement for Accountability Action in
	Zimbabwe.
Wellcome Trust	Funding focussed on youth-led research on climate change and
	health and positive masculinities in Zimbabwe.
WHO	Funding convening youth mobilisers around Ending Violence against
	Children, culminating in attending the first ever ministerial
	conference on this subject.

45

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

14. PRIOR YEAR RESTRICTED FUNDS

46

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

15. ANALYSIS OF FUNDS	Restricted Reserves	Unrestricted Reserves	2024	2023
	£000’s	£000’s	£000’s	£000’s
Tangible fixed assets	116	49	165	236
Current assets	1,412	1,109	2,521	2,522
Current liabilities	-	(507)	(507)	(567)
Long term liabilities	-	-	-	(107)
	------------	---------------	------------	-----------
	1,528	651	2,179	2,084
	========	=========	======	======
ANALYSIS OF FUNDS PRIOR YEAR		Restricted Reserves	Unrestricted Reserves	2023 Total
		£000’s	£000’s	£000’s
Tangible fixed assets		162	74	236
Current assets		1,173	1,349	2,522
Current liabilities		-	(567)	(567)
Long term liabilities		-	(107)	(107)
		------------	---------------	------------
		1,335	749	2,084
		========	=========	======

16. RELATED PARTY TRANSACTIONS

During the year, Restless Development worked closely with an affiliate organisation, Restless Development USA. Whilst there is no common direct or indirect control, at 30 September 2024, Restless Development USA owed Restless Development £6,613 (2023: £4,531 owed to Restless Development). This comprised £38,443 of income allocations, £39,970 of expenditure, which mostly related to expenditure incurred in by Restless Development USA inc in support of the Youth Power Summit. The Co-Chief Executive of Restless Development also served as a member of the board of Restless Development USA during the financial year to September 2024.

17. POST BALANCE SHEET EVENTS

On the 27th of January 2025 6 programmes across Nepal, Uganda, Tanzania, India and Zimbabwe and 1 Global Programme received cease work orders from USAID or USAID implementing partners as a result of the US president's executive order to suspend USAID work. This was then realised as termination of grant contracts in March 2025. This has resulted in £600k of lost, contracted income in the financial year 2024/25. Restless Development has responded by sharing this information with Trustees, performing updated reforecast exercises and cost mitigation strategies, as well as reaching out to partners and donors in appeal for support. The updated reforecasts without this income form the basis of the going concern review.

47

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

18. OVERSEAS ORGANISATIONS

In order to operate in some countries, Restless Development is required to register as an NGO in local regions. These organisations are treated as branches of Restless Development and their accounts are included within the accounts of Restless Development. A list of all overseas organisations controlled by Restless Development is as follows:

Organisation name	Country of Registration	Income 2024 £000's	Expenditure 2024 £000's	2024 Surplus/ (deficit) 2024 £000's	Net Assets £000's
Restless Development (Nepal)	Nepal	101	(100)	1	-
Restless Development Tanzania	Tanzania	958	(952)	6	37
Restless Development Uganda	Uganda	625	(606)	19	18
Restless Development Sierra Leone Restless Development SPW India Project Trust	Sierra Leone India	960 227	(703) (332)	257 (105)	111 228
Restless Development Zambia	Zambia	1,040	(1,022)	19	145
Restless Development Zimbabwe	Zimbabwe	618	(638)	(20)	27
		-----------	-------------	-------------	-------------
		4,529	(4,353)	176	566
		======	=======	=======	=======
OVERSEAS ORGANISATIONS - PRIOR
YEAR COMPARATIVES
Organisation name	Country of Registration	Income 2023 £000's	Expenditure 2023 £000's	2023 Surplus/ (deficit) 2023 £000's	Net Assets £000's
Restless Development (Nepal)	Nepal	130	(130)	-	-
Restless Development Tanzania	Tanzania	1,268	(1,268)	-	37
Restless Development Uganda	Uganda	517	(517)	-	3
Restless Development Sierra Leone	Sierra Leone	1,209	(1,242)	(33)	(131)
Restless Development SPW India Project Trust	India	542	(504)	38	316
Restless Development Zambia	Zambia	1,512	(1,495)	17	134
Restless Development Zimbabwe	Zimbabwe	460	(449)	11	(8)
		-----------	-------------	-------------	-------------
		5,638	(5,605)	33	351
		======	=======	=======	=======

48

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

19. COMPARATIVE CONSOLIDATED STATEMENT FOR FINANCIAL ACTIVITIES 2023

	Unrestricted	Restricted	2023
	funds	funds	Total
	£000's	£000's	£000's
INCOME FROM:
Grants and Donations
Grants income	325	6,213	6,538
Unrestricted fundraising	1,356	-	1,356
	------------------	------------------	------------------
Total income	1,681	6,213	7,894
	------------------	------------------	------------------
EXPENDITURE ON:
Raising funds	(759)	-	(759)
Charitable activities	(997)	(6,471)	(7,468)
	------------------	------------------	------------------
Total expenditure	(1,756)	(6,471)	(8,227)
	------------------	------------------	------------------
Net income/(expenditure)	(75)	(258)	(333)
Foreign exchange gains/(losses)	(5)	(244)	(249)
	------------------	------------------	------------------
Net movement in funds	(80)	(502)	(582)
	------------------	------------------	------------------
Reconciliation of funds
	------------------	------------------	------------------
Total funds brought	829	1,837	2,666
forward
	------------------	------------------	------------------
Total funds carried forward	749	1,335	2,084
	==========	==========	==========

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ADMINISTRATION AND REFERENCE DETAILS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

TRUSTEES

Jenny Wilson, Chair Tom Allen Nicola Dean Paul Wafer (resigned 5 February 2025) Amisa Rashid (resigned 5[th] May 2025) Lucinda Moore Diwakar Uprety (resigned 5[th] May 2025) Oyindamola Johnson (resigned 24 July 2024) Edleen John Isabella Mosselmans Eshban Kwesiga Winnie Achieng (appointed 5 February 2025) Francesca Bowen Pooja Singh Justin Derbyshire Mafipe Chunga Deputy Chair

BUSINESS COMMITTEE

Lucinda Moore - stepped down as Chair Nov 2024 Justin Derbyshire (Chair from Nov 2024)

CO - CEOS Alex Kent and Kate Muhwezi GLOBAL LEADERSHIP GROUP: CO-FINANCE DIRECTORS Genevieve Seddon, Sunil Mahawar (India) BUSINESS DIRECTOR Al Farrington - left January 2025 STRATEGY DIRECTOR Natalie Agboeze POWER SHIFTING DIRECTOR Yande Kalengo (Zambia) - left January 2025 REGIONAL DIRECTORS Nalini Paul (India and Nepal), Candie Cassabalian (Rwanda) REPRESENTATIVE HUB DIRECTORS Naval Gupta (India), Lesley Garura (Sierra Leone), Linus Katonto (Tanzania), Gabriel Iguma (Uganda), Chanda Chisenga (Zambia) and Farai Muronzi (Zimbabwe) HEAD OF PEOPLE Charity Bafuna OTHER MEMBERS Caleb Masasu (Zambia)left March 2025, Nikita Khanna (India)

REGISTERED ADDRESS

New Wing (T132) Somerset House Strand London

BANKERS AUDITOR

Barclays Bank Plc Buzzacott Audit LLP 1 Churchill Place 130 Wood St London E14 5HP London EC2V 6DL

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