LINCS 2 NEPAL Charity Number: 1130609 Finan¢l•l Aceounts for the vear ended 31" December 2025 Saul Fairholm Limited Chartered Ac¢ountants 12 Tentercroft Street Lincoln LN5 7DB
LINCS 2 IYEPAL Financial ALLounts for the vear ended 31, Deceinber 2025 CON Charity Imfomjaiion Rcpori of thc Trust¢cs Ind¢p¢nd¢nt Examincr's Report Trading Profil and Loss Account 10. BalanLe Sh¢cl 11-13. Notes to th¢ Finan¢ial AcLOUnts
LINCS 2 NEPAL Financial Aeeounts tor the aren ed 31" December 2025 CHARITY INFORMATION PROPRIKTOR: The CoTnmittee ADDRESS: 6 Dorrigan Clos¢ Lincoln LNI IAT ACCOUNTAF4TS: Saul Fairholm Limited Chartered Accountantq 12 TcnterLroft Street Lincoln LN5 7DB CHARITY REGISTIL4TION NUIVIBER: 1130609
LINCS 2 NEPAL ort of the Trustees for the ear ended 31" December 2025 The Trusl¢es present their annual Icport for the year ended 31 DeLembei' 2025. REFERENCE AND ADMINISTRATIVE DETAILS Name: Lincs 2 Ncpal Charity Number: 1130609 Charity's operating address: 6 Dorrigan Close Lincoln LNI IAT Trustees: The TrusteKs of the Charity during iht year and al th¢ year end w¢re:_ Stuart Martin Wallac¢ (Chairl Traccy Lorraine Goddard (Secretary) -4lldr¢w William Marr {Treasurer) Stcvcll PiilLhard Kayleigh Bianca Fishcr Katy-Jane Stark Giles Anthony Naylor (appointed 2 September 2025) GOVERN NCE Lincs2Ncpal ib an unincorporatcd cl)arity govcmed in gi¢ordan¢¢ with ils Constiiution which was adopted in July 2009. The Charity is managed by the Truslc¢s, supportcd by a committec of metnbers and a part-time General Manager. OBJECTIVES AND A VITIES Lincs2Ncpal is dedicdted to improving thc education, Iicalth and u7cncral devclopmcnt of fatnilics in the poorer communitics of Nepal. W¢ aim to: provide assistance and opportunity. through education, to oppressed. marginalised and disadvantaged lower caste communities in Ncpal. in particulai ehildrcn,, further the provision of healthcare and social rights for those to whom such opportunities have prcviously been denied duc to povcrty, family circumstances or oppression. and creatc a safer environment for children and to provide support and encouragement to help improve their liiiing and social condition%, io help them realise their potential s individuals. We believe that cducation is the kcy to hLlping communitics to makc sust&inabl¢, long-tcrni changc and so thi6 is the principal focus of our projects. The Trustees confirn] tliey have complied with their duty to have due regard to the Charity CotllTlli¥5ion's public benefit guidan¢¢ during 2025, as demonstrated by the review of activities in the following sections.
LINCS 2 F4EPAL Re ort of the Trustees for the ear ended 31" Deeember 2025 ACHIEVE.MENTS AND PERFORMANCE Our core projects Jeevan Jyoti School and the 40 Friends Childrcn's Home - will always be our prioritie.£, but when needs demand and resources perniit, we will always respond appropriately. Thc Charity'.£ principal activities during 2025 are outlined below. followLd by the Trustees, Financial Review of the year. Jeevan Jvoti School Lincs2Nepal pays for scholarships, which allow lower easte children to attend Jeevan Jyoti School in Koh8lpur and reeeive a quality education that would not otherwi%e bc available to them. Each child has a sponsor. whosc rcgular donations fund thc child's education, incliiding their unifonn, 5hocs, backpack, school dinners and other essentia15. Our scholarship children are ¢du¢ated alongside children froin fee-paying Iiighcr ca%tc familics, which ib btill rare in Nepal. By December 2025. thcre were 533 childi'en on Lin¢s2N£pal s¢liolarsliips. The slhool has expanded rdpidly since it opened in 2014 and iiow has morc than 2,700 pupils. 2025 was the first year that the school had the equivalent of both lower and upper sixth fomis, with some of our original s¢holarship children from 2014 now in the upper sixth. De.¢10pC1its during 2025 included.. acquiringi soinc iiiore land, adjacent to the school, to furthcr develop 118 qportl facililics. constructing a roof over the football-pitch-siz¢ spa¢e bctwcen thc threc teaching blocks, to ¢reate a covered area with enough tables and chairs to allow all the students to have their school lunches in two sittings; provision of an impressive gtage for performing arts.. and m¢¢ting th¢ new school nursc, whose post we fund, and topping up the medical .qupplics she We visitcd th¢ s¢hool in March and November 2025 and are satisfi¢d that it ¢ontiDues to go from strength to strength and that our scholarship children are thriving. 40 Friends Ckntldren's Home Linc%2Nep<il bLLainc thc 8olc fundcr of tlic (tlicn) Huinanttarian Concern Ccntcr (HCC) Children % Home in Kathmandu, with effect from April 2022. To fund the Home's running costs and improve ils very basic facilities, w¢ gought to ideniify forty "friends" businesse.q, familieg and individua15 who would cummil lo make monthly donations. As of D¢¢ember 2025, the 40 Friends Children's Home looks after twenty children and we expect to wclcomc fiv¢ morc girls early in 2026.
LINCS 2 NEPAL ort ot. the Trustees for the ear ended 31" December 2025 Wc try to cnsurc that th¢ rhildrcn can cnjoy a range ot tTeats and experien¢¢s, such as going io a climbing wall, eating out in restaurants and going to the cinema. In October, we gave each of the children 2 purse or wallet with the equivalent of £50 pounds in it and took them shopping for new clothcs. For the second year running, we took the children and staff lo Pokhara for a short break, but this timc they travelled by aeroplane from Kathmandu - the first lime that any of the ehildren had flown. Thev all enjoycd a wondcrful tcw days. Thlth incmorics n]ade which will lasi them a lifcÈitne. Our visits in March and November 2025 gave assurance that the Home conlinucs to provide a safe and loving environment for the 40 Friends "family" Adhyan Ii) last ycar's Annual Report, wc rccounlcd how onc of our scholarship children Adhyan - h8d bccn diagnosed with Icukacmia. Nepal's hospitals were unablc to give Adhyan th¢ n¢¢essary treattnent, so we had agreed to fund his medical care #t th¢ Indraprastha Cancer Society 8nd Research Centre in Delhi. In March 2025, Garry Goddard met Adhyan and his family in Kohalpur, at which point Adhyan seemed to have made a full recovery and was due to resume scliool the following month. However, al his next quarterly clicck-up. his clinicians dctcnnincd that tlic Icukaemia l)ad rctLirn¢d. l.incs2Nepal agreed to nd another five-month treatment programme for Adhyan, but sadly h¢ lost his fight with cancer in October. As always. the charity did what it could, but sadly could not achieve the oul¢ome we Th'antcd on this occaiion. Resi in peale, Adliyan. Social Experience Projects 111 202), wc again ll&eed to support students from Katlimaiidu Univer8ity School of Management. who undertak¢ Social Experience Projects as part of their second-year studi¢s. We becamc the principal sponsors for: Project Sadhbhav.. five students who aimed to improve conditions at a government s¢hool in Sindhupalchowk., and Project Nirhbar.. four sthdents, whose project was focus¢d on helping a children's home in Bhtktapur. We maintained online contact with tr*)th projccts during their work and met with both groups of 4tiidents in October, to review theii. achievements, including accompanying the Project Nirhbar team to thc Bliaktai)ur orphunage io see thin&s first-liand. Such projects cost us relatively little in sponsorship, but fa¢ililale the students who contribute their tim¢ and efforts as volunteers. We are keeping their impact under review, but it is likely that Lincs2Nepal will seek to be involvcd again in 2026.
I.INCS 2 NEPAL Re ort of th Trustees tor the ear ended 31" December 2025 Blbash Our School's Principal contaclcd u.8 in July 2025, to explain that the family of oiie of our young scholarsliip ¢hildr¢n, Bibash Tharu, was going throu1 a difticult period. Bidash's fathcr had bccn involved in all accident, as a result of which he was paralysed and bedridden. Consequently, neither he nor his wife could work and thc family W¢iS relyingy on handouts from our school or from neighbours. Surgery, which the family could not afford, offered the prospect of a signifi¢ant improvement and ouilook, so Lincs2Nepal paid for the operation and Bidash's father is now on the road io recovery. Wc a150 tound out that the family was living in the MainS of their clay hous¢, which had bccn heavily damaged during the monsoons. Lincs2Nepal had plans drawn up for a ontrbedroom house, whi¢h would be suitable for thi family, and work started in September. We met the family in October - it was a joy to see the father's r¢¢overy and lo hear what a difference the new house will make to their lives. Water supply Laklianwar is Line of the village8 that our 4eholarship children come from. The village's government school has about 400 pupils, bul we found ihat there wa5 a lack of hcalthy drinking watcr for them. Lincs2Nepal agrccd to fund a water supply to the school and, in late December 2025. received photographs ot thc LomplLtLd installation. Wc havc found tliat rcsult5 improvc dramatically whcn nutritional support or elean drinking water is made available. Small actions also ehange live5 We often find that a small outlay can achieve a disproportionate benefit and so Lincs2Nepai is alway8 happy to consider how we can maximi5e our impact, within scarce resources. Sm811 initiatives that th¢ Charity beLame awarc of and funded in 2025 included.. one of our child sponsors learned that her sponsored girl's father had been scalded at his workplace and was therefore unable to work. She very kindly offered to help coiwer his M'ages for a pcriod. so that hL could still feed his family. and we werc liappy to match her contribution. Pabi was 42 years old. H¢r husband died five years ago and she MTas scraping a living selling bottled water to passengers at th¢ local bus station, an hour's walk away. To nwke her life easier, Lincs2Nepal bought her a drink and snack eart. so that shc now has a more established bLiginess to providc for her family; Bikendra, who is partially paralysed. supports his family by selling bread in nearby villages, which he reaches by pedalline a bread-laden bicyclc with his good foot. His old cycle was almost beyond rcpair and litnited his caniiiig potential. We therefore paid for a customized bicycle, complete with big bread boxes and baskets, to replace the old one. and
LINCS 2 NEPAL Re ort of the Trustees for the ear ended 31 ' December 2025 ljahar, who is blind, had a small businc5s s¢llillg snacks out5idc th¢ gatC5 of his villagc school. which was hi5 lif¢lin¢. When his mother died, he lost his business, as h¢ ¢ould not afford to re- siock. Lincb2N¥pdl purchased a mai. a sti>ol and sufyicient stock to help restore hi indcpcrLdeTLCe. FINANCIAL REVIEW The majority of the Linc52Ncpal's incom¢ comes from our child sponsors and from the businesseg, familics and individuals who are helping the c.harity fund the 40 Friends Children's Home. That core incoine iq.%upplementcd by fundraising cvents other donaiions. The Charity received total income of £145,679 during 2025 which was 8 3.60/0 decrease on £151.120 received in 2024. Thc Cli¢irity %pcnt £117,673 during Ihc y¢ar, wl)ich was 7.70/, less than the £127,479 cxp¢nd¢d in 2024. Expenditur¢ included-. £57,743 (49.10/0 of our total cxpcnditurc) iii r¢lation to th¢ scholarship prograTnmc at J¢cvan Jyoti School- £31,124126.4/0) spent on rllnning costs and continued refiwbishinenr of the 40 Friends Childrcn'5 Hom¢- £6,560 {5.60/o) to fund surg¢ry for th¢ father of one of our sponsored cbildren's family and to providc a new home for his family- £5,196 {4.4/0) to fund medical treatment Losts for one of our spvnsor¢d pupils who w diagnosed with Icuka¢mia during May 2024; £17,050114.50/.} on smallei charitable projects and indirect charitable expenses. In summary, in 2025 our income exceeded our c0515 by £28.006, ¢ompar¢d with i surplus of £23.641 in 2024. The Financial RcicrnAcs policy, eftablished by thc tru.%tccs. is that gcncral rcscnJc.s and thc 40 Fricnds Children's Home reserve should, together, not fall below three months, expenditur¢ (£30,500, based on tlic avcragc for 2024 and 2025) and %hould ideally be maintained at a leN'cl closer to onc yeiL r'q experditurc (Ll 22,00a1. This is to provide somc iesilienLe in the eveiit ()f Vdl'llltions in thL Vdlue ()r timin¥ of incom¢ and to allow for a managed transitior4 in thc cvent that th¢ Charity could no long¢r commit to fund ils main projects.As of 31 December 2025, the Charity held resee$ tolalling £147,195 which comprised.. £115,441 of general reserves.. £28,590 which is eartllarked for p(J4t-16 educalion for our sponsor¢d children (Notc 5 iefers}.' and £3,104 which is eannarked for the 40 Friends Children's Home (the excess of 40 Friends incoinc ovcr cu%ts Encurrcd sincL wc as.8umcd full re%pon%ibility in April 2022- No(c 6 refers). Coiiiparcd with thc Trustccs. rcscrvcs policy, the level of relcvant rc8crves actually varicd bctwccn a high of £122.000 in Augyust 2025 and a low of £88,000 in Janudry 2025.
LINCS 2 NEPAL ort of the Trustees for the ear ended 31" December 2025 In conclusion. 2025 was another positiv¢ year. We arc extrcincly grateful to cveryone who helped us aLhi¢ve this. not l¢ast our ¢hild sponsors and th¢ "40 Friends" We also want to pay tribute lo th¢ Principal and staff ()f Jecvan Jyoti School and to dic staff of thc 40 Fi'ilnds Childrcn'.% Home, without wl)oin w¢ could not aLlii¢ve wliat we do. Looking forward During 2026, we plan to use around £23,000 from reserves lo provide a swimming pool at JeeN'an Jyoti S¢hool, so that the pupils, including OLif scholhlp Lhildren, can learn to swim and acquire life- saving skills - drowning is a significant causc of child monality in Nepal, claiming hundreds of livcs annually. While total annual drowning deaths are estimated at approximately 1,500 to 1,600 acTOSS all igcs, childrcn rcprLsenl a disproportioiiaiely higih pcrccntagc ot thcsc victiFn,%. SIGNED ON BEHALF OF THE CHARITY'S TRUSTEES Stuart Wall&ce Chair and Trustce Andrew William Ma]T TrL<isur¢r and Tru£tLL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF L1Cs 2 NEPAL TRUST I report to the Trustees on my examination of the ac¢ounts of LirLCS 2 Nepal Trust (the Trust) for the year ended 31" Dcccmb¢r 2025 which are set out on pages 9 to 13. RESPOLNSIBILITIES AND BASIS OF RLPORT As the Charity Trustees of the Trust you are responsible for the preparation of th¢ accounls in accordanc¢ with the requirements of the Charities A¢t 2011 ('the Act,). I report in respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Act and in carrying out my ¢xamination I have followed all the applicable Directions given by the Charity CoLnini55ion under section 145{5)Ibl of thc 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have compl¢ted my examination. l confirm that no material matters have come to my attentiox in conncctiOT) With Ihe examinatioii giviT)&i m¢ Lau%L EO believe tl)al in any matei'ial respect.. accounting records wcre not kept in respect of the Trust as required by section 130 of the Act; or the accounls do not accord wtth thos¢ records- or the accounts do not coiiiply with the applicable requirements concerniiig th¢ form and coi)tent of account5 set out in the Charitics IAc¢ounii and Reports) Regnjlations 2008 other ihan any requirement ttlal the a¢counls give a 'true and fair Yicw. which is not a matter considered as part of an indcpcndcnt cxamination. I have no concerns and have comc across no other matters in connection with the examination to which attention should be drawn in this rcport in order to enable a proper understanding of the Lcounts to be reached. Roger White ACA Saul Fk)irholm Limited Chartcrcd Aicoiintants 12 Tentercroft Street Lincoln LN5 7DB
LINCS 2 NEPAL StAtement of Ffinaneial Actiiryties for the ear ended 31 ' December 2025 Notes Un-restricted Restricted Total Funds Total FuDds Funds Funds 2025 2024 IP*'COIVIE Shop and Event Sales IntLJ-e%t Fundraising Income General EiiierLiency Rclicf 721 1,583 721 1,583 225 390 143,375 143,375 145,505 5,000 TOTAL INCOME 145,679 145,679 151.120 DIRECT CHARI'fABLE EXPENIDTURE Opening Stock PurchasL.s and Evcnt Costs Nepal - Cost vf Pmjects 560 942 104,573 560 942 104.573 1,119 453 113,215 106,075 106,075 114.787 Closing Stock (1,102) (1,102) (560) 104,973 104,973 114,227 INDIRECT CHARITIABLE EXPENDITURE Staft-costs Insurance Telephone Poslagc. Siationery and Marketing Travclling IT Costs Bank Charges 9,961 550 614 349 9,961 550 614 34C) 88 312 8?6 9,912 515 542 765 79 710 729 312 826 TOTAL EXPENDITURE 117,673 117,673 127,479 NET INCOIIIEI(EXPENDITURE) 28,006 28,006 23,641 RECONCILIATIofi OF FUNDS Total Fun(ts Brought Forward 119,189 119,189 95,548 Total Funds Carry Fonvard 147,195 147,195 119,189
10. LINCS 2 TrIEPAL Balance Sheet as at 31" December 2025 Notes 2025 2024 CURRENT ASSETS Stock. Casli at Bank and in Hand 1.102 146,093 560 118,629 147.195 19,189 CREDITORS Amounts falling due within one year NET CURREIYT ASSETS 147,195 119,189 TOTAL h'ET ASSETS 147,195 119,189 FUNDS OF THE CHARITY tricted bunds General Eai'marked for furthcr Ivucatioiial cduccltioii Eannarked for 40 Friends childr¢n's home 115,441 28.590 85.598 2C),640 3,164 6,951 TOTAL CIL4RITY FUNDS 147,195 119,189 The financial siatements have bccn prepared in a¢cordancc with Accounting and Rcporting by Charitieq-. statcmcnt of Recommendcd Practice applicable to charities preparing their account8 in accordaii¢e Nvith the Financial Reporting Standard applicdble thc Unitcd Kingdoni and R¢public of Ireland (FRS 102) and the Charities Act 2011. Approved by the Board on and signed on lis behalf by: Stuart Wallacc Chdir and Trustee
I,INCS 2 NF.PAL Lyotes to the Accounts for the ear ended 31" December 2025 ACCOUINTif4G POLICIES Basis of preparation Tli¢ Iiniin¢ial btdteinents haye been pi'epared itt ac¢ordanc¢ with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitics preparing thcir accounts in accordance with the Financial Reporting Standdrd applicable in the UK dnd R¢public of Ireland IFRS 102) {effective l January 2019) - ICEwities SORP (FRS 102)), thc Financial Rcporting Stsnd2rd appli¢able in th¢ UIQ and R¢public of Ireland IFRS 102) and the Charities Act 2011. Lincs 2 Nepal Tneets the definition of a public benefit entity under FRS 102. Assets and liabilities arc illitially r¢¢ognised at histori¢al ¢ost or tr8nsaction value unless othenvise stated in IIIL rLlcvant accouiitiiig, policy Iiotcs. Preparation of the accounts on a going concern basis Thc accounts havc b¢¢ii prepared on a going concern bLsis. Stock Stock is valued at the lower of ¢ost 2nd net realisable value, after inaking due allowance for obsolcie and slow moi'ingT Item8. TOTAL INCOLVIE 2025 2024 Jc¢van Jyoti School l KindNess projects 40 Friends Children's home Shop and event sales Emergency relief Interest 116,038 27,337 721 116,531 28,974 225 5,000 390 1,583 145,679 151,120 NEPAL-COST OF PROJECTS 2025 2024 Jccvai) Jyoti School / KindNess projects 40 Fricnds Children's Homc Enicrgcncy rclicf 73,449 31,124 70,042 32.321 10.85? 104,573 113,215
12. LINCS 2 NEPAL otes to the Accounts for the ear end 31" December 2025 STOCK 2025 2024 Stocks 1,102 560 NRE TRICTED FUI4D Earmar for furtherlvocational education SOML Lliild qponwrs pay morc than tlic 4tandard Inoiitlily amouni and thcir donations are earmarked for specific Children's further education or vocational training after the Child leaves school. As at 31" Dcccmbcr 2025, £28.590 was earnwked for furth¢r cducation or vocational training. UNRESTRICTED FUNDS- EArmarked for the 40 Friends Cbildren's Home Atl January 2025 Ineornlng resourc¢s Re50urees expended Tr4Dsfers At.11 December Unrestrlcted Pund8 Desigiiated funds 6.951 27.337 131,1241 3,164 6.951 27,337 31.124 Atl January 2024 Incomlng Tesource5 Resources expended Trntlsfers At31 Deeember 2024 Unrestricted Funds Desigiiatcd funds 10,298 28,974 (32,321) 6,951 10.298 28.974 6,951
13. J.INCS 2 NEPAL Notes to the AceouDts for the ear ended 31" December 2025 ANALYSI OF NET ASSETS BETWEEN FUTr4DS restricted Restricted Funds at 31" December 2025 Current A$sets Current Liabilities 147,195 Total Nct Abbeis 147,195 Un- restricted Funds Re5trieted Funds -45 at 31" December 2024 Current Assets Cllrrent Liabilittes 119,189 Total Nct Asseis l19,189 PA YMENI TS TO TRUSTEES No paynients w¢rc IDade to any of the Charity's trustees, other than to rciinbur5C OUt-or- pocket exp¢n$es personally incurred on Charily business.