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← Camara Education UK Ltd

2023-12-31-accounts

DocuSign Envelope ID: CBEAF30F-EDAE-4722-82FD-F1DB36037E2B

Company registration number: 06985729 Charity registration number: 1135540

Camara Education UK Ltd

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 December 2023

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Contents

Reference and Administrative Details .............................................................................................. 1 Trustees’ Report ................................................................................................................................ 2-7 Independent Examiner's Report ..................................................................................................... 8-9 Statement of Financial Activities ..................................................................................................... 10 Balance Sheet ...................................................................................................................................... 11 Statement of Cash Flows ................................................................................................................... 12 Notes to the Financial Statements ............................................................................................... 13-23

DocuSign Envelope ID: CBEAF30F-EDAE-4722-82FD-F1DB36037E2B

Camara Education UK Ltd Reference and Administrative Details

Director and Trustees

The directors of Camara Education UK Ltd, who are its trustees for the purpose of charity law, present the annual report of the charitable company for the year ended 31 December 2023.

The trustees and officers serving during the year and subsequent to year end were as follows:

Cormac Lynch (Chairman) John D W Brown Andrew Jarvis Charles H M Ellingham Andrew P Singer Olivia Lichtenstein Richard Basham Rory Wardroper Frank Lehmann Jessica E Wren Rushi Millns

Principal Office 241a Portobello Road London W11 1LT

Registered Office: 114 St Martins Lane London WC2N 4BE

Company Registration Number: 06985729

Charity Registration Number: 1135540

Independent Examiner: Russell Joseph ACA Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE

Website : www.camara.org

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Camara Education UK Ltd

Trustees’ Report

The trustees are pleased to present their annual trustees’ report together with the charity’s financial statements for the year ending 31 December 2023, which are also prepared to meet the requirements for a trustees’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (2nd Edition, effective January 2019) (“Charities SORP”)).

Appointment and Removal of Trustees

The power to and responsibility for the appointment and removal of Trustees from the Board rests with the Trustees collectively.

Objectives and activities

Camara Education UK Ltd is part of a wider group of related entities that carry out similar work in Ireland (Camara Education CLG) and the USA (Camara Education Inc). These entities support a network of education hubs in Ethiopia, Kenya, Tanzania and Zambia. Together we refer to these entities as the Camara Network.

Camara is an international charity whose mission is to use technology to improve education and digital literacy skills for disadvantaged children in the 4 African countries which we operate in. We do this by providing sustainable IT equipment, teacher training and supporting software. Our vision is a world class technology-enabled educational system accessible to all. We are dedicated to delivering real impact by inspiring and empowering a young generation to improve their own life opportunities.

We believe better education means better life opportunities for children. Camara operates as a social enterprise and works with educational institutions to support them with technology and training to build digital skills thereby enabling students to pursue educational attainment particularly in STEM subjects.

To achieve real impact in maximising educational opportunities Camara focuses on 6 key goals:

The Camara African network consists of locally staffed education hubs in Ethiopia, Kenya, Tanzania and Zambia.

Each hub is responsible for the front-line delivery of the Camara Education model to educational institutions within their respective countries and is constituted as a social enterprise which applies commercial strategies to maximise its ability to meet its social objective of transforming education in its home country.

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Camara Education UK Ltd

Trustees’ Report

In addition, there are three resource centres, one in each of Ireland, the UK and the U.S. which are responsible for securing funds through their commercial activities and providing management expertise to support our work in Africa.

Camara Education sources used computers from organisations internationally who donate their end of use computer equipment to us to support our work. Equipment not meeting the technical specification required for our programmes in Africa is resold to generate unrestricted funds, which allows us to source suitable equipment in the most cost-effective manner possible. Any equipment that requires recycling is processed according to the EU WEEE Directive.

Since 2005 Camara has sourced over 265,000 computers within its network. Computers are shipped in bulk to our African hubs where country specific software is loaded onto each computer prior to placement in computer labs in the respective schools.

Achievements and Performance

Main Achievements

Our key measure of performance for the year resulted in the group:

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Camara Education UK Ltd Trustees’ Report

Financial Review

The year’s financial results are outlined in the Statement of Financial Activities and Balance Sheet and further explained in the notes to the accounts.

Income

The company’s total income in 2023 amounted to £411,093, a decrease of £90,150 (-18%) on 2022 when income growth was 243%. Donations and grants increased by 80% compared to 2022 though the value at £60,521 remains modest.

We again participated in The Big Give 2023 fundraising initiative, receiving £30,534 in the year under review.

The decline of income from charitable activities is due to being unable to sustain the significantly higher Remarketing revenue from sales of donated computer equipment generated in 2022.

Expenditure

Expenditure levels increased slightly in 2023 primarily due to acquiring IT equipment for shipment to Africa and increased project expenses. Expenditure of £556,473 was £38,592 higher than 2022 (+7%).

Reserves

The charity’s available reserves at the year-end are shown in note 12 of the financial statements and have been split between restricted and unrestricted as appropriate. The deficit of income over expenditure increased from £16,638 in 2022 to £145,380 for 2023. It is the policy of Camara Education to maintain an adequate level of reserves to fund working capital and unexpected events and to accumulate resources against unexpected changes in the funding environment so that our project work and the users of our services are not adversely affected.

It is the Trustees’ intention to increase its level of reserves to the equivalent value of six months operating costs to ensure that the charity can continue to meet its obligations and safeguard its activities.

Camara Education UK Ltd. and its sister organisation, Camara Education CLG (registered in Ireland), have common oversight of each company due to the similar nature of the operations of both companies. This facilitates flexibility and quicker decision making whilst also facilitating common corporate governance and financial support across both companies if needed.

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Camara Education UK Ltd

Trustees’ Report

The balance sheet position as at 31st December 2023 is as follows:

Restricted reserves £Nil Unrestricted reserves deficit £141,150

Restricted reserves align with funds held for a particular purpose as stipulated by donors. The organisation has a system in place to manage these restrictions carefully and ensure that we are fully compliant with donor requirements as well as our own policies and procedures.

Unrestricted reserves funds are available for the general purpose of the charity. Camara Education plans to use these to underpin our work and ensure sustainability of the services we offer.

Going Concern

The above outlines the review of the financial performance of Camara Education for 2023. Based on the performance in 2024 to date, forecast cashflows and the sufficiency of unrestricted reserves, the Board believes that the charity has adequate resources for the foreseeable future.

Unrestricted reserves as at the year-end were in deficit however this was funded by a loan from Camara Ireland of £200,000. The sister charity has expressed its commitment to continue to support the UK charity in its operations for the foreseeable future.

The Board believes that there are no material uncertainties that call into doubt Camara Education’s ability to continue in operation. Therefore, the financial statements have been prepared on a going concern basis.

Risk Management

Camara Education has an internal risk control system in place. The Directors are aware of the controls and are committed to reviewing these on an ongoing basis, via the finance review subcommittee. There is a comprehensive finance manual in place and controls exist over funding, expenditure and general financial management. Management accounts, including cash and reserves position, are shared with the Board at every board meeting.

Camara Education identifies the key risks facing the organisation and records these in a risk register. The risk register is an active management tool that is reviewed on a monthly basis by the senior management team and presented to the Board of Trustees as part of its monthly management reporting pack. Each risk is rated and mitigating actions are assigned to ensure that there is minimal exposure to the risk. The risks are also reviewed to ensure that adequate mitigating actions are in place. The Board review the risk register on a quarterly basis.

Staff and Volunteers

Camara Education is operated through a network of committed staff and volunteers. Without their continuing drive and commitment Camara would not be the force it is. The directors reaffirm their commitment to an organisational culture that cares for our people and those we serve.

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Camara Education UK Ltd

Trustees’ Report

Future Plans

Camara will strive to continue to deliver our mission “to supply sustainable IT equipment, training and software to educate young people in Ethiopia, Kenya, Tanzania and Zambia”.

In line with that Camara will continue to:

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Camara Education UK Ltd

Independent Examiner's Report to the trustees of Camara Education UK Ltd

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Camara Education UK Ltd (‘the charitable company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

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

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Camara Education UK Ltd

Independent Examiner's Report to the trustees of Camara Education UK Ltd

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

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Russell Joseph ACA Bourner Bullock Chartered Accountants 114 St Martins Lane London WC2N 4BE

Date: ………………………. 23/05/2024

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Camara Education UK Ltd

Statement of Financial Activities for the Year Ended 31 December 2023

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note Unrestricted
funds
£
29,407
350,572
379,979
469,696
464,696
(7,835)
(97,552)
(43,598)
(141,150)		 Restricted
funds
£
31,114
-
31,114
86,777
91,777
7,835
(47,828)
47,828
-		 Total
2023
£
60,521
350,572
411,093
556,473
556,473
-
(145,380)
4,230
(141,150)
Total
2022
£
33,601
467,643
Income from:
Donations
3
Charitable activities
4
Total Income
Expenditure on:
Charitable activities
5
Total Expenditure
Transfers between funds
Net income/(expenditure) and
net movement in funds
Reconciliation of:
Total funds brought forward
Total funds carried forward
12
501,243
517,881
517,881
-
(16,638)
20,868
4,230

All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 12.

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23/05/2024

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Camara Education UK Ltd Statement of Cash Flows for the Year Ended 31 December 2023

Net loss for the year
Net cash flows from operating
activities
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/used in operating
activities
Increase / (decrease) in cash & cash
equivalents in the year
Cash & Cash equivalents at the beginning
of the year
Total cash & cash equivalents at the end
of the year		 2023
£
2022
£
(145,380)
(12,482)
48,152
(112,729)
128,917
156,006
177,069
43,277
31,689
30,795
85,740
54,945
117,429
85,740

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Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (2nd Edition, effective January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Camara Education UK Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Based on the performance in 2023 to date, forecast cashflows and the sufficiency of unrestricted reserves, the Board believes that the charity has adequate resources for the foreseeable future.

Unrestricted reserves as at the year-end were in deficit however this was funded by an additional loan from Camara Ireland of £113,018 during the year taking the total loan balance up to £200,000. The sister charity has expressed its commitment to continue to support the UK charity in its operations for the foreseeable future.

The Board believes that there are no material uncertainties that call into doubt Camara Education’s ability to continue in operation. Therefore, the financial statements have been prepared on a going concern basis.

Income

Donations

Voluntary income including donations, gifts and grants that provide core funding or are recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Income from charitable activities

Income is generated by sales of donated computer equipment, which is of a type or specification unsuitable for use in schools and by the sale of refurbished computer sets (PC and monitor or laptop) to Camara Education Hubs in Africa.

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Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the Charity:

Donated services and facilities

Where services or facilities are provided to the Charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at its fair value unless its fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. The restricted pension costs have been allocated accordingly on the basis of the restricted grants received.

Charitable activities

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustee’s meetings and reimbursed expenses.

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Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Foreign currency translation

Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net movements in funds.

Investments

Investments in subsidiaries are held at cost less any impairments.

Financial instruments

The Charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The charity does not have anything other than basic financial instruments.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Conduit funds

Funds received by the charity where there are instructions to make payment directly to another charitable organisation are treated as conduit funds on the basis that the charity is acting as agent and the Trustees do not have any discretion over the use to which the funds are put. Conduit funds are not recognised in the Statement of Financial Activities.

Fund accounting

Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the Charity.

Designated income funds are general funds which have been set aside at the trustee’s discretion for specific purposes. As at the year end, and in line with the previous year, the Charity does not have any designated funds.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

2 Judgements

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. The Trustees consider that there are no significant areas of judgements or estimates.

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Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

3 Income from donations

3 Income from donations
Unrestricted Restricted
funds
£
31,114
-
31,114
Restricted
funds
£
-
-
-
-		 Total Total
2022
£
30,891
2,710
funds
£
27,112
2,295		 2023
£
58,226
2,295
60,521
Grants and donations
Gift aid
29,407 33,601
4 Income from charitable activities Total
2022
£
95,269
315,035
57,338
Unrestricted Total
funds
£
49,008
301,564
-
350,572		 2023
£
49,008
301,564
-
350,572
ITAD Collection & Processing Fees
Remarketing
Fundraising income
467,642

Income from charitable activities arises from sales of refurbished computers which are provided for the beneficiaries of the charity.

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Camara Education UK Ltd Notes to the Financial Statements for the Year Ended 31 December 2023

5 Expenditure on charitable activities

Costs
2023
£
181,006
27,128
121,483
146
96,777
121,277
8,656
556,473
Costs
2022
£
172,949
-
129,392
364
93,845
115,882
5,449
517,881
ITAD collection & processing charges
Computer acquisition costs
Salary and related costs
Other expenses
Project expenses
Allocated support costs (see note 5.1)
Allocated governance costs (see note 5.1)
Total

5.1 Analysis of governance and support costs

2023 Support costs
£
95,843
3,998
1,735		 Governance costs
£
-
-
-		 Total costs
£
95,843
3,998
1,735
724
460
7,406
1,250
3,000
12,136
553
Marketing
Insurance
Printing, telephone, postage and
stationery
Computer and maintenance costs 724 -
460
-
-
3,000
12,136
3,381
121,277		 -
7,406
1,250
-
-
-
8,656
Bank charges
Accountancy
Independent examiners fees
Recruitment
Travel
Sundry
129,933
Total

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Camara Education UK Ltd Notes to the Financial Statements for the Year Ended 31 December 2023

5.1 Analysis of governance and support costs (continued)

2022
Support costs
£
Marketing
97,998
Insurance
393
Printing,
telephone,
postage
and
stationery
1,080		 2022
Support costs
£
Marketing
97,998
Insurance
393
Printing,
telephone,
postage
and
stationery
1,080		 Governance costs
£
-
-
-		 Total costs
£
97,998
393
104
554
479
4,349
1,100
447
13,497
1,434
stationery
Computer and maintenance costs 554 -
Bank charges 479 -
-
-
447
13,497
3,381
115,882		 4,349
1,100
-
-
-
5,449
Accountancy
Independent examiners fees
Management charges
Travel
Sundry
121,331
Total

6 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Net (outgoing)/incoming resources for the year include:
2023
£
(2,828)		 2022
£
(364)
Foreign exchange gains/(loss)

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Camara Education UK Ltd Notes to the Financial Statements for the Year Ended 31 December 2023

7 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any benefits from the charity during the year £nil (2022: - £nil).

During the year, the charity paid travel expenses on behalf of the Trustees amounting to £nil (2022 - £447). The Trustees reimbursed amounts totalling £nil (2022 - £447). The balance owed to the charity is £nil (2022 - £nil).

During the year, the trustees have given restricted donations of £860 (2022: £3,510) as part of the Diplomasia school campaign. The trustees did not give any restricted donations to the Big Give campaign during the year (2022: £15,300).

Aggregate donations received during the year from Trustees without conditions placed on the charity were £nil (2022: £nil)

8 Staff costs

During the year, the average monthly headcount employed by the Charity was 3 (2022: 3).

The aggregate payroll costs were as follows:

2023
£
110,720		 2022
£
114,507
7,707
3,435
3,743
129,392
Staff costs during the year were:
Wages
Social security costs 6,514
Employer contributions to pension 3,472
Other staff costs 777
121,483

Contributions to the employee pension schemes for the year totaled £3,472 (2022 - £3,435).

No employee received emoluments of more than £60,000 during the year, or in the previous year.

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Camara Education UK Ltd Notes to the Financial Statements for the Year Ended 31 December 2023

9 Debtors

9 Debtors
2023 2022
£ £
Trade debtors 49,604 100,791
Accrued Income 43,304 36,276
Prepayments 2,583 2,339
Other debtors 5,895 10,132
101,386 149,538
10 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 67,083 55,782
Social security and other taxes 3,314 3,883
Amounts owed to group undertakings 238,920 151,222
Accruals and deferred income 50,648 20,161
359,965 231,048
11 Charity status
The Charity is a Charity limited by guarantee and consequently does not have share capital. The Charit
currently has eleven members, each of whom is liable to contribute an amount not exceeding £10 toward
the assets of the Charity in the event of liquidation.
12 Funds
Balance Incoming
Resources
Transfers		 Balance at
at 1 resources
expended
between		 31
January funds December
2023 2023
£ £
£
£		 £
Unrestricted funds
Unrestricted general funds
Unrestricted income fund (43,598) 379,979
(469,696)
(7,835)		 (141,150)
Restricted funds
Restricted income fund 47,828 31,114
(86,777)		 7,835 -
Total funds 4,230 411,093
(556,473)		 - (141,150)

The Charity is a Charity limited by guarantee and consequently does not have share capital. The Charity currently has eleven members, each of whom is liable to contribute an amount not exceeding £10 towards the assets of the Charity in the event of liquidation.

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Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

12 Funds (continued)

Unrestricted funds
Unrestricted general funds
Unrestricted income fund
Restricted funds
Restricted income fund
Total funds		 Balance at 1
January 2022
£
(23,990)
44,858
-
20,868		 Incoming
resources
£
435,615
65,628
501,243		 Resources
expended
£
(455,223)
(62,658)
(517,881)		 Balance at 31
December
2022
£
(43,598)
47,828
4,230

The specific purposes for which the funds are to be applied are as follows:

Unrestricted funds are income from charitable activities and donations provided for support of the charity, without restriction on how funds should be deployed.

Restricted funds:

The Big Give campaign - Camara Education UK Ltd participated in The Big Give fundraising initiative prior to Christmas in 2021, 2022 and 2023. Funds received from this initiative in the period under review were £30,254. Funds spent in Ethiopia on this initiative during 2023 amounted to £68,900.

Diplomasia School – Camara Education UK Ltd received donations of £860 in the period under review for this 2022 initiative with the specific purpose of establishing a computer lab at this school in Dar Es Salaam, Tanzania. Funds spent on this initiative during 2023 amounted to £17,877.

13 Analysis of net assets between funds

3 Analysis of net assets between funds
Cash at bank
Trade and other debtors
Current liabilities
Total net assets		 Unrestricted
funds
£
117,429
101,386
(359,965)
(141,150)		 Restricted
funds
£
-
-
-
-		 Total
funds
£
117,429
101,386
(359,965)
(141,150)

The cash at bank of £117,429 is unrestricted.

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DocuSign Envelope ID: CBEAF30F-EDAE-4722-82FD-F1DB36037E2B

Camara Education UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

14 Related party transactions

At the year end the balance owed to Camara Education Limited Ireland was £238,920 (2022: £151,222).

During the year Camara Education UK Ltd invoiced Camara Education Ireland Ltd £55,000 for the supply of computers.

During the year £350 was given as a restricted donation by Mrs F McNicholas (wife of Mr C Lynch who is Chairman of the trustees) to the Big Give campaign (2022: £nil).

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