Company Registration Number= 07306686
Charity Registration Number.. 1138645
Scottish Charity Registration Number.. SC045815
FREE THE CHILDREN (UK), TIA WE CHARITY
TRUSTEES REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
CONTENTS
Page
Company Information
Tru5tee5' Report
4-16
Auditorfs Report
17-20
Consolidated Statement of Financial Activities
21
Consolidated Balance Sheet
22
Consolidated Cash Flow Statement
23
Notes to the Financial Statements
24-43

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
COMPANY INFORMATION
COMPANY INFORMATION
TRUSTEES
Lord Rumi Verjee ICh3irl
Craig Burkinshaw
Neil Roskilly
Pauline Latham (resigned 27, June 20211
Carlos Pinto
Michael Comish (resigned 25, January 20211
PRINCIPAL OFFICE ADDRESS..
14 Bowden Street
London
SEII 4DS
www.we.c>r
REGISTERED OFFICE ADDRESS
Kings Parade
Lower Coombe Street
Croydon
CRO IAA
COMPANY NUMBER
07306686 (England and Wales)
CHARITY NUMBER
1138645 IEngland and Wales)
OSCR NUMBER
SC045815 (Scotlandl
BANK
Barclays Bank
7-11 st. John's Hill
London
SWII ITR

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
COMPANY INFORMATION
AUDITOR
Crowe U.K. LLP
55 Ludgate Hill
London EC4M 7JW
SOLICITORS
Harbottle and Lewis LLP
7 Savoy Court
London WC2R OEX
ACCOUNTANTS
Bryden Johnson Limited
Kings Parade
Lower Coombe Street
Croydon CRO IAA

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT
The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their
report and the audited financial statements forthe 12-month period which began I" September 2020 and ended
31" August 2021.
The charitable company has prepared its financial statements in accordance with the Companies Act 2006 and
the Statement of Recornrnended Practice.. Accounting and Reporting by Charities ISORP 20151. The financial
statements also comply with the 8overnin8 document of the charitable company.
Free The Children IUKI (registered charity number 1138645 in England and Wales. and SC045815 in Scotlandl is
a charity which operates programmes both domestically and internationally, in a manner that is intended to be
interrelated and mutually reinforcing. Its overarching mandate is to help young people fulfil their potential to
be agents of change.
The Charity went through a rebranding and is now commonly known as WE Charity and will be referred to as
such throughout the rest of the trustees, report.
WE Charity was incorporated on 7, july 2010 and granted charitable status on 28" October 2010.
AIMSAND OBJECTIVES
The Charity's aims and objectives as set out in the company's memorandum of association and articles are..
To advance in life and help young people by providing support and activities which develop their skills,
capacities and capabilities to enable them to participate in society as mature and responsible
individuals.
To relieve poverty, advance educ3tion, relieve sickne55 and promote and protect good health.
WE Charity is a non-denominational and non-partisan organisation. There were no changes in the Charity's main
objectives in the period under review.
D￿AlL5 OF THE MAIN oBJE￿IVEs FOR THE PERIOD 2020-2021
To offer the Charity's prograrnme virtually to domestic and global audiences, and develop innovative,
digltal resources to engage students in a deeper understandin8 of i55ues and to aid teachers in
incorporating them in their cuiriculum during a time when students and teachers were tran51tioning to
virtual learning 3nd dealing with new experiences resulting from the COVID-19 pandemic
To continue the support of international projects throughout developing countries by supporting
holistic and sustainable development programmeslprojects through the 'WE Villages Iformerly Adopt
Villagel model, with a focu5 on the following areas.. education, clean water and sanitation, health,
alternative incorne and livelihood, and agriculture and food securitv
To continue to engage and celebrate youth through globally accessible virtual celebrations. Further
expand our reach and access to students across the UK with online programmes and events, where
more students can participate in the celebration of the youth social action and WE Schools
programming
To embed trauma-informed practice, social emotional learning, ancl mental health literacy into WE
Schools modules, providing youth and teachers with early access to resources and support to help
lessen later manifestation of mental health issues

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
The Mission of the Charity is to empower all people to create change in the world, locally and globally, achieving
transformative outcomes for themselves and others.
WE empowers positive change by providing necessary tools and resources that create sustainable impact. We
do this domestically through WE Schools, and internationally through WE Villages.

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
TRUSTEES. REPORT ANNUAL REVIEW
The period under review has been one of continued change and transformation for the Charity, teachers, and
the youth we support. During this period the Ch3ritV simplified and considerably scaled down its operations and
programmes to include a virtual WE Schools offering and continued sustainability of our international projects
through WE Villages. The transition to our simplified and scaled back model. supported by our digital
transformation strategy that was already underway. was achieved with measurable success, as will be
evidenced in this report.
To provide our WE Villages partner communities the support they needed throughout the ongoing pandemic
we also continued our focus and work on providing funds for the COVID-19 relief programme that was
introduced in fiscal year 2019120, as well as for their development and sustainability projects.
We continued to see successes with both our domestic and international programmes, despite our move to a
scaled back model and the ongoing challenges presented by the pandemic faced by us. as well as our
beneficiarie5, donors, and funding partner5.
Domestic Pro
rammes
The Charitvs core objective is to ensure that all young people are free to achieve their fullest potential as agents
of change. We believe that young people will create positive change locally and globally once they are free from
the notion that they are powerless to make a difference.
WE Schools
Through our online domestic service-learning programme we help youth realise their full potential as
compassionate and active members of their local and global communities and empower them to make a
difference. WE Schools is reigniting the fundamental purpose of education.. moving students to want to learn,
preparing them with the life ski115 to better the world and empowering them to forge their own paths to succe55.
Additionally, we provide professional development programming, curriculum-enhancing classroorn too15, and
well-being resources to teachers, to enable thern to broaden their ski115et, create a safe and inclusive learnin8
environment Bnd promote their own well-being and that of their students and communities.
During the period under review, we have continued to develop a wide range of online educational resources
and have placed a special focu5 on re50urce5 that 5UPPQrt well-bein& building resilience, and Social and
emotional learning. We have particularly concentiated on providing regul3r virtual events to both teacher5 and
students, available live and on demand. All our resources have been housed on our website. including on the
WE Schools Hub, and are designed to be used at home, as well as in the classroom. We additionally made
resources available to parents and carers. to support home learning and to engage with young people most at-
risk. All support options are available free to schools in a digital format as was cornmitted to in response to the
COVID-19 pandemic.
Our resources are designed to enable students to learn skills in leadership, critical thinking, social emotional
learning, and argument formation, amongst others. These are transferable 21, century life skills that are often
missed by traditional models of education.
WE Charity's support for schools. young people. and families across the UK for the 2020121 year includes the
below.

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
WE Schoo15 Hub
Our WE Schools Hub is an online platform acce55ible to teachers, students, and families via our web51te,
offering a library of educational content free of charge. The classroom resources, le550n plans and tools
available are topical and curriculum-matched, all kept in one place to en3ble user5 to easily and
effectively take action on local and global issue5 and change the world for the better. New re50urtes
are uploaded to the WE Schools Hub whenever available. this year with a focus on providing content
on improving well-being.
Global Classrooms and Wrtual Celebratlons
In replacement of in-per50n event5, Global Cla55room5 are virtual events hosted for young people at
secondary school level once a month during the acadernic year. The events allow teacher5, families,
and students to connect with others around the world, learn from each other and be inspired to take
action on local and global issues. Schools can participate in the live events and interactive broadcasts
or watch the videos on demand at their own convenience. In the 2020121 academic year Global
Classrooms brought together experts, advocates, and everyday heroes to speak on a range of issues
including well-bein& diversity and anti-racism, and the environment, and provided groups with
additional re50urce5 to continue the conversation after the events. The final Global Classroom of the
vear took the opportunity to celebrate the achievement5 of young people and teachers participating in
the WE Schools programme around the wtsrld.
Teacher Resour￿$ and WE Professignal Development Events
WE Charity offers a range of resources aimed at supporting teachers in working towards excellence in
education and enriching their students, lives. Our teacher resources include issue-based curriculum-
matched lesson plans, too15 and campaigns found on our WE Schools Hub, as well as professional
development events held once monthly providing virtual workshops that allow teachers to hear from
subject matter experts, learn about the WE curriculum, and take part in dialogues on relevant and
important topics in education. All our teacher resources help teachers address relevant social issues in
their classroom and build capacity to empower their students.
Monthly Newsletters and Tèacher Communications
Each month during the acadernic year we sent out a newsletter to teacher5 signed up to our email
comrnunications, givin8 updates and information on the respective rnonth'5 virtual events, relevant
topical resources, and featured campaigns. The newsletter is tailored to a UK audience and aimed at
guiding teachers through our WE Schools program. In the latter half of the academic year, we
additionally introduced a second UK-focused email communication highlighting new resources and
relevant issues to enhance our support to teachers even further.
WE Schools Groups
Formed by motivated and self-directed teathers and students who are passionate about taking aetion.
these groups come together to raise awareness land occasionally fundsl on local or global issues and
causes that are important to them, leveraging our campaigns. tools and resources found on the WE
Schools Hub.

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
International Pro
rammes
In pursuit of its charitable aims. WE Charity co-operated with WE Charity Icanadal during the period under
review, a charity registered and incorporated in Canada and with whom WE Charity shares similar aims and
objectives. WE Charity achieves its objectives with regards to its international programme by financially
supporting international projects, to date initiated and carried out by WE Charity (Canadal. To further this
initiative, WE Charity provided grants to WE Charity (Canada), which are forwarded to the projects directly or
reimburse them for expenditure for Services rendered.
As WE Charity Icanadal close5 in fiscal year 2021122, the Charity will continue to co-operate on its international
effort5 Wlth WE Charity ICanad31's successor entities. These successor entities will take over the support of
international projects in Kenya and Ecuador. In fiscal year 2021122 WE Charity will provide grants to these
5ucce550r entities.
WE Villages
In Asia, Africa, and Latin America, WE Charity (Canada) has implemented the WE Villages program, a holistic,
effective five-pillar model built on 25 years of experience collaborating with dedicated community members and
international development experts to find solutions that work. The WE Villages rnodel 15 designed to address the
root Causes of poverty and remove the barriers to education to break the cycle of poverty. It is not a handout or
single solution, but a combination of key interventions that empower a comrnunity to help themselves through
five Pillars of Impact.- Education, Water. Health. Food. and Opportunity. At the heart of the asset-
based community development approach lies the belief that the communitvs own assets and resources,
including the people. institutions, skills, and capabilities, are the most critical resources for development. In
essence, it is an approach that seeks to build sustainable livelihoods and to break the cycle of long-term
dependency to promote self-sufficiency.
As per WE Charity (Canadal's international sustainability plan and the ultimate goal of our WE Villages
programming, the majority of the communities we have supported have been transitioned this year, with
projects moving to the local communities who are now set up to sustain themselves in the long term. Due to the
impacts and limitations of the COVID-19 pandemic projects in some cornmunities had to be paused in order to
omply with local health rnandate5 and ensure the Safety of comrnunity mernbers and staff.
Pro
ramme Partnershi
The Charity has been fortunate to have had many 5tron8 Partners who Supported our programmes for teachers
and young people across the UK over the past 11 years. These programmes aim at providing the too15 and
educational resources to encourage and equip students to take action and create positive change in their
communities at local and international level.
Duringfiscal year 2019/20 all partnership programmes were reviewed in light the Charity's decision to scale batk
operations, and, in agreement with our partners, the contracts were paused. The remaining funds were either
repurposed or returned to the partner over the course of the period under review.
WE Charit
s Notable Achievements
Details of the notable achievements which contributed to achieving the overall objectives of the Charity durinE
the period to 31" August 2021 are provided below..

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
WE Schools
al Virtual and Digital Domestic Programming Data
bl Introduction of Well-being Resources
WE Vill3ge5
al Impact Dat
bl COVIO-19 Relief Work
WE Schools
al Virtual and Digital Domestic Programmin8 Data
This year we developed and broadened our virtual and digital program delivery. offering 16 interactive
virtual events, live and on demand, to students and teachers, providing information on a range of
relevant topics, enabling meaningful discussions amongst peers, and inviting subject-matter experts to
speak on global issues. Furthermore, we added new digital well-being resources to our website, and
the WE Schools Hub, complernenting our existing social action re50urtes and ernpowering young
people, teachers, and families to support their well-being and that of their communities during a time
when it was needed most. All our digital programming is easily accessible and available free of Charge.
Despite the scaled back operational model of the Charity in the period under review, and the minirnised
active outreach to schools, we have continued to see a strong number of users and teachers sign up to
the WE Schools Hub and download our virtual resources-.
A total of 1,765 UK teacher5 are registered to the WE Schoo15 Hub, and subscribed to receive
emèils and monthly newsletters engaging them with our virtuèl programming
A total of 7,301 resources have been viewed or downloaded to date
A total of 16 virtual events were held in the 2020121 academic year, two virtual events per
month between October and May, one for students (Global Classroom) and one for teachers
(Professional Development)
bl Introductlon of Well-belng Resources
In the period under review the'lmpr(>ving Well-being, learning outcorne from our learning framework
has continued to be a special focus for us and has shown encouraging uptake. This outcome focuses on
skills in the area of social and emotional learning and building empathy and a sense cif personal
responsibility in young people.
We added new well-being resources to our website and the WE Schools Hub and promoted all our well-
being related resources in our email communications and newsletters, ensuring that teachers were
given the relevant tools and knowledge to guide their students through these difficult times and build
caring and inclusive learning environments. At the end of the school year, we highlighted Family &
Caregiver resources, equipping families Wlth inforrnation and tools to support their well-being over the
summer holidays.
Our well-being resources received a significant amount of uptake this year, conveying a need for
educational resources on this topic..
April 2021 saw a surge in resource downloads compared to previous months after the addition
of a new well-being resource to the WE Schools Hub, with a 155YD increase compared to
resource download5 in March

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
Of the 16 virtual events hosted this year, five were focused on the topics of optirral well-being,
Social and ernotional learnin& resilience, and 5elf-care, and were the tOPlC5 that received the
m05t attention.
2. WE Vlllages
al Impact Data
With support from individual donations received in fiscal year 2019120, the Charity was able to provide
£214.051 in funds towards WE Villages projects during this period. Additionally, during the 2020121
fiscal period the Charity received £43,339 in donations towards our WE Villages projects. which will be
reflected in the next statutory accounts. WE Charity (Canadal has made noteworthy progress on helping
to implement development projects in WE Village communities. With all five pillars of WE Villages
working together, we are confident that the communities we support can become beacons of
5U5tainability and development. Key hi8hlights for the period under review include..
Education.. setting students up for success and on the path to a bright future
In Kenya, 40 new classrooms were built this year, and 30 renovations to government-built
classrooms were conducted
In Ecuador, the Gula8 Community School saw the first high school giaduation ever this
year, with 13 students achieving their high school diploma. Of those Eraduates 60%
passed the test to access university education in a public university
Water: one of the fastest ways to lift a community out of povertv
In 2021 alone, over 1,500 community members now have access to clean water in Kenya
as a result of new water project installations. This number will continue to grow as we
omplete additional water projects currently underway
Health.. helping families stay healthy and thrive for generations
Over 300.000 community members in Kenya directly engaged and trained on COVID-19
prevention, empowering rural populations to keep themselves safe early in the pandemic
Food.. fuelling growing minds and bright future
Provided approximately 2.5 million meals to Kenyan students in the 2020121 school year,
allowin8 them to focus on their studie5. Thi5 Wa5 especially critical thi5 year a5 many
farnilies face econornic hardship and food insecurity during the COVID-19 epidemic
Opportunity.. empowering parents and communities to earn a sustainable income
Opportunity Eroup training session continued throu8htsut 2020121 despite the challenees
presented by COVIO-19 in gathering groups together. These training sessions helped to
increase resilience for our communities during COVID-19 and associated lockdowns.
Our team held training5 for over 55 opportunity groups, covering a variety of topics
including stress rnanagement, entrepreneurship, marketing, time management, credit
management, costing & pricing, leadership, group elections, and personal savings.
In 2020121, through our beekeeping program in Kenya, which was developed
from microloans provided in 2019. we distributed a total of 124 beehives to
community groups. This resulted in over 220 kilograms of honey harvested. and
over 113,000 KSH of revenue for the opportunity groups.
bl COVID-19 Relief Work
During the period under review, the Charity has continued to financially contribute to WE Charity
io

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
(Canadal's COVID-19 relief plans in Kenya and Ecuador. WE Charity (Canadal's teams on the ground in
our WE Villages communities in Kenya and Ecuador have been working collaboratively with both local
nd national governments, as well as local medical clinics, to ensure the effective implementation of
our COVID-19 relief work in their communities.
With a focus on the Health and Food pillars, we were able to achieve the following COVID-19 relief work
in Kenya in the period under review..
COVID-19 relief efforts included awareness and education campaigns in the Bomet region,
reaching over 100,000 people
The Baraka Hospital received ventilators to support any seriou5 case5 of COVID-19
A field unit was set up next to Baraka Hospital to address the spike in COVID-19 cases. To
eliminate any cross contaminatitsn of patients, a pre-screening process was added before
entrance to Baraka
The Baraka Hospital Team started receiving the COVID-19 vaccine, aiding in community
immunisation awareness
Medical 5upplie5 were provided to Baraka Hospital a5 they prepared to handle a potential influx
in new patierit arriva15
To mitigate food insecurity during the pandemic, the team in Kenya has provided over 930.000
nutritious meals to over 100 different communities, in addition to our ongoing sustainable food
security investments
Focu5 was a150 placed on stren8thenin8 rural small-5cale farmers and Supporting individual
homestead gardens to ensure communities remain food secure through the distribution of
vegetable seeds
We were also able to cornplete some COVID-19 relief work in Ecuador during the period under review..
To support COVID-19 awareness and prevention activities in Ecuador we ran educational
campaigns for 1500 community members across 11 communities
COVID-19 prevention trainin8 provided to students and community mernber5 in Ecuador
included training on important prevention 3spect5 such a5 hand washing, mask wearing, and
social distancing
WE donated medical supplies to their clinics. including hand sanitisers. vitamins and first aid
supplies
Focus was also placed on emergency food support,. the team in Ecuador provided over IOOOkg
of food and 3000 fish to local families
WE Charit Future Plans- 2021
22 Fiscal Yèar
The Charity's focu5 continues to be on the 5U5tainability of our domestic program5 and Supporting international
projects through WE Villages where po55ible. This fistal year we had great success with our simplified and scaled
down operational model, which shifted our WE Schools 50C131 action program to a digital-only forrnat, ensuring
that schools, teachers. and students were able to tontinue to benefit from the programming throughtsut periods
of school closures and online learning. With this success and the ongoing need for virtual support 8enerated bv
the COVID-19 pandemic, the Charity's Trustees made the decision to continue with the scaled down model
moving into 2021122 fiscal year.
li

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
Public Benefit
The Charity Commission in its Charities and Public Benefit Guidance requires that there are two key principles
to be met to show that an organisation's aims are for the public benefit. Firstly, there must be an identifiable
benefit. Second, the benefit must be to the public or a section of the public.
The Trustees confirm that in setting the Charity's objectives and in planning its activities. they have had due
regard to the Charity Commission's guidance on public benefit and that they will continue to ensure each year
that they will consider how the Charity continues to meet the public benefit objectives outlined of the Charities
Act 2011.
The organisation's goals and objectives continue to be as set out in the company's memorandum of association
and articles..
To advance in life and help younE people by providing support and activities which develop their skills,
capacities and capabilities to enable them to participate in society as mature and responsible
individuals.
To relieve poverty, advance education, relieve sickness and prorrote and protect good health.
The Charity will deliver on these goals and objectives in the future by providing teachers and young people in
the UK ongoing access to WE Schools programme digitally for free whilst also continuing to support
internationally the WE Villages programme.
The Trustees are satisfied that the Charity meets with the requirements and conforms with the Act'5 definition
of a charity meeting all of the key elements of the two key principles.
Financial Review
The results of the period set forth on pages 24-46 are the consolidated results of both WE Charity and its wholly
owned trading subsidiary We Education Limited (whose sumrnarised individual result5 can be found in note 101.
It Is important to note that due to the 5irnplified operating model and the Charity'5 focus on digital delivery, it
was decided by the Trustees and our partners in fiscal year 2019120 to pause our corporate and government
partner5hip5 and repurpose or return some of the unused programmatic fund5 to our pBrtner5. Thi5 wa5
reflected as a large expenditure in the restricted funds in the fiscal year 2019120 and will be partially reflected
during the period currently under review. This expenditure impacted restricted funds only and the Charitv
continues to be in a healthy position in respect of its unrestricted funds, which will ensure the Charity's
continued ability to maintain its simplified operating model for the foreseeable future. The consolidated gross
revenue5 for the period, totalled £147,300 of which £43,339 were re5trict8d fund5 for internation31 programs
and £103,961 were general funds. The Charity's principal source of funding in the period derived from individual
donors. During the period under review, the Charity spent £635.636 on charitable activities, which includes
project grants provided totalling £21,535 and other direct costs including the return of restricted funds to
partners of £173,110.
A5 of 31st August 2021, the general funds Stood at £358,705 and the restricted fund5 at £43,339.
12

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
Structure Governance and Mana
ement
Governing Doeument
WE Charitrfs governing docurnent is it5 Memorandum and Articles of A550ciation. We Education Ltd. Ire815tered
in England and Wales under registration number 085265241 is a trading subsidiary wholly owned by Free The
Children IUKI.
Directors and Trustees
The Directors of the Charitable Company (The Charity) are its Trustees for the purpose of charity law and
throughout this report are collectively referred to as Trustees.
The Charity may appoint a new Trustee by ordinary resolution. Potential new Trustees may be recommended
by members of the existing Board on the basls that the candidate has the required specialist skills needed. Newly
appointed Trustees are provided with an information pack about the Charity and are given a briefing, as well a5
detai15 concerning their duties and responsibilitie5 a5 custodians of the Charity.
Related Parties
WE Charity and WE Charity (Canada) are related parties that share the same founders and the same aims and
objectives. They are independent charities with separate governance structures and trustees.
Charit Governance Code
A new Charity Governance code was introduced in 2017 as a tool to guide best practice in Charity governance,.
as part of our commitment to maintaining good governance the management team and the Trustees decided to
follow the Charity Governance code guidelines, focusing different priorities each fiscal based on the need of the
Charity.
During the 2020121 period under review, as WE Charity moved into its scaled back operational model, the board
committed to reviewing the principles of 'Organisational Purp05e' and 'Decision Making, Risk, & Control, These
principles were address as outlined below and continue to be reviewed.
Organisational Purpose- It is important that the board is clear about the charitys aim5 and ensures
that these are being delivered effectively and sU5tainably. The successful tran51tion to a di8ltal deliverv
method has enabled the charity to continue to achieve its mission and purpose in a more sirnplified and
sustainable method.
Decision Makin& Risk, & Control The board makes sure that its detision-making processes are
informed, rigorous, and timely, and that effective delegation, control and risk-a55e55ment, and
management systems are set up and monitored. To practice this, additional financial control measures
were introduced including monthly review meetings on the management accounts, internal credit card
control processes and bank account reviews between senior management and the Charity's accounting
firm supported by meeting minutes that summarize the review discussions and are filled for future
reference. Increased touchpoints on cashflow, invoice payments and management accounts between
operational Staff and the Board Financial Representative were a150 introduced.
As part of WE Charity's commitment to strong governance and to ensure its ongoing compliance with the code,
the Governance Codewill continue to be reviewed throughout the 2021122 fiscal year as we remain in our scaled
back operational mode.
13

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
Charit Fundralsin
The fundraising approach taken by the Charity for the period was to reduce the need for active business
development activity in line with the decision to scale back the organisation's operations. The Charity would
however retain its other, smaller fundraising efforts made through our online donation platforms. There are
some schools who participate in the WE Schools programme who also undertake fundraising activities in support
of WE Villa8e5, at their discretion.
No professional fundraisers or commercial participators were hired by WE Charitv.
The Charity adheres to the following standards of fundraising..
WE Charity seeks to inform. serve, guide. tsr otherwise assist donors who wish to Support WE Charity
activities, but never under any circumstances to pressure or unduly persuade.
WE Charity does not sell donor information or otherwise share personal information with any party
WE Charity partners with companies and funders who share a cornmon vision of empowerment
We have complied with these standards for any of the funds raised during this period.
There have been no complaints about activities by the Charity in the course of fundraising.
The measures the Charity has taken to protect vulnerable people and other members of the public from
behaviour in the course of, or in connection with, fundraising activities are detailed in our privacy policy, which
an be found in full at htt
www.we.or
rivac
This policy was last updated on l Ortober 2019.
The rnost vulnerable population who we encounter in the course of our charitable work ale children. Our policy
contains different definitions of consent for different age groups (including special provisions for people under
the age of 18 and people under the age of 131. as well as a parental consent form for individuals under the age
of 13.
Grant Makin
WE Charity makes grants to WE Charity Icanadal, a partner charity, in order to fulfil the objectives of the WE
Villages programme. The Trustees award grants only after careful considerations on the merits of each
application and after ensuring that the grants provided rneet the stated objectives of the Charity.
Formal grant request procedures are in place which outline funding required and deliverables to the partner
charities. Grants to WE Charity (Canada) are monitored through programme audits contracted on a periodic
basis to ensure the quality of the programmatic deliverables and the use of fund5. Pro8ramme delivery and use
of fund5 is audited in Canada and verified in the UK.
Reserves Polit
WE Charity holds financial reserve5 to be applied to future activities in a number of categorie5:
General Available to be applied, at the discretion of the Trustees, to any of WE Charity's charitable
purpose5.
DesiEnated- Those funds which the Trustees have set aside from general funds for the benefit of the
particular project.
Restricted- To be applied to the specific purposelsl intended by the donor.
14

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
The policy of the Charity is to have target free reserves at a level equivalent to three months expenditure on
these items. The Trustees consider that free reserves at this level will ensure that they will be able to continue
the Charitvs current activities and scale down model until regular fundraisin8 activitie5 resume.
As at 31 August 2021, the Charity held total funds of £358,705 available for general purposes of the Charity
which represents more than I years, expenditure. This is above the target set, and the Trustees consider this
sufficient based on a review of the 12-rnonth cash flow forecast which shows the reserves will be met for the
coming year to ensure the on80in8 Sustainability of our charitable work. Restricted funds stood at £43,339 and
there are no designated funds.
Goln
Concern
In assessing going concern, the Trustees have taken into account the Charitvs continued scaled back operational
model, which includes online virtual delivery of all programs supported by our global support team IWE Charitv
(Canadall until its closure within fiscal year 2021122, followed by the WEllbeing Foundation thereon. no WE Days
for the foreseeable future, the current cash position of the Charity, as well as funding limitations, and the cash
flow forecast. After reviewing various operational and financial scenarios, the Trustees decided that the scaled
back operational model continues to provide the best opportunity to ensure the following..
That the Charity can remain operational for the next 12 months and beyond
That the Charity can continue to deliver on its objectives and aims by focusing on the 5UStainability of
domestic programmin8 (WE Schoo151 and international projert5
That the Charity can sustain its operational expenses which have been significantly reduted
That the Charity has a healthy unrestricted reserve fund to support any unexpected expenses that may
arise
Based on this review and discussion. the Trustees are confident that the Charity will have sufficient fundine to
continue in its revised operational model for the future and to cover all financial liabilities moving forward.
Statement of Trustees, Res
onslbllltles
The Trustees (who are also directors of WE Charity for the purposes of company lawl are responsible for
preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and
United Kingdom Generally Accepted Accounting Practice (united Kingdom Accounting Standards).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the charitable company and the group and of the incoming resources and
application of resources, including the income and expenditure of the charitable group for that period. In
preparing these financial statements the Trustees are required to..
select suitable accounting policies and then apply them consistentlv,.
observe the methods and principles in the Charities SORP.,
make judÈments and estimates that are reasonable and prudent-
state whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unle55 It Is inappropriate to presume that
the charitable company will continue in business.
15

WE CHARITY
FOR THE YEAR ENDED 31 AUGUST2021
TRUSTEES REPORT (CONTINUED)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitable company's transactions, disclose with reasonable accuracy at any time the financial position of
the charitable company and enable them to ensure that the financial statements comply with the Companies
Act 2006 and the Charities and Trustee Investment (Scotlandl Act 2005, the Charities Accounts (Scotlandl
Regulations 2006 las amended) and the provisions of the Charitvs constitution. They are also responsible for
safeguarding the assets of the Charity and the group and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Dix105ure of information to auditors
Insofar as each of the Trustees of the Charity at the date of approval of this report is aware there is no relevant
audit information linformation needed by the Charity's auditor in connection with preparing the audit report)
of which the Charity's auditor is unaware. Each Trustee has taken all of the steps that they should have taken as
a Trustee in order to make themselves aware of any relevant audit information and to establish that the Charitvs
auditor is aware of that infoirnation.
In the period under review, due to the scaled down operational model, the charity is taking advance of the small
companies exemption.
The trustees report has been approved and signed on behalf of the Board by Lord Rumi Verjee.
Lord Rumi Verjee
Chairman. Free The Children IUKI
Date.. 13th January 2022
16

INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS AND TRUSTEES OF FREE THE CHILDREN (UK)
Independent Auditor's Report to the Members and the Trustees of Free the
Children IUK)
Opinion
We have audited the financial statements of Free the Children IUKI for the year ended 31 August 2021 which
comprise the Statement of Financial Activities, Consolidated and Charitable Cornpany Balance Sheet5,
Consolidated cashflow statement and notes to the financial stètements, including significant accounting policies.
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 Practicel.
In our opinion the financial statements..
give a true and fair view of the state of the group's and the charitable company's affairs as at 31 Aueust
2021 and of the group's 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, the Charities and
Trustee Investment (Scotlandl Act 2005 and Regulation5 6 and 8 of the Charities Accounts 1Scotlandl
Regulation5 2006 lamendedl.
Basis for opinion
We conducted our audit in accordance with International Standard5 on Auditing IUKI IISA5 IUKII and applicable
law. Our responsibilitie5 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 group 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 ba515 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 relatine to events or
condition5 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 staternents 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 trustees are responsible for the other information contained within the annual report. The other
information comprises the information included in the annual report, other than the financial statements and
our auditor's report thereon. 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.
17

INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS AND TRUSTEES OF FREE THE CHILDREN (UK)
Our re5pon5ibility is to read the other information and, in doing so, con5id8r whether the other information is
materially incon515tent with the financial staternent5 or our knowledge obtained in the audit or othenmise
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 our audit
the information given in the trustees, report, which includes the director5, report and the Strategic report
prepared for the purposes of company law, for the financial year for which the financial statements are
prepared is consistent with the financial statements.. and
the strategic report and the directors, report included within the trustees, report have been prepared in
ccordance with applicable legal requirements.
Matters on which are required to report by exception
In light of the knowledge and understanding of the eroup and charitable company and their environment
obtained in the course of the audit, we have not identified material misstatements in the strategic report or the
directors, report included within the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and
the Charities Accounts (Scotlandl Regulations 2006 requires us to report to you if. in our opinion..
adequate and proper accounting records have not been kept.. 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.. or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small cornpanies, exemptions IN preparing the trustee5' directors, report
and from the requirement to prepare a strategic reportl.
Responsibilities of trustees
A5 explained more fully in the trustee5' responsibilitie5 Staternent set out on page 16, the trustees (who are a150
the director5 of the charitable company for the purposes of company13wl are responsible for the preparation
of thefinancial statements and for beinÈ satisfied that they give a true and fair view, and for such internal control
as the trustees determine is necessary to enable the preparation cif financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessinE the charitable companrfs 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
We have been appointed 35 auditor under section 44llllcl of the Charities and Trustee Investment (Scotlandl
Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations
18

INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS AND TRUSTEES OF FREE THE CHILDREN (UK)
made or having effect thereunder.
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 auditorfs report that includes our
opinion. Reasonable a55urance 15 a high level of assurance, but is not a guarantee that an audit conducted in
atcordènee with ISAS IUKI will always detect a material misstatement when it exists. Misstatement5 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.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and
non-compliance with laws and regulations are set out below.
A further description of our responsibilitie5 for the audit of the financial statements 15 located on the Financial
Reporting Council'5 website at.. www.frc.or
auditorsre5
on5ibilities. Thi5 description form5 part of our
auditor'5 report.
Extent to which the audit was considered capable of detecting irregularities, including
fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and
assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud
or error. and discussed these between our audit team members. We then designed and performed audit
procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a
basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company and
group operates, focusing on those laws and regulations that have a direct effect on the determination of material
amounts and disclosures in the financial statements. The laws and regulations we considered in this context
were the Companies Act 2006, the Charitie5 Act 2011 and The Charitie5 and Trustee Investment (Scotlandl Act
2005 together with the Charitie5 SORP IFRS 1021. We assessed the required compliance with these laws and
regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on th
financial statements but compliance with which might be fundamental to the charitable company'5 and the
group'5 ability to operate or to avoid a material penalty. We a150 considered the opportunities and incentives
that may exist within the charitable company and the group for fraud. The laws and regulations we considered
in this context for the UK operations were taxation legislation and employment legislation.
Auditing stand3rds limit the required audit procedures to identify non-compliance with these law5 and
regulations to enquiry tsf the Trustees and other management and inspection of regulatory and legal
correspondence. if any.
We identified the greatest risk of material impact on the financial statements from irre8ularities, including fraud.
to be within revenue rectsgnition, going concern and the override of controls by management. Our audit
procedures to respond to these risks included enquiries of management and Board of Trustees about their own
identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing
accounting estimates for biases, sample testing of revenue, reviewing regulatory correspondence with the
Charity Commission, and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements. even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations lirregularitie51 is from the events and transactions reflected in the financial 5tatementS, the less likelv
the inheiently limited procedure5 required by auditing standard5 would identify it. In addition, a5 With any audit,
19

INDEPENDENT AUDITOR'S REPORT TOTHE MEMBERS AND TRUSTEES OF FREE THE CHILDREN (UK)
there remained a higher risk of non-detection of irregularitie5, a5 these may involve collusion, forgery,
intentional omissions, rnisrepresentation5, or the override of intern31 controls. We are not re5pon5ible for
preventing non-compliance and cannot be expected to detect non-compliance with all13ws and regulations.
Us8 of our report
This report 15 made 501ely to the charitable companrf5 members, as a body, in accordance with Chapter 3 of Part
16 of the Companie5 Act 2006, and to the charitable company's trustees, Bs a body, in accordance with
Regulation 10 of the Charities Accounts (Scotlandl Regulations 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
and the charitable company'5 trustees as a body, for our audit work, for this report, or for the opinions we have
formed.
Julia Poulter
Senior Statutory Auditor
For and on behalf of
Crowe U.K. LLP
Statutory Auditor
London
Date 17th January 2022
20

FREE THE CHILDREN IUKI, TIA WE CHARITY
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
Notes
General
Funds
Restricted
Funds
Total
2021
Total
2020
Income From..
Voluntary incomeldonations & Grants
Other trading activities
Investment income
102,786
1,158
17
43,339
146,125
1,158
17
2.892.090
377.631
122
Total Income
103,961
43,339
147,300
3,269,843
Expenditure on:
Raising funds
Charitable activities
16.800
5.864.151
363,584
272.052
635,636
Total expendlture
363,584
272.052
635,636
5.880.951
Net incoming resour￿5
259.6231
1228.7131
488.3361 12.611.108)
Transfers
118,343
1118.3431
Net movement in funds
Reconclliatlon of funds..
Fund balances brought forward
1141,2801
1347,0561
1488,3361 12,611,1081
499,985
390,395
890.380
3,501,488
Fund balances carried fon¥ard
358,705
43.339
402.044
890,380
All of the above result5 are derived from continuing activities.
There are no gains or losses other than the net movement on funds stated above.
The notes I to 21 fomi part of these financial statements
21

FREE THE CHILDREN IUKI, TIA WE CHARITY
CONSOLIDATED BALANCE SHEET
AT 31 AUGUST 2021
Group
2021
Charity
2020
2021
2020
Ntstes
FIXED ASSErs
Tangible assets
Investment5
1.019
1.019
io
1,019
1.020
CURRENT ASSETS
Debtors
Cash at bank and in hand
li
6,210
420,293
426,503
49,870
2,794,421
2,844,291
126,846
410,052
536,898
679.506
2,427.178
3,106,684
CURRENT LIABILITIES
Creditors amounts falling due within
one year
Provisions
12
124.4591
1289,5201
124.4591
1447.0201
13
11,665,4101
124,4591 11,954,9301
11,665,410)
124.4591 12.112.4301
NET CURRENT ASSETS
NET ASSETS
402,044
402.044
889,361
890,380
512,439
512.440
994,254
995,274
FUNDS
Unrestricted funds.. General
Restricted funds
17
18
358,705
43,339
402.044
499,985
390.395
890,380
469,101
43,339
512,440
604.879
390,395
995,274
The notes I to 21 form part of these financial 5tatementS.
Gross incoming resources for the parent lintluding in kind donations) for the period under review was £146,169
12020.. £2,892,1481. Net incoming resources for the parent for the period (including restricted funds) was
£146.16912020.' £2,623.1351.
The Charity is taking advance of the small companies exemption.
The financial statements were approved by the 8oard of Trustees and signed on its behalf bv..
Lord Rumi Verjee
Chairman. Free The Children IUKI
Date 13th January 2022
22

FREE THE CHILDREN IUKI, TIA WE CHARITY
CONSOLIDATED CASH FLOW STATEMENT
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
2021
2020
Cash flows from operating activities
Net cosh providedby (used in) operatin9 activities
12,374.2951 1538.11)01
Cash flows from investin8 activities
Investment income
17
122
Purchase of tangible fixed assets
Proceeds from sale of fixed assets
150
Net rqsh provfflded by (used in) investing activities
167
122
Change in Cash and Cash Equivalents in the Reporting Period
Cash and Cash Equivalents at the Beginning of the Reporting Period
Cash and Cash Equivalents at the End of the Reporting Period
12,374.1281 1537.9791
2,794,421
3,332.400
420,293
2,794,421
lal Reconciliation of operating surplus to net cash inflow from operating
attivities
Net incorning re50urce5
Investment income
1488,3361 12,611,108)
1171
11221
899
1,349
Depreciation
Loss on sale of fixed assets
1301
43,660
531,465
1265,0611 1125,0941
11,665,410)
1,665.410
Decrease / Ilncrea5el in debtors
IDecreasel I Increase in creditors
Decrease / Ilncreasel in provisions
Net cash provided by (used in) operating activities
12,374,295) 1538.11)01
The notes I to 21 form part of these financial statements.
23

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
Free The Children IUKI, trading as WE Charity is a charitable company registered in England and Wales with
registration number 07306686. WE Charity is also a registered charitable company in Scotland with registration
number SC045815. WE Charity is a children's charity and is unique in that it operates programmes both
domestically and internationally, in a manner that is intended to be interrelated and mutually reinforcing. Our
overarching mandate is to help children and young people fulfil their potential to be agents of change.
WE Charity meets the definition of a public benefit entity under the guidance issued by the Charity Comrnission.
The charity is taking advance of the sm311 companies exemption.
ACCOUNTING POLICIES
a) Basls of preparatlon
The accounts (financial statements) have been prepared in accordance with the Charities SORP
IFRS1021 applicable to charities preparing their account5 in accordance with the Financial Reportin8
standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally
Accepted Practice a5 It applies frorn l January 2015.
The Trustees have considered the Charitqs scaled down operational model based on 11 continued
online virtual delivery of all WE Schools programs and sustainability of internètion31 projects, supported
by the WEllbeing Foundation and the WE Charity Foundation Isuccessor entities to WE Charity
Icanadall, 21 no execution of WE Day5 for the upcoming year, 31 the current cash positiori of the Charity
41 the funding pipeline, and 51 the cash flow forecast. After careful review the Trustees believe there
are no material uncertaintie5 about the ChariW5 ability to continue in it5 scaled down operational
model. and therefore the accounts have been prepared under the going concern basis.
These financial statements present the consolidated results of WE Charity and its wholly owned trading
subsidiary We Education Ltd (Company number.. 08526S241, a charitable company registered in England
and Wales. The results of the subsidiary have been consolidated on a line by line basis. No separate
income and expenditure account of the Charity has been presented, as permitted by Section 408 of the
Companies Act 2006.
bl Going concern
During the period under review, WE Charity received the majority of its funding from a one-time
unrestricted grant from its partner WE Charity (Canada) and donations from individual supportive
donor5. In asse55in8 going concern, the Tru5tee5 have considered the opening unrestricted fund
balance for the next period and the cashflow forecast for the fiscal year 2021122 and beyond. The
ca5hflow forecast was prepared on the basis of a continued operational scale down, with 5ignificantlv
reduced operating expenses, no WE Days and no funding from donors. Following the review of 3 variety
of operational and financial scenarios, the Trustee5 decided this continued operational Scale back
provides the best opportunity for the Charity to best meet its objectives and maintain financial health.
Taking into account the assessment of funds and cashflow, as well as the contingency plans in the form
of core individual donors who have indicated a willingness to support the Charity if required, the
Trustees are confident that the Charity will have sufficient funding to continue in its current scaled back
operational state for the foreseeable future, and to cover its liabilities moving forward.
24

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
ACCOUNTING POLICIES Icontinuedl
c) Incomè
Voluntary income including donations, gifts. legacies or Erants from various individuals. corporations
and charitable foundations are recognised when there is entitlement, probability of receipt and when
the amount can be measured with sufficient reliability. Such Income is only deferred when..
The donor specifie5 that the grant or donation must only be used in future accounting
periods.
The donor has imposed conditions which must be met before the Charity has unconditional
entitlernent.
Donated goods or services received are included in the Statement of Financial Activities as both
intaneible income and cost at a value estimated by the Trustees.
All incoming resources are reported gr055 before expense5.
dl Expènditure
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation
committing the charitable company to the expenditure. All expenditure is accounted for on an accruals
basis and has been classified under headings that aggregate all costs related to the cate80ry.
Grants payable are payments made to third parties in furtherance of the charitable objectives of the
Charity. Grants are accounted for when either the recipient has a reasonable expectation that they will
receive a grant and the Trustees have agreed to pay the grant without condition. or the recipient has
met the condition attached to the grant and the Trustees are satisfied they have done so.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Support costs
Overhead and support costs have been allocated across activity categories on a basis
onsistent with the use of the resource, e.g. salaries allocated on the ba515 of estimated time
spent and office overheads by estimated usage.
Ralslng funds
Included in this category are directly associated costs of fundraising consultants.
Charitable activities
This represents all direct costs (including grants) associated with identified charitable
activities together with attributed support cost5. The majority of cost5 noted under
charitable activities in the period under review are related to the return of unspent
restricted funds.
iv)
Governance
This represents all costs involving public accountability of the Charity and its compliance
with regulation and good practice. These costs include costs related with statutory audit
and constitutional requirements.
25

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
ACCOUNTING POLICIES Icontinuedl
e) Taxatlon
WE Charity. as a registered charity, is potentially exempt from taxation on income and gains falling
within section 466-493 of the Corporation Taxes Act 2010 and section 256 of the Taxation of
Chargeable Gain Act 1992 to the extent these are applied for charitable purposes.
Tangible fixed assets
The cost of tangible fixed assets is their purchase cost together with any incidental costs of
acquisition. Tangible fixed assets are capitalised above £1,000.
Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed
a55et5 by equal 3nnual inst3lments over their expected useful lives. The rate applicable for Office
equipment and furniture is 25%.
gl Flnancial Assets and Llabllitles
WE Charity has financial assets and financial liabilities of a kind that qualify as basic financial
iristruments. Basic financial instruments are iriitially recogni5ed at transaction value and
subsequently measured at amtsrtised cost using the effective interest method. Financial assets held
at amort15ed cost comprise trade and other debtors. Financial liabilities held at amortised cost
comprise, trade and other creditors.
Investments in subsidiary undertakings are held at cost less impairment. An analysis of assets and
liabilities is set out in Note 14.
h) Funds
General funds
General funds are donations and other incoming resources reteivable or generated for the
objects of the Charity without specified purpose.
Deslgnated funds
Designated funds are those funds which the Trustees have set aside from general fund5 for
the benefit of a particular project.
Restrirted funds
Restricted funds are specifically donated to the Charity where the donor has specified they
be used for the benefit of a specific project or for a particular administrative cost.
26

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
ACCOUNTING POLICIES Icontinuedl
il Judgements and estimate5
In the application of the Charity's accounting policies, which are described in note I, Trustees are
required to make judgements, estimates, and assumptions about the carrying values of assets and
liabilitie5 that are not readily apparent from other sources. The estimates and underlying
assumptions are based on historical experience and other factors that are considered to be relevant.
Artual results may differ frorn these estimates.
The 8stimates and underlying a55umptions are reviewed on an on-going basi5. Revisions to
accounting estimates are recognised in the period in which the estimate is revised if the revision
affect5 only that period, or in the period of the revision and future periods if the revision affects the
current and future periods.
In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting
assets and liabilities at the balance sheet date are likely to result in a material adjustment to their
carrying amounts in the next financial year. The principal accounting policies, as set out above, have
all been applied consistently throughout the current reporting period and the preceding year.
DONATIONS AND GRANTS
General
Restrlcted
Total
Total
Funds
Funds
2021
2020
Donations and grants
102,786
43.339
146,125
2,721,196
Gifts in Kind
170,894
102,786
43,339
146,125
2,892,090
In the previous period WE Charity benefited from the Government's Coronavirus Job Retention
Scheme. During thi5 period total grants received from this scheme was nil12020.. £86,115).
Gifts in Kind represent the Trustees, estimate of the value of goods and services received by the
Charity. In the period under review the total donated serviced received are nil12020.' £170,894). In
previous years the total included donated services from WE Charity (Canada) received for staging th
annual WE Day event, including stage production, flight and accommodation costs.
27

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
INCOME FROM OTHER TRADING ACTIVITIES
2021
2020
Sponsorship income
WE Day 5pon50r5hip incorne
312,8(X)
Other sponsorship income
1,158
64,831
1.158
377.631
28

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
RESOURCES EXPENDED
During the previous period and in the period under review resources expended include unspent restricted fund5
returned to fundeis, in line the Charity's move to a scaled back operational model.
Grants and
other
projert
osts
Event
Productlon
costs
Other
dlrect
costs
Support
osts
Total
2021
Total
2020
Expenditure on raising funds
Fundraising cost
16,800
Charitable activities
WE day Event costs
11371
11371
720,677
International Projects-Grants
214,051
214.051
1.139,252
Be the Change- UK School tours
11.3081
9.987
8,679
658,739
Team London
316,709
Boots
12.5091
2.941
432
181,376
VA Scholarship Trip
28,259
28,259
75,612
#iwill Fund I
12.3861
8.785
6,400
645,773
#iwill Fund 2
12,1401
S,IS3
3,014
535,961
KPMG - WE Schoo15
250,514
Virgin Pa55POrt To Change
15431
2,236
1,693
475,717
Unilever- Dove
14191
14191
47,056
Unilever Persil
13081
13081
30,989
Youth Action Grants
18,000
The Queen's Commonwealth Trust
9,035
1,354
10.389
9.611
Governance
6,592
74,467
81.059
57,807
Other Costs
43
12,500 1135,2711
405.254
282.526
700,358
Total Charitable activities
6,634
21,535
173,110
434,357
635,636
5R64,151
Total resources expended
6,634
21,535
173,110
434,357
635.636
5A80,951
29

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
In the previou5 financial year, a provision was made in respect of clawback funds for variou5 projects. During the
peiiod the funds were repaid to the donor5 and any undei or over provision has been released to the statement
ALLOCATION OF SUPPORT COSTS AND OVERHEADS
Support costs are those expenses incurred in connection with the administration and operation of the Charitv.
For the period under review all Supports cost5 were allocated towards delivering the Charity's UK domestic
programme. against unrestricted funds or toward international site visits. An analysis of how support costs
were allocated is given below..
Salaries &
related
Offlte
Total
Totol
cost5
overhead
2021
2020
WE Day UK
International project-WE Village
Be the Change-UK school tours QT
Be the Change-UK school tours VA
Be the Change-UK school tours GW
Virgin Passport To Change
Team London
Boots
KPMG- WE Schools
#iwill Fund I
#iwill Fund 2
VA Scholarship Trip
Unilever- Persil
Unilever- Dove
Unrestricted funds
5,775
1561
9,171
67,539
1401
108,914
275,052
154,941
78,128
216,195
225,695
564
30,961
30,657
474,554
2,442
7,544
2,442
7,544
2,236
2,236
2,941
2,941
8,785
5,153
8,785
5,153
341,981
63,275
405,255
Total support costs
371.083
63.275
434,358 1,678,050
30

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
ANALYSIS OF CHARITABLE EXPENDITURE BY FUND
General
funds
Restricted
funds
Total
2021
Total
2020
WE Day
International projects
Be The Change- UK Schools tours
Virgin Passport To Change
Team London
Boots
11371
214.051
8,679
1,693
11371
214,051
8,679
1,693
720.677
1.139,252
658,739
475.717
316.709
181,376
75.612
645.773
535.961
250,514
9,611
30.989
47,056
18,000
758,165
432
432
VA Scholarship Trip
#iwill Fund I
#iwill Fund 2
KPMG- WE Schools
Queen's Cornmonwealth Trust
Unilever- Persil
Unilever- Dove
Youth Action Grants
Other costs
28,259
6.400
3,014
28,259
6,400
3,014
10,389
13081
14191
10,389
13081
14191
363,584
363,584
Total charitable expenditure
363,584
272,052
635,636
5.864.151
GOVERNANCE COSTS
Group
2021
2020
Auditor5 fees statutory audit in relation to current period
Auditors fees- statutory audit in relation to prior year
Non audit fees in relation to Current period
Non audit fees in relation to prior year
Other Professional Fees
15,000
22,080
16.140
5.205
6,875
59.184
14.382
Total governance costs
81.059
57.807
The increase in professional fees in the period under review is due to the move to a scaled back
operational model, includin8 the related leg31 fees which enabled a 5rn00th transition and the
outsourcing of finance support.
31

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
INCOME FOR THE PERIOD BEFORETRANSFERS
Group
2021
2020
This is Stated after charging..
Auditors remuneration
Non audit fees (current auditor)
Depreciation
15.000
6.875
899
38,220
5,205
1.349
STAFF COSTS
2021
2020
Wages and salaries
Social 5eturitV Costs
Employer's pension contributions
339,753
27,417
3,913
371,083
1.232.248
117,706
28,390
1,378,344
Other costs of employment
827
9,534
371,910
1,387.878
Higher Paid Staff - Overall pay for the period
2021
2020
£60,000- £70,000
£70,000- £80,000
£80,000- £90.000
£ioo.000- £iio,000
None of the Trustees of the Charity were remunerated for theirtime or reimbursed for expenses incurred
in carrying out their duties.
The average number of employees durin8 the period w35 412020.. 361. The reduction in the average
number in employees tompared to the previous period is due to the implementation of the staled back
operational model in the period under review and the resulting move to a minimised staffing model.
Redundancy payments of £125,686 were made in the year12020'. £70,002) these were fully provided for
at the previous year end. There are no remaining amounts owed at the year end.
Key management personnel were reduced over the course of the period in line with the scaled back
operational model. The total remuneration of key management personnel during the year was £284,CM)3
12020.. £457,506).
32

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
TANGIBLE FIXED ASSETS- GROUP AND CHARITY
Offlce
Equipment
& furniture
Cost..
At I September 2020
11,859
Additions
Disposa15
12,9211
At 31 August 2021
8.938
Depreciation..
At I September 2020
10.840
Disposa15
12,8011
Chaige for the period
899
At 31 August 2021
8,938
Net book value
At 31 August 2021
At 31 Auyijst 2020
1.019
33

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
io.
INVESTMENT IN SUBSIDIARY COMPANY
Charitv
2021
2020
Investment
WE Charity owns IOOYO of the ordinary share capital of its trading subsidiary We Education Limited. A
summary of the subsidiary undertakings results for the period are given below=
Gross income
1,130
Gross expenditure
16,6341
Net1055 for the period
15,5041
Total A55ets
10,239
1120,6361
Net Assets
1110.3971
34

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
ii.
DEBTORS
Group
Charity
2021
2020
2021
2020
Accrued income
4,100
4.100
Trade debtors
Other debtors
26,707
26.707
Prepayments
6,210
19,063
6,210
19,063
Taxation and Social Security
Amount due from subsidiaiv
120,636
629.636
6,210
49,870
126,846
679.506
35

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
12.
CREDITORS.. Falling due within one year
Group
Charity
2021
2020
2021
2020
Trade creditor5
2,970
244,742
2,970
244,742
other creditors
189
288
189
288
Taxation and Social Security
Grant Payable
157,500
Deferred Income
Actruals
21,300
44,490
21,300
44.490
24,459
289.520
24.4S9
447,020
13.
PROVISONS
Group
Charity
2021
2020
2021
2020
Redundancy Pay Provision
125,686
125.686
Unspent Restricted Fund Return
1.458,764
1,458.764
Provision
Onerous Lease Provision
80,960
80,960
1.665.410
1,665,410
36

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
The provi5i0ns made in the prioT year were all released in the period under review as shown below..
Redundancy Pav
Provi510ll
Unspent Restricted Fund
Return Provision
Onerous Lease
Provi5i0n
Total Provisions
Opening Provision
Utilised in the year
Change in provision
Closing provision
125,686
1126,2301
456
1,458,764
11,454,701)
-4,063
80,960
191,7231
10,763
1,665,410
11,671,654)
6,244
14.
DEFERRED INCOME-GROUPANDCHARITY
2021
2020
Defeired income brought forward
207,800
Income deferred in the period
Released in the period
1207.8001
Deferred income carried forward
15.
FINANCIAL ASSETS AND LIABILITIES
2021
2020
Financial 3ssets measured at amortised tost
420,293
2,825,228
Financial liabilities measured at amortised cost
124A591
1289.5201
There is income of £1712020.. £1221 in respect of these finantial in5trurnent5.
37

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
16.
ANALYSIS OF NET A$S￿s OF GROUP BETWEEN FUNDS
General
Restritted
Total
funds
funds
2021
Fixed assets
Current assets
383,164
43,339
426,503
Current Liabilities
124,4S91
124,4591
358.705
43,339
402,044
COMPARATIVE
General
Restricted
Total
funds
fvnds
2020
Fixed a55ets
1,019
1.019
Current asset5
995,132
1,849,159
2,844,291
Current Liabilities
1496,1661
11,458,764)
11.954.9301
499,985
390,395
890,380
38

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
17.
GENERALFUNDS
2021
2020
As at I September
499,985
1,015,549
Movement in the period
1259,6231
1712,9091
Transfer from restricted funds
118,343
197,345
At 31 August
358.705
499,985
39

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
18.
RESTRICTED FUNDS
8alonce us Incoming Outgoing Transfers
At I September
funds
funds
2020
Balance as
At31
2021
Domestic programme funds
Be the Change-virgin
Be the Change- Queens Trust
Be the Change Virgin Sustainabilitv
Grant Initiative
Boot5
6.671
2.008
7,572
2.008
901
19011
432
19011
432
#iwill Fund I
#iwill Fund 2
Queen's Commonwealth Trust
Virgin Pa55POrt To Change
Unilever- Dove
Unilever- Persil
WE Day UK
6.400
3,014
10.389
1,693
6,400
3,014
10,389
1,693
14191
14191
13081 1119.3031
11371
1,399
118.995
11,5361
WE Villages
WE Villages- Kenya
WE Villages- India
WE Villages- Ecuador
WE Villages- Sierra Leone
WE Villages- General/others
Virgin Scholarship Trip
29.577
91.736
692
40,901
29,577
91,736
692
40.901
1,452
90.594
1.452
90.594
2.438
2.438
28.278
28.259
1201
Total funds
43 339 272 053
118 343
40

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
COMPARATIVE RESTRICTED FUNDS
Bolance us
At I September
2019
Incomlng Outgolng
funds
funds
Transfers
Balance as
At 31 August
2020
Domestic programme funds
Be the Change-virgin
Be the Change - Queens Trust
Be the Change Garfield Weston
Be the Change- Virgin Sustainabilitv
Grant Initiative
539,784
126.774
1.845
533,113
124,766
1401
6,671
2.008
11,8851
901
901
Team London School'5 Programme
28.709
288,000 316,709
Boots
#iwill Fund I
#iwill Fund 2
KPMG- WE Schoo15
Queen's Commonwealth Trust
Virgin Pa55POrt To Change
Unilever- Dove
Unilever- Persil
Youth Action Grants
WE Day UK
70,098
318,839
230.675
250,514
111,710
333,334
308,300
Iso,000
20,000
196,256
85,000
150,000
18,000
161,582
181,376
645,773
535,961
2SO,514
9,611
475,717
47,056
30,989
18,000
156,076
432
6,400
3.014
1150,0001
10.389
1,693
281,154
137,9441
118,995
458
17,5001
11,5361
WE Villages
WE Villages- Kenya
WE Villages- India
WE Villages- Ghana
WE Villages- China
WE Villages- Haiti
WE Villages- Ecuador
WE Villa8es- sierra Leone
WE Villages- Nitaiagua
WE Villages- Tanzania
WE Villages- General/Others
Virgin Scholarship Trip
Be the Change IGloball- Virgin
58.886
44.260
159
49.186
2.996
6.591
543
29.577
91.736
58.886
44,260
159
49.186
2.996
6.591
543
29.S77
91.736
692
1,452
692
1.452
6,535
3.115
6,535
3,115
274.813
98.923
692,580 876.799
4,967
75.612
90.594
28.278
90,182
90.182
Total fund5
2485940 2643186 4541386
197 345
390 395
41

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
DOMESTIC PROGRAMME FUNDS
The majority of domestic programme funds in the period under review represent monies expended towards staff
tirne costs at the beginning of the f15cal year to compensate for work completed towards the pausing of
partnerships between the Charity and its corporate and non-corporate partners, in line with the scaled back
operational rnodel. Any unspent domestic programme funds were returned to the respective partner or
repurposed for the Charity's Ereatest need. in line with partner agreements. No monies were received for
domestic programme funds during the period.
INTERNATIONAL PROGRAMME FUNDS
WE Villages
Each of the respective funds listed under this heading relateto monies specifically received towards development
of those communities identified via the WE Villages programme as explained in the Trustees report.
Virgin Scholarship Trip fund
This fund relates to grants specifically received frorn Virgin Atlantic Foundation and expended on scholarship
overseas trips. During the period the final instalment towards a pre-pandemic scholarship overseas trip was
expended.
19.
CONTROL
The Charity is ultimately controlled by the members.
20.
COMPANY STATUS
WE Charity is a company limited by guarantee. The members are liable for the debts and liabilities of
the Charity to an amount not exceeding £10 in the event of a windin8 up during membership or one
year afterwards.
21.
RELATED PARTY TRANSACTIONS
Durine the period the Charity made grants tota11inE £223,730 for internationa1 projects to WE Charity
ICanadal12020.. £628,554). WE Charity (Canada) is a registered charity in Canada that shares the same
objectives and purpose as WE Charity. They primarily administer and co-ordinate the international
proErammes which include WE Villages. As WE Charity ICanad31 closes in autumn 2021. the Charity will
act as a grant making body for WE Charity ICan3dal's successor entities WEllbeing Foundation and WE
Charity Foundation, which will assume the administration and co-ordination of the international
programmes intluding WE Villages.
WE Charity's subsidiary, We Education Limited (Company Reeistration Number.. 085265241 makes a gift
aid donation to the Charity of its taxable profit5 each year. At the end of thi5 period, there wa5 no balan
transferred due to the company's carried forward loss from previous periods.
42

FREE THE CHILDREN IUKI, TIA WE CHARITY
NOTES TO THE FINANCIALSTATEMENTS {CONTINUEDI
FOR THE 12 MONTH PERIOD ENDED 31 AUGUST 2021
At the end of the period the net liabilitie5 of WE Education Limited are £110,39812020'. £104,894), with
turnover of £1,12812020.' £535.1951 in the period and total expenditure of £6,63412020.' £523,168).
Audited account5 for WE Education Lirnited can be obtained fiorn the addre55 noted on page 2.
The Trustees made donations of £40.￿0 to the Charity during the period12020= £685.0001.
43