FARA FOUNDATION (A COMPANY LIIIIITED BY GUARANTEE) CONSOUDATEO ANNUAL REPORT & AUDrtED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 PIwK¥61 oifKe.. 2nd Fb)or Sijrte. 1 8 Watdegreve Road Tedaingion Englafv TW11 8GT T81.. ￿2089 73J910 Vkbsrte". vA*w.FAJWh8rity.¢xg R￿Istered Charity No 1139349 Re9LStered c￿lp¥nY No. 07432706 FARA FOUNDATION IUMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS for Year Efx*d 31 D8ceFntxr 2024 Page Trustees, Annual Rep(¥t (Irworatmg the SiraWK R and Dire￿, Raporti 11013 Réport ol the IrTrthpeThJent A￿110 14to16 Con601idatod stst￿nt ol Fina￿lat 17 Con801idated Balance Sheet 18 Group Gash Fluw SlateN*nl 19 NOl¢S 10 U￿ Con50kdaied FNwncwi stsieAnents 201032 FAFL4 FOUNDATIOPI IUMITED BY GUARANTEE) TRUSTEES. ANNUAL REPORT In6wporallng thg S¢raleglG fteport and Dlrec¢ors' fteport iorthe Year Enlled 31 December 2024 INCORPORATION The charitsble company was incorporated on 8 Novwnber2010. REFERENCE AND ADMINISTRATIVF DETAILS ReglSterÈd Company numbar 07432706 (England and WaJ8sI Registered Charlty numbgr 1139349 gistered offic• 2n4Y Floor Suite 1 8 Waldegravè Road Teddinglon EnolAnd TW118GT Key Managernent PersorTrn Trustees (Diiectorsl M5 S G Cross- Chair Mt5 L J Da￿?￿n MrRHCChalk Mr P WGrovès Mi R Davidson- Treasurèr Mrs N Nowak Mrs E H A Middleton Mr R Lynès l•ppointed 25.03.24) Dr Y S H JohnÈon lappointcd 2S.03.241 s K Higgins lappoinled 14.06.241 Compaiiy S¥swEt6ry and Chlet Operaiing omcer Icooi Mr R Phela Chiel ExKutive Officer ICEOI Ms E Gordon Administrator Ms J 8iJgdpn Royal Patron HIS Majesty Ktng Charles 111 S*nror Managers ol FAIIA EwrtefPriSg5 Limlted DirectOWS Mr R Phelan- Ch*f Owating olfi￿r aNJ Cornpany Seuetsry Mrs L J Dawson Mr P WGroves Ms E H A Middlelon Mr R Damdson lappointe<$ 08.07.241 M5 E Gordon lapp(Nnted 08.07.241 Senior Planager5 Ot FARA Propertles Limited (Disgthd 26.11.241 Olre¢tor5 Mr R Phelan (Director and Cunpany Sect8lary} MwRHCChalk Page 1 FARA FOUNDATr)N {LIMITED BY GUAIIANTEEI TRUSTEES. ANNUAL REPORT Inco￿VaIlr& the Str*ogic Report aThl Dlrectots. Report for tho Ythv EThlftd 31 D*c•m￿r 2024 Bank$ 8#rtlay8 8¢rAt PLC santar￿er UK PLC Flagstone Group Ltd Sollcltors and legal advlsor5 Just Empk)yment Law- Empk*ym8nt Field Seymour Parte5- Prcyerty Broadfièld Law LLP- UK Charity Law So1￿110[s MPR Partn&r$-Romanian Law ￿￿¥sOrS Shield Safety_ Health & Safety Auditofs Rolhrnans Audit LLP Slats*lory Auditor¥ Chartered AcGounianl& Chih¥orth Point 1 Chi￿0(￿ Road Soumampion $016 7JQ STATEMENT OF TRUSTEES RESPONSIBILITIES Ttte Trustees Iwho arè also Ihe of FAKI Foundation (Limited by Guarankel for puiposes ol company lawl are responsib￿ lor preparing the Report of the TTVSteè5 and tl* financial statements In accordance wilh applicable law and United Kingdom Accounling S&ThJards lilnited Kingdom Genoraly Accpptgd Ateoiintiry prac1￿1, indiiAing Fmxnc.iAI Rp.phrhno Qlandsrd 102'The Finan&81 Reporting Standard AFPIKSb￿ in th* UK ond R•publie of IT•land'. Company law requtres Ihe Trustees to prepare financial statements foreach finana81 ye8r which give 8 trut 8nd fair view ol the State of affaits of the charitabk cotnpany ¢ind I1￿ giDUP. ¢iiid of Ili¥ iiiwrriiiw ¢iiBJ Éiwliilttiw of resour￿5, inGludin9 Ihe income an¢J expenaiwre, oi ine ¢nartTar*k grLwp ty Inat pefioa. In preparlTrJ Ihose flnancial 51arernenis, Ihe TtU5t¢Es ale required to'.- Select Suitab￿ accounb"NJ &)d then apply ¢￿￿ls18n1ly', ObseNe rnethods and princip￿ In Ihe Charity SORP". Make iudgÈffleftts and Èslmales that are reasonable and prudent State vjhelhèr applicab￿ LIK Ac(oiJnbng.%t#nr13rd* hxvp. hpp.n %iJhiAcI tn w material departurèg disclosgd and Ox￿*1￿¥d in lh• financial stai•m•nts." and Prepare the financial 6tatemenl6 thg gOiTr9 concèrn unl86s it is inappropriat• to pr•¥um• th*t th• ch*ritab mpany will continue in bu51rEsS. Thp TTU51Ee5 ale resPgnsthlE lot k¥¥pirry yruFJUI Éir6mirb"rry iettyds Yihth ￿*S¢￿t wtth rpas¢)t*atAt acGuraGy at any time Ihe flnancial posilion of the charitaty￿ cornpany and lo ellab￿ Ihetn tD eTr3ure that the slalen*nts wmply with the Gompani&s Act 20(￿ and Ihe Charilies Aci 2011. They are atso ￿POnSibleft)rsafvgu8[d1￿J thè assets ofthecharilabk ￿MpanY and hènce for taking rèasonable steps for Ihe prevent￿)n ano detecbon of tra￿1 and olhÈr Irregulallties. In so far as the Tnjstees a￿ aware.. the￿ ps no re￿Vant audit Wrfo￿atKyn ofwhth Ihe charrtable c(￿1pan￿$ auditors are wwiare., and the Trust•8$ have taken all step$ that Ihey cwhl io have takÈn lo makè ihwnsefvos aware ol any relevant audil information and lo establish Ihal the audrtors are aware of that inloTmatvJn. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So fai 35 the TIu8iees are aware. there K5 no re6evant information las defined by secb.on 418 of the Compan￿9 A¢1 2￿) which Ihe challtable company s Budiiots a￿ utwwaie. and each Trustee has taken al ts Steps that Ihey ovghl to have taken as a Trustee In or(Jer to make awarè ol any audrt Infom)abon and to e5￿tI￿h that the charitabb ¢offlpany s auditws are awaie of that iTrfonnation. Page 2 FARA FOUN()ATION {UMITED BY OVAIIANTEe) TRUSTEES. ANNUAL I¢EPORT Inrorporatlry Report and Oirector5' Report for the Year Ended 31 December 2024 PUBLIC BENEFIT 7he Board of Trtjstees has gNen regard lo thè lÈgislatNe and r(¥Julatory wul￿ents lor d&¢kxing how its eh#ritable ¢*e¢tiveg have provided tonèfit ts the p￿￿1￿. Thg. Trugt@•s eonfim that thèy ha￿ compliod with their duty under the Chantses Ad 2011 lo havè due r￿ard ttt the publit benefit guidan¢g publishod by th¢ Chanty Commi39ion in doterrnining the adivibe6 uiidtritdken ty the charity. This lèport ouUThs how our achI￿rne￿ts during 2024 have benefiied the publ￿. either direcuy or irYJi1gclty. BEHALF OF THE BOARD" Ms S G Cross- Trustee Date". Pagg 3 FARA FOUNDATION (LIMITED SY SUARANTEEI TRUSTEES. ANNUAL REPORT Incorporatlrmj th• Stratsglc R•port and Dlrncttxs, R•p(xt tor Y•ar Ended 31 2024 Stalem•nt from th• ehalr and Chhf Ex•cutlv• are pleasèd to introd￿￿ the FARA Founda1￿ 2024 annual report The ChaI￿nge5 faced by Vulnerab￿ populai*)n6 in Romania remain sigrtrftant. European ull￿n statsbtt eontsnrje to shcw that Romania has Ihe h￿h0$t rat& of chikI￿n al risk of poverty or so¢pal exdusion in the EU. at41.5%. Thig undefscores Ihe vital WnPortan￿ ol our partner Fundapa FARA'5 Wofk Romania. ViÈ are Pfoud to ￿pOrt that in 2024. th8 pfogramm•s of Fundalia FAFiA-_ rèadwd than 1.8(K> beneficiaries. This rewe5en15 an 4Truease in the number of peopk diwedty supported ¢ornparad lo 2023. Fundats'a FARA'5 th￿t Therapy and Rehabrfilalion programmes work&1 wlh rn0￿ than 250 children wlth disabilitt2s and their families to provide I￿è and vital therap￿$ to help the chikltell OveTcor￿e the limitabons of their disability and facilitate inclusion Into mainstream educabon. The Tacklirg Poverty ThrothJh E¢jucat￿n progrnmmes worke(J with more than 280 disadvanlagEd or maryinali$*d primary, secondary and h￿h school $lLKJènts, prowding educational support and otherwrap-around supporL all aimed at preventing sthool dr¢w)ut. fightir4J FKJvety and prornoD"ng socMI inclusKJn. ATrJ Iher QSKlentkql and outreach programmes for adults wilh disabili1￿$ DfovKliThJ supwt for 82 pecde. ￿lping th*m to gain independenc8 aTvJ Ive their lives in It is hugely in8pirats.onal to s•¢ how effedive and impacifvl tl* pmgfammes we ftjnd are. One ol thè Ihirys Ihat 8hvays strikès us when we viGIt thg pfo9Tarntno6 Is just how much joy t￿￿4 is wilhift th￿. As orse of the spec+3lisk wfvj worts within th adults with di38bility programme5 Commented.. 'knpact i8 measurEd in small steps. Ihrotyjh seemingly miftor ac*wt￿$ that tho$& Wlill U¥SdUIIIU¥è UV IVI Ul¥ 11101 iiItI¥. j IlWObUi% m11va￿L Uy lisr wy This year saw a signrficant take place wlihiTr the Fundalia FARA prograrTwne5. St NKolas Ch￿d￿n,5 hotne. which marked the beginnirKJ of FARA as we know il today. dosed rts doots at Ihe end 012024 aftÈr 27 ￿arS of activfty. Opened in 1997. St Nicolas was FARA'$ first reswjenlial care faolity and oth.al programme. AongshJe its sisier home. St Gabne1s11991￿2019I. 78 hikjren weie provkled wrth a lamily. and Ihe love generated Ihrouqh this programme continues lo resonate an¢J extena Into me wider ￿MMUnty. ennching many liwds. Since Sl Nicdas and Sl GafM*l's opened. Romanian soc*ty has Changed s￿n￿￿n￿y. The devdopment of foster Care ser¥Ke5 ha5 reduced the need loi reshlenlial hunes lor ¢hildren and swrtched the focvs to ¢ommufity wort. Though St N￿0189 Bnd St Wri@I'$ havp. now r.hqg.rf th@ir li￿S on in thÈ lives they touched and the hopa thèy brought lo 60 many, tho$9 homès off•r•d a trl￿ famity enwroh￿AI whère chiwren werp lok*d. rAr8d for. educAtÈd. SUPP0rt¢d and eneoufa9cd to 4vuccEed in life. Tli* l)as nol beefk withoul ¢ts Ghaknges. In 2024. we continwd to navwJate economic pressu￿¥ in the UK and in Romania, and we are gialpfvl fDT thE ITfEk55 lUtIlTriitsiiwrl drnl pidvJsionalism of our staff On thtr UK Shk. our retjil ¢p¥ration8. compnsing 4u snops In 26 neunbourhooas across Lonaon. remalne¢J a wial sour￿ of lunding. Bec6u5E of Viib, we liave continued lo Invest time and ettort Into sireigThning tne iethil aThy ￿1ft9 profile ofovr sh¢Jp5 a5 a (g￿ part of Qui wider strategy. We continue lo focus on the (tINery of our three key slratwc thechves from our 2024- 2026 strategy. 11 Programmog. W8 wll support Ilk4. FLind3liA FARA prrorammes to dèlNèr of the hiohest quality to ￿1p the most vulnerable chitdren, young peop￿, adutts and farn11￿$ in Romania. developing our partnership to ensure it is ellective. professional and suslainable and enables them to imp*menl Iheirthree-year strategic plan. 21 Public en9agemenl. INe w￿¥ con501idJte and grow the contrknutK*ns frtyn our retail r¥Jeration to ensure ts G¢ntinuod success and resilience, whik al$0 IwkAry lo ¢JiVe￿ify our Jn¢(¥r* base by i￿[eas￿9 our public profile and communty engagement. 31 People". Vve will culbvate a thriving and pr)Jucbva wortforce supwted by ded￿aled 3fKI profess￿￿81 govemance. uniled under shared values. vision and miss*)n. This year, rt has been a p[eaSU￿ to conts'nue working atONJsbJe our hathorking leadership team and Board of Tru51ees. And we remain hugely gratelul to the generosity of those shop in arKI donate goods io Ouf Stores. t*>naie financially, and raise funds for us- you eft￿le us to be ab￿ to lund the excelent programmes that make ￿al char￿e happen formAny of Romania's most vulnerable. Siobhan cross. Chair of th8 Board of Tntstets, FARA FWnd3trO￿ and Lfjbby Gordon. Chi•f Ex•cutivè. FARA Foundatlon Page 4 FARA FOUNDATION (UMITED BY OUARANTEE} TRUSTEES. ANNUAL REPOR T Incorp)raung the svaregi¢ Report and Directors. Report forthe Year En(kd 31 O•¢ember 2024 STRATEGIC REPORT WHO WE ARE AND OUR OBJECTIVES The FARA FouTrYation (FAK4 UK) is 4 regL$re￿d charity In Ihe UK aThJ was lounded in 1991 in orderto pr0vxle-rel￿fo1 suffering of those children and adults in Romania a￿ liwng in p￿lty tsi rnarglnaI￿d or who have disabilits'es. and this is done in a number of ways Ihrough our partsr Fundatia FARA tndwyiry providing community based care to th￿e living in povèrty with a focus on educabon for childieTh. the prowsion of social suF¥)ort for chiklren and adutts with ¢JJmplex needs and disabilits'es lin day Centers. outreach pr¢>Jrams and supported ti￿1￿9 acL*mmodation} and advocates for social and èconomi¢ inclusion of disadvantaged chldren and adulls. In ordor lo d81iver on our charitable oty"eclives FARA UK makes g¥ants to FundaP"a FARA a non-profit. noTrgoveirYnental organisation supporling RomaTria's pooresl and most vulnerable chiklren, young pEoWe afKI lamiltes. FARA and Fundalia FAR4 work toward common Values, strategies and siaThJarfs. FundaP"a FAFA'S work is dosety monrtorèd and evaluated, with appropriate poliues iii 4nd tE5ults reponed. The FARA Pannersnip cornpnses Pun¢Japa FAIN Romanja (gfanteel FAIiA UK Igrantorl. fr>rmalised thrnugh a MemoTandurn ol Un¢ersian(tin9 1 Parinefshp Agree￿￿nt. Athough independent of each other, Ihese organtsai￿nS work to fulfil a sha￿d vision, mission, and set of values and are governed by separate boards wrth definèd remits and respon5Q)ilitie5. Each boarfl 1$ responsible for im￿e￿nti￿j tts slrate9SC Ot4ethe5. In 2024 FARA UK remitted f￿ndS to Fund4A FARA gveryquartÈr based on an approv•d annual grant. providing 96% ofthc fund5 fequiréd by Fundapa FARA in 2024 to deliver the corg sèNios in the progrnnwnes. Fundava FARA raised the remaining 4% in Romania. while also raising fund8 lo provhde additional over and above the CO￿ services. The wort delivered under the annual grant enables Fundalia FARA lo ptovije support for some ol r the m05t vulnerabfe social 9foupN3 focing exlreme povcrty by èddressii¥3 59G￿l I￿lUsIo[l t)iJd ptjverly rE(tucliDfi. opeiats.tw In Mo regions oi Rcmania. 11 futtils lives, builds thJlur6s ar￿ Sp￿ad& Iwpv. Tli¥ work ￿ th"lfri*wwJing for many tsmi11gS IMrvJ in [￿Verty aThJ tor chihlien and adults with disabilili*¥. Vision, Mission and Value$ Our vK5ign Is of a wotsj in wnicn everyone Iw wilh Iteedixn and dwnty in a toving. wole¢b¥e environment, experienanq rU￿111e1j lives Wha￿Ver their t￿lIty. Our mi33ion 18 to traAsfomi the INes of the m051 vvlnerable di5advanta9¢d ￿h1￿)re0. young pecfjle. adults and families living in Romania'6 p¢)otest conimuiii1￿b. Our vglues underpin all th• ￿1rk and art £hared by all lh0￿C invoNEd in cerryin9 Out aur Mi￿1¢n both in the UK and Roiiiaiiiil. FAPA 8lriv88 to build a just so¢￿ty s¢Thing the Gommon 9ood. based ors Chllsb"4ll vatues ol love, jubts.￿. ijvjnily and respeci welcorning people of all foith¥ and no￿. Vve act with kinrlng&* and compas$ion. rÈsp@ct the human of gvory porÈon. We beli￿• in practtcal hands-on care. We slrive to buihy a just society. We ￿SponSIblY collaborate across all 5ectK)ns ol society. We stiive lo be a be51-praclKe organTrsab"on. STRUCTURE, GOVERNANCE AND MANAGEMENT FARA UK is governed by a Board of Trustees. who ao Ipgally respo￿lb￿ for dtredng the affairs of Ihe charity. The Trustee5 have lull legal responsibility for the actions of Ihe orgaTri5ab'on. The 8oariJ tsf Trustees meets at least thieg Ivne5 annually to rewew and direct Strategy. budget and perforwnance. FARA UK has three main boaril $ubccrfnrnittees. whth aim lo ensure Ihat FARA and all its subsKliary entities in UK a property governed and that the fun(ts remrtted to Fu[￿a￿a FARA a￿ spenl approprtatety. They meet in advance ofand reporl on ltt&r proceeding$ lo the full board. Eath subcG¥nmittaè has a separate ￿Mil . SeNKe$ ￿tycOM￿￿e- forHR qo¥ema7ce. sts8lFty& OV8fsthlof swices delve￿￿￿ Romanr8 (Chair Lucind8 D8W￿rt) Trading Subcommdiee- Ye5poftsible lorcbanty Rtartmauers and m8rt(eling & commun1cat￿1$. Ichair Hannah Mthtonl - FJn8nce & Risk Subcommrfle&- forallfiRan¢& and nsk malters (Cham. Robert D*￿) with￿ Ihjs also shs an thveslmwl Commillve 1hatfftl￿S lhem￿sIrtwtP￿rtIoh0 (Chardtsmp 202dy." Nalalia Nwkj In addition, there is a Remunerabon Committee which meets annualty and 15 responsblè fot ieviewing the annual increases for all staff and overall pay r*rinaples. 8fid provxling recommend8b.orbs to the board and A Prty_ty commit￿ whtch approv•s n•w and renewing propety leases. Pagè S FARA FOUNDATION ILIMWTED BY GUAI(ANTEEI TRUSTEES. ANNUAL REPORT Inc￿￿tIng the Strntsdc R•DQrt and Dlrectors. Report lor thè Yoar 31 1)•c•mb•r Xl24 FAPA UK was Inc0￿•reted 8& a Gompany IN￿11¢d by guarantee. 46 defifi￿ by tha Cow4oanvas Ad 20￿. on Nov•mbor 8, 2010. n¢J is gQV*tntd by its Artides ofA35oua￿0n. The h4tid¢$ olAsaocialion were ￿#t¢1 th Klarch 2024 to ensure they aro approprialE and fil fur puipobE. t￿￿￿9 the year. the chanty had wholly S￿>8#￿a￿s. FARA Ente￿rISe Lunitgd IFELI upetates a relw'l ¢harty business thal donated all of ts profits lo Fundatra FAPA This comprises 40 huh st￿1 Stores." 22 general stores, 14 children's store5. two bookstores. a hCrfnewa￿ store and a Vintage store. In addl￿On. rt ha5 an Onli￿ store selling Items suitablè for sale online. Four members ol thè Boa￿ of Trustees sit C￿ the l)oard of FARA Enterprises ￿Mrted wilh the Ch*f Exe£utwe Offi(*r and Chief Operating OffI￿r I Company sè¢￿ary ol FARA FARA Propert￿$ L Thited IFPLI was a piowty hokliry company. It di5P)50d of all its pryty hoklings du￿r￿j ￿ course of 2023 and was dissow on 26.11.24. Appointment of Trustees The appoinltnent of Truslees is ¢)ullined in the Arlides of Association and foll*Ms the a0￿￿e of the Charity Commission. The Arfides ofAssocialion were updated in March 21r24 to support and simplify the process around the appoinlmenl, retirement and removal of Trustees and lo brvig il into line with the Charities Ad 2011. All new Tmstees are pul through an indudion and training programme to ensure they understand their role, how the organisation runs. and rts vision, mission. and ¥a￿e5. They wll spend lime wilh the Chaw of Tiust99s and the CEO and meet key executive members lo under5t8nd how the charity operates. They will be a rwlember of at least one of the siibcommitte.es. They will also be expected to visil the proorammes in Romania when the opportunity anses so they understand how tho lunds rais￿ ar• tjiilisod. Public bonÈfit The FARA UK Trustees confimi ihalthey m¢#t tha ChantiosAct 2011 pub￿¢bOA&￿t r•quiroment. FARA ￿lfil5 thi* by grantfundi to FuTrdatr'a fAfw for th¢ wlief ol poyerty, the improvemvnl of the INV. of people with ¢J*abitsb•È, and its pro9iamm• to ta¢kl• vvveily UIiuugh tr￿ educa[￿J￿ of 5th(XA*￿ Ghldren. The progfammes and work •re further ouNined bel¢)W. Executive leadership Libby Gold<￿ has wntsnued as ch￿ ExecutNe Of1￿ FARA Foundation, and she. akng with the executive leadership fram, ha5 d@l@oated 8iithority fnf nJnAing thg tharity and tradiTrJ ami. wotkino Wlthin a boar&aDtbroved scheme ol delegations. The organi￿allon,s dioetsr roJ&8 indudè Chief Op•rab"r¥J 0￿*•r. Trading Director, Mark@ling CommunirJlion4 r)ir*.r.tnr De¥eloprnent arKI External ETrJag*nent ￿'reGIOr. and HUM￿ Reswr¢es D1￿ctor allworkin9 eolkcbvdy lo icod the orgtsniÈation. Equal Opportunttles Policy FARA UK does not discriminale on Ihe b&sis ol age. dts￿dity, reassp]r¥ren( marital or a¥il partner slalus. prBgnancy Of matemity. fa￿. ¢okJur. r5ationality. èlhntity or rhational orwjin. reh9iDn or bel*l. sex or sexual oiientation. Romuneration Policy Our approach to remuneratson Is des19r￿d to eftSU￿ thatwe aitract an(1 retain staff anrl maintain affNdability. Pay principks and barsding were developed and rolled out in 2022 lo ensure faimess and consistency, and roles ap formally benchmarked every yeafs. The Remureratson Committee oversees a￿a on beh#lf tsfthe board. Page 6 FARA FOUNDATIQN {UMITEIJ BY GUARANTEE} TRUSTEES, ANNUAL REPORT Incorporatlffj the Slrntegic Rel￿rt and Dlredors, Report for the Yèar Ended 31 D&tÉmbÈr 202d ACHIEVEMENTS AND PERFORMANCE Romani8 is home to nearly four tninioFi ¥liiklEn bul. unforttJriareN. many of Ihem a￿ sifli sirug9ling with povety. inauequale educath)n and a laik vf Inedical setvKe5. hjlhougn the e¢0￿)mY ￿ growing. ihe country stsll ra￿S vamus challenges, and ITidriy p¥oplE find 11 haro ￿ make eTrJs ffl￿. Despite some progrèss, Romania still has a long way to go in term5 of provi(Jing support lo vulnerable sooal groups. Povety fates rernain hHJh compared to count￿$ wrth sroilar irKome lèvfjts and inequality conts.nues lo t* stubbomty hi9h (Worfil Bank 20241. Romania has the highest $hare of its populab.on at iisk of poverty or social exdusion in the European Uniors (Euroslal 20231, including approximately 1.5 mtifion thildren141.S% of overall) at iisk. N¥ic8 as high as the EU averagè (Euro¢￿￿1 2021). Romankg's muth"dimer￿lonaJ risk-of-povety-or40cial exclusion iale sits at 32.0% which Is the lowest in the EU (this measu￿$ the percentage of hou5ehoJds in a ￿unIty depllved alon9 lh￿ dirnension3 -monetary poverty. edUCat￿n, and basic infrastrucbjre servtss- to capttsre a more complete pthre of poverty) (Eurosl&t 2023) Familiès liviry in poverty ollen ladt the necessary Support, kaviThJ ch￿d￿n at risk of dropping out of school or being placed In soc¢al egrvi¢e pro47sion. In Romania 75. 7% ofo*thn agvo overuiret Miet¥tyUKUIKKKle(AAca&on whlch Is weiibeiowffte EU aver69¢ 0194.6% (Euwtet2023). MTJi¥ Vidn 3(K),ODJ chiklren ¢Jo nol comtyeie compuL%Ory eaucaiion. and nearty SO.￿ do ntsl have ba51¢ literacy and numeracy 5ki115 at the tye 0115 fUNICEF 2022) Leaving school earty can aLso lead to unemployment. Sg¢ial exclusion and povety. Romania has the highest Tale ol earfy school leavers within the EU. with this figute 51tting at 10.a% compareo TO an average of Y.li% Ituroslal 3023J.The level olba$i¢ ski115 among young Romanians is low. wlh consequences for compel*li¥eness. employrnenl and innovation potential In the ¢ountry. Siudents are underachieving in malhs, reading and $riences, at rates that are among the hwhest in thè EU and 5ignificanlly abo¥e Ihe EU averag (European Cornmission. 20243. Children wiu) disabili1￿ arn una)le to acte￿ wlal I￿￿ar¥JIng Ihordyes and educab"on, and advtts wrth leaming disabilitie5 also remain in inqtihifvnnal Care. All this further *Xat•￿atK tho Cydè of povety. It is known that p¢ople with disabilili6*.4 arp. morè lik@ly to gxperi•nc• PC+vwty or Social 9x￿￿10￿. In Romania alonc. there are more than 77,OCQ chikI￿n re9iSt@red wilh disabiliti9s. but thiB numbèr IÈ bel￿VCd lo b¢ an underestimate as rnany indiwduals remain unseeii. Addition8lly, the￿ are reportedly over 16.000 adu#s wrth disabilrt*s li￿llg in soual ¢are re5idenkn.al ￿ntre5 under the soc$81 preteLlion Systern (Wortd Llank 20231. The dtsÉiiHlily ¥iTiyk)yrnenl 9ap sits ar 44.8% Ine nignesi In ihe EU ana signiticanty higher than the EU a¥e+rJy¥ UI 24% (Euioslai 20241 Feowe Wlih disabihDes fac￿9 svJnfftcanl to educats'on, etnployiiieiil. h¢allhcarE. espec*alty in rural areas IDisaoAlIty" In 20241. Fundatia FARA Services in Romania Fundal+x FARA. whogo programmos ¥￿[9 lund8d by FARA UK durin9 2024. rs an experienced care provtder in Romania. It supports Vulnerab￿ children with or without disabilib"¢s. young people, peopk Mth disab11￿.eE+ and their faiiiili¥t• ib dl the cole 01 FAPA'G mi66ion. Thcirneeds. ¢hallen9es. and future drive the organ￿O￿On'5 nio¢Jel ufirtipact. To 5UPPQrt the worK inai Funoapa FARA ￿rrIe0 out In 20Z4. FARA UK approved a nel b￿et of Lei 15.111,224 Istq E2,708,1051 In De￿Mber Z02 lo fund CO￿ programmes in Romania for 2024. mdrth?na1￿. il apDroved funding a development t*utsary programrne of Lei 150,000 {Slg £26,882). These funtjs were then remitted under an annual grant funding arFAng>mg.nt and a memorandum of understanding I partnèrship agreement 1$ ill plKe to prowde gvhlance. In 2￿24, Fundalki FARA served more Ihan 1.800 Eenefiuar*s demonslrated strong prr*Jrammatrc achievèments, exceeding targets. èxpanding senriee$ and Iwng thè gMLXMhv￿k for th)bnued ￿pact in thè year5 ahead. Thèy dtd IhK8 through their Gofe programmes. HOMES FOR LIFE AND OUTREACH" Providing sale accommc*Jation in a famity type ¢nvironment, Psychosocial 8$sistan￿. non-fe￿￿1 educatlon. soctalYLath"on for •Jults with di8abilib"e5 and working in the community 5upporbng people with di8abilib.es and Iheirfamilies. THERAPY ANO REHABILITATION. Supportin9 chiklren with di$JblitEs and theirparenls ￿ the therapeutic process. Htlpirg professionals to WO￿ better vAlh Ihese chikjren a￿j support Ih•r social indu$ion. TACKLING POVERTY THROUGH EDUCATION." Providing eilucatsonal 5UPPQrt. notFforrnal learning QPPOrtunilies, psyelio$ocial and material support. and sooal inctLA5ton a¢ti¥ibes fof disajvantaw andlor margtsTralrLed ¢hiWren, Iheir family membets and olher professionals. EDUCATIO￿ BLIRSARIES.. Offoring fin8nc4BI assrtstsn￿ and other support to help leeiia9er& willi t¥lurali0￿aI rfonnance and achievement. A FAMILY FOR TrIOSE WITHOUT.. PThTding residerKe. psychosocial a$sistsnce, non-kjrmal educauon and socialization In a lamily-type h￿Ie. SL Nicolas. in Su¢eava, for children an¢J young Pèop￿ from the protection system. laGking parental and famity support and cafe_ SOLIDAfiiTY WITI I TI IE UKRAINIAN REFUGEES. Furithilia FARA Gtpaterj Ihe Soiioallty Team ror Ukraine In zo2Z to piovide accommtylalw)n. e5senlial material $￿pport and p5ychologi¢al asw9tsn￿ to thè Ukrainian refvgee farnilies. Page 7 FARA FOUNDATION ILlhllTED BY GUARANTEE) TRUSTEES. ANNUAL REPORT InewratibYJ Strawie RopNt and DIrtt0￿. Rèptsrt forthp Year Ended 31 DO¢•￿bar 2024 Lookin9 fotward into 2025. FAR4 UK will lo fvnd Fundab"a FARAS work which ￿11 have a foGu5 on streNgthttning 011 ole area5 of IhelrwDrk. Vvhile a180 a￿lTr9 to Inc￿58 bEtLefici*lly paitic4paliwi. erilldrl￿ Ui¥ii vi¥ibility U11￿9h iii)proved ornmunicanon effons. ONersity partnerships, and conll.nue attvocaiing for vulneraDk populavons. Thgrapy and R¢hJbrlitstion Fundats'8 FARA provide(I f￿ a¢￿86 to a rarge of therapies for mo¥e than 250 th"Idren with dtsabilib88 from low4ncome familie5 andloTfamil￿s affected by poverty at iheir th￿e centres." Rafael in Bu¢hares( Emmanuel in Suceava., and St Teresa's in Falli¢eni. Su￿3Va Couftty. Thase indude speech and psycholr*3i￿l ITeatr￿nt. physiotherapy, and creabve therapies Isuch a5 art therapy. sellsory. animakassisted thoiapy, hydrotherapyl. work carr*d out acmss all of these alms to help the children overccffle the limitatK)ns of Iheirdtsabilty. facth.late indusion in mainstream &YUCat￿n. and Imprw their functionality al hom8, sthod, aThJ in Iheir comrnunty. In 2024. more than 18.000 Iherapy sessh)r6 Y￿e carrEd out across Ihese centres and new lor this year within Ihis prourarnrnè was tha piloling of rÈgpilè tamps. Three resprte tamps We￿ organized for 30 ¢hik*en and 29 parents, whèr* lh￿ had an opportunity lo learn. inlerad with peers, volunteers and profe55ion815. rest knd have fun in a famity-type enwfonmenl outside of their home5, surrounded ty brealhlakin9 nature. Lessons ￿orned from pAobn9 Ih¢ao camps showed that inrwation in ther8Py 15 nccdcd to CXPOTh¥C Chi￿ren and paienls lo fom)81 and infonnal social irÈteTactions that have a lasting impacl a￿1 InC￿aSe th•rfeelin95 of elon9ing ￿ a wpptsru￿ cornmunny. Worf( focused on helping parents lo contin￿ Iherapy at h(￿e. wilh s￿¢￿C aclivit￿S organized invofving family members and professionats to enhance their und$rstandirKJ ol chikJ￿￿ s dsabilit￿. their pace of developnen( and pathways for rehabilitation. ThA pAr&nts arp. kiJg&tyf Apprprialive of Ihe hekj they fmrn thè prnOr￿me. as Ihe feed￿ beknv indieates. °SMJc8 ¢¢>rnirg Eo Ihis centr•. Ih•r• hevg b•wi signfft¥nteh*>ges:" he ￿$rted lo w8lk. lo IAlk Hg only$a￿'M*ma41￿ts, 4nA then hc slort¢d to sayolher ¥￿Id$ and fom? ¥enl?nco$. bul Only￿￿&￿tIY. Alow go to knrkryartgn. wy kJvin9, h8PPy to Gome lo Ihe G¢ntre." 8ornelimes he ¢fies forreeJon3 kno5￿ onty eo bul Ik[￿Whe ts alwa￿ hoppy to ￿rne hertr." "Me i5 now ski115, ¢illvrJ(K¥i. ¢i￿1vdIR}r[tsw. H¥ inuch iiKwe wime, l)e OGc8pts &taynw in one p14 ion9er ne is more comwiant wrtn iasKS. TIte￿ s been progress In Ihls Ipgard. Hg is chg8rfulin the ThunFiiig WI￿1• I bfiiw lllrii Homes for Life and Outreach This programme has fv40 compor¥ents" ￿dents.31 arml 1X)rM)k￿rtY ￿Jtreach.11 is inplemented in SLKeava County in eommunili&%s. at St Mary's In V￿U PAok*Jw al C85a ￿￿"Zabe￿ in CatYfA anrf in Pfip&shl&ordoni. Bucharest Residenlial." The aim 0¢ this is to ¢￿ale a Iwn9 and Support￿ famity li18 for 19 adulls wilh disabilities who have a history of institLttionalisab"ofi. are permanentty deprived of familycare and hB¥e a dksability requiring SVPPOrt over their lrfelimes. tt provides ong￿Th9 5UPPQrtforthe Indiv￿ual5 INing ITr these fK¥nes. induthrt9 speaalwl healthcarp, psycwical couwllir4J and emot￿￿1 supp(xt. aThJ ubative aThJ l&"sure actsw￿$ Community.. This work airns lo reduce barriers and foslei soual Indusic￿ for 63 adults with disabilit￿& wholsve with thèir farniliès In Vadu Moklovei aThY Caci¢a. through sock81 inieractions. non-fotmal education, and community awareness. ThLS Sitpport induded holding sessions on iTrlependent liwng. occupab.onal Iherapy and pfo¥KJing food ar￿ othei stems lo $upwrt daily life. At the core of these 5ervKes ￿ Pfo¥iding ongoing Quality and indiwdual support I8￿0￿d 10 spe¢ffi¢ needs of adulls Wlth disabilities io help them de￿Ic￿ thwr autonorny and the ability lo rnsponsibty budd an independent life in more indusiva commUfti￿9. For more Ihan 13 years Furksava FARA ha5 beèn activety involved in the ￿0Very and deinstitutsonalr£ation of adults wrth disabl￿ties. Effort5 have frKused on dÈvÈl¢ping tailorèd support seNw. provhjing welcoming hornÈs lor those witlk)Ut familN8s. and slrèngth•ning cawivets. A $ynrficant aspect of theirwNk ha5 been advocating for the rights of people wilh disabilities, promotin9 their parbcipation in society ar￿ Iheii ablity lo Inrt acbve. ind8pendÈnl live5. Through their approach to workin9 With indiwduals with disabilities, they have gained valuable insvJhts into their r￿d$ and potentsal. They have used these experiefft5 to create a m¢yJd of bo61 praGbGes ITr th• cornrnunity, pa[brAJ￿lY through d¢)8e ¢ollaborations with local authorities. This pro9ramrn6 has a swJfithcant impad 00 the INes ol peopte wilh disabililies. A key part of this woth and prograrnrne 18 inlitsducirg these adults to a varEty of ueative ￿tIVit￿6. drawin9. C￿£￿ring, and gpoup dk%ussions to ¢nGoura9e 3elf- expression. Page 8 FARA FOUNDATION (LIMITED BY"GUAItANTEEI TRUSTEES. ANNUAL REPORT Incorporatjrg the Strateglc Report and Dir•ctors' R•port lor th¢ Yoar Ended 31 December 2024 After a Therapy in Natu￿ session. one of the ￿ults sa¥J". 7pa1ntedsometl￿Q beautiful in n8lur&. It W88 fjke I was PK8$80. 1 hkedil.. c￿er the course of thè year. we had ex1￿￿"0n$ InvothThJ 19 adult5 wilh disabtlths. where they ILad an opportunity to •xPtibit Ihèirhalld4￿ade work and dernonslrate their$pecsal talents. The èN*nts w8r8 well attended by ¢¢¥nrnunity, helping to break barrier5 and build an understanding about disabilty. One ofthe specialists wothiffj at Sf Mary's sak1"."We ofier t￿5{ kw, har￿￿y. balanGe. e￿￿t￿n81 8VPPOrt, safety." fof a true lamilytogglh8r ￿1h Ihwn... Reflectr"ng on the prograrnme. a local priest in Vadv Moldovei cornmented. .1 know woll andclosaly Ihè work the 18dies frc¥n FARA do. Ihave the hi9hestt9ppreeiAtion. l atso know the benefia"ari8s. Th&y a￿ lowed, well18ken c8rE of, and18ck MIh￿9. You can seg tljey are contenl. They0￿ th"sGourngedor lrnjhtened. Everyone is around them to And leach them wh81 is tx)od. loften oo to Ihwrhoffle When its fheirlK)uses least dèy otherttc8510ns. Yhe 8lmosplwÈ is famhy4ike. wajrn. pleasant. Thg wungpeoplè #Iso c¢)rne to church. and evOW￿ lov8s tham. Wg keep an eye tin Ihem lo $00 tlJ•m. ff th8ydtsnY Élw oy. ask whal h8ppened. We c8re them -The woth ollhé FARA lad￿$ ha$ hada spéctalim￿I in ourcommurrity. S*nghowt¢aub"lul Iheiractsvity is. m(Ye en hav6 been inspifed," they ha￿ grown I￿ldor¢hi7￿fft wilhoul fafftilies and hav8 b8come fgstgrparents We now have ilfrilth¥rr di￿￿[ IS f¢tmilie5. We see Ihenj ￿gulanY. They are wwithKen care oranu happy. Tpjestr women s8yfftel Iheynever thought about becoming fos18rparenls and l*irKJ abant*)nedchkn and tIK>se Mth h8th i58iJes if FARA had nol offered such è bèbutifulexample oldedicalAOn.- Tacklino PovÈrty Through Edueation This COMMUnty￿a$9￿ pro9ramrne Is deliverod in Baia p￿yt¢￿b", Nvo communes in Succava County, and in Popepts"_ Leordeni, Bucharest. 11 ains lo prevent school drop-out. combal povety. promote soual inth$fvJTh and integration, and Jvpport 9ro*1h Ihrough edu￿￿.￿n, iommunity involveweftl. al￿ iue$$ iv upyurluniD'e5. The progrAmnKa_ tt(JthtrihiJlts lo imp￿rnanting nab.onal int•mational pOI￿les. strat•9W4$ 2r¥J1•9i4latk)n rAgardin9 poverty redudK)n. prornotsng social inclusion, promotin9 and fgBpecling tho rights of Childrèn and young peoplè. ir￿uding th0￿c With disabihtw. and buildin9 $u¢tsinable cornmunibe.. It aims to mprovo wolH>eing. help vtjlnerabk IndNhtU8ls thrive, fa&lrtat* to cducetion 8nd employmen*, FrTpro¥e quality of care. stren9then comm&N)ity4>as¢d st￿Ge5 atnplify beneficrdries, voi¢¢s in (l¢¢h5v)ns fdabng b) thtir li¥ts. Durin9 2024 111 SuL*dV(1, 100 kiiideigarten and 200 pn.mary 5Gh0o￿age ChI￿￿n were sUp￿rred mrougn after-wooi prL¥lam￿￿, whlch pfoviaed more inan 36.(W hoi meals aTrJ more man 3.thwwr5 ot￿vIl￿ wwork. More Ihan 450 eou¢aDonai packages were provided and ffte￿ was a 1C¥J% graduatson rale for primary sthool students. VVThthin the wder communty, we also Pfoyided support forfamihes struggling *ith po¥*rty. This InchJded provishin of more th8n 2.000 p￿&jeS offood and nu14rLxl whk nve than 120 re￿￿1 garfenng artsdes arKI howhold Icols. *4)proxvnatety 150 eth￿t￿na1krtS were distributed tofankn. 140 Fe* med￿1 in Ihe form ol tèsts, corsultabons. and dental aThY eye care. T**ntyse&%ions were overthe yearon lopics rdaw to heamh. cu￿rnUn￿￿tIon. nutnkn. fin3nualeduc2tion. rÈlats"onshps. first ahl. fnendshp. tAJtyrg. sc4xYanty and empathy. Fundalia FAR4's cotporate pathèr Lènovo ha$ ¢ontinued to support prcgrarnma, Iheir STEM ISciorK*, Tochnobgy, Engineering and Malhemalicsl edUcats"o￿al room being ty 336 unique benefitsaries. Parents provide(I the feeilbath bel¢)w aboth the pr¢gremme and rts ii)pa¢t on their chihdren's progress. -1 affl very5alisfKd because my dau9hlerdc*slJerlK¥new(Mk andbecaus& she is happy. She enjoys having more She d08sn'f feel firedbec8use sh& la115 asleep by 8pfft. She happy to (b herhofflewo￿ and Is leaming io sp8ak correctly, to interact Ivilh olherchildren. l èm vsry salisfied. may G￿l￿￿ep thts ptD9twnmè going as k)ng as possible. even unlil U)e 8th grade ilposwble. My dèughf8T tcry about ￿￿"ng to sc1K￿, twl rfshe misses 141v days olFARA, she cries. Shè evèn gels (wlofbed when to come to FARA." 'Myson was with Ms. M.8., and l am very$atisf￿i)6C8US8 he s*ts help I￿1hhIS homewk He ￿18 v8ry qood Ihings tmm FARA. H& le8ms Kell. Ifhe had lo l)ring his home%￿￿k home. wouldn'l manage to help him. We don tkThgw how fo as&sl The homewoth Iheygetis verycliff•rent. We don'l undDrstand any of ￿ Ms M 8. 15 gffjat." shès wann. s18yS With Ihem. e*pl•ns eornclly, andh&* par18￿@ 8nd8 g(x*lhearf.' The Popesli-Leordeni pwramme provvjed daily sworl for 14 paopla wilh disabilib"e$ al the day cenlre. Activits'es included group th•rapy, individual ¢ount￿￿n9 and 9vidan¢e. actiwbes and ￿ crtatitinal aCti￿ticS. Approxirn4t¢ly 2,400 support packages of food and non4ood items were diqtributed to f￿llIeS. who also had acce$5 10 individual counselfivJ and group di¥GuJsion¥ to he¥) them ￿erCOMe crisis and dttFifjull siluatlQQ5. Pa￿9 FARA FOUNDATION IUMITED BY GUARANTEEI TRUSTEES. ANNUAL REPORT IneorporatiThJ thÈ Str•t•glc Report and Dlr•ctors' R•port for thg Y•ar EtwJ•d 31 D•e•rnb•r 20 Parti￿PP￿ts in the progr8mme offerEd ihe foknving refieclwns. "I IA-e lo lo be Ynih my cotsagues here frn Ihe Gen1￿. th￿10 leam sofflelhing fven l (A7n¥ laThv howmueh leon do som81in)8s. But if I woth 8v8ry day. l ffiana￿ lo do somgthi'ngg(%xl. lkn gl•J Ihat l(Klay Ileamedsomething new. I diln'l thinl( I ￿￿￿kytre 8ble to do anylliing. l rnan8gedto sort cwt (w," rt ￿aty w&8nllh81 difficuA. lkn glail I 5￿G88￿￿￿." "I felt Vgry g(thY. I I￿& tfftv Ihe muffin$ iumedoul." 171make them at IK¥ne ￿115 my mother, tco.- .1 h.ked d￿n9 ¢ookn"ng a¢tM"tybacausè I was tt) dèvèkw mY￿"ty locut wtabfes, l am veryhappy thatl succeed.. "l to ¢enlrn to scvialttè and(kn actsviL*s p60ple. If8el andal 8￿.. Edueatlonal Buvsaries Followin9 Its sucLtssful laund) in 2023. the FundalHa FARA Educats'onal Bu￿￿￿rie- programme expanded in 2024 10 $UPPOftsr¥J 56 recipients. 30 funded by FAFW UK. These were awarded to hwh-8th*viro students from disadvantaged backgrou￿￿5 lo supporl their conlinued vjucation. This prograrT¥ne more than iu61 financial support, it consists of ¥vuii>¥llirig. yuitj1l¥i￿, IIIEiilviiiw. ¥iiiviitJridl )yppuii fvi 11(I¢KJiidl ¥X¢llTi> ¢ivJ ￿[111)>1011 10 u¢iivtisity, support for partlGipaiM? in national compethtions and contests. a(Jvice at the exit of the protec¥on $ystom arKI access lo personal development opportunit￿. In addlI￿n to finanu81 ah1 to Iheir Chan￿ lor Ir￿reaSe0 academic Ferfornaii¢* ond a¢hwèm8nt oi career plans. A sanwe ol student feedbac* Is h￿￿K)hte￿ here. .1 •ppr•ei41• Ihis ￿￿)(1)rflI1￿vwnm• ￿•1￿.¥* illwlp•lm• fin4nri. I wlkd Irj ov8rcom8 and wovitled mo M41h loarning opwlunilios Iljal hdped me accumulale kno* grtldevok¥J new Sk￿19 fstt•rth&n I could im&girJe." "Erluialion Is one ofltse most inwtssit sttrjtrs fvrow devtkwmwil itthapes 8peopLp. FOGUS Jvurdrvam and (X) Ihe Oesl yov Gan lo suGceed.I rhep(¥￿Er1Q Ghange yow Irfg Cl￿￿￿1514nce5 rs iii ha￿5." 'NoOodyhas help6d me so far. n0tem0r￿aty, n(X M￿ally. not fina￿￿11y. I bthve Ihal tlws wruramme Ls mycl￿1¢e to go beyondmylimits and ways lo use ryfulOential Ihw le8mvw &￿e￿￿81￿1.. 'This bur$gry ts essenfy"81 lormylulure. 11 is my chm lo finish mylllgh s¢hcolandfuthermy educat￿￿ at urrivetsitylevel." A FAMILY FOR THOSE WITHOUT: St Nieh•l#• . Si Ni¢olas home for chiklren rjosed rts doofs at the cnd of 2024. Opened in 1997, St After 27 yeer¥ ofacfvity, Fundotie FAR4.. Nicolas was Fundatia FARA'S first residenltal care facility arvj off￿al programme. Aw9side ils sisler h￿De. Gobriel's11999- 20191. Sl 14iGolas lilaike￿ ltr￿ beginiiing of Fundalia FhRA Ms we today. The G[tal￿n of 8t N4fj91as atxl, subse9uentty, Si Gabriel's allowed Fundati3 FARA to he￿ rnore chrfdren than ever befote by p¥o¥iding an itHlepen(Fenl, nurturing. home thai was Llesperatety needed by tts b￿ef￿È￿￿s. Since Sl Nicolas and St Gabiiefs opened. Romanian society has changed svJnfficanlly. The development of fc6ler care servre8 has reduced the need lor residential hornes for children aThJ Switched Ihe fows lo commun*ty work. st Gabriefs had 36 ￿nefiCIar￿S bèfote rt cktsed and. overrts lrfèlime. St NicoLas has been home lo 42 chiklren at differenl times The hornes offered a true famity environment where children were lo¥Èd. carèts lor educated. SLSPPOrted and encouraged lo succee¢ in life. The children who INed at St Nicolas ¢ame from diverse and often ItaL¥natic backgioutKls. illcluding those abandoned, without farnilip5. ar￿ tsthers removed from tt￿1rpaortts. ¢afe. As a ￿￿1¢ of invesbnents in progrwnme and professional interventions. mary chlfvj￿n were ¥eunified with their famil￿$. tnaking room lo support otheTS in need. The ho￿ wib*ssE(t counuess succes$ siories. Many benFJfiGiaries grew out of fvn-litne Ca￿ and went on to pursue hoher edLSC4tion. enter the wort(force. an¢J Iwe happy, independent Ir¥es. P￿nty now h8ve Ihei¥ own farn11￿ ond keep In kjuch Fundaya FARA $t•ff WIK) hetped rakse Ihem. Reyina Btslai. Assocmte Director of Fundalta FARA. conYr*nled'. 'Fof t￿ young adutts have lell the progTanJme. its coming I￿rne to Ihelrfwnil￿8. Iheycome 8rfrd see us bnd visil us I woiildshafy A wc%￿11 Suc￿sS stw of a child 81 Sl G81)ripls who was ￿￿ThI￿d bvith INS mother 20y88rs w when was about 12. 1 feel ths gtstitude mspoct W1￿ft h• c*ls mg to shafy ths *lygvements, hapynoss and Igelings about INS •)rp0ri0n¢e in our¢8ro or ask lor aobi¢g. 4$ ￿ r• $bll in ccd)t•¢t al I￿1 • month Andthis is common b•c*us¢ Ihoyfg*1 that IFARA] family is h*er& thay foundlow and supwt and theykrKwthalp6oplg ats)ul them." Pagè 10 FARA FOUhlDATION IUM17EO BY GUARANTEEI TRIJ8TEEa' ANNUAL RepoRT In£￿POIli11lry thE 3lraiE&*G Report and DITgaors' Report forts* Year Ended 31 Dxember 2024 Ihe goal of Sl Nicoks was ahvays fir51 and 10￿MOst to PTovbJe care. bve aNJ a family to Ihose wrthout The Fundalia FARA team who ran the home Irealed chddren a5 their each day. not as a lechnical ￿￿. thus showing th@ir pYlrAorrtinary dedication. We want io thank incrediblè slaff ftsr their h.re￿ LI￿ and ￿￿rn￿1￿￿nt to fv ¢hihYren in thoir car•. Solidarity with Ukrainian r•fug¢t$ Following the outbreak of war in ukrai￿ ITr February 2022. Fundapa FAK4 ¢￿ated ihe Solidarity Team for Ukraine lo provide essential m8terial Support and psychological asststaTr￿ io the Ukrainian rEfrJgee5. chihlw and farnilies crossing the border at Varna Strel, Suceava. This woth continued in 2024. altho￿h rt is ￿ndIng down. and scheduled to close tn 2025. Fundava FARA helpeTJ a tolal Df 60 people124 adtrfts and 36 chikyrenl overthe COU￿ ol Ihe year. Half ol these people were 5UPPOrted In the eA)mmuntry in Suceava rA)unty. The olhefs wert supported Yath accommodatNM. includèd Romanian language lessons. edutational activitie5. recreation. S￿¥81 actvil￿S and chiklcare 5UPPOrt. One refugee we 5UPPOrted sahy 'T1￿kS lo FARA we lo br#Jgpèaeè fto t￿rSO￿lS.. we Ihank frorn the bottom olourhwts loreverymom&nt ofpeace." In the UK.. Engagement with the FARA w0￿fOrCe Thè FARA UK workfoicè has 180 full time equiv31enf 51aff. This comprises aFyroxirnalety 300 paid staff, 120 who are full_tim• with the remainino 180 operalino ctn A part time. 01 tasu¥l ba$1$ equivalenl. along wth volunt94￿. Tho charity ¢ommuni&?tes wilh its staff and volunteers in multiple ways. Induding monthty iniernal newsletters, email comrnunications, thè FARA intranet, thè holding of regular prOjecVteanVa￿a meebn9s and throvgh Ihe senior management team. The shops re¢eive ￿gUlar visits from th• Area managery￿ and ad IWG ¥i5it5 from membert ol the txecub¥e Leadtrship t¢>6tn and Trustees. Al ¥l*aif lid¥E a charity email address. An annual appraLsal proL*S8 is cwlu¢l8d for 811 st8ff. It seeks to und*5tand pmfessKbTral and person31 development rpqiiirpmeftts and how they mght us• oth•r $kil& and èxperttse to EUPPOrt the chanty. This infomiation is used to understand c•r•gr a8pirations and fvrthcr cnhancc- -taff de¥eloprrEnt. E-￿arnIng is used as a means of Irainityj and devdownenL The Trainiro P£ademy continues lo operate al Ouf Islin9ton shop. providing basic training fijr Shg) staff 7•Jhgn Som￿0￿@ fi￿1 $i¥rts with FAPA. i•fr•shgr trainin9 and ad ho¢ training wh*n nS.qiJirpd FIPIANCES AND RESERVE8 Durtng 2024 FARA re¢eived £27.54Y12tT2J" E23.bOOI Ir(ffi spon$ofS. d￿ts.￿S and charitable Injsts.. Investment incotre was £4Jl.dUO Ik023'. £287,376I while Ihe unreahsed gains on fund invesbnents ￿oUnted to È154.60412023." £183.8421. The Investment Comrnitteo again ￿0)n￿nended the approval of an invesknent poky designed to rKndiJr¥*. AhAvp inftation rgturns ovei the longer lem while adl*rino to the ethical contÉm# of the thaiity Tr. enntriTrXil*￿ from operab￿*d*er4#$¢d to £1.699.341 during the year {2023.. £2.75J.8WI. The reserve8 posits.tsn of the charity has shift9d from £11.77m in 2ry23 to £11.62m in 2024. The aceounling policies ad¢Wed by the tharity are set oth Thi Note 1 to the xcounts. FARA UK fundraising 2024 was a dnhcultyèar for Irading following the posl-COVID surge in sales that took Pla￿ in 2022 and 2023, with sales 1.4% down on 2023. This enabled FARA ièlail shops and online opeTalK)ns lo generate a surplvs of £1,699.341 which It W8$ able to covenant lo FAPA UK ¢Juring 2024. This ensured Ihal FARA UK could conlinue lo grant fvnd Fundaty"a FARA core ark devèlopn7ent programmes In 2024. onty drawing on reserves 01 £144.737. FARA UK Trnding Operations ts 8lmost 96% ofFARA UKS8[￿u￿ Ytc(Mne, and thè remainin9 4% comès Ircm gÈnerDUS regular UK g￿r$ and investment retums. During 2ts24. intomè received from fisted irwestment& and bank deposit accounls amounted to £437,20812023. £287,376), reflecting an improv8rnent in divKleod Y￿Id8 and Inte￿$1 rate* At the samg Ime. the untealised gains mad? on iftve5trn&nts amounted to £154.66412023." £183,842). Income generation ovlside of Ilie sliuys li1• Ixen dEvW tjuting 2024 a￿j vthll coniinue InTO 21T25 as part of me aeveiopment of the three.year 2024-2026 strate9y. PèJa 11 FARA FOUNDATION IUPAITED tyy fjUAIIANTEEI TRUSTEES. ANNUAL REPORT Inwporallry the Stsategle Report and DirectOf5' Rep(xt for the Year Ended 31 Decunber 2024 Plan¥ for the fvture During 2024. UK> 202*2020 slrattyy Lryan lo Lr vnpkm¢nW to hdp it to i• over Ihe thTetry¢ar perioa. . Tnis looked io conttnue the altsJntnentiif FAPA UK aTKI its Iiajiiy bLrbsKSiary to ￿ntinue 5Ltrpporting the work ir* HoMan￿. ana In me UK focu51ng on ihrts swar8gk areas. Programme5.' th Intend to conbnue s¢Jpponing Fund8pa FARA preogranThs to dplNer 5ervK85 ofthe highe6t quality lo help the mosl vU￿rable childr￿. young people. adults and larnlias in Romania, developing our partnership to ensure it iseffeclwe. wofessiond and suSta￿able and 8nabl&s them to Implement thèir thfee-yaai Strategic plan. Public engaggmont. ¢onsohdate S￿1 grrmf Ihe contri)ubons frrffi wrtetal operation to ¢Thsure ils conlnued $u¢¢es$ and yes11￿nCe. whde ako looking to dNer*fy Our income base by incw6Kfj our profile and comrnunity 8ngagetnenL peoplè: we wim cU￿va￿ a tnfNth9 and priMJ￿￿ WDrkfDtEe 5UPPLJrted by ••J prolessional governan￿. united under shared values. VISI￿ aThJ mission. FARA IIK . U1￿￿￿ IL4 Partne￿￿1p A￿￿@mÈnI with Fundab"a FARA is expect•J to prsNide Fundaba FARA between £2.5m- £3.Om each yearovèr the Ihree-year strategy peri(Kl 2024-2026 to fund existing prograrnmes Isutwct io the conts"nuing ￿ed lo raise lunds during th•t period from Ihc ptsblK and Cdory￿rationÈ and through apptyin9 for •li9bk lunding wthin Romania and In Europe. Financial review and risks The charity maintains an¢. at each boaro meeDr#J. Teviews As rtsK ￿￿$Ter aThJ Upda￿3[1 WtEre necE55ary. In othlitiLJn Iv Ilii¥. the risk regisler is a slon¢Jing ilern al all subcommrftee6 and ￿ I￿rough￿ rev*wea Irs d8ts11 onck a year in Marcn. We WOfK 10 ensure we have *d￿￿ale and appropriate conlrols in place aThJ are lakiThJ any furfher acb.on as required to prèveni. rniiKJaie o¥ limil risk. Whi￿ acknow18dgiNJ we ￿l't prevent am risk relaw events. The Board of Trustees ar¥ sabsfi8d that this Kyocess manages and mil￿At￿.& thaqp. riqk Our risk regisler *Yen*"f￿8 potènlial itks lac8d by FARA UK and k)okR in auosg Èxtemal. Ccffiplian￿. finaKial. govemancè, eporational and progt8m d•liv•ry risk areas. As a grant lundiNJ onJantzalion ￿ ern5Y￿.￿ t￿. mnol 8wJnifunt risks include th¢ ftsllowin9. 11 The pro9ramJ we fur+d nol deli¥ering Ihe expe¢teond mathei. The value of FARA Invesbnents stood ai a httk over £6.57m as of 31$1 December202412023". £6.79ml. The Annual report. incO￿￿ating the Strategic Aport and DirEctr¢s rep¢)rt has been appro¥•d by the Board of Trustees on . and sBTred on thew beha￿ty.._ Ms S G Cross- Chair ol Twslee5 Dated Page 13 INDEPENDENT AUDITOR'S REPORT TO THE MEMBER5 QF FAI¢A FQUNDA VION {UMITED 8Y GUARANTEEI Opinion We have audtted the fina￿181 Statements of FAJIA F(￿ndab"on (L￿lted by Guaranteel (the 'oarnnl charrtable company'l and its Subsidiar￿ Ithe'group'l lor the ￿al 31 Dec£mbor 2024 which cornprise the Consd#Jated Statement ol Financ￿ Acliwties, Ihe P.onsoltslatod and Charity Balancp .8￿pt8. Ihp f.nnstsl￿l)f￿rf ￿.￿¢h Fkwi .qIAlgm•_nt and notes to thÈ fin8ncial sl8tements. including # sumrn¥ry of signthcant aceountin9 polic*g. Th• fin¥r￿la5 report¥¥ frwnework that hag b￿n in their prep8rAlir*n is applicable kiw and United Kingdom AKpynling Standarrls. includin9 Fin*)cial Reporting Sland•rd 102 Th• Finan¢ial R•porting Slandaid •pplK•kk in the UK and Repubk ol Ireland (Uniled lQrydom G@￿r￿￿AGG￿ptsd Ac¢ountin9 Pradicel. In our opiniDn, the finan￿￿1 51atEifiEDI¥. give a true and fair w.ew of state ol the group's aTrJ ol p￿￿1 chyritabb ¢thnpany's allaiTS as al 31 Decernber 2024 and ofttre grw)'S MY•)ming rtsouw aFvI￿￿.0Tr 01￿$0￿r￿. induth.ng its incorr* and expendilure. forthe year then ended", have been propety w¢parad N) accordan￿ with Unrted KiThJdom Ge￿rallY Accepted Ac¢ountsng P(acb"ce.' have been p￿pared in accordance wilh the requirements ofthè Ccrfnpan￿s Act 20C6 and the Charilies Act 2011. Bagls for oplnlon Vve conducted our audil in aC￿rdanCe wilh Intemab"on)I Sl8ThJards on AudibThJ IUKI IISA5 IUKII aNJ applKable law. Our responsibilities under those 5tarKlord5 a￿ frjrther descthd in the Audilorfs respgnsibilths for the audlt of Ihe financial statements sectR)n of our report. Vve are independent of the g¥ow> arKI Ihe parent charIta￿e ctynpany in aocord8nce with Ihe ethical requiremenis inai are wievanl io our auaiT Of me financial Stsler￿nts In Tr UK. Induung me FRC'S ethiGal swn¢Jai¢J. atKI we have fu￿lled ourotherelhical re5ponsibilib"e5 in accor¢JaoGe *ith Ihese requirements. Vlle be￿eve that the audit eviaenit we navÈ ot)tsined is sufficienl and aFwopriate lo prowk a for our winion. conclusio￿ relating to going COn￿M - In #iidilinn th￿ fin#neial lsl￿171￿i1ts. we are require(I to (Jeiemiine wnetnec mefe Is a rnakrial mis5Taier￿nI Jn tr* finanoai staoments or a ma￿tha1 ffllssiatemeni of Ime other information. If. based on the work we have pertorned, we conclude that there 6 a ma￿rIal m1s5ts1emeni of this Olher informaiK)n, we are requi￿ lo rewi that facL IA* have nolts'ng to reFL¥rt Èn regard. Opinions on other matt¢fs pr8scrfbed by the Companles Act 2006 In our opinion. based on the work yTrdertaken in thè course of Ihe audil. the infomiation given in the Truslees, Report lift￿rpOratIng the Strateg¢ Report and Director5, Report PTepaTrd for thÉ purposes of Company L￿} for the financial year fv which th• financial stat•m•nts a￿ p￿Pared Is consislenl with thÈ financial slalement5, and the Tivstees, Report Iincotporating Ihe Slfategic Report atKI Di￿Gto[$. ReKx)rt prepwed foi Ihe purposes of cornpaTry lawl has been prepared In accordance wilh appfirable regal reqUirer￿en{s. Matters on which we are r•quife(I to r•port by •xc•ption In the light of the kncv•rtedge and understandin9 of Ihe grrAJP and the Pa￿nt charilable company and ils environrvEnt obtained in the tourse ol the audit, ￿ have nol idenlified material M￿statem&￿t5 ill the Twstees. Report lincorporaling the Stralegtc Report and Directors, Reporti. Wè havÉb nothing to twjrt in res￿ of thp folknwin9 matlp.rs in r>.L4ts"￿ to wh￿h th* C￿￿an*S Act 20C* reqLtires us lo report to you il, in our op￿lon. adequate accounting records have not been kept by Ihe parent dwitable compary. or returns adequate for our audit have ot been Teceiveil frthi) branches not wsited by us.. or Ihe pa￿nt chahiaue cornpany's finanual 5&t￿ne[￿ are not in ag￿ernent with the accounb.ng records retLtrns.' 01 certain disc105ures of lrnstees'ldirectots. I￿￿￿era￿On spe¢iW by Iw are not m8de" or we have not ￿￿1Ve￿ all Ihe informalion explanat*)ns we requi￿ for our audil. P*Je 14 INDEPENDENT AUDITOR'S IIEPORT TO THE MEMBERS OF FARA FOUNDATION IUAIITEO BY fjUARANTEEI ResponslDllllies of Irus￿OS AS explained more Fulty in the trustees. responsib￿l￿e$ 5talement sèt out on page 2. the trustees (who a￿ a150 the direclors of I charitabte company fof the purposes ol Celnpany Lawl are respon5it4e for Ihe preparalon of the financial statèmènts and lor beirYJ satisfied that they gwe a true and fair v￿w. and lor such intemal control as the trustees detÈrmino IR ngr&_¢x#ry to enable th preparation of financial statements that arè frÈè from MA￿rial mr*%txt*_rn>.nt. whgtsr due to fraud or orror. In pr*pariw Iho finsnti*l 5tatemenls, lh• tru$tses arg r86POt)Eiblo lor aete6sin9 the group," and th¢ ￿￿fit charitabk ¢omp8ny' ability to ¢ontinuo as a 901119 wncern, dk%closing. as appliGable. malter¥ r¢loted to going concern and usin9 the going con(£rn ba$1$ of aKo*Jnling Unle￿ the tN3tee3 etther inténd to 1hlu￿jte Ihe 9rcw or lh¢ parenl Gharilabk (thiipdiiy vi Iv Gea5e operation5. or have no realistic 8ttern8tNe but to do so. Audltorf5 re5ponslbllltles for tho aurfit of the financlal ststsmsnts Our objects.ves a￿ to oLrtain ￿asonable assu¥•n￿ about whether ihe financial slatements as a whole a￿ free from material rnisslatemènt. whether due to fraLkl or error. and to iss￿ an auilitorfs report Ihat Includgs our opinTron. Reasonable assuiance is a high lèvel of assurar￿. bul is nola guarantee that an audit COFbJucled in acc0￿8￿¢*￿11h ISA5 IUKI will a￿ayS dètect a material misstaternent when il exists. MisstalemÈnfs can aiise f￿rn fraud or ermr and are Conside￿ matÈnal if. individually or in the aggregale. they coufd rèasonabty be eMr*cled to influence Ihe eujnrmic decisions of users laken on the basis of thèse finanrial statements Irr•gulartties, In¢ludih9 Iraud, are iTr$tances of rK>trcomplienee yéith la￿ re9ulations. We deswjn pro¢edures in line willi uui ponsibilities. outjined above. to deteGt rnaterial tnisstateinenls Ifl rEt*pEiI uf iiiegulariiEs. indudlng fraud. The exteni TO Whieh our procedures are capabkof detecting irregularilre5, illcludir*J fvaud Is Oelailed bel¢)w. In idènirfw'rg and assessing ofrnalerial misslatefnEnt in respecl of irregulanlies, Tnduding fraud and non-cc*npliance wrth law5 and regulaitons, our procedures indude Ihe [￿1)wing.. > Enquiring of managemenl Gonceming the orynpany's polioes and prowlu[es ￿latIr¢0 lo. idenlifyrng. evaluating and ¢omptyirvJ with laws and regulations and whether they werè •arÈ of any instances of nafi. c0rnplkgn￿'. deleclin9 and r•sponth"ng lo the risks ol f￿ud and whethertt*y have knowledge ol any actual. suspected or alleged fraud". > DIsGussin9 amon9 the tngagemenl team h(M diid WFWE fra￿j wn#JhtQL¥UI ￿ thp Flnandal Statemems ana any porenual indicators ol Iiaud. > vDiaining an undeislanding of the legal and ￿gUratory frarneworks that the ¢ompaThy operates in, ft>cusing on those laws and regulalEoll5 that had a d1￿cl effect on the Finan￿al Slatwnents or that had a fundamentsl effect on operations The key laws and regulations wè tAinsKlered in this tont@xl inejitdwj CIK Cunpani@$ Aet 20C6 and the aett*unbng $t•ndard. The er*g2Q@m@nt tp.xm i* f8miliar with th@ge and h8$ resour￿ avaltat￿tt to support tho Mfjew. Other relEvant law- r￿Ulation$ aro thtsse concerngd with Ihe retail acbvity of the company. forwhich the mana9tsm¢nV$ 0s51Jmptions and deG13ions W4rg rawowed. kt the differences in Ihe a(tr￿tIeS belween 11¢ vaiKJUS uf the group. u￿Se were rev￿ell I￿￿¥UallY lor ea¢n COniPQtTrwbl. e Klenli￿a me greatesi rL%k or material Impact on the financial 51alements from trre9ulèrit4es. induding frnud. to be wilhin the recognition of incc4ne and thÈ overrKle of controls by management. To address ihè risk of fraud in these areas. we. > ￿￿eWed all material ¢sb"mates affecb'ng income. ind￿lI￿j recoverabilty of debtots and cOMp￿tene$S and accuracy ol delerred aThJ accruod income.. > selected a sample of transactions from maleiial income str•ams and c¢Ynpared expected income to Ihat recorded within the f4nan¢ial $tatement5'. > perfomwl analytical procedures to idenbfy ary unusual or u￿Xpe¢le(I ￿all¢J￿ShPS". > tested journal entries duAng the year 8fKI al the yeaiond to ￿entity unusual transacb"ons.' > assessed whelhèriudgéments and assumpts.orts made in detenninirKJ ts a¢fA)unbng esimates We￿ indi¢alNe of potential b¥as,' investigated the ratsonale behind s￿￿GanI or unusual transacb"ons". Reviewed minutes of meeb.ros of thosè charged with go¥ernarKe aTrJ (th¥*d an understanding of Risk Assessments and PolKies inlroduced by management". Compared resuhs of eslimates previousty made to actual outcome5 tts con5•Jer rf Ihere were of mis6tstement due to bias, includiry but not limrteil to dila￿dationS prow5itsning. Th¢ ptoceolufes carr*d Lwl which Iv de(ECtiwy eiiors in Ihe appllcaiion of IM laws aTrJ ￿ulationS are thougni to De capab of det9Gting, and adV￿lTrg the corrnction of. any rnaten￿ ifwularibes. Pa9e 15 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARA FOUNDATION IUMITED BY GUAPANTEEI Mi$statemenls Ihat arigé tr> fraud can be h8￿r to dgl•vJ Ihxn lho￿ thal arise èttor as they may ifbvolve delthrate ¢oncealmont or collusion. Howewr. audii proc4dLtr•s ￿re deS￿3n¢d to seo)unt the management OW.br¥#lp. of controls being considered a high A fvith¥i desLY¢ptioi) of Qui respons￿￿￿¢& i% available on h Financial Reporting Coun¢il'$ website at http.IlY4w.frc.org.uklauditur5fe5PDll5ikn'lilE5 . This descripb"¢)n lom￿ partol our aLKI￿5 repc¥i Use of our report Thts rep(%t i8 made sokty tts the ehaniat4e c(fnpany¥ memtéts. 8$ a bth. in xcordance ￿th Choptèr 3 of Part 16 of Ihe Companies Act 2006. Our audit work ha5 been undertaken so Ihal * might slate to the Charilab￿ compally'5 merTtbers those matters w8 are required to $tate to them in an auditots reFQrt and lor no other puwe. To the fu￿$1 extent rem)itted by18W, Wè do not accept Dr assume responsibiltty lo anyone 0lh8r Ihan th8 charilable compar¥y and Ihe Charitab￿ companls members 86 a body, for our audil work. for IhB report. or forthe opiNons we have fomwd. Lisa IMLson FCA ISenK)I Stslutory ALwJitoil For and on behalfof Rothrnarts Audit LLP Chartered Accountants Chi￿Orth p￿Tr( 1 chi￿10rth Roaj Southatnplon 5016 7JQ Date". ftothmgns Audrt LLP 15 elvJiblp lo act ¥* on auditor in ofsection 1212 of Ihè Coffpani06 Act 2006. Rothmans Audrt LLP ￿ a l¥nited liabihty partnefthip regystered ￿ England and wa￿ (regLste￿d OC4262DOI Pw16 FARA FOUNDATION IUMITED BY aVARANTeEI CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Forthe Year End•d 31 Docombef 2024 Notes 2024 IToEall UnFgStrfffled Funds 2023 (Tulall Uniesiri¢teo Fund5 INGOAIE Donations and legactes". rA)nat￿ ènd other v￿Untary inccqne 27.549 23.880 Income from other tradin9 actNrt*s Retail income Propeity rnaThagEmenl charges 11,992,925 12,3e4.119 1.400 Investment incomè 437.208 287,378 TOTAL INCOME 12,457,682 12 676.775 EXPENDITURE GOSIS ofT81￿n9 fvnds.. Retail costs Portlolio managemenl 10,432,205 29,714 9.498.620 18.884 Expenditure on charitsble activit￿5.. Provtsion ol Funding for Chthj. Youth, Adull Care & EdLrcalron81 Serv￿$ 2.295.104 2,093.530 TOTAL EXPENDITURE 12 757 082 12.311.040 Nct income I l¢xpenditurel lor Ihe ytar before gaIr￿ and loss¢ 1299.4011 4t5>, KJS Net oains I Ilossesl on revaluation of fixed a5sel in￿lmentS Net 9ain$ I Ilo56e51 ovt invesbntiits 154.th4 183.842 NET INCOME I IEXPENDITUREI FOR THE YEAR R•con¢lllatl¢)n of funds.. TOTAL FUNDS BROUGHT FORWARD 11.765.885 11,116.308 NET MOVEMENT OF FUNDS FOR THE YEAR {144,7371 649,577 TOTAL FUNDS CARRIED FORWARD 11.621.148 11.765,88S The Staiement of Financial AdNrttes includes all gains arwj losses recogn￿1 In the 12 month ￿riod. Al amounts relale to continuitlg 3clniib"es. The notes on pages 20 10 32 lom) part ol these financial siatements. P*Ja 17 FARA FOUNDATION ILIMrfED 8Y GUARANTEEI CONSOLKIATED BALANCE SHEET As ai 31 oe¢ember 2Q24 Noto$ Ch•tEty 2024 Group 2023 Charity 2023 2024 FIXED A55ETS Tangible assets Inve51ments 10 11 203,670 6.568.117 5.652 6.653.117 198.220 6.794,046 12.463 8,879.049 DEBTORS.. Due after one yEaf 12 43.824 43.824 CURRENT ASSETS Debtors Stock Cash at ￿)k and in han Investrnents 12 1.101.693 622,055 1.249.810 60.980 2.657.234 1.934,333 S.9112,￿7 Y55.831 1.377.533 3,665.384 Ct.144.&1Q 1,295,101 3,665,3S4 5.SaZ.54Q 2.423.153 1,934.333 5,J13,317 13 L￿S.. CURRENT LIABILITIES Creditors. Due within on year 14 424.4Th) 66.Q97 463,334 30,652 NET GUftRENT ASSETS 5.72Q.219 3.516.443 5.419.023 5,282,865 TOTAL ASSETS LESS CURRENT LIABILITIES 12 4QY.881 1? 18?AQ6 1?.4￿ 113 12.218.001 Lw•>". PROVISION3 FOR LIABILITIES 16 878.533 491.258 689,228 379.925 NET ASs￿s 11.621.148 117&4885 11.838.076 FUNDS Unrestricted Income FurKIs Dcs1gnated fufid$ General fvnds 8,991.408 2.629,740 8.991.40B 2.700,230 9,889,749 1,876.136 9.889.749 1.948,327 TOTAL UNRESTRICTED INCOME FUNDS 17 71.621.148 11.691.6 11.765.885 11.838.076 The note5 on page5 21 to 33 fom) part of Ihese finafKial sLatements. No charity Ststen*nt of Finan¢ial Activities is presented as perfflitled by section 408 of Ihe Companies Acl 2006. The charty's deffiu"t lor the financial peii(xJ is £146.437. Appro¥ed by IhE Boa￿ ofTrustees ￿..... . ar¥J swJ￿￿ on their behalf by.'_ Ms S G Cross Chaim)an Mr R Dav#Json Trustee Page 18 FARA FOUhlDATION (LIMITED BY CUARANTEEI GROUP CASH FLOW STATEMENT For thp. Yèar Ended 31 D￿t￿nb￿r 2024 2024 2023 Cash flows from op•ratlng *¢llvili•#: lot cash provided bylluJ•d Fn) 9￿ra￿n9 aGtl¥hles (Note Al 237.507 410,829 Cash flows from inv6stSng activitlos.. Addibons of tangibte fixed assets Proceeds of sale of largible fixèd 3s5eis Purchase of ￿veStments Movetnent in C￿r￿nt asset Invt5ttnEnts Saje of Inveslments Dividertds retained wilhin cash portfolio Interest réce* 1101.9791 {102.3931 423,449 11,124.8181 1506.3041 575.187 {1.731.0511 215.709 101.662 Npt Gash pro¥lded by1fus￿ In) Inve51r¥w aEtlvltl85 1.042,134) 11.208.404 Change Cash and cash equlvalènts In the reporknng period 1.279,7011 11.619.233) Cash and cash equivalents at the be9iMiNJ ofthe ￿ports"Trg penod 2,657,234 4.276.467 Cash and Cash equlvaknts at thè end ol the reporting p•Yiod 1.377,533 2.657.234 Note A Cash nows Trom opgmng a¢iivitles: Net incomallexpenditurel for the reporting period pei the SOFA NÈt losspsllgxin*l t)n r*v¥AliJxlion of fiypd assets D•pr•ciatson Los>llgainl on safe of fixed asset Nei lossesiigainsi on Invesimen15 Fees eharged retained withtn Cash interest rec&ved Investmonl inthm@ rèinv•sted ovemcnt in provisions Moweiiiei)¢ in >lvik Movement In aeotors overnenl in creditors 1144.7371 849.595 $8.930 )7.595 1154,6641 B4.057 22.377 (183,8421 22.544 1101.fi6?1 1186.7141 136, 1241 60,98U 1746.9941 3.954 {215.7091 1221,4991 189,305 li*U.YUUI 306.219 158.9331 Mot tash provided bylijsed Inl operatlwJ aetivitr 410,829 Page 19 FARA FOUNDATION {UMITED BY GUARANTEEI IIOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 Dfjcember Z024 ACCOUNTING POLICIES The folowing ale main xcounb'ng polKies adopkd by the Chanty:_ Ba$ls of preparatk•n The financial statement5 Of Ihecharty, whith is a publ￿Oe￿fitentlty ￿￿1¢[ FRS 102. have been prepared in accordan the Statemenl of Recomrrended PractKe apFlicab￿ to Ch￿l￿eS prepaiing thèir accounts In accordance with tho Fin8noal Reporting Standard ap[Air2b￿ in Ihe UK and Republic of I￿land IFRS1021 and Ihe Financial Reporting Stand8ry1 applicable in the United Kingdom arbj Repubk ol ITEland IFRS1QI and the Compani85 Act 20&8. The charity meets Ihe dÈfinrtKJn of a PLrt)k benefit entity urthr FRS102. The charity has prep8red the finanu81 statements in ccffipliance Trmth the Chanty's goveffling documenls accofdance with the following accounts.ng pOl￿￿e$. ￿$ monelary Yalue$ ar¢ Cdc￿atCd under Ihc h*toriG GQSt ¢oThvenbon, as Modif￿ by tho rovaluation of Investrnents. Goin9 coneèm The Trustee5 have not idenlified any material unc*rtBint￿5 snd ao not aware olany specTrfic or9eneral event that would pl8cÈ signihcant aOUDt on me enanry's aDillty 10 ¢onDrt￿ as a go￿9 concwn. Ine I ru51ees forecasts and Dngoing assessment of ¢¥eraD"ons, ath"wbe5 and reserves lom￿ Ihe basis of theiT as5essmenl ol going COn￿M, which covers a period of at least ￿Ve￿e fflonlhs from date ol approval of these finanrial stat•￿Trts. Aco)rdingly. the going torncérn bas￿ of ac¢ounbn9 has been adopled P￿pari￿j these finan¢ial statements. Group financlal stslements The financial sfatements consohdatè Ihè results of the chafity owned subsidiaries. FARA Entèry)rises Liirli￿d. on a lii)e by line basis. A Separate statement of Financial Athwties fctr Ihe charity has not been preèented be¢au6e the ¢hanty has taken advanlage ol Ihe exempbon aiforaeo by seLb)n 4[￿ or the Gompanks Aci 21)00. Si9nrflcant Estimat•s and Jl￿9•MOn￿ Iiilwiwil iii th¢ aW1KalK￿ of many of the *￿￿u￿ti￿a pdKitss Lttd in preparing the finart¢*)I statements 18 the need for diredors lo makejudgeft*nts. esb"mates and assumptions thai atte￿ me reportea arnouni of assets anfj Iiabiiiiies ai the date ol the financial ststemenl and the ￿porting amtyjnts ol revenues arKI expenses durinq the year. Actual out¢omes could diffèr from tho60 ostinaies ¥nd ¥ssurnph"onÉ us•d. The accouTrting jud9em&nt4 ar¥J estimate$ that coiilA h8V(a. 5ignifiGdnl ilTiVATION ILIMITEO BY GUARANTEEI MOTES TO THE FIMANCiAL STATEAIEMTS For thp Year Ended 31 Decembet 2024 ANALYSIS OF SLIPPORT COSTS 2024 Depreci atlon 8 loss on dlsposal c￿rity admlb) Charfty staff costs Gov•mv ance Fin￿e• ¢ost$ Total Grants Payable= Cthild, youth and SO￿#1 car& Raising funds: Shops, costs 31.443 152.994 8.298 12.311) 3.047 193.471 15.231 15.231 Totsl 31.443 152.994 23.329 12.3111 3,047 2UB,702 2023 08preci- atlon & 1055 on dlsposal Chafity admin Charity staff costs Govem ance Financ• Total Grants Payabl¢- Child, youth and social ca Raising fund&.' Shops, Go516 39.312 186.993 25.771 8,889 36,536 297.507 13,179 13,179 Total 39.312 1B6.999 38,050 8.889 ,$36 310,686 Support ¢osls are ¢harity heal Offi￿ eosts whth are allocated as lollows". Support costs Gharfty aamin Charity $18ff costs riovernanc Fin8nrE DepreciaTh)n AIIoGativn Allocated on cost wilhin FARA Foundalh Allocated on cost wilhin FARA Foundation Allocatod on co$t wiihin FARA Foundab"on and FAR4 Cnterpri•es vn c051 wthin FARA Founaaiion Allocaled on ￿$¢ within FARA Foundat'on Governance costs includ8 2udil and attovnlancy fee& of £21.27812023.. £24.9021 legal lee$ of £2,25112023". £14,(M81. EXPENDITURE Tolal rnsource5 expende(I for the year 15 $taied after chaigry. Total 2024 Total 2023 Operalitsg lease renta15 Iland and buibj1r￿I Depreciation Charge5 for the yeai Auditor's remuneration Non-audit r￿m￿lanL￿ gerv*￿$ 1,687,159 58.931 14 574 6.704 1,727,919 84.058 15.812 9.090 1.767.368 1.836.879 Page 25 FARA FOLINDATION IUMITED BY GUARANTEEI NOTES TO THE FINANCk4L 8TATEMENTS For Year Ended 31 tiecernber 2024 STAFF AND TRUSTEE INFORMATION 2024 FARA Foundation FARA Enterprises T¢)iai ZOZ4 Stafl ¢￿ts Salaries Social se¢unty PensN)ns 123,895 14.482 9.426 6,151.162 531,472 126.389 6.275.057 545.954 135,815 Totsl 147,a03 6.809.023 6,956,826 2023 FARA Foundation FARA Ente￿11 Total 1023 Stsff Gosts 34Jldll¥b Soual security Pensions 107.fj35 11.798 2.278 .598,622 474,095 121.328 S,706,257 485,893 123.6C6 Totsi 121.710 6,194,046 8,315,758 The 8ver89e Thumbor tsf otoff •mPloy￿ undor eonltaek ol gorvin duriDg the perifyj for FAPA Ent•rpriw LinitÈd wag 280 12023." 2791, The numbcr of staff employed for FARA Found)1￿fi ILuniW by GuatantèelwaÉ 212023.. 21. Th@ number ol employeès whosÈ ÈmpkiyÈÈ bÉnth lexcknlino 8mpknyer pensb)n costsl exceeded £60.000 was". 2024 2023 £60.001- £70,0 £70.001 _ £80.otwJ EUO.001 - £90,000 ¥o.wi - tiuu.uuu Totsl During me penod expenses rotsiiing £3.103 were TeimDursed io three Tw51ees 12023". £2.COS io MI TtUS*¢51 in to tiavel ry)sts to Komania ano Offi￿ expemiiure. No remunerau.on was P8KJ th ihe T￿$￿e$ in ihe perio(J. The key management personnel of Ihe parent ¢harity Comprise Ihe Tnjstees a￿1 Ihe ChEf ExevJlNe OlfKer. The total empK)yee benefits of the Chanty's key managernent petsonr*l We￿ £94.86012023. £94,111). The key managemeftt personnel of the group ¢¢xnprise those ol the parent chanty and the key Mafiag￿ent ￿rSOnnel of Its wholty owned $ui>sidiary, FARA EnterpTLses Limrted. The key management personnel of FARA Entewnses Limited are tfie execultse and norpexecutive DirectOTS wh05e employee benefits total £434.90912023". £329.0381. The ernployee ￿nefits of key managernent personnel for the group were thereforè £529.76Q12023. É423.1491. Page 26 FARA FOUNDATION ILIMIIED B Y GUARANTEEI NnTFS TO THE FIWCIAL STATÉMENTS For the Ye•r Ended 31 2024 10. TANGIBLE FIXED ASs￿s r*ROUP 2024 Freehold land atNI bulldl Leasehold land and buildings Flxtures and ffttings Motor v•hlc19S Website Totsl Cogt or valuatlon At 1 January 2024 Addibons Disposa15 Revaluation 82.540 38.104 110.3111 1.141.263 63.875 1203.7191 22.960 1,313.229 101.979 1214,0301 At 31 Decenknr 2024 110.333 1.(KJ1419 66.466 1,201.178 D0precIa￿an At l January 2024 Charge for tThe year Eliminated on disposal 86.241 7.764 .407 50.401 19.895 766 1,115,lJ)9 58.931 16.547) 1169.887} 1176,4341 At 31 December 2024 67,458 842,921 20,661 66.4E6 997.5( Not bts)k valt At 31 Decentsf 2024 42.875 158.498 2.299 203,672 At 31 Oecen 2023 16.29Q 178,8S8 3.065 198.220 qhort leasehokl assets hekl by th• par•nt chaisty havè # net book value of £5.65212023. C12.4631. These w¢re aGquired at a cost of £27.802, and brought ac¢L¥nukled dep¥¢wlion ofE1J.339. arKJ (￿p￿all9n ol £3,047 wa5 har9ed durin9 the year. Vvebsrte assets own&J by the parent charity were acqui￿ at a c￿1 nff F49.709 and had broughl Folward ac¢umuL2lod deoreciab.on of £49.709 wrth deprp.CL¥tinn hf fnil cha*g@d durrng Ihe year. l•aviry a carrying valuè of £nil in the b¢ok5 of the parp.nt r.hxrity al the y83r @Nd. FIXED ASSEf INVESTMEPUS GROUP Unli$ted In¥gstffl8nts Llsted Invt5tmBnts 2024 Total 2024 Total 2023 2024 MARKET VALUE As al l January 2024 Purchase of investmenls at cost Income reinvested Disposèl of investments et investment 93iDlllossesl 578.196 6.21S,851 6,794.047 5.322,217 1.124,818 185.714 118.8841 180.182 221.499 126.7041 f$7.472 221,499 1604,9001 157.472 I578.1￿) A% at 31 December 2034 6.568.118 6.568.118 6,794.047 Listed inveslments incknje Ove￿a$ invesbnents of£2.077.53512023'. £2.197.5201. No sharehohlbrxjs of over 5% were held by FARA Foundation in any one company vMc*e Sha￿ a￿ InGluded In above portfolio. The cash reserves ol thè Charity conltnue to bè consxlered an integral part of the chatty'5 overall inYeslm8nt porttolio and the Trustees keèp the Investmenl polw undef regular ￿¥￿￿ to ènsure Ihe eqwty invèstments not fjeed to be éncash&Y in ihe short tern. P&Je 27 FARA FOUNDATION {IIMrrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS Forthe Year Ended 31 D￿mber 2024 FIXED ASSET INVESTMENTS (continu￿...> CHARITY Unlisl8d Investments 2024 Li51ed Investments 2024 Total 2023 2024 MARKET VALUE As ai 1 January 2024 Purchase of ￿VestMents at cost Income reinve$ted Disposal of Investments Reversal ol impainnenl In Inve5trnents Nel inve$tmÈnt gainllbssesl 663.198 6,215,851 6,879,049 5,370.791 1.124.817 185.714 118,8841 36,429 180.182 221,499 126.7041 221.499 1604,9021 {578,1981 157,472 157.472 A5 ai 31 De￿rnbel 2024 0,653,118 G.679.049 The ¢ompany'? invvalments 01 Ihc bal￿¢￿ sP*et date in the Sha￿ ¢8pit?l of wmpaniew includè thè following. The Chanty owns 100% of Ihe 5.0001z(r23". 5.U(K)i tssueii oroinary snares of FARA Enkrpn5e5 Lmiw. a company incorporated on 16 Marth 1992 (number 026974671. The prinopal aclivity of this company is tho sak of dona*d gc*)ds through a chain of Charity shops for purpose of makin9 charitsble donation5 to FthA FourtlalK)n {Limited by Guarants81- The company's nèt assets as at 31 December 2024 8mount to E14,S11 12023.. £14.5111. 12. DEBTORS Group 2024 Group ZDZJ Gharlty AU23 2024 Arnounts falling dutt within one yèar: Trade dEblor5 Other debtors and prepayments Amounts ￿ed by gmup undertakings 5,803 1.103.574 629.739 934.137 072.lJ¥J 142.948 1.109.377 029.739 962,873 955 831 Amounts fallin9 due aftèr one year. Rental tyeposits 7.884 43,824 43.824 7.684 7.684 43.824 43.824 Al Ihe balance sheet date FARA Enterprises Limited was o**d £43.255 by Ihe Charity. In 2023 FARA Enterprises Limited owed the Chaiity £142.948. 13. CURRENT ASSET INVESTMENTS Charity 2024 Group 2023 Charlty 2023 2024 Deposit accoun15 3,665,384 3.665.384 1.934.333 1,934.333 3.665.384 3.665.384 1.934.333 1.934.333 Page 28 FARA FOUNDATION ￿MITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FDr tho Year End•d 31 Doc•mber 2024 14. CftEOITORS Group 2024 Charity 2024 Group 202J Charity 2023 Amounts falllng due wlihin one year.. Trade credilo¥s Taxation and social sscurty Other u¢dilots and acuuafs Amounts owed to group underlakings 122.171 127,789 774.440 181.632 118,646 183.056 22.842 43.255 30.652 424.4 68,097 483 334 30.652 15. ENSION COMMITMENTS Al Ihe balanre stteei date. unpaid Fension ￿n￿r￿trOn$ FJWI Enterprises Luniled ￿Ounted to £25,832 12023.. £23,747). Ths amount £ FrKJuded in otheruedrtor5. 16. PROVISIONS Group 2024 Charlty 2024 Group Charlty 2023 2023 As at 1 January 2024 Arising in the year 689,228 189,305 379.925 111.333 725.352 136.1241 282.923 116.992 As ai 31 December 21Jd4 878,533 491.258 689,228 379.925 Prov¢ions are for dAapidoli9￿ arisin9 where pioperty leases oblKJe group to wv¢i UIE fL151 of rEs¢oring fetsii an office propertts to their or¥Jinal ¢wdrtion when endiiiy Ili 9SGupation as those lease5 ￿[mInatr. 17. ANALYSIS OF GROUP CHARITABLE FUNDS 2QZ4 At1 January 2024 Transf¢rs A¢31 Oecember 2Q24 Incomlng Outgoln9 resouiGE5 GaiR5 1055e5 funa$ Vnrestrlct8d funds Designated fvnds Ggneial hJTrJ5 9.889.749 1.876.136 1898.3411 898.341 8,991,408 2,629.740 12.457.682 112.757.0831 154.664 11.765.885 12,457.682 112,757,083 154.e64 17.621,148 2023 At1 January 2023 Transfers betweèn funds Al31 December 2023 Incomir resour¢•s Ouigoing Gains and losses Unrestrtcted funds Designaied fvno$ Gengral fvnds 9,398.711 1.717.597 491.038 1491.0381 9,889.749 1.876,136 12.676.775 112.21 1.1]401 183.842 11,116.308 12.676.7r5 112,211,040) IB3,842 11,765.88S Page 29 FARA FOUNDATION IUMITED 8Y GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS For the Year EnU80 31 ￿￿¥M￿0T 2024 17. ANALYSIS OF CROUP CHAPJTABLE FIJNDS 4C¢nlinwl...I Designa¢8a fun05 wreseni unresirtcted lun¢Js that have bgen 3NoGate(J at ihe TTU51Ees' d￿(￿￿￿￿1 lui yaitiLular purposes. The designaied iunfjs Inuuae yèats ￿ grnni fvntting basea on Funllaua FAPA 2024 annual net budget equalling £7.fj66.007 ¥ well as £1.325,401 to lund ts Z M￿ne6 Lrt& tor Tour years twona me curre thiee-year funding cyde. l assets and li8￿1￿.￿S relate solely to unrestsicied tU4KIs. 18. LEASING AGREEMENTS Minimum kase payments under ￿r￿can￿1￿￿bte opefab.ng l&ises fal due as follows.. Gro 2Q24 Charfty ZQZ4 Group 4U4J Chaiity 2023 Ihin one year Between one an¢J years After more than fwe years 1.505.360 3.588.685 461.792 1.01S.622 2.465.964 460.458 1,599,798 3.378,477 758.5 1,035,098 2.951.511 758,%KI 5.555.837 3.942.04 5,736,775 4.745,109 19. TRAOING SUB$IDIARIES The Charity own5 100% of the 5.00012023.. 5.0001 issu&1 ordinary 5hawès ofFARA Ente￿￿$ Lrnited. a c4wllpany in￿rporated on 16 March 1992 Inumber026974671. Tho principal a¢tMty of this eompany 1$ the salo of donat•d gotsd* IhmwJh a thain of Charity shops for IhÉ* Pt1￿￿￿9 of donaling its profrts to FfvRA Foundsthoft. The Ghanty also owned ILNJ% ot the 2 oroinary snares ol FAJ(A ProperDes Lwnlle(I Inumr*r 035428251. a cornpany incorporated on 2 ￿nI 1998 and drs50fved ¢)n 26 No¥emb&r 2024. Thc assets. liabililie$ and trading reÈultÉ ol FARA Ente￿11866 Limite(l and FAJiA Proporbes Lwniled are prov￿￿ed bÈlow" 2024 FARA Propertlo8 Liwnited IDtssol¥edl FA Enterprlses Ufflited Total 2024 Ass&ts and liabilitiès Tangibk fixed assets Debtors Cash at bank and in haThJ Cre￿ in connecbon wilh the Relail Gift d Scheme amounted to £3.420,37912023.' £4.026,7641. Ai the reporting date, the charty amounts to its subsidk4ry ￿￿ertakIng5. the detsits of wttich are r8POrted more ftjlty in note 12. During tt)e year Mrs J Nichdson. the founder and fOrn￿r tIL&%tee ol FAIW Fouftda￿n lkn"mitsd by Guarafiteel rgceived ienl lotalling L i.oiol j20i3. £ 1,2 ivj. iLtril ￿laf￿ IS nwlN61 rak. Dunng the penod expenses totsllin9 É7.21012023". £1.fi111 were fèimbuTsed to th￿[20?3.. ￿0) key management personnel, who wete not swv¥yJ as Trustees. in relation lo travel costs lo Romanrd. 22. DISSOLUTION OF SU8SIDIARY During th¢ year, FARA Properties Lmiled wa3 di?•olved. In the parent cntity thi3 was treated 83 8 dr&poael of o 5ub¥idioiy. NFt ¢VFitsid¥T0l￿n rt£tsJnistrJ on compkI￿n of Ihe di5PQsal was Entl. No cash or tash equivo￿n1• were neld In the subsiaiary al Ihe Df dr65(Autsun. al￿ the 5ubsidioiieb r￿1 IK4bilibEi dl drJl¥ vfditssolulion was iii.iuui. Ine InveS￿ent In Ihe 5ubSKliary was £2 thetefore In a nei105s on dt5P0531 of £1.7Q2 recognised in the parenys accounts. Page 32