REGISTERED COMPANY NUMBER.. 07611398 (England and Wales) REGISTERED CHARITY NUMBER: 1146157 RFPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 FOR THE ITSA DIGITAL TRUST ITSA INSPIRING BRIGHTER FUTURES BK Plus Limited 6 Manor Park Business Centr8 Mackenzie Way Chellenham Gloucestershire GL51 9TX
THE trsA DIGITAL TRUST CONTE5 OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Page Relertnce and Admiplslrallve Delalls Rèport of thè Trustèts Independent Examlnerfs Reporl Slatem•nt ol Flnanclal Actlvtlles Slalement ol FlnJnclo1 Poslllon 9 10 10 Not•s to the Financlal Slat•m•nt8 11 to 20
THE rrsA DIGITAL Trusr REFERENCE AND ADMINISTRATIVE DAlLs FOR THEYEAR ENDED 31 MAY 2024 TRUSTEES M R Ralclilfe MBE P M Hazel Iresigned 10.7.231 A Piggoll (resigned 23.8.231 Mr5 J S Hill A C Bates lappointed 6.6.241 S J Ashley (appointed 4.6.241 M R Diaz lappoiThted 13.5.241 Ms E Fraser {appointed 27.3.241 REGISTERED OFFICE Wolseley House Orièl Road Chellenham Glouceslershire GL50 ITH REGISTERED COMPANY NUMBER 07611398 IEngland and Wales) REGISTEREO CHARITY NUMBER 1146157 INDEPENDENT EXAMINER BK Plus Limilèd 6 Manor Park Business Centre Mackenzie Way Cheltenham Glouceslershiro GL519TX CHIEF EXEcullvE Geoffrey Nèwsome BANKERS Lloyds Bank plc Chellenham Glovceslershire GL50 IEW Page I
THE ITSA DIGITAL TRUST REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 MAY 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial slalemeTr15 of Ihe charify for the year ended 31 May 2024. The Iru51ees have adopted the provisions ol Atcounting and Reporting by Charities.. Statemenl ol Recommendeé Prattlte applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 lelfeclive 1 January 2ll191. OBJECTIVES AND ACTIVITIES Significant activiti•s The ITSA Digital Trust (commonly known as'lTSA? continued lo improve access lo IT equipment and IT skllls lor school children in Alrica and lor disadvanta9ed communities in the UK, particularly Gloucesler5hirÈ. ITSA enabled computer access to 423.500 school children in Africa Ihrough its compuler-supply programme during the year, In the UK, 3,649 users were given acce55 lo digital technology, includlng IT èquipment and skllls. The Diyibvs Project conlinued to deliver Ireè digilal-skills support in Gloucesler£hire in order lo improve digital inclusion within the counly. Publlc B?neflt In planning the charily's aclivities lor the year. Ihè trustèes havè complièd with the Charity Commission's guidance on public benefit. The locus ol the CharItS activities during Ihe year. which explains the delivery by the charlly ol public benefit. is sel out below under'achievement and perlormance.. Grantmaklng The ITSA Digital Trust receiv•s and refurbishe5 used compul•rs, which il then supplie5 10 schools in dèveloplng counlries In Afr1¢3 and lo tharilable organSsalions ix the UK. Although ITSA recelves a contribulloA towards the cosl ol shipping ¢ompulers, 11 provides computers wilhoul much glgnilitanl contrlbutSon in return. ACHIEVEMENT AND PERFORMANCE CharStabl• acllvStl•s OVERVIEW The charlly has had a svccesslul year, perlorminu well In both Africa and the UK. deliverlnu largeled projects lo improve digltal educalion and skills access. 11 maintained its supply programme providing high-ryualily desktop computers and laptops lo Africa as well as delivering leachor training lo improve digital education. 115 Outreach programme in Glouceslershire continued Io support charitable orgaThi5ation5 and marginalised Individuals in the county with free IT equipment and free IT skills supparl. Flnancial doThors lo the charily continued lo show immense generosity, although lunds raised were 6% lowèr than in Ihe previcus financial year. Africa and ov•rs•as op•ratlons ITSA supplied 4,235 desktop computers and laplops lo ils programmes Sn Kenya. Malawl, Zambla and Zimbabwe. Th59 represented a 23% increase on the previous year. Funding allowed the charity's projects in Africa lo continue, including IT training to leachers in both Zambia and Zimbabwe. based on éemand from schools in those countries having requested digilal skills training. Kenya ITSA successfully supplied 1,335 laptops and computer syslem5 ID Its partner in Kenya. Naivasha Technical Training Inslitule. The computer5 and laptops are by the college to de14ver tomputer-study lesson5 to students in addition to allowing teachèrs to improve the quality of their lessons. Thère is also advantage for the local communily in having acces5 to such high-qEhality. affordable equipmènt. Page 2
THE ITSA DIGrrAL TRUST REPORTOFTHETRusfEES FOR THEYEAR ENDED 31 MAY 2D24 ACHIEVEMENT AND PERFORMANCE Charllable aclivilles - conllnued Maiawl During the year ITSA sent 700 computers and laptOP5 to Computers tor Malawian Schools ICFMSI, ITSA'5 implementing partner in Malawi. CFMS'S Training Centre in Blantyre conlinued to supporl the local community, helping to improve digital skills lor Ihose m05t in need and in line with one ol Ihe charily's goals, Is. more disadvarnlaged and excluded people Sho(d be able to use digital technology to enhance Iheir lives. In addition, ITSA and CFMS inslalled 2 IT laboratories in schools in Malawi. from grants generously donated by Fondalion Eagle. The Schools had a combined intake ol over 1,000 studen15 wllh only 1 worklng computer. They now have refurbished. secure classrooms wilh new furniture. networked tompulÈrs, laptops lor the teachers. overhead projectors. printers and importantly inlernet access. giving Ihem lull access lo digital skills and inlormalion lollowing decade5 01 digital exclusion. The schoo15' teachers have been given IT Iraininy afbd an agreement alluws ulher schools in the area lo use these exciting new ZamblJ Thi5 year the ¢harily was pleJ5ed lo be able lo send a second lull-slzed shipment ol Computer systems and laptops. following small shipments sent during Ihè previous 21 years. The tquipment consist@d ol a consignment of sorne 700 relurbi5hed laplops. desktop computers and periph•ra15 which were delivered lo Computèrs ltsr Zambian Sthtsols ICFZSI, ITSA'S parlrtèr irt Zambia. In additlon. ITSA was able to conllnue ils delivery ol th• leach8r-Iraining programme In Zambla. There continues however lo be an inadequate number ol djgitally-skilled teacher5 throughout the country, Impacting on the quality DI students, edu¢alion. The programme. run by CFZS, is lo¢used Dn increaslng the number ol teachers who caTh ellectively use ICT to improve their students. digital educaliorn. Zlmbabwe ITSA supplied 1,5Ql unils lo IT Education Zimbabwe IITEZ). Ils Implemenling partner In Zimbabwe, whl¢h was more than twice the quanlity supplied in the previous year. The equipment is being dislributed lo prlmary ar¢d secondary schools throughout the country. Although ICT is on the national cvrriculum lor primary schools In Zimbabwe. prlmary school teachers are not taught ICT a5 parl ol their teacher Iraining and 50 ITSA was pleased lo be able lo continue ils teacher Iralnlng programme in Zimbabwe this year. ITSA is most gralelul to have the continued support ol the Belt Trusl and ol Fondation Eagle respect ol their IT educalional programmes in Malawi. Zambia and Zimbabwe. UK operatlons Compulor donations Over the year ITSA received 5,037 computers and laplop5, which was a decrease ol 1,383 IZI%1 from the previous year, eaused principally by fewer donations ol desktop computers. The drop in the number ol desktops was mirrored by a drop the previous year and perhaps reflects a general trend ol people using mDre laptop5 than desktop computers since the start ol the paThdemic ané Is possibly reflected in the increased number DI laptops donated. Forlunately the number of monitors donaled was similar to the number in the previous year. al 3,484. The charlly contlnues to be parlicularly insisleThl about refusin9 equipment which is èilher too old, damaged r cannot be successlully refurbished and upgraded with Windows 10 or11. Dver the years some 132.680 devices have been donated to the charily by buslnesses, sthvols. public-sector oryanisations. charities and private individuals and to all ol whom we are immensely grateful. Page 3
THE ITSA DIGITAL TRUST REPORTOFTHETRUSTEES FOR THEYEAR ENDED 31 MAY 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities - contlnued Computer donatlons - conllnued 11 is pleasing lo record that our FT workshop and warehouse team at H.a. succe5sfvlly lull¥llÈd all the planned shipmenls to our NGO partners in Africa, in addition to supplying numerou5 local communities and charilieg throughout Glouceslershire, Ihrough our IT Outreach programme. Prlson programme The prison programme al HMP Whitemoor has conllnued lo grow fDllowlng ils rèsumption in March 2022. The prison coThlribuled lo the charills relurbishment programrne some 708 desktop compulers, an increase 01222 Dn the previous year. This programme is popular with boih ITSA staff and al the prlsorn, where inmate5 are given thE opportunity to nol only help school children and commuThlties In Alrlca as well as those in our own county ol Gloucestershire. bul also learn valuable 5kS11s allowing them to gain nationally recognised qualSficalion5, which may help thèm gain fulurè tmployment. Gloucèst•rshlr• IT Outreach programm• Through our local Glouce51ershire IT Outreach Programrne we donatèd 141 laptops to communily organisalions in Glouce5ter5hire, with Ihe objective ol reducin9 digital exclusion and social isolallrsn Sn the ounly. The programme supports disadvanlaged and digitally excluded groups, those who are out of work, people wilh disabilities. refugee families. youth clubs, low-income families anLI community ce#lres. ITSA works with the Gltsucestershlre Rural Communily Council IGRCCI. Citizens Advlce, NHS socSal prescribers. the Gloucestershire Digit81 Hubs Project. District Councils, Know Your Palth and numerous other local organisalions lo ensur• we reach members ot thè tommunity who can be the most dlfflcult lo reach. In total 48 organisalions {benelilling 3,649 members of Ihe communilyl were suppjrled durlng thè year. wilh reclpients Irom the GRCC'S Daisi project. the All Nations Comrnltnity Centre, the Nelson Trust, the Rock Youth Charity, the Independen¢e Trust, Ihè Honour Thy Woman charity, the Churn Projecl, Forest Pu15e, NÈwent Men's Shed and Homestart Stroud. as well as referred relugee lamilies and indivlduals lrn need. We know through our research and from listening lo our 1g¢al communltles that dlgital exclvsion impacts on opporlunilie5, well-being and the chance lo lully parlicipale in society. And in our ever-connecled digital world, as more sèrvices such as employment. heallhcare and education move online, Ihè urgèncy to reduce digital poverty has nevqr b•en greater. Volunteer Programme We were delighted Ihat a lurlher 76 volunleers were able lo work in both the charitls IT workshop and warehovse. in addition to helping with a number cl office lunttions, represènling a 55°A increase on Ihe previous year. Wilhovl these wonderlul and sèlfless volunteers, we would struggle ID fulfil our commitments to our Programmes in Africa and in Ihe UK. So not only does the charity benellt but volunteers Irequenlly gain uselul skills and experlence lor themselves. olteth going on to lurlher education and employment. Fundralslng actlvltles Our hearllelt appreciation goes lo all organisations and individuals who have kindly provided financial contributions. Without this support it would have been impossible to implement such irnporlant work. changing lives lor Ihe better in all walks of life. The contributions ol major dorbof5 are on page 12. Page 6
THE SA DIGAL TRUST REPORTOFTHETRusfEES FOR THEYEAR ENDED 31 MAY 2024 FINANCIAL REVIEW Financial rvview The charity has successlully navigaled Ils way through the variou5 financial challenges that have arisen during the lasl lew yeafs. This is principally due to the tremendous continuing support from regular and new donors as well as the ellorls by all the slafl to deliver the charitable objeclives in an eflicienl. cosl elleclive manner. The results lor the year show a surplus on unrestricted a¢tivity before translers ol nearly £50.000, compared to a deficit ol Over £IOO,000 in Ihe previous year. a tremendous turnaround in the charity's lirnancial perlormance. The Iruslees chose lo apply this surplus lo the Diglbus project, which Is accounted lor under restricted funding and which therelare required a transler ol É51.262 in respect ol that support. 11 leaves the charity with £95.139 DI unrestricted funds at the end ol the financial year {2023.' É96,3051. Reslricled funds report a delicll for the year lo 31 May 2024 as the charlly Spent funds durlng the year that had bèen retelved in a previous actountiny period. At the year-end, the charily had £59,12412023.. £70,956) ol reslricled lurbd income that it will apply lo the relevanl projects in Ihe year to 31 May 2025 and potentially beyond. Following a revièw ol the Oigibus project il was recognised that the programrne shoLtld be pul bolh'on hold, and restructured at the year end. trustees having prèviously agreed to support the programme out ol un-reslrlcled lunés on an interim basis whtlsl external funding was secured early in the followlng year. Cumulative Talal Funds al the 31 May 2024 are in aggregate a healthy £154,263 {2023.' £167,261) whlch provides a robust platlorm lor the charity lo operale from in lulure years. Rèsèrv•s pollcy The truslees continue lo monitor closely the level ol lunding required by the charfty and io lake approprlate action lo generate this luThding. The Iruslees consider the current level ol accLtmulaled reserves, coupled wllh lunding streams presently in place. Ic be adequate lo support the ¢haritls principal aclSvilles. Inv•slm•nl pollcy and abl•cllv•s Due to the relatively low level ol lunds available for inveslmenl the Iru51ee5 consSder that bank depDsils prgvlde a sa1151aclory return lo the ¢harS1y. FUTURE DEVELOPMENTS ITSA will conlirnue lo delivèr its succèssful projÉcls in Alrita and thè UK, looklng lor opportunities to assist even more stdentS and teachers and Ihuse who are in need DI digital educalion through the schools, local communities. To broaden ils impact. the charity is likely lo engage with more buslnesses and lo recruil additional Iruslees. ITSA also intends to form additional partnerships in Africa. so that compulers may be supplied to even more schools in olher countries. It is hc*ped that thè programme with HMP Whitemoor will grow lurther and that perhaps other HM Prisons might once again choose to engage with the charily's programmes. During Ihe tollowing 12 mDllths ITSA would likp to launth a business club which will provide mulual support both for busirsesses and the work ol the charily. As the charity look5 to expand it5 impact further afield. il will continue to fulfil its mission which is to "transform lives through digital education" both in Alrica and the UK, allowing more and more people lo be lilted oul ol what is called Ihe 'digilal poverty Erap" Page 5
THE rrsA DIGrrAL TRUST REPORT OFTHE TRUSTEES FOR THE YEAR EhlDED 31 MAY2024 STRUCTURE. GOVERNANCE AND MANAGEMENr Governing document The charity is intorporated as a campany limited by guaranlee and therefore it has no share capital. 11 is governed by its Memorandum and Arlicles of Association dated 21 April 2011. In the event ol the CDrnpany being wound up and the liabilities and windaThg (tp expenses being in exces5 01 assets. the liability Lil each member 15 limited to £1. Recruilm•nt and appoinlmenl of n•w Iruslees The power lo appoint Thew Iruslees is vested in survlving and tonlinuiny trusteès. Orgonisotional struclur• The charity is coThlrolled by a eoard ol Iruslee5 whlch meels on a regular bas15. Names ol the Iruslees and dvisers lo the charity are shown on page l ol these financial slalemenls. R•laled p•rtle8 The charity has a Iradlng subsidlary, ITSA Educalion Limited, which was formed in 2008 lo pravide lunds Sn support ol the acllvilies carried on by this charity. Details ol other related party transactions are shown in nole 19 to the linancial stalemet)ts. Rlgk manag•m•nl The trustees have a duly lo Idenlily and revi?w the risks lo which the charity Is exposed and te insure approprlile Controls are in place to provide reasonable assurance against Iraud and error. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees Iwho are also the direclors ol The ITSA Digital Trust lor the purposes ol company lawl are responsible lor preparing the Report of the Trustees and the linancial statemenls in accordance with applicable law and United Kingdom Accounting Standard5 Iunlled Kingdom Generally Accepted A¢¢ounllng Pra¢lS¢el. Company law requlres ihe trustees lo prepare linancial slalemenls lor each linancial year which glve a true and lair vSew ol the 51ale pl allalr5 01 the ch?rltable ¢ompany and ol the Incoming resources ar*d appll¢allon ol resour¢e5, Sncludin4 the Sn¢ome and expendilure, ol the charitablè company for thal period. In preparlng those linancial statements, the trustees are required to sElect suitable accounting policiès and thèn apply them conslsltnlly. observe the mEthuds and principles in the Charity SORP.. make judgemenls and eslimales that are reasonable and prudent., prepare the financial slalemenls on Ihe going toncem basis unless il is inappropriate to presume that the charitable company will continue in business. The trustees are responsible lor keeping proper accounting records which d15c105e with reasonable accura¢y al any lime the liThanclal p0511bon ol the charitable company and to enable thèm to ensure that the Ilnancial stalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol tho charitable company and hence for taking reasonable steps for the prevention and detection ol fraud and oiher irregularilies. This reporl has been prepared in accordance wilh Ihe special provisions of Parl 15 01 Ihe Companies Att 2006 relating 10 Small companies. Approved order ol the board ol truslees on 31 October 2021 and signed on ils behalf by. M R Ratclille MBE - Truslee Page 6
INDEPENDENT EXAMINER'S REPORTTO THETRUSTEES OF THE ttSA DIGITAL TRUST IndepEnd•nt examiner's reporl to the trustees of The ITSA Digital Trust rthe Companll I report lo the charily Iru51ees on my examination ol Ihe accounts ol the Company lor the year ended 31 May 2024. Rosponsibilili•s and basis ol report As the charity'5 Iruslee5 01 the Company land also its directors for the purposes ol company lawl you are responsible lor the preparation of the accounts in accordance with the requiremen15 of the Companies Act 20061.lhe 2006 Acl'l. Having satislied myself Ihat the ac¢ountS DI the Ctsmpany are not required to be audited under Parl16 01 Ihe 2006 Acl and are eligible for independent examination. I report in respect ol my examinatiorn ol yDur charity's accounts as carried out under Section 165 ol the Charities Act 2011 I'ihe 2011 Act'l. In carrying out my examination I have followed the Directions given by Ihe Charity Commission under Section 145151 Ibl ol the 2011 Acl. Ind•p•nd•nt •xaminees gtalemenl Since your charllls gros5 Int¢mè exceèded £250,000 your examiner musl be a member of a listed bvdy. I can confirm that l am qualified to undertake the examination because l am a member ol the Institute ol Chartered Accounlanls in England and Wales, which is one ol Ihe li51ed bodies. I have Completed my examinalion. I confirm Ihal no mallers hav• come lo my allenlion In connection with the examlnatlon yivlng me cause to believe.. accounting records were not kepl in respe¢l ol Ihe Company as required by S•ctien 386 01 the 2006 Act., or the accounls do nol accord wilh those record5; or the accounts do not comply wllh the accounting requirements of Section 396 01 Ihe 2006 Act oiher than any requlremenl Ihal thé atcounts give a Irue and lair view which is not a malter considered a5 parl ol an indepèndent examlnation.. or the accounls have not been prepared in accordance with the mèlhods and principles of Ihe Statement ol Recommended Practice for accounting ènd reporting by charities lappllcable lo charS1ies prépariThg thèir accounts in accordance with the Financlal Reporting Standard appllcable In Ihe UK and Republi£ ol Ireland IFRS10211. I have no concerTr5 and have ¢ome across no olher matters in connection with Ihe examination lo whlch allenllon should be drawn in Ihis report in order to enable a proper understanding DI the accounts tts be reached. Roger Downes FCA 8K Plus Limited 6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL519TX 31 October 2024 Page 7
THE rrsA DIGtrAL TRUST STATEMENT OF FINANCIAL ACMVITIES FOR THE YEAR ENDED 31 MAY 2024 31.5.24 Tolal lunds 31.5.23 Tolèl funds Unrestricted Reslricted fund funds Noles INCOME AND ENDOWMENTS FROM Donations and legacies 66,396 209,296 275,692 2?d,328 Other trading activitie5 Investment income 145.843 145,843 39.583 Tolal 212.2I& 209.296 421.54D 315,911 EXPENDITURE ON Ral$ing funds 17,172 17,172 19,073 Charitabl• acllvlll•s Charitable 144.976 272.390 417,366 395,819 Total 162.148 272.390 434.538 414,892 NET INCOMEI(EXPENDITUREI Transl•rs b•lw••n funds 50,096 151.2621 {63.0941 51.262 112.9981 198,9811 17 N•t mov•m•nt In lund# 11.1661 {11,8321 112,9981 198,9811 RECONCILIATION OF FUNDS Total lund5 brought forward 96.305 70,956 167,261 266,242 TOTAL FUNDS CARRIED FORWARD 95.139 59.124 154,263 167,261 The Doles form parl of these financial slalemenls Paye 8
THE ITSA DIGAL TRUST STATEMENTOF FINANCIAL POSITION 31 MAY 2024 31.5.24 Total lunds 31.5 23 Total funds Unrestricted Restricted fund funds Notes FIXED ASSErs Inve51menls 12 CURRENT ASSErs Debtors Cash al bank and in hand 13 170.645 817 S9.124 229,769 817 2D&,959 14.356 171.462 59.124 23LI,586 219,315 CREDITORS Amounts falling due within one year 14 166,32&) 166,324) 132,0551 NET CURRENT ASSErs 105,138 59.124 164.262 187.260 TOTAL ASSEfs LESS CURRENTLIABILMES 105.139 59,124 16&.263 187,261 CREOITORS Amounts lallinu due aller more Ihan one year 15 110,000) 110,DOO) 120,0001 NFr ASSEfsiiLIA8ILmESI 95.139 59.124 154,263 167,261 FUNDS Unreslricled funds Reslrl¢led funds 17 95,139 59.124 96,305 70,956 TOTAL FUNDS 154,263 167.261 Th8 charitable Company 15 eThlilled lo exemption from audil under Section 477 of the Companie5 Act 2006 lor the year ended 31 May 2021b. The members have not required the company to obtain an audit of its financial statements lor the year ended 31 May 2024 in accordance wilh Section 676 of the Companies Act 2006. The trustees acknowlèdge their responsibililies for lal ensuring that Ihe charitable company keeps accounting records that comply with Sections 386 and 387 01 the Companies Act 2006 and Ibl preparlng financial slatemènts which give a Irue and lair view of ihe state ol allairs ol the charitable company as at Ihe end ol each linancial year and ol ils surplus or deficit lor each financial year in accordance with the requirernenls ol Seclions 394 395 and which otherwise comply with the requiremenls ol Ihe CDmpanies Acl 2006 relaling lo lÉnancial statements. so far as applicable to the charitable company. The notes form part ol these financial slalemen15 Page 9 corlinued...
THE ITSA DIGITAL TRUST STATEMENT OF FINANCIAL posmoN - conlinued 31 MAY 2024 These financial slalemenls have been prepared in accordance with the provisions applicable lo charitable companies sijbject to the small companie5 reuime. The financial slalemenls were approved by the Board of Trustees and aulhorised lor issue on 31 October 2024 and were signed on ils behall bw. M R Ralclille MBE Trustee The notes forni part of these financial slatements Page 10
THE ITSA DIGITAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MAY2024 ACCOUNTING POLICIES Basls of prèparlng thè financial stal•m•nls The financial statements ol ihe charitable company, whtch is a publit benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities prepartng their account5 In ccordallce with the Financial Reporting Standard applicable in the iJK and Republic of Ireland IFRS IC121 lelleclive l January 20191., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Ireland, and the Companies Act 2006. The financial slalemenls have been prepared under the historical cost convenlion. with the exception ol inve51menls which are irncluded al market value. Solng concern As a result of the positive actions that have been laken over the last couple ol years, the tharily remains in a relalively stable financial position al Ihe year-end. However. Ihe Irustees chose to supporl the Dlgibus project out ol unrestricted ltsnds in the year under report and the charity 15 currently operating with a bank overdrali. The Iruslees have considered Ihe cash flow requlremenls ol the charily lor a period ol twelve months from the date ol approval ol these linanrial statements against ils business plan for that period and remain tonlidÈnl that, despite the ongoing uncertaintl05 01 the current economic climate, they will be able to raise sullicienl IvThding to ersable the charity lo continue with ¢vnliden¢e and secvrily. As a result, the Iruslees consider the charity lo be • going coNc•rn and have prepared the Ilnancial slalement5 on thal basis. Pr•p4ratlgn ol consolld•t•d Ilnanclal ¥l•l•m•nl• Thfr financial statements contain inlormation aboul The ITSA Digilal Trust as an Indlvldual company and do not tontèlD consolidated financial inlormalion as Ihe parent of a group. The charity Is exempl under Section 39912AI ol the Companies Act 2006 from the requirements lo prèparè consolidated financial slalemenls. Incom• All income Ss recognised in the Stalemenl ol Financial Activities once the tharlty has Èntltlemenl to the funds. il 15 probable that the income wlll be re¢elved and the amount can be measured reliably. Expèndltur• Liabilities are recognised as expendilure as soon as there Is a legal or constructive obligation committing the charity lo that expendilure. it is prDbable that a Iransler ol economic beTrelils will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounled lor an accruals basis and has been classilied under headings that aggregatè all cost related to the calegory. Where cosls cannol be direclly attributed to particular headings they have been allocated to activitiès on a basis consislent with the use ol resources. Taxatlon The charity is exempl from corporallon tax on its charitable activities. 11 is not. however, exempt from VAT and Irrecoverable VAT is included in the cost ol those items to whirh il relates. Fund accounling Unrestricted funds can be used in accordance with the charitable objettives at the discretion Df Ihe trustees. Restricted funds can only be used lor particular restricled purposes wilhin Ihe objects of Ihe charity. Restrictions arise when specified by the donor or when funds are raisèd ltsr parlicular restricted purposes. Further èxplanation ol Ihe nature and purpose of each fund És included in the notes to Ihe financial stalements. Page 11 continued...
THE rrsA DIGrrAL TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY2024 ACCOUNTING POLICIES - continued Penslon costs and other posl-rellrement benellt5 The charitable company Dperates a defined Contribution pension scheme. Contributions payable lo the charitable CoMpanS pension scheme are charged lo the Statement ol Financial Aclivilie5 in the period to which they relate. OONATIONS AND LEGACIES 31.5.24 31.5,23 Donations Grants 255.692 20,000 265,495 10,833 275.692 276,328 Major donors Foundation Eagle 8¥IT Trust Acces5 Foundation Nominet Members Grant The Haramead Trust Glouteslershiré CC Marllrn Diamon Glouceslershire CommunSly Foundation Big Give Edward Cadbury Trust MJB Charitable Trust Tabhair Charitable Trust Scolt (Eredinel Charitable Trus1 Tabholr Charitable Trusl Donations less than £5.000 79,129 40,000 20,000 20,000 10,000 7.500 7,000 10,000 5,536 5,000 5,000 5,000 5,000 5,000 66,527 Grants received. in¢luded in the abr*ve. are as lollows.. 31.5.2& 31.5.23 National Lottery Nominel Members Grant 10.833 20,000 20,000 10.833 Page 12 CDntinued...
THE ITSA DIGITAL TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MAY 2024 OTHER TRADING ACTIVMES 315.24 31.5,23 Dividend from tradiny subsidiary Other income Costs lunded by 5ubsidTrary 137,510 2,872 5,461 18.211 21,357 145,843 39,583 INVESTMENTINCOME 31.5.24 31.5.23 Oeposil account interest RAISING FUNDS R3l¥lng donatlons and legacl•s 31.5.24 31.5.23 Fundraising costs 17,172 19,073 CHARifABLE AcrvrriES COSTS Dire¢l Cosls (see note 71 Support costs Isee note 81 Totals Charlt3ble 414,874 2,492 417,366 DIRECT COSTS OF CHARITABLE ACTIVITIES 31.5.24 31.5.23 Slalf costs Rates and water Insurance Light and heal Telephone Postage, stationery and advertising Suridries Carriage Repairs and renewals Computer cosls Rent Maintenance Travelling and subsistence Digibus project costs Professional lees Bank charges Service charges Teacher Traininy PrDject C051s 194.848 4.571 4.422 15,960 2,210 901 2,699 12,308 666 7.639 36,149 3,617 172 ID1,210 3,566 497 7,155 16,280 190,853 6.376 4,503 IU,166 1.676 1,519 2.589 10,647 21 5,390 36.149 4,285 471 101.240 307 7,122 9,804 41&,87& 393,118 Page 73 continuEd...
THE ITSA DIGITAL TRUST NOTES TO ThE FINANCIAL STATEMENTS - contirtued FOR THEYEAR ENDED 31 MAY2024 SUPPORT C05rs Govèrnance costs Finance Totals Charitable 637 1.855 2,492 Support costs. included in the above. are as lollows.- 31.5.24 31.5.23 Total Charllable Inleresl payable and Similar charges Independent examination fèés 637 1,855 887 1,814 2,492 2,701 TRUSTEES. REMUNERATION AND 8ENEFITS There were no Iru51ees' remuneration or othèr bènelils lor the year ended 31 May 2024 nor lor the year ended 31 May 2023. Truil•••' •xp•ns•s Ther¢ were no Iruslees, expenses paid lor the year ended 31 May 2024 nor lor the year ended 31 May 2023. ID. STAFF COSTS The average monlhly number of employees during the year was as lollows.. 31.5.2 10 31.5,23 Charllable activities No employees received èmoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled Reslricled lund funds Total funds INCOME AND ENDOwmEs FROM Donations and legacies 46,879 229,449 276.328 Other Irading aclivilles 39.583 39,583 TotaL 86,462 229,449 EXPENDITURE ON Raising funds 19.073 19.073 Charitable a¢tiviti•s Charitable 179,725 216.094 395,819 Total 198.798 216.094 414.892 Page 14 continued...
THE rrsA DIGITAL TRUST NOTES TO THE FINANCIAL STATEMErs- continued FOR THE YÉAR ENDED 31 MAY 2024 COMPARATIVES FOR THE STATEMENT OF NANCIAL ACTrVmES- conlinued Unrestricted Rèstricted fund funds Total lund5 NINcomE/{EXPEND1TuRE) Translers between lund5 {112.3361 {12.3791 13,355 12,379 198,9811 Nèl movèment In lunds 1124.7151 25,734 198,9811 RECONCILIATIOM OF FUNDS Total lund5 brought forward 221,020 45.222 266,242 TOTAL FUNDS CARRIEO FORWARD 96,305 70,956 167,261 12. FIXED ASSET INVESTMENTS Shares in group underlaklngs MARKET VALUE At l June 2Q23 and 31 May 2024 NET BOOK VALUE Al 31 May 2024 Al 31 May 2023 There were no inve51menl assels oulside the UK. The company's inveslments al the balance sheet dale in the share ¢apilal of companies include tho lollowing.. ITSA Educallon Llmlted Reglslpred ollice.. Wolseley House, Oriel Road, Chellenham. Gloucestershire. GL50 ITH Nature ol business.. IT TrainiThg & Education Class ol share: Ordinary holding 100 Ouring the year profits were paid up lo the Charity by way ol dividend under deed ol covenant from its trading subsidiary. ITSA Education Limited, 91 £137,51012023: É18.211}. Page 15 continued...
THE ItsA DIGrrAL TRusr NOTES TO THE HNANCIAL STATEMEMfs - continued FQR THEY£AR ENDED 31 MAY 2024 13. DEBTORS.. AMOUNTS FALLSNG DUEWtrHIN ONEYEAR 31.5.24 315.23 Due from subsidiary Prepèymenls and accrued income 224.791 ,978 197,621 7,338 229,769 204,959 14, REDITORS- AMOUNTS FALLING DUEWITHIN ONE YEAR 31.5.24 31.5 23 Bank loans and overdrafts (see note 161 Trade creditors Social security and other taxes Olher creditor5 Accruals and deferred income 34,685 19,248 2,915 2,836 6,640 10,ooD 8.649 3,340 1.136 8.930 66,324 32,055 15. CREDITORS.. AMOUNTS FALLING DUE AFfER MORETHAN ONE YEAR 31.5.24 31.5.23 Bank loans Isee note 161 10,000 20,OQO 16. LOANS An analysls of Ihe maturily ol loans Is given belo. 31.5.24 31.5.23 Amounts falling due within one year on demand.. Bank overdralls Bank loans 24,685 10.000 10,000 34,685 10,000 Amounts falling between one and two years: 8ank loans 10,000 20,000 Page 16 continved...
THE ITSA DIGITAL TRUST NOTES TO THE FlhtANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MAY 2024 17. MOVEMENTIN FUNDS Nel movement in lund5 Transfers belweern funds Al 31.5.24 At 1.6.23 Uhreslrlcted lunds Gtneral fund 96.305 50,096 151,2621 95,139 Reslricled lunds Belt Trust IT Teacher Training programme Zambla Dlgibu5 ProSecl Big Give Christmas Challenge Entrepreneurial skills Malawi Malawi Slarler Pack scheme IT Lab PrDject Malawi IT Teacher Training programme Zimbabwe Kenya Shipping C0519 18.889 f1391 18.150 3.500 13.5001 151.2621 51,262 1.662 25.955 7.250 1,662 125,9551 17,2501 33,810 33,810 8.700 5.000 18,1981 502 5.000 70,956 163,0941 51,262 59,124 TOTAL FUNDS 167.261 112,9981 154,263 Nel mov•m8nl Sn funds, Included in Ihe abovè are as follows: Incoming rtsourcès Resr*ur¢es expended Movement in funds Uhr•$lrltt•d lunds General fund 212,244 1162,1481 5Q,096 Reslrlcled lunds 8eit Trusl IT Teacher Training programme Zarnbia IT Lab Projèct Zimbabwe Tech Connect Digibus Project Zambia '8kJy One Gel One, stheme Entreprèneurial skills Malaw Malawi Starler Pack scheme IT Lab Prcsjecl Malawi IT Teacher TralnSny programme Zimbabwe 40,000 {&0.7391 391 12.780 4.500 io.000 9,952 2.250 116,2801 14.5001 110,0001 13,5001 151,2621 12,2501 125,9551 122.6151 137.9391 125,9551 Cl,2501 33.810 15,365 71.749 2.700 110.8981 {8,1981 209,296 1272,3901 163,0941 TOTAL FUNDS 421.540 (434,5381 112.9981 Page 17 continued...
THE rrsA DIGrrAL TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THEYEAR ENDED 31 MAY 2024 17. MOVEMENT IN FUNDS - conlihue41 Comparallves for movemenl in lunds Nel movement In lunds Transfers betwee lunds At 31.5.23 Al 1.6.22 UThr•3lricted funds General fund 221.020 1112,3361 112.379) 96,305 Restricted funds Bell Trust IT Teacher Tralning programmè Zambia Digibus Project Big Glve Christmas Challenge Enlrepreneurial skills Malawi Malawi Slarler Pack scheme IT Teacher Trainlng programme Zimbabwe Kenya Shipping Costs 20,544 11.6551 18,889 3.004 496 (12,3791 3,500 12,379 13,374 8.300 1,662 25.955 7,250 7.250 8,700 5.000 8.700 5.000 45,222 13,355 12,379 70,956 TOTAL FUNDS 266.242 {98.9811 167,261 Comparative nèt movemÈnt in funds. included in thè èbove are as follows.. Incomlng resour¢es Resources èxpendèd Movement in funds Unr•slrict•d fvnds General fund B6,462 {198,7981 1112.3361 R•slrlct•d fvnds Bell Trust IT Teacher Train4ng programme Zambi Tech Connect Digibus Project Biy Give Christmas Challenge Entrepreneurial ski115 Malawi Malawi SlartEr Pack scheme IT Lab Project Malawi IT Teachèr Training programme Zimbabwe Kenya Shipplng Costs 35,000 {36.6551 11.6551 10,300 39,30D 88,861 19.804} 139,3001 1101,24DI 496 (12,3791 17.655 7.2SO 17,383 17,655 7,25Q 117,3831 8,7QO 5.000 8,70Q 5,OOQ 229,449 {216,Q941 13,355 TOTAL FUNDS 315,911 1414.8921 198,9811 Page 18 continued...
THE fTSA DIGAL TRusr NOTES TO THE FINANCIAL STATEMENTS- cont5nued FOR THEYEAR ENDED 31 MAY 2024 17. MOVEMENT IN FUNDS - continued Bell Trust Generou51y provide specific lunding lor transporl and related costs to ship rr equlpmenl from Cheltenham to the various African country programmes. IT Teacher TraSnlng in Zambla Provision ol ICT training courses lor teachers and school leaders in Zambia, delivered by ITSA'S in-country partner Compulers for Zambian Schoo15, to improve digital eitu¢atign in schools. Tech Connect Our local outreach project in Gloucestershire where we provlde good quallty refurbishèd IT quipment and lechnical support lo local organisalioThs, cornmtsnily c2ntre5. job clubs, schcols. refugee groups, coding and youth clubs all supporting rnarginalisEd and disabled groups and recruit, train and managè a tohorl ol Digital Champions to assist individuals with their digital 5klll5. Dlglbus Projecl Our Prolecl Manager and tèam ol trainèrs continued to prov5de Iree-of-charge IT Support and skllls Iralnlfig lo cit12ens ol all agès throughout GIoLtrcestershire. wilhin our mission lo reduce dlgllal dèprivation by giving people in the UK and Alrica greater acce55 to IT equipment and IT skills. Blg Glve Chrlstmo5 Challenge Participation in the annual Big Give Chrlslmas Challenge enabled ITSA lo ralse funds towards Ils Slarler Pack programme, providing sels of 10 refurbished computers lo low-incom• Schools in Malawi. Entreprenturlal Skllls Malawl The objective ol the project is lor sludenls lo gain vocational and enlrepreneLtrlal skills wilh the alm ol improvlng Ihelr future livtlihoods. Malawl Starter Pack Sch•m• The scheme is to provide sels 0110 refurblshed compulers lor low-income schools in Malawl. IT Lab ProSocl Malawl Tho project is lo provlde lull IT labs lo low-lncome schools In Malawi, complete with 30-50 relurbished and networked computers. a laplop lor Ihe teacher. a projeclor and inlernel conneclivity. IT Teachor Tralnlng In Zlmbabwe Provision of ICT training courses lor leachers and school IEaders in Zimbabwe. delivered by ITSA. in-counlry partner IT Education Zimbabwe. to improve digital education in schools. Kenya Sh5pplng Cosls Shipment costs lor computers sent to Kenya. Zzmbla 'Buy One Gel One. schem• Set up to eThcourage more schools. e5Petially those in the more disadvantaged, rural area5 01 Zambla, to Invest in IT èquipmenl. The computers give pupils, teachers and the wider comMuNity access to basic IT skills and inlormation acces5. IT Lab Project Zimbabwe The project is to pfDvide full IT labs to low-income schools in Zimbabwe, tomplete with 30-50 refurbished and networked computers. a laptop for the teacher. a projector and internel connectivity. Page 19 continued,..
THE ITSA DIGrrAL TRUST NOTES TO THE FINANCIAL sTATEME[s- continued FOR THEYEAR ENDED 31 MAY 2D24 17. MOVEMENT IN FUNDS - conlinu•d Translers between funds Transfers are made between reslricled and unrestricted funds al Ihe end ol every accounting period cases where.. il the activity ol the restricted ItFnd has come lo an end and there is an unspent balance that is not repayable lo the lunderlsl, when the surplus is Iranslerred to unrestricted funds., or ill the restrictèd fund has come lo an end and Ihere is no prospect ol a surplus in a later period. when the delicil is eliminated by transfer from unreslricled fund5. 18. CONllNGENT LIABILMES Various lunders retain the right lo claw back grants should the use of the funds not be in accordance wllh the terms ol the grant. In the oplnlun ol the Iru51ees no su¢h liabillly exists at the year end. 19. RELATED PARTY DISCLOSURES ITSA Educallon Llmlled Subsidiary company Durlng the year proflls were pald up Its the Charlty by way ol dlvidend under deed of covenant from 115 trading 5ub5idiary, ITSA Edu¢otion Limited. ol £137.51012023'. £18,211) and £5,46112023.' £21,357101 Oigibus project costs were incurred in and lundEd by Ihe subsidiary company. At the ytar ènd £224,79112023= E197,6211 was due Irom the subsidiary. M R Ratcllffè Consullanls Llmltèd Related by reason of some common directors The related p3rly charges expenses lo The ITSA Digital Trust, on an arms length basls. The expenses charged in the year were É16.392 12023.. £14.2371. Al the year end Ihe charily owed the relaled party £4.212. M R Rattllfle Consultants R*tlrèm•nl Benefll Schem• Relaled by reason ol some common Truslees The relaled party chargès The SA Diyilal Tru51 rent lor using two of ils properties., this is tharged al 50/4 01 the market value. The related party also charges service costs and other expenses lo The ITSA Digital Tnjst.. this is al 100% ol the value. The rent and expeThses charged in the year were £16,27512023.. È16,2751. Al Ihe year end the charity owed the related party E4,069. M R Ralclilf• MBE Truslee The related party charges The ITSA Digilal Trust renl for using two of his properties arbd service charges for four of his properties,. this 15 charged at market value. The total charged in the year wa5 £26,99712023. £26.9971. Page 20