Knowledge 4 All Foundation Annual report and Unaudited Financial Statements For the year ended 31 March 2021 Charity Registration No. 1146318 Company Registration No. 07013555 (England and Wales) **Knowledge 4 All Foundation Contents** ||**PAGE**| |---|---| |Legal and Administrative Information|1| |Report of the Directors and Trustees|2 - 4| |Independent Examiners' Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes forming part of the Financial Statements|8 - 13| **Knowledge 4 All Foundation Legal and Administrative Information** ## **Directors** C. De La Higuera D. Mladenic J. Shawe-Taylor M. Jermol M. Grobelnik R. Ghani ## **Charity Number** 1146318 ## **Company Number** 07013555 ## **Registered Office** Betchworth House 57-65 Station Road Redhill Surrey RH1 1DL ## **Principal Office** Department of Computer Science University College London Gower Street London WC1E 6BT ## **Independent Examiners** Moore Kingston Smith LLP Betchworth House 57-65 Station Road Redhill Surrey RH1 1DL Page One ## **Knowledge 4 All Foundation Report of the Directors and Trustees For the year ended 31 March 2021** The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in July 2014. ## **Constitution and objects** Knowledge 4 All Foundation (also known as K4A) is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association dated 9 September 2009, which were amended by a special resolution on 8 February 2013. Charitable status was awarded on 9 March 2012 and the company started to operate as a charity from 1 April 2012. The company is referred to as "the charity" throughout this report. The objects of the charity are to advance education by promoting and facilitating equality of access to scientific and academic knowledge of educational value, without discrimination of any particular kind. This is to be done by the use of electronic media and particularly (but not exclusively) for developing countries. ## **Trustees (Board of Directors)** C. De La Higuera, D. Mladenic, J. Shawe-Taylor, M. Jermol, M. Grobelnik and R. Ghani were Trustees of the charity throughout the year ended 31 March 2020. They are also directors for the purposes of company law. The range of expertise of the trustees is reviewed periodically to ensure it remains suitable for the needs of the Charity. If additional expertise is required, targeted recruitment takes place. If expertise is considered superfluous then discussions are held with the trustees to discuss their interest in remaining involved in the Charity. ## **Public Benefit** We have referred to the guidance in the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. ## **Achievements and performance** The Knowledge 4 All Foundation promotes the spread of knowledge and vivid academic debate to anyone with access to the internet anywhere in the world. It therefore benefits all those interested in academic knowledge and debate, where they do not currently have immediate access to such resources and debate. It also helps to develop more widespread interest in such resources and debate. The Foundation promotes the open access to academic resources (such as video lectures, learning objects, paper, reports, books, and scientific data), together with tools to give users access to these resources and to match them to their needs. Furthermore, the Foundation aims to help overcome the barriers of limited discoverability and accessibility, as well as enable interaction between users and providers, and among users with common interests. It is a forum where creators, technology developers, managers and users of such resources and tools can meet to actively promote the free availability and distribution of such content and tools, as well as develop strategies for fostering interactions between users and providers and among users with common interests. In this period the Foundation was heavily involved in delivering work in the X5GON, which is a project funded by the European Commission through the H2020 Programme for research and technological development. The consortium contains 8 partners from 5 European countries (Slovenia, Germany, Spain, France, and UK). Launched on 1 September 2017 by a consortium made up of four European universities: University College London (UCL), Universitat Politecnica De Valencia (UPV), Universite De Nantes (NA), Universitaet Osnabrueck (UOS), a research focused institute, the Institute Jozef Stefan (JSI), an industrial and for profit partner Post office Slovenia (PS), and the Government of the Republic of Slovenia via the public body Slovenian Ministry of Education, Science and Sport. It was extended due to the COVID-19 pandemic and ran until March 2021. Furthermore, the Foundation was successful in being awarded with a new research grant by the European Commission. The grant involves the H2020 research project “ELISE - European Network of AI Excellence Centres”, an EU-funded project which started in September 2020, aiming to increase Europe’s competitiveness in ML and AI through a network of excellence. It will run a PhD and a postdoc programme to attract world-class talents to Europe. Moreover, it will operate a Fellows programme for ground-breaking research and organise high-profile workshops to develop AI application methods further. Industry involvement is guaranteed by the many connections of the ELISE members. Page Two **Knowledge 4 All Foundation Report of the Trustees (Continued) For the year ended 31 March 2021** ## **Financial Performance and Reserves Policy** The Charity's income decreased this year to £202,544 (2020: £387,988). Total expenditure decreased to £271,917 (2020: £364,778), resulting in a deficit of £69,373 (2020: surplus £23,210). This is in the most part due to no income being received from charitable activities in the year. The charity’s reserve policy is to aim to retain sufficient funds to cover the operational costs for the following year. These would include any legal, insurance and accountancy fees together with other costs associated with the maintenance of the charity. We judge that this will ensure a sufficient cushion with respect to unexpected expenditure and delays in securing additional income. At the Balance Sheet date unrestricted funds had decreased to £37,832, representing 1.6 months expenditure. (2020: 3). The Charity's business model is dependent on successful bidding in European Commission research projects, therefore the spending commitments, potential model is dependent on liabilities and financial forecasts are in line with the Commission's funding cycles. ## **Plans for the future** The Foundation will invest in strengthening relationships with AI research excellence centres across the Global South to facilitate their collaboration and networking. It will also seek to work closely with the Internatioanl Research Centre in Aritificial Intelligence (IRCAI) in Ljubljana, Slovenia. The objective of this partnership is to assist IRCAI in developing international projects. These plans also expected to contribute to further promotion of artificial intelligence and open education, particularly through engagement with academic institutions, EU and African governments and organisations in the development of policies and regulations; inclusive and ethical AI applications; and infrastructure and skills. ## **Trustees' responsibilities in relation to the financial statements** The Trustees (who are also directors of Knowledge 4 All for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.) Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page Three ## **Knowledge 4 All Foundation Report of the Trustees (Continued) For the year ended 31 March 2021** ## **Small Companies Exemption** This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 Approved by the Trustees and signed on their behalf by: ## **J. Shawe-Taylor** > **Date:** 6/3/2022 Page Four **Independent Examiner's Report to the Trustees of Knowledge 4 All Foundation ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. ## **Responsibilities of basis of report** As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent Examiner's Statement** Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: - 1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or - 2) the accounts do not accord with those records; or - 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or - 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Betchworth House 57-65 Station Road Redhill Surrey RH1 1DL **DAVID MONTGOMERY For and on behalf of Moore Kingston Smith LLP** Chartered Accountants ## **Date:** Page Five ## **Knowledge 4 All Foundation Statement of Financial Activities (including Income and Expenditure Account) For the Year to 31 March 2021** |**For the Year to 31 March 2021**||||| |---|---|---|---|---| |**Note**
**INCOME AND ENDOWMENTS**
Donations and Legacies
**3**
Charitable Activities
**4**
**Total Operating Income**
**EXPENDITURE**|**Unrestricted**
**Funds**
**2021**
**£**
51,849
-
51,849|**Restricted**
**Funds**
**2021**
**£**
150,695
-
150,695|**Total**
**Funds**
**2021**
**£**
202,544
-
202,544|**Total**
**Funds**
**2020**
**£**
249,762
138,226| |||||387,988| |||||| |Charitable activities
**5**|44,929|226,988|271,917|364,778| |**Total Operating Expenditure**
**Net Operating Income**|44,929
6,920|226,988
(76,293)|271,917
(69,373)|| |||||364,778| |||||23,210| |**Transfers between funds**|(62,525)|62,525|-|-| |**Net movement in funds**|(55,605)|(13,768)|(69,373)|23,210| |Total Funds bought forward|93,437|92,219|185,656|162,446| |**Total Funds carried forward**|37,832|78,451|116,283|185,656| The statement of financial activities includes all gains and losses recognised in the year and all income and expenditure derives from continuing activities. Page Six ## **Knowledge 4 All Foundation Balance Sheet As at 31 March 2021** |**Note**
**Current Assets**
Debtors
**9**
Cash at bank
**Creditors: Amounts falling due**
**within one year**
**10**
**Total Assets Less Current Liabilities**
**Funds**
Unrestricted funds:
Restricted funds
**Total Funds**|**£**
**£**
3,197
117,326
120,523
(4,240)
116,283
37,832
78,451
116,283
**2021**|**£**
**£**
2,969
186,621
189,590
(3,934)
185,656
93,437
92,219
185,656
**2020**|**£**
**£**
2,969
186,621
189,590
(3,934)
185,656
93,437
92,219
185,656
**2020**| |---|---|---|---| ||||93,437
92,219| ||||185,656| For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of the financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of the Financial Reporting Standard 102. Approved by the Board on ………………………. and signed on their behalf by:6/3/2022 ................................................................ **J. Shawe-Taylor** Trustee Company Registration No. 07013555 Page Seven **Knowledge 4 All Foundation Notes to the Financial Statements For the Year Ended 31 March 2021** ## **1. Status** The company is limited by guarantee and does not have share capital. Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up during the time that he is a member or within one year after he ceases to be a member, for the payment of the debts and liabilities of the company contracted before he ceased to be a member, such amount as may be required not exceeding £10. The company is a registered charity. ## **2. Accounting Policies** ## **(a) Basis of preparation** The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charitable Company is a public benefit entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011. The financial statements are prepared in sterling, which is the functional currency of the Charitable Company. Monetary amounts in these financial statements are rounding to the nearest pound. ## **(b) Going Concern** The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charitable company's forecasts and projections and have taken account of pressures on donation income After making enquiries the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements. Equally the trustees have considered the impact of COVID-19 on the Charity and what the impact can potentially be by end of 2022. As a result of the COVID-19 pandemic, the group has seen significant disruption in its operations. However, general work and research work across projects were stable during all quarters of the financial year. Output was not significantly impacted as the charity did not close or lose projects in the wake of COVID-19. ## **(c) Incoming Resources** All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. Income is deferred when the donor attaches conditions outside the Charity's own control or specifies that the resources are to be used in a future accounting period. ## **(d) Rescources Expended** Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is analysed between Direct and Support costs based on the nature of the expense. Governance costs comprise the cost of running the charity, including external accountancy, Trustees' legal advice and constitutional and statutory compliance costs. These have been included in support costs. Page Eight **Knowledge 4 All Foundation Notes to the Financial Statements (Continued) For the Year Ended 31 March 2021** ## **(e) Fund Accounting** Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for charitable purposes. ## **(f) Foreign Currency** Transactions in foreign currencies are translated to sterling at the exchange rate on the date of the transaction. ## **(g) Critical Accounting Estimates and Areas of Judgement** In the view of the trustees, in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. ## **(h) Cash Flow Statement** The charity has taken the exemption available in paragraph 7.1B of FRS102 and has not prepared a cash flow statement. ## **(i) Financial Instruments** ## **Cash and cash equivalents** Cash and cash equivalents include cash at bank and in hand and short term deposits with a maturity date of three months or less. ## **Debtors and creditors** Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest. ## **3. Voluntary Income - Donations and Legacies Year to 31 March 2021** |Unesco
European Commission: HumaneAI
European Commission: Elise
European Commission: Encore+
AI4D & Ai4D2
Cooperative Workshop
**Year to 31 March 2020**
University College London
Deutshes Forschungszentrum fur kunstliche intel
Landesoberkasse Baden-Wuertt Steinhaeuerstr
Association for Computing Machine
International Development Research Grant|**Unrestricted**
**funds**
**2021**
**£**|**Restricted**
**funds**
**2021**
**£**|**Total**
**Funds**
**2021**
**£**| |---|---|---|---| ||4,436
17,947
19,369
6,750
1,942
1,405
51,849|5,502
53,841
58,106
20,250
12,996
-
150,695|9,938
71,788
77,475
27,000
14,938
1,405| ||||202,544| ||**Unrestricted**
**funds**
**2020**
**£**|**Restricted**
**funds**
**2020**
**£**|**Total**
**Funds**
**2020**
**£**| ||6,207
6,200
4,647
-
23,334
40,388|18,622
18,601
13,941
2,053
156,157
209,374|24,829
24,801
18,588
2,053
179,491| ||||249,762| Page Nine **Knowledge 4 All Foundation Notes to the Financial Statements (Continued) For the Year Ended 31 March 2021** ## **4. Income from Charitable Activities** **Year to 31 March 2021** |Event sponsorship
**Year to 31 March 2020**
Event sponsorship|**Unrestricted**
**funds**
**2021**
**£**
-
-
**Unrestricted**
**funds**
**2020**
**£**
-
-|**Restricted**
**funds**
**2021**
**£**
-
-
**Restricted**
**funds**
**2020**
**£**
138,226
138,226|**Total**
**Funds**
**2021**
**£**
-|**Total**
**Funds**
**2021**
**£**
-| |---|---|---|---|---| |||||-| ||||**Total**
**Funds**
**2020**
**£**
138,226|| |||||138,226| ## **5. Expenditure** **Year to 31 March 2021** |**Expenditure directly allocated to activities**
Wages and salaries
Direct travel expenses
Consultancy
**Support costs allocated to activities**
Independent examiner fees
Legal and professional fees
Bank charges|**Unrestricted**
**funds**
**2021**
**£**
-
-
31,702
3,984
7,242
2,001
44,929|**Restricted**
**funds**
**2021**
**£**
83,937
2,421
140,630
-
-
-
226,988|**Total**
**Funds**
**2021**
**£**
83,937
2,421
172,332
3,984
7,242
2,001|**Total**
**Funds**
**2021**
**£**
83,937
2,421
172,332
3,984
7,242
2,001| |---|---|---|---|---| |||||271,917| Page Ten **Knowledge 4 All Foundation Notes to the Financial Statements (Continued) For the Year Ended 31 March 2021** ## **5. Expenditure (continued)** ## **Year to 31 March 2020** |**Expenditure directly allocated to activities**
Wages and salaries
Direct travel expenses
Consultancy
**Support costs allocated to activities**
Independent examiner fees
Legal and professional fees
Bank charges|**Unrestricted**
**funds**
**2020**
**£**
-
-
21,119
3,600
3,590
1,490
29,799|**Restricted**
**funds**
**2020**
**£**
77,870
59,609
197,500
-
-
-
334,979|**Total**
**Funds**
**2020**
**£**
77,870
59,609
218,619
3,600
3,590
1,490|**Total**
**Funds**
**2020**
**£**
77,870
59,609
218,619
3,600
3,590
1,490| |---|---|---|---|---| |||||364,778| Included within support costs are governance costs of £11,226 (2020: £7,190). ## **6. Employee Costs** |Wages and salaries
Employer's NIC
Employer's Pension Contribution||**2021**
**£**
78,250
5,374
1,313
84,937||**2020**
**£**
72,000
4,555
1,315| |---|---|---|---|---| |||||77,870| There was one part time employee (2020: 2) and one full time employee (2020: nil) employed by the charity in the year. No employee earned over £60,000 during the year. ## **7. Trustees and Key Management Personnel** Key management personnel include the Trustees of the Charity and the principal Researcher. The total employee emoluments of the charity's key management personnel were £66,250 (2020: £60,000). During the year no expenses were reimbursed to trustees (2020 £Nil). Trustees received no remuneration during the year. ## **8. Taxation** The Company is not liable to Corporation Tax as the income is of an exempt nature. ## **9. Debtors** |Other debtors|**2021**
**£**
3,197|**2020**
**£**
2,969| |---|---|---| Page Eleven **Knowledge 4 All Foundation Notes to the Financial Statements (Continued) For the Year Ended 31 March 2021** ## **10. Creditors: Amounts falling due within one year** |**Creditors: Amounts falling due within one year**||||| |---|---|---|---|---| |Tax and social security
Accrued expenses||**2021**
**£**
256
3,984
4,240||**2020**
**£**
259
3,675| |||||3,934| All creditors with the exception of tax and social security are financial instruments and are measured at present value. ## **11. Movement in Funds** |**Unrestricted Funds**
**Restricted Funds**
TraMOOC
MicroHe
X5GON
UNESCO
A14D
ACM
Deep Learning
Humaneai
European Commission: Elise
European Commission: Encore+
**Total Funds**|**At 1 April**
**2020**
**£**
93,437
4,601
(47,672)
(19,371)
(3,825)
141,300
2,053
12,979
2,154
-
-|**Incoming**
**Resources**
**£**
51,849
-
-
-
5,502
12,996
-
-
53,841
58,106
20,250|**Outgoing**
**Resources**
**£**
(44,929)
-
(3,228)
(83,934)
(1,295)
(116,090)
-
(21,691)
-
-
(750)|**Transfers**
**£**
(62,525)
-
43,744
19,163
(382)
-
-
-
-
-
-|**At 31 March**
**2021**
**£**
37,832| |---|---|---|---|---|---| ||||||4,601
(7,156)
(84,142)
-
38,206
2,053
(8,712)
55,995
58,106
19,500| ||92,219
185,656|150,695
202,544|(226,988)
(271,917)|62,525
-|78,451
116,283| ||||||-| Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects. The Encore+, HumaneAI and Elise projects are funded by the European Commission in the Erasmus+ and H2020 work programme, respectively ending in 2023. The UNESCO and AI4D projects have been in the process of finalisation. MicroHe aims to produce tools for micro-credentials, X5GON is building an infrastructure for global access to Open Educational Resources, Encore+ aims to produce a European Network for Catalysing Open Resources in Education and the uptake and innovation of Open Educational Resources, HumaneAI aims to lay the basics for a new science in Artificial Intelligence, and ELISE is a network of artificial intelligence research hub, the AI4D project aims at kick starting a Network of Excellence in Artificial Intelligence in Sub-Saharan Africa. The Deep Learning Indaba is a community of researchers with the aim of “Strengthening African Machine Learning” and it acts as a vehicle to support Africa's community in AI to be owners and shapers of the advances in technology and artificial intelligence. The deficit that has arisen on the MicroHE fund is due to the last tranche of funding not yet being received. The deficit that has arisen on the X5GON fund is due to the last tranche of funding not yet being received. The deficit that has arisen on the Deep Learning fund is due to the next tranche not yet being received. Page Twelve ## **Knowledge 4 All Foundation Notes to the Financial Statements (Continued) For the Year Ended 31 March 2021** ## **12. Allocation of Net Assets between Funds** |**Allocation of Net Assets between Funds**||||| |---|---|---|---|---| |Unrestricted fund
Restricted funds|**Fixed**
**Assets**
**£**
-
-
-|**Current**
**Assets**
**£**
42,072
78,451
120,523|**Current**
**Liabilities**
**£**
(4,240)
-
(4,240)|**Total**
**£**
37,832
78,451| |||||116,283| Page Thirteen