Company registration number: 7921757 Charity registration number: 1148679
## WONDER Foundation
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
## **WONDER Foundation**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 15|
|Independent Auditors' Report|16 to 18|
|Statement of Financial Activities|19|
|Balance Sheet|20|
|Statement of Cash Flows|21|
|Notes to the Financial Statements|22 to 30|
## **WONDER Foundation Reference and Administrative Details**
**Chair** Raphaella Gabrasadig Ami Encarnacion (resigned as Trustees Chair on the 20/11/2023) **Trustees** Alejandra Fabrega Modupe Da-Silva Uzoma Igboaka Ekene Ngwuocha Kirtana Raj Julie Hudtohan (appointed on 16/04/2024) **Charity Registration Number** 1148679 **Company Registration Number** 7921757 **Registered Office** 300 - 302 Brixton Road London SW9 6AE **Auditor** Goldwins 75 Maygrove Road West Hampstead London NW6 2EG **Bankers** HSBC Bank PLC Lion House 25 Islington High Street London N1 9LI CCLA Investment Management 1 Angel Lane London EC4R 3AB
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## **WONDER Foundation Trustees' Report**
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Alejandra Fabrega Modupe Da-Silva Uzoma Igboaka Ekene Ngwuocha Kirtana Raj Julie Hudtohan (appointed on 16/04/2024) Chair: Raphaella Gabrasadig Ami Encarnacion (resigned as Trustees Chair on the 20/11/2023)
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is a company limited by guarantee and registered charity. It was incorporated on 24 January 2012 and is operated under the rules of its memorandum and articles of association dated 21 March 2023. It has no share capital and the liability of each member in the event of winding-up is limited to £1.
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## **WONDER Foundation Trustees' Report**
## **Introduction**
The 2024 Annual Report for WONDER Foundation highlights a year of significant achievements and strategic growth. This year we reached 21,057 women and girls across 23 countries, of whom 4,570 completed accredited training. There were notable increases in the number of mothers participating in our projects which has over doubled, and there has also been an increase of almost 20% of the number of volunteers and staff actively mentoring participants, with 259 staff members receiving mentoring training. Our efforts have led to a majority of students more than doubling their income after graduation, demonstrating the tangible impact of our projects. Furthermore, we have maintained a healthy income and appropriate reserves to ensure sustainability. Moving forward, we aim to enhance our individual donor base, continue to grow our successful partnerships and further embed mentoring, while deepening our commitment to safeguarding policies across all projects.
## **Objects and aims**
As set out in our governing document, the charity’s objects ("Objects") are specifically restricted to the following:
1. The advancement of education amongst, but not exclusively, women and girls by developing or improving the necessary knowledge or skills for living a fulfilled, safe, healthy, or self-sufficient life.
2. The prevention or relief of poverty amongst, but not exclusively, women and girls.
3. The relief of those in need by reason of youth, age, ill-health, disability, financial hardship, or other disadvantage in particular, but not exclusively, women and girls affected by exploitation, domestic abuse, and forced marriages.
4. Promotion of efficiency and effectiveness in the charitable activities of not-for-profit organizations, voluntary groups, and charities working for the benefit of the public.
## **Our Mission**
At WONDER Foundation, our mission is to empower women, girls, and their communities through access to quality education so they can transform their lives and exit poverty for good.
## **Our Vision**
- Women and girls are empowered to make informed life choices and lead the way in their own personal development.
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- Education is recognized as a quality investment and a long-term solution for solving poverty.
- Personal growth is recognized as a process that takes time and can be supported through mentoring. Every person is valued, and their dignity is respected.
- Development projects celebrate local knowledge and aim to learn from and listen to the communities they serve.
- Families are regarded as a fundamental support system, and their positive economic and social impact is recognized.
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## **WONDER Foundation Trustees' Report**
## **Objectives, strategies, and activities**
## **How We Achieve Change**
WONDER's approach revolves around six core pillars that form the basis of our projects. We partner with local organizations that align with these principles to steer our efforts and bring about meaningful change.
1. **Quality Education** : Our education projects recognize that quality education is not just about being in the classroom. Through both traditional school settings and vocational programs, we help women and girls strengthen and develop skills, such as confidence and goal setting, that improve day-today life in a sustainable way.
2. **Accompaniment and Mentoring** : The lived experiences of women and girls in our programs often mean they do not have access to the resources they need to succeed both during and following their education. By pairing quality education with mentoring, we give women and girls a sense of dignity and self-worth so they can become leaders in their own lives and role models to others in their families and communities.
3. **Investing in Local, Women-Led Partners** : We work with carefully chosen local women-led organizations who share our mission of empowering women and girls through education. We listen to their expertise and invest in their capacity to respond to local needs and deliver transformative and sustainable education projects.
4. **Empowering Spaces** : We recognize that poor infrastructure and unsafe environments act as direct barriers to education. Our partners deliver projects in spaces that make women and girls feel comfortable and safe, so they can feel valued, focus on their studies, and develop a sense of community.
5. **Sustainable Employment** : We want the women and girls we work with to find safe, stable employment once they finish their education. Our partners ensure that their programs set women up for success, either by providing business opportunities or developing in-demand skills. We work with industry partners to raise employment standards and ensure women and girls recognize and claim their rights in the workplace.
6. **Family Engagement** : Families are both a support system for women and girls and often a responsibility for them to look after. It is, therefore, critical to consider the family’s role in the learning, opportunities, and aspirations of women and girls. We encourage family support and engagement in education, which leads women and girls to invest their learning back into supporting other family members.
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## **WONDER Foundation Trustees' Report**
## **Our Theory of Change**
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## **WONDER Foundation**
## **Trustees' Report**
## _**Public Benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and Performance**
## **Where We Work**
This year, we worked in 23 countries with 35 local partners:
- **Africa (7 countries, 8,384 women):** Cameroon, DR Congo, Ivory Coast, Kenya, Nigeria, South Africa, Uganda
- **Americas (7 countries, 3,549 women):** Bolivia, Brazil, El Salvador, Guatemala, Honduras, Venezuela, Peru
- **Asia (4 countries, 4,331 women):** India, Kazakhstan, Lebanon, Philippines
- **Europe (5 countries, 4,793 women):** Poland, Slovenia, Spain, Sweden, UK
## **Our Impact in 2023-24 at a Glance**
- 21,057 girls and women directly reached, alongside their communities, 13,006 women received formal or informal education, 4,577 participants who were mothers received training
- 4,570 students completed accredited training, 4,130 students received a scholarship and 5,292 students received formal mentoring
- 74% of the students were able to more than double their income after graduation, and the remaining 26% were able to increase their income by 50%
- 826 mentors actively mentored participants, 259 staff members received mentoring training and there were 1,159 volunteers
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- 357 family engagement events and activities
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## **WONDER Foundation**
## **Trustees' Report**
## **Strategic Objective: Empowering Women & Girls**
WONDER works to empower women and girls through quality education and personal support. Our objective is to facilitate their development into leaders within their own lives, families, and communities. This work is done through the provision of scholarships for vocational training, employability, life, and business skills training, and mentoring. Not only does this give women the opportunity to increase their income, but it also fosters and nurtures their self-esteem over time.
When a woman feels valued and valuable, she believes in her own ability to make a positive change by helping others. She gains a sense of dignity that comes from not only her own personal success but also in supporting others around her so that they may also succeed. Through a spirit of significance, we aim to provide women and girls not only with the means to earn an income but to find personal satisfaction and a sense of accomplishment in their lives.
## **Project Focus: A Second Chance for Women in El Salvador with Sirama**
In San Salvador, the capital city of El Salvador, many women are trapped in gang-controlled areas and, consequently, face significant challenges and dangers. They have limited education opportunities, which restrict job prospects, trapping them in poverty and pushing them towards dangerous and exploitative activities such as prostitution and involvement in human trafficking networks, where they can experience violence, sexual abuse and forced gang involvement.
Our partner in El Salvador, Fundación Sirama, runs one vocational training school in two locations which support vulnerable women and girls through training and personal support. Located in the centre of San Salvador, in the municipality of Soyapango - both of which are considered to be among the most dangerous areas of the country and where poverty is rife - they attract women in vulnerable situations and offer them an alternative training in which they can grow both humanly and professionally.
Our project, ALBA, aims to equip, accompany, and empower 50 marginalised women affected by gang violence, trafficking, and dangerous employment (including prostitution) in San Salvador. The project provides mentoring, counselling, and personal support, combined with quality vocational training in catering, dressmaking and beauty.
The holistic project aims to establish stronger networks to build collaboration. Many women are trapped in extreme situations in dangerous areas of the city; therefore, it is essential to build up local networks among faith institutions and NGOs to encourage women to participate in the project safely. Currently, Sirama is working with a congregation of nuns ‘Fraternidad del Camino,’ who are given safe passage by the gang members. The goal is to support the women to find dignified employment, be safe and free, and exit the cycle of abuse. As a result, the project will have a long-term impact for future graduates beyond the grant.
_“Before coming to Sirama I was depressed, I could not do anything and I was living with my parents, adding to their burden. For 20 years I had been taking care of my only son with special needs and a rare syndrome. My life had not been easy, I needed money, and I ended up shaming myself to support my son. My son died 2 years ago; I was 35. I felt lost and alone and hopeless. It is at this moment that my friend told me about Sirama. I started here last year. I feel so different now. I feel I have a new purpose. I have studied beauty and baking. I have already started working and earning, and thanks to my mentor started planning my own business. She has been very patient with me supporting me and helping me to be determined and achieve my monthly goals. Sirama also helped me access counselling. The counselling helped me deal with negative thoughts and anger. I still miss my son a lot. However, I have hope, I know I have a future I can look forward to and here I have also made new amazing friends.”_
Diana, El Salvador
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## **WONDER Foundation Trustees' Report**
_“For me it has been a great personal impact because it has made me discover that not all life is an obstacle, there is also a self-love and sometimes because of those obstacles we stop perceiving it. I want to have peace in my life, but I also want the people around me to have peace and have that sense of peace in everything around us. I am very attached to my son, and my son now asks me "mommy what do you put in the meat", now I'm being the teacher and he's the student, so it has strengthened my relationship with him much more. Siramá is a place where they teach us to recover the love that we sometimes lose in ourselves, and they give us back a lot of trust. From the morning, they open those doors for us it is like a second home where we feel much more valued than I think in our own home. When we have lost that hope of being able to achieve something, here we are taught to recover that faith. They make us believe in ourselves.”_
Jackeline, El Salvador
## **Project Focus: Supporting Midwifery Education in the DRC**
Empowering women leaders to become agents of change is one of the most powerful things that we can do.
That is why over the last two years, in partnership with the Institut Supérieur en Sciences Infirmières (ISSI) in Kinshasa, WONDER has supported the creation of the first accredited midwifery training course in the Democratic Republic of Congo (DRC) and trained the very first cohort of 13 officially qualified midwives in the country.
In DRC, maternal and neonatal health outcomes are among the worst in the world. Delivering quality healthcare services is a challenge as there are only 0.6 midwives, physicians, or nurses for every 1,000 inhabitants. In March 2022, when this project began, in the DRC there was no accredited midwifery training delivered to the international level that allows midwives to work independently and safely or to gain the skills to train and supervise others.
These midwives are now training other nurses in their healthcare setting to improve infant and maternal healthcare outcomes. One such story comes from Monkole Hospital where three of the graduates are working. In January 2024, a baby who was initially born weighing only 500 grams (just over one pound (lb)) left hospital, healthy and alive, for the first time in history in the DRC. The survival rate for babies weighing only 500 grams is extremely low anywhere in the world given that the average newborn weight is around 3,000 grams, so the fact that this child survived in Monkole in the DRC is a testament to the quality of care and competence.
One of the midwives in Obstetrics and Gynaecology at Monkole Hospital, Kinshasa, Marie Louise, recognised that the programme enhanced her skills, making her better able to meet her patients' needs. _“Since the beginning of the project, I have learnt to do my work better. A midwife who is trained in this way is able to reduce the maternal and neonatal mortality rate. It is very important to take care of pregnant women in our country to ensure that everything goes smoothly, and that no woman or child dies while giving birth.”_
Since completing the programme, Marie Louise has taken on more responsibility.
_“I’m increasingly taking on the full role of the midwife and not just a nurse midwife... I supervise up to 5 nurses every day, and even trainee doctors or specialised doctors, as they often rely on our significant experience as midwives. I can train at least 20-30 people a month, depending on their level of study.”_
We are now preparing to support the delivery of the next 2-year programme, also for qualified nurses, which will be entirely locally led. Teaching of this course will be led by graduates from the last course, who already have received training in effective teaching methods, having previously taught on ISSI’s established Bachelor and master's level courses.
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## **WONDER Foundation Trustees' Report**
## **Strategic Objective: Instigating Social Change**
WONDER empowers women involved in our local projects, alongside experts, policymakers, donors and contributors, to instigate social change. Decisions made by others significantly impact the lives of women and girls, especially those in vulnerable circumstances. Empowering them to advocate for issues affecting themselves and their communities is therefore crucial. Our work in this area aims to comprehend and tackle the broader context affecting women and girls, including participating in policy dialogues and engaging with influential stakeholders.
## **Capacity Building: Our Research into Migrant Girls’ Access to Education in the UK**
In 2022, WONDER received a research grant from the Blagrave Trust to investigate the national barriers faced by young migrant girls arriving in the UK.
On the 18th of July 2023, WONDER launched our report, “Invisible or Ignored: The Long Road to Education for Migrant Girls in England”, in the UK House of Commons, hosted by Sarah Champion MP, which examined the obstacles migrants girls face to accessing education when they arrive in England, and made recommendations on how we can change the system so that they can access the education they need and have a legal right to access to education, which is a fundamental entitlement for all children. Through our partnership with the Baytree Centre, we know that for many vulnerable migrant children, initial access to education is delayed because of complex school application processes. Navigating these procedures demands proficient English, digital literacy, and the ability to navigate the complex UK education system. Unfortunately, migrant children and their families often lack the necessary capacity and support to overcome these hurdles.
Even after securing a school placement, young migrants frequently encounter inadequate educational support. Schools struggle to provide tailored assistance such as one-on-one guidance, trauma-informed teaching methods, and induction programmes, particularly for girls. Consequently, numerous migrant girls in England are enduring prolonged periods without access to the education they rightfully deserve.
The case of Mariam who was welcomed by the Baytree Centre with her three daughters in January 2023 exemplifies this perfectly. The family was fleeing intense persecution in their home country where they were an ethnic minority with no rights. Arriving in the UK, they were referred to Baytree by a refugee hostel, seeking assistance to navigate their new environment and overcome substantial barriers to integration, including language and education.
Upon their arrival, Mariam, who had never been allowed an education due to her ethnic background, and her daughters faced immediate challenges. Their level of English was non-existent, and the children found it impossible to enrol in any school, due to the complexity of the education system. The Baytree Centre – which has provided support to teenage migrant girls living in South London since 2008 – engaged with the family, starting with Mariam who began attending English classes and receiving coaching and IAG (information, advice and guidance) to help navigate their new life.
Her three daughters were enrolled in Baytree's Into School Programme, learning English, Maths, and acquiring basic skills through various integration sessions. Both mother and daughters spent at least 4 days at Baytree per week attending classes and receiving 1-2-1 attention. Despite their lack of English and previous education, the daughters became close friends with other girls in their program.
The family's hard work and Baytree's support led to significant improvements in their confidence and language skills. In January 2024, the family was relocated outside London. Although leaving Lambeth and the supportive community they had found there was difficult, they welcomed the opportunity. They moved into a decent house, and importantly, all the children are now attending school in their new city.
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## **WONDER Foundation Trustees' Report**
_“Thanks to Baytree I was able to learn English, to present my case and that of my sisters in Parliament in front of 4 MPs and other notable people! Most importantly I was able to be accepted into a school and settle in my new country. Despite having received so many rejections trying to get into school, I felt we had done the right thing by moving to the UK because Baytree made us feel visible and that we mattered. Even though the schools were not taking me or my sisters, I was able to speak in Parliament in front of all these powerful people. It was an amazing moment in my life!”_
Fatima, Mariam’s daughter
## **Strategic Objective: Sharing Best Practice**
We have confidence that our partners are experts in the work they do, and have knowledge that is valuable to others, including their local stakeholders, academics, and policymakers. We work to share their knowledge and amplify the voices of both the women leading our projects, and the women and girls that they serve. Additionally, we provide training to our partners so they can increase their impact and become even more sustainable. Women at the front line often have less time or opportunity to access training and/or learn how similar organizations are adapting to emerging challenges. Our work aims to address this.
## **Capacity Building: South to North Collaboration**
We are proud to be facilitating the transfer of best practice between our partners and particularly experts from the Global South sharing their expertise with the North.
The Mwangaza project has made remarkable strides in supporting village businesswomen through business skills, counselling, and mentorship. At the heart of this initiative, a select group of mentors underwent specialized training. This equipped them to guide small business owners, enabling these women to enhance their business acumen and navigate life's challenges with increased confidence.
Grace is a graduate of Kimlea Girls Technical Training Centre in Kenya. She faced difficult challenges before receiving a scholarship. Prior to this support, her parents struggled to meet the financial demands of educating Grace and her younger siblings. The burden of multiple school fees weighed heavily on them. However, the scholarship not only alleviated this financial strain but also provided Grace with a valuable opportunity to pursue education without causing additional stress for her parents.
Beyond the acquisition of practical skills, the mentorship component of Grace’s training played a pivotal role. The guidance she received was not confined to career development; her principal, Miss Gikandi, served as a supportive force in addressing Grace’s personal challenges. In conversation with her, she reflected, “I’d like to thank her because of how she was to me and to the others.”
A testament to the programme's success is the formation of peer support groups by the participants, which persist even after completing the programme, highlighting the lasting impact of this community-driven approach.
However, replicating the Mobility Mentoring model in northern Europe has presented challenges for some of our partners, including a scarcity of mentors, language barriers, and significant cultural differences. Comparatively, the Kenyan model, underway in the Mwangaza project, is predicated on mutual mentorship among the women themselves, is adaptable and effective.
Evelyn Tiren, our projects and social impact manager in Kenya, facilitated a workshop for our partners in Poland, Spain, Slovenia, and Sweden. Her insights and experiences are paving the way for these countries to embrace and tailor the mentoring approach, demonstrating the programme's versatility and potential for broader application.
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## **WONDER Foundation**
## **Trustees' Report**
## **WONDER Learnings**
WONDER is proud to have engaged in collaborative initiatives with global practitioners and experts. These partnerships provide invaluable opportunities for us and our partners to leverage diverse experiences and insights for mutual benefit.
## **Collaborating with the Greenlight Movement**
This year, we began our collaboration with the Greenlight Movement, which has developed the “Greenlight” social methodology and metric to measure, understand, and evidence projects’ social impact. This approach helps people progress out of poverty by empowering them to understand and map their own choices – which is complimentary to the EMPath mentoring methodology WONDER uses.
We will be piloting their impact measurement tool as part of the Kumulisa project, a project we started in 2022 in partnership with Kyoga Foundation, in Uganda. The Greenlight team will train Kyoga Foundation to use the tool, and WONDER will use the metric to measure, understand, and evidence the Kumulisa project’s impact.
Kumulisa is empowering 300 women in Entebbe, Kampala, and its surrounding rural areas, by providing them with business and vocational skills training, as well as mentoring to help them find good work opportunities in the hospitality sector. With this, the women will increase their confidence, sense of agency, and overall health and wellbeing.
## **Demonstrating Our Work in Mobility Mentoring at the EMPath Conference**
Mentoring provides a tailored approach to education and empowerment for the women and girls who participate in our programs. WONDER is deliberate in ensuring our mentoring programs are adapted to suit the local environment and adopted in a professional way by local partners.
In 2020, we initiated a partnership with EMPath to formalise our mentoring efforts. Globally recognized for its coaching methodology, EMPath operates on the principle that everyone's journey out of poverty is unique – a vision that we closely align with. We aim to shift thinking from merely providing human services to fostering human development, aiming to establish sustainable paths to economic and social advancement for all.
Through this collaboration, we gained access to EMPath's training and resources, which we subsequently tailored and shared with our partners. Consequently, our partners have had the opportunity to evaluate and enhance our mentoring practices.
_“My mentor has helped me face and resolve my worries. She has helped me to come up with incomegenerating ideas so as to raise money for my upkeep. She made me see that I could make good use of any skills I have.”_ - Achen, Uganda
_“Mobility Mentoring has been such a powerful tool for WONDER and our partners. What is amazing is that Mobility Mentoring doesn't look at women as people with deficits, but as women who already have strengths and achievements and capacities that they can build upon once they recognize them. It builds women's capacities by always recognizing their existing capacities.”_ - Olivia Darby
In March 2024, WONDER attended the EMPath conference, a two-day public conference in Boston where policymakers, academics, practitioners, and philanthropists from all over the world came together to discuss topics relating to economic mobility.
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## **WONDER Foundation**
## **Trustees' Report**
Olivia Darby, WONDER’s Chief Programmes Officer, reflected on the model’s application through the Fanikisha program in the Mwangaza project in Kenya - a livelihood project with the goal of empowering 800 marginalized Kenyan women and girls by improving their income-generating capacity and confidence.
_“It was great to be at the conference to learn from practitioners and experts about their experience of what makes mentoring impactful and essential to the success of the typically very vulnerable women that they are also working with. Learning from experts on how to use the Mobility Mentoring tools more impactfully and strategically was inspiring. It's humbling to show our application of the tools and methodology that has been thought through so carefully by the EMPath team back to them, and to gain their perspectives and insights into our work. I cannot wait for more opportunities to learn from and collaborate with them, and to enable other organizations, as well as more WONDER partners, to benefit from the Mobility Mentoring model.” -_ Olivia Darby
Through the Fanikisha program - an outreach program supporting rural women with business, financial management, and culinary skills training - we incorporated mentoring as a tool for reinforcing the training content to ensure:
- Mastery.
- An avenue for creating support groups for the women.
- The sustainability of the program outcomes post-Fanikisha.
To date, we’ve empowered 600 women living in poverty from Kiambu and Nairobi Counties. After 6 months of training:
- 84% of the women either secured employment, started, or expanded their existing incomegenerating activities.
- 81% of the women experienced an increase in their income ranging from 25% to over 100%.
- 66% of vocational training graduates obtained jobs, resulting in improvements in their levels of self-esteem and self-confidence.
## **Financial Review**
We are happy to report that our total revenue in the year ending March 2024 was £1,409,564, resulting in a net income of £1,557 at year-end.
## **Funding Sources**
2023-24 was an effective fundraising year for WONDER. This was primarily due to generous direct donations from Corporates and Individuals, Trusts & Foundations. We have minimised the number of events we have run, as they demand a lot of work from a very small team and distract us from our work. We have improved our fundraising tools on the website, made our user journey simple and thus successfully increased the number of Individual donors supporting us.
We continue to be supported by several corporates. Collaborations like this enable us to both raise vital funds for our cause and raise awareness of our work.
## **Policy on Reserves**
The trustees would like to ensure the reserves remain between 8 and 12 months of average operating costs, including financial commitments such as salaries and rent, and disbursements from unrestricted funds to beneficiaries and projects. A typical funding cycle is 8-12 months so maintaining reserves in line with this permits WONDER to ensure continuation of operations if there is an external funding delay or shortfall. The reserves are fully expendable and used for the benefit of our beneficiaries. Our reserves policy and the approach to reserves management are regularly reviewed and monitored. The trustees will keep the Financial
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## **WONDER Foundation**
## **Trustees' Report**
Reserves Policy under review as part of the Business Plan process. As of 31 March 2024, our reserves were £487,088 which represents 10 months of expenditure.
## **Principal Risks and Uncertainties**
The trustees are responsible for ensuring that WONDER Foundation has an appropriate system of financial and other controls designed to safeguard the assets of the charity and maintain the integrity of the accounting records. While internal controls provide reasonable, but not absolute, assurance against errors or fraud, dayto-day controls, including accounting procedures, are delegated by the trustees to the senior management team (SMT). The trustees are committed to maximizing the proportion of income used for charitable purposes while balancing the need to attract and retain high-caliber staff to maintain and grow income, ensuring all funds are safeguarded.
Processes to manage risk include:
- A risk register that captures all material risks identified, ranked by likelihood and impact.
- Risk appraisals for all events and overseas trips to identify, evaluate, and manage risks.
- Multi-year planning and budgeting.
- Regular reporting of performance to date and forecasts to the end of the year.
- Policies and guidance notes covering significant risk areas.
- Crisis management plans.
The Finance Committee monitors the steps taken by SMT to manage and mitigate risks and reports to the Board. Key risks managed by WONDER Foundation include:
- **Economic and Political Environments:** The global and UK economies have faced severe shocks, including the pandemic, the war in Ukraine, and Brexit. These events have impacted on our funding. We are focusing on diversifying our income sources to support and scale our work with a particular focus next year on broadening individual donor base. Our agile fundraising team have strong relationships with donors, including large foundations and corporates, and have been crucial in raising vital funds during these times.
- **Safeguarding:** Protecting individuals who come into contact with our organization, including staff, programme participants, volunteers, and supporters, is paramount. We meet the expectations of the Charity Commission and key donors and are mindful of the significant risk of reputational damage. Compliance with safeguarding standards is a top priority. We have spent 200 hours working with specific partners to ensure they are well resourced in this area and we are looking to expand our focus on this next year.
- **Management & Leadership Diversity:** A lack of diversity can result in poor decision-making and lower staff engagement. We have restructured our SMT and Board to include diverse perspectives which reflect the needs of the local communities that we serve.
- **Staff Capacity, Turnover, and Well-being:** As a values-driven organization, we prioritize our staff's well-being. We offer flexible working arrangements and have implemented a comprehensive benefits programme focusing on development and well-being. Our hybrid working model supports a healthy work-life balance.
- **Operating in High-Risk Areas:** Our mission involves supporting marginalized women in conflictaffected countries. Local partners with extensive experience manage safety and security, and staff travel only when deemed reasonably safe. Detailed risk assessments and crisis management plans are in place.
The trustees are satisfied with the measures taken to mitigate these risks.
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## **WONDER Foundation**
## **Trustees' Report**
## **Plans for Future Periods**
## **Aims and Key Objectives for the Future Period**
During the 2023-24 year, WONDER has experienced significant growth in operations, projects, and team capacity. We remain dedicated to empowering more women and girls by scaling our projects sustainably and strengthening support for our local partners. To achieve this, we are focusing on the following initiatives:
## **Strengthening Financial and Capacity Building Support**
We plan to appoint an Individual Giving Fundraiser to deepen relationships with existing donors and attract new ones. Additionally, we have strengthened our programmes team by hiring an International Programmes Manager and a plan to hire a Latin America Mentor Manager. Expanding our base of individual supporters and enhancing our team capacity is essential for sustainable growth. Through clear communication and showcasing real results, we aim to support more women and girls in accessing quality education and opportunities to exit poverty.
## **Pioneering Research and Advocacy**
We are committed to addressing the challenges faced by our project participants. Following our successful research on out-of-school migrants in 2023, we received a grant from the Sir Halley Stewart Trust to study how UK youth work programmes can effectively engage migrant parents and their children. Additionally, a grant from Rosa will further our campaign on education access for migrant girls in the UK. We aim to influence youth work practices and improve outcomes for young people by sharing our research with stakeholders.
## **Excellence in Mentoring**
Mentoring is crucial for effective education. We have introduced EMPath evidence-based mentoring in 11 partner organisations and plan to expand to two more in 2024-25. We are committed to ongoing training and support, and we aim to appoint a mentoring lead for Latin America to join our specialist staff (as mentioned above).
## **Championing Safety and Wellbeing**
WONDER has enhanced and implemented safeguarding policies across our projects internationally. Our focus for next year includes:
1. Developing systems to improve workplace safety for young women in vocational programmes.
2. Strengthening partners’ safeguarding policies, particularly in Ivory Coast, Uganda, and Poland.
3. Providing mental health training for mentors and programme leaders to ensure the wellbeing of staff and students.
## **Leading Digital Innovation**
Digital tools enable us to maximise efficiency and impact. This year, we launched our Salesforce CRM, streamlining operations and improving donor communication. We are also building the digital capacity of our partners, ensuring they have the skills and infrastructure to leverage technology effectively. Additionally, we are developing digital literacy programmes for our students, preparing them for the workplace and self-learning.
These initiatives reflect our ongoing commitment to empowering women and girls and creating sustainable change. Thank you for your continued support as we strive to make a meaningful impact.
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## **WONDER Foundation**
## **Trustees' Report**
## **Disclosure of Information to Auditor**
Each trustee has taken steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity’s auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
## **Statement of Responsibilities**
The trustees (who are also the directors of WONDER Foundation 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its 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 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, comprising FRS 102 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 can 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
31/07/2024
The annual report was approved by the trustees of the charity on .................................... and signed on its behalf by:
......................................... Raphaella Gabrasadig (Chair)
Page 15
## **WONDER Foundation**
## **Independent Auditor's Report to the Members of WONDER Foundation**
## **Opinion**
We have audited the financial statements of Wonder Foundation (the ‘Charity’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **Opinion on financial statements**
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of
- its income and expenditure for the year then ended:
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
- Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditorʼs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Page 16
## **WONDER Foundation**
## **Independent Auditor's Report to the Members of WONDER Foundation**
We have nothing to report in this regard.
## **Opinion on other matter prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the trustees’ report (incorporating the directors’ report) has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of the trustees**
As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
Page 17
## **WONDER Foundation**
## **Independent Auditor's Report to the Members of WONDER Foundation**
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
• We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to:
- Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
- The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
• We inspected the minutes of meetings of those charged with governance.
• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.
1/08/2024
………………………………. Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG
Page 18
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in notes to the financial statements.
Page 19
31/07/2024
Page 20
II'ONI)F.R Founilation
SialL'nii'iit uf cash flu.5
Noie
2024
?0?3
Cash flows from operating aetii ities
17
(172,071)
39.918
Nct c#sh proi illed b!. l {used in) operuting thclii'itics
C'.aqh noTh_4 from ini'e8tin% acli%'ilies:
Dividends, inieresi iiid renig trnin invesiineiii
lJ,994
3.046
Ncl cash proi'ided bi. I luse(l inl invesling aclii'ilie$
13.994
Chthnge in Lush and Lush equiTr#lents in the Treur
(1.58,077)
4?.964
C asli ¢itid cash equivalenis it the begiiniiinLI ()f Ihe vear
1,055,122
l.Ql? li8
Cush and Lash equii"#lents #t the enij of the Tre#r
18
Page21
WOTril)r.R Fvun(lulioii
Notc% to Ihc fin#iiiial %tatcmcnl$
Fnr the l'ear en(le(131 March 2n24
Aceountillg policies
a) Ilasi% of preparJtinn
RLcoiiiiiiLiidid PrdLliCL appliidblL' 10 LlidriiiLs prLparin¥ Ihlir dLLCIUIIIS 111 dLLt)rdaiiLL I1117 ihL F-inaiiiidl R¥ponin
Siandard applicable in Il)L UK aiid Repiiblic ol. Ireland IFRS I O? cffcciive l JaiiuaTh, ?01 f1- Ichariiies snRP FRS 1021
ai)d Ihe Coii)pai)ie% Aci ?006.
recoL)iiised ai Iiisiorical cosi or iransaciion value ui)le%s oilieni ise siaied iii ilie relei'aiii accouiiiiii& polic) or Iioie.
b) Ipoirig c(Incern
I'he IinaiiLldl %taien)enis hc1Ie been prepared on a f)oinii concem basis.
The Iriisiccs considcr Ih1c ( Iherc arc no iiiaierial unceriainiies boiil Il)e charitable coinpaiiK s abiliij io coniiniie as a ooin?
Iru8tee8 do lio( can%ider ihai Iliere are an) %niirce% nf e8tiJiiaiioii uncertaiiill ai Ilie rept>riinLi dale ihal liave a 8igTiiifi¢anl ri%k.
of caU$tng ¢7 iiiaieri411 adjii%iiiieni 10 Ilie carrkiiig> aiiiounis of as%eLfi ai)d liabiliiies iviil)in (lie Iiext reponing period.
e) Income and endoii ments
Voliiiitarn ii)coiiic ii)clLidii)ii donaiions. ftifts. le£iacies and £Franis Ihai pro ide core fui)din(T or are of a iweneral naiiire is
recogyiiised 1}ell tlie cliariii has eniiileiiieiil 10 Ihe incoiiie. 11 IS Probable Iliai Ilie incoiiie M'ill be received aiid ihe amouiii
l)iiiiuli(iiii iiiidlcAJ¢{c'ie.%
peri(x4.
6'ruiil% r¢p('L'jiyuhle
(iranis re recoL7iiised wl)en ihc charili has an eniitlemeni 10 Ihe funds and ani eondilions linked 10 ihe (Franis havc beei)
nict. Il'hcrc i)¢rforiiiaiic¢ coiidiiioiis arc aiiaclicd lo Ili¢ nraiii aiid arc )'¢1 10 bc Inci. Ilic incotiic is rcconiiiscd as a liabilit>.
aiid iiicluded Llll Ilie balance slieei as dcfcrrcd iiicoiiie to be relcased.
t)elerrLd incoiiic represenis aiiioiinis receii.ed for fiiliire periods ai)d is rele1c sed io incon)inft resources in ihe period for
i¥hich. li lia% l)eei) receil'ed. %iich ii)conie 1% 01)l)' deferred i4hen'.
'I'lie donar specifies ihal tlie cjraiii nr donaiinii Iiiust nnlN' he used iii fuiure accoiiiiiiiii perind%: or
d) DOnltin (jf gift%. Sl'ri'ices facilities
rLCLIVLd ihL %Lfi.iLL. L()iidili()n% d54iLidlLd li iih IliL cl()iiati(?ii hdi.L bLLI) Inci. IliL fLLLipI (It-LL()noniiL hL'nLlit Iri)m IIiL
Cliarilics SORP {fRS I O?). I'vliinlLLr liinL IS 11()I rLL()i)IiiSLd %{) r¢f¢r to IhL Irusl¢LS dnnual rcp()n lor ni()rL inf()rnl&iliun
()n receipi. doiiaied ftifts. professioi)al ser% ices and donc1(ed faciliiies are recoTrnised on (lie basis of Ilie *alue of Ihe ilifi io
lo pa) io obtain services or facilitie.% of equii'aleiil
econoinic benefii oil ihe Dpei) iiiark'ei: a correspoiidiiil) c11110uni is ilieii reco¢Fnised ii) eypendiiure iii tl)e period of receipi.
e) Interest receiiuble
Iiiteresi on liii)ds Iield on deposil is iiicliided Iihen receiiable and the aiiiouni can be nieic siired reliabli b! ihe chic rii¥: Ihis
Fund accountin
Ke%ifiLied tundN tre to be LlSed f()r speLific purp()se ds laid d()wi) Ilie don()r. Expei)diture whieh n)eets ihe%e criteria is
cliarlied 10 rlie fuiid.
Unrestricied fuiids are donations and oil)er incoiiiinTr resources receiied or oeneraied for Ihe chariiable purpLises.
l)esjLinilied fuiids are unresiricied fui)ds eariiiark'ed by Ilie (rusiees for particular purposes.
Page 22
WOTril)r.R Fvun(lulioii
Notc% to Ihc fin#iiiial %tatcmcnl$
Fnr the l'ear en(le(131 March 2n24
Aceounting policies Icontivued)
g} Expendilure irr¢i(ii'¢rahli. VAT
Cosi8 ()f rai8ii)g> tunds relate ro ilie cn8t% incurred hi. the cliaritable cniiipaii!. iii induciiig> rliird partie8 10 iiiaK'e
F..xpendiiiire on chariiable aciil'iiies includes the cosis of deliverino services. undertakeii io funher the purpLises ofihe
chArit) tl)eiT a£%ociaied £uppnn co%is.
Other expeiidiiiire represeiiis ihose iieiiis not fallinLF inio aiix Liilier l)eadino.
IrreL()verable V A-I. Is LharL7ed ds d L()%[ d!iajii%l (l)e dLllI'iI! l(Jr iihiLh the e.xpendiiiire inLurred.
h} Allocation of supp(irt costs
Ke%oiirce8 expeiided Éire allacll ted tn the particular actiN iiy -here tlie reli tes directl!. tn Ilial aciivir!.. Hoi¥ever. Ilie
i) Opcrating Icases
Kei)tal Cli1[e i re char(Jed on a strni
j) l-ankpihle filed £1$4els
IrLlll% Ilt. L'qIIIPIIILIII dfL' LAPItAli%ed where th¢ purelia%e i?rice ¢XCLLd% £ l.l)Qn. DeprL'Lldll()i) are alloLaiL.d i() dciiviiie.
()ii tlIL. basi% ()I'iliL Ii%L' ()l-Ihi' rLldtLxl in ihE)NL JCllVlllLS. As*15 arL' re¥ iewed lor inipairiiieiii il-cirLUlll%ldnLes indicaie
thLif L£lrrJini> VdluL nid! LXLLLd IhLir IILI rLalisdblL %dluL dn(l *dliiL in LISL.
l)epreciaiion is proi'ided at raies ¢alculaied In li rite dowii ilie cost of eacli as5ei to its es¢iinaied re%idiial value over lis
expecied useful life.
kl Debtors
Trade <1nd oil)er debtors cire rccognised ai ihe sciilcincni aimouiii due after any Iradc discoiini 0cred. Prcpa)"iiicnis are
aluL'd at ihL iti)iuuni prepdid i)Lt ul'- arise.
n} Creditor5 prOlSin5
prubdbl!, TL%uli iii IhL Iranstir ()l- liinds i() d Ihird pani. aii(I th¢ ainL)uiii duc io s¢iilL ih¢ ubliiJd[ji)n ¢an k. iii¢asur¢d ur
o) Tr-indncial in51rumenls
Tlie cliclfiiN onli lia% f1nancial asseis and financial liabiliiies of a kind Iliai qualif! as basic financial insiruinenis. Flasic
rlie excepiinii ol-baiik Itbans wliicli are suhsequeiiili. iii¢asiired at aiiionised cost 11sinL ihe effeciiv¢ iiiieresl iiieiliod.
l) Peiision$
Thc charii). operates a dclined coniribLiiion pension scheii)c thhicli is a pciision plan undcr which fixcd coniribulioiis arc
paid inio a pcnsioii lui)d and Ihc Lhariik l)as n() Icgal or consiriiciiic obli?aii()n io pa!. lurthcr coniribulii)ns cvci) if Ilie fiiiid
perii)d4.
Page 23
WOTril)r.R Fvun(lulioii
Notc% to Ihc fin#iiiial %tatcmcnl$
Fnr the l'ear en(le(131 March 2n24
2 1)etuile(I comparatii'es for the statenieiit of financial actii'itte.s (prior ie#r- 20231
Unrestriit¥d
Re5tricle
2023 TutAI
Noic
Iiicoinc froni:
730.140
315.668
780.170
1.045 808
-1.046
Total incoi)Ic
7.3.1.186
1.09.5.8.38
1.8?9.0?4
Lxpenditure on:
149.i581
(999.7791 (1.-)4?.9461
149.J581
11.64? 7?$1
QharildblL aLlivilies
T()lal cxpL'iidiliirL'
Nei incoine,. leNpei)diiiirel for ihe i.ecir
Transfcrs bcim'ccn lunds
li41).1.771 ( l. j47.9461
11.6g? 08.))
384.049
li97.5_fj1 I
{1.3.50?1
?47.108)
-197.5.$1
1.36.941
Nei incDiiie . leNpeTidiiiirel bel()re oiher reeoTrnised in%
thcr r¢cogniscd gains and losses
150.443
1.36.941
821?
821?
Nci i)ioi.cnicni in fui)ds
Rei'uiiciliution of fuiids:
Toial fuiids hroii&Jlii foryvard
Toial lui)ds ¢arri¢d forHard
{% ?901
liO.441
145.15.3
i60.072
ii4.78.",
?07 8i.S
?98
76).9?8
908.081
I Income froni donations and legacies
2024
Total
Unresiricicd
Resiricied
r)01)ations fn)m compai)ies. trusis and siiiiilar proeeeds
75.375
150.0?4
719
?U,140
104.73?
180.1117
202.6J4
719
2U.IJU
?25.1)6
?05.13?
-38U.918
23.138
4.j6.6?0
Granis Iroin oiliLr chariiies
Total in¢oiiie from doi)alioi)s ?0?4
471,323
7.10.140
157J4?
317.068
628,66.
1.04i.808
1.047.808
Toial ii)coiiie fro171 doiiaiions ?O?.I
4 Incvme from ch#rilable #clivities
2024
Total
Unresiricicd
Restricied
Toial
(Jrants & doiiaiions
766.90)
766.905
780.170
780.170
Total incoi)ie from chariiable aciivilies ?014
766,905
766,905
Total inconic froni ¢l)dritablc actll'lTlCS ?O?'
7Rn.170
7Rn.170
S Income from inieslmenls
2024
Tolal
Unr¢siri¢i¢d
Restricied
Tolal
Iiiierest receivable 011 bai)k dep(>%il%
Total incoiiie from investiMei)Is ?0?4
13,994
.3.1]46
13.994
13,994
-3.046
Total incoiiie froim invesiinei)1s 2023
-3.046
Page 24
W()Nl)Tr-R b-oundation
Notes tu the fiiiaiii'ial statemellls
For the )'¢ar vnded 31 March 2024
Anall'sis of expendilure
Charitable aclii'ities
Cos¢ of InstlgTap liiig
r.llipoiver
ruising
social
oiiieii and
funds
Lhdngl
PTaLIiLe
2024 Total ?0?"
TDtdl
Staff costs (Notc 8)
99.444
100.700
372,152
-)46.512
DirL'Ct c¢)%t
l'h1 riiable eipeiises
riiiidraising) l-.xpeiises
ppnrt LO%t
Reni
()f'tiLL L()%ts
6.18.$
947.006
994.494
7,0.)9
4.?00
4.800
12.7.50
4..5?4
1197
507
9.0.5£
j.114?
6.389
4.410
20
490
yui
Elaiik cliaru7es
l.Lg>al & pri)IL%%i()nal
DULS & subsLripii()i)s
66
.$4
2,791
5,Itii
191
187
600
1.174
9.186
1.09?
4.708
Audii &. aLLITrLiiiiaiiLI' fil%
6.000
Total eipenditure 2024
67.048
1?7.618
141.5.)0
,402,328
1.69?.08 J
T()tul LXPLn(lilurL ?(}?"
138.874
148.15$
-).5S.696
i)rthi t(iial LXPLndilurL. £)67.801 unrL'NtriLILd l?11? j £)49. li71 and £ l.Ili4.5?7 rLslriLtLd l?0?"
£l.j47 9461.
b. Anall'siq ijf eii)en(lilure fr(Im prei'iijus rep()riing perio(1
ChdritdhlL' #Ltii'ilics
C'osi of InstiuFaliiig
Eniwiver
rdi%ing
social
good Moiiien aiid
praclice
?Oji T()tal
Staff costs (Note 8)
40.149
11.).724
76,5?0
-)46.512
DirL'Ct ci)st
C'h1 ritablL expcnsLS
Fuiidrdl%lllL I.IPL'nse
ui)i)orl cost
?.000
7.0.5()
18.8?8
7,702
1 ?06.408
1 ?94.9.78
7.0.ig
OIIILL Ll)%IS
417
?7?
1.$06
48(
717
7.549
?.6?
897
507
l.e¥Fal & priJfes%ional
)IiL% & siihsLripiii)ns
lio
5.04?
6..i89
4.410
Aiidit lees
Total eipenditure 2023
14a.874
146.145
-j.5S.696
.69?.118",
Page 25
'oNI)r.R Foundation
Notes to the finlincial statements
For the I'car ended .11 MArch 2024
r41.t incomcl Icipt'n(lituri'l Ivr thi. vi'ar
This is slalcd aficr charIn / crcditiii(p:
2V24
?0?3
Aiidilars, rciiiiincraiion (cxcliidiiig V A Tl:
Aiidit
l.)Il)er services
4,0
4.000
An#1Tr5i5 of staff costs, trustLe remuiieratioTh cxpi'n5¢5. and thi. Cost vf kL'i' maiiagLllIL'JIt pL'r¥vniiLI
Stciff costs i¥ere &2S tolloivs=
2024
0).3
332,130
2%,72.5
11297
-114.841
?().¥85
F.iiiployLr s Loi)tribiilioi) io dcfii)cd coi)tribulioii pcnsioii scl)ciiics
372,152
14().512
Nlo ¢ii)ployec ¢ani¢d Iiiorc Il)aii £60.000 during Ilic ¥"car l?0?3'. iiil).
Tlie totcll ciiiplo)'ee bei)elils includin(y nc11ioiicil insiir
?56.? 10
137.117
Bc2lc21)cc at thc ciid ofthc i'car
137.117
Tlic charili. opcraics OrKpI[CC pcI)sion schcmc. AS &?1 ihc )'car cnd. it lias a pcnsion liability £1.784 11 hich is paid
in Mai. ?0?4.
IS All#li'si5 vf ni.t a55l.ts behvceTh fund¥
Gci)cral
unrcsli'icled
Dcsi(yn¢?l¢d
Reslricled Total funds
C'LirrL'nt Sscts
504.495
(17.4071
4?9.551)
927,04.5
{17,4117)
Net assets at the of thL Trear
487.088
422.550
909.638
Allalvsis of net #sset5 bittvecn funds {priur vear)
Gciieral
unrcslriclcd
Dcsinnalcd
Reslriclcd Tutal fund
C'LirrLnt ii%set5
701.8*4
(147.041)
351.?98
,055,122
(147,041)
Net assets at thL' of thL Trear
3.53,298
9n8,n81
Page 27
**WONDER Foundation Notes to the financial statements For the year ended 31 March 2024**
## **16 Movements in funds**
|**NDER Foundation**
**theyear ended 31 March 2024**
**s to the financial statements**
**Movements in funds**||||||
|---|---|---|---|---|---|
|**Total restricted funds**
General funds
Fluerir Yarani Cayat
National Lottery- UK
Rosa - UK Fund for Women and Girls
Sir Helley Stewart
Nawa- Nigeria
Fundacion Sirama - El Salvador
Prodes-Lebanon
Mwangaza II - Kenya
Mwangaza- Kenya
Pirineos - Venezuela
Pontes- Poland
KFCSED - Kazakistan
Kianda - Kenya
Kumulisa - Uganda
Baytree - UK
Care - Sweden
Condoray - Peru
Etsosang - South Africa
Fatima IV- Slovenia
FPTI - Philippines
CECFOR
Lantana- Nigeria
Mairin - Honduras
**Unrestricted funds:**
Sendas-Bolivia
Yarani - Ivory Coast
Sorawell - Cameroun
Senara - Spain
**Total funds**
Turing - Congo
Junkabal - Guatemala
**Restricted funds:**
ISSI - DR Congo
Wavecrest - Nigeria
Other recognised gains/(losses)
**Total unrestricted funds**
Kamalini - India
ADEC - Brazil
Baytree Centre PIMCO -UK|At the start
of the year
£
1,454
-
-
-
-
5,000
16,000
-
-
1,939
-
-
6,000
9,000
-
14,968
200
3,000
742
46,624
10,000
227,576
4,995
-
-
-
-
-
-
5,800
-|Incoming
resources &
gains
£
-
98,500
22,161
11,615
-
-
-
-
76,325
45,611
100,471
7,924
37,240
8,600
-
-
105,005
4,814
36,067
137,192
10,000
-
-
18,753
-
7,000
17,887
-
27,775
14,674
6,726
69,048
60,859|Outgoing
resources &
losses
£
(1,454)
(98,500)
(22,161)
(11,615)
(6,914)
(5,000)
(10,000)
(11,373)
(20,475)
(49,764)
(100,471)
(15,000)
(36,506)
(13,631)
(57,409)
(4,791)
(93,578)
(5,000)
(7,000)
(16,575)
(151,228)
(10,000)
(10,020)
(10,000)
(113,822)
(4,995)
-
(17,887)
-
(2,589)
(14,577)
(52,051)
(60,141)|Transfers
£
-
-
-
-
6,914
-
-
11,373
-
2,354
-
37,171
-
7,000
65,909
4,791
-
-
9,000
-
-
-
10,020
15,000
-
-
-
-
10,000
-
-
-
-
-|**At the end**
**of the year**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**6,000**
**-**
**55,850**
**140**
**-**
**30,095**
**734**
**7,969**
**17,500**
**-**
**26,395**
**14**
**5,000**
**20,234**
**32,588**
**-**
**-**
**15,000**
**132,507**
**-**
**7,000**
**-**
**10,000**
**25,186**
**97**
**6,726**
**22,797**
**718**|
||**353,298**|**924,247**|**(1,034,527)**|**179,532**|**422,550**|
||554,783
-|485,317
-|(367,801)
(5,679)|(185,211)
5,679|**487,088**
**-**|
||**554,783**|**485,317**|**(373,480)**|**(179,532)**|**487,088**|
||**908,081**|**1,409,564**|**(1,408,007)**|**-**|**909,638**|
## **Purposes of restricted funds**
The specific purposes for which the funds are to be applied are as follows:
All the restricted funds are projects to support women and girls in the specific country or area as per the fund titles. The work in each area is as described in the trustees annual report.
The transfer from the General fund to the restricted funds is to support the ongoing project activities.
Page 28
**WONDER Foundation Notes to the financial statements For the year ended 31 March 2024**
Movements in funds (prior year- 2023)
|Movements in funds (prior year- 2023)||||||
|---|---|---|---|---|---|
|Total restricted funds
General funds
Total funds
Unrestricted funds:
Other recognised gains/(losses)
Total unrestricted funds
Sorawell - Cameroun
Tewa - Kenya
Turing - Congo
Wavecrest - Nigeria
Yarani - Ivory Coast
Mwangaza- Kenya
Pirineos - Venezuela
Pontes- Poland
Prodes-Lebanon
Project GROW - EU/Africa
Senara - Spain
Kianda - Kenya
Komati - South Africa
Kumulisa - Uganda
Lantana- Nigeria
Mairin - Honduras
Mwangaza II - Kenya
FPTI - Philippines
Fundacion Sirama - El Salvador
ISSI - DR Congo
Junkabal - Guatemala
Kamalini - India
KFCSED - Kazakistan
Baytree - UK
Beeing and belonging -EU
Care - Sweden
Condoray - Peru
Etsosang - South Africa
Fatima III - Slovenia
Restricted funds:
Chocolonely - Ivory Coast
An Nawras - Lebanon
Baytree Centre PIMCO -UK
ADEC - Brazil|At the start
of the year
£
-
1,454
1,030
-
342
4,532
-
-
-
-
6,296
-
53,634
1,890
3,357
2,997
-
-
-
3,640
-
-
5,232
-
103,637
-
6,399
-
-
-
-
1,744
6,671|Incoming
resources &
gains
£
22,226
-
-
90,000
23,124
-
12,119
-
-
-
39,212
-
10,618
70,445
2,100
20,439
3,795
3,693
125,013
1,800
-
56,673
256,169
6,238
279,332
-
15,302
18,726
18,596
-
8,499
10,240
1,479|Outgoing
resources &
losses
£
(22,226)
-
(1,035)
(90,000)
(23,466)
(14,152)
(12,119)
-
(5,000)
(14,637)
(55,033)
(26,000)
(122,864)
(98,313)
(8,000)
(38,285)
(3,795)
(3,693)
(175,005)
(15,240)
-
(55,931)
(214,777)
(8,718)
(155,393)
(10,009)
(21,701)
(18,726)
(32,609)
(30,000)
(17,551)
(26,182)
(22,486)|Transfers
£
-
-
5,000
-
-
9,620
-
5,000
21,000
14,637
11,464
26,000
58,612
25,978
8,543
23,849
-
-
64,960
10,000
3,000
-
-
12,480
-
10,009
-
-
14,013
30,000
9,052
19,998
14,336|At the end of
the year
£
-
1,454
4,995
-
-
-
-
5,000
16,000
-
1,939
-
-
-
6,000
9,000
-
-
14,968
200
3,000
742
46,624
10,000
227,576
-
-
-
-
-
-
5,800
-|
||202,855|1,095,838|(1,342,946)|397,551|353,298|
||560,073
-|733,186
8,212|(349,137)
-|(389,339)
(8,212)|554,783
-|
||560,073|741,398|(349,137)|(397,551)|554,783|
|||||||
||762,928|1,837,236|(1,692,083)|-|908,081|
Page 29
**WONDER Foundation Notes to the financial statements For the year ended 31 March 2024**
## **17 Reconciliation of net income / (expenditure) to net cash flow from operating activities**
|**Net income / (expenditure) for the reporting period**
**(as per the statement of financial activities)**
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by / (used in) operating activities**
**Analysis of cash and cash equivalents**
At 1 April
2023
£
Cash in hand
1,055,122
**Total cash and cash equivalents**
**1,055,122**
**Analysis of cash and cash equivalents (prior year)**
At 1 April
2022
£
Cash in hand
1,012,158
Total cash and cash equivalents
1,012,158|**Net income / (expenditure) for the reporting period**
**(as per the statement of financial activities)**
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by / (used in) operating activities**
**Analysis of cash and cash equivalents**
At 1 April
2023
£
Cash in hand
1,055,122
**Total cash and cash equivalents**
**1,055,122**
**Analysis of cash and cash equivalents (prior year)**
At 1 April
2022
£
Cash in hand
1,012,158
Total cash and cash equivalents
1,012,158|Cash flows
£
(158,077)|**2024**
**£**
**1,557**
**(13,994)**
**(30,000)**
**(129,634)**|2023
£
145,153
(3,046)
9,000
(111,189)|
|---|---|---|---|---|
||||**(172,071)**|39,918|
||||Other
changes
£
-|**£**
**897,045**
**At 31**
**March 2024**|
||**1,055,122**|**(158,077)**|**-**|**897,045**|
||At 1 April
2022
£
1,012,158|Cash flows
£
42,964|Other
changes
£
-|**£**
1,055,122
At 31 March
2023|
||1,012,158|42,964|-|1,055,122|
## **18 Analysis of cash and cash equivalents**
## **19 Operating lease commitments**
The charity has no future minimum lease payments under non-cancellable operating leases.
## **20 Legal status of the charity**
The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees
is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: C/O Baytree Centre 300 - 302 Brixton Road London SW9 6AE
Page 30