## **TEACH FOR ALL NETWORK** 

## **FINANCIAL STATEMENTS** 

**YEAR ENDED 30 SEPTEMBER 2020** 

**Company No. 07567032** 

**Charity Registration No. 1148763** 



## **TEACH FOR ALL NETWORK** 

I N D E X 

## **Year ended 30 September 2020** 

||**Page**|
|---|---|
|General information|2|
|Report of the Trustees|3|
|Independent Auditor’s report|6|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Statement of Cash Flows|11|
|Notes to the financial statements|12|



1 



## **TEACH FOR ALL NETWORK** 

## G E N E R A L I N F O R M A T I O N 

## **Year ended 30 September 2020** 

**Directors and Trustees** Dame Julia Cleverdon Edward Vainker Amanda Jenkins David Thomlinson Paul Fletcher James Westhead Ndidi Okezie (appointed 25 March 2020) Russell Hobby (appointed 25 March 2020) **Company Secretary** Julia Chi **Registered office** 22 Chancery Lane London WC2A 1LS **Charity number** 1148763 **Company registration number** 07567032 **Auditors** Dixon Wilson Audit Services LLP 22 Chancery Lane London WC2A 1LS **Solicitors** BDB Pitmans LLP One Bartholomew Close London EC1A 7BL 

2 



## **TEACH FOR ALL NETWORK** 

## R E P O R T O F T H E T R U S T E E S 

## **Year ended 30 September 2020** 

The Trustees present their report and financial statements for the year ended 30 September 2020, which includes the directors’ report as required by company law.  The financial statements have been prepared in accordance with the accounting policies set out on page 12 and with the Companies Act 2006 and the Accounting and Reporting by Charities: 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 (FRS102). 

Teach For All Network is a company limited by guarantee and became a registered charity on 30 August 2012. 

## **Structure, governance and management** 

The names of the directors who served throughout the year are stated on page 2.  The directors of the company are also charity Trustees for the purposes of Charity law. 

Teach for All Network is governed by a board of Trustees who meet annually to discuss the charity’s strategy, including grant making, risk management, policies and performance.  However, if it is determined that an annual meeting is insufficient additional meetings will be scheduled.  The board currently consists of the Trustees listed on page 2.  New members of this board will be selected and appointed by existing Trustees.  New Trustees are provided with guidance as to their responsibilities from existing Trustees and management. 

Teach for All Network is governed by Memorandum and Articles of Association dated 16 March 2011.  Application of income of the charity is limited to the promotion of its objects.  Decisions are made by simple majority of votes cast at a meeting of the Trustees. 

## **Objectives and activities for the public benefit** 

The charity’s main object is the advancement of education for the public benefit, and such other charitable, philanthropic and benevolent purposes in the field of education as the directors shall decide. 

Teach For All Network works to accelerate the progress of independent locally led and governed partner organisations within the overall Teach For All global network, and particularly in Europe. Each network partner recruits and develops promising future leaders to teach in their nations’ high-need schools and communities and, with this foundation, to work with others, inside and outside of education, to ensure all children are able to fulfill their potential. Teach For All Network works to accelerate the network’s progress and increase its impact by providing partners with direct support, facilitating connections among them, accessing global resources for the benefit of the network, and fostering the leadership development of partner staff, teachers, and alumni. 

## **Strategic Report** 

## **Achievements and performance** 

During the period, the Teach For All global network grew to include more than 55 partners. Teach For All Network helped these partners achieve a measurable increase in average scale of their programs, as well as an increase in the effectiveness of their teachers and program alumni as measured by survey data. During this time, network partners also provided high ratings regarding their assessment of the quality of support from Teach For All Network. 

The focus in the period had been on providing enough support to those in need during the Covid-19 pandemic.  It was estimated that 80% of the world’s children were out of school and the Network had seen that the shift to virtual learning was not only about generating digital content but also about the mechanisms used to deliver this content.  The Teach For All global network has considered these issues and has been able to hold virtual events successfully and has seen continued growth in the year. 

## **Public benefit** 

The Trustees, having regard to the Public Benefit Guidance published by the Charity Commission in accordance with section 17 of The Charities Act 2011, consider that the purpose and activities of Teach for All Network satisfy the requirements of the public benefit test set out in section 4 of the same Act. 

## **Financial review and reserves policy** 

The accounts are set out on pages 9 to 17.  The charity’s costs are recharged to its parent entity and therefore has no need to maintain reserves at a particular level in order to ensure its continued operation.  Unrestricted reserves at 30 September 2020 were £187,260 (2019 - £198,670).  In addition to this, the charity had £104,784 (2019 - £67,897) of restricted funds to be passed on to education network partners by way of funding grants and expenditure on network partner support. 

3 



## **TEACH FOR ALL NETWORK** 

## R E P O R T O F T H E T R U S T E E S ( C O N T I N U E D ) 

## **Year ended 30 September 2020** 

## **Grant making policy** 

Teach for All Network seeks projects to fund and does not accept unsolicited applications for grants. 

## **Future developments** 

The Trustees will continue with the primary objective of advancement of education for the public benefit in the UK and worldwide.  Teach For All Network is part of the Teach For All network, and endeavours to build the capacity of network partners in their effectiveness to address education inequality in the UK and worldwide.  The network currently has 55 partner organisations worldwide and in the future it has the plan to grow by adding approximately 4 organisations around the world each year. 

In the short term, Teach For All Network aspires to foster an environment conducive to the growth of the network and its partners, increase the capacity and impact of partners, and build a diverse and thriving organisation and network. Over the longer term, Teach For All Network aspires to several intended outcomes, including: developing a significant number of extraordinary leaders who teach successfully in high-need communities in Europe and beyond and continue working to ensure all children have the opportunity to fulfil their potential; building an interconnected global community of students, teachers, alumni, staff and allies who are learning from and supporting each other; providing an engine of innovation and learning, sharing expertise from within and beyond the network on creating transformational progress in classrooms and communities; and developing into an influential voice in the global discussion. 

## **Risk management** 

Given Teach For All Network’s relationship to Teach For All, Inc. in the US, risk management primarily takes place at the Teach For All, Inc. level. Each risk is assigned to a committee of the Teach For All, Inc Board and to a member of senior management to develop and monitor mitigation strategies. Additionally, Teach For All Network has taken out appropriate insurance policies, including Employers Liability, Public/Product Liability, and Management Liability policies. Examples of such risk include the inability to raise sufficient funds, attract and retain talent, maintain the safety and security of traveling staff, and avoid negative publicity. 

## **Trustees' responsibilities in relation to the financial statements** 

The Trustees (who are also directors of Teach For All Network ("the charitable company") for the purposes of company law) are responsible for preparing the Trustees' annual 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 affairs of the charitable company and of the incoming resources and application of resources, including 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 

The Trustees are responsible for keeping adequate 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. 

4 



## **TEACH FOR ALL NETWORK** 

R E P O R T O F T H E T R U S T E E S ( C O N T I N U E D ) 

## **Year ended 30 September 2020** 

## **Auditors** 

So far as each Trustee is aware, there is no relevant audit information of which the company's auditors are unaware. 

Each Trustee has taken all reasonable steps that he ought to have taken as a Trustee in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. 

In approving the Trustees' annual report, we also approve the strategic report included therein, in our capacity as company directors. 

On behalf of the board 


DAME JULIA CLEVERDON 05/11/ 2021 

5 



## **TEACH FOR ALL NETWORK** 

I N D E P E N D E N T A U D I T O R ’ S R E P O R T T O T H E M E M B E R S O F T E A C H F O R A L L N E T W O R K 

## **Year ended 30 September 2020** 

## **Opinion** 

We have audited the financial statements of Teach For All Network (the “charitable company”) for the year ended 30 September 2020 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 30 September 2020 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustee's 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 charitable company’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 trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 

6 



## **TEACH FOR ALL NETWORK** 

I N D E P E N D E N T A U D I T O R ’ S R E P O R T T O T H E M E M B E R S O F T E A C H F O R A L L N E T W O R K ( C O N T I N U E D ) 

## **Year ended 30 September 2020** 

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. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the Trustees report; or 

- Sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of Trustees** 

As explained more fully in the Trustees’ responsibilities statement set out on page 4, the Trustees (who are also 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 the Trustees 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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 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 is detailed below: 

7 



## **TEACH FOR ALL NETWORK** 

I N D E P E N D E N T A U D I T O R ’ S R E P O R T T O T H E M E M B E R S O F T E A C H F O R A L L N E T W O R K ( C O N T I N U E D ) 

## **Year ended 30 September 2020** 

We gained an understanding of the legal and regulatory framework applicable to the charitable company by considering, amongst other things, the sector, and jurisdictions in which it operates, and considered the risk of acts by the charitable company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the assessed level of risk, but recognised that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, UK Company Law, UK tax legislation and UK Charity Law. 

Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of third party tax advisers. 

As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by management that represented a risk of material misstatement due to fraud. 

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s 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 Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


……………………………………… Steven Wakefield (Senior Statutory auditor) For and behalf of Dixon Wilson Audit Services LLP, Statutory Auditor 22 Chancery Lane London WC2A 1LS 

## 14 May 2021 

Date:………………………….. 

Dixon Wilson Audit Services LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 

8 



## **TEACH FOR ALL NETWORK** 

S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S ( I N C L U D I N G I N C O M E A N D E X P E N D I T U R E A C C O U N T ) 

## **Year ended 30 September 2020** 

||**Note**|**Unrestricted**|**Restricted**|||
|---|---|---|---|---|---|
|||**Fund**|**Fund**|**Total Funds**|**Total Funds**|
|||**2020**|**2020**|**2020**|**2019**|
|||**£**|**£**|**£**|**£**|
|**Income from:**||||||
|Donations and legacies|4|3,234,222|43,529|3,277,751|_3,441,249_|
|Investments|5|421<br>|-<br>|421<br>|_956_|
|**Total income**||3,234,643|43,529|3,278,172|_3,442,205_|
|**Expenditure on:**||||||
|Raising funds|6|268,064|-|268,064|_68,109_|
|Charitable activities|7|2,979,182<br>|6,642<br>|2,985,824<br>|_3,284,349_|
|**Total expenditure**||3,247,246<br>|6,642<br>|3,253,888<br>|_3,352,458_|
|**Net (expenditure)/income**||||||
|**for the year**||(12,603)|36,887|24,284|_89,747_|
|Foreign exchange gain/(loss)||1,193<br>|-<br>|1,193<br>|(_87,006)_|
|**Net movement of funds**||(11,410)<br>|36,887<br>|25,477<br>|_2,741_<br>|
|Funds brought forward||198,670<br>|67,897<br>|266,567<br>|_263,826_|
|**Funds carried forward**||187,260|104,784<br>|292,044|_266,567_|



The Statement of Financial Activities includes all gains and losses for the year.  All incoming resources and resources expended derive from continuing activities. 

9 



## **TEACH FOR ALL NETWORK** 

## B A L A N C E S H E E T 

## **At 30 September 2020** 

## **Company No. 07567032 Charity Registration No. 1148763** 

|**Note**<br>**Current assets**<br>Debtors<br>13<br>Cash at bank<br>14<br>**Liabilities**<br>**Creditors falling due within one year**<br>15<br>**Net current assets**<br>**Total funds of the charity:**<br>Unrestricted funds<br>17<br>Restricted funds<br>17<br>**Total funds**|**2020**<br>**£**<br>24,423<br>470,248<br> <br>494,671<br>(202,627)<br> <br>292,044<br>187,260<br>104,784<br> <br>292,044|**2019**<br>**£**<br>_42,180_<br>_377,669_<br>|
|---|---|---|
|||_419,849_<br>_(153,282)_<br>|
|||_266,567_|
|||_198,670_<br>_67,897_<br>|
|||_266,567_|



For the year ended 30 September 2020, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.  The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.  The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements have been audited under the requirements of section 144 of the Charities Act 2011.  The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime in part 15 of the Companies Act 2006. 

The accounts on pages 9 to 17 were approved by the Trustees on 05/11/ 2021 and were signed on its behalf by: 


DAME JULIA CLEVERDON Director 

10 



## **TEACH FOR ALL NETWORK** 

## S T A T E M E N T O F C A S H F L O W S 

## **Year ended 30 September 2020** 

|**Note**<br>Net cash provided by/(used in) operating activities<br>20<br>_Cash flows from investing activities:_<br>Dividends and interest<br>Net cash provided by investing activities<br> <br>Change in cash and cash equivalents<br>Cash and cash equivalents brought forward<br>Cash and cash equivalents carried forward|**2020**<br>**Total**<br>**£**<br>92,158<br>421<br> <br>421<br>92,579<br>377,669<br>470,248|**2019**<br>**Total**<br>**£**<br>_(31,688)_<br>_956_<br> <br>_956_<br>_(30,732)_<br>_408,401_<br>_377,669_|
|---|---|---|



11 



N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 

## **TEACH FOR ALL NETWORK** 

## **Year ended 30 September 2020** 

## **1. Accounting policies** 

## **Basis of preparation** 

The accounts are prepared on a historical cost basis, in accordance with the Statement of Recommended Practice applicable for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – Charities SORP (FRS 102), the Financial Reporting Standards applicable to the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011. 

The Teach For All Network meets the definition of a public benefit entity under FRS 102. 

## **Preparation of the accounts on a going concern basis** 

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.  As a result, the accounts have been prepared on a going concern basis. 

The financial statements are presented in Sterling, being the functional currency of the charity, and are rounded to the nearest £. 

## **Incoming resources and resources expended** 

Donations receivable are recognised once the charity has entitlement to the donations, it is probable that the donations will be received and the monetary value of the donations can be measured with sufficient reliability. 

Donations and grants payable are included in the Statement of Financial Activities when approved by the Trustees and agreed with the donee. 

All other income and expenditure is recognised on an accruals basis. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.  Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Creditors** 

Creditors are recognised where the charity has a present obligation resulting from past events that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.  Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.  Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **Fund accounting** 

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.  Restricted funds are donations which the donor has specified are to be solely used for a particular area of the charity's work. 

## **Foreign currency transactions** 

Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at the rates of exchange ruling at the balance sheet date.  Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of the transaction.  Exchange differences arising on transactions in the year are taken to the Statement of Financial Activities. 

12 



## **TEACH FOR ALL NETWORK** 

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 

## **Year ended 30 September 2020** 

## **2. Legal status of the charity** 

The charity is a company limited by guarantee incorporated in the UK (registered in England and Wales) and has no share capital.  The charity’s registered office is 22 Chancery Lane, London WC2A 1LS. 

## **3. Prior year Statement of Financial Activities** 

|**3.**<br>**Prior year Statement of Financial Activities**|**3.**<br>**Prior year Statement of Financial Activities**|**3.**<br>**Prior year Statement of Financial Activities**|
|---|---|---|
|**Unrestricted**<br>**Restricted**<br>**Fund**<br>**Fund**<br>**Total Funds Total Funds**<br>**2019**<br>**2019**<br>**2019**<br>**2018**<br>**£**<br>**£**<br>**£**<br>**£**<br>**Income from:**<br>Donations and legacies<br>3,167,034<br>274,215<br>3,441,249<br>_2,796,400_<br>Investments<br>956<br>-<br>956<br>_379_<br> <br> <br> <br>**Total income**<br>3,167,990<br>274,215<br>3,442,205<br>_2,796,779_<br> <br> <br> <br>**Expenditure on:**<br>Raising funds<br>68,109<br>-<br>68,109<br>_67,550_<br>Charitable activities<br>2,961,120<br>323,229<br>3,284,849<br>_2,766,709_<br>Other expenditure – foreign exchange loss<br>87,006<br>-<br>87,006<br>_30,336_<br> <br> <br> <br>**Total expenditure**<br>3,116,235<br>323,229<br>3,439,464<br>_2,864,595_<br> <br> <br> <br>**Net income for the year**<br>51,755<br>(49,014)<br>2,741<br>_(67,816)_<br> <br> <br> <br>**Net movement of funds**<br>51,755<br>(49,014)<br>2,741<br>_(67,816)_<br> <br> <br> <br> <br>Funds brought forward<br>146,915<br>116,911<br>263,826<br>_(67,816)_<br> <br> <br> <br>**Funds carried forward**<br>198,670<br>67,897<br>266,567<br>_263,826_<br> <br>**4.**<br>**Donations and legacies**<br>**2020**<br>**2019**<br>**£**<br>**£**<br>Expenses paid on the charity’s behalf by the parent<br>163,319<br>_337,183_<br>Grants from the European Union<br>(6,471)<br>_149,215_<br>Donations received from individuals<br>5,000<br>_130,000_<br>Donations received from Latin American Children’s Trust<br>50,000<br>_-_<br>Donation received from parent<br>3,050,000<br>_2,943,826_<br>Foreign exchange on donations and grants paid by the parent<br>-<br>_(118,975)_<br>Contributed services<br>15,903<br>-<br> <br> <br>3,277,751<br>_3,441,249_|||
|**4.**<br>**Donations and legacies**<br>Expenses paid on the charity’s behalf by the parent<br>Grants from the European Union<br>Donations received from individuals<br>Donations received from Latin American Children’s Trust<br>Donation received from parent<br>Foreign exchange on donations and grants paid by the parent<br>Contributed services||**2020**<br>**£**<br>163,319<br>(6,471)<br>5,000<br>50,000<br>3,050,000<br>-<br>15,903<br> <br>3,277,751|



13 



## **TEACH FOR ALL NETWORK** 

## N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 

## **Year ended 30 September 2020** 

|**5.**<br>**Investment income**<br>Interest income|**2020**<br>**£**<br>421|**2019**<br>**£**<br>_956_|
|---|---|---|
|**6.**<br>**Cost of raising funds**<br>Fundraising activities|268,064|_68,109_|



Expenditure on fundraising activities was wholly funded by unrestricted funds.  The expenditure out of restricted funds was £nil (2019 - £nil). 

## **7. Charitable activities** 

|Partner Support|**Direct**<br>**activities**<br>**£**<br>2,328,118<br> <br>2,328,118|**Support**<br>**costs**<br>**£**<br>657,706<br> <br>657,706<br>|**Total**<br>**2020**<br>**£**<br>2,985,823<br> <br>2,985823|**Total**<br>**2019**<br>**£**<br>_3,284,349_<br>|
|---|---|---|---|---|
|||||_3,284,349_|



The expenditure out of restricted funds on partner support was £6,642 (2019 - £323,229). 

## **8. Analysis of support and governance costs** 

The main charitable activity is to provide support to Network Partners.  The breakdown of support and governance costs is shown below: 

|**Support costs:**<br>Staff costs<br>Legal and professional fees<br>Rent<br>Office costs<br>Travel and subsistence<br>Bank charges<br>Entertainment<br>Sundry<br>Bad debts<br>IT expenses<br>Pandemic disruptions costs<br>**Governance costs:**<br>Auditor’s remuneration (note 9)|**2020**<br>**£**<br>318,606<br>92,551<br>100,735<br>105,879<br>2,109<br>5,493<br>2,570<br>-<br>-<br>4,429<br>10,848<br>14,486<br> <br>657,706|**2019**<br>**£**<br>_352,251_<br>_90,125_<br>_96,474_<br>_106,062_<br>_37,508_<br>_6,037_<br>_3,157_<br>_148_<br>_407_<br>_-_<br>_-_<br>_17,428_<br> <br>_709,597_|
|---|---|---|



Support costs are allocated based on staff time based on the budget manager’s assessment of where they expect the individual to focus their time. 

Governance costs are all allocated to charitable activities. 

14 



## **TEACH FOR ALL NETWORK** 

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 

## **Year ended 30 September 2020** 

|**9.**<br>**Auditor’s remuneration**<br>Fees payable to the charity’s auditor for the audit of the charity’s financial statements<br>Fees payable to the charity’s auditor for other services<br>Total|**2020**<br>**£**<br>8,366<br>6,120<br> <br>14,486|**2019**<br>**£**<br>_8,112_<br>_9,316_<br> <br>_17,428_|
|---|---|---|



## **10. Trustees’ remuneration** 

No Trustees received remuneration or reimbursement of expenses during the period. 

## **11. Analysis of staff costs** 

|Salaries and wages<br>Pension costs<br>Social security costs<br>Health insurance<br>Training and development<br>Other benefits|2,301,096<br>93,165<br>289,826<br>94,392<br>1,156<br>20,005<br> <br>2,799,641|_2,490,894_<br>_92,987_<br>_115,834_<br>_35,689_<br>_5,377_<br>-<br>|
|---|---|---|
|||_2,740,781_|



The average monthly number of full-time equivalent employees (including casual and part-time staff) during the year was 26 (2019 - 28). 

The key management of the personnel of the charity comprise the Trustees, the Head of People, Organisation and Culture, the Global Head of Communications and Public Affairs, the Global Consultant and the Head of Africa Region. The total employee benefits of the key management personnel of the charity were £460,787 (2019 - £449,324). 

The number of employees whose emoluments were in excess of £60,000 during the year was: 

||**2020**|**2019**|
|---|---|---|
||**Number**|**Number**|
|£60,001 - £70,000|3|_1_|
|£70,001 - £80,000|2|_3_|
|£80,001 - £90,000|1|_3_|
|£90,001 - £100,000|1|_1_|
|£100,001 - £110,000|-|_-_|
|£110,001 - £120,000|2|_1_|
|£120,001 - £130,000|1|_1_|
|£130,001 - £140,000|-|_-_|
|£140,001 - £150,000|-|_-_|
|£150,001 - £160,000|-<br>|_-_<br>|
||10|_10_|



## **12. Taxation** 

Teach For All Network is a registered charity and as such is exempt from tax on its income to the extent this is applied for charitable purposes. 

15 



## **TEACH FOR ALL NETWORK** 

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 

## **Year ended 30 September 2020** 

|**13.**<br>**Debtors**<br>Prepayments<br>Other debtors|**2020**<br>**£**<br>24,143<br>280<br> <br>24,423|**2019**<br>**£**<br>_36,176_<br>_6,004_<br> <br>_42,180_|
|---|---|---|



## **Contingent assets** 

At the Balance Sheet date, the charity had recognised £50,000 of a £150,000 grant subject to performance related conditions.   The second and third instalments are due in September 2021 and September 2022. 

|**14.**<br>**Cash at bank**<br>Current account|470,248|_377,669_|
|---|---|---|
|**15.**<br>**Creditors: amounts falling due within one year**<br>Accruals<br>Other creditors|127,899<br>74,728<br> <br>202,627|_91,737_<br>_61,545_<br> <br>_153,282_|



## **16. Liability of members** 

The charity is limited by guarantee and has no share capital.  The Memorandum of Association provides that the parent company is liable to contribute a sum not exceeding £100 in the event of the charity being wound up. 

## **17. Funds** 

**Unrestricted funds** – comprises the undistributed income of the charity which the Trustees are free to use in accordance with the charity’s objectives. 

**Restricted funds** – comprises donations made in order to fund the activities of network partners based overseas. Restricted funds of £nil (2019 - £149,215) were received in order to support the activities of Teach For Bulgaria, a network partner. 

The assets of the charity are divided as follows: 

||**Unrestricted**|**Restricted**||
|---|---|---|---|
||**Fund**|**Fund**|**Total**|
||**£**|**£**|**£**|
|Cash and cash equivalents|365,464|104,784|470,248|
|Debtors|24,423|-|24,423|
|Creditors|(202,627)<br>|-<br>|(202,627)<br>|
||187,260<br>|104,784|292,044|



16 



## **TEACH FOR ALL NETWORK** 

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S 

## **Year ended 30 September 2020** 

|**18.**|**Categorisation of financial instruments**|**2020**|**2019**|
|---|---|---|---|
|||**£**|**£**|
|Financial liabilities measured at amortised cost||74,728|_61,545_|



## **19. Related party transactions** 

During the period the charity received donations of £5,000 (2019 - £5,000) without conditions from its Trustees. 

Teach For All, Inc (parent company) provided working capital and paid expenses on behalf of the charity totalling £3,213,319 (2019 - £3,281,009). 

## **20. Reconciliation of net movement in funds to net cash flow from operating activities** 

|Net movement in funds<br>Deduct income from investments<br>(Decrease)/increase in creditors<br>(Increase)/decrease in debtors<br>Net cash used in operating activities|**2020**<br>**£**<br>25,477<br>(421)<br>49,345<br>17,757<br> <br>92,158|**2019**<br>**£**<br>_2,741_<br>_(956)_<br>_(26,168)_<br>_(7,305)_<br> <br>_(31,688)_|
|---|---|---|



## **21. Control** 

The charity's immediate and ultimate parent is Teach For All, Inc, incorporated in the USA with registration number 262122566, whose principal purpose is the provision of technical assistance and strategic expertise to local enterprises engaged in building the movement to end educational inequality. 

Teach For All, Inc has the power to appoint or remove the majority of Trustees. 

The most senior parent entity producing publically available financial statements is Teach For All, Inc.  These financial statements are available upon request from Teach For All, Inc, 25 Broadway, 12[th] Floor, New York, NY 10004, USA. 

17