Docusign ErNelope10.' 011A6E07-CA7PAE30-802D-6C4D2C8658C6
Charity Registratlon No. 1160524
ELEVA FOUNDATION LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BUSINESS
ADVISORS
& ACCQUNTANTS
One Bell Lane
Lewes
East 5u55ex
BN7 IJU

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ELEVA FOUNDATION LTD
CONTENTS
Page
Company information
Trustees, report
Statement of trustees, responsibilities
Independent auditor's report
7-11
Statement of financial activities
12
Balance sheet
13
Statement of cash flows
14
Notes to the financial statements
15-19

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ELEVA FOUNDATION LTD
COMPANY INFORMATION
Trustees
Mrs Kirsty Bendahan
Ms Andrea Morrall
Charlty number
1160524
Principal address
c/0 Eleva Capital Partners IUKI Ltd
4th Floor (East)
62-64 Baker Street
London
WIU 7DF
Auditor
TC Group
One Bell Lane
Lewes
East Sussex
BN7 IJU

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ELEVA FOUNDATION LTD
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note I to the
financial statements and comply with the charity's constitution, the Charities Act 2011 and "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 IFRS 1021"
(effective l January 20191.
Objectives and activities
The charity's objects are to relieve the needs of children worldwide who are living in poverty, do not have access
to education, or have experienced a manmade or natural disaster or other humanitarian crises by the provision of
grants to charities andlor other organisations working to relieve such needs.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
We have a collaboration with UNICEF. We are impressed with theif reach, transparency, and experience in eliciting
long term sustainable change. We aim to help them to achieve even more for the hardest to reach children by
providing support for..
long term, sustainable development of emerging nations,.
ensuring that children are at the forefront of policy and planning,. and
their rapid, impactful emergency relief.
Achievements and performance
A5 part of our multi-year commitment, the Eleva Foundation received donations during the reporting period to
continue its support for two UNICEF programmes
A Centre of Excellence for Maternal Health in the Central African Republic
Community-based Nutrition in Papua New Guinea
More inforTnation on some of these programmes can be found on the Eleva Foundation webpage at.. htt
www.elevaca
ital.com
en
eleva-foundation

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ELEVA FOUNDATION LTD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The donation received throughout the reporting period has been allocated in April 2024 35 follo¥Ns'.
A Centre of Excellence in the Central Afrfcan Republic: £206,261
The Central African Republic is the most dangerous place in the world to be born. It has the highest stillbirth rate
and second number of newborn deaths in the world. Preventable conditions like sepsis, low birth weight and
asphyxia are killing thousands of infants every year as a result of 3 lack of specialised facilities and a severe lack of
health workers. In a country of more than 4 million people, there is currently just one specialised facility for babies
and only three incubators to care for low birth weight and premature babies.
To reduce the maternal and neonatal mortality rates in the country, Eleva Foundation's investment is helping to
turn Bangui Hospital's paediatric facility into a National Centre of Excellence for neonatal care. This will be the
first-of-its-kind in the country and will be an example of an innovative and powerful model for improving quality of
are through skills-based practical learning.
Through our funding, this three-year programme will help to improve the survival chances of 28.391 newborns
and 32.447 pregnant women. In addition to the creation of the Centre of Excellence. neonatal units will be
established at five district hospitals, 134 health facilities will be equipped with maternal and newborn care
equipment and supplies and 304 health personnel will be provided with training to improve their clinical skills.
We are now in our second year of funding this programme, with our support to date totalling £2 million. Over the
course of the first year of funding. the room to be used as the simulation and learning centre has been
rehabilitated and the first training sessions have been completed.
Community-based Nutrltion in Papua New Guinea: £0.5 mllllon
Almost half of all children under five in Papua New Guinea are stunted
a clear sign that children are not
developing to their full potential. Over a third of women of childbearing age suffer from iron deficiency anaemia,
increasing the risk of death during or shortly after childbirth. At the same time. only 40 per cent of the population
in the country have access to health care facilities.
Funding from Eleva Foundation is helping address these issues and aims to reach 1.96 million children and
mothers with a package of nutrition services across 10 provinces. Through our support of this three-year
programme, UNICEF aims to reduce stunting in children under five by three per cent by 2024.
We are now entering the second year of our support to this programme. This year we contributed a further £ 0.5
million to the programme bringing our total to £2.5 million.
During the first two years of implementation, activities began in three provinces, reaching an initial 67,053 women
and children with essential nutrition services. Additional recruitment and other capacity building activities are
being undertaken to enable implementation in the remaining seven provinces.

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ELEVA FOUNDATION LTD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
Eleva (the Group) is a financial services group. The year to 31 March 2024 represents the Group's height full year
of trading.
During the financial year, the Eleva Foundation LTD, received a total donation amount of £4,995,803 (2023
£4,651.6331. from which..
£ 683.878 ieceived from Eleva Capital SAS12023'. £765,4501. Eleva Capital SAS is a French Sociéte par
Actions Simplifiée domiciled in 61 rue des Belles Feuilles. 75016 Paris. France, whose principal activity is
that of an asset mav)agement company under Article L. 532-9 of the Code Monetaire et Financier, duly
authorised by the AMF IAutorite des Morches Finunciersl.
£ 22,385 received from ELEVA Solutions SAS12023.' Nill. ELEVA Solutions SAS is a French Sociéte par
Actions Simplifiee domiciled in 61 rue des Belles Feuilles. 75016 Paris, and a subsidiary company of ELEVA
Capital SAS, specialised in the distribution of Financial Instruments.
Eleva Capital Partners IUKI Ltd is pledged to donate £4,289,542. This has been recognised as donation income in
the year and is to be paid during the next reporting period.
During the financial year, Eleva Capital LLP ceased its attivities from 1st of April 2023 and the donation pledge
made by LLP has been taken over by Capital Partner for £1,252,877. As such. the prior year donation from LLP has
been written off for £1,288,188, with the difference arising from fluctuations in foreign exchange rates between
the periods.
The charity allocated £ 706,261 in April 2024 to UNICEF within their collaboratiorF12023.- £ 4,679,000) of donations
received throughout the reporting period.
The charity aims to keep administrative expenditure to a minimum, and to distribute Substantially all of the
income it receives during the year to specific UNICEF projects and/or emergency funding. It is not the charity's
policy to maintain cash reserves. In the event of a significant variation in funding, year on year. charitable
distributions will be adjusted accordingly.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in
place to mitigate exposure to the major risks.
Structure, governance and management
The charity 15 a Charitable Incorporated Organisation established by its constitution on 17 February 2015.
The trustees who served during the year and vp to the date of signature of the financial statements were:
Mr5 Kirsty Bendahan
Ms Andrea Morrall
Day to day administration of the charity and all decision making, including decisions on those projects to fund, are
dealt with by the trustees.
Auditor
In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the
CIO will be put at a General Meeting.

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ELEVA FOUNDATION LTD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Dlsclosure of Information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the
audit. but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of Such information.
The tru5tees' report was approved by the Board of Trustees,
OoctsStsJn•d by..
3bJn¢dby.'
ALL
Mrs Kirsty Bendahan
Trustee
Ms Andrea Morrall
Trustee
21-01-2025 | 1..28 PM CET
Date..

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ELEVA FOUNDATION LTD
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees 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).
The law applicable to charities in EnEland and Wales 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 charity and of the incoming resources
and application of resources of the charity for that year.
In preparing these financial statements. the trustees are required to..
selert suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent,.
State whether applicable accounting standard5 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 charity
will continue in operation.
The trustees are responsible for keoping sufficient accounting records that disclose with reasonable accuiacy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with
the Charitie5 Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detettion of fiaud and other irregularities.

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ELEVA FOUNDATION LTD
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ELEVA FOUNDATION LTD
Opinion
We have audited the financial statements of Eleva Foundation Ltd (the 'charity') for the year ended 31 March
2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the
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 Practicel.
In our opinion. the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 March 2024 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;
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Stsndafd5 on Auditing IUKI {ISAs IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilitiesfor the audit
of the finoncit71 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 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 15 su￿1Clent and appropriate to provide a basis for our
opinion.
Conclusions relating to going concem
In auditing the financial ststements. we have concluded that the trustees, use of the going concern ba515 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 collettively, 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 trustees with respect to going concern are described in the
relevant sections of this report.

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ELEVA FOUNDATION LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ELEVA FOUNDATION LTD
Other information
The trustees are responsible for the other information. The other information comprises the information included
in the trustees, annual report, other than the financial statements and our auditor's 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 intormation 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
mi5Statement in the financial statements or 3 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 IAccounts and
Reports) Regulations 2008 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 sLitements are not in agreement with the accounting records and returns,- or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for suth
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 Pfeparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as
a going concern, disclosirig, as applicable. matters related to going concern and using the going concern basis of
accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

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ELEVA FOUNDATION LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRU5fEES OF ELEVA FOUNDATION LTD
Audltor's responslbillties for the audit of the flnanclal statements
Our objettives 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 include5 our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI 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 economi¢ decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our
procedures are capable of detecting irregularities. including fraud, is detailed below.
Extent to which the audit was considered capable of detecting Irregularltles, Including fraud
The objectives of our audit, in respect to fraud, are= to identify and assess the risks of material misstatement of
the financial ststements due to fraud.. to obtain sufficient appropriate audit evidence regarding the assessed risks
of material misstatement due to fraud, through designing and implementing appropriate responses- and to
respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility
for the prevention and detection of fraud rests with both those charged with governance of the entity and its
management.

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ELEVA FOUNDATION LTD
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF ELEVA FOUNDATION LTD
Our approach was as follows-
We identified areas of laws and regulations that could reasonably be expected to have a material effect
on the financial statements from our general commercial and sector expefience, and through discLt5sion
with the directors and other management las required by auditing standards), and discussed with the
directors and other management the policies and procedures regarding compliance with laws and
regulations,.
We identified the following areas as those most likely to have such an effect: General Data Protection
Regulation IGDPRI,. fraud and bribefy and corruption. Auditing standards limit the required audit
procedures to identify non-compliance with these laws and regulation5 to enquiry of the trustees and
other management and inspection of regulatory and legal correspondence, if any.
We considered the legal and regulatory frameworks directly applicable to the financial statements
reporting framework IFRS 102 and the Charities Act 20111 and the relevant tax compliance regulations in
the UK,.
We considered the nature of the company's operations. the control environment and business
performance, including the key driver5 for management's remuneration;
We communicated identified laws and regulations throughout our team and remained alert to any
indication5 of non-compliance throughout the audit:
We considered the procedures and controls that the group has established to address risks identified, or
that otherwise prevent, deter and detect fraud,. and how senior management monitors those
programmes and controls.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Where the risk was considered to be higher, we performed audit procedures to addres5 each
identified fraud iisk. These procedures included-. testing manual journals- reviewing the financial statement
disclosures and testing to supporting documentation- performing analytical procedure5- and enquiring of
management, and were designed to provide reasonable assurance that the financial statements were free from
fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we fflay not have detected some
matef ial misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing staF)dards. For example, the further removed non-compliance with laws and
regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely
the inherently limited procedures required by auditing Standards would identify it. The risk is also greater
regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment,
forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and
cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. http'.l/www.frc.org.uklauditorsresponsibilities. This description forms part of our
auditor's report.
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ELEVA FOUNDATION LTD
INDEPENDENT AUDifoR'S REPORT (CONTINUED)
TO THE TRUSfEES OF ELEVA FOUNDATION LTD
Use of our report
This report is made solely to the charity's members, as a body, in accordance with the Charities Act 2011. Our
audit work has been undertaken so that we might state to the charity's members those matters we are required
to State to him 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 opinion5 we have formed.
David Martin FCA (Senior Statutory Audltor}
for and on behalf of TC Group
Statutory Auditor
Office: Lewe5
11

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ELEVA FOUNDATION LTD
STATEMENT OF FINANCIAL AcfiviTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Unrestricted
funds
funds
2024
2023
Income from:
Donations and legacies
4,995,803
4,651,633
Ex
enditure on:
Expenditure on Charitable activities
1,288,191
5,712,035
Net incoMe/lexpenditu￿} for the year/
Net movement in funds
3.707.612 11,060.4021
Fund balances at l April 2023
1.278,320
2.338.722
Fund balances at 31 March 2024
4.985,932
1.278,320
The statement of financial activities includes all gains and losses recognised in the year.
The statement of firkancial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.
12-

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ELEVA FOUNDATION LTD
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notes
Current assets
Debtors
Cash at bank and in hand
4,289,542
706,909
1.288,188
651
4,996,451
1.288.839
Creditors: amounts falling due within one
vear
110,519)
(10.5191
Net current assets
4,985,932
1,278,320
The funds of the charlty
Unrestricted funds
io
4,985,932
1,278.320
4,985,932
1,278,320
21-01-2025 1 1:28 PM CET
The financial statements were approved by the trustees on .........................
DoC￿514n￿d by_
S*n•d by..
40A6￿5*y￿￿O4A*.....
Mrs Kirsty Bendahan
Trustee
M5 Andrea Morrall
Trustee
13-

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ELEVA FOUNDATION LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activitie5
Cash generated from/labsorbed by)
operations
12
706,258
{27,4541
Net cash used In investing activities
Net cash used in financins activities
Net increaselldecreasel In cash and cash
equivalents
706.258
127,4541
Cash and cash equivalent5 at beginning of year
651
28,105
Cash and cash equivalents at end of year
706,909
651
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ELEVA FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMEf+irs
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policies
Charity inforniatlon
Eleva Foundation Ltd is a Charitable Incorporated Organisation in England and Wales established by its
constitution on 17 February 2015. The address of the registered office is given in the legal and administrative
information page of these financial statements. The registered charity number is 1160524. The CIO
registration number is CE002680.
1.1 Accounting convention
These accounts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 20191, the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Charities Act 2011
and UK Generally Accepted Accounting Prattice as it applies from l January 2019. The charity is 3 Public
Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
The trustees have assessed whether the going concern basis of preparation continues to be appropriate,
based on whether there are any material uncertainties related to events or conditions that may cast
significant doubt on the ability of the company to continue as a going concern.
At the time of approving the financial statements the trustees believe that all appropriate measures have
been or will be taken to ensure that the company will be able to continue its operations for at least the next
12 months and thus conclude that the going concern basis remains appropriate.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitsble
objettives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance condition5 have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised when the charity is entitled to the donation. when receipt is probably and the
amount can be measured reliably. subject to any terms or conditions being attached to the donation that
need to be satisfied before the charity is entitlted to the donation. on receipt. Other donations are
recognised once the charity has been notified of the donation, unless performance conditions require
deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid Of deed5 of
covenant is recogni5ed at the time of the donation.
15

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ELEVA FOUNDATION LTD
NOTES TO THE FINANCIAL sfATEMENTS ICONTINVED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policles
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution.
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
1.5 Expenditure
Expenditure is included on an accruals basis.
Charitable activities - Charitable activities include expenditure associated with the objectives of the charitv
and also include support costs relating to these activities.
1.6 Cash and cash equivalents
Cash and cash equivalent5 include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
1.7 Financial instruments
The charity ha5 elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contrartuAI provisions of the instrument.
Financial assets and liabilitie5 are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Bttsicfinanciol assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at 3mortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at a market rate of interest. Financial
assets classified as receivable within one year are not amortised.
Basicfinuncial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
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ELEVA FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacles
Unrestrfcted
funds
2024
Unrestrlcted
funds
2023
Donations and gifts
4,995,803
4,651,633
Expenditure on charitable activities
2024
2023
Direct costs
Charitable donations
Bad debts
5,711.948
1,288,188
1,288.188
5.711,948
Share of support and governance costs (see note 4)
Support
87
1,288,191
5,712,035
Analysis by fund
Unrestricted funds
1.288,191
5,712,035
Support costs allocated to activities
2024
2023
Bank charges
87
Analysed between:
Unrestricted funds
87
The audit fee of £5,676 {2023 - £4,300) will be partially met by Eleva Capital Services IUKI Ltd.
Trustees
None of the trustees lor any persons connected with them) received any remuneration or benefits from the
charity during the year.
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Docusign Envelope10". 011A6ED7_CA764E30_B02D-6C4D2C8658C6
ELEVA FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Employees
There were no employees during the year.
There were no employees whose annu31 remuneration was more than £60,000.
Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Debtors
2024
2023
Amounts falling due within one year:
Other debtors
4,289,542
1,288,188
Creditors: amounts falling due within one year
2024
2023
Other creditors
10.519
10,519
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended b31ances of donations and grants which are
not subject to specific conditions by donors and grantors a5 to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At l April 2023
Incoming
resources
Resources At 31 March
expended
2024
General funds
1,278,320
4,995,803
11,288,1911
4,985,932
Previous year:
At l April 2022
Incoming
resources
Resources At 31 March
expended
2023
General funds
2,338,722
4,651,633
15,712,035)
1,278,320
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Docusign Envelope ID.. 011A6ED7-CA764E3(k802D-6C4D2C8658C6
ELEVA FOUNDATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Related party transactlons
The Foundation received donations of £683,87812023 - £484,831) from Eleva Capital SAS, a group company.
At the year end there was no outstanding amount due from the company.
The Foundation received donations of £22,384 (2023 - £nill from Eleva Solutions SAS, a group company. At
the year end there was no outstanding amount due from the company.
The Foundation received donations of £4,289,54212023 £4,166,802} from Eleva Capital Partners IUKI
Limited, a group company. Atthe year end the amount due from Eleva Capital Partners is shown in debtors.
12 Cash generated from operations
2024
2023
Surplus/ldeficitl for the year
3,707,612
11,060,402)
Movements in working capital:
(Increasel/decrease in debtors
13.001.354)
1.032,948
Cash generated from/(absorbed by) operations
706.258
127,4541
13 Analysis of changes in net funds
The charity had no material debt during the year.
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