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2025-10-31-accounts

Report of the Trustees & Annual Accounts

For the year: 1st November 2024 to 31st October 2025

Contents
Charity Information 3
Report of the Trustees 4
Report of the Independent Examiner 12
Statement of Financial Activities 13
Balance Sheet 14
Notes to the Financial Statements 15

Clean Water . Sustainable Farming . Livelihood . Training & Education . Bee Farming . Carbon Life Balancing Details and impact of our programme in over 50 villages in South East Sierra Leone can be found on: www.roryswell.org

For more information about Rory’s Well visit: www.roryswell.org or contact Karen Binns on: 07970 549443 email: roryswell@icloud.com Rory’s Well is a Registered Charity no:1165664

Charity information

Trustees:

Karen Binns (Chair) Nicholas Acland Neil Brent (Treasurer) Sean Mills Katherine Brent

Registered Office:

The Keepers, Symn Lane, Wotton-under-Edge, Gloucestershire, GL12 7BD

Registered Charity Number: 1165664

Independent Examiner: Keith Du-Rose

42 Longs View, Charfield, Glos. GL12 8HZ

Bankers:

Barclays Bank Leicester LE87 2BB

3

Report of the Trustees

Overview of the charity

Rory’s Well works in the Pujehun region of Sierra Leone to provide clean water, improve food security and build resilience to climate change and economic challenges through digging and maintaining wells, environmentally sustainable farming and livelihood creation.

We are a life-giving charity working sensitively and co-operatively within rural Sierra Leone, empowering local people and transferring skills for future independence - helping those in need to help themselves in a truly sustainable way.

Why is our work needed?

Pujehun is one of the poorest regions in Sierra Leone, which in turn is ranked 184 out of 193 countries in the world from the 2023-24 Human Development Report, which was published by the United Nations Development Programme (UNDP) in March 2024.

The rural communities have no access to clean safe drinking water without NGO support meaning people drink contaminated water from the local streams. This leads to a wide range of health issues and is a time-consuming and physically exhausting process taking time from other activities such as more sustainable and effective food production and education for the children.

The communities are largely subsistence farmers whose crops cannot always provide adequate food and nutrition for their families or any surplus to sell to provide income for other needs e.g., education, housing or healthcare. Post the civil war communities had lost the ability and knowledge to work in traditional communal ways in the fertile swamplands exacerbating the issue. Farming yields are also being further impacted by more difficult weather patterns due to climate change.

Our Vision

Our vision is that Communities in Sierra Leone have food security without on-going support, achieve greater resilience, and are farming in ways that will protect their land and the environment in the longer term. In 5 years from now, our aim is that everyone in the areas where Rory’s Well works should have access to safe clean water all year round and also that families have achieved a basic level of economic self-sufficiency.

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Rory’s Well Annual Report & Accounts 31 October 2025

Our Values

TRUST:

Trust is a core value of many organisations as it is the glue that makes relationships work which is vital. We see it as a vital focus that guides our decisions and actions in all aspects of Rory’s Well. With trust, complex things become simple and doable, and without it, especially in such a different culture, things stall or worse go wrong. To build trust you’ve got to be there through the good and the bad times and deliver on your promises.

We understand that trust is a continuous process and we always strive to ensure our relationships are mutually strong.

AMBITION:

Ambition is something that we as an organisation have strived to achieve from day one. Often charities who work with rural communities in developing countries have a single project. Our goal didn’t allow for a single project, so instead we developed multiple projects which together met our goal and benefited the communities as a whole.

The current Rory’s Well projects are: Clean Water, Swamp Rice Farming, Women’s Farming & micro-finance schemes and Bee farming. Although these are our main focuses after many years of development, we understand that the needs of the communities we work with can change. If their needs do change and we identify a suitable project then together our ambitious nature will adapt once more.

EMPOWERMENT:

Our goal from the outset of Rory’s Well has been to work collaboratively with the communities from inception, to planning and then implementation. A key principle we consider throughout any project is ensuring that it is self-sustaining by the communities themselves. We feel our collaborative approach and self-sustaining principle ensures the communities we work with are empowered to lead on the projects once we have worked together to implement them.

Collaboration is not the only way we try and empower the communities. Education is another vital tool we use. With each project we have developed an education section, which ensures there are experts within the community, and learning can be transferred from within. We feel empowerment through collaboration and learning will ensure the long-term success of the projects.

REGENERATION:

Along with humanitarian work, helping the environment is a key part of what we do as a charity, as we believe that the two are intrinsically linked. We will always strive to be sustainable, however moving forwards we want to go a step further and move towards being regenerative wherever possible. Whereas sustainable practices seek to maintain the same - to meet the needs of the present without compromising the needs of the future - regenerative practices go a step further by seeking to restore and enhance natural systems.

By working holistically with the communities in Sierra Leone, using regenerative farming techniques we hope to help people and the environment. Through regenerative agriculture techniques such as swamp rice farming and inga alley cropping, we aim to help communities to build livelihoods through productive farms. As well as the humanitarian benefits, these practices help to reduce deforestation by providing an alternative to slash and burn, as well as restoring and maintaining soil health.

5

Rory’s Well Annual Report & Accounts 31 October 2025

Our Programmes

Clean Water:

Why is the project needed?

The Barri Chiefdom in Pujehun is one of the poorest areas in Sierra Leone with no infrastructure to provide clean drinking water. So in this area Rory’s Well has taken the responsibility of maintaining functioning wells for rural villagers who would otherwise depend on contaminated water from rivers and streams. We currently provide water to around 50,000 people.

What are we doing?

We currently maintain and service 170 wells and have completed our training programme which enables villagers to engage in preventative maintenance. We continue to repair five to six pumps monthly but we are actively looking to source cheaper spare parts which we believe will enable us to increase the number of pumps we service monthly for the same amount of expenditure. We are also piloting repairs to solar wells particularly in schools and clinics which have been installed by other charities but which are now broken. This often involves not only fixing the pumps but running pipes from the solar wells into the villages thus increasing the number of people who have access to water from these wells. We continue to evaluate phone charging stations as a method of generating money from the villagers to help pay for repairs.

Achievements in the last year (November 24 – October 25)

Priorities for next year (November 25 – October 26)

6

Rory’s Well Annual Report & Accounts 31 October 2025

Our Programmes (continued...)

Farming:

Why is the project needed?

As mentioned above, Sierra Leone is among the most deprived countries in the world and within it Pujehun is one of the most deprived regions.

We work in remote villages near the Gola rainforest where subsistence farming means moving the upland farms every 2-3 years by ‘slash & burn’ cultivation, leading to deforestation and erosion which are worsened by changing rain patterns due to climate change.

What are we doing?

Our farming projects improve food and income security by supporting the development of sustainable community farms using swamp rice farming and Inga agroforestry to enhance soil fertility and create permanent farms; and grainstores to enable crop storage for sale and replanting. We trial drought and flood resistant crops at the demonstration farm and are trialling crop rotation with groundnuts in the swamp rice farms. We are working to improve resilience in the villages by setting up community loan schemes.

• Community swamp rice farms (CIVS) retain fertility better than the upland farms and the harvest is shared among those working the farm, giving more food and enabling seed rice to be stored for both the community and individual farms. By the end of 2025 we will have developed 34 CIVS farms with grainstores and drying floors.

• Community Women’s Farms (CWF) are upland farms are worked by village women’s groups to grow groundnuts and other crops which supplement the family diet and can be sold to generate income. We are planting Inga Alleys within these farms to improve soil fertility and create permanent farms and cash crop orchards to improve income. By the end of 2025 we will have developed 28 CWF with Inga and 6 without Inga, including 4 next to the Gola Forest.

Achievements in the last year (November 24 – October 25)

Priorities for next year (November 25 – October 26)

7

Rory’s Well Annual Report & Accounts 31 October 2025

Our Programmes (continued...)

Bee Farming:

Why is the project needed?

We work in an environmentally sensitive area largely populated by subsistence farmers where livelihood opportunities that do not damage that environment are not readily available. Bee-farming in the way we teach it offers households an opportunity to add to their income by producing honey and beeswax products for sale. Others not directly involved in production also benefit by earning money from blacksmithing, tailoring, sales etc. Honey and beeswax products can be categorised as a Non-Timber Forest Products (NTFP). Not only does it cause minimal environmental damage there is evidence that it promotes forest protection.

What are we doing?

Achievements in the last year (November 24 – October 25)

Priorities for next year (November 25 – October 26)

8

Rory’s Well Annual Report & Accounts 31 October 2025

Monitoring and Evaluation of Projects November 24 - October 25

Financial Statement

As described above under the various projects 2024/2025 was another successful year for Rory’s Well with many achievements across all the charity’s activities. Expenditure at £157,613 was significantly higher than the previous year (£102,561) which reflects the high level of activity during the year including the purchase of a new vehicle (£19,136) and also five quarters’ worth of expenditure to our partner NGO, PAD-SL, in Sierra Leone due to timing issues on bank transfers.

We were successful in attracting donations from individual supporters of £36,542 and achieved a total income of £143,764. This left us with a reduced deficit of £13,849 compared to a deficit of £29,106 in the previous year. In both years however the deficit was largely due to timing of funding receipts and project planning. We are currently forecasting a modest surplus in the present financial year.

At the year-end we had just over two months of unrestricted funds and Net Current Assets covering just below four months’ expenditure.

Trustees review the financial position on a very regular basis and new projects are only undertaken once there is firm committed funding identified and available for them.

Main Funding Sources

The main sources of income for the current year will continue to be from our very generous cohort of regular individual donors, the continuing invaluable support from Trusts and Foundations as well as local fund-raising events and support from matched funding schemes such as the Big Give. We also continue to benefit from our partnership with Bees Abroad. Trustees continued to focus on fundraising during the current year in order to bring unrestricted reserves up to the target level and to support the on-going work in Sierra Leone.

Reserves Policy

Our reserves policy is set to ensure that our work is protected from the risk of disruption at short notice due to a lack of funds, whilst at the same time ensuring that we do not retain income for longer than required. The trustees have determined that the Charity ideally needs to hold free reserves of between three and six months expenditure for the following purposes:

Unrestricted reserves fell during the year and at the year-end were £29,948 (£34,559 in 23/24). This represented just over two months' outgoings which is outside the policy stated above. This is due to the issues of timing mentioned above and the purchase of a new vehicle for PAD-SL just before the year-end. Reserves have since increased to within our policy range..

9

Rory’s Well Annual Report & Accounts 31 October 2025

Structure, Governance and Management

Governing document

We became registered as a charitable incorporated organisation on 22nd February 2016.

Governance

The trustees meet on a quarterly basis to approve the strategy, and review the finances, policy, risk and governance of the charity. They hold additional meetings if key decisions need to be made. Overall management is delegated to Karen Binns, and day-to-day operations are delegated to members of the Trustee Board who each oversee particular projects – Kath Brent (farming activities), Neil Brent (bees), and Sean Mills (wells).

The trustees who served during the year are listed on page 3. New trustees are appointed as necessary by a resolution of the majority of existing trustees. Before being appointed wherever possible prospective trustees visit Sierra Leone in order to meet the local team and to see the work on the ground. Once appointed they are then inducted both formally and informally. This will include meetings with the Chair of Trustees and other trustees in advance of their first trustees’ meeting. They are also supplied with information from the Charity Commission concerning best practice and advice for new trustees.

Conflicts of Interest:

There are two Trustees who are married – Neil and Kath Brent. Neil Brent is also a Trustee of Bees Abroad.

Management responsibilities

Overall Karen Binns undertook day-to-day management responsibilities, on a voluntary basis.

There are a number of volunteers who manage certain areas of operations – including administrative support, project management, communications and marketing, and finance.

Main risks

The trustees actively manage risks – which are review at trustee meetings.

The current risks that the trustees have identified as most significant are listed below:

• People – Over reliance on a few key people/volunteers in the UK. Trustees are actively working on a plan to bring successors on board with the necessary skills to ensure the continuity of the charity’s activities.

• Partners - Over-reliance on key management personnel within our partner organisation in Sierra Leone – PAD-SL (People's Agenda for Development) and variable capacity of villages to manage projects locally. Working with PAD, Trustees are supporting the CEO of PAD to strengthen the senior team at PAD, encourage greater delegation, develop the skills of the wider team as well as building capacity in the villages through training.

• Financial – Over reliance on a few key funders, exchange rate and inflation volatility. Trustees recognise they have no control of exchange rate and inflation but are taking proactive steps to widen the source of funding to underpin the charity’s financial security going forward.

• Creating Dependence – Trustees have a concern that the charity’s work creates a dependence in Sierra Leone on funds from the UK. We are actively taking steps to ensure that the economic activities we support such as farming and bees move towards self-sustainability once the model of operation has been proven.

• Environmental - Climate change poses a threat to the viability of wells and also the farming activities. Rory’s Wells farming methods are specifically designed to be sustainable, reduce environmental damage and be resilient to climate change. Where possible the Charity is focussing its efforts on the deeper wells and bore holes which are able to remain in service all year round.

10

Rory's Well Annual Report & Accounts 31 October 2025

Trustees' Responsibilities

Charity 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 charity and of the financial activities of the charity for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

The independent examiner, Keith Du-Rose has expressed his willingness to continue in office and a proposal for his re-appointment will be made at the Annual General Meeting.

On behalf of the trustees:

Signature:

Date:

Karen Binns, Chair of Trustees

Rory's Well Annual Report & Accounts 31 October 2025 Independent examiner's report to the trustees of Rory's Well L report to the twstees on my examinatlon of the financial ststements of Rory's Well {the Charftyl for the year ended 31 October 2025. Responsibilities and basis of report As the trustees of the Charlty* ytsu are responslble for the prepat7tSon of the accounts in accordance wlth the requirements of the Charitie5 Act 20111tt)e Art). I report In respert of my exarnination of the Charity's accounts carrled out under 5ecUon L45 of the Act and In canylng out my examination I have followed all the applicable Dlrecuons glven by the Chartty Commission under section 14515llbl of the Art. Independent examiner's statement I have completed my examination. I conflrni that no matrrSal matters have come to my attentlon In connertion wlth the examination givin9 me cause to belleve that in any mateflal respert.. l. Accountlng records were not kept In respect of the Cha￿ty as required by sertion 130 of the Act, or 2. The accounts do not accord wlth those ￿e0rd$- or 3. The accounts do not comply wlth the applicable requlrements concerning the ftjrm and content of accounts set out In the Charitles (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts give a 'true and falr vlew, which is not a matter considered as part of an Independent examination. I have no concerns aTid have come across no other matters in connethon wlth the examinatloTh to whlch attentlon should be drawn in this report In order to enable a proper understanding of the accounts to be reached. Signature.. Date= S/y/ KeAth Du-Rose 42 Longs VAew, Chaffjeld, Glos. GL12 8HZ 12

Rory’s Well Annual Report & Accounts 31 October 2025

Rory’s Well - Statement of financial activities (SOFA) for the year ended 31 October 2025

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13

Rory's Well Annual Report & Accounts 31 October 2025 Rory's Well Balance sheet as of 31 October 2025 2025 2024 Current as*$ Debtors Cash at bank and in hand io li 1,655 45,806 47,461 4,353 57,531 61,884 Creditors: Amounts falling due within one year 12 16341 Net current assets 47,401 61,250 Net assets The funds ofthe ¢harlty: Restrlcted funds 13 17,453 26,691 Unrestrlcted funds Unrestricted income funds 13 34,559 Totsl ¢harlty fvnds All income and expenditure is derived from continuing activities. The charity has no recognised gains or losses for the year other than the results above. The Dotes on pages 15 to 19 form an integral part of these finantlal statements. Approved by the trustees and signed on their behalf by- Karen Binns Chairman of Trustees Neil Brent Trustee/Teasurer Date: Date.. 14

Rory’s Well Annual Report & Accounts 31 October 2025

Rory’s Well - Notes to the Financial Statement for the year ended 31 October 2025

1. General information

Rory's Well is a charity, established as a Charitable Incorporated Organisation on 22nd February 2016. The address of the registered office is provided in the Charity information section on page 3. Details of the charity's operations are provided in the Report of the Trustees.

2. Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared on a going concern basis under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - Charities SORP (FRS 102) and the Charities Act 2011. The accounts include the results of the charity's operations which are described in the Trustees' Report, all of which are continuing

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Further details of each fund are disclosed in notes 12 and 13.

Income

Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, it is more likely than not that the trustees will receive the resources and the amount can be measured with sufficient reliability. Gifts and services in kind are included at their estimated open market valuation.

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Expenditure

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to the expenditure and the amount of the obligation can be measured with reasonable certainty. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Costs of raising funds are the costs associated with attracting voluntary income.

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

15

Rory’s Well Annual Report & Accounts 31 October 2025

Rory’s Well - Notes to the Financial Statement for the year ended 31 October 2025

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16

Rory’s Well Annual Report & Accounts 31 October 2025

Rory’s Well - Notes to the Financial Statement for the year ended 31 October 2025

6. Charitable activities

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1230. 1230. 7879 787:
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7. Trading activities

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8. Support costs

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17

Rory’s Well Annual Report & Accounts 31 October 2025

Rory’s Well - Notes to the Financial Statement for the year ended 31 October 2025

9. Employees’ renumeration

No trustees received any remuneration or expenses during the year.

There were no paid members of staff during this year.

As at the end of October 2025, in addition to the Trustees, there were 5 regular volunteers, (October 2024: 5) collectively working an average of 15 hours each week.

10. Debtors

10. Debtors
56'$)
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11. Cash at Bank and in hand

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12. Creditors: Amounts falling due within one year

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18

Rory’s Well Annual Report & Accounts 31 October 2025

Rory’s Well - Notes to the Financial Statement for the year ended 31 October 2025

13. Analysis of funds

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3!4!!4"5 :;(+-:7;( ;=>;$.;. ?:%$(,;:( A!4!34"B
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14. Net assets by funds

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15. Related party transactions

Donations totalling £13,975 (2024 : £11,711) were made by 5 of the trustees during the year.

19

Clean Water . Sustainable Farming . Livelihood . Training & Education . Bee Framing . Carbon Life Balancing Details and impact of our programme in over 50 villages in South East Sierra Leone can be found on: www.roryswell.org

For more information about Rory’s Well visit: www.roryswell.org or contact Karen Binns on: 07970 549443 email: roryswell@icloud.com 3 Rory’s Well is a Registered Charity no:1165664