Company registratlon nUmr. 10166996 Charity reglstrntlon numbor: 1174610 THINK EQUAL (A company Ilmlted by guarantse and roglstered charlty UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
THINK EQUAL IA ¢ompany limitfjd by guarantw and r8gi$1gred tharfty) coKrEKrs Rofernncg and admlnl8tr•tlYe dgts118 of th• Cmrlty. Its TnMts•• and ad¥l•or• Tru8tO08' rnport Ind8p•nd¥nt oxamln•rf8 18POrt Stat8m•nt olflnan¢I actlvHI 10 Balan¢• •h••t 12 Statgmont of ca•h flo 13 Not•8 to tho Ilnanclal statwno 14-28
THINK EQUAL (A ¢¢mpany limltsd by gran1 and r8glstsrnd tharity) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHAK'T" FOR THE YEAR ENDED 31 MAY 2022 Truste Ms Lesiee Uth¥tn. Founder and ExetsJti¥e Chalr hAr Jacob Bier Mr K 8echir Mrs B Ia¢S Msc Hard rPB Mr S Harvey Ms E Gd41z Company r•giiter•d nurnr 101e6996 Charlty r•gl•tsr•d nwib•r 1174610 R•gl8t•r•d offl 74 Holland Park Lond W11 3SL Company s•crotsry Lesle¢ U$frn Chl•loXOCUtlv• ¢)fflc•r Giulia D'AM Ind•pond•nt Examln•r MHA Maclntyre Hudson Chartered Accountants 2 London Wall Place London EC2Y SAU Page 1
THINK EQUAL (A company Ilmlted by gwant•e) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MAY 2022 The Tntstees present ther rewt and financial slatements of Charlty for the year ended 31 May 2022. The financial statements have been prepared in accordance Acuunb"no and Reporting by Charities. Statement of Recommended Practice applb lo ehanties preparing their accounts in accordance with the Financi31 Roporting Standard applicable in the UK and Rwlb1 of Irdand IFRS 1021- (Chanties SORP IFRS 1021} and tha Companies Act 2006. Structuro, Gov•rnance and lknnagom•nt THINK EQUAL was founded in May 2016 fegk8tering as a npany by guarantee in England 8rd Wales, number 10166996. We are also registered with the Charity CommiOn number 1174610 since the 12th September 2017. We are govemed by ticleS of Assoaab"on passed on 6th May 2016 and updated by Special r8$olution on 1st August 2017. The organisallon 18 govemwj by 8oard of Tnth follIng a governa revoow bn 2017118. The Trustees 8re also ils Directors for the purposes of Company Low The Board tak•s it¥ obligation. to en$uro ?11 Trustees are aware of their dutlos and r•8Fth3ibilibes. 8oriou$ty and the ExertiVe Chair ensures that the8e are disGussed and understood by the Trustees as pwt ofwular Boanl meetirys. Trustees are recrutted thrtyjgh yrsonal recommendation or by open recruthenl, considering rel¢vanl 8kills an¢J th•ir knowledge oflinteresl in the areas needed by the organisalion. Nv4V Trustees are briefed Lx)mprehensively before joining. Induding indNKlual meeb.ngs the Chair and Senior Management. sharing of key documents such as the Articles of Assooation and further drKumentab"on on appoinlmenl such as rnt Board Meeting minut•$. New Trustees are apFointed by Board Resdution. The Tru81tt8 meet fomialty evwy CFI8 rf months further ad hoc meetings thrcrfjghout the year as required. The Tru$t¥g8 Set th• $trtegK directN)n ol Thlnk Equal and monrtLY and review operational and financial perfornianrR. The day-ltrday running ol the organisation i8 debgaled to the Senlor management slaff, led by the Chief ExecutNe Officer ObjoGtivo3 Jnd Actlvttl The objects ollhe Chanty as per rts Articles ofASSoaab. or•. fty tho Wb1 bgn•fft.'- 11 the promtr'on of equalty and dwer¥ty by.. •. the tlimintion of di8crfmlnaOon on th• ground8 of race, ynder. di8abllty. ¥exual oAenl•tlon, or rellglon. b. advano'ng the gjucatson of chlldren and raL%iTrJ aKrene8s In equalty and dNersity Parti¢ularfy, blrt not limrted lo. among children. ¢. promoting a¢tiwtse8 for children to fwlor under81anding betr1 people from dNerse backgrounds. conclucting or commissioning resewch equalty aNJ di¥•rsrty issues in educional settings and pulshir0 the re8uR8. umivating a sentiment in ¢hildren and in educational selyngs in favour of equ81ty and er$Ity. 21 to promote human rfghts las Bet out in the Universal Declaration of Human Rights and subsequent Unll•d Nations wnvenlion$ and declarations) throughout the va?rld by all or any ofthe follo*ing means.. a. educating the public land in particular, thildren) atrxjut human rwjhts. b. promoting public supportfor humart rtghts., c. motIng respect for Mtman rNJhts ammg indivvjuah. Page 2
THINK EQUAL IA company limited by 9Ants8 TRUSTEES. REPORT {CONTIMUEDI FOR THE YEAR ENDED 31 MAY 2022 THINK EQUAL calls for a system change wi edLKation to end the discriminattyy mind 8el and ¢y¢le of violence a¢ross ourworkl. We believe there is o mi¥3ing subj.ect in school curricula. We want governments lo aL1opt our curriculum and it$ tangible tools mediating all aspects of exFrIenal Slxial arKI ernob'onal leaming. We ask them lo mandate this as a new subj.ect onto the compulsory cuMluM of 8cP)ol$ from the earfiest years vthen, according to neuroscientists. the ¢hilrt$ atirtudes and behavi¢ys afy modthablg. Chjr vision is a safe, fr•e, and ffjual vL¥ld. Thlnk Equal l• • global not-for-profft charity. mission L% to teach all children lo love and respect other8. free of dis¢riminats"on. and leach them that all humans are equol gnd equally to be valued. We want lo ollmlnat• dl•crlmlnation. dl•mprf and vlol•n¢? from the xt gontrrnllon, and brlno •MthY. lovlng rlatlon8hlpry. pro4oclal b•h•vlourn •nd •tttiudo8 In th•lr pla. h8ve ¢ffjated the Y>rld'• flrnt holl•tlc compr•h•nslv• Soclal and Emotlonal L6arn5ng ISELI programm• In 3 age-appropri8te levd$ for year-Olds, wnpnsirg best Pfa¢ti¢e, quahty edu¢alion, and tangible tools for inGlusion, equalQ4 and wellbelng. It isa Goncrnts, •vldfrnco4M¥ed. fTee. and ¥calablo progrnmmo lch delivers a wweffvl foundali¢Jn In SEL, ccpCon5tTting prosooal neuropathways in the deVelon9 brans ol earty years chilaren. to ensure pwtive lile-k)r¥J OLrto)mes. Achl•v•m•nts and pwlomi•nc• We work ¥t EduGalion Ministries and chanyi0Tr4 wrylhin govemmènt to ask them to tsk&up our programme from the ea$1 years In thelr clntrs. Vrfe have negotiated and svJned menralUM'S of Underst8nding wth.. projecis bthn May 2(Y214rwJ May 2022.. In$ltuto mUn1paI da Mui•res Rwas, Monterrey roll-wt Atentamenle, implementing pAthwfor Nuevo Loon tyth fimds from FEMSA CARE, impltrmenting partner for Pakn"stsn Updaled Memorandum of Undwstanding slgned ith Mastwmbane Dovelopment organatIOn, South Africa for year 2 United Way, Implemenling aTha fvnding Trin and Tobago Or¥Joing pro1t$ from last reporung perlod.. Eastem ca MInty of Educ8triw), ScMJth Afi Comunidad Autonoma de M•Jrid, Spawi Fundacion Goma e Spuma. Spain Ensen8 por Mexico. Montetrey w4ect Masibumbane Development OrgantIon. South ASrica uNIcEF•0ch for Mexico to implementthe proje¢t in the State of ChihuahJa Vvorld Vlsion Mexico to impl•ment kne prcgram In the stsie of Guerrero E¥cuela Nueva Foundab"on in Colomlxa to implement a lo1 program funded by Inter- Ameri¢an Development Bank Pirgmal Fcwjndabon. India Leaming Curve. India Bounce FThard. LK EasyPeasy lIn. TUnia Page 3
TH114K EQUAL IA company Ilmlted by grantee} TRUSTEES, REPORT {CONTIIIUEDI FOR THE YEAR ENDED 31 IAAY 2022 Programmtt: Pilots and Rolllxts in dotsil Co1(bIl The project was ¥U¢$fullY cornted by the end of 2021. The 30 WEeks of the proJramme were completed by the majorty of Eamy Chikyhocl Development unrts through a hybn"d model of impEemenlation which includod biakty calls and 2417 access to a chatbot in WhatsApp. where tjoth teachers and parents could download support audio and visu81 files. ask queStS and send evidence of the •diVe8 completed. A final focus group look place in December and a quaJrt81we report was compiled by Fundac4On Escuela Nueva, the implèmgnb.ng partner, ¢8legoriting the feedback was abundant and very FKY&.Ve. Thi¥ report a180 Included results from a final ¥urvey that tsachers ans%%tred in %thi¢h they highlighted that the pyogramme had be¥n a p)6ltive experience for their own leaching ski118 and for the Social anLf Emotsjnal Leaming of children. An independent R8ndgmized Control Trial evaluation vrds also conducted by Inn¢)vatsons for Poverty Action which had a baseline and an endlinè. Data was gathered by mid Decemter 2021 and was analyzed by Innovaln5 for Povety kb'on and the Inler8merican Development B8nk. A preSenL"on the re$utts was shargd in April 2022. Various $tat581icalty ignificanl flndlngs indicat hw the programme ha8 a posrtw effect in ct4ldr•n. t•a¢hers, and care9Tvers. The Covid re5pon¥e prO1t wrth Leamlng Curve In th? Stste of Telangana whith stsrted in May 2021 wa8 successfijlty completed, reaching 141 anganwadis. 211)0 sludenl$, and 2000 p8renl8. The matertals were prtnled In October 2021 8n¢J in that sam& month the project was offiu.ally launch¥<l. As a re8uIt of the project Implomentslion8 these are some oflhe most relevant8Chvements'. Positive feedback was recewed from parents and teach¢r$ on qualrty and contènt of the material. h6gh e[S olengagemenl from local community leaders and governmerrt 04alS during the dlstrlbuiion, data cyjllectlon and assemments vMr• done for all the enrollgd parents. Funds to reach 1,100 anganwddis in Ralasthan ere recelved In Ocloter 2021. The project stsrted In Aprll 2022 with the goal of beneffting 44.000 thildren. Funds have also been useil to tran$l8ts and dub our online training pl#lform into Hindi lo enable teachers wth intemgt connectsvty to access this. CulnY the project 18 ongoing, and plan8 4r6 in place for the a¢tyvib•s of printing. delNery. and training in the upcomfftg months of 2022. M•xlco: Chihuahu - For the school year 012021-2022 the impswrtati¢ of Think EqLsal vrds atypical due to the pandemlc. Adaptations h8d to be made to the program to be implemented both synchronously and asyn¢hronou$ly by En$efi por México IEPM), the iMementing partnor. Neverthele, Ensefla por Méxieo delivered a comprehensive training for 220 partKipants 1150 teachers arml 70 supemsors and ped8gogical advisor81 for the sch1 year 2021-2022. The training was gNen in 6 sessn$ of hours each, through zoom. Two main trainers atways facilrtating each session, role-playing, modelin9 of the program aGtNilies was included, and speaal gLtrests {teachers that had previou8ty and ¢SsIUlty implemented the program in the last cohort} Yre invited. The main achVements trom implemenlation V•re". our alN'lity to adapt the program to distance modalty, our training of teathers using dwjrtal methods, in K1motiOns1 and facslitatM)n skills. Great règults in $oei•lomotional skills were 8e8n not onbj in ¢hibdren. but also in familitrs and teachers. Addrtionally, the Implementation of thi¥ progw3m encovraged parti&"pth'ng Jthools to establish communication wth the students during the pandemic. - The project Word VlsK)n to reach 400 schods has been p8U3ed due to COVID up untsl May 2022. However, have implemented mu. pandemic adapta8.. knApp groups created wrth teachers by municipalty, zoom sessions have been provided forfamilies possible. teachers have recorded instructions and shared those vhth families. arKI virtual teathers, meetings to share experiences and adaptations were facilitated. In December 2021. an a¢kn"sory Sess was hekl be Think Equal and Wodd Vision providing sugge$bon$ to strengthen the remote 1mp1em•ntat of the program. Lat8r on, in February 2022. Wodd Vision info¥m¢d Ihot in agr¢¢mcnt with the donor they decided to pauae the prole(* implementatson due to the situation wth the relum to in-pèrson Classes. has not progresslng as exp&aed. They pkn on rfrlaunchlng the project by the start of the new school year in Augus12022. Pag&4
THINK EQUAL IA company limited by guarants•} TRUSTEES, REPORT ICONTINUEOI FOR THE YEAR ENDED 31 MAY 2022 Coahuila- A Memorandum of UrKlerstsnding WTth Atentsrrwte, the implem¥nbng partner funded by FEMSA. wa$ signed in March 2022. Plans a in pe for the implementsts.on to start by the beginning of the next school year In ALFgusl 2022. South Afrlc• rn . After a Memorandum of Understanding wa$ $oned tti the impl•menb"ng partner Masibumba Development Organization and the program offiualty kn.cked off in Spring 2021 for the first year of implementslion, amidst Covid, V• managed to prwde Thk Equal materials10 1.002 Grade R tea¢hers across the Eastern Cape. Through a hybrid model of online an(1 in-person training, our bGal implementathin partner managed lo orlent and train 654 Grade R teachers u$ hundreds of Head of Departffnts and all 12 Grade R Subject Advisers. The remaining 348 teachers rgceNed Think Equal materials but re unable lo be trained in 2021 were added into the 2022 cohort of l•ad)rs to bg trainod. Add081 fund5 from the E¢hidna'8 grant were di8bur8ed in J8nuary 2022 and printing plans ond a¢bon8 Started. A joint applicabon wth Ma3ibumb8ne Development OrganvLation for DGMT fiJnd8 to cover implementats.on costs for 2022 was xnl, even trKugh the grant vM8 appmved, the fvnds were not received unb'l recenty in May 2022. Nevertheless, pftning actions have been in plarE and the new cohort of 2022 leacheT3 wll prompdy start the IMpmentaon of the proiecl by the second semester cf the year. Bwks and reVr have been winled, shipped, and received. Training ha8 beèn Completed and now teaching of the Think Equ81 programme 1$ in progress. 154 Earty Childhood Development practilN?nèrs from 71 Early childho Developm6nt centers have been reached. Nt8tsise. cJr implemenJng pather, has also been developing monitoring and support actions induding.. capaw building IrkShopS, check-in support phone call$, on-site $upport and monitoring visits, and data capture analysi$ of chlld a8se$sments and Early Childho¢xl Development practi1er 80lf-refieth.on tool. We have SubMed fvrther proposa15 to Fitsl for Women lo reach full saluralion of Diep8loot over Ihe nexl year. United Klngdom 100 schools have stsrted ImF4emerrtatlon ol Think Equal our impmentlng partner 018 Educallon. A$ schools Sign up lor Think Equal they receive their Sthool packs arKI are invited to joln the Think Equal online training plafform. This project started in Ihe school year 2021-2022. and they're Mnts'nuing to usè the materta18 for the followng year 01t EducalKn facilitated the mnrtoring and following up teachers for the 2021-2022 $¢hool y•ars, and will be taking on these effryts for th• 2022-2023 school yeor. 56 additional 8choo18 in Tower Hamlets have receNed malerials and completed online training 1n the school year 2021 and 2022, as a conlSnuou8 expansion of our 2020-2021 T0r Hamlèts projeu. In addition to the 01ectS being impMented in the UK, we also ran our first publlc e4mpaign. In light of the recent high profib media ¢overage on vionCe againsl V•Dmen in the the team decided that the time was now to launch a MPaign lo raise awarene88 of Think Equal as a solulion to vknee, raa3m. discrFmination and the m•ntal alth crisi8. Th¢ tagline of this ¢ampaign VAS. 'Slop Talking and Start Actlng. Stop Reartlng and Start FventIng, sian early and eThJ our negw of tne UK'8 youngest ciiizen$l- To launch this campaign, we have WTole a letter to the UK Govemmnl emphasizing the importance of Earty Yeafs Education in preventing violence. dis¢nmination and racism as well as highlighting that Think EqLtaJ 1$ availabla. 8wd8nc9-basgd, eosl-efficienl and scalable. We anticipate that a result of the UK campaign wll be irKreased awareness of the Think Equal programme and thus, more schools, teachers and parents wll see the value of Think Equal dIng to more h0O1$ participallng. Page S
THINK EQUAL IA company Ilmlted by guaranteel TRUSTEES'REPORT ICONTINUEDI FOR THE YEAR ENDED 31 IAAY 2022 Stratsgic progro88 In othwarèa: 8fldggspan Strnteglc clarlty Cours• As part of Think Equ81'3 efforts to keep strengthening the strategic wsion and profess*)nal skdls of th• l•am, we successfijlty participated and compted the Bridgespan course for Athieving strategic clarity bew February and May 2022. Seven team members re selected to paits'pate on this leaming journey. tssk5 were completod and both weekly and b1WeY Milestone meeling$ hekl. A5 a result oftre course a new and updated Theory of Ghange was produced". Think Equal Theory of Change - OUR SECRET&IUCE- WHOWE WORK WITH OUR WORK INTENDED IMPACT ULTlIrtATÉ SOCIAL GOAL ¥lth no Page 6
THINK EQUAL IA company limited by rantee) TRUSTEES'REPORT {CONTINUED) FOR THE YEAR ENDED 31 PAAY 2022 Digltsl Modia Achi•vom•nts (May 2021- 2022) LMS- Platfom.. We ad¢Jed a bonus rnodu kn the EliSh training {N8rr8tfve in action) We added the Level l trainirwJ video and assessment of M7S2 to our EnglL8h trainiTrJ (Healthy Mlnd$'. The Kindn•ss Curriculum) Wè created an English trainiTh3 for guests 80 that wr tsacher repoits do not comprehend gu•st U8er8 whose objective Isnl complthng the training We created a Manu and tutorial wdeos in Engll8h and Spantyh to te our users how lo navrgate our plattom We creatèd template emails to invtte rw users to10 ourOnlin8 PtfOrM (for te8chors and gu8yt8) We had 638 new registered user8. From these users.. 15 completed Ouf Spanwh trw.ning 21 completed our18iXhosa training 171 completed our English training Please, note that not all new users tsathws.. Some V•ere lust guests Interested in exploring our online training platform, canl be filtered from these reFQrts. but be moving forward with our implementstn of the 'guest' oplion We redirect our thinkequalu1a.9 to thinkequal.¢)ro and elinin8ted our 8amants•du¢•don.org and sanwodi.org w*b$ile$. so now our eont•nt and reach are centralised and condensed in thi$ main domain. To do this, we had lo review1 content on all websites and transfer it lo our current main domain We updated ourwebsite content Ipalrons. partnèrs, team, Iruglees, among otherg18nd opts'mised our UIILIX experience, consideftng the suggestions recwved after a website audit was conducted in January 2022 We Process 24 EQll¢l¢)u¥ sales, lotaliNJ 1.200 GBP We pYoce83ed 39 dOn8n$, totslling 16.340 GBP We sent nine newsletters lo promote yeaty mpaignS. We successfvlty dose(l our Ralasthan Campaign and rai8&J 53.670 GBP oul ofour so.0 GBP goal to reach 25,000 children in India Page 7
THINK EQUAL
IA company Ilmlted by guarJnts8}
TRUSTEES'REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MAY 2022
Financial Revrew
For the year ended 31 May 2022, th• Charity e1Ved unr8¥trict8d ineomo of £347,34612021.. £175,777) and
restricted in¢ome of £288,55712021". £348.178). UnreStrted expendrture totaled £245.71812021". £176,839> and
restricted expendrture was £294,51512021." £335.0551. Total funds carried forward for the Charity on 31 May
2022 were unstrICted reserves £120.80412021.. È19,176} and restrtted resetves of£68,19912021.. £74,157).
Ro••r¥•• Pollcy
The Trustees aim to maintain a level of reserves thal will protect the Charty against any dramab'c fall in
Unrestrted income or unexpected rise In expenditure. A ReseNe8 Poltcy has been developed 8 commitment
to build up tjnrestricted reserves suffic¢ent to cover six months of opèratin9 eosl$ over the next financial year.
Tru$lee$ are aware that rt will take a coupbe of years to reach thew lev•b l)ul are budg•b"ng an Incremental
amount every year.
R•mun•r•tion of K•y IAan•g•m•nt P•rnonn•l
Think Equal Fln8nce & Resource commrttee 8818 the pay Structure of the key management p•rsonnl and
recommends to the Board ofTNslees. l)ecisions made by the finance committee requlre ratthtIon by the Board.
The Finance & Resources commtitee Conshlers fdlowng context lo provlde proposal to the board for de¢15ion
maklng"
. The organi8ats'on's currentfinanoal
. Any exigling or emerging risks that may impact on the organis8tr•n'$ financial $tabilty
Companng the competiti'v&neu of THINK EQUAL sa&ry banding agwnt credible independent mark81
benchmarks
• Public and Third Sector pay awards a1 any relgted swwit
. Individual and T•8m p•rfomwr
. Pasl.performance t¢rhMar8
• The slgnlflcance of ernoYeeS in dd1Veng THINK EQUAL'9 charltabsè vknion and F
The Committee wll consider the rellectKJn$ and fttommendalKbn5 of the Executs'va Chgir. durin9 tho fomi81
ppraisal of the key management personnel against agreed obj•ctivas lo d&tenYwn• tho remuneration package.
Discussion wll take place wrthin the meetin9 and any conclusions drawn will be Psented to the full Board for
rallficalion and wlll be mlnuie
THINK EQUAL IA company limited by guaranl•o1 TRUSTEES'REPORT {coPINUED) FOR THEYEAR ENDEO 31 MAY2022 Fundrdhlng The Charity does not txrtsource anyfundraising tsVit to professional fundraigerg ore£mm8rcial parbcipalor¥. Future Plan We are contsnuing our pl8n to our prc3ramn in cwfc¥%S countries. We have conbnued lo adapt our to ongage parents in the homes more and more, fva¢hing them through the teachers in the classrwms. We have continued developing novel ways of reaching. and engaging children antj ¢ar•grvers through online resources such as 8 serieg of 40 episodes lof 20 mknutes durallon eth) of Irrfe oction animati edut¥inm&nt, aml the animauons of our narrattve pthre books. We have substsntlalty Strengthened the ec*e staff team and progr8mme team, and have focused on raising unreslricled funding lo build free rvaerves to cow 6 months of staff salaries and fees to provide financ¢al slabilty to the organisation and to prot•cl our staff from sudden and unexpected eCx)nOm pre8sure8. We have been suGceJsful in raoing unrestre fvNJing in the year2022-2023. We have athieved a system change In rea¢hlng fvll SaTatIOn for every chlld of4-5 years okj $$ 3 counth'es {North Macedonia, Belize, Gambi81 where the education ministy has now included our programme as part of the National Curriculum. We h8v# fvrther re$¢hfjd seale in Vh16 citiès. provir)ce$, or reg•)n$. In 202>2024 we will conlw)ue to focus on our target countries,. England. Scouand, Wales. Irwjia. Pakistan, Colombia, Mexico. 8eliz8, Au8tralia, Zambla, Malawi, South Africa, Tunisia, North Macedonia, Ukraine, Spain, United Stsle8 of America. Canada We have completed a TV serfes to launch in Botswana, a$ as 3 TV 8erK•8 lo launch in Ukraine and will next move onto a series for India. We have developed the matenal for refugee and IDP contexts and emergencie9 W& wlll condnue lo monrtor and review our strategy lo reach as many chlldren a8 PO881ble lo ensurts they recewe the mi8sing subj1 developed by Think Equal, whi¢h ¢all So¢ial and Emotional Learning for wellbeing and sodal lustre•. Thh report ha8 be•n w•p•red in ¥ccord¥n¢• with th• $m•ll mpAnIeS. pTovision$ of the Companies Act 2008. Th18 rert W88 approved by the Board on.: 7/..Z/.1.A..........-.ar 81gned on ts behalf by.. M$ La81•• U<hAn Page 9
THINK EQUAL (A company Ilmlted by guarnntso and registsrgd charlty) INDEPENDENT EXAMINERE REPORT FOR THE YEAR ENDED 31 MAY 2022 nd•ndnt 8xamlnef$ rgporttotho Tnmtms ofThlnk Equal fth• Chaty) I report to the charity Trustees on my ex8mlnation of the o¢¢thJnts of the Charity for the year endèd 31 May 2022. R•8pon¥lbilitlè• and b•Ji of r•port As the Trustees of the Charlty land rts dlre(aors for the puw$ of ciynpany law) you are respon8lbl• for th& preparnts'on of the accounts in accordanc8 with th• rwuir•mwts of ihe Companies Act 2£18 {Ih8 2008 A¢t). Having Satlsfisd mysell that the a¢Munts of the Chkn are not required to be audtted under Part 16 of the 201JS Act and a eli9ible for independent examinatson. I rep¢)rt in resp8Ct of my ¥xaminab'on of the Charsty's accoun18 carried out under $e¢tton 145 of the Chariliu Act 2011 Cthe 2011 ACV). In cafrying out my èxaminats'on I have followed the Dire¢tion$ glven by the Ch¥rity commiss urHleT 8eclon 145{51(bl of th• 2011 Act. Indapgndgnt gx•mlngrf• ¥l•l•ment Since the Charty's gross incoTh •xce8ded È250,000 your examiner musl be a membèr of a body li$tgd In section 145 ol the 2011 Act. I confimi that l am quatsfied to undertake the exawnination because l am a member of the In8titute ol Chartered Accwitants In Ewband and Vl#la8, Y+hk n one of the Ilsted bodlos. I have completed my examination. I confirm that no mattors hava com• to my attention In ¢onne¢tion with the examination 9ivin9 me u4• to beliove in any m•t•rial r•Jp•¢l'. accounting records tre not kept in Spect of the Charity as Tequwed by Seeon 386 of the 2006 Act.. or th• accounts do not accord with those records. or the 8c¢ounts do not comply the acc¢xJnts"ng requirements of section 398 of the 2006 Act other than any requirement that the accounts gwe a Irue and fairf view is not a matter considered as part ol an independent examinalM)n" or the accounts have not been prepared In acwdance the metrtods and princip of the Statement of Recommended Practice for accounting and pOrt1'n9 by drrth8$ applicable to charib'es preparing their accounts in accordarKe wrth the Finawal Reporting standa applicable in the UK and Republic of Ir•l8nd IFRS 1021 I havè no eone•ms and havè Camè &ros8 no oth•r mattern in connectr'on wth the examinatson to which attention should be drawn in this repJrt in orderto en8Tre 8 proper uThJerstanding ofthe accounts to be r¢8¢hed Signed.. Dated.. 24102r2023 Stuart McKay Bsc FCA MHA Ma¢lfttyre Hudsm, 6th Fby, 2 Lmdon Wall H8¢e. LOn. EC2Y SAU Page10
THINK EQUAL {A company limlted by guarantee and rgglstered Crity) 8TATEMENT OF FINANCIALACTMTIES (INCORPORATING INCOthIE AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MAY 2022 Totsl fund¥ 2022 Total funds 2021 nd8 2022 2022 In¢om•fr¢m: Donations and grants Chorilale •ctNrt 209.955 137.391 224.656 63,901 434611 201,292 417,947 106,008 Total In¢c4)1• 347,346 288.667 835.903 523,955 Expgndlluro on: Co818 of raising funds Chaiit*o actNit 26,374 485,520 240,210 294.515 6¥725 Total •xp•ndlturn 244718 294,515 540.233 511,894 Ngt movgmont In fvnd¥ 101,628 15,9581 95,670 12.061 Reconclllatlon ol fund#: Total funds brought fornyard Net movement In fvnds 19.176 101,628 74.167 {5.958) 93,33J 95,670 81,272 72,061 Totsl fund• ¢arrl•d fonh•rd 120J>4 68.199 189.003 93,333 The Statement ofllnandal acbvrfles InclLths all gains aThJ k)8ses recc#JnMd in the year. All InMe and •xpw)ditur• d•rlv• from ¢onYnulry a¢Uvlll••. The notes on pages 14 to 26 fomi wt ofthese financial Statern. Page11
REGISTERED NUMBER: 10166996 BALANCE SHEET ASAT 31 MAY 2022 2022 2021 Curr•nt amets Dèbtors Cash at bank and in harKI 10 26,876 193, 182 395.555 442.01S 220.058 Cr8dltor8'. amountsfalllng due within on• year 11 1253,012) (126,725) N•t¢ury•nt 4M•t• 189,003 93,333 Total n•t u••ts 189.003 93,333 Charltyfund• Restricted fund8 Unrè8trietsd frjn 12 12 68,199 120A04 74,157 19.176 Totsl fund• 189,003 93,333 The Charlty was entitled to exernF0n from audlt under 8ecthJn 477 ofthe Companies Act 20C6. The Mernrs have It reqred the wpany lo oblakn on audlt for the year In queslon In 8ccord8nce with section 476 of Compan$ A¢t 20C6. The Trustees acknO%edge thwr resp(Msits'libes for comptying wilh the raquiremtrrts ofthe Act wih reswct to a¢¢ounting record8 8fKI pffjp•r¥tiM of fin¥wl Btstwntrrts. The financial statements have ten prepared in ac0)rdan vthh the provlsN)ns applicable to entt3 subject to the small companies regime. The fin8nci81 ststements were appro¥ed 8ThJ authorised fr18gue by tho TNstees Signed on theirbeh81f by.. Ms Le$lw Uthwln Executive Chair Date".z- /L/ZI The notes on pages 14 to 26 fom part ofthese finanoal statem. Page 12
THINK EQUAL IA company Ilmltod by guarante8and r8glst•rnd ¢harityl STATEM OF CASH FLOWS FOR THE YEAR ENDEO 31 IAAY 2022 2022 2021 Cash flows from oporating activiti0• Nel cash used in 0rating autvibes 14 202 J73 80,561 Chango In caih and calh •qulvalwrts In th• y C8sh and c8sh equivolen¢$ thg tryinning of the yoar 202,373 80,$61 193.182 112.621 C#h and c••h •qulval•nts •tth• •fbd of tho y•ar 15 395.555 193. 182 The notes on pages 14 to 26 fomi part of Itthe finorKao1 slatem Page 13
THINK EQUAL IA ¢ompany INn•ted by guarantso and reglster•d ¢hartty} NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAAY 2022 Genernl Info110 Think Equal i¥ a cc4npany limited by guarnntee arKI is registered vAth the Charty Commission Icharity Rogistered Number 11746101 and Registrar of Companley (Company Registration Number 101669961 in England and wa8. In the event of the Chartty bein9 wound up. the liabllity in reSpt of the guarantee is limrted to £1 per member of the Chanty. The address of the registerwj Off 18 given In the Charfty infomation on page 1 of these financial statements. The nature of the Charfty's op•r8tth8 and prin¢xpal athb88 arn to promote equalty and diversty and to promote human rights. Accounilng pollcl•• 11 B••lB of pvepllr•llon ol11n•I•l st•tsm•nts The financ1 statemerrts have tjeen prepared in rdance with the Charitie8 SORP IFRS 1021- Accounllng and Reporting by Charrt8.' Statement of Recommended Practice applicable lo charities preparing their accounts in accordance V•ith the FinarKral Reportt'ng Standard appilcabltr In the UK and Republic of Ireland {FRS 1021 and the Ccmnpnies Act 2006. Think Equal meets the definition of a pthlk benefft entity urFd•r FRS 102. A888ts and Ilablllti8$ afe initially recognised at hI$lGaI cost or tran8acUon value unle#s otherwise Slated in the relevant accounting policy. Th• finaneial 8tat•m•nts are prèpared • going coreM basig under th• hl8tsrfeal cost convention, modffied lo include certain items •1 fair value The ffinancial statèments zre prep¥r¢d in slerfing which 18 the functional wrenGy of Ihe Gharty ond are rounded to the nearest rnd. The gnificant accounting pdi¢ies apPld in the preparation of these financial slatemenl$ are $01 out below. These polilies have been consistenty applied lo all years pSented ue$S olhemse slated. 22 Golng concom The financial statements have been prepared on a going cOnM ba*$. The Trustees have nsidered relevant inforniation. including the annual budget. forecast fvture cash flows and the impact of any Subsequent events in maknng th8ir assessment Based on these assessments and having regard to the resour available lo the entty, the Trustees have conduded that there 1$ no materi81 urKertainty and that they continue to adopt the golng nrn bas in weparing the annual report atKI accounts. Page 14
THINK EQUAL {A company limltgd by gIrano and v¢gislered chailtyl NOTES TO THE FINANCIAL STATEIIJENTS FOR THE YEAR ENDED 31 PIAY 2022 Accounting polici Icontinwl) 2.3 In¢om• l incorm 18 recognis•d once the Chwrty ha8 entitS8ment to the ino)me, it 18 probable that the Income wll re¢eived ond the amourrt of income reCeab can m&a$ur•(I r•liably. Grants ar8 induded in the Statwn¢nt of Financkl fv£tivitie8 on a r81vable ba81$. Thè balance of in¢om• r•ceN•d $pe¢ffi¢ wrpw but not expended during thè wftod ts shown in the relevant nds on the Balance sheet. ere income is received In advance of entf(lement of receipl, rts recognrtion is deferred and induded in credrtors aB deferred inoime. enb'tlemenl occur8 before income is recewed, the income is acCnd. For donatlons to recognised the Charrty wll hav• b•n notffied of the amounts and the settlement date in wrn9. If there are condttions attached lo the donthon and th requ19 8 level of perf0mnCe before entrtlement can be otlained then income is defefred until those conditions are fjjlly met or the fuffilment of th¢)se condrtlons is wiitiin the control of the Charity and rt is probable that they be fulfiled. 2.4 Expfrndliuro Exp•ndY(ur• is r•cogni••d onc• there i• a al or con8lructi¥e obligo¢bn to tr•n•f•r 0¢0Mle benofft lo a third party. rt is probable that a transfer of econom benefits 111 be required in setuement and the amount of the obllgalon can be meagured rellabty. Expendthjre 18 classffied by actsvty. The cos1$ of each acllvty are made up of Ihe lotsl of direct ¢OSts and shared costs, Including support ¢0318 involved In undertaking each activity. Oirect costs attributable to a single activty are allocated diractly to that activity. Shared costs which contnbute to more Ihan one actNty and $upport wsts are not attrlbufae to * Single actsvrty are apportioned tho$¥ a¢lWI•8 on a ba818 ¢on8i$lent with the use of r•8our¢e8. Central staff costs are aNocaled on the bas1$ of me spent, and depreciation charge8 allocated on the pwuon of the asseys u8e. Expendlture on chantable actiwts.es is 1ftrred on directy undert'ng the octrwty"e8 which lurther the Ch8rfty'3 oblectfve8. a8 well a8 any as8oaated support c•sts. AJI •xynditur• i• inclusw ofin¢overabl• VAT. 2.5 Taxatlon The Ch8rity is conjidered to pass the tests set OLrt in Paragraph 1 Schedul• 6 of tho Financ8 Act 2010 #nd th•r•l4y• rt m••ts th• d0fth0ft ot ¥ eh¥ritable Company for UK ¢orporatton t•¥ purpose$. Accordingly, the Charity rs potentialty exempt from taxation in respect of income OT capital gains received wthin categories covered by Chapter 3 Part 11 of the Corporntion Tax Act 2010 or Section 256 of the Taxation of Chargeab* Gains Act 1992. to the extent thal such income or gains aro applied ex¢lusr¥ely to thantsble purpxes. 2.6 DebtorJ Trade and cther debtorn are fecognised at thè selttement amount 8fter any trade di8count offered. Prepaym8nts are valued at the amount wepaid net of any trade discourts due. Page15
THINK EQUAL {A company limltod by guaranteeand vfjglslered eharlty) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Accountlng pollcl•B IcontIn 2.7 Ca•h at b•nk and In hand Cash al bank and in hand indudes cash and Short-temi hwjhly IiqLMd invesknents wth a short malurlty of three months or less from the date of aCqUisrtn cf opening oflhe derx)srt or similar account. 18 Uabilitl•• U3.1111e9 are recogni8ed when there 18 an obliggkn at th8 Balance sheet date as a result of a pa81 event, il is probable that a transfer of economK btsfft ¥&ill be requlred In seltlemenl. and the amount of the settlement Can be estsmated reliabty. .1it1e9 Are recognised at the amount that th• Charty antiupat88 it 1¢ pay to setue Ihe debt ¢y the amount it has receNed a¥ advanced payments for the goods or seMCeS il musl Provhde. 19 Flnanclal In•lnMn•nts The Chaty holds only bastc ffflandal InStrUt$. Thè 17nanclal a$sets and Ilabllllles of the Charlty are as follows.. D•btors - Trad• d•btOf8 am bas financial Instruments and are debt Instrum•nts m•88ured at amortised cost as detailed in Note 10. Prepaymts are not financial instruments. Cash 81 bank - 18 clas8ffled as a bas1¢ finan¢lg1 Instrutrenl and 1$ measured at face value, as pros8nt8d on th• Bala Sh88t. Fin8n¢i81 li8biliti•8- Trad¢ critors, oth•r ¢r•ditor8 and x¢ruals are basic financial instruments. and are mgasured al amorti$ed $t a$ detsiled in Note 11. Taxayon and social security are not included in the financial instruments disclosure. Deferred Income 1$ not deemtrd to a financial liability. as the cash settlement has alrea(ly taken place and there 15 an Obligati to deliver services rather than cash or another financial in¥lrument. 2.10 P•n•lon¥ The Charity operate8 a defined contribution pen6ion eme and the penskln charge r¥preBents the amounts payable by Ihe Chanty to the fund In respect ofthe year. 2.11 Fund accountlng General funds are unrestricled furKls thich are available for use at the disuelion of th• Tru$l¥e$ in fiJrtheran¢e ol the general rt*jectives of the Charity and v#hth have not been designaled for ¢)ther PLsrposes. Restn"cted funds are lunds which are lo be used in accordance specffic restrictions imposed by doTh)rs or which have been raised by Ihe Charity for partlar purposes. The costs of raising and administering such fvnds are charged against the specIf furKI. The aim and use of each restricted fiJnd is sel oui in the notes to the financi statements. Page 16
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 IncoTh from donatlorA and grnnts Total fvnd# 2022 funds 2022 2022 Donab"ons Grants 21.020 188.935 40,573 184,083 61.593 373.018 Total 2022 209.955 224,656 434.611 UnTrthtgd Rgstritso lunds 2021 Total funds 2021 Donab"on¥ Gr8r 47,366 781 47,368 370,587 313,800 Tot812021 104.t47 313,8 417,947 In¢om• from char6tabl• *dMII Unr••trlct•d Rostrl¢tsd Totsl fund8 2022 2022 2022 Prornn ofequallty. dNwsIty arwj human rights 137.391 63,901 201.292 UnrnsfÉ8d Restritso fvn funds 20 2027 Tol81 lund$ 2021 Promotion of equalty. diver81ty aThJ human r 71.630 34.378 106,1 Page17
THINK EQUAL {A company Ilmrtod by guarantee and r¢glstsrnd clHrttyi
THINK EQUAL {A company Ilmlted by guarnnt••and rngisterod chaiity NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 2022 Anatysl• of oypgndltytv on ctIbl& athlll•s Summary by fund ty Totsl fund8 2022 fund• 2022 fund8 2022 Charitable aciNib•s 240.210 294,515 534,725 Tot41 fvnds 2021 nds 2021 fvnds 2Q21 Charitatr a¢¢fv6fje• 15Q465 335,055 485,520 An•ly•l• 0f•xp•nd5r• by •cdvlU Actlvlll•• undethken 8upport dlrectly costs 2022 2022 Total funds 2022 Charrtable 4caivities 466,193 68,532 534.725 ufid•rtaken Support cts 2021 rotai funds Charrtable actNit*s 438,925 46,595 485,520 Page 18
THINK EQUAL IA company Ilmlt•d by guardrtee and registsrgd clmrityl NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Anaty3ls Ofexpendlr8 ty aGtlvltle¥ IG(Nthu•dl Analys1$ of dlrnct costs Totsl Tol81 funds 2021 2022 Stsff ¢osl$ Curriculum In-county Nbrffk Consultants UK Travel Partners Payments Animation & D)grti8otkn 146.066 101,334 1.699 170.132 11,045 4.386 22,531 121, 180 137,448 2.455 126,323 2.904 48,615 466.193 438,925 Anatysl¥ ofsupportco•ts Totsl fund• 2022 Tot81 lunds 2021 In$ur8nce, legal and pYofes$M)nal exFen Website and IT Office 8upp¢ies Govemance u>sts Event costs Marketing and prontion Ex¢h8n9e 9ain or k*8 Recruitment Eypenses 11.284 15.148 31.876 4.020 2.218 416 2.280 1.284 4315 10,563 22,970 3,780 3.099 68.532 46,595 Page19
THINK EQUAL (A company limit•d by guarantso and registsred Grity NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Gov•m•ncg ¢0sts 2022 2021 Independent eXam1rTs r8mLThr othor accounting costs 4,020 3,660 120 4020 3,780 Staff ¢o•ts 2022 2021 Wages and $8larie8 ial Securty costs Ctrib$jb.0n to defineJJ contrlbutknn p8nsk)n gctm89 135.781 7.815 2A70 115,309 4.225 1,646 146.066 121, 180 The av•Tag• numb•rof p•rn •mplOY by th• Chanty duiity th8 ywwas as fol. 2022 No. 2021 Empby••s No employee reCeed remuneratk)n amounung to more than £60.000 In eltheryear. Key Management Personnel compnsed th6 Trustees and Ihe Chief Ex8cubva Officer. a consultant to the Ch•rity. Their remunerat)n for tr year amounted ta £93.73312021 - È92.2781. TnJ81088' rnmun•rntlon and expw During the ye81, noTrustees received any renxmeratiorl orother beneffls (2021- £NILJ. During the year ended 31 May 2022. Trustee expenses of £1.851 were reimbursed to 1 Trustee in rel*ion to travel and meebng costs (2L727 - £1.944 reimbuwd to l Tmsteej. Page 20
THINK EQUAL IA company Ilmitod by guardnts•and rngistered chartty) NOTES TO THE FINANCIAL 3TATEIAENTS FOR THE YEAR ENDED 31 MAY 2022 10. D•btor¥ 2022 2027 Du• 1n one y•ov Trade debtors Other debtor5 Prepayments and a¢¢ru¢d IrK£ Grants receNable 4630 5.859 6,966 9,249 5,859 11,768 46,460 26,876 11. Cr•dltorn: Affl4wnts falllng du• ¢)n• y•v 2022 2027 Trade mditors Other tsxatbon and Social #eurrity Other ¢ygdrtors ruaJ8 arKI deferred In(x)mè 11#69 3,667 727 234659 4,551 2,785 119, 126 253.012 126,725 2022 2021 Delerred inctsne al 1 June 2021 R•sources deferred durFng the year Amounts released trom prevlwg p¥bds 115,466 231.639 1115.4661 120,987 114466 (120,98T) 231.639 11&466 Deferred Income relates lo grant fundlng has reGdved In culnI year but for which entrtlement will be rnet in future pefi(%J5. Page 21
THINK EQUAL
{A ¢ompony Ilmfted by guaranteeand reglsterod chwity)
NOTES TO THE FINANCIAL STATEIAENTS
FOR THE YEAR ENDED 31 MAY 2022
12.
stal•mont offunds
Stat•m•nt of fvnd•- ¢uN•nt ymr
B•lanGg at 1
Jun& 2021
Balancg at
Inc
THINK EQUAL IA company limitod by guarantsg and r•glstor•d charlty) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 11 Stat8rnant offund• {conlInd Statément offunds- prlor B818llC& 8t 1 Juna 2tr20 Balance al Incom8 Expon(*tur8 31 May 2021 Unrnstrlct•d fund• General Funds 20.238 175,777 (176,839) 19,176 Re8trbct•d lund• GMSP- India pilot The Lightbulb Trust Spain Programm Mexico Programme Canadian for a CNil Soc Old Possums's Prath"cal TnJst South Africo Pwfamm• UBS Optimu8 Four)d9tn Lrfeline$ Inlemational Fund for Eth¢ation N¥lumbo Stifturg- UK Projramme Online resources development GMSP 9,358 3. 764 1.354 (9,358J 17,802) (738) (93,423) f920J (26) (48. 124) (7,619? (42,968) (55,695J (,882) (17,5W) 616 4a02 2366 72.717 2,707 1,179 26 11,226 7,619 47,528 4,630 20,032 26,805 13,906 82.590 64,788 f 7, 61.034 318.178 (335,055) 74, 157 Totsl olfun 81,272 523,955 (511,894J 93,333 Page23
THINK EQUAL (A ¢(panY Ilmttod by gu•rnntse and roglstornd charlty) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR EMDED 31 MAY 2022 12. Statsm•nt olfunds IGontlnwl) GMSP- India Go<1 My STrlenl Partner prowded • grant for th• work of Think Equal in IrKlia. The Work was done in India as Samanta. The Li lrtbulb Trust The Lightbulb Tnjst provided a grant to support the integration of Think Equ81 resources ¥th the Ea$yPea$y organisation in the UK. ain Pro ramrne A donation way received from Fund8(xth) CEDE - Confederacion Espafiola de DIrV08 for runnlng the Iralnlng for the Spaln progamme. This fund represents grants arKI donattons r•c•iv•J from Think Equal USA, Lorenzo Marsical and Fundacion Sertull A.C. to wn the Think Equal TamMe in the Gurrorro and Chuhu8hua Districts of MexKo. Canadian for a CNil SCKI A grant wa8 provided by Canadkgn for a c71 Scoety to tsn$late Think Equal book8 and resources in to the Freh language. South Afnca P A grant vrd$ e1Ved from First 4 Women to delwer the Think Equal programme in tho East•m Cap• region of South AfrKa in partnership Ihe Ntataise ¢)rganisats"on based In South Afn"¢a. Other grantg were also yovided by the Bertha Foundation and LU1¢r Famity for the same programme. UBS- Pilot UBS Optimu8 prowded 8 grant in order to delNer Think Equal pilot programme in Sri Lanka, Bot8wana, Kenya, Argentjna and Canada. in a joint bid with Open SOC Instltute Foundation. Lil•lln•s I IF ndfftEd A grant was provided by the Lrfeline Intemational FurMI for Education to delver the Think Equal prcgramm8 in the Rajasthan sLite of Ifla. Nelumb -UKP ram A 9ranl was prowde(1 by Nelumbo Stiftung to deliver the Think Equal pwrammg in the London Borough of T¢)wer Hamlets. me This fund rèprès•nts the grant provided by Think Equal USA to develop online training development for teacher training and the digitali$gth)n of Think Equal books arKI resources. GMSP This grant was provided GMSP to coNEr the staff ¢))5ts of the Pmgramme Manager based in the UK office. India fun This grant vffjj provided forthe ueation of a nvrt TV 4¢# in Indkg, and cla•?rrM)m impl¢m¢nl8tJon of the prc*3famme in 200 5¢hools. Page 24
THINK EQUAL (A mpany limiied by guarants• and reglsteréd charity) NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 IAAY 2022 12. 8tatsm•nt of fvnd• (cont1nl) UKP ramme. This funding was recerved to cover the costs of the 181 and emotional leaming for parents and teachers in the Unrted Kingdom. EFTV This provlded 88 4ddrtSonal 8UPF¢rtlorth8¢harlty'i acbvitsès In India. 13. An•ly•l• of n•¢ a•ts l)•twn fu Anaty•lJ of n•t a•••ts t•Th lund•- curv•nty••r Totsl fvnd$ 2022 2022 2022 Current assets Cre(Ikor8 due wthln one yew 373.816 (253.012) 68,199 442.018 1253,0121 Totsl 120.804 68,199 189,t)Q3 Anaty•l• of n•t aM•ts I)•ton fund¥. prfor Tot81 fvnds 2021 fvnds 2027 Current assets Credltors due wthln one year 145.901 (126,725) 74. 157 220,058 (126, 725) Total 19. 176 74.157 93,333 Page 25
THINK EQUAL (A company lknlted ty 9nI8• and registored charftyl NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MAY2022 1& R•GonGlllatlon 01 net mov•mefft In fund# to not Guh flowfrom 0rntIng •ctlvttl 2022 2021 Not incomo forthe year (as per Statement of Financlal ILll19$)
5.670
12.061 Adjustmonts for. Ilncreaselldecre8se in debtors Irease1(deerea8e} in uedrtus 119,5841 126.287 82,426 (13,926) Net calh PrId•d by oporntlng ¢llvltl• 202.373 80,561 1& Anatysls ofcash and calh •qulvalonts 2022 2021 Cash in haNI 394SSS 193, 182 Total c•h and •h •qulval•nts 394555 193. 182 Anatyg18 of chang0• In n•td•l At 1 Jun• 2021 Cash flo At 31 May 2022 Cash at bank and in haTrJ 191182 202,373 39&5SS 194182 202.373 396.66S 17. R•latad partytsrtsaeti LesLe Ud¥wn. the Founder and CEO. paid exponses rolating to Think Equal business on her travel$ and m*etings for th• Chartty to the value of £1.851 {2021." £1,944) and these expenses are required lo be reimbursed. An outslanding balanc£ of £Nil {2021.' £Nil) is wrthin eredstors. Page 28
THIMK EQUAL (A company limited ty guarantse and reg6st•rod charlty) STATEMENT OF FINANCIALACTivrriES (INGORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2022 Total fund$ 2022 Total funds 2021 2022 2022 Incom• from: Don¥iion$ and grants Charrtable ath"vrtaè8 209.955 137,391 224,656 63.901 74,611 201,292 41 T.947 106.008 Total Incom• 347.346 288.587 636,903 523.955 Exp•ndltur• on: Costs of raising fvnds Ch8nlabl8 actNrt*s s,508 534,725 26,374 485,520 240.210 294,515 rotal •xwndlturn 245,718 294.515 S40.233 511,894 N•t mov•m•nt In fvnd• 101.621 15,9581 95.670 12,061 R•conclllatlon of fund•: Total funds brought ford Net movement In fijnds 19.178 101,628 74157 15,9581 93,333 96,670 81.272 12,061 Total funds carrf•d forrd 120.804 68,199 189,003 93,333 The Statement offlnandal acdv5ts8 Include8 all galns and1088es fecogn18ed In the year. All income and expenditure derive from continuing adi¥itie$. The notes on pogej 14 to 28 forni wl ofthose Itnandal Stat•me. Page 11
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