Company registratlon nUm￿r. 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$1gred tharfty) coKrEKrs Rofernncg and admlnl8tr•tlYe dgts118 of th• Cmrlty. Its TnMts•• and ad¥l•or• Tru8tO08' rnport Ind8p•nd¥nt oxamln•rf8 18POrt Stat8m•nt olflnan¢￿I actlvHI 10 Balan¢• •h••t 12 Statgmont of ca•h flo 13 Not•8 to tho Ilnanclal statwno 14-28 THINK EQUAL (A ¢¢mpany limltsd by g￿ran1￿ and r8glstsrnd tharity) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHAK'T" FOR THE YEAR ENDED 31 MAY 2022 Truste Ms Lesiee Uth¥tn. Founder and ExetsJti¥e Chalr hAr Jacob Bier Mr K 8echir Mrs B I￿a¢S Msc Hard rPB Mr S Harvey Ms E Gd41z Company r•giiter•d nurn￿r 101e6996 Charlty r•gl•tsr•d nwib•r 1174610 R•gl8t•r•d offl 74 Holland Park Lond W11 3SL Company s•crotsry Lesle¢ U$fr￿n 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 appl￿b￿ 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 8r*d Wales, number 10166996. We are also registered with the Charity Commi￿On 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$olution on 1st August 2017. The organisallon 18 govemwj by 8oard of Tnth foll￿Ing a governa￿ revoow bn 2017118. The Trustees 8re also ils Directors for the purposes of Company Low The Board tak•s it¥ obligation. to en$uro ?11 Trustees are aware of their dutlos and r•8Fth3ibilibes. 8oriou$ty and the Exe￿rtiVe Chair ensures that the8e are disGussed and understood by the Trustees as pwt ofwular Boanl meetirys. Trustees are recrutted thrtyjgh yrsonal recommendation or by open recruthenl, considering rel¢vanl 8kills an¢J th•ir knowledge oflinteresl in the areas needed by the organisalion. Nv4V Trustees are briefed Lx)mprehensively before joining. Induding indNKlual meeb.ngs the Chair and Senior Management. sharing of key documents such as the Articles of Assooation and further drKumentab"on on appoinlmenl such as r￿nt Board Meeting minut•$. New Trustees are apFointed by Board Resdution. The Tru81tt8 meet fomialty evwy C￿FI8 rf months further ad hoc meetings thrcrfjghout the year as required. The Tru$t¥g8 Set th• $tr*tegK directN)n ol Thlnk Equal and monrtLY and review operational and financial perfornianrR. The day-ltrday running ol the organisation i8 debgaled to the Senlor management slaff, led by the Chief ExecutNe Officer ObjoGtivo3 Jnd Actlvttl The objects ollhe Chanty as per rts Articles ofASSoaab￿. or•. fty tho Wb1￿ bgn•fft.'- 11 the promtr'on of equalty and dwer¥ty by.. •. the tlimin*tion of di8crfmlnaOon on th• ground8 of race, ynder. di8abllty. ¥exual oAenl•tlon, or rellglon. b. advano'ng the gjucatson of chlldren and raL%iTrJ aKrene8s In equalty and dNersity Parti¢ularfy, blrt not limrted lo. among children. ¢. promoting a¢tiwtse8 for children to fwlor under81anding betr1￿ people from dNerse backgrounds. conclucting or commissioning resewch ￿ equalty aNJ di¥•rsrty issues in educ*ional settings and pu￿lshir0 the re8uR8. umivating a sentiment in ¢hildren and in educational selyngs in favour of equ81ty and ￿￿er$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 9￿Ants8 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 exF￿rIen￿al Slxial arKI ernob'onal leaming. We ask them lo mandate this as a new subj.ect onto the compulsory cuM￿luM 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 •M￿thY. lovlng r*latlon8hlpry. 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, ccpCon5tT￿ting prosooal neuropathways in the deVelo￿n9 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￿￿$1 years In thelr cl￿ntr￿s. Vrfe have negotiated and svJned men￿ra￿lUM'S of Underst8nding wth.. projecis bth￿n May 2(Y214rwJ May 2022.. In$ltuto mUn￿1paI 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 organ￿atIOn, South Africa for year 2 United Way, Implemenling aTha fvnding Trin￿ and Tobago Or¥Joing pro1￿t$ from last reporung perlod.. Eastem ca￿ MIn￿ty of Educ8triw), ScMJth Afi Comunidad Autonoma de M•Jrid, Spawi Fundacion Goma e Spuma. Spain Ensen8 por Mexico. Montetrey w4ect Masibumbane Development Organ￿tIon. 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 lo￿1 program funded by Inter- Ameri¢an Development Bank Pirgmal Fcwjndabon. India Leaming Curve. India Bounce F*Thard. LK EasyPeasy lIn￿￿. TUni￿a Page 3 TH114K EQUAL IA company Ilmlted by g￿rantee} TRUSTEES, REPORT {CONTIIIUEDI FOR THE YEAR ENDED 31 IAAY 2022 Programmtt: Pilots and Rolllxts in dotsil Co1(￿bIl The project was ¥U¢￿$fullY corn￿ted by the end of 2021. The 30 WEeks of the proJramme were completed by the majorty of Eamy Chikyhoc￿l Development unrts through a hybn"d model of impEemenlation which includod bi￿akty calls and 2417 access to a chatbot in WhatsApp. where tjoth teachers and parents could download support audio and visu81 files. ask queSt￿S and send evidence of the •diV￿e8 completed. A final focus group look place in December and a quaJrt81we report was compiled by Fundac4On Escuela Nueva, the implèmgnb.ng partner, ¢8legoriting the feedback was abundant and very FKY&￿.Ve. Thi¥ report a180 Included results from a final ¥urvey that tsachers ans%%tred in %thi¢h they highlighted that the pyogramme had be¥n a p)6ltive experience for their own leaching ski118 and for the Social anLf Emotsjnal Leaming of children. An independent R8ndgmized Control Trial evaluation vrds also conducted by Inn¢)vatsons for Poverty Action which had a baseline and an endlinè. Data was gathered by mid Decemter 2021 and was analyzed by Innoval￿n5 for Povety kb'on and the Inler8merican Development B8nk. A preSenL￿"on the re$utts was shargd in April 2022. Various $tat581icalty ignificanl flndlngs indicat￿ hw the programme ha8 a posrtw effect in ct4ldr•n. t•a¢hers, and care9Tvers. The Covid re5pon¥e prO1￿t wrth Leamlng Curve In th? Stste of Telangana whith stsrted in May 2021 wa8 successfijlty completed, reaching 141 anganwadis. 211)0 sludenl$, and 2000 p8renl8. The matertals were prtnled In October 2021 8n¢J in that sam& month the project was offiu.ally launch¥ and restricted expendrture was £294,51512021." £335.0551. Total funds carried forward for the Charity on 31 May 2022 were un￿strICted 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 Unrestr￿ted 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•rsonn*l and recommends to the Board ofTNslees. l)ecisions made by the finance committee requlre ratth￿tIon 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 $tabilty Companng the competiti'v&neu of THINK EQUAL sa&ry banding agwn*t credible independent mark81 benchmarks • Public and Third Sector pay awards a￿1 any relgted swwit . Individual and T•8m p•rfomwr . Pasl.performance t¢r￿hMar￿8 • The slgnlflcance of ern￿oYeeS in dd1Ve￿ng THINK EQUAL'9 charltabsè vknion and F The Committee wll consider the rellectKJn$ 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 P￿sented to the full Board for rallficalion and wlll be mlnuieme would impose a synrfKant risk in our ability to maintain our *etivit•s To mib9ate the ri$k, are fo¢u$bn9 in Iong•r t•m funding •nd er•ating r•59rv05 to provide for sudden loss of income. Further risks whKh have been identified include al￿gatIonS of impropriety of our peisonnel and more usual risk associated WU) natural catastrophes such as fire, flood, communications failure, data breach, etc. (most of wthich are covered by our insurance). Risks a￿ reviewed regularty. Publ1¢ 8enofft In setting-up our programme of worK we have given regard to the CIW CoMmis￿On'$ general thee on public benefft and the Trustees always ensure that the V•rsrk fund is in Ilne with the Charity's aims and objectives as slated in the Articles of Assocth"on. All a¢tivrties have been undertaken to further the Charity'5 purpose for the public benefft. Page 8 THINK EQUAL IA company limited by guaranl•o1 TRUSTEES'REPORT {coP￿INUED) 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 prc*3ramn* 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 e*th) 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 unrestr￿e￿ fvNJing in the year2022-2023. We have athieved a system change In rea¢hlng fvll Sa￿TatIOn 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$¢hfjd seale in Vh￿16 citiès. provir)ce$, 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 subj￿1 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 re￿rt W88 approved by the Board on.: 7/..Z/.1.A..........-.ar￿ 81gned on ts behalf by.. M$ La81•• U4 68.199 189.003 93,333 The Statement ofllnandal acbvrfles InclLths all gains aThJ k)8ses recc#JnMd in the year. All In￿Me 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 exernF￿0n from audlt under 8ecthJn 477 ofthe Companies Act 20C6. The Mern￿rs have I￿t req￿red 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¥w*l Btstwntrrts. The financial statements have t￿en prepared in ac0)rdan￿ vthh the provlsN)ns applicable to ent￿t3 subject to the small companies regime. The fin8nci81 ststements were appro¥ed 8ThJ authorised fr*18gue by tho TNstees Signed on theirbeh81f by.. Ms Le$lw Uthwln Executive Chair Date".z- /L/ZI The notes on pages 14 to 26 fom part ofthese finanoal statem￿. Page 12 THINK EQUAL IA company Ilmltod by guarante8and r8glst•rnd ¢harityl STATEM￿ OF CASH FLOWS FOR THE YEAR ENDEO 31 IAAY 2022 2022 2021 Cash flows from oporating activiti0• Nel cash used in 0￿rating autvibes 14 202 J73 80,561 Chango In caih and calh •qulvalwrts In th• y C8sh and c8sh equivolen¢$ *thg tryinning of the yoar 202,373 80,$61 193.182 112.621 C*#h and c••h •qulval•nts •tth• •fbd of tho y•ar 15 395.555 193. 182 The notes on pages 14 to 26 fomi part of Itthe finorKao1 slatem Page 13 THINK EQUAL IA ¢ompany INn•ted by guarantso and reglster•d ¢hartty} NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAAY 2022 Genernl Info￿110 Think Equal i¥ a cc4npany limited by guarnntee arKI is registered vAth the Charty Commission Icharity Rogistered Number 11746101 and Registrar of Companley (Company Registration Number 101669961 in England and wa￿8. In the event of the Chartty bein9 wound up. the liabllity in reSp￿t of the guarantee is limrted to £1 per member of the Chanty. The address of the registerwj Off￿￿ 18 given In the Charfty infomation on page 1 of these financial statements. The nature of the Charfty's op•r8tth8 and prin¢xpal athb88 arn to promote equalty and diversty and to promote human rights. Accounilng pollcl•• 11 B••lB of pvepllr•llon ol11n•￿I•l st•tsm•nts The financ￿1 statemerrts have tjeen prepared in ￿rdance with the Charitie8 SORP IFRS 1021- Accounllng and Reporting by Charrt￿8.' Statement of Recommended Practice applicable lo charities preparing their accounts in accordance V•ith the FinarKral Reportt'ng Standard appilcabltr In the UK and Republic of Ireland {FRS 1021 and the Ccmnpnies Act 2006. Think Equal meets the definition of a pthlk benefft entity urFd•r FRS 102. A888ts and Ilablllti8$ afe initially recognised at hI$l￿GaI cost or tran8acUon value unle#s otherwise Slated in the relevant accounting policy. Th• finaneial 8tat•m•nts are prèpared ￿ • going cor￿eM basig under th• hl8tsrfeal cost convention, modffied lo include certain items •1 fair value The ffinancial statèments zre prep¥r¢d in slerfing which 18 the functional wrenGy of Ihe Gharty ond are rounded to the nearest r￿nd. The ￿gnificant accounting pdi¢ies apPl￿d in the preparation of these financial slatemenl$ are $01 out below. These polilies have been consistenty applied lo all years p￿Sented u￿e$S olhemse slated. 22 Golng concom The financial statements have been prepared on a going cOn￿M 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 n￿rn bas￿ in weparing the annual report atKI accounts. Page 14 THINK EQUAL {A company limltgd by gI￿ran￿o 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 reCe￿ab￿ can ￿ m&a$ur•(I r•liably. Grants ar8 induded in the Statwn¢nt of Financk*l fv£tivitie8 on a r￿81vable ba81$. Thè balance of in¢om• r•ceN•d $pe¢ffi¢ wrpw but not expended during thè wftod ts shown in the relevant nds on the Balance sheet. ￿ere income is received In advance of entf(lement of receipl, rts recognrtion is deferred and induded in credrtors aB deferred inoime. enb'tlemenl occur8 before income is recewed, the income is acCn￿d. For donatlons to recognised the Charrty wll hav• b*•n notffied of the amounts and the settlement date in wr￿n9. If there are condttions attached lo the donthon and th￿ requ1￿9 8 level of perf0m￿nCe before entrtlement can be otlained then income is defefred until those conditions are fjjlly met or the fuffilment of th¢)se condrtlons is wiitiin the control of the Charity and rt is probable that they be fulfiled. 2.4 Expfrndliuro Exp•ndY(ur• is r•cogni••d onc• there i• a *al or con8lructi¥e obligo¢bn to tr•n•f•r 0¢￿0Mle benofft lo a third party. rt is probable that a transfer of econom￿ benefits ￿111 be required in setuement and the amount of the obllgalon can be meagured rellabty. Expendthjre 18 classffied by actsvty. The cos1$ 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 $upport wsts are not attrlbufa￿e to * Single actsvrty are apportioned tho$¥ 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 1ft￿rred 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• d0fth￿0ft ot ¥ eh¥ritable Company for UK ¢orporatton t•¥ purpose$. Accordingly, the Charity rs potentialty exempt from taxation in respect of income OT capital gains received wthin categories covered by Chapter 3 Part 11 of the Corporntion Tax Act 2010 or Section 256 of the Taxation of Chargeab* Gains Act 1992. to the extent thal such income or gains aro applied ex¢lusr¥ely to thantsble purpxes. 2.6 DebtorJ Trade and cther debtorn are fecognised at thè selttement amount 8fter any trade di8count offered. Prepaym8nts are valued at the amount wepaid net of any trade discourts due. Page15 THINK EQUAL {A company limltod by guaranteeand vfjglslered eharlty) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Accountlng pollcl•B IcontIn￿ 2.7 Ca•h at b•nk and In hand Cash al bank and in hand indudes cash and Short-temi hwjhly IiqLMd invesknents wth a short malurlty of three months or less from the date of aCqUisrt￿n cf opening oflhe derx)srt or similar account. 18 Uabilitl•• U3￿.1111e9 are recogni8ed when there 18 an obliggkn at th8 Balance sheet date as a result of a pa81 event, il is probable that a transfer of economK b￿tsfft ¥&ill be requlred In seltlemenl. and the amount of the settlement Can be estsmated reliabty. ￿*￿.1it1e9 Are recognised at the amount that th• Charty antiupat88 it ￿1¢ pay to setue Ihe debt ¢y the amount it has receNed a¥ advanced payments for the goods or seMCeS il musl Provhde. 19 Flnanclal In•lnMn•nts The Cha￿ty holds only bastc ffflandal InStrU￿t$. Thè 17nanclal a$sets and Ilabllllles of the Charlty are as follows.. D•btors - Trad• d•btOf8 am bas￿ financial Instruments and are debt Instrum•nts m•88ured at amortised cost as detailed in Note 10. Prepaym￿ts are not financial instruments. Cash 81 bank - 18 clas8ffled as a bas1¢ finan¢lg1 Instrutrenl and 1$ measured at face value, as pros8nt8d on th• Bala￿ Sh88t. Fin8n¢i81 li8biliti•8- Trad¢ cr￿itors, 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 part￿lar 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 Prorn￿n ofequallty. dNwsIty arwj human rights 137.391 63,901 201.292 Unrnsf￿É8d 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 c￿￿tIbl& 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•nd5￿r• by •cdvlU Actlvlll•• undethken 8upport dlrectly costs 2022 2022 Total funds 2022 Charrtable 4caivities 466,193 68,532 534.725 ufid•rtaken Support c￿ts 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 Ofexpendl￿r8 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 pron￿tion 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 G￿rity NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Gov•m•ncg ¢0sts 2022 2021 Independent eXam1r￿Ts r8mLThr othor accounting costs 4,020 3,660 120 4020 3,780 Staff ¢o•ts 2022 2021 Wages and $8larie8 ial Securty costs C￿trib$jb.0n to defineJJ contrlbutknn p8nsk)n gct*m89 135.781 7.815 2A70 115,309 4.225 1,646 146.066 121, 180 The av•Tag• numb•rof p•r￿n* •mplOY￿ by th• Chanty duiity th8 ywwas as fol￿￿. 2022 No. 2021 Empby••s No employee reCe￿ed 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 cul￿nI 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 Incr Edwtion Nelumbo Strftung- UK PrcrfJramm Online r•sour¢es dovokpment GMSP India FLmd UK Programme Uni¢¢ftol•vlsSon prwt 616 5.802 2,366 4630 20.032 26.805 13.906 16161 15,6421 12.3661 195,7971 {39.441) {21,329) 111,928} 130,000) 127,6831 124.9881 134.7271 180 113.267 22,090 25,591 5A76 1,980 40.S86 24.988 ¥727 12,902 74167 288,SS7 1294,$1S> 68,199 T¢)tsl olfund• 93.333 635.903 1540.233) 189,003 Page 22 THINK EQUAL IA company limitod by guarantsg and r•glstor•d charlty) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 11 Stat8rnant offund• {conlIn￿d Statément offunds- prlor B818llC& 8t 1 Juna 2tr20 Balance al Incom8 Expon(*tur8 31 May 2021 Unrnstrlct•d fund• General Funds 20.238 175,777 (176,839) 19,176 Re8trbct•d lund• GMSP- India pilot The Lightbulb Trust Spain Programm Mexico Programme Canadian for a CNil Soc Old Possums's Prath"cal TnJst South Africo Pwfamm• UBS Optimu8 Four)d9t￿n Lrfeline$ 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 DIr￿￿V08 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 c￿71 Scoety to tsn$late Think Equal book8 and resources in to the Fre￿h language. South Afnca P A grant vrd$ ￿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 ndfft￿Ed A grant was provided by the Lrfeline Intemational FurMI for Education to delver the Think Equal prcgramm8 in the Rajasthan sLite of If￿la. 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$gth)n of Think Equal books arKI resources. GMSP This grant was provided GMSP to coNEr the staff ¢))5ts of the Pmgramme Manager based in the UK office. India fun This grant vffjj provided forthe ueation of a nvrt TV ￿4¢# in Indkg, and cla•?rrM)m impl¢m¢nl8tJon of the prc*3famme in 200 5¢hools. Page 24 THINK EQUAL (A mpany limiied by guarants• and reglsteréd charity) NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 IAAY 2022 12. 8tatsm•nt of fvnd• (cont1n￿l) UKP ramme. This funding was recerved to cover the costs of the ￿181 and emotional leaming for parents and teachers in the Unrted Kingdom. EFTV This provlded 88 4ddrtSonal 8UPF¢rtlorth8¢harlty'i acbvitsès In India. 13. An•ly•l• of n•¢ a•￿ts l)•t*wn fu Anaty•lJ of n•t a•••ts ￿t￿*•Th lund•- curv•nty••r Totsl fvnd$ 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)•t￿￿on 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 9￿￿nI8• 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 0￿rntIng •ctlvttl 2022 2021 Not incomo forthe year (as per Statement of Financlal ILll￿19$) #5.670 12.061 Adjustmonts for. Ilncreaselldecre8se in debtors I￿rease1(deerea8e} in uedrtus 119,5841 126.287 82,426 (13,926) Net calh Pr￿Id•d by oporntlng *¢llvltl•* 202.373 80,561 1& Anatysls ofcash and calh •qulvalonts 2022 2021 Cash in haNI 394SSS 193, 182 Total c*•h and ￿•h •qulval•nts 394555 193. 182 Anatyg18 of chang0• In n•td•l At 1 Jun• 2021 Cash flo At 31 May 2022 Cash at bank and in haTrJ 191182 202,373 39&5SS 194182 202.373 396.66S 17. R•latad partytsrtsaeti￿ LesL*e Ud¥wn. the Founder and CEO. paid exponses rolating to Think Equal business on her travel$ 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 fo￿rd Net movement In fijnds 19.178 101,628 74157 15,9581 93,333 96,670 81.272 12,061 Total funds carrf•d for￿rd 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 THIMK Eolng cone•rn The finanGlal stslements have be￿ prepared on a golng concem ba8ls. The Tru8tee8 have considered relevant infoTmatK>n, Ir￿uding the annual b￿l￿et. forecast fvlure cash flows and the impact of any subsequent events in making their awssmenL Based on these assessments and haviThJ regard to the resources available to the entty, the Truste&8 have concluded that there is no maten.al uncertainty and that they can continue to adopt the 90ing oncem basis in preparing the annual report and actounts. Page 14