Charlty number: 1175352
Mellon Educate (UK)
{a foundation charitable incorporated organisation (CIO))
Trustees. Report and Financial Statements
For the financial year ended 31 December 2024

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Contents
Page
Administrative Detsils
Trustees. Report
Trustees. Responslbllltles Statement
Independent Auditors. Report
8-11
Statement of Financial Activities
12
Balanco Shgat
13
ststement of Cash Flows
14
Notes to the Financial Statements
15-25

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Administrative Detail
For the year ended 31 December 2024
Trustees
Andrew Brennan
Niall Mellon lappointed 1 April 20241
Fiona Lindsy Langdale (appointed 1 April 20241
Noel Elliot lappoinled 1 April 20241
Dominique Hainebach (Chairl Iresigned 1 April 20241
Mike Butler (resigned 1 April 20241
Charity registration
number
1175352
Registered office
Suite 4113 Units 3A
34-35 Hatton Garden
Holborn
London
EC1N 8DX
Independent auditors
BDO
Statutory Audit Firm
Block 3
Miesian Plaza
50-58 Baggol Street Lower
Dublin 2
Bankers
The Co-operative Bank
P.O.Box 250, Delf House
Skelmersdale
WN8 6WT
Page 1

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Trustees. Report
For tho financial year ended 31 December 2024
Structure, Govemment and Management
Legal Stmeture
Mellon Educate IUKI is a registered charity (No. 1175352) l.the Charill'l. The Charity was registered with the
Charity Commission for England and Wales {'Charily Commission") on 25 October 2017.
The goveming document of the Charity is a CIO Constitution dated 25 October 2017.
On 1 January 2018 the Charity assumed the activities, assets and liabilities of Mellon Educate IUKI 2008, a
charitsble company registered in Northern Ireland. company number N1068969 and registered charity number
102874.
The Charity's accounts are prepared on a 'true and fair, basis in accordance with accounting standards and the
methods and principles of the applicable Stslemenl of Recommended Practice ISORPI.
Membership
As a foundation CIO the members of the Charity are the Trustees for the lime being.
Govemance
Mellon Educate IUKI is committed to holding a high standard of ethical and lawful behaviour in all our activities
which are led by the Trustees and implemented by all associated with the Charity.
Page 2

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Trustees. Report (continued)
For the financial year ended 31 December 2024
Structure, Govemment and Management {continued}
Trustees
Pursuant to the CIO Constitution the Trustees are appointed by the Founder, Niall Mellon, during his lifetime.
The Trustees are identified through their ongoing contributions lo the Charity and who have the appropriate
experience and commitment lo govem the Charity. The Trustees are responsible and accountable for the
management of the affairs of the Charity.
The Trustees of the Charity are sel out on the Administrative Details page and they have served for the entire
rinancial year. The Trustees are appointed for a two year period, after which they may be re-appointed by the
Founder.
Objectives and Activities
The objects of the Charity as sel out al clause 3 of the CIO Constitution are..
'The income and property of the CIO shall be applied for the benefit of the public worldwide for the purposes set
out below in particular, but not limited to, for the benefit of the underprivileged and the socially and economically
disadvantaged in South Africa..
The advancement of education by in particular, but not limited to lal the construction of, or assisting in the
construction of, schools and {bl the provision of, or assisting in the provision of, equipment, teaching and
learning materials and the mentoring and training of school principals and lea¢hers',
2. The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other
disadvantage by in particular, bul not limited to, the provision of, or assisting in the provision of lal housing
and related amenities, Ibl food, clothing lincluding school uniforms) and other life essentials to ensure the
well-being of children and young persons to enable them to engage fully with the educational prO￿$S and
{cl school transport.,
3. The advancement of health by in parbcular, bul not limited to, the prevention or relief of sickness, disease or
human suffering by the provision of, or assisting in the provision of, medical supplies- and
4. The development of the capacity and skills of the members of the socially and economically disadvantaged
community in such a way that they are better able lo identify, and help meet, their needs and to participate
more fully in society
In such ways as the charity trustees shall from time lo time think fit in particular, but not limited to, by supporting
the charity Mellon Township Limited (also known as Mellon Educalel, a charitable company registered in the
Republic of Ireland, Companies Registration Office registered number 389423 and Charities Regulatory
Authority registered number 20058074."
Page 3

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Trustees. Report (continued)
For the financial year ended 31 December 2024
Structure, Govemment and Management {continued}
Activities
The Charity's objectives are primarily Mellon Educate UK supports Mellon Educate Ireland by providing,
amongst other things.'_ by supporting the charity registered in the Republic of Ireland called Mellon Township
Limited, also known as "Mellon Educate. {'Mellon Educate Ireland'l in connection with the annual Building Blitz
and related initiatives run by Mellon Educate Ireland each year. These initiatives are run for the benefit of the
underprivileged in South Africa as a means of providing resources to improve classrooms and facilities and
assist the teachers lo improve the stsndard of education offered in the classrooms.
Mellon Educate UK supports Mellon Educate Ireland by providing, amongst other Ihings'.-
assistance regarding the recruiting of Blitz volunteers from the UK lincluding volunteer fundraisingl-
and.,
grant funding.
conflicts of interest policy and register.,
collaboration agreement with Mellon Educate Ireland regarding the Building Blitz and Teaching Blitz.,
grant making policy and procedures.,
resource sharing agreement with Mellon Educate Ireland regarding (shared staff, facilities, premises,
website and publications)., and
safeguarding and child protection policy.
Public Benefit Entity
The Trustees of the Charity have given careful consideration to the Charity Commission's guidance on public
benefit to ensure that the charity's activities have achieved the Charity s objectives and provided a benefit to its
beneficiaries.
Achievements and performance & Future Developments
Principal activities and review of the Charity
During the accounting year the Charity's principal activities were-
Bulldlng Blltz 2024
The annual Building Blitz lo Cape Town in South Africa look place from 18th November lo 221h November 2024.
The Building Blitz look pla￿ in the Western Cape Township of Lwandle 41km out of Cape Town al the
Umnqiphiso and Silukhanyo Primary Schools. 413 International volunteers were joined by several South African
Volunteers to participate in this year's building Blitz. The Volunteers help build twenly-one Classrooms, two
Feeding Kitchens, two ablution blocks, covered sealing areas with seating and improved sport facilities,
impacting the quality of education for over 1,050 children per year attending the two schools. This has been
made possible through our partnership with the Weslem Cape Education Department, our wonderful and
generous volunteers. Donors and corporate sponsorships.
Page 4

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Trustees. Report (continued)
For the financial year ended 31 December 2024
Achievements and performance & Future Developments (continued)
Education Programmes
Mellon Educate's Community Literacy Support Programme for Primary schools, was launched in January 2022,
replacing our previous Full School Programme which had supported 11 primary and secondary schools. The
dedicated programme was developed over 8 3 year period in response lo the Intemalional PIRLS report of
2016, where South African children were assessed as the lowest performing participants with results indicating
that 780/0 of learners were unable to read for meaning by Gmde 4, lage 9-10 years).
The progmmme incorporates the Wordwork 4 step programme, (Ready Steady Read Write) delivered by
trained Community Literacy tutors. In one hour once a week the programme offers support lo children struggling
with the basics of literacy and language in the foundation phase of their education and is delivered in 3
languages by trained youths from communities surrounding our partner schools.
Our partner schools in 2024 consisted of 16 primary schools based in Khayelitsha, Mfuleni, Delft, Wesbank,
Wallacedene, Lwandle and our first school in Phoenix Durban supporting 4140 learners.
Western Cape Education Department
Mellon Educate continues to develop a strong and meaningful partnership with the Minister for Education in the
Westem Cape, MEC David Maynier and his department. The selection of schools where both the infrastructure
work and education 8SSiStance takes place is done in consullalion with the WCED in order to ensure the areas
of most need are identified and helped to maximum effect. The WCED contributes 500/D of the construction
costs to the annual building blitz, thereby endorsing the work the charity is carrying out so successfully in the
Western Cape.
Financial review
The statement of financial activities and balance sheet are sel out on pages 11 and 12. The surplus for the year
amounted to £13,210 (2023 - £84,969). The unrestricted funds carried forward amounted lo £302,654 (2023
£276,983J. The restricted funds Carried forward amounted to £7,385. It is also noted that the administration and
accounts functions of this entity are carried out by Mellon Educate Ireland (pursuant to a resource sharing
agreement), effectively reducing the costs of the Charity lo generate funds.
Going concern
The trustees believe that the charity has adequate financial resources lo continue in operation for the
foreseeable future and accordingly the annual financial stslements have been prepared on a going con￿rn
basis. Management has assessed the charitls ability to continue as a going con￿rn for the foreseeable future
and is not aware of any factors beyond their period of assessment that may cast doubt on the charitls ability to
Continue as a going concern. Management thus considers the use of the going concern principle lo be
appropriate in the preparation of the annual financial statements. The trustees have satisfied themselves that
the charity is in a sound financial position and that it has access to sufficient ongoing fundraising activities
together with reserve facilities to meet ils foreseeable cash requirements. The trustees are also not aware of
any material non-compliance with statutory or regulatory requirements or of any pending changes to legislation,
which may affect the charity.
Page 5

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Trustees. Report (continued)
For the financial year ended 31 December 2024
Reserves policy
Unreslricled Funds.. Funds generated will be utilised to continue the support of the School Building Blitzes and
Mellon Educate Literacy programme and related initiatives. The Trustees will continue lo ensure that reserves
remain in place to meet the current commitment to operations, and maximise the contributions the charity
makes lo ils objectives.
At the current operating costs and activity levels the Trustees consider the minimum cash reserves requirement
lo be sel at a level of £30,000 {Cash reserves in 2024 £438,841). Mellon Educate Ireland continue to support
the operations of Mellon Educate {UKI and will continue to do so going forward.
Restricted Funds.. When funds are received where it is the wish of the donor lo assist in a specific project or lo
fund a particular activity the funds are held as a reslricled fund and applied only for the specific purposes for
which the monies were given.
Disclosure of Infomiation to Auditors
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that..
so far as the Trustee is aware, there is no relevant audit information of which the Charity's auditors are
unaware, and
the Trustees have taken all the steps that ought lo have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the Charills auditors are aware of that information.
Post Balance Sheet Events
The Trustees are not aware of any significant maller or circumstance arising Sin￿ the end of the financial year,
not otherwise dealt with in this report or the financial ststemenls, which significantly affect the financial position
of the charity or the results of ils operation to the date of these annual financial stalemenls.
Auditors
The auditors, BDO, have indicated their willingness to continue in offi￿. The designated Trustees will propose a
motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Niall Mellon
Trustee
Andrew Brennan
Trustee
Dale.. 1 October 2025
Page 6

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Statement of Trustees. responsibilities
For tho financial year ended 31 December 2023
The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance
with applicable law and regulations.
Charity law requires the Trustees lo prepare financial stslements for each financial in accordance with United
Kingdom Generally Accepted Accounting Practi￿ (United Kingdom Accounting Stsndards and applicable lawl-
Under Charity law, the Trustees musl not approve the financial statements unless they are satisfied that they
give a true and fair view of the stsle of affairs of the charity and of ils incoming resources and application of
resOU￿e$, including its income and expenditure, of the charity for that year.
In preparing these financial statements, the Trustees are required lo..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charills transactions and disclose with reasonable accuracy at any lime the financial position of the charity
and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.
Approved by order of the members of the board of Trustees and signed on ils behalf by..
Niall Mellon
Trustee
Andrew Brennan
Trustee
Dale.. 1 October 2025
Page 7

BDO
Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Independent Auditors. Report to the Members of Mellon Educate {UKI
Opinion
We have audited the financial statements of Mellon Educate IUKI Ilhe 'charilable Companll for the year ended
31 De￿mber 2024 which comprise the Ststement of Financial Aclivilies, the Balan￿ Sheet, the Statement of
Cash Flows and the related notes, including a summary of significant accounting policies sel out in note 2. The
rinancial reporting framework that has been applied in their preparation is applicable law and and Financial
Reporting Standard 102 'Uniled Kingdom Generally Accepted Accounting Practice..
In our opinion the financial statements..
give a true and fair view of the slate of the charitable companvs affairs as at 31 De￿mber 2024 and of
ils net incoming resources for the year then ended.,
have been properly prepared in accordance with Generally Accepted Accounting Practice., and
have been prepared in accordance with the requirements of the Charities Act 2011.
Independence
We are independent of the charitable company in accordan￿ with the ethical requirements that are relevant lo
our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
Basis for opinion
We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We believe that the audit evidence we have obtsined is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubt on the charitable companls ability lo
continue as a going concern for a period of at least twelve months from when the financial statements are
aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concem are described in the
relevant sections of this report.
Page 8

BDO
Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Independent Auditors. Report to the Members of Mellon Educate (UK) (continued)
Other information
The trustees are responsible for the other information. The other information comprises the information included
in the Annual Report, other than the financial stslemenls and our Auditors, Report Ihereon. Our opinion on the
rinancial statements does not cover the other information and, except to the extent otherwise explicitly slated in
our report, we do not express any fomi of assurance conclusion Ihereon.
In connection with our audit of the financial statements, our responsibility is lo read the other information and, in
doing so, consider whether the other information is materially inconsislenl with the financial statements or our
knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to delemiine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Charities Act 2011
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Report is consistent with the financial statements.
the Trustees, Report has been prepared in accordance with the Charities Act 2011.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not identified material misstalemenls in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires
us lo report to you if, in our opinion..
adequate and proper accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us., or
the financial slalemenls are not in agreement with the accounting records and returns- or
certain disclosures of trustees. remuneration specified by law are not made- or we have not re￿iVed all the
information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and lake advantage of the small companies, exemptions in preparing the Trustees, Report and from
the requirement lo prepare a Strategic Report.
We have nothing to report in this regard.
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement on page 7, the Trustees (who are also the
trustees of the charitable company for the purposes of charity lawl are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view, and for such inlemal control as
the Trustees determine is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable companls
ability lo continue as a going concem, disclosing, as applicable, matters related lo going concern and using the
going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
Page 9

BDO
Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Independent Auditors. Report to the Members of Mellon Educate (UK) (continued)
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance
with the Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always delect a material misststemenl when it exists. Misststements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the ewnomic decisions of users taken on the basis of these financial statements.
A further description of an auditor's responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at.. www.frc.org.uklaudilorsresponsibilities. This description forms part of
our auditor's report.
Extent to which the audit was Capable of detecting irregularities. including fraud
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design prO￿dureS
in line with our responsibilities to delecl material misstslemenls in respect of irregularities, including fraud. The
exlenl lo which our prO￿dureS are capable of delecling irregularities, including fraud is detailed below..
Enquiry with Those Charged with Govemance and management regarding known or suspected instances of
non-complian￿ with laws and regulation and fraud, including actual or potential litigation and claims.,
Reviewing minutes of meetings of Those Charged with Governance, inlemal audit reports and
correspondence with regulators.
Assessing the design and operating effectiveness of controls and procedures relevant lo the preparalionof
the financial stslemenls and the detection and prevention of irregularities and fraud, including Changes lo
supplier bank details.,
Reviewing financial statement disclosures and testing supporting documentation to assess compliance with
applicable laws and regulations.,
Challenging the assumptions and judgements made by management for key estimates, in particular the
assumptions used lo value the defined benefit pension scheme.,
Identifying and lesling the appropriateness of journal entries and other adjuslmenls, with particular focus on
unusual account combinations and postings by unexpected users or senior management- and
Incorporating unpredictsbilily into our lesling approach through amending the nature and extent of audit
procedures.
Our audit prO￿dureS were designed to respond lo risks of material misstslemenl in the financial slatemenls,
recognising that the risk of not delecling a material misstatement due to fraud is higher than the risk of not
delecling one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,
misrepresentations or through collusion. There are inherent limitslions in the audit prO￿dureS performed and
the further removed non-complian￿ with laws and regulations is from the events and transactions reflected in
the financial slalements, the less likely we are lo become aware of it.
Page 10

BDO
Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Independent Auditors. Report to the Members of Mellon Educate (UK) (continued)
The purpose of our audit report and to whom we owe our responsibilities
This report is made solely lo the charitys members, as a body, in accordance with Chapter 3 of Part 16 of the
Charities Act 2011. Our audit work has been undertaken so that we might stste to the charills members those
matters we are required to state to them in an Auditors. Report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charitls
members, as a body, for our audit work, for this report, or for the opinions we have fomied.
Imon Carbe
for and on b
fofBDO
Statulory Audit Firm.
Block 3, Miesian Plaza
50-58 Baggol Street Lower,
Dublin 2, D02 Y754
Dale.. 1 October 2025
Page11

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
ststement of financial activities (incorporating income and expendituro account)
For the year ended 31 December 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from-
Donations and legacies
505,835
28,811
534,646
607, 763
Total income
505.835
28.811
534.646
60T, 763
Expenditure on:
Raising funds
Charitable activities
130.464
349,700
130.464
390,972
147,937
374,857
41,272
Total expendlture
480.164
41.272
521.436
522, 794
Net movement in funds
25.671
112,461)
13.210
84,969
Reconciliation of funds..
Total funds brought forward
Nel movement in funds
276.983
25.671
19.846
112.461)
296.829
13.210
217,860
84.969
Total funds carried forward
302,654
7,385
310,039
296,829
All activities relate to continuing aclivilies.
There are no recognised gains and losses other than slated above.
The notes on pages 15 to 25 form part of these financial slalements.
Signed on behalf of the trustees..
Niall Mellon
Trustee
Andrew Brennan
Trustee
Dale.. 1 October 2025
Page 12

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Registered number..
Balance Sheet
As at 31 December 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
11
Current assets
Other debtors
Cash at bank and in hand
12
100
13
438.841
345,395
438.841
345,495
Creditors.. amounts falling due within one
year
14
{128,802)
(48,666)
Net current assets
310,039
296,829
Total net assets
310,039
296,829
Charity funds
Reslricled funds
16
7.385
302,654
19,846
276,983
Unreslricled funds
16
Total funds
310,039
296,829
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Niall Mellon
Trustee
Andrew Brennan
Trustee
Dale.. 1 Octtsber 2025
The notes on pages 15 to 25 form part of these financial statements.
Page 13

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Statement of Cash Flows
For the year ended 31 December 2024
2024
2023
Note
Cash flows from operating activities
Nel incoming resources
Decreasellincreasel in debtors
{Decreasellincrease in creditors
13,210
100
84,969
20,984
(221,655)
14
80,136
Net cash provided by operating activities
93,446
(115, 702)
Change in Cash and cash equivalents in the year
Cash & cash equivalents at beginning of the financial year
93,446
(115,702)
461,097
345,395
Cash & cash equivalents at the end of the financial year
438,841
345,395
The notes on pages 15 to 25 fomi part of these financial statements
Page 14

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
General information
The registered office of the charity is 26 Cadogan Square, London, England, United Kingdom the charity
number is 1175352. The principal activities of the charity are set out in the Trustees. Report. The charity
is a public benefit entity.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared with reference to the recommendations of the revised
Statement of Recommended Practice ISORPI 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 IFRS 1021. The financial
statements are prepared under Charities Act 2011.
The preparation of financial statements in compliance with FRS 102 requires the use of certain
critical accounting estimates. It also requires management to exercise judgment in applying the
entitls accounting policies.
Mellon Educate {UK} is a public benefit entity under FRS 102.
The following principal accounting policies have been applied..
2.2 Statement of Compliance
The financial statements have been prepared in accordance with FRS102 the financial reporting
standard. Mellon Educate IUKI is a charity, their registered office is 26 Cadogan Square, London,
SW1X OJP.
2.3 Going Concern
The Trustees believe that the charity has adequate financial resources lo continue in operation for
the foreseeable future and accordingly the annual financial statements have been prepared on a
going concern basis. Management has assessed the companls ability to continue as a going
concern for the foreseeable future and is not aware of any factors beyond their period of assessment
that may cast doubl on the companls ability lo continue as a going concern. Management thus
considers the use of the going concern principle to be appropriate in the preparation of the annual
financial statements. The trustees have satisfied themselves that the company is in a sound
financial position and that it has access to sufficient ongoing fundraising activities together with
reserve facilities to meet its foreseeable cash requirements. The trustees are also not aware of any
material non-compliance with statutory or regulatory requirements or of any pending changes lo
legislation, which may affect the company.
2.4 Restricted Funds
Restricted funds are funds received which can only be used for particular purposes specified by the
donors and are binding on the Charity. Such purposes are within the overall aims of the Charity.
2.5 Unrestricted Funds
Unrestricted funds are those which are expendable at the discretion of the entity in furtherance of
the objects of the Charity.
Page 15

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
A￿OUntIng policies (continued)
2.6 Incoming Resources
All incoming resources are included in the Statement of Financial Activities when the entity is entitled
to the income and the amount can be measured with reasonable accuracy and is probable. The
following specific policies are applied to particular categories of income..
Donations: Fundraising income is credited to the Statement of Financial Activities in the year in
which il is receivable by the Charity.
Volunteer Income.. Donations raised by volunteers are tsken into account at the lime of receipt.
Legacies: Income from legacies is recognised when receipt is probable. Legacy income is
recognised when there has been a grant of probate, the executors have estsblished that there are
sufficient assets in the estate, after paying liabilities lo pay the legacy, and any conditions attached lo
the legacy have been mel.
2.7 Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred and is recorded as part of the
expenditure to which it relates.
Expenditure on charitable activities comprise grants paid by the Charity in the delivery of its services
for its beneficiaries.
Governance costs indude those costs associated with meeting the conslilulional and slatulory
requirements of the Charity. Where costs cannot be directly allributed, they have been allocated in
proportion lo estimated benefits re￿ived.
All expenditure is inclusive of irrecoverable VAT.
2.8 Reserves Policy
Unrestricted reserves indicate the resour￿$ on which the charity can draw upon to continue ils work
in the event of a downturn in income. The Directors have sel the required reserves policy at £30,000
of unreslricled funds and this is assessed on a year to year basis based on the charity's forecast for
the following 12 months of activity.
2.9 Tangible fixed assets and depreciation
Tangible fixed assets Currently in use in furtherance of the charills objectives are staled in the
balan￿ sheet at cost less accumulated depreciation. Depreciation is provided on tangible assets, so
as to write off the cost less estimated residual value of each asset over its expected useful economic
life on a straight line basis at the following annual rates..
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following basis..
Computer equipment
25,/0 per annum
Gains and losses on disposals are detemiined by comparing the prO￿edS with the carrying amount
and are recognised in the Statement of Financial Aclivilies.
Page 16

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
A￿OUntIng policies (continued)
2.10 Debtors
Short temi debtors are measured al transaction price, less any impairment
2.11 Cash at bank and in hand
Cash is represented by cash in hand and deposits with financial institutions repayable without
penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that
mature in no more than three months from the dale of acquisition and that are readily convertible lo
known amounts of cash with insignificant risk of change in value.
2.12 Creditors
Short temi creditors are measured at the transaction price.
2.13 Financial instruments
The Charity only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like related party re￿ivableS and other payables. Basic financial
instruments are recorded at transaction pri￿.
Judgments in Applying Accounting Policies and Key Sources of Estimation Uncertainty
The preparation of financial statements in confomiity with FRS 102 requires management lo make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of
conlingenl assets and liabilities at the dale of the financial statements.
The Trustees do not have any significant accounting estimates and assumptions which they consider lo
be critical awounting estimates and judgments.
Page 17

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statoments
For the year ended 31 December 2024
Income from Donations and charitable activities
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Volunteer income la}
Donations Ibl
413,312
92,523
413.312
121.334
28,811
28,811
505,835
534.646
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Volunteer income la}
Donations Ibl
312,735
204,509
312,735
295,028
90,519
90.519
517,244
607, 763
al Volunteer income raised by individuals and companies in support of the building blitz held in Cape
Town.
bl Donation income received from individuals and companies. This includes the income from the Golf
Day and Cycle Ride fundraising events and for the literacy programme.
Page 18

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
Expenditure on Raising Funds
Unrestricted
funds
2024
Total
funds
2024
General expenses
130,464
130.464
130,464
130,464
Unrestricted
funds
2023
Total
funds
2023
General expenses
147,937
147,937
147,937
147,937
Expenditure on raising funds includes the cost of,. materials for campaigns and events,. plus allocated
support costs. Included in general expense is salaries, hosting a fundraising Golf Day event of £24,840
(2023 £54,298) and general office expenses of £12,287 (2023 - £20,250). Other office costs include
professional fees. audit fees, insurance and telephone.
Expenditure on Charitable Activities
Restrlcted Unestrlcted
funds
funds
2024
2024
Total
funds
2024
Grant lo Mellon Housing Initiative
349,700
41,272
390.972
RestriGted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Grant lo Mellon Housing Initiative
300,000
74,857
374,857
The charity supports Mellon Educate Ireland and Mellon Educate (South Africa) in their objective lo build
quality facilities and lo train teachers.
Page 19

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
Support Costs and Allocation of Expenditure
Support costs
Total costs have been allocated as below.
Support
costs
2024
Total
funds
2024
Direct costs
2024
Allocation of expenditure
Charitable expenditure
Cost of generating funds
390,972
120,728
390.972
130,464
9,736
Total resources expended
511,700
9,736
521.436
Support
costs
Total
funds
2023
Direct costs
2023
2023
Charitable expenditure
Cost of generating funds
374,857
13T,295
374,857
147,937
10,642
51 2, f 52
10,642
522, 794
Net Income
Nel income is ststed after ¢hargingllcreditingl'.
2024
2023
Auditors, remuneration
9,256
1311
10,738
(244)
Foreign exchange
9,225
9,894
External audit costs are borne by the Irish entity, Mellon Township Limited. In 2023, a portion of the audit
fee was recharged lo Mellon Educate {UKI. Mellon Township Limited is a related party due lo a Director
of Mellon Township Limited also being a Trustee of Mellon Educate IUKI.
Page 20

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
Employees and staff costs
2024
2023
Wages and salaries
Social security costs
Contribution lo defined contribution pension schemes
68,659
7,025
2,300
60,000
7,577
2,166
77,984
69, 743
The average number of persons employed by the charity during the year was as follows..
2024
No.
2023
No.
Average number of people employed
The number of employees whose employee benefits {excluding employer pension costs) exceeded
£60,000 was..
2024
No.
2023
No.
In the band £60,000 - £70,000
There was no remuneration paid to key management during the year. Key management refers to the
Trustees of the Charity.
Trustees do not receive remuneration for their services as Trustees. Trustees are entided to
reimbursement of vouched expenses incurred in the performance of their duties as a Trustee. The
amount charged in 2024 was £NIL (2023- £NILJ.
10.
Grant Expenditure
There were no grants paid lo Mellon Township Limited (2023 £NILI and there were grants paid lo
Mellon Housing Initiative amounting to £390,972 (2023 - £374,857) a South African non for profit
organisalion, in 2024 to assist with the Building Blitz and Education Programmes in South Africa. The
grant paid lo Mellon Educate (South Africa) amounting lo £390,972, was fLJnding received by Mellon
Educate by a Volunteer and Donor Funds lo fund the building of classrooms and funding literacy
programme for a period of 3 years in South Africa.
Page 21

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
11.
Tangible fixed assets
Computer
equipment
Total
Cost or valuation
At 1 January 2024
1,102
1,102
At 31 December 2024
1,102
1,102
Depreciation
At 1 January 2024
1,102
1,102
At 31 December 2024
1,102
1,102
Net book value
At 31 December 2024
At 31 December 2023
12.
Debtors- Amounts falling due within one year
2024
2023
Other debtors
100
700
All debtors are due within one year.
13. Cash & Cash Equivalents
2024
2023
Bank and cash balances
438,841
345,395
438,841
345,395
Page 22

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
14.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Amounts owed to related parties
Other taxation and social security
Accruals
4,052
32,500
1,931
10,183
18
93,436
1,805
33,561
128,802
48,666
Tax and social Insuran￿ are subject to the terms of the relevant legislation. Interest accrues on late
payments al a rate of 2.75 /0 per year. No interest was due al the financial year end dale.
Other amounts inclLJded with creditors not covered by specific note disclosures are unsecured, interest
free and repayable on demand.
15. Taxation
Mellon Educate IUKI is a registered charity and therefore, is not liable to income lax or corporation lax on
income derived from its charitable aclivilies, as il falls within the various exemptions available lo
registered charities. The Charity's HMRC charity tax reference number is EW90176.
Page 23

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
16.
Movement in Funds
At start of
year
2024
Incoming
resources
2024
Outgoing
resources
2024
Total
funds
2024
Reslricled Funds
Unreslricled Funds
19,846
276,983
28,811
505,835
141,272}
1480,164)
7.385
302.654
Total 2024
296,829
534,646
1521,436}
310.039
At start of
year
2023
Incoming
Resource
Outgoing
Resource
Total
funds
2023
2023
2023
Restricted Funds
4,784
207,676
90,519
51T,244
(74,867)
(447,937)
79,846
276,983
Unreslricled Funds
Tot812023
211,860
607, 763
(522,794)
296,829
Analysis of Net Assets
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Fixed assets
Current assets
Creditors.. AmoLJnts falling due within one financial year
7,385
431,456
438.841
1128,802} {128,802)
Total 2024
7,385
302,654
310.039
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Fixed assets
Current assets
19,846
325,649
(48,666)
345,495
(48,666)
Creditors.. Amounts falling due within one financial year
Total 2023
19,846
276,983
296,829
Page 24

Mellon Educate (UK)
la foundation charitable incorporated organisation ICIO))
Notes to the Financial Statements
For the year ended 31 December 2024
17.
Financial instruments
2024
2023
Financial assets at amortised cost
Cash at bank and in hand
438,841
345,495
2024
2023
Flnanclal Ilabllltles at amortlsed cost
Trade creditors
Amounts owed to related parties
4,052
32,500
93,436
93,436
36,552
18. Related party transactions
Mellon Township Limited
Mellon Township Limited is a related party by virtue of a Trustee of Mellon Township Limited also being a
Trustee of Mellon Educate {UK). During the year the Charity paid no grants £NIL (2023 - £NILI to Mellon
Township Limited. There is balance owed to Mellon Township Limited of £13,436 al year end (2023
£32,500).
Mellon Educate {South Africa)
Mellon Educate (South Africa) is a related party by virtue of a Trustee of Mellon Educate {South Africa)
also being a Trustee of Mellon Educate IUK). During the year the Charity awarded grants of £390,972
(2023 - £374,857) to Mellon Educate (South Africa). There is balance owed lo Mellon Housing Initiative of
£80,000 at year end (2023- £NIL).
19.
Pensions
The company oper8les a defined contribution scheme for employees. The assets of the scheme are held
separately from those of the company in an independently administered fund. The defined contribution
charge for the financial year was £2,300 (2023- £2, 166). The amount due at financial year end was £NIL
(2023- £NIL)
20.
Capital Commitments
The Charity had no capitsl commitments at the financial year end (2023- £NILI.
21.
Contingent Liabilities
The Charity had no conlingenl liabilities al the financial year end (2023- £NIL}.
22. Approval of financial statements
The financial statements were approved and authorised for issue by the Trustees on 1 October 2025
Page 25