Mosllik
ANNUAL REPORT
2023
## ABOUT MOSAIK EDUCATION
## OUR VISION
Refugees, asylum seekers, displaced people and conflict-affected communities are able to access, shape and lead the education they require for rebuilding their societies or for integration and success in new ones.
## OUR MISSION
To empower a community of refugees and civil society organisations to shape and lead programmes that support refugees in accessing university.
## OUR VALUES
- Empowering: especially communities affected by conflict and displacement to participate in the design and delivery of our programmes, acknowledging that resilience is best achieved by building community capacity.
- Inclusive: striving to create opportunities for those who are most disadvantaged and marginalised.
- Collaborative: incorporating others' ideas and sharing our own, acknowledging that they are improved through modification and reinvention by others.
- Learning: Always looking to reflect, seek feedback and improve what we do and how we work alongside the beneficiaries of our programmes.
## OUR ACTIVITIES
Mosaik supports refugees to reach university through guidance and language programmes that are designed with refugees; using technology to ensure accessibility; and working with local organisations in Jordan, Lebanon, Uganda and the UK to facilitate access for young refugees. Today, just seven percent of refugees globally have access to tertiary education, compared to 42 percent of global youth. This limits their opportunities to find work, become self-reliant, integrate in host communities and, ultimately, to fulfil their aspirations.
1
## INTRODUCTION FROM THE CHAIR OF TRUSTEES
## VICTORIA COLLIS **Chair of Trustees**
As incoming Chair of Trustees, it gives me great pleasure to present Mosaik Education’s annual report for 2023.
Our work focuses on removing barriers to tertiary education faced by refugees. As the number of displaced people in the world increases, this purpose becomes ever more important for the future of host and home states as well as for individuals seeking to fulfil their educational, professional and human potential.
In the past year, Mosaik expanded its programming geographically, with new projects underway in Uganda and the UK. We also started to experiment with the significant scaling potential of digital
technologies, offering the flagship guidance programme asynchronously, using AI and WhatsApp. UNHCR projects there will be 130.8 million displaced people in the world in 2024. A continued focus on scale and reach will therefore be crucial.
We also took the opportunity throughout 2023 to build on our principle of ensuring the majority of our work is refugee-led. We drafted a set of equity based design standards that we are applying across our work. We continue to look for ways to make our operations more progressive, and remain committed to strengthening meaningful participation and refugee leadership in our own work and that of the sector.
Our third focus for 2023 was governance. We recruited four new board members, including me, to build our capacity. These appointments strengthened our expertise and networks in humanitarian and development sectors as we plan for 2024 and beyond. I would like to thank our outgoing chair, Frances Guy, for her excellent stewardship over the last six years.
Mosaik Education would not be able to deliver without the unwavering support and commitment of funders and partners, staff and volunteers. I am extremely grateful to every organisation and individual that is part of our community, and look forward to working with you in the coming years. Thank you on behalf of all the Trustees.
Victoria Collis
Chair, Board of Trustees
2
## ACTIVITIES & ACHIEVEMENTS IN 2023
- Expanding our Guidance programme to reach 1624 young refugees and host community members from 769 in 2022, and expanding the countries in which we work to include Uganda and the UK, on top of Jordan, Lebanon and Turkey.
- Developing and piloting a new English teacher training programme which supports inexperienced teachers to integrate more dialogue-driven methods of language teaching with two cohorts across Jordan and Lebanon.
- Innovating with our delivery model to blended, remote, and webinar versions of our guidance programme. A self study version using AI was launched which increased access to reach 576 new learners.
- Doubling the number of independent facilitators we are working with. In 2023, of the total 44 facilitators from Jordan, Lebanon, Uganda and Turkey, 24 are independent.
3
Delivering real impact for young refugees through our programmes: 66% of participants had used skills from our Guidance Programmes within six weeks of completing them; 37% had offers or had enrolled in a tertiary education within six months.
- Starting new partnerships with Bluemont in Zaatari to expand our programmes and test new scalable delivery models.
- Embedding progressive operational models at Mosaik, starting with the drafting of Equity Based Design standards that can be applied to all Mosaik activities in the future.
- Starting a new collaborative project with Cormack Consultancy Group that creates new higher education opportunities for students affected by conflict in Ukraine through innovative UK-Ukraine higher education partnerships, a model that we plan to replicate in other regions.
- Increasing our income to £700k+ for 2023 from less than £200k in 2022, and diversifying the number of grant funders and funding sources.
- Adding four new members to our Board of Trustees strengthening Mosaik governance by boosting capacity in safeguarding as well as expertise in refugee support in the UK, education in emergencies, business development and fundraising, and lived experience of displacement.
4
## EXPANDING AND IMPROVING OUR PROGRAMMES
## GUIDANCE PROGRAMME
In 2023, the Guidance Programme underwent significant expansion, both in geographical scope and modes of delivery. The programme reached 1624 young refugees and host community members compared to the 769 in 2022. The programme expanded to Uganda, where we trained five facilitators and co-facilitators, and engaged 86 learners. In 2023, for the first time, the Guidance Programme was offered entirely asynchronously to accommodate learners who are harder to reach, utilising a WhatsApp-based course. This course was initially piloted by youth who provided validation of our delivery method and content through their feedback. This new self-study format successfully trained 10 guides and engaged 576 learners.
Additionally, in Lebanon and Jordan, the synchronous modality of the programme trained 43 facilitators and reached 1048 learners through youth refugee-designed webinars focused on peer-to-peer access to higher education support.
Furthermore, we conducted a comprehensive content review of the Guidance Programme that focused on integrating stories from programme learners and facilitators, digital visuals, and building the programme in English to be available to English speakers.
5
## ENGLISH PROGRAMME
In 2023, we developed the Mosaik English Teacher Training (METT) to support the use of our existing English language learning tools and resources. The purpose of METT is to enable community teachers to competently and confidently teach English to refugees, with a view to maintain a student centric, communicative approach at the core, while also moving students measurably towards their real world goals. The Mosaik English team worked with various consultants and volunteers including Scott Thornbury, Adrian Doff, and previous Mosaik English Teacher, Batoul Outhman, to develop the content.
In the Autumn of 2023, METT was delivered to two pilot cohorts with Teachers located across Jordan and Lebanon. The delivery was a mix of live Zoom sessions with a Mosaik facilitator alongside self-study time on Moodle and WhatsApp. 11 students completed the course and 90% (Cohort 1) and 100% (Cohort 2) of participants felt more confident in using Mosaik Resources. Additionally, 70% (Cohort 1) and 100% (Cohort 2) of cohort participants felt more confident delivering learner centric lessons and 75% (Cohort 1) and 80% (Cohort 2) of cohort participants felt more confident creating structured task-based lessons.
6
## STRENGTHENING MOSAIK’S FINANCIAL BASE AND ENHANCING VISIBILITY
In 2023, we broadened Mosaik’s grant funding base, with new commitments from Elixirr and XTX Markets in addition to continued funding from the Al Tajir Trust, the Collective for Refugee Leadership in MENA, UNHCR, and TheirWorld.
Building on the new three-year strategy that was developed in 2022, we updated the strategic objectives under each goal to focus on innovation in models of partnership, operational design and governance:
7
## STRENGTHENING MOSAIK’S INTERNAL CAPACITY AND GOVERNANCE
Key to supporting Mosaik’s successful implementation of a new strategy is the capacity of the team and board to deliver it. Strengthening Mosaik’s internal capacity and governance in 2023, the Mosaik team completed its first draft of an Equity Based Design standard. This follows the previous year’s goals and training that explored how our organisation and design processes could be more equity-driven and inclusive. This standard will help the team deliver projects that are designed with young people, community-led and accountable to ourselves and the community. The standards can be used throughout the project delivery cycle to help with planning, running and reflecting on work. The team plans to pilot the standards in 2024. In line with this work, the Mosaik team is continuing to re-evaluate different, progressive operational models with an eye towards governance/leadership —including the possible future implementation of an Advisory Board—as well as partnerships, specifically working with partners to re-evaluate partnership-components such as reporting or funding.
In 2023 Mosaik added four new members to our Board of Trustees, including a new chair. We worked with one of our new Board members to re-draft our Theory of Change to reflect the most up to date activities and objectives of the organisation. Our revised theory of change below also highlights the ongoing conversations and work related to new operational models that transfer power to refugee-led organisations and networks and our unknown scale of impact as an organisation.
## Delivering on public benefit
In reviewing Mosaik Education’s aims and planning for future activities, the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. Our vision and mission show that Mosaik Education is committed to working with communities and technology to support refugees into higher education. Therefore refugees are our beneficiaries.
**----- Start of picture text -----**
Theory of Change
**----- End of picture text -----**
8
## FINANCIAL STATEMENT
## Financial activities
The key financial information for the year ended 31 December 2023:
**----- Start of picture text -----**
All values in £ 2023 2022
Total incoming resources: 716,118 190,978
Total outgoing resources: 600,551 201,656
Net cash inflow: 116,184 (2,852)
Unrestricted reserves: 29,185 4,791
**----- End of picture text -----**
During the year Mosaik Education’s main sources of funding were restricted grants from UNHCR Agency, Choose Love, Theirworld and Al Tajir Trust. Other sources of funding include donations from trustees, board advisors and other individuals.
## Our approach to fundraising
Our relationships with our donors are very important. Mosaik Education aims to ensure that fundraising is respectful, open, honest and accountable. We have a close relationship with individuals, foundations and organisations that support us.
All fundraising is conducted by internal contracted staff and volunteers. Mosaik Education does not use external professional fundraisers, does not employ the services of any fundraising agencies or third parties, and does not run telephone or door to door fundraising campaigns.
Mosaik Education has ensured compliance with the general data protection regulations (GDPR), and, as part of an ongoing commitment to best practice, strives to adhere to the standards set by the Fundraising Regulator and the Institute of Fundraising. During the year, there were no instances of non-compliance with the requirements of the fundraising code of practice, and no complaints have been received by Mosaik Education regarding fundraising activities.
9
## INVESTMENT POLICY
The trustees do not believe it necessary for Mosaik Education to have a formal investment policy given the nature of activities and relatively low level of cash. This position is reviewed regularly.
## RESERVES POLICY AND UNRESTRICTED FUNDS
On 31 December 2023 Mosaik had total reserves of £126,379 of which £29,185 were unrestricted (2022: £4,791). Unrestricted reserves are cash or liquid funds that can be spent on any of Mosaik's aims and do not include funding that has been restricted by the donor for a specific purpose. The trustees have considered the level of unrestricted reserves, taking into consideration current and future risks alongside the likelihood of those risks materialising. These include:
- short-term cash deficits arising from non-renewal or an unforeseen delay in restricted grant funding;
- unforeseen costs to deliver agreed project outcomes not covered by the project budget; unforeseen day-to-day operating costs; emergencies.
## RESERVES TARGET
Based on the analysis above, the trustees have set a target range for unrestricted reserves of £15,000 to £45,000. On 31 December 2023, unrestricted reserves fell within this range. Subsequent to year end Mosaik has secured additional funding, both restricted and unrestricted, to cover activities to the end of December 2024 and has a number of applications in progress to secure further funding.
10
## STRUCTURE, GOVERNANCE AND MANAGEMENT
Mosaik Education is a charitable incorporated organisation and registered as a charity on 1 February 2018.
## TRUSTEES
The trustees are responsible for establishing clear strategic goals for Mosaik Education. These goals, together with performance targets, are established annually, and the chief executive reports on them at trustee meetings. According to their skills, experience and interests, trustees take responsibility for one or more areas of activity.
## RECRUITMENT, INDUCTION AND TRAINING
Trustees annually complete a skills assessment and use this as a basis for deciding whether to recruit new additional trustees to complement the existing board’s skills and experience. Board vacancies are advertised externally. Applications are screened by fellow trustees, and short-listed applicants are invited to meet with representatives from the board and management team. On appointment, each trustee completes a register of interests, which is renewed annually.
11
## MANAGEMENT, STAFF AND VOLUNTEERS
While the trustees are responsible for establishing Mosaik Education’s strategic goals, day-to-day activities are directed by the chief executive. The chief executive is responsible for developing strategies, products, and services within overall guidelines, and implementing policies set by the trustees. They are responsible for representing Mosaik Education externally and for ensuring that Mosaik Education’s values are communicated and observed. They are also responsible for the recruitment, training, and development of staff and volunteers.
During the year ended 31 December 2023, Mosaik Education did not employ any staff. The team comprises 31 paid contractors and eight volunteers.
## SAFEGUARDING
Mosaik Education believes that all children and vulnerable adults, regardless of age, ability or disability, gender reassignment, race, religion or belief, sex or sexual orientation or socio-economic background, have the right to be protected from abuse, neglect or exploitation.
During 2023, we continued to deliver safeguarding training to the Mosaik team and partners, as well as updating our policies and capturing learning to refine our safeguarding processes and procedures. In 2023, we appointed Paul Fean to take a specific safeguarding lead at board level. Paul has been working on a ‘decision tool’ that will support the robustness of Mosaik’s safeguarding processes including the outlining of an internal investigation process.
12
## Risks
Mosaik Education has a risk management process in place to enable the trustees and the chief executive to assess the risks facing the charity, and to devise and implement strategies and controls to mitigate or address these risks. A comprehensive risk register is maintained and is reviewed regularly by the chair and by the trustees. The board considers the following to be highest risk areas:
## Financial Risk
## Mitigating Activities
Prioritise funding pipeline and look to diversify potential funding sources
Failure to secure adequate funding to plan for the next two years
Ideal reserves policies not met
Gaps in funding lead to cash flow difficulties
Grants in pipeline are delayed or cancelled
Loss on exchange rates as a result of dealing with different currencies
Failure to comply with donor imposed restrictions
Fraud or error
Non-compliance with anti terrorism legislation.
Risk-based approach to reserves where the reserves target should be a range, not an absolute number of £15-45k
CEO or Finance Advisor to provide a budget forecast at each board meeting and to review monthly management accounts with an accountant/finance advisor on board
Regular communication with grant manager and timelines on approval
Aim to receive funds and make contracts in GBP. Monitor FX rates on a monthly basis. Manage funds in USD account for planned USD expenditure
Regular review of grant agreements
Regular finance reporting to the board
Fraud policy introduced. Staff trained
If transfers required to states under bank legislation, take advice from other NGO actors
13
## Operational Risks
Unable to deliver on commitments to donors - contractually too ambitious.
Failure to secure staff that can deliver including staff turnover
Competition from similar organisations
Over reliance on one or two key staff undermines organisational sustainability
Over dependence on volunteers for critical activities
Travel of staff to areas with safety risk
Failure to document procedures and other key files
Failure to adequately back up key IT systems
Abuse of vulnerable beneficiaries
Instability forces programme to stop or become irrelevant
Local cyber policies restricting use of online communication/learning technologies; creating risks for personnel and students
Team members experiencing vicarious trauma from long-term work in displacement contexts and with refugee communities
Artificial intelligence: risk of failing to respond to and leverage technological development; risk that use perpetuates inequalities or contributes to unethical outcomes
## Mitigating Activities
One trustee + finance advisor review of all project applications greater than £50000
Ensure adequate policies and funding to enable staff employment that can include on the job training and incentives
Charity senior management to regularly monitor sectors relevant to the charity's mission and conduct analysis as part of annual report on strategy
Delegate tasks more widely through the team and work on more horizontal structure with a share of responsibilities
Advertise widely and get sound legal advice
When taking on new activities ensure taking on sufficient staff. Robust induction process for volunteers and description of tasks and expectations in volunteer agreements
Staff agree to a set of security guidelines and travel insurance is taken out in all cases
Ensure back-up procedures are tasked out and are regularly reviewed
Safeguarding policy, code of conduct and reporting mechanisms in place
Develop an online option to deliver independently; keeping up to date with partners
Track political developments
Provide training to enhance awareness in team and managers
14
## REFERENCE AND ADMINISTRATIVE DETAILS
|DETAILS||
|---|---|
|Charity registration number|1176947|
|Trustees & Board Advisors|Victoria Collis (Chair, appointed 14 December 2023)
Sarah Broad
Sianne Haldane
Diana Laurillard (stepped down on 6 September 2024)
Salim Salamah
Amir Raki (Board Advisor, appointed 4 August 2023)
Matthew Wingate (appointed 4 August 2023)
Paul Fean (appointed 4 August 2023)
Frances Guy (stepped down on 31 December 2023)|
|Chief executive|Ben Webster|
|Registered office|Hatch Peckham, Peckham Levels, 95A Rye Lane,
London SE15 4ST|
|Bankers|Barclays Bank plc Leicester, LE87 2BB|
15
## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MOSAIK EDUCATION
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2023 which are set out on pages 16 to 26.
## RESPONSIBILITIES AND BASIS OF REPORT
As the charity trustees of Mosaik Education you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of Mosaik Education’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## INDEPENDENT EXAMINER’S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- a. Accounting records were not kept in respect of the Society as required by section 130 of the Act; or
- b. the accounts do not accord with those records.
- c. The accounts did not comply with the applicable requirements concerning the content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Yiwen Guan 25th June 2024 CIMA, 201 Iffley Road, Oxford, UK
16
## (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
For the year ended 31 December 2023
**----- Start of picture text -----**
Unrestricted Restricted 2023 2022
Notes Funds Funds Total Total
Income from £ £ £ £
Donations and legacies 2 27,222 27,222 23,090
Charitable activities 3 - 688,896 688,896 167,888
Other income - - - -
Total income 27,222 688,896 716,118 190,978
Expenditure on
Raising funds 92 10,450 10,542 8,000
Charitable activities 2,736 587,273 590,009 193,656
Total expenditure 4 2,828 597,723 600,551 201,656
Net income /(expenditure) for the
24,394 91,173 115,567 (10,678)
year
Balance brought forward at 1
4,791 6,021 10,812 21,490
January
Balance carried forward at 31 Dec 29,185 97,194 126,379 10,812
**----- End of picture text -----**
All of the above results are derived from continuing activities; all gains and losses recognised in the year are included above. Movements in funds are disclosed in notes 10 and 11 to the financial statements.
17
## MOSAIK EDUCATION BALANCE SHEET
As at 31 December 2023
**----- Start of picture text -----**
£ £
2023 2022
Cash 131,667 15,483
Debtors - -
Accrued income 1,656 50
Prepayments 517 376
Current assets 133,840 15,909
Creditors (1) 4,488
Deferred income - -
Bank loan - -
Accruals 7,462 609
Current liabilities 7,461 5,097
Net current assets 126,379 10,812
Non-current liabilities - -
Net assets 126,379 10,812
Funds
General funds 29,185 4,791
Restricted funds 97,194 6,021
Total funds 126,379 10,812
Funds
Surplus b/f 10,812 21,490
Surplus current year 115,567 (10,678)
Total funds 126,379 10,812
**----- End of picture text -----**
The financial statements were approved by the Trustees on 21 July 2024 and signed on their behalf by:
Victoria Collis, Chair
18
## MOSAIK EDUCATION CASH FLOW STATEMENT
For the year ended 31 December 2023
**----- Start of picture text -----**
£ £
2023 2022
Net income 115,567 (10,678)
Adjustments for:Non-cash activities: conversion of loan to donation Interest income - -
(Increase)/Decrease in debtors (1,747) 8,176
(Decrease)/Increase in creditors 2,364 2,650
Net cash provided by operating activities 116,184 148
- -
Cash flow from investing activities
Investment income—bank interest - -
- -
Net cash provided by investing activities
Cash flow from financing activities
Interest free loan - (3,000)
-
Net cash provided by financing activities (3,000)
Change in cash and cash equivalents in the year 116,184 (2,852)
Cash and cash equivalents at the beginning of the year 15,483 18,335
Cash and cash equivalents at the end of the year 131,667 15,483
**----- End of picture text -----**
19
## MOSAIK EDUCATION NOTES FORMING PART OF THE FINANCIAL STATEMENTS
## For the year ended 31 December 2023
## 1. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are material in relation to the financial statements.
## **a) Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)—(Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (January 2019) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the trustees have considered the charity’s forecasts and projections and have taken account of pressures on donations and grant income. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## **b) Public benefit entity**
In reviewing Mosaik Education’s aims and planning future activities, the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. Our vision and mission show that Mosaik Education is committed to working with communities and technology to support refugees into higher education. Our beneficiaries are therefore refugees.
20
All our activities contribute to our strategic aims and are for the benefit of the public. This report has set out Mosaik Education’s activities and achievements and illustrates how they benefit refugees. The charity meets the definition of a public benefit entity under FRS 102.
## **c) Income**
All income is included in the statement of financial activities (SOFA) when it is probable that the income will be received and the amount can be quantified with reasonable accuracy.
- Donations are recognised when received.
- Gifts are taken into account on a receivable basis, but only when capable of exact financial measurement.
- Restricted grants are recognised as income when they become receivable. Where unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions, the income is deferred.
## **d) Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Expenditure is allocated to the particular activity where the cost relates directly to that activity, along with any associated irrecoverable VAT.
## **e) Expenditure on raising funds**
Expenditure on funds relate to the costs incurred by the charitable company in developing relationships with third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.
## **f) Fund accounting**
Funds held by the charity are either restricted or unrestricted.
- Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
- Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
21
## **g) Taxation**
The charity is exempt from taxation on its charitable activities.
## **h) Financial instruments**
Financial assets, such as cash and debtors, are measured at their present value of the amounts receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities, such as trade creditors, loans and finance leases, are measured at the present value of the obligation. An equity instrument is any contract that evidences a residual interest in the assets of Mosaik Education after deducting all of its liabilities.
## **i) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **j) Cash**
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **k) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method.
## **l) Foreign currency**
The charity’s functional and presentation currency is pounds sterling. Foreign currency transactions are translated at the spot rate of exchange on the date of the transaction. Foreign currency balances are translated at the spot rate of exchange on the balance sheet date. Any gain or loss arising is charged to the SOFA.
22
## **m) Judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **n) Statutory information**
Mosaik Education is a charitable incorporated organisation. The registered office address is Hatch Peckham, Peckham Levels, 95A Rye Lane, London SE15 4ST.
## 2. DONATIONS AND LEGACIES
**----- Start of picture text -----**
£ £
2023 2022
Donations from or on behalf of trustees - 842
Other donations 27,222 22,248
Total donations and legacies 27,222 23,090
**----- End of picture text -----**
All income from donations and legacies was unrestricted.
## 3. RESTRICTED REVENUE
**----- Start of picture text -----**
£ £
2023 2022
Open University - 976
Al Tajir 5.000 2,000
- -
University of Reading
- -
Programming Activities Employee Donation
Choose Love 54,800 61,806
Theirworld 72,500 35,000
UNHCR 91,090 68,106
XTX Markets 465,506 -
Total restricted revenue 688,896 167,888
**----- End of picture text -----**
23
## 4. EXPENDITURE
**----- Start of picture text -----**
Cost of Charitable 2023 2022 2021
raising funds activities Total Total Total
£ £ £ £ £
Direct programme costs
Contracted staff 10,542 103,970 114,512 98,384 35,473
Travel & subsistence - 3,676 3,676 4,829 969
Local co-designfacilitation - - - - -
-
Programme delivery cost 398,590 398,590 63,088 6,738
Other direct costs - 57,880 57,880 2,995 1,086
Governance
Contracted staff - 4,180 4,180 - 1,000
Audit fees - - - - -
Trustee recruitment - - - - -
Support costs
Contracted staff - 4,660 4,660 16,133 18,662
Travel & subsistence - 4,129 4,129 5,131 240
Office costs - 1,339 1,339 463 242
Website & IT - 3,790 3,790 2,515 2,281
Insurance - 1,848 1,848 1,911 1,238
Professional Fees - 5,805 5,805 6,132 15
Foreign exchange - 142 142 75 291
(gain)/loss
Total expenditure 10,542 590,009 600,551 201,656 68,235
**----- End of picture text -----**
24
## 5. TRUSTEES’ REMUNERATION AND EXPENSES
The trustees neither received nor waived any emoluments during the year and no expenses were reimbursed to trustees.
## 6. STAFF COSTS
Mosaik Education did not employ any staff during the year. The charity engaged 31 paid contractors to provide professional services. The total fee paid to these individuals was £114,512 (2022: £98,384).
## 7. RELATED PARTY TRANSACTIONS
During the year Mosaik Education received the following from related parties:
**----- Start of picture text -----**
£ £
Relationship 2023 2022
Donations from trustees - 842
- -
Donations from Board Advisors and paid contractors
- -
Interest free loan from trustees and paid contractors
8. DEBTORS AND PREPAYMENTS
£ £
2023 2022
Prepayments 517 376
Gift aid receivable - -
Grant receivable - -
Donations receivable 1,656 50
Total 2,173 426
9. CREDITORS
£ £
Amounts falling due within one year 2023 2022
Trade creditors -1 4,488
Bank Loan - -
Accruals 7,462 609
Total 7,461 5,097
**----- End of picture text -----**
25
## 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
**----- Start of picture text -----**
Fund balances at 31 December 2023 Unrestricted Funds Restricted Funds Total
are represented by: £ £ £
Current assets 42,667 91,173 133,840
Current liabilities (7,461) - (7, 461)
Non-current liabilities - - -
Total net assets 35,206 91,173 126,379
Fund balances at 31 December 2022 Unrestricted Funds Restricted Funds Total
are represented by: £ £ £
Current assets 9,889 6,021 15,910
Current liabilities (5,097) - (5,097)
Non-current liabilities - - -
Total net assets 4,791 6,021 10,812
**----- End of picture text -----**
## 11. RESTRICTED & UNRESTRICTED FUNDS
The funds of the charity include restricted funds. These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
**----- Start of picture text -----**
Foreign
At the start of exchange gain / At the end of
Fund balances at 31 December 2023 the year Income Expenditure (loss) the year
are represented by: £ £ £ £ £
Restricted Funds 6,021 688,896 (597,723) - 97,194
Unrestricted Funds 4,791 27,222 (2,686) (142) 29,185
Total Funds 10,812 716,118 (600,409) (142) 126,379
Foreign
At the start of exchange gain / At the end of
Fund balances at 31 December 2022 the year Income Expenditure (loss) the year
are represented by: £ £ £ £ £
Restricted Funds - 167,888 (161,867) - 6,021
Unrestricted Funds 21,490 23,090 (39,714) (75) 4,791
Total Funds 21,490 190,978 (201,580) (75) 10,812
**----- End of picture text -----**
## 12. FINANCIAL COMMITMENTS
As at 31 December 2023 Mosaik Education was not committed to making any payments under non-cancellable operating leases.
## 13. POST BALANCE SHEET EVENTS
Since the end of 2023, Mosaik has signed new grants agreements with UNHCR, Charities Aid Foundation and XTX Markets.
26
Report and Financial Statements for the year ended 31 December 2023 Registered Charity Number: 1176947
Email: hello@mosaik.ngo Website: www.mosaik.ngo
Address: Hatch Peckham, Peckham Levels, 95A Rye Lane, London SE15 4ST