Annual Report & Statement of Accounts
For 1st April 2024 to 31st March 2025 {FY25)
THE TESFA SPONSORSHIP TRUST UK
Charity Registration No 1177205
World Elderly Day celebrafion at AHISDO
Paul s stopover in Addis vi¥it 10 the Kindetgarten within CBISDQ s community
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The Youth Centre nlrt by CBISDO hosis one ofthe Afrkan Dream Circw Iralning ceniers- as well as
theprofusional teams ITaining there, Ikey offer ctrcus 5kn115 Iraining to ihe 5POnsored children and ¢he
¢omm¥nity Iwice a week
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The Tesfa Sponsorship Trust UK
Annual Report & Statement of Accounts
For 1st April 2024 to 31st March 2025
Contents
Administrative Inforniatlon
Page 4
Ind•pond•nt Examiners Report
Page 5
Trustees Report
Page 6-9
Summary of Recelpts and Payments
Page 10
Statement of Assets & Llabllltles
Page11
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The Tesfa Sponsorship Trust UK
Administrative information
Charlty Number
1177205
Trustees
Benjamin Booth
Lucy Booth (appointed 301h April 20251
Simon Paylor lunlil 30th April 20251
Paul Wilson Ire-elected as Chair 5th March 20251
Govoming Instrument
Trust Deed dated 12th December 2016
Objoctlves
The prevention or relief of poverty in Addis Ababa, Ethiopia by providing.. grants, items and
services lo individuals in need andlor charities, or other organisation5 working to prevent or
relleve povety-
Correspondence Address
3 Bryant Way
Toddinglon
Bedfordshire
LU5 6EX
Prfmary Bankers
Natwesl Bank
4 High Street Ni)rth
Dunslable
LU6 1JU
Independent Examlner
Mrs Hannah Clack
144 Kings Road
Eve5ham
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The Tesfa Sponsorship Trust UK
Independent Examiners Report on the Accounts
Independent Examlners Report on the Accounts
l to ihe IT￿41ee$ on my examinailon ofTh¢'fESFA Sponsor5hip'lhJsi
UK {"the Th￿t") for the year endd 3151 March 2023
RupowlbSlltleJ •Dd b*il8 As the chwity truste# of the Trust. YOU aTe TespoA)sible for the prep&rntion of
of report the a¢¢ounts in ￿e0rdance with the requir¢ments of the Clwities Act 2011
r'th¢ Act").
I ttp)rt in ryl of my exhminBtion of the Trust's ac¢ounts conied out
Ider se¢tion 145 of th¢ 2011 A¢1 8nd in ¢oJrying out my ¢x&mination I hm
followed the applicabl¢ Directions given by th¢ Charity Conunission unthr
section 145151(b) of the A¢1.
IBdtpeudent
The PTocedure5 undertaken do not provide all the evidence that would be
rquired in an audit. and thcrefoK as an Jndepend¢nt ExoJDineT l am not
providing an Budil OPII)IDn.
I have completed my examimiion. I confTh that no material m&ttern have
come io my attention in connection with th¢ ¢xamination wbich 8iv¢s Ine
ause to believe that in, any materi0] respect..
ac¢ounttng recotds were kept in attordarK¢ wiib seclion 130 of
thc2011 Ad. or
the accounts do ]h)l accord with tk a¢counlin8 records
I have no concerns and have come across no oiher matters in conne¢iion with
th¢ examination to which attention should k drm in Order to enable a
proper understgndinB Of the aecounts lo reached.
SlgDed:
D#l¢:
16.01.25
Nwe:
Hannah Cl
. R￿¢V￿1 P￿f￿￿onI1
qthdon(s) or body
(If •Ry):
Student Dxmber of ACCA
144 Krys Road, EVe8h￿n.
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The Tesfa Sponsorship Trust UK
Trustees Report
For 1st April 2024 to 31st March 2025
Introductlon
These accounts detail the period 1 $1 April 2024 10 315t March 2025.
For lax purposes the charity is a registered charity and is known as..
The Tesfa Sponsorship Trust UK {hereaft8r"Tesfa'l. Charity Number 1177205
Achlevemants In tho Flnanclal year
The Trust continues to Iwe out ils objectlV8s by f8cilitating the sponsorship of children ?nd
elderlyp8opI8 tlprough our Éwo partner Eth￿pIan NGOS. CBISDO and AHISDO.
Al the end of FY25, the number of children being sponsored through Te3fa was 146 along wllh
20 elderly persons. We remain hugely grateful for the continued commitment of our sponsors
and supporters by investing in the lives of the children and elderly In the communltles we
support Sn Addis Ababa. Ethiopia. Their ongoing and urwaverlng support 15 a lesllmony lo the
commllmenl of our supporter ba8e and thelr belief in how much of a drff8r8n¢e sponsorship can
make lo the lives and futures of those In most need.
pon8orshlp funds of £28.891 and addltional gffts of £8.547 were Sent lo our two partners In
Addis Ababa. 8UPPOrting their work as follows..
CBISDO (Communlly Based Integrated Sustainable Development Organisalionl at
the close of FY25, 127 children and 18 elderly people were belng sponSo￿d by our
supporters - unchanged from the end of FY24.
AHISDO (Addis Hiwot Inlegraled Sustainable Development Ofganlsalionl- at the close
of FY25, 18 children and 4 elderly people were baing sponsored by our supporters
(down from 19 children in FY241.
The extra gifts induded..
£4,925 to support the eldedy sponsor program at CBISDO from the Kunde
Foundation, being a charitable trust set up by a close friend of the late foundér
of CBISDO and AHISDO with very similar mission to that of Tesfa
their
donatlon 1$ routed through Te$fa and we provide a monitoring servic8 for a
nominal fee.
£700 10 sUPPOrt the child & elderly sponsorship programme al CBISDO - in
response to CBISDO'S ongoing Challenge with food price inflation, Tesfa
presented the opportunity for spon¥or5 to voluntarily increase their monthly
giving from the core £15pm pm wilh any additional funds used lo support the
Sponsorship programme
we have lagged this as 'Sponsorship Plus,. We
remain ever grateful lo have so many generous supporters who remain
committed to supporting the needs of those in most need in the community.
A grant of £2.0501o fund the mandatory Strategic Review process for CBISOO
Tesfa's consullanl, Tadesse Haile. managed the process and hired an In-
country management consultant {Ihe same person who undertook the NGO
management Ir8ining in FY241. The Strategic Review enabled the Board and
Management to review CBISDO'S strategy and direction for the next 5-year
period. This report was required both internally and also for the Ethiopian
Government agencies when applying for the necessary licences to
operate. The next stage is for the CBISDO Management team lo build an
action plan lo deliver on the outcome of the Strategic Review.
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Financlal Summary
Rocelpts
Sponsorship receipts have decreased reflecting a full year of income al the lower level of 146
children and 20 elderly which reduced from 162 childrenl 20 eldedy during FY24.
We continue to enjoy having so many loyal supporters who value the opportunity to invest In
the lives of children and elderly through sponsorship and p18n lo develop a recrurf(menl drive
in FY26127 to build back up the numbers of sponsors.
The majority of income is received by standing order directly from the indlvidual. Sponsorship
funds 8re Irealed as 'Reslricted Funds, and 1 OOOA of those funds are remilled lo the NGOS for
the purpose of supportlng the Sponsorshlp programmes.
In addlllon lo the gfft-aid received from those sponsorship payments, we also receive one-off
donations which are Irealed as unrestricted funds unless the donor expressly states the funds
are donated for a specific purpose.
Of the £15,613.90 cash balance al the financial year gnd, 'Reslrfcted Res8rv8s' represented
650A of the cash1£10,148.931 being split as follows:
£3,654.87 of Child and Eldedy sponsor fund5 building up for thè néxt sem8sler
8ponsorship payment (due in August 20251.
£2.509.87 of Seed Capital remalning from a 5UPPOrter glft- there Is a regular agenda
item al Trustee meetings lo identify if there is an appropriate opportunity to invest Ihls
fund in fijrthering the work of Tesfa.
£3,984,19 of gifts received speclflcally for the NGOs1Sncludes a £800 tOFFUP gift frorn
the Kunde Foundation for the elderly programmel.
£2,711.19 of funds ring-fenced for the training inslilule BSDTCC founded by the late
Dr Jember Teferra (the founder of our partner8 CBISDO and AHISDO).
Unreslrlcled funds will be inve51ed in two main area8'.
1. To ansure Tesfa is fvlly compliant wlh the Charity Commlssion for England & Wale8
regulations and best practices., and
2. The effective monitoring & evaluation {M&EI of the charitab18 partners with whom Tesfa
has a formal partnership
urrenlly C81SDO and AHISDO. This will be achieved
through both the commlsslonlng of our ¢on$ultanl in Addis Ababa, Tadesse Haile, who
reports to Te8fa periodically Icurrenlly every 4 months) and an annual monitoring vis11
by al least one Trustee of Tesfa whenever posslble. It 1$ the Trustees, intention lo use
the locally based Consultant lo greater effect being seen as the most effective and Go¥l-
effecllve method of the required M&E.
PJym•nts
Operational costs slightly increased lo £3,967.53 being 9.31Vo of total income {FY24 was
8.61 Vo). The increase reflected a full 12 months of the revised payment schedule paid lo the
appointed Addis Ababa consultant for ongoing Monitoring & Evaluation I'M&E'I of the iwo
NG05 with whom we partner over the full year - this revised MOU was signed Ph December
2023.
Slnce the start of FY23, any spending on NGO training through our consultant is desi9naled a5
'NGO Capacity Building, under 'Granls and Grfts. rather than Operational Costs as this reflects
more accurately the process Tesfa undergoes in its spending decisions. The M&E funds paKI
to our consultsnt is considered as mandatory (hence designated as Operational Costs)
whereas any decision on Tesfa funding training or other such items Is discretionary and falls
more logically therefore, as a 'Grant and Grft,.
Summary of Bank Account- Current Account: . XXXX2619
This account is managed by the Treasurer and is the general account. All payments from
this account are by either bank payment, direct debil or by cheqLFe all of which require tsvo
signalyres from the three signatories. all of whom are Tnjstees.
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A grft-aid application to the Inland Revenue for income lo this account is applied forannually
with such funds treated as unfeslricted.
In terms of cash management. Te$fa has two interest bearing reserve accounts=
Buslna$s R•8arv•
instant access account used for investing restricted sponsor
funds ahead of the next semester payment and unreslricled funds until needed (such
a5 the Gift Aid monies).
Llquidity Manager 35 Day- a temi savings account requiring 35 days, notice for any
withdrawal of the funds - used for investing the Se8d Capital and other reslricled funds
that are not immediately r8quired for distribution.
Monitorin
Evaluation and Ca
acit Buildin
Te8fa hugely benefits from the conllnued monitoring through our appointed Consultant based
In Addls Ababa with three reporting cycles having been completed in the financial year - Q1
2024. Q3 2024 and the annual review for 2024. This rhythm continues lo prove invaluable lo
Tesfa in being able lo galn a good level of overslghl of the work of the two NGO$ in dellverlng
the sponsorship programmes and the challenges they continue lo face - In turn, th1$ enableg
us lo demonstrate go¢)d 'value for money. In terms of the funding that Tesfa provides on behalf
of our supporters. Addillonally. 11 means Tesfa ¢an beller support CBISOO and AHISDO
through grants, sponsorshlp p8ymenls and Ihe fundlng of tailored management capaclty
buildlng.
Governance u
dates
We continue to driv8 a 'conllnuous improvement. mindset Into how w• manage the charity and
partner with the NGOS in Addis Ababa that we support and, in that ward. the following new
policles are notable achievements foT FY25'.
Reserv￿ PollGy - approved 24th September 2024 - dellver8 darlty on the mlnimum
fund$ lo be retained In the b8nk account 83 a re88rves management tool, presently
£1.500.
Flnanclal Control8 & Monltorlng Pollcy
approved 8th October 2024, the pdl¢y
provldes clarlty on key elements such as banking controls, cash management
guldellnes and definlllons concerning reslrlcled and unrestricted funds.
Confllct of Interest Pollcy- approved 51h March 2025
Chalrporson- Paul Wilson was ie-elecl8d as Chair for 2025 on the 5th M8rch 2025.
Re
ortln
A summary of the breakdown of the unreStr￿ted funds held along wllh a 12 month forward
looking view is presented at every Trustee meeting this helps drlve a regular discussion
on Tesfa's capacity lo provide further grants lo support the partners in their mission.
The accounts are examined annually by a suitably qualrfied Independent Examiner who
has the necessary knowledge and experience outside of the Gharity and this is in turn
reported lo the Tnjstees al the AGM.
A copy of the examined accounts is also provided lo the Charity Commission each year.
Formal ke
details:
Tr￿urOr
Role undertaken by Trvslee, Paul Wilson, throughoul the flnanclal period.
Independont Examlnor
The 2024125 acGounls were reviewed by..
Mrs Hannah Clack of 144 Kings Road, Evesham
Trustggs
There are currently three Trustees.. -
Page8ofll

Benjamin Booth
Simon Paylor- Simon gave notice in February 2024 of his intention to stand down and
the Trustees began a pr￿esS of recruiting a new Iruslee. Simon remained a Injstse
throughout FY25.
Paul Wilson (Chairperson)
The Tru3lee5 revlew the examined awjunts each year and submit these with the appropriate
forms to the Charity Commission. To date the Trustees have not claimed any payments for their
activities other than for either reimbursement of trip expenses whenever visiting Aédis Ababa
on a monitoring trip representing Tesfa or for sl8tioneryl administrative costs incurred in the
administration of the charity {such as the wabsita hosting feel.
Conclusion
The tnain area of dlslrlbullon of th8 donations that Tesfa receives will continue to be the
provlslon of funding for the sponsorshlp of children and eldedy people within the Kebeles Icty
dislrlGtsI where the two Ethlopian NGOS op8r8te that T88fa supports ICBISDO and AHISDO}
In Addis Ababa, Ethiopia.
We are committed lo continuing and growlng our partnershlp with CBISDO and AHISDO-
both through the sponsorship schemes and also supporting capacity building in both
organi$alion$.
Publlc B•n•fit Stat•m•nt:
In plannlng the activities the Trustees have appll8d the guklance on public benefit issued by
the Charlty Commisslon.
Trustees, Rasponslbilitles
Charfty law require8 us as TnJslee8 to prepare financial 8talement5 for each accounllng year
which record the receipts and payments of the charity for the year.
We are re8ponsible for keeplng proper accounllng ro¢ords which dlsclose with reasonable
accura¢y al any lime the finan¢ial position of the ¢harty and enable u8 to ensure that the
financial statements comply with the Charities A¢t 2011.
We also have a regF)onsibility lo safeguard the assets of the charlty and lo take reasonable
steps lo prevent fraud or any other irregularities.
Approval
Thi5 report was approved by the Irusl005 and signed on Ihelr behalf by..
Paul Wilson
Dale .
Page9ofll

The Tesfa Sponsorship Trust UK
Statement of Receipts and Payments
st
For 1 Aprll 2024 to 31st March 2025
I lknrth
16,28lQO
120
1,14Q
27.9•1(
1.12162
&11125
9,2n.
i.mc
thTatR
14B
16.199 98
13035.87
TthIP4È
32195
&547.
*1230Q
Wd
ILno.c
s￿￿1r
3P,TIiL
8J7.
J30.
MNIth&E¥qlwirn(thhrJi
2.2&1¢0
133131
SLtslr
1901.
9.31%
.24Jlll
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The Tesfa Sponsorship Trust UK
Statement of Assets & Liabilities
as at 31st March 2025
ZD24
c•
16891 4P
-2.4￿ 44
19.801 47
CkJi
81J.VJ
&38a81
&1rf8
1078 tg
S.8a2 44
to.o>oJ
Oth•r14MW
4J•&
440100
ToiiiAM•i4
21141.97
00
•.00
00
o.ou
OIIMfb•
h• Mooun
Vmv¥tyttWJ ftvJ•fWv5 141
SUe99
clotsR•JtYvOS
lo b•O￿tr￿•d
81
¢KlsfN NGOI
to
1 241 00
Sq•d C
2.509 81
bSDrc¢
15,113.
16.UIA7
Notes to the accounts:
IIIIAleiOfts'indude5E4,9251'nkedioawftfromthe¥JJnde FoundJlionfortr*£ldertyproFam JlCWr0u￿dtIr0y1lTe5fab￿d£I,l&)frOThCp£D
Foundat￿ntOrsendIniIo￿lsC￿.
12IRelèle51oindibiduiI4ift5re￿1￿dfQrilebenefiiQlknber'5 InStrt￿eIb9)TCCIWithTE￿￿&￿rrf0￿lrtIe1O1tfrorn ChEknthimNetsmrkofthuth5duri
F123 olinlomwl wlle(tionaynV.
131*￿e￿I5t0r1de5&Q H3ik,In Addi5Ababab3sed(onWbnttont￿oed10W￿f0rTe5f3lhtbtWrtnit0rin(4￿d￿lu4lknn ofCBLUandAHf￿-U￿lrn
reN￿bIlI￿n￿lllyaI￿7￿jPerqL￿rtei
14lunie5111ttedrwer￿ representsaddiiionalirKome IlithashoswfiEdpurp05eattacledto il15utha5GrftAI daim in(omE1-thelv￿l0ff￿nd5 tsV5edto
¥erT￿faop2ratinlth5tslndany￿anldI5Iri￿jI1OTr5 asrequesled byPartwsolTe5ta andipprmd wi quarteilyTwstee meetin&l0radhxwtr￿M Nulral
Testslie5eN25 polirymeinsthi5￿lan￿WIll beaminimum ELXQ
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