ChaTlty reglstfarSon number= 1181649
Starfish Asia
Annual Report and Financlal Statements
for the Year Ended 31 March 2024
Field Sullivan LTmlted
9 Hare & Billet Road
Blackheath
SE3 ORB

Starfish Asla
Contents {contlnued)
Reference and Admlnistrative DEtails
Trustee5' Report
2tolO
Independent Exarniner's Report
Ilto12
Statement of Financial Activities
13
Balance Sheet
14
Cash Flow Statement
Is
Notes to the Financlal Statements
16to26

Starfish Asla
Reference and Admlnlstratlve Details
Chalrman
Devln Scoble
Trustee5
Stephen Curran
Maryorie Murphv
Sheila Thomas
Michael Wakelv
Colin Wrigley
1181649
Charlty Reglstratlon Number
Pflnclpal Office
32 Beck Lane
Beckenham
Kent
B113 4RE
Independent Èxamlner
Field Sullivan Limited
9 Hare & Billet Road
Blackheath
SE3 ORB
Banke
HSBC
184 High Street
Bromlev
BRI IHE
Page I

Starflsh Asla
Trustees, Report
The trustees of the Starfish L%la CIO here present the report and financlal statements for the period ended 31
Maich 2024.
The financial statements have been prepared In accordance wlth the accounting policles set oirt in note I to
the financial statements and comply with current statutory requirements, the charity's trust deed. the
Charlties Art 2011 and 'Actounting and Reporting by Charities.. Statement of Recotnmended Practice
appllcable to charities preparlng thelr accounts In accordance with the Financial RekN)rtlng Standard applicable
In the UK and Republic ot Ireland IFRS 1021- leffettice l January 20191.
Statement of Trustees. responslbllltles
The law applicable to charitie5 in England & Wales requires the trustees to prepare financial statements lor
each fTnanclal year whith glve a true and falr view of the Char5￿$ financlal actlvitSes during the period and of
its financial posltion at the end of the perlod. In preparing financlal statements giving a true and fair view. the
trvstees should follow best practice and..
select sultable accounting pollcies and then apply them consistentlv:
• obsetve the methods and prlncipals In the Charftles SORP..
• make judgements and estlmaEes that are reasonable and prudenL'
• state whether applitable UK Accounting Standard5 and statements of Tecommended practice have been
followed, subject to any materlal departures disclosed and explained in the financial statements,.
prepare the financial Statements on the going concern basis unle55 It Is inappropriate to presume that the
tharity will continue IWL bu5ines&
The trustees are responslble for keeping adequate accounting records that disclose wlth reasonable accuracy
at any time the financial p051tton of the charity and enable them to ensure that the financial statement5
comply with the Charities Art 2011. They are also responsible for Safeguarding the assets of the charity and
hence fortaklng reasonable steps for the prevention and detection of fraud and other Irreg¢Jla¥itie5.
The trustees ale responslble for the maintenance and integrity of the cha¥ity and financial information
included on the charitvs website. Legislation in the United Kingdom governing the preparatSon and
dissemination of financial statements may differ from legislation in otherjurisdictiorls.
Achlevement Revlew
Thls report looks at what the charity ha5 achieved and the outcomes of its work In the reporting perlod. The
trustees report the Success of each key actwity and the benefits the charity has brought to those groups of
people that it 15 set up to help. The review also helps the twstees ensure the charitvs airns, objectives and
activities remained focus on its stated purpose.
The trustees have Telerred to the guidance contained in the Charity Commission's general 8uidance on PublSc
Benefit when reviewing their aims and objectives and in planning the future activities of the charlty. The
trustees ensure that activities contribute to the aims and tsbjective5 they have set.
Page 2

Starfish Asia
Trustees, Report (contlnuedl
Purposes and ?Ims
The Objects of the charity are, for the pubSk benefit, the relief of poverty. sicknes5 and distress, the
advancernent of e4Jutation and the advancement of the Chrlstlan falth, exclusively in Pakistan.
Pakistan is facing a serious challenge to ensure all children. particularly the m05t dlsathiantaged, attend, stay
and learn in school. It was Teported In the Pakistani DAWN newspaper in September 2021 that "Out of all
children in Pakistan between the ages of five to 16 yeaT5. 32 per cent, i.e. one thlrd, are out of school. Thi5
amounts to an estimated total of over 20 million." The often marginalised Christian minority, who are amongst
the Poorest se£tlDn of society and often discrimi¢7ated against, have little realistic access to educatlon from the
natlonal or provSncial 8overnments. The hl8h inflation rale and the associated raise in the tost of Ilwng Is
exasperatlng the sltuatlon forthe very POOTest in Pakistan.
The selection of benefici3rie5 15 carried out by the executwe of the Board of Starfish Pakistan, an independent
reglstered Trust in Pakistan, wknse trustees are respected member5 of the Pakistan Christian community.
During thi5 financial year one trustee has ieslgned due to a change In hls circumstances with two new
members being added, bring•ng expertise from within the Christian and educational management world.
Starfish Pakistan is also responsible for the distrtbution ol grants to the supported projects. Grants are paid
monthly to locally fegistered trusts which oversee schoo15 and other institutions run by trusted Pakistani
ChrlstSan leader5. Oue to a chan8e the law concernin8 Trust registration, alongwith local bureaucracy we are
noticing 5ignifiEant challen8es in this re8ard. This Includes the blockin8 of trust bank accounts making our
practice5 har¢Jer to lulfil. It ha5 a150 been Starflsh Paklstan's practSce over a number of year5 to di5trlbute
teacheT 5tipend5 directly to individual teaihers throu8h their mobile phones. This system wa5 introduced in
order to increase transparency afid show that teache15 were ieceivin8 the a8reed amounts. The principal
riteria are that the selected schoo15 5UPPOrt the poorest farnilies in the communSty, and that evidence is
provided that the aims and objectSve5 of the char4ty are being implemented and achieved. There is constant
and regular Interaction between Starfish Pakistan and Starfish Asia, especially in regard to Ihe disbursement of
Testricted funding made to approved projects. The relationship between Starfish Asia and Starfish Paknstan Fs
documented in a Partnershtp AgreemEnL updated in June 2017. A new a8¥eement was put in place in
September 2022 and will run till 2027.
Starfish Asla In the UK èn8a8es few volunteers. Mr. Mlchael Wakety and hls wlfe continue to work a5
volunteers Iwithout payl although Keistin's official role has now basically ended due to 111 health. Our two
part-time employees continue to work for the charity. Mr Robert BavingtoR as CEO and Mrs Elizabeth Ellis as
Administrator. Thi5 year we have begun WOTkin8 Wlth Ali Geake Communications who have provided 5tsff and
trustees wlrh tralning In Fund-ralslng as well as producing a new C3se for support entitled Chan8lng Destlnles.
We contlnue to Use Susle Arther of GSGSorted All are fully approved by, and answeiable to, Ehe Trustees.
Achlevements and performance
The Executlve Trustee's Report sets out the sSgnlficant achlevements and performance dtsrlng theyear.
Flnantlal revlew
Whllst Starfish Asia doe5 not make any unconditlonal grant commltments, every attempt Is made to grant to
each supported school or proleet a monthly amount whlch meets an aRreed proportion of its cost5. To ach￿eve
this, the charity stresses in all of its IltÈrature the need for regtslar committed 8lvln8 by Its own supporters. The
Èru5tees are Provided with detailed management accounts which report piogiess and performance.
Page 3

starfish Asla
Trustees, Report (contlnued)
The charlty aims to maSntaln a balance of unrestflcted funds of e4uivalent to being able to provide 3 rrinlmum
of 3 months support, whlch currently equates to around £90.000 to cover both expenses in Pakistan and UK
1£20,CK>O required for UK alone). The balance in the unrestrirted funds at the end of thls period is around
£71.000. The tharlty tontinuegto seek to increase support to more projects sn Pakistan as funding allow5.
The trustees have assessed the major risks to which the charity is exposed. and are 5atislied that Systems are
in place to mitigate exposure to the major risks.
Risk Wbthin Paksstsn
The most slgnlficant operatlonal rlsk concerns the selection of beneficiaries and the dlstribution of grants
within Pakistan. The trustees con5iderthat the processes and arrangements made with the trustees of Starfish
Pakistan are sufficient to ensure that grants are made only to those schools which meet the criteria of
providing basic education and care in a Christian context to the poorest in soclety.
In December 2023 Starfish Pakistan applied for re-registration with the Economic Alfairs Division of the
Government of Pakistan. Th*$ was finally appyoved March 2024, and an MOU signed 8ranting Starfish Paklstan
the right to receive funds from overseas until December 2027.
With the continuin6 political unrest one is never certain as to how any new government might vSew the NGO
S￿tOr and its ability to send foreign money into the country. The trust notes an increased tendEncy from the
local bank to require extra information before allowin8 the monthly tfènsler of funds to go through. Work is
a150 urgently undenmay for the re-application a5 a trust due to changes in trust law In Pakistan and wlth that
application lor tax exemption due to charity status.
Currency fluctuatlon rlsk
Over this financial year the exchange rate ha5 largely been stsble, however even a Small drop In value has had
an impact in the amount of money needlng to be seni each rnonth. The prev*ous budget was affetted as ihe
rate did nol rise to the level preditted. Inflation 15 Still CUTrently running at around 20%, the effects on schools
and teachers is often comrnented on in discussion wtth Starfish Pakistan staff. Althou8h genefal fund resetves
are still healthy we are aware that there is a regular shortfall and steps are beln8 taken to rectlfy thSs without
reducing support abroad.
Fund-ralsln8 Rlsks
Starfish A51a CINltinues io stand (by God's gracel on donation5 from individuals, Trusts and Churches /
organlsations. The levels of commitment have generally stayed stable. However. one significant trust has
ceased to support Us duTin8 thi5 year and 3 further organisatlon ha5 ceased iys funding att￿ltIeS following the
death of its founder. In order to push forward in the area of fund-ralsinL a new Case for Support wa5
produced and traifiin8 received for siaff and trustees. Although we feel a hardened climate we are thankful to
God that our income remain5 Steady and we have not suffered the same large drop In Income as many 51milar
organlsations.
Page 4

Starflsh Asla
Trustees, Report {continued)
Structure, 8iwernan¢e and management
The trustees who served during the accountlng perlod ènd up to the date of signature of the financial
statements were..
Devln 5cobie Ichalr from 19 March 20201
Mlchael Wakely Iirusteel
Marlorle Murphy Itrusteel
Stephen Curran Itrusteel
Colln Wrigley Itrusteel
Shella Thomas Itrusteel
Nathan Javed lappolnted November 20221
The trust deed provides for a minitnum of 3 trustees. The indurtlon and trainlng of new trustees into the work
of the charlty and responsbilities Is yndertaken by the C.E.O and the Chalrman of the CIO.
The tiustees met four times this financial year including two face to face meetings In London. They agree the
broad strètegy and areas of activity of the Charity. Including consSderation of grant making. reserve and risk
policies and pertormance. Management decisions and the daily conduct of the Trust including fund-ralsln£,
partnership decisions related to the projects In Pakistan, etc. are taken by the CEO, subject to the Trust's
policies and the final oveisight of the Board. Declslons of Pollcy, appolntment of staff ènd major finantial
commitments are made by the Board.
Relatlonshlp to Stathsh Paklstan
Starli5h Pakistan is an independent Trust rÈgistered in Pakistan with its own 8oard of Trusrees and financial
audit. Starfish Asia provide5 funfls to Starfish Pakistan on the basis of a signed 'Partnership Agreement,. This
agreement is for a perlod of 5 years and rans till September 2027.
5alarle$ and beneflts
Mr Robert Bavington's salary has been set by the trustees and will be reviewed on an annual basls. Mrs
Eliiabeth Ellis continues to work part-time on a salary d￿lded by the trustees. Accountancy charges are paid
to Ms Susie Arther of GSG Sorted. The work undertaken by Ali Geake Communicatsons was decided on a fixed
price. The charity ha5 llo trading subsidiaries. No employment benefits have been paid to either staff or
trustees.
Overseas expend4ture
Funds transferred over5ea5. exclusively to Pakistan, have all been sent via regulated Bank transfer frorn the
Starflsh Asia account, held with HSBC. UK. to the Starfish Paklstan atcount Sn Faysal Bank, Lahore. No cash is
halld-carried Or transferred by any other means overseas. No funds afe sent by any means direct to projects or
personal accounts wherever possible. This a150 applie5 to transfe¥s rnade to The Elisabeth Memorial Welfare
Trust (EMM￿) with whom we have begun working and have a Partnership Agreement.
All fund5 sent to 5t8rfish Pakistan la Registered Trust) and EMI￿ la Registered Trust) are subject to annual
Audit and to the checks and balances set in place by the trustees ol the respective trusts. Most funds are
translerred 35 Restricted Funds designated lor specified projects. According to the rules of the Audit, no funds
Iwlth a lew monitored exceptlOn51 ère transferred to any personal accouftts.
Page 5

Starflsh Asla
Trustees, Report (contlnued)
The trustees are satisfied that the chariV5 rlsk management policy and procedures adequately addfess the
r15k5 to the charity arising frorn its ac15vities where It operates.
Intome from outsldè the UK
St3rfsh Asla recelves few fttnds from outslde the UK, wlth the exceptlon of oc£aslonal Income from the USA
and Canada. These donations have inC￿352d this year followin8 the C.E.O's visit in September. Starfish Asia
has re-e5tablished a partfter5hip with BKF, Netherlands whereby they wlll make regular donatlons for a
number of schools and projects In Paklstan.
AppointmantDf External Examlner
Mr. TIM Sulllvan of Sulllvan Fleld, Chartered Accountants, contlnue as our Extemal Examlner for the current
flnanclal perlod.
The tru&tees' reportwas approved by the Board of Trustees.
Devln Stoble
Chalrman
Dated..
PaEe 6

Starflsh Asla
Trustee5' Report {continued)
C.E.O'$ REPORT: APRIL 2023- MARCH 2024
Overvlew
This year has been a year of con501idat¥on and transition from the past into the beginni￿ of new way5 of
working and an enlarged vlslon. This has not been a qukk Process but foundatlons tske time put into place.
The hopels that thts will 8ive increased stability and sustaSnabllity for the Charity, wlth God's help. More work
certalnly needs to be done In teTms of fund4aislng initiatives to 8et nearer the ambltlons of the Case For
Support - Changing DE5tinie5. Over thfjs peilod however. the main focus ol the woik ha5 contintsed provldln8
education to thousand5 of children, 8lvin8 5UPPOrt and training to over 400 teachers as well as provldlng
scholarshlps to nearly 200 young people for further and higher education. We see the hand ol God in the mi185t
of some darktlme5 and See hi5 leadlng a5 we come out the other side.
Despite new, clear guldelines for the ￿eptance of appllcatlon5 there was still an over commitment bv
Starflsh Pakistan for the scholarship fund. Rob ha5 now loined the scholarship comrnittee and will be more
hands-on Sn the acceptance process, having met wlth the committee a couple of times. Steps have been taken
to Improve the follow-up of students and thls contSnues as a Work In progress.
Numbei of puplls wSth our supported schools are slowly ret4Jrning to pre-covld levels. Many chlldren seem to
have found employment while schools We￿ closed and slmply have not returned to their educatlon. The issue
of educational dropout is one that we must seriov51y con51der for future projects, flndln8 ways to keep
children in school till they complete theiF matriculation.
Teacher trainlng focus was on improving English led by Guat, a professw In Engllsh from SIDgapoTe. Thls was
followed up by Nigel Patterson conductlng further. smaller sc31e Engllsh 5ernlnars.
Rob, as well a5 Devin Ichairmanl managed to vlsSt Paklstan again. Each visiting lust oncè on their own.
Representatlves from BKF also vlslted for the first time.
Mlke's book "The Amazing story of Pakistan's ChrSstians" was publlshed and he kindly used St as a means for
brSnginE in funds to Starfish Asia. The book is avaSlable for adult readers in UK and Paklstan as well as a school
text book for years 8-10.
Consolklatlon at Home and Abroad
The UK Boèrd.. The Board has tM)w lound a new"p05t-covid" rhythm and I￿$ some meetings vla Zoom whlle
atso havine 2 in peTson meetings each year. This year has seen a continuatlon of growlngtogether ès a tearn as
well as a push for greater Input from board members.
UX leadershlp and staff team.. As Rob Uavington develops hSs role as Chlef Executive of Starfish Asia UK the
translilon proce59 moves forward. He continues to work closely tO8etheT with liz Ellis. Mike Wakely contlnue5
to be involved whlle Kerstln's health has meant that she has handed all her responsibility over to Ilz. The Work
of transitlon has contlnued with the board agreelng to engage help from fund-ralsers All and Carlton Geake.
Followlng thelr Input and training further dlseusslons are ongolng as to what otheT human resource5 lif any)
mSght be needed to continue developinE the Charitv.
Leader5hSp In Paklstan= Rev. Danlshmand Wasti and hls wlfe Jasmlne continue to grow into the leadershlp of
the work in Pakistan. Thi5 ha5 not been 3 completely easy process and there are rtlll signlflcant areas that need
to be addressed. A review of the internal processes Wlthin the office as well "man management Issues" was
carried out and Starf15h Pakistan has rertified a number of their practices which were felt to be falling. A
follow-up assessment Is planned for Ottober 2024. De5plte the addltion of extra staff, the¥e Ss a growlng
realisation that the £urrent number of project5 IS too much to be handled efficlentty. Thr5 Is not just an
administratlve issue but maybe more importantlyan issue of educational quality.
Pa8e 7

Starfish Asia
Trustees, Report {contlnued)
DIversifi￿tI0n'. We continue to investigate the possible advantages of diversificatSon. not from our core
work, but from only working through Starfssh Pakistan. Our partnership with the Eliiabeth Memorial Welfare
Trust 15 working very well. Through this trust we support 4 schools and a program of discipleship development
in partnership with the Open Theological Seminary IOTSI within 13 sthools Hot connected with Slarlish
Pakistan. This work is overseen by Walter Wahee(l. Rob has also met with leader5 of a couple of eKlSting
organisation5 who Share 5fmilar value5 to 5tath5h with the idea of possible partnerships in the future.
Oiversilicalion is a possible way to both improve the quality of education in our existing supported schools as
well as ivbcreasing the number of supported projects. Although there will always be rtsks Snvolved with working
with new partners there is also much that may be gained. This could even be a more cost effective wav
forwaid than setting up reglonal offices of Starfish Pakistan.
Achlevements STh Pakistan
Everything that Starfish Asia Is able to achleve Is dependent on three thing5. Flrstly. the amazlng overall care
and sovereign Control of &)d. of which we are regularly aware. Secondly. the constant generosity of our
donors, sUPPOrters and friend5, without wh05e partne15hip nothing would be possible. Thirdly, the dedication
and hard work of the staff, volunteers. project leaders and teachers in all ihe schools and projects we support
in Pakistan. We give thanks to God for thern all.
In 2023-2024 we have continued to help about 10,(KIO children reCe￿e an educatlon with Chri5tiafi values and
Bible teaching. In thls period, we been able to:
• Provide support to 50 schools Wlth regular financial help, especially for teachers, salaries. We also support 5
homes and centres forchildren with spectal needs as well as a community health project.
• Provide furniture and equipment plus on8oing fepairs to 15 5choo15, Wlth new toilets, desks and chairs, fans,
computers, etc.
• Provide S schools with solar panels to help with their energy costs and provisS0n.
• Begln and /or complete 4 bullding projects givlng vastly improved faclllties to students. This include5 the
major refurblshment and building of an extension for Ananias home for the blind. We are grateful to God for
hls provision of two very generou5 donors for this work.
• Glve fee scholarshlp awards to more than 180 students with a good number coming from Starfish supported
schools.
• PTovide sets of textbooks to 47 supported schools and 10.O(M) students in 2024 plus supply students wlth the
Blble Curriculvrn book5. We provlded a further 26 s(hools with text books for their 2500 students
• Meet kholarship student5 on a touple of otcaslons for rnutua5 encouragement. meeting wSth the Starfish
Paklstan team and LJK Chairman, Devtn.
Conduct teacher training in Abottabad with a focus on improved English. There have also been a number of
8atherings for Project leaders focusiTrg various issues of leadership and school management.
Carry Out regular vlsits to all schools, through Danlshmand, Jasmlne and Johnson. Thus keeping a watchful
eye on how the schools are performlng, Issues that need addressin& as well a5 gaining better insight into their
accountlng systems and noting improvements in many schools. Thls has hSghllghted short-cornlngs in many
area5 and a need for computln8 equlpment for each school so ihat Ilnancial records can be kept better.
Organi5e and hold tnock exams for the majorlty of year 9 and 10 students. These "unified exams" gave the
pupi15 an experlence of what to expect from thelr actual exams and gave the teachers a chance to See where
the pupi15 needed impi(trvement.
• Forge better links with our partners In other countrles. We have seen an Increase in support from USA as
well as Canada. StarfI5h Singapore has been re-vitalised and provided extra funding when requested. Thev
rewrt their support base as being stable and are tak5ng the initiative to publlcise the work and encourage
Involvement at different levels.
Page 8

Starflsh Asla
Trustees, Report {continued)
Targets outllned from14st yearfs report:
Re-establIshi￿ Starf15h USA and developing partneTshlps with new and e￿$tIng contacts. DONE
• Establish Starfish Canada and see them support 3 schools by the end of the financial year. DONE but only one
school supported
See Increased support from Starf15h Sln8apore and BKF INetherland51 DONE
Adopt the new Case For Support and throu8h its use (along with thè abovÈ} 5ntrease our Income by
£440,000. Adopted but increase not yet seen
Restructure how support 15 given to existing and new schools. Steps taken but not fully rea115ed
Investigate p055ibiltties for a teacher training centre to better equlp Chrlstian teachers. Decision to move to
more localised tralning to be more accessible to ALL teacher5
Plans for the future
Starfish Asia remalns primafily commltted to supporting education in Pakistan and to see Increaslng qualitv
wlthin all supported proletts. We are still workln8 tOWÈfds being in a PDSltion to improve the quallty of the
schools we curfevbtly 51JPPDrt AND look to providing support for more schoo15. We continue to work to, not
only release new and increased fundln& but also hjndamentally look at our working practices and think
creatlvely so as to support practical solutions whith make an impact. Our ernphasis remains to help those from
poor families mainly (but not excluswelyl from the depTived Chrlstian community in Pakistan. In order to
ccomplish this. we continue the slow process of forging strategic partnership5 both in P3ki5tan 35 well a5
other parts of the world, not only to brlng in increased financlal support but also expertlse, Innovatlon and
practlcal solutlons.
In the Ilght of thls we set tar8ets for the comlng 2 years..
2024- 25 Irevlsed from la5tyearfs report):
lfttrease the support ralsed by £400.0[￿1
Forrn 5trateglc partnershlps for the overslght and support of existing schools including Working wth the
Starfish Pakistan board to look at the longteim structure and leadership of Starfish Pakistan.
Increase the number of supported projects through increased number of partners.
Oevelop a strategy for teacher tralning whlch Includes regular, lo(a115ed teacher development.
Identify a"Champion" to develop Initiative5 for ralslng awareness and funds lor Starflsh USA.
See Increased support from Starfish Canada, 51ngapore and BKF
2025.2026:
Increase the support raised tts £1.5 million
Increase nvmber of support schools
Implement new teacher tratning strategy together with new partners
Pa8e 9

Starfish Asia
Trustees, Report Icontinued)
Finally
These are our goals and we know they can onty be attalned by the grace of God and the extraordinary
generosity of our donor5. SUPPOrters, and friends- and also by the heroic hard work and dedltation of our staff
and all the teachets in the schools and projects we are commltted to in Pakistan.
Rob Bavin8ton
Chlef Execuilve Officer. Starf55h Asl•
july 2024
Page 10

Starflsh Asla
Independent Examlner's Report to the trustees of Starlish Asia
I rèport to the charlty tru5tee5 on my examination of the actount5 of the charity for the year ended 31 March
2024 which comprise the Statement of Financial Attivities. the Balance Sheet and ￿lated notes.
This report Is made Sole￿ to the charitrf5 trustees, a5 a body, in accordance with Section 145 of the Charitles
Aet 2011. My work has been undertaken so that I might state to the charitvs trustee5 those matters l am
required to state to them chSs report and for other purpose. To the fullest extent permitted by law, I do
not accept or assume re5ponsibllity to anyone other than the tharity and the ch8ritVs trustee5 as a body, for
my work, for this repor¢ orfor the oplTrion51 have formed.
Respon5rbilitles and ba$1$ ol report
As the charity tfU5tees of Starfish A513 you are responsible for the preparatlon of the account5 in accordance
wlth the reoulrements of the Charitie5 Act 20111.the Act'l.
I report In respect of my examlnatSon ofthe Starfish Asia's accounts carried out under sectSon 145 of the 2011
Att and in carrying o￿t my examinatlon I hève followed all the applScable Direttions given by the Charity
Commis51on under sectlon 14515llbl of the Act.
An independent examlnation does not Involve gathering all the evidènce that would be required in an audlt
and consequently does Trot tover all the matters that an auditor conslders In givlng their opinion on the
financlal statements. 7he plènnlng and conduct of an audit goes beyond the Ilrnlted assurance that an
independent examination tan provide. Consequently l express nts oplnion as to whether the financlal
statements present a 'true and falrf vlew and my report 15 Ilmited to those speclflc matters set out In the
independént examinerfs statement.
Independentexamlnerfs rtatement
Since Starfish Asla's 8ross income exceeded £250,000 your examiner must be a member of a body Ilsted In
section 145 of the 2011 Act. I conftrm that l am qualSfied to undertake the examinatlon because l am
member of ICAEW, which 15 one of the listed bodles.
I have cornpleted my examlnatlon. I confTrrm that no materlal matters havè come to my attention In connection
wlth the ex3minatlon giving rne cause to believe that in any materlal respect..
l. accountlng records were not kept in respect of Starflsh Asla as required by sertion 130 of the Act,. Dr
2. the financial statements do not accord wlth those records.. OT
3. the financial statements do not comply with the accountlng requlrements concernlng the form and
ontent of accounts set out in the Charitie5 (Accounts and Report51 Re8ulatlons 2008 other than anv
requirement that the accoufkts give a 'true and falr view, which is not a rnatter considered as part ol an
independent examlnation.
I hève no concerns and have come aeross no other matters in connectlon wlth the exarninat%on to which
attEntlon should be drawn in thls report Fn order to enable a proper understanding of the accounts to be
reached.
Page 11

Starflsh Asla
Independent Examlner's Report to the trustees of Starfish Asla Icontlnued)
Tlrnothy Sullivan FCA
ICAEW
Field Su115van Limited
9 Hare & Billet Road
Blackheath
SE3 ORB
Date..
Page 12

I

Starflsh Asla
(Reglstiatlon number: 1181649)
Balance Sheet as at 31 March 2024
2024
2023
Note
Current a55ets
Debtors
12
21,310
151,435
10.243
169,296
Cash at bank and In hand
172,745
179,539
Credltor5'. Amounts fallln8 due wlthln onèyear
14
17,2201
15,8671
N•t assets
165,525
173,672
Funds of the ¢harlty:
Restrlcted Income funds
Restrl¢ted funds
97.175
74,101
Unre5trfrted In¢ome funds
Unrestricted funds
68,350
99,571
Total funds
17
165,525
173,672
The flnanclal statement5 on pages 13 to 26 were approved by the trustees, and authorised for issue on 2
September 2024 and s18ned on thelr behalf bv:
Ml¢hael Wakely
Trustee
The notes on pa8e5 16 to 26 form an Integral part of these financlal statements.
Page 14

Starllsh Asla
Cash Flow Statement for the Year Ended 31 March 2024
2024
2023
Note
Cash Ilow5 from operatlng 8rtl¥ltles
Net cash expendlture
18,1471
124,1401
Adjustments to CJ5h Ilowsfrom non-ca5h Items
Investment income
12,9651
17161
124,8561
111,1121
Working capital adjustments
Ilncreaselldecrease In debtors
Increasejldecreasel In treditors
12
111,0671
1,353
7,123
56.9911
14
Net cash flows from operatI￿g actlvitie5
120,8261
174,7241
Cash IIow5 from ImiestlnB 3ctlvltles
Interest recelvable and 5Imllar Income
2,965
716
Net decrease in cash aad cash equivalent5
117.8611
174,LKJ81
Cash and cash equivalents at l April
169,296
243.304
Cash and cash equivalents at 31 March
151,435
169,296
All of the cash flows are derived from continulng operations dLrrlng the above two perlods.
The notes on pages 16 to 26 form an integral part of these financlal statements.
Page 15

Starf15h Asla
Notes to the Finandal Statements forthe Year Ended 31 March 2024
I Charlty Status
The rharity is domiciled in En8land and Wale5.
The address of its reg¢5tered office is..
32 Beck Lane
8R3 4RE
Starfish Asia is a charltable Incorporated orBanlsatlon.
These flnanclal statements were authorised lor issue by the trustees on 2 September 2024.
2 Atcountln8 pollcles
ststement ol compll?nce
The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5'.
Statement of Recomrnended Piattice appllcable to charitles prepailng their accounts in accordance with the
Financial Reporting Standard applrcable in the UK and Republic of Ireland IFRS 1021 leffeclive l January 20191-
(Charities SORP IFRS 1021 Second edition October 20191, the Financièl Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021. They also comply with the Companies Art 2006 and Charitie5 Art 2011.
Ba$ls of preparatlon
Starf15h Asia meets the definition of a public benefit entity under FRS 102. The accounts Ifinancial statements)
have been prepared under the histOf¢cal cost convention with items recognised at cost or transactlon value
unless otherwise stated in the relevant notelsl to these ac¢ount5.
Golng concer
The trustees COn￿der that there are no material uncertainties aEK)Ut the charitys ablllty to contlnue as a going
concern.
Pa8e 16

5tarflsh Asia
Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Icontlnued)
Judgements and keysources of p5tlrnatlon uncertalnty
In the èpplication (Ff the charitvs accountlng politie5, the tru5tee5 are required to make judgements, estimates
and assumptions about the carrylng aTnount of assets and liabilities that are not readlly apparent from other
sources. The estimates and associated assumption5 are based on hlstorlcal experlente and other factor5 that
are conslderers to be ielevant. Actual results may differfrom these estimates.
The estimates and underlying assumptions are revlewtd on an ongoing basls. Rev15ions to accounting
estlmates are recogni5ed In the perlods In which the estimate is revised where revisions affects only that
period, or In ihe period of the revlslon and future periods where the revisions affects both current and future
perlod5.
Income and endowments
Voluntary income Includlng donatlons, gifts, le8acies and grants that provlde Core fundlng or are of a 8eneral
nature is recognlsed when the thafity has entitlement to the Income, It Is probable that the Income wlll be
received and the amount can be measured wfth sufficient Teliabllltv.
Do*￿tIonS ond kgocies
Oonations and legaties are retogn55ed on a receNable basis when recelpt Is probable and the amount can be
rellably measured.
Investmentlntome
Divldends are reco8ni5ed once the dividend has been declared and notification has been received of the
d￿ldend due.
Expendltyre
All expenditure is reco8nised onte there is a legal or constructive obligation to that expendlture, Itls Probable
settlement is required and the amount can be measured Yeliably. All cost5 are allocated tts the appllcable
expenditure headlng that aggregate similar costs to that category. Where tosts eannot be directly attributed to
particular headings they have been allocated on a basis consistent w*th the use of reso¥Jrces, wlth central staff
costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Other 5UPPOrt C05t5 are allocated based on the spread of staff costs.
Rolslnglunds
These are costs Incu¥red attracttng voluntary income, the management of Investments and those incurred lft
trading activities that Taise fund5.
Chtyrlttsble tsctivitle5
Charitable expeniliture comprises those costs Sncurred by the charlty in the delivery of it5 activities and
5etvices for Its beneficlarles. It includes both costs that can be allocated directly to su(h activitie5 and those
costs of an indirect nature necessary to stspport them.
Pa8e 17

Starflsh Asla
Notes to the Flnanclal Statements for the Year Ended 31 March 2024 (continued)
Grantprov151ons
Provislons for grants are made when the intention to make a grant has been communt£ated to the recipient
but there Is uncertalnty about either the timing of the grantorthe amount of grant payable.
Support costs
Support costs include central functtons and have been allocated to artivity cost categories on a basis
conslstent with the Lt5e of re50urtes, for example, allocating property costs by floor areas, or per capita, staff
costs by the time spent and other costs by their u5aBe.
Govemance costs
These include the costs attributable to the charivs compliance with constitutional and statutory
requirements, including audit. strategic management and trustees meetings and reimbursed expenses.
Tamatlgn
The charity is considered to pass the tests set out In Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a chafttable company for UK corporation tax purposes. Accordlngty, the
charity Is potentially exempt frorn taxatfjon In respecr of In£ome or capltal galns received withln categories
covered by Chapter 3 Part 11 of the CorrM)ration Tax Act 2010 or Settion 256 of the Taxation of Cha¥geable
Gain5 Act 1992, to the extent that such income or gain5 are applied extlustvety to charttable purposes.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or servke5 performed In the ordlnarv
iourse of business.
Trade debtors are ￿CognISed ihit1è1￿ at the transactlon prlce. They are subseouently measured at amortlsed
cost uslng the effective interest method. le55 prowslon for impalrment. A provlsion for the impairment of trade
debtors 15 established when there is objective evidence that the char6ty will not be able to collect all amounts
due accordingto the original term5 of the recelvables.
Cash and cash equlvalents
Cash and cash equivalents comprlse cash on hand and call deptssits. and other short-tem highly Ilould
investment5 that are readily convertible to a known amount of cash and are subject tt> an inslgnilic3nt risk of
change in value.
Fund strUc￿re
Unrestricted Income funds are 8eneral fundsthat are available for use at the trustee5 discretion in furtherance
of the objectives of the charity.
Restricted inctsme funds are those donated for use In a particular area or foi 5petific puip05e5, the use of
which is restricted to that area or purpose.
Page 18

Starflsh Asia
Notes to the Financlal Statements for the Year Ended 31 March 2024 (contlnuedl
Pen510h5 a￿d other post retlremeTrtobllgat5ons
The charity operates a defined contribution penslon scheme which Is a penslon plan under which fixed
contributions are paid into a pension fund and the charity has no legal or constructive obligatlon to pay further
contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to
employee servlce In the current and prSor periods.
Contrlbutlons to defined contribution plan5 are recognlsed in the Statement of FSnanclal Attivitles when thev
are due. If contributlon payments exceed the contrlbutlon due for servlce, the excess is retognlsed as a
prepayment.
3 I￿coMe1r0rn donatlon5 and leBo¢les
Unrestrlcted
funds
General
Restrkted
fund$
Total
2024
Total
2023
Donattons and legacte5,'
Donations and grants
Gift aid reclaSmed
232,401
27.485
387,838
620,239
27,485
546,936
31,169
259.886
387.838
647,724
578,105
4 Investment Incorne
Unre5trfrte
fund5
General
Total
2024
Total
2023
Interest receSvable and slmilar In£ome.'
Interest receSvable on bank deposlts
2,965
2,965
716
Page 19

Starfish Asla
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued}
5 Expendlture on ralslng funds
al Costs of generatlng donation5 and le8a¢les
Unrestrlcted
funds
Geneial
Total
Totsl
2023
Note
Fundratsln8 costs
3,035
6 Expendlture on charitable actswitles
Total
2024
Total
2023
Note
Office and admlnSstratlon expense5
MènaEement expenses
Travel and subsistence
12,960
54,369
4,075
2,197
518.331
30,763
3S,443
11,830
59,444
2,199
1,927
472.844
26,666
25,016
Bank charges
Grant fvnding of actlvitles
Staff costs
Suppport costs
658,138
599,926
Pa8e 20

Starflsh Asla
Notes to the Flnancial Statements for the Year Ended 31 March 2024 Icontlnued)
7 Analy515 of governance and support cost5
Support Costs
Unrestrlded
funds
General
Totsl
2024
Total
2023
Staff costs
Wa8es and salaries
Pension costs
Meeting expenses
Staff traSning
Independent examlner's fee
2L333
640
21,333
640
19,5
585
517
517
1,644
8,700
4,253
8.700
4.253
3.287
35,443
35.443
25.016
8 Grant-maki
Analy51$ of grants
Below are details ol material grants made to institutiotbS.
2024
2023
Name of In5tltulion
School 8ooks and Bibles
Scholarships
Talent Ministry
Blair Trust Model Schools
Holy Shepherd Grammar School
Ghouri Education Development Society
Edkasa
Dean Public School
other
34,072
32,592
11,348
26.968
12.294
10,635
28,289
26,888
12,218
26,100
10,158
9,641
5,219
11,913
342,418
472,844
4,571
385,851
518,331
Page 21

Starfish Asla
Notes to the Flnancial Statements for the Year Ended 31 March 2024 (continued
9 Trustees remwnerallon and èxpenses
Dvring the year two trustees were reimbursed travel and 5ubsi5tence ard printin& postage and stationery
expenses arnountlng to £1,69112023- two trustees reitnbursed travel and trainillg expense5 of £3.7501.
Oonations made by the trustees w￿thoUt any conditions attached totalled £14,416 for the year 12023
£19,745).
10 Staff costs
The aBgregate payroll costs were as follows:
2024
2023
Staff Costs durlngihe yeaT wère:
Wages and salaries
Penslon costs
51,200
1,536
45,389
1,362
52,736
46,751
The number of pprsons IlncludlnB senlor management i leadershlp teaml employed by the charlty during the
yearwas as follow5..
2024
No
2023
No
Operatlon
Adminlstratlve
No employee received ernolurnents of more than £60,000 durln8 theyear
The total employeè benefits of the key management personnel of the charity were £30.76312023- £26.6661.
Page 22

Starfish Asia
Notes to the Flnanclal Statements for the Year Ended 31 March 2024 (contlnued)
11 Taxatron
Thè charity15 a reg15tered charlty and Is therefore exempt frorn taxation.
12 Debtors
2024
2023
Prepayment5
Accrued income
3,214
10,200
7,896
2,997
Other debtors
7,246
21,310
10,243
13 Cash and ta5h eqvlvalents
2024
2023
Cash at bank
151,435
169,296
14 Credltors: amoun15 falllng duewlthlTr one year
2024
2023
Othertaxation and social secuTIty
Other credltors
Accruals
2,073
307
1,824
3,231
812
4,840
7,220
5,867
IS Penslon and others¢hemes
Deftned contrlbutlon pÈn51on scheme
The charity operates a deflned contrlbutlon pen51on scheme. The PEnsion cost char6e fijr the year represents
contributions payable by the charityto the scheme and aTnounted to £1.53612023-EI,3621.
Page 23

Starflsh Asla
Notes to the Financial Statements for the Year Ended 31 March 2024 (contlnued)
16 Commltments
Starfish Asla continues to SUPIM)rt many projects and related costs of whlch monthly funding h85 been
committed. The monthly commitment amouTrt5 to £53,446. The commitments are in Pakistani Rupee
PKR18,845,500 exchange rate PKR352.60721£1 at 31 March 2024.
There 15 no legal obligation to continue this fundinE and the level of regular funding may decline if sufficient
reserves are not available. Funds will be paid to Starfish Asla, Pakistan who wlll distribute these rnonies to the
agreed entities. Continued funding 15 dependent on evidence belvE PTovided Showing the airns and objectives
of the charity are being irnplemented and athieved. Monthly comrnitments will be funded from current
resekves and future income.
17 Funds
B?lance at I
Aprll 2023
Incomlng
resources
Resources
expended
Balancè at 31
March 2024
Unrestricted fvnds
Geneml
Geneial Funds
99,571
262,851
1294.oni
68,350
Restricted funds
Flve Model Schools
School Books and Bibles
Scholarships
Bible Curriculum
24,000
23,363
25.107
18.000
124,0(M)I
117,9991
132,5921
117,2781
340
11.925
17.093
37
5,704
4,440
17,815
37
Building Fund
Lighter for Life Mlnistfies
The Voice of Childen School
other SuppDrt for Schools in
Pakistan
Staff and Spiritual Development
School Upgrade5
Star Shine School
Flood Appeal/Relief
3,797
5,221
9.500
12,200
17,6931
110.0611
5,604
7,360
23,026
12,246
198
271,456
1238,5191
112,2431
17461
13.6331
55,963
560
12
3,652
19
218
218
74,101
387,838
1364.7641
97.175
Totsl funds
173,672
650,689
1658,8361
165,525
Page 24

Starflsh Asla
Notes to the Financlal Statements forthe Year Ended 31 March 2024 {contlnued)
Balance at I
April 2022
In¢omln8
resour£es
Resources
expended
Balante at 31
March 2023
Uniestrl¢ted funds
6ellerol
General Funds
108,288
303,550
1312.2671
99,571
Restrlrted fund5
Five Model Schools
Sthool Books and Bibles
Scholarships
Bible Curriculum
Building Fund
Lighter for Life Mtnlstrles
Edkasa
241
24,OLK)
32,536
32.600
16,418
16,566
9,700
124,2411
124.9961
126,8881
14,1981
116,6291
17,6161
15,4751
13,0831
19,9641
(7,2001
6,213
4,873
ICKJ
340
11,925
17,093
37
3,797
1,713
5.475
3,083
3.460
lan Pratt Improvement Proletts
The Voice of Childen School
Other Support for Schools in
Pakistan
11,725
5,221
25.865
38.353
72
7,276
70,286
173,1251
126,1071
13,3741
17,2761
23,026
12,246
198
Staff and Spiritual Development
School Upgrades
Stsr Shlne School
3,500
89,524
217.331
1232.9721
73,883
Total fund5
197,812
520,881
1545,2391
173,454
The specific purpose5 forwhich the funds are to be applied are as follows..
The larger TestrScted fund5 are listed above and are all for the support of Schools Paklstan and all pald to
Stèrfish Paklstan who arrange local distribution of funds.
Pège 25

Starflsh Asla
Note5 to the Financial Statements forthe Year Ended 31 March 20241¢ontlnued)
18 Analysls of net assets between fund5
Unrestricted
funds
General
Total funds at
31 March
2024
Re5trlcted
funds
Current assets
75,570
17,2201
97,175
172,745
17,2201
Total net assets
68.350
97,175
165,525
Unre5trlcked
tunds
General
Total funds at
31 March
2023
Restricted
fund5
Current assets
105,438
15,867)
74.101
179,539
15,8671
Current Ilabilities
Total net assets
99,571
74,101
173,672
Page 26