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2024-12-31-accounts

RAISING FUTURES KENYA ANNUAL REPORT 2024 OPÈ Tr* INI IINTr-ITUTE AIROBI isingfutureskenya. Registered Charity Number: 1181670

Raising Futures Kenya Annual Report 2024

Equipping young people in Kenya to become self-reliant, free from poverty and exploitation, through vocational and business skills training, with wellbeing support.

Vision, Mission and Values

Our vision is a world where all children and young people in Kenya live with dignity, hope, and the opportunity to fully participate in society.

Our mission is to create opportunities with children and young people in Kenya to break the cycle of poverty and inequality and fulfil their potential.

Our values:

In early 2025 we reviewed our values to ensure they still reflect the strategic direction we want to go in. For us, values need to be authentic and embedded in every aspect of our work and organisation, and we are proud to say that they are.

We are people-centred – Our organisational culture centres the importance of wellbeing, lived experience and ability to thrive, for all students, staff and anyone working with Raising Futures Kenya.

We are collaborative – We listen actively, reflect on our own actions, admit to failure, look for opportunities to learn, to act, to be better. We’re happy to share with and learn from individuals and organisations in our work to create the biggest impact.

We are bold – We set ambitious targets both within our programmes and for advocating for change within the sector. We strive for meaningful impact, not just good intentions. We are not afraid to speak out and make bold changes.

Charity Details

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Our flagship programme - Seed of Hope

Raising Futures Kenya is a UK-registered charity making big impacts in Kenya across youth employment, vocational education and training opportunities - breaking cycles of poverty and inequality in under-resourced communities.

Working closely alongside our Kenyan-led partner, Raising Futures Kenya NGO (Non-Government Organisation), our award-winning Seed of Hope vocational training and business skills programme equips young people across Kenya with a combination of the skills and wellbeing support they need to progress successfully into employment or self-employment.

80% of graduates start a business or secure employment within 6 months, and 70% are financially self-reliant.

Since 2001, Seed of Hope has supported almost 5,000 disadvantaged young people aged 14-25, majority girls, to earn a sustainable income to support themselves and their families. Following significant investment from funders, we are on an upward trajectory, now reaching over 1,000 young people a year directly, and a further 3,000 per year through partners trained in the Seed of Hope model.

We are changing the narrative for young people in Kenya through our innovative approach to vocational training, and are recognised as a leader in our area.

Breaking cycles of poverty and trauma

Across Kenya, almost a fifth of the population now live in severe poverty due to a devastating combination of the pandemic’s long-lasting impact on employment, ongoing high inflation and severe climate extremities such as drought and floods leading to loss of livelihoods and jobs. Many underserved young people leave school with no qualifications or employment skills, finding themselves locked out of training and job opportunities and at high risk of exploitation, particularly girls. Many of the young people we work with have experienced severe trauma, while others have been pushed into criminal activity to try and make ends meet. We believe in these strong and determined young people. We know that with our support they can recover and go on to create rewarding futures.

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Vocational training and support

For over 20 years, we’ve been running our multi-award-winning, vocational education training programme through our education centres in three high need areas of Kenya - Dagoretti slum in urban Nairobi, and rural communities in the Semi-Arid Eastern (Kitui County) and Central Kenya (Murang’a County). On average, 70% of students are female and 30% of those are young mothers .

Our centres provide free, accredited 6 and 12 month vocational training courses (for example mechanics, fashion, carpentry or hospitality), as well as short targeted courses in entrepreneurship and digital skills. All vocational training includes core education in English, financial literacy, business and computer skills, to ensure young people have the skills they need to start their own business.

After the end of their course, students can choose to sit an exam to gain a nationally recognised qualification. We support and champion young people as they transition from learning to earning, by setting graduates up with internships, and free access to Seed of Hope Business Hubs where they can use computers, equipment, tools and the materials they need to launch a small business. Seed of Hope Graduates often mentor current students, and some have even been able to offer internships and employment in their own successful businesses, proving that cycles of poverty can be broken.

Our Seed of Hope programme includes:

We treat every student as an individual and personalise our support to their specific needs (physical and mental) and circumstances to set every student up for success.

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Our free comprehensive, holistic, support package has been developed from 20+ years of experience and community engagement. This is what sets us apart. This is what makes Seed of Hope such an impactful training programme, giving young people the opportunity to change the direction of their futures and giving them opportunities full of dignity and hope.

What sets Seed of Hope apart from other vocational training

Training courses alone don’t create meaningful change for young people. If young people are experiencing extreme poverty, trauma from abuse, are hungry or cannot afford sanitary products or childcare, they are unable to fully engage in lessons and learn.

Our vocational training and business skills courses are different from others. We actively research and remove barriers to learning and education for young people experiencing poverty. Our courses are completely free and they are accompanied by a holistic package of support to ensure no young person misses out on the opportunity for education and becoming self-reliant.

Scaling sustainably

As well as running three Seed of Hope training centres, following investment from a US funder and with the support of other stakeholders in the government and charity sector, we are now scaling our work to 18 other vocational training centres across Kenya. Educational institutions are being trained and mentored to adopt our training model, with a focus on the holistic support elements, including the mental health and sexual and reproductive health education which is distinct to our training provision.

Shifting power

Raising Futures Kenya is recognised as a sector leader in genuine localisation and shifting power to our partner NGO in Kenya. Our Kenyan-led partner is building their resources and capacity to become fully self-reliant within the next 15 years. In the UK development sector, we are actively advocating for localisation of development work and funding, and have a goal to no longer be needed written into our strategic plan.

““We think that grants are more likely to succeed when they are held and implemented by those who are closest to the work. Granting directly to the local agency removes a layer of administrative cost and promotes trust-based philanthropy.”

and were happy to fund our Kenyan-led partner directly.

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Seed of Hope Impact 2024

Enabling young people in Kenya to access training, qualifications and employment skills

Outcomes and impacts

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Thank you!

Dear Friends of Raising Futures Kenya,

We had lots of achievements in 2024 to celebrate.

Perhaps the most notable was the official opening ceremony of our brand new Seed of Hope vocational training centre in Dagoretti, Nairobi in January 2024, combined with graduation. For our long term supporters, you’ll know this has been a project close to our hearts for a number of years, so we are beyond delighted to have finally got to this stage. A huge thank you to everyone who donated to make this dream possible.

The new building includes 4 classrooms, a toilet block and a staff office. The temporary classrooms built to enable social distancing during COVID were not wasted, they have been installed on the first floor, as temporary additional learning spaces until phase 2 of our building plans.

The new centre not only offers an inspiring, safe place for students to study their vocational and business skills courses, but it’s also enabled an additional course to be added, and more spaces on the existing courses. The Hairdressing and Beauty Therapy launched in June 2024 and was at capacity within days of registration opening!

In its first year of being open, the new centre enabled 353 students to learn a skilled trade or business skills, and the Kenyan team have big plans to add an extra two floors to the building, expanding the courses they can offer, and replacing the shipping containers on site with a purpose built business hub, computer centre and mechanics workshop. Watch this space!

We were delighted to reach a huge milestone in the number of students our Kenyan-partner supported at Seed of Hope in 2024. For the first time ever, over 1,000 young people completed a vocational training or business skills course, setting them up for a future where they can earn their own money and break the cycle of poverty. Pre-COVID we were supporting around 170 young people a year, now it’s a staggering 1,000+!

This would not be possible without the donations and support from each and every one of you, thank you for being part of this transformation.

In 2025 we are aiming to support 1,230 students through Seed of Hope, plus reaching an additional 3,000 through training partners to deliver the impactful Seed of Hope model in their own vocational training centres. This scaling model is being piloted for a second year in 2025 and we’ll be sharing learnings next year with a view to being able to increase the reach of Seed of Hope by training partner institutions.

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On the theme of new buildings, the Seed of Hope centre in Kangweni, Kitui (pictured below) also celebrated the construction of a brand new kitchen which is big enough to facilitate students for a Catering and Hospitality course which will be added in 2025. The new kitchen ensures the support team can provide the students with warm, nutritious meals to fuel their learning. Last year a whopping 25,930 lunches were given out at the Kangweni centre so it certainly will get well used! Perhaps the biggest thing to celebrate about it was that it was entirely funded by donations and grants raised by the Kenyan partner, from within Kenya! Proving that locally-led fundraising does work.

2024 saw some big changes on our UK Board as several Board members came to the end of their terms. We’d like to take this opportunity to thank Andy King (former Chair), Deborah Kimathi and Mike Doris for their invaluable contributions to Raising Futures Kenya over this pivotal time. We’re delighted to welcome Sophie Tanner (new Chair) who lives in Nairobi, Laura Armstrong, Chris Muzonini, Tom Quayle and Kieran Rafter who have joined the UK Board with a wealth of experience, knowledge and energy, perfectly suited to the next era of our strategic plan.

There’s no doubt that 2025 will be a challenging year for us to raise the funds we need to support the ambitious plans of our Kenyan partner. These include drilling a 30m borehole in Kangweni, Kitui, bringing much needed drinking water to the Seed of Hope centre, and community. It will also enable the team to irrigate the land to set up a demonstration farm to grow crops on. The crops will subsidise the students’ lunches and surplus sold to cover some of the running costs of the centre. Members of the local community will come to the farm to learn agricultural and business skills, and how to adapt their

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own crop growing to meet the changing climate. This is replicating a successful pilot in our Seed of Hope centre in Kariti, Murang’a.

Another new kitchen is also going to be built, this time in Kariti. As with the one in Kangweni, it will be big enough to facilitate the Catering and Hospitality students, and will provide daily nutritious lunches for the students.

We are aware many trusts and foundations are closing, pausing their grant making, or are moving away from supporting projects internationally. This is devastating to small charities, especially in light of the tragic USAID funding cuts, and the huge drop in funding from the UK Government. These cuts will always impact those who are most vulnerable, and experiencing the greatest levels of poverty and deprivation, as they have no safety nets. We are committed to stepping up and filling the gaps wherever possible to ensure all young people can access quality vocational and business skills training and tailored support, but we can only do this with your support.

Thank you very much for being part of our Raising Futures family. We appreciate there are so many worthy causes so it really means a lot when you choose to support us, thank you.

With best wishes,

Kirsty Erridge UK CEO

Photo of Seed of Hope Nairobi launch ceremony and graduation - Jan 2024

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Our Strategic Plan 2022-26

For over 20 years we have talked about Raising Futures Kenya (formerly Vision Africa) as being one organisation. The reality is we are two organisations working in close partnership, a Charitable Incorporated Organisation in the UK, and a registered NGO in Kenya. We’re both called Raising Futures Kenya and we’re both working towards the same vision and mission. We have just recognised that we have very different roles to play in achieving those goals: from the UK our primary function is to fundraise, and from Kenya the primary function is to deliver the projects.

For the first time, in 2022, the UK and Kenyan organisations developed their own separate Strategic Plans. This is because we recognise that the Kenyan NGO should have autonomy in deciding what the programme priorities should be and how best the funding should be invested to ensure young people can become self-reliant and free from poverty. The Kenyan staff are from the communities where we work and understand the nuanced needs of the communities and what projects/interventions will be successful.

We are committed to Shifting the Power to our passionate, experienced and dedicated colleagues in Kenya. We are acutely aware of the power imbalance between NGOs in the Global North, who typically have access to funding, and NGOs in the Global South, who typically are implementing the projects.

Over the 5 year period we’re working with our Kenyan colleagues as they build up their team, resources and capacity to take on more of the decision making for our two organisations. We’ll work to encourage our committed funders and supporters to fund them directly, rather than going through us in the UK as the go-between.

We appreciate this is a long journey, and we are learning as we go, but both organisations are committed to the process and continuing to work together very successfully with respect and dignity.

UK Strategic Outcomes 2022-26

Guiding our work over the 5 year period will be the following outcomes:

Strategic Themes for Raising Futures Kenya in the

UK

Underpinning all of our work over the 5 year period will be the following themes:

Do good, be better

Learn from the Shift the Power movement and embed it throughout our organisation. Embed a culture of reflection and respond to changes in society. Actively reflect on our own actions, admitting to failure, looking for opportunities to learn, to act, to be better, to share and to ensure no one is left behind and everyone has an opportunity to thrive.

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Sustainability

This theme cuts across all of our work and includes:

Wellbeing and thriving

Our Seed of Hope programme centres on the wellbeing of students, ensuring they are in the best position to be able to thrive. We will ensure this is extended to all staff, volunteers and anyone working with Raising Futures Kenya. We will advocate for wellbeing in the sector.

We consider the whole person in our work. Sustainable development isn’t simple; solutions are often complex and unique to each individual. We work closely alongside children, young people and families to ensure they have all the support they need to break the cycle of poverty and inequality.

Our Future UK Vision

“Ultimately we don’t want to exist in the UK”

– Kirsty Erridge, CEO

Within 15 years we would like Raising Future Kenya’s (UK and Kenya) unique, evidence based, approach to Technical and Vocational Education and Training (TVET) to be integrated into Government, NGO and private TVET provision across Kenya – creating better outcomes for young people engaging in TVET.

Our ultimate long term goal is for there to be no need for a UK Raising Futures Kenya. In 15 years we would like RFK UK to be an influential voice and leading example in the UK development sector, advocating for localisation of development work and funding.

We want RFK in Kenya to be fully autonomous, with donors and funders happy to fund them directly, and ideally with unrestricted funding which is the most effective and efficient way to give. We realise this requires a big shift in the UK/Global North funding sector so we are committed to being here for as long as our partner NGO needs us, and the support we offer will be led by their needs and requests.

"If you trust a charity enough to give them funds for a project, why wouldn't you trust them with unrestricted funding?

Either you believe in them, and you trust them as an organisation, or you don't."

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Strategy Update and Plans

2024 Update 2025 Plans
Outcome 1
- Evidence-
based TVET
provision		 Supported our Kenyan partner to commission an
Independent Evaluation of the programme work in
Kenya with the aim of ensuring we are having the
impact we think we are having, and to look for areas
where we can improve or expand. The evaluation
confrmed the impact we thought we were having. It
highlighted some gaps in our Monitoring Evaluation and
Learning (MEL) where we could be capturing more
impact data on diferent indicators. It also highlighted a
need for Business Hubs at each centre (currently in 2).
Supported our Kenyan partner to share the Seed of
Hope programme model with 13 other TVET providers
in Kenya through their training and scaling model.
Monitoring of the impact of the training is still on-going
but so far fndings have shown a decrease in the
dropout rate across all partner organisations.		 Supporting our Kenyan partner NGO to make
improvements to the Seed of Hope training
centres, making them inspiring centres of
excellence.
Supporting our Kenyan partner NGO to expand
their training programme, for other TVET
providers, to include how to implement all
elements of Seed of Hope. Measuring the impact
of the training and success of implementing the
Seed of Hope model in other training centres so
we can share the model more widely.
Outcome 2
- Shifting
Power		 Established Board-to-Board sessions for knowledge
sharing. Our new Chair of the Board in 2024 is based in
Nairobi.
Continued to support the generation of income from
within Kenya by reviewing and advising on funding
applications, and encouraging funders to support the
Kenyan NGO directly.
Supported our Kenyan partner to expand their
fundraising and impact capacity and resources by
securing a grant for the recruitment of a fundraising and
communications role, and a monitoring and evaluation
role. (They were able to fundraise for a new kitchen at
Seed of Hope Kangweni, Kitui solely from funds raised
within Kenya). This will reduce reliance on the UK based
Fundraising and Impact Manager, moving more
operational functions to the Kenyan team, meaning
eventually the UK capacity and resources can be
decreased.		 The UK Board and Kenyan Board working
towards agreed actions and milestones for
Shifting Power, set out in our jointly agreed
Shifting Power Roadmap. Led by the two Chairs,
both based in Nairobi.
Supporting, when/if required, the Fundraising and
Communications Ofcer at our Kenyan partner
NGO to secure grants and donations directly to
them.
Advocating for Global North funders to support
our Kenyan partner NGO directly, rather than
going through us frst. We’ll do this by having
open discussions with current funders, requesting
they consider funding directly, sharing success
stories of other funders who have done this,
including our largest ever funder to date who is
funding our Kenyan partner directly, writing blog
posts and LinkedIn posts to advocate for this
shift.
Supporting, when/if required, the Monitoring and
Evaluation Ofcer at our Kenyan partner NGO to
expand and refne their Monitoring, Evaluation
and Learning in order to be able to widely share
the impact of Seed of Hope.
Outcome 3
-
Diversifying
income		 Recruited a Fundraising and Communications Ofcer,
part-time, to focus on managing the relationships with
our wonderful donors and supporters, and sharing the
stories and impact of the work our Kenyan partners are
achieving, to secure further funding and support.
Developed a partnership to potentially access European
funding in 2025.		 Interim CEO to focus on establishing corporate
partnerships.
Head of Fundraising and Impact to focus on larger
grants and European funding.
Fundraising and Communications Ofcer
managing grant portfolio for smaller grants.

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Finance report

Income between 1st January - 31st December 2024 was £220,527. Expenditure for the year was £225,635. Last year we moved to accruals accounting, which means income received in 2024 but to be spent on projects in 2025 have been accounted for as accruals.

£170,832 was spent on charitable activities which accounts for 76% of expenditure. The remainder was spent on necessities such as: fundraising (18%) - generating funds in order to deliver the charitable activities and reporting to funders on how those funds were used and governance and overheads (6%) which includes essential functions such as managing the finances, annual independent examination of accounts, insurance and adhering to our statutory obligations to ensure the charity is run professionally. We do not have an office in the UK; all UK staff are part-time and work from home to reduce overhead costs.

The Charity Trustees received no remuneration for their work as Trustees, but they can be reimbursed for travel expenses in line with our expenses policy (not applicable in 2024).

Reserves Policy

It is the policy of Raising Futures Kenya to maintain the unrestricted reserves of the charity at a level sufficient to meet its committed spend, management, administration & support costs for a period of 3 months. The ‘reserves’ are unrestricted funds not committed or invested in tangible fixed assets and are split between UK and Kenya accounts as appropriate. In the UK we held unrestricted, designated reserves at the end of the year to cover 3 months UK running costs, which was £22,451.

Risk Management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the Charity and continue to review systems to mitigate the Charity’s exposure to major risk.

Public Benefit Statement

The Trustees of Raising Futures Kenya confirm that they have complied with the duty contained within the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. Our Annual Report details how we have delivered our purposes for public benefit.

Safeguarding

The safety and wellbeing of the students, community, volunteers and staff we work alongside is our top priority. We have a comprehensive Safeguarding Policy and set of procedures. All Kenyan staff undergo an annual safeguarding training course and our Senior Leadership have completed training in the implementation and management of safeguarding in the humanitarian sector. We have a Safeguarding Lead on the Board, Tom Quayle tom@raisingfutureskenya.org.uk.

Trustee Recruitment

Trustees are openly recruited, and then approved by current Trustees after a trial period of 3 months.

We'd like to take this opportunity to thank all of our dedicated supporters and donors. Without your commitment and generosity, we wouldn't be able to continue our much-needed work supporting young people in Kenya to build their own rewarding future. Thank you.

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REGISTERED CHARITY NUMBER: 1181670

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RAISING FUTURES KENYA

F1 CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD

RAISING FUTURES KENYA

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 13

RAISING FUTURES KENYA

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charitable objects are:

1.To develop the capacity and skills of socially and economically disadvantaged children and young people in Kenya in such a way that they are better able to identify and help meet their needs and to participate more fully in society.

2.The prevention of poverty (or financial hardship) among children and young people in Kenya by providing or assisting in the provision of education, training, and all the necessary support needed to enable individuals to generate a sustainable income and be self-sufficient.

3.To promote sustainable development for the benefit of the public by:

a).The relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities.

b).The promotion of sustainable means of achieving economic growth and regeneration.

Sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

Significant activities

Details can be obtained in the attached report.

Public benefit

Details can be obtained in the attached report.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Raising Futures Kenya breaks cycles of poverty and inequality through quality education, skills training, and wellbeing support. Focusing on children and youth, especially girls, we help them gain skills, qualifications, and confidence for employment or entrepreneurship. We partner with a Kenyan NGO, who deliver free, community-led vocational training, business skills, and wellbeing programmes.

Fundraising activities

Details can be obtained in the attached report.

FINANCIAL REVIEW

Financial position

Details can be obtained in the attached report.

Reserves policy

Details can be obtained in the attached report.

FUTURE PLANS

Details can be obtained in the attached report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Charity constitution

The charity was registered as a Charitable Incorporated Organisation on 22 January 2019.

Page 1

RAISING FUTURES KENYA

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

Details can be obtained in the attached report.

Safeguarding

Details can be obtained in the attached report.

Risk management

Details can be obtained in the attached report.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1181670

Principal address

Community Base 113 Queens Road Brighton East Sussex BN1 3XG

Trustees

A King (resigned 19.8.24) O Geymond (Deputy Chair) M Doris (resigned 10.12.24) D Bunter-Jayasuriya M Kuthiala D Russell D Kimathi (resigned 19.8.24) J Fleming L Armstrong (appointed 1.11.24) S Tanner (Chair) (appointed 1.11.24) T Quayle (appointed 1.2.25) C Muzonzini (appointed 1.2.25) K Rafter (appointed 1.2.25)

Independent Examiner

Christopher Robert Tyler FCA DChA FCIE F1 CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD

Bankers

Barclays Bank Tamworth Business Centre 24 Middle Entry Tamworth B79 7NJ

Founders

Mrs V Packard Rev J Packard

Page 2

RAISING FUTURES KENYA

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS

CEO

Kirsty Erridge

Email

hello@raisingfutureskenya.org.uk

Website

www.raisingfutureskenya.org.uk

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 19 May 2025 and signed on its behalf by:

C Muzonzini - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RAISING FUTURES KENYA

Independent examiner's report to the trustees of Raising Futures Kenya

I report to the charity trustees on my examination of the accounts of Raising Futures Kenya (the Trust) for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of the Trust 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 the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and 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.

Christopher Robert Tyler FCA DChA FCIE

F1 CRT Limited Flat 24 Wellingtonia Court Laine Close Brighton East Sussex BN1 6TD

29 May 2025

Page 4

RAISING FUTURES KENYA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
89,123
Charitable activities
5
Charitable activities
-
Other trading activities
3
32,374
Investment income
4
703
Total
122,200
EXPENDITURE ON
Raising funds
40,233
Charitable activities
6
Charitable activities
29,547
Administration
9,850
Overheads
1,830
Support costs
2,890
Total
84,350
NET INCOME/(EXPENDITURE)
37,850
Transfers between funds
13
(24,837)
Net movement in funds
13,013
RECONCILIATION OF FUNDS
Total funds brought forward
92,655
TOTAL FUNDS CARRIED FORWARD
105,668		 Restricted
funds
£
240
98,087
-
-
98,327
-
141,285
-
-
-
141,285
(42,958)
24,837
(18,121)
18,121
-		 2024
Total
funds
£
89,363
98,087
32,374
703
220,527
40,233
170,832
9,850
1,830
2,890
225,635
(5,108)
-
(5,108)
110,776
105,668		 2023
Total
funds
£
77,667
129,326
39,083
189
246,265
32,888
166,938
7,619
1,589
3,525
212,559
33,706
-
33,706
77,070
110,776

The notes form part of these financial statements

Page 5

RAISING FUTURES KENYA

BALANCE SHEET

31 DECEMBER 2024

Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
11
-
Cash at bank
181,018
181,018
CREDITORS
Amounts falling due within one year
12
(75,350)
NET CURRENT ASSETS
105,668
TOTAL ASSETS LESS CURRENT
LIABILITIES
105,668
NET ASSETS
105,668
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-		 2024
Total
funds
£
-
181,018
181,018
(75,350)
105,668
105,668
105,668
105,668
-
105,668		 2023
Total
funds
£
13,906
150,123
164,029
(53,253)
110,776
110,776
110,776
92,655
18,121
110,776

The financial statements were approved by the Board of Trustees and authorised for issue on 19 May 2025 and were signed on its behalf by:

C Muzonzini - Trustee

The notes form part of these financial statements

Page 6

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)', Financial Reporting Standard FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act. The financial statements have been prepared under the historical cost convention.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The Trustees consider there are no material uncertainties about the charity's ability to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from donations is accounted for as received by the charity. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. The value of voluntary work is not included in the financial statements.

For legacies, entitlement is taken on a case by case basis as the earlier of the date on which: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. If the legacy is in the form of an asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to the value of the asset being able to be reliably measured and title to the asset has passed to the charity. Where legacies have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Donated goods

Donated goods and services have not been recognised in these financial statements as it is not practicable to do so and the cost outweighs the benefit.

Pensions.

continued...

Page 7

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
Gift aid
3.
OTHER TRADING ACTIVITIES
Fundraising events
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Charitable activities
Grants received, included in the above, are as follows:
Allan and Nesta Ferguson CharitableTrust
The Archer Trust
The Ashworth Charitable Trust
Austin Bailey Foundation
Brian Mercer Trust
British Foreign School Society (BFSS)
Bryan Guinness Trust
The Chalk Cliff Trust
Coles-Medlock Foundation
Common Grounds
The De La Rue Charitable Trust
Dorfred Trust
Dunfermline Rotary Club
Eleanor Rathbone Trust
The Father O'Mahoney Memorial Trust
Fonthill Foundation
The Fore
The Grace Trust
The Ian Askew Charitable Trust
The Mirianog Trust
Carried forward		 2024
£
80,200
9,163
89,363
2024
£
32,374
2024
£
703
2024
£
98,087
2024
£
-
-
4,000
-
10,000
-
2,000
5,000
10,000
1,000
3,000
-
1,500
1,000
-
33,000
438
-
500
-
71,438		 2023
£
74,564
3,103
77,667
2023
£
39,083
2023
£
189
2023
£
129,326		 2023
£
74,564
3,103
77,667
2023
£
39,083
2023
£
20,000
5,000
-
1,000
10,000
11,948
6,500
-
-
-
-
1,000
-
-
2,000
30,000
1,200
1,000
-
1,000
90,648

continued...

Page 8

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Brought forward
Love Is Kindness Charitable Trust
The NST Development Trust
Pat Newman Trust
The Rainford Trust
RG Charitable Trust
The Rozelle Trust
The S M B Trust
E Slater Charitable Settlement
Strathspey Charitable Trust
Stichting Climate Impact Foundation
The Souter Charitable Trust
The Sterry Family Foundation
Travers Smith
In addition the following grants have been deferred to 2025:		 2024
£
71,438
-
1,000
1,250
2,688
-
-
1,500
1,000
961
-
15,000
2,000
1,250
98,087		 2023
£
90,648
871
-
-
-
2,000
5,000
-
-
1,000
14,807
15,000
-
-
129,326
2024 2023
£ £
Peter Stebbings Memorial Trust (received in 2023) 8,500 8,500
CB & HH Taylor 1984 Trust (received in 2023) 2,000 2,000
The Fore (received in 2023) 13,361 13,800
Fonthill Foundation (received in 2023) - 15,000
The Dulverton Trust (received in 2024) 30,922 -
Fresh Leaf Foundation (received in 2024) 14,458 -
Borehole Kitui - Individual donations (received in 2024) 1,308 -

6. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Charitable activities
Administration
Overheads
Support costs		 Direct
Costs
£
170,832
9,850
1,830
2,890
185,402

continued...

Page 9

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

8. STAFF COSTS

Staff costs during the year were as follows:

2024 2023
£ £
Wages and salaries 70,377 61,854
National insurance contributions - employer 6,008 5,142
Pension contributions - employer 1,858 2,326
Statutory maternity pay - (11,895)
Employment allowance
 (6,008
)		 (3,067
)




72,235

54,360
Average number of employees 3 3

No employees received remuneration in excess of £60,000 (2023 : none)..

The trustees consider its key management personnel to be the trustees. No employment benefits were paid to the key management personnel.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
75,484
Charitable activities
Charitable activities
-
Other trading activities
39,083
Investment income
189
Total
114,756
EXPENDITURE ON
Raising funds
32,888
Charitable activities
Charitable activities
24,151
Administration
7,619
Overheads
1,589
Support costs
3,525
Total
69,772		 Restricted
funds
£
2,183
129,326
-
-
131,509
-
142,787
-
-
-
142,787		 Total
funds
£
77,667
129,326
39,083
189
246,265
32,888
166,938
7,619
1,589
3,525
212,559

continued...

Page 10

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
funds
£
£
NET INCOME/(EXPENDITURE)
44,984
(11,278)
RECONCILIATION OF FUNDS
Total funds brought forward
47,672
29,398
TOTAL FUNDS CARRIED FORWARD
92,656
18,120
10.
INDEPENDENT EXAMINATION
Support costs include £1,440 in respect to the Independent Examination for 2024.
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Social security
-
Amounts due from restricted
fund
-
-
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Social security and other taxes
2,664
Other creditors
697
Amount due to unrestricted fund
-
Accruals
1,440
Deferred grants
70,549
75,350
13.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.24
in funds
funds
£
£
£
Unrestricted funds
General fund
92,655
37,850
(24,837)
Restricted funds
Seed of Hope
(12,343)
(41,089)
53,432
Nairobi Build
29,164
(824)
(28,340)
Kariti Agribusiness
1,300
(1,045)
(255)
18,121
(42,958)
24,837
TOTAL FUNDS
110,776
(5,108)
-		 Total
funds
£
33,706
77,070
110,776
2023
£
1,563
12,343
13,906
2023
£
-
170
12,343
1,440
39,300
53,253
At
31.12.24
£
105,668
-
-
-
-
105,668		 Total
funds
£
33,706
77,070
110,776

continued...

Page 11

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Seed of Hope
Nairobi Build
Kariti Agribusiness
Kenya Fundraiser Role
TOTAL FUNDS		 Incoming
resources
£
122,200
81,149
16,740
-
438
98,327
220,527		 Resources
Movement
expended
in funds
£
£
(84,350)
37,850
(122,238)
(41,089)
(17,564)
(824)
(1,045)
(1,045)
(438)
-
(141,285)
(42,958)
(225,635)
(5,108)

Comparatives for movement in funds

At 1.1.23
£
Unrestricted funds
General fund
47,672
Restricted funds
Seed of Hope
-
Nairobi Build
22,313
Kariti Agribusiness
7,085
29,398
TOTAL FUNDS
77,070
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
114,756
Restricted funds
Seed of Hope
80,309
Nairobi Build
50,000
Kariti Agribusiness
-
Kenya Fundraiser Role
1,200
131,509
TOTAL FUNDS
246,265		 Net
movement
At
in funds
31.12.23
£
£
44,983
92,655
(12,343)
(12,343)
6,851
29,164
(5,785)
1,300
(11,277)
18,121
33,706
110,776
Resources
Movement
expended
in funds
£
£
(69,773)
44,983
(92,652)
(12,343)
(43,149)
6,851
(5,785)
(5,785)
(1,200)
-
(142,786)
(11,277)
(212,559)
33,706

continued...

Page 12

RAISING FUTURES KENYA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

13. MOVEMENT IN FUNDS - continued

The purpose of each restricted fund was as follows:

1.Seed of Hope - For the Seed of Hope vocational training and education project in Kenya (spend every year).

2.Nairobi build - For the construction and equipping of a new training centre in Nairobi (to be spent in 2023, 2024).

3.Kenya Fundraiser Role - Grant for a fundraiser staff position in Kenya (to be spent in 2024, 2025 and 2026).

4.Kariti Agribusiness - Training project on agriculture in Kariti Seed of Hope centre (to be spent in 2023, 2024).

5.Borehole Kitui - Building a borehole in Kitui (to be spent in 2024, 2025).

6.Kariti Kitchen - To build and equip a kitchen in Kariti Seed of Hope Kitchen (to be spent in 2025).

14. RELATED PARTY DISCLOSURES

During the year the charity engaged the services of Sam Perry Daily Bread Consultancy to perform marketing work amounting to £1,360 (2023 : £1,200). Sam Perry is the husband of Dee Russell a trustee of the charity.

Page 13