**Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020**
**Registered charity in England and Wales (no. 1182265)**
Exodus Travels Foundation
Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Contents**
||Page|
|---|---|
|Report of the Trustees|3|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Financial Statements|10|
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Report of the Trustees**
The trustees present their report with the independently examined financial statements of the charity for the period 1[st] January 2020 to 31st December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2015).
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered charity name**
Exodus Travels Foundation
## **Registered Charity number**
1182265
## **Date of Incorporation**
28[th] February 2019
## **Principal address**
The Exodus Travels Foundation, DST House, St Mark’s Hill, Surbiton, Surrey KT6 4BH
## **Trustees**
• Chairperson: Peter Burrell (dates acted: 28.02.20 to present) • Treasurer: Richard Isaacs (dates acted: 28.02.20 to present) • Other trustees: Crista Cullen (dates acted: 28.02.20 to present)
**Independent examiner**
Marcus Lovett 78 Beaconsfield Road Surbiton Surrey KT5 9AP
## **STRUCTURE, GOVERNANCE & MANAGEMENT**
## **Governing document, constitution, and organisational structure**
The Exodus Travels Foundation (the Foundation) was registered with the Charity Commission as a Charitable Incorporated Organisation (CIO) on 28th February 2019. As a CIO, the Foundation is governed by its constitution. Under the constitution the trustees are responsible for the overall governance of the CIO and its funds. The responsibility for the daily operation of the CIO lies with the Head of Sustainability and Community at Exodus Travels Ltd. Trustees and the Head of Sustainability and Community meet regularly throughout the year.
## **Trustees**
The constitution provides that there must be at least three and not more than 12 trustees, elected by the existing trustees at a properly convened meeting. Existing trustees were selected for the specific skills and experience each is able to contribute to the Foundation’s governance and delivery of its objectives. In selecting further individuals for appointment as charity trustees, the existing charity trustees must have regard to the skills, knowledge and experience needed for the effective governance of the charity.
In planning the activities of the charity, the trustees have kept in mind the Charity Commission’s guidelines on public benefit and the objectives of the charity.
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Report of the Trustees (continued)**
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Exodus Travels Foundation supports several small projects, organisations and social enterprises in various countries that help fulfil our mission to harness the power of travel to improve life in hard to reach places. This support focuses on community empowerment and conservation and is provided through grants and, where appropriate, exposure to travellers via Exodus Travels Ltd.
Our objective is to increase the public benefit in any part of the world through giving grants and awarding funding for:
**1.** The relief and assistance of people who are the victims of war or natural disaster, trouble, or catastrophe. **2.** The prevention or relief of poverty by providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient.
**3.** The promotion of the conservation, protection, and improvement of the physical and natural environment.
## **Activities**
The Exodus Travels Foundation’s main activities during 2020 are listed below, and delivered through two different grant-making channels:
- 1) Grants made to Non-Governmental Organisation (NGO) partners, to deliver projects and initiatives which meet the Foundation’s objectives, e.g.:
- a. **Kilimanjaro Porter Project:** Grant made to Kilimanjaro Porter Assistance Programme and Robertson Outdoor Bursary, to deliver training and support to porters working on Kilimanjaro.
- b. **Freedom Kit Bags Project:** Grant made to Freedom Kit Bags, to deliver reusable, hygienic sanitary-wear and reproductive health education to remote, rural communities in Nepal.
- c. **Sal & Mahua Schools Project:** Grant made to Corbett Foundation to renovate two disadvantaged schools on the border of Bandhavgarh National Park in India, to improve educational opportunities and to support community conservation efforts.
- 2) Small grants made to individuals and organisations within the Exodus Travels Ltd network (tour leaders, operators, suppliers) who can identify, deliver, and monitor grass-roots community impact initiatives which meet the Foundation’s objectives, e.g.:
- a. **Himalayan Community Project:** Small, community-based initiatives for the support of remote and disadvantaged communities in the Himalaya, identified and facilitated by longstanding Exodus Travels Ltd Himalayan Tour Leader, Valerie Parkinson.
- b. **Community Kickstart Project:** Collaboration with tour operator partners across Africa, Asia and South America to support their communities in the wake of COVID’s economic impact.
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Report of the Trustees (continued)**
## **ACHIEVEMENTS AND PERFORMANCE**
Through the Exodus Travels Foundation’s charitable activity in 2020, the following outcomes and impacts have been delivered:
- **Community Kickstart Project:** 11 community-based initiatives across 10 countries (Africa, Asia and South America), delivered via our local operator and supplier network, including:
- 6,000 hot meals served to school children in Namibia
- 2,500 emergency food parcels distributed on the streets of Kathmandu in Nepal.
- Rainwater harvesting system providing water to a community garden benefitting 360 low income families in Malaysia.
- 75 children given education catch-up classes in Zambia.
- 500 children in remote provided with hygiene and education packs by boat in Laos.
- **Kilimanjaro Porter Project:** We were able to fund:
- Mountain guide training delivered to 10 women through our ‘Mountain Lioness Scholarship’, significantly enhancing their employment and income opportunities.
- Dissemination of COVID health and money management information to 7,000 Kilimanjaro mountain crew.
- Training in farming and food security for 30 mountain crew.
- ‘Leave No Trace’ environmental training for 20 porters, plus a contribution towards a subsequent Kilimanjaro ‘mountain clean up’ involving 411 mountain crew.
- **Himalayan Community Project:** Support of a range of small, community-based initiatives across several villages in the Nepalese and Indian Himalaya, including food provided to 6 residents of remote elderly people’s home during lockdown, felting needles provided to 40 local women for felting projects to support household income and 21 orphaned children provided with food and other essentials.
- **Freedom Kit Bags Project:** Creation and distribution of 200 Freedom Kit Bags (hygienic, re-usable sanitary-wear for women) and delivery of associated reproductive health education classes across several remote, rural Nepalese villages, to reduce stigma around menstruation and reduce corresponding risk of infection.
- **Sal & Mahua Schools Project:** Delivery of the second phase of a multiple year project to renovate two schools in Bandhavgarh, India, which will improve education and facilities for the 1,000 children who attend (building of toilets and kitchens, and solar water pumps to supply the schools with clean drinking water, planting of fruiting tree saplings on school grounds).
- **Fruit Tree Project:** Planting 4,000 fruit trees in Ladakh, to provide alternative income, ground and water security, and carbon removal in this remote, mountainous part of India.
- **Inca Trail Porter Project:** Provision of food parcels to 100 families of our porters and other staff in Sacred Valley/ Cusco during the severe military lockdowns.
- **Learning Centre Project:** Enabling 650 children in an impoverished rural region of Zambia to visit a learning centre and benefit from the educational resources, including computers.
- **Sanitation Project, Laos:** Building 26 household sanitation blocks in Na San, Laos, so that hygiene, safety and dignity for people in the community could be restored.
- **For more detail, read our Foundation Impact Report 2020:** https://issuu.com/exodustravels/docs/founda tion_report_2020_issuu_combined_version__01?fr=sZmUwYzI2Nzk5ODg
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Report of the Trustees (continued)**
## **FINANCIAL REVIEW**
## **Total income**
The Exodus Travels Foundation’s total income from 1[st] January to 31[st] December 2020 was £48,065, of which £28,340 was restricted funding. The primary source of this income were corporate donations from Exodus Travels Ltd (unrestricted) which amounted to £13,528.
## **Total expenditure**
The Exodus Travels Foundation’s total expenditure from 1[st] January to 31[st] December 2020 was £66,464, of which £20,422 was spent on restricted fund activities.
## **Total funds at end of year**
The total funds remaining with the Exodus Travels Foundation at 31[st] December 2020 amounted to £99,519.
## **Reserves policy**
The trustees have reviewed the reserves of the charity and have concluded that to allow the charity to be managed efficiently, but also to react and donate to critical new projects at short notice, £25,000 has been ringfenced to cover this spend.
Actual free reserves at 31[st] December 2020 amounted to £64,519. The trustees consider this a satisfactory level in consideration of forthcoming projects and fundraising activities in 2021.
## **Principle risk and uncertainties**
The trustees have a duty to identify and review the risks to which the charity is exposed. In particular:
- **Avoiding fraud and error** : Ensuring appropriate controls are in place to provide reasonable assurance against fraud and error.
- **Ensuring health and safety** : The health and safety of our overseas partners and beneficiaries is of paramount importance to the charity.
- **Enabling sustainable development:** Our focus is to create positive change for individuals and communities. We seek to select projects which deliver positive impact whilst ensuring long term sustainability.
Approved by order of the board of trustees on 25[th] June 2021 and signed on its behalf by:
R Isaacs **Trustee**
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Independent Examiner's Report to the Trustees of Exodus Travels Foundation**
I report on the accounts for the period 1[st] January to 31[st] December 2020, which are set out on pages 8 to 9.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. that there is further information needed for a proper understanding of the accounts.
## **Independent examiner's statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Marcus Lovett 78 Beaconsfield Road Surbiton Surrey KT5 9AP
25[th] June 2021
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Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## Exodus Travels Foundation
## **Statement of Financial Activities**
## **for the Period 1[st] January to 31[st] December 2020**
|**Notes**
**Incoming resources**
**Incoming resources from generated funds:**
_Voluntary Income :_
Donations
2
**Incoming resources from charitable activities:**
Fundraising activities
**Total Incoming Resources**
**Resources expended**
**Charitable Activities**
**Support Costs**
3
**Governance Costs**
**Total Resources Expended**
**Net Movement in Funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unre-**
**stricted**
**Funds**
**2020**
**£**
16,945
2,780
19,725
45,378
172
492
46,042
(26,317)
90,837
64,520|**Re-**
**stricted**
**Funds**
**2020**
**£**
11,729
16,611
28,340
20,422
-
-
20,422
7,918
27,081
34,999|**Total**
**Funds**
**2020**
**£**
28,674
19,391
48,065
65,800
172
492
66,464
(18,399)
117,918
99,519|**Total**
**Funds**
**2019**
**£**
116,343
63,892|
|---|---|---|---|---|
|||||180,235|
|||||61,983
-
335|
|||||62,318|
||||||
|||||117,918|
|||||-|
|||||117,918|
**The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derived from continuing activities.**
The notes on pages 10 to 11 form part of these financial statements
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Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## Exodus Travels Foundation
## **Balance Sheet At 31[st] December 2020**
|**Notes**
**Current Assets**
Debtors
4
Cash at Bank and in Hand
Creditors: amounts falling due within one year
5
**Net Current Assets**
**Net Assets**
**Unrestricted Funds**
**Restricted Funds**
6
**Total Funds**|**2020**
**£**
**£**
363
99,156
99,519
-
**99,519**
**99,519**
64,520
34,999
**99,519**|**2019**
**£**
**£**
4,980
112,973
117,954
36
**117,918**
**117,918**
90,837
27,081
**117,918**|**2019**
**£**
**£**
4,980
112,973
117,954
36
**117,918**
**117,918**
90,837
27,081
**117,918**|
|---|---|---|---|
||||**117,918**|
|||||
||||**117,918**|
||||90,837
27,081|
||||**117,918**|
The notes form part of these financial statements
The financial statements were approved by the board of trustees on 25[th] June 2021 and were signed on its behalf by:
R Isaacs
## **Trustee**
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Notes to the Financial Statements for the Period 1[st] January to 31[st] December 2020**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. The charity is not registered for VAT, and expenditure is analysed inclusive of VAT where this has been incurred.
The charity has incurred zero support costs from its date of incorporation. Exodus Travels Ltd, a separate legal entity, works alongside the Exodus Travels Foundation and covers the majority of support costs.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity. Bank charges are the only cost categorised under this heading.
## **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 a particular restricted purpose within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for a particular restricted purpose.
## **2. ACTIVITIES FOR GENERATING FUNDS**
|Exodus Travels Ltd
Donations|**Unrestricted**
**£**
13,528
3,417
**16,945**|**Restricted**
**£**
-
11,729
**11,729**|**2020**
**Total**
**£**
13,528
15,146
**28,674**|**2019**
**Total**
**£**
63,938
52,405|
|---|---|---|---|---|
|||||**116,343**|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the period ended 31[st] December 2020. The salary costs of the Head of Sustainability and Community are covered by Exodus Travels Ltd.
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Exodus Travels Foundation Report of the Trustees and Financial Statements for the Period 1[st] January to 31[st] December 2020
## **Notes to the Financial Statements**
## **for the Period 1[st] January to 31[st] December 2020 (continued)**
## **Trustees’ expenses**
There were no trustees' expenses paid for the period ended 31[st] December 2020.
## **4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other Debtors
**. CREDITORS: AMOUNTS FALLING DUE**
Other Creditors
**. MOVEMENT IN FUNDS**
**Unrestricted Funds:**
General Funds
**Total unrestricted funds**
**Restricted Funds:**
General Funds
**Total restricted funds**
**Total Funds**|**WITHIN ONE YEAR**
At 31st Dec
Incoming
2019
Resources
**£**
**£**
90,837
19,725
**90,837**
**19,725**
27,081
28,340
**27,081**
**28,340**
**117,918**
**48,065**|**2020**
**£**
**363**
**2020**
**£**
**-**
Outgoing
Resources
**£**
(46,042)
**(46,042)**
(20,422)
**(20,422)**
**(66,464)**||**2019**
**£**
**4,980**
**2019**
**£**
**36**
At 31st Dec
2020
**£**
64,520|
|---|---|---|---|---|
||||||
||||||
|||||**64,520**|
|||||34,999|
|||||**34,999**|
||||||
|||||**99,519**|
## **5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **6. MOVEMENT IN FUNDS**
## **Purposes of Restricted Funds**
Restricted funds carried over into 2021 relate to the Sal & Mahua Schools and Community Kickstart Projects, the activities for which are being funded across multiple financial years.
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