School in a Bag (A Charttable Company Llmlted by Guarantse) Annual Report and Flnanclal Statements For the Year Ended 31 Oclober 2023 Company Number: 11916624 CharSty R•glstor•d In England and Wales Numbew: 1186357
School In a Bag Contents For the Year Ended 31 October 2023 Contents Reference and Administrative Delaiis Trustees, Annual Report Independent Examiner's Report Statement of Financial ActiVitS 10 Balance Sheet ststeménl of Cash Fk)ws 13 Notes lo thè Financial Slatemenls 14-24 Prepared By Albert Goodman LLP
School In a Bag Reference and Administrative Detsils For the Year Ended 31 Oclober 2023 Trustees and Dlredors F C Bellamy K J Brownhill D J Cooper M O Fasosin W P Hughes D J Hutchinson A J Mackie C A OBrien Chlef Executlve L Sirnon Company Number 11916624 Charity Number 1186357 Prlnclpal Office and Reglstered oifice Home Fami Main Street Chillhorne t)omer Yeovil BA22 8RD Independent Examlner Mhelle Ferris Bsc (Honsl FCA DChA Albert Goodman LLP GdwOod House Blackbr¢)ok Pa Av8nue Taunton Somersel TA12PX Prepared By Albert G0oJM LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2023 The trustees, who are also directors lor the purposes of the Companies Act, present their rewrt and the unaudlled financial slalements of the charty for Ihe year eThJed 31 October 2023. The financial stalemenls have been prepared accordance wilh the accountin9 pOIleS sel out in note 1 10 the financial slalements and Comp wrth the charty's memorandum aThJ articles ol associalion, the Statement of Recommended Practice ISOFIP FRS 102 20191, arn1 are in accordance with the special provlsion rèlating to small companies vthin Part 15 of the Cornpans Act 20. Publlc benefit The Iruslees report that the charitable activiti8s. deribed in the 'Mi&sDn statemenf, °Acllvilieg' and "Achievements and performarKe' paragraphs. are for the publ¢ benèfit. The trustees also eonlirm Ihal they have complied with seCtn 1715) ol the Charities Act 2011 to have due regard to the public ben81il guidance published by the Chartty Commission. Structure, governancè and management School in a Bag is an indepondent charity. Tegistered numtw 1186357 and a company limit&J by guarantee, registered number 11916624. The governirKJ docum8nl ts the merrK)randum a1 artleS ol aswciatKin dated 14 November 2019. Th8 lolkjwing truslees who are also directors for the purposes of company kw, served during the year and since the year end.. F C Bellamy K J Brownhill D J Cooper M O Fasosin lappointed 24 July 20231 W P Hughes lappointed 24 July 2023) D J Hutchinson A J Mackie {apFoinled 24 July 20231 C A O'Brien Under the Tequiremenls ol the Memorandum and Articles ol Association, Ihe truslees are elected to S8rve for a period ol three years aftèT whh they rnust be wlected at the next Annual General MeeliThJ. All Iruslees are already familiar wth the work ol the charty prior to their involvement. Each trustees receNes access to a Trustee InduclKin pack containing linancial and legal information relaling io the charity alongswje a code of conduct and relewdnt FK)licies. None ol the trustees has any benefla1 interest in the company. All of the trustees are members of the company and guarantee lo contribute £1 in Ihe evenl of IK]UKlalK)n ol the company. The trustees attend lJ)ard meeliThJs quartety aThl are responsible tor Ihe Strateg direction and F*Jlicy ol Ihe charity. A separate Financial Sub Committee meets prKsr to the Iruslee meelings lo provide additional linancial scrutiny and guidance. Responsibiif(y lor the manag8m8nl and operation ol the company during Ihe period was enlrusled lo the Chief Executive, L Simon. Prepared By Albert &Jodman LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2023 Purposes and Alms Our charity's purposes as set out in the oty'ects contained in th8 company's memorandum ol association are to.. advance the edUCatn ol chibjren by sh charIlab means as the trustees dechde. The main aim of the charity is to provwje ar¥J distribute SchoolBags containing educational and health supplies lo disadvantaged. poor and disaster affected chibjren arouTrJ the world. increasing educatKJnal allainment arKI attendance at school. Alongside this Ihe charity supports the deveknpment of new school tlId1ThS and tacililies. Our alms fully reflect the wrposes that the charty was set up to further. Ml88lon School in a Bag provide rucksacks lull ol educalDnal. hJne, eating and drinking supplies lo enable disadvanlaged, orphan and p0vety-s1rken chibjren arourKI the VoDrkl lo access an educatK)n. Values Equity- SC)01 in a Bag support chilyren in all countries regardless ol race. lIlic$ or rellgion. Empowerment - The charily works yth kxal partners on the ground, empowering them wllhln thelr communbtles and investing money where it matters nN)st. Tr8nsparency- Every SchoolBag. whether UK Packgj or in-country is numb8r8d and Irackab18 from winl ol donation lo recipient. provKling complele donor transparew. Activrties This financial year was a lantaslic one for both th8 charity and the trading subsKlkqry. The charity continued to focus on Ihe funding arKI d81ivery of SchoolBags lo chikjren working with indiv#Juals, organisalions, groups and corporate entities lo support this vrk. Across the year over 10.CO) SchoolBags were distributed to children in 18 countries using our 'in country. delivery model including Pakistan, Elhiopla, India, Tanzania, Nepal, Ghana. CorM30 IDRCI, Cameroon, Kn9011a, and Th8 Philippin8s. We have also sent our UK Packed SchoolBags lo Kenya, Malawi. Rornania. Poland, Ukraine, Ireland, Ethiopia and Syria. Much of our work this year has Ic¢used on areas impacted by natural disasters. partULdY earthquakes and Ih)oding. In February. the lirst retK)rts of a large 7.8 quake in soulh&m an(J central Turkey and north westèrn Syria filtered across the news channels. In May,1000 schl8ags started their journey lo Syria and our partners Hand in Hand For AYJ and Development via free shipping from Kuehne and Nagel. When news ol the 6.9 earthquake to strike the Marrakesh-sali region broke. we approached our Iwo contacts with links lo the country. Having provided SchoolBags for Lolon-ba$ed Adenbi. (who makes an annual trip back to his homeland delivering aKJ) in the past. our appeal funded 440 SchoolBags for his forthcoming trip lo Morocco in February 2024. Pakistan was devaslated by flooding in both 2022 and 2023. We were keen lo support children impacled by this disaster and secured a granl of jusl under £15k trom The AThJus Lawson Memonal Trusl to distribute Prepared By Albert Q*Jdman LLP
School In a Bag Truslees, Report For the Year Ended 31 October 2022 500 SchoolBags and LifeSlrawE to chikjren in the Brick Kiln school systeffl in Kasur through a new partner, The Education and knfe FourKlatM)n. Our refugee School8ags have continued to be an impjrtanl aspect ot delivery wilh council hubs and refugee 5UPPOrt cenlres helping us lo dislribute SchoolBags across the UK. We also continue lo support displaced Ukrainian families resKling in Poland and Ukraine through The Helping Hand lor Ukraine project, part of Ihe CherrKsbyl Chihjren's Lilelne organizatK)n. They have a slorage facility in AOn, Hampshire where we drop ott UK packed sc118agS which ar8 thèn taken over lo Poland and Ukraine arKI distributed. There i8 huge demand for these as families continue lo seek rele from the war and it will be a continuing priority lor the chaity moving loTh¥ard. For every country and consignment that we furbj. have established and trustworthy partners al Ihe recipient and distribution end of the process. As a small team, this model is the most cost effective and partner empowering method of working. Our partnerships are certainty a l-WaY process.. we rely on their knowledge, lime, passion and patience to implemenl the distribution ceremonies and re)rt back to us and they Tely on our funding to support Iheir programs the children within them. We are indebted lo all of our amazing partners who help us fulfil our MiSsn. Post covid, we saw a resurgerK8 of suppjrt aThJ eTh3agement Irom sc)0, groups and indivkjual fundraisefs. It was wonderful lo relurn lo ChUrcr'S College lo pack 2(M) SchoolBags, proc88ds Irom their day of non-uniforrn and fantastic lo deliv8r assemblies al Guildlord Hw3h Junior Sch1 and Avon House Prep School. In July we packed SchoolBags wtth the departing Yr 8 students al Wunl Kelly Prep School in Tavistock and returned in September to pack 250 School8ags, one tor each stent. The campaign run by Mount Kelly was simply incredible, amassing over £16.000 and is certainly a model Ihal we will use to show how sludenl led ev8nts aThJ ingenuty can achieve fabubus results. It has been a busy year visiting Rotary. Inner Wheel arKI Wl clubs. wrth pres8nlalKJn tim8s of belween 30- 60 minutes, we always welcome being able to gN8 a fuller account of our work demonstrating how we align with the UN'S Sustainable Development Goals and showcasing more of our projects around th8 world. Many ol lh8 audience members fund SchoolBags or buy School in a Bag merchandise al th8 end ol the presenlalw)n which always adds a gk)w to the journey back to HQ. Two wheeled adventures certainly seemed to b& lh8 Ihame for 2023 a$V had fundraisers circumnamgaling the gbbe on bikes, Tiding from Brixton to Brisbane arKJ back again and taking on LEJOG (Land's End to John O'Groals}. rbJing self-supported aThJ completing the challenge in an impressive 9 days. OUT biggest area ol growlh remains corkN)rate supwrt and Y•Tk. During the financial year we continued to work with several corporate organisations lo fund SchoolBags and with one in particular, to continue th8 dèvelopment of a schcKII in Tanzanba, phase 2 of which was completed over the summer. Ten new corporates have been engaged we continue to develop relatKJnships with OUT exisling bng tenn support8rs Fitch, GfK Shearrnan a1 Sterling. The IradirKJ subsKliary delivered the most successlul Trt)me Farrn Feslrval lo dale with 2562 IketS sold and over £IOOk profil made from the 3 day evenl in June. 230 SchoolBags were also packed al the event which were shipped lo Poland lo support Ukranian relugee chiklren. Alongside the packed SchoolBag income of £4.600. an addr(nal £3,426 was raised directly by the charity at Ihe event from text donations. bke1 colleCtnS, adding a £1 to your round, lun Tun entrance fees and donations when purchasirvJ tickets. For the first time tickets for nexl years Home Fam Festival went on sale a week after the end ol the 2023 Prepared By Albert &M)dman LLP
School In a Bag Trustees, Report For the Year Ended 31 Octoter 2023 event whh provided over £39k ol sales lor the 2024 event. There is another planned flash sale in Novomber 2023 and tickets will Ihen go on sale fulty from 01 December. On an operational level. Ihe charty slrenglhened ils governance by carrwng oul a recruitment process lor new Iruslees. Mlentrfying specilic areas ol need in educat)n. marketing and corporate social reswnsibilty in the context of engaging organisations arKI do1)rS and successfulty aptM)inted three new trustees in July. We also ulilised funds over Ihe summer to upgrade our exisling warehouse operation, installing industrial racking, buying an additnal pump twk and hiring a lorklrft Iruck. This has had a huge impact on the charities ability lo hold slocK enabling us lo buy larger amounts at better prices and also streamlined the packing and preparing processes whh are ably managed by our bng term a1 invaluable volunleers. Achlevemenls and perforniance The charity is partularlY proud of the folloving achven1S over the period :. Welcomirwj Ethp2 and Poland as Ihg 55" and 56th country Ihal Ihe charty IrkS in abngside the delivery ol SchoolBags to ather new country. Pakistan. to chiklrèn affected by the horrific Iloods which swept through the country in 2022 and 2023. Delivering in excess of lo.0 SchoolBags in 18 countries during the year The delivery of the mosl successful Home Farm Feslival lo dale, Home Fami Festival 16 through the charity's Irading subsKliary. The appointment of three new Iruslees lollowlng a rwwrous rUitment process. The addition of 10 new corkK)rale partners. Flnanclol revlew The charity generated incom@ 01 £607,678 ot whh £277,422 was reStr1@d12022- income of £317,937 01 whh £9,878 was resITted}. With expendrture of £385,241 12022 - £263.3131. this lead to a surplus for the year of £222.437 12022 - £54,624). Net assets as at the etKI of the financial year were £395,46912022 - £173,032). Included in income for the year is a restricted donalK)n of £242,5Crt), whh will flow through entirely lo another charity. As at the year end. only £65.000 had been distributed, resulting in a surplus on Ihis fund of £182,SLK), which will te spent in the next financ1 yèar. This does distort Ihe figures noted for the year, with the surplus lalling lo £39.937 and net assets TlUcIng to E212.969 without this unusual funding. Reserves pollcy Thèrè is currenlly no formal reserves wrY in pkce however the Trustees have agre8d in principle lo hold a minimum ot 3 months operating costs for the charty as reserves wrth a target to achieve 6 mnlhs. An eslimalion ol the costs of operating the charity lor 6 months {being £142,000) has been put asKle as designated I018 in the account5- the Trustees believe that this reserve would be rSary to organise a orderly wind down of the charity should r( be required. In addilion, the charity has desb3nated lunds for a partlar projecl whh did not meet the delinilDn for restricted, bul thè Trustees wish to honoui Ihe inteNled purrK)se of the donalK>n. The free reserves of the charity amounted lo £212.969 on 31 October 2023. After the designated costs rM)led above are taken account ol, the charity hokls £86,969 in tree reserves - which the Trustees intend to reinvesl in the operations ot the charity, provldirKJ flexibilty with regards to the projects supported. Prepared By Albert GOc¥JM LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2023 Future plans The charity commenced a business planning process in October a)23 whrh will carry on inlo 2024 with a view to prowding structure to the charily and trading companies acliwiies in the coming years. This will focus on growing awareness of the charities V•Y)rk and irreasing income. The charlty will conlinue to focus on the distribution ol SchoolBags to children in need around the world. For 2023 10 2024 financial year the charity has prK)rrtised the lolbwing . The continued SUprt of refugee and displaced chikjren th in the UK armj arouThJ the wortd with Refugee SclN)olBags The dislribulion o110,(KX) SchoolBags to chiklren in need The continual of building ol school facilities in Tanzania with a corporate partner, Inslem The developmenl of a leacher training centre in Kalhmandu, Nepal with partner Global Learning and Educators Nelwork Nepal Rlsk management The organisation has a risk register and Tisk policy in place. The trustees have consijered the major risks to whh the charity is exwsed. The Trust8es actiV81y r8VI8W. and UFKlale systems and procedures to manage perceNed risks approprialety. ppad By AIW LLP
School In a Bag Truslees, Report For the Year Ended 31 October 2023 Statement of Trustees. Responslbllltles The Iruslees (who are directors of School in a Bag for the purposes ol (x)mpany kw) are responsible lor preparing the Trustees, Annual Rewrt lincorwraling the Direclors. Report) and the linancial slalemenls in accordance with applicable law and Uniled Kingdom AccountirvJ Standards. including Financial Reporting Standard 102 The Financial Reporting Standard appIable in the UK Republic ol Ireland (United Kingdom Generally Acc8Pted Accounting Praclicel. Company law requires the trustees to prepare financial slalements lor each linancial year which give a Irue and lair view of the stale of affairs of the charitable company a1 the income and experKITture of the charitable company for that perv)d. In preparing these financial slalemenls. the trustees are required lo.. select suilable accounting poIleS and then apply them consislenUy- observe the melhods and prinCipS in the charitS SORP: make judgments and eslimales Ihal are reanable and prudenl- slate whether aPpIable UK Accounting Standards have been lolbwed, subjecl to any material departUTes discbsed arkl expk2ined in the linala1 statements, and prepare Ihe financial statements on the going concem basis unless it ts inapproprlale lo prgsum8 that the charitsble company will continue in business. The trustees are reswnsible for keepiThJ ad&]uate lunti records that di1058 wmh reasonable accuracy al any lime the financial poSitn ol the charitable cornpany and enab them lo ensure that th& financial statements comply with the Companies Act 2006. They are also respK)nsible for safeguarding the assets ol the charitable company and hence for laking reasonable sleps for Ihe prevenlion and detection of Iraud and olhei irregularilies a1 are responsible for the fflainlena aThJ integrity ol the corFKJrale and financial information on the CharY'S website. Sign1 by order ol Ihe trustees on ..2. 21011.2 LF. K J Brownhill Trustee Prepared By Albert Gocdrn LLP
School In a Bag Independent Examiners, Report to the Trustees For the Year Ended 31 October 2023 Independent examlner's report to Ihe Irustees of Sch¢)ol In a Bag I report to the charity Irustees on my examination ol the accounls ot Sc1Kl in a Bag Ilhe Company.) for the year ended 31 October 2023. Responslbllltles and ba818 of report As the charity's trustees of the Company la1 also its directors for the purwses of company lawl you are responsible lor the preparatKJn of the accounts in accordance with the requiremenls ol the Companies Act 2006 {"Ihe 2006 Act.). Having satisfied myself that the accounts of the Company arg not required to be audited ver Part 16 01 th8 2006 Act and are eligibb lor independent examination. I retM)rt in respect ol my examinalion of your charity's accounts as carried out under section 145 01 the Charilies Act a)11 Ilhe 201 l Acri. In carrying out my examination I have followed Ihe Directions given by the Charily Commission under section 14515llbl of the 2011 ACL Independent examlnerfs ststement Since the Company's gross income exceeded £250.0 your examiner musl be a member of a body Ilsted in section 145 01 the 2011 Act. I confirm that l am qualitied lo undertake the examinatTron because l am a member of the Institute ol Chartered Accounlanls in England and Wales, which is one of the lisled bodies. I have completed my examination. I conlirni Ihat no material matters have me to my attent in connection with the examination giviNJ m8 cause to believe that in any material respect-. 1. accounlir¥J reoords were nol kepl in respect of th8 Company as required by section 386 01 the 2006 2. the accounts do not comply with these rIds. or 3. the accounts do not comply with the accounliTh3 requir8rn8nts of seclion 396 01 the 21KkS Act other than any requirement that the accounls give a 'Xrue and fair which is not a matter considered as part ol an indepeNJent examinatM)n-. or 4. th@ accounts have not been prepared in aoxx)Idance with the metFM)ds and prilpleS of the Slatemenl of Recommended Practi for accounting and rewrting by charities applicable lo charities preparing their accounts in accordance With the Financial Reporting Standard applicable In the UK and Rgpublic ol Ireland (FRS 102)- I hav8 no concerns and have come across no other matters in conneC1n with ihe eXaMinatn to which attention shoukl be dravrn in this rert in order to enable a proper understarKJKig ol the accounts to be reach Michelle Ferris Bsc (Honsj FCA DChA Albert Goodman LLP Chartered Accountants Goodwood Hotsse 8lackbTook Park Avenue Taunton Somèrs&t TA1 2PX Ptepared By Albert Goodm LLP
School In a Bag Statement ol Financial Aclivtties (induding In)rne & ExperKliture account) For the Year Ended 31 October 2023 2023 Tolal 2022 Tot81 Unr Notes irfcted Unrepr trlded R& strlcted stricted Income Grants and thnalions Charitable acliwiies Other trading activiles Management charge irKom8 284,534 277.422 561,956 571 6,757 38.394 252,869 16,369 1.892 36.929 9,878 262,747 16,369 1,892 36,929 6.757 38.394 Totsl income 330,256 277,422 607,678 308,059 9,m 317,937 Expendlture Raising funds Charitable aclimiies 841 252.594 841 9,878 262,472 290.03S 94.922 384.957 Total expendlture 290,319 94.922 385.241 253,435 9,878 263,313 Net Income l (expendItu) for the year before transfers 39.937 182,SCrf) 222,437 54.624 54,624 Transfers 25,268 125,268) Net movement in funds 39,937 181500 221437 79.892 (25,268) 4624 Reconclliation ol funds Total furkls biought forward 173.032 173.032 93,140 25,268 118.408 Total funds carrled forward 212,969 181500 395,469 173,032 173,032 The results for the year derive trom continuing actiwties aThJ there are no gains or bsses other than those shown at#)ve. The stalemenl of linancial actNities inco1rateS the incorne and expenditure account. Prepared By Albert Gotsjfflan LLP 10
School In a Bag- Company Registratlon Numbw: 11916624 Balance sheet As at 31 October 2023 2023 2022 Fixed assets Tangible fixed assels Investments 3,962 2,788 3,963 2,789 Current assets Stock Debtors Cash at bank aThJ in hand 72,928 28.129 315,386 18,503 1.309 158,725 416,443 178.537 Cfedltors Amounts falling Wit.n one year 10 124,9371 18,2941 Net current assets 391,gJ6 170,243 Net assets 395,469 173,032 Funds Restricted funds 11 182,5(M) Unrestrlcted funds Designated luTrJs Unreslricled funds 11 11 126,(K 156,473 16,559 212,%9 173,032 Totsl charity funds 395,469 173,032 Prepared By Albert &oJman LLP 11
School In a Bag - Cornpany Registrnlion Number: 11916624 Balan sheet As al 31 October 2023 These accounts have been prepared and delivered in accordance with Ihe special provish)ns relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of IrelarHJ IFRS 102). For the year ending 31 October 2023 the cofflpany vrds errtit lo exemption under seclh)n 477 01 Ihe Companies Acl 2rTh relaling lo smau companies. The members have nol required Ihe company lo obtain an audit in accordance wilh section 476 of Ihe Companies Act 20C6. The directors aCknowge Iheir responsibilities lor complyirvj with the requiremenls of the Acl with respect lo accounling records and the preparats'on ol accounts. Approved by the Board for issu8 on .17 l 01114- and sKJned on its behall by: K J Brownhill Trustee D J Hutchinson Trust88 Prepared By Albert G)Jdman LLP 12
School In a Bag Statement of Cash Flows As at 31 October 2023 2023 2022 Notes Cash flows fr¢xn operatirvJ activities Net expenditure for the year Adjuslmenls lo cash tk)ws from non-cash items: Depreciation and amortisatwjn 222.437 54,624 2.492 1,493 224.929 56.117 Working capttal adjustmenls Decrease I lincreasel in stocks Decrease I lincreasel in debtors Increase I Idecreasel in creditors (54,4251 126,8201 16,643 9,176 16601 {18,3401 10 Nel cash flow from operations 160,327 46,293 Cash flows from Investing aclivilies Purchase of tangible fixed assets (3.666) 13,666) N8t increase In cash arNJ cash equivalents 156.661 46.293 Cash and cash U1Valents al the beginning of the reportirwJ period 158.725 112.432 Cash and cash equivalenls al the end of the reporting rK)d 315,386 158,725 Cash & Cash equivalgnls recorlation". Cash at bank 315.386 158,725 Total cash & cash equbvalents at the 8nd ol th8 reportiNJ period 315.386 158.725 Prepared By Mbert Gocdman LLP 13
School In a Bag Notes to Ihe Financial Stalements For the Year Ended 31 October 2023 Accounting policles General inlormatlon and basls of accountlng School in a Bag is a company limtted by guarantee incorwrated in the United Kingdom under the Companies Act. Each member ol the charity utxlertakes to contribute a maximum of £1 to the charity's assets if il shoukj be wound up Whi they are a member or wtthin one year after they cease to be a member. The address ol the registered olle is given on page 2. The nature ol the chartty s operations aThJ its principal activities are set out in the Trustees Rewrt on pages 3-7. The financial statemenls have prepared on the histor1 cost basis aThJ in aCCordare with the accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance yth the Financial Reporting Standard applicable in the UK and Republ ol Ireland (FFIS 1021 (èffective 1 January 2019)- (Charites SORP IFRS 10211 and the Companies Act 2006. The charity meets the delinilw)n ol a publ benefit enlty under FRS 102. Assels and liabilitS are inilHlly recognised al histoal cost or transaclijn Value unl8SS Otherwse slated in the relevanl accountiw poIy. The Truslogs of School in a Bag have rewewed the tK)silion ol the trading company, School in a Bag ITading Ltd. and havè determined thal il meets Ihe conditbns necessary to be considered a subsKliary ol Ihe Chadty, however, the charity is part of a small group and Ihe charty has taken advantage of the exemption provaled by seCtn 398 of the Companies Act 2006 arKI the Charities Act 2011 and has prepareo group accounts. 1.2 Golng concem The trustees assess whether the use of going concern is appropriate i.e. Ythether there are any material unCertaintS related lo èvents or corKlitwJns that may cast snIfnI doubl on the ability ol the company to continue as a going concem. The Irustees make this assessment in respect ol a perw)d of al least one year from Ihe date of authorisatn for issue of the financial slatemenls and hav8 concluded that the charity has adequate leUrceS to continue in operational exislence lor th8 foreseeable future and there are no malerial uncertainlies abjul th8 charrty's ability lo continue as a going concern, thus they continue to adopt the going COnM basis of accountin9 in preparing thg linancial statements. 1.3 Income IroMe from donations is rQgnI1 in Ihe accounls when receNable and the amount can b8 reliably measured. Income from grants is accounted tor wfien unconditnallY due aThJ reasonable assurance can be gained that rt will be received. Income from investments is recc¥3nised in the accounts when receivable. Prepared By Albert GoDJm LLP 14
School In a Bag Notes to the Financial Statements For the Year Ended 31 Oclober 2023 1.4 Expendilure Expenditur8 is accounted for on the accruals basi8. Liabilities are recognised in the accounting P8riod lo which they relate. Governa costs comprise all costs invoMTh3 the publ accountabilty of th8 charity and its compliance with regulatn and goLxJ practice. 1.5 Flxed assets Fixed assets are valued al cost less depreciatn. No assets are capitalised under £1,(N)O. Depreciation is cakulaled to vffile oll the cost or valuat#)n of lixed assets over their estimated useful lives at the following rate-_ Motor V8hl&S Fixtures & Fittings Equipment 25% straighl line 33•A straight line 25% strai9ht line 1.6 Investment in subsidlarles The investmenl in the share capital of the charity's subsmjiaries is staled at cost. Any bans lo or from tho subsidiary are slated al the value oulstandiNJ at th8 year end. 1.7 Debtors Other debtors are rognISed al the settlement a)Unt due and prepayments ar8 valuéd al the amount prepald. 1.8 Cash at bank and In hand Cash at bank aThJ in hand compromise cash on hand and cal dewsits that are readily convertibl8 10 a known avrK)unt ot cash and are subject to an ins#JnifanI risk of chawe in value. 1.9 Credltors Creditors and provisK)ns are reco3nise(i where the charity has a present oblallOn resulling from a past event that will probably resull in the transleT ol funds lo a third paty and the amount du8 to sellle the obl*Jation can be measured or eslimaled reliabty. Credllors are recognised at their settlement amount. 1.10 Taxallon The company is a regisleied charity and is therefore nol liable lo corporallon lax to the extent that income and gains are applied lor charitable purwses. 1.11 Fund ac¢ounllng General funds are unrestricted funds receivable or generated for the obj.ecls ol the company without further specified purpose arKJ are available as general funds. Reslricled funds are lo be used for specrfic purwses as lawj down by the donor. Expenditure bthich meets this CrItern is charg8d lo the fuTrJ. together wilh a tair albcath)n of management and support costs. 1.12 stocks Stocks are valued at the cosl and net realisabFe value. after making due allowance lor obsolele and slow-moving items. Prepared By Albert &)odman LLP 15
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2023 1.13 Finandal Instruments The charity onty holds basic financial instrumenls as delin&J in FRS 102. The linancial assels and liabilities ol lh& charity and their measurernents are as follows.. Financial assets- trade and olher debtors are bas linancial instruments and are debt instruments measured al amortised cost. prepalents are not linancial instruments. Cash al bank- is classrfi8d as a basic linancial inslrumenl aTrJ ts measured al face value. Financial liabililies - trad8 credbtors. accruals and other creditors are financial instruments. and are measured al amortis&J cost. TaXan arxl social security are nol included in the linancial instruments disclosure delinit*Jn. Deferred income i8 fK)t deemed lo be a linancial liability. as the cash s8ttlement has already taken place and there is an obligati)n to deliver services rather than cash or anolher financial instrument. PTepared By Albert GOc•jm LLP 16
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2023 2 Granls and donatlons Unr trlded Res- trScted Total Unres- Res- 2023 trlcted Irlcted Total 2022 Grant incom8 Damd and Ruth Levms Family Chanty Angus Law Vemorial Trust Community Foundation for IrÈlarKI 20,0(NJ 20.OQMJ 14.922 14.922 7,8¥d 9,878 9,878 8,155 7.8ZJ 8,155 Donation$ Other donab'ons Gill aid 224.322 52.389 195.C 419.322 230,171 47.5(Kl 99,889 14,543 230,171 14,543 284,534 277.422 561.956 252.869 9.878 262.747 3 Charltable actfvltles Tolal 2023 Unres- Res- Irlcled trlcted Total 2022 tricted tricted Events income 571 571 16.369 16,369 571 571 16,369 16,369 Prepared By Albert G(K#Jm LLP 17
School In a Bag Noles lo the Financial Stalements For the Year Ended 31 October 2023 4 Direct charitable expenditure Unres- Totsl Unres- 2023 trlcled trlcled Total 2022 Iflcted Grants to instilutins - to deliver schwl bags - to deliver Piojecl Glenn Other donations School bag costs Wages Slalf costs Rent InSUrae Admin costs Printing, statk)nery etc Computer software Sundry Accounting sollware lee Advertising and promotional Subscriptions aThJ memberships Telephone & intemet Equipment hire and maintenar Vehicle costs Eleclricily offi supplies Other professional seNces Accountsncy fees Bank charges Depreciation 11XJ,438 29.922 130,3eii 65.( 65.0(KJ 1.726 58,879 75.372 1.794 3.625 1,454 827 1,211 1,168 721 569 1,808 505 979 1.181 3.962 4.105 260 21,604 3.960 1.320 2.567 71,735 71,735 1.726 58,879 75.372 1.794 3,625 1,454 5,111 57,101 73,568 2,758 5.111 66,979 73.568 2.758 2.400 1,250 707 9,878 1,250 707 1.211 1,168 721 344 323 1.590 1.369 1,042 323 1,590 1.369 1,042 1.W8 979 1.181 3.962 4.105 5.956 804 5.956 346 18,993 3.954 1.165 1.493 21.604 18.993 3.954 1.165 1.493 1.3 2.567 290.035 94.922 384.957 252.594 9.878 262,472 Ptepared By Albert Goc*Jman LLP 18
School in a Bag Notes to Ihe Financial Statements For the Year Ended 31 October 2023 5 Wages and salaries 2023 2022 Wages and salaries Social security costs Pension 67,000 6,736 1,636 65,693 6.278 1.597 75,372 73,568 No individual employee was paid over £60.(MJ) {2022: none). The key management personnel ol the charity is consKJeTed to be the chi8f 8xecutive. The lolal costs to the charity of empbyee benefils tor Ihe koy management personnel w8re f39.43812022'. £38.7851. The average numb8r of empby8es lor the year was as l01k)v. 2022 Number of staff In addItn to remuneration diloSed aVe. reimbursements have been made to key managemenl personnel amounting to £7.730120¥2- for rent and ulililies. 6 Net incomlng resources before transfers 2023 2022 This is staled aftei charging.. Depreciation Accountants remunwation - iThJependent examinalon- currenl accountants - acCountarY tee - current accountants - olher- weNityJs accountants 2,492 1,493 600 2,160 1,194 Prepared By Albert GOCdm LLP 19
School In a Bag Noles to the Financial Statements For the Year Ended 31 OctotEr 2023 7 Tanglble assets Molor Vehlcles Flxtures & fittlngs Equlpment Tot Cost Asa101.11.2022 Addrtions 5,160 616 1.020 5,776 As at 31.10.2023 5.160 9,442 Depreciation Asat01.11.2022 Charge for year 2,988 2.492 1,290 540 As at 31.10.20¥J 3.870 948 5.480 Nèl book value As at 31.10.20¥3 1,290 1,984 As at 31.10.2022 2,580 208 2,788 Prepared By Albert Goc*Jman LLP 20
School In a Bag Notes to the Financial Ststements For the Year Ended 31 October 2023 8 Investmenl 2023 2022 Shares in subsidary undertakings School in a Bag TradiThJ Ltd (company number 1 86360) was wicorporaled on 6 January 2020 as a wholty owned subsidiary of SclM)ol in a Bag. The parent chartty ho5ds 1 OOV• ol the issued share capital and 10010 ol the voting rights ol the subsidiary trading company. The company was domiant unlil 31 October 2021 and began traditV3 on 1 November 2021. The summarised results of the tradirwJ subsidiary are given below: 2023 2022 Turnover Cost ol sales 3JS.986 197.0931 160,425 177,6571 Gross profil Administrative expenses 108,893 147,6931 82.768 {40,1391 Operating prolit 61,200 42,629 Profit before taXatn 61.200 42.629 Profit for the financial ypar Retained eamings brought forward Gift Aid lo School in a Bag 61,200 42,629 142,6291 42,629 Aelained earnings Carried forward 61,1 42.629 The aggregate of the assets. liabilities. wrtal. aTrJ reserves was.. Assels Liabilities 102.283 141.0821 44,091 11,4611 Capitsl and reserves 61.201 42.630 Prepared By Ajbert Goodman LLP 21
School In a Bag Notes to the Financial Slatements For the Year Ended 31 October 2023 9 Deblors 2023 2022 Trade debtors Other debtors 28,129 1,309 28,129 1.309 10 Credltors- amounts due In less that one year 2022 Trade Creditors Accruals aTrJ deferred iTKome Social securily and other taxes Amounts owed lo Schwl in a Bag TradThJ Ltd Other creditors 4.994 13.948 1.677 2,761 1.771 318 319 24,937 8,294 Deferred Income 2023 2022 Deferred irKome at 1 N0mEr 2W22 Rdeased from preirious years Resour$ deleried in the year 19,863 119.8631 10,000 Defeed irorne at 31 O¢tot£r 2023 10.000 As al 31 October 2023, Ihe charity Nfds hokling funds r1Ved in advar8 for a donation from Fllch Group lor the 2023124 financial year. Prepared By Albert Qtyjdman LLP 22
School In a Bag Notes lo the Financial Statements For the Year Ended 31 October 2023 11 Statement of Funds Balance 01.11.2022 Expen iture Balance 31.10.2023 Income Transfers Restrlcted funds Angus Law morIal Trust Project Glenn Dad and Ruth Lewis Family Charitable Trust 14.9Y2 242.5C (14.922) (65.1)JO) 177,500 {15.0001 5,000 Total restrlcted funds 277.422 194,9221 182,500 Unrestflcted lunds General 16,559 Designated - Operational reserye 126,000 Designated - Ofchard House 30,473 330.256 (259,846} 86.969 126,000 (30,473) Total unrestricted funds 173.032 330.256 (2.319) 212.969 Tolal funds 173,032 607,678 1385,2411 395,469 Slatement of Fund$ - prioT year Balance 01.11.2021 Balance Iture Translers 31.10.2022 Restrlcted lunds SchoolBag Donations Afghan Appeal Angus Law Vemorial Trusl 19.364 5,904 119,3641 15,9041 9.878 19,8781 Total restrided funds 25,268 9.878 19.8781 125.268) Unrestrfcted funds General Designated- OFeratnal reset¥e Oesignaled- Orchard House 93,140 277,586 1253.435) 11W.7321 126,0 16,S59 126,C(10 30,473 30.473 Total lunds 118,408 317.937 1263.3131 173.032 Prepared By Albert G0Trjm LLP 23
School In a Bag Notes to the Financial Statements For the Year Ended 31 OctotEr 2023 School8ag Donations general donatn$ lovrards Ihe cost of providing in cnuntry aThJ UK packages and SchoolBags lor distributn to children. During 2022 it was established Ihal Ihis fund was expended in previous years and rt has therefore been transferred to unreslrKted funds. Afghan Appeal - designated funds lor SchoolBags lor chikjren affected by the crisis in Afghanistan predominantly UK packages arKI School8ags for refugees, Afghan children brought lo the UK. During 2022 it was established that this lund was expended in prevK)us years and il was therefore transferred lo unrestle0 funds. Angus Law memorial- grant lor the provision ol SchoolBags in the Iringa area ol Tanzania. Project Glenn- reslricted furKJs lor the build and developm&nt ol a teacher Iraining institute Ki Nepal grfted to a UK charrty to continue the project in line with the terms of the donat. This project is ongoing with the remaining balancing being spent in November 2023. David and Ruth Lewis Famity Tnjst - funds received to deliver school bags in Tanzania, Ghana, Pakislan and the UK. Desgnaled - Operatnal reserve. Thk8 fund is lo wt aside Ihe approximale costs of operating the charity lor 6 months. Designated - Orchard House. This fund relates to irthme received wf(h a guKJing purpose prowded lo assist with distributM)n of SchoolBags lor chiklren in Nepal. Pakistan. Cameroon and India. The purpose is not suff lent to meet Ihe definitK>n of a restricted fund and therefore the Trustees have agreed to designate the amount lo recTrJnise its inteThJed use. This has been sp8nt in 2022123. 12 Analysi$ ol net a$sel$ between lund$ Unre8- Iricted Tolal 2023 Unres- Res- trlcted Irlcted Totsl 2022 tricted Tangible assets Investments Net current assets 2.788 2.788 2W.CN)6 182,5(KI 391,506 170,243 170.243 212,969 182.500 395,469 173,032 173,032 13 Related party transactlons There ar8 related parties requiring discb)sur8 {2022.' ne). 14 Cornpany Ilmfted by guarnntee Th8 company was incorporated as a company limited by guaranlee and has no share capital. The guarantee to the company is £1 per member on the winding up ol the company. At 31 Oclober 2023 the company had e¥Jht memb8rs and th8 total amount guaranleed was therefore £8. Prepared By Albert Qodman LLP 24