School in a Bag (A Charitable Company Urnited by Guarantee) Annual Report and Flnanclal sLements For the Year Ended 31 October 2024 Company Number: 11916624 Charlty Reglstered in England and Wales Numbèr: 1186357
Sch¢)ol in a Bag Contents For the Year Ended 31 Ociober 2024 Contents Referenc8 and Administrative Dètails Trustees, Annual Report Independenl Examiner's Report Statement of Financial Activilies 10 Balance Sheet Statement of Cash Flows 13 Not8S to the Financial Statements 14-24 Prepared By Albert c(1Man LLP
School in a Bag Reference and Administrative Details For the Year Ended 31 October 2024 Trustees and Directors K J 8rownhill D J Cooper M O Fasosin W P Hughes D J Hutchinson A J Mackie C A O'Brien Chlef Executlve L Simon Company Number 11916624 Charity Number 1186357 Prlnclpal Office and Registered Offlce Home Farm Main Slreet Chihhorne Domer Yeovil BA22 8RD Independent Examiner Michelle Ferris BS¢ (Hons) FCA DChA Albert Goodman LLP Go(Idwt)od House Blackbrook Park Avenue Taunton Somerset TA1 2PX Prepared By Albert &JcyJman LLP
School in a Bag Trustees, Report For the Year Ended 31 Oclober 2024 The trustees, who are also directors for the purposes of the Compani8s Act. pr8sent Ih8ir report and Ihe unaudited financi statements of the charty for the year ended 31 October 2024. The financial statements have been prepared in accordan with the accounting policies set out in note 1 to Ihe financial statements and comply with the charity's memorandum and articles of association, Ihe Statement of Recommended Practi (SORP FRS 102 2019), and are in accordance with the special provision relating to small companies viithin Part 15 of the Companies Act 2(*)6. Publlc beneflt Tha trustees report that the charitable activities, described in the "Mission slatement", "Activities" and "Achievements and performance. paragraphs. are for the public benefit. The trustees also confirm that they have complied wth section 17(51 of the Charitss Act 2011 to have du8 regard to th8 public b8n8fit guidance publisheij by the Charity Commission. Slruclureg governance and management School in a Bag is an independent charity. registered number 1186357 and a company limited by guarantee. registered number 11916624. The governing docum8nt is the m8morandum and articles of associatK)n dated 14 November 2019. The following trus188s vtho are also dire¢t¢)rs for the purp)ses of company law, served during the year and since the year end- K J Brownhill D J Cooper M O Fasosin W P Hughes D J Hutchinson A J Mackie C A O'Brien F C Bellamy {resned 28 February 2024) Under the requirements of the Memorandum and Artides of Association. Ihe trustees are elect8d to serve for a period of three years after which they musl be re-elected at the n8Xt Annual Gen8ral Meeting. All truslees are already familiar With the work of the charity prior to their involvement. Each Irustees receives access to a Trustee Induction pack containing financial and legal infomiation relating to the charity alongside a code of conduct and relevant policies. None of the trustees has any benefioal interest in th8 company. All of the trustees are memb8rs of the company and guarantee to contribLrte £1 in the event of liquidation of company. The trustees attend board meetings quarterly and are responsible for the strategic direction and policy of the charity. A separate Financial Sub Committee meets prior to the truslee meelings to provide additional financial s¢rutiny and guidan. Responsibility for the managemenl and operation of the company during the period was entrusted to the Chief Executive, L Simon. Prepared By Aitert &)c4Jman LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2024 Purposes and Aims Our charity's purpos8s as sel oul in the objects contained in the company's memorandum of association are to.. advance the education of children by such charilable means as the Irustees decide. The main aim of the charity is to provide and distribute SchoolBags containing educational and health supplies to disadvantaged, poor and disaster aflected children around Ihe world, increasing educational attainment and attendan at school. Alongside this the charity SuPPs the development of new school buildings and facilities. Our aims fully reflect the purposes that the charty was set up to further. Mission School in a Bag provide rLk$acks lull of educational, hygi8ne, eating and drinking supplies to enable disadvantaged, orphan and pjverty-stricken children around the world to access an educalion. Values Equity- School in a Bag SUPF)Ort children in all countries regardless of race, politics or religion. Empowerment - The charty works with local partners on th8 ground, empowering them within their communities and investing money where it matters most. Transparency - Every SchoolBag. whether UK Packed or in-country is numbered and trackable from point of donation to recipient. providing complete donor transparency. Actlvltles This financial year was another excellent one for both the charty and the trading subsidiary. The charity continued to focus on the funding and delivery of SchoolBags to children working with individuals, organisations, groups and corporale entilies to support this work. Across the year over 10.000 SchoolBags were distribul8d lo children in 14 countries using our 'in country, delivery model including Mongolia. Pakistan. Nepal, Tanzania, India, Ghana and Uganda. W8 have also sent our UK Packed SchoolBags lo Kenya. Romania. Poland. Ukraine and The Gambia and Ukraine and distributed UK Refugee SchoolBags to Norlolk. Warrington. Barnstaple, Sheffield and across Somerset. Corporate partnerships and relalionships remain a k8y focus for charty- During this financial year Beechfield continued to be a key supporter of charity and in March 2024 School in a Bag successlully became a charity partner of 10/0 For The Planet, an inlernalional organisalion whose members contribute at least 10A of their annual revenue to environmental causes to prolect Ihe environment and promote sustainability. Prepared By Albert Goodman LLP
School in a Bag Trustees, Report For the Yeai Ended 31 October 2024 As a member of 19/0 Beechfield were able to contribute more to the charity and were keen to expand their support beyond stock and SchoolBags. They did this by committing to fund the building of two new schools in the villages of Igingilanyi and Igwachanya, in the Iringa region of Tanzania which are due to be completed al the end of 2024. These schools will have a PgnrflcanI impact on local children vtho currènlly do not attend school in other villages due to the 4-7km walk, increasing school attendance. increasing literacy and academic attainment levels. preventing early pregnancy and marriage and decreasing HIV infedK)n rates. Alongside Beechfield we also received funding from Greet[Id Purchasing Solutions through the 1Yo Portal and our partn8rship with FITCH Continues to flourish th regular School8ag packs and en9agement. This year we have continued to develop relationships with new corporate partners through visit.org and to strengthen our existing partnerships WFth long term supporters such as FITCH. We have gained new orporate support through several smaller organisations sponsoring a SchoolBag vthen they acquire a new client which has worked as a valuable marketing tth)I for them and an ongoing relationship siluation for the ¢harity. Natural disasters also featured again in our work with the Jaiarkot District. Kamali Province, Nepal being subject to a rnagnilude 5.7 earthquake on 3 November 2024 killing 153 people and injuring al least 375. Widely felt in western Nepal and northern India. the earthquake was the deadliest to strik8 the country since 2015. Unlortunately the quake did not make the mainstream media news and il was thanks to tha local knowledge of our brilliant Nepalese partners Helambu Education Livelihood Partnership (HELP), that the charity were able to respond by funding 254 sdIBagS for children at the Shree Bidhyadevi Primary School in Jaj'arkot which was dir8Ctly impacted. Our refugee SchoolBags have continued to be an important aspect of delivery with council hubs and refugee support nITeS helping us to distribute SchoolBags across the UK. We also continued lo support displaced Ukrainian families residing in Poland and Ukraine through The Helping Hand for Ukraine projecl, part of the Chernobyl Chiklren's Lrfeline organisation. The work with schools continued this year and the trustees decided to create a new post of Schools Liaison OffIr which will be recruited later in the year. This role Y11 specifically work with schools to generate interest and work aiong&de developing curriculum-based resources and widening the reach of the charity within the seclor. A number of schools worked with the charity over the last 12 months with the local village primary school carrying out a range fo fundraising activities including a sponsored walk vthile school in London, Dorset, Devon and Wales also packed SchoolBags that were distributed to Ukraine and in September and October were sent to The Gambia. The trading subsidiary again delivered Ihe most successful Home Farm Festival to date with 3629 tickets sold and over £130k profit made from the 3 day event in June. Tickets lor the Saturday of the event also sold out for the first lime prior to the day. Prepared By AJtErt Gocxjman LLP
School in a Bag Trustees, Report For the Year Ended 31 October 2024 During the event 382 SchoolBags were packed al the event. over 120 more than last year. which were shipped to Ukraine. Alongside the packed SchoolBag income of £7,653, an additional £3,325 was raised dirgctly by the charity at the evenl from text donations, bucket collections. adding a £1 to your round, lun run entrance fees and donations when purchasing tickets. Repeating the success of 2023. tickels went on sale for next years Home Farm Festival IHFF18) during the weekend and a week after the end event which Provided over £61 k of sales for Ihe 2025 event. There is another planned flash sale in November 2024 and tickets will then go on sale fully in early 2025. The charity have continued lo invest funds to upgrade our existing warehouse operatiorb With new lighting and safety equipment. This conlinues lo have a massive impacl on the charities ability to hold stock and has enabled us to buy considerably larger quantities of stock and benefit from lower prices due to the economies of seale. We continue lo be indebted to the huge amount of support the charity receives from bcal people and organisations. Our regular volunteers in the warehouse and office are uitical to our work and those who support our festival enable us to maximise the fundraising opportunity it provides. The trustees spent time this year considering the longer-temi future ol the organisation and have committed to expanding staff capacity and roles and investing in new technology to support growth. In the next financial year we will be appointing a dedicated Schools Liaison Olficer and a new Administrator post alongside putting in place a new CRM system and changing our existing database. As a charity the trustees and staff remain committed to supporting as many children across the world as possible and it is an exciting time as the organisation undergoes a period of change and Iransition as new members of the team are recruited and new areas of TIrk are investigated. particularly in reference to the trading subsidiary. Achievements and pwfomiance The charity is particularly proud of the following achievements over the period Welcoming DjiboLrti as the county that the charity works in. Delivering more than 10.000 SchoolBags in 14 countries during the year The delivery of the most successful Home Farm Festival to dale. Home Farm Festival 17 through the charity's trading subsidiary. the first which sold all Saturday prior lo the event. The commilment ol trustees to a transitional change programme for the charity bringing in additional staff and committing resources lo long ierm organisational growih The addition of 3 new corporate partners sponsoring a SchoolBag for each new client onboarded - Manders Financial S8rvices, Unico Hire and Connecting Education. The addition of 3 new corporale SchoolBag pack partners AIG, Weil, Gotshal and Mangers LLP and Eversheds Flnanclal review The ¢harily generated income of £599.665 of which £228.003 was restricted (2023 - income of £607,678 of which £277,422 was restricted). With expenditure of £609.643 {2023 - £385,241), this lead to a deficit for the year of £9,97812023 - surplus £222.4371. Net assets as at Ihe end of the financial year were £385,491 12023 - £395,469). Prepared By Albert GocKlman LLP
Sch¢)ol in a Bag Trustees, Report For the Year Ended 31 October 2024 Reserves policy Th8r8 is currently no fomial reserves l1¢Y in pla however the Trustees have agreed in principle to hold a minimum of 3 months operating costs tor the charty as reserves wilh a target to achieve 6 months. An eslimalion of the cosls of olatIng the charty for 6 months (being £126,OCM)) has been put aside as designated income in the accounts - the Trustees believe that this reserve would be necessary to organise a orderly wind dovm of the charity should it be required. In addition, the charity has designated funds for a particular project which did not meet the definition for restiicled, but the Trustees wish to honour the intended Purpose of the donation. The free reserves of the charity arnnted to £258.972 on 31 October 2024. After the designated costs noted above are taken accounl of. the charty holds £79,427 in free reserves - which the Trustees intend to reinvest in the operations of the charity. providing Ilexibilty yth regards to the projects supported. Future plans The organisation is conlinuing its plans to transition charity and trading company into a sustainable entity and intends to work on its business development plans and income generating activities, particularly in creating new income generation models for Ihe trading company. The charity will continue to focus on the distribution of SchoolBags lo children in need around the world. For the 2024 to 2025 financial year the charty has prioritised the lollowng:_ The distribulion of 12.000 SchoolBags to children in need The continued support of refugee and displaced children bolh in tt)e UK and around the world with Refugee SchoolBags The continuation of buitding of schocA faalities in Tanzania w51h corporate partner BeechfTreld The development of educational r8sources for children in the UK linked to Curriculum delivery The continuation of the charty and trading companies transition and development plans to build slronger and more sustainable organisations in the future by increasing capacity and investing in technology. Risk management The organisation has a risk register and risk policy in pla. The trustees have considered the major risks lo Ythich the charity is exFX)sed. The Trustees actively review, and update systems and procedures to manage perceived risks appropriately. Prepared By Albert Go(Klman LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2024 Statement of Trustees, Responsibilities The trustees (who are directors of School in a Bag for the purposes of company lawl are responsible lor preparing the Trustees, Annual Report (incorporating the Directors, Report) and Ihe financial statements in accordance wilh applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard appIable in the UK and Republic of Ireland (United Kingdom Gen8rally Acc8Pted Accounting practi). Company law requires th8 trustees to prepare financial statements for each financial year which give a true and fair view ol the slate of affairs of the charitable cornpany and the income and expenditure of the charitable company for thai period. In preparing Ihese financial statements, the truslees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP.. make judgments and eslimales Ihat are reasonable and prudent.. state whether applicable UK Accounting Slandards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial staternents on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lima the financial position of the charitable company and enable them to ensure Ihat Ihe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps lor the prevenlion and detection of fraud and other irregularities and are responsible for the maintenance and integrity of the corporate and financial information on the charity's website. Signed by order of the Iruste8s on 21.(0!ll%. K J Brownhill Trustee Prepared By Alberl Goodman LLP
School In a Bag Independent Examiners, Report to the Trustees For the Year Ended 31 October 2024 Independenl examlner's pOrt to the Irustees ol School In a Bag I report to the charty trustees on my examination of the accounts of School in a Bag ('the Company") for the year ended 31 October 2024. Re8ponslblllties and basls of report As IIE charity's trustees of the Company (and also its directors for the wrposes of company lawl you are responsible for the preparation of the accounts in accordan with the requirements of th8 Companies Act 2006 ('Ihe 2006 Acri. Having satisfi8d mys8lf that the accounts of the Company are not required to be audited undar Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounls as carried out under section 145 of the Charities Act 2011 (Ihe 2011 Act'}. In carrying oul my examination I have followed the DirectnS given by the Charity Commission under section 14515)(bl of the 2011 Act. Independent examinerfs statement Since the Company's gross income exceeded £250,000 your examiner must be a membeT of a body listed in section 145 of the 2011 Act. I confirm thai l am qualrfied to undertake the examination becaus8 1 am a member of the Institule of Chartered Accountants in England and We$, which is one ol the listed bodies. I hav8 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.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not comply with these records; 01 3. the accounts do not comply with the accounting requirem8nts of section 396 of the 2006 Act other than any fequiremenl that the accounts give a Irue and fair Vie which is r1 a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the m8thods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordanc8 wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this rèport in order to enable a proper understanding of the accounts to be reach8d. Michelle Ferris Bsc (Honsj FCA DChA Albert Goodman LLP Chartered Accountants Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Dated: .8.g/o.l/ao3.5.... Prepared By Albert GMan LLP
School in a Bag Statement of Financial Activities (including Income & Expenditure account) For the Year Ended 31 October 2024 2024 Total 2023 Total Unres- trlcled Re- slricted Unres- tricted Notes strlcted Incorne Grants and donations Charitable activities Other trading actimtes Managemenl charge income 318,424 11,947 2,134 39,157 228,lJ)3 546,427 11.947 2,134 39,157 284,534 571 6,757 38,394 277,422 561,956 571 6,757 38,394 Total Income 371,662 228,003 599,665 330,256 277,422 607,678 Expgnditure Raising funds Charitable activities 281 314,054 281 609.362 284 290.035 295,308 94,922 384,957 Total eXndIture 314,335 295,308 609,643 290,319 94,922 385,241 Net Income l (expenditure) for the year before transfers 57,327 {67.305) (9,978) 39,937 182,500 222,437 Transfers 1100) Nel movement in funds 57,227 (67,205) (9,978) 39,937 182,500 222,437 Reconciliation of funds Total tunds brought forward 212,969 182.500 395,469 173,032 173,032 Total funds carried forward 270,196 115,295 385,491 212,969 182,500 395,469 The results for the year derive from continuing activities and there are no gains or losses other than Ihose shown abov8. The statement of financial activities incorporates the income and expenditure a¢¢ount. Prepared By Albert Goodman LLP 10
School in a Bag - Company Reglstratlon Number: 11916624 Balan sheet As at 31 October 2024 Notes 2024 2023 Fixed assots Tangible fixed assets Investments 11,223 3,962 11.224 3,963 Current assels Stock Debtois Cash at bank and in hand 66,109 1,316 314,027 72,928 28,129 315,386 381,452 416,443 Creditors Amounts falling due within one year 10 (7,185) {24,937> Net current assets 374,267 391,506 Net assets 386,491 395,469 FurKIs Reslrided funds 11 115,295 182,500 Unrestricted funds Designated funds Unre*ricted funds 179,545 ,651 126,OC(I 86,969 270,196 212,969 Total charity fvnds 385,491 395,469 Prepared By Albert Gocdman LLP
School in a Bag - Company AggiStr•tion Number: 11916624 Balance sheet As at 31 October 2024 These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and Financial Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102). For the year ending 31 October 2024 the company was entitled to exempiion under section 477 of the Companies Act 20C6 relating to small companies. The members have nol required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requiremenls of the Act with respect to accounting records and the preparation of ac¢ounts. Approved by the Board lor issue on 21{0112S . and signed on its behalf by.. K J Brownhill Trustee D J Hutchinson Trustee Prepared By Albert Goodman LLP 12
School in a Bag Statement of Cash Hows For the Year Ended 31 October 2024 2024 2023 Notes Cash flows from operatlng activities Nel (expenditure) l income for the year Adjustments to cash flows from n-CaSh items: Depreciation and amortisation (9.978) 222,437 4,610 2,492 (5.368) 224.929 Working capital adjustments Decrease l (increase) in stocks Decrease l (increase) in deblors {Decreasel l increase in creditors 6.819 26.813 (17.752) 154,4251 (26.8201 16,643 io Net cash flow from operations Cash flows from investing activities Purchase of tangible fixed assets 10.512 160.327 {11.871) {3,666 (11.871) 13,666) Net {decrease) l increase in cash and cash equivalents (1.359> 156.661 Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of Ihe reportjng period Cash & Cash equivalenls recowliation". Cash at bank 315.386 158.725 314.027 315,386 314.027 315,386 Total cash & cash equivalents at the end of lh8 reporting period 314,027 315,386 Prepared By Ajtert GocKlman LLP 13
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 Accounting pollcles 1.1 General Infonnation and basis of accountlng School in a Bag is a company limsted by guaranlee incorporaled in the United Kingdom under Ihe Companies Act. Each member of the charity undertakes to conlribule a maximum of £1 to the charity's assets if it should be wound up while they are a member or within one year after they cease to be a member. The address ol the registered office is given on page 2. The nature of the charity's operations and its principal activities are set out in Trustees Report on pages 3-8. The financial statements have been prepaied on the historical cost basis and in accordance with the accounting and reporting by Charities-. Statement of Recommended Practice applicable to charilies preparing their accounts in accordan the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive 1 January 20191- (Charites SORP IFRS 102)) and the Companies Act 2006. The charty meels the definilion of a public benefit entty under FRS 102. Assels and liabilities are initially recognised at hislorical cosl or Iransaction value unless otherwise stated in the relevant accounting policy. The Trustees of School in a Bag have reviewed the position of the trading company, School in a Bag trading Lld, and have determined that it meets the conditions necessary to be considered a subsidiary of the Charity. however. the chariiy is part of a small group and the chariiy has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and the Charities Act 2011 and has not prepared group accounts. 1.2 Golng concern The trustees assess whether the use of going concem is appropriate i.e. wheiher there are any material uncertainlies relaled to events or conditions that may cast significant doubt on th8 ability of the company lo continue as a going COnrn. The trustees make this assessment in respect ol a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties aboul the charity's ability to continue as a going concern. Ihus they continue to adopt the going concern basis of accounting in preparing the financial slatemenls. 1.3 Income Income from donations is recognised in the actounts when re1vable and the amount can be reliably measured. Income from grants is accounted for when unconditionally due and reasonable assurance can be gained that it will be rerHved. Income from inveslments is recognised in the aOUnts when re1Vable. Prepared By Albert Goodman LLP 14
School In a Bag Notes lo the Financial Staternents For the Year Ended 31 October 2024 1.4 Expendlture Expenditure is account8d for on the accruals Imsis. Liabiltties are recognised in the accounling period to which they relate. Governance costs cornprise all costs involving the p1b¢ a¢countabilty of the ¢harty and its Complian with regulation and good practice. 1.5 Flxed assets Fixed assets are valued at cost less depreciation. No assets are capitalised uThJer £1.000. Depreciation is calculaled to write off the Cost or valuation of fixed assets over their estimated useful lives at the followng rate=_ Motor Vehicles Fixtures & Fittings Equipment 25Vo straight line 20Vo straight line 25% straight line 1.6 Inveslment In subsldiaries The investment in the share capitsl of the charity's subsidiaries is stated al cost. Any toans to or from the subsidiary are ststed at the value outstanding at the year end. 1.7 Debtors Other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid. 1.8 Cash at bank and In hand Cash al bank and in hand compromise cash on harKI and call deposits that are readily Convertible to a known amount of cash and are subject lo an inSn[lICant risk of Change in value. 1.9 Credltors Creditors and provisions ar& recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a Ihird party and the amount due to settle the obligation can be measured or eslimated reliably. Creditors are recognised at their settlement amount. 1.1 O Taxation The company is a registered tharty and is therefore not liable to corporation tax to the extent that income and gains are applied for charitable purposes. 1.11 Fund accountlng General funds are unrestricted funds receivable or generaled for the objects of the company without lurther specified purpose and are available as general funds. Restricled funds are to be used for specitic purposes as laid down by the donor. Exp8nditure which meets this criterion is charged to the fund. together with a fair allocation of managament and support costs. 1.12 Slocks Slocks are valued at the cost and net realisable value, after making due allowance for obsolete and slow-moving items. Prepared By Albert G)drnan LLP 15
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 1.13 Financial Instruments The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows-. Financial assels- trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank- is classrfied as a basic financial instrument and is measured at face value. Financial liabililies - trade credilors, accruals and other credttors are financial inslruments, and are measured al amortised cost. Taxation and social security are nol included in the financial instruments disclosure definilion. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. Prepared By Albert Goodman LLP 16
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 2 Grants and donatlons Unres• tricted Total 2024 Unres- Aes- tricted trlcted Total 2023 tricted Grant incorne David and Ruth Lws Family Charity Angus Law Memorial Trusl Communty Foundalion for IrelarKI 20,000 14,922 20,000 14,922 7,823 7,823 Donatlons Beechfield Brands The Fitch Group Funtasia Golden Acre Foods Zenergi Limrted GfUK 125,0(yJ 125,(XXI 52,620 52,620 10,5(M) lo.c3 20,CQO 10.Crf)) 63,314 63,314 10,SC 10,(JJO 10,IJXI 20,000 12.C60 12,060 Other donations < £10.IXNJ Gift ahj 276,727 11,197 47,883 324,610 128,948 13.697 52,389 195,OCQ 323,948 47,5 99,889 318.424 228,C103 546.427 284,534 277,422 561,956 3 Charltable a¢tlvitles Unres- trlcted Totsl 2024 Unres- trlct Tolal 2023 trlcted trfcted Events incoff 11,947 11,947 571 571 11,947 11,947 571 571 Prepared By Albert Goojman LLP 17
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 4 Direct charitable expenditure Unres. tricted Res- tricted Total 2024 Unres- tricl•d Res- tricted Total 2023 Grants to institutions lo deliver school bags to deliver Project Glenn Glenn Oliver donations to Nepal Olher donations School bag cosls Wages Staff cosls Rent Insuran Admin costs Prinling, post, slationery elc Computer software Sundry Accounting sofvare fee Advertising and promotional Subscriptions and memberships Telephone & internet Equipmenl hire and maintenance Vehicle costs Electricity Office supplies Other professional services Accountancy fees Bank charges Depreciation 88,862 45,1 (Xl 133,962 1 C(J,438 177,50) 177,5C(I 13,50) 13,5C 3,686 59.208 146,454 75,581 2.571 5.175 3.024 29,922 65,000 130,360 65,000 3,686 87.246 75,581 2,571 5,175 3.024 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 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 1,103 89 1.103 89 625 3,279 641 1.583 4.384 5,573 2,761 172 18,192 2.428 1,164 4,610 3,279 4,384 5,573 2,761 172 18.192 2,428 1,164 4,610 314,054 295.308 609.362 290,035 94,922 384,957 Prepared By Albert Goodman LLP 18
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 5 Wages and salarles 2024 2023 Wages and salaries Social securiiy cosls Pension 67,000 6,915 67,C((I 6,736 1,636 75,S81 75,372 No individual employee was paid over £60,IJ)0 (2023.. none). The key managemeni personnel of the charity is considered to be the chief executive. The lotal costs to the charity of employee benefits for the key management personnel were £39,43812023.' £39,438). The average number of employees for the year was as follows: 2024 2023 Number of staff 6 Net incoming resources before transfers 2024 2023 This is slated after charging.. Depreciation Accountants remuneralion - independent examinaton - accountancy tee 4,610 618 1.810 2,492 3.360 Prepared By Altert Goc(Iman LLP 19
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 7 Tangible assets Motor Vehlcles Fixtures & fittings Equipment Total Cost As at 01.11.2023 Addilions 5,160 1,636 10,372 2,646 1,499 9,442 11,871 As at31.10.2024 5.160 12.IXI8 4,145 21,313 Depreclallon As at01.11.2023 Charge for year 3.870 662 1,037 5,480 4,610 2.283 As al 31.10.2024 5,160 3,231 1,699 10,090 Net book value As at31.10.2024 8,777 2,446 11,223 As at 31.10.2023 1,290 1,984 3,962 Prepared By Albert Goodman LLP 20
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 8 Investsmni 2024 2023 Shares in subsKlary undertakings School in a Bag Trading Lld {¢ompany number 123863601 was incorporated on 6 January 2020 as a wholly owned subsidiary of School in a Bag. The parent charity holds I CKIY. of the issued share capital and l OOa/. of the voting rights of the subsidiary trading company. The company was dormant until 31 October 2021 and began trading on 1 November 2021. The summarised results of the trading subsidiary are given below.. 2024 2023 Tumover Cost of sales 281,693 (151,5531 205,986 (97,0931 Gross profit Administrative expenses 130,140 152,7331 108,893 (47,6931 Operating profit 77,407 Profrt before taxation 77,407 61,2 Profit for the financial year Retained eamiNJs brought forward Gift Aid to School in a Bag 77,407 61,200 (61,2001 61,2) 42,629 {42,6291 Relained earnirrfjs carried forward 77,407 61.200 The aggregate of the assets, liabile5, capital, a1 reserves was: Assels Liabilities 141,677 164,269) 102,283 (41,082) Capiial and reserves 77,408 61,201 Prepared By Altert &x#Jman LLP 21
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 9 Debtors 2024 2023 Trade deblors Olher debtors 1,156 28,129 1,316 28,129 10 Creditors- amounts due in less that one year 2024 2023 Trade creditors Accruals and deferred income Social security and olher taxes Amounts owed to School in a Bag Trading Lld Olher creditors 2,486 2,844 1,537 4,994 13,948 1,677 4,000 318 318 7,185 24,937 Deferred income 2024 2023 Deferred income at 1 November 2023 Released from previous years Resources deferred in the year 20,000 120,0001 10,000 10,000 Deferred income at 31 October 2024. 20,000 As at 31 October 2023. Ihe charity was holding funds received in advan for a donatTron from Fitch Group for the 2023124 financial year. Prepared By Albert Goodman LLP 22
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 11 Slatement ot Funds Balan¢e 01.112023 Balance 31.10.2024 Transfers Restrlctsd lunds Project Glenn David and Ruth Lewis Family Charitable Trust Glenn Oliver.. Nepal SchcK)IBags Beechlield: core donation Beechlield." SchoolBag donations Filch Group - SchoolBag packs AIG - SchoolBag packs Greelwdl 177,51XI {177,SC) (5,1(M)) (13,5) {40,[) 128,9CM)) {30,308) 13,5C(I 125,1 28.9C S2.620 5,983 85,O¢JJ 22,312 5,983 2,OiJO Tolal restricled funds 182,5C(I 228,IX)3 {295,3081 11x1 115,295 Unre8tr1cted luThls General Designated - Operational reserve 126.IM) Designated - Beechlield core Wofk 318,117 {314,3351 (1Crt)) 90,651 126,000 53,545 $3.545 Total unrestricted lund$ 212,969 371,662 {314.3351 {100) 270.196 Tolal lunds 395,469 599,665 {609,6431 385,491 Slatemenl of Funds. prior year Balance 01.11.2022 Expen Iture Balance 31.10.2023 Income Translers Restrlcted funds Jus Law Memorial Trust Project Glenn David and Ruth Lews Family Charitsble Trust 14,922 242.500 (14,922) 165.IXKi} 177,5LKI {15.(} Tolal reslrlcled funds 277.422 {94.922) 182,5 Unrestrlcted funds General 16,559 Designated - OperalM)nd reserve 126,OCM) Designated - Orchard House 30.473 330.256 {259,846) 86,969 126,0 {30,4n) Total lunds 173,032 607.678 {385.241) 395,469 Prepared By Albert &xrnan LLP 23
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2024 Project Glenn - restricted funds lor the build and development of a teacher training institute in Nepal gifted lo a UK charity to continue the project in line with the t8rms of the donation. School in a Bag's involvement wilh this project has now finished. David and Ruth Lewis Family Trust - funds received lo deliver school bags in Tanzania, Ghana, Pakistan and the UK. Glenn Oliver. Nepal School Bags - restricled funds received to deliver school bags in Nepal. The Fitch Group - restricted funds received to deliver school bags. AIG SchoolBags - restricted funds received to deliver school bags. Beechlield School Build restricted funds received for the build and development of a school in Tanzania. Beechfield SchoolBags- restricted funds r1Ved to deliver school bags. Greelwell Designated Beechlield Core Donation. This fund is put aside to cover core work costs as well as implementing a CRN syern. Designated - Operational reserve. This fund is to put aside the approximat8 Costs of operating the charity for 6 months. 12 Analysls of net assets between fijnds Unres tricted Total un5- Res- 2024 trict•d trlcted Total 2023 tricted Tangible assets Investments Net current assets 11,223 11,223 3,962 3,962 258,972 115,295 374,267 209,006 182,500 391,506 270,196 115,295 385,491 212,969 182,500 395,469 13 Related party Iransactions Home Farm Breaks During the year. the charity paid £7.936 {2023: £7.730) tor rent and utilities to T W Marsh and Sons, a business which is owned by close family of the chief executive. 14 Company limited by guaranlee The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to Ihe company is £1 per member on the winding up of the company. At 31 October 2024 the company had seven members and the total amount gLJaranteed was therefore £7. Prepared By Albert Gocxjman LLP 24