School In a Bag IA Charltsble Company Llmited by Guarantee) Annual Report and Financlal Stalements For the Year Ended 31 October 2025 Company Number: 11916624 Charlty Reglstered In England and Wales Number: 1186357
School In a Bag Contents For the Year Ended 31 October 2025 Pa Contents Reference and Adminislralive Details Trustees, Annual RetM)rt Independent Examiner's Repc*l Slalement of Finala1 A¢tivities 10 Balance Sheet Stalement of Cash Rows 13 Noles to the Financial Statements 14-25 Prepared By Altert Gc#)Jman LLP
School in a Bag Reference ané Administrative Details For the Year Ended 31 October 2025 Trustees and Dlrectors D J Cocper M O Fasosin W P Hughes D J Hutchinson A J Mackie C A O'Brien Chlef Executive L Simon Company Number 11916624 Charlty Number 1186357 Prlnclpal Office and Reglstered Offlce Home Farm Main Street Chilthorne Domer Yeovil BA22 8RD Independent Examiner Michelle Ferris Bsc (Honsl FCA DChA Albert Goc(Iman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX Prepared By Albert GojMan LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2025 The trustees, who are also directLYS for the purtLws of the Companies Act, present treir rep and the unaudited finanL?al statements of the charity the year ended 31 Octc4)er 202S. The finanaal statements have been prepared in accdan with the acCnting wlici8s set (rtrt in note 1 to the financial ststements and comply wf(h the charty's memorandum and articles of association, the Statement of Recommended Practi {SORP FRS 102 2019), and are in accordance with th8 special provision relating to small companies Within Part 15 01 the CompanEs Act 26. Public benefit The tiuslees report that the tharitable adivities, described in the "Mission statemenf. "Activitses. and °Achievements and performarte" paragraphs. are for the public benefiL Tr trustees also confirm that they have complied with section 17(51 ol the Charities Ad 2011 to have due regard lo the public benefit guidan published by the Charity Commisshm. structu governance and management School in a Bag is an indeperKlent (tsity. registered number 1186357 aThJ a company limited by guarantee, registered number 11916624. The governing d(Ument is the memorarKlum arKI articles of ass(Kiati¢X dated 14 November 2019. The following trustees WIK) are also directors for ttle purposes of CpanY law. served during the year and since the year end: K J Brownhill (resigned 09 April 20261 D J Cooper M O Fasosin W P Hughes D J Hutchinson A J Mackie C A O'Brien Under the requirements of Ihe Mernorandurn and Arte$ of Assctialion, the trustees are elected to serve for a period of three years after which they musl be rfrelected at ts next Annual General Meeting. All trustees are already farniliar wilh work of the charity pri to their involvement. Each trustees reiVeS a¢$$ to a Trustee Induction path containiThJ financial and legal infonnation relatirvJ to the charty alor¥Jside a code of conduci and relevant lIcies. None of the Irustees has any beneficial interest in the ¢ompany. All of the truslees are members of the company and guaranlee to contrtrjute £1 in event of IKiuhJation of the rnpany. The trustees attend board meetings quarterly aThJ are reswnsible for strategic dire¢ti¢)n and policy of the ¢harity. A separate Financial Sub Committee meets prior to the trustee meetings to provide additional financial scrutiny and guidance. ResF4)nsibilty for the management and q)eration of the company during the peri¢Jd was entnL¥ted to the Chief Exe(xrtive, L Simon. Prepared By Albert Gcdman LLP
School in a Bag Trustees, Report For Ihe Year Ended 31 Oclober 2025 Purposes and Aims Our charity's purposes as set OLrt in Ihe obiecls contained in the company's memorandum of association are lo.. advan the edtion of children by SLth charitable means as the trustees decide. The main aim of the charity is lo proVe and dislribute SchoolBags containing educational and health supplies to disadvantaged, poor and disaster affecled children around the world, increasing educational attainment and atterKlance at school. Alongside this the charty supports the development of new sthool buildings and facilities. Our aims fully reflect the purposes thal Ihe charty was set up to further. Mlsslon School in a Bag provide njcksacks full ol educational. hygiene. eating and drinking supplies to enable dlsadvantaged, orphan and roverty-stricken children around Ihe world to access an education. Values Equity- School in a Bag support children in dl countries regardless of race, p)litics or relign. Empowerment - The charity works with Itxal partners on the 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 Irackable from point of donation to recipient, providing complete donor transparency. A¢tlvltles The charity and trading subsidiary have continued to grow and develop this financial year despite the changing economic climate and worldwide wlitical unrest. Demand for the support of children around the world continues to be strong with 272 million children still out of sc)1 according to revised UN figures in 2023. During the peri¢>J, over 9.0( SchoolBags were dislributed acxoss 7 countries using our 'in country, delivery model including supporting flooded communities in Pakistan. Palestinian refugees thaled in Egypt and working with long terms partners in Tanzania. Nepal. India. Sri Lanka and Ghana. An addilional 5224 UK packed SchoolBags were shipped via contaner to The Gambia and SerEgal and other shipments were distributed to Romania. Kenya and Sierra Leone. The charity also continued to glow its impacl in Ihe Uniled Kingd(Mn supptying refugee SchoolBags to displaced children from Afghanistan and Ukraine. now located in Shelfield. Wakefield, Somersel and Norfolk. Prepared By Albert (&xrfiman LLP
School In a Bag Trustees, Report For Ihe Year Ended 31 October 2025 Work with corporate partners c(w)tinues to be a key work stream for the tharity in terms of both nurturing existing relationships and building new ones. Beechfield remain a key partner Ihrough the 1% For The Planet project and this year, Ihe charty had the oppjrtunty to attend the 1 Yo conferen in L0ndC as part of Beechfi81ds stand. This crealed a unKiue opwrtunty to meet other organisalions and expand networks and contacts which have led to new optM)rtunriies for the charity. Alongside Beechfield the charity cortinue to w(Yk wilh FITCH. Eversheds aThJ AIG and in addition have held SchoolBag packing events wilh a further 10 organisations which included a visit to Malta with Rph Lauren, where the Sck>)18ags packed were distrilxrted into Iccal schools. We also continue to receive support from smaller organisations through regular donations when new Clients are ontrKJarded and have procured a new supplier wh) also funds S(KdBags based on the amount of slock purchased. Education is a key fows for the charity and this year we recruited a part time Schools Liaison Officer which has been a fantastic addition to the team. The Off has generated l¢)ts of support and interesl in the charity working with over 22 s¢hc#)Is a¢XOSS their first 9 months gerEring funds and packing SchoolBags. Alongside Ihis Ihe charty ntInUeS to develop ruluM-baSed resour to widen its ofler to UK schools and has trialed these in several xhods. We have also piloted Ihe construction of the first ClassBox, a box full of learning resour and equipment to enhance dassroom arka schcol envIrMents where SchoolBags are distributed around the world. At thè heart of ow UK based otwations 4wr waretrmjuse its team of dedicated volunteers. This year we invested further inlo this crilical infrastruciure installing additional racking io hold greater quantities of stock which we can purchase as more preferential rates and as we continue lo grow our reach arKI the amount of SchoolBag packs taking Pla across the year. The charty's tradirYJ subsidiary again ran a very successful Home Fam Festival, the first ever to sell out completely before the event. Home Fam Festival 18 took place in June 2025 and welcomed just undèr 5000 on site at the (*witys headquarters over the 3 day perbjy making approximately £139k profit in spite of a very wet Saturday. During ihe event 439 sc1Bags were packed, 57 more Ihan lasl year. which were shipped to Senegal. Alongside the packed SchoolBag Income of £9293, an additial £3,612 was raised directly by the charity al the event frorn text donations. bucket collections, adding a £1 to your round, fun run entrance fees and donations when purchasirvJ tkets. As with the wevious year, lickets went iy) sale for next years Home Fami Feslival IHFF19) during th8 weekend and a week after Ihe event which provhjed over £84k of sales for 2026 event, £23k more than the previous year. After the success of HFF18 plans have been made to amend the linse for Ihe event to increase attendee numbers with a view to maximizing incorne generation. In the last financial year trustees made several decFAons whtrth have come Into fruttion in Ihis period inclLKling the appointment of additional slaff arxl worf( on a CRM system. There i8 still work to be done to address capacity issues an(1 up3rade systems prctesses within the organisation and trLSStees are committed lo Ihe k)ng ierm plannirwJ and imFdementati of this. It ts likely ihat 2026 will continue to be a time of transition arKI chan9e as the organisalion flexes with Changes to the political arKI eC0MiC landscape and k)oks to contwiue lo diversty its incwE and wotect its k)ng-term future. Prepared By Altert C£(Jlman LLP
School in a Bag Trustees, Report For the Year Ended 31 October 2025 Achievements and perforniance The charty is particularty proud of Ihe following achievemenls over the period :_ Welcoming Egypt as t1 591h untry that the charity works in. The delivery of another Home Farm Fe*ival thrOh the charty's tradirvJ subsidiary, the first which sold out of all tickets prior to the event. The creation of the first pilot ClassBox. developirvJ a new strand of w¢yk for the charity and meeting addilional needs in our partner countries The agreement of a Sing donor lo 'malch' the profit from Home Farm Festival as a donation to the charity lo fund SchoolBags. This equated to a single donation of $191,010. The appointment of a Sch(K)Is Liaison olfir and Administrator to strengthen Ihe core team of the charity and the onboarding of an additiond freelano team mem1 lo support fundrai8ing events and aclrvities, all adding Valuab capacity and additional skills to the organisation. The completion of works to the warehouse with the installation of additional rackirKJ to maximise buying potenlial and to house greater levels of stock to meet demand for SchoolBag packs. Flnanclal revlew The charity generated income of £682,449 of whh £230,372 was restricted (2024- income of £599,665 of whi¢h £228.003 was restrided). With expenditure of £544,1)J5 (2024 - £609,643), this lead to a surplus for the year of £138.444 (2024 - del1 £9.978) of which a deficit of £5,750 was restricted (2024.. £67,205 deficit). Nel assets as al the end of the finanaal year were £523,935 (2024 - £385,491) of which £109,545 was restricted12024-. £115,295). Reserves policy There is ¢urrentty no formd reserves policy in place however the Trustees have agreed in principle lo hold a minimum of 3 months operating costs for the charity as reserves with a larget to achieve 6 months. An estimation ol the costs of operating ihe charity for 6 months (being £126,000) has been put aside as designated income in Ihe accounts- the Trustees believe that this reserve w(yJld be necessary to organise a orderly wind down of the charty should it be required. In addition, the charity has designated funds for a particular project which did rvjt meet the definition for restricted. but the Trustees wish to honour the inlentsd purwse of the (k)nalion. The Iree reserves of the charity amounted to £404.174 on 31 Octobei 2025 {2024: £258,972). After Ihe designated costs noted above are taken account of, the chartty holds £148,033 {2024'. £79,427} in free reserves - which the Trustees intend to reinvesl in the operaiions of the charity. providing flexibility Wlth regards to the projects supported. Prepared By Albert &)odman LLP
School in a Bag Trustees, Report For the Year Ended 31 October 2025 Future plans The charty and trading subsidiary are mirthl of the need to (x)nlinue to increase revenue and diversify Iheir income streams. The organisalion is continuing tls plans to transilion the charity and trading company inlo a sustwnable entity and intends to Work on its bjsiness develc¢)ment anS and income generatirKJ aclivf(ies, partlarlY in creating new incorne gereration mLJ&ls tor the tra(ng company. The charity will continue lo focus on the distribution of SchcdBags to thik*en in need around the workl. For the 2025 to 2026 financial year the charity has prM)ritised the folk)wing.'_ The distribution ot 15,OC(I Sch(M)IBags to chiklren in wl tdh in the UK and around the worfd. The conlinued development ol the ClassBox including pikx distribLJtions to 3 countries. The delivery of HFF19 with a increased ¢apacty The implantation of a new CRM system and prIseS to refine rKo¢esses and systems wilhin the charity. Risk management The organIsat)n has a risk register and risk in place. The trustees have wtsidered the major risks to which the tharity is expc6ed. Tr Trustees actively review. and upjate systems and prttedures to manage perceived risks apFxopriatsty. Prepared By Altert &#)dman LLP
School In a Bag Trustees, Report For the Year Ended 31 October 2025 Statement of Trustees. Responslbililies The truslees {who are direclors of School in a Bag for the purposes of company lawl are responsible tor preparing the Trustees, Annual Report (incorporating the Directors, Rep1 and the financial slatemenls in accordance wtth applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Finanaal Reporting Standard applicable in the UK and Republic ol Ir818nd IUnit8d Kingdom Generally Accepted AccountirKJ PraclTr). Company law requires ts trustees to prepare financial statements for eath financial year whi¢h give a true and lair view of the slate of affairs of the chariiable company and Ihe income and expenditure of the charilable company for that period. In preparing these financial slalements, the trustees are required to: select suitable a¢countiNJ policies and then apply them cortsistenlty; observe the methods an(1 principles in the Charities SORP,. make judgments and eslimales that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject to any materlal departures disclosed and explained in the financial statements. and prepare the linancial statements on the going concern basis unsS it is inappropriate to presume Ihal the charit*le company will conlinue in busirEss. The trustees are responsiLle for keepirwJ adequate )untIr records that disclose with reasonable accuracy al any time the financial position of the chartlable company enable them to ensure Ihal the financial statemènts comply with the Companiès Act 2006. They are also reswnsible lor safeguarding the assets ol the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and are responsible for the maintenance and integrity of the corporate and financial intormation on the charty's website. Signed by order ol the trustees on . Trustee Prepared By Albert Goodman LLP
School in a Bag Independent Examiners. Report to ts Trustees For the Year Ended 31 October 2025 Independent examIne5 report to the trustees of School in a Bag I rewrt to the charty treeS on rny exarninion of the axounts of SctrK)ol in a Bag (Yhe Companfl for the year ended 31 October 2025. Responslbllllles and basis ol report As the charity's trustees of Ihe Company (and also its directors for the purposes of company lawl you are responsible for the preparalion of accounls in aCC¢Xdan with the requirements of the Companies Act 20061lhe 2006 Acll. Having satisfied myself that the aco)unls of ts CnpanY are not required to be audit8d urTrJer Part 16 of the 216 Act and are elKJible for independenl examinalion, I report in respect of my examination ol your charity's accounts as carried out under section 145 of Ihe Charities Act 2011 {Ihe 2011 Act.). In carrying out my examinatn I have folk)wed the Directions given by the Charity CommissiC under section 1451Sllbl of the 2011 A Independent examlnerfs sLitement Slnce the Company's gross income eXLled £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Ad. I conh'mi that l am qualffied to undertake Ihe examinion because l am a member of the Institute of Chartered A¢¢ounlants in ErvJlaTrJ and Wales, whi( one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention In connection with the examinatton gmng me cause to believe tt)at in any malerial respect.. 1. accounting records were rl kept in respect of the Company as required by section 386 of the 2(K16 Act: or 2. the accounts th) not comply with these re¢ords', or 3. the accounts do not comply wtlh the accounting requirements of section 396 of the 2c6 AIX other than any requirement that the accounts give a Irue and Ir Vie whh is not a fflatter consider8d as part of an independent examnation: or 4. the aCcolS have not been prepared in accordance w51h the methods and principles of the Statement of Re¢X)mmended Pradice for accounting and rewrting by ¢haritiès applicable to charities preparing their accounts in accordance with the Financi RerJ)rtiry Slandard applicable in the UK and ReputAic of Ireland (FRS 102). I have no concerns and have cm across no other malters in conneclh)n wilh Ihe eXaMinatn to which attention should be drawn in this report in order to enable a woper urnlerslanding of the accounts to be reached. Ferris Bsc (Hons) FCA DChA Albert G¢Jodman LLP Chartered Accountants GoodwtJcJ House Blackbrook Park Avenue Taunton Somerset TA1 2PX Dated: a.l.1. 071acQ.&.. Prepwed By Albert Gc(•Jman LLP
School in a Bag Statement of Financial Activities (including Income & Expendilure account) For the Year Ended 31 Oclober 2025 2025 Total 2024 Total Unres tricted Rfr strfded Unres trlcted Notes stricled Income Grants and donations Charitable acts'vities Other trading aclivites Management charge income 299,356 26,782 84,272 41,667 230,372 S29,728 26.782 84,272 41,667 318,424 11.947 2,134 39,157 228.Ll)3 546,427 11.947 2,134 39,157 Total income 452,07T 230,372 682,449 371,662 228,003 599,665 Expendlture Raising funds Charitable activilies 7,927 7,927 299,956 ,122 536,078 281 314,054 281 295,308 609,362 Total expendlture 307,883 236,122 544,005 314,335 295,308 609,643 Net income l (expenditure) lor the year before transfers 144.194 (5,7501 138,444 57,327 (67,3051 19,978) Transfers 11 {1 LNJI Net movement In lunds 144,194 (5,750) 138,444 57,227 (67,205) {9,978) Reconciliation of funds Total funds brought forward 270,196 115.295 385,491 212.969 182,5CKJ 395,469 Total funds carried forward 414,390 109,545 523,935 270,196 115,295 385,491 The results for the yeaf derive from continuing activities and there are no gains or losses other than those shown above. The statement ol financial activities incorwrates the income and expenditure accounl. Prepared By Albert G(xMJman LLP 10
School in a Bag- Company Aé91¥tIon Number: 11916624 Balance sheet As at 31 October 2025 2024 Fixed assets Tangible fixed assets Investments 10,216 11.223 10,217 11,&4 Current assets Slock Debtors Cash at bank and in hand 122,149 66,109 1,316 314,027 5(KI,2S3 673.(6 381,452 Credltors Amounls fallirvJ due within one year 10 {159,348) (7,185) Net current assets 513.718 374,267 Net assets 523,935 385,491 Funds Restrlctsd funds 11 109.545 115,295 Unrestricted funds Designated funds Unrestricted funds 256.141 158,249 179,545 90,651 414.390 270,196 Total charlty lunds 523,935 385,491 Prepared By Albert G(Kdman LLP 11
School in a Bag- Company Registration Nurnr: 11916624 Balance sheet As at 31 Odober 2025 These accounts have teen prepared and delivered in accordance wilh the special provisions relating lo small companies within Part 15 of Ihe Companies Acl 21))6 and the Financial Reporting Stan¢Jard applicable in UK and Republic of Ireland {FRS 102). For the year ending 31 Octoter 2025 the company was entitled lo exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordan with se¢tion 476 of the Companies Act 2006. The directofs acknowledge their responsibiltties for complying with the requirernenls of the Act with respect to accounting records and the preparation of accounts. Approved by the Board for issue (M . arKI signed on its behalf by.. D J Hutchinson Trustee Prepared By Albert Goodman LLP 12
School in a Bag Statement of Cash Flows For the Year Ended 31 October 2025 2025 2024 Notes Cash Ilows from operatlng activities Net {expendf(ure) l income for Ihe year Adjustments to cash flows from Th)rpcash items: Depreciation and amortisation 138.444 19.978) 3.893 4,610 142.337 (5,368) Working capital adjuslmenls Decrease I (increase) in stocks Decrease I lincreasel in debiors (Decrease) l increase in creditors 156.0401 149.3481 152.163 6,819 26,813 {17,7521 10 Net cash flow frcrfn opefalions Cash flows from investlng actlvltles Purchase of tangible fixed assets 189.112 10,512 (2.8861 111.871) (2,886) (11.8711 Nel (decrease) l increase in cash and cash eqtsivalents 186.226 (1,3591 Cash and cash equivalents al the beginning of the reporting period Cash and cash equivalents ai the end ol Ihe reporting period 314.027 315,386 500.253 314,027 Cash & Cash equivalents recortiliation: Cash at bank 314,027 Total cash & cash equivalents at end ol the reporting perK* 314,027 Prepad By Albert GjMan LLP 13
School In a Bag Noles to the Financial Statements For the Year Ended 31 October 2025 Accountlng pollcles 1.1 General Informatlon and basls ol accountlng School in a Bag is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. Each member of the ¢harity undertakes to Contribute a maximum of £1 to the charity's assets if il should be wound up while they are a member or within one year after they ase lo be a member. The athjress of the regered office is given on page 2. The nature of the charity's operations arbj its principal activities are sel out in Ihe Trustees Report on pages 3-8. finanaal slatements have been prepared on the hislorical cost basis and in accordance wilh the accounting and reporting by Chartlies.. Slatement of Recommended Practice applicable to charilies preparing Iheir accounts in accordance with the Financial Reporting Standard applicabk9 in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)- {Charites SORP (FRS 102)) and the Companies Act 2006. Th8 charty meets the definition of a public bereftl entity under FRS 102. Assets and liabilities are initialty recognised at historical cost or transaction value unless othepNise staled in Ihe relevant a¢¢ounting policy. Trustees of School in a Bag have reviewed Ihe Frjsition of the Irading company, School in a Bag trading Ud, and have determined that it meels Ihe condits'ons necessary to be considered a subsidiary of the Charity. however, the charity is part of a small group and the charily has taken advantage of the exemplion provided by Secth)n 398 of the Companies Act 2006 and the Charities Acl 2011 and has not prepared group accounts. 1.2 Golng concern The trustees assess whether the use of going concem is appropriate i.e. whether there ar8 any material uncertainlies related to events or conditions that may cast significant doubt on the ability of the Company to ¢oniinue as a going cOnrn. The trustees make this assessment in respect of 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 conlinue in operational existence for the foreseeable future and Ihere are no malerial urtcertainties about the charity's ability to continue as a going concern, thus Ihey continue to adopt the going conrn basis of accounting in preparing the financial stalements. 1.3 Income Income from donations is recognised in Ihe accounts wtrn receivable and Ihe amounl can be reliably measured. Income from grants is accounted for when urKonditK)nally due and r8asonable assuranc8 can be gained that it wll be received. IrKome frcrfn investrnents is recognised in the accounts when receivable. Prepared By Albert G)odman LLP 14
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 1.4 Expenditure Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting peric1 lo which Ihey relate. Governance costs comprise all costs involving the put1 a(xountabilty of the charity and its compliance with reglat and practth. 1.5 Flxed assets Fixed assels are valued at cost less depfedation. No assets are capitalised under £1,OCrt). Depreciation is calculated to write off the cost or valuation of fixed assets over Iheir estimated useful lives at the following rate'.- Molor Vehiles Fixtures & Fittings Equipment 25% straKJht line 20% straKJht line 25% straKJht ne 1.6 Inveslmenl In subsidiaries The investment in the share caprial of the charty's subsidiar$ is stated at cost. Any loans to or from tha subsidiary are staled at value OLJtsianding at the year end. 1.7 Debtors Other debtors are rec(>Jnised al ts setdement amount due arKJ prepayments are valued at the amount prepaid. 1.8 Cash at bank and In hand Cash at bank and in harKI compromise cash on hand and call deFxJsits that are re&Jily Convertib lo a known amount of cash and are subjecl lo an insignrfwit risk of change in value. 1.9 Creditors Credilors aThJ provIsn$ are reccKJnised where Il charty has a present ObljaIlon resulting from a pasl event that will prtjbably result in the transler of funds lo a third party and thè amount due to settle the ¢)IAigation can be measured (K eslimaled reliabty. Creditors are recognised at their settlement amount. 1.10 Taxallon The company is a registered ¢harty and ts therefore not liable to corporion tax to the extent that income and gains are applied for charitable purposes. 1.11 Fund accountlng General funds are unrestricled fulS receivable or generated for the objects of the company withoul further specified purpose and are available as general funds. Flestricled funds are to be used for Speerf purposes as laid (k)wn by the do. Expenditure whith meets this crItern is charged lo the fund, togettr wtlh a fair alk)cation of management and supptyt costs. 1.12 Slocks Stock5 are valued at the cost and net realisable vahje, after making due allowance for ctsolete and slow-moving items. Donated st¢xks are accounted for as stc( (wilh corresponding enty goiThJ to income) at the value that the charty would have paKI for equivalent st(J(. Prepad By Albert GocJman LLP 15
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 1.13 Financial instruments The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabililies of the charity and their measurements are as folbws.. Financial assets - trade and other deblors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not lirkincial instruments. Cash at bank- is dassified as a basic financid instrument and is measured at face value. Financial liabilities - trade credtlors, accruals and other creditors are financial instruments, and are measured at amortised cosl. Taxation and scoal security are not included in the financial instruments disclosure (lefinttion. Deferred income is not deemed to be a financial liability, as the cash settlement has &ready taken place and there is an obligation to deliver services rather than cash or another fina1 instrumenL Prepared By Albert &oJman LLP 16
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 2 Grants and donations Unres• Irlcted Unre$- Re tricted tricted Total 2024 tri¢led Totsl 2025 Donations Beechfield Brands The Frtch Group AIG Golden Acre Fthjds Glenn Crfiver FunLqsia 105,f)X) 72,594 22,728 10,C(K) 10,C(K) 105,IX(I 72,594 22,728 10,IX(I 10,0 125,C¥JO 52,620 125,OCKJ 52.620 I0,L) 10,0 10,5(M) 10,OLKJ 10.OCKJ 10.5¢)J Other donatnS < £10,OIXI Gift aid 283.306 16.050 10.050 293,356 276,727 16,050 11,197 47,883 324,610 2,5¢XI 13,697 299.356 230.372 529,728 318,424 228,003 546,427 3 Charitsble activities Unres- lricted Unres. trl¢ted Total 2024 tri¢ted Total 2025 trlcted Events ¥icoffle 26,782 26,782 11,947 11,947 26.782 26,782 11,947 11,947 Prepared By Altert G((¢Jman LLP 17
School In a Bag Notes to the Financial Statements For Ihe Year Ended 31 October 2025 4 Dlrect charitable expendltu Unres- tricled Unres. tricted Re> trlcted Total 2024 tricted Totsl 2025 Grants to inslilutions to deliver school bags - to deliver Project Glenn - Glenn (Jiver dmations to Nepal Other donations School bag costs Wages Staff costs Rent Insurance Admin costs Printing, post, stab'onery etc Computer software Sundry AccounlirvJ software fee Advertising and promotional Subs¢ripiions and memberships Telephone & internet Equipmenl hire and maintenance Vehicle costs Electricity Office Supyies Other professional servKes Accountancy lees Bank charges Depreciation 125.453 50,796 176,249 88,862 45,100 177,500 13,500 133.962 177,500 13,500 3,686 146,454 75,581 2,571 5,175 3,024 801 1,103 89 504 625 3,279 641 1,583 4,384 5,573 2,761 172 18.192 2,428 1,164 4,610 10,0 10,OC(J 3,686 87.246 75,581 2,571 5,175 3,024 175.326 175,326 95,1 C(J 10.1CI8 5,4 2,168 59.208 95,1(KJ 10.1C 5,400 2,168 2,185 70 502 763 1,9)2 2,185 70 502 763 1,902 1,103 89 625 3,279 1.8C6 1.414 5,189 3,126 2,253 25,705 3.992 2,706 3,893 1,583 4,384 5,573 2,761 172 18.192 2,428 1.164 4,610 1.414 5,189 3,126 2,253 2S.705 3.992 2.706 3,893 299.956 236.122 536.078 314,054 295,308 609,362 Prepared By Albert Gotsjman LLP 18
School in a Bag Notes to tIE Financial Slatemenls For the Year Ended 31 October 2025 5 Wages and salaries 2025 2024 Wages and salaries Social security costs Pension 92,917 67,000 6,915 1,666 2,183 95,100 75,581 No Individu employee was pawj over £60.((2024'. none). The key management personnel of the charity is considered to be Ihe chief executive. total costs to the charty cl employee beneftls for the key management personnel were £43.502 (2024: £39,438). The average number of empbyees for the year was as folkn¥s: 2025 2024 Number cé staff 6 Net Incomlng resouices before transfers 2024 This is stated after tharglYJ: Depreciation Accntants remuneration - indepeThJenl examinaton . ac0ntarY fee 3,893 637 3.355 4,610 618 1,810 Prepar8J By Albert G(¥)Jman LLP 19
School in a Bag Noles lo the Financial Statements For the Year Ended 31 October 2025 7 Tangible assets Motor Vehicles Flxtures & fittings EqU1pnnt Total Cosl As at01.11.2024 Addrtions 5.160 12.008 2.886 4,145 21,313 2,886 As at 31.10.2025 5,160 14.894 4,145 24,199 Depreciation Asat01.11.2024 Chafge for year 5,160 3.231 2.856 1.699 1.037 10.090 3,893 As at 31.10.2025 5,160 6,087 2.736 13.983 Net book value As at31.10.2025 8,807 10.216 As at31.10.2024 8,777 11,223 Prepared By Albert GojMan LLP 20
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 8 Investment 2025 2024 Shares in subsidary undertakings School in a Bag TradirKJ Lld (company number 1Z386360) was $rr)rated cn 6 January 2020 as a wholty owned subsidiary of School in a Bag. The parent charty holds 1 of the issued share capilal and 100Y of the voting rights of Ihe subsidiary trading company. company was dormant until 31 October 2021 and began trading on 1 November 2021. summarised results of the trading subshliary ar8 giv8n b810w'. S¢hool In a Bag Trading Ltd 2025 2024 TurVer Cost of sales 324,352 (204,365) 281.693 (151,5531 Gross profit Administrative expenses 119,987 (71,1) 130,140 152,7331 OperatirvJ profit 48.797 77,407 Olher inler8St receivab Profit tefore taXatn 48.982 77,407 Profit for the fInala1 year Retained eamings brought forward Gift AKJ lo S¢hool in a Bag 48.982 77.407 (77.407) 77,407 61,200 161,2001 Retained eamiros carried lorwrdrd 48,982 77,407 The aggrale of the assets. IkqtHlit*s. capilal, reserves was: Assets LHbililies 178.285 (129,302) 141,677 (64,2691 Capital and reserves 77.408 Prepared By Albert Gcojman LLP 21
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 9 Debtors 2025 2024 Trade debtors Amounts owed by group undertakiThJs arKI undertakir@s in which the company has a pathcipating interest Other debtors 8,173 160 41,667 824 1,156 50,664 1,316 10 Credltor8- arnounls due In less that one year 2025 2024 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 13.215 144,650 1,483 2,486 2,844 1,537 318 159.348 7,185 Deleried Incorne 2025 2024 Deferred income at 1 November 2024 Released trom previous years Resources d8lerred in the year 20.0 120.000) 141,721 Deferred income at 31 Octol 2025. 141,721 Prepared By Albert Gc¢)dman LLP
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 11 Statement ol Funds BJlon¢• 01.112024 Exp8n Ilure Balance 31.102025 Trnnsfors Reslrfcted funds Glenn Oliver.. Nepal SchcdBags BeeChIld.. core donation Fit¢h GTOUP- SchcdBag packs AIG . SchcdBag packs Greelwell ROS May Gdden Acre Sahar Massc(J . 4C(I S8s 10,rxo 105.(M)O (lo,() (106.1621 (73.2491 28,7111 12,(KXII 12.(ts)I I10.() 14,IXQI 83,838 21,657 22.312 22,728 10,(1)O 4,050 Totsl r•strlcted 115,295 230,372 (236,1221 109,545 Unre8tslcted funds General Deslgnaled- (Wranal resefve Designated - Beechliekl core VA) Designated - Beechr] donated 15 ,651 126.( 371.166 (S)3,5681 158,249 126,¢J)O 53,545 76,596 eKJ,911 14.3151 Totsl unr•slrf¢t•d funds 270,196 452.077 {307.8831 414,390 Totsl fund$ 385.491 682.449 1544.CQ51 523,935 Prepared By Albert ¢3x¥Jman LLP 23
School In a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 Statement of Funds- prlor yur Balance 01.11.2023 Balance 31.10.2024 Income Iture Tran8fer8 R•strlct¢d lunds Project Glenn David and Ruth Lewis Famity Charilabkn Trusl Gnn Oliver: Nepal Schoo18ags Beecmield.. core donation Beechlield.. SchoolBag donations Fitch Group. SthoolBag packs AIG . Sthoo18ag packs Greetwell 177.5C(I {177,5C#Jl 15,1001 113.5C(JI 140,() 128.9)01 {,308) 100 I3.) 125.C(X) 85,OJO 22,312 Total rgstrfcted lundg 182.50) 228.CI)3 1295,308) 115,295 Unrestrlcted funds General DeSnated- OFera1wJnal reserve Des*Jnated- Beechliekl core 86.969 126,0 318.117 1314.335} 110)} 90.651 126.C 53,545 Total unreslrlcted funds 212,969 371,662 1314,3351 270,196 Totsl funds 395.469 599.665 1609.6431 385,491 Project Glenn- restricled funds for the build and development of a teacher training institute in Nepal gifted to a UK charity to continue the projeLX in line with the temis of the donation. School in a Bag's involvement with Ihis 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 - restricted funts received to deliver sthool bags in Nepal. The Fitch Group- restricted funds re¢eived to deliver schwl bags. AIG SchoolBags- reslricted funds received to deliver schcrf)I bags. Beechfield SchocA Build - restricled funds received for the build aThJ development of a school in Tanzania. Beechfield SchoolBags - Testricled funds received lo deliver school bags. Greelwell - restricled funds received to deliver sd)ool bags. Rosie May- restricted lur)ds received io deliver school bags. Sahar Masood - restricted fulS received lo deliver school bags. Golden Acre - reslyicted funds reoived to deliver xhool bags. Designated - Beechfield Core Donation. This fu1 is pul aside to cover core work costs as well as implementing a CRN system. Designated - Operational reseNe. This lund is to put aside the approximate costs of operating the charty for 6 months. Prepared By AlÈert Gwjman LLP 24
School in a Bag Notes to the Financial Statements For the Year Ended 31 October 2025 12 Anatysl$ ot net assets belween tunds Unres- tricled Unres- Res. trided trlcled Total 2024 tricted Total 2025 Tangible assets Investments Net current assets 10,216 10,216 11,223 404,173 109,545 513,718 258,972 115.295 374,267 414.3 109,545 5¥3.935 270,196 115,295 385,491 13 Related party transactions Home Farm Break During the year, the charity pahy £9.017 (2024: £7,936) for rent and ulililies to T W Marsh and Sons, a business which is owned by close famity of the Chief executive. During the year, two trustees dated £3.000 to the tharity (2024.. £nil}. Sch1 in a Ba Tradin Ltd During the year. the charity charged managemenl fees of £41.667 (2024.. £39.1571 to its subsidiary, whlch was Ind in debtors due under one year * the year end (2024: £nil). 14 Company Ilmlted by guaranlee The Company was incorporated as a ccrfmpany limited by guarantee and has no share capilal. The guarantee to Ihe company is £1 per member ¢Jn the winding up of the company. At 31 October 2025 the company had seven members and the total amount guaranteed was therefore £7. Prepared By Albert Gc(*Jman LLP 25