## **TRUSTEES’ ANNUAL REPORT**
# **For the period beginning: 1 January 2023 Ending: 31 December 2023**
- - Ref: TRTP TAP 4
**Charity name** The Road to Parity
**Registered charity number** 1187425 **Charity's principal address** Office 4, Westminster Chambers 106 Lord St Southport PR8 1LF Email: steps@theroadtoparity.org Website: www.theroadtoparity.org
## **TRUSTEES**
|**No.**|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**|
|---|---|---|---|---|
|1|Jonathan Hill|Founder & Chair|||
|2|Richard Owens|Secretary|||
|3|Margaret Evison||||
## **ADVISORS**
|**ADVISORS**|**ADVISORS**|**ADVISORS**|
|---|---|---|
|**Type of adviser**
**Name**
**Address**|||
|India partner
representative|Sudeep Dube|Learning Links Foundation, Allied House, 2nd Floor, Near
B-7 Post office, Vasant Kunj, New Delhi 110070|
|India partner
representative|Rashmi Mishra|Learning Links Foundation, Allied House, 2nd Floor, Near
B-7 Post office, Vasant Kunj, New Delhi 110070|
|India partner
representative|Rashid Siddiqui|Learning Links Foundation, Allied House, 2nd Floor, Near
B-7 Post office, Vasant Kunj, New Delhi 110070|
## **Structure, governance and management**
## **Trusts**
Type of governing document[The charity is governed by a constitution document, dated 27 November ] 2019. How the charity is constituted[Initially set up as a community organisation, The Road to Parity was] granted charity status in January 2020 as a Charitable Incorporated Organisation (CIO). Trustee selection methods[Trustees to date have been appointed. However, the charity welcomes ] approaches from people not connected to existing trustees.
**2023**
**TAR**
1
## **Additional governance**
The Road to Parity works with an overseas partner in India called Learning Links Foundation (LLF).
LLF is a not-for-profit trust registered with India’s Ministry of Corporate Affairs/Office of Registrar of Companies to undertake Corporate Social Responsibility (CSR) activities (#CSR00000640). It also holds the GuideStar India Gold Seal of Transparency (GSN 1955).
LLF provides on the ground support and has been engaged through a Memorandum of Understanding (MOU). The MOU specifies the nature of the partnership, responsibilities, expected outcomes and monies involved.
## **Objectives and activities**
To relieve poverty in developing countries through the provision of micro **Summary of the objects of the** grants to enable beneficiaries to participate in the local economy and **charity set out in governing** sustain themselves and their families in a manner that would otherwise **document** be beyond their reach. **Summary of main activities** The Road to Parity (TRTP) has been running a poverty alleviation **undertaken for the public** initiative in India called Project Unnati. It has been managed in **benefit in relation to objects** conjunction with partner, Learning Links Foundation (LLF). Under Project Unnati (meaning progress), people in extreme poverty are given the opportunity to start a business with the help of a micro grant. Using a strict screening and monitoring process, entrepreneurs are provided with the equipment and supplies necessary to begin trading. Unlike many similar initiatives in developing nations, the small grant available through Project Unnati is not a loan and does not need to be repaid. TRTP believes people in extreme poverty have suffered enough. In 2023, it became clear that LLF had competing priorities and could no longer support Project Unnati. The focus of activity became wrapping up the project in India and exploring options to continue poverty alleviation work with a new partner - either in India or in another country where there is extreme poverty. (More on this can be found in the Achievements and Performance section). In November 2023, it was formally announced that the partnership with LLF had come to an end.
**2023**
**TAR**
2
**Background: how Project Unnati worked**
**Additional details of objectives and activities**
Project Unnati takes a three-pronged approach:
## **1 - Identifying and selecting beneficiaries:**
Slum and street market areas of the Indian capital, Delhi, are visited to identify aspiring entrepreneurs among the slum and pavement dwellers. Details of prospective beneficiaries are captured in a pre-defined format. Once the details are captured, a screening process starts. Beneficiaries are screened using a strict points system. At its core is identifying people in extreme poverty – households who have been scraping an existence on around £10 or less, per person, per month. Other factors considered include helping the poorly educated, sole breadwinners supporting large families, the physically and mentally challenged, women, victims of domestic violence, and young men struggling on unstable labouring income while supporting families - effectively trapping them in extreme poverty.
**2 - Finalise business needs and secure required equipment/stock:** Once a beneficiary has been identified, a discussion takes place on the equipment, supplies and stock that are required to get the business off the ground. With the agreement of the entrepreneur, the necessary items are sourced and procured. This supervised process is eased for recurrent business ideas, such as the popular vegetable carts and boiled egg stalls. Normally, the grant awarded is around £50. **3 - Three months ‘hand holding’ support:**
Each beneficiary receives support to ensure their fledgling enterprise succeeds, such as guidance on record keeping, negotiation skills, dealing with customers and marketing. This three-month period of support helps overcome initial challenges and provides a path for success. It is made clear from the start that the grant is one-off assistance and there is no coming back for more money.
## **Achievements and performance**
As the ending of the partnership with Learning Links Foundation **Summary of the main** dominated 2023, no new beneficiaries were identified. Four beneficiaries **achievements during the year** did remain from the 2022 funding contingent, and their businesses were activated. This brought the total number of businesses supported under Project Unnati to ninety. TRTP has been working with LLF since 2019 and much has been achieved. Together, the two organisations created an entrepreneur programme from scratch, assisting some of the poorest and most vulnerable people on the planet to transform their lives through entrepreneurship. The businesses were all set up in the slums of Delhi, India. The ventures not only benefit the entrepreneur (often the sole breadwinner), but also entire households, some of which have comprised up to eleven people. In all, around 500 people have benefitted from a Project Unnati enterprise. - A wide variety of businesses have been supported. Many were street
**2023**
**TAR**
3
## **Achievements and performance**
## **Summary of the main achievements during the year cont’d**
based - selling clothes, household goods, jewellery, cosmetics, fruit and vegetables, as well as tea and snacks. Other ventures have been created to repair bicycles, carry out air conditioning repairs and welding. There have been home-based businesses too, such as tailoring and ironing. Project Unnati started funding businesses in the months before the Covid pandemic struck. Despite this, a survey conducted in 2022 reported a success rate (continuing to trade) of 84%.
TRTP has attempted to communicate some of the deep and complex challenges that beneficiaries face on a personal level. Compounding the extreme poverty, many of the beneficiaries are illiterate, while others have been victims of domestic violence, or are mentally and physically challenged.
The World Bank has stated there are three different types of pain caused by poverty.
1. Physical pain that comes with too little food and long hours of work
2. Emotional pain stemming from the daily humiliations of dependency and lack of power
3. Moral pain from being forced to make choices such as whether to pay to save the life of an ill family member or use the money to feed their children.
The charity will continue to communicate and highlight these struggles where appropriate, while celebrating the efforts, resilience and success of beneficiaries.
Given the complexities surrounding poverty, and the additional agony of Covid, it is truly remarkable what those who have been supported have achieved.
**2023**
**TAR**
4
## **Financial review**
|**Brief statement of the**
**charity’s policy on reserves**
**Details of any funds materially**
**in deficit**
**Further financial review**
**details**|As the charity provides only one-off grants, there are no ongoing
programme costs in the field. Once the businesses have been set up,
they operate on a commercial basis and are self-sustaining. This
minimises the necessity for reserves.|
|---|---|
||There has not been a financial deficit since TRTP was set up in
November 2018.|
||In 2023, proactive fundraising was put on hold due to the end of Project
Unnati in India. Commitments made to beneficiaries had been funded in
2022, although a handful of business activations spilled into early 2023.
It was felt further proactive fund raising should wait until a new
programme and partner were firmly in place.
That said, some donations continued to be received from members of the
public and affiliate marketing activity with Amazon, and easyfundraising
remained in place.
Unsurprisingly, the conclusion of Project Unnati meant expenditure
contracted to the most basic level, i.e. bank account charges. Much work
has taken place to shed this account levy and return to free banking – but
this is becoming increasingly challenging in the UK banking system. Work
to find a solution is ongoing.
No external parties were engaged for communications and marketing
services, and all communications activity is organic (not paid). Website-
related charges were Trustee-funded.
Staff involved with the charity continue to work on a voluntary basis
(although expenses are accommodated where necessary for in-market
field workers). These factors are all in line with the charity’s ultra lean
operating model.
The Trustees are responsible for keeping proper accounting records
which disclose with reasonable accuracy the charity’s financial position.
Trustees ensure that the financial statements comply with the Charity
Commission's SORP 2005.
As of 31 December 2023, there was a balance of £1,595. This reflects the
readiness to support more beneficiaries had Project Unnati continued.
**Total income**
£676
**Total expenditure**(no grant provision)
£61
**Bank balance**as of 31 December 2023
£1,595|
## **Declaration**
**The trustees declare that they have approved the trustees’ report above.**
## **Signed on behalf of the charity’s trustees**
**2023**
**TAR**
5
|**Signature(s)**
**Full name(s)**
**Position (eg Secretary, Chair,**
**etc)**
**Date**|||
|---|---|---|
||Jonathan Hill||
||Chair||
||29 October 2024||
**2023**
**TAR**
6
**THE ROAD TO PARITY No (if any) Receipts and payments accounts For the period** 1/1/2022 **To from**
**No (if any) pts and payments accountsts and payments accountspayments accountsayments accountsyments accountsments accounts CC16a** 1/1/2022 12/31/2022 **To**
## **Section A Receipts and payments**
|**Section A Receipts and payments**|||||
|---|---|---|---|---|
|**A1 Receipts**
DONATIONS
**676**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**676**
**-**
**-**
**Sub total -**
**Total receipts 676**
**A3 Payments**
DONATIONS
**61**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Sub total 61**
**-**
**-**
**Sub total -**
**Total payments 61**
**Net of receipts/(payments) 1,595**
**A5 Transfers between funds**
**-**
**A6 Cash funds last year end**
**-**
**Cash funds this year end 1,595**
**Unrestricted**
**funds**
**to the nearest £**
**Sub total**_(Gross income for AR)_
**A2 Asset and investment sales,**
**(see table).**
**A4 Asset and investment**
**purchases, (see table)**|**to the nearest £**
**Restricted**
**funds**|**to the nearest £**
**Endowment**
**funds**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**|
||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**676**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**676**|**1,913**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**1,913**|
||||||
||**-**
**-**
**-**|**-**
**-**
**-**|**-**
**-**
**-**||
|||||**-**|
|||||**-**|
||||||
||**-**|**-**|**676**|**1,913**|
||||||
||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**61**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**61**|**1,104**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**1,104**|
||||||
||**-**
**-**
**-**|**-**
**-**
**-**|**-**
**-**
**-**||
||||||
|||||**-**|
||||||
||**-**|**-**|**61**|**1,104**|
||||||
||**-**
**-**
**-**
**-**|**-**
**-**
**-**
**-**|**1,595**
**-**
**-**
**1,595**|**809**|
|||||**-**|
|||||**-**|
|||||**809**|
## **Section B Statement of assets and liabilities at the end of the period**
|**Categories**
**B1 Cash funds**
**B2 Other monetary assets**
**B3 Investment assets**
**B5 Liabilities**
**B4 Assets retained for the**
**charity’s own use**|**Details**
BANK
**Details**
**Details**
**Details**
**Details**
**Total cash funds**
(agree balances with receipts and payments
account(s))|**to nearest £**
**1,595**
**-**
**-**
**1,595**
OK
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**Unrestricted**
**funds**
**Unrestricted**
**funds**
**Fund to which**
**asset belongs**
**Fund to which**
**asset belongs**
**Fund to which**
**liability relates**|**to nearest £**
**-**
**-**
**-**
**-**
OK
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Restricted**
**funds**
**Restricted**
**funds**
**Amount due**
**(optional)**|**to nearest £**
**Endowment**
**funds**|
|---|---|---|---|---|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||OK|
|||||**to nearest £**
**Endowment**
**funds**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**Current value**
**(optional)**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**Current value**
**(optional)**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**When due**
**(optional)**|
||||**-**||
||||**-**||
||||**-**||
||||**-**||
||||**-**||
Signed by one or two trustees on behalf of all the trustees
Date of approval
Signature
Print Name
J HILL
1012912024