2023-12-31-accounts

Trustees Report and Accounts for the period 1 January 2023 to 31 December 2023

Registered Charity Number 1187749

Kizazi Trustees Report and Accounts

for the period 1 January 2023 to 31 December 2023

Contents	Pages
Offcers & Professional Advisers	2
Trustees’ Report	3
Independent Examiner’s Report	17
Statement of Financial Activities	18
Balance Sheet	19
Statement of Cash Flows	20
Notes to the Accounts	23

Kizazi Annual Report and Accounts 2023

1

Officers and Professional Advisers

|Board of Trustees|Vandana Goyal | Chair
Veda Sunassee (term began May 2023)
Larisa Hovannisian (term began May 2023)
Folasade Adefsayo (term started December 2023)
Seema Bansal (term ended October 2023)
Susannah Hares (term ended February 2023)| |---|---| ||| |Founder and CEO|Nicholas Canning| ||| |Registered Charity Number|1187749| ||| |Address|30 London Fields East Side
London E8 3SA| ||| |Independent Examiner|Gregory Smye-Rumsby ACA CTA
Dixon Wilson Chartered Accountants
22 Chancery Lane, London WC2A 1LS| ||| |Bankers|Barclays
120, Moorgate, London, EC2M 6UR|

Legal Status

Kizazi is an independent charity registered as a Charitable Incorporated Organization by the Charity Commission for England and Wales with registration number 1187749. Kizazi was registered on 4th February 2020.

Kizazi Annual Report and Accounts 2023

2

Trustees’ Report For The Period 1 January 2023 to 31 December 2023

I. Our Mission

Kizazi exists to ensure this generation of children are empowered by education to thrive, wherever in the world they grow up.

To deliver on this purpose, we work with local NGOs and government partners in low-income countries to design and spread locally relevant school models that develop the whole child and transform their learning.

II. Why We Exist

Across the world, about 1 billion children are multidimensionally poor, lacking necessities as basic as nutritious food or clean water (UNICEF). Risks of conflict, climate change, and diseases further exacerbate their suffering. Kizazi works with children attending government schools in such adverse contexts in Africa and Asia.

The prevailing school designs in under-resourced contexts fail to support the needs and holistic development of children. The curriculum and intended learning outcomes are not aligned with the demands of the 21st century and the needs of the region. Rote-based teaching approaches do not reflect our growing understanding of how children learn. Multi-generational poverty hinders cognitive abilities and prevents children from participating in class, which the schools are not designed to respond to. Consequently, learning levels remain low, and children are unable to lead thriving lives.

Therefore, at Kizazi, we believe that we need to fundamentally challenge the status quo and bring innovation in school design and system reform. Our charitable objective is to advance the education of the public in general and in particular to assist worldwide in the provision of technical resources, support, and information to individuals,

organisations, and groups to increase their capacity to develop, manage and run schools for the public benefit, with the objective to improve the quality of education in deprived communities.

Kizazi Annual Report and Accounts 2023

3

III. Our Solution

Kizazi’s system transformation program enables local education leaders to implement and scale locally appropriate school models that develop the whole child and transform their learning. We begin by redefining the purpose and outcomes of education that children need to thrive in their local contexts. We then bring change in four key areas of how schools operate to deliver the renewed outcomes.

And our solutions are rooted in three key principles core to our mission - “whole-child”, “whole-school”, and “contextual”.

To redesign schools & transform education systems we work in deep long-term partnerships with local NGO and government partners.

With this approach, we have been working with four government systems across India, Armenia, Sierra Leone, and Liberia.

Kizazi Annual Report and Accounts 2023

4

IV. 2023 Activities, Highlights, and Performance

In 2023, along with our local NGO partners we worked on redesign projects with four government systems reaching over 30,000+ children across Sub-Saharan Africa and Asia. Through our work, we have developed strongly evidenced local innovations, which are improving learning and well-being for rapidly increasing numbers of children. We are also beginning to see the influence of our partners’ school models spread widely beyond our core intervention schools. Below are the key highlights of Kizazi in 2023.

1. Our work in 67 schools in Sierra Leone as part of the Sierra Leone Education Innovation Challenge (SLEIC) is delivering promising whole-child outcomes

Kizazi and our local partner in Sierra Leone, the National Youth Awareness Forum (NYAF), are working together to deliver an ambitious project to transform holistic learning outcomes for ~20,000 children in rural Sierra Leone as part of the Government and Education Outcomes Fund’s SLEIC Program. After a rigorous selection process that ran for 6+ months, our consortium led by NYAF and backed by Rockdale Foundation, was one of the five service providers selected for the program. SLEIC is a three-year “impact bond” based program where the payments for the intervention will be based on the gains made in learning outcomes.

Starting in September 2022 we launched the program in 67 schools across the districts of Moyamba, Bonthe, and Pujehun. The program is rooted in a school model that aims to support children, educators & communities with positive relationships, an environment of safety, and rich learning experiences.

Key aspects of the program implementation in 2023 include:

1. Learning Model

• Learning materials for teachers and students: Kizazi, along with Madhi Foundation and Sols Arc, led the development of semi-structured teacher guides, concept/ practice cards, and student workbooks for English and Math for Grades 1-6. The materials are easy & intuitive for teachers to work with and are based on

Kizazi Annual Report and Accounts 2023

5

RTI’s 5Ts, global proficiency framework, use of mother tongue, and principles for inclusion. These materials were delivered to all ~20,000 children and 300+ teachers in the intervention schools.

• SEL integration: We integrated socio-emotional learning and life skills within the classroom experience by designing strategies such as movement and music to regulate the nervous system, and morning meetings to forge meaningful peer and adult relationships. These strategies have been explicitly included in the teacher guides and training modules for teachers and coaches.

• Revision in timetable: We developed a new timetable with an extended 45-minute time for literacy & numeracy, a 15-minute dedicated slot for each start and end of day SEL routine/ story time, and 25 minutes for teachers to plan after school hours.

2. Educator Development

• Educator professional development: Kizazi designed cycles of training, observation, and coaching rooted in building teachers’ and head teachers’ capacities for leadership, pedagogy, school culture, using evidence, and supporting their own well-being. Kizazi’s staff trained our local partner’s 17 School Coaches and Supervisors in delivering these PD cycles to 300+ teachers and co-facilitated multiple teacher and HT trainings on-ground. This has led to annually over 56 hours of teacher trainings for 300+ teachers, 56 hours of training for 67 HTs, and over 3675 classroom observations & coaching conversations.

• Peer-to-peer collaboration: We also established school-based communities of practice to enable teachers to plan collaboratively, observe each other's lessons, and reflect together on what children need. We introduced time in school timetables for peer observation & planning, built the capacity of School Coaches to hold effective cluster meetings for teachers to come together to share every term, and set up protocols for teachers’ online groups.

3. School Structures

• Mother Support Group: We designed the structure of mother groups in schools to interact with students and check in on their well-being, run community awareness campaigns, and for teachers to have a channel to communicate concerns.

• School Management Committees: We built the capacity of School Coaches to work with the school management committee in the development of an effective annual school improvement plan for each school, and in building a strong school-community relationship.

• Monitoring & Evaluation Systems: Beyond the external RCT evaluation being conducted by a third party -

• Kizazi led the development of mixed-method assessments administered by all teachers and coaches to measure learning and wellbeing e.g., internal literacy & math assessments, student wellbeing surveys, and teacher wellbeing surveys.

• Along with a tech partner, we developed the tool and dashboards used by 20+ staff of the local NGO to collect and use the data for decision-making and program improvement.

• We also designed school-level structures for improved M&E - dedicated time for teachers to collaboratively understand and use data at school-level, and student report cards to drive community engagement and accountability.

Kizazi Annual Report and Accounts 2023

6

• We built the capacity of School Coaches to hold effective district-level meetings to share data and co-plan with government representatives each term.

• We are also witnessing a promising impact within one year of the project in both external and internal evaluations. The first-year RCT evaluation in 2023 showed that within 6 months the program delivered 0.088 SD improvement in Maths for girls, 0.034 for boys, and 0.092 SD improvement in English for girls, 0.043 for boys.

In our internal assessments, in English reading, there is a 16% growth in % of children who are at grade level, and in written Math, there is a 20% growth in % of children who are at grade level. Children and parents are also reporting improved levels of safety & care -

• 95% of children in our intervention schools now report feeling safe to make mistakes in school. Similarly, while only 77% of students felt that teachers responded with care at the beginning of the project, more than 95% of students answered affirmatively to the same question in 2023.

• The impact of these shifts extends to caregivers who also report increased confidence in sending their kids to school. In 2022, 73% of caregivers said that their child is respected/cared for in school. This number increased to 91% of caregivers in 2023 after a full year of the program.

• We are also seeing a direct link between teacher wellbeing & foundational learning - e.g., for an increase of 1% in teacher wellbeing score, % of students at higher-level maths proficiencies increases by 2.5%

2. Simple Education Foundation is growing and scaling its impact by working with state systems in India

In India, we work with our partner Simple Education Foundation to transform government primary schools into “Centres of Excellence'' (COE). We started with 3 COE schools in Delhi in 2018 and now SEF’s school model is being implemented in 8 Center of Excellence schools across Delhi and Uttarakhand impacting 1100+ students. The learnings are being used for SEF’s large-scale teacher development program in three states impacting 100,000+ teachers and reaching 5 million students.

Kizazi Annual Report and Accounts 2023

7

----- Start of picture text -----
SEF School Model
----- End of picture text -----

Kizazi has worked with the SEF team to co-design the school model, build their capacity for implementation, provide access to global evidence and experts, and iterate through many cycles of implementation and improvement. In 2023, we continued to work on these areas and strengthen SEF’s state-level teacher development programs with key activities being -

• Bilingual Language Curriculum : We continued our work around the bilingual curriculum and built the SEF team’s capacity to conduct a language study in Delhi & Uttarakhand and to develop a language ladder for a bilingual language curriculum. In doing this, Kizazi worked with SEF to a) gather evidence and data around language usage and needs, b) learn about different approaches and evidence around bilingual and multilingual learning, c) develop language progression framework, K-5 learning outcomes for mother tongue (Hindi) & English aligned to this approach, and d) develop learning materials for bilingual learning. This led to the development of a Hindi-to-English progression plan for language and learning materials including practice cards, fluency guides, and teaching activities. These are being implemented in the SEF-supported schools in Delhi and Uttarakhand impacting 1,100+ children. As a result of this work, SEF was also involved in the design of Teacher Training modules with the SCERT, Uttarakhand leading to findings from this work being included in state-level foundational learning programs.

• FLN assessments : Kizazi supported SEF through training and expert reviews to develop comprehensive, aligned, and leveled summative assessments to evaluate all aspects of language (reading, writing, speaking, and listening) and mathematics (conceptual understanding, procedural fluency & application across all domains). These assessments have been used across all of SEF schools in Delhi & Uttarakhand enabling a more accurate identification of learning needs across levels and domains.

Kizazi Annual Report and Accounts 2023

8

• Diagnostics approach: Kizazi facilitated the development of a baseline assessment framework and aligned tools for new state-level interventions. As a result, SEF covered 95+ schools to conduct baseline assessments using indicators, observation tools, and field visit guides contextualised to the Punjab state context.

• Codification and sharing: We developed and shared a school model summary of SEF’s Centre of Excellence program capturing the context, design principles & approach, and a day at SEF school. This was published on Kizazi’s website and shared on a webinar with practitioners from across the world.

The work has consistently delivered improvement in learning outcomes. In the academic year 2022-23, schools reopened after the COVID-19 closures and SEF’s Centres of Excellence continued to deliver promising learning gains.

Statewide in-service teacher training program in Delhi also shows classroom-level shifts in teaching practices and student engagement.

3. Seroond Schools in Armenia continue to expand, deliver gains in student learning, and work closely with the national government

Kizazi Annual Report and Accounts 2023

9

In Armenia we have worked with our partners Teach For Armenia and the local government since 2019 on Seroond Schools, a first-of-its-kind program in the country to transform government schools for holistic learning. Seroond started working in its first school in 2020 and is now a network of 6 schools across multiple regions with an official mandate from the national government to replicate the program across the country.

With a renewed purpose of education to bring a sense of safety, honor, & collective dream to the children of Armenia, Seroond & Kizazi developed the Seroond School Model.

Kizazi has worked with the Seroond team to develop and strengthen the school model prioritising the work in the following key areas:

• Purpose & outcomes: a statement and framework aligned to the 6Cs framework of whole child development

• Academic learning model: approach to “Change-based Learning” and maths and reading assessments

• Whole child development model: socio-emotional learning structures and school-specific strategies

• Educator development: training modules, observation tools, coaching method, and peer support structures

• Community engagement: approaches to community and parent meetings, workshops, and events

• Learning & Evaluation: school evaluation framework and tools, and teacher and student learning tools as well as process and tools of analysing & reporting outcomes at all levels of the school & program

• Multi-year operational plans & handbook for the team to replicate the Seroond school model

In 2023, we continued to work on these areas to strengthen and scale the Seroond model, with key activities being -

• We codified and shared the Seroond whole-school whole-child model along with three signature school practices and their implementation templates. These knowledge pieces were published on Kizazi’s website.

• We co-developed a leveled Armenian Language assessment framework, assessment tools, and guides for in-class support along with data entry tools & dashboards.

Kizazi Annual Report and Accounts 2023

10

• We conducted weekly check-ins with the Seroond team to build capacity around LDM needs for well-being, response to war, & SEL-focused needs for grades 5-8

• Co-developed application to the government for a new leapfrog initiative called the Authored School

• We supported reviewing long-term strategy and theory of change for Seroond and facilitated workshops to inquire into choices and strategies

The Seroond program has consistently delivered improved learning outcomes year on year. In the annual endline assessment in June 23, all four Seroond schools (Takhta, Alaverdi, Ijevan, and NKA) showed promising gains in Math and Literacy.

----- Start of picture text -----
Average Math scores Average scores in the Armenian language
----- End of picture text -----

On life skills as well, measured through a research-based tool, students have demonstrated substantial growth.

4. We launched a new partnership in Liberia to deliver whole-child outcomes for 10,000 children and develop a replicable model

We launched work with a new local partner, UMovement, to transform 40 government primary schools in Liberia as part of a state initiative, and through the program we aim to develop a replicable model for the government to scale. We launched the partnership with an on-ground visit to understand the context and the purpose & outcomes of education needed in Liberia’s context. Over the next few years, we will design and implement four key areas of shifts (collectively termed as “school model”) in the 40 intervention schools -

Kizazi Annual Report and Accounts 2023

11

1. Learning Model ● Pedagogy based on whole-child principles of building trusting relationships, responding to variabilities, fostering the mind-body, and integrating academic and life skills

● Language and math curriculum based on RTI’s 5Ts, global proficiency framework, use of mother tongue, and principles for inclusion

● Textbooks and workbooks that are based on the above pedagogy and curriculum

● Dedicated time in school-day for SEL lessons, sharing circles, and morning meetings

● Accelerated learning program for age-appropriate grade placement of overage children

2. Educator ● Teacher guides with lesson plans and strategies to deliver development whole-child learning ● Annual trainings on whole-child pedagogy, termly data-based refreshers, monthly well-being circles, and weekly individual coaching

3. M&E systems ● Mixed-method assessments administered by teachers and coaches to measure learning and wellbeing

● Dedicated time for teachers to collaboratively understand and use data

● School-level report cards to drive community engagement and accountability

4. School ● Monthly family engagement through parent-teacher conferences structures ● Mother support groups to lead girl empowerment and safety ● School-level cultural events to build joy and belonging

We are currently in the design phase of the project, where we are designing the different elements of the school model. From 2024, we will begin phased implementation of the model by building the capacity of 14+ School Coaches and Program staff of UMovement to adopt and implement the model. This will be accompanied by a comprehensive baseline evaluation and subsequent termly and annual evaluations.

5. We continued to strengthen our organization across multiple areas

• Board: We elected three new members to the Board

• Larisa Hovannisian: Larisa founded Teach For Armenia in 2013 which has since grown to become one of the most prominent educational organizations in Armenia, impacting over 30,000 students in more than 100+ rural communities across the country

• Veda Sunassee: Veda has served several roles in the African Leadership Group - a pan-African initiative to develop 2 million African leaders by 2035. As the CEO of African Leadership University, he currently oversees operations across both the Mauritius & Rwanda campuses.

• Folasade Adefisayo: As the Hon'ble Commissioner for Education in Lagos State, Nigeria, from 2019 to 2023, Folasade was instrumental in implementing educational reforms, demonstrating unwavering commitment to enhancing education in Nigeria.

Kizazi Annual Report and Accounts 2023

12

We are also grateful to Seema Bansal for her contributions to Kizazi as she stepped down from the Board in October 2023.

• People: Romana Shaikh took on an expanded “Co-founder and Chief Program Officer” title to reflect her role in building Kizazi and to support her to play a greater role in representing us externally. We also hired two new full-time staff members in the role of Head of Development & Communications and Lead of India and Armenia Programs.

• Knowledge sharing: We shared our learnings at multiple local and global education conventions - Roundtable with Brookings and Delhi Government, Origami 2023 in India, Let There Be Teachers Conference in Nigeria, Re-rooting in African History Summit, Nigeria Evidence Summit, UKFIET 2023 Conference in Oxford, and the SALEX Conference in Colombia. Across all these platforms a common theme was us sharing our findings and evidence of whole-child school design. We also led learning sessions for an FLN-focused community of practice with Global Schools Forum and our own organized webinars with education practitioners. We launched a knowledge portal on our website where we shared school model summaries from our work in Sierra Leone, India, and Armenia as well as codified signature practices of these school models for practitioners to adopt.

Public Benefit

When reviewing our aims and objectives and in planning our future activities, we have referred to the Charity Commission’s general guidance on Public Benefit and on running a charity (PB2). The Trustees’ focus has always been to measure how planned activities will contribute to the aims and objectives they have set.

Structure, Governance, and Management

Kizazi is registered with the Charity Commission for England and Wales as a Charitable Incorporated Organisation.

Kizazi is managed by a Board of Trustees appointed to three-year terms. The Trustees during the year and currently (and other Officers and Professional Advisers) are as noted on Page 2. All our Trustees give their time on a voluntary basis and are passionate advocates of the charity’s work.

The Board meets virtually 3 times a year with frequent individual teleconference meetings as needed. The skills, experience, and commitment of our Board of Trustees are regularly reviewed. Where there are gaps, potential new trustees will be invited to an informal interview with the Chair and other trustees and to attend a Board Meeting as an observer before a formal appointment is made.

Risk Management

Kizazi Annual Report and Accounts 2023

13

The trustees continually assess the major risks to which the charity is exposed and systems have been established to mitigate these risks. The charity's risk register is reviewed annually at the Trustees' meeting.

The principal risks identified are:

• securing sustainable income and maintaining an adequate level of reserves to meet the charity’s short-term liabilities

• safeguarding children and adults involved with Kizazi

● maintaining the quality of operations and delivering impact as our program scales Cashflow risk is mitigated by quarterly reviews of the funding pipeline for the following twelve months and taking corrective steps as needed e.g., reducing expenditure, and accelerating fundraising efforts. The safeguarding of children and adults is ensured through rigorous implementation of our policies and processes and evolving them to be responsive to current needs. The program quality is carefully tracked through monitoring systems, KPIs, and evaluations.

Pay Policy For Senior Staff

All staff are paid in accordance with a salary scale which is reviewed each year, this includes the CEO’s salary which is approved and reviewed by the Board.

Financial Review

Income and Expenditure

The total income for the financial year was £589,135 and the total expenditure was £604,287.

During the course of 2023, we were delighted to receive unrestricted grants from the Vitol Foundation, the Peter Cundill Foundation, and the Souter Trust. We also received restricted grants from the National Youth Awareness Forum for our work in Sierra Leone, and from the Jacobs Foundation to develop research and evaluation systems for measuring our whole-child and whole-school models.

We also received service fees from Teach For Armenia for our support on the Seroond Schools program.

Against our expenditure we had a total deficit of £15,153, we were able to cover some portion of the deficit using the previous year’s reserves but ended the year with a net negative reserve of £10,375.

At the year-end, we held £157,629 of grant funding in respect of activities that were being delivered the year ended 31 December 2024. The surplus released in early 2024 from these activities covered the overall small net deficit as at 31 December 2023.

Reserves

The trustees’ policy on income reserves is to maintain sufficient unrestricted and restricted reserves to cover the charity's short-term liabilities. At the end of the financial year ending December 2023, our unrestricted income was £327,224 and unrestricted

Kizazi Annual Report and Accounts 2023

14

expenditure was £385,382 leading to a deficit of £58,158 (2022 - £109,601 deficit). Our restricted income in the year was £261,911 and expenditure was £218,905, leading to a surplus of £43,007 (2022 - £34,336 surplus).

The trustees recognise the deficit in the unrestricted reserves which was caused by delays in securing sufficient unrestricted income.

Post the year-end, we have taken multiple steps to build back our unrestricted reserves in line with our reserves policy -

• In line with our financial policies, we are closely tracking each of our project budgets and ensuring there is no overspend

• We have slowed down on hiring substantially and reduced other expenditure heads like travel and overheads till we have improved our reserve position

• We are also working to expand our unrestricted revenue sources including applying for more grant opportunities

Grants Received in Year

Kizazi is grateful for the support during the year of the following:

• Vitol Foundation

• Jacobs Foundation

• Peter Cundill Foundation ● Souter Trust

• National Youth Awareness Forum

Kizazi Annual Report and Accounts 2023

15

Trustees' Responsibilities In Relation To The Financial Statements

The law applicable to charities in England and Wales requires the Charity to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its income and expenditure for that period. In preparing the financial statements, the Charity is required to:

• Select suitable accounting policies and then apply them consistently

• Make judgements and estimates that are reasonable and prudent

• State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements

• Prepare the financial statement on the going concern basis unless it is inappropriate to presume that the CIO will continue in operation for the foreseeable future; and

• Observe the methods and principles in the Charities SORP (FRS 102). The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the CIO’s governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved on behalf of the Trustees

Vandana Digitally signed by Vandana Goyal Nagar Date: 2024.10.15 15:25:10 Goyal Nagar +05'30'

Vandana Goyal …………………………………………………... Chair Of Trustees

Dated:

Kizazi Annual Report and Accounts 2023

16

Independent examiner’s report to the trustees of Kizazi

I report to the trustees on my examination of the accounts of the Charitable Incorporated Organisation (“CIO”) for the period 1 January 2023 – 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Dixon Wilson, a firm of Chartered Accountants of which I am a partner has provided bookkeeping services to the Trust and I have applied the FRC’s Revised Ethical Standard in carrying out my examination.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

I have 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:

1. accounting records were not kept in respect of the CIO as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

GREGORY SMYE-RUMSBY ACA CTA Dixon Wilson 22 Chancery Lane London WC2A 1LS

16 October 2024

17

KIZAZI STATEMENT OF FINANCIAL ACTIVITIES ACCOUNTS FOR PERIOD ENDED 31 DÉCEMBER 2013 2023 2023 2023 2022 2022 2022 Note Unrestri¢¢ed funds Restrirted funds Totsl Vnrwtrirte£l fvnds Re#ri¢ted fvnds Tot Income and endowments from: Grants Bank Interesr Other trading activities 297.378 150 29.696 261.911 5S9.289 150 29.696 188.S34 12&629 55 55.844 Total Income 327.224 589.135 24.376 12&629 371.006 Expendlture on: Ch3rltable actlvlties 138S.3821 1218.9051 1604.28n 353.978) 192.2931 1446.2711 Total exp¢ndltuve 1385.3821 1218.9051 1604.28n 353.9781 192,2931 1446,2711 Net Income ¥Jnd net movement In funds 58.158 43.()J7 109.601 34.336 75.265 Net movement of funds 15&1581 43.(YJ7 1109.6011 34.336 175.2651 Reconclllutlon of fvnds Fund5 blf 129.S591 34.336 80.042 80.042 Fund5 clf 87.718 77.343 10.375 29.559 34.336 4.777 AnnLttI Report and Attounts 2023

17 September, 2024

Vandana Digitally signed by Vandana Goyal Nagar Goyal Nagar Date: 2024.10.15 15:25:41 +05'30'

Kizazi Annual Report and Accounts 2023 19

KIZAZI STATEMENT OF CASH FLOWS ACCOUNTS FOR PERIOD ENDED 31 DECEMBER 2023 1023 1022 Note Net cash used in operating activities 96.8n Cash Ilows from inves¢ing a¢tsvitses Interest Net cash provlded by investlng activities Change In cash and cash equlvalents 196.8ni Cash and cash equlv71ents brou8ht lonvard 1496 99.368 Cash and cash equfv￿eTrts carrled forward 2.496 Kil￿ Annual Report and Attounts 2023 20

KIZAZI NOTES TO THE FINANCIAL STATEMENTS ACCOUNTS FOR PERIOD ENDED 31 DECEMBER 2023 l. Accounting policies The principal accounting policies adopted. judgernent and key sources of e5timavon uncerrinty in the preparation of the financial 5ta¢ements are as follows. (a) Basis of preparation and assessment of going concern The financSal scatements have been prepared in *c£ord&nte with Attaunting 2nd Reporting by Charities.. Staremenc of Recommended Practice applitable to tharities prepaTing their actounts in accordance with the Financial Reporting Sfanéard applieable In the UK and Republk of Ireknd {FRS 1021 effÈctiv¢ I january 2019 and the Charftles Act 2011. Kizazi meets the definirion of a public benefii enrtry ut)der FRS 102. Assefs and liabiliiies are inirially recognised ar hist0￿Cal eost or transacu+2n value unless Othe￿Se $￿ted in the relevanc accounong policy n+Xe. The trustees consider rhat there are no material uncenainues abour the CIO'S abiliry ro continue as a going concern. There are no significant areas ol adjustment and key assumprioThs tha[ affecr items in the accounts. (b) Fund accountlng pollcy Unrestricted funds are general lunds that are available for use at the trustees. discretion in furtherance of the objectives ol the charity. Restricted funds represent sums w'ven to the chariry subject to restriction5 as to how the fijnds can be used. (c) Incomln¥ resources All income is recognised in the stacernent ol financial activiues when Kizazi ha5 entitlement to the income. 1¢ is probable that the incorne will be received and the amount of the incorne be measure reliably. Grants are reco8ni5ed whefi the Kizazi has betn fiotified in writyng of both the amount and 5ettlemen¢ date. In the event that a donation is subjec¢ ro condttyons thar require a level of performance before the chariiy is entided to the funds, the income is deferred and Thot re<ogni5ed until either those condityons are fully rnec or the fU￿11￿ent of chose conditions is whdly within the control ol the charity and it is probable that tho% conditions will be fulfilled in the (d) Resour¢e$ expended Liabilitie5 are recogni5ed as 500n a5 there is a legal or con5¢ructive obligation committing the charity to the expenditure. it 15 probable that setdement will be required and the amount ol the obligation can be measured reliabty. All expenditure 15 accounwl for on an accrua15 basis and has been cla$5ffied Under heading5 that aggrega￿ all costs related ¢0 the category. Charitable activiues include staff costs for those individual5 whose time is spent direcdy on further the CIO'5 charitable a1rn5 and the governance and 5UPPOrt costs, in corbnecuon with the managernent of Kizazi including the accountant's fees, organi5ational admini5tratiorb and compliarbce con5tiwtiwal and statutory requirements. Kil￿ Annual Report and Attounts 2023

KIZAZI NOTES TO THE FINANCIAL STATEMENTS ACCOUNTS FOR PERIOD ENDED 31 DECEMBER 2023 l. Accounting policies (continued} (e) Financial instruments Financial instrurnenrs are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the in5¢rumenL Financial assets and lbilive5 are offseL with the net amount5 pre5entsd in the financial statements, when there is a legally enforceable right ¢0 set off the recogni5ed amounts and there is an intention to 5etde on a ne¢ basis or to reali5e the asset and 5ettJe the liability simultaTheousfy. Basic financial a55ets Basic financial asset5. which include receivable5 and cash at banl are inivally measured at cr4n5actyon price including ts7nsaction cost5 and are 5ub5equently carried at amorti5ed cost using the effectyve intere5¢ method unle$5 the arrangement constitutes a financing trdn5ac¢ion, where the transaction 15 rneasured at present value of the future receipts discounted a¢ a rnarkec rdte ol in¢ere5L Basic financial liabilities Basic financial liabilityes, including ￿￿bles, art iniually rt¢ogNis¢d at trnnsa¢tion price unles$ th arrnngerneni ¢gn51irute5 a financing ¢ran5action. where the debr in5trumeni 15 measured a¢ the pre5en¢ value ol the furure payrntnts di$<ounted ac a market rate ol ihteresL Kil￿ Annual Report and Attounts 2023 22

KIZAZI NOTES TO THE FIP4AN¢IAL sfATEMENTS ACCOUNTS FOA PEWOD ENDEO 31 DECEMBER 202J l Grant Income 1•2J 2012 Grnnts from institutsrK& Imte 31 5S9J89 559.289 J. Grants fvom Iii%tltiitlons 201J 202J ZJ 2011 2021 Vbtol Founditiun PttEr CuDdill Founditla U8S Opdmus Founthdo Rock4ile Foundid¢ Warerbo Fojndaiion Niii<>nal Youth Awir&n•u For￿ 9vTr Lo jacobi FoL￿at1 Souter Trust 232M76 61M46 231076 61M46 84.2n 91.654 li 84.ln 91.654 12.6Q6 36.941 10.oc 31941 n356 189.5S5 llJ56 189.555 3.456 559.289 3.456 297.3779 189.534 12&619 4. ¢)th¢r tyadlnl Ktlvltlei 2023 2022 S•rYlc• fe•1 canwbncy nk IntErest 55W 29 55044 All gthw InEorn• y•ar and ¢F• Kil￿ Annual Report and Attounts 2023 23

NOTE5 TO THE FINANCIAL STATEMEF4TS ACCOUNTS FOR PERIOD ENDED 31 DECEMBER2023 1023 1013 2022 Its21 . Chthtsble Wage5 5alane5 OutsourcEd waues 18&164 77.353 6￿331 221252 2(I1575 107.642 171832 703 4.642 50A93 27.164 177.474 109.676 1(4244 123.222 C¢¥Mul￿nCYle 325.964 204.620 320MI 81699 403.390 d obiectives. . Ouisourced cosu lndudEconv￿e4 iTaff and the L . Ouisourced reprexnithtwl4rnoTrUK hre4 tr￿0￿￿h F4yrdl riiThR of the Oursourced wales and Ouuourced ￿Trice costJtrAve be￿ warlted ouitrcon 1022 cffjwxth and prior io thac were ￿lI￿rnale4 ufiderCMhuource4 Ser￿¢ Cost IIS6 1156 2&107 Trnvel trxpths•i IT & 1&787 13.W JQ274 5.791 9.S94 Jh16 7.791 3.897 1th920 l.D23 1.426 7)1 Gow•rnanc• cosu Ib4¢wl èafflkcharA•I L•pl aThd Advorrlsl i.sÉo 1.560 3.416 73¢ 5197 5.997 c￿l￿￿n¢• F••i 450 For4w tx¢hary 1051¢￿(￿￿) 9.439 9.439 73.703 ithc41 )).247 10.wi 41981 14.2¢4 9.594 TO￿ qwndltur• on 385.382 21&905 1.287 3S3.970 92.293 446.271 A¢ 2ty11 C60.(W- C70.( C$O.(W. Cg0.(K) cioo.Iw- ci 10.r C120.IW- c130.rmi Th¢ number dsfJtf diredy in thE ywwtwo12021- tywl. £121.*kl12021- CIQ5.5(4)). Kil￿ Annual Report and Attounts 2023 24

KIZAZI NOTES TO THE FINANCIAL STATEMENTS ACCOUNTS FOR PERIOD ENDED J I DECEMBER 2013 6. Cash 2023 2022 Cash at bank and in hand 113.773 2.496 113,773 2,496 7. Debtors 2023 2022 Prepaymen Accrued incorne Other debtors Taxation and social security 5,231 29.696 3,468 18.427 40.781 21,895 . Crtdltort 102J 2012 Taxarion and social secU￿rY Arcrual$ Deferred income 11.469 8.145 7,301 1 $7.629 164.930 19.614 Kil￿ Annual Report and Attounts 2023 25

KIZAZI NOTES TO THE FINANCIAL STATEMENTS ACCOUNTS FOR PERIOD ENDED 31 DECEMBER 1023 9. Taxation Kizazi is a rtwstered charity and as such is exernpt from tsx on irs Ir￿Me to the extent this 1$ 4)plied for charitable purposes. Atjl Oecember At l January In<omSh% Resourtes 2023 reSoU￿e$ expended Transfers 10. Analysls olfunds 2023 Analysis offund movements Unrestricted fund Resrri£ted funds 129.5591 34.336 327.224 1385.382) 1218.9051 187.7181 77,343 Total fvnds 4.777 589.135 604.287 10.375 I l. Analysls ol net a$￿tI between fvnds un￿tArted Restrlcted To¢al 2023 Tot•1 1021 Fund 631ances as at 31 DecembEr 2023 art represented br Cash at bank Debtor5 Crtdieors 113,773 136.4301 13,773 40,781 1164.9301 2,496 21,895 77.211 1164.9301 87.719 77.343 10.376 4.777 UrtrÈtrltted funds. comyises thE undistributed income of the charity which the Trustees are free to Use in accordance Wilh the charitls objectives. Restricted funds- comprises Krants and dcfiations made ￿ order to fund the thariw's researth affid work with drtner schools. 12. Tru5tees' remuneration None of the Trustees were reimbursed for expenses or recefftd ny reTr￿n￿?￿on during the year. Kil￿ Annual Report and Attounts 2023 26

KIZAZI NOTES TO THE FINANCIAL STATEMENTS ACCOUNTS FOR PERIOD ENDED 310ECEMBER 2023 13. Recon¢iliation of net movements in fiJnd5 to net cash Ilow from opwating a¢uvities 2021 2021 Net [novem￿¢ in lunds Oeduci income from invesunen IncrwellDecre45el In crediror5 Ilncrea5ellDecrea5e in ￿ebL(￿S 175.2651 1150) 1101.6461 eo.039 118M8 N•t u￿d In opEratlnE actl¥ltles 9&872 Kil￿ Annual Report and Attounts 2023 27