Foundation For Education To Improve Family Planning Annual Report and Financial Statements Year Ended 31 December 2023 Charity registration number.. 1188260
Foundation For Education To Improve Family Planning Annual Report and Financial Statements Year Ended 31 December 2023 Contents Page Charity Reference and Administrative Details Trustees, Annual Report Independent Auditor's Report Statement of Financial Activities 3-11 12-15 16 Balance Sheet 17 Statement of Cash Flows 18 Notes to the Financial Statements 19-29
Foundation For Education To Improve Family Planning Charlty Reference and Administrative Details Year Ended 31 December 2023 Charity reglstration number 1188260 Trustees Dr Desire Collen Dr Kevin 8umard Dr Da9hni Rajasingam Mr Andrew Edge (appointed 08103120231 Ms Chnstine Elise Juliette Collen (appointed 01112120231 Chief executive officer Mr Chri5 Buyse Reglstered office Flat 33 Swan Court Chelsea Manor Street London SW3 5RX Auditor Redford & Co Limited Chartered Accountants 1¥1 Floor 64 Baker Street London W1U 7GB Banke Triodos Bank Deanery Road Bristol BS1 SAS ABN AMRO Bank NV Borsbeekseburg 30 2600 Antwerpen-Berchem Belgium
Foundation For Education To Improve Family Planning Trustees, Annual Report Year Ended 31 December 2023 The Trustees present their report and the audited financial slalements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial slaternents have been prepared in accordance with the accounting policies set out in the notes lo the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo eharilie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Trustee$ of the charlty The trustees who have served during the year and since the year end were as follows.. Dr Desire Collen Dr Kevin Burnard Dr Daghni Raiasingham Mr Andrew Edge (appointed 08103120231 Ms Christine Elise Juliette Collen lappoinled 0111212023} Structurej goyemance and management We have the pleasure to report on the activities of our fourth working year of FEFP. The 2023 year was a very active year for our charity. Important progress was reported in our four existing projects in Cosla Rica, Guatemala, Colombia and Tanzania. In addition, two exciting new projects received support from FEFP "School Ajpopoli" in Guatemala and Leaving no girl behind" in Sierra Leone Idecided in FY 2023 and started in FY 20241. On 25 February 2020 the Governance document (Charity Commission CIO modell that was approved by the Trustees, was submitted with the registration application to the Charity Commission of England and Wales. The Charity Commission of England and Wales regISted FEFP on 28 February 2020 with Registration Number 1188260. On 26 October 2020 HMRC recognised FEFP as a Charitable Incorporated Organisalion (CIO) for tax purposes in line with Paragraph 1 of Schedule 6 Finance Act 2010. A dedicated website was then developed fof FEFP Iwww.fefp.co.ukl. FEFP was initiated by Em. Prof. Désiré Collen and is governed by a board of Trustees. At regular trustees, meetings, the Iruslees agree the board strategy and areas of activity for FEFP. All trustees give their lime freely and no trustee remuneration was paid in the year. Objectivos and activities FEFP is a CIO with a mission to support education of pre-adolescent youngsters in the field of family planning and health, with reference lo the societal and environmentsl consequences of population growth and poverty. Currently FEFP supports educational projects in Cosla Rica, Colombia, Guatemala, Tanzania and Sierra Leone (since 20241. Over the 2023 year, FEFP provided support lo the following projects". Fundacion Tejedores de Suenos (Costa Rica) FEFP support paid in the year.. £21,636. Fundacion Tejedores de Suefios IFTS, www.ftejedoresdesuenos.orgl is a Costa Rican foundation constituted In 2010 with the aim to "promote education and well-being of Cosla Rican teenagers, through a program of scholarships for secondary school for promising youngsters of low-income families..
Foundation For Education To Improve Family Planning Trustees, Annual Report Year Ended 31 December 2023 With the support of Foundation for Education to improve Family Planning IFEFP), initially via Life Sciences Research Partners ILSRPI and under the guidance of Dr Urbain Boulelegier as the Coordinator of the "Healthy Youth Program" an extended strategy was developed, essentially along the following lines.. Scholarship programmg The scholarship programme wants to achieve more than our students just'passing the year,. Economic support.. provide help with Liniforms, school supplies and bus passes and in some cases, scholarships for sports and cultuol activities of our scholars, in exchange for good results. Discipline.. to remain in the programme, students musl report each month, contribute to a social programme with 4 hours community work per month. Nelwork building.. through the community work programme. the scholars learn that they can also contribute lo society even if they have no economic resources, and at the same time they get a chance to build a network, through which they can improve access lo work opportunities later. Sana Juventud /Healthy Youth Healthy Youth acknowledges that there are many more factors than a lack of money, that cause school dropout, and wants to create awareness around them through social media campaigns and projects. Our main projects in Healthy Youth are.. Al Cole en BIT¢1 A programme aimed al $upplying bicycles to mainly ru1 schools. The schools 'lend' the bike to youngsters who must walk long distances lo school and have no access to or resources to pay for public Iransportalion. The programme ran from 2021 and was successfully ended in 2023, with 1000 bicycles donated lo 66 secondary schools. The National Institute for Learning completed the programme by gi.ng 14 videos on how lo use, maintain and even repair the bicycles. Juntas al Bachi Together with the company Cecropia, now Multiplied, and the community work of the Faculty of Education of the University of Cosla Ri¢a. the Foundation provides a digital platform In which mothers can obtain their secondary school degree studying from home, whenever they have some free space and time. Although not less than 600/0 of Cosla Rican adults never obtained their secondary school degree, the programme aims specifically at mothers because they are the ones who have least options to follow classes ouldoofs or in online synchronous programmes After their first year with the subjects for 'bachillerato' Ilasl years of se¢ondary school), and thanks lo a new alliance with Educandole Ya, the Foundation can now provide the preparation for the entire secondary school. Tallerès Sana Juventud/ Workshops Healthy Youth Teenage pregnancy In Costa Rica fell to about 80/0 in 2022. from 160fi a decade before, but unfortunately, such pregnancy still often results In school dropout. With the support of the Faculty of Social Work of the Universidad Libre de Cosla Rica IULICORII, and the company Bayer, workshops for Ipre-lteens. some of them indeed already moms, throughout the country are organised. Not only topics of important changes during adolescence and methods for prevention of teenage pregnancies, bul also how to recognise an inappropriate relationship - of an underage person with an adult person al least 5 years older, which are forbidden in Cosla Rica Sin 2016- are explained. I00°A en el Cole SinTr 2018 a Congress is organised that brings people and organisations active in the fi'ght against various factors that cause school dropout together. In March 2024 the next congress will deal with Inequality and ils effect on education Iwilh 3 expositions from experts in the field).
Foundation For Education To Improve Famlly Planning Trustees. Annual Report Year Ended 31 December 2023 Cocoa for Schools (Tanzania) The projects in Tanzania are a collaboration betsveen the Foundation for Education lo improve Family Planning IFEFPI and Cocoa for Schools ICfSI. Cfs lwww.cocoaforsehools.bel is a nol-for-profil IVZWI non-govemmenlal organisation INGOI registered in Belgium and Tanzania, started up by Mr Fons Maex, founder and ex-CEO of Kim's Chocolates NV, and governed by a board of Directors. 11 is a social responsibility project focusing on community development and improvement of the infrastructure of primary and secondary schools in the cocoa growing villages in the Southern Highlands of Tanzania. Since 2016, 970 new classrooms have been constructed and another 844 have been renovated. The extensive experti'se acquired In this program is now applied lo the construction of dormitories for girls. In Tanzania, the support of FEFP includes the construction of dormitones for girls as well as the educational project Tuzungumze. Donnltories Rationale The 2023 birth rate in Tanzania was 35. 1 per 1000 people, with a death rale of 6.2 per 1000, and il is only slowly decreasinglsee chart below). Life expectancy is 64 years for males and 68 years for females. Current U.N. Pfojeciions sc.00 4Q.000 0 35.OOD 20.0 1S.QQO Current U.Pl. Projections 1950 ?00 2050 2LOO Thus, il is expected that the population in Tanzania leslimaled al 65 million today} will double by 2050. Over 30 /0 of the women become pregnant before the age of 18, and many much earlier. Furthermore, the home situation often makes it difficult for girls to study Idomeslic tasks, lack of food, sexual harassment ..) As il is increasingly obvious that education is the key lo family planning, a protective environment for gids during secondary school is vital. Therefore, building dormitories represents an important contribution in the strLJggle to limit explosive population growth. General principles The aim of this Collaborative project is lo build dormitories in secondary schools, each for about 80 girls, with supply of drinkable water and appropriate sanitary provisions. Constructions occur in collaboration
Foundation For Educatlon To Improve Family Planning Trustees, Annual Report Year Ended 31 December 2023 with local authorities, with 800/0 of the total cost provided by FEFP and 20Q/o by the local community. Funds from FEFP are made available only when the local 20.kn contribution has been completed. For each dormitory a Memorandum of Understanding IMOUI is signed between the District Council, FEFP and Cfs. The Mou outlines the responsibilities and contributions of each partner and defines quality criteria for the buildings. Construction of domiitories Construction of the buildings is done according lo approved governmental regulations and plans. Each dormitory has stsndard dimensions of 35 x 9 m with an additional sanitary block of 10 x 9 m. Each building consists of a central hall and a corridor with 10 rooms on each side, thus 20 rooms are available for 4 girls each with a centr81 lighted system. For each of the gir15 there is a bed, mattress, cover, and pillow as well as a wardrobe. lamp and electric socket. The sanitary block contains al least 5 showers, 5 toilets lone for handicapped girls), 10 wash-bowls and 2 laundry rooms, all with water outlets. A water well is drilled up to 100+ m deep and a hybrid pump system lon solar energy and ele¢tricilyl provides unfiltered water to the showers and toilets and filtered Iplus UV Irealedl drinking water lo the domiilories and to outside laps. The total cost for a dormitory with furniture and water well system today amounts lo approximately £99.705, of which £27,744 is for the water system. The locations of all the secondary schools can be found on Google Maps. Al the end of the FY 2023, the following projects were finalised or under construction.. Maziwa {Mbeya) FEFP support paid in the year.. £60,8791o finish an already stsrted building. This is a girl only schry)I with 317 children, renamed as TULIA School for Girls. The dormitory deviates from the standard plan. 11 is a T-shaped building for 168 girls with a separate block for toilets and showers, and a 10,000 lilre water tower.11 is now fully operational. Samora Machel {Mbeya) FEFP support approved.. £45,084 to complete an existing building from shell conslruclion. The local contribution has now been completely delivered, and the building looks solid and well-conslructed. This is large school with 1200+ children of which 52Yo are girls. A second dormitory has been started in 2023 and Is up lo lintel level, bul the foundation mLtst be improved before the work can continue. Nyasa L8ke Shore (Kyela) FEFP support paid.. £43,350 to complete a dormitory for 88 gids. 11 is a school with 900 children of which approximately 500 are girls. After Cfs finished the construction, the local community added another T-shaped building with sanitsry provisions. Water is collected from the surrounding mountains and no water well needed lo be drilled. Kafundo (Kyela) FEFP support paid in total £216,750 and about £17,340 supplied by Cfs. Two new dormitories for 80 girls each were constructed, and one was further completed, with water well and tower. A large community hall was built serving as a meeting place and dining room for the girls. In addition, with SLtpport from LSRP 1£15,6061 the laboratories for chemistry, physics and biology were renovated and are now state-of-the-art.
Foundation For Education To Improve Family Planning Trustees, Annual Report Year Ended 31 December 2023 Kiwara Coal Mine (Kyela) FEFP support paid in the year.. £71,672. This is a new building for 80 girls, started up locally and completed by FEFP and Cfs. including water well and pumpllower system. A dining hall has been started but not completed due lo lack of funds. The school has 580 students and is in a remote rural area. The dormitory now houses 80 girls, 60 of which are more advanced students supported by the government. Masukulu (Rungwe) FEFP support paid in the year." £78,214 to complete a new building started locally. It is a standard dormitory for 80 girls including a water well in a school with 600 children. Itewe (Chunya) FEFP support paid in the year.. £72,790 lo Complete a new building started locally. It is a standard domiitory including a water system. It is very well constructed and nicely finished The school has 530 children. Im81ilo Songwe (Mbarali) FEFP support paid in the year.. £58,561 to complete a standard dormitory started up locally. The water well and system were sponsored by Cfs. It is a school with approximately 300 girls and all 80 places in the dormitory are now occupied. The school is in a very dry rural area in Masai territory The accommodation for giAs is particularly important be¢ause of the nomadic nature of the population, allowing girls lo slay on site and to continue their studies. Igava (Mbarali) FEFP support paid In the year." £53,616 to complete a standard dormitory. 11 is a school in a very remote and arid area with 500 pupils of which 59Vo comprises of gids. Izyira {Mbeya) FEFP support paid in the year.. £27,878 to complete a dormitory for 112 girls, with a separate building for showers, toilets and laundry. The school has 265 pupils and is very remote. The water well, pump and tower are sponsored by Cfs. All works have been completed. Ikapu (Busokelo) FEFP support approved.. £77,909. The local contribution of 200A as outlined in the Mou has not yel been provided. They still have to lay one extra layer of bricks for the outside walls and to bring all the inside walls up to the agreed level as well as to complete the septic lank. Katumb8songwe (Kyela) FEFP support approved. £49,419. The local contribution is not yel completed. They have completed the foundations and floor plates and have bought all the bricks for the building bul need lo collect money for sand, cement and iron bars for the lintels. Mamas in Accion (Colombia)
Foundation For Education To Improve Family Planning Trustees, Annual Report Year Ended 31 December 2023 FEFP support paid in the year.. £79,218. Through Juanfe's 360° Model, teenage mothers in 511ualions of vulnerability, risk and exclusion are supported lo generate the necessary skills (being. doing, and knowing how lo dol lo achieve economi¢ autonomy through a decent, formal and stable job and lo develop their maternal role in a responsible way. Through the strengthening of the transformative program "360° Model we seek the social and economic inclusion of 2,900 teenage moms. and as such, lo contribute lo the peace-building process in Colombia through vocational training, job placement and social inclusion through decent work. The 2023 results are impressive.. 1,686 teenage mothers fully supported through our 360° Model. 449 teenage mothers completing a technical Iraining118 months). 464 teenage mothers found a decent and formal job. 5,628 total beneficiaries in Cartagena and Medellin, including families and community members. The major activities are focused around". l. Vocational training 449 teenage mothers in Cartagena and Medellin attended our 18 months vocational training programs in Cooking, Beauty & Hairdressing, Hotel & Tourism, Administrative Assistant, SOare Development and Commercial Assistant. 351 mothers graduated in 2023 and 98 are pursuing their training in 2024. 2. Employment and Opportunity Center ICEOI After graduating from their training, the Employment and Opportunity Cenler further a¢companie$ teenage moms lo achieve labor inclusion This year, 464 moms found decent jobs, 128 completed an intemship and 841 participated in continuous learning programs lo strengthen Iheir technical and soft skills. To achieve these results, CEO is constantly seeking lo expand its neOrk of associated local companies that commit to sUPPOrt Juanfe through sponsorship as well as internship and employment opportunities for the young moms. In 2023, 583 Colombian companies included Juanfe as part of their Corporate Social Responsibility stmtegies. 3. ReplicabilFty The program's powerful impact has led Juanfe to offer methodology transfers of ils "Model 360° al national and international level. After having successfully completed transfers in Panama {20151, Chile 120171 and Medellin 120181. Juanfe recently sealed an alliance with the Hilton Foundation through which, for 2.5 years, 720 Venezuelan migrant women will benefit from capacity building and the necessary tools to obtain and maintain formal and dignified employment in their host country (Colombial. Furthermore, in the Dominican Republic, represenlalives of the national government and the Inter-American Development Bank 11081 have expressed their intention lo have technical assistance from the Foundation in 2024. The 2024 perspectives are.. Creation and implementation of new complementary courses in information and communication technology Ichalbols, social networks, artificial inlelligencel, intercultural and innovative skills (agile pedagogy, creativity. enlrepreneurshipl. Strengthening the monitoring system allowing to assess the impact of the programs more
Foundation For Education To Improvo Family Planning Trustees, Annual Report Year Ended 31 December 2023 a¢¢uralely on the young women we serve and adjust strategies as needed. Establish a relationship strategy with the business sector that allows the consolidation of our dual training offer and a more assertive, effective and sustainable labour insertion of young mothers. School for Hope (Guatemala) via "Education for the children" (EFTC) FEFP support paid in the year". £60,000. In December 2023, FEFP committed an amount of £52,0001£20,000 for the FY 2024, paid in January 2024 and £32,000 for the FY 20251 to support the recovery phase of the School for Hope. This recovery stage begins by making improvements to their core services now and over the coming few years that will enhance the overall quality and gel the students back on track. The School management wanted lo bring back elements of their school day that they had lo reduce or remove altogether Both clubs and importantly, entrepreneurship were cut. Art, dance, sport, cooking, woodwork. sewing and more. These hands-on, active, and expressive skills and interests are vital to form well-rounded future citizens. Maths and literacy are also both areas of focus and Concern in 2024 and will continue to be so in the Coming years. Literacy rates in their youngest leamers were drastieally impacted when the School was closed with a large percentage unable to read and write at the beginning of this year Illiteracy is not a new challenge they have faced bul it is a problem they plan to tackle head on and their long-term goal is for our kindergartners lo go 10 1 st-grade reading, something that is rare in this area of Guatemala. especially In low-income populations. A second area of country-wide concern is with maths. Teachers struggle lo understand and teach the subject and students suffer. This knowledge gap only widened throughout the Covid-19 pandemic but this year they are building on the improvements made in 2022. Better resources, MAP testing for key year groups and lop teacher training would significantly Improve our maths curriculum. Their education curriculum is vitsl but they know their 360 approach lo wrap-around care is what makes us truly special and that is why they know that their soci81 and healthcare programme5 also need improving. The School has a desperate need to improve their Sexual Reproductive Health CUrrcUluM by expanding ils reach to their younger students and improving the frequency al which it is laught. Without a more slruclured and specialist approach to it, they fear the recent trend overhanging from Covid of more teenage pregnancies and unhealthy sexual relationships may persist By employing a specialist in this area, they could leach effectively In junior high, design and implement a curriculum for pnmary school, train parents on the subject, and offer better birth corilrol counselling and referrals to their partner organisation, WINGS. School Ajpopoli (Guatemala) In 2023, FEFP decided to support one addition81 project in Guatemala, 'School Ajpopoli" Ajpopoli vzw is a non-profit organisation founded in 2007, based in Leuven, Belgium {www.ajpopoli.coml. popoli supports a private school 'Cenlro Educalivo Ajpopoli Ak'wala, in the mountain municipality San Juan Comalapa, Guatemala. As a private school, il is not subsidised by the government. Ajpopoli Ak'wala means bringing wisdom to the youth.
Foundation For Education To Improve Famlly Planning Trustees, Annual Report Year Ended 31 December 2023 The vision of Ajpopoli vzw is.. high quality schooling and education are the only way out of poverty and oppression for the underprivileged Maya children. Schooling is the opportunity for a better future. Many students grow up in a single-parenl family. with a low literacy rate. Thanks lo a good basic education, the Maya ehildren develop a solid base, which will enable them to pursue higher studies and will boost their chances in finding a job al a later stage. Furthermore, an equal treatment of girls and boys is essential in the Ajpopoli education plan. Unfortunately, that equality Is not obvious in presenl-day Guatemala. Therefore, the curriculum includes sex education for both boys and girls from the fifth grade on. In secondary school, the focus will be on family planning through corre¢l Infomiation on e.g., contraception, Incest, and partner violence. By making these topics negotiable. we aim lo raise awareness and aspire more individual coaching. Courses are given by qualified and highly motivated Maya teachers. The School also provides medical and social support lo the children and their families when they are in need. 'Centro Educalivo Ajpopoli, Ak'wala, offers education to 300 pupils from third kindergarten up lo third secondary grade 500/0 of the pupils are girls Ajpopoli vzw entirely finances the 24 teachers and staff members 1700/0 women). Fundraising is mainly done through foster parenting, activities, and gifts. All donations go entirely to the school. Good basie education is an essential prerequisite for the prospects of the Maya children. Because of its limited means, the School has not yet been able lo offer ils stL+denls higher secondary studies. Such 8n opportunity would increase their chances on the job market and provide a better prospect lo enter university studies. In the cUrnt situation, our pupils are obliged lo go to schools outside the municipality, which entails higher study and Iransportalion costs. Therefore. they often drop out or combine work with weekend classes, which does not improve the level of education and chances for success. The extension of our school programme with highei secondary studies will certainly benefit female pupils. Traditional Maya families still favour boys over girls, in case they musl pay for the continued studies themselves. Our free" offering will facilitate the decision for these families to allow their daughters lo continue higher studies. This higher study level will give the girls prospects to a beller development, a higher degree of emancipation and finally more conscious and controlled family planning. Organising a higher education department 'Bachillerato en Ciencias y Letras, means that additional study years must be sel up. FEFP agreed lo support the organisation of these two additional study years and committed a total grant of £163,040 of whieh an amount of £50,465 was paid in the year. The remaining balance will be paid in the FY 20241£58,8101 and in the FY 20251£53,7651 The Iruslees confimi that they have referred lo the guidance contained in the Charity Commissioner's general guidance on public benefit when reviewing FEFP'S aims and objectives and in planning future aclivilies. Flnancial review The major asset of FEFP is a 29.7560A shareholding in Fund+ NVISA, an investment fimi, investing in companies active in the sector of Life Sciences and some cash al hand The working expenses of FEFP will be financed by the dividend that Fund+ NVISA will distribute lo its shareholders and from its own cash resources. A dividend of £4,588,784 was received from Fund+ NVISA in June 2024 in respect of the FY2023. 10
Foundation For Education To Improvo Famlly Planning Trustees, Annual Report Year Ended 31 December 2023 FEFP also had (ash funds in ils bank accounts of £3,035,569 and an investmenl portfolio with ABN AMRO Bank NV in Belgium value(J at £13,437.140 at 31 December 2023. For further finanaal information, wè r8fer to the attached financial statements. Going Concern The trustees consider that ts)ere are no material uncertaintes about the charity's ability to (ontinue as a going concern. Plans for future p8riod5 FEFP will continue its approach ol fundin9 educational projects that serves ils objectives. The grants will b8 funded from futu dividend income ceiVed and from current bank balances. Trust•e$' rnsponsibilitiès The trustees are responsible for preparing the Trustees, Annual Report and th8 fin8ncial stat8rn8nt5 in accordan with applicable law and United Kirodom Accounting Standards Iunited Kingdorn Generally Acc8p18d Accounting Practicel. The law applicAbl8 lo charities in England & Wales requir85 the Iruslees lo prepare finanual sta18m8Nts for each financial year which give a true and fair view of the stale ol affairs of the charity and of the incoming resources and application of resourc85 of the charity for that period. In pParing these financial statement5, the trustees a reqUId to.. S818ci Suitable a¢¢ountino policies and then 8pply them consistently., obs8rv8 the Methods and principles in the Chariti85 SORP 2019 IFRS 1021.. make judgements and estimatès that are reasonable and prudent.. stste whether applicable a¢(ounting Standards have been follDv4ed." prepare the finanaal statements on the gcing wncern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are raspon5ible for k88ping propèr accounting ¢)rdS that disdose with reasonable accuracy at any tim8 lh8 financial position of th8 charity and enable theffl to ensure that th8 finan1 slaternents mply with the Ch8ritl88 Act 2011, the Charities IAccounls and Reports) Regulations 2008 and thè provisions of the constitution. They are also sponSible for safeguarding the assets of the ¢harily and h8nc8 for taking 8$onable steps for the prevention and (Jeleclion of fraud and other irregularities. The trustees are responsibje for the maintenance and integrity of the charity and finanoal information included on the tharity's website. Legislation in the United Kingdom governing the preparation and dissernination of finanoal 51atement5 rnay differ from legi51alion in olherjuri5dictions. Oisclosure of Information to the audltor Each trustee has taken $18PS that they ought to have taken as a tIU51ee in order to m8k8 themselves aware of any relevant audit information and ¢0 establish that the charity's auditor is 8W8re of that inforrnation. Th8 tru5t88s confirm that ther8 is no r81evant information that they know of and of which th8y know the auditof IS unawar8. Approved by the trustees on 28 June 2024 and signed on ¢heir beha by.. Dr
Foundation For Education To Improv8 Family Planning Independent Auditor's Report to the Trustees of Foundation For Education To Improve Family Planning Year Ended 31 December 2023 Opinion We have audited the financial statements of Foundation For Education To Improve Family Planning (the 'charily'l for the year ended 31 December 2023 which comprise the Slalement of Financial Aclivilie5, Balance Sheet. Statement of Cash Flows and notes lo the financial slatemenls, including significant accounting policies The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United kn'ngdom Generally Accepted Accounting Practice). In our opinion the financial slatemenls.. give a true and fair view of the stste of the charity's affairs as at 31 December 2023, and of ils incoming resources and application of resources. Including its income and expenditure, for the year then ended. have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice, and have been Pfepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charity In accordance with the elhieal requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concem In auditing the financial slalements, we have coneluded that the trustees, use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability lo continue as going conrn for a period of al least tsvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Iruslees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the trustees, annual report. other than the financial statements and our auditor's report thereon.The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon Our responsibility is lo read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies Of apparent material misslalemenls. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is material misstatement of this other informabon, we are required to report that fact. We have nothing lo report in this gard. 12
Foundation For Education To Improve Family Planning Independent Auditor's Report to the Trustees of Foundation For Education To Improve Family Planning Year Ended 31 December 2023 Matters on which we are rpquired to report by exception We have nothing to report in respect of the following matters in latIon lo which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if, in our opinion.. the information given In the financial statements is incon51slenl in any material respect with the trustees, report.. or the charity has not kept adequate accounting records., or the financial statements are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit. Responsibillties of trustees As explained more fully in the trustees, responsibilities statement sel out on page 11, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such Internal control as the trustees determine is necessary lo enable the preparation of financial slalements that are free from material misstatement. whether due lo fraud or error. In preparing the financial slatemenls, the Iruslees are responsible for assessing the charity's abilty lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of aceounling unless the Iruslees either intend to liquidate the charity or lo cease operations. or have no realistic allernalive bul lo do so. Auditor's responsibilities for tho audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when it exists. Misstalemenls can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatemenls. ltregularilies, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our 5F)ons1btjl1ieS, outlined above, to delecl material misslalements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Capability of the audit in detecting irregularlties, including fraud Based on our understsnding of the charity and the sector that it operates in, we identified the principal risks of non-compliance with relevant laws and regulations, and we considered the extent to which non- Complian might have a material effect on the financial slalements. We also considered Ih05e laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. We evaluated trustee's incentives and opportunities for fraudulent manipulation of the financial Statements (including the risk of override of conlrolsl, and determined that the principal risks were related to funds being improperly used and not in accordance with trustees directions. Appropriate audit procedures were then performed In response lo the identified principal risks and these included.. 13
Foundation For Education To Improve Family Planning Independent Auditor's Report to the Trustees of Foundation For Education To Improve Family Planning Year Ended 31 December 2023 discussions with the trustees. including consideration of known or suspected instances of non- compliance with law5 and regulations and fraud. obtaining and reviewing supporting documentslion relating to financial transactions carried out by the charity in the year. challenging estimates and judgements made by the Iruslees in their significant accounting estimates that involved making assumptions and considering future events that are inherently uneertain. corroborating our enquiries of trustees through our review of board minutes and inspection of the charity's regulatory and legal correspondence. 8ecause of the inherent limitations of an audit, there is a nsk that we will not delect all Irregularities, including those leading lo a material misstalemenl in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation Is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresenlalion. As part of an audit in accordance with ISAS IUKI. we exercise professional judgement and maintsin professional sceplicism throughout the audit. We also.. Identify and assess the risks of materi81 misstatement of the financial sl8temenls, whether due to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not detecting a material misslaternent resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal conlfol. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related to events or conditions that may cast significant doubl on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidenee obtained up to the dale of our auditols report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentslion lie. gives a true and fair view}. We communicate with those charged with governance regarding, among other matters, the planned scope and liming of the audit and significant audit findings, Including any significant deficiencies in internal control that we identify during our audit. 14
Foundation For Education To Improve Family Planning Independent Auditor's Report to the Trustees of Foundation For Education To Improve Family Planning Y8ar Ended 31 December 2023 Use of our report This report is made solely to the charity s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity's Iruslees those matters we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's Iruslees a5 a body, for our audit work, for this report, or for the opinions we have formed. 4Q4 Redford & o Limited Slatulory Auditor Chartered Accountants 15l Floor 64 Baker Street London W1U 7GB 28 June 2024 Redford & Co Limited is eligible lo act as auditor in terms of section 1212 of the Companies Act 2006. 15
Foundation For Education To Improve Family Planning Statement of Financial Activities Year Ended 31 December 2023 Yle 31112123 Yle 31112123 Ple 31112122 Unreslrictett funds Total funds Tobi funos Note Income and endowmgnts from: Donations and legacies 385,000 385,000 Investrnent income 87.621 87,621 1.028,704 Total income and endowments 472,621 472,621 1,028,704 Expenditure on: Charitable activities 1710,1091 1710,1091 1180,199) Investment manager fees {78,0261 178,0261 155,4521 Other 1271,6021 1271,6021 114,932 Tot•1 expenditure 11,059,737) 11,059,737) 1120,7191 Nel gains I Ilossesl on investments 3.875.281 3,875,281 11,615.7661 Net income I lexpendlturel and movement in funds 13 3,288,165 3.288,165 {707,781} Reconciliation of funds- Total funds brought forward 48,426,363 48,426,363 49,134,144 Total funds caled forward 13 51,714.528 51,714,528 48.426,363 All income and expenditure derive from continuing activities. The slalement of financial activities ineludes all gains and losses recognised during the year. 16
Foundation For Education To Improve Family Planning Balance Sheet Y•ar Ended 31 DeCeMr 2023 31 December 2023 31 December 2022 Fixed as58ts Investrnents 48,722,475 44.566,582 48,722,475 44,566.582 Current as8•ts Cash at bank and in hand 3,035,569 3,905.017 3,035,569 3,905,017 Creditors: amounts falling duè within one yoor 12 143,5161 145,2361 Net current assets 2,992.053 3,859,781 Total assets less ¢urr•nt liabilities 51.714,528 48.426,363 Net assèts 51,714,528 48,426,363 Charity Funds Unrestricted funds 13 51,714,528 48,428.363 To¢al ¢harlty funds 51,714,528 48,426,363 The finanoal 5tat8ments wer8 approved and authorised for issue by the Board on 28 June 2024. Signed on behalf of the board of trust888 DrD en. Trustee The not88 on page$ 19 to 29 form part of these financial statemer)ts.
Foundation For Education To Improve Family Planning Statement of Cash Flows Year Ended 31 December 2023 Yle 31112123 Ple 31112122 Note Cash flow from operating activities 15 1676,4571 1120,7891 Net cash flow from operating activities 1676,4571 1120,7891 Cash flow from invpsting activities Nel payments to acquire investments Interest received Capital gains distribution Dividends received 1280,612} 13.129,6961 40,303 4,399 3.424 1,020,881 47.318 Net ¢ash flow from investing activitles {192.9911 12,100,992) Net increase l {decrease} In cash and cash equivalents {869,4481 12.221,7811 Cash and cash equivalents at 1 January 2023 3,905,017 6,126,798 Cash and cash equlvalents at 31 December 2023 3,035,569 3,905,017 Cash and cash equlvalents ¢onsisl of: Cash at bank and in hand 3,035,569 3,905,017 Cash and cash equlvalents at 31 December 2023 15A 3,035.569 3,905,017 18
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 Sumrnary of signifi¢ant accounting policies lal General infomiation and basis of preparation Foundation For Education To Improve Family Planning is a CIO incorporated in England. The address of the registered office is given In the charity infomialion on page 2 of these financial statements. The nature of the charity's operations and principal 8Ctivilies are lo support education of pre-adolescent youngsters in the field of family planning and health, with reference lo the societal and environmental onsequences of population growth and poverty. The financial stalernenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, and UK Generally Accepted Accounting Practice. The charity conslitules a public benefit entity as defined by FRS 102 Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial stslements are prepared on a going concern basis under the hislorical cost convention, modified lo include certain items al fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statement5 are sel out below. These policies have been consistently applied to all periods presented unless otherwise stsled. Ib} Funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of the general objectives of the eharity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of ea¢h designated fund is set out in the notes lo the financial statements. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or whieh have been raised by the charity for particular purposes. The cost of raising and administering such funds are Charged against the specific fund. The aim and use of each restricted fund is sel out in the notes to the financial statements {c} Income recognltlon All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity 1$ legally enlilled lo the income after any performance conditions have been met, the amount can be measured reliably and il is probable that the in¢ome will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached lo the donation and this requires a level of perfomiance before enlitlemenl can be obtained then Income is deferred until those conditions are fully mel or the fulfilment of those condib'ons is within the control of the charity and it is probable that they will be fulfilled. Dividends are recognised when they are declared. No amount is included in the financial statements for volunteer lime in line with the SORP. 19
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 {c} Income recognltlon {eontinued} Fixed asset gifts In kind are recognised when receivable and a included al fair value. They are not deferred over the life of the asset. Idl Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Expenditure Is recognised where there is 8 legal or conslruclive obligation lo make payments lo third parties. it Is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered. this is accrued as soon as the recipient is notified of the grant, as this gives rise lo a reasonable expectation that the recipient will receive the grant5. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. le) Support ¢osts allocatlon Support costs are those that assist the work of the charity bul do not directly represent charitsble activities and include office costs, governance Costs, adminislralive payroll costs. They are incurred directly in support of expenditure on the objectives of the charity and include project management arried out at Headquarters. Where support costs cannot be directly attributed lo particular headings they have been allocated lo cost of raising funds and expenditure on charitable activities on a basis consislenl with use of the resources. lfj Investments Fixed asset investments are initially recognised al their transaction value and subsequently measured al their fair value at the balance sheet dale if they are publi¢ly traded or their fair value can otherwise be measured reliably. Realised gains and losses on investments are calculated as the difference betsveen sales proceeds and their fair value at the start of the year, or their subsequent cost, and are charged or credited lo the SOFA In the year of disposal. Unrealised gains and losses represent the movement in fair values during the year and are credited or charged lo the SOFA based on the fair value al the year end. Igl Debtors and creditors re¢•ivable I payable wlthln one year Oeblors and eredilors with no stated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising from impaimenl are recognised in expenditure. (h) Impainnent Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balan sheet date. If such indication exists. the recoverable amount of the asset, or the asset's cash generating unil, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried al a revalued amount where the impairment loss is a revaluation decrease. 20
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 {5) Provisions Provisions are recognised when the charity has an obligation at the balance sheet dale as a result of a past event. it Is probable that an oufflow of economic benefi'ts will be required in settlement and the amount Can be reliably estimated. ti) Foreign currency Foreign currency transactions are initially recognised by applying lo the foreign currency amount the spot exchange rate beeen the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency al the balance sheet date are translated using the closing rate. Ikl Taxatlon The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests sel out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable incorporated organisalion for UK corporation tax purposes. Accordingly, the charity is exempt from tsxation In respect of income or capital gains to the extent that such Income or gains are applied exclusively to charitable purposes 111 Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist The Iruslee5 have considered the level of funds held and the expected level of income and expenditure for 12 months from aulhorising these financial statements. The budgeted income and expenditure is sufficient with the level of reseNes for the charity to be able lo continue as a going coneern. Income from donations and legacies Yle 31112123 Ple 31112122 Gifts and grants 385,000 385,000 Income from donations and legacies was £385,000 (Ple 31112122 - £01, all of which was attn'butable lo unrestricted fijnds. 21
Foundation For Education To Improve Family Plannlng Notes to the Financial Statements Year Ended 31 December 2023 Investment Income Yle 31112123 Ple 31112122 Dividend income Capital gains distribution Interest received 47,318 1,020,881 3,424 4.399 40,303 87,621 1,028,704 Analysis of expenditure on charitsblg activities Charitable activities- Yle 3111212023 Grant funding of activities Support costs- management fees Total Cocoa for Schools - Tanzania 452,919 452,919 Fundacion Tejedores de Suenos - Cosla Rica 21,636 45,871 67,507 School for Hope- Guatemala 60,000 60,000 Actec VZW Juanfe- Colombia 79,218 79,218 School Ajpopoli - Guatemala 50,465 50,465 664,238 45,871 710.109 Charitable activities- Ple 3111212022 Grant funding of activities Support costs- managernent fees Total Cocoa for Schools- Tanzania 49,327 49,327 Fundacion Tejedores de Suenos- Costa Rica 8,328 29.552 37.880 International Red Cross - Ukraine 50,000 50,000 Actec VZW Juanfe - Colombia 42,992 42,992 150,647 29,552 180,199 All of the above costs were attributable lo unrestricted funds. 22
Foundation For Education To Improve Family Planning Notes to the Financial Ststements Year Ended 31 December 2023 Governance c¢)sts Yle 31112123 Ple 31112122 Auditor's remuneration Trustees expenses Legal, professional and consultancy fees 24,000 1,752 133,312 24,000 1,962 33,340 159,064 59,302 Analysis of grants Grant anal sis- Yle 3111212023 Grants lo Inslilulions Total Cocoa for Schools- Tanzania 452,919 452,919 Fundacion Tejedores de Suenos - Cosla Rica 21,636 21,636 School for Hope- Guatemala 60,000 60,000 Actec VZW Juanfe- Colombia 79,218 79,218 School Ajpopoli - Guatemala 50,465 50,465 664.238 664,238 Grant anal sis- Ple 3111212022 Grants to inslilulions Total Cocoa for Schools- Tanzania 49,327 49,327 Fundacion Tejedores de Suenos - Costa Rica 8,328 8,328 International Red Cross - Ukraine 50,000 so,000 Aclec VZW Juanfe - Colombia 42,992 42,992 150,647 150,647 23
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 Net in¢ome I lexpendituro) for the year Nel income is Staled after charging I Icreditingl.. Yle 31112123 Ple 31112122 Ilncreasel I decrease in value of investment in Fund+ NVISA 3,726, 189 1705,5191 Nel Igainsl I losses on foreign exchange 73,987 1191,006) (Profit} I loss on fair value movement and sale of listed investments 1149,0921 2,321,285 Auditor's remuneration The auditor's remuneration amounts to a fee of £24,000 (Ple 31112122 - £24,0001 which includes other professional services. Trustees. and key management personnel remuneration and expenses The trustees neither received nor waived any remuneration during the year. No Iruslees are accruing pension arrangements. Board meeb'ng and travelling expenses of £1,752 (Ple 31112122 - £1,962} were incurred during the year. 10 Staff costs and employee beneflts There were no staff costs and employee benefits in the year. There were five trustees in the year who were all involved in the governance of the charity- 24
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 11 Fixod •sset investments Listed investments Other investments Total Cost or valuation Al 1 January 2023 Nel additions Revaluation 13,007,436 280,612 149,092 33,032,920 46,040,356 280,612 2,401,507 2.252.415 At 31 December 2023 13,437,140 35,285,335 48,722,475 Impairnent At 1 January 2023 Written back 1.473.774 11,473,774) 1,473,774 11,473,774) At 31 Oe¢ember 2023 Carrying amount.. Al 31 December 2023 13,437,140 35.285.335 48,722,475 Carrying amount.. At 31 December 2022 13,007,436 31,559,146 44,566,582 The listed investments represent investment holdings in funds and securities managed by ABN AMRO Bank NV in Belgium. The fair value of listed investments is determined by reference to the quoted price of the funds and securities in an active market al the balance sheet date. other investments represent the value of the charity's 29.7560/0 holding In the ordinary share capital of Fund+ NVISA Ils registered office address is 60 Grool Begijnhof, 3000 Leuven, Belgium. At 31 December 2023, the aggregate capital and reserves of the company amounted lo £103,160,877. 12 Creditors: amounts falling due within one year 3111212023 3111212022 Affruals and deferred income 25
Foundation For Education To Improve Family Planning Notes to the Flnancial Statements Year Ended 31 December 2023 13 Fund reconeiliation Unrestricted funds at 3111212023 Balance at 01101123 Income Expenditure Transfers Gains I (losses} Balance at 31112123 Unreslricled - 47,636,959 general 472.621 1275,6411 11,797,840) 3,801,294 49,837,393 Desi naled Fundacion Tejedores de Suenos Costa Rica 390,326 167,507} 16,4601 316,359 Aclec VZW Juanfe- Colombia 399,078 179,218} 17,7391 312,121 Cocoa for Schools - Tanzania 1452,9191 904.573 451,654 School for Hope- Guatemala 160,000} 492,079 432,079 School Ajpopoli Guatemala {50,4651 162,655 112,190 Plan Int. UK Sierra Leone 252,732 252,732 48.426,363 472,621 1985,7501 3,801,294 51,714,528 26
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 13 Fund reconcillatlon Icontinuedl Unreslri ted funds al 3111212022 Balance at 01104122 Income Expenditure Transfers Gains / (losses) Balance at 31112122 Unrestricted 48,692,903 general 1,028.704 1273,8451 1399,0781 11,411,725) 47,636,959 Desi nated Fundacion Tejedores de Suenos Costa Ric8 441,241 {37,8801 113,0351 390,326 Aclec VZW Juanfe - Colombia 399,078 399,078 49.134, 144 1,028,704 1311,7251 0 11,424,760) 48,426.363 14 Analysis of net assets between funds At 3111212023 Unrestricted funds Designated funds Total Fixed assets Cash Current liabilities 48,722,475 1, 158,434 143,516} 48,722,475 3.035,569 143,5161 1,877,135 Total 49,837,393 1.877,135 51,714,528 At 3111212022 Unrestricted funds Designated funds Total Fixed assets Cash CUrn1 liabilities 44,566,582 3,115,613 145,2361 44,566,582 3,905,017 145,2361 789,404 Totsl 47,636,959 789,404 48,426,363 27
Foundation For Education To Improve Family Planning Notes to the Financial Statements Year Ended 31 December 2023 15 Reconciliation of net Income I lexpenditurel to net cash flow from operating activities Yle 31112123 Ple 31112122 Net income I lexpenditurel for the year 3.288, 165 1707.781} Dividends received Capital gains distribution Interest 1Vable IGainsl I losses on investments Increase I Idecreasel in creditors 147,3181 11,020,881) 13,4241 14,3991 1,615,766 1701 140.3031 13,875.2811 11,7201 Nel cash flow from operating activib'es 1676,4571 1120,7891 15A Analysis of changes in cash and cash gquivalents 01101123 Cash flows Foreign exchange movements 31112123 Cash and cash equivalents 3,905,017 1795,4611 173,9871 3.035.569 16 Related party transactlons Consultancy fees of £120,000 were paid lo Sofia BVBA in accordance with a management services agreement entered into with the company. Chris Buyse, the chief executive officer of the charity. is director of Sofia BVBA. The charity has a 29.7560A shareholding in Fund+ NVISA and a dividend of £012022 £978,487> was received from Fund+ NVISA during the year. The shareholding in Fund+ NVISA was valued al £30,696.551 al 31 December 2023 Chris Buyse, the chief executive offi'cer of the charity, is a director of Fund+ NVISA. During the year under review, Désiré Collen, a trustee, made personal donations of £385,000 to the charity. 28
Foundation For Education To Improvo Family Planning Notes to the Flnancial Statements Year Ended 31 December 2023 17 Flnan¢ial instruments The carrying amounts of the charity's fi'nancial instrument$ are as follows.. 31112123 31112122 Financial assets Measured al fair value through income. Fixed a55els- listed investments Inole 111 - Cash at bank 13,437,140 3,035,569 13,007,436 3,905,017 16,472,709 16,912,453 Other assets measured at cost I valuation less impairment". Fixed assets - other investments Inole 111 30,696.551 31.559. 146 47,169,260 48.471,599 Financial liabilrties Measured at amortised cost Creditors Inole 121 43,516 45,236 43,516 45,236 The income. expenses, nel gains and nel losses attributable the charity's financial instruments are summarised as follows. Yle 31112123 Ple 31112122 Income and expense Financial assets measured al fair value through net income 3,801,294 1,424,760 18 Grant Commitments The trustees had committed to make grant payments to various projects 101811ing £1.877,135 al 31 December 2023 These have not been accrued and will be funded by future dividen¢J income and existing bank balances. 29