CodeBrave' FOUNDATION CodeBrave Foundation Annual Report and Financial Statements For the year ended 31 March 2021
CodeBrave' FOUNDATION Reference and Administrative Information Name CodeBrave Foundation Charltu number 1188692 Company number fj1798468 Reglstered Office 51 Luncombe Hill Bath BA2 4PQ Trustees Robert Milburn (Chair) Olivia Peacock (Treasurer) Elizabeth Edwards Sheetal Vyas Lehl Bilal Skaf-Halabu Independent Examlner Davld Goodridge
CodeBrave' FOUNDATION TRUSTEES, REPORT The Trustees present their report with the flnanclal statements of the charitu for the year ended 31 March 2021. The Trustees have adopted the provlslons of the Statement of Recommended Practice CSOFIP) appllcable to charities preparlng thelr annual report and tlnancial statements In accordance wlth Flnancial Reporting Standard applioable In the UK and Republic of Ireland (FRS 102). Objectives and Activities The charltu's objects as set out in its Artlcle8 of A880clatlon ar8: To adv8nce educatlon for the publlc beneflt In Lebanon and such other parts of the world 85 the trustees shall determlne by providing grants of )Inancl81 asslstanc8 and other technical support and 8sslst8nce to organlsations that 8re established to address educational needs and the lack of approprlate sclence, technology, engineerlng and mathematlcal educ8tlon among vulnerable chlldrén and young people. The charlty is partnered with Bukra La'ilkon. known as CodeBrave Lebanon, a reglstered Lebanese NGO. and together we work to create lastlng soclal Change In Lebanon through tech educatlon. During the year we provided £47,880 In grant8 to CodeBrave Lebanon to deliver digltal skllls, codlng and robotics courses to 195 chlldren and adolescents from dlsadvantaged background8. The Trustees conflrm they have complied wlth the dutu in Sectlon 4 of the Charltles Act 2011 to have due regard to the general guidance Issued by the Charity Comm188ion on the public benefit. Achievements and Performance Strategic Planning Globally. this financial gear has been challenging, but it has also demonstrated that access to technology and digital literacy are more in need than ever. In Lebanon it has been particularly dlfficult. On top of the Covld-19 pandemic, a massive economic recesslon and the port explosion in Beirut has led to a deepenlng crisis where an estimated 55% of the population is now living in poverty, ajump from 28% in 2019. Many people. if they have the means. are leaving the country in search of better opportunities. It is clear that Lebanon needs new solutions to address the needs. and goung people can use technology to pave the way forward. Tech offers
CodeBrave' FOUNDATION uoung people the opportunity to work remotely and participate in the global economy from Lebanon. Understanding how to utilise the most widely used softvvare platForms and use technology to solve problems will help younger people in Lebanon to take control of their situations. Agalnst this backdrop. CodeBrave Foundation focused on developlng a longer term 8trategl¢ plan to best advance our charitable object8. We refined our ml88ion: to support young people from dlsadvantaged backgrounds to change their lives through tech education. CodeBrave Foundation contlnued to do this through providing strategic advlce and grants to its partner CodeBrave Lebanon. Together. we developed our three year strategy that focuses on organisational development. fundraising strategies, and strengthening governance and grant management processes to ensure we fundraise effectively and responslbly and dlsperse grants that have a high Impact. Consultants from McKlnsey & Company volunteered thelr time and contributed their expertlse to develop CodeBrave's strategu. We set a target to reach 1,000 young people In Lebanon and to fundraise £365,000 over the next three years. Projects Durlng this year, our fundlng enabled: 196 chlldren and adolescents from dls8dvantag8d backgrounds In Lebanon to access tech educatlon. Overall. almost 50% of those supported wer& girl8. Tech Internshlps for two students, and one student went on to attend a more advanced coding bootcamp wlth SE Factory. 4 training sesslon8 on both chlld psychology and teaching methodology for CodeBrave Lebanon's management team and toachlng staff 24 partner staff tralned on ¢hlld psychology 2 training 8e88ions for 60 McKlnsey consultants on chlld psychology and onllne engagement to prepare them for our pilot mentorshlp programme. 6 hours of professlonal mentorship each for 20 students by Mckinsey consultant8. Th18 year we are dellghted to have funded projects dellvered by CodeBrave Lebanon. In partnershlp with: Home of Hope In Kahaleh Vve contlnued to fund CodeBrave Lebanon's project at Home of Hope untll September 2020 where 20 students aged between 8-18 received three hours of coding and robotics classes a week. Before this project came to a close, we had funded two of the older students through tech internshlps, helping them to build their professional experlence and personal skills. One of them went on to complete a more advanced bootcamp at SE Factory.
CodeBrave" FOUNDATION Garltas Lebanon in Sasslne and Furn El Chebbak. Beirut new project was started In partnership with Caritas Lebanon. 25 students aged 14-15 joined a six month course in Javascript and Game Development. By the end of the course, students practiced coding syntax. and learned the foundations of microcontrollers and sensors. and designed their own games. During this period. due to lockdown measure8 In Lebanon. we pivoted from in-per8on to online learning. Immaculate Conception School In Geltawl. Belrut At the Geltawl Centre, 19 students aged 12-13 began learnlng codlng and robotics in January 2021. Through our Foundatlonal STEM curriculum. th81J arè working towards buildlng their own websltes In HTMLICSSlJavaScript. maklng custom robotlc$ equlpment along the way like game controllers and sensors on micro.bit and Arduino mlcrocontrollers. Makaased Associatlon In Marl and Tarlq al-Jadidej At the Marl and Tarlq al-Jadldeh centres. 131 students aged 11-12 yr6 began learnlng codlng and robotlc8 In February 2021. They have started wlth the Foundational STEM currlculum, but we are hoping to secure fundlng to 8cale thls project to 200 student8 In the next flnanclal year. Fundraising CodeBrave Foundation's fundraislng target at the beglnnlng of th18 flnancial gear was £30,000. Our fir8t Crowdfundlng campalgn whlch we launched In February with a target of £20.000. came to a close on 10th Aprll 2020 wlth a total of £22.408 funds raised. To 8UPPOrt the campalgn. we had planned to host a London based fundraising event In March, with an estimated Income of £10,000. However. due to the outbr8ak ot Covld-fj9. we postponed the event hoping to have it later in the uear. Unfortunately. due to the contlnulng pandemic we have not yet been able to host thls event. However, during the campalgn we 8ecured our first major glft of £76.607 ($100,000) from a prlvate US supporter. INe were also awarded our ffrst grant, a total of £15.000 of unrestrlct6d fundlng from The Fore. It has helped us become Increasinglu professionali8ed allowlng CodeBrave Foundation to retain the Executive Director by providing a small salary for the first time. Only £7,500 was received withln this tinancial uear. wlth the second half received in May 2021. We have received a further two grants from US based foundations, Prince Street Foundation and YouthReach International. Thelr respective donations of £10.550 ($15.000) and £8,790 ($13.500) will a180 be received in the next financlal year. vla our partner Chapel & York Foundation. We began implementing our new fundraislng strategy during this financial year. targeting individual donors. Including major donors and regular donors. public campaigns; statutory grants" trusts and foundations; and corporate partners. This
Code8rave' FOUNDATION ear we raised a total of £fj29.450 - 60% from major donors. 24°A from trusts toundatlons. 5% from campaigns. 4% from corporate donors, and the balance from gift aid and small private donations. Financial Review In this flnancial year. CodeBrave Foundation generated Income of £133.449 and Incurred expenditure of £68.142. Of the total funds raised. £12.131 was restricted. Funds spent on charitable actlvltles totalled £47,880 and was equivalent to 70% of total expendlture. As at 31st March 2021, the charlty had total funds of £81.443. Reserves Policy CodeBrave Foundatlon ended the year wlth total funds of £81,443. which mean8 that the charlty had sufflcient reserves to cover Its typlcal adminlstrative costs In the short term. Plans for Future Periods In the next ftnanclal year. CodeBrave Foundation will contlnue to Implement and adjust our longer term strateglc plan. The main focus wlll be to develop sustainable Income streams: flrstly, through individual giving vla onlin8 campalgns, regular glving and events; secondlu through corporate fundralslng- and thlrdly, through grant8 from trusts and foundatlon8. To that effect. the Board has re¢rulted an additional trustee to provide additlonal fundra18ing support to the Exocutive Director. The Board has also established a Fundralslng Commlttee to consist of several Trustees and other indivlduals who want to 8UPPOrt CodeBrave Foundatlon In increasing our network. running campalgns. hosting events and raising our public profile. We will continue to raise funds for CodeBrave Lebanon to consolidate, deliver and develop thelr tech education programme to reach 1.000 youth over the next three years. We wlll review the impact of this project on an ongoing basls to ensure that the money we ralse make8 a positive Impact for the students. We wlll keep donor8 updated so that they are confldent their contributions are belng used trarssparently and effectlvely. Structure, Governance and Management CodeBrave Foundation was established as a limited company on 30 January 2019 as company number q179846, the company has no share capital and is limited by guarantee. It was registered with the Charity Commlssion as charity number 1188692 on 20 March 2020. It is governed by its Memorandum and Articles of Association.
CodeBrave" FOUNDATION The Board of Trustee8 are the only voting members of the charitu. while day-to-day administration and management is performed bu the Executive Director with active participation bu the Board of Trustees. The Trustee8 who served during the reporting perlod were: Robert Milburn Sheetal Vyas Lehl Ya8mina Brlhl Ellzabeth Edward8 Ollvia Peacock Towards the end of the year. the Board undertook a trustee recruitment process. Following inteNI8w8 Wlth a small number of candidates, Bilal Skaf-Halaby was appointed as a trustee on 8 April 2021. Furthermore, Yasmina Brihl resigned as a trustee on 7 Septemb8r 2021. Tru8tees are recrulted from wlthin the organisat5on's networks and externally. Every trustee was appolnted for a term of three years and may serve for a maximum of three consecutlve terms. but thereafter a trustee shall not be ellgible for re-appolntment untll one year after his or her retlrement. All new tru8t8es are properly Inducted, provlded wlth a copy of the current version of the charity's Articles of Assoclation. pollcle8 and the latest Annual Report and Flnanclal Statements. Statement of Board of Trustees. Responsibilities The Trustees are responsible for preparing the Trustees. Annual Roport and the ftnanclal statements in accordance wlth applicable la¥v and regulatlons. Charity law requires the Trustees to prepare flnancial statements for each flnanclal ear. Under that law they are required to prepare the flnancSal statements in accordance with UK Accounting Standards and appllcable law (UK Generally Accepted Accounting Practice). including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Under charity law the Trustees must not approve the flnancial statements unless they are satisfied that they glve a true and fair view of the state of affairs of the charity and of the excess expenditure over Income for that perlod.. In preparing these financial 8tatement8. th8 Trustees are required to: select suitable accountlng policies and then apply them consistently; observe the methods and principles in the Charitie8 SORP:
CodeBrave' FOUNDATION make judgements and estimates that are reasonable and prudent. state v¥hether applicable UK Accounting Standards have been followed. subject to anu material departuras dlsclosed and explained in the financial statements" and. prepare the flnanclal statements on the golng concern bas18 unles8 It Is Inappropriate to presume that the charity will continue its activities. The Trustees are responsible for keeping adequate accountlng records that are sufflclent to show and explain the charity's transactions and disclose with reasonable accuracy at any time the flnancial position of the charitu and enable them to ensure that the flnanclal statements comply with the relevant legislation. They have general retsponslblllty for taklng Such steps as are r&asonably open to them to safeguard the a88ets of the charitu and to prevent and detect fraud and other irregularltles. The Tru8tee8 are re8ponsible for the maintenance and integrity of the corporate and flnanclal information Included on the Charity's website. Legislation In the Unlted Klngdom governlng the preparatlon and dl88emlnation of ftnanclal statements mau d5ffer f rom leg181atlon In other Jurlsdlctlon8. Th8 Trust8es' report was approved bu the Board of Trustees and slgned on Its behalf by: Robert Mllburn. Chalr of Trustees Date...l.../...
CodeBrave' FOUNDATION Independent Examiner's Report to the Trustees I report to the trustees on my examination of the financial statements of CodeBrav8 Foundation Cthe charity) for the year ended 31 March 2021 which comprise the Statement of Financial Activities. the Balance Sheet and related notes. Respon81bllltles and ba818 of r•port As the charlty's trustees. ¥vho are al$0 the directors of the compang for the purp08è8 Ot companu law. you are responsible for the preparatlon of the flnanclal statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.). Havlng satlsfied myself that the accounts of the company ar8 not required to be audlted for thls year under Part 16 of the 2006 Act and are eligible for Independent Examlnatlon I report In respect of my examlnation of the charlty's financlal statement8 carrled out under section 145 of the Charltle8 Act 2011 (the 2011 Act). In carrylng out my examlnatlon I have followed all the appllcable Directions given by the Charlty Commission under sectlon 145C5)(b) of the 2011 Act. An Independent examinatlon does not involve gathering all the evidence that would be requlred In an audlt and consequently does not cover all the matters that an audltor conslders in glvlng their opinion on the flnanclal statements. The planning and conduct of an audlt goes beyond the Ilmlted assurance that an independent examlnatlon can provlde. Consequently, l express no oplnlon as to whether the fSnanclal statements present a 'true and falr. vlew and my report 18 limlted to those 8peclfl¢ matter8 8et out In the Independent examiner's Statement. Indep•ndent examIne8 Statoment I have completed my examination. I confirm that no material matter8 have come to my attention In connectlon wlth the examlnation glving me cause to believe that In any material respect: a¢countlng records were not kept in accordance with section 386 of the 2006 Act: or the financlal statements do not accord wlth those records: or the financial statements do not comply with the applicable requirements under section 386 of the 2006 Act other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part ot an Independent examination. the financial statements have not been prepared in accordanc8 Wlth the Charities SORP (FRS 102)
CodeBrave" FOUNDATION I have no concerns and have come across no other matters in connection with the examlnation to whlch attention should be drawn in this report in order to enable a proper understandlng of the financial statements to be reached. Davld J Goodrldge FCA DChA Mallards Barn Millfreld Lane Lufj 4AR Date:
CodeBrave" FOUNDATION Statement of Financial Activities For the year ended 31 March 2021 Y•ar ¢nd•d P•rlod •nd•d 3WJR021 3110312020 RMtrl¢t•d Ineom• tund• Totsj lund• Unr•8trf¢t•d Total fun InGom• from: Donatlon8 121.318 12.131 133,449 25,341 Total In¢om• 121,318 133.449 25,34f Exp•ndlture on: Balslng f unds Charltabla actlvltles (12228) C47,880) (8.034) (68,142) (12,228) [47,880) (8,034) (68.142) (4205) 93) ,212) Governance costs Total •xp•ndltur• N•t Incom• b•tor• tax for th• reportlng perfod Tax payable N•t Incorn• 85,307 f8,lJ6 6&J07 A•conclll•tlon of funds.. Total tunds brought forward rotal funds carrf•d fi>rn•rd 18.138 18,138
CodeBrave" FOUNDATION Balance Sheet As at 31 March 2021 Curront au•ts Cash at bank and In hand 55.527 2,665 Debtor8 26.442 16,e70 Total current assets 19,335 Crodltor8: amounts falllnq du• bylthln on• y•ar C526) [3.199) N•t eurmnt aBS•t8 16,136 Totaln•t ass•ti 16.138 Fundi of the Ch8rltu Unrestricted funds 09,512 16,136 Restrlcted Income fund8 12,131 Tot•1 fund* fj6,138 The company was entitled to exemptlon from audlt under s477of the Companies Act 2006 relatlng to sm811 comp8nAes. The members have not requlred the company to obtaln an audlt In a¢cordance wlth saction 476 ot tho Comp8nie$ Act2006. The directors acknowledge their responslbilit18s for complylng with the requirements of the Companies Act wlth respect to accounting records and the preparation of accounts. These accounts have been prep8red in accordance wlth the provlslons appllcable to small companles subject to the small comp8nle$ reglme and in 8ccordanGe with FRS102 SORP. ed on behalf of the board of trustees on Date ...l...l... Robert Milburn. Chair of Trustee$ si nature of director authenticating accounts belng sent to Companies House Robert MllbuTn. Chair of Trustees
CodeBrave' FOUNDATION Notes to the Financial Statements 1. Basis of Preparation 1.1 Ba818 of accounting These accounts have been prepared under the historlcal cost conventlon with item5 recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The ac¢ounts have been prepared in accordance with: the Statement of Recommended Practice: Accountlnq and Fleporting b Charltles preparlng their accounts in accordance with the Financial Reporting Standard appllc8ble in the UK and Flepublic of Ireland (FRS 102) Issued on 18 July 2014 and with the Charltles Act 2006 The charlty constitutes a publlc beneflt entity a8 defined by FRS 102. 1.2 Going concern The accounts have been prepared on a golng concern basi8 and. in thé oplnlon of the trustees, there are no materlal uncertalntle8 that would cast signlficant doubt on the charlty's ability to continue as a golnq concern. 1.2.1 Impact of Covld-19 Due to the Covid-19 pandemlc and the resultlng school closures. we 8upported CodeBrave Lebanon's plvot to remote dellvery of our tech education programme. We anticlpate that schools wlll likely be at least Intermittentlu closed in the followlng flnanclal year. therefore we will contlnue to provld8 resources to allow CodeBrave Lebanon to facilitate remote access to our programme from home. We were also unable to hold fundraising events due to covld, whilst we hope thls can change In the next Ilnanclal year. we have developed a diverse fundralsing strategy to mltigat8 this risk. 1.3 Income from donations Donation Income is recognised when recelved unle$8 evldence of entitlement has been made by a donor to make future donations. in which case income Is recognlsed when that pledge Is made. Donations made through a crowdtundlng campalgn are recognised when the donatlon 1$ recorded on the crowdfunding website, net of the fee charged by the crowdfunder platform. The amount due from the platform Is recorded as accrued income until the moneu is received into the charitu's bank account. f.4 Pensions The charity operates a defined contribution Pension Plan. Contributlons are charged In the year In which they are payable.
CodeBrave' FOUNDATION 1.5 Irrecoverable VA T Expendlture Is shown In the accounts Inclu81ve of the associated VAT. 1.6 Financial instruments The charity only had the financial assets and financial liabilities of a kind that quallfld as baslc flnanclal Instruments. Baslc finan¢lal Instruments are initially recognlsed at transactlon value and subsequently measured at thelr settlement valuè. 1.7Donated Servlces Donated services and facllities are Included at the value to the charlty where thls can be quantifled. Donated servlces are Included In the statement of flnanclal actlvltles, recognlsed as Income and expendlture.
CodeBrave" FOUNDATION 2. Income P•rlod ended 31rn3r2oa Jy03fd020 Y•ar •Nl•d B••tAet•d Incom• fvndo Uftr••trlGtsd fvnds Tot fund• Prlor y•4r Analy818 of income Donatlon8: Donatlons and gifts 112,566 1.&35 113,890 25.341 Gift Ald 4,783 4.763 General grant8 provlded by governmentlother charities Donated goods. facillties and servlces 10,796 10.796 4.000 4.000 TOTAL INCOME 121,318 12.131 1S3.449 25,341 Oth•r Informatlon: All income in the prlor year was unr8Strlcted A major glft was received during the year from 8 US prlvate donor for tho amount of £74,607.
CodeBrave' FOUNDnT/ON 3. Total Resources Expended P•rlod Y•w •nd•d J1103P021 3V0312020 B••l•of Clwltsbl• R•t•kng alloc•tknn Aethrftl•8 Fund Total Co8t8 dlrectly allocated to a¢tlvltl•s Grants to Codebrave Lebanon 44.724 4.051 Fundraising costs 497 497 993 8upport cost8 allo¢)at•d to a¢tlvlt1•8 StafP ¢08t$ 2.180 6.816 14,537 General admln18tratlve ¢ost8 staff tirm 547 4,167 Bank charges Donated 8ervlces 3.837 2.000 2,OCQ 4,000 Total r••ourc•4 •xp•nd•d 47.880 12,228 8,034 88.142 9,205 4. Details of certain types of expenditure F••8 for •xamlnatlon of account• • The cost for independent examlnatlon of the accounts for tha year ended 31 March 202118 £Nil (2020: £Nil).
CodeBrave" FOUNDATION 5. Staff numbers and costs Y••r •nd•d 31m312021 P•rlod •n¢l•d 3V03r4020 Salarles and wages Soclal securlty costs Pension cost8 Cdeflned contrlbutlon scheme) Total staff costs 12.040 870 14.537 The average weekly number of 8mployee8 calculated as full-tlme equlvalent8, during the year was 1 (2020: 1). The average headcount during the year was 1 person C2020: 1 person). No employee received employee beneftts of more than £60.000 (2020: NII). The total remuneration paid to key management personnel durlng the year was £12.040 (2020: Nil). 6. Debtors 31P312020 Prepayments and accrued Income 18,870 • All debtors are recoverable withln one year.
CodeBrave" FOUNDATION 7. Creditors and accruals Amounti Wllng du• th•r more thaTh on• yr Amwnts 1[9 du• ¥thhln war 3V0312020 Trade and other credltor8 526 1,596 Accruals and deferred Income 1.803 Total 526 3.199 8. Cash at bank and in hand JVOJR020 Cash at bank and on hand 55,527 2.665 9. Movement in funds At IAprll 2020 In¢om• Exp•ndltur• At 31 Marnh 2021 Restrlcted fund8 Grant8 for Codebrave Lebanon 12,131 12.131 Total r8Strlcted funds 12.131 12,131 Unrestricted funds 18.136 [68,142) 89,312 Total Funds as p•r balan sheet 16,136 103,450 (88. 10. Limited by guarantee The company is limited bu guarantee of members and does not have a share capital. As stated in our articles, the liability of the members is limited to a sum not exceeding £10. being the amount that each member undertakes to contribute to the
CodeBrave' FOUNDAT/ON assets of the charity in the event of Its being wound up while he. she or it is a member or within one year after he. she or it ceases to be a member. for: 1. payment of the charity'8 debts and liabilities incurred before he. she or it ceases to be a member: 2. payment of the costs. charges and expenses of winding up: and adju8tment of the rights of the contrlbutories among themselve8. 11. Trustee remuneration Durlng the year. no Trustee received any remuneratlon C2020: £NiO. No members of the Board of Trustees received reimbur8ement of travel and subslstence expenses during th8 year C2020: £NII). 12. Related party transactions Durlng the year, there were no related party tranÉactlon8 C2020: £NII).