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 examIne￿8 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• y￿r
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).