The AI Education Foundation
Registered Charity, No: 1189058
Trustees’ Annual Report & Statement of Financial Activity
for the Year Ended 31 December 2020
Trustees
Francesco Visin Francesco Romano Matteo Hessel
The AI Education Foundation: Trustees’ Annual Report & Financial Statements
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Table of content
| Reference and Administration Details | 3 |
|---|---|
| Charity Name & Registration | 3 |
| Charity’s Address | 3 |
| Names of the Trustees Who Manage the Charity | 3 |
| Names of Advisors & Senior Members of Staff | 3 |
| Bank | 3 |
| Structure, Governance & Management | 4 |
| Type of Governing Document | 4 |
| Charitable Objects | 4 |
| Trustee Selection Methods | 4 |
| Activities | 4 |
| Statutory Declaration | 4 |
| Achievements & Performance | 4 |
| Outputs and Outcomes for the Charity’s Beneficiaries | 4 |
| How the Public Have Benefitted. | 4 |
| Financial Review | 4 |
| Details of Any Funds Materially in Deficit | 4 |
| Policy on Reserves | 5 |
| Principal Sources of Funding and Outgoings | 5 |
| Remuneration of Trustees | 5 |
| Financial Status | 5 |
| Statutory Statements on Liabilities | 5 |
| Approval by the board of trustees | 5 |
| Statement of Financial Activity | 6 |
| Receipts & Payments Accounts for the Financial Year Ended 31-Dec-20 | 6 |
| Receipts & Payments | 6 |
| Summary of Receipts & Payments Accounts | 6 |
| Statement of Assets and Liabilities | 6 |
| Approval of the Board of Trustees | 6 |
The AI Education Foundation: Trustees’ Annual Report & Financial Statements
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Trustees Annual Report for the Year Ended 31 December 2020
1 Reference and Administration Details
1.1 Charity Name & Registration
The charity is a Charitable Incorporated Organisation, registration no: 1189058, registered with the Charity Commission on 15 April 2020.
1.2 Charity’s Address
Current Address:
● FLAT 1ST FLOOR, 4 Leighton Crescent, LONDON, NW5 2QY, England, United Kingdom Note: During the financial period for the year ended 31 December 2020 the address was: ● 7 CASTLETOWN ROAD, LONDON, W14 9HE, England, United Kingdom e-mail: ai.education.foundation@gmail.com
website: https://sites.google.com/corp/view/aieducationfoundation
1.3 Names of the Trustees Who Manage the Charity
| Role | Appointed | Resigned | |
|---|---|---|---|
| Martina Zambelli | Trustee | 15 April 2020 | 20 May 2021 |
| Francesco Romano | Trustee | 15 April 2020 | -- |
| Francesco Visin | Trustee | 15 April 2020 | -- |
| Matteo Hessel | Trustee | 15 April 2020 | -- |
1.4 Names of Advisors & Senior Members of Staff
The charity does not employ any staff.
1.5 Bank accounts
We did not need a bank account during the financial period ending 31 December 2020, as our activities were postponed to 2021 due to Covid.
2 Structure, Governance & Management
2.1 Type of Governing Document
We are a Charitable Incorporated Organisations, where the Trustees are the only Members of the charity. Our constitution follows the charity commission’s Foundation model.
2.2 Charitable Objects
As defined in MyCharity’s Constitution (Governing Document), the charity’s objects are:
TO PROMOTE AND ADVANCE EDUCATION ON THE TOPICS OF MACHINE LEARNING AND ARTIFICIAL INTELLIGENCE IN SUCH WAYS AS THE CHARITY TRUSTEES THINK FIT, INCLUDING BY ORGANISING AND SUPPORTING FORMATIVE ACTIVITIES AND NETWORKING EVENTS IN THE UK AND WORLDWIDE.
2.3 Trustee Selection Methods
There must be at least three charity trustees.
The AI Education Foundation: Trustees’ Annual Report & Financial Statements
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In accordance with the Constitution, Trustees are appointed or re-appointed by a resolution passed at a properly convened meeting of the charity trustees.
In appointing Trustees consideration is given to ensuring that the Trustees have, between them, the skills and experience necessary to manage the charity effectively and in accordance with charity law.
3 Activities
3.1 Statutory Declaration
The Trustees of The AI Education Foundation confirm they have paid due regard to the guidance by the Charity Commission on public benefit in deciding what activities the charity should undertake.
4 Achievements & Performance
4.1 Outputs and Outcomes for the Charity’s Beneficiaries
Due to Covid-19, the organization of our first machine learning school was postponed to 2021, to ensure the safety of speakers and students.
4.2 How the Public Have Benefitted.
Due to Covid-19, the organization of our first machine learning school was postponed to 2021, to ensure the safety of speakers and students.
5 Financial Review
5.1 Details of Any Funds Materially in Deficit
The Charity has no funds which are materially in deficit.
5.2 Policy on Reserves
Due to Covid, our first financial year’s turnover/income/expenses/reserves were all zero, as all our activities were postponed to 2021.
5.3 Principal Sources of Funding and Outgoings
Due to Covid, our first financial year’s turnover/income/expenses/reserves were all zero, as all our activities were postponed to 2021.
5.4 Remuneration of Trustees
All Trustees act in a voluntary capacity.
No trustee receives any payments for the services they provide to the charity.
Out-of-pocket expenses incurred necessarily, reasonably and incidentally in the course the charity’s activities can be reimbursed at cost. However, no Trustees received any reimbursement of out-of-pocket expenses in the current financial year as all activities were postponed to 2021 due to Covid.
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5.5 Financial Status
Due to Covid, our first financial year’s turnover/income/expenses/reserves were all zero, as all our activities were postponed to 2021.
5.6 Statutory Statements on Liabilities
The Trustees declare that:
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✔ The charity has given no guarantees where potential liability under the guarantee is outstanding at the date of this statement ( eg: any outstanding/ongoing contract or legal undertaking to buy or provide specific services);
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✔ The charity has no debt outstanding at the date of this statement which is owed by the CIO and which is secured by an express charge on any assets of the CIO ( eg: a mortgage on property owned by the charity);
5.7 Approval by the board of trustees
The Trustees declare that they have approved the Annual Report.
Date: 29/06/2021
Name: Signatures:
Francesco Visin Francesco Romano Matteo Hessel
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Statement of Financial Activity for the Year Ended 31 December 2020
6 Statement of Financial Activity
6.1 Summary of Receipts & Payments Accounts
The charity used “Receipts and Payments” accounting
As discussed in the Trustees’ report,
due to the covid pandemic, the charity’s activities were postponed to 2021. As a result of this:
-
The charity had no receipts and no payments in the financial period ending 31-Dec-2020
-
The charity did not sell assets and/or investments.
-
The charity did not purchase assets and/or investments.
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The charity holds no assets or liabilities.
In the next sections, we report the accounts according to template CC16 downloaded from https://www.gov.uk/government/publications/charity-accounting-templates-receipts-and-payment s-accounts.
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6.1.1 Receipts & Payments Section A Recei ts and ments Unr•strTrct•d fvnd R•strict•d fvnd Endowm•nt Total fund8 Last y•ar A1 R•e•l Sub total(Gmss in¢¢)rn fo AR) A2 A•••1 •nd 1rrn•r l•J Subts Sub tot• A•••1 and IrM•n rch•M¥ Sub tot•1 Nèt Ofrncdpp•yfft0ftts) A5 Tr•n¥f•r4 b•tw••n fundJ A6 Cash funds *t y•ar •nd Cash lunds thls The Al Educutlon Foundution.. Tn15tee5'Annut31 Report & Finunciul Stt3tementS Puge 7of 9
6.1.2 Statement of Assets and Liabilities
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6.2 Approval of the Board of Trustees
The Trustees declare that they have approved the Statement of Financial Activity.
Date: 29/06/2021
Name: Signatures:
Francesco Visin Francesco Romano Matteo Hessel
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