ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023
IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1190134
Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal & Administrative Information |
|---|---|
| Pages 4 to 6 | Trustees' Report |
| Page 7 | Statement of Financial Activities |
| Page 8 | Balance Sheet |
| Pages 9 to 14 | Notes to the Financial Statements |
| Page 15 | Independent Examiner's Report |
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1190134 DATE OF REGISTRATION 26th June 2020 START OF FINANCIAL YEAR 1st June 2022 END OF FINANCIAL YEAR 31st May 2023 TRUSTEES AT 31ST MAY 2023 Marianne Jamme Nathan Kirton Courtney Stipe Holm Mariah Levin (Appointed 23rd February 2023) Kelly Buchanan (Resigned 30th June 2022) LEGAL STATUS Charitable Incorporated Organisation
GOVERNING INSTRUMENT CIO - Foundation Registered 26th June 2020
OBJECTS
For the public benefit: 1 . To promote and advance education, in particular, but not exclusively, among young women and girls in STEAMD subjects (Science, Technology, Engineering, Arts, Mathematics and Design) to be undertaken across Africa, The Middle East, Europe, Latin America and Asia. 2 . To promote gender equality and diversity in STEAMD industries in particular by, a ) Improving education and skills among women and young girls and to provide them with opportunities for employment in the STEAMD industries. b ) Providing advice and support to the public and private sector bodies on policy and how to engage young women and girls in STEAMD industries. c ) Raising awareness of and cultivating a sentiment in favour of equality of women and diversity.
CORRESPONDENCE ADDRESS
CORRESPONDENCE ADDRESS 147 Yew Tree Drive Bellfield's Guildford Surrey GU1 1NZ PRIMARY BANKERS Santander UK Plc 2 Triton Square Regent's Place London NW1 3AN INDEPENDENT EXAMINERS Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST MAY 2023
Summary of the Purposes of the Charity
IAMTHECODE is an African led global movement designed to mobilise government, private sector, and investors to advance to invest in STEAMD (science, technology, engineering, arts, mathematics, entrepreneurship, arts, and design) Education. Our mission is to build a generation of 1 million women and girls coders by 2030. Through technology and digital literacy training, IAMTHECODE is tackling the current global STEAMD skills shortage in marginalised communities.
Summary of the Main Activities
• Mentorship is a cornerstone to the iamtheCODE program providing girls access to real role models with experiences to help them grow their ideas and knowledge of the world. More than 500 mentors are involved in IAMTHECODE’s work.
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IAMTHECODE has trained and exposed over 50,000 young women in 80 countries to STEAMD education, including through over 800 events and virtual meetings. The main formats of these educational opportunities are described below.
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SDGs Hackathons are a code-a-thon where developers, designers, hackers, students, entrepreneurs and educators gather to collaborate on projects including applications, software, hardware, data visualization and platform solutions.
• The IAMTHECODE learning platform offers thousands of students with free learning content related to STEAMD and the SDGs. Young people, many with limited educational and professional opportunities, can work towards certifications for their professional and personal development.
• Digital club is a physical safe space and an environment where a variety of technologies and innovations are used to enable the next generation of digital leaders to learn about STEAMD subjects and be prepared for 21st Century learning.
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Wellbeing Clubs are a peer to peer community support group run in the refugee camp, slums, and favelas aimed at improving the lives of vulnerable populations, especially young girls.
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iamtheFOOD addresses gaps in access to healthy food and nutritional education, particularly amongst young women in marginalized communities.
Achievements and Performance
Summary of the Main Achievements
• More than 50,000 young girls have been trained and exposed to STEM education through online courses and mentorship programs with over 500 volunteers within global organizations as well as local communities. Programs are in 80 countries across Africa, Brazil, Afghanistan and the UK included:
• Digital Clubs ran in the UK and South Africa supported girls to learn how to code, understand how they are connected to the sustainable development goals, and how they can use technology to make meaningful change in their lives and their community.
• 12 week mentorship programs in partnerships with Salesforce and Mastercard built transformational relationships sharing skills, values and knowledge. Topics included Digital Skills, How to write a CV, Interview Preparation, Marketing Strategies, Making a Personal Plan, Storytelling.
• Wellbeing Clubs offering peer to peer community support, this support was most critical during the pandemic allowing girls to have a safe place to share stories.
• Conducted detailed lessons on the nutrition, health eating, environmental security, SDGs and how they relate to the girls daily life. From this, the girls started the Carolina Recreation Park at Our Lady’s School in relation to Goal 13 - Climate Change. Over 70 tree seedlings have been planted.
• Continued exposure to new ideas from renowned leaders through a podcast featuring entrepreneurs, storytellers, educators, artists, writers, digital leaders and philanthropists to motivate the next generation of young people through their unique journeys. Also telling the stories of community leaders, young girls living in Kakuma Refugee Camp and other girls exposed to iamtheCODE who have demonstrated authenticity, courage, resilience and integrity in their leadership and day to day life.
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST MAY 2023
The Charity’s Principal Sources of Funds
Much of the funding for IAMTHECODE is non-ringfenced (e.g. individual donations), however funding from the MasterCard Foundation, UN Women, UNHCR, and the UBS Foundation funding remains ring-fenced as per updated scope/agreement. Philanthropic funds from these organizations are earmarked for specific programmatic elements, as well as institution-building investments, such as governance, accounting, insurance, etc, and tracked accordingly.
A Description of the Principal risks Facing the Charity
• Key person risk: Largest risk to organisation is degree of activity CEO plays a myriad of strategic, fundraising and operational roles, a very broad spectrum of activities. Funding has been allocated to recruit key talent, such as a COO/Project Director resource and thus far the search has resulted in short-term solutions only.
Structure, Governance and Management
Trustee Selection Methods
Trustees: Lady Marieme Jamme, Nathan Kirton, Courtney Elizabeth Stipe Holm, Mariah Gabrielle Levin (Joined 23rd February 2023).
Selection of new Trustee is brought to the board for review and approval. If approved, the needed qualifying checks are then performed prior to formal induction.
1) Developing
a. Developing appropriate policies & frameworks for governance for IAMTHECODE, including AML/ABC (financial), stewardship, digital/cybersecurity, assess level of insurance cover, risks in place.
2) Review
a. Annual risk review in place with Board & Management Team to develop risk framework & priorities for IAMTHECODE;
- b. Risk management strategies and actions review process;
c. Review quarterly & annual accounts for filing with HMRC;
d. Review MI/Published KPI data for funding proposals and to ensure transparency of funding information for key donors & grant giving bodies.
Policies and Procedures Adopted for the Induction and Training of Trustees
· Due diligence is done on counterparties IAMTHECODE works with – in general these are large multinational organisations with global reputations.
· IAMTHECODE Board/volunteers, each have to provide proof of ID – and also complete a DBS check and equivalent.
· A Code of Conduct for partners of IAMTHECODE is in place to promote and encourage the absolute integrity of all partners. The Code of Conduct applies to all IAMTHECODE Partners and their employees, temporary workers, agents, subcontractors, and similar individuals or entities. IAMTHECODE Partners refer to any party that provides products/content or services in conjunction with the iamtheCODE programme.
The Charity’s Organisational Structure
Trustees: Trustees: Lady Marianne Jamme, Nathan Kirton, Mariah Levin – formal board meetings are 3-4 times per year, with regular informal board meetings.
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IAkTfHECODE FOUNDATION IChanlab (hgantsath)nl TRUSTEES. REPORT ICorbtlrAwI) FOR THE YEAR ENDED 31ST IAAY 2023 2. HR &Lega. Rdation•hlpfith any P•rti Tru•tw•' Rwomlbillli NHh•J ki Qfa èjo J l)p*b .
IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MAY 2023
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Other Incoming Resources 3b TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 322,514 48,300 370,814 205,505 11,500 - 11,500 - 334,014 48,300 382,314 205,505 81,689 86,790 168,479 109,116 4,160 3,300 7,460 5,692 85,849 90,090 175,939 114,808 248,165 (41,789) 206,376 90,697 136,287 140,185 276,472 185,775 384,452 98,396 482,848 276,472 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 14 form part of these financial statements.
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IAMfHECODE FOUNDATION BALANCE SHEET AS AT 31ST MAY 2023 Totrl Total 31-Mw23 31.May.22 Fixed Tangiile A$8ets Inve8tmonts Total Flx•d A888ts DÈbtors & Prepayinents Cash at Bank arnJ in Hand Total Currwrt A880ts 402,592 403.122 5C(1,987 501,518 296,172 296,172 98396 Cr¢ditor8:Am¢untsfalknig due wrt"Th wyear 2.420 2.420 3.450 NET¢URRE1 ASSErs 4ty).702 499.098 292,722 TOTALASSEfs kss £Vrent 4(Kl,71n 98J96 499,098 292.722 Creditors: AJnwnts fal9 due in fTKYO th one year 16250 NET ASSErs 98.396 482.848 276.4n Funds01th• Ch*TIty Gene Funds A52 136287 140,185 270.472 Totsl Fund% 98,396 482,848 /5 202t &gnedlhtthrbyTr81ae.......... ..... inted iéIA6A)
IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Straight Line Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st May 2023: None
31st May 2022: None
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations Grants Received 5 b) Other Incoming Resources Speakers Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 236,190 - 236,190 63,821 86,324 48,300 134,624 141,684 322,514 48,300 370,814 205,505 11,500 - 11,500 - 11,500 - 11,500 - |
|---|---|
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Administrative Expenses 5 Advertising & Publicity 5 Bank Charges Consultancy Costs 5 & 13 Equipment Costs Insurance Costs 5 IT Costs 5 Licenses & Subscriptions Postage & Stationery Printing Costs Sundry Expenses Telephone Costs Travel & Subsistence Website Costs ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees 5 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 400 2,161 2,561 5,697 2,039 1,029 3,068 6,235 3,300 - 3,300 278 7,012 55,257 62,269 44,511 - 1,684 1,684 2,275 - 817 817 - 4,524 380 4,904 18,939 777 - 777 754 7,106 - 7,106 14 4,566 2,915 7,481 6,957 1,330 30 1,360 2,547 102 - 102 2,976 49,790 22,516 72,306 16,399 743 - 743 1,533 81,689 86,790 168,479 109,116 1,020 - 1,020 850 3,140 3,300 6,440 4,842 4,160 3,300 7,460 5,692 |
|---|---|
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| MCF Fund UBS Fund Relativity Gives Fund United Nations Development Programme |
Balance Balance 01-Jun-22 Income Expenditure Transfers 31-May-23 £ £ £ £ £ 116,388 - 78,080 - 38,309 23,797 - 6,143 - 17,654 - 8,000 - - 8,000 - 40,300 5,867 - 34,433 140,185 48,300 90,090 - 98,396 |
|---|---|
PREVIOUS FINANCIAL PERIOD
| UBS Fund MCF Fund |
Balance Balance 01-Jun-21 Income Expenditure Transfers 31-May-22 £ £ £ £ £ 49,193 - 25,396 - 23,797 - 120,104 3,716 - 116,388 49,193 120,104 29,112 - 140,185 |
|---|---|
The restricted funds held are wholly represented by the CIO's cash reserves and are to be expended as specified above.
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
6. INVESTMENTS
The CIO held no fixed asset investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ 402,592 98,396 500,987 296,172 402,592 98,396 500,987 296,172 Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ 530 - 530 - 530 - 530 - |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fees | Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ 1,020 - 1,020 850 |
|---|---|
| Sundry Creditors | 1,400 - 1,400 2,600 |
| 2,420 - 2,420 3,450 |
|
| 10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR | |
| Loans - Accur8Global Limited | Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ 16,250 - 16,250 16,250 |
| 16,250 - 16,250 16,250 |
|
| 11. NET ASSETS BETWEEN FUNDS | |
| Fixed Asset Investments | Unrestricted Restricted Total Total Funds Funds 31-May-23 31-May-22 £ £ £ £ - - - - |
| Net Current Assets | 400,702 98,396 499,098 292,722 |
| Long Term Liabilities | 16,250 - 16,250 16,250 |
| 384,452 98,396 482,848 276,472 |
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
12. STAFF COSTS AND NUMBERS
| Total 2022/23 £ Gross Wages, Salaries & Fees 62,269 Employer's National Insurance Costs - Pension Contributions - 62,269 Consultants who were engaged in each of the following activities: Total 2022/23 Activities in furtherance of organisation's objects 6 |
Total 2021/22 £ 44,511 - - 44,511 Total 2021/22 6 |
|---|---|
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments of over £60,000 (2021/22:None). The Charity employs Consultants on a self-employed basis and is therefore not subject to taxation or National Insurance Costs.
13. TRUSTEES AND OTHER RELATED PARTIES
During the financial period Trustee Mrs M. Jamme received £20,512 (2021/22:£24,100) in fees for services provided in furtherance of the Charity's objects.
During the previous financial period the Trustees of IAMTHECODE agreed to obtain an interest free loan from Accur8Global Limited (Registered Company Number 13647246) to further the Charity's objects. Trustee Mrs M. Jamme is also a Shareholder of Accur8Global Limited (Registered Company Number 13647246) and all conflicts of interest have been identified, documented and managed accordingly.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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IAMTHECODE FOUNDATION
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of IAMTHECODE Foundation on the accounts for the year ended 31st May 2023 set out on pages 7 to 14.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 20th August 2024
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