**REGISTERED CHARITY NUMBER: CIO 1191583**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE PERIOD FROM 1 JANUARY 2022 TO 31 DECEMBER 2022**
**FOR**
## **TRANSFORM SCHOOLS UK**
## **TRANSFORM SCHOOLS UK**
## **Trustees' report for the period ended 31 December 2022.**
The trustees present their report with the financial statements of Transform Schools UK for the period from **1 January 2022 to 31 December 2022** . The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The charity was registered as a Charitable Incorporated Organisation (CIO) with The Charity Commission of England and Wales on 1st October 2020. The organisation is governed by its Constitution and Rules. The Board of Directors of the charity are its Trustees for the purposes of charity law and throughout this report are collectively referred to as Trustees.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and Aims**
Transform Schools UK works to improve access to better quality and equitable secondary education for students with a special focus on those who come from poor, underserved and vulnerable backgrounds. We engage with the global community to raise awareness of the issues, and seek support to fund and foster high-quality educational programmes.
## **Significant Activities**
During the reporting period, we invited one new Trustee to our group of Board and Advisors, Ms. Abha Thorat-Shah. Ms. Thorat-Shah leads Social Finance work across South Asia as a founding member of The British Asian Trust. She has also been a crucial driver of the development of innovative social finance mechanisms, heightening the Trust’s entrepreneurial approach to philanthropy to meet Sustainable Development Goal targets.
## **Public Benefit**
Transform Schools UK works to improve access to better quality and equitable secondary education for students with a special focus on those who come from poor, underserved and vulnerable backgrounds. It will primarily support organisations working to promote this aim in India.
## **FINANCIAL REVIEW & POLICIES**
## **Financial Position**
The charity incurred no expenses during the reporting period. Since the close of the 2022 financial year, the charity has established a bank account, received initial funding and increased its activities.
## **Policies**
The following policies were developed during the reporting period for adoption in 2023:
1. Reserves Policy
2. Conflict of Interest Policy
3. Data Protection Policy
4. Safeguarding Policy for Children and Vulnerable Adults
## **FUTURE PLANS**
To support the work of those seeking to positively impact the learning and life outcomes of middle and secondary school children, with a particular focus on India, including the development of a three-year strategy that will involve academic collaboration, consultation and publications and a strong, focused fundraising strategy.
## **Structure Governance and Management**
Transform Schools UK is governed by the CIO constitution established on 1st October 2020.
## **Trustees**
The founding trustees of Transform Schools UK are Ms. Soma Pujari (Chair) and Ms.Rebecca Eastmond. Ms. Abha Thorat-Shah has also been added as a Trustee. The trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises. The power of appointing new trustees is vested in the trustees.
## **Decision-making**
The trustees hold ultimate responsibility for the policies, activities and assets of the CIO: they agree on the strategy, review funding proposals, approve grants, manage fund-raising activities and consider the Trust’s social impact.
## **Risk Management**
Post the pandemic, we scoped the emerging needs in India which is Transform Schools’ primary market. As of September 2022, the trustees have commenced a gradual launch of charitable activities.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Registered Charity number 1191583.
## **Principal Address**
55 New Oxford Street, London WC1B 1BS Approved by order of the Board of Trustees on 13th October 2023 and signed on its behalf by:
13.10.2023
......................................... ........................................ Rebecca Eastmond Date Trustee
## **TRANSFORM SCHOOLS UK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31ST DECEMBER 2022**
|Unrestricted funds|Restricted funds|Restricted funds|Total Funds|Total Funds|
|---|---|---|---|---|
|£||£||£|
|**INCOME AND**|||||
|**ENDOWMENTS**|**-**||**-**|**-**|
|**FROM**|||||
|Donations and legacies
|-||-|-|
|Investment income|||||
|________________||________________ ______________|||
|**Total**|||||
|**EXPENDITURE ON**|||||
|**Charitable activities**
|-||-|-|
|**Total**|||||
|________________||________________ ______________|||
|**NET INCOME/**|**-**||**-**|**-**|
|**(EXPENDITURE)**|||||
|**RECONCILIATION OF**|||||
|**FUNDS**|||||
|**Total funds brought**|||||
|**forward**|||||
||_||_|_|
|________________||_________________||______________|
|**TOTAL FUNDS**|||||
|**CARRIED FORWARD**|||||
||_||_|_|
|_________________||_________________||_______________|
The notes form part of these financial statements
## **TRANSFORM SCHOOLS UK**
## **STATEMENT OF FINANCIAL POSITION 31ST DECEMBER 2022**
|Unrestricted funds|Unrestricted funds|Restricted funds|Total Funds|
|---|---|---|---|
||**£**|**£**|**£**|
|**FIXED ASSETS**||||
|Tangible assets|_|_|_|
|_________________||__________________ _______________||
|**CURRENT ASSETS**||||
|Debtors|
-|-|-|
|Cash at bank|
_|_|_|
|__________________||__________________ _______________||
||**-**|**-**|**-**|
|**CREDITORS**||||
|Amounts falling due within one||||
|yea**r**||||
||_|_|_|
|__________________||__________________ _______________||
|**NET CURRENT ASSETS**||||
||_|_|_|
|__________________||__________________ _______________||
|**TOTAL ASSETS LESS**||||
|**CURRENT LIABILITIES**|-|-|-|
|**NET ASSETS**||||
||_|_|_|
|__________________||__________________ _______________||
|**FUNDS**||||
|Unrestricted funds|||-|
|Restricted funds|||**-**|
|**TOTAL FUNDS**|_|_|_|
|__________________||__________________ _______________||
The financial statements were approved by the Board of Trustees and authorised for issue on 13th October 2023 and were signed on its behalf by:
**Rebecca Eastmond Trustee**
## **TRANSFORM SCHOOLS UK**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE PERIOD ENDED 31 DECEMBER 2022**
## **1. Accounting Policies**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.