Charlty reglstratlon number 1193124 IEngland and Walesl RAFIKI THABO FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE 15 MONTH PERIOD ENDED 31 MARCH 2025
RAFIKI THABO FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Jonathan Uglow Andrew Uglow Paul Evans FCA Susannah Carras Elizabeth Dunford Benjamin Hil¢hens Lisa Warne Chrissie Krappè Charity number 1193124 Independent examlner Gary Howard FCA Howard Wilson Chartered Accountants 36 Crown Rise Vvafford Hertfordshire WD25 ONE Bankers Lloyds Bank plc PO Box 1000 Andover BX11LT
RAFIKI THABO FOUNDATION CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes lo the financial slalements 8-18
RAFIKI THABO FOUNDATION TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2025 The trustees present their annual report and financial slalemenls for the period 1st January 2024 to 31 March 2025. The Iruslees decided to extend the financial year by one quarter in order lo align the financial years of the Charity and Ils trading subsidiary, ACACIA UK (Trading) Ltd, going forward. The finanaal statements have been prepared in accordance with the accounting policies set OLJt in note 1 to the rinanaal statements and comply wth the charty's governing document, the Charities Act 2011 and "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 IFRS 1021" {effeclive 1 January 20191. Obj&ctiv8s and activiti8S The Objects of the charity are 11 lo advan the education of the public in Africa, 21 to alleviate povety and hardship, and 31 the relief of those in need, by reason of ill-health, physical and developmental disabilities and mental health challenges induding through educational opportunities. Our mission is to support individuals and their communities in Africa through education that embraces their differing abilities. Our vision is that young people, including those living with disabilities. will be empowered through edu¢alion lo enable them lo reach their full potential and initiate positive change in their communities. The Trustees have complied wth their duty lo have regard to the guidance on public benefit published by the Charity Commissioners in exercising their powers or duties. Achievements and perforrnance In 2024 and the first quarter of 2025, we continued lo implement our work in Kenya, Lesotho and Uganda through four main programmes." a scholarship programme, the 'Eal Well lo Learn, school meals programme, a school infrastructure development programme, and a programme to remove barriers to education for people living with Thanks lo the generosity of our supporters and donations from our trading subsidiary ACACIA UK, we were once again able to increase the number of students reIving scholarships for their secondary andlor higher education. We also provided scholarships al pre-primary and primary schools for a number of ¢hildren with disabilities who need more inclusive educational settings rather than attending lfreel mainstream primary schools. Over the COLJrse of the period. we supported a record 565 scholars to continue with their education. of which 337 were in Kenya. 163 in Uganda and 65 in Lesotho. Of the total number of scholars, 49Qfi were girls and at least 39 were living with a disability. We were also able to accept an additional 21 scholars whose families were badly impacted by severe weather events, thought to be caused by dimate change onto our Uganda programme - we had not budgeted for these additional scholars but could not risk them dropping out so managed to find ftjnds to support them. Through our 'Eat Well lo Leam, school meals programme, we continued to provide school meals to at least 70 of the most vulnerable children at Kamuganguzi Janan Luwum Memorial Secondary School, one of our partner schools in rural Uganda. We also continued lo work with the management teams of our partner schools to find ways of improving the learning environment for pupils at their schools. Following the successful completion of projects at Rwesasi Secondary School in Southwest Uganda in 2023, in 2024125 we formally adopted the school as OLJr second partner school in Uganda, alongside Kamuganguzi Janan Luwum Memorial Secondary School, and thanks to a grant from charitsble trust, were able lo ftjnd the conslru¢tion of a new girls, toilet block al Rwesasi. Trustee Elizabeth Dunford visited OLJr Uganda programme in August 2024 in order to discuss future programme development with our committee. visit our projects. and meet scholars and graduates. We also continued to work with our longstanding partner school in Kenya IACK St. Bartholomew's School). with discussions during the period focused on how best to secure a good, reliable supply of fresh water to the school. This will be the first phase in a wider projed to bring the school back to its former glory, following the impacts of Covid resulting in redUd fee income which is vital for keeping the school well maintained. Following a visit to Lesotho in 2023 by Iruslees Jon and Andy Uglow, we were pleased to be able to fund the purchase of sports equipment for our partner school in Lesotho, Fusi High School. During the period we also funded some much-needed electrical work in the science lab there, provided funds for a new photocopier, and continued discussions with school management on potential improvements to the learning environment.
RAFIKI THABO FOUNDATION TRUSTEES REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2025 Under our disability programme, we consolidated our partnerships with Kenyan-led disability organisations, working closely with the Autism Society of Kenya IASKI and Dadashi Special Children's Centre lo design projects to remove the barriers to education faced by children with disabilities, as well as continuing lo discuss a skills training programme for mothers of children with disabilities with a potential new partner, Life Skills Oasis, which operates in the most economically deprived areas of Thika. The team al Dadashi do an amazing job providing much needed therapy for children with cerebral palsy and counselling to their parents in one of the most deprived areas of Nairobi. Once they have completed their course of therapy, each child is assessed by the Kenya Inslilule of Education IKISEI to establish the best educational setting for them bul unfortunately, many parents are unable lo afford to send their children lo the CoMMended schools. In response to this, we are pleased to have several of Dadashi's 'graduates' on our scholarship programme. During the period, we continued to provide core funding to Dadashi to help them reach financial sustsinability, and renovations started on a building they have been gifted by a Kenyan philanlhropisl- once they have moved into the new premises they will have much more space for expansion and no further rental overhead which will mean they can finally achieve full financial suslainabilily. We also sent emergency funds for the families who use Dadashi's services whose homes were destroyed by floods thought lo be caused by climate change. Following the success of ASK'S training of parents and caregivèrs of children with autism lo provide them with therapy throughout Kiambu County between 2021 and 2023, in February 2024 we funded a second round of training lo 160 parents and caregivers in neighbouring Murang'a County. They are now able not only lo provide much needed therapy lo their own children but also train other parents and caregivers of children with autism. Our main fundraising event during the period was a family fun day at Cokethorpe School in Oxfordshire in July 2024, hosted by CBBC and YouTube stsr Maddie Moale and England Cerebral Palsy Footballer Harry Baker. Unfortunately, the great British summer was not kind lo us so we didny raise as much from this event as hoped but it was still an excellent day with much fun had by alll We also ran a successful Big Give Christmas Challenge campaign raising over £15,000. We continued to work in partnership with Hampton Court House School, who raised funds for us in many ways, including a Rafiki Relay challenge, and were delighted when seven of our supporters look on the challenge of climbing Snowdon at sunrise in September 2024. with trustees Andy Uglow and Lisa Warne and their families taking on the same challenge later in the period. We held an online laun¢h of our short film featuring our disability programme which went on to be shortlisted for bNo charity film awards. We also opened fifth ACACIA charity shop in Bodey, Oxford, in July 2024. As the fundraising environment becomes ever more challenging, we took a StratlC decision lo pause our fundraising activities while we undertook a full ftjndraising review towards the end of the period. Financial review During the year the Charity received donations of £283,81212023.' £250.6581. Of these donations £103,41612023'. £79,000) was received from the Charity's subsidiary, ACACIA UK (Tradingl Limited. Investment income of £47,093 12023.. £36,569) was received and other trading activities raised £38,983 12023.. £76,015) so that the lolal income amounted to £382,39912023, £363,242) Income from fundraising events in the year was £17,983 12023. £64,815) with related costs of £9,943 12023. £29.7041, We share adminislralion costs with ACACIA UK ITradingl Limited and received management fees of £21.00012023'. £11,400) from them during the year. The Trustees made the following payments to our programmes in Kenya, Lesotho and Uganda.. Student support £365.70612023'. £206.1671 Support to schools £17,38912023.' £35.4471 Support to disability partners £6,79912023'. £14,512)
RAFIKI THABO FOUNDATION TRUSTEES REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2025 Al 31 March 2025 the Charity held a General Reserve of £36,019. This is below the minimum threshold agreed by the Trustees 1£40,0001 and is a result of the more difficult fundraising environment and the decision to pause our fundraising activities lo devise a new fundraising strategy in order lo achieve greater returns in future. As the Charity has an Investment fund which il is able to draw down on as required this slight dip below optimal reserve levels does not present a significant concem. Wth the re-launching of fundraising activities in the next financial year, the Trustees are confident that the General Reserve level will retum to being over £40,000. Plans for future periods Our scholarship programme will continue to be the core focus of our work in 202516. With an increasingly difficult fundraising environment, rising fee and accommodation costs, and increasing demands by higher education inslilulions for students lo have laptops, we are not sure whether we will be able to again increase the number of scholars being 5UPPOrted during 202518 - as we have managed to do every year since we started. However, we hope to be able lo lake on around 200 scholars from another scholarship programme In Kenya, with their current funder passing funds lo us." many of those scholars are al thè same schools as our scholars around Voi so being part of the same programme will make more sense and will lead to better support lo them. We will continue to maintsin our funding to the 'Eal Well lo Learn, school meals programme and will continue discussions with school management lo find ways of generating additional income for the school, partly in order to expand the provision of school meals. We will continue to discuss the development needs of our partner schools with school management. A likely focus in 2025126 will be the improvements to the supply of fresh water to ACK Sl. Bartholomew's school in Kenya and the school's wider renovations. We will also continue to work with ASK and Dadashi Special Children's Centre lo identify and fund specific projects aimed at removing the barriers lo education for children living wrth disabilrties. We hope to support ASK lo roll out the final training round for parents and caregivers of children with autism in Murang'a County. We will continue to stand alongside Dadashi as they move into their new premises and explore with them how we might best support them in this new and exciting phase of their development. We will hopefully also start working with Life Skills Oasis, welcoming some of the children Ljnder their care onto our scholarship programme and possibly funding the establishment of a skills training centre, like the one we helped establish at Dadashi, for mothers of children with Following the strategic review of our fundraising in the first quarter of 2025, during the 2025126 financial year we will concentrate on rebuilding and revamping our fundraising programme and strategy and upskilling our team. We expect to start running fundraising events again In 2026 and hope that some of our supporters will undertake challenge events for us during the 2025126 financial year. We also have an application In for a second Radio 4 appeal which we hope to run during the coming financial year. Structurg, governance and management The Charity is constituted as a Charitable Incorporated Organisalion ICIOI with a Constitution dated 15 January 2021 and began operations on 1 April 2021. The trustees who served during the period and up to the date of signature of the financial statements were.. Jonathan Uglow Andrew Uglow Paul Evans FCA Susannah Carras Elizabeth Dunford Benjamin Hilchens Lisa Warne Chrissie Krappe (Appointed 21 May 20251 New Trustees are appointed by a resolution of the existing Trustees in accordance with the Constitution. Major strategic decisions are taken by the Trustees but day lo day management of the Charity is delegated lo an Executive Committee, assisted by an employed Director, who is not a Trustee.
RAFIKI THABO FOUNDATION TRUSTEES REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2025 The Trustees Report was approved by the Board of Trustees. Jonathan Uglow Trustee 10 November 2025
RAFIKI THABO FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RAFIKI THABO FOUNDATION I report to the trustees on my examination of the Iinanaal slalemenls of Rafiki Thabo Foundab'on Ilhe charityl for the period ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the CharitiesAct 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examlnerfs statement Since the charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 1 confimi that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accounlanls in England and Vvales, which is One of the listed bodies. Your allenlion is drawn lo the fact that the Charity has prepared the financial statements in accordance ¥Mth the relevant version of the Slalement of Recommended Practi applicable lo Charities preparing their financial slalements in accordance with the Financial Reporting Standard applicable in the UK and RepLJbli¢ of Ireland IFRS 1021 in preference lo the A¢¢ounling and Reporting by Charities.. Ststemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been done in order for the financial statements lo provide a true and fair view in aordan with UK Generally Accepted Accounting Practice. I have completed my examination. I confimi that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial slalemenls do not accord wth those records., or the financial slalements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no Goncerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached. Gary Howard FCA Howard Wlson Chartered Accountants 36 Crown Rise Watford Hertfordshire D25 ONE 11 November 2025
RAFIKI THABO FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2023 2023 Total 2025 2023 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments 284,367 284,367 12,511 38,983 47,093 248,158 2,500 250,658 12,511 38,983 47,093 76,015 36,569 76,015 36,569 Total Income 370,443 12,511 382,954 360,742 2,500 363,242 Expenditure on: Raising funds Charitable activities 63,556 428,060 63,558 441,523 74,040 304,466 74,040 304,466 13,463 Total expenditure 491,618 13,463 505,079 378,506 378,506 Nel gainslllossesl on investments 11 14281 14281 62,273 62,273 Net incomellexpenditurel 1121,5991 19521 1122,5511 44,509 2,500 47,009 Transfers beeen funds 1,548 11,5481 Net movement In funds 1120,0511 12,5001 1122,5511 44,509 2,500 47,009 Reconciliation of funds- Fund balances al 1 January 2024 1,200,772 2,500 1,203,272 1,156,263 1,156,263 Fund balances at 31 March 2025 1,080,721 1,080,721 1,200,772 2,500 1,203,272 The slalement of financial adivities includes all gains and losses COgnised in the period. All income and expenditure derive from continuing aclivilies.
RAFIKI THABO FOUNDATION BALANCE SHEET ASAT31 MARCH 2025 2025 2023 Notes Flxed assets Investments 13 1,044,630 1,045,056 Current assets Debtors Cash al bank and in hand 14 22,326 17,727 125,286 35,280 40,053 16Q,566 Creditors: amounts falling due within one year 15 13,9621 12,3501 Ngt Currgnt ass9ts 36,091 158.216 Total assets less current Ilabllltles 1,080,721 1,203,272 The funds of the charlty Restricted income funds Unreslricled funds 17 19 2,500 1,200,772 1,080,721 1,080,721 1,203,272 The financial slalemenls were approved by the trustees on 10 November 2025 Jonathan Uglow Trustee Lisa Wame Trustee
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Accounting policies Charity information Rafik4 Thabo Foundation is a Charitable Incorporated Organisation ICIOI. 1.1 Accounting convention The finanaal statements have been prepared in accordance rith the charity's goveming dDcumenl, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. I°FRS 102.1 and the Charities SORP 'Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Stslemenl of Cash Flow5. The financial slalements have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetary amounts in these financial statements are roLJnded to the nearest £. The financial statements have been prepared under the historical cost convention, modified lo include certain financial instruments al fair value. The principal accounting policies adopted are sel out below. The charity has taken advantage of the exemption in the Charities (Accounts and Reports) Regulations 2008 and the SORP for charities not lo prepare consolidated accounts , on the basis that the group of which this is the parent qualifies as a small group The financial statements present information about the charity as an individual entity and not about ils group 1.2 Going concem At the lime of approving the financial slalemenls, the trustees have a reasonable expeetalion that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting In preparing the financial st8lemenls. 1.3 Charitable funds Unrestrided funds are available for use al the discretion of the trustees in ftJrtheran¢e of their Charitsble objectives. Restricted funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statements. Endowment funds are subject lo speufic conditions by donors that the capital musl be maintained by the charity. 1.4 Income Income is regnised when the ¢harily is legally entitled lo il after any perf0mlan conditions have been mel, the amounts can be measured reliably, and il is probable that income will be reived. Cash donations are recognised on receipt. other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donakn'on.
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of dire Costs and shared costs. including support costs involved in Ljndertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned betteen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreaation charges are allocated on the portion of the asset's use. 1.6 Fixed asset investments Fixed asset investments are Initially measured at transaction price excluding transaction Costs, and are subsequently measured al fair value at each reporting date. Changes in fair value are iecognised in net incomel1expendituI for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash &qulvalents Cash and cash equivalents include $h in hand, deposits held at call with banks. other short-lerm liquid investments wth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Seth'on 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Finanaal instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Finanaal assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised arnounts and there is an intention lo sethe on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assgts Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price Induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilules a finanung Iransaclion, where the transaction is measured at the present value of the future reip1S discounted al a market rale of interest. Financial assets clsssified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the atrangemenl conslilules a financing transaction, where the debt insttumenl is measured al the present value of the future payments discounted al a rnarkel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-¢urrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method.
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Accounting policies (Continued) Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or canlled. 1.9 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to lerminale the employment of an employee or to provide temiination benefits. 1.10 Retirement benefits Payments to defined ¢onlribulion retirement benefit schemes are Charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting poliaes, the trustees are required to make judgements, eslimales and assumptions about the carrying amount of assets and Iiabililies that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experien and other factors that are considered lo be relevant. Actual results may differ from these estimates. The eslimales and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are rècognised In the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods Whe the revision affects both current and future periods. Income from donations and legacies Unr9$trict&d R9$1rict&d funds funds 2025 2025 Totsl Unrèstricted Rostricted funds funds 2023 2023 Total 2025 2023 Donats"ons and gifts 284,367 284,367 248,158 2,500 250,658 Donations and gifts Planned Gift Aided donations Unplanned Gift Aided donations Income tax recoverable 20,895 20,895 14,734 14,734 11,637 27,715 1,40S 69,459 11,637 27,715 1,406 69,459 21,854 29,889 2,161 43,488 21,854 29,889 2,161 45,988 CAF Cash donations ACACIA UK (Trading) Limited Donations realised IhroughACACIA UK ITradingl Limited 2,500 103,416 103,416 79,000 79,000 49,839 49,839 57,032 57,032 284,367 284,367 248,158 2,500 250,658 10-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Income from other trading activities Unrastricted Unrostricted funds funds 2025 2023 Management fees Fundraising events 21,000 17,983 11,400 64,615 Other trading activities 38,983 76,015 Incorne from investments Unrestricted Unrestricted fund5 funds 2025 2023 Other income 47,093 36,569 Expenditure on raising funds Unrestricted Unrestricted funds funds 2025 2023 Fundraising and publicity Staging fundraising events Fundraising agents Advertising Other fundraising costs Staff costs 9,943 34,249 1,928 29.704 29,725 883 13,728 17,436 63,556 74,040
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Expenditure on charitable activities Charitable activities 2025 Charitabl8 activities 2023 Dlrgcl costs Staff costs Support lo students Support lo schools Support to partners Programme delivery costs Administration costs Legal and professional Costs Bank charges Travel expenses Independent examiners fees 38,188 365,706 17,389 6,799 8,122 38,782 206,167 35,447 14,512 8,118 313 124 3,136 1,560 1,440 441,523 304,466 Analysis by fund Unreslricled funds Restricted funds 428,060 13,463 304,466 441,523 304,466 Net movement in funds 202S 2023 The net movement in funds is ststed after ¢hargingllcreditingl' Fees payable for the independent examination of the charity's financial statements 1,560 1,440 Trustees None of the trustees lor any persons connected with them) received any rernuneration or benefrts from the charity during the period. 10 Employee$ The average monthly number of employees during the period was.. 2025 Number 2023 Number Director Fundraising Total 12-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 10 Employees (Continued) Employment Costs 2025 2023 Wages and salaries Social security costs Other pension costs 49,229 3,652 2,743 46,906 2,915 2,689 55,624 52,510 There were no employees whose annual remuneration was MO than £60,000. 11 Galns and losses on Investments Unrestricted Unrestricted funds funds 202S 2023 Gainslllossesl arising on.. Revaluation of investments 14281 62,273 12 Taxatlon The charity is exempt from taxation on ils activities because all ils income is applied for charitable purposes. 13 Fixed asset investments Listed investments Cost or valuation At 1 January 2024 Valuation changes 1,045,056 14261 At 31 March 2025 1,044,630 Carrylng amount At 31 March 2025 1,044,630 At 31 December 2023 1,045,056 13-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 14 Debtors 2025 2023 Amounts falllng due wlthln one year.. Amounts owetl by subsidiary undertakings Other debtors 10,829 11.497 36,125 89,161 22,326 125,286 15 Creditots- amounts falling due within one year 2025 2023 Accruals and deferred income 3,962 2,350 16 Retirement benefit schemes 2025 2023 Defined contribution schemes Charge lo profit or loss in respect of defined contribution schemes 2,743 2,689 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 17 Restrlcted funds The reslricled funds of the charity comprise the unexpended balanS of donations and grants held on trust subject to speufic conditions by donors as to how they may be used. At 1 January 2024 Incoming resources Resources expended Transfers At 31 March 2025 Installation of solar panels at partner schools MPM Charitable Trust Mazars Charitable Trust 2,500 12,4731 16,4941 14,4961 1271 17851 17361 7,279 5,232 2,500 12,511 113,4631 11,5481 Previous year: At 1 January 2023 Incoming resources Resource5 expended Transfers At31 December 2023 Inslallalion of solar panels at partner schools 2,500 2,500 14-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 17 Restricted funds (Continued) The giant from St. James's Place Charitable Foundation for instsllalion of solar panels al partner schools The Mazars Charitable Trust grant was for a project with Autism Society of Kenya The MPM grant was for construction of new gids, toilet block al a school in Uganda 18 Analysis of net assets between funds Unrestrlcted funds 2025 Restrlcted funds 2025 Total 2025 At 31 March 2026: Investments Current asselsllliabililiesl 1,044,630 36,091 1,044,630 36,091 1,080,721 1,080,721 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December2023- Investments Current asselsllliabililiesl 1,045,058 155,716 1,045,056 158,216 2,500 1,200,772 2,500 1,203,272 19 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incomlng Resources resoUe$ expended Transfers Galns and At 31 March losses 2026 Capital Reserve General funds 1,045.056 155,716 14261 1,044,630 36,091 370,443 1491,6161 1,548 1,200.772 370,443 1491,6161 1,548 14261 1,080,721 15-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 19 Unrestricted funds (Continued) Previous year- At 1 January 2023 Incoming resources Resource5 expended Transfers Gains and losses At31 Decernber 2023 Capital Reserve General funds 982,783 173,480 62,273 1,045,056 155,716 360,742 1378,5061 1,156,263 360,742 1378,5061 62,273 1,200,772 Designated Funds are ftjnds the capital of which must be retained, in accordance with a decision of the Trustees. Income arising from the investment of the Designated Funds may be used as unrestricted funds. 16-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 20 Related party transactions Transactions with related parties During the period the charity entered into the following transactions with related parties.. Donations and management fees 2025 2023 Donation from ACACIA UK (Trading) Limited Management fees 103,418 21,000 79,000 11,400 Amounts owed to charity at period end 2025 2023 ACACIA UK ITradingl Limited 10,829 36,125 17-
RAFIKI THABO FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 21 Subsidiaries These financial statements are separate charity financial statements for Rafiki Thabo Foundation. Detsils of the Charity's subsidiaries at 31 March 2025 are as follows.. Name of undertaking Registered office Nature of business Class of OA Held shares held Dire¢t Indlrect ACACIA UK ITradingl Limited UK Charity shops Guarantee 100.00 18-