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 re￿Iving 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 redU￿d 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 Strat￿lC 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 a￿ordan￿ 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 be￿een
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 re￿gnised 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 re￿ived.
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 bett￿een 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
incomel1expenditu￿I 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 re￿ip1S 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
can￿lled.
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 balan￿S 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
resoU￿e$
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-