Transformational Enterprise etwork HANDOUTS ANDSHAKES Transforniational Enterprise Network Report and Financial Statements Year Ended: 31 December 2024 Charity No: 1194973
Reference and administrativ• inforniation Trustses J C A Marshall, Chair of Trustees l T Pounce N J Houghton l Banda G Dandy Executlve Dlrector J C A Marshall Registered Offlce B8nkside, Sandy Lane, Weaverham, NORTHWICH. Cheshire. CW8 3PX. Charlty Nurnr: 1194973 Banker8 National Westminster Bank PIC Report of the truste•• for the year •ndlng 31 December 2024 The trustees present their annual report and financial ststements for the period ending 31 December 2024. Structure, govemance and management Transformational Enterprise Network (TEN) is a registered charity, number 1194973. It is governed by a CIO 'Foundation Model. constitution dated 9 November 2020. Executive Director Jerry Marshall works on a pro bono basis. He is an entrepreneur who has founded a range of businesses and 181 enterprises. has been especially engaged in business solutions to poverty, and developed the 'Mind Your Business. training material available free from TEN. New trustees are appointed by existing trustees and serve for three years after which they may put themselves forward for re-appointment. The constttution provides for the minimum of 3 trustees to a maximum of 12 trustees. Trustees give their time freely and no trustee remuneration was paid in the last year. Our Patron, Lord Michael H stin s, was appointed in 2021. The Board has agreed finana81 authorities and a grani making policy. Risk management reviews are cnnsidered by the trustees annually. Cover Photos". London Confw•n¢e Fmm HaTr*xrts to Hafftlshakes.. business start-up training in Uganda,. gu&$l houses suppryting NArrc'. sea trials aTrJ m8mters' retreat on IslarLI Reach bef(Ye st was delivered lo Madagascar to FvIde medical dental ServS.
Objectlves and activities for the public benefrt The objects of the CIO are: 'The prevention or relief of poverty, for the public benefit, anyMthere in the wodd, by the provision of training and supwrt on the creats'on or development of businesses and other enterprises to individuals or organisations and charities working to prevent or relieve wverty, as a practical expression of the Christian faith." Our prime purpose is to develop enterprise-based solutions to poverty, an approach that is: sustainable (not long tem dependent donations): builds dignrty and self- esteem,. and avoids creating a dependency culture. This is achieved by growing a community of members who share a common Christian faith, have a desire to alleviate poverty, a willing to volunteer their business skills and experience for TEN on a pro bono basis. and are accountable to each other through small groups. There are two types of project that we support for the public benefit: 1. Those identffied by TEN where we inwte members to engage as mentors, advisors. trainers, donors, etc. and where we may provide grants to faalitate finanaally self-sustaining initiatives. 2. Enterprise-based poverty alleviation projects set up by members, where TEN helps provide accountability. prayer support and speoalist advice from other members. A particular asset is the "Internation81' edition of TEN'S Mind Your Own Business (MYOB) business start-up workbook and templates, wthich is freely in several languages on our website. The trustees confimi that they have referred to the Charity Commission's general guidance on public benefit when reviewing and planning our activities outlined below and in setting our grant making policy. Actlvltle8 In 2024 We have 290 subscribers including 80 indiwdu81 and org8ni8ational members or regular donors. Members benefit from a website v#N.1encommUnlt . net including directories,. monthly eNews and Zoom gatherings: a members, forum,. and a support and accountability group. Highlights of 2024 indude the following. We delivered a very well received day conference in London in June on behalf of an informal alliance of five organisations in a similar field. The aim w8S to inspire delegates to use their skills and resources to develop business solutions to poverty. Comments induded.. "A triumph"... r)ne of the best conferences I have ever been to. We supported members through a monthly online gathering., a small support and accountability group; and a short "retreat. on a small YWAM ship 'lsland Re8ch°. This also fomied part of their sea trials prior to deployment on Madagascar to provide medical and dental services. Director Jery Marshall delivered micro business start-up training to 200 people and potential trainers across Uganda. Trainees from these sessions have subsequentiy trained approximately 2,000 further Ugandans.
We successfully sought funding from tsvo UK grant making trusts to enable our Kenyan partner Gra Development Fwndation (GDF) employ an urgently needed administrator. GDF have helped ¢ate over 255,000 small businesses and 2,600 savings and loans groups with 4,200 volunteers. We helped our partners Nyero Altemative Technology Training Centre (NATTC) near Kumi. Uganda to complete three guesthouses near the ancient Nyero rock paintings and listed the facilrties on Booking.com. This resulted in a stream of bookings and 8 9.3 'superb' rats'ng, generating income and enabling hospitability training at NAC. Already work has started on building two more guesthouses without additional TEN funding. Plans for the Future We continue to work on the priorities agreed in 2022, which are to build long tenn sustainability; increase impact,. and grow communty. As well as regular online events, we are developing a video version of the Mind Your Own Business course and are planning a treat and possibly a fvrther conference.
The Transformational Enterprise Network Statement of Financial Activities For the year ending 31 December 2024 Unrostrfcted funds £ Restricted funds £ Total Funds 2024 £ Total Funds 2023 £ Incomlng rnsources Membership donations Other donalions 1c 8,298 950 8,298 19.330 1,626 6,093 36.347 5,790 9,630 1.037 18,380 Gift Aid 1.626 Event Income 6,093 16,967 2,991 19.448 Total Incomlng resources 18.380 Rosources •xp•ndod Costs olraising funds Donation payment fees Markeling and fundraira Dirnct Gosts 1d 338 338 222 (800), (800> (3,700), Grants 12,380 14,224 21,268 Web hosting Event costs 1,163 7,798 1.830 1,163 7,798 1,830 1,080 2,991 1,951 Materials & expenses Support & govemance costs Computing & Comms Totsl r•$ource• •xp•nd•d 155 155 144 12,328 12.380 24,708 23.956 Funds carrfed forward 4.639 2,062 10,639 2.062 {4,508) 6,570 Fund balances bll Trensfers between funds Fund balances eJf 6.701 6,000 12.701 2.062 Rtfund of NPG fund rn15in¢ fees
The Transformational Enterprise Network Balance Sheet as at 31 December 2024 Restrlcted funds £ Total Funds 2024 £ Total Funds 2023 £ funds £ Flx•d assets Currnnt Asuts Bank account 6.701 6.000 12,701 757 Prep8yment Accruals 1.305 Net curr•nt amets 6.701 6,701 6,IXIO 6,000 12.701 12.701 2,062 2.062 Total ••sets R8pr8S8nted by.. Restricted funds & prowsions Unrestricted funds 6.000 6,701 12.701 2,062 2.062 Notes to the accounts 1. Accountlng polkles (al Ba•h of prnp•r4tk The financial stalements are prepared under the historic cost convention in accordan wtth the Statement of Recommended Prxtice A(UntIng and Reporting by Charities (SORP 2015) and applicable UK Accounting Standards {FRS102) and the Chants'es Ad 2011. The CIO was entitled to exemption from audit under section 144 of the Chaiitie8 A(#. The charity constitute8 a public benefft entity as defined by FRS 102. Ib) Funds Unrestricted funds are funds which as available for use at the discretion of the trustees in furtheran of the obpctives of the charity. Restricted funds are funds to be used in accordan with the specific instructions of the donor. (C) Incomlng r•source8 All incoming resources are recognised once the chanty has enbtlement to the resources, it is certain the resources will be receiled and the mnetary value can be measured with suffiaent reliakn'lity. There has been no offsetting of assets and liabilities, or incoffe and expenses, unless required or perynitted by the FRS 102 SORP or FRS 102. The value of unpaid donated 8en4ices has not been induded. (d) Resources expended Liabilities are reo)gnised as expended as soon as there is a legal or constructive obligation committing the chanty to the expenditure. All expenditure is Unted on an basis under headings that aggregate all costs in that category. Expenditure indudes attributable VAT which cannot be recove. Grants are payments maye to third parties in furtherance of the objectives of the charity. Trustees receiv&J no emolumerrts or expenses.
- Glft Ald Gift Aid receivable is induded in incoffo when Ihere is a valid dedaration from the donor. Any Gift Aid amount recJ)vered on a donation is COndered to be part of that grft and is treated as an addition to the same fund as the iniknal donation unless the donor or the teS of the appeal have Sfied otherwise.
- Anatysls of grants mad• 2024 (£) Cou Burundl Kenya Pu Printin8 workbook in Kirundi GDF Administrator GDF General funds Eco-stove I fuel projert TANU Well NAThC sofa bed for guest house Training events books and pens Training events catering costs Dorcas Dress Project Island Reach Jubilee + Stronger Network RtrIcted £450 £6,000 £2,965 Total £450 £6,000 £2,965 £234 £2,045 £75 £144 £506 £2Tr) £1,455 £50 £100 Mada U8anda £234 £295 £75 £144 £506 £2 £240 £50 £iLwJ £&844 £1,750 UK £1,215 TOTAL £380 Report and Financial Ststements approved by Trustees on 24 January 2025 and signed on t r behalf by Jery all, Chair of Trustees
Report of the Independent Examiner The financial statements and accounts of Transfonnational Enterprise Network for the year ending 31 Dec 2024 have bn found to show a true and correct record of all financial transactions and nothing has come to my attention that gives Me any cause for conM. JJC Freeman, Chartered Engineer, 6 February 2025