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2022-07-31-accounts

Charity registration number 1195283

Company registration number 08822252 (England and Wales)

NISAI EDUCATION TRUST LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

NISAI EDUCATION TRUST LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr D P Patel Ms K Tsukada Mr P H Keenleyside Mr J McCann Mr J Pugh Ms D Yates Mr A Hoq (Appointed 21 July 2022) Charity number 1195283 Company number 08822252 Independent examiner KPSR LLP 58 High Street Pinner Middlesex HA5 5PZ

NISAI EDUCATION TRUST LIMITED

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 11

NISAI EDUCATION TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 JULY 2022

The Trustees present their annual report and financial statements for the year ended 31 July 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

To advance the education of the public in general (and particularly amongst teachers and educationalists) on the subject of ‘online’ education and to promote research for the public benefit in all aspects of that subject and to publish the useful results.

Nisai Education Trust was recognised as a Charity in July 2021 after a number of years as a small non-profit c

The charity’s work is about:

• promoting awareness of on-line and blended options to delivering education – knocking away barriers that can unfairly prejudice young people who find it difficult or impossible to access traditional schooling.

• working together with parents/carers, governmental and non-governmental organisations to put together delivery and funding models for vulnerable learners, and to raise awareness of the issues those children and young pe

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

NISAI EDUCATION TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

Achievements and performance

In early 2020 everyone experienced a changed world – and needed to know more about delivering learning online through the pandemic. Our focus through 2021 was to reach out to educators to talk about what we knew… and to ensure that the programs and projects we had begun were successful.

Providing learning equipment that made a real difference to vulnerable learners.

In the UK 20 refugee mums at the Happy Baby Community continued to have access to learning through the pandemic. In the Philippines, our project laptops were used so that 60 primary age children could access education programs from Singapore during lock-down.

Professional development at a difficult time

The Nisai Education Net (NET) webinars supported over 1200 educators in 4 continents as they responded to the challenges of online and blended through and beyond the Covid - 19 pandemic. The webinars addressed thinking about how best to deliver education online, what were the impacts on learner and educator well-being during the pandemic, and how we might build back different with what we were learning.

Educators told us that NET webinars brought something of real value at a difficult time. • 100% of attendees rated the webinars as ‘good or better’ and

• over 76% rated them as ‘excellent’.

We delivered downloadable support and guidance on how to support learners with Dual and Multiple Exceptionality. Moreover, we made it available to every teacher in every Alternative Provision setting in England.

Learning … Differently.

With financial support from Oak Foundation Nisai Education Trust developed a cloud-based, mobile accessible version of Units of Sound – an innovative literacy tool that has a blended (online/face-to-face) delivery model.

Over 4300 learners have been able to continue on this program and a further 3348 learners have joined since the

cloud-based version went ‘live’ in January 2021.

Since January 2021 180 literacy teachers and tutors in 132 schools and teaching centres in the UK and Asia have been trained to deliver the Units of Sound cloud-based literacy program with UNESCO IITE we have been learning about how best to use blended (online and in-school) experiences to engage young people in the global sustainability agenda. 40 young people in 10 schools took part in an international pilot program. We’ve also worked in community and secure settings in the US.

Financial review

The trustees are satisfied with the charity's financial performance throughout the year and the financial position at the year end.

The Trustees are secure in Nisai Education Trust as a going concern after the second year of operation as a charity.

The charity aims to hold as unrestricted reserve sufficient funds to provide for one year of core operation should there be no further income.

This is to ensure that all action research activity can be collated and reports published for public benefit ahead of any winding up process.

For financial years 2021 and 2022 the Directors determined that this figure should be at £50,000.

NISAI EDUCATION TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

Plans for future periods

In the coming year the Trust will continue to develop and discuss work around blended learning interventions for vulnerable learners and those with learning differences. We are particularly focused on training teachers who work with these learners, and on how we can better meet the needs of learners who are in, or at risk of being in, the criminal justice system.

Structure, governance and management

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

Nisai Education Trust governing document are articles of association for a charitable company.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr D P Patel

Ms K Tsukada

Mr P H Keenleyside Mr J McCann Mr J Pugh Ms D Yates Mr A Hoq (Appointed 21 July 2022)

The Board acts as a Management Committee and meets at least three times in each year. It is responsible for the strategic direction and policies of the company.

At present the Board of Trustees has seven members from different professional backgrounds relevant to the work of the Trust.

In the event of particular skills being lost due to retirements individuals with relevant skills and experience are approached to offer themselves for election to the Board of Directors. The Directors are provided with the relevant information relating to their responsibilities.

The Trustees are both directors and Charity trustees. They have control of the Charity and its property and funds.

The Board of Trustees consists of at least five and not more than eleven individuals. Directors are either:

The Chair of the Board is confirmed by Trustees at an Annual General Meeting and is an ‘Appointed Trustee’.

A memorandum of understanding exists between Nisai Group Limited and Nisai Education Trust Limited which sets out the formal and supportive relationship to meet the charitable aims of Nisai Education Trust Limited. The agreement is reviewed and renewed each year and delineates:

Public benefit

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit and has an agree policy in place with regard to it.

NISAI EDUCATION TRUST LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

The Trustees' report was approved by the Board of Trustees.

Type text here

Mr D P Patel Trustee

11 May 2023

NISAI EDUCATION TRUST LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF NISAI EDUCATION TRUST LIMITED

I report to the Trustees on my examination of the financial statements of Nisai Education Trust Limited (the Charity) for the year ended 31 July 2022.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

KPSR LLP

58 High Street Pinner Middlesex HA5 5PZ

Dated: 11 May 2023

NISAI EDUCATION TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2022

**Unrestricted ** Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 2 33,117 110,156
Expenditure on:
Charitable activities 3 31,919 85,485
Net income for the year/
Net movement in funds 1,198 24,671
Fund balances at 1 August 2021 55,652 30,981
Fund balances at 31 July 2022 56,850 55,652

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

NISAI EDUCATION TRUST LIMITED

BALANCE SHEET

AS AT 31 JULY 2022

Notes
Current assets
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within
one year
8
Net current assets
Income funds
Unrestricted funds		 2022
£
£
11,000
45,850
56,850
-
56,850
56,850
56,850		 2021
£
£
-
56,122
56,122
(470)
55,652
55,652
55,652		 2021
£
£
-
56,122
56,122
(470)
55,652
55,652
55,652
55,652
55,652

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2022.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 11 May 2023

Mr D P Patel Trustee

Company registration number 08822252

NISAI EDUCATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

Charity information

Nisai Education Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is .

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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 Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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 Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

NISAI EDUCATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 total of direct costs and shared costs, including support costs involved in undertaking 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 between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified 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 arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate 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-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

NISAI EDUCATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

(Continued)

1.8 Employee benefits

The cost of any unused holiday entitlement 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 terminate the employment of an employee or to provide termination benefits.

2 Donations and legacies

Unrestricted Unrestricted funds funds

2022 2021
£ £
Donations and gifts 33,117 110,156

3 Charitable activities

Direct
Direct
Charitable
Charitable
Expenditure Expenditure
2022 2021
£ £
Direct costs 29,818 81,805
Bank charges 305 310
Travel expenses 323 -
Legal and professional 188 3,000
Insurance 1,285 -
Promotions and advertising - 370
31,919 85,485
31,919 85,485

4 Trustees

Trustee remuneration amounted to £16,387.

5 Employees

The average monthly number of employees (including Trustees) during the year was:

2022 2021
Number Number
7 6

NISAI EDUCATION TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

5 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

6 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

7 Debtors

Amounts falling due within one year:
Other debtors
8
Creditors: amounts falling due within one year
Trade creditors
Other creditors		 2022
£
11,000
2022
£
-
-
-		 2021
£
-
2021
£
370
100
470

9 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).