## **Annual Report & Financial Statements for the Period Ended 31[st] March 2023**
## **Charitable Incorporated Organisation (CIO) Number: 1196225**
1
## **Teso Education Fund (TEF) (A Charitable Incorporated Organisation CIO)**
**Annual Report and Financial Statements for the year ended 31 March 2023**
||**Contents**||
|---|---|---|
|Legal and Administrative Information||3|
|Trustees’ Annual Report||4 - 11|
|Independent Examiners Report||12|
|Statement of Financial Activities||13|
|Balance Sheet||14|
|Notes to the Financial Statements||15 - 18|
2
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
The Trustees of Teso Education Fund present their Annual Report and Accounts for the year ended 31 March 2023
## **1. Reference and Administrative Details**
Name of Charity: Teso Education Fund Charity Registration Number: 1196225 Registered & Operational Office Office 1, 1 Coldbath Square London EC1R 5HL Tel: 0204 529 2693 Email info@tefuk.org Website https://www.tefuk.org/ Bankers Metro Bank PLC One Southampton Row London WC1B 5HA Independent Examiner: The Blessing & Contract Ltd 16 Leonard Road London SW 16 5TA
The trustees who served during the year to date of this report
Name Position 1. Leonard Opolot Oguli Chair 2. Solomon Emong Robon Trustee 3. Dr Solomon Afework Trustee 4. Alex Addo Trustee 5. Peter Lambert Olupot Trustee 6. Martha Ococ Trustee
3
**Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
## **2. Structure, Governance and Management**
## **Governing Document**
Teso Education Fund is a UK registered charity. It is governed by its constitution adopted on 19 August 2020. The charity exists to promote development through mobilising resources, especially finances, providing grants, and implementing projects in education, skills training, and education related and community interventions in the UK and in Teso in Uganda and Kenya.
## **Appointment and induction of Trustees**
As stated in the Constitution, the appointment of the trustees is staggered. Some trustees serve 3 years, some 2 years while others serve 1 year. Staggering the appointment of the trustees is aimed to ensure continuity, institutional memory and infusion of new ‘blood’. Appointment is done by a resolution passed at a properly convened meeting of the trustees. Newly appointed trustees are provided with a comprehensive induction pack containing Teso Education Fund’s constitution and roles and responsibilities as charity trustees.
Newly recruited trustees are oriented, briefed and mentored by established trustees on their legal obligations under charity law, the content of the constitution, the decisionmaking process, the objectives, strategies and recent financial performance of the charity.
## **Organisational Structure**
Teso Education Fund is governed by its 6-member Board of Trustees which is responsible for setting the strategic directions and policies of the charity. The board carries out the ultimate responsibility for the conduct of the charity and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet every month to deliberate on issues that are important for the smooth running of the charity, including risk assessment, safeguarding and management accounts.
The Board of Trustees give their time on voluntary basis. They are never paid for their stewardship. For effective oversight of the charity, trustees work in committees including finance, fundraising, and programmes committees. Trustees also appoint volunteers including executive director to manage the operations of the charity and offer them much needed advice and support in the management of the charity’s operations.
TEF is led by an executive director who is responsible to the board of trustees and leads the overall strategic direction of the organisation including fundraising and implementation of programmes. The executive director is assisted by 2 other directors who lead on specific areas including finance and administration and culture and community wellbeing.
4
**Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
## **Major risks**
The trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end, trustees of Teso Education Fund are continually monitoring and managing its risk register and ensuring that action plans are in place to mitigate its key risks.
Included in external risks is that of loss or lack of funding. At present, the main source of funding are donations by friends, families and the general public, events and specific fundraising activities. The charity continues to continually seek to diversify its funding sources. It is in our plan to start applying to charitable trusts and statutory funders, especially Local Authorities and Lottery sources.
Operational and internal risks are minimised by the implementation of policies and procedures for the authorisation of all transactions and projects, and by ensuring a consistent quality of delivery for all operational aspects of the charitable incorporation organisation (CIO). Trustees are periodically reviewing these procedures to ensure that they still meet the needs of the charity.
## **Public Benefit**
The Charities Act, 2011 requires trustees to ensure the charity meets the public benefit principle. The trustees have been guided by the principle of public benefit. All the activities that the Charity has undertaken have been for public benefit. Our activities have had beneficial and measurable impact (as shown elsewhere in this report) and have been open to the public (language and culture lessons, community events, laptops) or a significant section of the target population (education scholarships).
## **3. Objectives and Activities**
## **Objects**
The objects of the charity as stated in its constitution are:
1. To advance the formal education of needy children for the public benefit by undertaking activities such as sponsorship and career guidance to support learners, training, motivating, and empowering teachers, and supporting learning institutions in Uganda and Kenya.
2. To promote the education of needy children for the public benefit by undertaking vocational training activities such as sponsorship of, career guidance, and apprenticeship to trainees, training, motivating, and empowering trainers, and supporting training institutions with educational materials and infrastructure in Uganda and Kenya.
5
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
3. To facilitate the education and skills training of young people for the public benefit by preventing or relieving poverty, undertaking healthcare interventions including psychosocial support, research, and all the necessary support designed to empower needy individuals, families, and communities to generate a sustainable income and be self-sufficient in the UK, Uganda, and Kenya.
4. To advance education and skills training for the public benefit by undertaking community education activities such as indigenous language education, physical education, environmental education, civic education, financial education, promotion of the arts and culture and games and sports, for communities in need in Uganda, Kenya, the UK, and online.
5. To advance social inclusion in education and skills training by ensuring that children with disabilities and other marginalized children who are at the risk of being excluded from the education and vocational training system are actively sought out and included in special needs educational and training programs in the UK, Uganda, and Kenya.
In view of the above Teso Education Fund carried out the following activities in the UK and overseas in Uganda in the reporting period.
## **(a) Digital Poverty Project**
In February 2023, TEF launched a digital poverty project in partnership with an IT company. The purpose of this project is to address digital poverty in the UK, especially among people from ethnic minority communities. Our charity has provided 108 brand new and subsidised laptops to individuals from diverse communities in the UK.
In March 2023, TEF joined the Digital Poverty Alliance which is a membership organisation which advocates for ending digital poverty in the UK. It is a useful forum for information sharing, training and exploring opportunities to end digital poverty in the UK.
## **(b) Ateso Language and Culture Project**
During the year we conducted Ateso language and culture lessons for children, young people and other members of the community and the general public who want to learn the Ateso language, culture and history of Uganda and how to relate these to the British culture and society.
These lessons, conducted mainly online aim to raise awareness of the learners about their identity and how to adapt to the British society. In 2022 alone, we conducted 42 online sessions which were punctuated by Easter break, summer break and Christmas holidays.
6
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
## **Community Events**
We conducted community events in the year with most activities carried out by volunteers. We held a dinner dance in Croydon, South London on the 27[th] August, 2022 which raised £8,118 in cash and pledges for the Charity. During the dinner, we graduated some of the learners of indigenous languages and culture and British values.
## **Girls Education Empowerment Project (GEEP)**
This is a new project to provide full sponsorship to 13 girls to enrol on various highly demanded vocational courses in various tertiary institutions in Uganda. We are working towards implementing this project.
## **HIV Project**
This HIV prevention, stigma reduction and discrimination of people living with AIDS project focuses on children, women, and young adolescent girls. It is a community project to combat HIV in Uganda through prevention methods, stigma reduction and discrimination of people living with AIDS. This project is also in the pipeline.
## **Scholarship Program**
Teso Education Fund has established a scholarship program to support needy children and young people, especially girls to higher institutions in Uganda. This is the third year and 24 children have already been supported in higher institutions of education.
## **Networking, Collaboration, and Partnerships**
In the period under review, TEF developed value-added collaborations with many charities and community associations in the UK. These include Lango Association, UK, Ateker International Development Organisation (AIDO), UK Karamoja Community Foundation, Med Aid UK, and other Ugandan diaspora organisations engaged in community welfare provision and development.
In Uganda, TEF works in partnership with TEF Uganda, a registered national NGO. Teso Education Fund (TEF) Uganda is a charity affiliated to Teso Education Fund (TEF). This is an initiative by the Iteso community living in the UK. It was established in 2020 to respond to the education needs and challenges facing the people of Teso region. TEF Uganda is registered with the Uganda NGO registration bureau; No: 5565
## **Achievements and Performance:**
## **In the UK**
The executive director of TEF and one of the trustees attended a face-to-face training organised by the Charity Commission on 21[st] September, 2022. The theme of the training was Working Overseas: Risks, Responsibilities and Legal Duties (WORLD).
7
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
In November 2022, TEF UK signed a memorandum of understanding (MoU) with Uganda Technology and Management University (UTAMU) to provide 150 scholarships over 5 years; 50 scholarships will be provided in 2023, 50 in 2024 and the last 50 in 2025.
In the same month, TEF issued a call for scholarships under the TEF-UTAMU scholarship partnership. The applications were open for 2 months and closed on 30[th] Dec 2022. The applicants were selected in January and February and the successful applicants started their studies 10[th] May 2023. 5 students representing the 3[rd] Cohort of our sponsorship were successful and are currently enrolled at Uganda Technology and Management University studying BSc Accounting and Finance course.
In 2022, TEF sponsored 16 students, 9 female and 7 males from various districts to various institutions of higher education in Uganda to study courses including Certificate in Pharmacy, Building Construction, Medical Laboratory Technology, and Nursing and Midwifery. Diploma students were for Business Administration, Computer Science, Agriculture, etc. The beneficiaries of our scholarships are selected objectively on merit.
In total, TEF sponsored 30 students, 50% female and 50% male. This gender performance is 10% less than our target which requires 60% of beneficiaries to be female. Of these beneficiaries, 80% are studying science related courses either at professional certificate, diploma or degree level and they come from across the Teso region in line with our commitment to equality and equity in the distribution of opportunities.
In December 2022, the charity registered and activated an account with HMRC. This allowed the Charity to apply for a Gift Aid number. We also worked hard to strengthen the security of our website by acquiring an SSL certificate, among others organisational development interventions.
## **Overseas**
TEF UK has developed strong partnership with Teso Education Fund in Uganda. In November 2021, TEF Uganda was supported with a new laptop worth £300 and a new HP printer worth £150. This office equipment has greatly facilitated the work of TEF.
The charity also helped TEF Uganda to acquire official organisation telephone lines which were approved on 9[th] February 2022. The partnership identified volunteers to run the country head office in Soroti in north eastern Uganda. In line with this support, a volunteer manager and deputy country director were appointed.
In November 2022, TEF collaborated with TEF Uganda to conduct an online session to induct a new Regional Advisory Committee, a body established to support the Kampalabased Board of Trustees for TEF Uganda to strengthen the organisation at the community level.
8
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
TEF held its 2[nd] annual conference on education in the Teso region of Uganda at the Sports View Hotel, Kireka, Kampala, Uganda on 9[th] of April 2022. The theme of the conference was exploring funding opportunities for education in Teso. The conference also aimed to promote the work of TEF and to mobilize public support for it.
TEF engaged in talks with Kampala Institute of Science and Technology to partner in providing 160 scholarships to young people from Teso. The two organisations are still exploring avenues to actualize these discussions which started on 10[th] June, 2022.
Asian Ugandans Visit to TEF Uganda
In November 2022, TEF UK coordinated a delegation of UK Asians of Ugandan origin in England to visit TEF Uganda as part of their visit to their ancestral home – Uganda. While in Soroti, the visitors were briefed on the achievements of TEF. The delegation heard testimonies from some of the beneficiary students about how TEF had impacted their lives and the lives of their families through the education scholarships.
## **Impact of TEF**
TEF has impacted individuals, families, and communities in various ways.
In education, TEF has relieved parents of the burden of paying tuition fees for their children. At the same time, the students have had a life time gift of opportunity for education and because tuition fees are readily paid by TEF, the students have been able to concentrate and excel in their studies.
Through the digital poverty project, TEF has impacted the lives of over 100 people and their families who have access to laptops. One of the beneficiaries Dr. Charles E who bought it for his children said, _“the laptop was timely. My children were always on my case because of a computer. The laptop has been a great help”._ Another beneficiary of the digital poverty project, Sharon D from Croydon in South London who accessed 3 laptops praised the contemporary design of the laptop, its portability, and affordability. She said, _“this is a very good laptop. I am happy”._ There are countless other happy beneficiaries of the TEF laptops.
The indigenous language and culture lessons have had great impact on the learners, their families and friends. Jairah and her sisters, who attend the online lessons from South Africa were excited that they were able to communicate with their grandmother when they travelled to Uganda for holidays.
About 50 young people mostly from minority backgrounds benefited from the digital literacy project. They found a safe space to do productive work with their parents and elders. This has helped to prevent antisocial behaviour such as being involved in gang behaviour and crime.
9
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
The ‘teachers’ who are mainly parents and elders in the community donated their time and expertise, free to support the weekly online lessons which were very useful in several ways. They have been able to improve their own knowledge and skills of the indigenous language and culture and re live their memories growing up in Uganda.
The online lessons provided a welcoming environment for community socialising especially during the post lesson reviews. The lessons have thus helped to improve the psychosocial health and wellbeing of the parents and elders by preventing social isolation and loneliness.
Trustees want to sincerely thank volunteers from the community who play a great role in the success of the charity. They served on the board of trustees, lead in organising events and activities including teaching at our language and cultural school.
## **Financial Review**
During the period under review, the income of TEF was £26,154 and the expenditure was £27,874. The difference in expenditure was covered by the bank balance brought forward of £4,155. TEF closed the financial year with a bank balance of £2,435.
## **Reserve Policy**
TEF is still a new charity with income under £30,000; it has not been able to create any reserves, yet.
## **Principal funding Sources**
TEF relied mainly on donations from its volunteers in the board and management, wellwishers and fundraising events. This took the form of funding specific activities or setting up regular direct debit payments. At TEF’s first conference on education in April 2021, £5,000 was pledged to sponsor the second cohort of students into tertiary institutions in Uganda and another £4,000 pledge for developing the charity.
Other funding activities included online funding through Just Giving and Go Fund Me online campaigns. These have contributed to the resource base of TEF.
## **Future Plans**
In line with the mandate as a Charitable Incorporated Organisation (CIO), Teso Education Fund plans to continue with its current programmes in education and community wellbeing. We will also undertake activities to generate future income.
A director for business development and management and investment will be appointed to undertake both financial and operational feasibilities and to explore opportunities for future income generation strategy to address the sustainability of the Charity.
10
## **Teso Education Fund (TEF) Trustees Annual Report for the year ended 31 March 2023**
The Charity plans to set up community investment projects to generate cashflow for funds generation. The board will therefore create a reserve fund to take care of its sustainable future financial needs. This proposed strategy will guarantee both going concern, liquidity, and viability in our income generation in future.
Trustee will also work hard to (a) set up the digital literacy and media support classes, both face-to-face and online as weekly programs to help members of our community benefit from the new digital world. (b) enhance and improve on our youth programmes by setting up a youth club. (c) undertake community programs to improve welfare and wellbeing of the large East African Black and Minority Ethnic community in inner-London that this charity serves.
On behalf of the Board
…………………………………. Leonard Opolot Oguli
**Chair, Board of Trustees** 13/01/2024
11
## **Teso Education Fund (TEF) Independent Examiner’s Report to the Trustees of Teso Education Fund**
I report on the accounts for the year ended 31 March 2023. which are set out on pages 1 5 to 18
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
## **Independent examiner's report**
Our examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- (l) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or
- (2) to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached.
13/01/2024
12
## **Teso Education Fund (TEF) Statement of Financial Activities (SOFA) for the year ended 31 March 2023**
|Notes
2
2
2
2
2
2
**_Expenditure on:_**
TEF Scholarship fund -fees
3
fundraising costs
3
Community Participation
3
Administrative expenses
3
Accountancy fees
3
Others
3
**Total Expenditure**
**Net Income/ (Expenditure) and Net**
**Movement**in**funds for the year**
**_Reconciliation_of****_Fund:_**
Balances brought forward
**Balances carried forward**
10,11
**_Income from:_**
TEF Scholarship fund - Donation
Fundraising
Community Participation
Charitable Activities
Cultural Activities
Others Donations
**Total Income**|**Unrestricted**
**Designated**
**Total Funds**
**Total Funds**
**Year Ended**
**Year Ended Year Ended**
**Year Ended**
**2023**
**2023**
**2023**
**2021**
£
£
£
£
280
5,571
5,851
2,425
360
5,153
5,513
225
0
9,227
9,227
0
0
314
314
0
0
205
205
0
0
5,045
5,045
0|
|---|---|
||0
14,905
14,905
1,572
0
2,895
2,895
1,008
0
6,545
6,545
0
644
2,585
3,229
100
300
0
300
0
0
0
0
0
**640**
**25,514**
**26,154**
**2,650**|
||**944**
**26,930**
**27,874**
**2,680**
-304
-1,416
-1,720
-30
0
4,155
4,155
4,185|
||**-304**
**2,740**
**2,435**
**4,155**|
All amounts relate to continuing operations. The statement of financial activities includes all gains or losses arising during the year. The notes on pages 5 to 8 form an integral part of these financial statements.
## **Teso Education Fund (TEF) Balance Sheet as at 31 March 2023**
||||**Total Funds**||**Total Funds**||
|---|---|---|---|---|---|---|
||||**2023**||**2021**||
|**Fixed Asset**|**Note**||£|£|
£||
|Tangible Assets||4||0||0|
|**Total Assets**||||0||0|
|**Current Assets**|||||||
|Stock|||0||0||
|Debtors||8|0||0||
|Cash in hand|||0||0||
|Cash at Bank|||2,735||4,155||
|**Total Current Assets**|||2,735||4,155||
|**Liabilities:**|||||||
|Creditors amounts falling due within one year||9|300||0||
|**Net Current Assets**||||£2,435||4,155|
|**Total Assets Less Current Liabilities**||||£2,435||4,155|
|**TotalNet Assets**||||£2,435||4,155|
|**Funds of the Charity:**|||||||
|Unrestricted Income Funds|10,11||-304||0||
|Designated Income Funds|10,11||2,740||0||
|**Total funds**||||2,435||4,155|
The notes on pages 5 to 8 form an integral part of these financial statements. Approved by the board of trustees on 13[th] January 2024 and signed on its behalf.
## **Chair, Board of Trustees**
**---------------------------------------**
## **Teso Education Fund (TEF) Notes to Financial Statements - 31 March 2023**
## **1 Accounting Policies**
The principal accounting policies are summarised below. They have been applied consistently throughout the period.
## **a. Basis of Accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2015) and Charity Act 2011.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless stated in the relevant note (s) to these accounts.
## **b. Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the organisation.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
## **c. Income**
Income is included in the financial activities when the charity has entitlement to the income, any performance conditions attached to the item (s) of income have been met or are fully with in the control of the charity, there is sufficient certainty that receipts of the income is considered probable and the amount can be measured reliably. The specific policies are applied to particular categories of income:
- Donations and Grants are recognised in full when there is evidence of entitlement, receipt is probable and amount can be measured reliably.
- Membership and subscription fees are recognised when the organisation; the charity receives the gift.
- Donated goods and services are recognised when the charity becomes entitled, receipt is probable and the fair value or its value to the organisation can be measured reliably.
- Investment income is included when receivable
- Incoming resources from grants related to performance and certain deliverables are accounted for as the organisation becomes entitled to the consideration.
## **d. Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise the costs of fundraising events and JustGiving charges.
- Expenditure on charitable activities includes the costs of Bereavement Support, Health and Sports programmes undertaken to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
## **Teso Education Fund (TEF) Notes to Financial Statements - 31 March 2023**
All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs which relate specifically to a particular activity are allocated directly, others are apportioned between different activities on an appropriate basis e.g., time spent, floor area, per capita.
## **e. Foreign Exchange**
Assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All exchange differences arising are dealt with through the profit and loss account.
## **f). Tangible Fixed Assets and Depreciation**
Depreciation is provided at rates calculated to write off the cost of each asset over its estimated useful life as follows:
Computers 25%. Equipment 15%
## **g). Investment Income**
Investment Income consists of interest earned on bank deposits.
## **2 Analysis of Income**
|TEF Scholarship Fund
Fundraising
Community Participation
Charitable Activities
Cultural Activities
Other Donations|**Unrestricted**
**Funds**
**Designated**
**Funds**
**Total 2023 Total 2021**
£
£
£
£
280
5,571
5,851
2,425
360
5,153
5,513
225
0
9,227
9,227
0
0
314
314
0
0
205
205
0
0
5,045
5,045
0|**Unrestricted**
**Funds**
**Designated**
**Funds**
**Total 2023 Total 2021**
£
£
£
£
280
5,571
5,851
2,425
360
5,153
5,513
225
0
9,227
9,227
0
0
314
314
0
0
205
205
0
0
5,045
5,045
0|**Unrestricted**
**Funds**
**Designated**
**Funds**
**Total 2023 Total 2021**
£
£
£
£
280
5,571
5,851
2,425
360
5,153
5,513
225
0
9,227
9,227
0
0
314
314
0
0
205
205
0
0
5,045
5,045
0|**Unrestricted**
**Funds**
**Designated**
**Funds**
**Total 2023 Total 2021**
£
£
£
£
280
5,571
5,851
2,425
360
5,153
5,513
225
0
9,227
9,227
0
0
314
314
0
0
205
205
0
0
5,045
5,045
0|
|---|---|---|---|---|
||**640**|**25,514**|**26,154**|**2,650**|
## **Teso Education Fund (TEF) Notes to Financial Statements - 31 March 2023**
|**3**
**Analysis of Expenditure**
**ADMININSTRATION COSTS**
TEF Scholarship fund - fees
Fundraising
Community Participation
Administrative expenses
Accountancy fees
TEF Conferences|**UNRESTRICTED FUNDS**
**2023**
**DESIGNATED**
**FUNDS**
**Total**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**2021**
**£**
**£**
**£**
**£**
0
14,905
14,905
1,572
0
2,895
2,895
0
0
6,545
6,545
0
644
2,585
3,229
1,108
300
0
300
_0_
0
0
0
_0_|
|---|---|
||**944**
**26,930**
**27,874**
**2,680**|
- **4** Tangible assets
## **5 Employee costs**
Teso Education Fund had no employees (2023: none): However, the Charity had regular volunteers including the executive director, director of finance and administration, and director of culture and community.
## _**6**_ **Transactions with Trustees and Related Parties**
None of the trustees or any other volunteers of the Charity received any remuneration. No trustee expenses have been incurred {2023: nil).
No Trustee or related person related to the organisation had any personal interest in any contract or transaction entered into during the period.
## **7 Taxation**
As a charitable organisation, TEF is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable activities. No tax charges arose during the period.
## **8 Debtors**
|**btors**|||
|---|---|---|
|Other Debtors and Prepayments|**2023**
**£**
0
0|**2021**
**£**
0|
|||0|
## **TESO Education Fund (TEF) Notes to Financial Statements - 31 March 2023**
## _**9**_ **Creditors: amounts falling due within one year**
|**editors: amounts falling due within**|**one year**||
|---|---|---|
|Accountancy Fees
Other Creditors and accruals|**2023**
**£**
300
0
300|**2021**
**£**
0
0|
|||0|
## **10 Analysis of net assets between funds**
|**10 Analysis of net assets between funds**|**10 Analysis of net assets between funds**|**10 Analysis of net assets between funds**|**10 Analysis of net assets between funds**|**10 Analysis of net assets between funds**|
|---|---|---|---|---|
|**Unrestricted**
**Designated**
**Total**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Fixed Assets
0
0
0
Net current assets/ liabilities
-304
2,740
2,435
-304
2,740
2,435
11
Movement in funds
20-Oct 2021
Incoming
Outgoing
31-Mar
£
£
£
£
**Unrestricted Funds:**
TEF Scholarship Fund
230
280
0
510
Funds Appeal
6,510
360
0
6,870
Other Donations
2,311
0
0
2,311
Accountancy fees
0
0
-300
-300
Administrative expenses
-1,008
0
-644
-1,652
**Unrestricted Funds:**
**8,043**
**640**
**-944**
**7,739**
**DESIGNATED FUNDS**
TEF Scholarship Fund
523
5,571
-14,905
-8,811
Community Participation
0
9,227
-6,545
2,682
Charitable Activities
-3,242
314
0
-2,928
Fundraising
0
5,153
-2,895
2,258
Cultural activities
0
205
0
205
Other donations
0
5,045
0
5,045
Administrative Expenses
-1,169
0
-2,585
-3,754
**DESIGNATED FUNDS**
**-3,888**
**25,514**
**-26,930**
**-5,304**|||||
||**8,043**
**640**|**-944**
**7,739**|||
||523
5,571
0
9,227
-3,242
314
0
5,153
0
205
0
5,045
-1,169
0|-14,905
-8,811
-6,545
2,682
0
-2,928
-2,895
2,258
0
205
0
5,045
-2,585
-3,754|||
||**-3,888**
**25,514**|**-26,930**||**-5,304**|