Report of the Trustees and
Financial Statements
for the Year Ended 30 April 2024
For
Bees for Development
Registered No. 1198116

Bees for Development
Year ended 30" April 2024
Contents of thefin8n¢ial 5tatement5
Pages
Trustees, Annual Report
Ito6
Auditor's Report
7t09
Statement c>f FinancialActivities
10
Balan¢e Sheet
Statement r>tCash flows
Note5 to the AcGounts
13to21
Detailed Statement of Financi8lAttivities
22to24

Bees tor Development
Ygar 8nd8d 30, April 2024
The trusteespresent their report withthelinancial statements ofthe charitable Incorporatedorganisation ICIOI for
year ended 30 April 2024. The trustees have adopted the provisions ol Accou nting and Reporting by Charities".
Siaicmcr)tol Flccommcnilcd Praciicc applicablcto charitics prcparingtheiraccountsinaccordancewiththe Financiat
Reporting Standard applicable in the UK and Republi c of Ireland IFRS 1021 (effective l January 20191.
REFERENcEANDADMINISTF￿TlVE DETAILS
Registered No. 1198116
TRUSTEES
The following Tiustees served duringthe period..
S. Brown
C. Cooper
L. Fos51ez (appointed 19 January 20241
M. Krefta
S. Shaw
P. Smirh
R. Speiicei Iiesigned 11 July 20231
O. Hertz- (appointed 6 February 20241
G. Solomon- (appointed 6 February 20241
Overseas Tiustees
CHIEFEXECUTIVE OFFICER
Megan Denver
REGISTERED OFFICE
1 Angel Court
St. Mary Street
MONMOLITH
Gwent, NP25 3DB
BANKERS
CAF Bank
Barclays Bank
ACCOUNTANTS
Aubrey&CoAccountaney Limited 19 Church Street, Ross onwye HR9 5HN
AUDITORS
Thorne Widgery Accountancy Limite(J
Chartered Accountants
2Wyevale Elusiness Park
Hereford, HR4 78S
OBJECTIVESAND ACTIVITIES
Objective5 and aims
The objects of the CIO as set out in Its governing document are..
To promote sustainable development forthe ber)efit of the public by..
the relief of poverty and the Improvernent of the conditions of life In socially and economically disadvantaged
communities using habitat restoration and the craft of beekeeping., and
b. the promotion of sustainable means ol achievingeconomic growth and iegeneiation.
2. To advancethe educationolthe public in the science and craftof sustainable beekeeping and the role ol beesin
maintaining biodiversity.
Sustainable developtnent mear)sdevelopmeniwhich meetsthe needsof the presentwitnout cotnpromisingthe abilty
ot tuture generations to meet their own needs.

Bees for Developmènt
Year ended 30" April 2024
The CIO was incorporated on 2 March 2022. and for administrative reasons activity commenced late in the previous
accountingperiod,with activitylimited toreceipt of someincoming donations, a grant cippli¢atitrn, and transactions in
connection with th8 Bee Gard9n Party in lune 2023. As a result, there w38 limited charitable activity during the
cornparative period.
Shortly after the beginning of the financial yeaf. the CIO fully took over the activities of The Troy Trust IBees for
Development Trust, UK number 10788031.
PUBLIC BENEFIT
The Trustees have had regard to Charity CDmmi5sion guidance on public benefit in the determination of seivicesto
be provided and tlie identification of btneficiaries.
POLICYON SOCIALINVESTMENT
Most of the CIO'S activities are social investment, accordingto the CIO'S Objecis stated above.
POLICYON GRANTMAKING
The Clodoes not provide grants, it disburses fundstopartner organisations io undertake agreed work programmes ￿rith
our t)eneficiaries. The work Is managed by Proleci Managers In UK, and all or our work is evaluated Wlih the use ot
Monitoring and Evaluation Frameworks.
ACHIEVEMENTSAND PERFORMANCE
In 2023124 Beesfor Developrnent delivered project work in Ethiopia, Ghana, Uganda, UK, Zimbabwe and worldwide.
Ethiopia.. 392 peopleweretrained in beekeepingorgiven supportfor theirbeekeeping activities, 56,450treeseedlingsweie
planted in two sites, physical soil erosion activities were undertaken at two sites. 172 farmers enE3ged In Farmer Fie
Schoolabout integiated pesttnanagetnentllPMI and 145 extensionwork8rsRained newknowledge about IPM. 35Village
Savings and Loans Groups received support. Farmers, staff, co-operative leaders were trained in using a lool to aid the
establishrnent of a honey and wild-coffee trace8bility system In south west Ethiopia.
Ghana.. 1100 were trained in beekeeping or given su pportfor their beekeeping activities. Our Honeyand BeeswaxTrade
Centrewas cornpleted and puiehased8.5tons ofhoneycotnbfrom 154 beekeepers.generatingincomelor reinvestment
in the social enteiprise. Baseline surveyswere completed on forest cover and incidence of fire, against which we can
measurechanges goingforward. 20 FiieNanagementVolunteerTeamsweietrained InAfram plains. 200children in basic
schools in Ghana participat8d in activities of their beekeepingclubs, called Buzz Clubs, in 10 schools learning abcxjt
bees, beekeeping and nature con5eiv¥tion.
Uganda.. Uganda.. Atotalof615peopleweretrained in beekeepingand connected to a suslainablehoney market, incLuding
118 people with a disability IPWDS) and 48 Batwa people. A women's empowerment project supported 113 women
beekeepers using the GenderAction Learningsystem. ir)creasingwomen'svoice in the use of household Income. 70
youth, including 30 with a di5abilityweie tiained to make beekeepingequipment 3nd v3lue-added pioducts. Thirteen
TUNADOapiary mastersorbeekeepingextension off icers recewed additionaldis8bilityand gender inclusion tiaining.Two
apiary masters completed sign language training.
Zimbabwe.. 35women larmerswere trained in treesee(Jlingnurserypractice, forest protection and beekeeping,and V￿re
supportedwith their beekeepingenterprises. Fireguardswere prepared in theforest covering12000square meiers. Ore
farm gate honey kiosk was built. New project was developed and designed built on previous work, to start in 2024.
InforTnotion and awareness iaising
In 811 the countries where we work, and in UK, Bees for Development used the opportunity of World Bee Dayto raise
awareness about the imporiance ol bees and beekeeping. We offer an advice and enquiry servicè by email and anS￿r
questionslrom beekeepers indevelopingcountries. We shared newsand updatesvi8 our Bee Bulletinwhich is sent on a
quarierlybasisto 1500 readers. We maintainedouronline Resourcecentreofdigitalinfoimation materials on allaspects
of beekeepingindevelopment. Ourcolleagues inzimbabweare neiwDrkingwiih OlhersviaaWhatsAppgrovpon N8ture-
based Beekeeping.
Nèwwork
We laid the foundations for newwork in Mal8wi, Sierra Leone and In UK, to start inyear 2024125.
All of ourwork is closely monitored and is on track.

Bees for Development
Year ended 30" April 2024
FUNDRAISING
The CIO raises funds from individuals and corporate sponsors. In addition, it applies for appic>piiate granis from
Government and other bodies 10 fund specilic projecrwork Ifor examplethe training ol visually impaired beekeepersl.
Fundraisingactivities are planned and budgetedfor in advance. The costs incurred 8ncl the Income resultingfrtsm the
ctivity are tracked for comparison to budget to assess effectiveness and assist In the planning of future activities.
FINANCIAL REVIEW
FINANCIAL POSITION
Total incomingresourcèsfortheyear amounted to £1.8m12023.. £212kl.withtotaleKpenditUfe 01£1.04m 12023.. £57k),
resuliingin nei Income befoiè gain5 or 10s5es tsf £778k12023.. £155kl.
RESTRICTED FUNDS
Restricted funds held total É137k12023.. £13kl. These fLJnds are designated lor overseas projects as directed by the
terms and conditions of the giant piovider. These will be disbursed in line wth each project's budget agreement.
UNRESTRICTEDAND FREE RESERVES
In addition, unrestricted funds 01£794kl2023.. £142kl ale held in ieseive, 2llol which arelree rèserve5. Theseare funds
that have been iaised with a specific end use but ar8 not subject to donor contractuEI obligations.
Total net assets held at year end were in excess of the level mandated by the reserves policy, due In pait to timing of
grant receipts and the funding ol overseas partners. Tot31 reserves held are in Line with the r8seives policy and
committed fund ing. The trustees do not consider ihe levelof funds on hand ai ihe year-end to be a long-term Issue.
RESERVESPOLICY
Reserves adequate to Lover four months outEoinES are held as per our Reserves Policy. Monthly cost of sales a
overhead eypenditureisestimatedat É50kpm. Therefore, a minimum of É200kis tob9 held in reservo at anygiventim
to cover saL2ries and on costs. This is ¢onsiderÈd a suitsble period In which to idÈntify alternstive sources offunding
8ndlor review activity levels for sustainability.
INVESTMENT POLICY AND OBJECTIVES
Funcls are Iield on depLTrSit with the CIO'5 bankers 3nd invested in short term lixed interest insiiumenl5. Thi5 activityis
manaoed through the Flagstone cash deposit platform in accordance with the Investrllent Policy. The airn is to
maximise the return on cash ar the lowest possible riskto ihe CIO.
PRINCIPAL RISKS
The piincipal operating risks face(J bythe CIO are..
Staff retention and recruitment riskswhich are Inherent In a relatively small organisation
Loss of funding Income due tofinancial pressures experienced by key funders.
These risks are managed by working closely with ou r existing donors and seeking to develop new funding
relationships, following on the risk management stratogy previously adopted bythe predecessor organisation, tt
TroyTrust.
RISK MANAGEMENT
The Trustees have assessed the maioi risks to which the CIO Is exposed, In particular those related to the operations
and finances of the chariiy and are satisfied that systems £nd procedures are in place to mitigate our exptssuietot
major risks.
GOINGCONCERN
After m2kingappropri3teenquiries, the tru%iees have a reasonable expectation that the CIO has adequate resources
tocontinue Inoperationalemistencefortheforeseeablefuture. Forthis reason, they continuetoadoptthe goingconcern
basis in preparingthe financial statements. Further details regard ing the 8doption of the goinE concern b8SIS C8n be
found in the Accounting Pc>licies.

Bees for Development
Year ended 30, April 2024
PLANS FOR THE FUTURE
The CIO work5 very c105ely with pgrtner org8nisations who Implement our in-country workwith communities. These
ale.. Bees for D8v8Lopm8nt Ethiopia, Bees for Development Ghan8. The Keystone Foundation, Indlè, The Ugand
NationalApi¢ultureDeveLopment Organization ITUNADOI,WorkingforBees, Zimbabwe". thiswillcontinue, and we
may add new partner organisètions where feasible opportunitie5 8r15¢.
STRUCTURE.GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The CIO is governed by its Constitution and Is constituted a5 a Charitable InGorporaied Organisarion.
ORGANISATIONAL STRUCTURE
Decision-making responsibility rests with ihe Board. Day-io-day operational decisions which are within the agreed
operatingbudget are deleg8tedtothe appropriale membersolthe managementteamand theoutcomegfthese reported
at Board meetings. Matters of particular significancc arc discusscd at thc Board.
KEY MANAGEMENT REMUNERATION
Key management remunerat￿￿ is set by ieferencetothe employmont markei locally lor comparable positions. Where
recruitmentof senior personnelis required, advice istakenfrom recruitment consultants working inthe charity sector.
APPOINTMENT AND RECRUITMENTOFNEWTRUSTEES
The specific skills and experience required ol new and addiiionE*I Trusiees 3re monitored on an ongoing basis, and
recruiimeni is iargeied to, for example, relevant professional bodies, and nominees. There are no consiiiuiional
provisions concerningthe appointmentofTrustees. NewTrusteeswillmeetwithexistingTrusteesand staff lor brielir
on the activities of the CIO, the policies adopted and the partiCU￿r issues lacingthe CIO. Speeilic training needswll
be dealt with a5 they ar15e.
The key risks laced by ihe CIO, as identified above, are reviewed by rhe Tiustees on J regular basis, and appropwte
controls are in place to mitigate exposures.
CONNECTEDAND RELATED PARTIES
The CIO works voiy closely with partner organisations who implement our in-countryworkwith ¢ommunities.These
ale.. Bees for Development Ethiopia, Bee5 lor Development Gh3n8, The Keystone Foundation, India, The Uganda
Apiculture Development Organization ITUNADOI, Bees for Life, National Zimbabwe.. thiswill continue, and we may
add new partner orRanisation5 where feasible oopoitu nities arise.
FUNDRAISINGSTANDARDS INFORMATION
The CIO has established fundraisingstandard5 In Drdeito ensure all fundr8isingactivitiesof8ees for Developmentaie
ethical, transparent, and aligned with oui missionto support 5UStainable beekeepingpr8Cticesthat Improvelivelihoods
and conserve biodiversity.
Five key principles are followed. being mission alignment. transparencylaccountability, iespect loi don015, ethical
fundraising and impact reporting.
In addition, guidelines ale established OVEr the use of funds ra58ed, meaningful engagernent with donors, vetting of
paitneis, compliance with best practice and stewardship of donorllong term supporter relatlOn5hip5.
Fundraising standards are maintained by the training of all staff and volunteers involved in fundraising activities, a
periodic audit and evaluation of fundraising practices.
PLANSFOR FUTURE PERIODS
The Charitywill ¢ontinue to work with existing partners and to seek out new opportunities in new location5 where
beekeeping can l)clp pcoplc to Improvc thcir Iivcs. Participation In Intern8tional bcckccping cvcnts providcs an
important way to identify and develop these relationships.

Bees for Development
Yeai ended 30" April 2024
STATEMENTOFTRUSTEES, RESPONSIBILITIES IN RELATIONTOTHE FINANCIAL STATEMENTS
The tiustees are ie5POn5ible tor pieparingthe Repoit ot the Tiustees and the financial staternents in accordance with
pplicable law and United Kingdom Accounting Standards Iunited Kingdorn GenerallyAccepted Accounting Practicel.
The law applicableto charitable incorporated organisatiolls ICIOI in England and W8les, the Charities Act2011, Charty
(Accounts and Reports) Regulations 2008 and the piovisions ol the trust deed requires the trustees io prepare financial
statementsfor each linar)cial year which give a true an¢J fair view of the state ol affairs tsl the CIO and ol ihe incoming
resources and application ol iesources. including the income and expenditure. ol the CIO ftsi that peiitsd. In preparing
those financial st8tements, the trusiees are required to
select suitable accounting policies and then 8pply them consistently.,
observe the methods and principles In the Charity SORP.,
make judgements and estimates that are ieasonable and piudent.,
prepare the financialstatements on the going concern basis unless li is inappropriate to presume that they
will continue In business.
The trustees are responsit)lefor keeping proper accouniingrecordswhich disclosewifh reasonableaccur2cy212nyiime
the finJn¢ial p051tion of the CIO and to enable them to ensurethat thelinancial statements complywiththe CharitiesAct
2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisionsofthetrLJStdeed.They2re also responsibLe
foi safeguaidingthe assets ofthe CIO and hencefor 18kingieasonable stepsfoithe preventionand detectionoffraud arKI
other irregularities.
Approved by order of the board of trustees on.
-.1g.Fokruary..?.Q25........... and signed on its behalf by..
P L£JL
P Smith- Trustee

Bees for Development
Year ended 30, April 2024
Re
rt fthe Inde
end
tA ditors to theTru5t885
Opinion
We have aud ited the linancialstatementsol Bees for Development Ithe'charitable incorporated organisationlCIOI'I for
the year ended 30 April 2024which comprise the Statement of Fin3nCi81 Activities, the Balance Sheei and notes to the
financial statements. including8 summaryof significant accountingpolicie5.The financigl reportinglrameworkthat has
been applied In their preparation is applicable Law and U nited Kingdorn Accounting Standards (United Kingdcxr
Generally Accepted Accounting Practice).
In our opinion the financial statements..
give 8 true and lair view ol the state ol Ihe CIO'S affairs as al 30 April 2024 and ol ils incoming resources and
pplication of resources, forthe year then ended.,
have been properly prepared In accoidance with United Kingdom GenerallyAccepted Accounting Praotice,. and
have been prepared in accoi(tance with the requirements ofthe CharitiesAct 2011.
Ba$ls for opinron
We cond ucted ouraudit in accordancewith InternationalStandardsonAuditinglUKI IISAS IUKII and applicablc law. Our
responsibilities u ndeithose standards arefurtherdescribed in theAuditors' responsibilitiesfoithe auditofthe financial
statemenissectionol our report. We are independent of the CIO in accordan¢ewith the ethical iequirementsthat arc
relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stand£rd, 8nd Ihe provisions
available for small entities, in the circu mstances set out In the notes to the financial statements. and we have fulfilled
Qui othei ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained 15 sufficient and appropriate to provide a basis lor our opinion.
ConeLusions reiatingto going ¢on¢em
In auditingthe financial statements, we have concluded thatthe tlU5tee5' use of the going concern basis ot accounting
in the preparation of the finan¢ial st8tements Is appropriate.
Based on thewoik we have performed, we have not identified any materialunceiiainties ielatingto eventsor conditions
that, individuallyor collectively, maycastsignificant doubt onihe CIO'S abiliry 10 continue as a goingconcernfora peri (xl
ot at least twelve months from when the financial statements are authorised lor issue.
Our responsibilities and the responsibilities of the trustees with respect ro goingconcern Zre describ8d In the relevant
sections of this ieport.
Other information
The tIU5tee5 ale respon5iblefor the other Information. The olher information comprisesthe information included in the
Annual Repciit, other th3n thp financial 51atement5 and our Repori of the Independeni Audiiois tliereon.
Our opinion on the financial statements does not cover the other information and, except to the ext@nt otherwise
explicitly stated in our iepoit, we do not express any form of assur8nce conclusion thereon.
In connection with our audit of the financial statements. our responsibility isto read the other information and, in doing
so, consider whether the other inlormatior) is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially missiaied. If we identify such material inconsistcncies or
apparent materialmissraiements, we are required to determinewhètherthisgives risetoa material misstatement IntPe
fintsnc5al sttstements them8clvtts. If, bascd on the work we have performed, we conclude th31 Ihore is a material
misstatement ol this Other Information, we are reouired to report that fact. Wc havc nothingto report in this regard.
Matt8r5 on which we are required to report byexceptlon
We have nothing to report in respECt of the following matters where the Charities IAccounts and Reports) Regulations
2008 requires us to report to you If. In our opinion..
the information given in the Repori of Ihe Trustees is inconsistent In any material respect with the financial
statements., or
sufficicnt accouniing records havc not been kept", or
the financial sraremenis are not in agreement with the accouniing records and retLJrns', or
we have noi received all Ihe inftsitnation and explanatlOll5 we iequiie for our audit.

Bees for Development
Year ended 30, April 2024
Responsibilities of trustees
As expl8ined tnore fully in the Staternent of Trustees. Responsibilities, the trustees are iesponsible for the preparation
of Ihe financial statements which give a true and Yair view, and for such internal conirol as the trustees determine is
necessary to enable the prepar8tion of financial statements that are free from material misstatement. wheiher dueto
fraud or error.
In preparingthefinancial statements. thetrustees are responsible foi assessifigthe CIO'S ability to continue 2s 2 going
concern, disc1051ng, as applicable, matters related to going concein and using the going concern basis of accountir
unles5 the tru5tee5 either intend to liquidate the Cloor to cease operations. or have no realistic alternative butto d050.
Our responsibiliiies forthe audii of Ihe flnanclal siatements
We have been appointed as auditors under Section 144 01 the CharitiesAct 2011 and report in accordancewiththe Act
and relevant regulations made or having effect thereunder.
Our objectives ale to obtain ieasonable assurance about whether the financial statemenis as a whole are free from
ateiial misstaterllent. whether d ue tofiaud or error. and to Issue 8 Report of the Independent Auditois that include5
our opinion. Reasonable assurance Is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAS IUKI willalwaysdetect a mateii8lmisstatementwhen it exist5.Misstatementscan8risefrom fraud
or error and are considered maieri8lif, Individually or in the aggregate, they could reasonably be expecied Irjinlluence
the eeonomie deeisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting Irregulaiities, includingfraud is detailed below..
In Identifying and assessing risks of tnateiial misstatement in respect of irregu larilies, Includin8 fraud and non-
cOmp￿ance with laws and regulations, we considered the following..
the nature of the industry and sector, control enviionrnent and business performance
resultsof oureiiquiriesof managernent abotjt theirown Identification and asse55ment of the iisks ol irregulaiities
any matterswe identified having obtained and reviewed the policies and procedures ielatingto..
Identifying. evaluatingand cornplying witti 18w8 arid regulations and whether ihey were aware ot any instances ot
non-compliance
detectingand respondingtoihe risks ol fraud and whether ihey have knowledge of any actual, suspected oralleEed
fr8LJd
the Iniernal¢oniroLs established to mitigate risks of fraud or non-compliance with laws and regulations
the matters discussed among the audit eng3gement team and involving Internal specialists, regarding how and
where frgud might occur in the tin8nci81 statements and any potential indicators of fraLJd
A5 D result vf thE5E procedurE5 WE cvn5idered the VPPDrtunities that may exist within the organisation for fraud and
Identified the greatest potential for fiaud in incotne, which was raised as a key aud1t matter in the current year. In
ommon with all UK aud itswe are 8Lso reqLJired to perform specifie procedures to respond 10 Ihe risk of management
override.
We also obtained an understand ing of the leeal 2nd règuL8tory framework the orEanisation operates in. locusinE on
provisions of those laws and regulations that had a direct effect on the determination ol material amounts and
disclosures in the financial statements. The keys laws and regulations we considered in this context include rhe
CompaniesAct. Charities Act and Chariries SORP and tax legisLation.
In addition, we considered provisions of other laws 8nd ieguLations that do not have d direct effect on the financial
siatements but compliancewithwhich may befundamentaltothe organisation's abilitytooperate. These Include heaLth
and safety.
In 8ddition to the 8bove. our procedures to iespond to risks Identified include the following..
reviewingthefinancial statements disclosures and testingtosupportingdocument8tionto assess cornpliancewith
provisions of relevani laws and regulations described as having an effect in the financial statements
enquiring ot management concerning actual and potential Iitigatiorb claims

Bees for Development
Year ended 30" April 2024
performinganalytical procedures to identify any unusualor unexpected relationships that may indicate risks ol
material misstatements due to fraud
reading minuies oof meeiings of those charged with governsnce
in addressing the risk ol fraud through management override of controLs, testing the appropriateness of journal
entiies and other Bdjustments." assessing with their judgements made In m8kinE accountir)g estimares are
indieative of a potenrial bBs'. and ev31uatingthe businessrationale of any significant transactionsthat are unusual
or outside the r)ormalcourse of business.
We aLso communicated relevant laws and regulations and potential fraud risks to &ll engagement team members,
including Internal Specia￿SeS8nd remained alerttoany indit2tionsoffr3udor non-compliarice Wlthlawsand reRulatl(￿S
throughout the audit.
A furtherdescriptionof our responsibl￿tieS1O[the audit of thefinancial statements islocated on the Financial Reporting
Council's website 8t wmv.frc.org.uklauditorsiespoF)sibilities. This description forfms part ol our Report of the
Independent Auditors.
Use of oui report
This report is made solely to the CIO'S trustees, as a body, in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Ou r audit work has been undertaken so that we might state to the CIO'S trustees those
matterswe are Fequired tostate to theffl in an auditois, report and lor no other purpose. Tothe fullest extent permill
bylaw, we do not accept orassume responsibilitytoanyone otherthanthe CIO and the CIO'S trusteesasa body, for our
audit work. for this report. or lor the Dpinions we have formed.
Lkd
Thtsrne Widgeiy Accountancy Ltd
Chartered Accountants
Statutory Auditors
2 Wyevale Business Park
Kings Acie
Hereford
Herefordshire
HR4 7BS
Date..

Bees for Development
Year ended 30" ApriL 2024
Statemeni of FinancIaLAeii￿tieS
Unreslricted
Restricted
funds
lunds
Totalf unds
Totalfunds
2024
2024
2024
2023
Notes
Income and endowments
from..
Don8tions and legacies
Charitable activities
405,367
104,390
27,874
23,594
742,551
1,030
439,651
406,397
544,041
27,874
23,594
810,350
165,628
46,166
Other trading activities
Investments
135
Other
67,799
Total
1.303.776
508,480
1,812,256
211,929
Expendilure on-
Charitable activities
651,449
384,844
1,036.293
56,934
Total
651,449
384,844
1,036.293
56,934
Net gains on Investments
Net income
652,327
123,636
775,963
154,995
Transfors botwoon funds
Net Income before other
gainslllossesl
652,327
123,636
775,963
154,995
Othergains and loss•s
Net movement in funds
652,327
123,636
77S.963
154,995
Reconcitiation of funds=
Tot8lfunds brought forward
141,886
13,129
1 $4,995
Totalfunds carried forward
794.193
136.765
930.958
154,995
Contlnulng operètlons
All income and expenditure has arisen from continuing operations.

Bees for Development
Year ended 30" April 2024
Balance Sheet
ReKlsieied No. 1198116
2024
2023
Current assets
Debtors
25,588
170,000
1.000
Investments
Cash at bank and in hand
747.512
209.865
943,100
210,865
Creditors.. Amount falling due with1n one year
112,1421
155.8701
Net current assets
930.958
154,995
Total assets less current liabilities
930,958
154.995
Net assets excluding pension asset or liability
930,958
154.995
Total net •$$et$
930,958
154,995
Thefunds of the CIO
Restricted fund$
14
Restricted income funds
136,765
13,129
136,765
13,129
Unrestricted funds
Generalfunds
794, 193
141.866
794,193
141,866
Reserves
Totalfunds
930,958
154,995
The financial srarements were approved by ihe Board of Trustees and authorised for issue on
.1 glh.Ffikniuar.y. 2D25.. an¢ were signed on lis behalf by".
P. Smith Trustee

Bee5 for Development
Year ended 30" April 2024
2024
2023
Cash flows from operating activities
Net Income per Statement of Financial Activit18S
775,963
154,995
Adjustments for:
Dividends, Interesi and rents tiom investments
1878, 1191
11351
11,0001
55,870
Increase in trade and other receivables
124,5881
143,7281
IDecieasel/lncrease in tiade and other payables
Not ¢a$h lu$gd inllprovided by operating activit195
1190,4721
209,720
Cash flows Irom investing aetiviiies
Dividends. interest and rentsfro￿ Investtnent5
878,119
135
Net cash from Investlng a¢tlvitio$
878,119
135
Net cash fromfinancing activities
Net 4ncr8aso In cash and cash gquivaLonts
707,647
209.865
ash and cash equivalents atthe beginning otthe year
209,865
Cash and cash equivalents at the end of the year
917,512
209.865
Components of cash and ¢ash equivalent$
Cash and bank balances
917,512
209,865
917,512
209,865

Bees for Development
Year ended 30" April 2024
Notes t0￿efin￿e1aIstatern￿ts
A¢¢tsunting policies
Basis of preparation
The financial statements of the CIO, which 1$ 8 public benefit entiry under FRS 102, have been prepared In
accordance with the Ch2rities SORP IFRS 1021 'Accounting and Reporting by Charities= Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting siandard applicable In the VK and R¢publi¢ of Iicland IFRS 1021 leffectivc 1 January 20191. Financial
Rcportin¥ Standard 102'The Financial Reporting Standard applic8bte In the UK and Republic of Ireland, and the
CharitiesAct 201 l. The financial statements have been prepared Ljnder rhe historical cost convention, with the
exception of investmentswhich are included at market value, as modified by the revaluation of certain assets.
Going Concern
The trustees assess whether the use of going concern is appropri8te i.e. whether there are any material
unceitainties relEJtedto events or conditionsthat may Cast significant doubt on the ability of the CIO to continue
as a going concern. The trustees makethis assessment in respect of a period of at least one yearfrom the dale ot
authorisation for issue of the financial statements and have concluded that the CIO has adequate resources to
continuo in operational existence for the foresccablc future and there are no material uncertainties about tho
CIO'S abilityto continue as a going conccrn, thusthey continueto adopt the going conccrn basis of accciunting in
preparingthe financial statements.
Change in basis of accounting orto prèwous accounts
There has been no change to the accoLJnting policies (valuation rules and method of accounting) since last year
and no changcs have been made to accountsfor previous years.
Fund 8¢¢ountinE
Unrestricted
These are av3ilablc for usc at tho discretion of the irustoos in furtherance of the gcncral
objects of the CIO.
funds
Designated
Fund5
These are unie5tiicted funds earmarked by the rrusrees lor partieutar purposes.
RevaluatlOD.
funds
These are unresirictedlundswhich InclLJde a rev81u8tion reserve representingihe restatement
ol investment assets at their market values.
Restricted
These are avait2ble for use subject to restriction.￿ imposed by the donor or through term5 of gn
appeal,
funds

Bees for Development
Year ended 30, April 2024
Income
RecoEnitic>n ot Income is included in the Statement ol Fin2ncialAciivities ISOFAI when the CIO becomes
income
entitled to, and virtually certain to re¢eive, the income and the amount of the income can be
measured with sufficient reliability.
Income with
related
Where income has related expenditure the income and reLaied expenditure is reported gross in
the SOFA.
expen(Jiture
Don2tionsand Voluntaiy Income receivedbyw2yofgr2nts, donationsand gifts Is Included inthethe StsFAwhen
leEseies
ieceivable and onlywhenthe CIO h85 unconditional entitletnent to the Ineome.
Tax reclaimson Income from tax reclaims is included in ihe SOFA at the same timeas thegiftldonation towhich
donations and
it relates.
gifts
Donated
These are only Included In Income (with an equivalent amount In expendituielwherethe benefit
to the CIO is reason8bly quantifiable. measurable and material.
services and
Volunteer help The value ot any volunteei help ieceiv8d Is not included in the accounts.
Investment
income
This Is Included In the accounts when rece1vable.
G31nslllos%esl
on revaluation ol
fixed assets
This includÈs any gain or loss resultingfrom revaluinginvestmentstom8rket Vslueai the end of
the year.
Gainslllossesl This includes any gain or loss on the sale of investments.
on Inve5trnent
assets
Expenditure
Recognition of
expenditu re
Expenditu re is recognised on an a¢cruals basis. Expenditure includes any VATwhich cannot be
lully recovered, ar)d Is reporied as parr ol Ihe expenditure to which it relates.
Expenditure on
raising funds
These comprise the cost5 3ssociatedwith8ttrachngvoluntary incotne,fundraisingtr8dingcosts
and Investment management costs.
Expenditurc on
¢harit8ble
These comprise the costs Incurred by the CIO In the delivery of its act1V1t1cs serviccs In thc
furLherance ol ils objecis, includiiigthe making of grants and govern8nee costs.
Governance
These Include those costs associated with meeting the constitution8l and st8tutory
requirement5 olthe CIO, includingany auditlindependent examinationlees. costs linked to the
strategic management of the CIO, together wilh a share of oiher administration costs.
costs
Other
expenditure
These are support costs not allocated to a particular ¢lCtivity.

Bees lor Development
Year ended 30, April 2024
Taxatlon
The CIO is exernpt from tax on its charitable activities.
Tangible flxed assets
The CIO has a capitalisation policy of 2S,OOOforTan8ible fixed asset5.
Trade and other debtors
Trade and other debtors are recognised at the seitlement amount due after any trade disco)unt offered.
Piepayments ar8 vglued gt th9 arnount prepaid net ol any irade discounts due.
¢a$h and cash equlvalents
Cash and cash equivalent5 comprise cash at bank and on hand, dem8nd deposits with banks and other short-
term highly liquid Investments with original maturities ol three months or less and b8nk overdrafts. In the
5tatementoffinanci31posiiion, bankoverdraftsareshown withinborrowingsorcurrent liabilities. In rhe Statemert
of Cash Flows. ¢ash and cash equivalenis are shown net of bank overdrafts th8t are repayable on demand and
form an Integial part of the cornpany's cash management.
Trade and other creditor5
Short term ¢reditorsaremea$ured atthe transaction price. Other creditorsand provisions are reoognised where
the CIO has a present obtigation resutitngfrom a past event that will probably result in the tian5fei of fund5 to
third party and the amount due to settle the obligation can be measured or estimated retsably. Creditors arKI
provisions are normally recognised at their settlement amount after allc>wingfor any tiade d15courits due.
Research and development
Expenditure on research and developmeni iswritien off in the year in which it is incurred.
Foreign cuyiencies
Monetary assets and liabilities denominated in currencies othei than th8 functional Currency of the CIO are
translated at the rates of exchange prevailing at the end ol the repoiting peiiod.
Transactions In currencies other than the functional Curiency of the CIO are recorded at the rate of exchange on
the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net incomelexpendituie.
Leased assets
Where the CIO enters into a lease which entails taking substantially all the risks and rewards of ownership of an
asset, the lease istreated as a finance lease.
Leases which donot transfer substantially allthe risks and rewards of owneishipto CIO ale classificd gs operating
leases.
Assets held underfinance leases are Initially recognised as assets ol the CIO at their fair value2t the Inception of
the lease or, if lower, atthe presentvalue of the minimum lease payments. The correspondingliabilitytothe lessor
is included in the balance Sheet date as a finance lease obligation. Lease payments are apportioned between
finance expensesand reduction ofthe lease obligation so asto achieve a constant late of Interestonthe remaining
balance of the liability. Finance expenses are recognised immediaiely, unless they are directly atliibutable to
qualifying 8ssets, In which case they are capitalised In accordance with the CIO'S policy on borrowing costs.
Assets held under finance leases are depreciated in the same w(iy as owned assers.
Operating lease psyments are recognised as an expense on a straight-line basis over the lease term. In the evenr
that le3se Incentivesare received toentei Into operatingleases. such incentives are recognised as a Ilability. The
sggregate benefit of Incentives Is recognised as a reduction of rental expense on a straight-line basis.

Bees for Development
Ygar ended 30" April 2024
Pension costs
The Clooperatesa defined contributionplanlor itsemployees.Adefined contribution plan 15 a pension planunder
which the CIO pays fixed coniribuiionsinioa separateeniity. Oncethe coniributions have been paid the CIO has
no further payments obligations. The contributions are recognised as expenses when they fall due. Amounrs not
paid are shown in accruaLs in the b818nc8 sheet. The 8ssets of the plan are held separately from the CIO in
independently administered funds.
Receipt of donated goods, facilities and s8rvic85
AU donated goods, facilities and services received 8re reoognised within Incorning resources and expenditure at
an estimate of the value tothe CIO.
2 Statement of FinancialActivities- prior year
Unrestricted
funds
Restricted
funds
Total
funds
2023
2023
2023
Income and endowments from..
Donations and legacies
Chariiatile aciivilies
182,333
11,166
135
3,295
35,000
165,628
46,166
135
Investments
Total
173,634
38,295
211,929
Expenditure on:
Charitable activiiies
31.768
25,166
56,934
Total
31.768
25.166
56,934
Net In¢ome
141,866
13,129
154,995
Net income before other
gainslllossesl
141,866
13,129
154,995
Othergains an(1 losses-
Net movement in funds
141,866
13,129
154,995
Reconciliation of funds:
Toialf unds carried lotward
141.866
13,129
154,995
3 Income from donations and Legaeies
Unrestricted
Restricted
TotaL
Toial
2024
2023
Individual donation5
218,053
30
218,083
9,654
Company donation5
169,529
1,000
170,529
155,974
Gift aid
17,785
17.785
405,367
1,030
406,397
165.628

Bees for Development
Year ended 30, April 2024
4 Incomefrom charitable activities
Unrestricte(I
Restrieted
Total
Total
2024
2023
Courses
11,616
11,616
375
Fundraising events
Granis
80,374
80,374
10,791
439,651
439,651
35,000
C8mp8Igns
12,400
12,400
104,390
439,651
544,041
46,166
S Incomefrom othertrading activities
Unrestricted
Total
Toial
2024
2023
Sales of Merchandise
1,278
1,278
Sales ol Bfd journal
206
206
Consulting lee income
26,390
26,390
27,874
27,874
6 Incomefiom invèstment5
Unrestrictèd
Total
Total
2024
2023
Bank Interest
23.594
23,594
135
23,594
23,594
135
7 Othei income
Unrestricted
Restricted
Total
Total
2024
2023
Other Income
350
350
Transfer from The TrDy
Trust
742,201
67.799
810,000
742,551
67,799
810,350
Shortly gfterthe beginning of the financial year, the CIO fullytook over the activities of The Troy Tiust (Bees for
DevelopmentTrust, UK CIO number 10788031. The assets and liabilities otthe TroyTrustweretransteired tothe
CIO at thistime.

Bees for Development
Y$ar ended 30" April 2024
8 Expenditure on Charitable activities
Unrestricted
Reslrictèd
Total
Total
2024
2023
Project expenditure
Event and ctsuise expenses
Advertising and marketing
costs
186,964
384.844
571.808
15,160
60,315
60,315
22,062
8.149
8,149
Bfd Journalexpense5
1,605
1,605
Employee costs
Motor and travel costs
351,371
351,371
14,433
4,023
4,023
Premises costs
5,638
5,638
400
General administrative costs
16,926
16,926
559
Legal and professional costs
16,458
16,458
4,320
651.449
384,844
1,036,293
56,934
9 Net income beforetransfers
2024
2023
This is stated after charging..
Auditors, remuneration Independent
Examiner's lee
6.600
350
10 Staft costs
2024
2023
Salaries and wages
Socialsecuiity costs
Pension costs
310,693
25,325
14,162
4,386
271
340,404
14.433
One employee received remuneration in ihe year ol between £80.000- £90.000. All other employees
received remuneration lower than £60.000 for ihe ye8r.
The average headcount duringthe year was as follows..
2024
2023
Number
Number
The CIO offers and enrols all eligible employees into an auto enrolment pension scherne operated by
NEST and complies with pension regulaior auto enrolmeni obligations.
Key management personnel
The key management perstsnnel of the CIO is considered to be the trustees and the Chief Executive
Officer. The total amount of empltsyee benefits (including employer pension contributions) received by
key management personnelfoi their seivices ttsthe CIOwas £81,250.

Bees for Development
Year ended 30" April 2024
Trustees Remuneration and expenses
i. There were no irustees, remuneraiion or other L>enefits for the year ended 30 April 2024 nor for the year
ended 30 April 2023.
ii. Travel 3nd subsistence totallinll £ 993 for one trustee was paid ftsr bythe CIO.
11 Debtors
2024
2023
orher debtors
14,258
11,330
1,000
Prepayments and accrued income
25,588
1,000
12 Current a55et investments
2024
2023
Short term Cash investment5
170,000
170000
13 Creditors:
amountsfalling due within one year
2024
2023
Trade creditors
1,465
46,360
Other taxes and social security
Other creditors
2,408
1,071
4,402
Accruals
9.606
2,700

Bee$ for Development
Year ended 30" April 2024
14 Movement in funds
Incoming
resources
At30
Iln¢luding
A11May
other
2023 galnslLossesl
Resources
expended
April
2024
Restricted funds:
Restrlcted Ineomefunds-
Ghana Beekeepers Restore
Forests
9,840
105.000
1102,3141
12,526
Uganda Bee5 foi Batwa11
Ukraine Beekeepers
Elhiopia More Bees
Ethiopia TRANSFORM
Ghana Bee The Voice
2,764
525
700
13,4641
1,205
119,128
94,590
26,1S7
20,063
1,730
47,178
15,574
17.993
20,063
171,9501
179,0161
18.1741
U K Bees ol Monmouthshiie Other
Pfojects in Ethiopi3, Ghana and
ughanda and UK
141,627
1119,9261
21.701
rotal
13,129
508.480
1384,8441 136.765
Unrestricted funds:
General funds
141,866
1.303.776
1651,4491 794.193
Toialfunds
1 81225
1 036 293
Puiposesand restrictions In reL8tiontothefunds.' Restricted
funds..
Ghana Beekeepers Restore
Forests
Transforming and enr1ching a forest landscape in Alram PLains by reducing
fires and charcoal making and by Increasing nature-based beekeeping.
Uganda Bees for Batwall
Enabling Batwa people to earn moneythrough selling honeyand beeswax and
to enhance their socialstanding within their communitiès.
We raised funds to support beekeepers in Ukraine In 2022
We raised funds to support beekeeper5 In Ukraine In 2022
Traceable natural products for forest management
Training women In Ghana as protessional beekeepers
Recording bee species across Monmouthshire VC
To provide proiectsthat meet ihe aims and objectives of the CIO
Ukr2ine Beekeepers
Ethiopia More Bees
Ethiopia TRANSFORM
Ghana Bee The Voice
UK Bees ot Monmouthshire
Other projects in Eihiopia.
Ghana and UKhanda and UK
20

BÈÈS for Development
Year ended 30, April 2024
15 Analysis of net assets between fund$
Unrestrieied
Rgstricted
tund5
funds
Total
Net current sssets
774,196
156,762
930.958
16 Reconciliation of net debt
A130
At1M8y
2023
April
2024
Cash flows
Cash an(1 cash equivalents
209,865
209,865
537.647
537,647
747,512
747,512
Nei debt
209 865
537 647
747512
17 Commitments
Operatingiease commitmtrnts
The CIO hold5 a peppercorn lease for the premises it occupies wilh BID Bee Shop Ltd. There is no financial
commitment In reLation to this lease.
Pension commitments
2024
2023
The pension cost charge tothe CIO
amounted lo..
86
18 Related PartyTransactions
The TroyTrust, En unincorpor3tedch8rityll 07B8031 that hascommon Trustees. tiansferredit'sactiwtiesinto Bees
lor Developments. A transfer of £810,000 was made Into the CIO In the relation of transferred of assets.
BfD Bee Shop Ltd, a ￿Mited company whose sole directors is N Br3dbe8r, who was CEO duringthe period and
founder ol BID. During the year expenditure of £99,150 paid by the BfD Bee Shop Ltd on behalf of Bees for
Development and was recharged to Ihe CIO. Income of £17.510 was collected by BfD Bee Shop on behalf of the
CIO and recharged to them. At the year end È232 was due to BfD Beo Shop Lld.
Bees for Development have 8 nLJmber of close organisations th8t they support via in country work with
communities. P8yments to the following org8n15aiions have been mpcle in the year".
Bees for Development Ghans
Bees lor Development Ethiopia
The Uganda NaiionalApicultu re Development Organisation
Workingfor Bpe.4 (Zimbabwel
Keystone Foundation Ilndial