REGISTERED CHARITY NUMBEIL. 1198116 Re rt of tre Trustees and EiDallcial SL4LerrEJ)ts f Year Ended 30 A ril 2025 Bees for Develo rrent cio TIK)me WidgeryAccwntancy Ltd Chartered Accountants Statutory Auditor5 2 Wyevaie Business Pa Kings Acre Hereford Herefordshi HR4 7BS
s fLP.eveloNnenl cio Contents of the Fir[1?( Staternents Page Rerx)rt of the Trus 1 to 6 Report of the IndeFendent Authtors 7 to 10 Staternent of FinarKial ActivTlie5 Baiante set 12 Cash Fi(w StateTnent 13 )tes to the Cash Flow Statement 14 li)te5 to the Flnanclal Ststerrts 15 to 24 Detsiied Staterrent of FInala1 Actiwtie5 25 to 26
Bees for Develo enl cio rt of Tru5tee5 for ttrE Year E[e 30 A .1 2025 The tsustees wesent their rert wth financial 5tatetnents of the charity for the year ended 30 April 2025. The tru5tee5 have ad)pted provisions of Attountiw and Rèrx)rting by Charities.. Statement of Recom1rded Practice aprAicabie to chaNties preparing their accounts in aCcOrdae with the FinatKial Retxyting Standard applicable in the UK and Republic of Ilat5 IFRS 1021 (effective l JaNary 20191. OBJECTIVES AND AcnvrriES Objective5 and alms The objects of the CIO as set out in its goveming document are.. To promote sustalnable developnnt for the berflt of publlc by.. the relief of tY and the irnprovement of the condition5 of life in Sla[[Y and &rommicalLy dalfvanta8ed communities usir& habitat restoration and craft of beekeepSng' and the womtion of sUStainaNe mears of achlevirv4 ecoTh)mt gmwth and regeneration. To adVae the edwtion of the wblic in the scleKe and craft of jaInable beekeeping and le of bee5 in fflalntaln1r bi<Mliver5ity. Sustainable dvNelOnent devdorxneni whlch meets the needs of the prent comprornlslr the ability of future generations to meet t1r own need5. The CIO was incorp)rated on Z March 2022. for adrnini5tratiYe reasorts acti¥rity commeKed late in the 2022123 accounUr tEriod. wth actiwty limTted to recelpi of incomitY4 donatiOn5, a Brant application, and trartsactio in connection with Bee Gankn Party in June 2023. As a result, there was limited charitable activity durinB tke Z022123 finatKial year. SFK)rtly after tlE tkginnirtr4 of the 2023124 fInarla1 year, the CIO fully 0k over tIE aciiwties of The Troy Trust (Bee5 for tWeiopmentTnJrt, UK Charity numtEr 10788031. Publfc benefit The Tru5tee5 have had regard to Chakfjty Commlsslon 8uldarte on public be[fil in the determiThation of semces to proided the idenlification of befICiaes. They are of the OnIOn that Charft¥s ber*ficlarie5 ffleet tl Charfty Cornmission requirerrents, and that the swvices prOthd are delivered in accordatKe appropriate charitable objectives. Social investments Alost of CIUS activTlie5 are SI13[ investlt, according to the CIO'S Objects stated aLy)ve. Grantmaklng The CIO LkJe5 tt pde grants, it distr5eS funds to partr organi5allon5 to undertake agreed work prograrnrnes th cr berficiae$. work is managed by Project manage in UK. and all of our work is evalua wlth ihe use of Monitoring ar Evaluation Framework5. Page 1
Bee5 for Develo cio rt of the Truse5 for Year EtOed 30 A ril 2025 ACHIEVEMEtrifs AND PERFORhlANCE Charftable activlties In 2024125 Bees for D2veIoprTTrt continued work in Ethiopla, Ghana, Intha, Uganda. UK and Zimbabwe as hil as Sta tEw work in mala and Slerra Leore. CIO delivered impact across all 6 pillars of our Peekeer tralnfing: Al tore of the C1175 W{k 15 natu.bo5ed beekeeplng tralnlng. Workin8 hthin cotnmunities, it teaches wple to make I3[ style bee hives and set up ap1artes. 11 give5 tIErn the skil& and confiderre to attTrct bee5 to coionise hive5. trj care for neY bees and to harvest high quality how and bwa%. In m051 recent calendar year, 1.074 trEekeets across 7 countthe5 were Irdined. Support rnarginali5ed groups: Ecommic emrKiwemient for women, rnawginali5ed group5 and people lirI¥ Wth disability is hlgh prfjority for the CIO, art it 15 work5 to break down barriers that prevent these 8roups from earning a sustainable Incon through beekeeping. In the tTKty5t rent calendar year. in Uganth, 48 members of the Batsva community were traird in to make and manage their own hives. Ethcation.. By lIVeI our training in 5chL¥)is universities. [ornOte sustainable Keep1n8 and enwrontnental 5teward5hip among young rEople. Buzz Clyts offer the opwrtunity for childTeTr in Ghana to learn atrKKJt and other pollinètlY5, tFE role of iEe5 in fcod producti, and biodiversity conservation as well as beekeeplng. In tlE tTWJ51 recent calendar year, the CIO wpp¥xLed 11 PAJZZ Club5. reachi 330 swdents. 8iodiversity suprx)rt: As teekeeping supw)rts people flnIallY, kee[KIS are rrK)tivated to protect and maintsin rtch natural reXr£e5, ilUdI precloLS troplcal forests and irasslands, and Otr b11verse habitats. on which tres de[. In Zimbabwe, tre CIO, through Its partner5 Working for Bee5. have LEen engaging wilh ltxal beekeepirg communltle5, to lId fire breaks around theTr apiaries and in forest. In the rn0 recent talerK1ar year, 60 worren were trained in fire rnanagefflent, arKJ 12,CO) Square fflete of fireguard5 were created to protect apiaries and forest sltes. In Ethlopla, 117 famr$ learrd aLul Integrated rnanagement IIPMI and testicide usage was reduced by er 5Q¥ in four major crop tw in the CIO'S IPM trial. Routes to market.. CIO conlinue5 lo work c105elywith beekeep after their trainirq. Linking them to rnarkets for t1r produce. SiKe its establishment in 2022. HDW Beeswax Trade Centre has not only irnprtived iOrne for beekeeper5 but ha5 abo strengtkened the tral horey val-Cha1n, ensuring that high-quality Ghanaian trK)ney reache5 con5urner5. In 2024, the Honey arKJ Beeswax Trade Centre bought 11,902.2kg of horycornb - an increase of 374% sie 2022. T paid out GHS 297,5551£16,(h5.801 to 1(h beekeepers. Capacity trAJilding.' Because the CIO canrK)t be aCve In every Ictatfon, essenual to promote knowledge and under5tandin8 of sustainable apiculture. This is achieved by sharing infomiation, ]Id1 capaclty, and StngtInI[r connertiorts be NG05 and beekeets Worldwde tlou8h CIO'5 netWOTk. The CIO has an online Resource Centre has 1,132 registered users and contalrs 2,809 artfcles on all aspects of keeping fn)m across tkt glotrt. most of whlch are unirye to our slte. Fundralslng actlvStles The CIO raise5 funds frtyn inthalS arK4 c¢xtvate 5tK)n50r5. In addition, it applies for appropriate grants from Goverrrfnent aNI other bodie5 to fund specific project work Ifor example tre tralnlng of wgjally lrnpaired bkeeperS1. Fundraisi actiwties are plarned arkl budgeted for in ?thaTe. The costs Irurred and the Incon resultlrs fmm thè activity are tracked for comparison to budget to assess effectiveness and tsslst In the planning of future artItIeS. Page 2
rnent
cio
Re
of the Tru
lor Year EThJed 30 A
12025
FINANCIAL REVIEW
Financial p05itlon
Total IOrning resources for ar arnted to £1.1m 12024.. £1.8ml. total exp@7tre of £1.17m 12024=
E1.04rn1, regultlng in net expenditure before gains or losses of £48k12024: income £T16kl.
Re5Lricted fund5 IEld total £234k 12024: £137kl. These funds are L&ignated for overseas projects as dlrected by the
tenns and condltion5 of tlE grant prowder. These WLI dislEed in li with each project's budget agreement.
Unrestricted and Free Reserve_s
In addition, unre5trfcted fund5 of £649k 12024: £794kl are held in resetve, all of which are free reserves. Tlw are
fur that have raised wlth a sredflt end use but are not subject to donor conLractual obii8ation5.
Total net assets held at year end were in excess of level mandated by reserves rolicy, due in part to timing of
grani receipts funthr4 of overseas partners. Total reseNes held are in line WTth tlE re5erve5 PK)licy and
committed fundi. trustee5 do not cortsider level of fdS on hand at tkt year-end to be a long-tem) issue,
and a corsi
Bees for Develo
Re rt of tIE Trustees
for the Year Ended 30 A
12025
STRLICTURE, GOVERNANCE AND hlANAGEMEt
Organisatksnal structure
Decision.makinq rponsibl¢lty rests the Board. Day.to.day operatlonal deasiorts whTch are wthln the agreed
Operati ldget are delegated to the appropriate nmbers of tIE management team arKI tl (yJtcowne of these
rerA)rted at Board tIng$. Maiter5 of particular signifiCae are di5CUssed at Board.
Inductton and tralnlng of new trustees
New Trustees meet e5t7¥ Tru5tee5 and Staff for brfef1 on the activitie5 of the CIO, tIE wJlicie5 a(knpted
and the particular i5yJe5 faCTr the CIO. Slf training nee<ls be dealt as arise.
Key management remuneratlon
Key rnanagemenl remuneralion 15 Set by referee to the employment market l¢xally for cornparabie rA)sitior. Where
recrultment of senior per50Mei is required, adwce is taken from recnfitment Consulnts Worki in the charfty
sector.
Connected and Related parties
The CIO works very c105ely th parttEr organi5atiors wh) Trnplerrent our in-country wot1( ¥th comrnunitTe5. These
are.. Bee5 for Development Ethiopia, Bees for Development Ghana, Keystone Foundation, India, The Uganda
Aplculture Devetoprnent Organization ITUNADOI. Bees for Life, Natior01 Zimbabwe.. this 11 conknnue. and we may
add partr organ15a0ns wltre feasible oNthunitie5 arise.
R15k management
The TnJ5tees have assessed mdjor risks to whlch CIO Is exptrsed, In particular those related to the operatior
and finae$ of the charity and are satisfied that sytterns and pr(Kedure5 are in place to mitigate our exrx)sure to ihe
major tfjsks.
Prlnclpal Rtsk5
The principal operatin8 dsks faced by the CIO are..
Staff retention and recruitment risks which are Inherent in a relatively small organisation
L055 of furKling irKorne due to finarKial pressures extErierKed by key funders.TFEse rtsks are managed by
working cL05ely th our e5t1[Y4 domrs and Seeking to develop new fundTng relatior6hips, foilovAng on t
risk managernent strategy prQu$1Y adopted by pred*essor or8anisatl¢)n, Troy Tru5l.
Fundraising Standard5 Informatlon
The CIO has established fundraising standards in order to enyjre all fUlraISi[ actiwtie5 of Bee5 for e10prreTrt are
ethical. transparent. and all8 wth our mission to sUprt 5UStainable Weeping practice5 that imprDve
liYelilKX)d5 and corwve biodiversity. Safeguar
Bee5 for Develo rnent rt of the Trustees for Year Ended 30 A ri1225 Prlndpal address 1 ge1 Court St. Maws Street MONAIOUTH P•A)nmoutrtshire NP25 3DB C Cooper P Smith OHet G Soiorrnn L Fossiez SB S Shaw M Krefta N.B. O Hertz & G Solornon are overseas trustees. Chlef Ex¢¢utlve laegan Denver Iresigred 31 May 20251 Hannah Wts)d lappoiTrted 3 jur 20251 udltors Thorr Widgery ACCjnta Lt(I Chartered kcountants ststutory Audito 2 Wyevale Business Park Kings Ac Hereford Herelord5hire HR4 7BS Bank• CAF Bank Ltd 25 KITh Hill Avenu2 Kin85 Hill. West mall1r, 19 4JQ Bardays Bank UK PLC 1 Churchill Place. Lonth)n, E14 5RB STATEME1 OF TRUSTEES, RESPONSIBIUTIES The trustees are resportsible for PreParig the Rerx)rt of and the flnatKial 5cernents accordance applKabie law ar Unitsd Klwth)wn Accounting Standard5 Iunited Kingdom Gerrally Accepted AccrAInti Practitrl- Page 5
Bees for Develo rnent CIO Re rt of Trustees for the Year Ended 30 ri12025 ATEMElff OF TRvsfEES' RE5PQN51BILITIES- COnnUed The law applicable to charities in England and WaLe5, the Charities Art 2011, Chathty IAcccxJnts and Rew)rtsl RegulatiDn$ 2U)8 ar the pSlo5 of trust deed re¢wlres ttlJ5lee5 to prepare financial statements for each financial year which give a tn and fa1r wew of the State of affairs of the charity and of t1 incorn1r resources aryj application of rerCes, irKLUdI the irOMe and expe[lture, of the charity for that pericJ. In pEparing those flnanaal statements, tsvstees a require(I to select 5table accountlng p)Ilcles and then apply them cOn5tent(y- ctheNe the methods principles in Chadty SORP. make judgernents and estimates that are reasonable arKJ pru¢*nt' stste wheiker appllcabie accounting standard5 have teen followed, subject to any rnaterial departures dlsc105ed explai in flnanclal siaternents.. epare the financial statements on going coKem basis urles5 it is inappropriate to pre5urne that charity 11 continue in xIs1[s5. The tnJ5tee5 are re5W>ll5ible for keeping proper accounting record5 which disclose reasonable accuracy at ary time flnanaal wition of the charity and to enable to etwJre that ttr finarKial statements comply the Charities Act 2011, Charity IAccounts and Rewrt51 ulatIO[ 2Q)8 arKI prowsions of trust deed. TW are a150 resrGIble for safeguarding the assets of the charity and herKe for taking reasonable steps for the prevention and detectk)n of fraud ad otlEr irre8uiaritie5. Approved by order of the board of trus on... and signed on Irs behalf by.. S Shaw . Trustee Page 6
Re rt of Inde[EndentAltors to the TrUee5 of Bee5 for Develo ment CIO Opinion We have audited financial ststements of Bees for Development Icioi It chariw) for the year ended 30 Aptil 2025 thich cotnpri5e StateEnt of Fina31 Actiwtie5, the Balance SIEet, the Ch FLOW Staternent and rK)tes to the flnancial staterrEnts. Iludi[l a surnmary of significant accujnting rMJlicies. financial reportiTr4 framework that has applied in their preparation i5 applicable law arKJ United Kingthm Accountin8 Standard5 Iunited Kingdom GerErally Accepted Accountfjr Prdcficel. In our opinion the finarDal statements- ve a and falr view of state of the charitys affairs as al 30 th12025 and of its irKoming resour a applicatlon of resource5. fcf the year then eThd. have been prO[riY wepared1n accordance wlh United Kingdom Generally Accepted Accounting PractKe', and have been prepared in acCOrdae with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our awlit in accordance wlth Intematlonal starards on Au(litill8 IUKI IISAS IUKII and applicable law. Our resp)nsibilitie5 unckr those standard5 are further described in the Auditors. responsibilities for autht of the flnancial statements section of our rep)rt. We are IndeInt of the charity in accordance ethical reoulrements that are relevant to our audir of the financial ttaDents In tt UK, Includlng FRC'5 Ethical Standard, and we have fulfilled our other ethical re5por6ibilities in aCcOrdae these requirements. We lieVe that the audll edere we have obtsined is suffKient and apwoprfate to pmwde a ba5 for our opinion. ConclLsfons relatlng to coeM In auditing the fInaaL staternents. we have concluded thai the tru5tees' of golr¢ coKem basls of accounting in the preparation of ts firTal staternents 15 appropriate. Based on the wort( we have kErforTned, we have mt identified any materfal ueaIntIes relating io events or coréitiors that, indiduallY or collectively, may cast signilTcant doubt on the Charits ability to continue as a going cor(em for a FetTh)d of at Lea twelve [tI frorn when the finaKial statents are authorised for Issue. Our respo17b11lt)es arKJ the respor6ibiLities of the tswsiees hth respect to gtslng concern are de5criEed in the relevant tior6 of this ret¥Jt. Other Infornt1D The tru5tee5 are re5rthsible for other inf£¥mation. The other inforrnation comprises the Informarion IrKluded in tIE AnrAJal Rerxjrt, otrr than the financial 5tsternents and our Rert of Independeni Audlt015 thereon. Our 070n on finala[ statements does Th)t cover the other inforrnalion and, except to the extent otrse explicitly stated in rep)rt, we do not express any forrn of aSSUrae conclusion thereon. In Con[ctIon with our audlt of the financial ststerrents, our re5[7b)lIty Is to read the other infortnation and, in dolrrg 50, consider whether other Informatlon 15 rnaterially inconsistent wth financial staterrents or our knobledge oblEd irb the audit or otherwise apwars to LE rnaterially Fnis5tated. If we identify sh material lnc0n5i5tec7e5 or apparent material mlsrtaiernenf5, we are requi to determine whether this 8ives rise to a Material mlsstatetnent in the financial statements themselves. If, based on the work we have forrned. we CLde that tlwe is a material mlsstaternt of this other lThftsmwtioTh. we are require(J to retK•rt that fact. We have Th)ihin8 to rew>rt in this regard. ttèrs tsn whlch we are requlred to report by exrepti¢Jn We have rv)thirv4 to rerx)rt in respect of the fol1wr rnatte where the Charftles (Accounts and Rew)rtsl Regulation5 2CQ8 us to [A)rt to you if, in our LViniOn: the information given in Report of t1 Tru5tee5 is Ian5)Stent in any matedal ¥ylth the fInaal statets.. or sufficient accountlrÉ record5 have mt been kept; or the finaal 5taternents are rnt in agreement with ttrE accounling record5 and returrs. or we have rM>t received all the infomiaiion and expianati0Trs we require for our audit. Page 7
of the Inde ndent Au<litor5 to the Tntee5 of Bee5 for Develo ment CIOJ Re5pon5ibllltles of trustees As eXplaid more fully in the Statent of Res[IblIItTe5. tru5tee5 are rible for the preparation of the financial statement5 which give a tnje and fair vi, and for such Intemal control as the ttust*s deternrE 15 IEcessary to eTrable preparation of flnaTKial 51alernents that are free from matertal misstatement. wkether due to fraud or error. In weparing the fTnancial sialements, the tntstees are res5ble for assessing the charfws ability to continue as a goiw COeM, disclosing, as applicable, matters related to 801tw concem and Us1r golw concern basT5 of accounting unles5 the trustees eItr intetuj to liwidate the charity or to cease oreratlors, or have m realistic alternatTve L¢ to do 50. Page 8
RÈ rt of the ndentAuditors to the Tnstees of Bees lor Develo Our re5pon5ibaiitles for the audit of the flnandal statements We have been apwjinted as audi under Section 144 of tIE Charitie5 ACL 2011 and rewrt iTh accordance th the Act and relevant regulation5 rnade or han8 effect thereunder. Our objectives are to obtain reaable asyJra¢Ke aLx)ut Wther the financial statements as a ¥ylKle are free from rnaterial Misstatet, whether due to fraud or etror. ar to 155LE a ReJx)rt of tIE IndetEndert Auditor5 that incluth5 our opinlon. Rea50rwble a55urance is a high (evel of assurance, but 15 r#)t a guarantee that an audit CoruCted in aCCordare wth ISAS IUKI TrMII always deteci a wnaierial m15siaternenL when it eSts. Mi5Staternents can arise from fraud or ermr are consldered rnaterial if. indiwdually or in the aggregate. they could reasonably be excted to influerKe ike ecoromic decisiorts of taken on the basls of tlE5e linatKial 5tatetnents. The extent to which our pr¢ede5 a capable of detecting IeSUlantie$, itKludin£ fraud is detailed tdow: In fdentifwng and assessin8 risks of material mlsstatennt In of Irregularftles, lrtludlng fraud and rtrComK1iae laws and reguLations. we considered the follwng: the nature of industry and sector. control enrOnment and business reformarte results of our enquiries of managemeni aLt Ihelr own idertification and a55e55FtEnt of the risks of irregularities any Matters we identlfled havitB obtained ar rewewed the policies and procedure5 relating to: ILnti.ng. evaluating complying with laws and rewkatlons aNJ whetr they were aware of any Instae5 tsf -CorDP113ce detecting and sky)ndIng to the risks of fraud ar whether t have krwledge of any actual, Slspected or alleged fraud the internal controls established to mitigate risks of fraud or rwm-cotnpliance law5 and regulation5 the rnatters dlscussed among the audit engagerrent tearn and invOlw internal specialists, regardin£ h)w aThJ where fraud mi8ht occur In tIE linarKial Staterrnts and ary potenlial indicators of fraud s a Ult of pr(redu$ we consided the oOrtUnitIeS that rnay e$t wlhin organisation for fraud and Identified greatest PDtential for fraud in Income, which wa5 raised as a key audit matter in t1 current year. cornrTr)n all UK authts we are also required to rErform SlfIC prfKethres to resrx)Nl to risk of marogement OVee. We a150 Obl[d an understandirv4 of the leRal aryj regulatory framework ganisation operate5 in. focusi on 0510n5 of hose laws and regulalion5 that had a direct effect on detemination of material amounts aNI di5c105ures in the finantlal 5Laternents. The key5 laws and regulations we corsidered In this context include t Companies Act. Charities Acr and Charitie5 SORP and tax legislation. In addition we considered prO570n5 of other law5 and ulatior6 that do not have a direct effect on ihe financlal statements bji cornpliar£e which may be fundamental to organi5atTOn5 ability to operate. TIEse include health aThJ safety. In athti to the atrfjve. ojr procedure5 to rvwnd to risks identified iLUde foiiovAng: rewewng the financial stateffnts dlscloslwes and te5Ung to Supw)rknr documentation to asse55 compliarKe ith provfj$10Th5 of relevant laws and regulations described as havirY4 an effect In the flnanclal SMentS enoulrfry4 of managernent corremlng acrual aNI p)tentlal Iltlsatlon cialms rfortning analytical procedures to Sdentify any unusual or urExpEcted relationships that may indicate risks of tnateNal rnisstatements due to fra* reading tninutes oof meetiw of those charged governance in addressing tIE risk of fraud through rnan3gent override of cantrols, testing the appropriateness of loufflal entries and other adju5tsnents,' assessing with their judganents made In maknn8 accounting estimates are It1Cave of a FN)tentlal ba5.. and evaluating the Ixjsiress rationale of any si8niflcant trdnsaciion5 that are unusual or outside the normal course of busiws. We a150 cornrnunicated relevant la ar ulatiorS and [tentIal fraud rtsks to ail engagernent teaTn rnetntErs, including intemaL 5pecialises and remained alert to any Tn(lication5 of fraud or rKJn-compliance with lavo aNI rewiatlOn5 throughout tke audlt. Page 9
rt of the IndeKendent Audltors TnJ5tee5 01 Bee5 for Develotment icio A further descrfption of our re¥xJrGikn"lities for au(lit of the finala1 statements is located on the Flr&4tval ReporkntY4 cncIL.5 website al www.frc.org.uklauditor5resrnnslbllltles. Thi5 descrfption forrn5 part of our Rert of the Indedent Auditor5. Use of our report This rewt Is made 501eiy to the charity5 trustees, as a tM)ty, ill aCCordare 1th Part 4 of charfe$ (Accounts Rerts) Regulatior6 2(M)8. Our audli work has been u[rtaken $0 that we mlghl 51ate to the charitys ¢lltee5 those matters we are required to state to tM in an auditors report for m otker purpose. To the fullest extent rErmitted by law, we th rnt accept or assu responsibility anyorE other than the charity and the charitys trustee5 as a Lxjdy. for our audit wt)rk, for this rekw)rt, or for opinior6 we have formed. Thorne Wldgery Accountar(y Ltd Chartered Accountarbts StatUry AudTior5 2 Wyevale Business Pat* Kings kre Hereford Hefor(hire HR4 7BS Date:... Page 10
BÈes for Develo cio Starement of Flrba tlEye 30 April 2025 30.4.25 Total fund5 30.4.24 Total fund5 Unrestricted fund Restricted fund5 Note5 INCOME AND ENL)owAIEi¥rs FROM Donation5 and legacies 617,407 23,869 641,276 418,795 Charitable actfvltles Bullding 5U5tainabie livelihjods 39,527 385,043 424,570 531,641 Other tradir8 acttvities Investment irKorr Other irKon 233 30,702 22,414 233 27,874 23,594 810,350 30, 22,414 Total 710,283 408,912 1,119,195 1,812,254 EXPENDITURE ON Raising funds 21,053 21.053 61.050 Charftsble a¢Uvftfes ilding sustsinabie IlvelllNJods 834,781 311.321 1.146,102 975.241 Total 855,834 311,321 1.167,155 1.036,291 NET INCOMEIIEXPENDrruREI 1145.5511 97,591 147,9601 775,963 RECONCILIATrON OF FUNDS Totsil fund5 brought forward T14,193 136,765 930,958 154,995 TOTAL FUNDS CARED FORWARD 648,642 234,356 882,998 930,958 Th)tes form part of finandal Stements Page11
Bees for Develo rwt CIO) Balae Sktet 30A 12025 30.4.25 30.4.24 Note5 CURRENfASSErs Deblor5 Investments Cash at bank 13 14 18,750 620,525 259,604 25,588 749,626 167.886 898,879 943,IC CREDITORS Atnounts falling due wthin one year f5 115,8811 112.1421 CURREKfAssErs 882,998 930,958 TOTAL ASSETS LESS CURREKf LIABILITIES $82,998 930.958 ASSErs 882.998 930,958 FUNDS Unrestricted func Restdcied fur$ 18 648,643 234,355 T14.193 136,765 TOTAL FUNDS 882.998 930,958 The finaal rtaternents were approved by the Board of TrtEe5 and aUrised for 1ssue and were 51grEd on its behalf by: on S Shaw- Tnjs )tes foTm part of fInal 5tatetrETTrts Page 12
Bees for Development cio for the Y ded 30.4.25 30.4.24 Notes Cash flows from operatlns a¢tlvltles Cash generdted from otKTrtions 168,IA51 684,053 Net Cash (used inllprovided by operating actitieS 168,0851 684,053 Cash flows from fnvostfryg aciltieS Cash invested into current asset invest Interest e7Ved 129,101 30.702 1749.6261 23.594 Net cash provided byllused Inl investlng attiwtie5 159.803 In6.0321 Change fn cash and cash equ6valents In the reportlry pertod Cash and cash equlvaients at the be8lnnln8 of the reporting perlod 91,718 141.9791 167,886 209.865 Cash and cash equivalents at the end of the reportin¥ period 259,604 167,886 The notes form part ol finaal statrn*nts Page13
Bees for Develo nt cio Notes the Cash Flow State[Tnt for tlE Year Ended 30 A ri12025 RECONCILIATION OF IEXPENCrfTUREVJNCOhl£ TO NEf CASH FLOW FROM OPERATING AcnvinES 30.4.25 30.4.24 Net lexpendlturellirKome for the reportlng perfjod {a5 per the Statement of FlTh)rthl ActItieS) Adjustment5 for: Interest received Decrea5e/lirrreasel in thbtors IKrea5elldecrea5el In creditots 147.9601 775,963 130,rn1 6.838 3,739 123,594 124,5881 143,n81 Net cash (used fnvprovided by operattons 168,0851 684.053 ANALYSIS OF CHANGES IN FUNDS At 1.5.24 Cash flow At 30.4.25 Net cash Cash at bank aj in ha 167,886 91,718 259,604 167.886 91,718 259.604 Llquld resources DerKisits Included In cash cunt asset Inve5trnent5 749,626 1129,1011 620.525 749,626 1129,1011 620,525 Total 917,512 137,3831 880,129 The notes form part of these financial staiernents Page 14
Bees for Develo cio Notes to the Financial staternts for the Year Ended 30 A ri12025 AccouiifiNG POUCIES is of preparinl the finandal statements The finarrial statennts of the charity, which is a publ lfIt entity under FRS 102, have Fen prepared in aCcordae wth Charities SORP IFRS 1021 'AcctyJniing and Reportlw by Chariiies.. Statement of Rec0mNted Practice applicable to charities prepariw t1[ accounts in accordarKe th the Fitwncial Rerx)rting Standard applicable In ilE UK alld Republic of Ireland IFR5 1021 (effective 1 January 20191., FlnarK131 Retxjrting Standard 102 7he FInala[ Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011. The finarKial staternents have been prepared Uer tIE historical c05t conventK>n. GOI Concern The trUse5 a55e55 wIEtIEr the use of 80ing concern is appropriate i.e. whether tIEre are any material uncertainties related to events or condirions that may cast $18nificant d)ubt on the ability of the CIO to continue as a goini contem. The itee5 tnake thi5 a5se55ment in re5PECt of a period of at least otE year frorn the date of auth0ri5ation for issue of the finalaL statements and have concluded that the CIO has adequate rvtsources to continue In owationJl existetKe for tIE foreseeable future and ttr are rK) materfal utKertainties ab)ut the CIO'5 ability to continue as a goin8 concern, thJ5 tly continue to adopt the ping cortern basis of accounting in preparing the fInala( statements. Change in basls of accountlng or to prevlous accounts re has been tK) change to the accounting )licleS (valuation rule5 rnethod of accountir41 site last year and changes have been made to accounts for prewous years. Income ALL i[Orne is recognised in the 51atemeni of Flnancial Activities owe charity has entitIennt to the fs, 11 Is probable that irrne will be received arUnt can te measured reliably. VOlunry income 15 received by way of grants. donatlOn5 and gifts an(J 15 irKluded in full In stateTrt of Finar(ial Actiities when receivable. Grants, Whe entitlement is not conditional on the delivery of a ycific perfomarKe by the charity, are recogni5ed when tIE charity becomes uKondlt1onally eniitied to the granL tnIted service5 and facilitie5 are included at the value to the eharfty Wre ihls can be qUanf1ed. The value of 5eMce5 pded by volunteer5 has not been i[Ud in these accounts. Irwestrnent Income Is Included when re1Vable. Ir0M1 resr£eS from charitable trading actiwty are accounted for when earrEd. ItKomlnE SOUrceS frorn grants, where related to WforMae and SlfIC ¢liverabLes, are acccAJnted for 35 the charity earr6 the right to corlderatiOn by its performarKe. endltwe Llabilitie5 are recognised as explture as soon as there Is a legal or constructive obligation cornrnitting the charity to that eXpelture. it is probable that a transfer of econotnic beneflts vrfll be rewired in settlerrnt and the amouni of rhe ebligat1on can be measured reliably. Expenditure is acccwnted for on an accruals basi5 and has been classifled ut¥Jer headinis that aggregate all cosr related to the category. Where costs cannot LE rectly attributed io particular FadI[ they have teen allocaled to actiwtie5 On a basis con515tent with the of resourtrs. ExFlture on raisirq fund5 cornprise the costs asKKiated wth attracLing voluntary incorne, furKlraisln8 tradr8 costs and irwe5ttrEnt rnana8eTnent Costs. Charitable extEnditure cornprises those costs incurred by the charity in the dellvery of its actiwities aThJ semces for its nefIcianes. It Includ&s both costs that can aLLocated ilirectly to such actiwties and those costs of an IrKlirect nature llecessary to 5UPPJrt thern. G¢)vernarKe costs iLUde those costs aSSlated rneeting the cortstitutional and 5tstuiory ments of tIE charity and ilude the autht fees and costs linked to the strategic rnanagerrent of the charity. Page15 continued...
Bees for Develo ent ICIOI Notes the FInala1 Statements- contlnued fw the Year Ended 30 A ri12025 ACCOUllnNG POUCIES- contlnued Expendlture All costs are all(ated between the expEnditure categories of the gJFA on a basis desl8red to llErt the use of the resour. Costs reialing to a parhcular actmty are allated directly, otlkY5 are aprtiO on an appropriate basls. Taxatlon TIE CIO Is exernpt from tax on Its charitable aCt)lIe Fund a¢¢ounting Unrestricted funds can be In accordance wfjth the Charlble d)jertive5 at discretlon of the tsustee Re5tsicted fut¥J5 can 0Y be used for particular restiicted purtx)5e5 WWthin the objects of tlE charity. Resthctiors arise Wtrn specified by thnor or %then funds are raised fw particular re5trirted wrr)ses. Furtw explanatlon of the nature and putp)se of each fund is included In the rK)tes to the financlal State[Tts. Foretsn ¢urr•ncie5 MOtary assets and liabllltles deTh)rninated in curretKie5 OtIEr than the fuKtlonal currerjcy of CIO are translaied at rates of excharge prevailing at ilE ermj of the rertIng period. Trartsactlon5 in currencTe5 other than futKtional CUrreY of the CIO are rec(Yded at the rate of exchange date that the tran5artion cccurred. AU excharEe differences are are taken into account In anlwng ai net IoMe1exend1turè. Where CIO enter5 into a lease which entails tsklng 5ub5tantially all the rfsks and rward5 of OWTrshlp of an a55et, the lease is treated as a flnante lease. Lea5e5 which do not transfer substantlally all Ihe risks and rvards of o¥Yner5hip to CIO are classified as 0[tIng leases. A55ets held under fiTrae leases are In1llally recoBnised as assets of the CIO at tlEir fair value at the IrKeption tsf the lease or. if lower, at rwesent value of Ihe minimum tease payments. The corresnding Ilabllity to the lessor is included In the balance sheet date as a finan lease obligation. Lease paYnts are aprAYtioned tween finance exrRnses arKY redwtion of the lease f>ligation so as to achieve a constant rate of interest on the rernaining balance of liability. FinarKe expenses are recognised immediately, unless tly are <lirectly attributable to qualifying assets, in which case tlw are capitali5ed in (Ordae wth the CIOS pclicy on b)rrwng costs. Assets IEid under fInae leases are dewedated In the Same way as owned assets. Operdtlng lease payrnents are reCogned as an expEn5e on a straight-line basi5 over the lease term. In the event that lease irKentive5 are recelved to enter into operating leases, such irKentives are recogn15ed a5 liability. TIE aggregate tenefit of irKenUve5 is recogni5a as a reductlon of rental exrEn5e on a stralght-llnè basis. Ptn5ion costs CIO operates & deflned contritMJtioTr pian fr its emtr. A defined contribution Aan Is a klOn pian Thjer %thlch the CIO pays fixed contributiorts into a separate entity. OrKe the ContriPtIOnS have b*n paTd the CIO ha5 further payThents obli2aiions. The Cotti$ are recognised as expense5 when they fall due. ArnDunts rKJt paid are In accruats in the balance $t. The assets of plan a held separately frarn tkt CIO In Independertly admlnistered fund5. Page 16 continLEé...
Bees for t)eveio ent cio Notss to the FlnarKial Staternent5 - Cofitin for the Year EThled 30 A ri12025 ACCOUNnNG POLICIES - conttnued Investments Itwe5lments are valued at rnid-market price at balae sFEet date. Realised investment gainsliosses represent dIfferer on sale of Snve5trnents betwttn the proceed5 on sale a[ the openin4 market value Èndlor cost of athitiorfj in the triod. Unrealised inVeSent Eainsllosses present the dIffereeS beeen the closlng market value and tIE openir¥ market value andlor c05t of addition5 in the Femd. TaltsIe flxed assets The CIO has a capltali5ation policy of £5.C¥)J for Talble red a55ets. Debtors Trade and other debtots are recognised at Settlement amount due after any discount offered. PrepayrTEnts are valued at the annt prepaid rt of any discoLJnts d. Cash at bank and In hond Cash and cash equivalents comprise cash at bank and on hand. demand derA>sits with bank5 and other slv)rt-term highly liquid investrwts with original maturities of thr* months or less and bank overdrafts. In statement of financial w5ition, bank overdrafts are slxjwn thin borr(yMngs or current liabilities. ln the 5tatetnent of Cash FtOW5, cash and cash equivalents are Sho net of bank overdrafts that are repayalAe on demand and form an integral part of the cornpanls cash rnanasement. Credltors and provtslons Creditor5 and provi5ior6 are recognised where charity has a present obligation resultin8 from a past event that will probabty regult in the transfer of funds to a thÈrd party and the arnount due to settle Lhe obligation can be measured or e5tirnated reliably. Creditor5 and prow5ion5 are wrmally iecogni5ed at their settleffleni arrnunt after allowing for any Lr3de discounts due. NAnoNS AND LEGACSES 30.4.25 Total fund5 30.4.24 Total fund5 Unrestdcted fund5 Restricted fund5 Donatior Gifi aid Legacies 484,643 41.635 91.129 23,831 38 508,474 41,673 91,129 401,010 17.785 617,407 23.869 641,276 418,795 OTHER TRADING A1VITIEs 30.4.25 Total furK15 30.4.24 Total fund5 Unrestrirted funds Restricted fwds Sale5 of MercharKtise Sale5 of BID Joumal income Consultirq fee intoN 1,278 206 26.390 82 233 233 27,874 Page 17 continued...
Bee5 for Develokxment CK) lot to the Financial Statements- contlnu for the Year Ended 30 A rf12025 INVESTMEiif INCOME 30.4.25 Total fund5 30.4.24 Total fund5 Umtricted funds Restricted fund5 tywit account interest 30.702 30,70Z 23,594 INCOME FROM CHARITABLE ACTivmES 30.4.25 30.4.24 Activity Building sustainable IlvelilvJods Building 5UStainable liveli)0 Bulld1 SLtaInable livelihoods Course irKome Fundraising Events Grants 4,430 35,227 384.913 11,616 80,374 439.651 424,570 531,641 OTHER INCOME 30.4.25 Total funr 30.4.24 Total fund5 Llwe5trirted funds ReStcted fut05 Other Income Transfer frotn The Troy 2,414 20,CfKJ 2,414 20,(J)J 350 810,C(X) 22,414 Z2,414 810,350 SFv)rtly after the beginnTrw of financial year, the CIO fully took over the activities of The Troy Tntst (Bee5 fcf DeVelopmt T¢, UK CIO r¥Jmber lo78P31. The assets and liabilities of Troy Trt were trar6ferred to CIO at this tlme. RAISING FUNDS Investment marta8effnt costs 30.4.25 Total fu5 30.4.24 Totsl funds Unrestricted funds Restyicted fund5 Portfolio management 167 167 n5 Page18 continued...
ent Bee5 for Develo cio Notes to the Financial Statements- contlnued for ihe Year Ended 30 A ri12025 CHARITABLE AcllwTIES co¥rs Suppfrt sts (see te91 Dirert Costs Totals &Jilding swEtainabie livelihood5 660,218 485,884 1,146,102 SUPPORT COSTS Governar costs Managerrent Finarce Totsls Jlldlng yJ5tainabie liveliM)od5 459,232 2,966 23,686 485,884 io. TRUSTEES. REhWNERATION AND BENEFITS There were no tru5tee5' remuneration or other efits for year eTrd 30 April 2025 for th2 year ended 30 April 2024. re were no trustees, expe$ paid for Star ended 30 Apil 2025 12024: £993 for ore trustee of Travel and sutslswel. STAFF COSTS 30.4.25 30.4.24 Wage5 ar salarie5 ial securfty costs OtIEr pErsion c05 363,088 32,589 11,184 319,333 25.325 4,386 406,861 349,044 The average monthly number of emtloyees during yearwas as follows: 30.4.2S 10 30.4.24 Averdge adcOUnt rnjrntr of ernployee5 whise ernployee benefits lexcluding employer pertsion costs) exceeded £60.(AKI Was: 30.4.25 30.4.24 £70,Q)1 - £80.(xK) £BO.(K11 . £90,(KK) CIO offer5 and enro15 all eLi8ible employees into an auto enrolnt nsion sckerne operated by NEST and complies with peiOn regulator auto eNdment obllgatiors. Key management personnel key tnana8etTEnt per50nri of CIO is COndered to LE the tru5tee5 and the Chlef Executfve Offlcer. The total annt of emtloyee benefits lirKludiw employer re10 Contri1¢7$) received by key managennt per50ntEL for their Sern to the CIO was £130.31712024= 191,4161. Page 19 cont(nLd...
Bees for tkvelts cio Notes to the Financial Ststements - contlnued tIE Year En d 30_April 2025 12. COMPARIMVES FOR THE STATEMENT OF FIKANaAL AcnviTIES Unrestrtcted furkj Restricted fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and Legacies 417,765 1,030 418,795 Charltable actlvltles Bulldins 5UStainabie 11vellhJods 91.990 439,651 531.641 Other trddTn8 actiwties Investmt ir(ome Ottrw incoty 27,874 23,594 742,551 27,874 23.594 810,35) 67,799 Total 1.303.774 1,812,254 EXPENDITURE ON Ra1 funds 61,050 61,050 Charltsble a¢tlvtties PAJFlding sustainable IlveiStrKNJd5 590,397 975.241 Total 651,447 384.844 1,036,291 INCOME 652,327 123,636 775,%3 RECONCILIAnoN OF FUNDS Total fvnd5 brought forward 141,866 13,129 154,995 TOTAL FUNDS CIRRIED FORWARD 794,193 136,765 930,958 13. DEBTORS: AMOUNTS FALLING DUE WIThIN ONE YEAR 30.4.25 30.4.24 Trdde debt5 PrepayrfY&nts aNI accnjed Incotn 1,499 17,251 14,258 11,330 18,750 25,588 14. CURRENT ISSEf INVESTMEKrs 30.4.25 30.4.24 Flxed deposit acc(wnts 620.525 749,626 Page 20 continued...
Bees for Develo cio te5 to the Fin I Statements - contln for t1 Year Ee 30 A .1 2025 CREDITORS: AMOUNTS FALLING DUE WTfHIN ONE YEAR 30.4.25 30.4.24 Trdde creditor5 Taxation and social securfty Other creditor5 1,465 5,549 9.832 10,677 15,881 12,142 16. LEASING AGREEMENTS Minimum lease payments U[r rK)n.carKellable opE¥ating lease5 fall due a5 foll0v. 30.4.25 30.4.24 Within ore year Between one and five years 18.Cl]O 26,661 44,661 17. ANALYSIS OF Nrr ASSETS BEfw£EN FUNDS 30.4.25 Total fud$ 30.4.24 Total furK Unrestrtcted furKI Restricted fund5 Current assets Cumt Ilabilities 664,524 115.8811 234.355 898,879 115.881 943.10) 112,1421 648,643 234,355 882,998 930,958 MOVEI•£NT IN FUNDS Net At 30.4.25 At 1.5.24 in funds Unrestricted fund5 Ger*ral fund 794,193 1145,5501 648,643 Restrtcted funds Ghana Beekeepers Restore Forests Uganda Bee5 for Batwa 11 Ukraine Beekeepers Ethiopia More Bees Ethiopia TRANSFOR Ghana Bee Voice UK of Montnouthshire Other projects in Ethiopia, Ghan& and U2anda and UK 12,526 65,684 110.(ml 78,210 110.LKKI 1.730 15,913 61,158 7.993 24.785 1,730 47,178 15.574 17,993 20.C63 131,2651 45,584 110,IYJOI 4,n2 21,701 32,865 54,566 136,765 97,59) 234,355 rAL FUNDS 930,958 147,9601 882.998 Page 21 contirxjed...
Bees for Develop_ment cio Notes to the Financial Statements- coniiwed for the Year Er*d 30 A .1 2025 18. MOvEMEtr IN FUNDS- contln Net movenEllt in furKk, included in the atrnve are as oilow5.' Incotni resources Resources expended Movement in fun Unrestrl¢ted fubyjs GerEral fund 710,283 855,8331 1145,5501 Restrictsd funds Ghana Beekeepers Restore FOrts Uganda Bee5 for Batwa 11 Ethiopia More Bee5 Ethiopia TRANSFORM Ghana Bee The Voice UK Bees of Monrwuthshire Other projects in Ethiopia, Ghana and Ugara UK 117.874 152,19)) 110,OXII 199.3771 133,(ff111 110.(WI 4.7891 65,684 110,1K() 131,265 45.584 110,(KK) 4,n2 68,112 78.675 9.511 134,740 1101,8751 32,865 408,912 97,54) TOTAL FUNDS 1,119,195 147,9(Ql Cowyaratlves for movement In furbts Net rnovement In funds At 30.4.24 At 1.5.23 Unrestrlcted fund$ General fund 141,866 652.327 794,193 Rèstricted fund5 Ghana Beekeepers Restore Forests Uganda Bees for Batwall Ukraire Beekeepers Ethiopia MO Bee5 Ethiopia TRANSFORM Ghana B& The Voice UK Bee5 of monn)utShyre projects it? Ethiopia, Ghana and Uganda and UK 2,686 12,7641 1,205 47,178 15,574 17,993 20.C63 12.526 2,764 525 1.730 47.178 15,574 17.993 20,063 21,701 21,701 13,129 123.636 136,765 TOTAL FUNDS 154,995 775,963 930,958 Page 22 ctI[1ed...
Pee5 for Develo rnent cio Note5 to the Financial Statements- continued for the Year Ended 30 ri12025 18. MOVEMENT IN FUNDS- contlnued Comparative tEt rnovetTEnt in fund5, iTKiuded in tTr above a as fo1t0v. Incornin8 Resour expended Movement in funds UwwestrKted fund5 rneal fund 1,303.774 1651.4471 652.327 Rests1cted fund5 Ghana Beekeepets Re51ore Forests Uganda Bees for Batwall Ukraine Beekeeper5 Ethiopia More B Ethiopia TWISFORM Ghana Bee The Voice LIK Bees of MonrTK)uth5hire OtIr projects in Ethiopia, Ghana and Uganda al UK 105,¢X 7j 1.205 119,128 94,590 26,167 20.063 1102,314 13,4641 2,686 12,7641 1.205 47,178 15,574 17,993 20.C63 171,9YJ 179,016 18,174 141,627 1119.9261 21.701 508.480 1384,8441 123.636 TOTAL FUNDS 1,812.254 11,036,Z911 775,963 At tlE year end the Ugaa Bee5 for Balwa 11 fund WdS in defTCTt of E10,CDJ, thls was due to an advaKe payIrEt before the funth'rY4 was receed w5t year end. pUry and restrictiorts in relation to the funds: Restricted fund5: Ghana Beekeews Restore Tran5formlvg and enthchlng a forest landscarE in Afram PLain5 by reducing fire5 Forests and charcoal makiTr4 and by Irea51n8 nature.ba5ed LEekeeplng. Uganda Bees for Batwa 11 E[bling Baiwa people to eam morw through selling how and beeswax and to enhance their s(xial standing thin thelr commun1iies. Ukra1 BeekeekWS We raised fund5 to support beekeetET5 in Uktaine in 2022 Ethiopia Pknre Bees We raised funds to support beekeerEr5 in Ukraine in 2022 Ethiopia TWISFORKI Traceable natural prothJct5 for fore5L managernent Ghana Bee Voi Trainir4 women in Ghana as professional beekee[TS UK 8ee5 of thnrnouth5hire RecordirY4 bee specie5 across nMouthShire VC Other projects in Ethiopiè, To provide projects t¢ meet aim5 and objectives of the CIO Ghana and Uganda and UK 19. EMPLOYEE BENEFIT OBLIGATIONS 2025 2(ll4 The pertsion cost charge to the CIO amwnted to 11.184 4,386 Page 23 continued...
Bees for eVe ment cio Mote5 Lo the Financial s¢anenrS- ati[led for the Year Ended 30 A .1 2025 20. RELATED PARTY DISCLOWRES Troy Trust, an unincorwrated charity110788031 that has cornrnon Trustees. Irar6ferred It's attiwtie5 into Bees for tkvelopment. A tra[fer of £20,(AXJ 12024: t810,CO)I wa5 rnade into the CIO in the relation of trartsferreij of 35¥ets. BfD Bee SkK)p Ltd. a lirnited company whose sole dlrector5 15 N Bradbear, wh) was CEO during the Feriod and founder of BfD. During tke ar expen(liture of £3.338 12024.. £99,150) paid by t1 BfD B Ltd on half of Bee5 for t>eveloprÉnt Was rechar8ed to the CIO. Income of £4,703 12024.. 117,5101 was rollerted by BfD Bee Shop on behalf of the CIO and harged to them. At year end £llll 12024- £2321 was to BfD Bee SIK)p Ltd. Bees for Deveioprnent have a nurnber of close organi5ation5 that ty suprrfxt in COLmtry wot* wlth communities. Payrnents to the follwng Oryanisatlot have [en rnade in the year.. Bees for Development Ghana Bees f Development Ethiopia The Uga? National Apiculture Developrnent Or¥anE5ation ITUNAtx)I Working for Bees (Zimbabwe Key5torÉ Foundation Amazon Research lTrtemational Cacao Eleggua FounL1atlon Page 24
Be for Deve ent cio Detailed Statement of Financial for the Year E 30.4.25 30.4.24 INCOIAE AND ENDOWMEpirs Donations and ie8ades Donatlons Gift ald Legacie5 508,474 41,673 91,129 401,010 17,785 641,276 418,795 Other trad1 activities Sale5 of Merchand1se Sale5 of BfD Joumal IrKome Cotwlting fee IOrr 151 1,278 2C6 26.3 233 27.874 Investment Inc¢Jme Deposit account intw&t 30,702 23,594 Charftsble athvftfts Course income FutKlralslng Events Grants 4,430 35,227 384.913 11,616 80,374 439.651 424.570 531,641 Other Incorne Otker Incon Trarfer frotn The Troy 2,414 zo,c 3x1 810,CO) 22,414 810,350 Totsl Incomlng resources 1,119,195 1.812,254 EXPENDITURE Rai5in8 thsnailons and legatles Events and course expense5 20,886 60,315 Investment mana8Èrnerbt costs Portfolio managernent 167 735 Charttable acifvltle5 Cottsultsncy expw5e Bfd Joumal extnses Acfvertisit4 Project ex[dItre 5,175 1.605 8,147 571.808 391 8,065 651,762 660.218 586,735 SuPrt Costs This page dx not fonn part of statutory fana31 statements Page 25
Bee5 for De10 ent cio Detailed Statement of Financial Activities for tIE Year Ended 30_April 2025 30.4.25 30.4.24 Supptsrt Costs Management WaEe5 knal security Per70[ Renl IrGurarre Light and heat Telephor Postage and statiorEry Repairs and renewa15 Software licen Staff Recruitrnent & Training Travel costs Subscripti$ Office costs 363,OB8 32,589 11,184 7,591 1.029 2,382 832 1,073 3,624 10,142 14.978 2,856 2,925 4,939 319.333 25,325 4,386 361 3,240 614 2,407 785 9,525 2,327 4.023 1,167 459,232 375,097 Flnance Ba[ charges 2.861 Goyemance costs Audito. rernuneration Accountsry and legal f&s 6,495 17,191 3,948 23,686 10,548 Total re50urce5 eXpErd 1,167,155 1,036.291 Net lexpendlturevlncome 147,9601 775,963 This page doe5 rK*t forni part of statutory fITraal statetTEnts Page 26