EYE
NEPAL
Early Years Education
Annual Report 2024
Early Years
Education
In Nepal

**Eye Nepal Period ended 30[th] November 2024** 

|Contents||
|---|---|
|**Trustees Report**|**Page**|
|Reference and Administration Information|2|
|Who we are|3|
|Activities|3|
|Achievements and Performance|4|
|Financial Review|4|
|Structure, Governance and Management|5|
|Responsibilities of the Trustees|8|
|**Financial Statements**||
|Independent Examiner’s Report|9|
|Statement of Financial Activities|10|
|Statement of Financial Position|11|
|Notes (forming part of the Financial Statements)|12|



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**Eye Nepal Period ended 30[th] November 2024** 

## Reference & Administration Information 

The Trustees present their report and financial statements for the period ended 30 November 2024. 

_Reference and Administrative Information_ 

Charity Name: EYE Nepal Charity registration No.: 1198615 Registered Office: Suite 6 Merley House, Merley House Lane, Wimborne, Dorset BH21 3AA 

Operational Address: Suite 6 Merley House, Merley House Lane, Wimborne, Dorset BH21 3AA 

Trustee Board: The Trustees throughout the period and to the date of signing this report are as follows: 

Michael Smith (Chair) Debra Boer ACMA Kaye Mathew Nicholas Howe Management in the UK: Michael Smith – CEO Debra Boer ACMA – Treasurer Kaye Mathew – Marketing Nicholas Howe – Corporate Sponsorship Liaison 

In Nepal: Raju Bishowkarma, Country Manager, Nepal. Bankers: Lloyds Bank 

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**Eye Nepal Period ended 30[th] November 2024** 

## Who we are 

EYE Nepal is a small charity dedicated to enhancing the life opportunities of the poorest children in rural districts of Nepal through better early years education. 

To deliver our projects and bespoke educational programmes, the charity has established a not-for-profit sister company based in Kathmandu, and we work in conjunction with local municipalities in Nepal who provide back-to-back funding for our projects. 

We currently support Early Years classrooms in 21 rural schools in the regions of Sankhu and Bandipur, 2 after school learning centres and 2 EYE Nepal teacher training centres where over 80 teachers have been trained to date.  Our aim is to provide the resources and the knowledge required to enhance life opportunity for the poorest children in Nepal. 

We actively campaign against gender and caste bias and promote creative education as a practical alternative to a life of poverty and the horrendous reality of child labour which is born out of lack of opportunity. 

## Activities 

In all our Early Year Classrooms EYE Nepal provides a bright and welcoming environment with soft carpeted flooring with brightly painted walls and ceilings. We use bespoke child friendly furniture, bookcases, and storage shelving.  We also provide a range of educational materials including dual language books, artwork, creative games, stationery, and sports equipment. 

We provide learning programme packages in English and Nepali, along with teacher training, mentoring, ongoing assessments, and community support for early years classrooms at nursery level, grades 1, 2 and 3. 

We have designed our early years education programmes with the objective of the children attaining the Nepali governments' minimum target level in all subjects by the time they complete Grade 3. 


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**Eye Nepal Period ended 30[th] November 2024** 

## Achievements and Performance 

During 2023/24 we were able to transfer over £48k in donations to our sister organisation in Nepal to fund the development of kindergarten and Early Year’s Classrooms in schools in the Sankhu and Bandipur region of Nepal.  We have also renovated, furnished and supported a teacher training centre in Bandipur to support the new classrooms we have opened there. 

## Financial Review 

## _Principal Sources of Funding_ 

Income is generated from individual donations via fund-raising platforms, UK events including a Golf Day, Charity dinners and other events, with additional funding for the charity coming from support from individuals and partners undertaking fund raising activities.  We have also successfully applied for funding from grant making trusts. During the period we have also made significant progress in developing UKfocused fund-raising through corporate partnerships. 

## _Corporate and charitable sponsors_ 

## Holroyd Howe 


Founded in 1997, Holroyd Howe is a privately held company located in Reading, Berkshire, operating within the hospitality sector. The medium-sized organisation conducts its operations exclusively in England, Scotland, and Wales and serves as a catering provider for independent educational institutions, spanning from preparatory schools to higher education establishments. During the period we have been grateful for the support from Holroyd Howe and their clients for all their support via a variety of fund-raising activities. 

## The Fisheries 

Founded in the year 2019, The Fisheries is a fully equipped creative co-working space within a 200-year-old renovated warehouse, right in the epicentre of Hackney’s London Fields. Filled with natural light, tropical plants and homely furniture, the space is designed to be a home away from home, creating an environment in which people flourish. Complete with 150 desks and meeting rooms, the company operates on a membership model with three membership types: community, dedicated and office, with communal features open to all members such as: members’ events, event spaces and 24/7 access. The team at the Fisheries have raised funds for Eye Nepal in 2023 and 2024. 

## Northcote Hotel 

Northcote is a luxury hotel and restaurant located in Lancashire, England. It is renowned for its exquisite dining experiences and high-end accommodations. The hotel is known for its association with Michelin-starred restaurant Northcote, which offers fine dining with a focus on locally sourced and seasonal ingredients. Northcote Hotel also offers various amenities including spa services, event spaces, and beautiful grounds. The establishment has gained recognition for its commitment to culinary excellence and its role as a destination for both leisure and gastronomic experiences. 

## arena4finance 

arena4finance specialises in the delivery of financial training and consultancy services for the hospitality, leisure, and tourism industries. A range of courses, workshops and digital content is available to enhance financial literacy and business acumen to support professionals working in these sectors.  arena4finance provides administration and office support to EYE Nepal. 

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**Eye Nepal Period ended 30[th] November 2024** 

## _Public Benefit_ 

In planning the activities of the charity, the Trustees have given due regard to the Charity Commission’s guidance on public benefit. The Trustees believe that the activities of the charity in the period confirm its ability to provide current and on-going benefit to the public. 

## _Investment Policy_ 

The cash flow planning for each financial year includes the holding in reserve approximately 25% of the operational costs for the following year and almost all the charity’s funds are earmarked for specific projects, which means that there are currently no funds required for long-term investment.  This situation is continually monitored by the Trustees. 

## _Reserves Policy_ 

The Trustees every year examine the Charity’s requirements for reserves considering the main risks to the organisation. However, it is the current policy not to take on any project unless it is fully funded, and the charity aim is to maintain reserves of no less than 25% of anticipated annual operational expenditure. 

## _Plans for Future Periods_ 

The Charity plans to continue to focus on the principal activities outlined above in the forthcoming years, subject to satisfactory funding arrangements. Considerable progress has been made to date and the further development of the NGO in Nepal has included expanding the locally resourced team and the development of bespoke learning materials and a methodology for performance measurement in line with the requirements of the local municipality. The team in Nepal are focused on developing a sustainable social enterprise to support an increasing number of rural schools. 

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**Eye Nepal Period ended 30[th] November 2024** 

## Structure, Governance and Management 

## _Governing Document_ 

The organisation was registered as a charity with the Charity Commission on 13 April 2022. The Charity is formed as a Charitable Incorporated Organisation (CIO) who’s only voting members are its charity trustees. 

The CIO Objects are specifically restricted to the following: Advancing education for the public benefit by the provision of teacher training and learning materials for early years education for children living in underdeveloped communities in Nepal including by: 

a) Providing opportunities for every child to gain access to early years education 

b) Supporting access to learning materials 

c) Aiding the training and mentoring of local teachers 

d) Encouraging the use of assessment for measuring outcomes 

e) Working in partnership with local municipalities to develop learning materials to implement the national curriculum. 

## _Trustees_ 


All UK trustees currently give their time voluntarily and receive no benefit from the charity other than approved expenses.  Costs of events have been reclaimed from the charity when it has been demonstrated they were incurred for a known event. There must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees or appoint a new charity trustee. 

## _Trustee Induction and Training_ 

Trustees are appointed based on their expertise and willingness to provide practical support to the management of the charity. 

## _Risk Management_ 

Education programmes are managed locally. Nepalese born Mr Raju Bishowkarma formed the Nepalese based charity, EYE Nepal, as a sister organisation to carry out the operations of EYE Nepal UK. Since inception, he has recruited an experienced team to support the funded projects in Nepal. Raju is an academic manager with many years of experience in the Government school’s environment in Nepal. Under his management agreements have been signed between the local municipalities and EYE Nepal, which clearly establishes the relationships between each of the parties. 

We utilise a range of measurement tools to assess the effectiveness of the work that the charity does in terms of improving educational standards.  Internal control risks are minimised by the implementation of procedures in place for authorisation of all transactions and projects. In October 2024 the UK Trustees visited several schools to witness the revised in class performance management tools in action. 

Monthly operational and financial reports are submitted to the UK trustees in a timely fashion, and these are formally reviewed on a quarterly basis via trustees’ meetings. In addition, the UK trustees are in regular contact with the management team in Nepal on an informal basis. 

## _Fundraising_ 

The trustees would like to record thanks to everyone who has worked so hard during the period to raise monies for us, in particular members of the Island Youth Project, the grant making trusts and our corporate sponsors as well as our many 

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**Eye Nepal Period ended 30[th] November 2024** 

individual supporters. In our fundraising activities, we follow the requirements of charity legislation, money laundering and anti-corruption legislation. There were no complaints received in the period. 

## _Outlook in Nepal_ 

Nepal, renowned for its breathtaking landscapes and home to Mount Everest, is a landlocked country in South Asia. Situated mainly in the Himalayas, it shares borders with China, India, Bangladesh, and Bhutan. The nation faces pressing issues, particularly concerning its young population and their access to quality education. In the past decade the region has experienced devastating earthquakes which have severely disrupted the infrastructure both physically and economically. 


Nepal's population is approximately 30 million, with agriculture employing around 66 percent of the population. Despite economic progress, 20.0 percent of Nepalis lived below the national poverty line.  A significant portion of the population, 40 percent, is under the age of 18, with many children still lacking access to basic needs. The country is regularly impacted by natural disasters, political instability and low private investment. 

Educational attainment in Nepal is marked by significant challenges. Unicef estimates that 770,000 children aged 5 – 12 are out of school. It is estimated that almost 60% of children drop out of school before completing secondary school. Children leave to help at home, take up work, or because their families can’t bear costs. Social and cultural reasons mean that children are taken out of school by their parents before they have opportunity to complete their education. 

## Responsibilities of the Trustees 

The trustees are responsible for the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing those financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

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**Eye Nepal Period ended 30[th] November 2024** 

- observe the methods and principles in the Charities Statement of Recommended Practice (Charities SORP (FRS 102)); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed subject to any material departures discussed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is not appropriate to assume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document . The trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## _Examiner_ 

Frost and Co were appointed as independent examiners during the period. 

This report was approved by the Board on 22nd September 2025 


Debra Boer (Trustee) 

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**Eye Nepal Period ended 30[th] November 2024** 

## Independent examiner’s report to the Trustees 

I report to the trustees on my examination of the accounts of EYE Nepal for the period ended 30th November 2024, which are set out on pages 10 to 14. 

_**Respective responsibilities of trustees and examiner**_ As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). 

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

_**Basis of independent examiner’s report**_ 

My 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 statement below. 

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

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. 

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

Stephen J Frost ACA 

For and on behalf of Frost and Company Chartered Accountants Unit C, Regent House 9 Crown Square Poundbury Dorchester Dorset DT1 3DY 


Date: 22[nd] September 2025 

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**Eye Nepal Period ended 30[th] November 2024** 

## Statement of Financial Activities 

(Including Income and Expenditure Account) for the Period Ended 30[th] November 2024 

||**Unrestricted**|**Restricted**|**Total**|**Funds**<br>**Total Funds**|**Funds**<br>**Total Funds**|
|---|---|---|---|---|---|
||**Funds 2024**<br>**Funds 2024**|||**2024**|**2023**|
||**£**|**£**||**£**|**£**|
|**Incoming Resources**||||||
|Voluntary Income:||||||
|Donations and||||||
|Legacies|**15,696**|<br>**26,250**||**41,946**|**59,405**|
|**Total Incoming**|**15,696**|<br>**26,250**||**41,946**|**59,405**|
|**Resources**||||||
|**Resources**||||||
|**Expended**||||||
|Raising funds||||||
|Charitable Activities|**(24,973)**|<br>**(26,250)**||**(51,223)**|**(46,695)**|
|**Total resources**||||||
|**expended**|**(24,973)**|<br>**(26,250)**||**(51,223)**|**(46,695)**|
|**Net movement of funds**|**(9,277)**||**-**|**(9,277)**|**12,710**|
|Total funds brought|**12,702**||**-**|**12,702**|**(8)**|
|forward||||||
|**Total funds carried forward**|**3,425**||**-**|**3,425**|**12,702**|



The notes on pages 12 to 14 form part of these accounts. All the charity’s activities are classed as continuing. 

All recognised gains and losses are included above. 

## **Income** 

- a) The accounts receivable from 30/11/2023 of £11,636 were received in full in 2024 but was shown as Income in 2023 and are therefore excluded from the 2024 Income. 

- b) The annual raffle was held in January 2025 and will be included in the 2025 accounts. 

- c) The restricted funds include £11,250 from the Lewin Trust and £15,000 from the SG Trust. 

## **Continuing Operations** 

None of the charity’s activities were acquired or discontinued during the current year. 

## **Total Recognised Gains or Losses** 

The charity has had no recognised gains or losses in the current year. 

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**Eye Nepal Period ended 30[th] November 2024** 

## Statement of Financial Position 

## as at 30 November 2024 

|**CURRENT ASSETS**<br>Cash at bank and in hand<br>Debtors<br>**CURRENT LIABILITIES**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**FUNDS**<br>Restricted funds<br>Unrestricted funds|**2024**<br>**Unrestricted**<br>**2024**<br>**Restricted**<br>**2024**<br>**Total funds**<br>**2023**<br>**Total funds**<br>**£**<br>**£**<br>**£**<br>**£**<br>**4,369**<br>**231**<br>**-**<br>**-**<br>**4,369**<br>**231**<br>**2,626**<br>**11,626**|
|---|---|
||**4,600**<br>**-**<br>**4,600**<br>**14,262**<br>**1,175**<br> **-**<br>**1,175**<br>**1,560**|
||**3,425**<br> **-**<br>**3,425**<br>**12,702**|
||**-**<br>**-**<br>**-**<br>**-**<br>**3,425**<br> **-**<br>**3,425**<br>**12,702**|



The financial statements were approved by the Board on 22[nd] September 2025 and signed on their behalf by: 


Debra Boer (Trustee) 

## Notes 

## **1. ACCOUNTING POLICIES** 

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**Eye Nepal Period ended 30[th] November 2024** 

## General Information 

Eye Nepal is an unincorporated charity registered with the Charity Commission, registered charity number 1198615. 

The principal address is Suite 6, Merley House Business Centre, Merley House Lane, Wimborne, Dorset, BH21 3AA. 

## Basis of Preparation of Financial Statements 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011. 

The charity is a Public Benefit Entity as defined by FRS 102. 

The following accounting policies have been applied consistently in dealing with items, which are considered material to the financial statements. 

## Cash and Cash Equivalents 

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 

## Fund Accounting 

- Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity. 

- Designated funds are unrestricted funds, earmarked by the Management Committee for particular purposes. There were no designated funds during the current period. 

- Restricted funds are subject to the restriction on their expenditure imposed by the donor or through the terms of an appeal. During the year the charity received income from The Lewin Trust for 7 new classrooms in the Bandipur region and income from the SG Trust for 10 new classrooms in the Sankhu region. 

## Income Resources 

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to the particular categories on income: 

- Donations are recognised when received. 

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**Eye Nepal Period ended 30[th] November 2024** 

## Resources Expended 

Expenditure is recognised on an accrual’s basis, as a liability is incurred. Expenditure includes VAT (where applicable) and is reported as part of the expenditure to which it relates: 

- Costs of generating funds comprise the costs associated with both the costs of attracting the income and those of providing the facilities to generate the income. 

- Charitable expenditure comprises the costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the costs that can be allocated directly to such activities and those of an indirect nature required to support them. 

- Governance costs include those costs associated with the meeting the constitution and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. 

## **2. TOTAL RESOURCES EXPENDED** 

||**2024**<br>**Total**|**2023**<br>**Total**|
|---|---|---|
||£|£|
|**Costs directly allocated to activities**|||
|Transfers to Nepal|48,623|38,606|
||||
|**Support Costs allocated to activities**|||
|Bank Charges|257|295|
|Other Costs|1,383|6,234|
||||
|**Total Resources**<br>**Expended**|50,263|45,135|



The charity had no employees during the period and all activities were undertaken by individuals on a voluntary basis. 

## **3. NET (DEFICIT)/SURPLUS** 

This is stated after charging: 

||**30.11.24**|**30.11.23**|
|---|---|---|
|Independent examiners’ remuneration|**960**|**1,560**|



## **4. TRUSTEES’ REMUNERATION AND BENEFITS** 

There were no remuneration or other benefits paid to Trustees for the period ended 30 November 2024. 

## **5. TAXATION** 

The charity is registered under the Charities Act 2011 and as such is entitled to the exemptions under Income and Corporation Taxes Act 1988. 

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**Eye Nepal Period ended 30[th] November 2024** 

## **6. MOVEMENT IN FUNDS** 

|Unrestricted funds<br>Restricted funds -<br>Lewin Trust<br>SG Trust<br>**Total funds**<br>**et Movement in funds, included in the above are**<br>Unrestricted funds<br>Restricted funds -<br>Lewin Trust<br>SG Trust<br>**Total funds**|**At 01.12.23**<br>**Net Movement**<br>**In Funds**<br>**As at 30.11.24**<br>12,702<br>(9,277)<br>3,425<br>-<br>-<br>-<br>-<br>-<br>-<br>**12,702**<br>**(9,277)**<br>**3,425**<br>**as follows.**<br>**Incoming**<br>**Resources**<br>**Resources**<br>**Expended**<br>**Movement in**<br>**funds**<br>15,696<br>(24,973)<br>(9,277)<br>11,250<br>(11,250)<br>-<br>15,000<br>(15,000)<br>-|**At 01.12.23**<br>**Net Movement**<br>**In Funds**<br>**As at 30.11.24**<br>12,702<br>(9,277)<br>3,425<br>-<br>-<br>-<br>-<br>-<br>-|
|---|---|---|
|||**12,702**<br>**(9,277)**<br>**3,425**|
||**41,946**<br>**(51,223)**<br>**(9,277)**||



## **Net Movement in funds, included in the above are as follows.** 

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