SWAZILAND SQIOQLS PIIOJECI S Report of the Trustees and Flnanclal Statements for the Year Ended 31 December 2025 for Swaziland Schools Projects Re8iStered Charity Number.. 1201192 Swazlland Schools Projects Year Ended 31 December 2025 Contents Report of the Trustees for the Year Ended 31 December 2025.-. Independent Examinees r¢port to the Trustees of Swazlland Schook Projert ..-..--.. Statement of Financial Activities .-. a8e 12 Swailland Sthools Projects Year Ended 31 Decembef 2025 Report of the Trustees for the Year Ended 31 December 2025 The Trustees present their report with the flnanclal statements of the charlty for the year ended 31 December 2025. The Trustees have adopted the provlslons of the Ststement of Recommended Practlce (SORP) 'Accountin8 and Reporting by Charltles,. It should be noted by readers that the country changed Its name from Swazlland to Eswatlnl In 2019, but the offlclal name (rf the tharity remain5 unchanged. Reference and Admlnlstratlve Detalls R￿Ister4d Charlty No 1201192 Re8lstered Offlce 19 Blndon Abbey 8edford MK41 OAZ Trustees S Smith Reverend M Lawson R Thompson S Brlttain l Nicholls K Fossey MBE L Mlllar B aarke H Woodrow S Boydon thair Secretary Treasurer Resl8ned November 2025 Appointed November 2025 Prlndpal 8ankor5 The C04>peratlw Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT Indepftnd•nt Ex•mln•r Paul G¢)odln8 Structure, Governance and Management Governln81)ocument Swaziland Sthools Projects ISSP) is a charity registered with the Charity Commission, number 1201192, and 8overned as a Charitable Incorporated Of8anlsatlon (CIO). The charlty has operated slnce 1999 and transitioned from an Unincorporated Charity, tharity number 1123689, to a CK) wfth effect from l January 2024. Recrultment and Appolntment of Trustees Trustees are appointed to supervlse and develop the charlty and are recrulted because of thelr Interest In the work of the charity and their specific skills. The Officer5 are appointed by the Trustees and are themselves Trustees of the charlty. The Trustees detennlne the proJeLt5 to be undertaken and manage the budget to achleve the objects ol the charlty. P48e 13 Swazlland Sthools Prolects Year Ended 31 December 2025 Trustee meetln8s durln8 2025 were hdd eltheT onllne or In person. At the AGM In November Barry aarke stepped down as a Trustee. The Trustees would Ilke to thank him for hls tontributlon durlng hls tbme as a Trustee. At the meetin& Slmon Boydon Iformer Britlsh Hlgh Commissioner to Eswatinl) was elected as a Trustee. Matthew Lawson was elerted a5 Chalr, Lucy Mlllar a5 Secr•tary and St•ve Smith as Treasurer. Susan Lousada, HM Lord-LOeutenant of Bedfordshire, continued as Patron and the Trustees are grateful for her on805n8 SUPPOrt. Trustee Inductk>n and Tralnlnl Trustees are famlllar with the work of the Charlty and are Inltlally brleled by Kefth Fossey and/or Steve Smlth as to the work of the Charlty. They are provided wlth coples of the Constitution and the policies that govern how the chartty operates. Opportunltle5 to attend public 5peakln8 en8a8ements where the work of the charfty is described are available. Informatlon about the work of the tharity is shared at meetin8s and vla re8ular emall. The Trustees have an annual programme of pollcy and govemance review which also feature asperts of tralnin8 and leafnlng and keep themselves up to date In felatlon to their governance role via Charity Cornmlsslon communlcation5 as well as from local Communlty and Voluntsry Services organisations. Rlsk Management The Trustees have a rlsk pr¢xess to assess risks and put in place rlsk management controls to mitlgate those ri5k5. Thls include5 a formal Risk Reglster whlthls revSewed on a re8ular basis. As part of that process. the Trustees revlew the adequacy of the CharIt￿5 flnandal controls, and this Indudes en5urln8 that money sent to eswatinl Is used for the corf ect charltable purposes. The Trustees also assess risks to any volunteers who visit Eswatini and produce appropriate advice and support to mltl8ate those rlsks. The Trustees ensure that approprlate employerfs Ilablllty and publlc Ilabllity Insurance Is In place. Insurance Is revlewed each year. Alon8 With all other policies and processes, the charWs safe8uardln8 arrangements are revlewed regularly, Trustees Responslbllltles and Publk 6eneftt The Tru5tee5 are char8ed wlth the mana8emem arKI supervision of the affair5 of the chailtv: To bring an Independent Judgement to beaf on strategy, performance and use of resources. To act In 8ood falth In the Interests of the charlty and In th• publlc Interest. exerclse due care and dlllgence, and contribute expertise and experlence to the work of the Trustees; To promote the reputation and standing of the charity; To administer the charity for the benefit of current, potentlal and future beneflclarles. The charity Trustees believe they have met the requirernent5 01 public benefit as publlshed by the Charlty Commlssion. JGe 14 Swazlland Sthools Projects Yèar Ended 31 December 2025 Objects, Actlvltle5 and Publlc Benefft The Charws prfnclpal objectlve Is to advance the educatlon of the chlldren and adults In Eswatlnl. The Charlty does th55 In four ways: Contributing to a Bursary Fund so that children may receive a secondary education; Fundln8 building works such as classrooms, tollets, kitchens, teachers houses, water Instsllatlon,. Providin8 resources such as food and teachin8 materials: Financing other educatlonal projects suth as early thlldhood development trainlng and vocatlonal courses. Achlevements and Performance The Trustees, priority during 2025 was to support the Bursary Fund administered by partner charity Swazlland Charltable Trust so that 28 chlldren could recelve a secondary educatlon. The Charity also funded other projects durin8 the year includln8: A 8rant for educatlon of severely111 chlldren looked aftef by The Rockln8 Horse Charlty Repalrs to outdoor play equlpment and supply of teachlng resources at Ekwetsembenl Speclal School Vocatlonal tralning ot young Swath and 844 desk repairs at seven schools Shelves, domestlc sclence tables and mlnor repalrs made by youn8 Swazl apprentlces at seven schools 14 classrooms renovated Indudln8 false ceilln8s and118htlng at Lundzl Prlmary School. Leaking roots mended, windows and doors replaced. School painted and resour￿ provlded at Lundzl Primary School Installation of outdoor play equ5pment •t four preschoo IS dassroom5 and two stsffrooms renovated, leaking roots mended and doors/windows repalred at Hlutl Primary School 1000 concrete bl. I report In respect of my examlnatlon of the Chartys flnandal statffnents carrfed out under sectlon 145 of the 2011 Act. In carryln8 Out my examlnation I have followed all the appllcable Dlrertlons glven by the Charlty Commlsslon under sectlon 145 (5)Ib) of the 2011 Act. I have completed my examlnatlon. I confirni that no matters have cometo my atterrtlon In connectlon wlth the exarnination 8lvln8 me cause to belleve that In any material respect. l. accountlng records were not kept In respect of the Charfty as requlred by 5ertlon 130 of the 2011 Art. or 2. the flnandal statern•nt5 do not accord wlth those recorth; or 3. the financlal statem￿t$ do not comply wlth the appllcable fequlrements concemlng the form and content of accounts set out th the tharltles (Accounts and Reports) regulatlons 2008 other than any requlrement that the accounts gfve a true and falr vlew which Is not a matter Consldffed as part ol an IrKlependent examination. I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whith attention should be drawn in this report in order to enable a proper understarKfin8 of the flnan¢lal statements to be reached. Ewan Wllson Date: P•le 18 Swazlland Sthools Projects Year Ended 31 t)ecember 2025 Statement of Flnanclal Actlvftles {Incorporatln8 an Income and Expendlture account) For the Year Ended 31 December 2025 Totsi 2025 Total 2024 Incomlng Resou Dwions and le8acie5 Other trnthng a¢tlvltleJ Irfv*Stmen 29.627 39,312 71.953 2,558 121 121 29.748 39833 74.570 Ratsln8 fund5 Charttable acdvltl•s 276 276 1.939 57.815 59.754 37,428 11. IL188 48,617 Net •Th￿rnert In fvrnls 14.817 Reconrlknkni olfvntr. Tot41 tunds brwht INward 17956) 11.5031 {9,4591 15,012 Slatsm•nt ol As54ts Uabllftl•s CJsh Funds Ctroperntlve Bank ajfrent accwrt 5.$52 5552 15,012 These Flnanclal Statements approved by the Trustees ol the Charlty on l Marth 2025 and are Si8ned on Iheir behalf by: Steve Smlth, Treasurer Matthew Lawson, Chairman All actlvltles are C￿￿knu1Th8 except any dtsclosed In the notes whlth have been dlxontlnued du the period. The notes on pa8es 10 and 11 fomi part of these accounts. ftp 19 Swazlland Sthools Projects Year Ended 31 De￿rnber 2025 Not•s to the xcounts For the Year Ended 31 December 2025 l. Accountlry Polk Bask of Att￿ntIng These account5 have be￿ prepared on a recelpts and payments basls under the hlstOTlcal cost c¢>nventlon wlth Items recognised at cost or transactlon value unless otherwlse ststed In the relevant note(s) to these accounts and wlth th• Statement ol Recornmerlded Practlce: Accountln8 and Reportln8 by Charltle5 preparlng thelr accounts In accordano wlth the Flnandal Reportlng Stsndard appllcable In the UK and Republlc of Ireland (FRS 102) 6ssued on 16 July 2014. The tharlty constltutes a publlc tjenefft entlty as deflned by FRS 102. b. Reco8nltlon of Income Thls ts Irlduded In the Statement of Flnandal Actlvltles (SOFA) when recefved. There has been no offsettlng of assets arKI Ilabllttles, or Income and expenses. unless requlred or perniltted by the FRS 102 SORP or FRS IOL d. Government Grnnts The tharlty has recelved no goVernm￿t grants In the reportln8 perlo e. T•x redalms on Donathns •nd Gllts Gift Aid receiwable is Ir￿uded in Income when there Is a Ydlld dedaratlon from the donor. Any Gfft Ald amount reco￿￿ on a donatlon Is consldered to be part of that th and Is treated as an addltion to the same fund as the Inlual d¢)n•tlon unless the donor or the terns of the appeal have speclfied otherwise. t. Donated Good￿ FJdlltl•s and Volunteff Hdp The value of any donated goods, servlces. fadlltles or ￿lunt￿ help recelved Is not Induded In th• accounts but ts descrlbed In the tru5tee5' annual report where matertal. 2. Insur4nco Insurance costs above relate to Trustee and Offlc•r IrKlemnlty Insurance and Employer5 and Publlc Llablllty Insurance. 3. Trustee Remun•r•tlon Trustees do not recefve any r•muneratlon. PaBe 110 Swa211gnd 5thools Projects Yeaf Ended 31 December 2025 4. Anthsh ol kncoffl• Rertrktod Tot412025 Total 2024 An•ty￿S Donltlons and 8fft5 26A74 3.152 36,159 3,152 .311 71,953 Tot•1 Oth•f tradlry Athftl•s Sales 2,558 2￿58 Total Dlvidends Interest 59 Tat*l 121 59 Totsl 29,747 39,433 74,570 S. Aft*￿1$ of Expendltur• Expendftuyton fvnds intin& post•8•, st4tlonery Insur•nc• 338 1.939 Fundr•isl 276 276 Genernl expenses ProfessK>nal costs Dl8tt41 thann•l costs Trtal 149 149 426 57 57 2.723 Exyndtturn on chrltabl• •clfvttl•• Bursary yants Project ￿Irt5 Bank tharzes Trtal 4,475 52,525 41A70 41,470 4&470 560 48,O>J 57,OXI T¢*al 332 560 4892 59,753 Page 111