The Band Aid Charitable Trust Trustees. Report ar￿ Financial Slatemerts Year Ended 30 November 2023 Charity Number 292199 The Band Aid Charitable Trust Report and financial ststements for the year ended 30 November 2023 Contents Page: Legal and administrative irrformation Report of the trustees Independent audrtorfs report 12 Consolidated statement offinancial 8th"vities- 30 November 2023 Charity slalemenl of finanaal activities- 30 November 2023 14 Consolidated and charty balan￿ sheets Con801idaled llow statement 16 Notes foming part of thè finartial statements The Band Aid Charitable Trust Legal and administrative infomiation Truste8S R Geldof KBE (Chaimanl J Kennedy OBE M UreOBE H Goldsmith CBE Lord M Grade CBE C Morrison Registered Charfty Number 292199 (England and Wales) Prlnclpal Address 1 Princeton Mews, 167-169 London Road, Kingston U￿n Thames, Surrey, KT2 6PT Audltors HW Fisher LLP, Acre H￿Se. 11115 Willom Road, Lonth. NW1 3ER Sollcbtors Bray & Krais, Suite 10, Fulham Business Exchange. 8rMJlevard, ImFenal ￿art, London, SW6 2TL Bankers National Weslminsler Bank Plc. PO Box 1 $8. 214 High Holbom. London, W1CV 7BX The Royal Bank of ScollaThJ Plc, 49 CharirvJ Cross. L￿￿(￿, SW1A 2DX The Band Aid Charitable Trust Report of the trustees for the year ended 30 November 2023 The Iruslees wesenl their report along wlh ￿ finanual slalements of The Band Aid Charitable Trust I'Band Aid, or the chari(y'l forlhe year ended 30 November 2023. The finan(ial sl*emenls have been prepared in accordance with the accounting policies set out in Note 1 to the fina￿131 statements and comply with the charity's trust deed, the Charities Act 2011 and the Statement of Rec(Mnmended Practice applicable to charities preparing their accounts in accordance wi(h the Financial Repcrfting Stsndard s￿l¢able in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. Objectives and Activities The Band Aid Charrtable Trust was established by the current trustees lo administer the funds generated from the sales of the single'Do They Know It's Christmas?. wthich was written ty Bob Geldof and Midge Ure lo raise money in response to the Ethiopian famine of 1984. The Trust was also used to collect the donations pledged by the millw$ of people worfdwide who watched the Live Aid concerts in London and Philadelphia in July 1985. In 2004 the charty sold the DVD rights of the LNe Aid conwts lo a third paty, via ts 100Qh subsidiary Band Aid Trading Limited. The DVD was released in advance of the 20th anniversary of the concerts. No income was received from the Live Aid DVD in this peri¢)d. The charity single 'Do They Know il's Christmas?" was re-recorded and released in November 2004 through Band Aid Trading Limrted, under the name of'Band 20,. This has Cfealed a fijrther source of Income for the company in the fum ol sales and publishing roy81ts'es, vthich are distritxrted lo Band under the Gift Aid scheme. The 20th anniversary of Live ￿'d in 2005 coincided wth Ihe G8 summit in Scotland, and the truslee$ fell that this presented in opportunty lo lend support to the Make Poverty History campaign, which aims to compel rich countries lo lulfil their obligaliMs and promises lo help era(licale povety by calling for urgent and meaningful policy change on the three inextricably linked areas of Irade. debt and aid. On Saturday 2 July 2005. 10 concerts look place across the globe under the banner of 'Live 8.. People were asked to lend their Support lo the Make Poverty History campaign by adding their names to a list that would be presented to Tony Blair, as chair of the G8. The Live 8 coneerts were walthed by an estimated 3 billi¢Jn people. thilst these concerts were free lo the public, income was generated from a text lottery. SFOnS￿Ship and merchandising. Again, Band Aid Trading Limited wa$ useil lo contract vrfh a Ihird paty lo release various DVD'S of the Live 8 concerts, in order to generate another source ol InC￿e for the company in the fomi of sales and publishing royalties, which are also distributed lo Band Aid under the Gift Aid scheme. No income was received from the Live 8 DVD'S in this period. In November 2014, the Iruslees were once again moved to take athon lo support the poor of Africa, this lime lo raise funds lo fight the spread of the EtM)la wrus vthich had already daimed the lives of thousands of people in Sierra Leone, Guinea and LI￿ri3. and lo raise inlemalional awareness of the crisis lo encourage governments to lake immediate action. A new group of current artists and musicians were enlisted by Bob Geldof and Midge Ure lo re-record'Do They Know il's Chnstrnas?" under the banner of Band Aid 30 with the aim of raising funds for the campaign from sales of the single. Online and SMS d￿at1￿ facilrties were also sel up for members of the public lo donate directly lo the Band Aid 30 campaign. The Band Aid 30 single was released on 17 November 2014, re￿hIng Number 1 in the charts in 69 countries. Within two months following the release of the Band Aid 30 single. Band Aid had awarded grants in excess of £1.9m lo a variety of projects in West Afn"ca lo help fHJhl the spread of Ebola and help those affected by the disease. In the period lo 30 November 2023, Band Ai¢J awarded grants lotslling £nil12022." £nill from the Band Aid 30 fund lo support ongoing Ebola related projeds." this was on the basis that the Charity received no funding applications lo support this work. Instead. the limited BA30 ftjnds brought forward ftom FY22 t¢Xalling £205.319 were utilised lo support UNHCR in the pro￿lS1On of dean water for Somali refvgees and the host communities in the Doolo zone in the Somali region of Ethiopia. This work included the construction of a new boreh(Ae and water storage faulilies, and the rehabilitati￿ of exi5b"rvJ water systems. The Band Aid Charitable Trust Report of the trustees forthe year ended 30 November 2023 (continued) Oblectlves and Actlvltles Icontlnuedl In 2019, the charity made digital tracks and ft%)tage of the Live Aid arml Live 8 ￿ncert5 available for streamirvJ lo the pubtic across various plafforms. via Band ￿'d Trading Limrted. This has cxeated another new income stream for the charity via Band Aid Trading Limited. In Ihe period to 30 November 2023, income from streaming revenues totalled £560,34612022.' £525,392). The trustees wish to thank all of those who continue to give so generously and contribute towards achieving the objectives of the Trust Total income of the Trust ￿nce in￿p￿.0n is £146m IUSS 223ml. Since 1985 funds have been provided on an ongoing basis for long lem) development projects and emergency aid. The majority of funds originally raised were spent on projects in Ethiopia and Sudan. vthere the Ihr&al ol famine was al ils worst. Over the years, Band Aid has contimed lo support wcyeds that benefit the p￿reSt and most vulnerable in Africa. The trustees favour long temi proiecls vtsre a ¢￿trIbution from Band ￿'d wll make a lasting difference to the Iwes of the benefiaaries. Vlhere possitle, projects funded IndLKle the participation of the local communities so that activities can be tailored lo a￿d￿sS specific needs and ensure that the benefits ansing eontinue long after implemenlalion has eÈased. The Ifuslees also believe that projects funded should have the potential for wider impact, for example, through the spread of an apwoath. lethnclogy or practice. and through influencing other persons, agencies and governments. The main objeciive for the year was to continue lo apF4y the incc*ne received by Band and its trading subsidiaries in line with the tharity's objecls for each fund. Band Aid Trading Limited has continued lo receive royatty itKome from the Band Aid 20 and BaThY Aid 30 singles, and all Streaming revenues. Band Aj'd conlinues lo receive royalties frcfft sales of th8 original recording of "Do They Know Il'$ Chri$lma$?" and from licensing dips of the Lwe Aj'd Concert. direcily. The charity also received voluntary donations frijr individuals and corporate donors lotalling £110,683 12022.. £37,798). Surplus cash balances held. awaitiNJ investment in charita￿e prqecls, placed on short tem deposit, also contributed lo the charity's income. Grant maklng pollclos The tru$lee$' policy is lo ¢on$Kler all OP￿￿allOnS Ihal align wilh the charity's general objedwe$. Band Aid has developed a rapid funding methanism vthich is designed to effiaently manage the grant making process and provide quick dec3sions to organisations by reconciling their needs and those of the intended beneficiaries to the Trust's requirements in advance of receiving a final frjnding application for con5iderth'on. Income recewed has ¢￿tInued to be granted to Various organisalions vkno imF4ement projects in Africa, via the established funding process. Achlevements and Perforn)ance Chaiitable activilies During the year, the trustees authorised granls totalling £2,336,534 12022.. £1.734,7811 to other charitable organisalions for projects in Afnc8. Of thi5 amujnl £205.31912022". £nill was awarded from restricted funds. The balance of £2,131,21512022". £1,734,781) was awarded frLNn general funds lo humanrtarian projeds in the Hom of Africa. The Band Aid Charitable Trust Report of the trustees forthe year ended 30 November 2023 (e¢>ntinuedJ Achievernents and Performance {continued) Tigray omergency Band Aid awarded grants of £846.359 in 202312022. £1.150.0001 lo five12022'. four) organisations (Action Aid. Hamlin Fistula. Mary's Meals. African Childrens Educati1￿ TnAsI and UNICEFI ddivering humanitarian relief and support to communities in Tigray region. Activities funded by Ba￿1 ￿'d in this calewry during the period indude. emergency food dis1ritr￿rtIcfflS treatment for children suffering from severe acute malnutrition provision of dean vraler and sanitation SUP￿leS hygiene and sanitation training vace4nati¢Jns for children emergency cash distribuli￿$ for vulrErabl8 hcwsthold$ support for surviv¢y$ of gender-based vidence new dinieal equipment for hospitals in Mekele schod equipment for children, as part of the local government's strategy for rein$tsling education services Food S•curfty and Llv•llhood PmJ•cts Band Aid funded ￿ prqeets In the peric•Y vthich induded a fe￿ secunly component for beneficiaries, with grants lotalling £144,50012022. £246.4201. £89,700 was awarded lo HelpAge lrtefnational as part of a wider project Ilotal grant £150,01)01 to fund cash dislribulions for pasloralisl eommunilies in Borena. Ethiopia. vtho have been Impacted by drought in the region. Cash distributions provideflexibilily for households lo purchase staplefood rtems depending cn their specific needs. A grant of £54.800 was awarded lo Open Way to provKle emergency grain supplies and droughl-resi$lance crops lo vulnerable families in the Sidama region ol Ethiopia. This is part of a wider project for rural communities in the region which 8and Aid has suppc*ted for many years and indudes a range of activities attoss the other funding categories. Health Impmvement Band Aid awarded two grants in the Peri￿1 lotalliThJ £118.35012022'. £63.000} for activities specffically focused health improvement. The trustees continued to SUFPOrt the delivery rf Irfe-thanging surgical and matemal health services to women suffering from obstetric fistula in the Southem Regions of Ethioya with grarts totalling £100.000 lo Hamlin Fistula UK. £18,350 was granted to Open Wayto provide ongoing support to eldety and olhervulnerable people in the Sidama region of Ethiopia through the construction of mryjest Iv)using and S￿$$ lo basic healthcare throughout the year. This was part of a wider prqeLt for rural communrties in the region which Band Aid has supported for many years and includes a range of adivities across the other funding categories. Emergency relief grants for Twray also indL*Jed dedicated health improvement ￿t￿rtIeS for people affected by the conflict in the region (see above). The Band Aid Charitable Trust Report of the trustees forthe year ended 30 November 2023 (e¢>ntinuedJ Achievernents and Performance {continued) Education The Band ￿'d trustees awarded one grant of £35.850 to Open Way to SUPKX)rt the OKEration of schods and libraries in the Sidama region of Ethiopia. as part of a wider pr(KJramme of acb'vrties for rural communities whith Band has supported for many years. Emergency relief grants for Tigray induded dedicated education activth'es for people affected by the conflict in the region Isee abovel. Water and Sanltatlon Grants tolalling £1,191,47512022". £250,000) were awarded to support water and sanitation projects in Ethiopia and Uganda. This included two grants lo Water Of£250.0￿ each to suppc<( the provision ofdean. sustainable water supplies for communities in Meraw (Amhara region) and Berbere (Oromia ￿910n1. Ethiopia. benefilling over 168.000 people in lolal. A grant of £550,000 was awarded to UNHCR to supply dean water for Somali refugees In the Mirqaa refugee settlement in Ethiopia. This ineludes the drilling of a new t)orehole, eonslruclion ol water harvesting faeililies and the reha￿'lItatIOn of existing water systems. Funds from both the BA30 and legacy reserves were ulilised lo support this project. Included within the project delivered by HelpAge International Isee Food Security & Livelihotxls section, above) is the conslruction of Shallow wells and rehabilitalion of water sources lo support pasloralisl communities impacted by drought in Borena, Ethiopia. £60,300 wa$ indL*Jed in the tokl granl of £150.000 to supwrt Ihgse activities. Finally, Band Aid awarded a grant of £81.175 lo Fc#)d for Ihe Hungry lo support the construction of clean water supply systems for communities in Lamwo th'slricl. Uganda. supplying drinking water lor over 1,500 people. In addition lo contributing to the health improvement the water Sup￿leS wll also be used lo support agricultural and livest¢xk production. All water and sanitation projects induded promotion of Sanitati￿ and hygiene training. and training for local communities in basic maintenance of water suP￿Y systems. Emergency relief grants for Tigray induded deth'caled water and sanilalion acts'vities for people affected by the onflict in the region (see above). Band Ald 30 {BA30) Projects No grants were awarded from the BA30 fund in the pwcKJ to suppx)rt post EL￿a ￿0very12022.. £nill. This was due lo reduced Ebola infection rates in Afn"ca generalfy a￿1 the ongoing work of organisations lo deliver preventative measures to minimise the risk of future Ebola outbreaks. Instead. the trustees agreed lo utilise the restricted funds in full to fund the provision of dean water for Somali refugees in the Mirqaa refugee settlement in Ethiopia. Restricted funds at the end of 2023 were £nil 12022.. £205,319) Any additional income from the BA30 single in future periods will be applied to projects that meet the 04.ecls of the BA30 fvnd. Fundralslng actlvltl8S During the year, the Band Aid 30 campaign rased £nil12022.' £3,204). Of Ihis amount, £nil12022.' £nill represents volunlary donations and £nil 12022.. £3.2041 royaMes from the sale of the single and other associated revenue streams. The Band Aid Charitable Trust Report of the trustees forthe year ended 30 November 2023 (continued) Structure. Governance and Management The Trust's status was formalised in a Trust Deed dated 26 April 1985, as amended by a scheme of the Charity Commissioners dated 24 January 2005. amende(l on 6 September 2¢X)5 and 14 November 2014. The amendment on 14 November 2014 to the charitys goveming d￿Ument created a separate branch of the charity lo administer funds from the Band ￿'d 30 camp•gn. The initial purwse ofthis branch was lo raise funds lo help fight the spread of Ebc4a in West Africa and support those affected by the virus. However, the objects of this branch are wder and include the rdief of sickness and the preservation of health among people residing permanently or temporarily in Athca or such other charits￿e 04.ects relating to Afn"ca as the trustees may from time lo lime delemiine. The trustees w￿* have served during the year and Sin￿ the year end are set OLrt on page 1. The Trust deed provides for a minimum 014 aNI a maximum of 6 Iruslees. ￿ere there is a requirement for new Iru$lee$. these would be identified and appointed by the remaining trustees. The chair of trustees is responsible for the induction of any new trustee vthich involves awareness of a trustee's responsibilrties, the governing document, adminislralive procedures. and the history and philosophical approach of the charity. A new Iruslee would receive copies ol the previous years, annual report and financial slalemenls and a copy of the Charity Commission leaflet The Essential Twstee.. What You m￿d to Know. The charity's advisors would also provide appropriate training and literature as required. The existing trustees have held office since the forrnation of the Trust in 1985. The Iru$tee$ are responsitle for all de￿s1￿$ and aLth¢yisaIi￿ of payments made from the Trust. They are the key management personnel. Documents are circulated lo the Iruslees by po$1 and ￿nall for their consideration and, where appropriate, for their aulhorisalion. Any issues that require input or discussign from all trustees are deall wlh via email. The trustees aim lo meet al least once per calendar year lo revithv the stslus of the Trust and discuss any relevant issues, as well as lo consider the future activrties of the charity. However, matters are ￿vieWed on an infomal basis throughout the year, and any immediate issues u points for discussion are dealt with by email. Publlc beneflt The trustees are aware of their ￿$[K$nsIbiltties for ensuring the charity operates for the public benefit and are c(yJnisanl of the Charity Commission guidance in this area. The sections of this report relating lo the Trust's grant making and charitable acts'vrties set out h¢)w we further achieve our charitable purpose for public ts?￿fit. During the year the charity has not aclively raised funds from the public. No professional fundraisers were used during the per1￿j and the charity has not voluntar￿Y registered wrth the Funthaising Regulator. Risk management The trustees have a duty to identr'fy and review the risks to wh￿h Ihe tharty is exposed and lo ensure appropriate controls are in pla￿ lo provide reasonable assurance againsl fraud and e￿Or. The trustees consider the principal risk in this regard lo be the award of grants to third paty organisalions and the associated reputational risk that could arise from the use of fvnds by third parties for unapproved activilies ouiside of the charty's objects. The trustees review all funding applications presented to them for considerats'on to ensure the proposed activities meet the charity's objects. The majonty of organisations funded by Band A"d are UK registered charrties which are themselve5 subject lo a high level of public scrutiny a￿j audit, have worked with Band Aid over many years and have a good track record for ¢Jelivering projects and rewrting to the ch￿ty on a limety basis. To the extent the trustees decide to consider a grant to an organisation it has not funded before they undertake enhanced due diligence on that organisabon and rts trustees. Initial grants lo new organisalions a￿ also ￿Stricted in syze. The Band Aid Charitable Trust Report of the trustees forthe year ended 30 November 2023 (e¢>ntinuedJ Financial review The total funds of the group at 30 November 2023 slcM)d at £4,889,517 {2022.' £4,974,271>, of which £4,889,517 12022". £4,768,9521 represents unrestricted reserves. The trustees will contsnue lo monitor the level of general reserves of the Trust lo assess the level of grant makirKJ in the future. During the year, Band Aid had total incoming resources of £2,398,13612022.' £1,897,876). A total of £2,482,890 12022.. £1,832,4621 was Comm￿ed lo Charrtab￿ aclivrties arKI related expenditure. All profrts realised by the tharty's trading subsidiary, Band Trading Limf(ed, are distributed to Band Aid under the Gift Aid scheme. The charity continues to operate wilh no clfice ￿ staff cosls aThJ none of the trustees or directors of ils subsidiarv&s receive any fees or expenses. Vve do. however. Incur nonO12022.. £40,000) a year but deemed a g¢X*d investment by the Iruslees. We spend a small sum £1,39412022'. £2,595) on slor4fr of some BaThJ AKI assets. Bray and Krais generously provide our leg81 services for free and have done so for more than 10 years with minor exceptions for specialist work. In recent years this indudes inrtial adwce on p)lenlial future projects including a Band ￿'d musical and Band Aid documentsry. Any fulure prqects. if approved. are expected lo generate income far in ex¢e$s of their fees. We had one legal dispute in recent years for vthid) we had to hire litigation lavryers,. the monles subsequently received were much more than the legal fees we incurred. The charty commiS￿On ingsled that we lake OLrt insurance polioes,. the cost of these are under £8,80012022'. £8,000) a year and are paid from our commercial income. As our comrnereial aetivilies increase, we have made the eommercial decision lo register our trademarks which is funded from our eommercial income, and we believe the protection and monelizalion of our assets is justified by the investment. We carefully negotiate and monrtor all sueh fees so that we are confident that we do not spend a penny more than we need to. being mindful of the need lo be compliant wlh wulalions and lo protect the interests of our donors and benefiaaries. The accounting standards require a proportion of our annual support costs to be apportioned in line with the grants we have awarded in the period. Thi5 allcKation is shown in Note 4 of the financial slalements. Plans for futurg p8rlod$ The trustees ¥MII conts'nue to fulfil the objw*ves ofthe charity ty arWwThJ all ftjlure income from the various sources to fijnd prciects that aim to help relieve hunger arKI povety in Ethiopia and the surrounding countries. Income generated from the Band 30 campaign will continue to be applied to projects in Africa lo support the rdief of sickness and the preservalion of healih generalty. This indudes projects designed to support Etrda prevention and recovery across Africa, as required. This pdicy will continue to be reviewed annually. In additi(￿, the Trustees wll continue to monitor the SU￿$$ of the prqecls they have funded in eadier pericxjs. Band and ils trading subsidiary will wnlinue to receive income fr¢xn the various copyrights held which will be used lo achieve the ot4'ectives of the charty. The Band Aid Charitable Trust Report of the trustees forthe year ended 30 November 2023 (e¢>ntsnued) Trustees. responsibilities in relation to the financial statements The Trustees are responsible for preparing the Annual Report and the finanaal statements in accordance with applicable law and Unrted Kingdom Generally AceeOed Accounting Pracb"ce, induding FRS 102 the Financial Reporting Standard applicable in the UK and the Republic of Irdand. Law applicable lo charf(ies in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the grwp's and parent charity's financial PDS11ion al the end of the year. In preparing those financial stalemenls, the trustees are required lo". Select suitable accountirg pclicies and then aFvly consistenlly.. Make judgements and estsmates Ihat are reasonable and prudent., Observe the methods and principles in the Chanties SORP.. State vhelher applicable accounting standards and sl*emenls of rec(Anmended practice have been followed subject to any departures disdosed and ex￿ained in the finanryal slatemenls,. and Prepare the financial statements on gc4ng concem basis unless il is inappropriate to presume that the group will continue in business. The trustees are responsible for keeping accounling recor¢Js whKh disdose wth reasonable accuracy al any lime the financial posrtion of the group and enable them lo ensure Ihal the finanual statements comply with the Charities Act 2011, the Charity IAccount$ and Report$) Regulations 2Tr)8 and the provisions of the trust deed. They are also responsible for safeguardirKJ the assets of the group and hence for taking reasonablè steps for the prevention and delects'on of fraud and other irreguk9rities. Approved by the trustees and signed on their behall.. 02 Sep 2024 R GeldofK8E Chairman & Trustee The Band Aid Charitable Trust Independent audltorfs report to the trustees of the Band Ald Charltable Trust Oplnlon We have audited the financial statements of The Band ChantableTrust Ithe'parenl charity'l and ils subsidiaries Ilhe 'group'l for the year ended 30 November 2023 whith comprise the Consolidated statement of financial activities. the charity statement of financial actiV￿.e$. the ￿nsol1￿ated and charity balance sheets, the consolidal&d cash flow statement. and notes forming part of the financial statements, induding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding FRS 102 The Financial ReportiryJ Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial statements.. give a true and fair view of the Stale Of￿ grcwp's aThJ parent tharty'$ affairs a$ at 30 November 2023 and of thè group's and parent charity's ineoming re$￿jr¢es and aFplicth"on of resourtEs, for the year then ended., have been proFerly prepared in acC￿danCe wth UnTted KirWom Generally Accepted Accountin9 Practice,. and have been prepare(l in accordarKe vrth the requirements ofthe Charilies Act 2011. Basls for oplnlon Vve conducted our audit in accordance with Internatior￿1 Star¥Jards on Audrting IUKI IISAS IUKII and applicable law. Our responsibilrties under those stèndards are further described In the Auditor's re5ponsibililies for the audit of the financial slalemenls section of our report. We a￿ Independent of the group In accordance with the ethical requirements that are relevant lo our audrt of the finanaal slalemenls in the UK. induding the FRC'S Ethical Standard, and we have fulfilled ¢xJr other ethical responsibilities in accordance wth these requirements. We beI￿ve that the audit evidence we have obtained is sufficienl and appropriate lo provide a basis for our opinion. Concluslons rèlatlng to golng concèm In auditing the finaneial slalements, we have C￿eluded that the trustees. use of the going concem basis of accounting in the preparation of the ffinanaal slalemenls is appfopnate. Based on the work we have perfomied. we have not idenlrf*d any malerial uncertainties relating lo events or conditions that. individually or colleclNely. may cast significant doubt on the group's ability to continue as a going concern for a period of al least twelve months frc¥y) when the financial ststements are authorised for issue. Our responsibilities and the responwbilit*s of the Iruslees %wth respect to going concem are described in the relevant sections of this reporL Other Inlomiatlon The other Informati￿ compnses the infomth.cn induded in the annual report other than the financial stslements and our auditor's report Ihereon. The trustees awe re$￿Sible for the other information eonlained wrthin the annual rewrt. Our opinion on the financial stslemenls d(*s Th)t cover the other infomialion and we do not express any form of assurance condusion thereon. Our resrx)nsibility is to read ihe other infomialion and. in doing so. consider whether the other information is materially inconsistent with the finanaal statements or our knth￿edge obtained in the course of the audit, or otheThwse appears to be malerially misstated. If we Identify such material inconsistenaes or apparent material misslatemenls, we are required lo determine whetherthis gives rise lo a materi81 misslalement in the finanoal slalemenls themselves. If. based on the work we have perfomied. we conclude that there is a material misstatement of this other infomiation, we are required to report that fa¢1. We have nothing lo report in this regard. The Band Aid Charitable Trust Independent auditorfs report to the trustees of the Band Aid Charrtable Trust (continued) Matters on which we are required to report by exception Vve have nothing to report in respect of the followng matters in relalion to whith the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if. in our opinion.. the information given in thè financial statements is ints)n&stenl in any material respect wlh the report of the trustees". of suffioent accounts'ng records have not been kept.. or the fIn￿CIal statements are not in agreement ￿th the a¢￿u￿ng reuyrd$', or we have not received all the information arKI eX￿anatiOnS we require for our audit. Responslbllltles of trustees As exklained more fully in the statement of trustees, resp(￿sibili(1e$. the trustees are responsible for the preparation of the finanoal stslements and lor being satisfied that they give a true and lair view. and for such internal control as the trustees delemiine is necessary lo enable the preparation of financial slalements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and parent tharity's ability to continue as a g￿n9 concem, disdosirvJ, as applicable, matters rdaled to going ¢oneern and using the 90ing ccfjeem bass of aeeounting unless the Iruslees either intend lo cease operations, or have no realistic attemative but lo do so. Audltor's responslbllltles for the audlt of the financlal ststements Vve have been appointed as audrtor under section 151 of the Charities Ad 2011 and report in aeeordanee with thè Act and relevant regulations made or having effect the￿under. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl, whether due lo fraud ¢y error. and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of a￿ulance bul is not a guarantee that an audit ¢onducted in a￿rdance with ISAS IUKI will a￿VaYS detect a material mis*atement when it exists. Misstatements arise from fraud or error and are considered material if. individualty or in the aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these fina￿la1 slalemenls. Irregularities, including fraud. a￿ instances of nowcfflpliance with laws and regulations. We design procedures in line with our responsibilrties, OLrtlined above, to delect material misstatements in respect of irregularities. including fraud. The extent lo vh)Ich (yjr procedures afe capable of detecliNJ irregularib"es. induding fraud, Is detsiled below. AS part of our planning Process.. We enquired of management the syslems and controls the charity has in place. the areas of the financial statements that are most susceptible to the risk of irregularth'es and fraud, and whether there was any known, Suspected or alleged fraud. The charty did not infomi us of any known, suspected or alleged fraud. We obtained an understanding oflhe legal and regulatoryframeworks applicable lo the charity. We determined Ihal the following were most relevant.. the Charty SORP, FRS 102 and Charities Act 2011. We considered the Ir￿entiveS and opportunities that e￿st in the charity, including the extent of management bias, which present a potenlol fix iNegularil*s and fraud to be perpetuated, and tailored our risk assessment accordingly. Using our kno￿edge of the charity. tOget￿r with the discusSi￿S held wth the charity at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities induding fraud and tailored our procedures accordiro to this risk assessmenL 10 The Band Aid Charitable Trust Independent auditorfs report to the trustees of the Band Aid Charrtable Trust (continued) Auditor's responsibilities for the audit of the financial statements {continued) The key procedures we undertook to deleLt irregularities indudirwJ fraud during the course of the audit included.. Identrfying and testing journal entrie5 the overdl accounting records, in particular those that were signrficanl and unusual. Reviewing the financial statement thsclosures and detennining ¥thether accounting poliaes have been approprialety applied. Assessing the extent of compliance, or l&k of. with the relevant laws and fegulalions. Testin9 key inc(me lines. in particular cut-off. for evidence of management bias. Assessing the validity of the da$￿fiCatIOn of i1￿Orne, expendrture. assets aThJ liabilities between unreslricled and restricted funds. Obtsining Ihir&paty confirmation of material bank balanr2s. Documenting and verfying all signfficant rel*ed paty balances and transactions. Reviewing documentation for discussions of irregulanties i￿lUding fraud. Testin9 all material consolidation adjustments. Owng lo the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misslalemenls in the financial slalemenls even though we have properfy planned and perfomied our audit in accordance with audrting standards. The primary responsibilty for the prevention and detection of irregularitie$ and fraud rests with the Iruslees of the eharty. A furthef description of our respMsikn"lities is available on thè Finanoal Reporting Counal's website al,. https.'IlwWw.frc.org.ukJaudilorsrespcnsibil￿es. This description lom)s part of our aL*Jilor's report. U80 of our roport Thi$ report is made solely lo Ihe tharity's twstees, as a body, in a￿ordar￿ wrth part 4 of the Charitie$ IA¢counl$ and Reports) Regulations 2008. Our audrt work has been undertaken so that we might slatè lo the charity's Irusleès those matters we are required lo stale lo them in an auditors. report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume ￿$￿￿￿sIbi1rtY lo anyone other than the charity and the charty's Iruslees as a body, for our audit work, lor this report. or for the oynions we have fomied. r¢¥v Andrew Rich (Senior Statutory Auditor) For and on behalf of HW Flsher LLP Chartered Aceountants Slalulory Audf(or Acre House 11-15 Wlliam Road London NW1 3ER United Kingd¢ Date 02 Sep 2024 HW Fisher LLP is eligib￿ for app￿ntrnent as audrtor of the charTty by virtue of ils elwibilty for appK)inlmenl as auditor of a company under of 5edion 1212 of the CompanEs Act 2006. The Band Aid Charitable Trust Consolidated ststement of financial activities for the year ended 30 November 2023 Unr•strictod R•strieted funds Funds Total Unrestricted Restricted 2023 funds Funds Total 2022 Note Incomefrom: Donations and legacies 110,683 110.683 37,798 37,798 Other trading activities 2.220.570 2,220,570 1,848,790 3,204 1,851,994 Investments 66.883 66.883 8,084 8,084 Total Income 2.398.136 2,398,136 1,894,672 3,204 1.897,876 Expendlture on: Raising funds 36.412 36,412 25,205 26,205 Chantable activ(ties 2.241,159 205,319 2,446,478 1,807,257 1,807,257 Total expond￿urO 2.277.571 205,319 2,482,890 1,832,462 1,832,462 Net movement In funds 120,565 1205.3191 184.7641 82,210 3,204 66,414 Funds balances brou9hl forward a11 December 4,768.952 205,319 4,974,271 4,7C6,742 202,115 4,908,857 Funds carrl•d forward 30 November 4,689.517 4,889,517 4,768,952 205.319 4.974,271 All amounts relate to continuing activities. All gains and losses rKognised in the year are induded in Ihe Ststemenl of Finarcial Ath'vits'es. The notes on pages 16 to 26 form part of these financHI statements. 12 The Band Aid Charitable Trust Charity statement of financial activities for the year ended 30 November 2023 Unrestricted Restricted funds Funds Totsl Unrestricted Restricted 2023 funds Funds Total 2022 Note Incomefrom: Donations and legacies 110.683 110.683 37,798 37,798 Other Ir8ding activities 2.344.793 2,344,793 1,717,791 3,204 1,720,995 Investments 60.200 60,200 7,399 7,399 Totsl Income 2.515.676 2,615,676 1,762,988 3,204 1,766,192 Expendlture on: Chantable activrties 2.234.020 203.827 2,437,847 1,799,117 1.799,117 Total èxpèndrture 2,234.020 203,827 2.437,847 1,799,117 1.799,117 Nèt movem•nt In funds 281,656 (203,8271 77,829 136,1291 3,204 132,9261 Funds balances brought forward al 1 December 4.096.685 203,827 431)0,512 4,132,814 200,623 4,333,437 Funds carrled foThvard 30 November 4,378,341 4378,341 4,096,685 203.827 4.300,512 All amounts relate lo eontinuing aetivrties. All gains and losses recognised in the year are induded in the Statement of Financial Activities. The notes on pages 16 10 26 fomi part of these financpl slalements 13 The Band Aid Charitable Trust Consolidated and charity balance sheets as at 30 November 2023 Charity Number 292199 Note Group 2023 Group 2022 Charity 2023 Charity 2022 Flxed assets Intangible fixed assets Investments in subsidiaries 1,583 1,978 1,583 1,978 Current assets Debtors Cash al bank 10 434.163 4793,710 787.145 4,564,398 382.420 4.296,092 637,177 4,OC6,598 227,873 5,351,543 4,678,512 4,643,775 Cfedltors: amounts falllng due wlthln one y•ar 1339,9391 (378.7571 1300,1751 1343,2671 Nèt currnnt assèts 4,887,934 4,972,786 4,378,337 4,300,508 Total assets less currnnt Ilabllltlos 4889,517 4,974,764 4,378,341 4,300,512 Provlsbon8 for Ilabllltlès 12 14931 Total net assets 4889,617 4,974,271 4.378,341 4,300,512 Income funds Unrestricted funds - general 13 4889,517 4,768,952 4,378,341 4,096,685 Restricted lunds 13 205,319 203,827 4,889,517 4,974,271 4,378,341 4,300,512 Approved by the trustees and authoris&J for issue ¢Jn 02 Sep 2024 and signed on their behaff by J P Kennedy OBE R Gekk)f KBE The notes on pages 16 to 26 fomi part of these financial statements. 14 The Band Aid Charitable Trust Consolidated cash Ilow statement for the year ended 30 November 2023 2023 2022 Cashflows from operatlng actfvltles Nel incoming resources Amortisation of intangible fixed assets Interest received on bank deposrtS Decreasellincreasel in debtors IDecreasellincrease in Creditors Decrease in provisions {84.7541 395 {66,8831 352,982 138.8181 14931 65,414 495 18,0841 193,7601 182,011 11241 Net cash infiow frcm operating acb'wties 162,429 146.962 Cashflows from Invostlng actlvltles Relums on investments and serviciNJ of finance. Interest received 66.883 8,084 Net cash inflow frcm investing activiti'&s 66.883 8.084 Increase in cash in the year 229.312 154,036 Nel funds at 1 Decemtser 4,W,398 4,410,382 Net funds at 30 November 4.793.710 4,564,398 Analysls of changes In nèt funds The charity had no debt during the year. The notes on pages 16 to 26 fomi part of these financ￿1 slalements. 15 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 Principal accounting policies The financial statements have been wepared under the historical cost convention and a￿ in accordance with Accounting and Reporting by Charities.. Stalement of Recommended Praclice aptAi¢able lo charrties preparing their accounts in accordance wth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) arKI the CharrtiesAct 2011. There have been no changes in accounting policies and the fdlowing are the wncipal used". The financial slalemenls have departed from the applicatAe regulations only to the extent required to give a true and fair view. This departure has involved following the Slalemenl of Reu)mmended Practice referred to above rather than the version wh￿h is referred to in the regulations bul which has since been wf(hdrawn. The financial slalements are Pfepared in sterfing. which is Ihe functional currency of the charrty. Monetary amounts in these finanoal statements are rounded to the nearest £. The consdidaled ffinane4al statements irt0￿¥r8le the financial statements of the charity and all of ils subsidiary undertakings. con￿lIdatI¢)n is ￿ a line by line basis. Golng eonc•m The Iruslees have a reasonable expectatson that the has adequate resources to continue in operation for the foreseeable future. Thus. the trustees have contmL*d lo a(*)pt the going concern basis of accounting in preparing the finanoal $tatemenl$. Parnnt company dlstlosur• exemptlons In preparing the separate financial slalemenls of the parent entity, advantage has been taken ofthe following disclosure exemptions available in FRS 102. No cash flow statement has been presented for the parent entity., Diselosures in respecl of the parent enlrty's finanual instruments have not been presented as equivdenl disclosures have been provided in respect of the group as a whole and". No disclosure has t)een given the aggregate remuneration of the key management personnel of the parent entity as their remuneration is i￿luded In the totals for the group as a whole. The following principal accounting pdicies have been applie(I'. Income Don81ions and legacies are recognised on 8 reeeNable basis a￿ iThSuded within the financial statements nel of value added lax. Other trading activities consi* of royalty ir￿OMe, whith is recognised on a receivable basis and is induded in the finanual statements net of value added tax. Investment income is recryJnised on a receNaNe basis. 16 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Principal accounting policies (continued) Expendlture Expenditure is accounted for as and lthen IncJj￿ed except for grants to rdief and development wojects, which are accounted for when approved and when payment affangements have been made. Projects approved by the Trustees, bul for which no payment arTarMJements have been agr￿d, are shown as comrnitmenls. Raisin9 funds Costs consist of dir￿1 and SUFPCfft costs incurred by tradir¥J subsidiaries. The costs ol charitsble a￿"v￿"e$ ir￿￿￿e grants made suprort costs incurred by the Trust. Support costs pollcy Supp¢yt costs, as summarised in notes 4 and 6, ￿ allocated in acawdance wf(h the undertying enlilies lo which they relate. All costs attnbutable lo the operation and day-tcrday running of the charty, induding professional fees, insurance, irrecoverable VAT and sI￿age costs. are disclosed within 'Charilable expenditure, and allocated against each category on a pro rala ba*s. proportional lo thè grants, issued in each category as a percentage of total grants award&J. All other costs inCUr￿d directly by the trading subsidiaries. indudiThJ professional fees, amortisalion of iniangible a$$els and exchange gainwlosses. are dixtjsed wf(hin 'Cosl of generalirrtJ funds,. G¢vernanee costs ccmpTise those eosts incurred in the 9ovemantè of the charity and its assets and are primarily assoaated with conslilutional and stalulory requirements. Intanglble assets Amortisation is provided lo write off the onginal ￿$1. le53 any impaifmerrt, le$5 estimated residual values, of licenses, evenly over their exp*rted useftjl lives.11 is calculated al the followng rates.. Live Aid DVD rights 20% per annum reducing balance An impairment review will te carried ¢JJt at the end ofe&* year rf events or changes in circumstances indicate that the carrying values may ncrt be recoverable. Forelgn exchange translollon Foreign currency Iransxb'ons are translated at the rales ruling when they occurred. Foreign currency monetsry asse15 are Iran51aled al the rates ruling at the balance sheet dale. Any differences are taken lo the statement of financial activities. DeferTBd taxation Deferred tsx balances are recognised in respect of all timing ￿ffjfe￿nces that have originated bul not reversed by the balance sheet date except that the recogniti'on of deferred lax assets is limited lo the extent that the company anticipates to make SLrfhcienl laxat4e proffits in the future to absorb the reversal of the underlying timing differences. Deferred lax balances are not disc(wnled. 17 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Principal accounting policies (continued) Restsleted funds Where funds are rec￿Ved for S￿ffic purFoses set out by the donor, these are shown as restricted income in the statement of financial activities. Expenditure for the purposes specified is applied against the income and any amounts unexpended at the balance sheet date are shown wlhin restricted funds. Financial instruments The ehanly has elected to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial inslrumenls. fin lin The entity only enters into basic financial inslnJmenls transactions that result in the recognition of financial assets and liabilities like trade and olhef debtors and creditors and loans to reL8led parties. Finanaal assets are initially measured al tranSact￿n price lincluding transaction costs) and subsequently held at cost, less any impairment. Finanaal liabilrties are initi'ally measured at transxtion price {including transaction costs) and are subsequently held al amortised cost. Valuatlon ol Inv9s¢ments In the enlty's individual finaneial slalements, investments in subsidiaries are measured al cost less accumulated impairment. Judgoments In •pplylng accounllng poll¢les and key sources of estlm•tlon uncertalnty In preparing these finanual stslements, the Iruslees have ccncluded that there are no critical accounting estimates oriudgemenls in the yew. Incomo Donatlons and legacles Group 2023 Group 2022 Charlty 2023 Charlty 2022 Individuals Trusts and Foundations Corporate grants 106,503 779 10,000 27,019 106,503 779 10,000 27,019 4.180 4.180 110.683 37,798 110,683 37,798 All donats'ons and legaaes received in 2023 and 2022 were unrestricted. 18 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Income {continuedl Other tradlng actfvltles Record and video royatties rec￿Ved during the year were £2,220,570 12022.. £1,851,994), of which £2,220,57012022'. £1,848,790) was unrestncted and £nil12022.' £3,2041 was restricted. haiit Record and video royakies waved ¢Juring the year were £2.344.793 12022.. £1,720.9951, of which £2,344.79312022. £1,717,791) was unrestricted and £nil12022." £3,2041 was reslri¢Xed. Investment Income Group 2023 Group 2022 Charty 2023 Charity 2022 Interest on cash deposits- received gross 66,883 8.084 60.200 7,399 All investrnenl inccffle in 2023 and 2022 was unrestritxed. Expendlture Rellef Governance gr•nts osts Support o$t¥ Total 2023 Total 2022 Islng fundy Fundraising trading 36,412 36.412 25,20S Charltable expendlture Water and sanitation Health Improvement Food securilyllivelihoods Education and assistsnce - Tigray emergency 1,191,475 118,350 144,5c#J 35.850 846,359 11,744 1,167 1,424 353 8,342 44,320 4,402 5,375 1,334 31,483 1,247.539 123,919 151,299 37,537 886.184 260,445 65,632 256,715 26,421 1,198,044 Totsl charitable expenditu 2,336,534 23.030 86.914 2,446.478 1,807,257 Total expenditure 2,336,534 23,030 123,326 2,482,890 1,832,462 19 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Expenditure (continued) All raising funds expenditure in 2023 and 2022 was unrestn"ded. Charitatle expenditure during the year were £2,446,478 12022.. £1,807,257), of which £2,241,159 12022.. £1,807,257) was unrestricted and £205,31912022.' £nill was restricted. Charilatle expendrture was £2.446,47812022". £1,807,257) ofvthich £2,336,53412022". £1,734,7811 was rdief grants, £23,03012022. £22,440} was g0Vema￿ u)sts, £86,914 {2022. £50,036) was support costs. Rellef Govemance grants costs Support Costs Total 2023 Total 2022 Charltable expend5tur• Water and sanitation Health improvement Food securilyllivelihocmjs - Educ*ion and assistance - Tigray emergency 1,191,475 118.350 144,5 35.850 846,359 44,118 4.383 5.351 1.327 31,339 1,243,137 123,483 160,766 37,404 883,OS7 259,271 65,336 255.559 26,302 1,192,649 750 915 227 5,359 Totsl charitable expendrture 2,336,534 14,795 86,518 2,437,847 1,799,117 CharilaNe expenditure during the year were £2,437.847 12022. £1.799,1171, of which £2.234,020 12022.. £1,799,117) was unreslricled and 203.82712022". £nill was restricted. Charitable expendrture wa$ £2.437,84712022.' £1,799,117) ofvknith £2,336,53412022.. £1,734,781) was rdief grants, £14,79512022. £14.7951 was g0vema￿e costs, £86.518 {2022". £49,$411 was support costs. Rollef grants 2023 2022 Rellef grants to Institutlons: African Childrens Education Trust Bntish Red Cross Food for the Hungry Hamlin Fistula UK Aciion Aid Help Age Intemalional Mary's Meals Open Way Water Aid Save the Children UNICEF UNHCR 50,000 250,000 18,611 50,000 81,175 146.3S9 300.000 150.000 200.000 109,000 500,000 200,000 66.170 250,000 400,000 500,000 250.000 550.000 2,336,534 1,734,781 20 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Relief grants (continued) 2023 2022 Relief grants by charitable activty.. Water and sanitation Heaf(h improvement Food secuntyllivelihoods Education and assistance Tigray emergency 1,191,475 118,350 144.500 35,850 846,359 250,000 63,000 246,420 25,361 1,150,000 2,336.634 1,734,781 Support costs Group 2023 Group 2022 Charlty 2023 Charlty 2022 Amortis*ion of intsrvJible fixed assets Accountancy fees Legal fees Trademark registrations Storage costs Registered office costs Bank charges Foreign ex¢hange10s3llgainl Insurance Irrecoverable VAT Ihholding taxes Sundry costs Deferred taXat￿n credit in respect of trading subsidiary (see note 121 395 62.7S4 6.$90 43,997 1.394 618 683 4,160 8.758 4.470 495 24.628 3.540 23,093 2.595 594 716 3.351 7.982 7.117 1.200 28.463 6,894 1,840 23,093 43.997 226 474 130 8.768 4.470 545 816 7,982 7,117 1,200 14931 11241 123.326 75,241 86.518 49,541 Governance 2023 2022 Audit fees 23.030 22,440 The audit fee for the Band ￿"d ChaTrtable Trust was £14,795 12022." £14,795). The ￿mainIng audit fees pertains to the audrts of (*her group entities. 21 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Intangible assets- Group Llve Ald DVD rlghts Cost At 1 December 2022 and 30 November 2023 1,600.000 Aecumulatedamortisatlon At 1 December 2022 Provided for the year 1,598,022 39S At 30 November 2023 1,598.417 Net book value AI 30 November 2023 1.683 At 30 November 2022 1,978 Inv￿lM￿nts In gubsldlarbes Investments hdd by the Charity inthde aM￿nIS invested in subsidiary compan*s.' Cost At 1 Decemter 2022 and 30 Noveml)er 2023 Country of Class of Company Incorpordtbnl shares Number reglstratlon held Percent Nature of Held buslnos$ Name Year end Band Aid Trading Limrted 05136974 United KirrfJdom Ordinary 1(# Commercial activities induding developmènt of licenses 30 November Band Aid Licenung Limrted 13272500 Unrted Kingdcrfn Ordinary 1(M Commercial activities under developynenl 30 November LNe 8 Limited 0542￿4 United Kingdom Ordinary 1(NF Domiant 30 November 22 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) Investments in subsidiaries (conlinued) Details of the net assets and trathng activrfies for the year to 30 November 2023 of the sut6idiary CoMpan￿S are as follows.. Band Ald Tradlng Limited Llvo 8 Llmltgd Band Ald Ll¢en¢lng Limited 2023 2022 2023 2022 2023 2022 Intangl￿e assets Nel current assetsllliabilitiesl Provisions for liabilrties 1,583 539.020 1.978 693,016 504 129.9291 121,2441 (493) Nel asselsllliabililie$l $40,603 694,501 504 504 129,9291 121,2441 Turnover Cost of sales 776,776 745,998 Gross profit Administrative expenses 77S,776 745,998 136,850) {28,9241 18,6851 14.5451 Operating profiUll¢Yosl 738,926 717.074 18,6861 14.5451 Interest receivatle Taxation 6.683 493 685 124 Profivllossl lor the finanoal period 746,102 717.883 18,8851 14.5451 Gift aid donations 1900,0001 1615.0001 Allocat￿￿ within Ihe consolidaledslalemenl ollinancial activlies The tumover of Band Trading Limited has been I￿uded wlhin the incoming resources category of record and video royatties and donation5 as appropriate. Live 8 Limited was dom)anl 1hrcW￿0Ul the year. Band Aid LI￿nCIng Limr(ed was incorporated on 17 March 2021 and began trading on this dale. The administrative expenses of the entity have been induded wrthin the expenditure from ra15ing funds. 23 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) 10 Debto Group 2023 Group 2022 Charlty 2023 Charlty 2022 Trade debtors Prepayments and accrued income Amounts owed by group undertakings Olhw debtors 28.78S 405,378 20,493 390.802 22,675 253,049 106.696 16,447 247,730 375,850 373,000 434.163 787.145 382.420 637,177 All amounts shown under debtors f811 due for payment Trmthin one year. 11 Credltoys: amounts falllng due wlthln one year Group 2023 Group 2022 Charfty 2023 Charlty 2022 Trade Credrtors Other taxes and social security costs Grants payable Accruals and deferred income 1,810 54,420 223.3S9 60,350 22,497 37,105 280.535 38,620 14,777 29,286 280.535 18,669 42,919 223,3S9 33,897 339.939 378.757 300.176 343,267 12 Provlylons for Ilabllltles Deferred taxatlon Group Balance al 1 December 2022 c￿dit to stslemenl of financial activilies 493 14931 Balance al 30 November 2023 24 The Band Aid Charitable Trust Notes forming part of the financial statements for year ended 30 November 2023 (continued) 12 Provisions for liabilities {continuedl Provlded Unprovlded A$at 30 November 2023 Asat Asat 30 November 30 November 2023 2022 Asat 30 November 2022 Capf(al allowances in excess of depreciation Short tem b.ming differences 14931 51,085 6,150 Deferred tsx Iliabilityllassel 14931 51,085 6,150 13 Statement ol funds General funds R￿trIct&d Funds Total At 1 D&embèr 2022 Income Expenditure 4,768,952 2,398,136 {2,277,5711 205,319 4,974,271 2,398,136 12,482.8901 1205,3191 AI 30 November 2023 4.889.S17 4.889.617 Restricted lunds... Grants lotalling £205,31912022.. £nill were awarded from the restricted fund in 2023. Of this amount, £nil 12022. £nill was applied lo posl-Ebola Tecovery activities and prevenlalive measures designed lo minimise the risk of future Ebda. AJI funds were lo an emergency water and sanitation project for Somali refugees in Ethiopia. haril General Fund$ Restrlcted Fund$ Total Al 1 Decemt*r 2022 Income Expenditure 4,0￿.685 2,515,676 {2,234,020} 203,827 4,300,512 2,515,676 {2,437,8471 1203,8271 AI 30 November 2023 4.378.341 4.378.341 25 The Band Aid Charitable Trust Notes formlng part of the financlal statements for year ended 30 November 2023 (continued) 14 Transactlons concernlng Trustees During the year. none of the Irustees th) are the key management personnel lor any person connected lo them) recaved any remurEration or reimbursed expenses12022'. nor*l. During the year a t(rtal of £8.758 was pall for trustee indemnity insurance12022.' £7,982) all of which was purchased difecdy by the Trust 15 Anatysls of net assets between funds Unrnstrlcted funds Restrlcted funds Total Fixed assets Current assets Creditors falling due wth'n one ye¥ Provision lor liabil￿8$ 1,583 5,227,873 1339.939) 1,583 5,227,873 1339,9391 4,889.617 4,889.617 Unrnstrtct Funds Rèstrfctèd nds Total Investments in subsidiaries Current assets Creditors falling due wth'n one y 4,678,512 1300.175} 4,678,512 1300.1751 4.378.341 4,378,341 16 Related party transactlons Four oflhe Trustees of the charity are D1￿ctOrS of Band Aid Trading Limited, two of the Trustees oflhe charity are Directors of Band Aj'd LIce￿Ing Limf(ed and three of the Trustees of the charty are D1￿CtorS of Live 8 Limited. J Kennedy and H Goldsmith jointly own 100% of the share capital of LNe 8 Limited and Band Trading Limited in their caparyty as Trustees of the charity. J Kennedy and R Geldof joirrtly own 100°k of the share capital of Band Aid LI￿n￿ng Limited in their capacity as Trustees of the chanty. During the year. Band Aid Trading Limited. a subsKliary. distributed £900,00012022.' £615,000> lo the charty. Band Aid Licencing Limrted owes The Band Charitable Trust amount totalling £1,140 {2022'. £nill. The balance was provided Interest free and is repayable on demand. Band Aid Trading Limrted owes The Band ￿"￿ Charitable Trust lotslling £105,556. The balance was provided interest free and is rePaYa￿e on demand. 26