## WORLD EDUCATION BERKSHIRE **A N N U A L R E P O R T 2 0 2 4** ## **WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024** ## CONTENTS |CONTENTS
**ORLD EDUCATION**
**RKSHIRE**
**NUAL REPORT**
**24**|CONTENTS
**ORLD EDUCATION**
**RKSHIRE**
**NUAL REPORT**
**24**|| |---|---|---| |Introduction||| |1.|Trustees' Summary|9| |2.|Financial Overview|12| |3.|Financial Review|14| |4.|RISC’s Programmes|16| |5.|Programme Summaries|17| Appendix A Full Financial Statements ## INTRODUCTION WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year end 31 May 2024. ## **Reference and Admninstrative details** Registered charity name World Education Berkshire Charity registration number 293799 Company registration number 01987368 Principal office and registered 35-39 London Street Office Reading Berkshire RG1 4PS ## **The trustees** Katherine Burton Colin Date (Secretary)† Daniel Hannibal Obiageli Onyekpe Karen Peters Adam Peters Summreen Sheikh **Operating name** Reading International Solidarity Centre ## **Website** www.risc.org.uk **2** Board of Trustees, World Education Berkshire ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year end 31 May 2024. ## **Our advisers** ## **Independent Examiner** H B Mistry FCA FFTA H B Mistry & Co Ltd Chartered Accountants Tudor House, Mill Lane Calcot, Reading Berkshire RG31 7RS ## **Bankers** The Co-operative Bank 13, New Road Oxford OX1 1LG Triodos Bank Deanery Road Bristol BS1 5AS ## **Solicitors** Hewett Solicitors 55-57 London Street Reading RG1 4PS **3** Board of Trustees, World Education Berkshire ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end are listed below. ## **Key Management personnel: Trustees and Directors** Colin Date† Katherine Burton Adam Peters Karen Peters Daniel Hannibal Obiageli Onyekpe Summreen Sheikh ## **Key personnel: the Collective** |**RISC Team**|**Collective Member**| |---|---| |Buildings|Martin Mikhail and Fiona Grant| |Education|Kirsty Dabbs and Manju Patel-Nair| |Gardens|Dave Richards| |Finance|Annamieke Palmer| |Events|Zainab Khan| |World Shop|Silvia Rizzoli| ## **Company Secretary** Colin Date† **Independent Examiner** Harish Mistry **4** Board of Trustees, World Education Berkshire ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 ## **Structure, governance and management** The Trustees are pleased to present their annual report together with financial statements of the charity for the year ending 31 May 2024 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2015). ## **Objectives and activities** The company's principal objectives and activities (as per the programmes of Reading International Solidarity Centre/RISC), according to the Memorandum of Association are to: Promote, maintain, improve and advance public education, particularly by the promotion of education in world problems of hunger, disease, poverty and ignorance and the solution thereof and the economic and other problems of developing countries in their relationship with other countries whose economies are better advanced and developed. Promote the voluntary sector by the provision of shared office space and facilities. The main objectives and activities of the charity for the year continued to be to focus on the promotion and advancement of public education. Board of Trustees, World Education Berkshire **5** ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 ## **Related parties and co-operation with other organisations** None of our trustees receive remuneration or other benefits from their work with the charity. They are entitled to ask for travel expenses or help with child care arrangements if they wish. Any connection between a trustee and any of the employees, or any related connection in the field of RISC's work must be disclosed to the board in the same way as any other contractual relationship with a related party. The charity has a very close relationship with BAFTS Fair Trade Network UK as at least two of the Collective often host and attend their meetings/conferences. Similarly, we are a prominent member of The Global Learning Network (formerly the Consortium of Development Education Centres (CoDEC)) as we are the largest such centre in the UK. We enjoy close links with British Islamic Gardens. Now we have several close ties with different departments at the University of Reading working with the Education Team and the Food4families Team. Locally, RISC is a very important part of the following organisations and charities: - Reading City of Sanctuary Group - Reading Fairtrade Steering Group - Reading Food Growing network - Reading International Development Forum - Reading San Francisco Libre Association - Reading Voluntary Action (RVA) - Royal Berkshire Hospital ## **Risk management** An aspect of ensuring the trustees are aware of the health of the organisation is that at board meetings the finance co-ordinator is present to help us interpret the financial figures which include year to date comparisons by month of the trading aspects of RISC and the overall financial position. There is also a trustee with accounting experience now on the board to help us interpret the figures and to consult with our Finance Co-ordinator. **6** Board of Trustees, World Education Berkshire ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 ## **Trustees' responsibilities statement** The charity trustees, who are also the directors of WEB/RISC for the purposes of company law, are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (Generally Accepted Accounting practice). Company law requires the charity trustees to prepare financial statements for each year which gives a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure for that period. In preparing the financial statements the trustees are required to: - select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume 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 Companies Act 2006. They 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. **7** Board of Trustees, World Education Berkshire ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 ## **Remembering Colin Date** 1950 to 2024 We pay tribute to a dear colleague and friend who passed away in 2024. Colin Date offered thoughtful and generous service to the organisation in multiple ways over many years, most recently as Company Secretary for RISC/WEB. Always ready with a smile and a hearty welcome, Colin’s presence at and contributions to RISC extended much-needed warmth and kindness in challenging times. He will be missed by all who were fortunate to meet him. The Trustees and all at RISC extend their heartfelt condolences to Colin’s family. **8** Board of Trustees, World Education Berkshire ## WORLD EDUCATION BERKSHIRE ANNUAL REPORT 2024 ## **Statement as to disclosure to our independent examiner** In so far as the trustees are aware at the time of approving our trustees' annual report: - There is no relevant information, being information needed by the independent examiner in connection with preparing their report, of which the charity's independent examiner is unaware, and The trustees, having made enquiries of fellow directors that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant independent examination information and to establish that the independent examiner is aware of that information. ## **Plans for future periods** The charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Recent performance and future plans are highlighted for each activity area under Section 3: RISC Programmes. Separate reports have been provided by the collective leads for the Events, Education, Food4families, The World Shop, Global Refills Shop, and the Buildings and Community Facilities teams. The trustees' annual report and the strategic report were approved on 15 January 2025 and signed on behalf of the board of trustees by **Karen Peters.** ## **Name:** ## **Signature:** Karen Peters (See Appendix A for this year’s accounts.) **9** Board of Trustees, World Education Berkshire ## 1. TRUSTEES' SUMMARY ## **For the financial year ending May 2024** Reading International Solidarity Centre's (RISC) programmes, projects and activities continue to uphold the mission of spreading awareness and understanding of inter-relationships between individuals in their local communities to world issues. The Trustees present the following highlights from the 2024 programme summaries included in this report: - The World Shop continues to attract shoppers and generate a surplus for RISC, despite some of the challenges associated with high-street trading. - RISC's programme of events continues to offer spaces to discuss alternative sustainable economic models of governance based on people’s needs over profit. All events offer an online option to increase inclusivity. - Despite limited resources, RISC’s newsletter has increased its circulation from 61 email subscribers at the start of 2020 to 211 subscribers in 2024 with a much wider social media reach on Facebook, twitter (now X) and Instagram. - Over 120 user groups have booked rooms over the past year. RISC continues to welcome new users to the centre, which is open 7 days a week from 8am through to 11pm. - Meeting room bookings are showing good signs of re-growth, due in large part to effective booking systems and the addition of online meeting functionality to in-person meetings at RISC A successful application to Reading Community Energy Society submitted to support secured funding for replacing lights with energy-saving LEDs Cont... **1 0** Board of Trustees, World Education Berkshire ## TRUSTEES' SUMMARY ## **For the financial year ending May 2024** The Education team have been delivering a Whitley schools Identity workshop programme. This work is commissioned by Creative Lives and supported by funding from a successful proposal. - Work with the Earley Charity continues to progress well and spark new opportunities for engaging with education training organisations within and beyond Reading. - Food4Families is undergoing management review and trying to create a sustainable structure that is able to respond to the increased demand for our expertise - Food4Families has been invited to take part in workshops for RBC planners and Berkshire Constructing Excellence Club. - The IER (Incredible Edible Reading) vision continues to evolve and is gaining traction. The national profile of the Incredible Edible brand gives a clear framework for building on Food4Families’ successes over the past 14 years. - Overall, RISC's financial situation remains a challenge. We finished this financial year with a deficit of £22,125. - The funding climate for education and community engagement continues to present challenges for RISC's programmes, prompting new strategic approches to securing funding. **1 1** Board of Trustees, World Education Berkshire ## 2. FINANCIAL OVERVIEW This is a high-level summary of the FY24 vs FY23 finances including: Income profile and % change year on year. Costs of trading and charitable activity _See Appendix A for Full Financial Statements._ **----- Start of picture text -----**
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**TABLE 1. FINANCIAL OVERVIEW** **1 2** ## FINANCIAL OVERVIEW CONT... _See Appendix A for Full Financial Statements._ For the year ending 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors' responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. In common with many other charities of our size, we use our independent examination to assist with the preparation of the financial statements. These financial statements were approved by the board of trustees and authorised for issue on 15 January 2025, and are signed on behalf of the board by: Karen Peters, Trustee **1 3** Company registration number 01987368 ## 3. FINANCIAL REVIEW ## **Principal Funding Sources** TThe charity received £79,379 in grant income (2023 £76,914) of which £79,379 was restricted to specific projects. Trading income from World Shop and resources centre generated £145,289 (2023 £156,088). Global refill shop generated £59,760 (2023 £53,718). Centre income amounted to £105,091 (2023 £98,109). The rental flats generated £32,375 (2023 £35,445). The charity also received £7,950 (2023 £10,029) in donations and £457 (2023 £312) in Bank Interest. Other income comprise of asset disposal proceeds of £12,500. (2023 Nil). The gross income of the charity was £442,800 (2023 £430,615) and total expenditure was £464,925 (2023 £455,365) leaving a deficit of £22,125 (2023 deficit £24,750). ## **Investment powers and policy** Under the Memorandum and Articles of Association the charity has the power to invest in anyway the trustees wish. The trustees, having regard to the liquidity requirements of operating the charity and to the reserves policy, have operated a policy of keeping available funds in a bank current and deposit accounts. ## **Reserves policy and going concern** The trustees have established the level of reserves that is those funds that are freely available, that the charity ought to have. Reserves are needed to ensure working capital is available and to bridge the gap between spending on activities and receiving resources through grant funding and sales of resource materials. Reserves are also held to cover possible emergency repairs to the centre, meet loan obligations and other expenditure. The trustees therefore consider that the ideal level of free reserves, whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 4 and 6 months of the expenditure. Monthly budgeted expenditure averages £40,000. The target for free reserves is £120,000 to £240,000 in general funds. At the year end, the free reserves in the general funds stand at £166,790 (2023 £184,116). The strategy is to continue to build reserves through planned operating surpluses over the next few years, thus ensuring that the charity can continue to operate in this era of austerity and economic uncertainties. The year ending 31st May 2025 is likely to be a challenging year in terms of raising Grants to fund the activities of the charity. The trustees are forecasting a deficit for the year ending 31st May 2025. The deficit will be managed through cost containment and existing reserves. The Trustees are actively seeking to improve existing income streams and Grant funding to cover its operating costs. **1 4** INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORLD EDUCATION BERKSHIRE YEAR ENDED 31 MAY 2624 l ￿pOrt to the trustees on my examination of the tinan¢ial statement5 of World Educatlon Berkshlre {*he charbtv) for the year ended 31 May 2624. Responslbllttles and basls of report As the trustees of the company land also its directots for the pu￿¢se5 of ¢ompary law) you are responsible for the preparation of the financial statements in accordance with the requirements of the C¢Jmpanles Act 2&66 Ilhe 26616 Act.). Having satisfied myself that the accounts of the company are not requlred to be audited under Part 16 of the 26$6 Act and are eilgibie for independent examination, I report in respect of my examinatlon of the charity's accounts as carried out under section 145 of the Charities Act 2611 ('the 2@11 Act'l. In carrying out my examination I have followed the Directfons given by the Charlty Commission under section 14515llbl of the 2@11 ACL Independent examinefs statement I have compLeted my examination. I confimi that no matters have come to my attentlon In Connectlon with Ihe examlnation giving me cause to belleve: 1.actountlng records were not kept in respect of the charlty as required by sectlon 386 of the 2@&6 Art or 2the financial ststements do not accord wtth those records: or 3.the flnanclal statements do not comply with the accounting requirements of section 396 of the 28&6 Act other than any requlrement that the accounts give a and lalf vlem which Is not a matter considered as part of an independent examlnatlon: or 4.the financial ststements have not been prepared In accordance with the methods and prindpLes of the ststement of Recommended Practlee for accountlng and reporting by charities appllcable to charftles preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 11112). I have no concems and have come across no other matters Tn connectlon wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. H B Mlstry FCA FFfA Independent Examiner HBMlstry&Co Tudor House Mill Lane Date 2/5tr- - ?DZ( Calcot Readlng RG317RS ## 4. RISC'S PROGRAMMES RISC aims to spread awareness and understanding of the inter-relationships between individuals in their local communities and world issues. RISC also works to develop the skills, attitudes and values that enable people to take control of their own lives, and to work towards a more just world. These various aims were embedded into our **Global Citizenship** work. We also reach the community through coordinating events which bring together many similarly minded groups in Reading through the two long running annual events of the **Reading International Festival** and participation in **Fairtrade Fortnight** . We provide a programme of other events throughout the year including a flourishing book group and a besides speakers on various topics. Our very popular urban roof garden attracts wide interest and the associated outdoor classroom work encourages sustainability and global education. RISC's **Food4families** project gives practical help and advice for communities to set up their own allotment schemes and courses on preparing healthy meals from the vegetables they grow. Several **meeting rooms** provide affordable meeting space for local groups and this remains one of our priorities; our success in achieving this is shown by the fact that 79% of the room usage over the year is by local groups. Our community office spaces provide a steady source of income and they have shown 100% occupancy throughout the year. The strategies employed to assist the charity to meet these objectives included the following: - Continuing to promote our in house produced resources such as teaching packs. - Organising a programme of events and exhibitions on global issues. - Developing an urban roof garden for local and global education. Promoting campaigns on local and international issues. - Providing a loan service of artefacts and education packs for school and youth workers. - Selling fair trade, organic and environmentally friendly products. - Giving work experience opportunities for volunteers. - Selling books and development education resources, fiction and non-fiction for children and adults on global issues. - Provision of shared office space and community facilities. Putting these strategies into action we have seven major areas of activity which are: an educational project and programme, a public events programme, the Food4 Families project, the roof garden, the world shop and the letting of a hall, rooms and office spaces for community use. A more detailed set of programme summaries follows in the pages below. The Trustees extend their thanks to all Collective Members, Staff and Volunteers for their dedication and commitment to RISC during 2024. **1 6** ## 5. PROGRAMME SUMMARIES ## **Events Team** This year’s public events programme explored the links between social and economic injustice with environmental degradation and climate change as well as addressing more urgent current issues. The events offered a space to discuss alternative sustainable economic models of governance based on people’s needs over profit. RISC’s events continue to provide a space for the discussion of sustainable solutions that put people and planet ahead of profit. ## **Highlight events during 2023/2024** - Jul 26 ’23 Practical Steps to living within planetary boundaries - Sep 27 ’23 The Debt Crisis – Building Solidarity, Winning Justice - Oct 20 ‘23 Slavery, Free Labour & Fair Trade - Nov 8 ’23 book launch Pharmanomics: How Big Pharma Threatens Global Health - Nov 9 ’23 This Christmas, don’t just buy, Buy Just - Jan 24 ’24 Courageous Campaigners in Colombia Mar 27 ’24 Let’s clear the way for a Fossil-Free Future May 12 ’24 Palestine – News From Fair Trade producers May 22 ’24 There’s Water & then… There’s Water **1 7** ## **Reading International Festival 2023** The theme was Unite and **Act for Human Survival** . A successful programme of 20 events and exhibitions. The festival included Black History month events taking place locally. Estimated attendance is 2,000 people. ## **Fairtrade Events 2024** This year, the focus of Fairtrade Events is on celebrating the 30th anniversary of the Fairtrade mark and to use the publicity as an educational tool to remind people about the principles of fair trade. ## **RISCY News Newsletter** RISC’s newsletter has increased it’s circulation from 61 email subscribers the start of 2020 to 211 subscribers in 2024 with a much wider social media reach on Facebook, twitter and Instagram. The newsletter continues to provide not only updates on RISC’s activities but also an update on international news and campaigns. The plan is to continue producing RISCY News as a monthly newsletter during the next year. ## **Z A I N A B K A H N** Events Coordinator, RISC collective member **1 8** ## PROGRAMME SUMMARIES ## **Building and Facilities Team** The building is managed by a team of two, with a part-time paid staff member providing administrative support. Our three caretakers continue to service the meeting rooms and communal areas of the building. We have seen usage of our community facilities recover to pre-covid levels with 128 groups booking rooms over the year. It is very encouraging that most of our user groups have returned to face to face in person meetings. We have also welcomed completely new users to the centre and continue to be open 7 days a week from 8am through to 11pm. We continue our commitment to offer community meeting space at affordable rates. _Thank you so much for accommodating us at such short notice. I was so impressed with the space and everyone was very complimentary. A genuine community asset!!_ Health and safety remains an important aspect of building management. Risk assessments and other documentation are regularly reviewed and updated. A schedule of servicing and testing of appliances, installations and safety equipment is carried out throughout the year to ensure compliance. One of the main issues we have had to deal with over the last year has been operating whilst being encircled by building developments which have continued to cause major problems on a daily basis including noise, dust and access issues. **1 9** The biggest challenge we continue to face is the escalation of staff and running costs together with the rises in interest rates that have significantly affected the cost of our mortgage repayments. We are constantly monitoring and looking for ways to reduce our overheads, for example our broadband and phone system has been switched from analogue to a digital cloud based system at c.50% saving. A successful grant application to Reading Community Energy Co-op enabled us to replace the remaining fluorescent lighting in the building with energy saving LEDs. ## **Offices and flats** Over the year the flats and community offices have remained fully occupied. **F I O N A G R A N T A N D M A R T I N M I K H A I L** Facilities & Centre Coordinators, RISC collective members **2 0** ## PROGRAMME SUMMARIES ## **World Shop and Global Refills Team** The shops have seen a few changes in staffing throughout the year. _A wonderful resource and ethical zero-waste community store … we love you! Thank you! G_ lobal Refills Customer Sarah Stevens was promoted as Global Refills and Cafe’ Coordinator in August and plans to reopen the Café’ were made. Sadly, Sarah had to leave us by Christmas, so a new Refills Coordinator has been appointed in February: Mujtaba Qaderi. Although the Café’s re-opening had to be shelved, we have introduced a hot drinks take-away service. The World Shop staff have continued supporting the Refills shop twice a week, but the two shops are now run separately. Staffing costs and lower Christmas sales have been the main reasons for the shop’s small loss, however the takings in the Refills Shop have been particularly encouraging and continue to increase month by month. Cutting costs has been a main focus for the World Shop Coordinator, and promoting both shops on social media has been shared with the RISC events coordinator. Two successful events were hosted, one with four different fairtrade suppliers in the lead up to Christmas and a Zaytoun event in May for World Fair Trade Day that updated us on the situation olive farmers face in Palestine. The Bafts Fair Trade Network UK conference was held in Edinburgh this year and was attended by Martin and Silvia. It is always a good opportunity to find new suppliers and share information with other fair traders. **2 1** A new IT challenge has been dealt with and the book database is now integrated in the World Shop EPOS system. After many attempts to find an alternative system, this has proved to be the most cost-effective solution. Shop promotional postcards have been distributed in the new town centre blocks of flats. This has been ongoing and hopefully by raising our profile has brought in a few new customers. **S I L V I A R I Z Z O L I** World Shop Coordinator, RISC collective member **2 2** ## PROGRAMME SUMMARIES ## **Education Team** The Education Team’s projects reached over 1,000 people in Reading. TThe RISC Education Team comprises two part-time coordinators whose hours total 0.8fte. They work with Universities, Local Authorities, Schools and students to promote a fairer world through the principles of Global citizenship. The term 'citizenship' reflects the ethos of action taking and about how we, together with children and young people, become aware of how our lives contribute positively and negatively to the lives of others. ## **Headlines for the year** This year's work by the education team has been generously supported by the Earley Charity who have funded a ‘Climate Education and Action’ project within the Earley Charity Area of Benefit. This has enabled us to work with educators in the formal and informal education sector to create new climate action resources which are relevant to our local area while connecting us to the global community. The funding also enabled us to run workshops at community festivals and events in Reading so we could share our climate action messaging with the wider community. We engaged with 1,121 people to promote climate action in our community. ## _Identity project in collaboration with the Reading Cultural Education Partnership._ We delivered school based sessions to 180 pupils and their teachers which used critical thinking techniques to help children explore and express what makes them individuals and as such, special. We looked at the values we have in common with other people regardless of where they live in the world, then used Ghanaian Adinkra printing blocks on fabric to show this learning in a visual form. Students added their own identity symbols before six class banners were created to celebrate their identity and diversity. These were displayed in a showcase of this Creative Lives funded project. **H I G H L I G H T** **2 3** **B E I N G A B L E T O C O N N E C T Y O U N G P E O P L E I N O U R C O M M U N I T Y W I T H T H E I R G R E E N S P A C E S , E S P E C I A L L Y S E E I N G T H E A W E A N D W O N D E R I N T E E N A G E R S P I C K I N G A N A P P L E F R O M A T R E E F O R T H E F I R S T T I M E I N T H E I R L I V E S .** ## **Insights gathered** Through collaboration with the Global Learning Network, ‘A case for Global Learning’ document has been produced which is being used to campaign for a revised education curriculum that has the sustainability of people and planet at its core https://www.thegloballearningnetwork.org/uploads/The%20Case%20for %20Global%20Learning/TC4GL%20-%20FULL%20- %20Compressed.pdf This document has shaped our response to the government's curriculum review and call for evidence. ## **Challenges addressed** Funding is still the biggest challenge with multiple bids completed by RISC, The Global Learning Network and in collaboration with other groups being unsuccessful. We will continue pursuing future funding opportunities and hope that the time spent campaigning for changes in the curriculum and inclusion of the Global Citizenship approach to teaching and taking action comes to fruition. Fantastic progress has been made in developing our new website and as soon as this is operational we can update the Education team content to reflect our current training offer. Marketing ourselves will be easier and we can start generating income from our loans boxes once again. ## **Notable Community Engagements** - Climate Justice training for trainee teachers at the University of Roehampton, Middlesex University and the University of Reading. Collaborating with the University of Reading Climate education team and inputting the Global perspective into their National Climate Education Action Plan. - Delivering Global Teacher Award training to secondary teachers Presenting our Global Citizenship and anti-racism training at West Berkshire schools alliance of secondary schools. - Family food days in Whitley with UoR FoodSEqual project - Delivering family activity workshops to over 1,000 people at Reading Climate Festival, Water Fest, East Reading Festival and 6 smaller community events - Collaborating with Incredible Edible Reading to create and deliver family friendly food growing activities, create resources and host community events. Campaigning for ‘The Right to Grow’ movement. - Taking part in Reading Borough Councils ‘Designing Net Zero’ conferences and planning days. - Creating 2 new schools loan resource boxes with books, global artefacts, activities and fact laminates. **K I R S T Y D A B B S & M A N J U P A T E L - N A I R** Education Coordinators, RISC collective members **2 4** ## PROGRAMME SUMMARIES ## **Gardens Team** A strategy for Incredible Edible Reading is beginning to emerge from the partnerships and projects that F4F has developed over the past few years. These reinforce the importance of community food growing nationally (and beyond) as an approach to address inequality, food poverty, climate crisis, community resilience and health and wellbeing. Highlights from this year's F4F and IER activities include: - Despite ongoing funding challenges it has been a positive year for F4F: _I’ve found having a go at sculpting to be very therapeutic, the process, and doing it outdoors in some great weather. Combined, that’s definitely a winning situation for great mental well-being!_ Sarah, Aisha Mosque volunteer - Demand for community food growing spaces continues to grow. We are constantly being approached by schools, community centres and faith groups for advice and support to create new garden spaces. These include Spiritual Foundation Wellness Centre, Lyndhurst Community Centre, University of Reading and South Reading Community Centre. - We have been able to continue regular gardening sessions at Holy Brook Nook, Royal Berkshire Hospital, Erleigh Rd with support from Reading College, Activate Learning. Although there is limited potential for securing core funding that would enable us to employ a coordinator, we have been successful with several bids for smaller pots, notably from University of Reading, Reading Borough Council and Berkshire Community Foundation, that will keep our gardens growing into 2025. - F4F continues to make the case for Community Food Growing (CFG) to policy makers at local and national levels. The benefits for health and wellbeing, social cohesion and community resilience are being recognised. The report from the research project into Community-led Policy Innovation with the Open University and CFG groups in Runneymede & Spelthorne, Southwark and Lambeth has been published. We are also making the case for CFG in Reading Climate Action Network’s process to update Reading’s Net Zero Strategy. - F4F has also on the steering group that is developing the Reading Food Partnership that aims to create a pathway towards more sustainable, climate-friendly and equitable local food system. **2 5** ## **Next Year's Focus** Using the Incredible Edible Reading (IER) vision we have been able to engage with several of the major urban regeneration projects that are transforming central Reading. All are interested in embedding CFG in their developments and have proposals to provide long term funding. We have been invited to take part in workshops for RBC planners and Berkshire Constructing Excellence Club. The IER vision continues to evolve and is gaining traction. The national profile of the Incredible Edible brand gives a clear framework for building on F4F’s successes over the past 14 years. This is especially important as RISC’s financial situation has become more precarious. In order to reduce head count we are considering re-structuring F4F’s activities: separating schools-based work (remaining within the RISC education team) and community food growing coming under the Incredible Edible Reading banner. **2 6** **D A V E R I C H A R D S** Gardens Coordinator, RISC collective member ## **APPENDIX A FULL FINANCIAL ACCOUNTS** **World Education Berkshire Company Limited by Guarantee Company Registration Number: 01987368 Charities Commission Number: 293799** **Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2024** 1 ## **World Education Berkshire Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2024** ## **World Education Berkshire** ## **Statement of Financial Activities (including income and expenditure account)** |**Income and Endowments**
**Note**
Donations and Legacies
5
Other Trading Activities
6
Investment income
7
Other Income
8
**Expenditure**
Expenditure on raising funds: Costs of other
trading activities
9
Expenditure on charitable activities
10,11
**Net Income/(Deficit)**
Transfer between funds
**Net Movement in Funds**
**Reconciliation of Funds**
Total funds brought forward
**Total Funds Carried Forward**|**FY24**
**FY23**
Unrestricted
Funds
Restricted
Funds
**Total**
**Funds**
**Total**
**Funds**
£
£
£
£
7,950
79,379
87,328
86,943
310,140
-
310,140
307,915
32,832
-
32,832
35,757
12,500
-
12,500
-
**363,422**
**79,379**
**442,800**
**430,615**
212,605
-
212,605
190,379
159,142
93,178
252,320
264,986
**371,747**
**93,178**
**464,925**
**455,365**
**(8,325)**
**(13,800)**
**(22,125)**
**(24,750)**
(10,931)
10,931
-
-
**(19,257)**
**(2,868)**
**(22,125)**
**(24,750)**
1,240,011
18,962
1,258,973
1,283,723| |---|---| ||1,220,754
16,094
1,236,848
1,258,973| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 5 to 19 form part of these financial statements 2 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **World Education Berkshire** ## **Statement of Financial Position at 31[st] May 2024** |**Fixed Assets**
**Note**
Tangible Fixed Assets
17
Investments
18
**Current Assets**
Stocks
19
Debtors
20
Cash at bank and in hand
**Creditors: amounts falling due within one year**
21
**Net Current Assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after more than one year**
Bank loans and overdrafts
22
**Net Assets**
**Funds of the Charity:**
Restricted Funds
Unrestricted Funds:
Revaluation Reserve
24
Other unrestricted income funds
24
**Total unrestricted funds**
**Total Charity Funds**
24|**FY24**
**FY23**
£
£
916,998 928,621
620,000 620,000| |---|---| ||**1,536,998**
**1,548,621**
106,568 106,125
11,698
28,597
57,184
72,425| ||**175,449 207,148**
**46,045**
**45,782**| ||**129,404 161,365**| ||**1,666,402**
**1,709,986**| ||429,554 451,013| ||1,236,848
1,258,973| ||16,094
18,962
1,053,966 1,055,896
166,790 184,116| ||1,220,754 1,240,011| ||1,236,848 1,258,973| For the year ending 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors' responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 3 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** In common with many other charities of our size, we use our independent examination to assist with the preparation of the financial statements. These financial statements were approved by the board of trustees and authorised for issue on 15 January 2025, and are signed on behalf of the board by: Karen Peters Trustee Company registration number 01987368 The notes on pages 5 to 19 form part of these financial statements. 4 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **1. General information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 35-39 London Street, Reading, Berkshire, RG1 4PS. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. ## **Going concern** The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of approval of these financial statements. The trustees are confident that grant applications to various organisations to secure funds for the charity will be successful. This will allow the charity to continue with its activities. The trustees have ensured the charity has sufficient liquidity to continue as a going concern. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 5 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **3. Accounting policies (continued)** ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Tangible assets** Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a 6 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **3. Accounting policies (continued)** ## **Tangible Assets continued** result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. ## **Depreciation** Land component of Freehold property is not depreciated. Freehold buildings - 2% on straight line method Fixtures and fittings - 20% on straight line method Motor vehicles - 25% on straight line method Equipment - 20% on straight line method ## **Investment property** Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. ## **Impairment of fixed assets** A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 7 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **3. Accounting policies (continued)** ## **Stocks** Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. ## **Government grants** Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performancerelated conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. ## **Employee benefits** When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. ## **Loans and borrowings** Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. ## **Provisions** Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. ## **4. Limited by guarantee** Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. 8 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **5. Donations and legacies** |**Donations**
Appeals and Donations
**Grants**
Royal Berkshire Hospital
Berkshire Community Foundation - Veg 4 Families
Reading Borough Council - Food for Families
Earley Charity
Earley Charity
**Donations**
Appeals and Donations
**Grants**
Royal Berkshire Hospital
Berkshire Community Foundation - Veg 4 Families
Reading Borough Council - Food for Families
RHS
Earley Charity||Unrestricted
Funds
Restricted
Funds
**Total Funds**
**2024**
£
£
£
7,950
7,950
3,276
3,276
3,000
3,000
10,000
10,000
12,358
12,358
50,745
50,745| |---|---|---| |||**7,950**
**79,379**
**87,328**| |||Unrestricted
Funds
Restricted
Funds
Total Funds
2023
£
£
£
10,029
10,029
14,100
14,100
4,900
4,900
10,000
10,000
2,500
2,500
45,414
45,414| |||**10,029**
**76,914**
**86,943**| ## **6. Other Trading Activities** |World Shop
Food for Families, events and courses
Centre Income
Global Café
Global Refill Shop
Education Resources|Unrestricted
Funds
**Total Funds**
**2024**
Unrestricted
Funds
Total Funds
2023
£
£
£
£
137,405
137,405
137,056
137,056
5,499
5,499
7,345
7,345
105,091
105,091
98,109
98,109
-
-
-
-
59,760
59,760
53,718
53,718
2,385
2,385
11,687
11,687| |---|---| ||310,140
310,140
307,915
307,915| 9 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **7. Investment Income** |**7. Investment Income**|| |---|---| |Income from investment properties
Bank Interest received
**8. Other Income**
Asset Disposal|Unrestricted
Funds
**Total Funds**
**2024**
Unrestricted
Funds
Total Funds
2023
£
£
£
£
32,375
32,375
35,445
35,445
457
457
312
312| ||32,832
32,832
35,757
35,757| ||Unrestricted
Funds
**Total Funds**
**2024**
Unrestricted
Funds
Total Funds
2023
£
£
12,500
12,500
-
-
12,500
12,500
-
-| ## **9. Costs of other trading activities** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|£|£|£| |Fair Trading|137,894|137,894|131,654|131,654| |Global Café|-|-|-|-| |Global Refill Shop|60,543|60,543|46,119|46,119| |Investment Income|14,168|14,168|12,605|12,605| |Other|-|-|-|-| ||212,605|212,605|190,379|190,379| 10 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **10. Expenditure on charitable activities by fund type** |Centre Costs
Core Costs
Development Education
Sustainable Communities
Community/Centre Development
Support Costs
Centre Costs
Core Costs
Development Education
Sustainable Communities
Community/Centre Development
Support Costs|Unrestricted
Funds
Restricted
Funds
**Total Funds**
**2024**
£
£
£
38,939
50,745
89,684
16,265
-
16,265
14,168
10,404
24,571
28,452
28,452
-
-
-
89,770
3,577
93,347
159,142
93,178
252,320
Unrestricted
Funds
Restricted
Funds
Total Funds
2023
£
£
£
49,077
45,442
94,519
42,007
-
42,007
22,742
2,316
25,058
-
18,232
18,232
-
-
-
66,552
18,618
85,170
180,378
84,607
264,986|Unrestricted
Funds
Restricted
Funds
**Total Funds**
**2024**
£
£
£
38,939
50,745
89,684
16,265
-
16,265
14,168
10,404
24,571
28,452
28,452
-
-
-
89,770
3,577
93,347| |---|---|---| |||159,142
93,178
252,320| ## **11. Expenditure on charitable activities by activity type** |World Shop
Centre Costs
Core Costs
Global Refill Shop
Development Education
Sustainable Communities
Community and Centre Development
Governance Costs|Activities
undertaken
directly
Grant
Funding
Activities
Support
Costs
**Total**
**Costs**
**FY24**
Total
Funds
FY23
£
£
£
£
£
-
-
975
975
1,416
38,939
50,745
63,078
152,762
121,869
16,265
-
17,156
-
68,517
-
-
674
674
852
24,571
-
12
24,584
28,082
28,452
-
3,577
32,030
33,876
-
-
-
-
-
-
-
7,875
7,875
10,375| |---|---| ||108,229
50,745
93,347
252,320
264,986| 11 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **12. Analysis of support costs** |Premises
Communications and IT
General Office
Finance Costs
Governance Costs
Legal and Professional
Consultancy
Depreciation
Postage/Stationary
Advertising
Subscriptions
Bank Loan Interest|World
Shop
Centre
Costs
Core
Costs
Global
Refill Shop
Sustainable
Communities
Development
Education
**Total**
**2024**
Total
2023
£
£
£
£
£
£
£
£
-
35,940
4,935
-
-
-
40,875
19,900
-
-
1,045
-
-
-
1,045
5,261
-
421
4,994
453
-
-
5,868
1,125
-
334
221
-
3,567
-
4,121
19,410
-
-
7,875
-
-
-
7,875
10,375
-
739
2,990
-
-
-
3,729
2,668
-
-
11,622
-
-
-
11,622
11,991
10
1
19
-
-
-
31
45
449
1,860
1,980
221
11
12
4,533
2,625
-
-
117
-
-
-
117
971
516
221
744
-
-
-
1,481
2,558
-
12,984
1,155
-
-
-
14,139
8,241| |---|---| ||975
52,500
36,915
674
3,577
12
93,347
85,170| ## **Analysis of restricted funds support costs included above:** |Premises
Consultancy
Postage/Stationary
Consultancy|Sustainable Communities Development Education**Total 2024**Total 2023
£
£
£
£
-
-
-
-
3,567
-
3,567
18,581
11
-
11
36
-
-
-
-| |---|---| ||3,577
-
18,617
18,617| The support costs were allocated to activities on the following basis: Premises : Charged to centre costs unless directly attributed to activity Depreciation : Usage Consultancy : Usage 12 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **13. Net Income** Net income is stated after charging/(crediting): |Depreciation of tangible fixed asset|**2024**
2023
**£**
£
11,622
11,991| |---|---| |**14. Independent examination fees**||| |---|---|---| ||**2024**|2023| |Fees payable to the independent examiner for:|**£**|£| |Independent examination of the financial statements|7,875|8,875| ## **15. Staff Costs** The total staff costs and employee benefits for the reporting period are analysed as follows: |Wages and Salaries
Wages and Salaries
Social Security Costs
Pension Contributions
Total|**2024**
**£**
233,664
2024
£
210,403
11,021
12,240
233,664|2023
£
213,120| |---|---|---| |||2023
£
191,342
10,200
11,578| |||213,120| The average head count of employees during the year was 8 (2023: 8). The average number of full-time equivalent employees during the year is analysed as follows: |Education Workers
- charitable activities
World Shop
- charitable activities
Events
- charitable activities
Management and Support
- Governance and raising funds|**2023**
**No.**
1
2
1
4
8|2022
No.
1
2
1
4| |---|---|---| |||8| 13 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **15. Staff Costs (Continued).** No employee received employee benefits of more than £60,000 during the year (2023: Nil). ## **16. Trustee remuneration and expenses** None of the trustees received any remuneration or reimbursement of expenses during the current or previous year. ## **17. Tangible Fixed Assets** |**Cost**
At 1 June 2023
Additions
Disposal
**At 31 May 2024**
**Depreciation**
At 1 June 2023
Charge for the year
Disposal
**At 31 May 2024**
**Carrying Amount**
**At 31 May 2024**
At 31 May 2023|Freehold
Property
Fixtures and
Fittings
Motor
Vehicles
Equipment
**Total**
£
£
£
£
**£**
1,010,885
44,997
19,677
97,853
1,173,412
-
-
-
-
-
-
-
(19,677)
-
(19,677)| |---|---| ||1,010,885
44,997
-
97,853
1,153,735| ||86,885
44,997
19,677
93,233
244,792
9,500
-
2,122
11,622
(19,677)
(19,677)| ||96,385
44,997
-
95,355
236,737| ||**914,500**
**-**
**-**
**2,498**
**916,998**| ||924,000
-
-
4,620
928,620| The freehold property was valued at £1,000,000 on 31 May 2015. This was considered to be deemed cost at transition to FRS102 on 1 June 2015. ## **NBV of revalued tangible fixed assets:** The net book value of revalued assets at 31st May 2024 was £914,500.(2023 £924,000) ## **Tangible fixed assets held at valuation** In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows: 14 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** |**Freehold Property**
**As at 31 May 2024**
**£**
Aggregate Cost
678,265
Aggregate Depreciation
(193,224)
**Carrying Value**
485,041
As at 31 May 2023
Aggregate Cost
678,265
Aggregate Depreciation
(182,667)
Carrying Value
495,598
**18. Investments**
**Investment**
**properties**
**Cost or valuation**
**£**
**At 1 June 2023 and 31 May 2024**
620,000
**Impairment**
**At 1 June 2023 and 31 May 2024**
-
**Carrying Amount**
**At 31 May 2024**
620,000
At 31 May 2023
620,000|**Freehold Property**
**As at 31 May 2024**
**£**
Aggregate Cost
678,265
Aggregate Depreciation
(193,224)
**Carrying Value**
485,041
As at 31 May 2023
Aggregate Cost
678,265
Aggregate Depreciation
(182,667)
Carrying Value
495,598
**18. Investments**
**Investment**
**properties**
**Cost or valuation**
**£**
**At 1 June 2023 and 31 May 2024**
620,000
**Impairment**
**At 1 June 2023 and 31 May 2024**
-
**Carrying Amount**
**At 31 May 2024**
620,000
At 31 May 2023
620,000|**Freehold Property**
**As at 31 May 2024**
**£**
Aggregate Cost
678,265
Aggregate Depreciation
(193,224)
**Carrying Value**
485,041
As at 31 May 2023
Aggregate Cost
678,265
Aggregate Depreciation
(182,667)
Carrying Value
495,598
**18. Investments**
**Investment**
**properties**
**Cost or valuation**
**£**
**At 1 June 2023 and 31 May 2024**
620,000
**Impairment**
**At 1 June 2023 and 31 May 2024**
-
**Carrying Amount**
**At 31 May 2024**
620,000
At 31 May 2023
620,000| |---|---|---| |||| |||-
620,000| |||620,000| All investments shown above are held at valuation. ## **Investment properties** Historical cost at 31st May 2024 - £316,253. (2023 £316,253). The trustees estimate the market value of the investment property at £620,000 as at 31st May 2024 (2023 £620,000). The investment properties were subject to independent, professional valuation at 31st May 2015. The valuation was carried out on an existing use basis by Mr S J Gregory BSc MRICS, a Registered Valuer at Hicks Baker. |**19. Stocks**||| |---|---|---| ||**2024**|2023| ||**£**|£| |Raw materials and consumables|106,568|106,125| 15 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **20. Debtors** |**20. Debtors**||| |---|---|---| |Trade Debtors
Prepayments and accruals|**2024**
**£**
10,817
881
11,698|2023
£
20,221
8,376| |||28,597| ## **21. Creditors: amounts falling due within one year** |Trade Creditors
Accruals and deferred income
Social security and other taxes
Other creditors||**2024**
**£**
7,129
9,750
2,816
26,350
46,045|2023
£
5,497
7,000
2,060
31,225| |---|---|---|---| ||||| ||||45,782| Other Creditors include: Borrowing amounting to £16,125 (2023 £21,927) is secured on the company assets. ## **22. Creditors: amounts falling due after more than one year** Borrowing amounting to £419,060 (2023 £430,506) is secured on the company assets. Included within creditors: amounts falling due after more than one year is an amount of £354,564 (2023: £316,741) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date. The loans are for varying periods and varying interest rates from 6 to 25 years. The loans underpinning the property investments are interest only loans. Working capital loans are interest and capital repayment loans. Interest rates varies between 2.5% to 4.2%. ## **23. Government grants** The amounts recognised in the financial statements for government grants are as follows: There were no government grants received in the current or the previous year. 16 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **24. Analysis of Charitable Funds** ## **Unrestricted Funds** |**General Funds**
Transfer from revalued assets
Total
**Revaluation Reserve**
Realised on depreciation of
revalued assets
General Funds
Revaluation Reserve
**Restricted Funds**
Sustainable Communities
Centre Costs and Developments
Sustainable Communities
Centre Costs and Developments|01 June
2023
Income
Expenditure
Transfer
**31 May**
**2024**
£
£
£
£
£
184,116
363,422
(371,747)
(10,931)
164,860
-
-
-
1,930
1,930
166,790
1,055,896
-
-
1,055,896
(1,930)
(1,930)
1,053,966
1,240,012
363,422
(371,747)
(10,931)
1,220,756
01 June
2022
Income
Expenditure
Transfer
31 May
2023
£
£
£
£
£
201,172
353,701
(370,758)
-
184,116
1,055,896
-
-
-
1,055,896
1,257,068
353,701
(370,758)
-
1,240,012
01 June 2023
Income Expenditure
Transfers
**31 May 2024**
£
£
£
£
£
7,641
28,634
(42,433)
10,931
4,773
11,320
50,745
(50,745)
-
11,320
18,961
79,379
(93,178)
10,931
16,093|01 June
2023
£
184,116
-
1,055,896
1,240,012|01 June
2023
£
184,116
-
1,055,896
1,240,012|Income
Expenditure
Transfer
£
£
£
363,422
(371,747)
(10,931)
-
-
1,930
-
-
(1,930)|**31 May**
**2024**
£
164,860
1,930
166,790| |---|---|---|---|---|---| ||||||1,055,896
(1,930)
1,053,966| |||||363,422
(371,747)
(10,931)|1,220,756| |||01 June
2022
£
201,172
1,055,896
1,257,068||Income
Expenditure
Transfer
£
£
£
353,701
(370,758)
-
-
-
-|31 May
2023
£
184,116
1,055,896| |||||353,701
(370,758)
-|1,240,012| ||||Income Expenditure
Transfers
**31 May 2024**
£
£
£
£
28,634
(42,433)
10,931
4,773
50,745
(50,745)
-
11,320||| ||||79,379
(93,178)
10,931
16,093||| ||01 June 2022
£
15,307
11,348
26,655||Income Expenditure
Transfer
31 May 2023
£
£
£
£
31,500
(39,166)
-
7,641
45,414
(45,442)
-
11,320||| ||||76,914
(84,607)
-
18,961||| 17 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** Purposes of Restricted Income Funds Restricted funds have arisen where income has been received from funders for specific purposes. These include: ## **Community and centre development** The maintenance of the community and centre was largely funded by grant received from Earley Charity of £50,745 (2023 £45,414) ## **Sustainable communities** Local Food Funding is to support the setting up the 15 food growing gardens in Reading where families can learn how to grow their own food. This includes covering the costs of a project coordinator and garden tutors to run the sessions with families on site. This activity has been supported by grants from Royal Berkshire Hospital (NHS), Berkshire Community Foundation, Early Charity and Reading Borough Council. ## **25. Analysis of net assets between funds** |Tangible Fixed Assets
Investments
Current Assets
Creditors greater than 1 year
Tangible Fixed Assets
Investments
Current Assets
Creditors greater than 1 year|Unrestricted Funds Restricted Funds**Total Funds 2024**
£
£
£
916,998
-
916,998
620,000
-
620,000
113,310
16,094
129,404
(429,554)
-
(429,554)| |---|---| ||1,220,755
16,094
1,236,848| ||Unrestricted Funds Restricted Funds Total Funds 2023
£
£
£
928,621
-
928,621
620,000
-
620,000
142,404
18,962
161,365
(451,013)
-
(451,013)| ||1,240,012
18,962
1,258,973| 18 **World Education Berkshire Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024** ## **26. Accounting disclosure** In common with many other charities of our size, we use our independent examiner to assist with the preparation of the financial statements. ## **27. Taxation** As a charity, World Education Berkshire is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Charity. ## **28. Company limited by guarantee** The company which is registered as a charity does not have a share capital. The liability of every member is limited by guarantee to £1.00. The total number of members as at 31st May 2024 was 45 (2023: 42). ## **29. Analysis of Changes in Net Debt** |Cash at bank and in hand
Debt due after 1 Year|01 June 2023
Cash flows
**31 May 2024**
£
£
£
72,425
(15,242)
57,184
(451,013)
21,459
(429,554)| |---|---| ||(378,587)
6,217
(372,370)| ## **30. Related parties** None of the trustees received any remuneration or reimbursement of expenses during the current or previous year. ## **31. Post balance sheet review** Going Concern The charities trading activities are still recovering following the Covid 19 pandemic. The trustees are still pursuing a policy of cost containment and improving income through fundraising activities and appeals. The trustees are confident that the Charity has sufficient reserves to allow it to continue with its activities for the foreseeable future despite an anticipated manageable deficit likely to arise in the year ended 31[st] May 2025. 19 RISC continues to embrace the ethos of Global Citizenship promoting actions that lead to positive impact on the lives of others. Registered Charity Number 293799. RISC is a company limited by guarantee, number 01987368 https://www.risc.org.uk/