REGISTERED CHARITY NUMBER: 297391 Report of the Trustees and Financial Statements for The Year Ended 31 December 2025 Partners For Change Ethiopia PARTNERS FOR CHANGE ETHIOPIA Contents of the Financial Statements for the Year Ended 31 DECEMBER 2025 Page |Legal and Administrative Information|3| |---|---| |Report of the Trustees|4-6| |Independent Examiner's Report|| |Statement of Financial Activities|| |Balance Sheet|| |Statement of Cashflows|10| |Notes to the Financial Statements|11-15| ## PARTNERS FOR CHANGE ETHIOPIA Legal and Administrative Information Registered Charity Number 297391 Registered Office 225-9 Seven Sisters Road London N4 2DA Trustees The Revd Dr John Binns Alina Listopad (Appointed 22nd July 2025) Margaret Johnston Christine Brown Angela Robson Caroline Field Michael Anyangbeso (Appointed 17th October 2025) Marjorie Winter Independent Examiner Thomas Ojo PPS Accountants 11 Farnes Court Worksop, Nottinghamshire S81 OLZ Bankers Child & Co. Page 3 PARTNERS FOR CHANGE ETHIOPIA ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 ## The Trustees present their report and examined financial statements of the charity for the year ended 31 December 2025. The Trustees have adopted the provisions of the statement of Recommended practice (SORP) "Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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 published on 16 July 2014, as amended by Bulletin 1. ## Objectives and Activities The charity's objectives are the prevention or relief of poverty, raising awareness and supporting education and training, providing overseas aid and famine relief, improving economic/community development or employment. The objectives are carried out by raising funds and awareness in the UK to promote the well-being of children in their communities in Ethiopia and Uganda, regardless of race, gender or religion. ## Structure, Governance and Management The charity was setup and governed according to it's Trust Deeds. Management and strategy of Partners for Change Ethiopia is set by a board of trustees, which also commissions business plans, monitors performance against them and manages risM. The board meets about 4 to 5 times every year and is supported by an executive committee and a fundraising group. We use a campaigns officer on a consultancy basis, and we benefit from the work of a small number of volunteers. The strategy of Partners for Change Ethiopia is set by a board of trustees. ## Public Benefit The trustees have given due regard to the Charity Commission's guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities. The trustees can confirm that all the charitable activities being supported are open to members of the public without discrimination. ## Achievements and Performance in the year We were founded in 1985 so this was the 40" year of working. It began with a visit to Ethiopia carried out by two trustees, our campaign officer and a long-term supporter. Following this we presented an overview of our work to supporters through newsletters, messages and meetings. The focus of our work continued with setting up and supporting breakfast clubs to provide the poorest children with a meal at the start of the school day and assistance to their families in setting up small businesses. In 2025 we completed a breakfast club at Basso School in Debre Birhan and set up a further club for 60 children at Tibase Mehdane Alem School, also in Debre Birhan. This was a school facing major problems due to the large number of pupils from Internally Displaced Person camps. We also supported a project helping women in setting up new businesses and building community in Shewa Robit, a town devastated by the 2022 war. This was the result of a generous grant from the Ling Foundation. We also supported a project in Nairobi, Kenya helping girls trapped in the sex industry in starting new careers, and in Nyakabungo Uganda in supporting children and their families in a rural school. These followed the same Social Change Maker approach as JeCCDO in Ethiopia and were funded from dedicated restricted donations. The challenges to our work in Ethiopia continue. Political tensions remain following conflict in Tigray and other areas but there are signs that the participants are trying to restore stability. Moreover, the Page 4 PARTNERS FOR CHANGE ETHIOPIA ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 economy suffered as a result of the restrictions imposed to prevent the spread of covid-19 and civil unrest. Partners for Change has been monitoring the situation as best we can, which is difficult because communications have been disrupted especially in areas where there has been fighting. Nevertheless, through JeCCDO we have local contacts and we have experience in trying to interpret this complex country since we first became involved there in the 1980s. The value of the work of JeCCDO in providing clean water, sanitisers, and emergency food supplies have been acknowledged by the Ethiopian government. There were some changes in personnel. We appointed Alina Listopad as Treasurer. Norma Hylton-Plais and Plarj Winter became trustees and Gary Battell resigned from the board. ## Financial Review During the year income amounted to £91,950 (2024: £97,147). Expenditure amounted to £93,185 (2024: £69,733). At December 2025 total funds amounted to £34,656 (2024: £35,891) out of which £9,979 was unrestricted funds. ## Reserves Policy The trustees have agreed to hold a minimum of £5,000 as unrestricted reserves. ## Risk management The Trustees have examined the major strategic, business and operational risM which the charity faces and confirm that systems have been established to enable the charity to lessen or mitigate those risks. ## Future Plans and Projects A key objective for us remains to provide financial and other support to JeCCDO so that it can continue its valuable work. We support its Social Change Maker approach. We will continue to support the breakfast clubs, and will fund a further club at another school. We will also continue to support the women in the town of Shewa Robit, as this will be year 2 of a three year project. We will keep in close contact with JeCCDO and seek to provide support as needed. We also wish to explore and support projects in neighbouring African countries which follow the Social Change Maker development model. Signed on behalf of the board: 3ohn Binns Chair Date: 17/072026 Page 5 PARTNERS FOR CHANGE ￿H1OP1A PARThERS FOR CHAMGE ETHIOPIA INoepEHDENT EXAMINER'S REPORTTOIIIE TRILSTEESOF PARThERS FORCHAMGE EfHIopiA set out on pages 8 to 15. u1rwr￿ts ofthe Charibe5 kt 2011 lll*kri. Having satisw myAr that the ￿(Th1nts of the (Jwrty we TVA ￿uiTe￿to LE aTyJ are elNible fty 1Th*[￿dent examiDatw)n. I rekK¥t in re5kWt exarrunatth ￿￿)UrdIa{￿S ￿(￿Ints as f￿r￿1 fArt uTrJer 5e£tKJn 145 a￿￿eS Prt 2011 ￿ 2011 Pd). In Lmrt my exafftnatTh I ha% the LTh"rect*Jns gven ty the (hantyctywdsw 145t5} (b} ￿the 2011 rt In the CTharit*s (Accwnts RetKrt51 RegubtKXts 2rTh ither than a)y requI￿￿t thattheaQ￿rtSg￿* a Thoma5 Ojo18ABSt,FCPAI PP5 Accountants 11 Farne5 Court Worksop Nottinghamshire 581 OLZ Date.. 191112Q Page 6 ## **PARTNERS FOR CHANGE ETHIOPIA** Statement of Financial Activities (incorporating the Income and Expenditure Account) for the Year Ended 31 December 2025 |Notes
Income and endowments from:
Donations and legacies
Charitable activities
Investments
**Total**
2
Expenditure on:
Raisingfunds
3
Charitable activities
**Total**
Net**income/(expenditure)**
Transfer between funds
Net movement in funds
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried**forward|Unrestricted
funds
30,643
1,041
526
32,210
(14,077)
(18,696)
(32,773)
(563)
(160)
(723)
10,702
9,979|Restricted
funds
59,740
59,740
(60,412)
(60,412)
`(672)`
160
(512)
25,189
24,677|2025
Total
funds
**60,781**
526
**91,950**
(14,077)
(79,108)
(93,185)
**(1,235)**
34,656|2024
Total
funds
30,357
66,505
285| |---|---|---|---|---| |||||97,147
(13,118)
(56,615)| |||||(69,733)
27,414| |||||27,414| |||||8,477| |||||35,891| This Statement of financial activities includes all gains and losses recognised in the year and complies with the requirements for the income and expenditure account under the Charities (Accounts and Reports) Regulations 2008. All income and expenditure derive from continuing activities. Comparative figures for the previous year by fund type are shown in note 10. The notes on pages 11 to 15 are an integral part of these financial statements. Page 7 ## **PARTNERS FOR CHANGE ETHIOPIA** ## Balance Sheet |BalanceSheet||||| |---|---|---|---|---| |At 31 December 2025
CURRENTASSETS
Debtors
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
`NETCURRENTASSETS`
TOTAL ASSETS LESS CURRENT
LIABILITIES
Notes
8
FUNDS
Restricted
Unrestrictedfunds
9
TOTAL FUNDS|£
5,103
32,153
37,256
(2,600)|2025
34,656
24,677
9,979
34,656|809
47,262
48,071
(12,180)|2024
35,891
35,891| |||||25,189
10,702| |||||35,891| The financial statements were approved by the Board of Trustees on: ..17/07/2026 and were signed on its 3ohn Binns Chair Page 8 ## **PARTNERS FOR CHANGE ETHIOPIA** Cash flow statement At 31 December 2025 |Net incoming resources for the year
Depreciation and impairment
Decrease / (Increase) in debtors
Increase / (Decrease) in creditors
Net Cash inflow from operating activities
Capital expenditure
Increase / (Decrease) in cash in the year
Reconciliation of net cash flow to movement in net funds
Increase in cash in the year
Net funds at 1 January 2025
Net funds at 31 December 2025|**2025**
(4,294)
(9,580)
**(15,109)**
**(15,109)**
**(15,109)**
**32,153**|2024
27,414
(583)
1,100| |---|---|---| |||27,931| |||27,931
27,931
19,331| |||47,262| Page 9 ## **PARTNERS FOR CHANGE ETHIOPIA** ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ## **1 ACCOUNTING POLICIES** ## **1.1 Basis of preparation** Partners for change Ethiopia is a registered charity with the Charity Commission for England and Wales. The registered office is given in the charity information on page 3 of these financial statements. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 FRS (102) issued on 16 July 2014 as amended by Bulletin 1, the Charities Act 2011 and UK Generally Accepted practice as it applies ## from 1st January 2015. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## 1.2 I'unds accounting Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose. Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. ## 1.3 Incozae All income is included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Grant income is included in the Statement of Financial Activities when receivable. Voluntary income including donations and gifts is included in full in the Statement of Financial Activities when receivable. Investment income is also included when receivable. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. ## **1.4 Expenditure** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 10 ## PARTNERS FOR CHANGE ETHIOPIA ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 - L5 Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. There has been no offsetting of assets and liabilities, or income and expenses. ## Grants received During 2025, grants were received from: Constable Foundation (Sherborne, MA, USA) Great St Mary Church, Waterloo Foundation, Alan and Nesta FE Ferguson Trust and Ethiopia Aid. - 2 Analysis of income |||| |---|---|---| |Analysis of income
Donations (including gift aid)
Legacies
General grants provided by other charities
Interest
Sale of artefacts
Total income|2025
30,643
59,740
526
1,041
91,950|2024
25,358
5,000
67,730
285
774| |||99,147| Page 11 ## PARTNERS FOR CHANGE ETHIOPIA ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 |4
Analysis of expenditure
Expenditure on raising funds
Expenditure on administration
Expenditure on charitable activities
Total expenditure
5
Details of expenditure on administration
Bankcharges
Bookkeeping
DonorManagement
Insurance
International transfer fees
Social Media and Communications
Travel and Room Hire
Recruitment
Websiterefresh
IndependentExamination
Total expenditure on administration
Details of expenditure on raising funds
Campaignsofficer
Fund raising fees
Total cost of raising funds|2025
14,077
5,388
73,720
93,185
2025
32
562
`248`
116
1,259
907
1,164
1,100
5,388
2025
13,633
444
14,077||2024
13,118
6,803
49,812
69,733
2024
12,600
518
13,118| |---|---|---|---| ||||| ||||| ||||| ||||
2024
34
332
180
269
75
1,109
704
3,000
1,100
6,803| ||||| ||||| Page 12 ## PARTNERS FOR CHANGE ETHIOPIA ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 |6
Details of payments to Projects
Bahir Dar family
Badilisha
Cholleschool
Debre Berhan, Wash
Supporting Tsion
Women of Hawassa
Support for JeCCDO
Rebuilding Communities
Total expenditure on charitable activities
Debtors and prepayments
Prepayments
Other debtors
Total debtors
Creditors and provisions
Other Creditors
Total creditors|2025
200
25,724
10,000
6,000
450
15,000
13,308
3,038
73,720
2025
55
5,048
5,103
2025
2,600
2,600|2024
600
12,915
450
25,848
10,000| |---|---|---| |||| |||2024
62
747| |||809| |||2024
12,180| |||12,180| Page 13 ## PARTNERS FOR CHANGE ETHIOPIA ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ## **Analysis** of **funds** |**Restricted funds**
Bahir Dar family
Tibase school
Debre Berhan, WASH
Tsion
Women of Hawassa
Badilisha
RebuildingCommunities
Nyakabungo
EthiopianFund
**Total restricted funds**
**Unrestricted funds**
Total funds|Brought
forward
14,981
7,500
2,708
10,702|Incomings
**`3,900`**
16,903
6,000
310
20,788
329
4,800
6,710
59,740
32,210
91,950|Outgoings
(200)
(10,000)
(6,000)
(450)
(15,000)
(25,724)
(3,038)
(60,412}
(32,773)
(93,185)|Transfers
`140`
`19`
1
160
(160)|**Carried**
forward
3,700
6,903
2,564
4,800
6,710| |---|---|---|---|---|---| ||||||24,677| ||||||9,979| ||||||34,656| ## Transactions with **trustees and** related **parties** None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity. There have been no related party transactions in the reporting period. Page 14 ``` PARTNERSFORCHANGE ETHIOPIA ``` ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ## 10 Statement of Financial **Activities** (incorporating the **Income** and **Expenditure** Account) for the Year Ended 31 December 2024 ## **Comparative** |**Notes Unrestricted**
funds
Income and endowments from:
Donations and legacies
22,293
Charitable activities
2
12,177
Investments
285
**Total**
34,755
Expenditure on:
Raisingfunds
(13,118)
Charitable activities

(16,803)
Total
(29,921)
**Net inœme/[expenditure)**
4,834
**Transfer beMeen funds**
(2,449)
**Net Movement in funds**
2,385
**Reœnciliation of funds**
Total funds brought forward
8,317
Total funds carried forward
10,702|**Restricted**
funds
8,064
54,328
|2024
**Total**
funds
30,357
66,505

**28îî**
97,147
(13,118)

(56,615}

**(69,733)**
27,414
8,477
35,891|2023
Total
funds
62,633
17,782
486
80,901
(10,414)
(73,636)
(84,050)| |---|---|---|---| ||62,392
(39,812)||| ||
(39,812)||| ||
22,580
2,449
25,029
160
25,189||| ||||(3,149)| ||||(3,149)
11,626| ||||8,477| ## Going concern The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The Board of Trustees are confident that the charity will continue to be able to operate during the next 12 months and is therefore currently a going concern. Page 15