Company no. 02435882 Charity no. 802353 

## **Ethiopiaid** 

# **Report and Audited Financial Statements 31 December 2025** 



## **Ethiopiaid** 

## **Reference and administrative details** 

|**Reference and administrative details**|**Reference and administrative details**||
|---|---|---|
|**For the year ended 31 December 2025**|||
|**Company number**|02435882||
|**Charity number**|802353||
|**Registered office and**|1 Circus Place||
|**operational address**|Bath||
||BA1 2PG||
|**Trustees**|Trustees, who are also directors under company law, who served during||
||the year and up to the date of this report were as follows:||
||N Bullock|Appointed 30 May 2025|
||V Catterall||
||A Chapman||
||A Fenn||
||A A Gebreyes||
||M Norman|Resigned 30 May 2025|
||E Prak||
||P J Reed||
||H Smith||
|**Company secretary**|R Fuller|Appointed 23 April 2025|
||L Cousins|Resigned 23 April 2025|
|**Chief executive officer**|A Lord|Appointed 24 April 2025|
||L Cousins|Resigned 23 April 2025|
|**Bankers**|CAF Bank|HSBC Bank|
||25 Kings Hill Avenue|Knightsbridge Premier Centre|
||West Malling|102 Brompton Road|
||Kent|London|
||ME19 4JQ|SW3 1JJ|
||Barclays Bank||
||Hounslow||
||Leicester||
||LE87 2BB||
|**Auditors**|Godfrey Wilson Limited||
||Chartered accountants and statutory auditors||
||5th Floor Mariner House||
||62 Prince Street||
||Bristol||
||BS1 4QD||



1 



## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

The trustees present their report along with the financial statements of the charity for the year ended 31 December 2025. 

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019). 

## **Aims and Objectives** 

## **Purpose of the charity** 

Ethiopiaid works with Ethiopian partners to improve the lives of some of the poorest and most vulnerable people in Ethiopia. Ethiopiaid’s Global Strategy (2020-2025) states the charity’s key objectives: 

- To reach and impact positively on the lives of the most poor and marginalised people in Ethiopia as identified by project need, partner access and expertise; 

- To be the charity of choice for those with an interest in Ethiopia and the causes supported by the charity; and 

- To ensure robust systems and processes to safeguard the charity's current and future operations in an evolving development landscape. 

## **Summary of main activities** 

Ethiopiaid works closely and in partnership with local indigenous organisations who know the local context and are best placed to design and deliver effective and impactful projects and programmes. 

In 2025 £1,858,192 was transferred to partners. This included: 

- ▪£1,655,594 to the charity’s core long term partners; 

▪The small grants programme which awarded grants to three NGOs in Ethiopia; and 

- £142,598 was provided in emergency and recovery funding to partners impacted by conflict and drought. 

Funds distributed focused on the following main areas of work: 

- ▪Maternal health; 

- ▪Education; 

- ▪Women and Girls; 

- ▪Disability; 

- ▪Supporting vulnerable people and communities; and 

- ▪Emergency relief and recovery. 

The charity’s core, long-term partners who received funding in 2025 are: 

## **Afar Pastoralist Development Association (APDA)** 

APDA works in the remote Afar region in Northern Ethiopia, to end harmful practices such as female genital mutilation (FGM) and early marriage. APDA's outreach health workers support families, FGM practitioners, communities and religious leaders to challenge attitudes, change mindsets and protect young girls. APDA also deliver life-saving relief and recovery projects for communities affected by drought, food insecurity, disease and conflict. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

## **Action on Podoconiosis and Integrated Development Association (APIDO)** 

APIDO delivers programmes to identify, prevent and treat podoconiosis, a neglected tropical disease, in the southern region of Ethiopia. The team travel vast distances across rural areas to identify patients, provide care and support, and address the negative attitudes to people with podo. Local health professionals are trained to raise awareness in communities about the importance of wearing shoes. They train young people to become shoemakers and establish shoemaking workshops where oversized shoes are produced for podo sufferers, thereby ensuring sustainability of the project. 

## **Atsedes Maternity Clinic** 

A rural health clinic located in the remote mountainous area of the Gurage zone. Atsede’s Maternity Clinic was founded by experienced local midwives and provides sensitive and individualised maternal health care for women. The clinic includes a birthing suite, delivery room, emergency clinic and several outreach projects. In 2025, the clinic burnt down and Ethiopiaid supporters raised funds to help rebuild and refurnish it – due for re-opening in 2026. Ethiopiaid also funds the Midwives on the Move project, to improve maternal health outcomes and wellbeing by taking services and support to rural women in their homes and remote communities. 

## **Cheshire Services Ethiopia** 

Cheshire Ethiopia is a leading disability charity working with adults and children to provide corrective surgery, intensive rehabilitation, mobility aids and physiotherapy. Their wheelchair and prosthetics workshop produces specialist bespoke equipment, and a livelihoods programme supports disabled households to become financially self-supporting. Cheshire's Reed House Clinic in Addis offers outpatient clinics to mothers and their young children who are living with complex physical and learning disabilities. 

## **Hamlin Fistula Hospital and Midwifery College** 

The Hamlin Fistula Hospital is world-renowned for the treatment and rehabilitation of women suffering from obstetric fistula. Ethiopiaid provides funds for the training of midwives recruited from the rural areas, who benefit from high quality training for 4 years and are then deployed back to rural community health centres. Hamlin are one of four maternal health partners, three of which focus on supporting women living or recovering from an obstetric fistula. 

## **Healing Hands of Joy (HHOJ)** 

Healing Hands of Joy rehabilitate fistula survivors by training them as Safe Motherhood Ambassadors. The Ambassadors return to their communities to support access to pre-natal education and encourage women to give birth safely in health centres. Ambassadors also walk door to door in rural areas to identify women living with untreated fistula and support them to access free surgery and rehabilitation. Funding was also provided for the establishment or refurbishment of maternity waiting homes at health centres to provide high risk pregnant women, or those living great distances from services, with a safe space to stay in the weeks before their due date. 

## **Hope Enterprises and Hope Enterprises University College (HEUC)** 

Hope Enterprises provides and supports education for low-income students from primary to tertiary level. In 2025 Ethiopiaid continued its funding of Hope’s award-winning technical and vocational education programme in Addis and their daily feeding programme for children and adults experiencing extreme poverty in Dessie and Addis. In collaboration with an Ethiopiaid funder, we are also supporting the installation of solar power at the rural Assosa School to remove the need for wood burning stoves in the kitchen, provide power to the school and for a water pump which will also provide irrigation for the school’s 10 hectare farm. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

Funding was provided for student bursaries for impoverished students attending Hope Enterprises University College, Ethiopia’s first not-for-profit university. Their mission is to provide the next generation of aspiring professionals and leaders the option of pursuing a world class degree without leaving their country and cultural setting. 

## **Hope of Light** 

Hope of Light provides surgery for women living with an obstetric fistula or pelvic organ prolapse. In 2025 Ethiopiaid provided funding to support the running costs of their fistula surgery centres in Jimma and Gondar, alongside community awareness and patient identification programmes. As one of our three fistula partners, Hope of Light’s fistula service fills the gap in provision so that more women in need can be reached. 

## **Hospice Ethiopia** 

Hospice Ethiopia provide palliative home care to terminally ill people living in poverty who have little or no access to medical assistance, pain relief or wellbeing support. A significant part of their work is to train medical professionals and embed palliative care within the health system in Ethiopia. Donor funding was also provided for specialist training of three nurses in Paediatric Palliative Care which was completed in 2025. 

## **NEXUS Ethiopia** 

Nexus focuses on delivering humanitarian aid and support designed and driven by local communities. Funding given in the year was directed towards a project to improve the emotional and physical wellbeing of female survivors of sexual violence in the Tigray region. 

## **Studio Samuel** 

Studio Samuel’s mission is to engage vulnerable girls in after school and weekend clubs where they learn a variety of life and vocational skills to help them thrive at school and secure future employment. One project is peer to peer training on the production of reusable menstruation packs. The girls design, produce and distribute these packs free of charge to secondary schools to ensure that other girls can stay in school with dignity and without shame during their periods. At the same time, they learn about business, team working and building their own self confidence. 

## **Support for Children, Women and Older Persons (SCWOP)** 

Ethiopiaid funding provides welfare support to 1,071 elders and 100 orphaned vulnerable grandchildren living in poverty in Addis. A monthly pension payment is made to each elder so that they can purchase basic food staples, with extra payments for those with dependant grandchildren. Funding is also provided to support medication and surgery to treat eye problems and restore sight. 

## **Wings of Healing** 

Wings of Healing received funding for three main areas of work: a cervical cancer screening programme in Addis and Mekele (Tigray region);and the restoration of maternal health services in 4 health centres in post-conflict Tigray. 

## **Emergency and Recovery Funding** 

Ethiopiaid continued its commitment to supporting its core partners with emergency and recovery funding to support communities through challenges such as water and food shortages, tackling disease outbreaks, and post conflict/crisis recovery. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

The Trustees agreed to continue ringfencing £250,000 (from fundraised income and the charity’s reserves) for urgent emergency and recovery needs arising during the year, to avoid delays to the provision of assistance whilst a fundraising appeal is launched. 

## **Capacity Strengthening Programme** 

2025 saw us celebrate the third year of this fund, providing financial support to our core partners to access capacity strengthening training for needs identified by the partners themselves. Access to funding resulted in: 

- ▪Partners improved fundraising and income-generating capacity; 

- ▪Partners with developed communications skills; 

- ▪Strengthened leadership and governance; 

- ▪Financial growth; and 

- ▪Being more funder-ready for international donors. 

We were delighted to host our second Partner Peer Exchange (PPE), held on 13-14 November 2025 in Addis Ababa. Partners were involved from the inception of the event through to delivery and guided the design of session topics - with six presenting an area of their work and leading discussions. The focus of the PPE was to share ways of working, best practice, how to address common challenges, and to foster new connections and collaborations. 

44 staff representatives attended from 16 partner organisations. We encouraged wide representation from each partner, not just senior leadership attendance. 

With positive feedback from our partners, the Capacity Strengthening Programme will continue in 2026 - along with the PPE, which is now an annual event at the request of our partners. 

## **Fostering funder connections with other funders** 

Ethiopiaid successfully shared international calls for proposals with its partners as well as training and development opportunities. Technical support and advice were offered by Ethiopiaid staff to support any applications made. 

Several introductions to other international funders were also made during the year. This resulted in six of Ethiopiaid’s partners directly receiving large grants of 5 figures or more. Ethiopiaid considers the championing of its partners to other funders an important area of work. This will continue in 2026 to enable partners to be sustainable, diversify their donor base, and less dependent on Ethiopiaid. 

## **Small grants programme** 

The small grants programme is a funding opportunity for locally registered Ethiopian charities to apply for a one-off grant of up to £20,000 for work aligned with Ethiopiaid’s global strategy. The programme enables Ethiopiaid to further its reach and assess potential for longer-term partnerships. Since its founding in 2015 the programme has provided over £1m in funding. In 2025 small grants were awarded to three NGOs in Ethiopia totalling £60,000. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

## **The Big Give Christmas Challenge** 

The Big Give Christmas Challenge is a match-funding campaign where donations to participating charities are doubled. Ethiopiaid provides champion funding for UK-registered charities that work in Ethiopia with the challenge of securing matched pledges from their donors. This enables us to reach even more programmes in Ethiopia, encouraging more support for the country. In 2025 Ethiopiaid’s champion fund supported 9 UK based charities with £50,000 of champion funds. This leveraged a further £240,866 in donations from the participating charity’s own supporters. The charities supported were: Exeter Ethiopia Link, For Ethiopia, Global Clubfoot Initiative, Hope International Development Agency, Hospice Ethiopia UK, MEKETA, Northwood African Education Foundation, Project Harar, and Together We Learn. 

## **Public benefit** 

To ensure that the utmost public benefit will be received, and the maximum amount of money can be forwarded to its partners, the charity keeps it costs to a minimum, maintaining a business model of facilitating action in Ethiopia but minimising action aside from fundraising in the UK. 

The charity predominantly supports local, Ethiopian-registered charities to promote capacity building and maximise cost effectiveness. 

The trustees are therefore confident that Ethiopiaid meets the public benefit requirements, and they confirm that they have taken into account the guidance contained in the Charity Commission's general guidance on public benefit where applicable. 

## **Policy on Grant Making** 

We are committed to investing in partnerships that expand our reach and impact across Ethiopia. 

Partnership selection is based on four principles: integrity, passion, excellence, and commitment. Before working with a new partner due diligence is undertaken to assess any potential risks. New partners are always considered through the lens of our global strategy. 

Ethiopiaid remains in partnerships as long as there is a clear need, and funding continues to make a significant impact. 

## **Fundraising Regulations** 

The charity adheres to the Institute of Fundraising Code of Practice, is registered with the Information Commissioners Officer, and the Fundraising Regulator. We also publish details of partner grants sent to Ethiopia annually as part of the International Aid Transparency Initiative (IATI). 

Complaints are recorded by the charity on the complaints register and shared with the Fundraising Regulator annually. In 2025 there were a total of 4 complaints received by the charity related to receiving communications from the charity. All complaints were dealt with immediately and any remedial actions required taken. 

The charity did not receive any data subject access requests during the year. There were no data breaches to report. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

## **Achievements and Performance** 

Key achievements for the year included: 

- ▪£1,655,594 worth of grants were made to 13 Ethiopian partners in our core portfolio; 

- ▪Voluntary income (excluding legacies) for the year totalled £1,507,523; 

- ▪Three small organisations were funded in Ethiopia through our small grants programme; and 

- Matched funding awarded through the Big Give Christmas Challenge leveraged a further £240,866 in donations for UK based charities delivering programmes in Ethiopia. 

## **Financial achievements against objectives set** 

- Individual giving raised £1,284,474, of which £810,918 came from regular gifts made by direct debit or standing order and £473,556 from direct postal and online appeals; 

- ▪Gift in wills totalled £1,084,965; 

- ▪Grants received from institutions, trusts and foundations totalled £251,809; 

- ▪Philanthropic gifts totalled £205,260; and 

- ▪A total of £255,931 was claimed back from HRMC through Gift Aid. 

## **Ethiopiaid’s Main Goals for 2026** 

## _Donor acquisition, stewardship and retention_ 

Focus will be given to recruiting new and reactivating lapsed donors to the charity. We will continue work on strengthening relationships with our donors and stewardship to mitigate attrition and ensure the charity has a sustainable donor base for the future. 

## _Developing income streams for the long term_ 

We will continue to seek opportunities to diversify and grow income streams which are sustainable and cost effective. This will include raising the charity’s profile in the UK’s philanthropic landscape, recruiting the next generation of individual donors, investing in our legacy and in memorium giving, and further development of our portfolio of grant makers. 

## _Working with our local partners to support capacity strengthening_ 

Building upon the success of our capacity strengthening programme we will offer funding for capacity training/needs identified by our partners and deliver opportunities to learn, share and connect throughout the year. The content of which will be driven by our partners. We will also create a ‘partner funding hub’ to share direct funding calls and offer technical support to partners who have the resources to apply directly to international funders. Our aim is to provide practical support to our partners to increase their effectiveness, social impact and expand their funder base. 

## _Global Strategy 2026-30_ 

In 2026 Ethiopiaid will launch our new Global Strategy shared by Ethiopiaid UK, Ethiopiaid Ireland, Ethiopiaid Australia and Ethiopiaid Canada with a focus on preparing for growth, working more globally (sharing resources and partner funding) and growing our capacity strengthening support. 

## **Financial Review** 

## _Investment policy and objectives_ 

Ethiopiaid does not invest any donations in the money market but uses deposit accounts to earn interest on any money until it is donated to our projects. 

Ethiopiaid uses different banks to divide any deposits between them, in case of any bank defaulting on the deposit. As such Ethiopiaid is very cautious about its investments and cash. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

In terms of ethical investments, Ethiopiaid does not invest in stocks and shares therefore no investments are considered 'unethical'. 

## _Reserves policy_ 

It is the policy of the Trustees that cash available for distribution at the year end is sent to Ethiopia when suitable projects are identified. The charity’s reserves policy aims to ensure Ethiopiaid and the work of its partners in Ethiopia are protected from the risk of disruption at short notice due to a lack of funds, whilst at the same time ensuring that income is not retained for longer than required. 

Being able to provide funding when it is needed is central to Ethiopiaid’s work and therefore it is essential that adequate reserves are maintained to support both operational activities and partner commitments. 

The Trustees consider an appropriate reserves level for the organisation to be the equivalent of six months of Ethiopiaid UK’s core running costs together with six months of planned partner grant commitments. Based on the 2026 budget, this equates to a target reserves level of approximately £1,186,860, comprising: 

- ▪Six months of running costs: £447,850; and 

- ▪Six months of partner grants: £739,010. 

At 31 December 2025, the charity held unrestricted general reserves of £1,191,658, which was in line with the target reserves level set by the Trustees. 

The Trustees continue to monitor reserves closely alongside future funding commitments, cash flow requirements and planned partner grant distributions to ensure reserves remain appropriate for the charity’s activities and risk profile. 

## _Principal source of funds_ 

Ethiopiaid’s principal source of funds is from regular gifts (standing orders and direct debits), direct appeals, significant philanthropic gifts, grants from charitable trusts and foundations, and legacies. We will continue to seek relevant and appropriate opportunities to raise funds where we feel there is a good return on investment, it will strengthen income for the future, or other significant benefit. 

## **Principal risks facing the charity** 

Managing risks effectively is integral to the achievement of Ethiopiaid’s vision. The CEO and Trustees ensure that a risk register is reviewed at each board meeting so that key risks are identified and mitigated. The Trustees are ultimately responsible for risk management and the effectiveness of Ethiopiaid’s internal control systems. The following framework is in place: 

- ▪The CEO maintains the risk register and reviews this on a regular basis; 

- ▪The Trustees review the strategic risks and the internal control measures; and 

- Policies are in place for raising complaints and concerns (whistle-blowing). There is also an antifraud, corruption and bribery policy in place. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

The main risks facing Ethiopiaid are: 

|**Internal alerts**|**Summary**|**Mitigation**|
|---|---|---|
|Financial<br>pressure<br>from<br>reduced<br>active<br>donors.|Challenging economic climate for our<br>donor base in the UK increases the<br>risk of donors reducing the value and<br>frequency of gifts. We recognise that<br>our aging donor profile poses a risk to<br>the longer-term funding pipeline.<br>Decline<br>in<br>regular<br>giving<br>makes<br>income more volatile and harder to<br>predict.|Ethiopiaid are investing in<br>long<br>term<br>acquisition<br>activities across all income<br>streams.|
|Financial<br>pressure<br>from increased costs.|Global<br>uncertainty<br>and<br>inflationary<br>pressures increasing the costs to run<br>the charity across all areas of the<br>business.|Income<br>and<br>expenditure<br>are closely<br>monitored<br>alongside<br>cashflow projections.<br>Invest<br>in<br>fundraising<br>activities that will<br>offset the rise in costs for<br>the immediate<br>and long term.<br>Seek to include core cost<br>recovery<br>in applications for funding<br>where appropriate.<br>Benchmark<br>the<br>charity’s<br>cost income<br>ratios with the sector to<br>ensure within<br>acceptable range.|



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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

|**Internal alerts**|**Summary**|**Mitigation**|
|---|---|---|
|Conflict,<br>tension<br>and<br>regulatory environment<br>in Ethiopia|Risk of conflict escalating internally<br>(e.g. Tigray, Afar, Amhara) as well as<br>risk of further conflict with neighbours<br>(Eritrea, Sudan) causing an increase in<br>demand for services and/or operational<br>and access challenges.<br>Inflationary<br>pressures<br>continue<br>to<br>impact budgets and value of grants to<br>partners.<br>Instability in middle east impacting fuel<br>shortages<br>create<br>further<br>uncertainty<br>and costs for partners.<br>New civil society restrictions create<br>operational<br>challenges<br>for<br>some<br>partners.|Close liaison with partners<br>to monitor the situation in<br>the field.<br>Share<br>direct<br>funding<br>opportunities with partners<br>and<br>offer<br>technical<br>support.<br>Adjust core partner grants<br>and<br>the<br>currency<br>that<br>funds are transferred in.|
|Safeguarding.|Although Ethiopiaid has limited direct<br>contact with vulnerable beneficiaries,<br>safeguarding risks may arise through<br>staff, events, partnerships and funded<br>activities.|Safeguarding:<br>Check<br>partners<br>have<br>plans<br>to<br>keep<br>staff<br>and<br>beneficiaries<br>safe<br>during<br>conflict.<br>Ethiopian<br>partners to have business<br>continuity plans in place,<br>and safeguarding policies<br>and procedures for training<br>and<br>enforcement.<br>All<br>partners<br>to<br>commit<br>to<br>Ethiopiaid's<br>code<br>of<br>conduct.<br>Event<br>participants,<br>staff<br>and<br>volunteers are all required<br>to<br>read<br>and<br>commit<br>to<br>Ethiopiaid's<br>safeguarding<br>policy<br>and<br>code<br>of<br>conduct. Training in this is<br>given prior to any overseas<br>visits.<br>Staff<br>are<br>trained<br>upon<br>appointment<br>with<br>refresher sessions once a<br>year.|



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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

|**Internal alerts**|**Summary**|**Mitigation**|
|---|---|---|
|Emerging technology<br>and cyber risks.|The rapid pace of digital transformation<br>is increasing the risks associated with<br>cyber security and the use of emerging<br>technologies. These include potential<br>data breaches, cyber-attacks, system<br>failures, regulatory non-compliance<br>and reputational damage.|<br>Multi Factor Authentication<br>(MFA) on Raiser's Edge<br>and<br>email<br>accounts,<br>annual<br>staff<br>awareness<br>training, secure backups,<br>GDPR-compliant<br>data<br>protection, third-party risk<br>management,<br>and<br>governance oversight.|



## **Safeguarding** 

All Ethiopiaid Trustees, employees and volunteers must read, understand and commit to Ethiopiaid’s safeguarding policy and code of conduct. Training for staff is undertaken annually as well as for the safeguarding lead on the Board. 

We expect all staff and Trustees of Ethiopiaid to adhere to the highest standards, ensuring that we do no harm; act at all times with integrity, accountability and transparency, and to work in the best interests of those we work with. 

Ethiopiaid’s safeguarding policies follows best practice and is drawn from ACFID Code of Conduct (recognised as a ‘leader’ in this), the Core Humanitarian Standard (CHS), ICRC and other bodies. 

We have robust safeguarding and whistleblowing policies in place and ensure that our Ethiopian partners also have a safeguarding policy in place that meets a minimum recognized standard. In addition we expect them to adopt our safeguarding policy. 

We have zero tolerance against discrimination in and out of the workplace. This includes any discrimination or unfair treatment towards our Ethiopian beneficiaries and partners, our volunteers, staff and donors. 

Our duty of care is not limited to just beneficiaries, staff and volunteers, but also includes children and vulnerable adults in the communities served by our partners who are not direct beneficiaries but may be vulnerable to abuse. 

## **Structure, Government and Management** 

## _Type of governing document_ 

The company is a charitable company, limited by guarantee and registered as a charity on 8 November 1989. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. 

## _Trustee selection methods_ 

The Trustees are responsible for the governance and oversight of the charity and have control of the Charity and its property and funds. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

Subsequent Trustees are appointed by the Trustees. Selection is based upon the skills, knowledge or experience which they can bring to the charity as well as their personal commitment to the charity's aims and objectives. The Trustees also aim to maintain a balance of Reed family members and external Trustees to maintain the charity's strong links to the founding family and the Reed company. 

The directors of the company are also charity Trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. 

Under the requirements of the Memorandum and Articles of Association, the minimum number of members of the Management Committee is six but (unless otherwise determined by ordinary resolution) the maximum number of Trustees that may be appointed shall be eight. Trustees shall serve a maximum term of three years after which Trustees can retire or be voted back on to the Trustee board. 

The Trustees hold at least three meetings a year including an Annual General Meeting. 

## _Policies and processes for induction of Trustees_ 

New Trustees meet existing Trustees, the CEO and others involved with the charity as appropriate. An induction pack is shared which includes: 

- the charity’s governing document; 

- the charity’s latest annual report and accounts; 

- minutes of recent Trustee meetings; 

- charity commission guidance ‘The essential Trustee: what you need to know (CC3)’, and ‘The hallmarks of an effective charity (CC10)’; 

- the charity’s policy on dealing with conflicts of interest; 

- ▪the charity's accepting funds policy; 

- the charity’s strategic plan; and 

- the charity’s safeguarding policy and code of conduct. 

## _The charity’s organisational structure_ 

In April 2025, Lisa Cousins left her role as CEO and was succeeded by Anna Lord who was previously Senior Partnerships Manager at Ethiopiaid for 10 years. 

Ethiopiaid finished the year with a staff team of 10 individuals, five of whom worked part time. The team report to the CEO who in turn reports directly into the Board of Trustees through the Chairperson. 

Ethiopiaid is a global fundraising and grant-making network with separately registered charities in the UK, Australia, Canada and Ireland. Together we raise funds from our respective countries to provide grants directly to local trusted partners. 

Our approach to fundraising is strategic and allows us to respond to trends and opportunities in each country of operation in a way that is market appropriate, follows best practice and recognizes differing charity legislation and professional fundraising codes. This allows us to expand our partner portfolio and the geographic reach of our projects in a sustained, predictable and lasting way. 

Each office is responsible for developing and implementing its own country specific fundraising plans, and together we focus on delivering our overarching Global Strategy through a unified organisationwide approach. 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

The Ethiopiaid UK CEO is also responsible for the overseeing all activities at Ethiopiaid Ireland (a separate entity) and its 2 staff members via a temporary management agreement (in place since May 2020). 

## _Relationship with any related parties_ 

In 2025 the charity benefitted from donated business support (HR and payroll) from Reed Specialist Recruitment Limited. Payroll was brought in-house mid-way through the year. Ethiopiaid was founded by Sir Alec Reed CBE in 1989 and he served as an Ethiopiaid Trustee until 2016. 

Ethiopiaid Trustee Alexandra Chapman is a member of the Reed Family, a shareholder of the Reed Family Companies and a Trustee of the Reed Foundation. 

Ethiopiaid Trustee Patrick Reed is a member of the Reed family. Patrick is the son of James Reed, the current Chairman of Reed Specialist Recruitment, and nephew of Alexandra Chapman the current Chair of the Board at Ethiopiaid. 

In 2025 donations were received from the following related parties: 

- Alexandra Chapman £845; 

- Alexandra Fenn £180; 

- Edith Prak £240; and 

- Michael Norman £20. 

- In 2025 expenses claimed by related parties: ▪ Helena Smith £118. 

All Trustees complete a Declaration of interests upon appointment which requires them to disclose: 

- If they are related to, or have a close personal connection with, anyone employed by the charity; 

- If they have (past and present) connections to an organisation which the charity comes into contact with e.g. beneficiary partner in Ethiopia; and 

- Pecuniary interests in the charity e.g. services, rent for property etc. 

At the start of each Board meeting Trustees are asked to inform the Board of any conflicts of interest. Any conflicts of interest are then minuted and the individual asked to step out of the meeting for any relevant agenda item discussion. 

## _Names of the Trustees_ 

Full list of Ethiopiaid’s Trustees and their appointment dates: 

- Alexandra Chapman, First appointed:18/09/03 Re-appointment: November 2024 

- ▪ Alexandra Fenn, First appointed: 11/12/07 

- Edith Prak, First appointed: 14/10/14 

- Michael Norman, First appointed: 05/05/11 - 30/05/25 

- Nicola Bullock, First appointed: 30/05/25 

- Dr Alex Gebreyes, First appointed: 27/01/2022 

- Patrick Reed, first appointed: 18/05//2023 

- Helena Smith, first appointed: 21/09/2023 

- Vanessa Catterall, first appointed: 23/11/2023 

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## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

## _Remuneration_ 

Sector benchmarking of salaries is undertaken regularly to ensure that the charity offers a fair wage that attracts and keeps qualified and experienced staff to lead, manage and support the delivery of the charity’s aims. 

The Trustees are ultimately responsible for approving the salary scale for the charity and for setting the salary of the most senior member of staff, the CEO. In 2025 the Board agreed to award a cost of living increase of 2.5% (effective from 1 January 2026) to all staff to mitigate the impact of inflation in the UK. 

Ethiopiaid Ireland has been without a CEO since May 2020. This role was substantially covered by the UK CEO during the year, in addition to usual duties, and included line management of one member of staff. The cost of additional hours worked by UK staff (CEO and Head of Finance) is offset by contributions from Ethiopiaid Ireland. In 2026, an updated working arrangement will be put in place to reflect management of Ethiopiaid Ireland’s fundraising, communications and finance by the Senior Management team in the UK. This will enable better operational integration and support for Ethiopiaid Ireland and will be reviewed at the end of the year. 

## **Statement of responsibilities of the trustees** 

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- ▪ observe the methods and principles in the Charities SORP; ▪ make judgements and accounting estimates that are reasonable and prudent; 

- state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the Trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

14 



## **Ethiopiaid** 

## **Report of the trustees** 

## **For the year ended 31 December 2025** 

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. 

## **Auditors** 

Godfrey Wilson Limited were re-appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity. 

Approved by the trustees on 1 June 2026 and signed on their behalf by 

## Alex Chapman 

A Chapman - Trustee 

15 



## **Independent auditors' report** 

## **To the members of** 

## **Ethiopiaid** 

## **Opinion** 

We have audited the financial statements of Ethiopiaid (the 'charity') for the year ended 31 December 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 10 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

16 



## **Independent auditors' report** 

## **To the members of** 

## **Ethiopiaid** 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees’ remuneration specified by law are not made; 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report. 

## **Responsibilities of the trustees** 

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

17 



## **Independent auditors' report** 

## **To the members of** 

## **Ethiopiaid** 

## **Our responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below: 

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance. 

(2) We reviewed the charity’s policies and procedures in relation to: 

- Identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance; 

- Detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and 

- Designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud. 

(3) We inspected the minutes of trustee meetings. 

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them. 

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations. 

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error. 

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included: 

- ▪Testing the appropriateness of journal entries; 

- ▪Assessing judgements and accounting estimates for potential bias; 

- ▪Reviewing related party transactions; and 

▪Testing transactions that are unusual or outside the normal course of business. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

18 



## **Independent auditors' report** 

## **To the members of** 

## **Ethiopiaid** 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charityʼs members those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed. 


Date: 8 June 2026 

## **Robert Wilson FCA (Senior Statutory Auditor)** 

For and on behalf of: 

## **GODFREY WILSON LIMITED** 

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD 

19 



## **Ethiopiaid** 

**Statement of financial activities** _(incorporating an income and expenditure account)_ 

## **For the year ended 31 December 2025** 

|Note<br>**Income from:**<br>Donations and legacies<br>3<br>Charitable activities<br>4<br>Investments<br>5<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities<br>**Total expenditure**<br>7<br>10<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>**Net income / (expenditure)**<br>**and net movement in funds**|Restricted<br>£<br>445,613<br>228,920<br>-<br>674,533<br>-<br>780,866<br>780,866<br>(106,333)<br>138,166<br>31,833|Unrestricted<br>£<br>2,407,906<br>-<br>36,272<br>2,444,178<br>219,633<br>1,562,338<br>1,781,971<br>662,207<br>1,229,451<br>1,891,658|**2025**<br>**Total**<br>**£**<br>**2,853,519**<br>**228,920**<br>**36,272**<br>**3,118,711**<br>**219,633**<br>**2,343,204**<br>**2,562,837**<br>**555,874**<br>**1,367,617**<br>**1,923,491**|2024<br>Total<br>£<br>2,247,835<br>139,755<br>51,282|
|---|---|---|---|---|
|||||2,438,872|
|||||246,929<br>2,392,470|
|||||2,639,399|
|||||(200,527)<br>1,568,144|
|||||1,367,617|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the accounts. 

20 



## **Ethiopiaid** 

## **Balance sheet** 

## **As at 31 December 2025** 

|Note<br>**Fixed assets**<br>Tangible assets<br>13<br>**Current assets**<br>Debtors<br>14<br>Cash at bank and in hand<br>**Liabilities**<br>Creditors: amounts falling due within 1 year<br>15<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Net assets**<br>16<br>**Funds**<br>17<br>Restricted funds<br>Unrestricted funds<br>Designated funds<br>General funds<br>**Total charity funds**|**£**<br>**229,849**<br>**1,825,141**<br>**2,054,990**<br>**(140,659)**|**2025**<br>**£**<br>**9,160**<br>**9,160**<br>**1,914,331**<br>**1,923,491**<br>**1,923,491**<br>**31,833**<br>**700,000**<br>**1,191,658**<br>**1,923,491**|2024<br>£<br>8,151|
|---|---|---|---|
||||8,151<br>96,164<br>1,409,902|
||||1,506,066<br>(146,600)|
||||1,359,466|
||||1,367,617|
||||1,367,617|
||||138,166<br>-<br>1,229,451|
||||1,367,617|



## **Total charity funds** 

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime. 

Approved by the trustees on 1 June 2026 and signed on their behalf by 

## Alex Chapman 

A Chapman - Trustee 

21 



## **Ethiopiaid** 

## **Statement of cash flows** 

## **For the year ended 31 December 2025** 

|**Cash used in operating activities:**<br>Net movement in funds<br>Adjustments for:<br>Depreciation charges<br>Loss on disposal of tangible fixed assets<br>Dividends, interest and rents from investments<br>(Increase) / decrease in debtors<br>(Decrease) / increase in creditors<br>**Net cash provided by / (used in) operating activities**<br>**Cash flows from investing activities:**<br>Dividends, interest and rents from investments<br>Purchase of tangible fixed assets<br>**Net cash provided by investing activities**<br>**Increase / (decrease) in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**|**2025**<br>**£**<br>**555,874**<br>**5,617**<br>**-**<br>**(36,272)**<br>**(133,685)**<br>**(5,941)**<br>**385,593**<br>**36,272**<br>**(6,626)**<br>**29,646**<br>**415,239**<br>**1,409,902**<br>**1,825,141**|2024<br>£<br>(200,527)<br>2,717<br>771<br>(51,282)<br>74,156<br>100,136|
|---|---|---|
|||(74,029)|
|||51,282<br>(2,848)|
|||48,434|
|||(25,595)<br>1,435,497|
|||1,409,902|



The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements. 

22 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

**1. Accounting policies** 

## **a) General information and basis of preparation** 

Ethiopiaid is a charitable company limited by guarantee registered in England and Wales. The registered office address is 1 Circus Place, Bath, BA1 2PG. 

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 and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Ethiopiaid meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. 

## **b) Going concern basis of accounting** 

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern. 

## **c) Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. 

23 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

**1. Accounting policies (continued)** 

## **d) Donated services and facilities** 

- Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. 

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

## **e) Interest receivable** 

- Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank. 

## **f) Funds accounting** 

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. 

## **g) Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 

## **h) Allocation of support and governance costs** 

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to charitable activities. 

## **i) Tangible fixed assets** 

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: 

Office equipment 

25% straight line 

Items of equipment are capitalised where the purchase price exceeds £1,000. 

## **j) Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

24 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **1. Accounting policies (continued) k) Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **l) Creditors** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **m) Grant commitments** 

Provisions for grants are made when the intention to make a grant has been communicated to the recipient. 

## **n) Financial instruments** 

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **o) Pension costs** 

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA. 

## **p) Foreign currency transactions** 

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end. 

## **q) Accounting estimates and key judgements** 

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are accrued legacy income and depreciation as described in notes (c) and (i) above. 

25 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

|**2.**<br>**Prior period comparatives: statement of financial activities**<br>Restricted<br>£<br>£<br>**Income from:**<br>Donations and legacies<br>678,473<br>1,569,362<br>Charitable activities<br>139,755<br>-<br>Investments<br>-<br>51,282<br>**Total income**<br>818,228<br>1,620,644<br>**Expenditure on:**<br>Raising funds<br>-<br>246,929<br>Charitable activities<br>695,700<br>1,696,770<br>**Total expenditure**<br>695,700<br>1,943,699<br>122,528<br>(323,055)<br>**3.**<br>**Income from donations and legacies**<br>Restricted<br>£<br>£<br>Donations<br>417,933<br>1,089,590<br>Legacies<br>27,680<br>1,057,285<br>Gift aid<br>-<br>255,931<br>Gifts in kind*<br>-<br>5,100<br>**Total income from donations and legacies**<br>**445,613**<br>**2,407,906**<br>Unrestricted<br>**Net income / (expenditure) and net**<br>**movement in funds**<br>Unrestricted|2024<br>Total<br>£<br>2,247,835<br>139,755<br>51,282|
|---|---|
||2,438,872|
||246,929<br>2,392,470|
||2,639,399|
||(200,527)|
||**2025**<br>**Total**<br>**£**<br>**1,507,523**<br>**1,084,965**<br>**255,931**<br>**5,100**|
||**2,853,519**|



26 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **3. Income from donations and legacies (continued) Prior period comparative:** 

|Donations<br>Legacies<br>Gift aid<br>Gifts in kind*<br>**Total income from donations and legacies**|Restricted<br>£<br>£<br>465,403<br>1,087,122<br>213,070<br>236,682<br>-<br>240,458<br>-<br>5,100<br>678,473<br>1,569,362<br>Unrestricted|2024<br>Total<br>£<br>1,552,525<br>449,752<br>240,458<br>5,100|
|---|---|---|
|||2,247,835|



*Gifts in kind relate to donated payroll and HR services received by the charity. 

## **4. Income from charitable activities** 

|Grants|**2025**<br>**Total**<br>**£**<br>**228,920**|2024<br>Total<br>£<br>139,755|
|---|---|---|



All income from charitable activities in the current and prior year was restricted. 

## **5. Income from investment** 

||**2025**|2024|
|---|---|---|
||**Total**|Total|
||**£**|£|
|Interest income|**36,272**|51,282|



All income from investments in the current and prior year were unrestricted. 

## **6. Government grants** 

The charitable company receives government grants, defined as funding from Guernsey Overseas Aid Commission to fund charitable activities. The total value of such grants in the period ending 31 December 2025 was £51,362 (2024: £49,500). There are no unfulfilled conditions or contingencies attaching to these grants in 2025. 

27 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **7. Total expenditure** 

|**Total expenditure**|||||
|---|---|---|---|---|
|Costs of generating donations and legacies<br>Other raising funds costs<br>Staff costs (note 11)<br>Grants payable (note 8)<br>Staff development<br>Insurance<br>Office expenses<br>Consultancy fees<br>Bank charges<br>Programme costs<br>Direct debit processing<br>Depreciation<br>Audit and accountancy fees<br>**Sub-total**<br>Allocation of support and governance costs<br>**Total expenditure**|Raising funds<br>£<br>213,058<br>6,575<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>219,633<br>-<br>**219,633**|Charitable<br>activities<br>£<br>-<br>-<br>263,088<br>1,858,192<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>2,121,280<br>221,924<br>**2,343,204**|Support and<br>governance<br>costs<br>£<br>-<br>-<br>100,581<br>-<br>3,758<br>3,034<br>71,272<br>523<br>1,723<br>8,795<br>11,861<br>5,617<br>14,760<br>221,924<br>(221,924)<br>**-**|**2025 Total**<br>**£**<br>**213,058**<br>**6,575**<br>**363,669**<br>**1,858,192**<br>**3,758**<br>**3,034**<br>**71,272**<br>**523**<br>**1,723**<br>**8,795**<br>**11,861**<br>**5,617**<br>**14,760**|
|||||**2,562,837**<br>**-**|
|||||**2,562,837**|



Total governance costs were £14,340 (2024: £13,230). 

28 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

**7. Total expenditure (continued) Prior period comparative** 

|**Prior period comparative**<br>Costs of generating donations and legacies<br>Other raising funds costs<br>Staff costs (note 11)<br>Grants payable (note 8)<br>Staff development<br>Insurance<br>Office expenses<br>Consultancy fees<br>Bank charges<br>Safeguarding<br>Programme costs<br>Direct debit processing<br>Depreciation<br>Audit and accountancy fees<br>Loss on disposal of fixed assets<br>**Sub-total**<br>Allocation of support and governance costs<br>**Total expenditure**|Raising funds<br>£<br>225,805<br>21,124<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>246,929<br>-<br>246,929|Charitable<br>activities<br>£<br>-<br>-<br>235,133<br>1,950,232<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>2,185,365<br>207,105<br>2,392,470|Support and<br>governance<br>costs<br>£<br>-<br>-<br>89,517<br>-<br>2,831<br>3,185<br>54,833<br>1,178<br>3,069<br>10,973<br>13,427<br>10,876<br>2,717<br>13,728<br>771<br>207,105<br>(207,105)<br>-|2024 Total<br>£<br>225,805<br>21,124<br>324,650<br>1,950,232<br>2,831<br>3,185<br>54,833<br>1,178<br>3,069<br>10,973<br>13,427<br>10,876<br>2,717<br>13,728<br>771|
|---|---|---|---|---|
|||||2,639,399<br>-|
|||||2,639,399|



29 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

**8. Grants payable** 

Grants are made for the purpose of supporting local partners to design and deliver effective and impactful projects in Ethiopia in line with the charity's objectives. The amounts payable and committed to in the period comprise the following: 

|**Grants**<br>_Grants to institutions:_<br>Ye-Amlka Lijoch Foundation (YLF)<br>Subtotal<br>Partners for Change Ethiopia<br>Sunrise Ethiopia Development Program<br>(SREDP)<br>Jerusalem Children and Community<br>Development Organization<br>Hamlin Fistula Hospital<br>Wings of Healing<br>Healing Hands of Joy<br>Studio Samuel<br>Support for Children, Women and Older<br>People (SCWOP)<br>The Big Give<br>Harmee Education for Development<br>Association (HEfDA)<br>Haqi Foundation<br>Delasalle Community Development<br>Organization (DCDO)<br>Hope of Light<br>Hospice Ethiopia<br>Nutrition for Education<br>Nexus Ethiopia<br>Action on Podoconiosis Association (APIDO)<br>Addis Integrated development Organization<br>(AIDO)<br>Advocacy Center for Democracy and<br>Development (ACDD)<br>Afar Pastoralist Development Association<br>(APDA)<br>Development for All (DFA)<br>Development Through Adult and Non-Formal<br>Education (DANFE)<br>Hope Enterprises<br>Hope Enterprises University College<br>Atsede's Maternity Clinic<br>Cheshire Foundation Action for Inclusion<br>Cheshire Services Ethiopia<br>Community Sustainable Development Aid|**2025**<br>**No.**<br>**1**<br>**6**<br>**2**<br>**2**<br>**1**<br>**1**<br>**2**<br>**2**<br>**4**<br>**2**<br>**1**<br>**1**<br>**1**<br>**2**<br>**1**<br>**1**<br>**1**<br>**3**<br>**1**<br>**4**<br>**1**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|**2025**<br>**£**<br>**61,338**<br>**276,156**<br>**110,258**<br>**316,000**<br>**20,000**<br>**50,000**<br>**65,000**<br>**265,000**<br>**68,000**<br>**55,000**<br>**50,000**<br>**3,480**<br>**40,000**<br>**25,000**<br>**6,710**<br>**25,000**<br>**20,000**<br>**214,000**<br>**50,000**<br>**117,250**<br>**20,000**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|2024<br>2024<br>No.<br>£<br>2<br>46,000<br>4<br>130,000<br>1<br>50,000<br>3<br>380,522<br>-<br>-<br>-<br>-<br>1<br>80,000<br>3<br>290,000<br>1<br>50,000<br>2<br>56,000<br>3<br>92,210<br>-<br>-<br>1<br>40,000<br>1<br>10,000<br>-<br>-<br>1<br>25,000<br>-<br>-<br>2<br>195,000<br>1<br>80,000<br>7<br>201,500<br>-<br>-<br>1<br>16,000<br>1<br>20,000<br>2<br>25,000<br>1<br>20,000<br>1<br>20,000<br>1<br>20,000<br>1<br>10,000<br>1<br>20,000<br>42<br>1,877,232|
|---|---|---|---|
||**40**|**1,858,192**||



30 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

|**For the year ended 31 December 2025**|||||
|---|---|---|---|---|
|**8.**<br>**Grants payable (continued)**<br>Subtotal from previous page<br>Pastoralist Initiative Development Aid (PIDA)<br>Inclusive Humanitarian Organization (IHO)<br>Mother and Children Rights Organization<br>(MCRO)<br>SENEthiopia|**40**|**1,858,192**|42|1,877,232|
||**-**<br>**-**<br>**-**<br>**-**|**-**<br>**-**<br>**-**<br>**-**|1<br>1<br>1<br>1|20,000<br>20,000<br>20,000<br>13,000|
||**40**|**1,858,192**|46|1,950,232|



|**9.**<br>**Grants commitments**<br>Grant commitments brought forward<br>Grants committed during the period<br>Grants paid during the period<br>Grant commitments carried forward<br>**10. Net movement in funds**<br>This is stated after charging:<br>Depreciation<br>Operating lease payments<br>Trustees' remuneration<br>Trustees' reimbursed expenses<br>Auditors' remuneration (excluding VAT):<br>Statutory audit<br>Other services|**2025**<br>**£**<br>**100,000**<br>**1,858,192**<br>**(1,758,192)**|2024<br>£<br>-<br>1,950,232<br>(1,850,232)|
|---|---|---|
||**100,000**|100,000|
||**2025**<br>**£**<br>**5,617**<br>**Nil**<br>**Nil**<br>**74**<br>**10,000**<br>**1,950**|2024<br>£<br>2,717<br>16,800<br>Nil<br>74<br>9,500<br>1,496|



In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements, and to prepare and submit returns to the tax authorities. 

During the year, one trustee (2024: one trustee) was reimbursed for travel expenses. 

31 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **11. Staff costs and numbers** 

Staff costs were as follows: 

|Salaries and wages<br>Social security costs<br>Pension costs|**2025**<br>2024<br>**£**<br>£<br>**325,269**<br>287,923<br>**24,202**<br>24,545<br>**14,198**<br>12,182<br>**363,669**<br>324,650|
|---|---|



No employees earned over £60,000 during the current period (2024: 1 employee £70,000 to £80,000). 

The key management personnel of the charitable company comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £68,299 (2024: £78,990). £6,006 was recharged to Ethiopiaid Ireland (2024: £2,253). 

|Average head count|**2025**<br>**No.**<br>**10**|2024<br>No.<br>10|
|---|---|---|



## **12. Taxation** 

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

32 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **13. Tangible fixed assets** 

|**Tangible fixed assets**||
|---|---|
||**Office equipment**|
||**£**|
|**Cost**||
|At 1 January 2025|**16,133**|
|Additions in year|**6,626**|
|At 31 December 2025|**22,759**|
|**Depreciation**||
|At 1 January 2025|**7,982**|
|Charge for the year|**5,617**|
|At 31 December 2025|**13,599**|
|**Net book value**||
|**At 31 December 2025**|**9,160**|
|At 31 December 2024|8,151|



## **14. Debtors** 

|**Debtors**|||
|---|---|---|
|Gift aid<br>Prepayments<br>Accrued income<br>Other debtors<br> **Creditors: amounts falling due within 1 year**<br>Trade creditors<br>Accruals<br>Other taxation and social security<br>Other creditors<br>Grants payable (note 9)|**2025**<br>**£**<br>**64,590**<br>**20,464**<br>**128,476**<br>**16,319**|2024<br>£<br>44,032<br>4,427<br>47,705<br>-|
||**229,849**|96,164|
||**2025**<br>**£**<br>**5,309**<br>**21,270**<br>**6,207**<br>**7,873**<br>**100,000**|2024<br>£<br>4,611<br>13,230<br>7,340<br>21,419<br>100,000|
||**140,659**|146,600|



## **15. Creditors: amounts falling due within 1 year** 

33 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **16. Analysis of net assets between funds** 

|**Analysis of net assets between funds**|||||
|---|---|---|---|---|
|Tangible fixed assets<br>Current assets<br>Current liabilities<br>**Net assets at 31 December 2025**<br>**Prior period comparative**<br>Tangible fixed assets<br>Current assets<br>Current liabilities<br>**Net assets at 31 December 2024**|£<br>-<br>131,833<br>(100,000)<br>Restricted<br>funds|£<br>-<br>700,000<br>-<br>Designated<br>funds|£<br>9,160<br>1,223,157<br>(40,659)<br>General<br>funds|**Total**<br>**funds**<br>**£**<br>**9,160**<br>**2,054,990**<br>**(140,659)**|
||**31,833**|**700,000**|**1,191,658**|**1,923,491**|
||£<br>-<br>238,166<br>(100,000)<br>Restricted<br>funds|£<br>-<br>-<br>-<br>Designated<br>funds|£<br>8,151<br>1,267,900<br>(46,600)<br>General<br>funds|Total<br>funds<br>£<br>8,151<br>1,506,066<br>(146,600)|
||138,166|-|1,229,451|1,367,617|



34 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **17. Movements in funds** 

|**Movements in funds**||||||
|---|---|---|---|---|---|
|**Restricted funds**<br>Dignity Period Project<br>Hamlin Fistula Hospital<br>Cheshire Ethiopia<br>Education<br>Emergency Relief<br>Nutrition for Education (N4ED)<br>Hope Enterprises<br>Hope of Light<br>Hospice Ethiopia<br>Maternal Health<br>Atsede's Maternity Clinic<br>Studio Samuel<br>Wings of Healing<br>Women and Girls<br>**Total restricted funds**<br>**Unrestricted funds**<br>_Designated funds:_<br>Murray Fund<br>_Total designated funds_<br>General funds<br>**Total unrestricted funds**<br>**Total funds**<br>The Afar Pastoralist<br>Development Association<br>(APDA)<br>Support for Children, Women<br>and Older People (SCWOP)<br>Action on Podoconiosis<br>Association (APIDO)|At 1<br>January<br>2025<br>£<br>1,828<br>25,340<br>91,732<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>19,266<br>-<br>-<br>-<br>-|Income<br>£<br>831<br>35,418<br>54,529<br>3,025<br>9,336<br>7,120<br>6,033<br>18,750<br>4,913<br>510<br>274,261<br>8,000<br>32,498<br>7,084<br>600<br>80,260<br>131,365|£<br>-<br>(50,000)<br>(146,261)<br>(3,025)<br>(9,336)<br>(7,120)<br>(6,033)<br>(18,750)<br>(4,913)<br>(510)<br>(255,845)<br>(8,000)<br>(51,764)<br>(7,084)<br>(600)<br>(80,260)<br>(131,365)<br>Expenditure|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>Transfers<br>between<br>funds|**£**<br>**2,659**<br>**10,758**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**18,416**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**At 31**<br>**December**<br>**2025**|
||138,166|674,533|(780,866)|-|**31,833**|
||-|700,000|-|-|**700,000**|
||-|700,000|-|-|**700,000**|
||1,229,451|1,744,178|(1,781,971)|-|**1,191,658**|
||1,229,451|2,444,178|(1,781,971)|-|**1,891,658**|
||1,367,617|3,118,711|(2,562,837)|-|**1,923,491**|



## **Purposes of restricted funds Dignity Period** 

To fund the expansion of a schools menstrual hygiene programme in the Tigray regions. 

## **Hamlin Fistula Hospital** 

To fund obstetric fistula surgeries, rehabilitation and midwifery training undertaken by this organisation only. 

35 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **17. Movements in funds (continued)** 

## **Purposes of restricted funds (continued)** 

## **The Afar Pastoralist Development Association (APDA)** 

To fund programmes to prevent harmful practices (FGM and early marriage) in communities in the Afar region of Ethiopia. To fund a fodder plant in rural Afar to produce animal feed for communities impacted by water and food shortages. Restricted funds were also raised for emergency relief and recovery projects delivered by APDA. 

## **Cheshire Ethiopia** 

To fund the costs of programmes for children and young people living with disabilities, this includes surgery, physiotherapy and rehabilitation, the provision of mobility devices, and a livelihoods programme for disabled households. 

## **Education** 

To provide access to quality education for students experiencing poverty. 

## **Emergency Relief** 

To provide assistance to existing partners during times of crisis for life saving interventions, this includes post crisis recovery projects to build resilience to future shocks. 

## **Nutrition for Education (N4ED)** 

To support 60 women aged 18-35 (and their families) who are working as maintenance staff at the Ethiopian Sport Academy in Addis Ababa, many of whom are under the poverty line despite having full-time jobs. This was noted by N4ED whilst working on other projects at the Academy. The Academy offers them space to start small businesses with each other and provide childcare. This gives the women the chance to earn additional income, buy/grow more nutritious food, and improve overall living conditions for their families. 

## **Hope Enterprises** 

To fund the technical vocational training programmes at the Addis Ababa Branch of Hope and associated core costs.  To fund bursaries for students at the University College. 

## **Hope of Light** 

To fund the purchase of a vehicle to support the community-based programme to prevent and treat cases of obstetric fistula. 

## **Hospice Ethiopia** 

To fund the delivery and expansion of a community based palliative care programme in Addis Ababa, Bahirdar and Hawassa. 

## **Maternal Health** 

To improve the provision of and quality of maternal health services for women who are pregnant and new mothers. 

## **Atsede's Maternity Clinic** 

To provide accessible and appropriate maternal health services for rural women in the mountainous Gurage region. 

36 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **17. Movements in funds (continued)** 

## **Purposes of restricted funds (continued) Action on Podoconiosis Association (APIDO)** 

To support prevention and treatment for people living with neglected disease Podoconiosis (Podo) in Ethiopia, alongside training health professionals in symptom management and diagnosis. 

## **Support for Children, Women and Older People (SCWOP)** 

To fund monthly welfare pensions for over 1,071 destitute elders and 100 orphaned vulnerable children. To fund eye screening and treatment for elders. 

## **Studio Samuel** 

To fund a project which trains girls to design and produce period packs which are then distributed for free to school girls to support them to stay in school. 

## **Wings of Healing** 

To fund a multi-year project to expand the free cervical cancer screening programme in Addis Ababa. 

## **Women and Girls** 

To support vulnerable women and girls to improve their lives and have choices about their futures. This includes survivors of gender based violence. 

## **Purposes of designated funds** 

## **Murray Fund** 

To provide investment in fundraising to improve financial sustainability of Ethiopiaid UK and to ensure we can commit to multi-year (2 years) funding to our maternal health partners Healing Hands of Joy, Wings of Healing, Hope of Light and Atsede's Clinic. 

37 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

|**17. Movements in funds (continued)**<br>**Prior period comparative**<br>At 1<br>January<br>2024<br>£<br>**Restricted funds**<br>Dignity Period Project<br>1,024<br>Hamlin Fistula Hospital<br>14,614<br>-<br>Cheshire Services Ethiopia<br>-<br>Education<br>-<br>Emergency Relief<br>-<br>Healing Hands of Joy<br>-<br>Hope Enterprises<br>-<br>Hope of Light<br>-<br>Hospice Ethiopia<br>-<br>Maternal Health<br>-<br>Atsede's Maternity Clinic<br>-<br>-<br>-<br>Studio Samuel<br>-<br>Wings of Healing<br>-<br>Women and Girls<br>-<br>**Total restricted funds**<br>15,638<br>**Unrestricted funds**<br>_Designated funds:_<br>Capacity building funds<br>16,750<br>_Total designated funds_<br>16,750<br>General funds<br>1,535,756<br>**Total unrestricted funds**<br>1,552,506<br>**Total funds**<br>1,568,144<br>The Afar Pastoralist<br>Development Association<br>(APDA)<br>Support for Children, Women<br>and Older People (SCWOP)<br>Action on Podoconiosis<br>Association (APIDO)|**17. Movements in funds (continued)**<br>**Prior period comparative**<br>At 1<br>January<br>2024<br>£<br>**Restricted funds**<br>Dignity Period Project<br>1,024<br>Hamlin Fistula Hospital<br>14,614<br>-<br>Cheshire Services Ethiopia<br>-<br>Education<br>-<br>Emergency Relief<br>-<br>Healing Hands of Joy<br>-<br>Hope Enterprises<br>-<br>Hope of Light<br>-<br>Hospice Ethiopia<br>-<br>Maternal Health<br>-<br>Atsede's Maternity Clinic<br>-<br>-<br>-<br>Studio Samuel<br>-<br>Wings of Healing<br>-<br>Women and Girls<br>-<br>**Total restricted funds**<br>15,638<br>**Unrestricted funds**<br>_Designated funds:_<br>Capacity building funds<br>16,750<br>_Total designated funds_<br>16,750<br>General funds<br>1,535,756<br>**Total unrestricted funds**<br>1,552,506<br>**Total funds**<br>1,568,144<br>The Afar Pastoralist<br>Development Association<br>(APDA)<br>Support for Children, Women<br>and Older People (SCWOP)<br>Action on Podoconiosis<br>Association (APIDO)|Income<br>£<br>804<br>10,726<br>221,732<br>500<br>13,672<br>1,577<br>8,755<br>51,703<br>8,598<br>29,020<br>222,312<br>5,600<br>59,266<br>2,720<br>601<br>70,510<br>110,132|£<br>-<br>-<br>(130,000)<br>(500)<br>(13,672)<br>(1,577)<br>(8,755)<br>(51,703)<br>(8,598)<br>(29,020)<br>(222,312)<br>(5,600)<br>(40,000)<br>(2,720)<br>(601)<br>(70,510)<br>(110,132)<br>Expenditure|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>Transfers<br>between<br>funds|£<br>1,828<br>25,340<br>91,732<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>19,266<br>-<br>-<br>-<br>-<br>At 31<br>December<br>2024|
|---|---|---|---|---|---|
||15,638|818,228|(695,700)|-|138,166|
||16,750|-|(16,750)|-|-|
||16,750|-|(16,750)|-|-|
||1,535,756|1,620,644|(1,926,949)|-|1,229,451|
||1,552,506|1,620,644|(1,943,699)|-|1,229,451|
||1,568,144|2,438,872|(2,639,399)|-|1,367,617|



38 



## **Ethiopiaid** 

## **Notes to the financial statements** 

## **For the year ended 31 December 2025** 

## **18. Operating lease commitments** 

The charity had operating leases at end of the prior year with total future minimum lease payments as follows: 

|Amount falling due:<br>Within 1 year<br>Within 1 - 5 years|**2025**<br>2024<br>**£**<br>£<br>**-**<br>16,800<br>**-**<br>16,800<br>**-**<br>33,600|
|---|---|



## **19. Related party transactions Trustee donations** 

In the year, trustees made total unrestricted donations to the charity of £1,285 (2024: £5,940). These donations were freely given at arms length with no benefit received in exchange. 

39