Company registration number.. M686778
Charity registration number.. 108410
ERA92 Elevate
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March ?025
Thomas Oliver & Associates Limited
Certified Public Accountant
l Moygashel Mills Park
Dungannon
Co Tyrone
BT717DH

EIL492 Elevate
Contents
Reference and Administrdtive Details
Truste¢s' Report
2to4
Independent Examiner's Report
5t06
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9t014

EIL492 Elevate
Reference and Administrative Details
Charity Registration Number
108410
Company Registration Number
N1686778
Registered Office
12 Mill Square
Lisadell Avenue
Portstewart
Co Londonderry
BT55 7TB
Independent Examiner
Thomas Oliver & Associates Limited
Certified Public Accountant
l Moygashel Mills Park
Dungannon
Co Tyrone
BT717DH
Page I

ERA92 Elevate
Trustees, Report
The trustees, who are directors for the purposes of company law, present the annual report together with 1he
financial statements of the charitabl¢ company for the year ended 31 Mareh 2025.
Objectives and activities
Public benefit
We have continu¢d to support projects making a significant impact on the lives of those itl greater need in Uganda
and we look fonvard to developing this work to impact on more people in th years to come.
Over the past year, we have deepened our support for sustainable social enterprise and youth training initiatives in
the slums of Uganda, furthering our commitment lo equipping women and young people with the tools they need to
break the cycle of poverty. We have remained steadfast in delivertnu on our charitable obje¢is'.
The prevention or relief of poverty through practical training programmes.
The advancement of education through grants and bursaries;
The relief of need related to youth, age, disability, financial hardship or otEier disadvantage.
And the promotion of citizenship and community development, particularly through social enterprise
and menloring.
This year. we continued to provide funding to a growing network of inspiring projects led by our partners in
Uganda, including digital skills training for young people, business development mentoring, and 50¢ial enterprise
incubation. Our continued partnership with era92 has proved transfomiative
the Kosovo and Katanga slum communities of Kampala.
extending the reacli and impact in
On my latest visit to Kampala in January 2025 J was delighted to see the continued growth and development of
leadership and an eco-system of sustainable social enterprises in the Kosovo slum Community, now creating jobs for
more than 200 people. It as an exciting and inspiring place to visit.
This year our partners in Uganda welcomed the largest intake ever into the era92 Elevate programme, extended its
reach to new communitie5, and made major strides in constructing a Headquarters Hub. What started as a feii,
shipping containers is now a rising structure and fijture home of innovation, collaboration, and opportunity. We
expect the entire Structu￿ to be complete in 2025. This Hub will host training programmes, entrepreneurship
incubators. events, fellowships and workspaces.
The impact of these initialives is both practical and profound
increased household incomes, improved food
security. educational access for children. and a growing sense of dignity and hope within the ¢ommunity.
I want to personally thank Emmanuel Trinity and the leadership team on the ground for their vision, resilien¢e. and
ingenuity in expanding these programmes. Their work is truly shaping a new model of community transformation
and changing mindsets from aid to investment. 'from handouts to handshakes.,
Looking ahead, our focus 15 on scaling what works. This includes supporting the expansion of vocational training
and building new partner5hips- in Uganda and here in ihe UK.
To our supporters.. thank you. Your generosity ￿e[S ¢v¢rything we do. Whether through monthly giving, event
sponsorship, or simply sharing our story you are part of ihis movement for change.
We are inspired by the lives already changed
and the many more yet to come.
Page 2

ERA92 Elevate
Trustees, Report
Trustees 4nd offieers
The trnstees and officers serving during the year and since the year end were as follows..
Trustees-
Diane Holt (appointed 28 May 2024)
Mr Tony Macaulay
Joy Hadden (appointed 28 May 2024)
Mr Stephen Blevins
Mr Alan Wright (appointed 28 May 2024)
Structure, governante #Dd managèment
Nalure ofgoverning document
The charity is a company limited by guarantee. governed by its Memorandum and Articles of Association. It has
been granted charitable status by the Charities CoTnmission for Northern Ireland under registration number NIC
108410
Financial instruments
Objeclives ondpolicies
The charity's activities expose it to a number of financial risks including credit risk. cash flow risk and liquidity risk.
The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which
provide written principles on the use of financial derivative5 to manage these risks. The charity does not use
derivative financial instruments for speculative purposes.
C￿hflOW risk
The charity's activities expose it primarily ¢0 the financial risks of changes in foreign QU￿enCY exchange rate5 and
interest rates. The charity uses foreign exchange foNard ¢ontracts and interest rate swap contracts to hedge these
exposures.
Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.
Credit risk
The charity's principal financial assets are bank balances and cash, trade and other receivables. and investments.
The charity's credit risk is primarily attributable to ils trade receivables. The amounts presented in the balance sheet
are net of allowances for doubtful receivables. An allowance for impaiment is made where there is an identified
loss event which, based on previous experience. is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid ￿ndS and derivative financial instruments is limited because the counterparties are banks
with higli credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of
ounterparties and customers.
Page 3

Ell492 Elevate
Trustees, Report
Liquidity risk
In order to maintain liquidity to ensure that sufficient ￿ndS are available for ongoing operations and future
developments, the charity uses a mixture of long-lern] and short-terni debt finance.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial
statements.
Statement of trustees, responsibilities
The t￿Stee$ (who are also the directors of ERA92 Elevate for the purposes of company law} are responsible for
preparing tli¢ trustees, report and the financial statements in accordance with applicable law and United Kintsdom
Accounting Standards (United Kingdom Generally A¢¢epted Accounting Practice), including FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year. Under company law the
trustees must not approve the financial statemenls unless they are satisfied that they give a true and fair view of the
state of affairs of the charitable company and of the incoming resources and application of resources, including its
incorne and expenditure, of the charitable company for that period. In preparing these financial statements, the
trustees are required to..
select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting Stsndards, comprising FRS 102 have been followed, subject to any material
departures disclosed and explained in the financial ststements. and
prepare the financial statements on the going concem basis unless it 15 inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any
time the financial position of the charitable company and enable them to ensure ihal the financial statements Comply
with the Companies Act 2006and Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding
the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial infom)ation included on
the charitable Company's website. Legislation governing the preparation and dissemination of financial statements
may differ from legislation in other jurisdictions.
The annual report was approved by the tNstees of the charity on 25 July 2025 and signed on its behalf by:
Mr Tony Macaulay
Trustee
Page 4

EIL492 Elevate
Independent Examiner's Report to the trustees of EIL492 Elevate ('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March
2025.
Respective responsibilities of trustees and examiner
As the charity's trustees of ERA92 Elevate (and also its directors for the purposes of cornp3ny law) you are
responsible for the preparation of the accounts in ac¢ordance with the requirements of the Charities Act (Northern
Ireland) 2008.
Having satisfied myself that the a¢counts of EIL492 Elevate are noi required to be audited under section 65 of
Charities A¢1 (Northem) Ireland 2008 and that an independent examination is needed. It is my responsibility to:.
examine the accounts under section 65 of the Charities Act
to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland
under section 65 (9){b) of the Charities Act
- to state whether particular matters have come to my attention
An independent examination does not involve gathering all the eviden¢e that would be required in an audit and
consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The
planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
Consequently l express no opinion as to whether the accounts present a 'true and fair, view and my report 15 limited
to those specific matters set out in the independent examiner's statement.
Basis of Independent Examiners, Report
I have examined your charity accounts as required under section 65 of ihe Ch2rities Act and my examination was
ca￿led out in accordanee with the general Directions given by the Charity Commission for Northern Ireland under
section 65{9)(b) of the Charities Act.
An examination included a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It algo included consideration of any unusual items or disclosures in the a¢counts. and
seeking expalnation5 from the triistees concerning any such matters.. I confim that no matters have come to my
attentioii in connection with the examination giving me cause to believe:
l. That accounting re¢ords were not kept in respect of EIL492 Elevate as required by section 63 of the Charities
2. That the accounts do not accord with those records. or
3. That the accounts do not ¢omply with the accounling requirements of the Charilies Act.
4. That there is further inforniation needed for a proper understanding of the ac¢ounts tobe reached.
Page 5

ERA92 Elevate
Independent Examiner's Report to the trustees of ERA92 Elevate ('the Company,)
Independent Examiner's Statement
T have completed my examination and have no concerns in respect of the matter (l) to (4} listed above and in
connections with the following directions of the Charity Commission for Northern Ireland, I have found no matters
that require drawing to your attention
Th
ssociates Limited
Certified Public Accountant
Certified Publie A¢countant
l Moygashel Mills Park
Dungannon
Co Tyrone
BT717DH
25 July 2025
Page 6

ERA92 Elevate
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total Recognised Gains and
Losses)
Unrestricted
funds
Total
2025
Note
Income and Endowments from:
Donations and legacies
Total income
22,309
Expenditure on:
Raising funds
(20.848)
120,848)
Total expenditure
(?0.848)
(20,848)
Net in¢ome
1,461
1,461
Net movement in funds
1,461
1,461
Reconeiliation of funds
Total funds brought forward
Total funds carried fonvard
(379)
(372}
1,089
1,089
Total
2024
Unrestricted
fund5
Note
Income and Endoivments from:
Donations and legacies
48,532
48,532
Total income
48,532
Expenditure on:
Raising funds
(135.512)
(lJ5,512)
Total expenditure
Net expenditure
(lJ5,512}
(1)5.51?}
(86,980)
{86,980)
Net movement in funds
(86.980)
(86,980)
Reconeili8tion of funds
Total fijnds brought fonvard
Total ￿ndS carried fonvard
86,608
86.608
{372)
All of the charity's activities derive from continuing operalions during the above two period5.
The funds breakdown for 2024 is shown in note 8.
The notes on pages 9 to 14 forni an integral part of these financial statements.
Page 7

ERA92 Elevate
(Registration number: N1686778)
Balance Sheet as at 31 March 2025
2025
2024
Note
Current assets
C￿h at bank and in hand
1.629
169
Creditors: Amounts falling due Ivithin one year
Net assetsloiabilities)
Funds of the charity:
Unrestricted income funds
Unrestricted funds
{540)
(541)
I,089
(372)
1.089
(37?)
Total funds
1.089
(37?)
For the financial year ending J l March 2025 the charity was entitled to exemplion from audit under section 477 of
the Companies A¢t 2006 relating to small companies.
Directors, responsibilitie5:
The members have not required the charity to obtain an audit of its aceounts for the year in question in
accordance with section 476; and
The directors acknowledge iheir responsibilities for cornplying with the requirements of the Act with respect to
accounting records and the preparation of accounts.
The financial statements on pages 7 to 14 wer¢ approved by the tn15tees, and authori5ed for issue on 25 July 2025
and signed on their behalf by:
Mr Tony Macatslay
Trustee
The notes on page5 9 to 14 form &n integral part of these financial stalements.
Page 8

EIL492 Elevate
Notes to the Financial Statements for the Year Ended 31 March 2025
I Chgrity status
The charity is limited by guarantee. incorporated in and consequently does not have share capital. Each of the
trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of
liquidation.
The address of its registered office is:
12 Mill Square
Lisadell Avenue
Portstewart
Co Londonderry
B T55 7TB
These finan¢ial stateT¥)ents were authorised for issue by the trustees on 25 July 2025.
2 Accounting polieies
Summary of significant accounting policies and key atcounting estimates
The principal acGounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all the years presented, unless othenvise slated.
Statement of compliance
Th¢ financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement
of Recommended Practice (applieable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities
SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) and
the Companies Act 2006.
Basis of preparation
ERA92 Elevate meets the definition of a public benefit entity under FRS 102. Assets and liabilitie5 are initially
recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy notes.
Going concern
The trustees ¢onsider that there are no material uncertainties about the charity's ability to conlinue as a going
concem nor any 5ignific2nt areas of uncertainty that affe¢t the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it 15 probable that the income will b¢
received and the amount of the income receivable can be measured reliably.
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ERA92 Elevate
Notes to the Financial Statements for the Year Ended 31 March 2025
Donations and legocies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In
the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity
is entitled to the funds, the income is deferred and not recognised until either those condition5 are fully met, or th¢
fulfilment of those conditions is wholly within the control of the charity and il is probable that these conditions will
be fulfilled in the reporting period.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure
heading that aggregate similar costs to that category. Where costs cannot be directly attributed io particular headings
they have been allocated on a basi5 consistent with the use of resources, with central staff costs allocated on the
basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are
allocated based on the spread of staff costs.
Raisingfunds
These are costs incurred in attracting voluntary inctsme, the management of investments and those incurred in
trading activities that raise funds.
Taxation
The charity is considered to pa5S the tests set out in Paragraph I Schedule 6 of the Finance Act 201 O and therefore it
meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially
exempt from taxation in respe¢t of income or capital gains received within categories covered by Chapter 3 Part I I
of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that
such income or gains are applied exclusively to ¢haritabl¢ purposes.
Cash and egsh equiv¥lents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-t¢rm highly liquid investtnents
that are readily convertible to a known amount of cash and are subject to kn insignificanl risk of change in value.
Borrowings
Interest-bearing bo￿owingS are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings
are subsequently carried at amortised cost, with the difference belween the proceeds. net of transaction c05ts. and the
amount due on redemption being recognised as a Charge to the Ststem¢nt of Financial Activilies over the period of
the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and
similar charges.
Borrowings are classified as current liabilities unles5 the charity has an unconditional right to defer settlement of th¢
liability for at least twelve months after the reporting date.
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ERA92 Elevate
Notes to the Financial Statements for the Year Ended 31 March 2025
Foreign exehange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets
and liabilities denominated in foreign eurrencies at the balance sheet date are reported at the rates of exchange
prevailing at that date.
The results of overseas operations are translated at the average rates of exchange during the period and their balance
sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net
assets and results of overseas operations are reported in other ¢omprehensive income and accumulated in equity
(attributed to non-controlling interests as appropriate).
Other exchange differences are recogni5ed in the Statement of Financial Activities in the period in which they arise
except for..
l } exchange differences on transactions entered into to hedge Certain foreign currency risks (see above).
2) exchange differences arising on gains or losses on non-monetary items which are recognised in other
comprehensive income; and
3) in the case of the consolidated financial statements. exchanoe differences on monetsry items receivable from or
payable to a foreign operation for iyhicli settlement is neither planned nor likely to occur (therefore forniing part of
the net investment in the foreign operation), which are recognised in other comprehensive income and reported
under equity.
Fund structure
Unrestricted income ￿ndS ar¢ general funds that are availabl¢ for use at the trustees discretion in fiirtherance of the
objective5 of the charity.
Financial instrnments
Classification
Financial assets and financial liabilities are reeognised when the charity becomes a party to the contractual
provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substan¢e of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after
deductiTkg all of its liabilities.
Page 11

ERA92 Elevate
Notes to the Financial Statements for the Year Ended 31 MAr¢h 2025
Recognition and measuremenl
All financial assets and liabilities are initially measured at transaction price (including transaction Costs), except for
those financial assets classified as at fair value through profit or loss. which are initially measured at fair value
(which is nornially the transaction price ex¢luding transaction costs), unless the arrangement consti￿teS a financing
transaction. If an arrangement eonstitutes a financing transaction. the financial assel or financial liability is measured
at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there ¢xisls
a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or
to realise the asset and settle the liability simultaneously.
Financial ass￿$ are derecognised when and only when a) the conrractual rights to the cash flows from the financial
asset expire or are settled, b} the charity transfers to another party substantially all of the risks and rewards of
owiership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and
Tewards of ownership, has transfe￿ed control of the asset to another paty.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged. cancelled or
expires.
3 Income from donations #Dd legacies
Unrestricted
funds
General
Total
funds
Donations and legacies.
Donations from individuals
22.309
Tot#l for 2025
22,309
22.309
Total for 2024
48,532
48,532
Page 12

ERA92 Elevate
Notes to the Financial Statements for the Year Ended 31 March 2025
4 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
6 Cash and e4sh equivalents
2025
2024
Cash at bank
1,629
169
7 Creditors: #mounts falling due wlthin one year
2025
2024
Oiher creditors
A¢crua15
540
540
540
541
8 Funds
Balance at I
April 2024
Incoming
resources
Resources
expended
Balgnee at 31
March 2025
Unrestricted funds
General
(20.848)
1,089
Balance at I
April 2023
Incoming
resources
Resources
expended
Balonce at 31
March 2024
Unrestricted funds
General
86,608
(1)5.i12)
(372}
Page 13

EIL492 Elevate
Notes to the Financial Statements for the Year Ended 31 March 2025
9 Analysis of net assets between funds
Unrestricted
funds
General
TotAI fund5 at
31 March
2025
Current &55ets
Current liabilities
1,629
1540}
1,629
(540)
Total net assets
1,089
1,089
Unrestricted
funds
General
Tot81 funds #t
31 Ilqarch
2024
Current assets
Current liabilities
169
(541)
169
(541)
Total net assets
(372)
(372}
10 Analysis of net funds
At l April
2024
Financing cash At 31 Mareh
flows
2025
Cash at bank and in hand
169
1,461
Net debt
169
At J April
2023
1.461
Financing cash At 31 March
flows
2024
Cash at bank and in hand
34
135
169
Net debt
34
135
169
I l Rel4ted party transactions
There iv¢r¢ no related party transactions in the year.
Page 14