Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
Registered number: SC 209819 Charity number: SC 030428
COMRADES OF CHILDREN OVERSEAS
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charitable company, its Trustees and | 1 |
| advisers | |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 24 |
Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025
Trustees
Mr Steve Cram CBE, Chairman Prof. Matt Baillie-Smith Mrs Rebecca Brennan Mr Christopher Dixon Ida Juma Mr Carsten Staehr Ms Christine Stobbs
Company registered number
SC 209819
Charity registered number
SC 030428
Registered office
21 Ravelrig Park Balerno Edinburgh EH14 7DL
Accountants
Kinnair Associates Limited Chartered Accountants Redburn Road Newcastle upon Tyne NE5 1NB
Bankers
Lloyds Bank 102 Grey Street Newcastle upon Tyne NE1 6AG
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025
The Trustees present their annual report together with the financial statements of the charitable company for the year from 1 September 2024 to 31 August 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
The Trustees have referred to general guidance on public benefit when reviewing the aims and objectives and in planning future activities.
The principal objectives of the charitable company are:
a) the relief of suffering and distress of children throughout the world in areas stricken by poverty, natural disaster or war by providing support, facilities, equipment, supplies or funds; and
b) the advancement of education by providing educational facilities or equipment, funds or supplies for the benefit of children in such areas.
Activities undertaken to achieve objectives
Over the past year, COCO has generated essential income to support our international partnerships through a diverse programme of activities, including regional sporting events, global challenges, social events, and individual fundraising initiatives. We have continued to strengthen relationships with our in-country partners and expanded our network by welcoming a new partner in Uganda. A pilot project, supported by an established partner in Kenya, enabled valuable knowledge sharing and strengthened skills in sustainable construction and agriculture across both organisations. With strong monitoring and open communication in place, these partnerships have delivered meaningful impact. This includes provision of book covers for CBC materials, dormitory beds and transport, the purchase of land and title deeds, and the construction of a new classroom for 80 additional students. The programme also supported sustainable agriculture training for 100 women and solar power installation for a dormitory.
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COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Achievements and performance
Review of activities
The 2024–25 financial year saw strong successes across our overseas challenges programme. In November 2024, 14 supporters travelled to undertake a trek in Wadi Rum. While many of the payments were received in the previous financial year, £4,413 in unrestricted funds were recognised in this period from the trek.
In March 2025, supporters took on the incredible challenge of reaching Everest Base Camp. For many, this was a completely new experience and proved hugely popular, generating £12,562 in income.
We concluded the year’s overseas challenges with a pilot of the Santiago de Compostela Pilgrim’s Walk (12–19 May 2025). This trial involved CEO Carsten Staehr and a long-standing COCO supporter testing the route to assess its potential as a regular offering. The pilot generated £2,135 in income and was deemed a great success, with both participants praising the trek’s beauty and strong sense of community. As a result, this challenge will be repeated in the next financial year, with ambitions to grow participation.
Our wine tasting events in November 2024 and October 2025 also performed very well, generating a combined income of £9,623 in this financial year. Although the October 2025 event falls into the next financial year, early sponsorship and ticket sales contributed to this year’s income. These events continue to attract a loyal audience while also bringing in new supporters. The 2024 event sold out in record time, and we anticipate similar demand for 2025. Strong relationships with local suppliers, who provide wine, bread, and cheese at reduced or no cost, significantly enhance the profitability of these events.
Building on this success, we introduced a new Spanish-themed wine tasting event with a lighter, spring-focused feel. While ticket sales were initially slow, the event gained momentum and ultimately generated £4,799 in income. The evening was vibrant and distinctive, featuring new wines and flamenco performances that created a lively and engaging atmosphere.
In February 2025, we hosted two whisky tasting events, one in person at Sobremesa and another delivered online. These events generated £772. Originally organised as an “in aid of” fundraiser, the event later required additional support from the COCO team. While we are grateful to the supporter who initiated it and recognise its appeal to whisky enthusiasts, the level of staff resource required relative to the income generated means we will review whether to continue this event in future.
This year also marked a significant milestone as COCO celebrated its 25th anniversary. To commemorate this, we hosted a birthday event at One Strawberry Lane in Newcastle. While the primary focus was celebration rather than income generation, the event provided a valuable opportunity to bring together founders, trustees, and long-term supporters. The venue was provided free of charge, alongside donated wine, and the event generated £550 through small prize draws. It was a meaningful moment to reflect on COCO’s impact over the past 25 years and to build momentum for the COCO Ball later in the year.
The COCO Ball returned this year after a three-year hiatus, reimagined to mark the organisation’s 25th anniversary. While most planning took place during this financial year, the majority of income will fall into the next period. However, £800 was received within the 2024–25 financial year.
We remain incredibly grateful to our supporters. One individual-led “in aid of” event raised £2,956, and with encouragement from the COCO team, the organiser is keen to continue fundraising in the coming year. We also received £670 in unexpected donations from local organisations. Alongside this, we delivered a virtual bike ride challenge, raising £2,886.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Achievements and performance (continued)
Our athletic fundraising roots continue to play an important role. Team COCO renewals and sponsorships generated £355, and we were proud to support 25 runners in the Great North Run, raising £2,096. We also continue to benefit from a committed base of regular monthly donors, whose ongoing support is invaluable. Additional income streams such as Gift Aid, bank interest, Easyfundraising, and other one-off donations have also contributed positively this year.
Campaigns and appeals exceeded the previous financial year’s performance, generating a total of £18,196 through the Big Give 2024 Christmas Appeal and the Big Give Green Match Fund in Spring 2025. These funds have supported key food security and education projects within our overseas partnerships. This includes drought-resistant crop training in Bwayi to help communities tackle food poverty and build resilience to climate change. At Niaver Primary School in Bwayi, Kenya, where students currently lack recreational space, funding will support the development of a playground, sports field, and secure land ownership, facilities that are vital for child development.
Factors relevant to achieve objectives
1. Funders
With strong roots in the North East of England, we continue to benefit from a loyal regional supporter base, many attending our events. We are also grateful for support from donors across the UK and beyond, through sponsorship, regular giving, appeals, event attendance, and other contributions, both from long-standing and new supporters.
2. Partners
We continued working with Maasai Academy (via RedTribe) and Niaver CBO, expanding programmes to reach more children and improve safe shelter for learners. We also welcomed Equal Aqua Uganda, delivering an initial project alongside Niaver CBO, and look forward to developing this partnership further in the coming year.
3. Volunteers
Over the past year, we attended local university careers events to recruit volunteers. New volunteers have supported events and strengthened our internal capacity through administration tasks as part of career development modules, while returning volunteers continue to contribute their experience. We are proud of and deeply grateful to all our volunteers.
Financial review
Going concern
The Trustees are confident that the charity has sufficient resources to continue operating for the foreseeable future. On this basis, the financial statements have been prepared using the going concern assumption. Further information on the application of this basis is set out in the accounting policies.
Reserves policy
It is COCO’s policy to hold a reserve of 50% of annual operating costs in reserve. This year, we closed the year with £41,678 in reserves.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Overview of the year
The 2024–25 financial year was a strong and celebratory year for the charity, marking its 25th anniversary alongside continued growth in fundraising income and supporter engagement. Overseas challenges performed exceptionally well, with successful treks to Wadi Rum and Everest Base Camp and a pilot Santiago de Compostela walk, while events such as wine tastings remained a key income stream, complemented by new formats that attracted fresh audiences. Community fundraising, including “in aid of” events, athletic challenges, and regular giving, continued to provide vital support, alongside strong campaign performance through the Big Give. Anniversary celebrations, including the return of the COCO Ball, helped strengthen relationships with long-standing supporters and stakeholders. Overall, the year demonstrated resilience, innovation, and increasing impact, with a strong platform in place for continued growth in the year ahead.
Structure, governance and management
Constitution
The charitable company, which is also a registered Scottish charity, is limited by guarantee and is governed by Articles of Association. It was incorporated on 9th August 2000 and recognised as a charity on 16th August 2000.
Methods of appointment or election of Trustees
As set out in the Articles of Association the number of directors is not subject to any maximum but shall not be less than two. Currently the organisation has eight directors. A person can be appointed as a director by an ordinary resolution or by a decision of the directors.
Organisational structure and decision-making policies
The business of the charitable company is managed by the Trustees who may exercise all the powers of the charitable company.
Policies adopted for the induction and training of Trustees
All Trustees are already familiar with the activities of the charity and have a genuine interest in the work that COCO undertakes. When new Trustees are appointed they are provided with an information pack including the Articles of Association, the latest financial statements and Chapter 9 Charity Trustees General Duties of the Charities and Trustee Investment (Scotland) Act 2005 as published by OSCR.
Financial risk management
COCO works to a formal risk management process on both an operational and strategic level. This process involves identifying the types of risks facing the charitable company, specifically in respect of income and expenditure, and prioritising them in terms of potential impact and likelihood of occurrence and identifying the means of achieving budgeted targets. As part of this process the Trustees review the adequacy of the charitable company's internal control procedures and take steps to ensure that systems appropriate to the size of the organisation are maintained.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Plans for future periods
In future periods, we will build on the success of our established fundraising events, including the wine tasting evenings and Spanish night, alongside other successful initiatives delivered this year, to further strengthen and diversify income generation. We will continue to prioritise sustainability across our current overseas partnerships, while looking ahead to enhancing essential school facilities such as classroom infrastructure, toilets, and the introduction of solar power to improve long-term resilience. In Bwayi, we will also expand our work in sustainable agriculture, providing further training to community members to support food security and climate adaptation. Alongside this, we will explore the feasibility and potential impact of developing a new overseas partnership to extend our reach and further our mission.
Members' liability
The Members of the Charitable company guarantee to contribute an amount not exceeding £1 to the assets of the Charitable company in the event of winding up.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charitable company 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 (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the Charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.
Approved by order of the members of the board of Trustees on 25 June 2026 and signed on their behalf by:
Mr Carsten Staehr
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COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025
Independent Examiner's Report to the Trustees of Comrades of Children Overseas
I report on the accounts of the charitable company for the year ended 31 August 2025 which are set out on pages 8 to 24.
Respective Responsibilities of Trustees and Examiner
The Trustees, who are also directors of the company for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 ('the Act') and the Charities Accounts (Scotland) Regulation 2006 ('the Accounts Regulations'). The Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination was carried out in accordance with regulation 11 of the Accounts Regulations. An examination includes a review of the accounting records kept by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner's Statement
In the course of my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 44(1)(a) of the Act and regulation 4 of the Accounts Regulations; and
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to prepare financial statements which accord with the accounting records, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with regulation 8 of the Accounts Regulations
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable proper understanding of the financial statements to be reached.
This report is made solely to the charitable company's Trustees, as a body, in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My work has been undertaken so that I might state to the charitable company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's Trustees as a body, for my work or for this report.
Signed: Dated: 29 June 2026 Detlev Anderson FCA Kinnair Associates Limited Chartered Accountants Aston House Redburn Road Newcastle upon Tyne NE5 1NB
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025
| Note Income from: Donations and legacies 3 Other trading activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2025 £ 18,996 - - 18,996 - 31,651 31,651 (12,655) 18,997 (12,655) 6,342 |
Unrestricted funds 2025 £ 47,454 47,465 512 95,431 39,651 73,916 113,567 (18,136) 53,472 (18,136) 35,336 |
Total funds 2025 £ 66,450 47,465 512 114,427 39,651 105,567 145,218 (30,791) 72,469 (30,791) 41,678 |
Total funds 2024 £ 53,247 91,583 813 |
|---|---|---|---|---|
| 145,643 | ||||
| 43,550 93,109 |
||||
| 136,659 | ||||
| 8,984 | ||||
| 63,485 8,984 |
||||
| 72,469 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 24 form part of these financial statements.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee) REGISTERED NUMBER: SC 209819
BALANCE SHEET AS AT 31 AUGUST 2025
| Note Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 17 Unrestricted funds 17 Total funds |
7,917 41,642 49,559 (7,881) |
2025 £ - 41,678 41,678 41,678 6,342 35,336 41,678 |
1,534 76,383 77,917 (6,070) |
2024 £ 622 71,847 |
|---|---|---|---|---|
| 72,469 | ||||
| 72,469 | ||||
| 18,997 53,472 |
||||
| 72,469 |
The Charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 25 June 2026 and signed on their behalf by:
Mr Carsten Staehr
The notes on pages 10 to 24 form part of these financial statements.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. General information
The charitable company, which is also a registered Scottish charity, is a company limited by guarantee. The members of the company and the Trustees are named on page one. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. It was incorporated on 9th August 2000 and recognised as a charity on 16th August 2000 (charity registration number: SC030428).
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Comrades of Children Overseas 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.
The financial statements are presented in pounds Sterling and rounded to the nearest pound.
2.2 Going concern
The Trustees are confident that the charity has sufficient resources to continue operating for the foreseeable future. On this basis, the financial statements have been prepared using the going concern assumption.
2.3 Income
All income is recognised once the Charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and noncharitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitable company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
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COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
- Office equipment 20/25% per annum on cost
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and 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.
2.10 Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.11 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 Pensions
The Charitable company contributes to personal pension plans for its employees and the pension charge represents the amounts payable by the charitable company to the fund in respect of the year.
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COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
2. Accounting policies (continued)
2.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Grants and donations Grants and donations |
Restricted funds 2025 Unrestricted funds 2025 £ £ 18,996 47,454 Restricted funds 2024 Unrestricted funds 2024 £ £ 32,490 20,757 |
Total funds 2025 £ 66,450 |
|---|---|---|
| Total funds 2024 £ 53,247 |
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COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
4. Income from other trading activities
Income from non charitable trading activities
| Unrestricted funds 2025 £ Sporting and other events 47,465 Unrestricted funds 2024 £ Sporting and other events 91,583 Investment income Unrestricted funds 2025 £ Bank interest 512 Unrestricted funds 2024 £ Bank interest 813 |
Total funds 2025 £ 47,465 |
|---|---|
| Total funds 2024 £ 91,583 |
|
| Total funds 2025 £ 512 |
|
| Total funds 2024 £ 813 |
5. Investment income
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COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
6. Expenditure on raising funds
Fundraising trading expenses
| Unrestricted funds 2025 £ Activity events direct costs 13,271 Support costs - Fundraising 26,380 39,651 |
Total funds 2025 £ 13,271 26,380 |
|---|---|
| 39,651 |
Fundraising trading expenses (continued)
| Activity events direct costs Support costs - Fundraising |
Unrestricted funds 2024 £ 21,793 21,757 43,550 |
Total funds 2024 £ 21,793 21,757 |
|---|---|---|
| 43,550 |
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
7. Analysis of grants
| Grants to institutions Grants to institutions Analysis of expenditure by activities The relief of suffering and distress of children The relief of suffering and distress of children |
Grant funding of activities 2025 £ 41,272 Grant funding of activities 2024 £ 33,398 |
Grants to Institutions 2025 £ 41,272 Grants to Institutions 2024 £ 33,398 Support costs 2025 £ 64,295 Support costs 2024 £ 59,711 |
Total funds 2025 £ 41,272 |
|---|---|---|---|
| Total funds 2024 £ 33,398 |
|||
| Total funds 2025 £ 105,567 |
|||
| Total funds 2024 £ 93,109 |
8. Analysis of expenditure by activities
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
9. Support costs
| IT costs Printing, postage and stationery Insurance Telephone Bank charges Sundry expenses Marketing and PR Beacon - database and fundraising platform Depreciation Independent examiners fee Wages and salaries National insurance Pension cost Loss on disposal of fixed assets IT costs Printing, postage and stationery Telephone Bank charges Sundry expenses Marketing and PR Beacon - database and fundraising platform Depreciation Independent examiners fee Wages and salaries National insurance Pension cost |
Fundraising expenses 2025 £ 519 - - - 1,528 76 2,005 - - - 21,576 165 295 216 26,380 Fundraising expenses 2024 £ 1,845 494 342 565 180 161 1,167 218 - 15,980 446 359 21,757 |
Charitable activities 2025 £ 3,661 396 843 220 - 578 - 3,333 - 1,740 52,011 397 710 406 64,295 Charitable activities 2024 £ 3,426 918 634 1,047 337 300 2,166 406 1,950 46,199 1,289 1,039 59,711 |
Total funds 2025 £ 4,180 396 843 220 1,528 654 2,005 3,333 - 1,740 73,587 562 1,005 622 |
|---|---|---|---|
| 90,675 | |||
| Total funds 2024 £ 5,271 1,412 976 1,612 517 461 3,333 624 1,950 62,179 1,735 1,398 |
|||
| 81,468 |
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
10. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the preparation | ||
| and independent examination of the Company's annual accounts | 1,450 | 1,625 |
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2025 £ 73,587 562 1,005 75,154 |
2024 £ 64,747 1,735 1,398 |
|---|---|---|
| 67,880 |
The average number of persons employed by the Charitable company during the year was as follows:
| 2025 | 2024 |
|---|---|
| No. | No. |
| 3 | 3 |
No employee received remuneration amounting to more than £60,000 in either year.
The Trustees consider key management personnel to be the Trustees and senior management of the charity. Remuneration and benefits received by key management personnel, including employer's national insurance and pension contributions amounted to £27,810 for the year (2024: £27,911).
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL) .
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
| 13. Tangible fixed assets Cost or valuation At 1 September 2024 Disposals At 31 August 2025 Depreciation At 1 September 2024 On disposals At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024 14. Debtors Due within one year Other debtors Prepayments and accrued income |
2025 £ 1,063 6,854 7,917 |
Office equipment £ 25,981 (15,996) 9,985 25,359 (15,374) 9,985 - 622 2024 £ 754 780 1,534 |
|---|---|---|
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
15. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income |
2025 £ 4,062 2,079 1,740 7,881 |
2024 £ - 2,320 3,750 |
|---|---|---|
| 6,070 |
Deferred income relates to ticket monies received for fundraising events that had not taken place at the year end.
16. Financial instruments
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 41,642 | 76,383 |
Financial assets measured at fair value through income and expenditure comprise of cash at bank.
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
17. Statement of funds
Statement of funds - current year
| Balance at 1 September 2024 £ Unrestricted funds General Funds 53,472 Restricted funds Sustainable Agriculture Training Hoja 239 Niaver Organisation, Kenya - Niaver Nursery and Resource Centre - Capacity Building 1,045 Kenya Facilitation/ Site Visits (MEAL) 623 Niaver Facilitation (MEAL) - Science Lab 14,590 Maasai Academy, Olorte, Kenya (Primary) 2,500 18,997 Total of funds 72,469 |
Income £ Expenditure £ 95,431 (113,567) 7,945 (7,902) 7,554 (6,477) - (14,722) - (50) - - 3,497 - - - - (2,500) 18,996 (31,651) 114,427 (145,218) |
Transfers in/out £ - (132) - 14,722 - - - (14,590) - - - |
Balance at 31 August 2025 £ 35,336 |
|---|---|---|---|
| 150 1,077 - 995 623 3,497 - - |
|||
| 6,342 | |||
| 41,678 |
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
17. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Mercy Primary School Sustainable Agriculture Training Hoja Niaver Organisation, Kenya Capacity Building Kenya Facilitation/ Site Visits (MEAL) Niaver Facilitation (MEAL) Science Lab Development Direct Maasai Academy, Olorte, Kenya (Primary) Niaver Nursery and Resource Centre Vertical Gardens Total of funds |
Balance at 1 September 2023 £ 51,628 153 420 967 1,045 623 228 8,251 170 - - - 11,857 63,485 |
Income £ 113,153 - 22,045 206 200 - - 6,339 1,200 2,500 - - 32,490 145,643 |
Expenditure £ (111,309) - (21,412) (673) (200) - (228) - - - (2,541) (296) (25,350) (136,659) |
Transfers in/out £ - (153) (814) (500) - - - - (1,370) - 2,541 296 - - |
Balance at 31 August 2024 £ 53,472 |
|---|---|---|---|---|---|
| - 239 - 1,045 623 - 14,590 - 2,500 - - |
|||||
| 18,997 | |||||
| 72,469 |
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
Description of funds
Restricted Funds Carried Over
At the end of the 2024 – 2025 Financial Year, COCO carried forward a total of £6,342 in restricted funds.
Total Restricted Income
A total of £18,996 was raised this year, for the following restricted fund programmes:
Niaver Sustainable Agriculture Training
Agriculture training was provided for 365 women this year. Funds were raised via the Big Give Green Match appeal in spring 2024, and a regular donor continues to restrict his monthly gift to this programme.
Niaver Organisation and Nursery
This year, several projects at Niaver CBO were supported, including the purchase of 0.2 acres of land with title deeds to secure long-term land sustainability, funded through a supporter’s “in aid of” contributions. Additional funding came from the Big Give Christmas 2024 appeal and donations from regular supporters during the year which saw the construction of a classroom block which will educate 80 students.
Capacity Building
Funds raised at a previous COCO Ball, totalling £1,045 for a digital project at Mercy Primary School, are largely being carried forward following the end of that partnership and will be used to strengthen another programme when the opportunity arises. This year, a one-off donation from a regular supporter also enabled support for an overseas coordinator.
Niaver Facilitation
Facilitation fees were provided to support the monitoring and oversight of projects run by Niaver Community Based Organisation. The £3,497 of restricted funds will be carried forward until the school can proceed with the lab project.
Science Lab
In Summer 2023, a supporter completed a cycle challenge to fund a science lab in line with Kenya’s curriculum. Due to ongoing land developments, the funds were redirected to classroom construction and securing title deeds. The donor remains engaged and continues fundraising. The £3,497 of restricted funds will be carried forward until the school can proceed with the lab project.
Maasai Academy
A St James’s Place grant funded CBC learning materials and book covers. Using designated funds for Maasai Academy, £2,915 supported dormitory beds and transport for the girls’ dormitory project, while £2,200 of the funds was used to install solar power for the dormitory.
Site Visits
Due to COCO’s lean operating model, a site visit was not feasible this year. With the Partnerships
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Docusign Envelope ID: 7EEA841B-6F26-8B56-8259-E1DF54A046BB
COMRADES OF CHILDREN OVERSEAS (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
Manager now working full-time, we plan to use these funds for a visit next year. £623 is being carried forward for this purpose.
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Restricted funds 2025 Unrestricted funds 2025 £ £ 6,342 43,217 - (7,881) 6,342 35,336 |
Total funds 2025 £ 49,559 (7,881) 41,678 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2024 £ - 18,997 - 18,997 |
Unrestricted funds 2024 £ 622 58,920 (6,070) 53,472 |
Total funds 2024 £ 622 77,917 (6,070) 72,469 |
|---|---|---|---|
19. Pension commitments
The charitable company contributes to personal pension plans for its employees. The assets of the plans are held separately from those of the charitable company in independently administered funds. The pension cost charge represents contributions payable by the charitable company to the funds and amounted to £1,005 (2024: £1,368). The charity is not committed to any pension payments other than to match the payments made by employees in the coming year.
20. Related party transactions
The charitable company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charitable company at 31 August 2025.
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