LIVELY MINDS

REPORT AND ACCOUNTS

for the year ended

31 DECEMBER 2017

REGISTERED CHARITY NUMBER 1125512

LIVELY MINDSREPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2017

CONTENTS

Officers & Professional Advisers

Trustees' Report

Independent Examiner's Report

Statement of Financial Activity

Balance Sheet

Statement of Cash Flows

Notes to the Accounts

PAGES

4 —9

10

12

13

14-21

LIVELY MINDSOFFICERS AND PROFESSIONAL ADVISERS

Board of TrusteesAlison Hart, ChairmanCharles EgertonRemus BrettBrian ScottShantonu Chundur (resigned March 2017)James Shepherd (resigned July 2017)Dr Susanna Payne (resigned July 2017)Colman Treacy (resigned November 2016)

Founder & CEOAlison NaRalin

Charity AddressLively MindsPO Box 72928LondonN1 3 4TL

Independent ExaminerLuke Holt, FCAPartnerKingston SmithDevonshire House6 Goswell RoadLondonEC1M 7AD

BankersHSBC picHigh Holborn BranchLondon

LIVELY MINDSTRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2016

LEGAL STATUS

Lively Minds is an independent charity, registered number 1125512, established under

a trust deed adopted on 1 August 2008. Lively Minds was registered as a charity on 14August 2008.

CHARITABLE OBJECTIVES

The objectives of the charity are:—

~ To further all aspects of the education (including social, hygiene and physical training) of

children and young persons up to the age of 25 in Sub-Saharan Africa by providing and

assisting in the provision of facilities, including, but not limited to, toys and other play

resources, and of training.

~ To advance in life and relieve needs of young people up to the age of 25 in Sub-SaharanAfrica by the provision of (a) recreational and leisure time activities provided in the

interests of social welfare and designed to improve their conditions of life; and (b)support and activities which develop their skills, capacities and capabilities to enable

them to participate in society as mature and responsible individuals.

~ To develop the capacity and skills of the members of the socially and economically

disadvantaged communities of Sub-Saharan Africa in such a way that they are better

able to identify, and help meet, their needs and to participate more fully in society.

PUBLIC BENEFIT

We have referred to the guidance in the Charity Commission's general guidance on Public

Benefit including the guidance 'public guidance: running a charity (PB2), ' when reviewing our

aims and objectives and in planning our future activities. In particular, the Trustees considerhow planned activities will contribute to the aims and objectives they have set.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Lively Minds is a partnership between three independent but linked charities. In the UK, Lively

Minds is registered with the Charity Commission for England and Wales, and the small team

works hard to raise income from a variety of sources and to provide technical assistance on

programme development, delivery and monitoring & evaluation. In Ghana, Lively Minds

Ghana is registered with the Department of Social Welfare as a Non-Government

Organisation, and in Uganda, Lively Minds Uganda is registered as an NGO. Lively Minds

Ghana and Lively Minds Uganda are focussed on implementing the Play Scheme programme.

These accounts relate to the financial statements of the Lively Minds (UK), but also include

the impact of the programmes delivered by Lively Minds Ghana and Uganda.

The charity regularly reviews the skills, experience and commitment of its Board of Trustees.Where there are gapa, potential new trustees are invited to an informal interview with the

4

Chairman and other trustees and to attend a Board Meeting as an observer before a formal

appointment is made.

RISK MANAGEMENT

The trustees have continued to assess the major risks to which the charity is exposed. Theprinciple risks that the charity is exposed are securing sustainable income and maintaining thequality of operations as the programme scales. Cashflow risk is mitigated by monthly review

of the funding pipeline for the following twelve months. The programme quality is carefully

tracked through real-time monitoring systems, KPls and evaluations. The charity's risk

register will be reviewed regularly not less than once every twelve months and annually at theannual general meeting.

PAY POLICY FOR SENIOR STAFF

All staff are paid in accordance with a salary scale which is reviewed each year.

FREE RESERVES

The trustees' policy on income reserves is to maintain sufficient reserves for the charity tocontinue to meet its ongoing commitments which in the current financial year means reservesof not less than three months' running costs. This currently equates to 678,000. During thefinancial year ending December 2017, reserves, which are shown as unrestricted funds in thebalance sheet, increased from 666,862 at the start of the year to 695,108. This is in line with

the reserves policy.

INCOME vs EXPENDITURE

The total income for the financial year was 6733,568 and the total expenditure was 6306,027.There are several reasons for the variance between the two. 6163,492 grant income from

Global Innovation Fund has been accounted as 2017 income as the grant conditions weresatisfied in 2017, but was actually received in March 2018 and is for 2018 activities. A grantfrom Omidyar Network was received in August 2017 and included 6107,555 for 2018/2019.activities. Several other smaller grants were received towards the end of the year. In addition,

the charity intended to recruit new staff members during the year. Several appointments tooklonger to fill than anticipated which significantly reduced projected expenditure during 2017.

LIVELY MINDS' PLAY SCHEME PROJECT

The charity seeks to achieve its objectives by directing, supporting and facilitating the

operation of its Play Scheme programme in Ghana and Uganda.

Lively Minds' purpose

The education and care a child receives in their early years is crucial to their future life and life

chances. But it is estimated that over 250 million children globally under five do not get accessto adequate care and stimulation, leading to poor health, poor education, lost life opportunities

and poverty. One of the biggest barriers is that parents in deprived rural communities lack the

information, skills and aspiration to provide their children with simple and affordable

opportunities to nurture their physical and educational development. Overcoming this barrier

is a pressing need and we at Lively Minds believe we have found a sustainable, scalable and

cost-effective way to bring high quality Early Childhood Care & Education to the hardest-to-

reach, resource-poor communities who need it most.

Play Scheme Programme

Our award-winning programme aims to give uneducated & marginalised Mothers the

knowledge, skills and confidence to provide better education and care for their children, using

the resources they already have. In each village, 30 tgolunteer Mothers" receive a 2-year

Parenting Course to provide them with practical ways to improve the health and development

of their children, and to improve their own life-skills. Importantly, these Mothers also run Play

Schemes for all the pre-schoolers in their communities so that the village children have the

much-needed chance to learn through play, for free, using home-made games.

In order to ensure scalability and sustainability, the programme is delivered through

government service providers, using a training of trainers approach. In Ghana, the Play

Schemes take place in state-run Kindergartens, and the training and support of the Mothers

is provided by Kindergarten Teachers and Education Service officials. In Uganda, the

Programme is delivered at village level by community Health Workers, and supported by local

government.' 'l

There are 4 key philosophies that underpin our programme and our

approach:

Empowerment is key: Our programme utilises an untapped resource asthe key change-agent: Mothers. In each community 30 to 50 uneducatedand marginalised Mothers are empowered to improve their children' shealth, education and development using cheap local materials. This

means that the materials and people-power are readily available and theScheme can be delivered and sustained at low cost. But it also has many

benefits for the Mothers. They gain knowledge in parenting and health

issues. From being marginalised and isolated, they gain in confidence and

standing within the community and become part of a peer support group.

This Mother has made ashape-stacker from a bowl

Learn through play: One of the most important ways for a child to learn

and develop is through play. Play arouses curiosity and stimulates

imagination, which leads to discovery and creativity. At the Play Schemes,children are arranged in small groups (1:5Mother-child ratio). They rotatearound 6 play stations covering different skill-sets that develop intellectual,

language and socio-emotional skills leading to improved school-readiness. Mothers usediscovery-based teaching methods, rather than rote learning which is the norm in formal

settings.

Cater for the holistic needs of the child: As well as providing learning

opportunities, the programme finds creative way to address wider

developmental needs. For example, to improve health, Children have tohandwash with soap at the start of each play session, sensitising them tothis life-saving activity. Mothers are given a parenting workshop every

month on basic child-care, health, parenting and lifeskills topics designedto give simple information and practical ways to take action, making use oflocal materials

Solutions must be sustainable: The Play Schemes are run and owned

by the community volunteers, using cheap local materials. Our aim is for

the whole programme to be integrated into existing Government channels,

so it can be scaled and sustained at low cost whilst at the same time

strengthening government systems.

Child handwashing

using a "tippy-tap"

REVIEW OF ACTIVITIES AND FUTURE PLANS

It is our sincere belief that this innovation has the potential to offer a genuinely huge impact

on the early childhood development crisis in the developing world.

In 2017, Lively Minds launched a 3 year "test and transition" strategy which will run until

December 2019. The purpose of this period is to find the most effective ways to scale the

programme by mainstreaming it in to government systems. We will open 300 Play Schemesduring this period, which will benefit 600 Trainers, 9000 Mothers and 30,000 children. The

Institute for Fiscal Studies is carrying out a randomised control trial to assess the programme

impacts. By the end of this period, we aim to have an optimised package that we can use toroll-out the programme on a large scale in Ghana, Uganda and other developing countries.

Highlights from 2017

We opened 65 new Play Schemes using the training of trainers approach and supported 55existing Schemes, reaching 4350 Volunteer Mothers, who in turn, taught 14,500 children.

This growth has been possible because we have transformed the way we deliver the

programme. We now work in partnership with local government teams to train and supportVillage Trainers. In Ghana the Trainers are Kindergarten Teachers and in Uganda they are

Village Health Workers. These Village Trainers then train and support Mothers in their own

villages to run their Play Schemes. We also provide training and coaching support for local

government so that they can monitor and support the Village Trainers and the Play

Schemes.

We are starting to see many benefits of this new delivery approach. As well as being able toopen many more Play Schemes concurrently and cost effectively, we are also seeing hugeimprovements in the confidence and abilities of the trainers and government teams.

We are making sure that we maintain the quality of the programme as we scale and investheavily in our monitoring and evaluation systems to measure and demonstrate the impact ofour work. This year, as well as our normal evaluations, the Institute for Fiscal Studies hasbegun conducting a randomised control trial of our Ghana programme. In 2018, they will betracking and comparing Trainers, Mothers and children in 40 villages who are part of theprogramme and 40 control villages. In 2018 we plan to invest more effort in building the skills

of these frontline workers so that we can hand-over more programme responsibility, freeingus up to move in to new regions.

In order to support our growth, in May we appointed Cianne Jones as our Country Director in

Uganda and in October we appointed Charlotte Kendall as our Curriculum Director, a post thatworks across both countries. We have also brought in several new field workers in Ghanaand Uganda.

FINANCIAL OVERVIEW

At the end of 2016 we received grants from Global Innovation Fund, Omidyar Network andUNICEF Ghana to support our expansion in Ghana, and from Grand Challenges Canada,Waterloo Foundation and Headley Trust to support our work in Uganda. During the courseof 2017 we were delighted to receive additional grants from ELMA Philanthropies and MarpleTrust for our work in Ghana and AKO Foundation and Allen & Nesta Ferguson Trust towardsour work in Uganda.

Lively Minds' annual income for 2017 was 6733,568. In addition to this UK income, we alsoreceived a grant of f87,347 from UNICEF Ghana directly in to our Ghana accounts and653,094 direct in to our Uganda account from Grand Challenges Canada. This income hasallowed the charity to cover its current commitments and will enable us to undertake new

projects in 2018.

In addition, we were selected by the Gratitude Network to be one of their awardees.Throughout the year they have given coaching support to our CEO as well as offering a three-day leadership skills course.

GRANTS RECEIVED IN YEAR

Lively Minds are grateful for the support during the year of the following:-

AKO FoundationAllen & Nesta Ferguson FoundationBFSSGlobal Innovation FundGrand Challenges CanadaGratitude NetworkHeadley TrustMarple Trust

Omidyar NetworkUNICEF GhanaWaterloo Foundation

ORGANISATION OF CHARITY

The charity is managed by a Board of Trustees appointed on a three-year basis. The trusteesduring the year and currently are as noted on Page 3.

TRUSTEES' RESPONSIBILTIES IN RELATION TO THE FINANCIAL STATEIylENTS

The law applicable to charities in England and Wales requires the Charity to preparefinancial statements for each financial year which give a true and fair view of the state ofaffairs of the Chadity and of its income and expenditure for that period. In preparing thefinancial statements, the Charity is required to:

~ Select suitable accounting policies and then apply them consistently~ Make judgements and estimates that are reasonable and prudent

~ State whether applicable accounting standards and statements of recommendedpractice have been followed, subject to any material departures disclosed and explained

in the financial statements

Prepare the financial statement on the going concern basis unless it is inappropriate topresume that the Trust will continue in operation for the foreseeable future; and

~ Observe the methods and piinciples in the Charities SORP (FRS 102).

Approved on behalf of the Trustees

ChairmanDated:,

I pjk. ~O

LIVELY MINDS

INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF LIVELY MINDSFOR THE YEAR ENDED 31 DECEMBER 2017

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31December 2017.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with therequirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Actand in carrying out my examination I have followed all the applicable Directions given by the CharityCommission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the Charity's gross income exceeded E250,000 your examiner must be a member of a body listed in

section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a memberof The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in

connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Charity as required by section 130 of theAct; or

the accounts do not accord with those records; or

the accounts do not comply with the applicable requirements concerning the form andcontent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other thanany requirement that the accounts give a 'true and fair view which is not a matter considered aspart of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to whichattention should be drawn in this report in order to enable a proper understanding of the accounts to bereached.

Devonshire House

60 Goswell RoadLondon EC1M 7AD

Luke Holt F

Independent ExaminerFor and on behalf of Kingston Smith LLP

10

LIVELY MINDS

STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 31 DECEMBER 2017

Income

Unrestricted Restricted Total

funds funds 2017

Note 6 8 8

Total

2016

6

Grants, donations and legaciesInvestment income

Income from other activities

2 56,432 673,229 729,661 222, 863136 136 80

3,771 3,771 10,254

Total income 60,339 673,229 733,568 233,197

Expenditure

Raising funds 5,419 5,419 25,826

Charitable activities 5 34,339 266,269 300,608 239,266

Total expenditure 39,758 266,269 306,027 265,092

Net income/(expenditure) 20,581 406,960 427, 541 (31,895)

Net movement in funds

Transfers between funds

20,581 406,960 427,541 (31,895)

7,665 (7,665)

Reconciliation of fundsTotal funds at 1 January 2017 66,862 6,870 73,732 105,627

7 I IN 0 131 0 I 2017 14 05 100 406 165 501 273 73 732

All of the above results are derived from continuing activities. There were no other recognised gains or lossesother than those stated above.

The accompanying accounting policies and notes form an integral part of these financial statements.

LIVELY MINDS

BALANCE SHEETAS AT 31 DECEMBER 2017

Nots 20176

20166

Fixed assetsTangible assets 10 419

Cunsnt assetsDebiore

Balance in cash and at bank164,237344,705

5,767281,592

Total assets 539 331 287,359

Cunsnt LiabilitiesCreditors 12 (8,088) (213,627)

501.273 73.732

Accumulated FundsRestricted Funds

Unrestricted Funds13 406,165

95,1086,870

66,862

Total Funds 501,273 73.732

c.L.Approved on behalf of the Board of Trustees on ...l 5..........&/K.R..MG.!8... and signed on theirbehalf by:

Name: 6(- (S&rJ HRP I

Qa S~ f Tf.~kvThe accompanying accounting policies and notes form an integral part of these financial statements.

LIVELY MINDSCASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2017

Year ended 31December 2017

6 6

Year ended 31December 20166 F

Cash flow from operating activities:

Net income/(expenditure)

Adjustments for:DepreciationInterest receivedDecrease/(Increase) in debtors(Decrease)/Increase in creditors

Net cash used in operating activities

Cash flow from investing activities:

427,541

31(136)

(158,470)~295,539

63,427

(31,895)

(80)(5,767)

213,627

175,885

Payments to acquire tangible fixed assetsInterest received

(450)136 80

Net cash provide by investing activities

Change in cash and cash equivalents

Cash and cash equivalents at the beginning of the year

Cash and cash equivalents at the end of the year

(314)

63,113

281,592

344,705

80

175,965

105,627

281,592

Analysis of cash and cash equivalents

Cash in bank and in hand 344,705 281,592

344,705 251.592

13

LIVELY MINDS

NOTES TO THE ACCOUNTS (CONTINUED)FOR THE YEAR ENDED 31 DECEMBER 2017

1.ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

These financial statements have been prepared in accordance with Accounting and Reporting by Charities:Statement of Recommended Practise applicable to charitites preparing their accounts in accodance with theFinancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January2015).

Lively Minds meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling which is the functional currency of the Charity. Monetaryamounts in these financial statements are rounded to the nearest pound.

1.2 Going Concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that thecharity has adequate resources to continue in operational existence for the forseeable future. Thus, theTrustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will

be received and the amount of income receivable can be measured reliably.

Grants received for a specific purpose are accounted for in restricted funds. Where income is received in

advance, recognition is deferred and included in creditors.

Income tax recoverable is relation to donations received under Gift Aid is recognised at the time of donation.

1.4 Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis inclusive of any VAT

which cannot be recovered. Expenditure is recognised once there is a legal or constructive obligation totransfer economic benefit to a third party, it is probable that a transfer of economic benefits will be requiredin 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 costsinvolved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to thatactivity. Shared costs which contribute to more than one and support costs which are not attributable to asingle activity are apportioned between those activities on a basis consistent with the use of resources.Support staff costs are allocated on the basis of time spent.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated towrite off the cost less estimated residual value over its expected useful life, as folllows:

IT equipment 3 years straight line

1.6 Financial Instruments

The Charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basicfinancial instruments are initially recognised at transactions value and are subsequently measured at theirsettlement value.

14

LIVELY MINDS

NOTES TO THE ACCOUNTS (CONTINUED)FOR THE YEAR ENDED 31 DECEMBER 2017

1.ACCOUNTING POLICIES

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquidinvestments with original maturities of three months or less.

1.8 Funds

Restricted funds: Restricted funds are to be used for specified purposes as laid down by the donor.Expenditure which meets these criteria is identified to the fun.

Unrestricted funds: Unrestricted funds are donations and other income received or generated forcharitable purposes.

1.9 Critical accounting estimates and areas of judgement

In the view of the trustees in applying the accounting policies adopted, no judgements were required thathave a significant effect on the amounts recognised in the financial statements nor do any estimates orassumptions made carry a significant risk of material adjustment in the next financial year.

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LIVELY MINDS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2017

4. Donations and grants 2017 20166

AnonymousAnonymous Donor TrustAnonymousAnonymousAKO FoundationCharities TrustVarious smaller donationsGift aid reclaimed

20,000 20,000500

1,000500 270

25,00083

8,347 11,5652,502 4,530

56,432 37,865

Included in donations were 53,625 (2016 - E1,540) received from three trustees (2016: 3 trustees) of thecharity.

5. Analysis of Expenditure

Staff costs

(Note 9)5

Project Other Totalcosts costs 2017

(Note 6)6 6 6

Total2016

Cost of raising funds 5,002 417 5,419 25,825

Charitable activitiesPlay Schemes - GhanaPlay Schemes - Uganda

99,39856,960

75,11441,804

17,4665,966

191,978104,730

154,50783,560

156,358 116,918 23,432 296,708 238,067

Governance costs

Total expenditure

3,900 3,900 1,200

161,360 116,918 27,749 306,027 265,092

Included within the above are E266,269 attributable to restricted projects (2016:5183,962).

6. Other costs

LIVELY MINDS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2017

Other costs include the following support costs:

20176

20166

Rent and ratesInsuranceBank chargesProfessional feesPrinting and photocopyingStationery and postageTelephone and internetWebsiteRecruitment & trainingEquipment costsFundraising matedialsDepreciation chargeOther expensesTravel costsGovernence costs

3,2502,740

3822, 188

438412

6,4611,2583,437

30299

2,527

3,4381,129

33038435

128271

15554222

1,200

23.422 7706,

7. Analysis of governance costs

External examination feeAccountancy fees

2017

3,000900

201661,200

3,300 1,200

Governance costs include expenses associated with the Trustees board meetings, AGM and externalexamination fees. None of the trustees (or any persons connected with them) received any remunerationduring the year.

8. Net movements in funds

This is stated after charging:Independent examiner's remuneration (gross of VAT)

2017

3,000

20166

1,200

9. Staff costs

Wages and salariesSocial security costsPension costsFreelance costs

2017f

121,46410,415

1,47728,004

20166

102,2106,795

161,360 109,005

The average number of employees for the year was 3 (2016 - 4).

18

LIVELY MINDS

NOTES TO THE ACCOUNTS (CONTINUED)FOR THE YEAR ENDED 31 DECEMBER 2017

9. Staff costs (continued)

No employee earned f60,000 per annum or more in the current or preceeding financial year.

No member of the Board of Trustees or person with a family or business connection with a Board memberreceived remuneration in the year.

Key management personnel consists of the Trustees and senior management team. The total employeebenefits of the key management personnel of the charity were f133,356 (2016:f65,787).

10.Tangible Fixed Assets

CostAt 1 January 2017Additions

At 31 December 2017

DepreciationAt 1 January 2017Charge for the year

At 31 December 2017

Net book valueAt 31 December 2017

At 1 January 2017

2017IT Equipment

f

450

450

31

31

41 8

11.Debtors2017f

2016f

SMP recoverableIncome tax recoverable from Gift Aid donationsAccrued incomeOther debtors

163,492745

164,237

1,2374,530

5,767

Included with debtors are f221,072 (2016:f Nil) of financial assets.

12. Creditors2017f

2016f

Grants received in advanceOther payments received in advanceHoliday pay accrualAccrualsOther creditorsSocial security

3,900371

3,817

104,393104,393

2,8621,979

8,888 213827

Included within creditors are f4,271 (2016: f109,234) of financial liabilties.

19

LIVELY MINDS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2017

12. Creditors (continued)

Deferred income - grants2017f

2016E

Balance at 1 JanuaryGrants received in the yearReleased to Statement of Financial Activities

Balance at 31 December

104,393

(104,393)327,256

(222,863)

1114,393

13. Restricted funds

Balance01-Jan-17

E

Movement in fundsIncome Expenditure

6 6Transfers

6

Balance31-Dec-17

E

Waterloo FoundationMarple TrustHeadley TrustElma PhilanthropiesAllan & NestaFerguson CharitableOmidyarGlobal Innovation FundBritish & ForeignSchools SocietyDidymusAshoka 6,870

40,00010,00030,00050,000

15,000138,286372,278

17,665

36,667

27,500

1,250

192,822

8,030 (7,665)

3,33310,0002,500

50,000

13,750138,286179,456

1,970

6,870

6,870

Balance01Jan-16

6

Movement in fundsIncome Expenditure

K

Transfers6

Balance31-Dec-16

E

Marr Munning

Sussex UniversityHeadley TrustComic ReliefDFIDOmidyarSouter trustBFSSDidymusAshoka

9,167

1,667

(5,000)

7,20020,000

5,0005,000

122,2574,000

12,6712,0006,870

(9,167)(7,200)

(21,667)(5,000)

(122,257)(4,000)

(12,671)(2,000)

6,870

9,834 184,998 183,962 8813,

19

LIVELY MINDS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2017

13. Restricted funds (continued)

Purpose of restricted funds

2016 FundsNlarr-Munning TrustA grant received in 2015 from the Marr-Munning trust was fully spent in 2016. This grant was tocontribute to the programme to improve early childhood education and care for 9,000 deprived ruralchildren in Ghana through community-run Play Schemes.

Sussex UniversityA grant in the sum of 57,200 was received from Sussex University to fund two fundraising interns for aperiod of 10 weeks.

Comic Relief55,000 was received from Comic Relief as the final instalment of a 3 year grant for education andempowerment in Ghana through community-run play and reading.

DFID

F5,000 was received from the Department of International Development (DIFD) as the final instalment ofa 2 year grant for the purpose of improving early years education and health for 3,700 deprived childrenand empowering 600 vulnerable caregivers in rural Uganda through community-run Play Centres.

OmidyarThe final instalment was from Omidyar Network Fund to support Lively Minds expansion project in Ghanaover 18 months.

British & Foreign School SocietyTwo tranches of funding were received from the British and Foreign School Society (BFSS)to bring thePlay Scheme project to 11 highly deprived rural villages in northern Ghana. The first tranche was apayment in arrears for 2016 activities; the second (of 810,000) was for July-December 2017.

Ashoka/Lego FoundationA grant in the sum of 86,870 was received from Ashoka/Lego Foundation to fund the Lively MindsAdvocacy Conference which will take place in 2017.

Souter TrustA one off grant in the sum of 54,000 was received from the Souter Trust to continue Lively Minds' work in

Uganda.

DidymusA one off grant in the sum of 82,000 was received from Didymus CIO to continue Lively Minds' work in

Uganda.

2017 FundsMarple TrustA one-off grant was provided to contribute towards the Ghana programme costs.

Omidyar NetworkThe final instalment from Omidyar Network was paid in August to support Lively Minds expansionproject in Ghana over 18 months.

Headley TrustThe first instalment of a two year grant towards the Llganda Play Scheme programme was provided.

20

LIVELY MINDS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2017

13.Restricted funds (continued)

Purpose of restricted funds201 n s continued

Elma PhilanthropiesThe first instalment of a three-year grant towards the scale-up of the programme in Ghana wasprovided.

Global Innovation FundA three year grant was signed in 2016 to fund Lively Minds to test and transition the programme to scalein Ghana. Two 6-monthly tranches of the grant were received in the financial year. In addition, a thirdtranche was received in 2018 for 2018 activities has been accounted for here as the grant conditionswere satisfied by the end of the year.

Allen & Nesta Ferguson FoundationProvided a one-year grant to support activities in Uganda.

The Waterloo FoundationThe first instalment of a two year grant towards the Uganda Play Scheme programme was provided.

14. Analysis of net assets between funds

Tangible fixed assetsNet current assets

Generalunrestricted

f419

94,689

Restrictedf

406, 165

2017Total funds

f419

500,854

Net assets at the end of the year 95,108 406, 165 501,273

Net current assets

Net assets at the end of the year

Generalunrestricted

f66,862

66,862

Restrictedf6,870

6,870

2016Total funds

f73,732

73,732

15.Operating lease commitments

Lively Minds has no commitments under operating leases. The premises at Waterlow Road is rented under alicense agreement and is cancellable with two months' notice.

16.Taxation

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