The directors present the strategic report for the year ended 30 September 2025.

Nearly 305 million people across 92 countries required humanitarian assistance in 2025, with an estimated 130 million displaced throughout the year. Conflict and displacement remain concentrated in regions highly prone to vector-borne and waterborne diseases, exacerbating health risks for affected populations. The combined effects of conflict, natural disasters, and climate-driven crises continue to impact Africa and the Middle East, where MENTOR remains committed to delivering life-saving interventions to reduce the burden and mortality from tropical diseases.

In 2025, the humanitarian landscape was shaped by a convergence of compounding crises. The ongoing Russian offensive in Ukraine and the continuing Israeli-Palestinian conflict continued to strain global humanitarian response capacity, while the large-scale conflict and mass displacement in Sudan sustained strong demand for emergency funding, with a strong focus on food assistance. Most significantly, the election of the new U.S. Administration in late 2024 triggered an abrupt and far-reaching disruption to global foreign development assistance, as the U.S. Government paused and restructured significant portions of its overseas aid budget. This shift had a cascading effect, with several other major governmental and institutional donors following suit in reviewing and reducing their own foreign assistance commitments. As a result, humanitarian budgets for protracted crises — where MENTOR has been active for many years — came under severe pressure. The impact was felt not only in acute emergency settings such as Nigeria, Central African Republic, and South Sudan, but also in countries where MENTOR had established long-term programmatic presence and multi-year funding commitments, including Angola, where sustained disease control programmes faced sudden uncertainty. Throughout these challenges, MENTOR demonstrated its characteristic resilience and agility: rapidly adapting team structures, diversifying its funding base, and deepening collaborations with local organisations and academic partners to ensure the continuation of evidence-based programmes jointly developed with in-country stakeholders. This adaptability enabled MENTOR to maintain its response in long-standing programme areas despite one of the most difficult funding environments the sector has faced in recent years.

Despite these industry challenges, MENTOR continued to deliver large-scale, high-impact interventions in 2025. Over the year, the organisation protected more than half a million people through vector control interventions, supported over 10,000 consultations, and delivered more than 3.9 million chemopreventive treatments. While these figures reflect the very real impact of the unprecedented funding disruptions experienced across the sector in 2025, they equally demonstrate MENTOR's continued ability to deliver meaningful, life-saving programmes at scale under exceptionally difficult circumstances, reinforcing donor confidence in the organisation's efficiency and effectiveness in disease control.

Looking ahead, while 2026 will undoubtedly continue to present challenges, there are reasons for cautious optimism. As the new funding landscape begins to settle following the significant shifts of 2025, MENTOR anticipates that donor strategies will consolidate and new frameworks for foreign assistance will become clearer. This stabilisation is expected to open up fresh funding opportunities and enable more informed, strategic planning across MENTOR's programme countries. MENTOR remains well-positioned to respond to these emerging opportunities, drawing on its strong reputation, operational efficiency, and proven track record in disease control to engage with both existing and new donor partners.

MENTOR saves lives and relieves suffering amongst people affected by tropical disease, in some of the world’s most challenging settings. This carries a mixture of inherent risks that the organisation actively manages across all areas of its operations.

Operational Risks and Uncertainties:

Delivering large-scale disease control support to communities requires a comprehensive package of activities spanning both health facility and community levels. Operating in harsh environments — across active conflict zones, natural disaster settings, and areas of mass displacement — demands that MENTOR's teams physically reach some of the most logistically challenging locations on earth. Many of these areas lack basic infrastructure such as airstrips or functional road networks, requiring teams to deploy across diverse and demanding terrain using fleets of heavy-duty four-wheel drive vehicles, small aircraft, boats, bicycles, and on foot. These realities place significant demands on both personnel and equipment, contributing to health impacts and staff turnover, as well as accelerated wear on programme assets and elevated maintenance and repair costs. Of increasing concern is the indirect effect of widespread reductions in humanitarian funding, which can destabilise already fragile operating environments, weaken local governance structures, and heighten insecurity in areas where MENTOR operates. MENTOR recognises this as an evolving operational risk and monitors the security situation on a daily basis across all programme countries, drawing on its established security systems, procedures, and in-country networks to ensure the safety of staff and assets at all times. These measures, alongside robust operational procedures, dedicated insurances, and ongoing staff training programmes, are designed to ensure teams remain equipped to operate safely and effectively even as the broader humanitarian landscape shifts.

Safeguarding risks:

The MENTOR Initiative operates strong Safeguarding approaches and practices across all countries in which its teams operate to ensure international standards as defined by the Inter Agency Standing Committee (IASC) and other globally recognised standards (Sphere and the Core Humanitarian Standards) were being met. MENTOR’s Safeguarding focal points at Board, HQ and in each country in which MENTOR works, have continued to strengthen Safeguarding practices across the organisation throughout the year. Training of all personnel across MENTOR country teams and their HQ management teams has continued on an ongoing basis to ensure that newly recruited staff and existing staff are able to respond appropriately within the Safeguarding framework to any issues arising in its programmes.

Security Risks:

MENTOR’s personnel are exposed to a greater level of insecurity than many other developmental organisations. Conflict based settings are the most common environment for the organisation’s activities, which requires adherence to strict security protocols and systems, day and night, in order to manage these security risks. MENTOR has well developed strict security policy and practice guidelines which are adapted specifically to each setting. MENTOR provides regular security training for all staff working in these places and focuses on good security management in all settings, to ensure that disease control programmes can be rolled out safely. MENTOR continues to review security on an ongoing basis to ensure its security policy and procedures are context appropriate and regularly updated.

Financial Funding Risks and Uncertainties:

Funding for humanitarian emergency responses is normally restricted by donor governments to a maximum of 12 months, after which there is no certainty of renewal. Funding depends on a combination of ongoing acute needs, sustained governmental political will, and budget capacity. The funding landscape shifted markedly in 2025, with the abrupt restructuring of U.S. foreign assistance triggering a broader reassessment of overseas aid commitments amongst several major donor governments. This has reinforced a trend that was already emerging — whereby funding decisions are increasingly tied to trade, security, and domestic political considerations rather than need alone, introducing a higher degree of unpredictability into the humanitarian funding environment than has historically been the case. Some international donors continue to provide longer-term funding in select countries, and MENTOR has previously secured multi-year commitments of up to five years for work in more stable settings, though such arrangements bring their own distinct financial terms and risks that require careful monitoring and management. In this context, MENTOR continues to actively diversify its donor portfolio across both governmental and non-governmental partners, maintain varied project end dates to reduce exposure to simultaneous funding gaps, and engage early with donors to ensure that programme transitions and any necessary country-level adjustments can be managed in a planned and orderly manner.

MENTOR is structured in such a way that it can increase or decrease its staffing and organisational structure flexibly as the global economic situation evolves. MENTOR will continue to monitor its donor strategy and to expand and diversify its donor portfolio to ensure maximum stability for the future.

MENTOR further manages this risk by maintaining a broad portfolio of donors, both governmental and non-governmental, and ensuring varied project end dates to reduce exposure to simultaneous funding gaps. Early engagement with donors ensures that planning for grant endings and possible country-level transitions can be managed effectively and without undue risk to the organisation overall. MENTOR continues to expand its non-governmental donor partnerships and has built additional support with a number of private sector organisations.

The organisation, its processes, systems, and operational delivery have been designed to run efficiently in line with international donor funding cycles, and MENTOR has grown steadily in both reputation and financial scale throughout its history.

The key performance indicator for MENTOR is reserves. The maintenance of a suitable level of reserves provides MENTOR with the financial security to deliver its operations effectively, including the ability to see programmes through to completion in the event of delayed donor support. Reserves remain stable and broadly sufficient for this purpose. As a not-for-profit entity, the generation of profit is not the aim of MENTOR; rather, financial sustainability is pursued solely in service of the organisation's humanitarian mission.

On behalf of the board

The directors present their annual report and financial statements for the year ended 30 September 2025.

The principal activity of the company continued to be that of a leading international agency devoted to reducing death and suffering from malaria and other vector-borne and neglected tropical diseases in humanitarian crises. It has been designed to strengthen the capacity of emergency-focused agencies and national partners to implement more effective and co-ordinated action to reduce malaria-related morbidity and deaths. It is an independent non-profit-making organisation. Its core expertise includes epidemiology, emergency field assessment and planning, disease surveillance, vector control and personal protection, laboratory diagnosis and investigation, case management, community mobilisation and applied operational research and evaluation. The company receives funding from governmental and non-governmental organisations and is subject to specified targets.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The results for the year are set out on page 10.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors 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 company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of The MENTOR Initiative (the 'company') for the year ended 30 September 2025 which comprise the Income and Expenditure Account, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its deficit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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

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

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We have made enquiries of management, and directors, regarding the procedures relating to identifying, evaluating and complying with

1. laws and regulations and whether they were aware of any instances of non-compliance;

2. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

3. the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

Discussion among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion, we identified potential for fraud in the following areas:

1. Management override of the controls in place

2. Revenue Recognition in terms of long term project accounting

3. Existence of accruals

The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to any significant, unusual transactions and transactions entered into outside of the normal course of business. Journals were reviewed for appropriate authorisation throughout the financial year as well as documentation over regular meetings between grant managers and directors. No evidence of management override of controls was found during the course of our audit work.

Revenue recognition was also identified as a significant risk which could lead to a material mis-statement due to fraud or error. Revenue is recognised on long-term projects with a high degree of estimation when calculating income and expenditure. Audit procedures performed included but were not limited to performing walk through tests to identify the control procedures in place and once an understanding of the revenue process was gained, a substantive test was carried out using a sample basis to ensure that revenue recognised on long-term projects was accurate and complete in the accounts. Cut off testing was also performed to ensure revenue has been recorded in the correct period.

The existence of accruals has also been identified as a significant area where the financial statements may be subject to error. Large accruals are made for circumstances that may not occur for a number of years, such as severance pay for local staff on the grant funding being withdrawn. The accruals testing included, but was not limited to, reviewing accruals to supporting documentation, such as laws and regulations for the relevant country and grant documentation. We also reviewed after date information to assess whether there were any events that supported the accruals had been correctly made.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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

The Mentor Initiative (company number 05126149) is a private company limited by guarantee incorporated in England and Wales. The registered office is Delta House, 16 Bridge Road, Haywards Heath, West Sussex, England, RH16 1UA.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company is contracted to carry out work for which they receive grants; this along with income from training and consultancy represents total income.

Training and consultancy income is included in the accounting period to which it relates and when the company has earned the rights to the income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

The company has entered into a consortium arrangement of which it is the lead agency. The company has control and is acting as a principle over the grant income received by the consortium therefore the income has been recognised in the financial statements.

Consortium income is recognised by reference to the stage of completion of the project which is reported as expenditure incurred by the consortium partners.

Supplies and other gifts in kind income are measured at the cost the company would incur if they were required to buy the goods.

United States Government contracts delivered by The MENTOR Initiative earn indirect income according to Negotiated Indirect Cost Rate Agreements. The MENTOR Initiative recognises this income at the provisional rate prescribed by USAID until a final rate is confirmed. This final rate could lead to an increase or decrease in indirect income and can be confirmed a significant time after the income is earned.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to income or expenditure.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

The tax expense represents the sum of the tax currently payable.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, are charged against income on a straight line basis over the lease term.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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

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

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Amounts recoverable on long term projects which are included in debtors and payments received on account included within creditors are material figures in the accounts and requires estimation and judgement regarding percentage complete of the project. The project income and expenditure is recognised in line with these assumptions.

Income from grants is recognised in proportion to the actual costs incurred on the project to date compared to the total estimated project cost.

Gifts in kind income is measured at the cost that would have been incurred by the company if it had to buy the goods itself. This involves an element of estimation

Provisions made to cover expenses that may be incurred from the possibility of evacuating a country quickly involves a significant amount of estimation.

The average monthly number of persons (including directors) employed by the company during the year was 18 (2024 - 17)

Their aggregate remuneration comprised:

"Wages, salaries and consultants fees” includes the costs of all roles undertaking a oversight role at Head Office level for The MENTOR Initiative. The MENTOR Initiative does not feel that the employment basis or country location of the person performing the role should be considered to show a true cost of “employees”. As required the number of employees includes those people performing their role under an employment contract and therefore does not include consultants.

The analysis of director's remuneration is as follows:

During the year the Directors' were paid a salary which equated to £149,289 (2024: £94,070).

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

The actual charge for the year can be reconciled to the expected charge for the year based on the surplus or deficit and the standard rate of tax as follows:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The directors have set a policy to aim to hold 3 months committed expenditure in reserves. The directors consider this level of reserves to be necessary and adequate for ongoing works, expansion and development of new initiatives and to provide for uninsurable losses.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The remuneration of key management personnel is as follows.

During the year the company entered into the following transactions with related parties:

The company is controlled by S Castela Lopes and the board of directors.