Company $tratiOn number.. 2813337 Charity rewstratSon number. 1039039 Af rica 95 (Acornpany lirnited bygvaranteel Annval Report and Financial Statements f¢Ythe Year Ended 30 Septemtr 2022 Field &Jllivan timrted 9 Hare & Billet Road Bkickheath SE3 ORB 11 'ACCZRF6H 2W0912023 COMPANIES HOUSE A13
Africa 95 Contents Relerence and Administrati% Oall$ Trustees ReFQrt 2to7 Siaternent of Resp¢nstbl1 ities Independent Exan¥ner's Rep)rt 9tolO Statemeni of FSnancial <ti¥ities li 8alance Sheei 12 Notes to the Financial Statements 13to23
Africa 95 Reference and Administrative Detalls Trtssiees AIKia Adarns iJubukoLa thn¥*ml Mly4 Kalinda Alastair Ni¥en LVO. 08 Ayikwei Parkes Geetha Thafm4ratnam Sirniso Velemwnl Ellah Wakatsma tfI¢V OBE, Ichairl lo339 Charity Registration Number Company Aegistratlon Irnher 2813337 The charity 15 incOrated in England and Wales. 9 Hare & Billet Road 81ackheath SE3 ORB Relltytered Olfi¢e Prindpal Offi 66 Great &rffolk Street Londo SEI rl Independert Emaminer Field Sullivan Limr(ed 9 Hare & 8illet Road Blarkheath SE3 OR8 Wjcbtors: Bates Wells and Boithwaite 10 Queen Street PCe Lorldon ÉC3P 3AR ?¥nkers Naiwesr I Princes Street London EC2R 88P Page I
Africa 95 Trustees Report The iru5tees, whg are difedors for the cornpany under the COMnIeS Aci 2(. submit their report and the rinancial staiennts of Africa 95 for the year ended 30 September 2022 whith have been prepared in compliènte with current statutory Teouirernent5. The Companies Att 1985. the Charities SORP IFRS 1021 app1¥ble to charities preparing their accounts In accordance with the FinancKIl Repjrting Standard applicakle in the UK and Republic of Ireland and the charit 2011." and with the tharity'5 governing dLKumeni, its MernordThdvm and Articles of AssLKiat•)n. OblectI aThl actl¥ides Obit¢ts ondoims The ¢hariWs otyertNe is io advance the educatk)n of the public in the Urmted Kingdom or overseas in all mattefs relatint to the Africafi in all their fornts. including but not limited to theatre. dante. musi¢, cinema, architetture, literature and the Visual arts. The AKO Caine Prize for Afrbcan Writing has been awarded annually since 2000. aTrd the of ihe charity thrh0 the year fc<ud on lundraiyng events and the administration of the award. Publk beft¢frt The charity believes that thr wlicies and plae$ continL to provide puuie benetrt. The AKO Caine Priie Award Dinners are accoryyn*d by programmes in London for the short-&sted writer5 which include public readings and discussion5 at ne$ such as the scho of Oriental and African Studie5. the British Library, rhe Royal Overseas League. John Harvard Ubrary. and independent trthkshops. Thi$ serves to erthance public under5tandine and apprlation of the quality and character ol African wriknn8 in Enelish and thereby enriches the cultural experienee of a wder adership in this country. The trustees confimi that they have complied with ihe requioments of 5ertion 17 of the tharities Art 2011 to have due regard to the public benefit guidance published by the Charitycoffwmissth forEn6land and wa5. Achie¥ements •nd perfomvn¢e Summary oftheyear For 23 years. the Caine pri has attheforefront of innty4atrwe Cnge$ Within the African literary sphere. The prize has been comnwtted to providing access and breakn.ng down structural barrlefs to facilitate the success of African writers in publishing laThdscaFe. In sprte of the challenges presented by Cow19 pandemic. 2022 proved to be an iMmeasuraV $Cessful yearfor AKO Cèsne Prize. We established new p3rtner5hips wilh notable instituthMs. reinvi8OYated inteTeA in AfTican writin8 and implemented innovative way5 of eny8ine ¥Ath literature. This year saw a 130% increase in sutyni55ions from Wfitefs across the globe.. the INe shonlisted WTr(eT5 were 5ekned from a total of 349 entries from 27 African countrie5 by a judgine panel Chald by N¥erian academic. auihor and aWard-ning journalist Professor Okey Ndibe. Our partnership with AKO Foundation ended at the eod ol our financial year in 2022 ISeptemEerl. AKO Foundation had Supporte the Priie with a significant donatIn as part of a three-year partnÈrship. Their stspport and gene¢osity enabled the Caine Pri2e to continue to ert)w, increase its impact arO succe$5Fullv deliver another year Of the westigious Pre forAfrKan Writer5. We are Very grateful fortheir support and the enew they brought to the charity to help u$contin ourwork Page 2
Africa 95 Trustees Report The Vfinner. Fl¥¢ Years Ne Sund•y Idza Luhumyo is a Kenyan writer. Ver work has been wblished by Popula, Jaladi Africa, The Writiwsrn. Antholo8y, Baphash Literary & Arts Quartedy. MaThoko'$ 8crf)ks, Gordon Souare Review. Amsterdam's Z4M Maga2ine. Short story Day Africa. the New Internath?nalist. The Da. and African ArBuments. Her work has been shortlisted for the Short Story Day Afrita Prize. the Miles Modand Writing Stholarship. and the Gerald Xraak Award. She is the inau8ural winner of the Margaret 8usby New Date of Afric4 Aw•rd120201 and winner of the Short Story Day Africa Prize120211. Id luhumyo was recognised and listed arnong New African maga2ine's 100 m05t influential Afrrcans for her'incandexent 5torytellinl. Id2a's story Fise Years Next Sunday was the winner of this yearfs cair Prize. We are delighted for herandto share this story with thÈworld. The shortltst Thi5 yearf5 5hortlist was domiTrated by anthob8ie5 published by independent presses Cassava Republic p$$ lin the Commonwealth) and Akashic 8o¢ks IU&41: and say particular success from new partners Afritondo and cataSt Press. The five shortlisted 4lter$ for the 2022 AKO Caine Priie for African Writing included Joshua Chiioma (Nigerial for'collertor of Memories.. Nana-Arna Danqutyh (Ghanal lor Nlhen a Man Loves a Woman.. Hannah Giorgis lEthal for'A Oouble-Edged Inheritance.. ltha LuhumyolKenyal for'Fi¥e Year5 Next Sunday,. and 8I11ie McTern3n IGhanal for 7he Labadi Sunshine Barf. All of'the 5hortlisted writer5 Participated in a series of publK read&5 across the UK and the nrter wa5 announred at the award ceren)ny it the V&A Museum in Souih kensiwon to coincide wr¢h the Museum's Africa Fashion exhibition. Yhe judking p•net Nigerian author and award-winning jwmalitt Okey Nd1 (Chairl." FrenChvINean author and literary schdar Elisa Oiallo,. South Alrican dcaSt host and literary critic Letlhogonolo Mokgoroane.. London-b05ed Nigerian Visual artist knbko Okelarin.. Kenyan Book Bunk ctrfounder An8eL7 Wachuka. The Awlrd Cwernor)y The 2022 AKO Caine Prf2e Award Ceremony was held at the OrIa and tsert Mltseurn. London. on Monday 18 ju coinciding with the museum's AfrKa Fashion exhibition. Chair of the judgine panel, Okey Ndibe. announced Idza Luhurnyo as the winner of the 2022 AKO Caine Prize for Alrican Writbn& for her story, 'FNe Years Next Sunday., co-puWi5hed in Diyuption.. New Short FIttn From Africa by Cataw Prtsslshort Story DayAfri¢a. A video Pf4)file Of the shortli5ted writer5. accompanied by illustrations of their respettive stories wa5 screened at the event. The film was sThlu¢ed and direrted by U8andan-Briti5h tilmmaker Leah Magoye. with animaiions by Ueandan-8ritish illustrator Gisela Mulindwa. In addition to a drink5 reception. guests were invited to a private viewing of the museum's Alrica Fashion e¥hibrtion. "nner was seryed sfv)rtly afterwards. with speeches by Ellah Wakatama OBE. Cthairof the AKO Caine Prize- Sarah-020 IratK¥r. Directcrf ol the Pnze.. and Dr Trlstram Hunt. Direttorof the V&A. Page 3
Africa 95 Trnstees Report 1022 Workshop. and Ewjtstons: In response to the diyuptNe effeas of COVItWndemic. )lancIng eknbal iravel restrictions and the Priie's ommitment to the development of writers of the Afri¢¥ continent. we piloted a regional wrrting workshop in Qpe Coast, Ghana for writers from the ECOWAS re8K)n. With a generous donation from Qrnegie Foundation and The Oppenheirner Mernorial Tru51. the 2022 workshop. took place in partnership w(th Writers Project of Ghana. cTrfounded by Mamle Xabu. a 2(#)9 Caine PTize-shortli5ted writer and Martin E&ble&be who partIpated in the 2014 Caine Prize workshop and wth¢se story gave the 2014 Anthology its tide.. The Gonjon Pin. We a grateful for the 1ftvaluat svpport from all three Organisatn5 for thr Continued supwrt. We a 150 Rrateful to Jowhor Ile. a wrnner of the EtisaLI¢ Prize foi Literarure. who Seed as the writing tutor, Elmina Bay Resorr and Befi Kweku Idum and his rnarkable staff at the resort. who hosted the Worksh with grate and kindness. We a grateful to ¢oTrsuttition with Professor Chike FTrk EdozRn. acthK. joumalisi wrrter and Director of New YO Univetsity. Accra. whom we rked ¥rith ITr consultation arbd tsn whose recommendation we eng38ed the services of local ven¢Jor5 wlw) re instrumental in the 5cesS of the prciett. We are al gratefvl for the twsprtality 5htswn by Prof. OrOku-knma profe550T of Liierattsre at Cape Coast Uner$rtY who hosted a dinnerforthe p4rtitipating ¥rritev5. The workshop provided fellowship and the sense of renewal folkMn8 the di5rvptive impact of The pandemic. The experience was ennched by the mix of ¥Dung emerging writers with an dder multl-award-wittnirtg writer, all bringing thelr differeny As a regionalty-focused workshop, all participarbts tre. fi.om across West Alri£a.' Victor fcvna.l&"erra Leonel. Elizabeth Johnson IGhaAal. Akua SeNaa Amankwah (Ghanal, knfi 8p.rko IGhanal. 'AbJdrey Obuobisa-Darko (Ghanal. Jeffrey Atuobi Anwuli Ojo8wu 9 (Ghan?)., Onenliye Nwachukwv (Nigerial. Akachi &irnora Eievabo INi8erial and $aNys•d Singhateh mie thrnbial. Anwuli Ojogwu iiavieated the role of daiNf edftor of the x)rkshop ènd tutored partKipaDts wth Jowhor I. Oi08wu described her days os 'characterised by many hours of Conversations with writers to find the heart of their stories,. Siories were discussed. ideas crafted. #ories read to each other and imwoved through critique by fellow writers and the tutors. At the end of ihe ¥nrkshop, the stories that emeT6ed we eVatNe, vi¥. and vibrant. written in rnulti-genre5 fr Irterary fiction to speculatNe. mystery and lonnce. We hope readers ol the alltholo will encounter therre5 abo Sacrifice, love, freedom. seW4isco¥ery. loss. all expressed in lan6uaEe that is wsual and lyrical. bordering on the experimentsl. It has become a traitiom to ifftclLM cornmunity en8a8en*nt. with a fLKus on education. as part of the annual )rkshop. This year. the writers We dIded into youps. the first wsitin8 Sl. Au#ustine College. established in 1930. and ihe second group Viling Ghana National Secondary School. ests1Iished in 1948. both in Elmina. where they en8oged the younR #wjents on wrsl>nB ond SrytelliB. In additK)n, the Caine Prize partred with The Writerfs Projert of Ghan¥ for a publi£ É%ent at the Goethe Institute where the writers read and discussed excerpts from their stories. The final night af workshop attmties rne to an end wifh a tribute to the celebrated authorand playwright. Ama Ataa Aidots. In addit to (cePtu?115In and completin8 3 short sw to a pulShable stsndard, the writers participated In a serles of TV intervie. sited historKal sites. attended and particlted in public readings at the Goethe Institute, Accra and at an event c(NnmemoratinÈ the legaryof Ghanaian scholar, Arna Ats Aidoo. In addition to the public events, the writers tre invited to dinner Prof. Kwa op0kAemaO& professor of Literature at Cape Coast Univefstty, Ghana. Whe they enga8ed in c¢)n¥ersatiort5 ort the tyobal legac$ of African kntera1u. Pège 4
Africa 95 Trustees Report 2022 Anthology Partnershlp ¥Ath cass Rtyibllt Press: The Catne Prize anthob8y was published for the first tln Since 2018. aftec 3-yeèr break. our lofig-standing partnership with New Intemath?nalist Publishers had ended. the Prize announced a new publishing partnership th Cassava Republic Press. Fwnded in 2rJ)6 in Abuja, Nigeria and headed by the femtnist critic and academic Dr 8iÈ4 8akare-Yusef. Cassava Republic is an Alr3 wjblishing house with gbbal reath and infiuence. This new partnership signaled an historic move im line wr(h the Prize's ambtti¢)n to strengthen t$ Wth OrganiiatnS ntl literary endeavors Se0 the African contiheht. The 2022 Anthology tornprised of 2021 shortlisted storie5. Stories frorn the Prize's d¥r(al'Online Vimbai. workshop, stories from 2022 worshop in Ghana as well as the 2022 shortlistej stories, prowJin8 an opportunity to bring Caine Priie stofies tO8ether in one omnibus. We are proud th4t the irnpact of this collectoon wasacknowled8ed by being Ited amon8 Britde Paperfs Notable AffKan tr>)ks of 2022. Mwfia Mveragé Sorial Medla Events: We continued our (rnmertI to increa&ng the Oobal engagement of the shortfisted wrrf(ers and discussiot) of thelr 5torie5 in partnership with dtgital platlorm5 ineluding Medrd Diversrfd and Blath 8?Ilad. and Royal African society. Fashioning African bteratures at the V&A was a digltalwread Iwe event available on YouTube. Moderated by Naon{i Orléan5-Amissah who lead shortlisted writers in an e%ploration of the parallels. departures and varie.ty in story-shaping thai Corne from this exp3nsNe continenL The discussions set the shortlisied stories 38ainst the specific len5 of African fa5hJn over the last 70 years. challenging and celebraring the extensive range. craft and Trriyon of Afrira and her many CreatTr. The evenl t5 availae to watch on V&A's YouTube channel. Prtss & Publi¢ity- The Prize w35 Sad to end our WardIng lonK-term relatK)nship with our Pre55 and PR partner Raitt Cr & Asscciate5, folbwng their principal'5 retirnent 4nd intemol restrurturin8. We wll be forever grateful to the entire Raitt Orr team and to Patrickorr e5pecial for hisgenerosity. guidance and steadfast support. So¢ral Media Followin In¢ased and regular engagement on s131 med6a to be a &al succes& with ihe Priie's T4wtter account gaining more follVer5, speoficalty around the 2021 awards seas¢. wth an increase from 14.3X ta 15.IK since September 2020 and a clear jump bringing 311 rW followers to the page siftce June 2021. In Juty. the winner announcement ached 645 people on Facebook and the Priie's Insta8ram content reached 3,067 accounts. Following the announcemeftt. the Prize's T1tter account was 5[ted 21.7K times in Juty 2021 al0. with tyveets reathing a total excess of 281.IXN) users. Page S
Africa 95 Trustees Report Podcasts and new p4rtn¢ryhips Soma Nami Podcast . Kenrd based bty)k5hop, pothast. and book club co4oynded l award wnning dw>. Muthoni Mururb and Wendy NIOre. Linksto pJdca5t eP0deS below.. What is yourstory of Identity and Becoming? With Joshua Chiioma.. Our •torIeS Dont Have to Win¢ Us. with Hannah Gv8i5 Go(ngThrough Lrfe a$ an Otserver wth ltha LuhUf.' A Noir, bui also a Love Story th Nana-Ama Panquah.. In a City Like Accra All HUle na. Hust. 8illie M¢Tem•A= The sh st(xy Pothast- Small Pa5 Flnandal Te Polxyon reserves The Trustees have detennined that. in line wth be prattKe, reser¥es are maintained at a level which will Ènsiire that a minimum ol three months operètillÈ costs can be n)et. As indicated by the balance sheet, the Chdrfjty held reserves of unrestricted £160.591 at 30 septeIber 2022. the trustees consider to be rno than adequate when compared to the Companrfs F4anned fcTha"rd exkndrture. PrfJiclpolAuno7ng sources The principal s¢Jpwrterof the 2021ll2 Prize wasthe AKO FtyJndation. Twsteesand office The trustees and offKers Sen8 duringthe year and SIetheYeareftd as fo05.. rrurtees.. Alrcia Adarn5 Olubukola Akinyemi lapwjinted 27 March 20231 Mbia Kalinda lappointed 5Jvne 20231 Akstair Niven LVO. 08E Nii Awkwei Parkes Geetha Tharrnaratnam Simiso veleMni lapp)inted 5June 20231 Ellah Wakatsma (eY OBE, (Chairl Frank Laurence Cockroft Ires*ned l A4ust 20221 John Niepold Iresigned 21 October 20221 FiimmÈtta R¢xco Iresgned 2 Nobymber 20221 Page 6
Africa 95
TStee5 Report
Strutlure, eovernaneeand mana8ement
Ploture oJgorning dorumeftt
The governing dcumeNs ofihe cornp3nyare 115 MÈmcaNSum and Articles ofAssocktion.
Re(ruitmtrtand#ppointrne¥rt•ftnatees
Trustees. who are olso all directors of tornpany. a app)inted for an initTal three year term and retire bv
rotstion in accordonce th the Articles of Assc<vdiion. Appliotion5 lor uusteeship are sought by invitation. ln
coming to a de£sK)n on app)intment the exi5tin8 ljoard considers eliwbility. personal competenee and
relevant skills. Folltswine appoiTrtrrht the Chaitperson IThdts new trustee5 and exp15 the ¢ompany's
polic5 and pr¢xeéures.
OrgvnisoM¥nvlstllKture
In the course of the year, the dtrector en8aeed the servi(e5 01 a Pubfic Relations Offer and an eXpernCed
event planner for the aard se450n and the planning of the sew of events for the Prize's annual literary
ek.
The tn)sttes ackn1 their reswjnsibility for identifying tl •reas of risk - in PartUl3r the operational
3nd financial risks - to whith the (harity is exposed. an(F de¥isin8 SV5tem5 to mitigate the charivs risk
exposure.
The sole pseryt and foreseeable artryity of Africa .95 is The Caine Priie for Afri
Africa 95 ststement of Responsibilities The trustees (who are also the direttors of Afrta 95 for the purpjses of company lawl a reswnsible for preparin8 the trustees, report and the finar(l staterrents tn accordance applicabk law Bnd United Kin8dom Aecounting Standard5 Iunited Kingdorn General Accepted AccL4JntiThg Pratticel. includin8 FRS 102 Yhe Financial ReFVrting Standard aKable in the UK and Republ of Ireland". The and a¢couThts have been pad in accordance Iwth the provisions ITr the Companies Att 2( re&ting to small Compan$. Company law qUireS the trustees to prepa financial 5tsterrents for eaeh financial year. Under ctsmpany law the trustee5 myst not approve the finaThrial 5tattrnents unlE55 they are 5atisfbed ihat they give a true ano fair ew of the state of affairs of the ¢haritsble ComnY and of the incoming resources and application of resources. including its ific0r and eXndituTe. of the charitsble cornpany forthat perv)J. In Pparing these financial statements, thetrustees a wu1 to.. select suitsble a(Cnting pjlicies and apptythem cofigstentfrr obser¥e the methods and princip inthe Charsfies Y)RP.' make JdgemeNts and estimates that a iea50na&e aTrd prudent.. state whether applica14e accounting standards, (nprisIn£ FRS 102 have been followed. subject to any material dePartUS dixSosed and expkined in the financial staternents: and prepare the financu?l staternents on the gnE concern ba5t5 un$ it is Inapproprfate to presu that the chaiitsble companywll conttnue in bu5ine55. 7he trustees are sponSible for keeping yoper accountin8 records that t•n disc105e with reasonable accuracv at any time the financol w$ItTh o! ihe iharitab company and ertable thern to ensure rhar the financlal staiements Comp with the Cornpanies Att 2CI16. They a also responsible for 5afeguardinB the assets of the charrtable cornpany and hence for taking reaSOnae steps forthe preventK&n and detertK)n ef fraud and orher irregularitie5. The trUeeS are resw)nsltsle for the maintenante and inteyity of the corporate and financial information induded on the charitable companTrls *bSite. le8i51aiion governing the weparation and dissemination of financi31 Stateffnts rnay differfmm legslaiion otherlwisdirtions. Aproved by the trustees. and aUthOrd for i55ue 20 Seprernber2023 and signed on their behalf by: Ellah Wakatama Alffrey 08£ Chair of Trustees Pap8
Afvica 95 Independent Examiner's Report to the trustees of Affi 951'the Company,) I rewrt io the charitytrustees Iwho are a150 Oireetors for the purFxe of company lawl on rty examinatTr ol the accounts of the Africa 95 1.the charitable compan) for the year ended 30 5eptemlr 2022 which Cofflprise the Staterynt of Financial ktryils. the BalarKe Sheet and related fiote> 1123 Thi5 Port Is rnade 501ety to the charirfs trnstee5. as a body. in accordan sertion 145 Of the Charities Art 2011_ My work has been undertaken so that I might slate to the thaiiW5 trustees those rnatte l a reqLMred to state to thern in this rewrt and for no other purpose. fo the fullest extent permitted ty law. I do not accept or assume responsibility to anyone other than the charity and the thariws trustees as a boty. for my work. for th reFQrt, or for the oplTrions I have forffd. R•sponsibSlltles and basi5 olrtport As the charlS tNstees of Afrio 95 are responsible lor the wtparntion of the xcounts in accordance wlth the requirements ofthe Compans Att 2( I'the 21 A<VI. Hawng satislied myself that the accounts of Africa 95 are not required to be audited under Part IS of the 2{ Act and are eligible for independent examination. I report in re5pett of my eXaMinatn of your charlS acctyJntS as Coled out under section 14S of the Charities kt 2011 1.the 2011 Arfl. In carrying oui my examination I have followed the Oirectitsns gNen ty the Charity Comrrriss(on under sett#)n 14515llbl of the 2011 Att. independent Èxamination dres not invdve gathering all ihe ewdence that would be required in an avdit and consequently does not ¢fftr all the matters that an avditor constders in Riving their oplnion on the rinancial statements. The planning and condutt of am audit goes twd the limited aSSLtrance that an independent examination can prov. consequent l ewess no opinion as to wheiher the linancial statemenLS present a 'true and fairf wew and my rert is h"mited to those 5pcific matters set out in the independent examinerfs statement. Independent examinerfs rtatemefit I have cornpleted nw examination. I confirm that no matters ha¥e come to myattent#)n in connection wth the examination gNin8 me cause to be1e.. l. accounting ieeordswere not kept in pert of Africa 95 as required by section 386 of the I(6Art.. or 2. the accounts do not aCcd wfth those records.. or 3. the accounts do not cornply with the accountlng requirements of sertion 396 of the 21))S Act other than any reqUirnent that the accovnts è'true and fair ¥iew' is not a matter considered as part an independent examination.. or 4. the ateounts have Thot prèpared in actordante with the methods and prI1P1eS of the Statement ol Recommended PraCte for actounting and Teporting by <haritie5 applicable io char¢15 pTrparin8 their acc¢vnis in accordance with the Financial Rewrtin8 Standard applicab in the UK and Republic of Ireland IFRS 1021. I have no concems and have Cor aiTQSS Other matters in ccxinection wlth the eXaMat)n to whieh attention should be dcawn in this 1 irt cwdeF to ertable a proper understsnding of the 8cwunts to be reached. Page9
AfrKa 95 Independent Examlner's Report to the tntee$ of Afrlca 95 {'the Cornpany'l rm Sullivan FCA Field Sullivan Lirnited 9 Hare & Blllet Roa 8lackheath SE3 OR8 Pa8e 10
Afrita95 StatementdF1nawalAclrfoVtheVe3r Ended 305epiember 2022 IlrtknlirylncomeaThl ExpeThfrt¥reAtcotsrtard SImOfT01aI ftecow5ed Galn5 laissos) Tth DtIOnSndC OtleTltadiwaGtr*xs IThvE%fftThtiw 2.477 I50.545 Iso 17ÉI84 128 151.flJ5 150ffj73 Is1.1 25J24 177.505 IIDM) 301 1175i1R) 154J351 Éowi Tolil¢zfiWE IS346211 (54.lJ51 18gJ)5 1110.40 PlrtmL4vefflerthlLY IJ4M161 (S6.1ffj 82.522 TolillUrthtfON4rd 191.607 I12.(5 7&933 TotilfMd&carAÈd lorward 16 160.S91 7J42 167.933 19¢.607 61.SCOJ 24L16 Pyji
Afrlca 95 IRegistTation number: 2813337) Balance Sheet a5 at 30 September 2022 2022 2021 Ayted assets Ton8ible assets 12 Currentassets Debtors 6.322 178.660 30,030 231,120 Cash at bank and in hand 184.982 261,150 Creditows: AMoufvtsfalli duewilhin oneytaT 14 117.0491 13,3341 Nt currefrt •55rts 167.933 257,816 N•t ass•ts 167.933 258.116 olthe<h¥ity: Resrrlrted In¢ome funds Re5trirted fvnds 7.342 63.509 Unrestrrrted incoThfur Ufirestritted funds 160.591 194,607 Totalthjnds 16 167.933 258.116 For the linaneial year endinB 30 Septernber 2022 the charity was eniiiled io eXempt1n from audrt under section 477 of the Ctsmpanies 2006 relating to sm?11 companies. Directors, responybilities.. The members have n¢t reqUId the tharity to obtsin an audit of its accounts for the year in question in accordan£e wiéh settion 476., and The dirertors acnowledge the¥ responsibilits for £CrynI with the requirernents of the kr with spert ro accountin8 rec¢yds and the eparatTr of accounts. These financial Statements have been ppared in accordante with the spec11 prtr4isions relating to companies 5ubjert to the small companies wme within Part 15ofthe Crynpanles Att 2¢kn. The financial 5taternents on pa8e5 11 to 23 were aPPfCNed the trustees. and aUthOred for Issue on 20 September 2023 and wed on their behaw Éllah Wakatama Allfrey 08E Chairof Trustees The notes on p4e$ 13 to 23 form an inte8ral part ofthesefiftancial ststents. Page 12
Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2022 I Charrty Status The charlty 15 limited by 8uaraiitee, ncorwrated ift En8nd Wale5, and consequentty ths ntx hwe share capital. Each of the trustees is liable to tontribute afi amount not ex(eedin8 £1 towards the assets of the charity in the event of liquidatK)n. The address of its registered office ts.. 9 Hare & 8illet R08d 8lackheèth SE3 OR8 Th¢ piincipal place ¢f bustne¥ is.. 66 Gwt suffolk Street londo SEI OBL These financial statements were authori5ed for Is by the tntstees on 20September 2023. Z Accountlng P)re$ Summary of SI8Cant accounting policitsand kty •ttountbnRèStimates The princi1 accounting policEs okiplied in the preparation of these tinancial statements are sèt cwt below. These polic5 have been constently appliedto all thè years presented, unless othernvise stated. Statemtnt of tamplianc The financial Statements hfft been wepared in actordance wth Accountiry and RÈporbng by Charities= Statement of Rectsmmendd Pfartite applicable tts charities Pfèparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Irelansj IFRS 1021 leftective l January 20191- IChariEie5 SORP IFRS 1021 Second edition Ortober 20191, the Finantiol Rep)rting Standard applicable in the UK and Republtc of Ireland IFIIS 1021. Thryatso (Cpty wllth the C)8nS kt 2rK6 oNd Charities Act 2011. Ba&s ol preparailon AfTica 95 nets the definition of a public benefit entity under FRS 102. Assets and lialitIes illltial recognised at historical cost or transaction value unless otherwse stated in the relevant accountin8 policy notes. GolnK ron¢ern The trustees consider that there are no material uncertainiies the charity's abilrty to roThtinue as a goin8 concern naV $4nific¥rtt areas of untsrtainty that affect thecairyingvalue of assets held bythecharty. Exemption frorn preparfnl • rash Ilowsiaiwnent The charity opted to eady 4tk)pt Wletin I published on 2 Fetrwuary 2016 ènd have theiefore not induded cash flow statement in these financial 5taten*nt Pase 13
Afvica 95 Notes to the Financial Statements for the Year Ended 30 September 2022 Judgements and key swrusofe#im•ti¢n WKerta¥rtv In the applicath?n of ihe charity 5 accounting p)IKies. Ihe direaos are required to make judgements, estirnate5 and assumptions about the amtrJnt of assets Itabilities that are Th)t readi apparent fiorn other sources. The ettimates and associated assumwKJns are based on hstorical eXperiEn and other factors that are considered to be relevant. Actual results differfrom these eyimates. The estimates and underiyifig assumpuons are revieweil on ath ongoifig basis. Revisio#s to accouNtine estimates are recognised in the periods in which the estimate is wsed Whe feW0S afferts only that period. or in the period of the revisth and furure periods where the e$•DS affe¢ts both Current and future periods Inwrne and endowments All S0Me Is recognised once the charity has entitlement to the incon. tt is probable that the income will be receNed and the amount ol thè income reteivable cah be TYasuiÈd reliablv. Donations ale recognised when the charity has been notrfd in writing of both the amount and settmeTht te. lfi the event that a dofiotion 5ubjert to condttiorts that require a level of perforrnance by the charity before the charity is entitled to the lurTrds. the income is deferTed and not recognised until either those conditions are fully mei, or the fuifilment of those conditions is wholty within the tontrol of the £harityand it is probable thatthese rnnditionswill befuifilled in the rewiing period. ' GrMts re¢eknble Grants a reco8nSsed when thecharityhas afi entitlement to the funds and any eondition5 linked to the grants have been met. Where performance conditic5 are attached to the grant and are yet to be met. the ineome 15 TenISed as a liability and irKluded on the balance sheet as deterd income io released. l•bwtmentlrt¢ome Dividends are reCnised 0e the dividend has e¢e •hd rbotrfi¢ation h45 been received of the dNidend due. Expendtrturt All eypenditure is re(0gThe once iheie a al or constructive OlEatIOn to that eXpenlthtu. it is probable settlement Is required and the arnount be measured reliabty. All costs are allocated to the applicable expenditure heading that aggregate sinylar cost5 tothatcategory. Where tosts £anfiot direttly attributed to particular headings they h3ve been allocated on a ba5 consisient th ihe use of resources. vAth central staff costs allocated on the bas of tin swit. and depreciation char8es allrxaterf on the portiort of theassevs use. Othersupw)rt Costs are allcrated based on the spread of staff costs. Rvisingfvnds These a cosrs incurred in attnctirRNY)luntary incryw the manaÈerrtAt of investments and those lrKUrd In trading attlwilbes that rèise fufid Page 14
Africa 95 Notes to the Financial Statements for the Year Ended 30 Septernber 2022 ChorAtable47rt1¥ftres Charitable eXpendlure comprises those cost5 incurred by the chartty in the delery of its aCti¥ities and services lor its beneficiaries. It indudes both costs that can be allc<ated ithrectly to such attwities •nd those costs of an indirect nature necessary to 9JPFrt ihem. Supporttosts Supwrt Costs indude teniral funttions and ha been al¥te to artwiry t05t categorles on a basis C011$15tent with the use of resources. for eXarnp. allrtating woptrty Costs by fltr)r areas. or capita, staff tOSts by the time spent and otherc¢)Sts by their usage. fjoVernan ¢osts These include the costs attributable to the charfty's compfiarKe with tonstilutional and statutory requirements, including audit. 5trate£rc rnanagernent and trustees meetings and r•mbursed exkn5es. Tax•tion The charity 15 consldered to Pa5$ the te#s set out In Paragraph I hede 6 of thÈ Finante Art 2010 and therefore tt rneets the defInith of a charitable cornpany for UK corwration tax purp)ses. Ae¢orthnEly. the tharity is potentially exempt from taxation ITh respect of incoffe or capital gains receNed within cètegories 'eavered Èby Ch4JPter 3 Part 11 of Corp)ratiorb Tam Act 2010 or Sertion 256 of the Taxation of Chargeable Gains Act 1992. to the exient that SLKh irKome LY8ain5 are3ppld exclusivelyto tharitable purp¢)ses. TaNaiblt fixed amets Indiviéual fued 35sets ¢051in8 £5CQ.IxI or more are initially reCded at cost. less any subsequent accurnulated depreciation and subsequent accumukted impairment los Oepretiation and amortisation Oepociatron 1$ provided on tangible fixed assets so as io WTite off the wst or valuation. less any estimated sidual value, over their experte(l useful economic life as follw.. A55et c13SS Offte equipment Depredation method and ratè 33.3%5trat8ht line basis Ttade debtors Trade debtors are amounts due from customers for merchand5e sojd or services performed in the ordinary ttjurse of bu51r$s. Trade debtors are recognised lnr(ièl at the transaction price. They a subSeqn¢ measured at arnrtised cost using the effective interest method, less wovision for impaim)ent. A prtiwsion for impairment of trade debtors is established when there is objectwe ewdente ihat the charity will not be able to CO1(1 all amounts due accordingto the ln31 terms ot the receNables. Cash and cash equi¥atents Cash and cash eqviVartts comwse cash on hafid and eall deposrts. and other short-term hiehly liquid investmenis that are readity convertible to a known anKJunt of tash and are subject to afi insiznrficant risk of thange in value. Page 15
Africa 95
Notes to the F•nancial Statements for the Year Ended 30 September 2022
Trade <redito
Trade creditors are obligations to pay for or seryKes that have acquired In the ordinary course of
5iness from suppliers. Acctyjnis payable are cL45srfied as current liabilities rf the charity does not have an
urKonditional nght, at the end of the reporting riod. to defer settrnet of the creditor for at least twelve
months after the reporting date. Il there is aft uncondTiional right to defer settlemem for at •St e1ve
months after the reporting date. they a presented as nonKurrent Ikibilr(ies.
Trade creditors are recognised initialty at the transactw wice and Subsequent measured at arKJrtisèd tost
Ung the effective inierest method.
Forelgn ¢xthan8e
TiansartK)ns in foreign currenc$ are recorded at the rate of exthanee at the date of the traTrsart.
Monetary 4ssets and liabilitie5 d2nominated in foreign curreA¢ies at the bolance Sheet date are reported ai ihe
ratesof ex¢hange prevailing at th4t date.
The results of ovèrseas operatlons are translated at the average Trtes of exchanEe during the period and their
balance sheets at the rates rIng at the balance sheet date. Exchan8e dffterences arisin4 on translation of the
opening net assets and results of o¥erseas operations a rerrf)rted in other comprehensive incorr and
accumulaied In equity lattfibuted io non
Afrlca 95 Notes to the Financial Statements lor the Year Ended 30 September 2022 3 Inrom•frorn donatio aml lewie5 Totsl Tot•1 . General Ilestritte Donations and k¢acies- AKO Foundation 150.Q 2.4n 150.IJVJ 2.477 150.000 Appeals and don•tions Grft aid reclaimed Grants. incltsding c3pitsI grants: Oppenheir*r Mernorkil Trust Carne8fje Corporation of New York 15LX)I 25,924 11.9321 11,9321 152.477 11,9321 150,545 176.884 4 In¢ornefrom other tradItIe5 Totsl Totsl 2011 Events irKorne.' Other events income S IrNestment Income Unrertri¢i•d funds Totsl T4)tal 2021 Intere# receivab ar &mil•f income- Interest tel¥ab om bank deFoyts 128 128 21 Page 17
Africa 95 Notes to the Financial Ststernents for the Year Ended 30 September 2022 6 Exp4nthture on rai5iw¥ fvnd5 al Costs of8ewatln8 d•utSons and le8ades To¢al 1022 Totsl 2021 Publicity and artwork ioAy> 8.191 Elditure 4)n th¥itabf• artivilie5 Totsl 2022 Totsl 2021 Pri2ewlnner awards 12.¢J 12.CKIO 24.921 Event expenses Antholyte5 Casual wages Workshop expen5e5 Foreign currency Igainsllkfjses Staff costs 7.990 2.756 39.783 110,2721 42,923 3S.221 12561 20,349 4S.202 io Jpport costs 230,047 102,216 In addition to the expend¢iure anaw ab, there afe also supp)rt costs of E35.22112021 - E45.2021 whlch relate directly to charitable activitles. See note 8 for further detsil .Pa8e 18
Africa 95 Notes to the Financial Statements fiyr the Year Ended 30 September 2022 8 An•lysls of SUpportsts Support ¢osts Totsl 20 Total 2021 RecruftmeTht SS2 Computer software Rent 6,228 7.520 8f] 8.778 2.897 990 Telephone and fax Office expenses 5undries S17 1.220 80 92 Trwel and subsistence 182 9S Independent exarninètic Bookkeepifig Le1 and professional Bank charges Deprecu?tion of OfPl equiprrent 2.028 1,555 16.077 11381 1.812 2.070 26.086 322 35,221 45,202 9 Trustees remurnrntion and expenses No trustees. nor any persons connetted wfth them. have re(erd any remuneration from the charity during the year. No trustee5 have receNed any reirnbursed expenses oraAyother benefrts freffl the chariry durin8the year. Pate 19
Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2022 10 Staff c¢>sts The aggregate payrdl costs were a5 folkw5: staff costs dUrithe year we. Wages and Salaries PenSn costs 41.235 20.003 346 OtheTsraff costs 8¢JJ 42.923 20.349 The monthw average number of persons (including seni¢¥ management I leadership team) employed by the charity dudng the year expressed as full time equNalents was as fdkws.. 2021 Charitable actmties 212021- 11 of the abtye employees participated in the Defined Contribution PenSn Schemes. No ernpl0¢ receNed ertsyuments ofmore than £60.( during the year. 11 TaxatiL The charfty is a gIstered ¢harttyand is the eXeM0frTr taxat. Page 20
Africa 95 Notes to the FInala1 Statements for the Year Ended 30 September 2022 12 TO1b1•ftd assets Furnlture •nd equlprwit Totsl At l October 2021 2.590 2.590 At 30 September 2022 2,590 2,590 Depre<latlon At l Ortober 2011 Charge for the year 2.290 300 2,290 300 At 30 Septernber 2022 2,590 2.590 Net book value At 305epternt*r 2022 At 30September 2021 300 13 Oethors 2021 Prepayments Accrued inc¢ Otherdebtcrfs 1,995 1.026 27.856 1,148 4.027 &322 30.030 tredotors: anmwnts falllngduewhhln onear 20 2021 Trade creéito Other1110Th and social 5erurity Othercreditors Accruals 13,119 1,807 204 1.919 251 583 122 2.378 17.049 3.334 15 Pension and others¢htmes The charrty operntes a defined cOntribUN pension xhefft¢. The pen5KJn cost charge for the year represents contributoons payable by the char1Vt0 the stheme and arrK)unted to £88812021 - £3461. Page 21
Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2022 16 Funds Cunefit period BaLince at30 Septernber 2022 Balabxe at i October 2021 Incoml Rtsources expended Unrestrirt Generul Genernl Funds 194.607 152.60S 1186.6211 160,591 Restrirted Oppenheimer Memorial Trust Carnegie Corporation 14,452 49.057 114.4521 139.7831 11.9321 7.342 63.509 11.9321 154.2351 7.342 Totsl lund$ 258,116 150.673 1240.8561 167.933 pre$ period Balance at 30 September 2021 Balanat I O(lober 2020 tncornl resources Rewrces oxpende Unrettrt¢teii GeneMI General Funds 112.085 ISi.581 169.0591 194.607 R•strirted Oppenheirner Mernorkql Trt Carnegie cOrp)ratn Sigrid R3usin8 Tr 25.449 49,057 4.427 25.924 136.9211 14.452 49.057 14,4271 78.933 25.924 141,3481 Total fvnds 191.018 177.SOS 1110,4071 258.116 ¢t wrposesfor which the fvnd5 areto be applied are asfdlows.. Opp¢nheimer Memorial Trust. fundsto supFrf the Caine Prize, the annUalMrkShops and related att115. Cameg Corporation - fvnds for the Qine Prize and w(kshops that support African writers over SeptÈmber 2019 to Augu 2023 rK)d. &8rid Rausin8 Trust- funds to suppm deital acrivity of the eharity. Pa8e 22
Afrita 95 Notes to the FinarKial Ststements for the Year Ended 30 September 2022 17 Analysis of n•t assrts betw+ fvnds rrent period Unrestri¢ted funds GeneTrl Totsl funds èt 30 Semember 2022 Restricted lund5 Current assets 177,640 117,0491 7.342 184,982 17.049 Current liabilities Totsl net assets 1&).591 7.342 167.933 Prwous period Totslfvnds at 30 Sept¢rnber 2021 funds General funds Tan8ible fixed assets Current a55ets 300 197.641 13.3341 63.5LP3 261,150 13.3341 Curyent liabilities Total r*t assets I94.7 63.509 258,116 Page 23