Comp3ny registration number.. 02813337 Charity registration number.. 1039039 Africa 95 IA company lirnited by guarantee) Annual Report and Financial Statements for the Year Ended 30 Septernber 2025 9 Hare & Biller Road 81ackhezth SE3 ORB Africa 95 Contents Reference and Adrnin15trative Det3115 Trustees Report 2tolO Independent Examiner's Report Ilto 12 Statement ol Financiil Activities 13 Balance Sheet 14 Notes to the Financial Stotements 1Sto24 Africa 95 Reference and Administrative Details Trustees Alicia Adams Olubukola Akinyemi Ellah Wakat8m8 OBE. Hon. FRSL, (Chairl Profe5$0r Fareda Banda Nii Ayikwei Parkes SiMi50 Velempini Charity Reglstration Number 1039039 Company Registration Numbey 02813337 The charity is incorporated In EnEland and Wales. 9 Hère & Billet Road Blackheath SE3 OR8 Registered Office IndepeTrdent Examiner 9 Hare & Billet Road Blackheath SE3 ORB Solicitors.. Bate5 Wells and BraithwBitÈ 10 Queen Street Place London EC3P 3AR Bankers Natwest I Princes Street London EC2R 88P Pase I Af rica 95 Trustees Report The trustees, who are diremply with the CompBnie5 Art 2006. They are also responsible for safeguarding the 3SSÉts of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud anrj oiher Page 9 Africa 95 Trustee5 Report The trustees are responsible for the maintenance and integrity of the corporate and financial Information Included on the charitable company'5 web51te. Legislation governing the preparaiion and di55ernination of financial starement5 may differ from legislation in other jurisdiction5. Small companie5 provision statement This repori has been prepared in atcordance with the small companie5 regime under the CompaniÈs Act 2006. The annual report was approved by the trustee5 of the charity on 19 June 2026 and signed on Its behalf by.. Ellah Wak8tam3 OBE, Hon. FRSL Chair of Tru5tee5 Page 10 Africa 95 Independenl Examiner's Report to the trustees of Africa 95 {'the Company'l I report to the charity trustees Iwho are also Direciors lor the purp05È of company lawl on my examination of thÈ accounts ol the Africa 95 I'the charitable cowpany'l for the year ended 30 September 2025 which compr15e the statement ol Financial Activities. the Balance Sheet ènd relared notes. 13 24 This report is made 501ely to the ch3rity s trustee5, as a body, in accordance with section 145 01 the Charities Act 2011. My work has been undertakpn so that I might State lo Ihe charity's trustees those matters l am required to state to them in this report and lor no other purpose. To the fullest extent permitted by law, I do not accept or B55urne responsibility to anyone other than the charity and the charity's trustees as a bodyi for my work, for this report, or for the opinions I have formed. Respon5Ibilitle$ and basis of report As the charity's tru5tee5 of Afri13 95 YOU are respon51ble for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having sat151ied my5e11 that the accounts of Africa 95 arÈ not required to be 3udited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ol my examination of your charity'5 account5 a5 carried out under section 145 of the Charitie5 Act 2011 1'thÈ 2011 Act'l. carrying out mv Èxamination I have followed the Directions given by the Charity Commi55ion under section 14515llbl of the 2011 Art. An independent examination does not involve gathering all the evideD£e that would be required in 2n audit and consequently does not cover all the tnatters thai an auditor considers in giving their opinion on the financièl st3tements, The planning 2nd conduct ol an audit goes beyond the limited a55ur8nce that an Independent examination can provide, Consequently l express no opinion a5 to whether the financ￿81 statements preseni a 'lrue and fairf view and my report 15 limited to those specific rnatter5 Set out in the independent examinerfs statement. Emphasis of matter We draw your attention to the going concern policy of note 2 01 rhe financial statement>, that explain5 why the g(>ing concern basis is apprckpriate lor the preparation ol the accounts. Our opinion is not modified In respect of this fflatter. Independent examinerfs statement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examination giving me cause to believe.. l. accounting rÈcords were not kept In respert of Africa 95 a5 required by seciion 386 of the 2006 Act, or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accountinE requirements o15ection 396 of the 2006 Act other than any requirernent that the accounts give a 'true and fair view, which Is not a matter ¢onsidered as part of an independÈnt ex3mination", or 4. the account5 have not been prepared In accordance with the methods and principles of the Statement of Recommended Praitite ftrr accounting and reporting by ch3ritie5 Bpplicable to charities prepaiiris their accounts in accordance with thÈ Financial Reporting Standard applicable in the UK and Republic of Irelond IFRS 1021. Page 11 Africa 95 Independent Examiner's Report to the trustees of Africa 951'the Company'l I have no concerns and have come 3crass no other matter5 connection with the examination to which atlention should be drawn in this report in order to Ènable a proper under5t3nding of the account5 to be reached. Tim Sullivan FCA 9 Hare & Billet Road B13ckheath 5E30RB 23 June 2026 Page 12 Afrlia 95 Statement pf Finantial Activititsforthe Year Ended 305eptember 2025 {In¢ltsding Income ExpenditurÈAccouTrt hnd Stslement of Totèl Reco8nised Gain5 and L(Jssesl um¢ÈsthLtÈd Rest￿￿¢￿ 2015 RÈstilci*d 2024 Note Income Éndowmentsfrrrtn.. 89.254 I￿￿estment M make judgements, estimates and a55umptions about the carrying amount of èsseis and li3bilitiÈs that are not readily apparerit Irotn other source5. The estimates and a550ciated agSUmPtions are b3sed on historical experience and other f3Ctor5 thÈt are considered to be relevant. Actual results MB y differ from these estimate5. The estimate5 and underlying assumptions are reviewed on 3n ongoing basis. Revisions to accounting estim8tes are reco8ni5ed in the period5 in which the estimate is revised where revisions èffects only that period, or in the period ol the revision and future periods where the revisions affect5 both current and future periods. Income and endowmen15 All Income is recogni5ed oncÈ the charity has entitlement to the Income, it 15 probable that the income will be received 3nd Ihe amount of the intomÈ receivable Can be measured reliably. Donotlons ond legoctie5 Donhtions are recogn15ed when the charity ha5 been notified in vdriting of both the amount and settlÈment date In the event that ) donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds. the Income is deferred and not recogni5ed until either those condition5 are fully met, or the fulfilrnent ol those conditions is who11y within the control of the charity and it is probable that these conditions will be lullilled In Ihe reportins period. Gmnts receivGble Grants are reco8ni5ed when Ihe charity hès an eniitlement to the funds and any conditions linked to the grants have been met Where performance condition5 are at13ched to the grant and are yet to be met, the incom* is recogni5ed a5 a liability and included on the balance sheei as deferred income to be releosed. Investment Income Dividends are recpgnised once the dividend ha5 been declared and nDtific3tion hès been received ol the dividend due. Expenditure All expenditure is retognised once there is a legal or tonstructive obligation io that eKpenditure, it is probable settlement is required and the amount can be me3sured reliably. All costs are allocated to the applicable expenditure heading that aggregate Similar c05tS to rhat category. Where cost5 cannot be directly attributed to particular headings they h3ve been allocated on 3 ba51s consistent with the use ol resources, Wlth central Staff costs allocated on the basis of time spent, and depreciation ch3rge5 allocated on the portion of the asset's use. Other support Costs are allocated based on the 5pre3d of stall costs. Roi5ingfunds These are tosts incurred in attracting voluntary Incotne, the management of investments and those incurrÈd in Page 16 Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2025 Churitoble octivities Charitable expenditure compr19es those cost5 incurred by the charity in the delivery of Its activities and services lor It5 benefic13ries. It Ineludes both tosts that can be allocated directly to such activities and those costs of an indirect nature necessary ttr support them. Support costs Support costs include central functions and have been allocated to activity cost caiegories on a basis consistent with the use of resource5, for example, allocating property C05t5 by floor areas, or per capita, Staff costs by the time Spent and other costs by their usage. Govern3nce costs These Include the cost5 attributable to the charity's compliance with con5titution21 and st2tutory requirements, Including audit, strategic management and trustees meetings and reirnbursed expenses. Taxation The charity 15 considered to pass the tests set out in Paragr3ph I Schedule 6 of the Finance Act 2010 and thÈrefore it meet5 the definition ol 3 charitable company lor UK CDrporation t3x purposes. Accordinglyp the charity is PDtÈntially exempt from taxètion in respect of income or capital gains received wiihin categorieg covered by Chapter 3 Part 11 ol the Corporation Tax Act 20LO or Section 256 af thÈ Taxation of Chargeable Gaing Act 1992, 10 the extent thai such income or gains are applied exclusively to charit3ble purposes. Tangible fixed assets Individua1 fixed assets costing £5(K).00 or more are inilially recorded at cost. les5 any Subsequent 8ccurnulated depreciation and Subsequent accumulated impairment105ses. Depreciation and amortlsation Depreciation 15 provided on t3n8ible fixed assets so ès to write off the cost or valuation, less any estimated residual value. over their expetied useful economit life as follows.. As￿t cla55 Office equipment Depreciation method and rate 33.3% straight line ba515 Trade debtors Tr3de debtnr5 are omounts due from tustomers for merchandise 501d or services performed in the ordinary course of bu5ine55. Trade debtors arÈ rÈcogni5ed initially at the tr3n5action price. They are subsequently measured at amorti5ed 05t using the elleitive interest method, les5 provision for impairment. A provision for Lhe impairmEni of trade debtor5 15 established when there Is objective evidence that the charity will not be able to collect 311 arnounts due according tD the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents Compflse tash on hand and call deposit5, and other short-term highly liquid investments that Bre readily convertible to a known amount of cash and 3re subjeci to an insignificant risk ol change In value. Page 17 Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2025 Trade tredltois Trade crÈditors are obli83tions to pay for goods or 5Èrvices that have been acquired in the ordinary coursÈ of busine55 from 5uppliÈrs. Accounts PB yable are cl35511ied as turr@nt liabilities If the charity does not have 3n unconditional right, at thÈ end of the reporting period, to defer sÈttlÈment of the creditor lor at least twelve month5 after the reportin8 datÈ. If there 15 an uncondition81 right to defer settlernent for 3t least twelve months alter the reporting date, thÈy arÈ presented as non-current liabilitie5. Trade creditors are recognised initially at the transaction price and 5ub5equently measured al amortised cost using the effective Interest method. Forelgn exchange Transactions in foreign curreniie5 are recorded at thÈ rate of exchangp at the date ol the tr3nsaction. MonÈtary assets and lièbililies denominated In foreign currencies at the balance Sheet date are reportÈd at the rates ol eKchanEÈ prevailing at thai dale. The results ol oversea5 operations are translated at the average rates ol e%changÈ during the period and their b31ance sheets at the rates ruling at the ba13ritÈ sheei date. Exchange differences 3risin8 on translation of the opÈning net 35sets and results ol overseas operations are reported in other comprehensive IncomÈ and accufflulaied in equity (attributed to non-controlling inrerests as appropriatel. Other Èxchange differences are recognised in thé Staternent ol Financial Activities in thè period in whith thev arise except for-. 11 exchange difference5 on transattions entered into to hedge certain foreign currency risks Isee abovÈl,- 21 exchange differences arising on gains or 1055es on non-monetary Items which are recognised in other cornprehensive incorne,. and 31 in the case of the consolidated financial statements, exchange dillerencÈs on monetary item5 receivable from or payable to a foreign operation for which settlement is neiiher planned nor likely to occur (Lherefore forming part of ihe net investment in the foreign operation), whith are r&cogn15ed in other comprehensive income and reporled under equity. Page 18 Africa 95 Notes to the Flnancial Statements for the Year Ended 30 September 2025 3 Infome Irom donations and legacies Llnrestricted Total 2025 Totsl 2024 General Oonatitsns and legacie5,' Appeals and donations The Random House Group Ltd Bloomsbury Publishin8 Ltd Charitie5 Aid Foundation 20.839 9.000 5.000 4.525 20,839 5,000 5,000 4.525 43,663 Grants, including capital grants,. Oppenh@imer Memorial Trust Hawthornden Foundation 30.324 32.868 Is.000 30,324 32,868 15,000 25,086 27,316 SiErid Rausing frust CarnÈgie Corporation of New York Foundation Scotland The British Council 31,852 5,000 3,000 113,556 IL3.556 135,917 4 Invesiment income Unrest¥icted funds General Total 2025 Totsl 2024 Interest receivable and similar income., Interest receivable on b8nk deposlts 294 294 539 5 Expendlture on rai5in8 fund5 al Costs of generating donations and legaiies Total 2025 Totsl 2024 Publicity and artwork Other fundraising c05t5 261 511 22,505 261 23,016 Pase 19 Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2025 6 Expenditure on charilable activities Total 2025 Total 2024 Note Pri2e winner awards Event expenses Anthologies Foreign currency Ig3in5111055e5 Free13nte costs 12,000 6,747 5,935 2,125 46,165 128 50,851 3,661 11,441 39,978 Staff costs Support cr)sts Workshop èxpenses 6,703 3,000 63,928 124,806 In èddilion to the expenditure analy5ed above, thÈre are a150 5UPPOrt costs c>f £6,70312024 - £11,441) which relate directly to charitable activities. See note 7 lor further details. 7 Analysis of 5UPPOrt Costs Support Costs Total 2025 Total 2024 Rent 2,003 5.493 316 Telephone and fax Office expenses Sundries 1.394 1,714 154 Independent @xamination BookkeepinÈ Bank ch3r£es 2,496 683 127 2,400 1,119 245 6.703 11,441 8 Trustees remuneration and expenses ND trustees, nor any persons connected with them, hive received any remuneration from the charity durin8 the year. No tru5tee5 h3ve rec&ived any reimbursed expenses or any other benefits from the charity during the year. Page 20 Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2025 9 Statt costs The aggregate payroll costs were as follows.. 2024 Staff costs during the year were.. Wages and salaries Pension c05t5 3,600 61 3,661 The monthly aver3ee number of persons (including senior management / leadership leaml employed by the charity during the year expressed a5 full time equivalents was as follows-. 2025 No 2024 12024- 11 of the above employee5 participated in the Defined Contribution Pension Schemes. No employee received emoluments ol more than £60,000 during the year 10 Taxation The chèrity 15 a registered charity and is therefore exempt from taxation 11 Related party transactions There were no related party tran5action5 in the year. Page 21 Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2025 12 7angible fixed assets Furniture and equipment Total Cost At l October 2024 2.590 12,5901 2,590 12.5901 Disposa15 At 30 September 2025 DeprecSation At l October 2024 2,590 12.5901 2,590 12.5901 Eliminated on disp05als At 30 September 2025 Net book value At 30 September 2025 At 30 September 2024 13 Debtors 2025 2024 Other debtors 4,028 14 Credilors.. amounts falling due within one year 2025 2024 Trade creditors 838 795 Other t3x3tion )nd social security Accr(Jals 53 2,497 2,401 3,335 3,249 P3ge 22 Africa 95 Notes to the Financial Statements for the Year Ended 30 September 2025 15 Funds Current perlod Balance at 30 September 2025 Balance at I October 2024 Incoming resources Resources expended Tiansfers Unrestrlcted Generul General Funds 115.3011 IL3,850 164,1891 6,762 41,123 Restrlcted Workshop Fund Carnegie Corpor3tion 7.555 30,408 17,5551 792 31,200 37.963 16,7631 31,2DO Total funds 22,662 113.850 164,1891 72.323 Previous period Balante ai 30 September 2024 Balance at I October 2023 Incoming resource5 Re50urce5 expended Transfers Unrestricted Generol GÈneral Fund5 32,087 47,202 1105,8041 11,214 115,301) Reslricted Workshop Fund Opperiheimer Memorial Trusi 32,316 113,5471 111,2141 7,555 25,086 31,852 125,0861 13.3851 Carnegie Corporation 1.941 30,408 1,941 89,254 42,0181 111,214 37.963 Total funds 34.028 136,456 1147,8221 22,662 The specific purpose5 lor whith the funds are to be applied are as follows.. Oppenheimer Memorial Trust funds to support the Caine Prize, the annual workshops ènd related activities. Carnegie Corpor3tion lund5 lor the Caine Prize and workshops that 5UPPOrt African writer5. Page 23 Africa 95 Notes to the Financial Statements lor the Year Ended 30 September 2025 It Wa5 agreed thèt the unspent amount ol £19,0071$25,1101 from Hawthorden Foundation could bÈ relloacted and spent on core costs and online workshop. 16 Analysis of net assets between tund5 Current period Unrestricted funds General Total funds at 30 September 2025 Re5tritted funds Current a55ets 44.458 13,3351 31,200 75,658 13,3351 Total net asset5 41,123 31,200 72,323 Previous period Unrestricted lunds General Total funds ai 30 September 2024 Restricted fvnds Current assets 112,0521 13,2491 37,963 25,911 13.2491 Total nÈt assets 115,3011 37,963 22,662 Page 24