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Transforming Young Kenyan Lives Registered UK Charity number 1044872 koribuni.org.uk
Karibuni Children
KARIBUNI CHILDREN
Registered Charity number 1044872
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TRUSTEES REPORT AND ACCOUNTS FORTHE YEAR ENDED 31 DECEMBER 2023
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KARIBUNI CHILDREN.
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Index to the Annual Trustees’ Report / Accounts
Year ending December 2023
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| ' | Legalandadministrativedetails | 3 | |||||||
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| ObjectsoftheCharity | 3 | ||||||||
| Structure, Governance and Management | 3-4 | ||||||||
| RiskManagement | : | 4 | |||||||
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| Kenya’s Educational System | 4-5 | ||||||||
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| Karibuni Model ofSupport | 5-6 | ||||||||
| Reviewof ProjectsandSummaryoftheMain | MainActivitiesduring theYear | 6-10 | |||||||
| Financialreviewandreservespolicy | 10-11 | ||||||||
| Fundraising | 11 | ||||||||
| ‘Voluntaryhelpandgiftsinkind | . | 11 | |||||||
| Trustees’ declaration | 11 | ||||||||
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| Statement of Financial Activities | 12 | ||||||||
| StatementofFinancialActivitiesPosition | 13 | ||||||||
| AccountingPolicies | 14 | ||||||||
| Notes totheAccounts | 14-16 | ||||||||
| IndependentExaminer’sReport | : | 17 |
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Karibuni Children Registered Charity No 1044872.
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LEGAL AND ADMINISTRATIVE DETAILS
Constituted under a Trust Deed dated 30 January 1995.
The Trustees serving during the year and since the year end are:
Mr NH Roberts (Chairman)
MrJW G Cotton (Resigned 15.01.23) Mrs J Murphy
Ms P Wignall (Resigned 15.01.23) Mr M Carr (Resigned 9.11.23)
Mr. M Johnston
Rev. Nicola Martyn-Beck (Resigned 8.6.23)
Mr S Kanyatte Mr LC Dickinson Ms Charlotte Roberts (Appointed 8.6.2023) Mr. D Readman (Appointed 8.6.2023) Dr. Hellen Okello (Appointed 8.6.2023)
Mr. David Farmer
Registered office:
Stoke Mandeville Methodist Church,
“Eskdale Road, Stoke Mandeville,
Bucks. HP22 5UJ
Email: office@karibuni.org.uk Website: www.karibuni.org.uk
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OBJECTS OF THE CHARITY
As stated in the Trust deed, the objects of the Charity are to relieve children in Kenya who are in need by reason of sickness and distress, in particular children who are homeless, by providing and assisting in the provision of shelter, food and clothing, and to advance the education of such children.
In practice, most of the Kenyan projects supported by Karibuni Children are involved in education, feeding and community development. Karibuni Children acts as a partner to each project, with day-to-day management being the responsibility of local Management Committees which are generally connected to the Methodist Church in Kenya (MCK), although Karibuni Children is not itself a faith-based charity.
STRUCTURE GOVERNANCE AND MANAGEMENT
Policies and operating decisions rest with the Trustees who meet at least five times each year to plan, oversee and monitor the support provided to projects in Kenya. This is based on evidence provided by projects on pupil performance, information from our representative in Kenya and monthly Zoom meetings with project managers / social workers in Kenya.
Day to day management also resides with the Trustees, in particular the Chair who together with subgroups of Trustees and the UK Operations Manager, ensures the smooth running of the Charity.
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Karibuni Children has operational policies covering all aspects of its operation including finance, safeguarding children and vulnerable adults and volunteers, risk management, investments and currency hedging amongst others.
The Trustees have regard to guidance issued by The Charity Commission on “Public Benefit” and their guidance on “Charities Working Internationally” as well to HMRC recommendations on “Payments to Overseas Bodies”. About the latter, it should be noted that funding is released to the projects either directly or via Methodist Church in Kenya Conference Office in Nairobi, three times each year. All projects are required to subscribe to the Governance procedures of the Methodist Church in Kenya including that all disbursements must be authorised by a minimum of two signatories.
Joshua Katungu, a Kenyan national and resident who runs his own school in Nairobi is retained by the charityto offer advice and support to the projects during the year.
2021 aside, a party of Trustees has traditionally visited the projects each year at their own expense. They review the year’s activities, adequacyoffinancial support, establish future priorities and assess compliance with standards of governance including visits to several sponsored children’s guardians in their homes to ensure that they are from the very poorest backgrounds.
All Trustees, relevant volunteers, and participants in work parties at the projects are required to undergo Disclosure and Barring Service checks.
The current Trustees are shown on page 3. New candidates are considered by the existing Trustees, taking account of their skills and experience in relation to the Charity's objectives and any areas of expertise where it is felt that recruitment would be beneficial. Care is taken to fully brief new recruits through individual meetings with the Chair, with small groups of trustees and attendance at a board meeting as a volunteer prior to commitment. ;
RISK MANAGEMENT
The Trustees have throughout the year comprehensively reviewed the risks to which a small charity operating in Africa is exposed. The register is divided into five categories - Top Risks, those potentially with the highest significance and impact; General Management UK, Office Based UK, Financial, Kenya Operational. Each risk identified is accorded a weighting based on considered likelihood and severity of impact. The risk register is an agenda item at each board meeting.
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KENYA'S EDUCATION SYSTEM
The Kenyan education system has largely transitioned away from an 8-4-4 curriculum - 8 years of primary school, 4 years of secondary school and 3 (or more) years of vocational/university education.
By 2026 the Kenyan government intends to phase out the 8-4-4 curriculum and replace it with anew system (2-6-3-3) which consists of 2 years of pre-primary (for ages 4-5); 3 years of lower primary and 3 years of upper primary (for ages 6-11); and 3 years of[junior][ secondary][ as well][as][3][ years][of][ senior][ secondary][(for][ ages][12-17] years).
The new structure will follow a Competency Based Curriculum (CBC), which seeks to nurture every learner's potential by ensuring that all acquire the core competencies. The CBC emphasises formative rather than summative evaluations.
It will be mandatory for all Kenyan children to continue in education beyond primary. For those that are less academic and unlikely to thrive in secondary education, vocational training is seen as an acceptable and preferable route. .
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The changes ought to have been accompanied by a classroom building programme in secondary schools, but this has not happened. Consequently, children are in many cases remaining in their existing primary schools for Junior Secondary School. However, these primary schools lack many of the structures needed such as laboratories and domestic science facilities.
KARIBUNI MODEL OF SUPPORT
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The model continues to evolve. Currently the Karibuni model identifies children from the most challenging backgrounds through advertisement, and the contacts that project social workers (paid for by Karibuni) have with the local chief or Children’s Officers. Children who might otherwise miss education are supported into pre-primary (ages 4 to 5) and progress through primary (ages 6 to 11) usually within the state system where education is free (though there are costs for uniforms, feeding etc.). Children thereafter must now attend either secondary school, (ages 12 to 17) or undertake skills / vocational training both of which are currently fee paying. Karibuni will, depending upon availability of funds and the likelihood of a particular course leading to employment, thereafter, sponsor College or university courses.
Though the provision of education is valuable work and has led to some outstanding cases of success there are drawbacks. These include creating dependency, disempowering parents / guardians, many of whom did not complete their own education owing to their inability to contribute to children’s education together with the divisiveness within the family that can arise where siblings go unsupported and perhaps uneducated.
Increasingly we recognise that the path to improved outcomes - retention rates, keeping girls in education, transitioning from education into the world of work etc. lies with greater parental / guardian involvement. We are therefore beginning to build on the experience of Tharaka where the Demo Farm and Community Resource Centre built in partnership with the local community has enabled delivery of[training][in][agricultural][techniques,] animal husbandry, nutrition, family planning etc. The recent addition of additional artisan workshops together with a garment manufactory has provided opportunities for skills training, the possibility of employment and ultimately the ability of parents / guardians to contribute increasingly to the education of their child.
We plan to develop this approach further and run workshops during the trustee visit in early 2024 to encourage local boards to develop their own vision and look beyond Karibuni for support. We have not been able to pursue our plans at Meru but hope to launch a new initiative in Nairobi in 2025.
Some 700 children are currently being supported through their education the later stages of which are expensive, but funds permitting, Karibuni aims to support children to reach their full potential and equip them for employment. The fact that all children must now remain in education until age 17 has led to costs in Kenya rising at a significantly higher rate than Karibuni’s income in the UK. Generous legacies have enabled us to
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continue to support many disadvantaged children through their education while we take steps to narrow the gap between expenditure and income.
SUMMARY OF MAIN ACTIVITIES AND REVIEW OF PROJECTS DURING THE YEAR
Economic conditions in Kenya following the pandemic have improved with opportunities for casual labour — hairdressing, housework and clothes washing - on which many parents or guardians relied gradually re-emerging. The Presidential elections and transfer of power passed off relatively peacefully but some of the challenges such as high external debt and lack of employment opportunity are beginning to cause unrest. East Africa, having experienced its worst drought in 40 years, saw increased rainfall in 2023 which in some areas was significantly more than usual leading to severe flooding.
Food and fuel price inflation together with the move towards a competency-based curriculum coupled with the requirement that all children must now complete secondary school or skills-based training continues to adversely impact on our costs significantly.
The changes mean that the years of primary education reduce from 8 to 6 whereas the number of years in secondary school increase from 4 to 6. Currently primary education is “free” although there are the costs of feeding, uniforms, shoes, and books etc. Secondary education is not free and although each child receives a base level of government support this is significantly below the cost with the balance having to be found by parents, guardians, or charitable organisations like Karibuni Children.
A consequence of the transition from an 8-4-4 model to a 2-6-6-3 model means that in each of the years 2023 and 2024 there will be two cohorts of supported children moving from primary into secondary school
The Kenya government introduced a scheme whereby children from the poorest backgrounds could receive substantial means tested grants towards tertiary education. However, economic conditions have necessitated the reduction in the level of grants which is another contributing factor to the current civil unrest.
THE PROJECTS
MCK Kibra Tusaidie Watoto Nursery School
Kibra is the largest and worst of all the slums in Africa, where some 750,000+ people live with few basic amenities in an area of 2.5 square kilometres. Half of those aged 15 - 40 years are said to be HIV+. Many children come from extremely deprived and unstable backgrounds.
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A much-trailed compulsory encroachment on what is already a compact site went ahead in 2021 to facilitate expansion of the adjoining railway. The existing toilets were lost, and new ones had to be constructed along with other building works to make the perimeter secure.
Kenya government policy is that children should remain with their families until entering Pre Primary 1 ata state primary school with children remaining at the same school throughout primary and the three years of junior secondary education. The local board took the decision not to recruit children into nursery school in 2023. Depending on local provision the board will consider whether in future to place future intakes of children directly into the state system.
48 children are being supported at pre-primary, 138 at primary, 61 at secondary and 37 in tertiary education.In_ addition, 17 secondary school children from the Kawangware project are now administered through this project.
MCK Embakasi Academy
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This fee-paying pre-primary / primary school has been dependent on recruiting children from families of those attending a nearby police college. Changes at the police college have led to reduced enrolment, falling academic standards and failing infrastructure. The school has been closed and Johnson the social worker has worked hard to place all the children at nearby schools. No further children will be taken into sponsorship and those already embarked on their educational journey will be managed and supported by Makena and her team at Tusaidie Watoto.
15 children are being supported at pre-primary, 32 at primary, 6 at secondary school, 2 at university and 2 undertaking skills training.
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Karibuni Children Registered Charity No 1044872.
MCK Limuru Methodist Academy
Limuru is a town some 20 miles from Nairobi on the way to Nakuru. It is a tea-growing area and local people can sometimes get casual labour picking tea and in local firms.
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The school recently benefitted from a new ablutions block funded by a generous supporter, who had previously visited Limuru as a member of a work party.
No new children have not been taken into sponsorship for four years but we continue to support all those already enrolled on their educational journey through Miriam the social worker.
40 children are being supported through primary and 20 at secondary school. 11 young people are being supported through tertiary education and 1 through skills training.
MCK Wesley Empowerment Centre - Njoro
Njoro is asmall town near Nakuru. A small Methodist Church runs a school for local children borne of the need to care for children of families who had fled riots 20 years ago.
This is an excellent pre-primary school on a large plot with a good management committee and staff. Income is raised from water sold from a bore hole and from renting out small wooden houses provided through Karibuni Children some years ago. A baby care facility has recently been created to increase income.
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Karibuni Children Registered Charity No 1044872.
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MCK Meru Children and Adult Welfare Community Based Organisation
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At this project Karibuni supports up to 6 new children each year from extremely disadvantaged backgrounds who join the pre-primary at the well regarded Consolata Catholic Mission School. Children are fed at lunchtime via a Karibuni funded kitchen located in the school grounds.
Mercy, the Project Manager has registered the project, like Tharaka, as aCommunity Based Organisation and has made impressive efforts in forging links with government agencies, other NGOs, and corporates to broaden the supporter base.
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One such partnership is with Legatum to develop a model across the county over two years to return street children and those in children’s homes to their families or be otherwise cared for within communities.
Karibuni supports 12 children in pre-primary, 58 in primary, 5 in secondary, and with 3 young people undergoing skills training.
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Tharaka Women and Children’s Welfare Programme
Tharaka District is a “hardship” area towards the east of Kenya where Marimanti is the main town. Unemployment is 60% and life expectancy is 51 years. Farming is mostly subsistence.
8 children are supported at pre-primary, 67 at primary, and 13 at secondary with 3 young people being supported through tertiary education and 6 through skills training. Karibuni also funds teaching aids and materials for craft activities for 20 children in a special educational needs class at Kamatungu School. During 2020 the ground floor of a Community Resource Centre was built at a cost of £40,000 with £32,500 raised from long standing and generous supporters. The balance was raised by the community locally through donations of materials or labour.
Working with Just be a Child, a UK registered charity a library of some 10,000 books was provided to the Community Resource Centre.
Tree Aid has provided significant funding that has led to the cultivation and planting of some 10,000 trees on small plots cultivated by many of the caregivers. These individual “food forests” are a mixture of neem, mango and papaya trees.
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Ten artisan workshops have now been built around the perimeter of the site which has enabled the establishment of a school uniform manufactory as well as opportunities for those graduating from schools or college to enter employment or start their own business.
It is hoped to add a pitched roof to the Community Resource Centre to provide additional meeting space and also to facilitate the installation of solar panels to provide the certainty of power availability as well as further improving sustainability by sinking a borehole.
FINANCIAL REVIEW AND RESERVES POLICY
Income for the 12 months to 31.12.2023 was £313,606. Expenditure was £371,416 leading to a deficit of : £57,810, which was in line with budget. Our costs in Kenya have continued to increase. Some have been related to ensuring that supported children were not disadvantaged during the pandemic but also owing to the increasing cost of secondary and particularly tertiary education. Several measures have been taken to reduce costs such as the gradual withdrawal from minor projects, ceasing to recruit new children into sponsorship at Limuru and now Embakasi as well as capping support at both secondary and college / university. We expect that the loss will halve in the year to December 2024 largely owing to our ability to buy Kenya shillings forward at favourable rates. We aim to achieve break even in 2025.
Restricted donations must be dispersed in accordance with the terms under which they are donated and are not therefore available for general purposes. In some cases, there will be a timing difference between when the income is received and when it is spent, resulting in balances being held in these funds at year-end. The purpose of the various restricted funds is outlined in note 12.
Unrestricted reserves are expendable at the discretion of the Trustees in the furtherance of the charity’s objects. If part of unrestricted reserves is earmarked for a particular project it may be designated as a separate fund, but the designation has an administrative purpose only, and does not legally restrict Trustees’ discretion to apply the fund. There were no designated funds at the year end.
The Trustees have established a general reserves policy to have a level of comfort in the charity’s ability to provide continuity of activities in the event of material fluctuations in income. The Trustees are also mindful that in recruiting a child into our support at Pre-primary (2 years), Karibuni takes on the responsibility to support that child as s/he progresses through Lower and Upper Primary (6 years) and thence into Lower
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Secondary and Senior School (6 years) or through skills training. Additionally, depending on the charity's overall finances, the Trustees award scholarships for those who secure offers of Tertiary courses. Although these are fully discretionary, to date Karibuni has been able to meet all scholarship requests.
The Trustees believe that it is important to provide projects with certainty of funding for a whole academic year and have accordingly identified the necessity to hold £280,000 as a general reserve to cover 12 month’s costs in Kenya and the support office in the UK. .
Currently reserves exceed this figure. However, with the consequences of increasing the number of children taken into sponsorship in 2013 who are now entering the expensive stage of their education as well as the impact of changes to the educational mentioned inthe Summary of Main Activities and Review of Projects above, it is likely that we will need to dip into reserves in future years to meet the cost of two cohorts of supported children moving Into secondary school in each of the next two years because of the transition toa competency-based curriculum.
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Reserves over and above the reserve policy result from a large legacy (£300,000), received in 2016, which is enabling the Trustees to support manageable operating deficits so that all children enrolled in our projects can be supported through their education whilst either income is increased, or costs reduced through curtailing support to minor projects and making adjustments to the number of such children who are supported each year as well as capping the support given to children and young people in the more expensive secondary and tertiary stages of their education.
FUNDRAISING
Every opportunity is taken to raise funds through the sale of merchandise, making presentations about our work or otherwise directly engaging with church or community groups that have long supported our work. Raising money from grant making trusts was more competitive as many Sawa large increase in applications made to them and some prioritise applications from charities delivering interventions in the UK. Overall, our income increased in the preceding year which is entirely due to the generosity of our donors who continued to support us and who again responded magnificently to our Christmas Appeal.
VOLUNTARY HELP AND GIFTS IN KIND
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We would like to thank all our dedicated volunteers for their work this year. Volunteers have continued to help with administration, social media and website and online sales of merchandise.
Approved by the Trustees on 8th August 2024 and signed on their behalf by:
Name: Nigel Roberts
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Position: Chair of Trustees
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KARIBUNI CHILDREN
STATEMENT OF FINANCIAL ACTIVITIES - FOR THE YEAR ENDED 31 DECEMBER 2023
| Note | Unrestricted | Unrestricted | Restricted | Total | As Restated | ||||||
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| funds | funds | funds | 2022 | ||||||||
| £ | £ | £ | £ | ||||||||
| Incoming resources | : | ||||||||||
| Incoming resources from generated funds | |||||||||||
| Voluntary income | 1 | 254,003 | 24,582 | 278,585 | 262,192 | ||||||
| Activities for generating funds | 2 | 33,495 | 33,495 | 8,747 | |||||||
| Investment income | 1,526 | 1,526 | 2,735 | ||||||||
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| 289,024 | 24,582 | 313,606 | 273,674 | ||||||||
| Resources expended | ; | : | |||||||||
| Grants to projects | 3 | 269,040 | 25,802 | 294,842 | ‘ | 206,421 | |||||
| Raising funds | 4 | : | 15,088 | 15,088 | 18,457 | ||||||
| Office expenditure | 5 | 61,486 | 61,486 | 45,966 | |||||||
| 345,614 | 25,802 | 371,416 | 270,844 | ||||||||
| Net surplus / expenditure before investment | losses | (56,590) | (1,220) | (57,810) | 2,830 | ||||||
| Revaluation ofinvestments Revaluation ofcurrency forward contracts at |
: | 14&15 | 8,021 (7,658) |
8,021 (7,658) |
(26,081) (6,503) |
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| fair value | |||||||||||
| $$. | ——— | ||||||||||
| Netsurplus /(deficit forthe year | (56,227) | (1,220) | (57,447) | (29,754) | |||||||
| Fund balances brought forward | 422,662 | 10,220 | 432,882 | 456,133 | |||||||
| Fundbalancescarriedforward | 366,435 | 9,000 | 375,435 | 426,379 |
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Karibuni Children Registered Charity No. 1044872
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BALANCE SHEET AT 31 DECEMBER 2023
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| As Restated | |||||||||||
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| Note | Unrestricted | Resticted | Total | Total | |||||||
| funds | funds | funds | funds | ||||||||
| 2022 | |||||||||||
| £ | £ | £ | £ | ||||||||
| Fixed assets | |||||||||||
| _ | ' | ||||||||||
| Tangible assets | 8 | - | - | ||||||||
| Investments | 9 | 103,438 | 103,438 | 244,070 | |||||||
| 103,438 | - | 103,438 | 244,070 | ||||||||
| Current assets | - | ||||||||||
| Stock | 2,360 | . | 2,360 | 3,486 | |||||||
| Debtors | 10 | 68,137 | 68,137 | 24,172 | |||||||
| Cash at bank and in hand | 13 | 203,786 | 9,000. | 212,786 | 162,506 | ||||||
| 274,283 | 9,000 | 283,283 | 190,164 | ||||||||
| Liabilities | |||||||||||
| Creditors: amounts falling due within one year | 1 | . | 3,628 | 3,628 | 1,352 | ||||||
| Net current assets | 270,655 | 9,000 | 279,655 | 188,812 | |||||||
| Provisions | 14 | ||||||||||
| Forward exchange contract liabilties | (14,161) | (14,161) | (6,503) | ||||||||
| Net assets | 359,932 | 9,000 | — | 368,932 | — | 426,379 | |||||
| Funds ofthe charity: | |||||||||||
| Restricted funds | 12 | 9,000 | 9,000 | 10,220 | ‘ | ||||||
| Unestricted funds | 366,435 | 366,435 | 416,159 | ||||||||
| Totalcharityfunds | 366,435 | 9,000 | 375,435 | 426,379 |
The notes on pages 14 to 16 form part of these accounts’
Approved by the trustees on 8th August 2024 —_ and signed on their behalf by:
Name: Nigel Roberts
Position: Chair of Trustees
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Karibuni Children Registered Charity No. 1044872
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KARIBUNI CHILDREN YEAR ENDED 31 DECEMBER 2023
Accounting policies
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a) The accounts have been prepared on the historic cost convention and in compliance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS-102), and the Charities Act 2011. b) Income is recognised when the charity becomes entitled to the resources and the monetary value can be measured with sufficient reliability Cc) Gift aid reclaimable on donations to the charity is included with the amount received, where known
d) Other expenditure is included in the accounts on an accruals basis. irrecoverable VAT is charged to the SOFA as incurred e) Depreciation on office equipment, including computers, is charged ona straight line basis over 3 - 5 years f SomeCarvingscarvingsand textilesremainarein stockboughtandfromareKenya valuedto atsell£0.inTextilesorder toareraisevaluedfunds.at cost. ; Stock also includes notelets purchased for resale to raise funds g) The. value of donated goods has been estimated and included in the figure for voluntary income : . ; h) Grants to projects are included when the amount is released to the Methodist Church Kenya bank account and distributed to projects
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Taxation
Karibuni Children is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
Notes to the accounts
Income
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1 Voluntary income includes supporter donations and sponsorship with gift aid tax attributable, grants, donations from private trust funds and legacies received Grants and Trusts £10,250 (2022 £21,620) Legacies £26,000 (2022 £27,888)
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2 Activities for generating funds includes income from sales of merchandise and cards and receipts from organised events.
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Notes to the accounts
Expenditure
3 Grants to projects
Some grants are paid to The Methodist Church in Kenya (MCK) for distribution amongst the projects and individuals in line with the agreed budgets although the majority of grants are paid directly to partner projects. Grants include support costs and expenses for Karibuni's Kenyan representative (2023 £4,023 2022 £2,114 ) Funds distributed via MCK are held in a separate internal account by MCK pending distribution to the projects. This is reconciled regularly with the mirror account maintained by Karibuni Children's Trustee responsible for organising the payment of grants. Funds are remitted to the Methodist Church in Kenya in Kenya shillings through foreign exchange dealers, Convera. The majority of remittances are covered by forward exchange contracts.
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4 Raising funds .
Includes cost of merchandise and cards; costs of staging events and attending events including sponsored events and online costs of giving. The costs of an employee involved solely in obtaining grants is included; also costs of freelance photographer taking photos in Kenya for the website and publications
| 5 | Other expenditure | 2023 | 2022 | ||
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| Office costs | £ | £ | |||
| Employee costs | 45,184 | 31,779 | |||
| Stationery, postage and printing | 2,764 | 1,257 | |||
| Telephone and internet | : | 972 | 669 | ||
| Database costs | : | 2,754 | 3,664 | ||
| Rent ofoffice and storage | 3,672 | 3,588 | |||
| insurances and data protection | 1,078 | 1,052 | |||
| Website costs | 120 | 144 | |||
| Fee for independent examination | 1,440 | 1,020 | |||
| Payroll fees | 1,257 | - | |||
| Training | 705 | 634 | |||
| Recruitment costs | 598 | 1,567 | |||
| Laptop for operations manager | 500 | 580 | |||
| Sundry costs | 442 | 42 | |||
| 61,486 | 45,966 |
Six trustees visited Kenya in June 2023 to review and assess the projects being supported by the charity; they paid their own travel and accomodation costs The newly recruited UK Operations Manager visited Kenya with the Trustees. Her costs were paid by the Charity. (included under raising funds)
6 Trustees remuneration and expenses
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No Trustees received any remuneration as Trustees during the year. Reimbursement of other expenses is included under the appropriate headings above. The aggregate amount of unconditional donations made by Trustees in 2023 amounted to £15,147 (plus attributable gift aid tax). Includes £0 restricted
7 Employment costs A full time UK Operations Manager was recruited in June 2022. A part time office manager was recruited in September 2022
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Notes to the accounts
9 Investments At 31 December 2022 £37,146 was invested in M&G Charifund. At 31 December 2023 the value was £38,494.
At 31 December 2022 £206,924 was invested with Quilter, £150,000 of this was withdrawn during the year. At 31 December 2023 the value was £64,944.
The movement in fair value is recognised in the income statement.
| 10 | Debtors | 2023 | 2022 | |
|---|---|---|---|---|
| £ | £ | 5 | ||
| Accrued income - gift aid tax | 15,940 | 7,727 | ||
| Transferred project funds Kenya | 16,762 | 5,519 | ||
| Prepaid expenses | 41,012 | 4,576 | ||
| Income banked afteryearend | 17,423 | 6,350 | ||
| Convera security deposit | 17,000 | |||
| 68,137 | 24,172 |
This includes £16,762 held in Kenya Shillings with the Karibuni bank account with the Methodist Church in Kenya, remitted in Decemberfor distribution to projects in January 2024, The exchange rate used is the rate at which the currency was purchased.
The gift aid tax has been claimed and repaid by HMRC in 2024.
11 Creditors 2023 2022 £ £ Accruals and deferred income 3,628 1,352 12 Restricted fund A scheme started in 2015 relates to the sponsorship of specific students in higher education and vocational training. Payments are made to individual students through the projects to which they are related. Donations received for this purpose are regarded as restricted. Where the sponsor has provided funds in advance for the entire period of education the balance is held to be charged to each years accounts During 2023 other funds were received from individuals towards specific : . projects supported by the Charity, and regarded as restricted to those projects. Most of the funds were remitted to the projects during the year, with balances . carried into future years as appropriate 13 Cash at bank and in hand Cash at bank includes £95,966 held in Kenya Shillings (KES16,294,846). These funds are held to provide regular grant funding in Kenya, and funds were remitted to recipients in Kenya : during the first quarter of 2024
14 Provisions The charity’s annual grant funding is provided to recipients in Kenya, with grants provided in Kenyan Shillings. To hedge against the risk of exchange rate fluctuations the charity has taken out forward exchange contracts to the value of anticipated grant funding over the next 12 months. As at the year end these forward contracts are valued at fair value. At the year end there was a loss on revaluation of £14,161 (2022: £6,503) 15 Prior year adjustments ; During the year an accounting error was identified is relation to the year end 31 December 2022 which resulted in the overstatement of the valuation of investments and voluntary income. A prior year adjustments has been recognised to reduce the investments and voluntary income for that year by £8,000. In addition, an accounting error was identified in relation to provisions for forward exchange contract liabilities that had not been recognised at 31 December 2022. A ‘ prior year adjustment has been made to recognisea provision for forward exchange contract liabilities of £6,503. As a result of these adjustments the total charity funds as at 31 December has been reduced by £14,503. . Karabuni Children page 16 Registered Charity No 1044872
KARIBUNI CHILDREN
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF KARIBUNI CHILDREN
FOR THE YEAR ENDED 31 DECEMBER 2023
| report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 12 to 16.
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Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the charity's accounts carried out under section 145 of the Act . and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content _ of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination
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| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
"Mr Tim Fulker BSc(Econ)FCA
Seymour Taylor Limited 40 Oxford Road High Wycombe Buckinghamshire HP11 2EE
Date: @! Octopee 2024
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