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2023-12-31-accounts

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TRADE

UNAUDITED TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

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YEAR ENDED

3187 DECEMBER 2023

11 Glasshouse Studios Fryern Court Road Burgate Fordingbridge Hants SP6 10X

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Contents

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||||| |---|---|---|---| |Page| |Contents|1| |Trustees’|Annual|Report|2-6| |Independent|Examiner’s|Report|7| |Statement of|Financial|Activities|8| |Balance Sheet|9| |Notes to the|Financial Statements|10-16|

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TRADE AID

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Trustees’ Report for the year to 31 December 2023 Reference and Administrative Details Trade Aid is a UK registered charity (number 1059925) whose principal address was: 11 Glasshouse Studios, Fryern Court Road Fordingbridge Hampshire . SP6 1QX The Trustees during the year were: Jane Langford (Chairman) Brian G Currie Matthew Maddocks David Edmonds Tim Jordan-Dench

Structure Governance and Management

Trade Aid is an educational charity focusing on vocational education for sustainable employment, and associated projects. Trade Aid is a not-for-profit organisation and relies entirely upon private donations. All monies accrued, whether in Tanzania or in the UK are reinvested in the charity to support its projects in Mikindani, Tanzania.

Trade Aid is governed by a Trust Deed with a board of incorporated Trustees that meet approximately quarterly. Trustees are recruited by the Board of Trustees through an election process with the Chair having the deciding vote. No.single Trustee or external body is entitled to appoint Trustees.

Tim Jordan-Dench resigned as a Trustee in March 2023 but continues to assist and head up the Museum Group. Jane Langford replaced Brian Currie as Chair of Trustees in June 2023.

| ! For the first half of the year, the project was managed in the UK by Helen : Howell (UK Project Manager) who worked 20 hours per week. Helen | resigned from Trade Aid and feft the charity on 31 July 2023. Pam Field | continues to work remotely from home as Charity Administrator 7.5 hours per week, co-ordinating the charity’s activities in the UK. She works closely with the Project Manager TZ, Emmanuel Mwambe, and with the Trustees of both : Trade Aid UK and Trade Aid Tanzania. Since Helen Howell's resignation, Jane Langford has taken a more active role in the management of Trade Aid , UK and liaison with Trade Aid Tanzania. Trustee visits - David Edmonds and Brian Currie visited the Trade Aid Aid projects : in Mikindani in April 2023 2023 and June 2023 2023 respectively. Two new Tanzanian new Tanzanian Tanzanian Trustees were were appointed during 2023 - Denis Massoi and Magreth Mwambe. They join Kate Kamba, Doctor Daniel Daniel Ndagala and Brian Currie on the Board of Trade Trade Aid Tanzania. |

Trustee visits - David Edmonds and Brian Currie visited the Trade Aid Aid projects in Mikindani in April 2023 2023 and June 2023 2023 respectively. Two new Tanzanian new Tanzanian Tanzanian Trustees were were appointed during 2023 - Denis Massoi and Magreth Mwambe. They join Kate Kamba, Doctor Daniel Daniel Ndagala and Brian Currie on the Board of Trade Trade Aid Tanzania.

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As last year, this report gives due regard to the passing of friends and associates whose expertise helped to make the original project possible, including, in June this year, Babu Sajani.

The responsibilities of the Project Manager UK include the day-to-day management of all aspects of project delivery as well as most support tasks, including (but not limited to) HR, marketing, fundraising and governance. Since Helen Howell’s departure, these duties have been fulfilled jointly by Jane Langford and Pam Field. It is hoped that over time most, if not all, of these responsibilities will be transferred to the Project Manager Tz.

Pam Field continues to perform her duties as Charity Administrator including management of Trade Aid UK accounts, general charity administration, the upkeep and maintenance of the Trade Aid websites, co-ordination of marketing activities, including social media activity, as well as maintaining the Friends of Mikindani database and the design, set up and distribution of periodic newsletters. It is hoped that in the future the responsibility for these marketing activities can be shared with staff members in Mikindani.

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Emmanuel Mwambe (Tanzanian Project Manager) leads a team of 24 staff in Mikindani and manages the operation of Trade Aid Tanzania and the Old Boma Hotel (the venue for the Trade Aid hospitality training). In the absence of a Finance Manager (Donna Wright retired in March 2023) he has assumed overall responsibility for the management of the Trade Aid Tanzania and Old Boma accounts. Donna Wright continues her involvement with the charity, working on an as-needed consultancy basis, mentoring office staff and assisting them with any complicated financial issues that may arise.

Hospitality Training Consultant (Rhoda Kitila) visits the Old Boma Hotel every two months, and also works remotely from her home in Dar-es-Salaam to support the project in all educational matters. Rhoda Kitila has now taken over the role of HR administration, assisting with recruitment, staff training and performance monitoring. Each member of staff has been set up with their own Office 365 email address to facilitate staff training and HR confidentiality compliance. The Middle Management structure in Tanzania comprising four roles (Hotel Manager, Hospitality Training Manager, English & IT Trainer and iT support) ensures that education remains the key objective. An online UK based training stream continues to provide English speaking courses to staff members in subjects such as First Aid, Food Hygiene, IT, Bookkeeping and Hotel Management Skills.

Achievements and Performance

During 2023, two groups of 20 trainees completed their training in Hospitality and English on schedule. This year’s graduates have secured jobs throughout | Tanzania. Trade Aid are instrumental in securing jobs for the trainees and monitoring their progress throughout their careers. | The Afya Spa, housed in the newly renovated Bank House, offers a range of |

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beauty, massage and spa treatments to guests. Bank House ground floor rooms have been let out to a local business.

The Tree Nursery continues to thrive and helps to teach local children the importance of environmental issues. Recent improvements are thanks to a generous donation by a private donor from Germany, who has also donated towards the maintenance and improvement of the Old Boma, as well as the development of the vocational training programme.

The community English class has been providing essential language skills to the adults of Mikindani, Plans for restructuring these classes is in hand to ensure they reach the correct sections of the community and deliver the relevant training.

The Child Equality Programme operated throughout 2023, but owing to the "limited amount of contributions from sponsors, we were unable to increase the number of children supported, although a number of children have been funded to continue onto High School for 2 years.

As part of the continuing process of transferring more responsibility both administrative and financial to the management of Trade Aid Tanzania, the administration and funding of the FESS (Further Education Student Support) Programme has now been transferred to Trade Aid Tanzania, as has the administration of the SPF (Small Project Fund).

The conservation work through the Mikindani Museum (‘Makumbusho’) progressed in 2023 with two visits by Robert Williams. Trade Aid benefits enormously from his generous donation of time, expertise and fund raising efforts. He, together with a small team of volunteers (led by Tim Dench) in the UK, ensures that the Museum is constantly expanding and attracting interest. A full time Museum Manager, recruited during 2023, is working to further expand the facilities and attract more local and world-wide visitors.. A video documentary focusing on the Museum and the origins, culture and history of Mikindani has been filmed and will be published in early 2024. It is hoped that this will further raise awareness of the Museum. Trade Aid continues to fund the upkeep of Livingstone House, which houses the Museum, as well as financing the staffing requirements.

During 2023 a borehole was sunk and water storage tank installed in the grounds of the Old Boma to provide the hotel with a supplementary water supply. It also supplies free water via a pump to the pupils of Mnaida Primary School and via fountain to the villagers of Mikindani.

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Towards the end of 2023, there was a noticeable downturn in the number of international guests at the Old Boma. The continuation of tension along the Tanzanian/Mozambique border and threats of terrorist activity throughout southern Tanzania led to foreign governments issuing advice against all but essential travel to the region. It is hoped that this situation will ease during 2024 and that international guest numbers will increase.

Objectives and Activities

Education for employment will remain the main objective for 2024.

Expanding our internal training provision for staff will continue so that all knowledge gained can be passed through to trainees and wider family members.

In 2024 Trade Aid hopes to continue to build on the growth of the relationships it has already made (nationally and internationally), spreading awareness of the valuable work that Trade Aid does. This will be done through continuing to establish new partnerships with educational establishments worldwide, and building on a database of past guests and trainees, as well as organisations that are willing and able to support it.

Trade Aid will continue to seek out grants for the continuation of the museum’s expansion. It will continue to seek funding from interested parties and it is hoped to create ‘twinning’ arrangements with other museums throughout the world.

? Trade Aid will continueto work with the local government agencies to support : the new by-laws created in 2021.

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2023 saw the start of a new annual Mikindani Day celebration, which will be set every year during the month of June. It will be independent of any other government celebrations held at other times during the year. It will be planned and led by the Trade Aid Tanzania Trustees and Management Team in conjunction with local council members.

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/ TradecommunitiesAid continueson the benefitsto be dedicatedof conservingin effortshistoricto communicatebuildings andwiththelocaleconomic 7 benefits of sustainable tourism. This is done through participatory : conservation efforts. Trade Aid will continue to seek funding for the protection | of historic buildings in Mikindani throughout 2024 so that these efforts can continue, and the historic buildings remain both an educational and economic ; asset to the community.

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:. | TRADE AID . | Trade Aid intends to increase its environmental projects, and its commitment i to combating climate change. We aim to do this by assessing our reliance on | generators, fossil fuels and use of vehicles. Trade Aid also hopes to support small community based environmental projects in Mikindani. We will continue to transfer more responsibility, both administrative and : financial, to the local management of Trade Aid Tanzania.

Financial Review

It is the charity’s policy to retain only sufficient reserves to safeguard the continuity of its overseas operations, thereby committing the maximum possible resources to its current programmes. At the close of 2023, Trade Aid held £97 ,928.70 in reserve which is allocated to Trustee-approved projects. In addition Trade Aid held £7,821.20 in its current account. }

In 2023, the principal source of project funding continued to come from the Larasian Group, which also funded all administrative costs, including employee salaries.

Funds Held as Custodian on behalf of Others

None

Declaration and Public benefit Statement

The Trustees believe that they have complied with their duty to have due regard to the guidance of public benefit published by the Commission in exercising their powers and duties.

The Trustees declare that they have approved the above Trustees’ report.

Signed on behalf of the Charity’s Trustees

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Jane Langford

Chair of Trustees

Dated 8 May 2024

Charity Number 1059925

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TRADE AID

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Independent Examiner’s report to the trustees of Trade Aid

I report to the trustees on my examination of the accounts Trade Aid (The Trust) for the year ended 31 December 2023, which are set out on pages 2 to 15.

Responsibilities and basis of report oo As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

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

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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I 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.

Signed: ate, AAO,

James Fletcher Fletcher & Partners Chartered Accountants Crown Chambers Bridge Street Salisbury SP1 2LZ

Date: SS Mee 089.

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Statement of Financial Activities

Year to 31 December 2023

Note Unrestricted Restricted 2023 2022 Total
Funds Funds Total Funds
Funds
Income from:
Donations and Legacies 2 207,487 25,722 233,209 157,608
Investments - - 54
Total income 207,487 25,722 233,209 157,662
Expenditure on:
Charitable activities 3 130,743 24,278 155,021 147,380
Total Expenditure 130,743 24,278 155,021 147,380
Net (expenditure)/income
Netmovementinfunds		 76,744
76,744.		 1,444
1,444		 78,188
78,188		 10,282
10,282
Reconciliation of funds:
Total funds brought
forward 17,272 9,149 26,421 16,139
Total funds carried
forward 94,016 10,593 104,609 26,421

The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.

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Balance Sheet

As at 31 December 2023

2023 Total 2022 Total
Note funds funds
Fixed Assets
Tangible fixed assets 8 0 i)
Current Assets
Cash at Bank and in
hand 105,809 28,021
105,809 28,021
Liabilities
Creditors - amounts
falling due within one
year 9 1,200 1,600
Net Current Assets 1,200 26,421
Total NetAssets 104,609 26,421
The funds of the
charity
Unrestricted funds 94,016 17,272
Restricted income funds 10 10,593 9,149
TotalFunds 104,609 26,421

These financial statements were approved by the board of Trustees on the LK m/ .204, and signed on its behalf:

Jane Langford Chairman

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David Edmonds
Trustee
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| The following accounting policies have been applied consistently in dealing with ; items which are considered material in relation to the financial statements:

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Notes to the Financial Statements for the year ended 31** December 2023

Accounting Policies

1. Basis of Preparation

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The financial statements have been prepared under the historical cost convention and in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom accountancy standards and applicable regulations), the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS 102) and the Charities Act 2011.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

There are no significant judgements that affect items in the accounts.

There were no significant assumptions made about the future and no other significant sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Income

Recognition of income

Income is included within the Statement of Financial Activities (SoFA) when:-

Grants, donations and gifts

Grants donations and gifts are included in the SoFA when the Charity has unconditional entitlement to the resources.

Volunteer heip

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The value of any voluntary help received is not included in the SoFA but is described in the Trustees Report.

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Interest income

This is included in the accounts when received.

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Notes to the Financial Statements for the year ended 315t December 2023 Accounting Policies (continued)

Expenditure and Liabilities

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation — committing the charity to the expenditure.

Governance costs

These include costs of the preparation and examination of statutory accounts, the cost of Trustee meetings and supervisory visits to Tanzania and costs of any legal advice to Trustees on governance or constitutional matters.

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Grants payable

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These are only recognised in the accounts when a commitment has been made and there are no conditions to be met in relation to the grant.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating staff costs by time spent and other costs by their usage.

Pensions

Contributions are made to a defined contribution scheme and are charged to the accounts as incurred.

Taxation

No charge to current or deferred taxation arises as the charity’s activities are exempt from UK taxation.

Foreign Currency

Transactions in foreign currencies are recorded in sterling at the rate ruling on the date of the transaction.

Fund Accounting

Restricted funds

Restricted funds represent grants and donations received which can only be used for particular purposes specified by the donors. Such purposes are within the overall aims of the charity. A general transfer of 30% of such funds may be made to unrestricted funds to cover the cost of unallocated general as well as support activities, e.g. the cost of sending UK personnel to Tanzania is not individually allocated although such personnel work on activities funded from both restricted and unrestricted sources.

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Notes to the Financial Statements for the year ended 31* December 2023 Accounting Policies (continued) Unrestricted funds =

Unrestricted funds comprise General funds.

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General funds represent amounts, which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.

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Designated funds represent amounts that the Trustees may, at their discretion, set aside for specific purposes that would otherwise form part of the general reserves of the charity. Specifically Trade Aid sets aside funds so that it can protect its ongoing programme of work from unexpected variations in income.

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Assets

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Cash at bank and in hand includes cash on deposit at the bank.

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Notes to the Financial Statements for the year ended 31*t December 2023

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2. Analysis of donations and legacies

Note Unrestricted Restricted 2023 Total 2022 Total
funds Funds Funds Funds
Donations and legacies :
Corporate Donations 207,487 - 207,487 147,295
Trust donations - - - -
Other donations - 25,722 25,722 10,313
Total donations and
legacies 207,487 25,722 233,209 157,608
3. Expenditure on charitable activities .
Note Unrestricted
funds		 Restricted
Funds		 2023 Total
Funds		 2022Total
Funds
Cosison behalfofTradeAid
Tanzania 2,684 - 2,684 600
Grants toTradeAid Tanzania 100,859 24,278 125,137 118,046
Salaries and staffexpenses 13,842 - 13,842 15,565
Travel and staffcosts 1,482 ~ 1,482 2,054
Support costs 4 9,333 - 9,333 9,916
Governance costs 5 2,543 - 2,543 1,199
Total Expenditure on
charitable activities 130,743 24,278 155,021 147,380
4. Analysis ofsupport costs.
Supportcosts 2023 2022
Payroll costs 5,322 6,435
insurance 338 327
Office running costs 3,673 3,154
Total supportcosts , 9,333 9,916
All such expenditure relates to unrestricted funds
5. Analysis ofGovernance Costs
Governance costs . 2023 2022
Legal Fees
TrusteeexpensesUK
Accountants fees
Trustee expensesTZ		 -
395
1,200
948		 119
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1,080
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Totalgovernancecosts 2,543 1,199

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Notes to the Financial Statements for the year ended 31°' December 2023

6. Fees for examination of the Accounts

2023 2022
Independent examiner's fee 1,200 1,080
7. Analysis ofStaffcosts
StaffCosts 2023 2022
Included within support costs:
GrossWages -UK staff 5,322 6,435
StaffTraining - -
Pension costs - -
Employers N Contributions -
Total within supportcosts 5,322 6,435
GrossWages -TZ staff (split between
Charitable activities and grants to
Trade Aid Tanzania) 13,842 15,565
19,164 _—-22,000
Average numberoffull timeemployees:
Administration
Charitableactivities		 1
1		 1
4-2

The charity recruits and employs volunteers in the UK, who are then posted to Tanzania. Their employment and[transport][costs][are][recorded][as][Grant][funding][of][ charitable][activities.] In 2023 no UK volunteers worked for this charity. All volunteers who assisted us in 2022 were Tanzanians working in our sister charity Trade Aid Tanzania.

No employees received employee benefits (excluding employer pension contribution nor employer national insurance contribution) of more than £60,000 in either 2023 or 2022.

8. Creditors

Creditors: amounts falling due within
oneyear		 2023 2022
Accountancy Accrual 1,200 1,080
PAYE Creditor - 520
1,200 1,600

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Notes to the Financial Statements for the year ended 31% December 2023

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9. Movement on Funds
Fund
balances as
Fund balances
as at 1
January 2023		 Income Expenditure at31
December
2023
Unrestricted funds
General Funds 17,272 207,487 128,424 96,335
Restricted funds
GEP/CEP 4,354 3,885 3,765 1,474
TATZ- Fund - 4,000 1,800 2,200
Mikindani Museum 807 1,738 1,363 1,182
BankHouse 4,978 ~, - 4,978
Small Projects Fund 93 2,000 2,093 -
Brian Curry 629 12,215 12,772 72
FESS 601 1,884 2,485 -
Community Fund - - - -
Training 687 - - 687
Capital Projects - - ~ -
9,149 25,722 24,278 10,593
Total Funds 26,421 233,209 152,702 106,928
10. Movement on funds— Previous year
Fund
balances as
Fund balances at 31
as at 1 December
January 2022 income Expenditure 2022
Unrestricted funds
General Funds 1,618 147,349 131,695 17,272
Restrictedfunds
GEP/CEP 2,235 4,292 2,173 1,354
Mikindani Museum 3,882 1,475 4,550 807
Bank House 4,970 8 ~ 4,978
Small Projects Fund
Brian Curry		 1,095
125		 905
2,786		 1,907
2,282		 93
630
FESS 1,331 3,128 3,858 601
Community Fund 196 719 915 -
Training 687 - ~ 687
Capital Projects - ~ - -
14,521 10,313 15,685 9149
TotalFunds 16,139 157,662 147,380 26,421

All funds are held within current assets - ( 2022- All within current assets )

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Restricted Funds

TATZ - acontingency reserve for Trade Aid Tanzania.

Bees - Funds donated to support a group of local beekeepers in Mikindani. They keep stingless bees and sell their produce, including honey, wax etc.

SPF - Small Projects Fund. Funds donated each year by Larasian (£2,000) for use by the Project Manager TZ to help local people at his discretion, for their special/emergency needs, including health, property repairs, special education.

CEP - Child Education Project. Funds donated by private sponsors to support local Mikindani children through primary and secondary education.

Community - A fund into which donations for various other personal projects are deposited. For example, in 2016 the then UK Project Manager, Alex Cole, sponsored the Mikindani Football Team and supported a local Mikindani man in ill heaith. | contributed in 2017BomatoHotel. the cost of a prosthetic leg for Nasra Mohammed,, employed as receptionist at the Old FESS - Further Education Student Support. Funds reserved to sponsor young adults through Further and Higher Education. Donations used to come in from private donors in the UK. This is now funded in Tanzania from part of the donation from Mr & Mrs Herting. No further funds will be raised in the UK for this project.

Museum - Funds reserved for the improvement of the Mikindani Museum, including display materials, exhibits and more recently the Mikindani Museum Film.

Mitengo - Funds donated for a project to build a craft college at Mitengo. Plans for this have been postponed indefinitely.

Bank House - Funds that were originally donated by Larasian/Brian Currie for the restoration of Bank House - now completed.

Training - Fund for special training for TATZ staff, in addition to their “normal training at the Old Boma Hotel in Hospitality skills, English and IT.

Twins/BCG[[-]][[fund]][[into][ which]][[ which]][[personal]][[donations]][[from]][[Brian]][[Currie][ are]][[ are]][[paid]][[for][ various]][[ various]] personal projects in Mikindani. He sponsors, amongst others, others, school fees for "the Twins’, fees for "the Twins’, for "the Twins’, "the Twins’, Twins’, Fatuma's shop, shop, Dr Ndagala’s Bukoba Ndagala’s Bukoba Bukoba Museum.

| Twins/BCG[[-]][[fund]][[into][ which]][[ which]][[personal]][[donations]][[from]][[Brian]][[Currie][ are]][[ are]][[paid]][[for][ various]][[ various]] personal projects in Mikindani. He sponsors, amongst others, others, school fees for "the Twins’, fees for "the Twins’, for "the Twins’, "the Twins’, Twins’, Fatuma's shop, shop, Dr Ndagala’s Bukoba Ndagala’s Bukoba Bukoba Museum. 41. Key management personnel and related party transactions | | In Tanzania, Trade Aid operates through an independent Tanzanian registered Charity — Trade 3 Aid Tanzania. The Chairman of Trade Aid — Mr Brian Currie, is a Trustee of Trade Aid Tanzania. . Trade Aid Tanzania receives most of its funding in the form of grants from Trade Aid, although : some relatively minor funds are raised locally in Tanzania. In 2023 Trade Aid UK provided 7 £102,826 (2022- £105,829) of funds for Trade Aid Tanzania. : | Trade Aid Tanzania is subject to a full audit of its accounts in Tanzania.

Trustees are not remunerated. £2,018.81 was reimbursed for directly incurred travel expenses to two trustees (2022 - £Nil) .

During the year the charity received £222,890 (2022: £149,808) in donations from trustees and entities controlled by trustees of the charity.

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