TRADE y ty TRADE AID UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024 11 Glasshouse Studios Fryern Court Road Burgate Fordingbridge Hants SP6 1QX
TRADE AID Contents Page Contents Trustees. Annual Report Independent Examiner's Report Statement of Flnanclal Actlvilies Balance Sheet Notes to the Financial Statements 10-16
TRADE AID Trustees, Report for the year to 31 December 2024 Reference and Administrative Details Trade Aid is a UK registered charity (number 1059925) whose principal address is: 11 Glasshouse Studios, Fryern Court Road Fordingbridge Hampshire SP6 1QX The Trustees during the year were: Jane Langford (Chair) 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, and frequently more often. 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. In January 2024, Tim Jordan-Dench was reappointed as a Trustee. Trustee visits - Jane Langford visited the Trade Aid projects in Mikindani in September 2024. The death was announced in February last year of Denis Massoi, Trustee of Trade Aid Tanzania, whose expertise helped to make the original project possible. The remaining members of Trade Aid Tanzania Board of Trustees are Magreth Mwambe, Kate Kamba, Doctor Daniel Ndagala and Brian Currie 2024 also marked the passing of other associates and friends - Regina Navilongo, Trade Aid Tanzania Accounts Manager and Rehemia John Zomari, son of former Old Boma Manager John Zomari and stepson of Trustee Magreth Mwambe. In the absence of a full time Project Manager UK these duties have been fulfilled jointly by Jane Langford and Pam Field. Some responsibilities have
TRADE AID already been, and more will be over time, transferred to the Project Manager Tanzania 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 Tanzania, Emmanuel Mwambe, and with the Trustees of both Trade Aid UK and Trade Aid Tanzania. Her duties include day-to-day management of Trade Aid UK accounts, general charity administration, 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 will be shared with staff members in Mikindani.. Emmanuel Mwambe (Project Manager Tanzania) 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). Since the death of Regina Navilongo, Maria Simon has been appointed and Donna Wright has increased her involvement with the charity and continues to work with the Finance Manager, Consolata Nzali 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, in addition to working remotely from her home in Dar-es-salaam, to support the project in all training 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 currently comprises four roles (Hotel Manager, Hospitality Training Manager, English & IT Trainer, Finance Manager). Another position will be added in 2025 of Safety Off icer, ensuring high levels of safely are maintained throughout the hotel. This 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 2024, two groups each of 20 trainees completed their training in Hospitality and English on schedule. This year's graduates have all secured jobs throughout Tanzania and beyond. Trade Aid are instrumental in finding jobs for the trainees and monitoring their progress throughout their careers. The Afya Spa, housed in the newly renovated Bank House, off ers a range of beauty, massage and spa treatments to guests and visitors to Mikindani. Bank House ground floor rooms have been let out to a local business.
TRADE AID The Tree Nursery programme continues to thrive and expand, supplying local schools with seedlings and helping to teach the children the importance of environmental issues. The community English class continues to provide essential language skills to the adults of Mikindani, The Child Equality Programme operated throughout 2024, has supported 65 children through primary, secondary and high school. Rising costs and the limited donations available from private sponsors makes this number untenable and it is intended that the number of new children entering the programme will be reduced over the next few years. As part of the continuing process of transferring more responsibility both administrative and financial to the management of Trade Aid Tanzania, the responsibility for and administration of the CEP, FESS (Further Education Student Support) programmes, as well as the SPF (Small Project Fund) have now been transferred to Trade Aid Tanzania The conservation work through the Mikindani Museum ('Makumbusho') progressed in 2024 with a visit 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 Jordan- Dench) in the UK, ensures that the Museum is constantly expanding and attracting interest. A video documentary focusing on the Museum and the origins, culture and history of Mikindani was filmed and published in 2024. It is hoped that this documentary, which has been nominated for the 2024 Smiley Charity Film Awards, 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. As part of our ongoing conservation work in the area, the restoration of Governor Dumquat's House in Mikindani was completed during 2024. Governor's House now includes showering and changing facilities for staff and trainees and also provides a canteen where they can meet up during breaks. The garden has been landscaped and a banda built which will provide facilities for hosting weddings and other community celebrations. During 2024 the downturn in the number of international guests at the Old Boma continued. Tension along the Tanzanian/Mozambique border and threats of terrorist activity throughout southern Tanzania has led to foreign governments issuing advice against all but essential travel to the region. It is
TRADE AID hoped that this situation will ease during 2025 and that international guest numbers will increase. Objectives and Activities Education for employment will remain the main objective for 2025, with two further cohorts each of 20 trainees receiving comprehensive training at the Old Boma as well as benefitting from field trips and work experience visits. Expanding our internal training provision for staff will continue so that all knowledge gained can be passed through to trainees and wider family rnembers. In 2025 Trade Aid will operate a Health and Safety Initiative for all staff and trainees, emphasising the importance of good practice in the hotel and throughout the project. It will include accident prevention and simple first aid procedures. Trade Aid will 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 continue to work with the local government agencies to support the new by-laws created in 2021 . 2024 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. Trade Aid continues to be dedicated in efforts to communicate with local communities on the benefits of conserving historic buildings and the economic 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 2025 so that these efforts can
TRADE AID continue, and the historic buildings remain both an educational and economic asset to the community. The establishment of a referencellending library is planned for 2025 which will provide facilities for staff, trainees and the wider community to access books and the internet. Trade Aid intends to increase its environmental projects, and its commitment 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. Trade Aid UK will continue to transfer administrative and financial responsibility to the local management of Trade Aid Tanzania. Financial Review It is the charity's policy to retain only suff icient reserves to safeguard the continuity of its overseas operations, thereby committing the maximum possible resources to its current programmes. At the close of 2024, Trade Aid held £13,060.94 in reserve which is allocated to Trustee-approved projects. In addition, Trade Aid held £532 in its current account. In 2024, 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 ol 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 Jane Langford Chair of Trustees Dated Iilimfvl 2025
TRADE AID 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 2024, which are set out on pages 2 to 16. Responsibilities and basis of report 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,). I report in respect of my examination of the Trustee, s accounts carried out under section 145 of the 201 l Act and in carrying out iiiy exainination 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: (l ) accounting records were not kept in respect of the Trust as required by section 130 of the Act. or (2) the accounts do not accord with those records. or (3) the accounts do not comply with the applicable requirement.8 concerning the forni 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. 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: James Fletcher Fletcher & Partners Chartered Accountants Crown Chambers Bridge Street Salisbury SPI 2LZ
TRADE AID Statement of Financial Activities Year lo 31 December 2024 Note Unrestricted Restricted Funds Funds 2024 Tolal Funds 2023 Tolal Funds Income from: Donations and Legacies Investments Total Income 51,885 780 105,474 157,359 780 105 474 158 139 233,209 233,209 Expenditure on: Charitable activities Total Expenditure 135,399 135 399 114,780 250,179 114,780 250 179 155,021 155 021 Net {expenditure)lincome (82,734) (9,306) (91 ,980) 78,188 Net movement in funds Reconciliation of funds: Total funds brought forward 94,016 10,593 104,609 26,421 Total funds carrled forward 11,282 104609 The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.
TRADE AID Balance Sheet As at 31 December 2024 2024 Total funds 2023 Total funds Note Fixed Assets Tangible fixed assets Current Assets Cash at Bank and in hand 105,809 105,809 13,829 Liabililies Creditors - amounts falling due within one year 1,260 1,200 Net Current Assets 1,260 Total Net Assets 104 609 The funds of the charity Unrestricted funds Restricted income funds 11,282 1,287 94,016 10,593 10 Total Funds 104 609 These financial statements were approved by the board ol Trustees on the and signed on its behalf- Jane Langford Chairman David E Trustee onds
TRADE AID Notes to the Financial Statements for the year ended 31st December 2024 Accounting Policies The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements- 1. Basis of Preparation 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-. The Charity becomes entitled to the resource The Trustees believe that receipt is probable The monetary value can be measured with suff icient reliability. Grants, donatlons and gifts Grants donations and gifts are included in the SOFA when the Charity has unconditional entitlement to the resources. Volunteer help The value of any voluntary help received is not included in the SOFA but is described in the Trustees Report. Interest income This is included in the accounts when received. 10
TRADE AID Notes to the Financial Statements for the year ended 31st December 2024 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. Grants payable 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 Accountlng 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.
TRADE AID Notes to the Financial Statements for the year ended 31st December 2024 Accounting Policies (continued) Unrestricted funds Unrestricted funds comprise General funds. General funds represent amounts, which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. 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. Assets Cash at bank and in hand includes cash on deposit at the bank. 12
TRADE AID Notes to the Financial Statements for the year ended 315t December 2024 2. Analysis of donations and legacies Note Unreslricled funds Restricted Funds 2024 Total Funds 2023 Total Funds Donations and legacies Corporate Donations Trusl donations Other donations Tolal donations and legacies 52.665 52,665 207.487 105,474 105,474 25,722 52,665 105 474 158 139 3. Expenditure on charitable activities Note Unrestricted funds Restricted Funds 2024 Total Funds 2023 Total Funds Costs on behalf of Trade Aid Tanzania Grants to Trade Aid Tanzania Salaries and staff expenses Travel and staff costs Support costs Governance costs Total Expenditure on charitable aclivities 8,024 101,784 13,237 8,024 216,564 13,237 2,684 125,137 13,842 1.482 9,333 114.780 7,728 7.728 135 399 114780 250 179 155 021 4. Analysis of support costs. Support costs 2024 2023 Payroll costs Insurance Office running costs 2,438 279 5,322 338 Total support costs All such expenditure relates to unrestricted funds 5. Analysis of Governance Costs Governance cosis Legal Fees Trustee expenses UK Accountants fees Trustee expenses TZ 2024 2023 1,096 1,260 395 1,200 948 Total governance cosis 13
TRADE AID Notes to the Financial Statements for the year ended 31sI December 2024 6. Fees for examination of the Accounts 2024 2023 Independent examiner's fee 1,260 7. Analysis of Staff costs Staff Cosls 2024 2023 Included within support costs: Gross Wages - UK staff Slaff Training Pension costs Employers N I Contributions Toial wlthln support cosls Gross Wages - TZ stalf (split between Charilable activities and grants to Trade Aid Tanzania) 2,438 5,322 2,438 5,322 13,237 15,675 13,842 19,164 Average number of full time employees- Administration Charitable activities The charity recruits and employs volunteers in the UK. who are then posted io Tanzania. Their employment and transport costs are recorded as Grant funding of charitable activilies. In 2024 no UK volunteers worked lor this charity. All volunteers who assisted us in 2024 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 2024 or 2023. 8. Creditors Creditors: amounis lalllng due within one year 2024 2023 Accountancy Accrual PAYE Creditor 1,260 1,200 14
TRADE AID Notes to the Financial Statements for the year ended 31sI December 2024 9. Movement on Funds Fund balances as a131 December 2024 Fund balances asat1 Janua 2024 Income Ex enditure Unreslricted funds General Funds 94,016 52.665 135,339 11,342 Resirlcted funds GEPICEP TATZ- Fund Mikindani Museum Bank House Brian Currie FESS Communiiy Fund Training Capital Projects 1,474 2,200 1,182 4.978 72 6.333 7,795 2,200 1,900 4,978 7.045 13,875 7,000 687 12 1,721 1,003 7.125 13,995 7,000 152 120 687 105 474 114780 Toial Funds 104,609 158,139 250119 10. Movement on funds- Previous year Fund balances as at31 December 2023 Fund balances asat1 Janua 2023 Income endlture Unrestricled funds General Funds 17,272 207.487 130.743 94,016 Restrlcted funds GEPICEP TATZ Mikindani Museum Bank House Small Projects Fund Brian Currie FESS Community Fund Training Capital Projects 1,354 3,885 4,000 1,738 3,765 1,800 1,363 1,474 2.200 1,182 4.978 807 4,978 93 630 601 2,200 12,215 1.884 2,093 12,772 2,485 72 687 687 Total Funds 233 209 155 021 104 609 All funds are held within current assets - { 2023- All within current assets ) 15
TRADE AID Restricted Funds TATZ- a contingency reserve for Trade Aid Tanzania. Bees - Funds donated lo 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 Larasian1£2.000) for use by Ihe Project Manager TZ to help local people at his discretion, for their special/emergency needs. including heallh, 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 lund into which donations for various other personal projects are deposited. For example, in 2016 the then UK Project Manager, Alex Cole. sponsored the Mikindani Foolball Team and supported a local Mikindani man in ill health. Pam Field contributed in 2017 and 2023 to the cost of a prosthetic leg for Nasra Mohammed. employed as receptionist at the Old Boma Hotel. 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 Ihe donation from Mr & Mrs Herting. No further funds after 2024 will be raised in the UK for this project. DAuseum - Funds reseNed 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 LarasianlBrian Currie for the restoration of Bank House - now completed. Training - Fund for special training for TATZ staff, in addition to their "normal" training ai the Old Boma Holel in Hospitality skills, English and IT. TwinslBCG fund inlo which personal donations from Brian Currie are paid for various personal projects in Mikindani. He sponsors, amongsl others, school fees for'the Twins" Fatuma's shop. Dr Ndagala's Bukoba Museum. 11. Key management personnel and related party transactions In Tanzania. Trade Aid operates Ihrough an independent Tanzanian registered Charity- Trade Aid Tanzania. The Chairman of Trade Aid- Mr Brian Currie, is a Trusiee 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 2024 Trade Aid UK provided £101,784 (2023- £102.8261 of lunds for Trade Aid Tanzania. Trade Aid Tanzania is subject to a full audit of its accounts in Tanzania. Trustees are not remunerated. £1,492 was reimbursed for directly incurred travel expenses to two trustees (2023 - £2,019) During the year the charity received £143.485 (2023: £222,890) in donations Irom trustees and enlities controlled by trustees of the charity. 16