Charity regi5trdtion number. 1083550
Ghana International Foundation
Anthual RerM)rt and Financi￿ s￿ements
for the Y¢ar Ended 31 December 2023

Ghana International Foundation
Contents
Reference and Administrative Detwls
Trustees. Report
2to4
Stsiement of Trusttt5' Resp)nsibilities
Independent Exwninerfs Re￿)rt
Statem¢nt of Financial ActtwtiC5
Balanc¢ Sheet
Noies to the FinAn¢i81 St*ements
9t014

Ghana International Foundation
Reference and Administrntive Detsils
Trnstees
Lord P Y Boaten8
Mr D Adan5l
Mr C Thomson
Mr R J B Sambou
Mr S Blmndari
ChArity RegistratioD Number
1083550
Principal Office
67 Cheapside
London
EC2V 6AZ
Independent Examiner
S￿gertI & Co
Chartr¥ed Accounlants
219 Croydon Road
Catetham
Surrey
CR3 6PH
B&thkers
Ghana Iniemation81 Bank plc
67 Cheapside
London
EC2V 6AZ
Page I

Ghana International Foundation
Trustees, Report
The Trustees present the annu81 repon togeiher wtth the financial ststements of the charity for the year ended 31
December 2023.
The finarttj￿ statements have been prepared in a¢cordattce with the accounting ￿)liCieS %t out on page 9 and
comply with The Foundation's Trust Deed and applJ¢able law.
Trnstees
Lord P Y Boateng
Mr D Adansi
Mr C Thomson
Mr R J B Samtrou
Mr S Bhandari
Objectives and aetiYiti¢s
Objects #im5
Ghana International Foundation (the -Foundation l is sw)nsored by Ghat)a International Bank plc (th¢ "Bank"
,￿H1B'
and "Sponsor-l. Its objects are to provide relief to persons in Africa alld esp¢¢ia]ly Ghan& from
condition5 of need. hardship or distress and the furtherance of health. and ducatiott. These objects are a¢hieved
throllgh 8rant$ to provide firwjcial $upp¥)rt for organi5ations wh¢)se a￿1vIlIeS and goals align with the
Foundation's objects.
Publit benefit
The Trustees confinn thai ihey have complied with the requirements of section 17 of the Charities Aet 2011 to
have due re8ard io the publt¢ benefit gllidance published by the Chariry CoTnmi5SiOt) for England and Wales.
Grant making polities
The Foundation 15 funded principally by the Sptsnsor.
Th¢ objedives of the Foundation address three principal areas of need. namely Health. Ed￿￿tiOn, and the Relief
of Poverty. Appli¢ation5 are invited frorn or8anisations. li)oth incorrM)T*ed and unincorp(>Tatedl eomprising
re8tster¢d charittes, NGOS and commuoity-b&sed prL>j¢cts. The Foundation is small and only has one major
souree of fundin8 lap* from ad dortations from Directors or cmployees of the Sponsorl. b¢cause an
adequate flow of suitable appli￿10￿5 is forthcomin& no gener￿ advertising is undertaken.
Thi5 year, the Foundation has continued to work in partnership with other organisations on certain projects
located in remote rurdl areas of Ghan4 where fimds are desperately tte¢ded. Where it is evident that the futjds
have been used io maximurn effee4 subject ¢0 meeting condttion5 for additional grants. the Tn]scees are well
disposed to making fvrther financial &ssistaTtce available to these organisations. The Trustee5 generdlly aim to
direct grants towards specific capital projects. oft¢n hand in hand with local rdiSirt& rather than revenue
fvnding.
The Trustees r¢le&5e funds in line with the Foundation's GT#llt Makin8 Policy and monitor the use tsf these
fijnds. during their annuaj visits tt> Ghan& and fft)m regular project update rtporLS ltypicallv aceomp3nied by
photographs of the developing projects} from rectpients of Foundation fiJnd5. Furthermo￿ Ghana-ba5ed
reprcsentaiives of th¢ s￿￿50r visit Foundation fvnded projects from time to time to monitor grdnt application5,
and use of grdllts.
Page 2

Ghana International Foundation
Trustees, Report (continued)
The nllrn￿r of grdnts made by the Trustees in 2023 was significantly hi8her than the pr¢vious financial year
with more application5 in 2023 received by th¢ Foundation closely ali8nin8 with its objects or otherw5e being
in-swpe of the Grant Making Policy. A tora] of 17 {2022=12} requests were received by the Foundation during
the year. of which 1012022.61 Ivere rejected for various re&son5 in line the Found￿10n.5 ptslicies. and of
whi¢h 712022.61 were accepted and grants awarded to applicatlts.
Finan¢i#l review
The SponsoT donates to the Found￿10￿ ai the end of ea¢h financial year on th¢ basis of its perfomiar)¢e for that
year. In 2023, a donation of £50,000 {2022.-£50,0001 was paid on the basis of the Sponsor's Annual Repon and
Financial Ststements for the Year Ended )022 . The Trustees have no reason to believe that there will be any
change in the Sponsor's commikneni to the yearly donations to the Foundation based on its perfonnancc OT that
these donations will otherwise cease.
The Foundation continued to r¢ceive proposals from a M'ide spectn]m of worthy ￿u5¢S during the year artd in
the Follndation's twenty third year of operations it made nem. disbursemeni cotnmttments toralling £147.?i5. In
2023, 260/• of donation5 have been for H¢aJth-related proj￿ts.. 460/0 for Edueation and 280/0 for the relief of
Poverty. Details of disiribution5 made in 2023 are shown in Note 6 on page 12. These include 8 grant of £20,000
awarded to To Live in H.O.P.E. in December 2023 and paid in January 2024 which is included in the fLnan¢ial
ststwn¢nts.
From time to time. the Foundation matches donations (if any) by indLVLdua] dirtt¢oTS and employees of the
Sponsor made to approved beneficiaries whose activities all￿ with the objects of the Foundation.
The Found￿10n reports an ex¢ess of exp¢ndiwre over income of £93,797 for the year under r¢view {2022 exces5
of expenditure over income of £42,138} i¥ith iothl funds at the year-end of £45.368 12022- £139,160) The
Foundation's monies are deposited in an interesi-bearing account with the Spon50r from which donatiODS ond
grants are paid. No chatLge5 to this policy are ¢xpeeied in the fortseeable fuiur¢.
Policy on reserves
The Foundarion has tm) othcr &8sets apart from cath balanccs wtth its Bat)k¢rs. The Tru5tee5 and stalT of the
Sponsor in London and Accrd give their lim¢ voluntarilj to ￿rfOrn) the Work required for and by the
Foundation. The Found&ion's operating expenses art nominal and are borne by its Spx)r)sor. Consequently. the
need and level of reserves is based on the commitments tnade by th¢ Foundation for future years but at the end
of 2023 there were no su¢h commitments outstanding. The Tn￿ee5 disburse re¢eapts, as far Is is TK)S5ible. tt>
worthy cause5 during the a¢touniing vear in which Sponsor's fimds are received. No commitment is made lo
applicants for future funding. Grants are made &s and when funds are available in any given year. The Trustees.
resetve poli¢y position is reviewed fyom lime to time_ The Trngtees euffenily maintain a de minimis resetve
level of £2.000 per annwn. klow which no commitment i5 made by the Foundatton for any award of granis.
During th¢ year a sum of £20.000 of designated funds for the Fouthdation has been a]locai¢d for a matched
fi]nding scheme for fijndraising by staff.
Structsre* governa￿te and m#n*gemeDt
Naiure of governillg docu￿¢￿1
Th¢ FoundatlOIl 15 regulated by a TnLSt dated l August 2(N)O as amended by de£ds of variation dated 12
(ktober 2000 and 26 October 2021.
Pag¢ 3

Ghana International Foundation
Trnstees, Report (continued)
Org8nisational strnfture
The Foundation is controlled by the Trustees. all of wh(An are based in the Llniied Kingdom and cornprise the
Sw)nsor's Chief Exe¢utive OtTJ¢er. Deputy Chicf Executive oificer & Chief Operating Offjcer. and three of the
Bank's Independent Non-Execulive Direetors. one of wknm t$ the Trustee chair. The Tn￿teeS delegate the day
to day running of the Foundaiion to the Sponsor s stsff. who. on a voluntary b&%is, undertake adrninistr8tiwe
aciivilie5 5u¢h as screening requests from grant applieanty policy development, Sttretarial sup￿)rt. and other
respon5ibiliti¢s, as delegated by the TTUSttts from titne to lime. All Trustee5 are involved in the decisio￿$ of the
Foundatton by an exchange of emails and quanerly mtttings in each year. The Foundation has in place various
policies and procedures. which arc regularly reviewed. including. without limitstion. policies covering
grdnt-making. conflicts of inieresL 5afegllardin8 and vulnerable persons, antt-money laundering 3nd
counter-terrorism fJn8ncin& gifts and hospitajtty and investhient management. The Trustees re8ularly Tcview
their risk ex￿s￿re5 to d￿ern]Ine the need. if any, for addtltonai w>licie& procedures and other conlrols.
Mgjor risks XDd m4n#gement ofthose risks
During ihe year ended 31 December 2023. the Trustees havc und¢rtak-¢n a risk a55e55ment of all perceived risks
to whtch the Foundation is exposed and. where appropriale. have taken Steps to miligatr against those risks. The
Foundation's risk &s5e5smeni framework is revtewed re8ularlv and at least 8JLnuallv.
Approved by the Trustees of the charity on I I September 2024 and 5i8ned on its b¢ha]f by:
)rdP
oateng
Trustee Chair
Pag¢ 4

Ghana International Foundydtion
Statement of T￿St￿$, Responsibilities
Th¢ Tn]stees are responsible for preparing the truste¢s' report a[￿ the finan¢iai statements in a¢¢ordanee with
the Uniied Kingdom Accounting Sthndard5 (United Kin8th)m Generally A¢cepted Accounting Ptxcticel and
appli¢abl¢ law and regulations.
The law applicable io charities requires the tswitts to prepare finan¢iai stalements ftsr ea¢h financia] year whi¢h
give a true and fair view of the stsle of affairs of the charity and of the incoming resources and appliraiion of
resources of the charity for thai period. In preparing these fi]wicial sth*menLK the Trust¢e$ are required kn..
sele¢r suitable accounting px)lieies and then apply them consist¢nt]y*
observe the methods and principles in th¢ Charities SORP-
make judgements and estimates that are reawnable aTLd pwdenL
sta¢¢ whether applicable a¢¢ountin8 Standards have been ftsllowed, subject to any materÈal departur¢s
di5¢1osed a￿d explained in the financial ststernents. and
prepare the financial statements on the going ¢oncern basis unless it i5 inappropriate 10 presume that the
charity will Continue in business.
The T￿s￿e$ are respojtsible for ke¢pin8 prO￿r ac¢(pllntin8 records thai diselose with rtasonable accuracy ai
any time ihe financial TK)silion of the charity and enabl¢ them io ensure thai th¢ financial statements comply
with the Charities A¢t 201 l. the Charities (Aceounts and R¢p)]ts} Re8uSat10115 2008, and the proyisiorts of the
con5titutitsn. The Tnjstees are a150 r¢sp)nsiblt for 58fegu8rdin8 the assets of the charity and hen¢e for taking
reasonable $￿p$ for the prevention and detection of fiavd and other irregularities.
Approved by the Tn￿lee5 of the chariry on I I September 2024 and 5ign¢d on its behalf by:
Lord P
Boat¢ng
Trustee Chair
Pag¢ S

Ghana InterDational Foundation
Independent Examiner's Report to the trustees of Ghana International Foundation
I r¢ptsrt to the Tru5tee5 on my txamination of the accounts of Ghana Intrrnational Foundation for th¢ year ended
31 December 2023.
Rt5pon5Rbilities and ￿$15 of report
As the charity Trustees of Ghana International Found*ion you resp)n5ible for the preparntion of the
accounts in accordance the requirements of the Charitie5 Act 2011 I'the Act'l.
I rep)rt in respect of my examination of the Ghana Intemational Foundation's accounts carried out under section
145 of the 2011 Act and irt canying out mv eXamIr￿10n I have followed a]1 the applicable DireciÈons given by
the Charity Commission under sertion 145{5Kbl of the Act.
Independent examiner'5 5tatemtnt
I have ¢otnpleied m) examin￿]0￿. I eonfinn no material mattws have come to my *tention in conn¢ction
with th¢ examinaiion giving me ca￿se ￿ believe that in any material respect..
l. aecoutrting records were not kepi in respect of Ghana Internattonal Foundation 8$ required by section 130
of the A¢L or
2. the accounts th) not accord with those rtcords: or
3. the accollnts do noi ¢omply wtth the aceourtting requrtetnents concerning the forni and contertt of ae¢ounts
set Oui in the Charitics IA¢ctsunts and Rew>rtsl RegUl￿10th$ 2008 other than ar]y requitrment that the
accollnts give a 'true and fair Vie￿ which is not a matter eon51dered 8$ part of an ind¢pendent
exatnination.
I have no coneems and have come a¢ross no other matters connertion wtth the examtnation to which attentiotl
should
e drawn in this report tn orderto enable a prop¢r understsnding of th¢ accounts to be reach￿.
Alison Sargent FCA
Sargent & Co
Chartered Accountants
219 Croydon Road
Caierham
Surrey
CR3 6PH
Date-. 18 September 2024
Page 6

Ghana Internation21 Foundation
Statement of Financial Activities for the Year Ended 31 December 2023
Unrestrirfed
funds
Tot*1
2023
Unrestricted
funds
Totsl
2022
Note
Income from:
Donatiort$ 2nd lewies
Investment income
54.022
3,141
54.022
3.141
5 1.920
448
51,920
448
Total inwme
57,163
57.163
52,368
52.368
Expenditure on:
Charitable activities
1150.955)
{150.9551
194.5061
(94,5061
Total expenditure
Net ¢xp¢nditure
Net tntsvement in funds
1150,9)))
1150.9551
194,506}
194,5061
193.7921
193.79)1
142.li8)
142.1381
(93.792)
(93,7921
{42.1381
{42,1381
Reconciliation of funds
Total funds broughi forward
139.160
139.160
181.298
181.298
Ttsta] funds carried foThYard
10
45.368
45.i68
139.160
139.160
All of the charity'5 activities derive from continuing operations during the above two periods.
The notes on pages 9 to 14 fonn an integral part of thes¢ financial statem¢nts.
Page 7

Ghgna International FouDdation
(Regtstration Dumber: 1083550)
Balallee Sheet as at 31 December 2023
21J23
2022
Note
Current &￿ets
Cash at bank and tn hand
65J68
139.160
Creditor5: Amounts fAlling due wi¢hin ODe vear
Net assets
120.0001
45.368
139.160
Fund5 of the ¢hxrity:
Uttrestri¢ted ineomt funds
Unrestricted funds
45.368
139,160
Total fund5
10
45.i68
139.160
Th¢ financial statements on pages 7 to 14 were approved by the Tnjstees. and authorised for issue on
I I September 2024 and sigtEed on th¢ir behalf by..
Lord P
Boaten8
Trustee Chair
The noies on pages 9 10 14 fonn an irrtegral part of these financial stst¢ments.
Page 8

Ghana International Foundation
Notu to the Fillancial Statements for the Year Ended 31 December 2023
l Aceounting poli¢i¢s
Statement of compli*nct
The fjnancial statements have been prepared in accordance with the second edition of the Charities Ststement of
Recommended Pra¢ti¢e issu¢d in October 2019. the Financial Rew>rtiTh8 Standard applicable in the United
Kingdom and Republic of Ireland (FRS I02} and the chan.iies Aa 2011.
Bisls of prepgrntion
Ghana International Found*ion meets the definition of a public beneflt enttty under FRS 102. The accounts
Ifjnancial statements) have been prepared utlder the historical ¢osr convention with items r¢¢ognj5ed at cost or
transa¢tion value unles5 otherwise sth¢ed in the relevant notelsl to th¢se accounts.
Going ¢on¢ern
The TnLsie¢s consider that there are no materia] uncertainties a￿ut the Chwity's ability to continu¢ &5 a going
concem.
Ineome and endov•'ments
Voluntary income including d¢)nations. gifts. legacies and grants that provide core funding or are of a generdl
nature is re¢ognised when the charkty has entitlement to the income. it is probable that the income will be
received and th¢ amouni c4n be measured with suffJeieM reliability.
tknnaied serviees
Where seryices are provided to the charity as a donatiotl that would ty)rn￿lty be purdlased from our Suppliers,
this ben¢fit is inGluded Jrt the fjnancial stat¢m¢nts a( ifs fair value.
Expenditure
All expenditure is recognised once there is a legal or cOnS￿￿1¥e obligation to that expenditure, it is probable
Settlement is requjred and the atnouni can be rne4sur￿ reliably. All eosts are a]ltsrated to the applicable
expendin]re he4ding that aggregate $Èmilar eosts to ¢8tegory.
ChAritable activitie5
ChaTitsble t.xpendiiuTe ￿mPriseS th05C Costs iTb¢urred by the charity in the delivery of its a¢tivities and services
for its ￿￿erI¢laric5. It includts both ¢osts thai can be a]lo¢ated directly to such aetLVLiies and thos¢ ¢osts of an
indirert natur¢ necessary to supwrt them.
Grgnt prowisioM$
Provisions for grants are made when the intention tts mak'e a grdnt h&s been Communicated to the re¢ipient but
th¢r¢ is unL%rtainty aboui ¢ither the timing of the 8Tant or the amount of 8rant payable.
Governanee costs
These include the costs attributsble to the charity's cotnpliance with constitutiort￿ and statutory requirements.
including itldependent exatnination sirate8ic management and trustees meeting5 and reimbursed expenses.
Page 9

Ghgng Internation41 Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Taxatlon
The chaNty' is considered ￿ p&ss th¢ tcsts set out iu Pardgraph I khedule 6 of the Finance Act 2010 and
therefor¢ li meets the definition of a charitable company for UK ¢OTporatton thx PUTP05es. Accordingly. the
charity is potentially exempt from in respeci of income or capits] gains received within c8regories
covered by Chapter 3 Part I l of the cOT￿ration Tax Act 2010 or Section 256 of the Ta¥ation of Chargeable
Gains Act 1992. 10 the extent that such incorne or gains are applied exclusively to charitable purtx)s¢s.
Cash 8nd ea$h equivxltnts
Cash and cash ¢quivalents comprrse c&sh on and call detrtisi￿ *]d other shtsrt-term highly liquid
investrnents tha¢ ￿adIlY cortvertible ￿ 8 known amount of cash and are subject to an insigllificani risk of
change in valt]e.
Foreign exchange
Transactions in fo￿]g￿ currencies are re￿rded at the rne of exchange ￿ the d*e of the transaction.
Fund structure
Unrestrieted income funds are 8enera] ￿ndS thai are a￿lIable for use at the Trustee5 discretion in fvrtherdnce of
the objectives of ihe charity.
Designated funds are llntrstricted fi￿d$ set &side ftir specific purp¥)se5 at the discretion of the Tntsiees.
2 Ineome from donatlolls 40d legacies
L.nrts¢Tirted
fund5
GeD¢r•l
Totsl
2022
2023
Donations and leg&ies:
Dortation from Ghana Int¢maiional Bank plc
Donations from individuals
Donated services
50.IK>O
50.000
302
3.720
50.000
3.720
1,920
54.022
54.022
51,920
3 I[tVe$t￿ellt income
Unresiricted
funds
GeDer#l
Ttstsi
2023
Total
2022
Interest reeeivablc and similar income.
Inierest receivable on bank deposits
3.141
3.141
448
Page 10

Ghana International Foundation
Notes to the Financial Ststemettts for the Year Ended 31 De¢ember 2023 (continued)
4 E%penditur¢ oll ch*rit*bl¢ *¢tivities
L'nrestrfetrd
fuDds
Gener*1
Total
21b23
Totsl
2022
GI￿1 funding of a¢iiviues
Allocated 5UPPOrt costs
Governance costs
147235
1.800
1.920
147,235
1.800
1,920
92.586
1,920
150,955
150,955
94.506
5 Analysis of govern*nce costs
Govern&thee costs
Lnrestricted
fund5
Gentrgl
T•txl
2023
Tot*l
2022
Independent examiner f¢es
Examination of the financial swtmcnts
1,920
1.920
1,920
1.920
1,920
1.920
Pagell

Ghallx International Foundation
Notes to the Financial Ststements for the Year EDded 31 December 2023 (continued)
6 Grant-m8kiDg
Analy$ls of grants
Grnnts to in$titution5
2023
2022
Anglysis
Education
Health
Reltef of wverty and education
67,562
38.700
40.973
65,345
27,241
147,235
92.586
Below are details of rnaterial made io institutions.
2023
2022
N&me of irtstitutioo
Attivity
Creating New Besi[￿l￿g$
Educatign
Move the World
Education
Action through Enterprise
Relief of p>verty and edueation
Porridge & Pens
Relief of p)verty and edu¢atiOD
Street Children Empowemiwt Fund R¢lief of ￿￿erty and ¢duc*ion
Korle Bu Girls S¢hwl
Relief of rrf)verty and education
Cur¢ Internatiotjal
Heajth
To Liv¢ in H.O.P.E
Health
57.562
10.000
20.000
20.0￿)
60,345
5.000
8,832
10.000
8.409
973
18.700
20.000
147.2i5
92.586
7 Trnstees remuneration and expenses
No Tnr$t¢e3, nor any p¢r30ns conncctcd with (hem. havr receÈved 8nv remuneration from the charity during the
year.
No Tnjstees have received any re1mbur￿d expenses or any other benefits from the charity durittg the year.
Page 12

Ghana Internalion81 Foundation
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
8 Tsxation
The charity is a registered ¢harity and is thcrefore exempt from ￿￿10n.
9 Creditors: fallin2 due within one yur
2023
Grants payable
20.000
10 Funds
BalAnce at
31
December
2023
Balance At I
J#ttu#ry
2023
IncorniDg
Resources
eipended
Trnn$f¢rs
U￿r￿tri￿ed funds
General
139.160
57.163
{150,9551
{20,000}
25.368
Designated
20.000
20,0(
Total funds
139.160
57.163
1150.955)
45.368
A sum of £20.000 of desigDat¢d fi]nds for the Found&ion have been allocat￿ for the matched fi]ndiTr8 schem¢
for fundraising by stsff.
Balance At
31
De¢¢mb¢r
2022
Balance xt I
January
21122
Incorning
Resources
eipeDded
Tr*n$fers
Unre$tri¢ted funds
General
179298
52J68
194.506)
2,000
139.160
Designated
{2,000
Total fund$
181.298
{94.5061
139.160
Page 13

Internationgl FoundatlOD
Note5 to the Financial Statements for the Year Ended 31 December 2023 (continued)
11 AnaIy$is of net 8ss¢ts brtt¥een funds
Unrestricted
funds
General
Total ￿nIts it
31 December
2023
Cyrrent assets
Current liabilities
65.i68
120.0001
65.368
120.000}
Total n¢t assets
45.368
45.368
Uttre5tritt¢d
funds
Gener21
TotAI fund5 Ilt
31 December
2022
Cunynt &ssets
139.160
1.19,160
12 Related pgrty tra1158ctions
During the year th¢ charity tnade th¢ ftillowing related paty tran5aetions:
Ghan# International Bank plc
Donation from the Bank of £50.000 12022 £50.0001. Indepet*d¢nt examith¢rf5 fees of £1.9?012022.. £1.9201 a]]d
accountancy fees of £l.800 12022.. £Nill were paid by GHIB from its fijnds in 2023 and shown In the
financial Statements don￿ed services. At the balance Sheet date the amount due tolfrom Ghana International
Bank plc was £Nil 12022- £NJll.
Page 14