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2020-07-31-accounts

Trustees P N Szkiler
ATaylor
M Gianni
M Christenson
I Tanner
LA Thompson
A Proudfoot
P Wenham
B Corley
Secretary BHarber
Charity number 1089505
Company number 04247153
Registered office 6th Floor
60 Gracechurch Street
London
EC3V OHR
Independent examiner Matthew
Burge		 (FCA)
Beavis Morgan LLP
82 StJohn Street
London
EC1M 4JN

Page
Trustees
report		 1-3
Independent
examiner's		 report
Statement offinancial activities
Balance sheet
Notes to the financial statements 7-16

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
Notes 2020 2020 2020 2019
K		 2019f 2019
E
Income from:
Voluntary
income		 22,638 110,897 133,535 12,060 18,240 30,300
Investments 55,496 55,496 49,113 49,113
Total income 78,134 110,897 189,031 61,173 18,240 79,413
Ex enditure
on:
Raising funds 20,880 20,880 19,412 19,412
Charitable
activities
Provision ofsupport 6 37,064 13,270 50,334 19,931 16,268 36,199
Total charitable expenditure 37,064 13,270 50,334 19,931 16,268 36,199
Total resources
expended 57,944 13,270 71,214 39,343 16,268 55,611
Net income for the year/
Net incoming resources 20,190 97,627 117,817 21,830 1,972 23,802
Other recognised gains and losses
Other gains or losses 12 355 (5,303) (4,948) (2,183) (2,183)
Net movement in funds 20,545 92,324 112,869 19,647 1,972 21,619
Fund balances at 1
August 2019 727,924 1,972 729,896 708,276 708,276
Fund balances at 31
July 2020 748,469 94,296 842,765 727,923 1,972 729,895

2020 2019
Notes
Fixed assets
Investments 13 937,725 889,446
Current assets
Investments 10,963 27,924
Cash at bank and in hand 101,878 7,396
112,841 35,320
Creditors: amounts falling due within
one year 16 (207,801) (194,871)
Net current liabilities (94,960) (159,551)
Total assets less current liabilities 842,765 729,895
Income funds
Restricted funds 17 94,296 1,972
Unrestricted funds 748,469 727,923
842,765 729,895

4 Investments
Unrestricted Unrestricted
funds funds
2020f 2019
f
Income from unlisted investments 7,216
Interest receivable - Non UK programme related loans 48,280 49,113
55,496 49,113
5 Raising funds
Unrestricted Unrestricted
funds funds
2020f 2019f
~Fundraisin
Staff costs 20,880 19,412
20,880 19,412

Charitable
activities
Provision of Provision
of
support support
2020 2019
f
Impairment
of investments		 10,963
Insurance 1,030 1,571
Books &Stationery 210
Telephone
& Internet		 274 305
Computer
Software		 298 319
Travel Expenses 1,463 624
Entertainment
Costs		 554 887
Bank Charges 843 523
Publicity
&Outreach		 472 591
Foreign Exchange Costs 561
15,897 5,591
Grant funding
ofactivities (see note 10)		 26,467 24,668
Share ofsupport costs (see note 11) 7,970 5,940
50,334 36,199
Analysis
by fund
Unrestricted
funds		 37,064 19,931
Restricted funds 13,270 16,268
50,334 36,199
The average monthly
number
ofemployees
during		 the year was:
2020 2019
Number Number
Administrative staff
Employment costs 2020
f		 2019
Wages and salaries 20,880 19,412

Grants payable
Provision of Provision of
support support
2020 2019
E
Grants to institutions;
actb Sierra Leone Foundation 13,270 16,268
Other UK charities 3,500
16,770 16,268
Grants to individuals 9,697 8,400
26,467 24,668
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12 Other gains or losses
Unrestricted Restricted Unrestricted
funds funds funds
2020f 2020f 2019f
Foreign exchange gains (355) 5,303 2,183
13 Fixed asset investments
Fixed asset inves tme nts
Unlisted Programme Total
investments related loans
f
Cost or valuation
At 1 August 2019 287,602 601,844 889,446
Additions
-capitalised		 interest 48,279 48,279
At 31 July 2020 287,602 650,123 937,725
Carrying
amount
At 31 July 2020 287,602 650,123 937,725
At 31 July 2019 287,602 601,844 889,446
Other investments comprise: 2020f 2019
Loans 650,123 601,844

The charity
holds
more th
companies:		 an
50'%%d		 of the sh are
capital,
or otherwise
excercies control
over the following		 are
capital,
or otherwise
excercies control
over the following		 are
capital,
or otherwise
excercies control
over the following
Name of Undertaking Country of Incorporation
Nature ofBusiness
Class
Held
A Call to Business Trading
Resco (London) Limited *		 (UK) England
England		 8 Wales
8 Wales		 Dormant
Dormant		 Ordinary
100'/0
Ordinary
100'/0
The aggregate
capital
and		 reserves and the results of subsidiaries
excluded		 from consolidation
are show
below:
Name of Undertaking
A Call to Business Trading
Resco (London) Limited *		 (UK) Profit/(Loss)
fNil
fNil		 Capital and Reserves
f100
(f532,992)		 Date
As at 31 May 2020
As at 30April 2019

15 Current asset investments
2020 2019
Loan notes 10,963 27,924
16 Creditors: amounts falling due within one year
2020f 2019
Other creditors 201,261 188,331
Accruals and deferred income 6,540 6,540
207,801 194,871

Movement in funds Movement in funds
Income Expenditure Balance at Income Expenditure Balance at
1August 2019 31July 2020
actb Foundation Sierra
Leone 18,240 (16,268) 1,972 110,897 (18,573) 94,296

18 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
fund Fund fund Fund
2020 2020 2020 2019 2019 2019
F F
Fund balances at 31
July 2020 are
represented
Investments		 by: 937,725 937,725 889,446 889,446
Current assets/
(liabilities) (189,256) 94,296 (94,960) (161,523) 1,972 (159,551)
748,469 94,296 842,765 727,923 1 972 729895