**Charity Registration No. 1089505**
**Company Registration No. 04247153 (England and Wales)**
## **A CALL TO BUSINESS**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JULY 2022 PAGES FOR FILING WITH REGISTRAR**
## **A CALL TO BUSINESS**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|P N Szkiler|
|---|---|
||A R Taylor|
||M D Gianni|
||M C Christenson|
||I R Tanner|
||L A Thompson|
||P G Wenham|
||B D Corley|
|**Secretary**|B Harber|
|**Charity number**|1089505|
|**Company number**|04247153|
|**Registered office**|6th Floor|
||60 Gracechurch Street|
||London|
||EC3V 0HR|
|**Independent examiner**|Matthew Burge (FCA)|
||Beavis Morgan LLP|
||82 St John Street|
||London|
||EC1M 4JN|
## **A CALL TO BUSINESS**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 17|
## **A CALL TO BUSINESS**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 JULY 2022**_
The trustees present their report and financial statements for the year ended 31 July 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Structure, governance and management**
The charity is controlled by its governing document, a trust deed, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
A Call to Business was established as a registered charity on 27 November 2001 and a limited company on 5 July 2001. The Trustees have met regularly during the year to review progress and activities.
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
P N Szkiler A R Taylor M D Gianni M C Christenson I R Tanner L A Thompson A J Proudfoot P G Wenham B D Corley
N J Szkiler resigned as a director on 3 March 2021 but remains a trustee. A J Proudfoot resigned as a director on 8 July 2022.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **Affiliation**
The charity is not affiliated to any other charity.
## **Trustee Induction and Training**
There is no formal induction and training for Trustees. However, the existing Trustees inform a potential Trustee about the charity's mission before any appointment with a view to the potential Trustee helping to achieve the set goals and objectives of the charity. At least two Trustees' meetings are held in a year at which the Trustees are allowed to raise and discuss various issues.
## **Organisational Structure**
The Trustees of the Charitable Company, are legally responsible for the overall governance and control and they come together at full Board meetings at least twice a year. Trustees are appointed for an unspecified period, any vacancies being filled by the selection and appointment of suitable persona by the Trustees.
## **Relationships with related parties**
The Charity has a non-charitable subsidiary which is a dormant company.
## **Risk Management**
The Trustees continuously seek to identify or review major risks to which the charity may be exposed on an ongoing informal basis, documenting them as appropriate. Once identified, systems and procedures for monitoring and mitigating risks are put into place.
- 1 -
## **A CALL TO BUSINESS**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **Objectives and activities**
The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit and in deciding what activities the Charity should undertake.
The Charitable Company's Objectives, as set out in its Memorandum and Articles of Association, are the promotion of faith in the Lord Jesus Christ in the marketplace and, in particular:
- to provide support to Christians working in the business sector through the provision of discipleship training courses, networking opportunities and by promoting the establishment of prayer groups;
- to organise talks, seminars and other evangelistic events aimed at making known the gospel of Jesus Christ to business people; and
- to promote the importance of family and accordingly to encourage businesses to support working practices which enable individuals to strike a healthy balance.
To provide advice, resources and services to those affected by social and economic circumstances including the set up or administration of any educational establishments.
To develop and maintain development projects in small scale economic developments including the establishment of a credit union or other microfinance initiatives.
To establish mentoring programmes to equip people for life and to provide programmes to help the reintegration of marginalised and excluded peoples back into society.
To facilitate encourage and empower men and women into work through the provision of various support initiatives.
To develop, equip and empower people to be people of integrity in order to face the challenges associated with their roles in society.
## **Achievements and performance**
A Call to Business has continued to network with Christian business people seeking to apply their faith in and through business. ACTB has continued to provide a forum for entrepreneurs, giving opportunity for those starting out in business and others who work on their own to support each other and share experiences and expertise. A scholarship has been established to honour a former employee of ACTB and £20,000 has been raised for this will be allocated to support and grow the skillsets of local entrepreneurs in the UK.
The charity continues to provide mentoring and support to businesses and a rural community programme in Sierra Leone. In early 2020 a large grant was received by the organisation to further develop its rural community development project in Rogbere, Sierra Leone. This funding has now been largely deployed to expand the school facilities, install a library, science lab and computer club alongside the creation of accommodation for maturing orphaned children and the establishing of a football academy. The focus of the charity remains to fund the ongoing work in Sierra Leone and much effort is being made to stimulate donor funding from the UK for this purpose.
## **Financial review**
Overall position:
- Total incoming resources of £156,444 (2021: £189,213) - Total outgoing resources of £175,368 (2021: £199,197); and
- Funds of £401,597 (2021: £828,034) at the balance sheet date.
- 2 -
## **A CALL TO BUSINESS**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **Resources Policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The charity's unrestricted, free reserves (after excluding investments and liabilities that are not expected to fall due in 6 months) are (£22,641). As this is not sufficient to support the charity to meet the level of expenditure required to maintain the basic operation of the charity for between three and six months, financial support will be provided by Truestone Impact Investment Management Limited, a company owed by one of the Trustees, as and when necessary to ensure the charity is able to continue to operate and carry out the charity’s current activities.
The trustees' report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board of trustees
P N Szkiler Trustee Dated: 27 July 2023
- 3 -
## **A CALL TO BUSINESS**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF A CALL TO BUSINESS**
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of A Call to Business (‘the charitable company’) for the year ended 31 July 2022 which comprise the Statement of Financial Activities, the Balance Sheet, and the notes to financial statements, including a summary of significant accounting policies.
This report is made solely to the charity’s trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘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.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.
## **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:
- accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or
- the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters on connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Matthew Burge FCA**
Beavis Morgan LLP 82 St John Street London EC1M 4JN
Dated: 27 July 2023
- 4 -
## **A CALL TO BUSINESS**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 JULY 2022**_
|**Unrestricted**
**Restricted**
**Total**
Unrestricted
Restricted
**funds**
**funds**
funds
funds
**2022**
**2022**
**2022**
2021
2021
**Notes**
**£**
**£**
**£**
**£**
**£**
**Income from:**
Voluntary income
**3**
3,386
145,840
149,226
8,751
128,452
Investments
**4**
7,218
-
7,218
52,010
-
**Total income**
10,604
145,840
156,444
60,761
128,452
**Expenditure on:**
Raising funds
**5**
5,001
-
5,001
18,396
-
Charitable activities
Provision of support
**6**
28,228
142,139
170,367
16,327
164,474
**Total charitable expenditure**
28,228
142,139
170,367
16,327
164,474
**Total resources**
**expended**
33,229
142,139
175,368
34,723
164,474
Net gains/(losses) on
investments
**12**
(408,445)
-
(408,445)
-
-
**Net (expenditure)/income for**
**the year/**
**Net (outgoing)/incoming**
**resources**
(431,070)
3,701
(427,369)
26,038
(36,022)
**Other recognised gains and losses**
Other gains or losses
**13**
932
-
932
(4,747)
-
**Net movement in funds**
(430,138)
3,701
(426,437)
21,291
(36,022)
Fund balances at 1
August 2021
769,760
58,274
828,034
748,469
94,296
**Fund balances at 31**
**July 2022**
339,622
61,975
401,597
769,760
58,274|Total
2021
**£**
137,203
52,010
189,213
18,396
180,801
180,801
199,197
-
(9,984)
(4,747)
(14,731)
842,765
828,034|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **A CALL TO BUSINESS**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2022**_
|||**2022**||**2021**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Investments|**14**||581,288||989,733|
|**Current assets**||||||
|Cash at bank and in hand||48,887||63,224||
|**Creditors: amounts falling due within**||||||
|**one year**|**16**|(228,578)||(224,923)||
|Net current liabilities|||(179,691)||(161,699)|
|**Total assets less current liabilities**|||401,597||828,034|
|**Income funds**||||||
|Restricted funds|**17**||61,975||58,274|
|Unrestricted funds|||339,622||769,760|
||||401,597||828,034|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2022.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 27 July 2023
P N Szkiler **Trustee**
## **Company Registration No. 04247153**
- 6 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **1 Accounting policies**
## **Charity information**
A Call To Business is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The financial statements have been prepared on the basis that the fundamental accounting concept of going concern is applied. The Charity is expected to receive sufficient funds that will allow it to continue its operations for a period of at least 12 months from the approval date of these financial statements.
On the basis of the foregoing the Trustees consider that the going concern concept continue to be appropriate and has therefore been applied.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grant income is recognised once unconditional entitlement to the funds has passed to the charity, i.e. at thelater of receipt or the point that performance related conditions are met. If such conditions are partially fulfilled at the balance sheet date, such income is deferred and recognised as a creditor on a systematic basis consistent with the completion of performance related conditions.
## **1.5 Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
- 7 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Fixed asset investments**
Unlisted equity investments are initially measured at transaction price and are subsequently measured at fair value at each reporting date. Fair value is determined by reference to the most recent transactions of the entities equity. Increases in fair value are recognised in other comprehensive income, decreases in fair value are recognised in profit and loss. Transaction costs are expensed to or as incurred. This treatment is permitted by FRS 102 and has been adopted to provide a true and fair view. It represents a departure from Companies Act 2006. Where there is deemed to be no reliable fair value, investments are carried at historical cost less impairment.
Debt investments held by the company are initially recognised at transaction price and subsequently at amortised cost.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand and deposits held at call with banks.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and loans from related parties, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.9 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 8 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Foreign exchange**
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
## **1.11 Group accounts**
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Voluntary income**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
3,386
145,840
Grants receivable
-
-
3,386
145,840
**Grants receivable for**
**core activities**
King Baudouin
Foundation
-
-
-
-|**Total**
Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
149,226
8,751
22,710
-
-
105,742
149,226
8,751
128,452
-
-
105,742
-
-
105,742|Total
2021
£
31,461
105,742|
|---|---|---|
|||137,203|
|||105,742|
|||105,742|
- 9 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **4 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Income from unlisted investments|7,216|-|
|Interest receivable - Non UK programme related loans|2|52,010|
||7,218|52,010|
|**Raising funds**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Fundraising|||
|Staff costs|5,001|18,396|
||5,001|18,396|
## **5 Raising funds**
- 10 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2022**_
## **6 Charitable activities**
||**Provision of**|
**Provision of**|
|---|---|---|
||**support**|**support**|
||**2022**|**2021**|
||**£**|**£**|
|Impairment of investments|-|(3,474)|
|Project expenditure (restricted)|142,139|164,474|
|Insurance|988|842|
|Books & Stationery|-|188|
|Telephone & Internet|-|160|
|Computer Software|601|478|
|Travel Expenses|813|-|
|Bank Charges|815|871|
|Publicity & Outreach|7,158|459|
|Repairs & renewals|-|40|
|Sundry expenses|288|-|
||152,802|164,038|
|Grant funding of activities (see note 10)|400|1,400|
|Share of support costs (see note 11)|17,165|15,363|
||170,367|180,801|
|**Analysis by fund**|||
|Unrestricted funds|28,228|16,327|
|Restricted funds|142,139|164,474|
||170,367|180,801|
## **7 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|Administrative staff
**Employment costs**
Wages and salaries|**2022**
**Number**
1
**2022**
**£**
5,001|**2021**
**Number**
1|
|---|---|---|
|||**2021**
**£**
18,396|
There were no employees whose annual remuneration was £60,000 or more.
- 11 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **8 Description of charitable activities**
## Provision of support
The activity of the charity is the promotion of faith in the Lord Jesus Christ in the marketplace and, in particular to provide support for Christians working in the business sector.
## **9 Trustees**
The Charity did not pay remuneration to any Trustee or key management personnel or reimburse expenses during the year (2021: £nil).
## **10 Grants payable**
||**Provision of**|Provision of|
|---|---|---|
||**support**|support|
||**2022**|2021|
||**£**|£|
|Grants to institutions:|||
|Resco|-|800|
|Grants to individuals|400|600|
||400|1,400|
- 12 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2022**_
## **11 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
7,632
-
Legal and professional fees
160
-
Management fees
8,400
-
Secretarial Fees
973
-
17,165
-
Analysed between charitable activities:
Provision of support
17,165
-|**2022**
Support
costs
Governance
costs
**£**
£
£
7,632
13,836
-
160
781
-
8,400
-
-
973
746
-
17,165
15,363
-
17,165
15,363
-|2021
**Basis of allocation**
£
13,836
Based on proportion of time spent on each
charitable activity.
781
Based on proportion of time spent on each
charitable activity.
-
Based on proportion of time spent on each
charitable activity.
746
Based on proportion of time spent on each
charitable activity.
15,363
15,363|
|---|---|---|
- 13 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2022**_
## **12 Amounts written off investments**
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Amounts written off investments|(408,445)|-|
In the current year, the charity novated the loan receivables (debt investment) of £702,133 from Joule Africa Limited against Blue International Holding Limited 45,094 B Ordinary shares at total value £293,688 on 30 May 2022.
## **13 Other gains or losses**
|**Other gains or losses**||||
|---|---|---|---|
||**Unrestricted**|**Restricted**|Unrestricted|
||**funds**|**funds**|funds|
||**2022**|**2022**|2021|
||**£**|**£**|£|
|Foreign exchange gains or losses|(932)|-|4,747|
## **14 Fixed asset investments**
||**Unlisted**|**Programme**|**Total**|
|---|---|---|---|
||**investments**|**related loans**||
||**£**|**£**|**£**|
|**Cost or valuation**||||
|At 1 August 2021|287,600|702,133|989,733|
|Additions|293,688|-|293,688|
|Disposals|-|(702,133)|(702,133)|
|At 31 July 2022|581,288|-|581,288|
|**Carrying amount**||||
|At 31 July 2022|581,288|-|581,288|
|At 31 July 2021|287,600|702,133|989,733|
|||**2022**|**2021**|
|Other investments comprise:||**£**|**£**|
|Loans||-|702,133|
In the current year, the charity novated the loan receivables (debt investment) of £702,133 from Joule Africa Limited against Blue International Holding Limited 45,094 B Ordinary shares at total value £293,688 on 30 May 2022.
- 14 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_
## **15 Subsidiaries**
The charity holds more than 50% of the share capital, or otherwise excercies control over the following companies:
**Name of Undertaking Country of Incorporation Nature of Business Class Held** A Call to Business Trading (UK) England & Wales Dormant Ordinary 100%
The aggregate capital and reserves and the results of subsidiaries excluded from consolidation are shown below:
|**Name of Undertaking**
**Profit/(Loss)**
**Capital and Reserves**
**Date**
A Call to Business Trading (UK)
£Nil
£100
As at 31 May 2022
**Creditors: amounts falling due within one year**
**2022**
**£**
Trade creditors
613
Other creditors
219,025
Accruals and deferred income
8,940
228,578|**2021**
**£**
406
217,977
6,540|
|---|---|
||224,923|
## **16 Creditors: amounts falling due within one year**
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## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2022**_
## **17 Restricted funds**
The funds of the charity include restricted funds comprising the following projects for which funds are held on trust for specific purposes:
|||||**Movement in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|---|---|---|
|||**Balance at**||**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**|**Balance at**|
|||**1 August 2020**||**resources**|**expended**|**1 August 2021**|**resources**|**expended**|**31 July 2022**|
||||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|a|actb Foundation Sierra Leone|94,296||105,982|(164,474)|35,804|100,260|(93,582)|42,482|
|b|Scholarship||-|17,470|-|17,470|300|(20,000)|(2,230)|
|c|Rogbere Meals||-|500|-|500|28,033|(7,397)|21,136|
|d|Healthcare Funds||-|4,500|-|4,500|1,660|(6,160)|-|
|e|Polish foundation||-|-|-|-|13,487|(15,000)|(1,513)|
|f|Ukraine crisis||-|-|-|-|2,100|-|2,100|
|||94,296||128,452|(164,474)|58,274|145,840|(142,139)|61,975|
The following work was carried out by the charity with restricted funds during the year:
a = A Call to Business receives donations to be made to the foundation which manages a 60-acre rural community development area with junior and senior secondary schools, an orphanage and two commercial businesses on the site. Funding is provided by private UK individuals and UK and international grant makers to support operational costs such as feeding 350 students every day, providing equipment for the schools and orphanage and in improving the infrastructure on site.
b = A Call to Business has received donations that will be used to fund a scholarship in honour of a former employee of the charity. This funding will be used to empower the specific development of entrepreneurs in the UK.
c = A Call to Business has received donations that will be used to fund meals for the students and orphans living on site in Rogbere, Sierra Leone.
d = A Call to Business has received donations that will be used to fund healthcare for individuals requiring economic support in the UK and/or Sierra Leone.
e = A Call to Business has received donations that will be used to fund the Polish foundation.
f = A Call to Business has received donations that will be used to fund healthcare for individuals requiring economic support in the UK and/or Ukraine.
- 16 -
## **A CALL TO BUSINESS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 JULY 2022**_
|**18**|**Analysis of net assets between funds**|**Analysis of net assets between funds**||||||
|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total|
|||**fund**|**Fund**||fund|Fund||
|||**2022**|**2022**|**2022**|2021|2021|2021|
|||**£**|**£**|**£**|£|£|£|
||Fund balances at 31|||||||
||July 2022 are|||||||
||represented by:|||||||
||Investments|581,288|-|581,288|989,733|-|989,733|
||Current assets/(liabilities)|(241,666)|61,975|(179,691)|(219,733)|58,034|(161,699)|
|||339,622|61,975|401,597|770,000|58,034|828,034|
## **19 Related party transactions**
At the balance sheet date, the Charity owed a trustee, P N Szkiler £42,406 (2021: £42,406).
The Charity owed £149,843 (2021: £147,743) to Truestone Impact Investment Management Limited, a company in which P N Szkiler has majority control, at the balance sheet date.
The Charity owed £3,400 (2021: £3,400) to Truestone Africa Limited, a company in which several trustees are shareholders, at the balance sheet date.
At the balance sheet date, the Charity owed a trustee, I Tanner £23,750 (2021: £23,750).
At the balance sheet date, the Charity owed it's subsidiary undertaking, A Call To Business Trading (UK) Limited, £100 (2021: £100).
The Charity owed £nil (2021: £692) to Truestone Impact Consulting Limited, a company in which P N Szkiler has majority control, at the balance sheet date. Truestone Impact Consulting Limited charged the Charity management fees of £8,400 (2021: £nil) in the year.
During the year donations from trustees totalling £1,000 (2021: £5,000) were received.
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