OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

E3 INITIATIVE

FINANCIAL STATEMENTS

31 DECEMBER 2022

Charity Number 1092574

E3 INITIATIVE

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

CONTENTS Pages
Reference and administrative information 1
Report of the Trustees 2 – 6
Independent examiner’s report to the Trustees 7
Statement of financial activities 8
Balance sheet 9
Notes to the accounts 10 - 16

E3 INITIATIVE

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 DECEMBER 2022

Status

E3 Initiative is formed under a Declaration of Trust dated 4 March 2002, as amended on 12 May 2009 and then amended by deed on 29 March 2013. E3 Initiative is constituted as an unincorporated trust. Initially named iThemba AIDS Foundation, it is a registered charity, with charity number 1092574. On 10 June 2009, its name changed from iThemba AIDS Foundation to EngageHIV Foundation. On 12 September 2010, EngageHIV Foundation agreed to merge with Entrust Foundation which transferred all its assets and liabilities to EngageHIV Foundation. Its name was changed at the same time to E3 Initiative.

Trustees

The Trustees have the power to appoint new or additional Trustees and to remove any Trustee provided the number of Trustees does not fall below a minimum of three. The Trustees who served during the year and since the year end were as follows:

Trevor Finlay (Chairman) Dr. Monique Andersson Capt. Richard Meryon Andrew Davisson Andrew Fearon Tre Sheppard

Principal Address

Cornerstone, Fyfield Wick, Abingdon OX13 5NB

Independent Examiner

Joshua Kingston BSc ACA, Burton Sweet Limited, Chartered Accountants, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR

Bankers

Danske Bank, PO Box 183, Donegall Square West, Belfast BT1 6JS

1

E3 INITIATIVE TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2022

The Trustees have pleasure in presenting their report and financial statements of the charity for the year ended 31 December 2022.

1. Structure, Governance and Management

1.1. Organisational Structure

E3 Initiative (‘E3 UK’) is formed under a Declaration of Trust dated 4 March 2002. As of 31 December 2022, the organisation had six Trustees who are responsible for directing the affairs of E3 UK and ensuring that it is solvent, well-run, and delivering the charitable outcomes detailed below, under the sub-heading, ‘Charitable Objects and Purpose’. E3 UK has two sister charities, one in South Africa called E3 Initiative South Africa Trust (‘E3 SA’) and a US 501(c) 3 corporation called E3 Initiative Foundation USA (‘E3 US’). Together the three charities form what we call the ‘E3 Group’.

The E3 UK Trustees have delegated responsibility for the day-to-day overall management of E3 to Pastor Sinatra Matimelo who serves as Chief Executive Officer (‘CEO’) of E3 SA. Andrew Davisson, who is also a Trustee of E3 SA, is the Financial Controller for each of the three charities in the E3 Group. E3 UK and E3 US are primarily responsible for fundraising for the E3 Group. To that end, the Trustees are all involved in various fundraising initiatives. In addition, Sarah Smith is a consultant responsible for marketing and communications, reporting to the Trustees.

1.2. Recruitment and Appointment of New Trustees

As stated above, as of 31 December 2022, E3 UK had six Trustees. The Trustees have the power to appoint new or remove existing Trustees if there are at least three Trustees. New Trustees are appointed for a term of three years by a resolution of the Trustees passed at a Special Meeting.

The Trustees identify the need for new Trustees, either because vacancies have arisen through resignations or because there is a need for one or more Trustees with specific skills that are required to help run the charity more effectively.

The Trustees then agree selection criteria based on an agreed view of Trustees’ roles, responsibilities and expected contribution towards E3’s vision. In more detail, we use a skills and experience matrix which identifies areas of strength of the existing Trustees and highlights which skills are required. We then work within our existing contacts and networks to identify potential names and contacts. Up until now we have not formally advertised such positions. Potential Trustees are interviewed by the Trustees and if successful are invited to join the Trustees, subject to references and formal vetting. The vetting process includes confirmation that the candidate is not disqualified from acting as a Trustee, confirmation from the candidate of any existing or potential conflicts of interest as well as seeking the necessary Disclosures from the Criminal Records Bureau. (We have had confirmation from the Charity Commission that in its present modus operandi, E3 is not required to seek such Disclosures from the Trustees but we consider it to be good practice.)

1.3. Note on Public Benefit

This Trustees’ report respects and values the Charity Commission’s requirements for reporting on activities that further our charitable purposes from the perspective of public benefit. We believe we have not only done this but have also fully complied with the duty outlined in the Charities Act 2011, to have paid due regard to the public benefit guidance published by the Charity Commission. E3 Initiative is committed to planning and implementing its charitable activities with this guidance in mind, and to integrating the reporting of public benefit into its reports to the Charity Commission.

All our activities are aimed not only at improving the delivery of care for the pastors and community leaders our local project partners work with, but also at deliberately improving the lives and livelihoods of those in the communities that they serve, regardless of race or gender. In other words, the very nature of E3 means that the charity is designed to serve the wider community.

2

E3 INITIATIVE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2022

1.4. Policies

Child protection and safeguarding policy: The E3 Child Protection Policy aims to safeguard children from any kind of abuse as far as possible and to minimise the risk of abuse where it exists. Our policy is based on the Christian and Social Work values and principles which state that every young person should be valued as a gift from God and therefore needs to have dignity and value and be protected from any form of abuse to enhance the social functioning of that person. This policy applies to children who are beneficiaries of E3 partner projects.

Other safeguarding policies: we have also developed the following policies to enhance the safeguarding of beneficiaries, partner projects and staff/volunteers: Bullying, harassment and whistle-blowing policy Diversity and inclusion policy Safeguarding code of conduct Safeguarding complaints policy

Volunteering policy: E3 has developed a policy to manage requests to volunteer within our organisation or with one of our partner projects through us. It outlines principles of volunteering and the application and selection process.

All E3 policies are available at https://e3initiative.org/safeguarding

Risk Register: E3 uses a risk register to monitor the major risks to its ongoing operations. It looks at the seriousness and likelihood of each risk factor happening to form a risk matrix. The risk matrix is reviewed on an annual basis by the trustees.

1.5. Financial Review and Reserves Policy

In 2022, E3 received voluntary income of £326,374, which is lower than the income of £364,196 received in 2021. However, it should be noted that this does not give a complete picture of the level of funding for the E3 Group because donations are also provided to the US Foundation and the South African Trust.

Total expenditure for 2022 was £227,630 (2021: £441,726). E3 had a surplus for the year of £98,744, which increased total funds from £147,637 on 1 January 2022 to £246,381 as of 31 December 2022.

In 2022, E3 spent £210,081 on charitable activities (92% of total expenditure), most of which constituted grants to E3 partner projects. Another 8% of expenditure was allocated to the costs of generating voluntary income and 1.6% was spent on governance costs.

E3 holds all its assets in cash or cash deposits so no formal investment objectives are set as part of our planning process. There was no investment income received in 2022 mainly because Danske Bank ceased paying interest on their charity accounts in 2021.

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should not be less than £10,000. At this level, the Board of Trustees feels that it would be able to continue the current activities of the charity in the event of a reduction in funding. However, should such an event occur, it would be necessary to review the level of activities or seek replacement funds. At the balance sheet date, the free reserves amounted to £228,330.

3

E3 INITIATIVE TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2022

1.6. Charitable Objects and Purpose

The charitable objects of E3 as set out in its governing document are as follows:

a) to promote and advance the Christian religion

b) the relief of financial hardship of orphans due to HIV/AIDS

c) the relief of sickness due to HIV/AIDS

d) to advance the sexual education of persons living in communities affected by HIV/AIDS.

The sole purpose of E3 is to serve and transform local communities, but to do so through local communitybased churches and Christian organisations at the grassroots. This faith-based approach seeks to empower and develop the spiritual, the social and the economic health of needy communities in Southern Africa.

2. Charitable Activities and Achievements for 2022

E3 UK supports work in Malawi, Zimbabwe and Zambia directly. For the work in South Africa, Lesotho and eSwatini, E3 UK supports the work indirectly by transferring the money to E3 SA. The numbers detailed below reflect both the direct and indirect activities of E3 UK.

In the year 2022, E3 Initiative worked with 29 partner projects in 6 countries in Southern Africa: The Kingdom of eSwatini, Lesotho, Malawi, South Africa, Zambia and Zimbabwe. Despite the social and economic challenges caused by Covid-19, E3 and its partner projects directly supported 40,180 people and indirectly supported over 173,200 others. E3’s work focused on 6 key programmes:

Leaders’ training: We directly trained 1,570 leaders, including church pastors, traditional leaders and political leaders. Topics included Gender-based Violence, Church Leadership, Marriage and HIV and AIDS. E3’s also taught God’s word on forgiveness and reconciliation to 2,740 prisoners in Lesotho, Malawi and Zambia, some of whom were on death row. A total of 4,310 people benefited through the E3 Leaders training programme across Southern Africa.

Back to School programme: E3 supported a total of 9,120 orphaned and vulnerable children to attend school and thrive in Malawi, South Africa Zambia. E3 provided uniforms, shoes, school bags and sanitary pads, as well as meals for those that cannot afford to bring a packed lunch.

HIV and AIDS support: E3 and its partners reached 15,380 people through HIV awareness programmes, HIV testing and counselling and provision of food. The focus of our training was adherence to medication. Some people were enabled to access their medication more easily at health centres in Malawi and South Africa. In Zambia and Lesotho, we continued to provide meals to people on Antiretroviral therapy (ART).

Improving Livelihoods: The E3 livelihoods programme seeks to create self-sustainability among the people we serve, including refugees and people living with HIV. E3 and its partner projects run Microfinance and Self-Help Groups that create an opportunity for community people to save money as a group and access loans from group savings. The loans help group members to start small businesses, farming and improve their livelihoods. In 2022, 3,450 people were part of the small savings groups.

Advocacy Against Sexual and Gender-based Violence: E3 has continued to engage with various stakeholders as we seek to create awareness on the scourge of sexual and gender-based violence. E3 and its partners facilitated to bring change and protect those who are vulnerable. 3,170 community people attended workshops facilitated by E3 partners, some of which were in schools.

Awareness on substance abuse and addiction: E3 and three of its partner projects in South Africa and Zimbabwe have initiated various activities to address the growing problem of substance abuse and addiction in schools and amongst homeless people. We facilitated workshops in 6 schools and provided

4

E3 INITIATIVE TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2022

meals and counselling to addicts living on the streets, reaching 4,750 people. This programme has been well received by head teachers, teachers, church leaders and government officials. We have received requests to extend the programme to other schools, but we currently do not have the financial and human resources to do this.

E3 Initiative Plans for 2023

In 2023, E3 Initiative will work with 35 partner projects in the Kingdom of eSwatini, Lesotho, Malawi, South Africa, Zambia and Zimbabwe. We hope to raise £330,000. Working alongside our partner projects, we plan to directly impact 46,640 people and indirectly reach 180,000. To achieve our goals, E3 and its partners will run 7 programmes, namely: Infrastructure Development, Leader’s Training, Back to School, HIV and AIDS Support, Improving Livelihoods, Advocacy Against Sexual and Gender-based Violence and Awareness on Substance Abuse and Addiction.

It is important to state that the E3 staff team, our 2022 financials, fundraising income and reserves policy were not affected by Covid-19.

5

E3 INITIATIVE TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2022

3. Statement of Trustees Responsibilities for the Annual Accounts

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report and the financial statements have been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities”.

Signed on behalf of the Trustees by:

Trevor Finlay Chair of the Trustees

14 April 2023

Approved by the Trustees on ……………………………………….

6

E3 INITIATIVE INDEPENDENT EXAMINER’S REPORT

YEAR ENDED 31 DECEMBER 2022

Independent examiner’s report to the trustees of E3 Initiative

I report to the trustees on my examination of the accounts of E3 Initiative (the Charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Charity 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 Charity’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 Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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:

  1. accounting records were not kept in respect of the Charity 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 requirements concerning the form 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.

Joshua Kingston BSc ACA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

14 April 2023 Date: …………………………

7

E3 INITIATIVE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations
2
Investments
Total income
Expenditure on:
Raising funds
3
Charitable activities
4
Total expenditure
7
Total funds at start of year
12
Total funds at end of year
12
Net income/(expenditure) and
net movement in funds		 Unrestricted
Funds
£
322,721
-
322,721
17,549
210,081
227,630
95,091
133,239
228,330		 Restricted
Funds
£
3,653
-
3,653
-
-
-
3,653
14,398
18,051		 Total Funds
2022
£
326,374
-
326,374
17,549
210,081
227,630
98,744
147,637
246,381		 Total Funds
2021
£
364,196
261
364,457
14,149
427,577
441,726
(77,269)
224,906
147,637

The Charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The comparative funds are set out in note 14.

The notes on pages 10 to 16 form part of these financial statements See note 14 for fund-accounting comparative figures

8

E3 INITIATIVE

BALANCE SHEET

AS AT 31 DECEMBER 2022

Note
Current assets
Debtors
10
Cash at bank and in hand
Liabilities
Creditors : amounts falling
due within one year
11
Net current assets
Net assets
FUNDS
Unrestricted funds
General funds
13
Restricted funds
13
Total funds		 2022
£
17,331
306,990
324,321
(77,940)
246,381
246,381
228,330
18,051
246,381		 2021
£
4,580
218,993
223,573
(75,936)
147,637
147,637
133,239
14,398
147,637

14 April 2023 These financial statements were approved by the Trustees on ....................... and are signed on their behalf by:

Trevor Finlay Chair of Trustees

The notes on pages 10 to 16 form part of these financial statements

9

E3 INITIATIVE NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

a) Accounting convention

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity is a public benefit entity as defined under FRS102. The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern.

b) Income

Income from donations is included in income when these are receivable, except as follows:

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods; II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Investment income is included on a receivable basis.

c) Expenditure

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.

Raising funds

Raising funds comprise the costs associated with attracting that income, including fundraising costs and the cost of raising awareness of partnership projects and their needs.

Grants payable

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised when the conditions attaching are fulfilled.

Charitable Activities

Charitable activities include costs incurred directly in support of expenditure on the objects of the charity and 100% of the support costs.

10

E3 INITIATIVE NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1 Accounting policies (continued)

Governance costs

Governance costs include the costs of governance arrangements which relate to the general running of the charitable activities. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include any costs associated with the strategic management of the charity's activities. Governance costs are included within support costs.

Foreign currency transactions

Transactions in foreign currencies are recorded at the average rate of exchange for the year. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

d) Tangible fixed assets

Fixed assets are held at cost less accumulated depreciation. Assets costing less than £2,000 are not capitalised.

e) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

f) Cash and cash equivalents

Cash at the bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

g) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

h) Fund accounting

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in note 12 of the financial statements.

11

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

2 Income from: Donations

Donations
Gift aid received
Donations
Gift aid received
3
Expenditure on: Raising funds
Fundraising activities		 Unrestricted
Funds
£
319,090
3,631
322,721
Unrestricted
Funds
£
356,561
2,953
359,514		 Restricted
Funds
£
3,653
-
3,653
Restricted
Funds
£
4,682
-
4,682
Total Funds
2022
£
17,549
17,549		 Total Funds
2022
£
322,743
3,631
326,374
Total Funds
2021
£
361,243
2,953
364,196
Total Funds
2021
£
14,149
14,149

All expenditure on raising funds in the current and prior year was unrestricted.

4 Expenditure on: Charitable activities

Partnership projects
Partnership projects		 Grant funding
Support
of activities
Costs
(Note 5)
(Note 6)
£
£
205,960
4,121
205,960
4,121
Grant funding
Support
of activities
Costs
(Note 5)
(Note 6)
£
£
424,100
3,477
424,100
3,477		 Total Funds
2022
£
210,081
210,081
Total Funds
2021
£
427,577
427,577

12

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

5 Analysis of grants

To institutions:
E3 Initiative South Africa
Starfish Malawi
Sunrise Health Ministries
Word Alive Ministries
Centre for Christian Missions
Mobile Mission Maintenance
Family Life Projects Trust
Scripture Union Zimbabwe
Samaritan School
Bethel Baptist Church
Fishers, Trainers and Senders Ministries
Bridgepoint Vineyard Christian Fellowship Church
Grant commitments amended in the year comprise:
Samaritan School
All grants paid in the current and prior year were from unrestricted funds.		 2022
£
100,000
6,000
39,860
7,300
15,500
4,500
9,500
10,000
4,000
7,800
4,000
3,000
(5,500)
205,960		 2021
£
350,000
5,500
8,600
9,000
12,500
6,500
10,500
11,500
3,000
7,000
-
-
-
424,100

6 Support costs

Office and general costs
Foreign currency exchange gains/(losses)
Governance costs
All support costs in the current and prior year was unrestricted.
Net income/(expenditure) for the year
This is stated after charging:
Independent examiner's remuneration:
- for independent examination
- for preparation of statutory accounts		 Total
2022
£
105
484
3,532
4,121
2022
£
1,155
825		 Total
2021
£
91
1,348
2,038
3,477
2021
£
1,015
725

7 Net income/(expenditure) for the year

During the current or prior year, no Trustees waived expenses relating to attending meetings.

2 Trustees (2021: 3), key management personnel and other related parties made donations to the charity totalling £2,825 (2021: 5,230) during the year.

13

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

8 Staff costs and related party transactions

There were no staff employed by the charity in the current or proceeding year.

The Trustees consider themselves and the CEO of E3 SA to be the key management team. Total key management remuneration for the year amounted to £Nil. (2021 - £Nil).

There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.

9 Taxation

The charity is exempt from corporation tax on its charitable activities.

10 Debtors: amounts falling due within one year

Gift aid recoverable
Sustainability loans
11 Creditors: amounts falling due within one year
Accruals
Grants payable
Reconciliation of grants payable
Commitments brought forward
Net commitments made in the year
Previous commitments amended
Payments during the year
Commitments carried forward		 2022
£
3,631
13,700
17,331
2022
£
1,980
75,960
77,940
2022
£
74,100
207,460
(1,500)
(204,100)
75,960		 2021
£
3,580
1,000
4,580
2021
£
1,836
74,100
75,936
2021
£
65,500
424,100
-
(415,500)
74,100

14

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

12 Movement in funds

For the year ended 31 December 2022

At 1 Jan
2022
£
Restricted funds
Lulisandla
1,100
Back to school
13,298
14,398
Unrestricted funds
General funds
133,239
133,239
Total funds
147,637
For the year ended 31 December 2021
At 1 Jan
2021
£
Restricted funds
Lulisandla
700
Back to school
9,016
9,716
Unrestricted funds
General funds
215,190
215,190
Total funds
224,906		 Income
£
400
3,253
3,653
322,721
322,721
326,374
Income
£
400
4,282
4,682
359,775
359,775
364,457		 Expenditure
£
-
-
-
(227,630)
(227,630)
(227,630)
Expenditure
£
-
-
-
(441,726)
(441,726)
(441,726)		 Transfers
£
-
-
-
-
-
-
Transfers
£
-
-
-
-
-
-		 At 31 Dec
2022
£
1,500
16,551
18,051
228,330
228,330
246,381
At 31 Dec
2021
£
1,100
13,298
14,398
133,239
133,239
147,637

Running costs of charity are funds donated to cover expenditure of the charity incurred during the year, with the exception of grant funding of partnership projects.

Restricted funds

The Lulisandla fund has arisen as a result of funds being donated for the purpose of supporting orphans.

The Back to school fund is a programme supporting the purchase of school clothes and stationery for children in South Africa.

15

E3 INITIATIVE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

13 Analysis of net assets between funds

Unrestricted Funds
General Funds
Restricted Funds
Lulisandla
Back to school
Prior year comparatives
Unrestricted Funds
General Funds
Restricted Funds
Lulisandla
Back to school		 Current
assets
£
306,270
1,500
16,551
324,321
Current
assets
£
209,175
1,100
13,298
223,573		 Current
liabilities
£
(77,940)
-
-
(77,940)
Current
liabilities
£
(75,936)
-
-
(75,936)		 Total
2022
£
228,330
1,500
16,551
246,381
Total
2021
£
133,239
1,100
13,298
147,637

14 Statement of Financial Activities comparative figures

Income from:
Donations
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure) for the year
and net movement in funds
Total funds at start of year
Total funds at end of year		 Unrestricted
Funds
£
359,514
261
359,775
14,149
427,577
441,726
(81,951)
215,190
133,239		 Restricted
Funds
£
4,682
-
4,682
-
-
-
4,682
9,716
14,398		 Total Funds
2021
£
364,196
261
364,457
14,149
427,577
441,726
(77,269)
224,906
147,637

16