2021-12-31-accounts

TO WHO IT MAY CONCERN; RE : COVENANT HOME TRUST.

As required please find the report for Covenant Home Trust for the year 2022.

It has been a very difficult year for everyone due to a lot of challenges we are all facing as a result of Inflation , the war in Ukraine and the mitigating factors the home faces due to financial Implications , we couldn’t have achieved the success we have had if it wasn’t for the partnership of our sponsors who have contributed massively despite the fact that they are facing rising bills to their entire house holds a big thank you to them.

The board members have worked tirelessly to very high standards and made sure that every child mattered and that they receive all requirements needed both at home and in School as there is significant progress that shows what they have achieved in education , in their day to day life styles . Sadly, we had to make arrangements to pay school fees in instalments, due to a lack of funds. In 2020 we received £40,963 in donations but that was down to £33,315 in 2021 so some hard decisions had to be made, the girls had to be moved into Mambelo instead of in a separate unit to reduce rents and the Social Worker had to be let go.

We have Children ranging from 2 to 26 years both boys and girls, they have all been looked after from a small age and the progress in their lives has been good ,we have a duty of care for each one of them.

We have a continuous plan for older children to exit the home after completing their studies through an appropriate financial facilitation in line with the Children and Department laws and rules governing the Childrens Home and Non Government Organisations.

We will continue to serve and work hard for the Children in our care in years to come.

Regards,

Eddie Kasibante .

Chair Person.

COVENANT COMMUNITY BASED ORGANIZATION PROJECT AUDIT FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Owenga & A550Cl3tes Certified Public Accountants IKI P. O. Box 2553 - 40100. KISUMU Cell.. [phone] [phone]

Covenani Community Based Organizarion Annual Report and Financial Repor¢for ihe year Ended 31 December 2021 Con¢ents Page Board information Board report Auditors report Income statement Notes to financial statement Detailed operation5 January- December 2021 Operations July 2021- December 2021 Operatlons January 2020- December 2020

Page I Covenant Community Based Organizafion Annual Reporl and Financial Reportfor rhe year Ended 31 December 2021 Organization's Information: Covenant Community Based Organizalion is a registered under The Stste Department of Labour. Social Security and Services registration No. 34091 On 17th May 2013. Principal Activities To support education of unde￿rivileged children and youth to access education and to acquire skills that can enable them defend for their livelihood in future. Board Members The members of the Board at the time of signing this report were: l ) Debra Asewe Chairperson 2) B¢nard Olubero Assi. Chair 3) Kennedy Okoih Secretary 4) Antony Gondi Member 5) Kenneih Devines Member 6) Bealrice Akoth Member 7) Winnie Achieng Member 8) Victor Devines Member Independent auditors: Owenga & Associates Certified Public Accountanls (K) Hamilton House, I st Floor P. O. Box 2553- 40100 Kisumu, Kenya

Covenap71 Community Based Organiza¢ion Reporl and Financial Reportfor the year Ended JI December 2021 Page 2 The Management Board of Covenant Community B&sed Organization is required lo prepare a financial report for the applicabl¢ reporting period. This fllwcial report must give a true and fair view of the state of affairs of the organization as at th¢ end of that period and of the operating results for the period. The donors also require Covenant Community Based Organization lo keep proper accounting records which disclose. wilh reasonable accuracy. the financial position of the organizalion. They are resFK)nsible for safeguarding the assets of the organization. The Management Board accepts responsibilily for the annual financial statements, which have been prepared using appropriate accounting polici¢s supported by reasonable and prudent judgmenls and estimates, in conformity with ihe donors reporting requirements and Covenant CoTnmunity Based Organization financial reporting frdmework. The Management Board is of (he opinion Ihal the financial statements give a true and fair view of the state of the fjnancial slalements of the organization and ils operating results. The Management Board further accepis responsibility for the maintenance of accounting records which may be relied upon in the preparalion of financial statements, as well as adequate systems of internal financial control. The financial report set out on page 4 was approved by the managemeni board on 1 Q..10:.2022 and were signed on its behalf by.. Chairman..... Treasurer..

Page 3 Owenga & Associates Certified Public Accountants (K) P. O Box 2553-40100 KISUMU Phone: [phone] INDEPENDENT AUDITORS, REPORT We have audited the expendiiure and revenue as stated in the Financial Report of the Covenant Communily Based Organization for the year ended 31 December 2021 which is sel out on page 4. Audi¢ responsibility Our responsibility IS to express an opinion on these financial statements based on our audil. We conducted our audit in accordance with International Standards on Audiling 800 (ISA 800). This standard requires that we plan and perfomi the audit to obtain reasonable assurance whether the slatemenl of income and expenditure is free from material misstatement. An audit involves perforniing procedures to obiain audil evidence about the amounts and disclosures in ihe financial slalemenls. An audit also includes assessing th¢ accounting principles used and significant estimates made by management, as well as evaluating the overall slalements presenlalion. Opinion In our opinion. the financial report presents fairly. in all material respecis, Ihe expenditure incurred and income received for ihe organization during the year ended 31 December 2021 and corresponds to the organizaiion's accounting records. Distribution and Use Covenant Community Based Organization have requested this report and it is inlended solely for their inforniation and use and that of iheir donors. QWEPI O ASSOCIATE5 P, 0. 80X 2553 40100 Kisuf*lU Certified Public Aceountants (K) KISUMU f .0.￿ce£ll2022

Page 4 Covenant Copnmunity Based Orgartizalion Annual Repor¢ andFinarycial Reporifor iheyear Ended 31 December 202] INCOME STATEMENT 2021 Kes 4,653,747 2020 Ke5 5,756,729 INCOME Grant EXPENDITURE Renl Food expenses C. Hse Family unit Water & electricity Transport & travelling School needs School fees Vocational needs Salaries Entertainrnent Communicalion Otrice slalionery Sponsorship Energy refill & charcoal Repairs & maintenance Transactlon cost Household items Medical Personal grooming Assistance Misc¢llan¢ous exp Audit License5 & permits Tot41 expenditure 457,200 855.847 422,606 127.213 543.400 433,247 577.812 870,702 993,598 391.815 147.202 450.182 306,252 344,991 29,149 467.920 15.700 52,609 27,221 511,501 140.578 62.863 18.409 191,826 408,862 51.047 172.835 73.462 20,000 500 5,749,224 294.000 14.145 57,945 25,255 471,197 113.450 17,580 37.854 8,578 32,180 31.110 109,736 40,000 5,500 4,675,855 FUND BALANCE 22,108 7,505 10.10 The Financial report was approved by the management on .............2022 and were signed on its behalf by: Chainnan Secretary

Covenani Community B￿ed Organizarion Annual Repor¢ and Financial Reporifor theyear Ended 31 Decemher 2021 Page 5 NOTES TO THE FINANCIAL REPORT l. Summary of Signifjcant Accounting Policies a) Basis of Pre%entAtion The financial report is prepared on a cash basis accounting. Revenues Revenue is recorded on a cash basis, i.e. when the cash is received. This is a reflection of the faci thal although promises may be made to the organization, Covenant Commiinily Based Organization can only count on the donors, support when il ts acluall>' received. Expenditure Expendilure consis1S of expense already incurred and paid. The expenditure was incurred Plirsuanl to the organizaiion objeclives and subject io the allocations as per Ihe budget. b) Functional and Presentg¢ion Currency The flnancial report has been presented in Kenya shillings (Kes). The functional cU￿encY is Ken)'a shillings.

111 11 UIIEII uii 11 IIEIII IIIEIIIE 111 111 11 11 11 11 11 uii 1111 VNIDDIMINI,

COVENANT COMMUNITY BASED ORGANIZATION Page 7 2021 July August September October November December Total Kes Kes Kes Kes Kes Kes Kes 609,513 454,628 312.994 337,159 288,366 2.345.503 INCOME Grant 342,843 EXPENDITURE Rent Food expenses C. Hse Family unit Water & electricity Transport & iravelling School Deeds School fees Salaries Entertainmeni Communication Office stationery Sponsorship Energy relill Repairs & maintenance Transaction cost Household ilems Medical Personal grooming Miscellaneous exp Licenses & pennits Total expenditure 44,000 44.0(N) 44,OC() 24.IX#) 66,100 83,550 66,CX)) 48.449 106.750 45.336 24.800 37.3iXI 10,893 11.447 11.035 16.426 50,550 66,C 35,2C(J 40.31X) 78,943 55.715 17.886 26,179 144,170 10,000 22.750 64,2 24,000 30,000 24,000 24.(KKI 1,800 1,815 1,815 4,000 5,700 5.230 4,190 215 26.550 10,150 24,000 56.502 44.800 5,580 36,450 36,743 21,300 20.CrfXJ 1,000 5,71XI 695 60,550 8,100 3,190 2,989 2,768 1.250 1,300 9.866 24,000 81,251 23,650 6,715 30.900 18,771 204,000 401,852 282,636 62,096 259,400 234,237 262,420 I38,0￿) 7,930 30,880 16,000 246,597 57,550 7,090 19,408 4,708 8,780 21,450 82,892 16,000 1.500 4,650 5,6C 3.9 29,550 11.350 52.200 10,350 1,400 4,222 37,650 40,097 8.700 1.81J) 2,822 4,316 1,540 3,900 400 26.750 2,887 2.172 2.130 250 24.393 100 900 3.ICQ 5,370 15,600 14,486 2.027 609,702 455,508 313,073 337,468 342,783 289,392 2,347,926 Surplu51(deficit) 11891 18801 179) 1309) 11,0261 12,4231 Mpesa bal. at 31112121 457.25 Mpesa bal. at 11712021 769.00

Page 8 Covenanr Community B￿ed Organizaiion Annual Reporl and Financial Reporifor rhe year Ended 31 December 2020 Detailed operating activities Jan - De¢ 2020 2020 2020 2020 January - July August-Deeember January - Deceml)er Kes Kes INCOME Gr#nt 3,985,747 1,770,982 5,756,729 EXPENDITURE Rent Food expenses C. Hse Family unit Water & electricily Transport & travelling School needs School fees Vocational needs Salaries Entertainment Communication Oftice stationery Sponsorship Energy refill & charcoal Repairs & maintenance Transaction cost Household iiems Medical Personal grooming Assistance Miscellaneous exp Audit Licenses & pennits TotAI expenditure 634.302 615.038 280,153 83.020 274,614 251,203 245.141 29.149 341,920 10.500 31,989 21,342 283,197 92,928 41,598 4.100 129,856 398.496 16,047 172,835 2,212 20,000 236.400 378.560 111,662 64.182 175.568 55.049 99.850 870.702 993.598 391.815 450.18? 306.?$2 344.L)91 29.14() 467.()?O 15.700 52.()119 27.??] 511.-$01 140.578 62.863 18.4119 191.¥?6 408.¥() 51.047 172.835 73.4()? 20.000 126,000 5.200 20,620 5.879 228,304 47.650 21,265 14.309 61.970 10,366 35,000 71,250 500 1769,584 500 3,979,640 5.749,224 FUND BALANCE 6,107 98 7,505

COVENANT COMMUNITY BASED ORGANIZATION PROJECT AUDIT FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Owenga & A550Cl3tes Certified Public Accountants IKI P. O. Box 2553 - 40100. KISUMU Cell.. [phone] [phone]

Covenani Community Based Organizarion Annual Report and Financial Repor¢for ihe year Ended 31 December 2021 Con¢ents Page Board information Board report Auditors report Income statement Notes to financial statement Detailed operation5 January- December 2021 Operations July 2021- December 2021 Operatlons January 2020- December 2020

Page I Covenant Community Based Organizafion Annual Reporl and Financial Reportfor rhe year Ended 31 December 2021 Organization's Information: Covenant Community Based Organizalion is a registered under The Stste Department of Labour. Social Security and Services registration No. 34091 On 17th May 2013. Principal Activities To support education of unde￿rivileged children and youth to access education and to acquire skills that can enable them defend for their livelihood in future. Board Members The members of the Board at the time of signing this report were: l ) Debra Asewe Chairperson 2) B¢nard Olubero Assi. Chair 3) Kennedy Okoih Secretary 4) Antony Gondi Member 5) Kenneih Devines Member 6) Bealrice Akoth Member 7) Winnie Achieng Member 8) Victor Devines Member Independent auditors: Owenga & Associates Certified Public Accountanls (K) Hamilton House, I st Floor P. O. Box 2553- 40100 Kisumu, Kenya

Covenap71 Community Based Organiza¢ion Reporl and Financial Reportfor the year Ended JI December 2021 Page 2 The Management Board of Covenant Community B&sed Organization is required lo prepare a financial report for the applicabl¢ reporting period. This fllwcial report must give a true and fair view of the state of affairs of the organization as at th¢ end of that period and of the operating results for the period. The donors also require Covenant Community Based Organization lo keep proper accounting records which disclose. wilh reasonable accuracy. the financial position of the organizalion. They are resFK)nsible for safeguarding the assets of the organization. The Management Board accepts responsibilily for the annual financial statements, which have been prepared using appropriate accounting polici¢s supported by reasonable and prudent judgmenls and estimates, in conformity with ihe donors reporting requirements and Covenant CoTnmunity Based Organization financial reporting frdmework. The Management Board is of (he opinion Ihal the financial statements give a true and fair view of the state of the fjnancial slalements of the organization and ils operating results. The Management Board further accepis responsibility for the maintenance of accounting records which may be relied upon in the preparalion of financial statements, as well as adequate systems of internal financial control. The financial report set out on page 4 was approved by the managemeni board on 1 Q..10:.2022 and were signed on its behalf by.. Chairman..... Treasurer..

Page 3 Owenga & Associates Certified Public Accountants (K) P. O Box 2553-40100 KISUMU Phone: [phone] INDEPENDENT AUDITORS, REPORT We have audited the expendiiure and revenue as stated in the Financial Report of the Covenant Communily Based Organization for the year ended 31 December 2021 which is sel out on page 4. Audi¢ responsibility Our responsibility IS to express an opinion on these financial statements based on our audil. We conducted our audit in accordance with International Standards on Audiling 800 (ISA 800). This standard requires that we plan and perfomi the audit to obtain reasonable assurance whether the slatemenl of income and expenditure is free from material misstatement. An audit involves perforniing procedures to obiain audil evidence about the amounts and disclosures in ihe financial slalemenls. An audit also includes assessing th¢ accounting principles used and significant estimates made by management, as well as evaluating the overall slalements presenlalion. Opinion In our opinion. the financial report presents fairly. in all material respecis, Ihe expenditure incurred and income received for ihe organization during the year ended 31 December 2021 and corresponds to the organizaiion's accounting records. Distribution and Use Covenant Community Based Organization have requested this report and it is inlended solely for their inforniation and use and that of iheir donors. QWEPI O ASSOCIATE5 P, 0. 80X 2553 40100 Kisuf*lU Certified Public Aceountants (K) KISUMU f .0.￿ce£ll2022

Page 4 Covenant Copnmunity Based Orgartizalion Annual Repor¢ andFinarycial Reporifor iheyear Ended 31 December 202] INCOME STATEMENT 2021 Kes 4,653,747 2020 Ke5 5,756,729 INCOME Grant EXPENDITURE Renl Food expenses C. Hse Family unit Water & electricity Transport & travelling School needs School fees Vocational needs Salaries Entertainrnent Communicalion Otrice slalionery Sponsorship Energy refill & charcoal Repairs & maintenance Transactlon cost Household items Medical Personal grooming Assistance Misc¢llan¢ous exp Audit License5 & permits Tot41 expenditure 457,200 855.847 422,606 127.213 543.400 433,247 577.812 870,702 993,598 391.815 147.202 450.182 306,252 344,991 29,149 467.920 15.700 52,609 27,221 511,501 140.578 62.863 18.409 191,826 408,862 51.047 172.835 73.462 20,000 500 5,749,224 294.000 14.145 57,945 25,255 471,197 113.450 17,580 37.854 8,578 32,180 31.110 109,736 40,000 5,500 4,675,855 FUND BALANCE 22,108 7,505 10.10 The Financial report was approved by the management on .............2022 and were signed on its behalf by: Chainnan Secretary

Covenani Community B￿ed Organizarion Annual Repor¢ and Financial Reporifor theyear Ended 31 Decemher 2021 Page 5 NOTES TO THE FINANCIAL REPORT l. Summary of Signifjcant Accounting Policies a) Basis of Pre%entAtion The financial report is prepared on a cash basis accounting. Revenues Revenue is recorded on a cash basis, i.e. when the cash is received. This is a reflection of the faci thal although promises may be made to the organization, Covenant Commiinily Based Organization can only count on the donors, support when il ts acluall>' received. Expenditure Expendilure consis1S of expense already incurred and paid. The expenditure was incurred Plirsuanl to the organizaiion objeclives and subject io the allocations as per Ihe budget. b) Functional and Presentg¢ion Currency The flnancial report has been presented in Kenya shillings (Kes). The functional cU￿encY is Ken)'a shillings.

111 11 UIIEII uii 11 IIEIII IIIEIIIE 111 111 11 11 11 11 11 uii 1111 VNIDDIMINI,

COVENANT COMMUNITY BASED ORGANIZATION Page 7 2021 July August September October November December Total Kes Kes Kes Kes Kes Kes Kes 609,513 454,628 312.994 337,159 288,366 2.345.503 INCOME Grant 342,843 EXPENDITURE Rent Food expenses C. Hse Family unit Water & electricity Transport & iravelling School Deeds School fees Salaries Entertainmeni Communication Office stationery Sponsorship Energy relill Repairs & maintenance Transaction cost Household ilems Medical Personal grooming Miscellaneous exp Licenses & pennits Total expenditure 44,000 44.0(N) 44,OC() 24.IX#) 66,100 83,550 66,CX)) 48.449 106.750 45.336 24.800 37.3iXI 10,893 11.447 11.035 16.426 50,550 66,C 35,2C(J 40.31X) 78,943 55.715 17.886 26,179 144,170 10,000 22.750 64,2 24,000 30,000 24,000 24.(KKI 1,800 1,815 1,815 4,000 5,700 5.230 4,190 215 26.550 10,150 24,000 56.502 44.800 5,580 36,450 36,743 21,300 20.CrfXJ 1,000 5,71XI 695 60,550 8,100 3,190 2,989 2,768 1.250 1,300 9.866 24,000 81,251 23,650 6,715 30.900 18,771 204,000 401,852 282,636 62,096 259,400 234,237 262,420 I38,0￿) 7,930 30,880 16,000 246,597 57,550 7,090 19,408 4,708 8,780 21,450 82,892 16,000 1.500 4,650 5,6C 3.9 29,550 11.350 52.200 10,350 1,400 4,222 37,650 40,097 8.700 1.81J) 2,822 4,316 1,540 3,900 400 26.750 2,887 2.172 2.130 250 24.393 100 900 3.ICQ 5,370 15,600 14,486 2.027 609,702 455,508 313,073 337,468 342,783 289,392 2,347,926 Surplu51(deficit) 11891 18801 179) 1309) 11,0261 12,4231 Mpesa bal. at 31112121 457.25 Mpesa bal. at 11712021 769.00

Page 8 Covenanr Community B￿ed Organizaiion Annual Reporl and Financial Reporifor rhe year Ended 31 December 2020 Detailed operating activities Jan - De¢ 2020 2020 2020 2020 January - July August-Deeember January - Deceml)er Kes Kes INCOME Gr#nt 3,985,747 1,770,982 5,756,729 EXPENDITURE Rent Food expenses C. Hse Family unit Water & electricily Transport & travelling School needs School fees Vocational needs Salaries Entertainment Communication Oftice stationery Sponsorship Energy refill & charcoal Repairs & maintenance Transaction cost Household iiems Medical Personal grooming Assistance Miscellaneous exp Audit Licenses & pennits TotAI expenditure 634.302 615.038 280,153 83.020 274,614 251,203 245.141 29.149 341,920 10.500 31,989 21,342 283,197 92,928 41,598 4.100 129,856 398.496 16,047 172,835 2,212 20,000 236.400 378.560 111,662 64.182 175.568 55.049 99.850 870.702 993.598 391.815 450.18? 306.?$2 344.L)91 29.14() 467.()?O 15.700 52.()119 27.??] 511.-$01 140.578 62.863 18.4119 191.¥?6 408.¥() 51.047 172.835 73.4()? 20.000 126,000 5.200 20,620 5.879 228,304 47.650 21,265 14.309 61.970 10,366 35,000 71,250 500 1769,584 500 3,979,640 5.749,224 FUND BALANCE 6,107 98 7,505