East African Education Foundation
Report of the Trustees for the year ended 31 March 2021
Structure, Governance and Management Governing document
East African Education Foundation is constituted as a charitable organisation (Association) registered with the Charity Commission on 8 April 2003 under charity number 1096912.
Organisational structure
The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits. The trustees at the moment meet together as a body weekly and are responsible for all decisions taken in relation to running this organisation and the activities provided by the charity. To assist in the running of the activities, an organisational structure is in place that appoints lead trustees who are supported by other trustees or members of the community that help oversee different aspects of the charity’s work. There are lead trustees for finance, education, sports, cultural activities, women and children and public relations.
Recruitment and appointment of trustees
Trustees are elected at the Annual General Meeting (AGM). They should be active members of the community and fulfil all criteria set for the post they are applying. New trustees are inducted and required to familiarise themselves with contents of the trusts constitution and to the policies and procedures adopted by our charity. They are also required to read publications from the Charity Commission to ensure that they are aware of their responsibilities under the Charities Act. The following are the Trustees of the organisation:
| 1. Nasssor Haroub | Chair |
|---|---|
| 2. Dr Mohammed Salim | Secretary |
| 3. Salim Jumbe Mawengu | Deputy Secretary |
| 4. Hafidh Karama | Treasurer |
| 5. Abubakar Hamad | Member |
| 6. Abdalla Ali | Member |
| 7. Abdalla Jafar | Member |
| 8. Tahir Abdalla | Member |
Risk management
The trustees have assessed the risks the charity faces and have drawn up a matrix which identifies the major risks and likelihood of those risks happening and the measures taken to manage them. The trustees review this matrix regularly and develop systems to manage the risks that have been identified. DBS checks are done for all trustees and for those who work with children or vulnerable groups in different aspects of the work of the organisation.
Objectives and activities Aims
To advance education for people of East African descent in particular but not exclusively by providing, facilities and provision, maintenance and management of a community centre.
1
Objectives
To advance education amongst people of East African descent in particular but not exclusively by the provision of language courses, homework clubs, and assistance with assessing sources of education and training
To advance the education of the public on East African culture
To relieve needs amongst people of East African descent in particular by assisting in interpretation and translation services
Top preserve and protect health by provision of seminars, conferences and sports
Strategies
Our activities such as tuition classes, educational opportunities, health initiatives, community events, sport activities and seminars are widely advertised and are open to all in our local community.
Most of our activities are free and supported by donations and volunteers.
Measures are in place to make sure equal opportunities policies are implemented to enable equal access to all irrespective of their faiths, gender, sexuality, ability, age, colour or race.
Use of volunteers
Volunteers are an important resource in all of our activities. They are involved in most of our community activities and we have over 20 people who regularly participate and devote their time in implementing our plans and activities. Recruitment of volunteers follows strict guidelines to make sure they are safe (DBS checked) to the people they serve, well trained, supervised and their work recorded. They also receive support from the management in achieving their own goals (work experience, references etc).
Activities and Achievements
The charity carries out a wide range of activities in pursuance of its charitable aims and objectives. The activities, summarised below, provide benefit both to those who attend our sessions and events and to those who contact us by different means such as telephone, emails or letters.
Seminars: Different seminars on health and wellbeing are delivered free to members of the community. They cover heath issues that are prevalent in the surrounding they live or among our community members. Other topics are delivered as preventative measures to avoid people getting ill. We work with statutory and voluntary sectors such as Police and health authorities in delivering these seminars. Seminars conducted this year include: Covid-19: Monthly virtual seminars to raise awareness and promote vaccination. 240 people attended.
Women’s Health : These are monthly virtual seminars covering different health topics. 400 women benefited from these seminars.
Other topics include alcoholism and treatment options, mental health and Diabetes.
Food Bank : This was initiated to respond to the hardship that resulted from COVID-19 pandemic. We are part of Barking and Dagenham Food bank Network comprising of 15 organisations. A total of 600 families benefited from this programme.
2
Education & Training: STEM project: Supported by British Science Association, this programme has the objective of promoting science subjects among children from BAME communities. The pick of this project was the British Science Week in March 2021. To mark this event, we organised a competition for young people up to the age of 16 on ‘How to prevent the spread of COVID-19’. A total of 24 young people took part across UK and the winners received presents and trophies. All participants received certificate of attendance.
Events: We normally hold events to raise awareness on national issues such as breast cancer Awareness, Men’s Health, Smoking Cessation, etc.
Partnership Working: We work closely with other organisations (statutory and charities) to deliver our services more effectively. This exercise also saves cost by sharing skills and resources .
Community participation: We involve community members in all aspects of our activities from need assessments, planning, implementation, monitoring and evaluation. In this way the community has a say in the way we work and develop.
Festivals: Special community festivals are organised around the year and are celebrated to keep in line with the cultural heritage of our members and these happen regularly each year. They are open to all members of the community. They promote integration and understanding among our members with other communities. This year they were mainly virtual due to COVID-19 pandemic.
Sports : We organise and support adult and young people to take part in different sports. The most common is football. Our football team takes part in friendly matches with other communities in different parts of the country .
Exchange visits: Exchange visits are conducted regularly with other communities in different parts of the United Kingdom to promote friendship and awareness of other cultures.
Financial review Reserves policy
The trustees have reviewed the reserves of the charity. The recent acquisition of the building at 949 Green Lane, Dagenham, RM8 1DJ means that our organisation will have the facility to deliver most of above activities at that premises.
Principal funding sources
The charity’s main source of income is from donations. Various fundraising activities are organised and taking place around the year. In this financial year we received funding from the following donors: London Borough of Barking and Dagenham, Mayor of London, Lottery Community Grant, TESCO, London Community Fund, Comic Relief and British Science Association.
Investment policy and objectives
Our cash reserves are held in the bank and deposit accounts.
3
Plans for future periods
There is a need to expand our activities due to the increase of people utilising our services. There are new challenges emerging from the changing way of life in education, health and culture. The involvement of different sectors of the community is important in making sure that the developed plans are inclusive and relevant to our service users.
Statement of Trustees’ responsibilities
The charity trustees are responsible for preparing a good quality annual report and financial statements in accordance with applicable law and Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to follow the following principles:
-
select suitable accounting policies and standards and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements, decisions and estimates that are reasonable and justifiable;
-
prepare financial statements of the charity on the going concern basis unless where it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper and correct accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charity Regulations. They are also responsible for safeguarding all assets of the charity and taking reasonable steps to prevent and detection of fraud and other irregularities.
This report has been approved by the trustees of East African Education Foundation and signed on its behalf by:
Dr Mohammed Salim (Secretary) 10 September 2021
4
Registered number 1096912
East African Education Foundation
Report and Accounts
31 March 2021
East African Education Foundation
STATEMENT OF FINANCIAL ACTIVITIES
For the year ending 31 March 2021
Income & Expenditure Account
| Note Incoming Resources Incoming resources from generated funds: Voluntary income 3 Investment Income 4 Activities for generating funds 5 Incoming resources from charitable activities 6 Total incoming resources Resources Expended Cost of generating voluntary income Charitable activities 8 Governance Cost 9 Total resources expended Net incoming resources / (resources expended) before transfers Transfers between Funds Net movement of funds in year Net income / expenditure for the year Total Funds brought forward Total Funds at 31 March 2020 14 |
Restricted Funds 2021 £ - - - - - - - - - - - - - 67,194 67,194 |
Unrestricted Funds 2021 £ 96,306 - 19,061 - 115,367 2,942 52,292 325 55,559 - - 59,808 59,808 614,714 674,522 |
Total Funds 2021 £ 96,306 - 19,061 - 115,367 2,942 52,292 325 55,559 - - 59,808 59,808 681,908 741,716 |
Total Funds 2020 £ 18,659 - 19,760 38,419 |
|---|---|---|---|---|
| 2,555 19,427 325 |
||||
| 22,307 | ||||
| - - |
||||
| 16,112 | ||||
| 16,112 665,796 |
||||
| 681,908 |
East African Education Foundation STATEMENT OF FINANCIAL ACTIVITIES
Balance Sheet as at 31 March 2020
| Note Fixed Assets Land & Building 11 Fixtures & Fittings Current Assets Debtors 12 Cash at Bank and in Hand 12 Creditors:Amounts falling due within one year 13 Net Current Assets Net Assets Charity Funds Restricted Funds 14 Unrestricted Funds 14 |
2020 £ 754,028 - - 36,616 |
£ 754,028 - - 36,616 790,644 48,928 741,716 67,194 674,522 741,716 |
2019 £ 754,028 - 19,458 91,578 |
£ 754,028 - - 19,458 |
|---|---|---|---|---|
| 773,486 91,578 |
||||
| 681,908 | ||||
| 67,194 614,714 |
||||
| 681,908 |
East African Education Foundation
Notes to the Financial Statements
For the year ended 31 March 2021
Note 1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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 on 16 July 2014
1.2 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note { 1.1 }.
Note 2 Accounting policies
| 2.1 INCOME | |
|---|---|
| Recognition of | These are included in the Statement of Financial Activities (SoFA) when: |
| income | |
| • the charity becomes entitled to the resources; | |
| · it is more likely than not that the trustees will receive the resources; and | |
| • the monetary value can be measured with sufficient reliability. | |
| Offsetting | There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. |
| Grants and | Grants and donations are only included in the SoFA when the general income recognition criteria are met. |
| donations | |
| In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified | |
| goods or services as entitlement to the grant only occurs when the performance related conditions are met . | |
| Legacies | Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have |
| established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of | |
| the charity or have been met. | |
| Government grants | The charity has received government grants in the reporting period |
| Tax reclaims on donations and gifts |
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. |
| Contractual income | |
| and performance related grants |
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions. |
| Donated goods | Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. |
| The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of | |
| their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as | |
| an expense at the carrying amount of the stocks at distribution. | |
| Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the | |
| expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the | |
| balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale | |
| are also recognised as 'Income from other trading activities'. | |
| Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming | |
| resources when receivable. | |
| Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. |
| Donated services and | Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of |
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of |
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of |
|---|---|---|---|
| facilities | the gift can be measured reliably. | ||
| Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised | |||
| as an expense under the appropriate heading in the SOFA. | |||
| Support costs | The charity has incurred expenditure on support costs. | ||
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. | ||
| Income from interest, | |||
| royalties and | This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. | ||
| dividends | |||
| Income from | |||
| membership | Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. | ||
| subscriptions | |||
| Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income | earned | ||
| from the provision of goods and services as income from charitable activities. | |||
| Settlement of | Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 | ||
| insurance claims | SORP) and are included as an item of other income in the SoFA. | ||
| Investment gains and | This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing |
||
| losses | investments to market value at the end of the year. | ||
| 2.2 EXPENDITURE AND LIABILITIES | |||
| Liability recognition | Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to | ||
| pay out resources and the amount of the obligation can be measured with reasonable certainty. | |||
| Governance and | Support costs have been allocated between governance costs and other support. Governance costs comprise all costs | involving | |
| support costs | public accountability of the charity and its compliance with regulation and good practice. | ||
| Support costs include central functions and have been allocated to activity cost categories on a basis | consistent with the use of | ||
| resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and | other costs by their usage. | ||
| Grants with | Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such | ||
| performance | grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. | ||
| conditions | |||
| Grants payable | Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability | ||
| without performance | for the full funding obligation must be recognised. | ||
| conditions | |||
| Redundancy cost | The charity made no redundancy payments during the reporting period. | ||
| Deferred income | No material item of deferred income has been included in the accounts. | ||
| Creditors | The charity has creditors which are measured at settlement amounts less any trade discounts | ||
| Provisions for | A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount | ||
| liabilities | required to settle the obligation at the reporting date | ||
| Basic financial | The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS | 102 SORP. Subsequent | |
| instruments | measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP. | ||
| 2.3 ASSETS | |||
| Tangible fixed assets | These are capitalised if they can be used for more than one year, and cost at least | ||
| for use by charity | They are valued at cost. | ||
| The depreciation rates and methods used are disclosed in note 7. | |||
| Intangible fixed | The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and | ||
| t | t ll d b th h it th h t d l l i ht Th ti ti t d th d |
d di l d i |
t 15 |
assets
are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 15
They are valued at cost.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
Stocks and work in progress
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
3 Voluntary Income
| Donation Grants Investment Income Interest on Bank & Deposit Account Other Income |
Restricted Unrestricted Funds Funds 2021 2021 £ £ - 25,206 - 71,100 - 96,306 Restricted Unrestricted Funds Funds 2021 2021 £ £ - - - - - - |
Total Funds 2021 £ 25,206 71,100 96,306 Total Funds 2021 £ - - - |
Total Funds 2020 £ 5,239 13,420 |
|---|---|---|---|
| 18,659 | |||
| Total Funds 2020 £ - - |
|||
| - |
4 Investment Income
5 Activities for generating funds
| Restricted Funds 2021 £ Rent & hall hire - Fund Raising - - Incoming resources from charitable activities Restricted Funds 2021 Faith and Worship: Literature Sales - Other incoming resources Loan Restricted Funds 2021 £ Other - - Analysis of charitable expenditure Accountancy fees Printing and stationeries Refreshment Depreciation of tangibe fixed assets Insurance Legal fees Rent & Rates Repairs & Maintenance Community projects costs Utility Equipment purchase Donation Professional fees Travel, Trips and Outing Administration costs |
Restricted Funds 2021 £ - - |
Unrestricted Funds 2021 £ 19,061 - 19,061 Unrestricted Funds 2021 - Unrestricted Funds 2021 £ - - Direct Charitable Activities £ 325 509 - - 1,014 1,640 5,602 1,150 36,028 3,180 3,731 2,260 120 - - 55,559 |
Total Funds 2021 £ 19,061 - 19,061 Total Funds 2021 £ - Total Funds 2021 £ - - 2021 Total £ 325 509 - - 1,014 1,640 5,602 1,150 36,028 3,180 3,731 2,260 120 - - 55,559 |
Total Funds 2020 £ 19,760 - |
|---|---|---|---|---|
| - | 19,760 | |||
| Total Funds 2020 £ - |
||||
| Total Funds 2020 £ - |
||||
| - | ||||
| 2020 Total £ 325 425 1,273 - 1,031 - 5,592 - 2,194 508 500 - 7,053 850 |
||||
| 19,752 |
6 Incoming resources from charitable activities
7 Other incoming resources Loan
8 Analysis of charitable expenditure
9 Net Incoming / (outgoing) resources
This is stated after charging:
| Depreciation of tangible fixed assets Accountant's remuneration |
2021 £ - 325 325 |
2020 £ - 325 |
|---|---|---|
| 325 |
10 Taxation
The organisation is a registered charity and no provision is considered necessary for taxation.
11 Tangible Fixed Assets
| Cost At April 2020 Additions Disposal At 31 March 2021 Depreciation At April 2020 Charge for the year Elimination on disposals At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 |
Free hold Leasehold Land Building Land £ £ 754,028 - - - - 754,028 - - - - - - - - - 754,028 - 754,028 - |
Fixtures & Equipment Total £ - - - - - - - - - |
Total £ 754,028 - - |
|---|---|---|---|
| 754,028 | |||
| - - - |
|||
| - | |||
| 754,028 | |||
| 754,028 |
| 12 Debtors: (Falling due within one year) Due within one year: Debtors Prepayments Cash in Hand & Bank |
2021 £ - - 36,616 36,616 |
2020 £ - - 19,458 |
|---|---|---|
| 19,458 |
13[Creditors: ][(Falling due within one year)]
| Creditors:(Falling due within one year) | ||
|---|---|---|
| Property payment due Loan for the property Accruals |
2021 £ - 48,678 250 48,928 |
2020 £ - 91,328 250 |
| 91,578 |
14 Statement of funds
| Unrestricted Funds General Funds Restricted Funds Fund Raising Other Total Funds |
Brought Incoming Forward Resources £ £ 614,714 115,367 - - 67,194 - |
Resources Expended £ 58,114 - - 58,114 |
Carried Forward £ 671,967 |
|---|---|---|---|
| - 67,194 |
|||
| 681,908 115,367 |
739,161 |
Independent Examiner’s report to the trustees/directors of East African Education Foundation.
I report on the accounts for the year ended 31 March 2021 which are set out on pages 2 to 13.
Respective The charity's trustees are responsible for the preparation of the accounts. The charity’s responsibilities trustees/directors consider that an audit is not required for this year under section 43(2) of the Charities of Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility to: trustees/Directo • examine the accounts under section 43 of the 1993 Act, rs and examiner • to follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, and • to state whether particular matters have come to my attention. Basis of My examination was carried out in accordance with general Directions given by the Charity Commission. independent An examination includes a review of the accounting records kept by the charity and a comparison of the examiner’s accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees/directors concerning any such statement matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent In connection with my examination, no matter has come to my attention examiner's 1. which gives me reasonable cause to believe that in, any material respect, the requirements: statement • to keep accounting records in accordance with section 41 of the 1993 Act; and • to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met ; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
Thursday, 16 September 2021 Olusola Olalekan Shokunbi FCCA Paul Victoria Accountants 2nd Floor, 134 South street, Romford, Essex RM1 1TE
Registered number 1096912
East African Education Foundation
Report and Accounts
31 March 2021
East African Education Foundation
STATEMENT OF FINANCIAL ACTIVITIES
For the year ending 31 March 2021
Income & Expenditure Account
| Note Incoming Resources Incoming resources from generated funds: Voluntary income 3 Investment Income 4 Activities for generating funds 5 Incoming resources from charitable activities 6 Total incoming resources Resources Expended Cost of generating voluntary income Charitable activities 8 Governance Cost 9 Total resources expended Net incoming resources / (resources expended) before transfers Transfers between Funds Net movement of funds in year Net income / expenditure for the year Total Funds brought forward Total Funds at 31 March 2020 14 |
Restricted Funds 2021 £ - - - - - - - - - - - - - 67,194 67,194 |
Unrestricted Funds 2021 £ 96,306 - 19,061 - 115,367 2,942 52,292 325 55,559 - - 59,808 59,808 614,714 674,522 |
Total Funds 2021 £ 96,306 - 19,061 - 115,367 2,942 52,292 325 55,559 - - 59,808 59,808 681,908 741,716 |
Total Funds 2020 £ 18,659 - 19,760 38,419 |
|---|---|---|---|---|
| 2,555 19,427 325 |
||||
| 22,307 | ||||
| - - |
||||
| 16,112 | ||||
| 16,112 665,796 |
||||
| 681,908 |
East African Education Foundation STATEMENT OF FINANCIAL ACTIVITIES
Balance Sheet as at 31 March 2020
| Note Fixed Assets Land & Building 11 Fixtures & Fittings Current Assets Debtors 12 Cash at Bank and in Hand 12 Creditors:Amounts falling due within one year 13 Net Current Assets Net Assets Charity Funds Restricted Funds 14 Unrestricted Funds 14 |
2020 £ 754,028 - - 36,616 |
£ 754,028 - - 36,616 790,644 48,928 741,716 67,194 674,522 741,716 |
2019 £ 754,028 - 19,458 91,578 |
£ 754,028 - - 19,458 |
|---|---|---|---|---|
| 773,486 91,578 |
||||
| 681,908 | ||||
| 67,194 614,714 |
||||
| 681,908 |
East African Education Foundation
Notes to the Financial Statements
For the year ended 31 March 2021
Note 1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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 on 16 July 2014
1.2 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note { 1.1 }.
Note 2 Accounting policies
| 2.1 INCOME | |
|---|---|
| Recognition of | These are included in the Statement of Financial Activities (SoFA) when: |
| income | |
| • the charity becomes entitled to the resources; | |
| · it is more likely than not that the trustees will receive the resources; and | |
| • the monetary value can be measured with sufficient reliability. | |
| Offsetting | There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. |
| Grants and | Grants and donations are only included in the SoFA when the general income recognition criteria are met. |
| donations | |
| In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified | |
| goods or services as entitlement to the grant only occurs when the performance related conditions are met . | |
| Legacies | Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have |
| established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of | |
| the charity or have been met. | |
| Government grants | The charity has received government grants in the reporting period |
| Tax reclaims on donations and gifts |
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. |
| Contractual income | |
| and performance related grants |
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions. |
| Donated goods | Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. |
| The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of | |
| their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as | |
| an expense at the carrying amount of the stocks at distribution. | |
| Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the | |
| expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the | |
| balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale | |
| are also recognised as 'Income from other trading activities'. | |
| Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming | |
| resources when receivable. | |
| Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. |
| Donated services and | Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of |
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of |
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of |
|---|---|---|---|
| facilities | the gift can be measured reliably. | ||
| Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised | |||
| as an expense under the appropriate heading in the SOFA. | |||
| Support costs | The charity has incurred expenditure on support costs. | ||
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. | ||
| Income from interest, | |||
| royalties and | This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. | ||
| dividends | |||
| Income from | |||
| membership | Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. | ||
| subscriptions | |||
| Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income | earned | ||
| from the provision of goods and services as income from charitable activities. | |||
| Settlement of | Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 | ||
| insurance claims | SORP) and are included as an item of other income in the SoFA. | ||
| Investment gains and | This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing |
||
| losses | investments to market value at the end of the year. | ||
| 2.2 EXPENDITURE AND LIABILITIES | |||
| Liability recognition | Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to | ||
| pay out resources and the amount of the obligation can be measured with reasonable certainty. | |||
| Governance and | Support costs have been allocated between governance costs and other support. Governance costs comprise all costs | involving | |
| support costs | public accountability of the charity and its compliance with regulation and good practice. | ||
| Support costs include central functions and have been allocated to activity cost categories on a basis | consistent with the use of | ||
| resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and | other costs by their usage. | ||
| Grants with | Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such | ||
| performance | grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. | ||
| conditions | |||
| Grants payable | Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability | ||
| without performance | for the full funding obligation must be recognised. | ||
| conditions | |||
| Redundancy cost | The charity made no redundancy payments during the reporting period. | ||
| Deferred income | No material item of deferred income has been included in the accounts. | ||
| Creditors | The charity has creditors which are measured at settlement amounts less any trade discounts | ||
| Provisions for | A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount | ||
| liabilities | required to settle the obligation at the reporting date | ||
| Basic financial | The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS | 102 SORP. Subsequent | |
| instruments | measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP. | ||
| 2.3 ASSETS | |||
| Tangible fixed assets | These are capitalised if they can be used for more than one year, and cost at least | ||
| for use by charity | They are valued at cost. | ||
| The depreciation rates and methods used are disclosed in note 7. | |||
| Intangible fixed | The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and | ||
| t | t ll d b th h it th h t d l l i ht Th ti ti t d th d |
d di l d i |
t 15 |
assets
are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 15
They are valued at cost.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
Stocks and work in progress
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
3 Voluntary Income
| Donation Grants Investment Income Interest on Bank & Deposit Account Other Income |
Restricted Unrestricted Funds Funds 2021 2021 £ £ - 25,206 - 71,100 - 96,306 Restricted Unrestricted Funds Funds 2021 2021 £ £ - - - - - - |
Total Funds 2021 £ 25,206 71,100 96,306 Total Funds 2021 £ - - - |
Total Funds 2020 £ 5,239 13,420 |
|---|---|---|---|
| 18,659 | |||
| Total Funds 2020 £ - - |
|||
| - |
4 Investment Income
5 Activities for generating funds
| Restricted Funds 2021 £ Rent & hall hire - Fund Raising - - Incoming resources from charitable activities Restricted Funds 2021 Faith and Worship: Literature Sales - Other incoming resources Loan Restricted Funds 2021 £ Other - - Analysis of charitable expenditure Accountancy fees Printing and stationeries Refreshment Depreciation of tangibe fixed assets Insurance Legal fees Rent & Rates Repairs & Maintenance Community projects costs Utility Equipment purchase Donation Professional fees Travel, Trips and Outing Administration costs |
Restricted Funds 2021 £ - - |
Unrestricted Funds 2021 £ 19,061 - 19,061 Unrestricted Funds 2021 - Unrestricted Funds 2021 £ - - Direct Charitable Activities £ 325 509 - - 1,014 1,640 5,602 1,150 36,028 3,180 3,731 2,260 120 - - 55,559 |
Total Funds 2021 £ 19,061 - 19,061 Total Funds 2021 £ - Total Funds 2021 £ - - 2021 Total £ 325 509 - - 1,014 1,640 5,602 1,150 36,028 3,180 3,731 2,260 120 - - 55,559 |
Total Funds 2020 £ 19,760 - |
|---|---|---|---|---|
| - | 19,760 | |||
| Total Funds 2020 £ - |
||||
| Total Funds 2020 £ - |
||||
| - | ||||
| 2020 Total £ 325 425 1,273 - 1,031 - 5,592 - 2,194 508 500 - 7,053 850 |
||||
| 19,752 |
6 Incoming resources from charitable activities
7 Other incoming resources Loan
8 Analysis of charitable expenditure
9 Net Incoming / (outgoing) resources
This is stated after charging:
| Depreciation of tangible fixed assets Accountant's remuneration |
2021 £ - 325 325 |
2020 £ - 325 |
|---|---|---|
| 325 |
10 Taxation
The organisation is a registered charity and no provision is considered necessary for taxation.
11 Tangible Fixed Assets
| Cost At April 2020 Additions Disposal At 31 March 2021 Depreciation At April 2020 Charge for the year Elimination on disposals At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 |
Free hold Leasehold Land Building Land £ £ 754,028 - - - - 754,028 - - - - - - - - - 754,028 - 754,028 - |
Fixtures & Equipment Total £ - - - - - - - - - |
Total £ 754,028 - - |
|---|---|---|---|
| 754,028 | |||
| - - - |
|||
| - | |||
| 754,028 | |||
| 754,028 |
| 12 Debtors: (Falling due within one year) Due within one year: Debtors Prepayments Cash in Hand & Bank |
2021 £ - - 36,616 36,616 |
2020 £ - - 19,458 |
|---|---|---|
| 19,458 |
13[Creditors: ][(Falling due within one year)]
| Creditors:(Falling due within one year) | ||
|---|---|---|
| Property payment due Loan for the property Accruals |
2021 £ - 48,678 250 48,928 |
2020 £ - 91,328 250 |
| 91,578 |
14 Statement of funds
| Unrestricted Funds General Funds Restricted Funds Fund Raising Other Total Funds |
Brought Incoming Forward Resources £ £ 614,714 115,367 - - 67,194 - |
Resources Expended £ 58,114 - - 58,114 |
Carried Forward £ 671,967 |
|---|---|---|---|
| - 67,194 |
|||
| 681,908 115,367 |
739,161 |
Independent Examiner’s report to the trustees/directors of East African Education Foundation.
I report on the accounts for the year ended 31 March 2021 which are set out on pages 2 to 13.
Respective The charity's trustees are responsible for the preparation of the accounts. The charity’s responsibilities trustees/directors consider that an audit is not required for this year under section 43(2) of the Charities of Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility to: trustees/Directo • examine the accounts under section 43 of the 1993 Act, rs and examiner • to follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, and • to state whether particular matters have come to my attention. Basis of My examination was carried out in accordance with general Directions given by the Charity Commission. independent An examination includes a review of the accounting records kept by the charity and a comparison of the examiner’s accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees/directors concerning any such statement matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent In connection with my examination, no matter has come to my attention examiner's 1. which gives me reasonable cause to believe that in, any material respect, the requirements: statement • to keep accounting records in accordance with section 41 of the 1993 Act; and • to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met ; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
Thursday, 16 September 2021 Olusola Olalekan Shokunbi FCCA Paul Victoria Accountants 2nd Floor, 134 South street, Romford, Essex RM1 1TE