Great Lakes Outreach
ANNUAL REPORT 2024
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Charity registration number 1097267 Company registration number 4686283 (England and Wales)
Contents
| Legal and Administrative Information | 3 |
|---|---|
| Trustees' Report (including directors' report and strategic report) | 4 |
| Statement of Trustees' Responsibilities | 15 |
| Independent Auditor’s Report to the Trustees of Great Lakes Outreach | 17 |
| Statement of Financial Activities | 22 |
| Balance Sheet | 23 |
| Statement of Cash Flows | 24 |
| Notes to the Financial Statements | 25 |
Legal and Administrative Information
Trustees Justin Hill Gavin Howard Charlotte Hutchinson Luke Johnson Paul Smith Stephen White Susan Wilmot (Appointed 22 January 2024) Secretary Leonard Esterhuizen Charity number 1097267 Company number 4686283 Registered office 1st Floor, Tower House Latimer Park Chesham, Bucks HP5 1TU Auditor Summers Morgan First Floor, Sheraton House, Lower Road Chorleywood, Hertfordshire WD3 5LH Bankers National Westminster Plc 250 Bishopsgate London EC2M 4AA Virgin Money (Clydesdale Bank) 177 Bothwell Street Glasgow G2 7ER
Legal and Administrative Information
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Trustees' Report (including directors' report and strategic report)
Letter from the chair of trustees
On behalf of my fellow Trustees, who are also directors of the charity for the purposes of company law, and the entire Great Lakes Outreach (GLO) family, I am pleased to present our report for the year ended 31 December 2024, including our strategic overview and financial accounts. We genuinely appreciate you taking the time to read it and trust that you will find it not just informative, but also thought-provoking and ultimately hopeful. Despite all the news to the contrary, change is possible.
On my first visit to Burundi in 2008, I met a group of women in Kayanza who had formed a self-help association to work together. They talked openly about the horrors of the
civil war period and the continuing difficulties of everyday life, but they also praised God for his goodness to them and they were full of optimism for a better future. It had a profound effect on me and remains a key reason for my continuing connection with the country. We have the privilege of supporting a group of wonderful partners who understand and acknowledge the difficulties, but see beyond them to what is possible. Many of them could leave Burundi for a better material life if they so wished, but choose to stay for the transformation of their nation. Our founder, Simon Guillebaud, writes later in this report about some of the impact they have had this past year and it is so encouraging.
In 2024, we saw significant progress across our core areas of impact — in education, healthcare, discipleship, leadership development, and beyond. Our Burundian partners have once again demonstrated extraordinary resilience, innovation, and servant-hearted leadership. Their commitment in the face of adversity continues to inspire us and fuels our conviction that long-term transformation is not only possible but already underway.
Burundi continues to face immense challenges. The economic situation remains fragile, with inflation and currency instability placing huge pressure on everyday life, and many Burundians still struggle to access basic necessities; they are desperate to see change. However, in the elections that took place earlier this year, which were widely reported to have been manipulated, the ruling party won 100% so political change is unlikely in the short term. We remain convinced of the power of the Gospel to transform individuals and communities and we are here for the long term.
GLO’s strapline — “Transforming Burundi and beyond” — continues to ring true, not only in the communities impacted by our work, but also in the lives of those who witness it firsthand. If you are already a supporter of GLO — through prayer, giving, advocacy, or partnership — thank you; your contribution makes a real difference. If you are new to our work, I encourage you to explore the stories on our website and consider coming to Burundi with us. Seeing the work up close is life-changing, as I myself can attest.
GLO remains committed to rigorous stewardship, accountability, and integrity. With an office in Bujumbura under the capable leadership of Jean Bosco Mutebutsi, and well-established local processes, we ensure that funds are used wisely and reach those most in need. We continue to invest in capacity-building and sustainability to support long-term impact.
Thank you for standing with us — and with the people of Burundi. We do not take your support for granted and have been humbled by the increase in generosity from our supporters in 2024 when we are conscious of so many other difficult circumstances around the world. Please continue to journey with us as we seek to bring lasting hope in one of the most beautiful, yet most challenged, nations in the world.
Paul Smith
Chair of the Board of Trustees
Trustees' Report (including directors' report and strategic report) for the Year Ended 31 December 2024
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Introduction
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011, the Companies Act 2006, the Charity's Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The Trustees have ensured that the Charity is fully compliant with the requirements of the Charity Commission, and in particular that:
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the Charity prepares regular reports on what it has achieved, and annual returns and accounts;
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the Charity does not breach any of the requirements or rules set out in its governing documents and its charitable purpose and objects;
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the Charity complies with the requirements of other legislation and other regulators (if any) which govern the activities of the Charity;
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the Charity complies with the duty within section 175 of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in relation to a public benefit statement; and
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the Trustees act with integrity and avoid any personal conflicts of interest or misuse of charity funds or assets.
In addition, the Trustees have ensured their responsibilities in key areas:
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ensuring that the Charity is and will remain solvent;
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ensuring that the charitable funds and assets are used reasonably, and only in furtherance of the Charity's objects;
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avoiding undertaking activities that might place the Charity's funds, assets or reputation at undue risk; and
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taking special care when investing the funds of the Charity or borrowing funds for the Charity to use.
The Trustees have taken reasonable care and skill in their works as Trustees, using their personal skills and experience as needed to ensure that the Charity is well-run and efficient.
When necessary, the Trustees have obtained external professional advice on all matters where there may be material risk to the Charity, where the Trustees do not have sufficient knowledge themselves, or where the Trustees may be in breach of their duties.
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Objectives and activities
The objects of the Charity are:
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a. to advance the Christian faith in Burundi and in such other parts of the world as the Trustees of the Charity may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Charity;
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b. to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the world as the trustees may from time to time think fit;
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c. to advance education in accordance with Christian principles by such means as the Trustees may consider appropriate including by means of establishing and operating any educational establishment or establishments in the said location and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.
Through the achievement of these objectives the Charity delivers public benefit through lives being changed for good in spiritual, moral, ethical and practical ways and through the relief and prevention of poverty.
Strategies for achieving aims and objectives
- To achieve this, Great Lakes Outreach supports a number of partners and organisations structured to spread the Christian gospel, while providing practical support to youth, university students, street children, orphans and others.
Public benefit
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
The Trustees meet regularly to review the performance of the Charity. At these meetings the Trustees set strategy, assess its risks and review policies and procedures.
Social investments
The Charity undertakes social investments in the form of programme related investments. These are concessionary loans made to partners in Burundi to enable organisations or people to complete projects that are in line with those of the Charity.
Grant making policy
Under the articles of association, the Charity has the power to make any investment which the Trustees see fit; generally, the Charity invests its cash resources in liquid investments that cannot go up or down in value.
Strategic report
The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.
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Achievements and performance
Significant activities and achievements against objectives
The Charity continued its support of key Christian evangelistic ministries in the Great Lakes region of Central Africa. Grants are paid from restricted funds in accordance with the donor’s wishes, as well as unrestricted grants paid in line with the strategy agreed by Trustees and as need arises.
As International Director, Simon Guillebaud manages the Charity based in the United Kingdom and he is ably assisted by the Executive Consultant, Jean Bosco Mutebutsi, who looks after the Charity's interests in Burundi. Other team members, either full or part-time, include seven in the UK and three in Burundi.
Simon writes:
2024 was a very difficult year for Burundi, which made the work of GLO all the more important. The fuel crisis persisted, and inflation continued apace, so most people are struggling to survive.
GLO’s impact over the year was remarkable. Partnering with twenty-eight organisations has yielded spectacular results, which are very encouraging to share:
We estimate that over 950,000 were positively affected by GLO’s work in the last year. This includes over 32,900 Bibles being given out, 250 large outreach events, over 6,600 church leaders equipped, over 15,000 hours of biblically grounded, positive content broadcast across TV and radio channels, over 27,000 people treated in health clinics, more than 2,200 people receiving health cards, 584 savings loans groups, over 5,900 school children sponsored in some way through their studies, 4,600 beneficiaries with disabilities, over 1,600 hungry people benefiting through food programmes, 19 houses built, 5,600 children and youth attending camps, 5,000 trained as Sunday school teachers, together with over 111,000 people coming to faith.
That is not an exhaustive list of what GLO has been involved in, but it provides a sense of the scale and variety of our work, which has been accomplished in the face of multiple challenges. We congratulate, encourage and cheer on our trusted local partners and their whole staff teams as they dedicate their lives to making a difference in their nation.
The strength of GLO’s work is its emphasis on long-term engagement built on trusted relationships. These continue to thrive, and we are thrilled to come alongside Burundian men and women of passion, integrity, gifting and vision for the transformation of their nation.
We welcome any interest from people reading this report who might want to get involved and help us in coming alongside Burundians who have a proven track record in making a positive difference. According to the latest statistics, Burundi languishes near the bottom as the second poorest in GDP, the opportunities very significant.most stressed nation and the hungriest country in the world, so the needs are huge and GLO’s strategic
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Our Partners
The Charity works with the following partner organisations within Burundi to achieve its charitable objectives. As well as financial support, leaders and staff of each organisation benefit from coaching and leadership development. Further information on each can be found on the Charity’s website at www.glo.org.uk/partners[1]
Antioch Foundation
Led by Onesphore Manirakiza, Antioch provides training for church leaders and hosting initiatives aiming to catalyse healthy churches and develop struggling congregations. The Charity provides time limited funding for salaries of local church pastors who are part of Antioch Foundation's programme; this funding supports them through church-based theological education.
APRID
Led by Jean Baptise Nzohagera, APRID reaches into local communities to enter into meaningful and peaceful dialogue with other local faith leaders, hosts public debates and supports those enduring religious persecution. The Charity has financially supported these initiatives.
Burundi Mission Alliance
Led by Francois Kurunkunde, BMA seeks to unite different Church denominations and encourage international evangelistic outreach.
CAPAMI
Led by Michel Nsabiyumva, CAPAMI works primarily amongst the police and army, treating PTSD and trauma. They aim to bring healing to the internal wounds of any community or individual. The Charity provides financial support to fund staff and running costs.
1 https://www.greatlakesoutreach.org/burundi-and-beyond/our-partners-in-burundi
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Child Evangelism Fellowship (new for 2025)
Led by Anastate Bimenyimana, Child Evangelism Fellowship (CEF) is dedicated to helping children grow in faith through evangelism, discipleship, and integration into local churches. They collaborate with churches, schools and Christian organisations to promote child evangelism, create resources, broadcast media, and offer high-quality training for Sunday school teachers and church leaders.
Community Rise (new for 2025)
Led by Jimmy Ndihokubwayo, Community Rise empowers the most excluded in society, especially women, children, youth, and people with disabilities, through holistic, community-based programmes. Its grassroots programmes include women’s empowerment through savings groups and vocational training, education support for vulnerable children, digital and leadership training for youth, feeding programmes for malnourished families, and disability inclusion.
Evangelism Explosion
Led by Audry Masabo, Evangelism Explosion is recognised as one of the strongest evangelism movements in Africa, through which thousands have come to faith. The Charity supports this local entity in the training of other trainers in Christian evangelism.
Foundation Charles Nkazamyampi
Led by Charles Nkazamyampi, a famous sportsman in Burundi. Charles uses his platform to promote sport and use it as a vehicle for uniting communities and sharing its ideals of peacebuilding, empowerment, and outreach. The Charity provides financial support to fund staff and running costs.
Foundations For Farming, Burundi (new for 2025)
Led by John Murungwa Irakoze, Foundations for Farming (FfF) Burundi primarily works with povertystricken communities, aiming to empower them to play an active part in bringing about positive change and development. Their primary tool is the innovative Foundations for Farming agricultural methodology (originally founded in Zimbabwe), which enables farmers with any-sized plot to significantly increase yields. FfF Burundi also plays a strategic national role in training individuals, organisations, and government officials in the method.
Green Land Alliance
Led by Augustin Niyongabo, GLA develops leaders of integrity and vision, having arisen from the recognition of a crisis of quality leadership. They also set up community-led microfinance initiatives. The Charity provides financial support to fund staff and running costs for micro-finance loans and grants and leadership development.
Harvest Initiatives
Led by Donatien Ndagijima, Harvest Initiatives' mission is to raise up a movement of disciples and leaders acting as catalysts for transformation. Harvest Initiatives has a broad impact through their school, health clinic, and evangelism efforts to reach the population of Burundi, with a particular emphasis on marginalised Batwa communities.
Heritage TV
Led by Martine Dushime, HTV is a broadcaster focusing on various topics around the economy, health, society, entrepreneurship, reconciliation and teaching of the good news of Jesus Christ. The Charity supports HTV both financially and strategically, helping it increase its quality and the appropriateness of its content.
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Igniting Communities for Jesus
Led by Bosco Mutebutsi, ICJ reaches out to vulnerable communities, widows and orphans to share the Gospel and provide practical empowerment, particularly through agriculture and education. The Charity provides funding to support these initiatives.
Inganji
Led by Joyeux Blaise Ntabareha, Inganji runs various courses to raise, empower and equip creative artists of all descriptions to use their creativity for gospel work in the nation.
New Generation
Founded by Dieudonne Nahimana, and now led by Philemon Bigirimana, New Generation works with street-connected children and youth, awakening them spiritually, culturally and socioeconomically to prepare for a better future. The Charity provides financial support to fund staff salaries and fund reconciliation initiatives, as well as their core work amongst street children.
Partners Trust International Church
Led by Jean de Dieu Bizimana, PTIC comprises a church fellowship, a theological training institution and has also acquired land from the government upon which to build a hospital in the coming years. In recent years, the theological training has been hampered by the restrictions of the difficult security situation. However, this is improving, and its impact remains strategic in engaging with the Church in Burundi, and beyond that in peacebuilding and equipping of leaders. The Charity provides funding for salaries and a broad base of activities.
Preaching Ministry in Burundi
Led by Safari Reuben, this initiative is focused on the development and teaching of church leaders who may not have any formal training to minister the Word of God faithfully and engagingly, across Burundi.
Purpose Discovery
Led by Innocent Tresor Havyarimana, PD reaches out to schools to encourage students through religious education and Christian Unions, with the mission of seeing the emergence of a godly generation equipped to contribute to the transformation of society.
RAJEDES
Led by Donatien Nibogora, RAJEDES works to impact youth through both development and discipleship, primarily through their microloan groups and business training, empowering people to start small businesses, as well as sport. The Charity provides financial support to fund staff and running costs.
Restoration Burundi (RESTOBU)
Led by Gratien Nibigira, RESTOBU empowers, equips and facilitates a network of social and civic organisations across the nation, with focus on repatriated refugees and peace initiatives. The Charity provides financial support to fund staff as they work amongst returning refugees to help resettle them into society.
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Scripture Union
Led by Etienne Munezero, SU runs youth camps and supports school Christian Unions and Sunday Schools, providing Bibles, tracts and reading plans. The Charity provides both operational financial support and capital investment funds for key projects, in particular the King's Conference Centre (KCC) which is owned by SU. KCC is fully operational, including the expanded Phase 2. KCC generates a profit which supports the work of SU, as well as employing a significant number of people and providing a Christian meeting place for both faith and secular groups.
Together for Development – Birashoboka
Led by Ephraim Ngendakuriyo, TIDB's goal is to release potential from within vulnerable individuals, helping to train and empower marginalised people in various microfinance initiatives and teaching employable skills such as sewing and agriculture. They also use sport as a means of discipleship and peacebuilding, particularly amongst youth and those involved in prostitution. Birashoboka means 'It is possible'. The Charity provides operational financial support to this inspirational entity.
Trans World Radio
Led by Rachel Muhorakeye, the Charity provides ad hoc financial support to this local branch of a global network in their mission to proclaim the gospel via radio. TWR produces both educational and evangelistic programmes to encourage Burundians in the area of development, life skills, and discipleship.
U-Invest (new for 2025)
Led by Ezechiel Hatungimana, U-Invest is a social enterprise dedicated to fighting poverty by fostering entrepreneurship and creating wealth. In the context of Burundi’s profound economic challenges, U-Invest is a strategic initiative, bridging the gap between entrepreneurs and investors, empowering small and medium-sized enterprises (SMEs) to thrive, and acting as a much-needed model for financial development.
Union Des Groupes Bibliques du Burundi
Led by Gloire Muhizi, UGBB (a branch of UCCF/IFES) ministers on university and college campuses across the nation, focused on evangelism, discipleship and mission. The Charity supports various initiatives within Burundi universities.
United Citizens for Change and Development
Led by Isaiah Nshimirmana, UCCD is a vibrant organisation working in evangelism, family financial autonomy, peace teachings, ecumenical relationship-building, biblical education, and sustainable community development. The Charity provides financial support to fund staff and running costs.
World Outreach Initiatives
Led by Francine Ngendakuriyo, WOI was founded in the midst of national conflict and they run two medical clinics, a radio station, and a network of church leaders. The Charity provides financial support to fund staff and running costs.
Youth for Christ
Led by Euphrate Ndayizigye, YFC Burundi exists to raise up a godly generation of young leaders for the transformation of society through orphan care, excellent schools, and medical clinics. The Charity provides funding to support these initiatives.
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Financial review
The Charity's income from donations increased from £1,332,589 in 2023 to £1,886,061 in 2024 (up 41.5%), leading to an increase in total income from £1,348,360 in 2023 to £1,903,324 in 2024. Unrestricted donations increased from £899,748 to £1,454,360 whilst restricted donations remained similar at £431,701 (£432,841 in 2023).
Expenditure increased from £1,244,129 in 2023 to £1,711,708 in 2024, reflecting an increase in grants made as a result of the increased income. At the end of 2024, the Charity held total funds of £877,189 (compared to £640,930 at the end of 2023). This comprised restricted funds of £208,718 (£177,213 in 2023) and unrestricted funds of £668,471 (£463,717 in 2023). With the completion of the King's Conference Centre, the Designated Fund for this was closed, and the balance of £32,272 was transferred to General Funds.
As at year end 2024, the charity held free reserves of £608,605 (2023: £370,620).
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to a minimum of three months' expenditure. Given the high level of unrestricted reserves, the Trustees consider that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. The Charity's principal income continued to come from donations from individuals and organisations, primarily from the UK. The Charity continued to support partner organisations in Burundi through grant funding of Christian charities and individuals in need, thus achieving its objectives of advancing the Christian faith and relieving poverty.
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Major risks
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place
to mitigate exposure to them. The major risks that they have identified and mitigated are:
Financial Risk
Risk: The Charity has taken on staff and projects that require on-going financial commitments that extend beyond the regular giving from which the Charity benefits.
Mitigation: The Charity has introduced financial reports that are reconciled on a monthly basis and quarterly accounts (Balance Sheet , Income and Expenditure and quarterly grant payments ) are distributed to the Trustees for review. These include reports that clearly demonstrate the funds at hand. The Trustees have a formal reserves policy with a view to ensuring that existing commitments can be met and this is reviewed annually. During the year, a part-time finance manager was recruited to oversee the Charity's accounting and other financial processes resulting in improved transparency, accuracy, efficiency and enhanced control.
Legal Risk
Risk: The Charity sponsors high risk projects.
Mitigation: The Charity has put in place appropriate project management resources and procedures, and financial control measures to ensure that such risk is reduced.
Reputational Risk
Risk: The Charity benefits from a wide range of supporters and donors among whom the reputation of the organisation is critical. There is a risk that a Charity employee could engage in such activities which could be detrimental to the reputation of the Charity.
Mitigation: The reputation of the Charity is defined mostly by the personal reputation of Simon Guillebaud, the public face of the Charity, and it is in his interests to ensure that the Charity maintains a good reputation. Additionally, the Charity is instituting systems to support a greater level of communication with and among its supporter base so that reputation is not tarnished due to an absence of communication.
Employee Risk
Risk: Members of staff are actively and routinely involved in activities in Central Africa, in countries that are rated as highly dangerous by the British Foreign Office, and could be subject to disease, violence or war.
Mitigation: For employees who are exposed to medium term visits (ie. beyond a few weeks), the Charity provides
appropriate insurance to finance and execute remedies, and has an active risk management policy governing a range of scenarios in which staff may find themselves.
Key Staff Risk
Risk: The Charity runs on a small team of dedicated staff; the loss of any these could hamper the Charity's ability to function.
Mitigation: The Charity works in a very open manner so that critical information and processes are shared among a number of people, so that there is no single point of failure and the recent process and organisational changes have strengthened it.
These risks and mitigation measures have been reviewed and agreed by the Trustees.
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Structure, governance and management
The Charity was incorporated as a company limited by guarantee on 4[th] March 2003 and is governed by its Articles of Association, which were updated in 2022. It is registered as a charity.
Recruitment and appointment of trustees
Under the articles, the trustees deal with trustee appointments. There are fixed three year terms of office for trustees, in line with recommended good practice. Re-appointments to further terms, where that is appropriate to the charity’s needs and circumstances, are permitted. There is no limit on total permitted service period as a trustee. The trustees recognise that is a departure from the Charity Governance Code recommendations but consider it is appropriate because there is a limited pool of willing potential trustees, given the nature of the charity’s activities. The trustees recognise the need for balancing experience with fresh ideas and will continue to seek to appoint new or additional trustees in the future where practically possible. They will continue to ensure potential new trustees are committed to the charity’s charitable purposes and supportive of the Christian ethos of the charity. New Trustees are trained by directing them to the relevant information provided by the Charity Commission, providing guidance on the requirements of their role as well as practical considerations.
The Trustees, who are also its Members and the Directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Justin Hill Gavin Howard Charlotte Hutchinson Luke Johnson Paul Smith Stephen White Susan Wilmot (Appointed 22 January 2024)
Day to day operation of the charity is delegated to Simon Guillebaud, who is considered key management personnel, in addition to Paul Tilbury, the Operations Manager who manages the day to day administrative operations of the Charity in consultation with the Chair of the Trustees. Trustees consider the levels of remuneration for key management personnel, and this is reviewed annually.
Auditor
In accordance with the company's articles, a resolution proposing that Summers Morgan be reappointed as auditor of the company will be put at a General Meeting.
Paul Smith Trustee
Date: 10 September 2025
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Statement of Trustees' Responsibilities
The Trustees, who are also the directors of Great Lakes Outreach for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate 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 Companies Act 2006. 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.
Statement of Trustees' Responsibilities for the Year Ended 31 December 2024
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Independent Auditor’s Report to the Trustees of Great Lakes Outreach
Opinion
We have audited the financial statements of Great Lakes Outreach (the ‘Charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).
In our opinion, the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained during the course of the audit, we have not identified material misstatements in the Trustees' Annual Report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Independent Auditor’s Report to the Trustees of Great Lakes Outreach
17
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
-
we identified the laws and regulations applicable to the charitable company through discussions with trustees and other management, and from our knowledge and experience of the sector;
-
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Companies Act 2006, the Charities Act 2011, taxation and employment legislation;
-
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting any reading the minutes of the board of the trustees; and
-
identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement,
including obtaining an understanding of how fraud might occur, by:
-
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
-
performed analytical procedures to identify any unusual or unexpected relationships;
-
tested journal entries to identify unusual transactions; and
-
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
agreeing financial statement disclosures to underlying supporting documentation;
-
reading the minutes of meetings of the board of trustees; and
-
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members and management and the inspection of regulatory and legal correspondence, if any.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at:
www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi.
This description forms part of our auditor's report.
Independent Auditor’s Report to the Trustees of Great Lakes Outreach
18
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
(Senior Statutory Auditor)
For and on behalf of Summers Morgan, Statutory Auditor
Chartered Accountants First Floor, Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH Date 22 September 2025
Summers Morgan is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Independent Auditor’s Report to the Trustees of Great Lakes Outreach
19
Statement of Financial Activities
----- Start of picture text -----
Unrestricted Unrestricted Restricted Total Total
Funds Funds Funds
General designated
2024 2024 2024 2024 2023
Notes £ £ £ £ £
Income from:
-
Donations and legacies 1,454,360 431,701 1,886,061 1,332,589
Charitable activities 3 9,680 - - 9,680 10,177
Investments 4 7,583 - - 7,583 5,594
Total income 1,471,623 - 431,701 1,903,324 1,348,360
Expenditure on:
Raising funds 5 5,975 - - 5,975 4,801
Charitable activities 6 1,290,568 14,772 400,196 1,705,536 1,238,983
Other expenditure 12 197 - - 197 345
Total expenditure 1,296,740 14,772 400,196 1,711,708 1,244,129
Net income/(expenditure) 174,883 (14,772) 31,505 191,616 104,231
Transfer between funds 32,272 (32,272) -
Other recognised gains and
losses:
Other gains/(losses) 14 44,643 - - 44,643 (6,461)
Net movement in funds 9 251,798 (47,044) 31,505 236,259 97,770
Reconciliation of funds:
Fund balances at 1 January 2024 416,673 47,044 177,213 640,930 543,160
Fund balances at 31 December 2024 668,471 - 208,718 877,189 640,930
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The statement of financial activities includes all gains and losses recognised in the year.All income and expenditure derive from continuing activities.
Statement of Financial Activities Including Income and Expenditure Account for the Year Ended 31 December 2024
20
Balance Sheet
----- Start of picture text -----
2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 15 3,339 2,974
Programme related investments 16 56,527 43,079
59,866 46,053
Current assets
Stocks 17 5,617 6,539
Debtors 18 128,617 74,893
Cash at bank and in hand 737,323 525,727
871,557 607,159
Creditors: amounts falling due within
19 (54,234) (12,282)
one year
Net current assets 817,323 594,877
Total assets less current liabilities 877,189 640,930
The funds of the Charity
Restricted income funds 20 208,718 177,213
Unrestricted funds-general 21 668,471 416,673
-
Unrestricted funds-designated 47,044
877,189 640,930
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The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.
The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Balance Sheet as at 31 December 2024
21
Balance Sheet (continued)
The financial statements were approved by the Trustees on 10 September 2025.
Paul Smith
Trustee
Company registration number 4686283 (England and Wales)
Balance Sheet as at 31 December 2024
22
Statement of Cash Flows
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2024 2023
Notes £ £ £ £
Cash flows from operating activities
Cash generated from/(absorbed by) operations 25 206,650 143,864
Investing activities
Purchase of tangible fixed assets (2,637) (1,138)
Investment income received 7,583 5,594
Net cash generated from/(used in) investing activities 4,946 4,456
- -
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents 211,596 148,320
Cash and cash equivalents at beginning of year 525,727 377,407
Cash and cash equivalents at end of year 737,323 525,727
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Statement of Cash Flows for the Year Ended 31 December 2024
23
Notes to the Financial Statements
1 Accounting policies
Charity information
Great Lakes Outreach is a private company limited by guarantee (company number 4686283) incorporated in England and Wales. The registered office is 1st Floor, Tower House, Latimer Park, Chesham, Bucks, HP5 1TU. The company is registered with the Charity Commission (number 1097267).
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's memorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
The funds held by the Charity are:
Unrestricted general funds – these are funds which can be used in accordance with the objects of the Charity at the discretion of the Trustees.
Unrestricted designated funds - these are funds which the Trustees have designated for a specific purpose. Details of the designated funds are set out in the notes to the accounts.
Restricted funds – these are funds which can only be used for particular purposes within the objects of the Charity, usually to support particular projects or needs. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The purpose and use of the restricted funds are set out in the notes to the accounts.
1.4 Incoming resources
Voluntary income is received by way of gifts and donations and is included in full in the Statement of Financial Activities when receivable. Donations under Gift Aid, together with the associated income tax recovery are recognised when the donation is received.
Restricted funds are subject to specific conditions by donors on how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Notes to the Financial Statements for the Year Ended 31 December 2024
24
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Support costs are accounted for on an accruals basis. These include costs incurred in the UK for administering funds received. All costs incurred in Burundi are allocated to direct charitable activities.
Grants payable are recognised when paid, unless there is an earlier unconditional obligation to make payments.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
1.6 Tangible fixed assets
Tangible fixed assets other than land are stated at cost less depreciation and any impairment. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website 20% of cost per annum straight line Fixtures, fittings & equipment 25% of cost per annum straight line
1.7 Stocks
Stock is valued at the lower of cost and net realiseable value.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Notes to the Financial Statements for the Year Ended 31 December 2024
25
1.11 Foreign exchange
Transactions denominated in foreign currencies are recorded at the rate ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All differences are included in net outgoing resources.
1.12 Taxation
The Charity is not subject to Corporation Tax. It is entitled to claim from HM Revenue & Customs the tax associated with income received under gift aid.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Commercial trading operations
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Non-charitable trading activities | 9,680 | 10,177 |
4 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 7,583 | 5,594 |
5 Raising funds
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Other fundraising costs | 5,975 | 4,801 |
Notes to the Financial Statements for the Year Ended 31 December 2024
26
6 Charitable activities
----- Start of picture text -----
Charitable Charitable
Activities in Activities in
Burundi Burundi
2024 2023
£ £
Direct costs
Staff costs 30,193 28,223
Depreciation and impairment 391 802
Direct charitable activities 22,066 19,565
52,650 48,590
Grant funding of activities (see note 7) 1,292,088 868,004
Share of support and governance costs (see note 8)
Support 349,272 308,774
Governance 11,526 13,615
1,705,536 1,238,983
Analysis by fund
Unrestricted funds-general 1,290,568 835,568
Unrestricted funds-designated 14,772 56,277
Restricted funds 400,196 347,138
1,705,536 1,238,983
----- End of picture text -----
Notes to the Financial Statements for the Year Ended 31 December 2024
27
7 Grants payable
----- Start of picture text -----
Charitable Charitable
Activities in Activities in
Burundi Burundi
2024 2023
£ £
Grants to institutions:
Scripture Union 117,642 73,118
Youth for Christ Burundi 117,895 59,183
Partners Trust International 24,575 16,828
Harvest Initiatives 44,295 40,790
Evangelism Explosion 62,966 37,208
Burundi Mission Alliance 5,137 39,353
Union Des Groupes Bibliques Du Burundi (UGBB) 44,099 20,009
APRID 52,739 22,773
Antioch Foundation 8,218 3,153
Bravo Ministries - 50
Kings Conference Centre (Scripture Union) 15,274 59,322
Igniting Communities for Jesus 65,871 22,980
Heritage TV 48,595 33,720
Together for development 63,778 25,729
Rajedes 42,822 11,299
UCCD 118,640 162,966
YWAM 1,196 29,377
Aida Bleeding Dignity 11,477 11,477
Trans World Radio 32,630 20,988
World Outreach Initiatives 24,202 17,422
Green Land Alliance 28,050 13,852
RESTOBU 31,557
New Generation 81,918
Muhira Connect 31,584
Other 139,994 61,480
1,215,154 783,077
Grants to individuals 76,934 84,927
1,292,088 868,004
----- End of picture text -----
Notes to the Financial Statements for the Year Ended 31 December 2024
28
8 Support costs allocated to activities
| 2024 £ |
2023 £ |
|
|---|---|---|
| Staff costs | 270,318 | 252,490 |
| Depreciation | 1,684 | 472 |
| UK office administration | 61,223 | 55,812 |
| Audit Fees | 5,440 | 4,200 |
| Legal and professional | 22,133 | 9,415 |
| 360,798 | 322,389 |
9 Net movement in funds
| 2024 £ |
2023 £ |
|
|---|---|---|
| The net movement in funds is stated after charging/(crediting): | ||
| Fees payable for the audit of the charity's financial statements | 5,440 | 4,200 |
| Depreciation of owned tangible fixed assets | 2,272 | 1,274 |
| Loss on disposal of tangible fixed assets | - | 345 |
10 Trustees
No Trustee or any person connected with them received remuneration during the year (2023 - nil). Trustee, Susan Wilmot had the cost of her flight to Burundi, £366 reimbursed during the year (2023 - nil). Total donations received without conditions from Trustees and entities controlled by Trustees during the year were £44,026 (2023 - £53,862). Donations were received with the following restrictions during the year:
| 2024 £ |
2023 £ |
|
|---|---|---|
| CPIS | 1,500 | 3,000 |
| New Generation | 17,400 | 17,350 |
| Education, Skills and Opportunities | - | 510 |
| Together for Development | - | 1,625 |
| UCCD | - | 1,727 |
| Igniting Communities for Jesus | - | 9,425 |
11 Employees
The average monthly number of employees during the year was:
| 2024 Number |
2023 Number |
|
|---|---|---|
| Burundi | 4 | 4 |
| United Kingdom | 7 | 6 |
| Total | 11 | 10 |
Notes to the Financial Statements for the Year Ended 31 December 2024
29
11 Employees (Continued)
Employment costs
| 2024 £ |
2023 £ |
|
|---|---|---|
| Wages and salaries | 272,682 | 248,570 |
| Social security costs | 18,069 | 22,922 |
| Other pension costs | 9,760 | 9,221 |
| 300,511 | 280,713 |
During the year £83,136 (2023 - £74,657) was paid to key management personnel.
The number of employees whose annual remuneration was more than £60,000 is as follows:
| 2024 Number |
2023 Number |
|
|---|---|---|
| £70,001 to £80,000 | - | 1 |
| £80,001 to £90,000 | 1 | - |
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
| 2024 Number |
2023 Number |
|
|---|---|---|
| Aggregate compensation | 83,136 | 74,657 |
12 Other expenditure
| Unrestricted Funds 2024 £ Unrestricted Funds 2023 £ |
Unrestricted Funds 2024 £ Unrestricted Funds 2023 £ |
Unrestricted Funds 2024 £ Unrestricted Funds 2023 £ |
|---|---|---|
| Net loss on disposal of tangible fixed assets | 197 | 345 |
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Notes to the Financial Statements for the Year Ended 31 December 2024
30
14 Other gains and losses
| Unrestricted | Unrestricted | |
|---|---|---|
| Funds | Funds | |
| 2024 | 2023 | |
| Gains/(losses) upon: | £ | £ |
| Foreign exchange | 44,643 | (6,461) |
15 Tangible fixed assets
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Website Fixtures , Total
fittings &
equipment
£ £ £
Cost
At 1 January 2024 6,640 8,873 15,513
Additions - 2,637 2,637
Disposals (6,640) (787) (7,427)
At 31 December 2024 - 10,723 10,723
Depreciation and impairment
At 1 January 2024 6,640 5,899 12,539
-
Depreciation charged in the year 2,075 2,075
Eliminated in respect of disposals (6,640) (590) (7,230)
At 31 December 2024 - 7,384 7,384
Carrying amount
At 31 December 2024 - 3,339 3,339
At 31 December 2023 - 2,974 2,974
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16 Programme related investments
----- Start of picture text -----
Loans
£
At 1 January 2024 43,079
Loan increase 45,406
Amounts converted to grant (22,803)
Loan repayments (9,155)
At 31 December 2024 56,527
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The Charity makes social investment loans to partner operations in furtherance of the Charity's objectives. The Trustees are satisfied that making these loans constitutes programme investments that further the objects of the Charity. These loans are measured at historic cost adjusted each year for additions, repayments and impairment. No interest is charged on these loans, and loans are reviewed for recoverability on a regular basis. In accordance with the Charity SORP, these loans have been identified as social investments.
Notes to the Financial Statements for the Year Ended 31 December 2024
31
17 Stocks
| 2024 £ |
2023 £ |
|
|---|---|---|
| Finished goods and goods for resale | 5,617 | 6,539 |
The amount of inventories expensed during the year was £4,801 (2023: £4,551).
18 Debtors
Amounts falling due within one year:
| 2024 £ |
2023 £ |
|
|---|---|---|
| Other debtors | 123,250 | 72,915 |
| Prepayments and accrued income | 5,367 | 1,978 |
| 128,617 | 74,893 | |
19 Creditors: amounts falling due within one year
| 2024 £ |
2023 £ |
|
|---|---|---|
| Other creditors | 46,434 | - |
| Accruals and deferred income | 7,800 | 12,282 |
| 54,234 | 12,282 |
Notes to the Financial Statements for the Year Ended 31 December 2024
32
20 Restricted funds
The income funds of the Charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
----- Start of picture text -----
At 1 Incoming Resources At 31
January resources expended December
2024 2024
£ £ £ £
Youth for Christ - various projects 1,881 35,527 (33,894) 3,514
Antioch Foundation 195 2,405 (2,400) 200
YWAM - 996 (896) 100
New Generation 420 21,969 (20,920) 1,469
Partners Trust International 45 4,914 (4,544) 415
Igniting Communities for Jesus 770 20,852 (21,243) 379
Individual specific recipients 7,277 24,863 (30,460) 1,680
Other institutions 44,412 190,837 (163,542) 71,707
Education, Skills and Opportunities 95,215 59,495 (97,518) 57,192
Health 21,352 58,499 (19,506) 60,345
Memorial 2,343 250 (200) 2,393
Rapid response 3,303 11,094 (5,073) 9,324
177,213 431,701 (400,196) 208,718
----- End of picture text -----
Notes to the Financial Statements for the Year Ended 31 December 2024
33
20 Restricted funds (Continued)
----- Start of picture text -----
At 1 Incoming Resources At 31
January resources expended December
2023 2023
£ £ £ £
Youth for Christ - various projects 320 46,019 (44,458) 1,881
Antioch Foundation 195 2,400 (2,400) 195
YWAM - 16,832 (16,832) -
New Generation - 23,270 (22,850) 420
Partners Trust International 45 5,360 (5,360) 45
Igniting Communities for Jesus 770 16,709 (16,709) 770
Individual specific recipients 250 37,824 (30,797) 7,277
Other institutions 28,429 204,381 (188,398) 44,412
Education, Skills and Opportunities 53,943 44,302 (3,030) 95,215
Health 2,686 31,752 (13,086) 21,352
Memorial 2,472 1,850 (1,979) 2,343
Rapid response 2,400 2,142 (1,239) 3,303
91,510 432,841 (347,138) 177,213
----- End of picture text -----
All restrictions arise when specified by the donor or when funds are raised for a particular purpose.
Individual specific recipient funds are funds donated for specific individuals in Burundi.
Sufficient funds are held within current assets to ensure that all restricted funds can be administered.
The Charity raises funds for a variety of projects and communicates to donors that excess funds will either be directed to a cause fund, or to where the need is greatest.
GLO's four cause funds are:
-
Educations skill and opportunities - to support schools, access to computers, sewing machine training, soapmaking ventures, provision of microloans, etc.
-
Health - to support health related projects, such as medical initiatives, HIV clinics, sanitary towel provision, basic health insurance cards, etc.
-
Relief and development - to support initiatives that improve communities in the most desperate situations, such as providing secure homes, access to clean water, sustainable farming projects, etc.
-
Outreach and Discipleship - to support faith-based projects, media and printed resources, pastor training, rural outreach, student groups, children's Bible camps, etc.
Notes to the Financial Statements for the Year Ended 31 December 2024
34
21 Unrestricted funds
The income funds of the Charity include the following designated funds which have been set aside out of unrestricted funds by theTrustees for specific purposes:
----- Start of picture text -----
At 1 At 31
January Incoming Resources Gains and December
2024 resources expended Transfers losses 2024
£ £ £ £ £ £
- - -
Kings Conference Centre (47,044) 14,772 32,272
General funds 463,717 1,471,623 (1,311,512) - 44,643 668,471
416,673 1,471,623 (1,296,740) 32,272 44,643 668,471
At 1 At 31
January Incoming Resources Gains and December
2023 resources expended Transfers losses 2023
Previous year: £ £ £ £ £ £
- -
Kings Conference Centre (103,321) - 56,277 (47,044)
General funds 451,650 915,519 (896,991) - (6,461) 463,717
-
348,329 915,519 (840,714) (6,461) 416,673
----- End of picture text -----
22 Analysis of net assets between funds
----- Start of picture text -----
Unrestricted Unrestricted
funds funds Restricted
general designated funds Total
2024 2024 2024 2024
At 31 December 2024: £ £ £ £
- -
Tangible assets 3,339 3,339
- -
Programme related assets 56,527 56,527
-
Current assets/(liabilities) 608,605 208,718 817,323
-
668,471 208,718 877,189
----- End of picture text -----
Notes to the Financial Statements for the Year Ended 31 December 2024
35
22 Analysis of net assets between funds (Continued)
----- Start of picture text -----
Unrestricted Unrestricted
funds funds Restricted
general designated funds Total
2023 2023 2023 2023
At 31 December 2023: £ £ £ £
- -
Tangible assets 2,974 2,974
- -
Programme related assets 43,079 43,079
Current assets/(liabilities) 370,620 47,044 177,213 594,877
416,673 47,044 177,213 640,930
----- End of picture text -----
Within current assets is restricted cash of £190,128 (2023 - £170,354) which cannot be used for the general purposes of the Charity, as well as funds that have been designated by the Trustees totalling £Nil (2023 - £47,044).
23 Related party transactions
In addition to those transactions disclosed in notes 9 and 10, the following related party transactions occurred during the year.
Great Lakes Outreach (GLO UK) has a sister charity, Great Lakes Outreach US (GLO US), which operates in the USA. The charities operate autonomously, but are closely aligned, with both organisations running a number of campaigns jointly in Burundi. During the year, funds were received by GLO UK from GLO US totalling £217,606 (2023 - £56,738), funds were paid by GLO UK to GLO USA totalling £180,786 (2023 - £51,820) and grants made on behalf of GLO US totalling £32,503 (2023 - £520). The balance payable to GLO US at year end was £8,714 (2023 - £4,398)
24 Analysis of changes in net funds
The Charity had no material debt during the year.
25 Cash generated from operations
| 2024 £ |
2023 £ |
|
|---|---|---|
| Surplus for the year | 191,616 | 104,231 |
| Adjustments for: | ||
| Investment income recognised in statement of financial activities | (7,583) | (5,594) |
| Foreign exchange differences | 44,642 | (6,461) |
| Loss on disposal of tangible fixed assets | 197 | 345 |
| Depreciation and impairment of tangible fixed assets | 2,075 | 1,274 |
| Movements in working capital: | ||
| Increase in programme related assets | (13,448) | (14,992) |
| Decrease/(increase) in stocks | 922 | 3,676 |
| Decrease/(increase) in debtors | (53,723) | 57,913 |
| Increase/(decrease) in creditors | 41,952 | 3,472 |
| Cash generated from/(absorbed by) operations | 206,650 | 143,864 |
Notes to the Financial Statements for the Year Ended 31 December 2024
36