READ HORN OF AFRICA
Accounts & Reports
For the year ended 30 September 2021
READ HORN OF AFRICA
Contents
For the year ended 30 September 2021
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ report | 2-3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7-10 |
READ HORN OF AFRICA
Legal and Administrative Information
For the year ended 30 September 2021
Status: The organisation is a charity and a company limited by guarantee registered in England & Wales. Charity Number: 1098424 Company Number: 08906641 Registered Office & Business Address: 40A Maygrove Road London, NW6 2EB Trustees Mr John Kilvington - Chair/Director Mr Jama Abdullahi Isse - Member/Director Mr Shakoor Yousuf - Treasurer/Director Mr Said Abdi Dahir Jama - Member/Director Mr Abshir Yusuf Ahmed - Member/Director Ms Deqo Abdullahi Khalif - Member/Director Ms Hodan Ahmed Mohamed - Member/Director Bankers: Lloyds Bank Kilburn Branch 106 Kilburn High Road London NW6 4HY Accountants: Issa Associates Chartered Certified Accountants Suite 116, Cumberland House 80 Scrubs Lane London, NW10 6RF
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READ HORN OF AFRICA
Trustees’ Report
For the year ended 30 September 2021
Objective
The objective of Read Horn of Africa is to:
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Relief poverty and suffering and
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The advancement of education.
Legal structure
Read Horn of Africa is a company limited by guarantee and a registered charity with the Charities Commission in England & Wales.
Financial statements
The trustees submit their trustees’ report and financial statements for the year ended 30 September 2021.
Policies:
Reserve policy:
The charity currently operates with minimal reserves. The trustees are endeavouring to build up its donor base with a view to having reserves equal to 6 months operating expenditure.
Risk(s) review:
The trustees have recently reviewed the major risks faced by the charity. This has resulted in efforts to raise unrestricted funds and increase charity’s donor base.
Trustees Responsibilities
The trustees are responsible for keeping proper accounting records which disclose at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006.
The trustees oversee preparation of financial statements, select suitable accounting policies and make judgments and estimates that are reasonable and prudent to give the true state of affairs of the charity.
Trustees are also responsible for safeguarding the assets of the charity. They are elected and replaced as set out in the Memorandum and Articles of Association.
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READ HORN OF AFRICA
Trustees’ Report (continued)
For the year ended 30 September 2021
Activities and Achievements
The charity is managed by 7 elected trustee members, and is staffed by 11 volunteers.
The core of the charity’s work is to provide basic education and other supporting services for school age children and adults in remote areas in the Horn of Africa.
We built, run and maintained a school teaching years 1 to 12 for 1326 students between the ages of 5 and 21 with boarding facilities for 211 students. This school began in 2001 and is recognised by the authorities in the Puntland State of Somalia as the highest achieving school in the State and has been used as an example of the way forward. During the past year, due to the increasing number of students from the primary/intermediate school Read Horn of Africa built two extra classes with the help of an international charity, and also carried out much needed repair and maintenance work to the borehole that supplies water to the whole school and surrounding area of the town. Also, during the past year we refurbished and equipped the Bursalah Health centre which was a much needed facility as there are no other health facilities that are close or accessible to the town’s residents.
Funding
The charity was generously funded by members of the Somali Community Diaspora all over the world including communities in Europe, North America, Africa, Asia, Australia and New Zealand. Significant support has also been received from International Development Agencies including UNICEF, WFP and UNHCR. Read Horn of Africa wishes to thank all those organisations and individuals that have contributed to its work in kind or by financial assistance.
This report was approved by the board and signed on its behalf by:
Chair John Kilvington
Date: 15 February 2022
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READ HORN OF AFRICA
Independent Examiners Report
For the year ended 30 September 2021
I have examined the accounts on pages 5 to 6 which have been prepared on accruals basis.
Respective responsibilities of trustees and examiner
The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 43 of the 1993 Act;
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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
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such 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 examiner’s statement
In connection with my examination, no matter has come to my attention, which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 1993 Act, have not been met;
Date: 15 February 2022
Issa Associates Chartered Certified Accountants Suite 116, Cumberland House 80 Scrubs Lane London NW10 6RF
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READ HORN OF AFRICA LTD
Statement of Financial Activities
For the year ending 30 September 2021
| Notes Incoming resources From charitable activities 2 Investment income 2 Total incoming resources Resources expended Charitable activities 3 Governance costs 4 Total Resources Expended Less Adjustment Net resources for the year Fund balances at 30 September 2020 Fund balances at 30 September 2021 |
Unrestricted funds £ - - - - - - - - - |
Restricted funds £ 32,393 - 32,393 16,392 500 16,892 15,501 16,557 32,058 |
2021 2020 Total Total £ £ 32,393 23,433 - - 32,393 23,433 16,392 13,649 500 70 16,892 13,719 15,501 9,714 16,557 6,843 32,058 16,557 |
|---|---|---|---|
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READ HORN OF AFRICA LTD
Balance Sheet
For the year ending 30 September 2021
| Notes Fixed assets Tangible assets 6 Current Assets: Debtors Cash at bank and in hand Creditors:amounts falling due within one year 8 Net Current Assets Total Assets less current liabilities Funds of the charity: Funds balance at 30-09-2021 |
£ £ £ £ - - - - 33,386 16,557 33,386 16,557 (1,328) - 32,058 16,557 32,058 16,557 32,058 16,557 32,058 16,557 2021 2020 |
|---|---|
For the financial year 30 September 2021, the company was entitled to exemption from audit under s477 of the Companies Act 2006; and no notice has been deposited under s476.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and preparing accounts 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 profit or loss 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 accounts, so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies' regime. The financial statements on pages 1 to 6 were approved by the board and signed on their behalf by:
………………………………..
Date: 15 February 2022
J. Kilvington Chair
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READ HORN OF AFRICA LTD
Notes to the Accounts
For the year ending 30 September 2021
1 Accounting Policies
- 1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention, and have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (Revised SORP 2015) and the Financial Reporting Standard for Smaller Entities.
- 1.2 Incoming Resources
Grants and donations are recognised on accruals basis.
Incoming resources are reported gross.
- 1.3 Resources Expended
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
- 1.4 Depreciation
Tangible fixed assets are stated at cost less depreciation.
Provision for depreciation of tangible fixed assets held by the charity is made at an annual rate of 25% on straight line basis.
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READ HORN OF AFRICA LTD
Notes to the Accounts
For the year ended 30 September 2021
| 2. Grants and Donations Donations from members Other charity income 2. Investment Income Interest receivable Total Incoming Resources |
Unrestricted Funds £ - Unrestricted Funds £ - - |
Restricted Funds £ 32,393 - 32,393 Restricted Funds £ - 32,393 |
2021 Total £ 32,393 - 32,393 2021 Total £ - 32,393 |
2020 Total £ 23,433 - |
|---|---|---|---|---|
| 23,433 | ||||
| 2020 Total £ |
||||
| - | ||||
| 23,433 |
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READ HORN OF AFRICA LTD
Notes to the Accounts
For the year ending 30 September 2021
3a. Direct Charitable Expenditure
| Notes Unrestricted Funds £ School running costs 6 - - 3b. Support Costs Unrestricted Funds £ Postage & stationery - - - - Total Charitable Activities - 4. Governance Unrestricted Funds £ - - Total Resources Expended - Legal and Professional Depreciation Sundry expenses |
Restricted Funds £ 16,254 16,254 Restricted Funds £ 18 120 - 138 16,392 Restricted Funds £ 500 500 16,892 |
2021 Total 2020 Total £ £ 16,254 13,510 16,254 13,510 2021 Total 2020 Total £ £ 18 79 120 60 - - 138 140 16,392 13,649 2021 Total 2020 Total £ £ 500 70 500 70 16,892 13,719 |
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READ HORN OF AFRICA LTD
Notes to the Accounts
For the year ending 30 September 2021
| 5 Tangible Fixed Assets 6 Teachers & assistant salaries Boarding school meals Boarding school premise expenses 7 Creditors – Amounts falling due within one year Cost At 1 October 2020 Additions Other Creditors At 30 September 2021 Charged in the Year At 30 September 2020 Depreciation Net Book Value At 30 September 2021 Bursalah School running costs At 30 September 2021 At 1 October 2020 |
Office Equipment Total £ £ 230 230 - - 230 230 230 230 - - - 230 230 - - - - 2021 2020 £ £ 10,971 9,119 3,251 2,704 2,032 1,686 16,254 13,510 2021 2020 £ £ 1,328 - 1,328 - |
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