Charlty Registratlon No. 1102474
Company Registrdtlon No. 05047081 (England and Wales)
THE QUICKEN TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Caladine
Chartered Certified Accountantrs

THE QUICKEN TRUST
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
Mr S N Bamett- Chairman
Miss M S Bamett
Mrs J Rowlinson
Mr P Rowlinson
Office manager
Mrs J Rowlinson
Charlty number
1102474
Company number
05047081
Prlnclpal address
Sheriff Place
2b Market Square
Hailsham
East Sussex
BN27 1AG
Reglstered offlc•
Chantry House
22 Upperton Road
Eastbourne
East Su55ex
BN211BF
Independont examlner
John Caladine FCCA CTA FCIE
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN211BF
Bankers
CAF Bank Ltd
25 Kings Hill
West Malling
Kent
ME19 4JQ
HSBC
94 Terminus Road
Eastbourne
East Sussex
BN213ND
Sollcltors
Mayo INynne Baxter
3 Bell Lane
Lewes
East Sussex
BN7 1JU

THE QUICKEN TRUST
CONTENTS
Page
Trustees, report
statement of Trustees, responsibllities
Independent examinerfs report
10
Statement of financlal activitie8
11
Statement of financial poslts'on
12
Notes to the flnancial ststements
13-22

THE QUICKEN TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's Memorandum and Articles of Association, the Companies A
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)"
Objectlves and actlvltles
The charity's objects as defined in its Memorandum and Articles of Association are.
a) to advance the Christian faith in such parts of the world as the trustees 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.
b) to relieve persons are in conditions of need or hardship or who are aged or sick and to relieve the distress
caused thereby in such parts of the world as the trustees may from time to time think fit.,
c) to advance education in accordance with Christian prlnciples by such means as the trustees may consider
appropriate Including by means of establishing and operating any educatlonal establishment or establishments in
such parts of the world as the trustees may from tlme to time think fit.
The primary Y￿rk of the trust 18 SUPPOrtlng the work of the Kabubbu Development Project {KDP). This is
company registered in Uganda as a company limited by guarantee 8nd also registered as an NGO (Non
Government Organisation). There is a separate Uganda Quicken Trust registered as a company lirnited by
guarantee and an NGO, but thi5 is not currently operational.
The KDP own the land and construction works carried out within the Kabubbu village which are for the benefit of
the whole community.
Both the KDP and Quicken Trust are involved In the relief of povety, schooling, health and other needs In the
Kabubbu village area.
Achlevements and performan¢0
2023 - 2024 has been a year of consolidation for the work in Kabubbu. The project is comparatlvely large wlth
about 150 staff in all departments and as with every organizats.on undergoes, from time, an a55essment of where
It is in relation to its mission, vision and goals and objectives. Funders change for a myriad of reasons and often
when grants are received they are for 'capital' projects but no fund5 to support the ongoing cost. This is where
general fund raising comes in and is also where there is (in human terms)18ss funding available.
Success breeds success and the miracle that is Kabubbu and the KDP has encouraged new housing Into the
area, other small businesses and enterprises with their sertsice requirement but many of these see themselves
separate from a poorer community. A UN official and a prominent politician have built houses in Kabubbu but are
yet to be seen mixing with the local community. Other schools that have been buiSt in the area due to the
population increase and now compete with Kabubbu primary school and the Trust High school for pupil places
but the KDP schools were built primarily for children of the poor in Kabubbu and this continues to be the core
population they serve.
Povety is still the main underlaying issue and despite the work undertaken the verse in scripture that tells us,
°The poor you will always have with you" still rings true. Yet poverty is not just in education but in health and
nutrition, social education, sexual health, general and personal health, farming techniques methods and food
processing and management along wth a whole host of other areas. The work still has much to do and many
miles to travel and continues to bless those who were viithout hope and to call upon our brothers and sisters that
do have means.
In a country where there is much corruption, theft, gang culture and money is scarce for many and a 'god' to
many more, the work is seen as a beacon and a target. We serve an infinite God and so our trust continualty is
in Him to supply and protect.

THE QUICKEN TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Last year was a tough year but also a year of gainin9 ground. Paul Pirie had departed the year before and the
Quicken Trust reformed with the limited staff and financial resource. This was not a lack of faith but of setting our
house in order. The new CRM database (under the excellent and detailed work of Janet Rowlinson) was up and
wnning with all records transferred and the greater visibility and ease of managing data beginning to show
benefit. A reduction in the number of entries, automats'on of much of the donor funds, emailing donors and
funders with sponsored child records and photo's and direct access to the required areas for the Quicken Trust
Admin stsff in Kabubbu to directly input records has been a major step forward.
A new accounting system was procured and configured so that it provides much clearer financial records.
reducing both the time the 'year end, takes to complete and reduces the related cost. The accounts system also
links into the CRM database so that financial information can be automats'cally allocated to sponsor and funder
records.
This is a great achievement and we are now seeing the benefit of an enormous amount of hard work.
The Quicken Trust continues to send funds to the KDP on a monthly basis which enables them to function better
though funds are tight. The Quicken Trust continues to see a drop in monthly child sponsorship through old age,
financial hardship and death and so it is urgent that we tell the story of Kabubbu to as many as we can to raise
general funds, appeal funds, grants and sponsorship. Sponsorship is the critical area as this directly affects the
number of children we can support and we now have a primary school intake of children with no or very little
sponsorshlp and so we seek ta provide money from fundraising, 'Friends' of Qulcken Trust, and general funds.
The complets'on of the refurbishment of the Bandas now means that the resort centre c8n take paylng guests and
the Quicken Trust can begin to plan for parties to travel to Kabubbu and will be inviting people to do just that.
Performance & Fundralsing
Performance is always difficult to gauge. Although funds have been more scarce, we have seen in increase in
our giving to Kabubbu for we which we thank God.
The Christmas appeal saw £33,073 raised, providing blankets and mosquito nets for all primary and junior school
children.
110 Christmas Cakes
219 Christmas Dinners
83 X 25kg Maize
62 X 50 kg Maize
487 Mosquito netslblankets
Funds towards a new Primary School classroom
Funds from savings made in the UK was allocated for the afore mentioned Bandas to be refurbished with roofs
replaced with tiled roofs that will last a long time.
Funds to build a new primary school classroom were raised through the Christmas appeal and school
Skipathons. A live streamed 'skipathon' between the children of Kabubbu primary and three UK primary schools
raised funds that saw the target reached to be able to build the new primary school classroom.
Bates Garden fundraiser saw a team of Quicken Trust volunteers and sUPPOrters supply tea, coffee, cakes and
gifts to the general public with the owners allowing Quicken Trust to keep all of the proceeds for the work in
Kabubbu.
Guernsey Overseas Aid & Development Commission. A grant was applied for and, although funds will be in nexi
years accounts, wa5 awarded for the building ofthe new girls domiitory at the Trust High School.
£20,000 was raised to send two young girls to India for life-saving open heart surgery. It also supplled their
medication, the younger child Clara will be returning to India Shortly for follow up surgery.
Fund-raising could always be better and we are stepping up our applications as there is a great need for general
funds and also for projects dealing with dilapidats-on, salaries, Health Centre growth, Vocational Centre Training
course expansion and development and new teaching and pupil equipment for the Trust High School, not to
mention the urgent need to upgrade the internet connection.

THE QUICKEN TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Primary education
Primary education continues with an influx of new students but not always the sponsorship to cover them. The
enrolment from baby to primary seven totalled 512 and comprised of 434 from baby class to primary six and 78
candidates, however, 21 did not write the end of year 2023 final exams due to school fees issues. Fees can still
be a challenge for many who still struggle with day to day survival.
The pupils were subject to hfo sets of exams each term, being Mid and End of term exams.
The performance of all dasses from P1- P7 was as follows..
PARTICULARS
P.L.E
FINAL
FINAL
FINAL
FINAL
DIVI
02
DIV2
37
DIV3
21
Ill
07
DIV4 DIVU
06
11
11
13
07
04
02
17
03
04
',Tot*l '
137
.56
47
Table 1 SHOWING CLASS PERFORMANCE FROM P.1.P.7 IN 2023
DIV X Total
01
78
01
50
02
54
54
59
53
05,
1 15
16-
13
17
18
14
05
12
02
03
04
03
03
IP.2
FINAL
FINAL
12
14
$90
OTHER ACTIVITIES
a) Sklll Development:
Children of the school partlGipated in various co-curricular activities that included-.
Kids athletics
Ball game5 (Football, netball and handball).
Other boys and girls participated in a handball tournament that was organized in Bombo {Luwero district). They
perfomed very well, as both boys and girls were 1 st respectively.
b) Parenting meetlngs
Four parenting meetings were held in total. Three were held at school and one at Kabubbu Community Church. A
child protection seminar was organized for the parents of KCPS and over 150 parents attended.
c) Health Educatlon:
A team from Mulago visited the school and children were educated on how to care for teeth.
Trust Hlgh School
THS is a mixed day and boarding senior secondary school providing all round education to its benefsciaries and
inclusive of extra-curricular engagements to which it excels as wel5.
staff Strength
THS concluded the year 2023 with a staff strength of 49 in total. 37 (of which 10 were female and 27 male)
teaching staff and 12 (being 6 female and 6 male) support staff.
student Enrolment
This has been a tough year for student enrolment due to other compets-ng High Schools. THS was never about
making a profit but rather providing opportunity, but several factors have coincided to make it more difficult to
enrol Students. Apart from competition, finding School fees for those without sponsorship continues to be difficult
where povety abounds.
Better focused and increased marketing is underway, and we trust God that pupil numbers will increase giving
those who would otherwise never have education and the opportunities it brings, to have a future.

THE QUICKEN TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The school had a total population of 382 students with 182 males against 200 females. S.1 registered 79
students in total, S.2 had 76, S.3 67, S.4 enrolled 69 and S.5 & 6 has shown in the table and figure below.
CLASS
MALE
38
31
23
35
36
FEMALE
41
45
44
34
20
16
TOTAL
79
76
67
69
56
19
35
182
200
382
Table2: THS Student Enrolment for 2023
THS ENROLMENT FOR 2023
rtAI r ￿￿rr￿lA1 r
70
JJ
Flgure 1 THS Enrolment for 2023
Academlc Affairs
The school registered students for both UCE and UACE examinations in 2023 with 76 students in senior four and
48 in senior six.
UCE Perfomiance
76 students were registered for UCE 2023 examinations and their performance was 20 scoring division 1, 26
division11, g division111, 18 division IV and 3 had no grade as depicted by the following table and graph-
Numb•r of Stud•ntS
Dlvislon
20
26
18
76

THE QUICKEN TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
UACE Results
THS registered 48 students for UACE examinations done in 2023 and the results were encouraging with over
500A of students earning 10 or more points.
The table and figure below provide the details of performance of the UACE examinations:
NIJM8F.R OF STLIDENTS
SCORES
19
17
16
15
14
13
12
li
io
THS UACE RESULTS FOR 2023
• NUMBER OF STUDENrs
• SCORESIPOINTS
19
17
16
16
Is
14
14
13
12
li
io
io
9 10 11 12 13 14 15 16
NIIMBÉR OF STUDENIS
Flguwe 4 SHOWING LIACE PERFORMANCES FOR 202J
Tertlary Educatlon.
Tertiary education comprises both vocational education conducted intemally through the Font Hill Vocatlonal
Institute (FVI) and external courses at instltutions not under KDP control.
Fonthlll Vocatlonal Instltute offers certificate courses to level 11 in halrdressing, cosmetics and beauty
treatments, ITlcomputer engineering, catering, fashion and design, electTic81 insl8llation and now also basic
motor mechanics.
FVI enrolled seventy-seven {77) students. fifty- two (52) female, twenty-five (25) male, twenty-tr￿ (22) sponsored
and fifty-five (55) non-sponsored.
Of the seventy- seven (77) students, ￿enty-One (21) students completed their course during 2023 and nine (9)
dropped out due to financial issues therefore, a continuing Student's number of forty- seven (47) students is
anticipated for 2024.
students who completed thelr courses:
As indicated above, twenty one (21) students completed their courses. Sixteen (16) female and five (5) male
students. Ten (10) sponsored and Eleven (111 non-sponsored students.

THE QUICKEN TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Skilling:
students acquired a varfety of skills, for example., plaiting, weaving, pedicure manicure, guest table laying,
preparation of different food dishes, electricity installation in the building, pole climbing for electric cable
installation, phone repairing, making different outfits and many others.
Tralning Materlal Provlslon:
Sponsored students were provided with all the practical materials required for their courses and this helped the
college teaching staff deliver the practical package as planned.
Kabubbu Health Centre
The Health Centre has continued to provide first-class affordable healthcare throughout another extraordinary
year that has seen it's promotion to a 'Leve14' Health centre, one level below a hospital. This is remarkable as it
has very little government funding but has been blessed wth annual grant5 from other extemal funders, one of
which is coming to an end.
The Health Centre now needs to look at a new, better designed and provisloned building. A very major project
that is complex in very many ways 8nd requires an extraordinary level of funds.
The following table shows the growth in the health Centre over the years and indicates clearly the reason why
new
remises are re
uired.
2020
021
2022
2023
ears
Patient number8
10,440
13,287
15,264
0,820
2S.000
20.000
15.DOO
10.000
5.000
1020
2021
2022
Yeors
The graph above shows that patient numbers have been increasing over the last four years. As a result, the
Income and from the Health Centre has also been on the increase. This is movin9 in the right direction and
needs to be sustained.
Welfare Programmes
The Welfare department is fully funded by donation5 and a number of achievements were registered in 2023
under different activities lines.
461 family visits were conducted, among whom 250 elderly and community people were visited
Under the Street Business {SBS) Programme, 123 participants V￿re trained and graduated. out of vthom
nurnber have started their small businesses.
10 BS participants were given small grants to boost their businesses.

THE QUICKEN TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financlal revlew and reserves
Included within restricted reserves are legacies and advance payments (includes annual donations being sent
monthly} circa £69k, Appeal Funds £18.5k (£11,235 was nursery classroom, since sent), SBS Grant fund £2,759,
Graze Famiing Budget £6,449.
The Trust is dependent upon Almighty God to provide all its needs. However, as a matter of best practice The
Trust does seek to hold reserves to cover operating costs in the event of a significant fall in General fund giving
equivalent to a level of at least 3 months core operating expenditure. Follo￿￿ng a generous gift to the charity in
2019120 a specific reSe￿e fund was established of £25.000 to cover this.
There was a surplus on unrestricted funds for the year of £1,053 (2023: deficit of £16,974) leaving a balance of
unrestricted reserves carried foTward of £23,757. There was a surplus on restricted funds for the year of £57,288
(2023.. surplus of £14,626) leaving restricted reserve5 carried forward of £127,687. The surplus on restricted
funds represents donations received for specific beneficiaries in Kabubbu for which the expenditure has not yet
been Incurred.
The over811 result for the year was a surplus of £58,341 (2023: deficit of £2,348) leaving total funds carried
fO￿ard of £151,444.
Publlc beneflt
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Rlsk Factors
The Trustees contlnually assess the major business and operational risks which the tharity faces and are
satisfied systems are in place to enable regular reports to be produced so that necessary steps can be tsken to
mitigate exposure to those risks.
Structure, governance and management
The charity is a company limited by guarantee which was incorporated in England and Wales on 17 February
2004, and is govemed by its memorandum and artides of association.
The Trustees, who are also the directors for the purpose of company18w, and who served during the year and up
to the date of signature of the financial statements were:
Mr S N Bamett- Chairman
Miss M S Barnett
Mrs J Rowlinson
Mr P Rowlinson
Trustees are elected by the members by a majority vote in general meetings.
New Trustees are identified as those with sufficient ski118 to Serve the work of the Trust both from a business and
spiritual perspective. Suitable induction and training is provided as required.
None of the Trustees has any beneficial interest in the company.
Trustees are approaching new people with the necessary skills to support the work: particularly with legal,
financial and fundraising skills concerning charitable twsts.
The day to day management of the Trust was undertaken by Mrs J Rowlinson. Trustee together with support staff
who report to the Board of Trustees.
Asset cover for funds
Notes 16 to 18 sets out an analysis of the assets attributable to the various funds and a description of the trusts.
These assets are sufficient to meet the charity's obligats-ons on a fund by fund basis.

THE QUICKEN TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees, report was approved by the Board of Trustees.
Mr S N Barnett- Chalrman
Trustee
Dated.. 1510912024

THE QUICKEN TRUST
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees, who are also the directors of The Quicken Trust for the purpose of company law, are responsible for
preparing the Trustees, Report and the flnancial 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, induding
the income and expenditure, of the charitable company for that year.
In preparing these financial ststements, the Trustees are required to:
select suitable accountlng policies and then apply them consistently.
observe the methods and prlnciples In the Charities SORP;
make judgements and estimates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any material departures
dlsclosed and explained in the financial statements-, and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operats-on.
The Trustees are responslble for keeping adequate accounting records that disclose wlth reasonable accuracy at
any tlme the financial position of the chariiy and enable Ihem to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charlty and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularllies,

THE QUICKEN TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE QUICKEN TRUST
I report to the Trustees on my examination of the financial statements of The Quicken Trust (the charity) for the year
ended 31 March 2024.
Responsibllltles and basls of report
As the Trustees of the charity land also its directors for the purposes of company lawl you are responsible for the
preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006
Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of
the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's
financial statement5 carried out under section 145 of the Charits'es Act 2011 (the 2011 Act). In carrying out my
examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b)
of the 2011 Act.
Ind8pendent examina￿S statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section
145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of tha
Association of Chartered Certified Accountants. which is one of the listed badies.
I have completed my examination. I confirm that no matters have come to my attention In connection with the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect ofthe charity as required by section 386 of the 2006 Act. or
the financial statements do not accord with those records., or
the financial statements do not comply with the accounts'ng requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a true and fair vlew which is not a matter considered as part of an
Independent examination., or
the financial statement5 have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 102).
I have no concerns and have come across no other matters in connection wth the examination to which attention
should be drawn In this report In order to enable a proper understanding of the financlal statements to be reached.
John Caladlne FCCA CTA FCIE
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Su55ex
BN211BF
10-

THE QUICKEN TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrlctsd Restricted
funds
funds
2024
2024
Total
Unrestrlcted Restricted
funds
funds
2023
2023
Total
2024
2023
Notos
Income from:
Donations and
legacie5
Charitable activities
Investments
84,838
312,404
945
397,242
945
2,569
76,184
325,021
401,205
2,569
617
617
Total income
87,407
313,349
400,756
76,801
325,021
401,822
endlture on:
Raising funds
17,705
17,705
35,105
35,105
Charitable activities
68,649
256,061
324,710
48,670
320,395
369,065
Total oxpendlture
86,354
256,061
342,415
83,775
320,395
404,170
Gross transfers
bel￿een funds
18
(10,000)
10,000
Not Incomel(expendlture)
for the yoarl
Net movement In funds
1,053
57,288
58,341
(16,974)
14,626
(2,348)
Fund balances at 1 April
2023
22,704
70,399
93,103
39,678
55,773
95,451
Fund balances at 31
March 2024
23,757
127,687
151,444
22,704
70,399
93,103
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
The ststement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
11

THE QUICKEN TRUST
STATEMENT OF FINANCIAL POSITION
ASAT31 MARCH 2024
2024
2023
Notes
Current assets
Trade and other receivables
Cash at bank and in hand
13
26,000
146,618
25,156
93,497
172,618
(21,174)
118,653
(25,550)
Current Ilabllltles
14
Net current assets
151,444
93,103
Income funds
Restricted funds
Unrestricted funds
16
127,687
23,757
70,399
22,704
151,444
93,103
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 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statement3 for the year in question
in accordance with section 476.
These financial statements have been prepared in accordance vAth the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the Trustees on .
Mr S N Bamett- Chaimian
Trustee
Company Reglstratlon No. 05047081
12-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policles and practices
Company Infomiatlon
The Quicken Trust 15 a private company limited by guarantee incorporated in England and Wales. The
registered office is Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 18F.
1.1 Accounting conventlon
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 Iheir 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 defineij by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared In sterling, which is the functional currency of the charity. Monetary
amounts in these financlal statements are rounded to the nearest £.
The financlal statements have been prepared under the historlcal cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng 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 exlstence for Ihe foreseeable luture. Thus the Trustees
continue to adopt the going concern basis of accounting in preparlng the financlal statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
1A Income
Gifts, d￿ationS, legacies and other forms of voluntary income are recognised as incoming resources when
received, except insofar as they are incapable of financial measurement. Donations and grfts towards
accommodation and other costs for those visiting Kabubbu are recognised on receipt of the money. Grfi Aid
Tax recovered under gift aid is accrued within the accounts as received and credited to the General fund.
Monies recelved for travel flights from those travelling to Kabubbu to provide support services and for
educational visits are recognised when the trip takes place as is the correspondlng expenditure. Where
monps are received in the period prior to the trip they are deferred and released In the following year when
the trip takes place.
1.5 Grant making pollcy
The Trust support fully the KDP, the Kabubbu village in Uganda. Grants are made upon the request of the
KDP for the various projects at the Health Centre, Schools, orphans, welfare and the community Church
building and other smaller projects from time to time.
13-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policles and practices (Continued)
1.6 Expenditure
ExP￿dItUre 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.
Expend'ture 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. D1￿ct costs attributable to a single
activity are allocated directiy to Ihat aclivlty. Shared costs which contribute to more Ihan 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.
Expenditure is included on an accruals basis and allocated to the appropriate cost centre. Expenditure for
charitatde activities includes grants given, other direct charitable costs such as the direct costs of groups
visitlng Kabublw to provide support and the purchase of equipment, and the support costs in carrying out the
activities such as administration. In addition, there are cost centres for fundraising and governance costs.
which are the costs incurred in the strategic management of the charity and of complying with constitutional
and statutory requirements,
Direct cost8 are allocated to the appropriate fund. Support costs are not apportioned but are all related to the
Community Development fund.
1.7 Propertyi plant and aqulpment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation.
net of depreciation and any impairment losses. It is the policy of the trust to write off all items below £1,000 to
the SOFA.
Depreciation Is recognised so as to write off the cost or valuatlon of assets le5S their resldual values over their
useful lives on the following basis..
Computers and equipment
33.3% on a straight line basis {fully depreclated)
The gain or loss arlsing on the disposal of an asset Is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call wilh 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 Flnanclal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, of FRS 102 to all of
its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contradual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
14-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcios and practices (Contlnued)
Basic flnanclal assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially
measured at transaction price including transaction costs and are subsequently carried at amortised cost
using the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabllities
Basic financial liabilities, including trade and other payables and bank loans are initially recognised at
transaction price unless the arrangement constitutes a financing transaction. where the debt instrtjment is
measured at the present value of the future payments discounted at a market rate of interest. Flnancial
liabilities cla83ifled as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, uslng the effective Interest rate method.
Derecognltion of flnancial liabllities
Financial liabilities are derecognised when the charity's contractual obligations explre or are discharged or
cancelled.
1.10 Employee beneflts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide termination benefits.
1.11 Retlrement benoflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Crltlcal accountlng astlmatas 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 underfying assumptions are reviewed on an ongoing basls. Revisions to accounting
estlmates 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.
15-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donations and legacles
Unrestrlcted Restrlctsd
funds
funds
Totsl Unrestricted Restricted
funds
funds
Total
2024
2024
2024
2023
2023
2023
Donats'ons, grants and
gifts
Legacies re¢eivable
84,838
312,404
397,242
76,184
294,196
30,825
370,380
30,825
84,838
312,404
397.242
76,184
325,021
401,205
Donatlons, grants and
glfts
General donations
Education
Welfare
Health
Holding future us8
Matched funding
Recovery & emergency
Enterprise development
Appeals
Gift aid refunds
26,269
39,189
137,843
40,929
21,600
54,012
12,500
5,331
1,000
65,458
137,843
40,929
21,600
54,012
12,500
5,331
1,000
26,347
11,879
159,198
45,109
28,075
38,226
159,198
45,109
28,075
21.500
3,995
3,225
21,215
21,500
3,995
3,225
21,215
49,837
58.569
58,589
49,837
84,838
312,404
397,242
76,184
294,196
370,380
Charitable activltle8
2024
2023
Kabubbu visiting fund
Income from investments
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Interest receivable
2,569
617
16-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Ralsing funds
2024
2023
Fundraisin
and ublicit
Promotional and markets.ng costs
Stsff costs
8,635
9,070
9.184
25,921
Fundraising and publlcity
17,705
35,105
Charltabl• actlvltle8
2024
2023
Grant funding of activities (see note 8)
284,842
322,795
Share of support costs (see note 9)
Share of governance costs (see note g)
36,372
3,496
41,415
4,855
324,710
369,065
Analysls by fund
Unrestricted funds
Restricted funds
68,649
256,061
48,670
320,395
324,710
369,065
rants payable
2024
2023
Grants to KDP
General gifts and donations (Unrestricted)
Education
Welfare
Health
General gifts and donations (Restricted)
26,146
142,990
45,480
28,657
41,569
2,400
172,621
47,924
30,254
69,596
284,842
322,795
17-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support Costs allocated to activltles
2024
2023
Staff costs
Staff healthcare, welfare and training
Staff travelling and Motor expenses
Office rent and utilities
Insurance
Printing, postage, stationery and phone
Website and IT maintenance
Bookkeeping services
Property and equipment maintenance
Collection agency costs
Miscellaneous expenses
Govemance costs
20,221
27,329
(652)
46
4,793
885
2,080
3.945
783
102
16
5,508
442
3,623
4,022
1.627
913
3.496
740
4,855
39,868
48,270
Anal sed tse￿een:
charitable activities
39,868
46,270
2024
2023
Governance Gosts comprlse:
Accountancy and payroll
Independent examination
Other professional fees
Bank charges
1,800
1,200
2,029
1,200
1,080
496
3,498
4,855
10 Trustses
None of the Trustees (or any persons connected with them) received any remuneration from the charity during
the year.
Further details of transactions with trustees are provided in Note 20 related paty disclosure.
The aggregate amount of donations received from the Trustees and related parties wrthout conditions was
£34,388 (2023.. £19,657).
18-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Employees
The Trust is wonderfully served by volunteers and some administrats've work has been outsourced. The value
of volunteers in the UK office and those who travel from time to time and work in the Kabubbu village are
impossible to quantify in material tems.
The average monthly number of full and part time employees during the year was..
2024
Number
2023
Number
Support staff
Employment costs
2024
2023
Wages and salarles
other pension costs
28,459
832
51,942
1,308
29,291
53,250
There were no employees whose annual remuneration wa5 more than £60,000.
12 Taxatlon
The Quicken Trust is a registered charity and it is considered that Its charitable activities are exempt from
United Kingdom Taxation.
13 Trado and other recolvabl
2024
2023
Amounts falllng due wlthln one year:
Other receivables
Prepayments and accrued income
24,860
1,140
24,258
900
26,000
25,158
14 Current Ilablllties
2024
2023
Not05
other taxation and social securty
Deferred income
Other payables (KDP)
Accruals
381
15
2,635
20,155
2.780
18,393
2,400
21,174
25,550
19-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Deferred Income
2024
2023
Arising from Kabubbu travel manies received in
advance
2,635
Deferred income is included in the financial statements as follows:
2024
2023
Deferred income Is included within:
Current liabilities
2,635
Deferred income at 1 April 2023
Released from previous periods
2,635
(2,835)
2,635
Deferred income at 31 March 2024
2,635
Income received from delegates who will take part in trips to Kabubbu in the next financial year are carried
forward as deferred income and released to the Statement of Financial Activities (SOFA) in the year in which
the trip take5 ￿aCe. Of the £2,635 deferred income brought forward from the comparative period £nil was
related to trips which took place during Ihis financial year. The amount was written back to Statement of
Financlal Activities in the year with the agreement of the donor as the trips were longer going ahead.
16 Restrlcted funds
The restrlcted funds of the charlty comprise the unexpended bal8nGes of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
Movement In funds
Incomlng
Rejources
resources
¢xpended
Bolance at
1 April 2023
Tran$f•r•
Balan¢• •t
31 March 2024
Kabubbu Community Development fund
Reserve fund
Match funding fund
45,399
25,000
300,849
(243,561)
102,687
25.000
12,500
(12,500)
70,399
313,349
(256,061)
127,687
-20-

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Restricted funds (Continued)
Movements for the year 8nded 31 March 2023
Movement In funds
Incomlng
Resources
resources
expended
8alance at
1 Aprll 2022
Transfer8
Balance at
31 March 2023
Kabubbu Community Dgvelopment fund
Reserve fund
Match funding fund
30,773
25,000
303,521
(298,8951
10,000
45,399
25,000
21,500
(21,500)
55,773
325,021
1320,395)
10,000
70,399
Kabubbu Communlty Development fund
This fund is for monies received for the Kabubbu Development Project which go towards the various Kabubbu
projects, including Education, Welfare, Orphan Family Support and Health or to be spent more generally in
Kabubbu for its development.
Reserve fund
A sum of money put aside as a reserve fund to enable Sufficient monies to be available to meet its legal
requirejnent in the event of the Trust closing down. In 2024 the reserves have reduced to £17,000 as £8,000
was sent to Kabubbu.
Match Fundlng fund
This fund represents Matched funding from Summer and Christmas appeals to be distributed to Kabubbu.
17 Analysls of net assets botween fund•
Unrestrlcted
funds
2024
Restrlcted
funds
2024
Total
2024
At 31 March 2024:
Current asset511liablllties)
23,757
127,687
151,444
23,757
127,687
151,444
Unrestrlcted
funds
2023
Restrlcted
funds
2023
Total
2023
At 31 March 2023:
Current assetsl(liabilities)
22,704
70,399
93,103
22,704
70,399
93,103
21

THE QUICKEN TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Deslgnated funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Movement In funds
Ineomlng
Resources
Balance at
rnsourcos
expanded 31 March 2024
8al•nco at
1 Aprll 2022
R8sourc
expèndod
Transfers
Balance at
1 Awll 2023
Trav81 bond
10,000
(10,000)
Travel bond
The Travel Bond fund was transferred to the Community Development fund in 2023 to meet cash flow needs
as this was considered unnecessary to have set aside.
19 Operating lease commllments
At the reporting end date the charlty had outstanding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows..
2024
2023
Vththin one year
Between two and five years
3,600
2,400
3,600
8,000
6,000
9,800
20 Related party transactlons
Transactlons wlth related partles
During the year the charity entered into the following transactions with related parties:
IT Hardware, Software and
Support
2024
2023
Company controlled by a Trustee
239
280
239
280
-22-