2024-03-31-accounts

Bread and Water for Africa UK

(A company limited by guarantee)

Registered Charity Number: 1103138

Company Number: 05043252

Financial Statements for the year ended

31 March 2024

BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

CONTENTS

	Page
Trustees Report	1
Auditors Report	9
Statement of Financial Activities	12
Balance Sheet	13
Cash Flow Statement	14
Notes to the Accounts	15

1

BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

COMPANY INFORMATION

Registered Charity Number:	1103138
Company Number:	5043252
Registered Office:	33 Creechurch Lane
	London
	EC3A 5EB
Trustees & Directors:	Street Child
	Anthony Wallersteiner
	Mr C. Queree (Resigned 31stMarch 2024)
Auditors:	Moore Kingston Smith LLP
	9 Appold Street
	London
	EC2A 2AP
Bankers:	The Cooperative Bank
	PO Box 250
	Skelmersdale Greater Manchester WN8 6WT

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BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

TRUST

REPORT

The Trustees are pleased to present their report together with the financial statements for the year ended 31 March 2024. The information shown on the previous page forms a part of this report.

SCOPE OF THE CHARITY

Mission and Objectives

The main objectives for the year to 31 March 2024 continued to be the relief of poverty and sickness, the advancement of education, and the promotion of social and economic development in Africa with a focus on longterm programmes that make it possible for communities to develop their own sustainable solutions. Bread and Water for Africa UK was established to pursue these objectives within Africa, particularly but not exclusively, by working with and assisting members of local populations to build viable livelihoods, encouraging self- reliance, and supporting sustainable projects initiated by them.

Acquisition by Street Child

Bread and Water for Africa became part of the Street Child family with the acquisition finalised on 1[st] April 2023 when Street Child became corporate Trustee of Bread and Water for Africa.

Street Child believes that every child deserves the chance to go to school and learn. They understand the vital role of education in ending poverty and operate in Kenya and Sierra Leone and in many other countries across Africa and Asia including Democratic Republic of Congo, Liberia, Ghana, Cameroon, Burundi, Nigeria, Uganda, Somalia, South Sudan and Mozambique.

Street Child and Bread and Water for Africa supporters together can reach even more children who are not yet getting the education they deserve.

Public Benefit

Through our objective of the relief of poverty, public benefit is inherent in everything that we do. We adhere and have had due regard to section 17 of the Charities Act 2011 on public benefit when pursuing our objectives. In shaping our objectives for the year, the Trustees have considered the Charity Commissi guidance on public benefit, including the guidance Public benefit: running a charity (PB2)

Activities

Remaining BWA grant activities have now moved across to be run by Street Child, with the exception of one project in Sierra Leone which is being completed in Bread and Water for Africa.

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BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

OVERVIEW OF THE FINANCIAL YEAR

The Charity

decreased to £26,850 from £75,220 in the prior year.

This is in part due to the fundraising focus for the year focusing on regular donors with no applications submitted to Trusts and Foundations since this work is now being undertaken by the parent charity Street Child.

Use and Value of Volunteers

There were no volunteers used during the year.

Fundraising Activities

The Charity s principal funding sources are donations made online through its website, through other giving websites such as JustGiving or Global Giving, legacy bequests, and through direct mail appeals. Fundraising expenditure fell from £24,381 in the prior year to £1,905.

Grant funding Activities

In 2023/24 Bread and Water for Africa supported programmes in Sierra Leone with £7,780 of funding, an increase from £4,517 of funding in the prior year. Funding in Sierra Leone was provided to longstanding partner organisation Glocal Forum Yala Africa.

Reserves Policy

The Charity aims to maintain free reserves at a level that equates to between three and six months of total resources expended (a range of approximately £2,500 to £5,000). This will provide sufficient funds to cover ongoing governance, education, and support costs and to meet grant payments that have already been committed to, as well as to respond to any urgent grant requests which may arise from time to time. This fixed baseline level of reserves is monitored as needed to ensure that it is adjusted and maintained at a responsible level with the approval of the Trustees on the basis of changing environmental factors and developments in costs and income.

The charity started the year with unrestricted reserves of £37,874 and ended the year with unrestricted reserves of £62,429. This is above the target reserves for Bread and Water for Africa. In 2023/24 there was a large reduction in resources expended which means that under the reserves policy, the target level of the reserves have also reduced. In the following year Bread and Water For Africa anticipate to increase charitable expenditure in order to reduce the level of free reserves. The charity also has restricted reserves of £7,966 which will be utilised to fund projects in 2024/25.

calibrated against the level of reserves that would be required to fund three to six months of operating costs.

The largest two risks facing Street Child are a fall or under-performance in Unrestricted income, and/or the need to use Unrestricted funds to cover Restricted Programme costs, for instance because of cost disallowed by the funders.

This quantification of reserves will be carried out on an annual basis as part of the budget setting process which concludes in March each year. At this stage the Trustees will consider if any of the major risks have changed, and also the quantification of the reserves in line with the budget.

For Street Child Group the reserves target is £0.75m to £1.5m, with a mid-range target of £1.1m. Street Child Group unrestricted reserves at 31 March 2024 of £143m (2023: £1.1m) were ahead of the mid-range target.

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BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Bread and Water for Africa UK is a registered charitable company (Registered Charity No. 1103138 and Company No. 05043252) limited by guarantee and governed by its Memorandum and Articles and Constitution dated 13 February 2004.

The members of the Board of Trustees, hereafter referred to as the Trustee are set out on the previous page. For the purposes of company law, the Trustees are also the Directors of the Company.

Appointment of Trustees

As dictated by the Charity s Constitution, the Trustees are appointed by a simple majority of the Board. Any person desiring to be admitted to the membership of the Company is required to apply in writing. No person shall be admitted until approved by a resolution passed in accordance with the Constitution by the existing members.

Trustees Induction and Training

Once elected, new Trustees receive an induction pack outlining the role of Trustees; what is expected of them roles and responsibilities; and details of the structure and purpose of the Charity.

The pack includes a copy of the governing document and contact details of all Board members along with details of the key operational personnel, professional advisors, and key suppliers.

Trustees are kept up to date with various governance publications and notices from network memberships. Trustees will also be advised of any appropriate courses that they may benefit from attending.

Risk management and internal control

The Trustees are fully aware of the need to assess the risks faced by the charitable group and to minimise those risks. They have conducted a comprehensive process to identify, assess and manage risks. This culminates in a register of risks, with all risks being scored for likelihood and impact and management strategies and timetables being established. The risk register is reviewed by the Finance Committee every quarter and at every Board Meeting (also quarterly) to assess all risk factors identified in the risk register and ensure that all Trustees are fully abreast of the risk situation in the organisation.

In addition to the organisational risk register, each country programme holds a register for all large projects, which have their own risk registers that are used by project management teams to make operational decisions. All fundraising events have their own risk assessments.

While no system of internal control can provide absolute assurance against material misstatement or loss, procedures in place and that they are operating effectively.

Key elements of the system of risk management and internal control include:

• Delegation: there is a clear organisational structure with lines of authority and responsibility for control; and procedures for reporting decisions, actions and issues.

• A clear, comprehensive documented suite of financial procedures accessible to all staff.

• Financial Reporting: the Board approves and monitors the annual budget and income projections. Each Board meeting receives an update on the latest forecast income and expenditure together with explanations of significant variations. The Finance Committee reviews the financial reports in detail and a presented to the Board.

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BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

• Programme reporting: regular reports are received by the Chief Executive from the country leads. These are reviewed to ensure that the programmes are progressing as planned and to identify any issues which are followed up as necessary. Written quarterly updates are provided to the Board along with any issues, risks or opportunities.

The principal risks and uncertainties facing the charitable group, as identified by the Trustees of Street Child include the following:

• Unrestricted Income being insufficient to support institutional restricted funding or pursuing opportunities for investment. This is mitigated by careful monitoring of income compared to budget and forecast, and the pipeline income and by ensuring that costs are carefully managed.

• Unsatisfactory Programmes impact, or donors consider project impact to be unsatisfactory. We continue to invest in quality in-country programme and finance teams to ensure that we can meet donor requirements.

Plans for Future Periods

Bread and Water for Africa UK now operates as a subsidiary charity of Street Child. This means the charity registration number will remain and the independence will continue. The Charity will continue to report to the Charity Commission and Companies House and be entirely responsible for its own accounts, policies and legal compliance.

Bread and Water for Africa UK s aim is to continue to raise funds and awareness for programmes promoting selfsufficiency, health, and education in Africa and to increase its base of supporters. Through Street Child, the Charity will also continue to use e-mails alongside social media campaigns as a low-cost method of expanding its donor base and taking advantage of other channels to educate, inform and solicit feedback from existing supporters.

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BREAD AND WATER FOR AFRICA TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEE . RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees (who are also Directors of Bread and Water for Africa UK for the purposes of company law) are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 The Financial Report Standard applicable in the UK and Ireland .

Company law requires Trustees to prepare financial statements for each fiscal year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles contained in the Charity s SORP;

• Make judgements and estimates that are reasonable and prudent;

• State whether the applicable UK Accounting Standards, including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;

• Provide oversight to the Charity s fundraising methods and ensure compliance with database and donorfocused best-practices;

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Exemption

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

On Behalf of the Trustees

Anthony Wallersteiner

18[th] December 2024

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BREAD AND WATER FOR AFRICA INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF BREAD AND WATER FOR AFRICA

Opinion

We have audited the financial statements of Bread and Water for ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 FRS 1

(United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:

• 4 and of its

• incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• 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 audit of financial statements section of our report. We are independent of the Corporation in accordance with the 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

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 company'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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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.

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BREAD AND WATER FOR AFRICA INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF BREAD AND WATER FOR AFRICA

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the statements are prepared is consistent with the financial statements; and

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take preparing a strategic report.

Responsibilities of trustees

7, the trustees (who are also the directors of the charitable company for the purposes 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.

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.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the trol.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

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BREAD AND WATER FOR AFRICA INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF BREAD AND WATER FOR AFRICA

• based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable concern. If we conclude that a material uncertainty exists, we are required to draw attention in our inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

• We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation.

• We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.

• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

• We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations.

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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BREAD AND WATER FOR AFRICA

INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF BREAD AND WATER FOR AFRICA

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 ~~.~~ Our audit work has been undertaken so that we might state to the company’s members those matters we are required t o 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 any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil Finlayson (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

9 Appold Street Neil Finlayson (Senior Statutory Auditor) London EC2A 2AP for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

Date: 18[th] December 2024

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BREAD AND WATER FOR AFRICA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2024

----- Start of picture text -----
Year ended Year ended
31 March 31 March
Note 2024 2023
£ £
Unrestricted Restricted Total Total
Income from
Donations and Legacies
Donations and similar income 26,383 413 26,796 45,265
Legacies 54 - 54 29,955
Total Income 26,437 413 26,850 75,220
Expenditure On
Raising funds 3 1,905 - 1,905 24,381
Charitable activities 4 (23) 7,780 7,757 10,293
Total Expenditure 1,882 7,780 9,662 34,674
Net movements in funds 2 24,555 (7,367) 17,188 40,546
Total funds brought forward 37,874 15,333 53,207 12,661
Total funds carried forward 10 62,429 7,966 70,395 53,207
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the year.

The above results are derived from continuing activities.

The accompanying notes form part of these financial statements.

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BREAD AND WATER FOR AFRICA BALANCE SHEET As at 31 March 2024

BREAD AND WATER FOR AFRICA BALANCE SHEET As at 31 March 2024
Current Assets Debtors 8 Cash in hand and at bank	31 March 2024 £ 61,187 21,925	31 March 2024 £	31 March 2023 £ - 89,807	31 March 2023 £
Creditors: Amounts falling due within one year 9	83,112 (12,717)		89,807 (36,600)
Net Current Assets		70,395		53,207
Total Assets less Current Liabilities		70,395		53,207
Unrestricted funds General Reserve 10 Restricted Funds 11		62,429 7,966		37,874 15,333
		70,395		53,207

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved, and authorised for distribution, by the Board of Trustees on 18th December 2024 and are signed on their behalf by:

...................................................... Anthony Wallersteiner Trustee

The accompanying notes form part of these financial statements.

Company number 05043252

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BREAD AND WATER FOR AFRICA CASH FLOW STATEMENT As at 31 March 2024

2024 £ Net cash (outflow)/inflow from operating activities (67,882) (Decrease)/Increase in cash and cash equivalents (67,882) Cash and cash equivalents at the beginning of the period 89,807 Cash and cash equivalents at the end of the period 21,925 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH INFLOW FROM OPERATING ACTIVITIES 2024 £ Net Movement in Funds 17,188 (Increase)/Decrease in debtors (61,187) Increase/(Decrease)in creditors (23,883) Net Cash Outflow /Inflow from operating activities (67,882) 2024 Analysis of cash and cash equivalents and net debt £ Opening balance 89,807 Cash-Flows (67,882) Closing balance 21,925

2023 £ 53,162 53,162 36,645 89,807 2023 £ 40,546 5,367 7,249 53,162 2023 £ 36,645 53,162 89,807

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BREAD AND WATER FOR AFRICA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting Policies

Basis of Preparation

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), published on 16 July 2014. The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The principle accounting policies adopted in the preparation of the financial statements are set out below.

Going Concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable entity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees on donation and investment income. In assessing whether Bread and Water for Africa is a going concern, the Trustees have also considered the reserves of the Street Child charitable group, of which the charity is a wholly owned subsidiary. The trustees have considered the group forecasts and projections and have taken account of pressures on donation and grant income and cash flow for 12 months from the date of approval of the financial statements, the associated assumptions that underpin it, the pipeline of new income and the steps that could be taken to reduce expenditure should this be necessary.

The Trustees are satisfied that the group has sufficient resources to continue in operational existence for the foreseeable future. The group is largely sheltered has a loyal donor base and a significant grant pipeline. Annual budgets include prudent figures for both income and expenditure and the charity holds reserves within the policy set out in the reserves policy and has liquid assets in the form of cash held in short term deposits.

The Trustees have concluded that with the reserves policy and cash liquidity requirements of the charity together with the commitment of support received from Street Child, the ultimate controlling for the foreseeable future.

Income

Income is included on an accruals basis except for donations received, which are credited as income when received. Legacy income is recognised when three criteria are met: when entitlement is established, receipt of the income is probable and it can be reliably measured:

• Entitlement is established when we receive notification of an interest in an estate, probate has been granted, and Street Child have confirmed the existence of the legacy with the Executors.

• Receipt is probable and the estate is reliably measurable when the final estate accounts have been received

Legacy income is only recognised in the financial statements when the above criteria are met.

Gift Aid Repayments

Income from gift aid repayment claims is only included for claims which have been submitted for tax periods ending on or before the year end and when the receipt of this income is reasonably certain.

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BREAD AND WATER FOR AFRICA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting Policies (continued)

Expenditure

Expenditure, which is charged on an accruals basis, is allocated between:

expenditure incurred directly in the effort to raise voluntary contributions (raising funds);

expenditure incurred directly in the fulfilment of the charity's objectives (charitable activities); and

Charitable activities comprise all the expenditure incurred by the charity in meeting its charitable objectives and is further analysed between:

Grants payable Education and development

Where items of expenditure involve more than one cost category these costs have been apportioned on a reasonable basis as determined by the Trustees. The basis used is 50% allocated to Fundraising and 50% allocated to Programmes activities.

Fund Accounting

Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in note 11.

Foreign Currencies

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction, the average rate being used as an approximation to this rate. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. All exchange differences are dealt with through the statement of financial activities.

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BREAD AND WATER FOR AFRICA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting Policies (continued)

Cash and Cash Equivalents

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.

Financial Instruments

Debtors and creditors

Debtors and creditors receivable or payable within one year of the reporting date are carried at their at transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest.

Critical accounting estimates and areas of judgement

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

2 Surplus of Income over Expenditure The surplus of income over expenditure is stated after charging: Auditors' remuneration: - Auditors fees 3 Fund Raising and Publicity Collection of Income Total before allocated Support costs Support costs	2024 £ 2,700 2024 £ 1,928 1,928 (23) 1,905	2023 £ 5,400 2023 £ 18,606 18,606 5,775 24,381

All of the above expenditure relates to unrestricted funds in 2024 and 2023.

Negative support costs are caused by release of prior year over accrual for Audit fees

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BREAD AND WATER FOR AFRICA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable Activities Grants Payable Global Forum Yala Burundi Total direct costs of grants payable Support costs of grant programmes Total expenditure on charitable activitites	Unrestricted - - - (23) 23	Restricted 7,780 - 7,780 - 7,780 2024 £	Total 7,780 - 7,780 (23) 7,757	2023 £ Total 4,311 206 4,517 5,775 10,293

Support Costs

Support costs of charitable activities are analysed as follows:

Legal and professional fees Overhead costs	Raising funds (240) 217 (23)	2024 Grant Education and Total Programme Development £ £ £ (240) - (480) 217 - 434 (23) - (46) Charitable activities

Grant award support costs and staff support are provided by the parent charity Street Child. Negative support costs are caused by release of prior year over accrual for Audit fees

Grant award support costs Legal and professional fees Staff costs (see note 6)	2023 Raising funds Grant Education and Total Programme Development £ £ £ 4,223 4,223 - 8,446 1,138 1,138 - 2,276 414 414 - 828 5,775 5,775 - 11,550 Charitable activities

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BREAD AND WATER FOR AFRICA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5 Governance costs

Included within legal and professional fees in note 4 are the following costs

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Audit fees / Independent examination|2,700|5,400|

----- End of picture text -----

No Trustee received any remuneration for services in this or the prior year. No trustee received reimbursement of expenses this or the prior year.

----- Start of picture text -----
||||| |---|---|---|---| |6|Staff Costs|2024|2023| |£|£| |Wages and salaries|-|-| |Social Security costs|-|-| |Pension|-|-| |-|-|

----- End of picture text -----

The average number of employees during the year was none (2023: 0). No employee earned £60,000 per annum or greater in the year (2023: none)

Key Management Personnel are considered to be the Trustees and the Chief Executive Officer. Total Trustees' remuneration for the year was £nil (2023: £nil). The total remuneration of key management personnel during the year was £nil (2023: £nil).

7 Taxation

The company, being a registered charity, is not liable for corporation tax in respect of its operations for the year.

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||||| |---|---|---|---| |8|Debtors|2024|2023| |£|£| |-| |Amount Owed from Parent Company|61,187| |-| |61,187| |9|Creditors : Amounts falling due within one year|2024|2023| |£|£| |-| |Amount owing to Parent Company|21,345| |Accruals and deferred income|2,700|5,400| |Other Creditors|10,017|9,855| |12,717|36,600|

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|||||| |---|---|---|---|---| |10|Unrestricted Funds|Balance at| |Balance at|31 March| |1st April 2023|Income|Expenditure|2024| |£|£|£|£| |General reserve|37,874|26,437|(1,882)|62,429| |37,874|26,437|(1,882)|62,429|

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BREAD AND WATER FOR AFRICA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2024

11 Restricted Funds

Global Forum Yala Emergency Preparedness Appeal	Balance at 1 April 2023 £ 14,688 645 15,333	Restricted income Restricted expenditure £ £ - (7,780) 413 - 413 (7,780)	Transfers £ - - -	Balance at 31 March 2024 £ 6,908 1,058 7,966

Funds for Global Forum Yala were provided from a generous legacy gift. Funds not fully expended in 2023/24 are held for utlisation in 2024/25 finanical year.

Funds for the Emergecny Preparedness appeal were raised from a mail appeal to BWA supporters.

Global Forum Yala Emergency Preparedness Appeal Burundi	Balance at 1 April 2022 £ - - - -	Restricted income Restricted expenditure £ £ 19,000 (4,311) 645 - 206 (206) 19,851 (4,517)	Transfers £ - - - -	Balance at 31 March 2023 £ 14,689 645 - 15,334

12 Capital Commitments

The charity has no capital commitments as at 31 March 2024 (2023: None).

13 Members' Liability

The Charity is a company limited by guarantee. On the event of winding up, the members' liability is limited to £1.

14 Ultimate Parent Charity

The company is a subsidiary of Street Child, a charitable company registered in England and Wales (Company No. 06749574, Charity No. 1128536).

Copies of group financial statements are available from the registered office of the parent at: 33 Creechurch Lane, London. EC3A 5EB

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