Trustees’ Annual Report
For the period from 1[st] April 2021 to 31[st] March 2022
Link Ethiopia 1112390
The trustees formally agreed to merge Link Ethiopia into Together We Learn (registered charity number 1165953) in September 2020. This was also a merger of Link Ethiopia’s operations with another charity named The Kindu Trust (registered charity number 1069574).
The majority of Link Ethiopia’s funds were transferred to Together We Learn during the year and Link Ethiopia remains active only to receive and transfer future funds that have not yet been transitioned to the new charity.
Objectives and Activities
Objectives
Link Ethiopia’s objectives are the advancement of education and the relief of poverty in Ethiopia and the promotion of racial harmony between the young people of the United Kingdom and Ethiopia. These objectives have been incorporated into Together We Learn which now delivers these activities.
Activities undertaken to meet our objectives
The activities of the charity during the year were delivered by Together We Learn. UK salaries and bills were paid directly by Link Ethiopia between April and June 2021. A final payment towards student sponsorship in Ethiopia was also funded directly by Link Ethiopia at the beginning of the financial year.
Achievements and Performance
Achievements and performance are outlined in the Together We Learn annual report for the same period.
Financial Review
As of 31st March 2022 the total funds carried forward were £6,946 which will be transferred to Together We Learn.
Sources of Funds
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
The charity’s principal sources of funds was from individual donations, which accounted for 47% of our income, and sponsorship, which accounted for 46% of our income. 7% of income was from Gift Aid.
Link Ethiopia (1112390) Annual Report and Accounts 2021-22
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Reserves Policy
Following the merger, all reserves accumulated in the charity are transferred to Together We Learn.
Principal Risks
The trustees have considered the financial risks and concluded that Link Ethiopia remains a going concern. The charity no longer has any direct costs or activities, and only transfers available funds to Together We Learn, so there are no material financial risks or liabilities.
Any risks to activities are outlined in the Together We Learn annual report for the same period.
Structure, Governance and Management
Our governing document is the Trust Deed made on 18[th] September 2005. The charity is constituted as an unincorporated association.
New trustees are appointed by existing trustees.
In September 2020 Link Ethiopia’s trustees agreed to merge into Together We Learn (registered charity number 1165953). This was also a merger of Link Ethiopia’s operations with another charity named The Kindu Trust (registered charity number 1069574). Merging into the new organisation enables us to operate as a Charitable Incorporated Organisation, to benefit from wider staff expertise and realise efficiencies within our operations.
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Reference and Administrative details
Charity name: Link Ethiopia Charity number: 1112390
Principal address: 225-229 Seven Sisters Road, London N4 2DA
Names of the charity trustees who manage the charity
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Trustee name Office (if any)
1 Ashley England Chair
2 Maria Gabriella Otty
3 Elsabeth Gezahegn King
4 Holly McKenzie
5 Jack Sharville Treasurer
6 Matthew Stockdale
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Name of chief executive
Caroline Walker, Chief Executive
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
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Signatures
Full names Ashley England Jack Sharville
Positions Chair Treasurer
Date 29/01/23 29/01/23
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Independent Examiner’s Report to the Trustees
I report on the accounts of Link Ethiopia for the year ended 31st Mar 2022, which are set out on pages 5 to 9.
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 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and
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to state whether particular matters have come to my attention.
Basis of the 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 next statement.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements (i) to keep accounting records in accordance with section 130 of the 2011 Act and (ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Alice Hearn ACA
Redhill, Surrey
30 January 2023
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Link Ethiopia 1112390
Annual accounts for the period
Period start date 01.04.21 To 31.03.22
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Statement of financial activities
| Notes Incoming resources 2&3 Income and endowments from: Donations and legacies 4 Charitable activities Resources expended 5 Expenditure on: Raising funds 6 Charitable activities Transfers to Together We Learn 12 13 Reconciliation of funds: Total Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) Transfers between funds Foreign exchange (losses)/gains |
Unrestricted funds Restricted income funds Total funds Prior year funds £ £ £ £ 20,925 21,757 42,682 60,795 35,929 35,929 216,761 20,925 57,686 78,611 277,556 2,667 2,667 15,193 16,802 16,802 239,407 75,051 109,333 184,384 - 77,718 126,135 203,853 254,600 56,793 - 68,449 - 125,242 - 22,956 3,339 3,339 - - - 293 - 293 8,586 - 53,161 - 71,788 - 124,949 - 14,370 60,107 71,788 131,895 117,525 6,946 0 6,946 131,895 |
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Balance sheet
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Total this year Total last year
£ £
Fixed assets
Tangible assets 9 - -
Total fixed assets - -
Current assets
Debtors 10 5,137 17,810
Cash at bank and in hand 1,991 132,984
Total current assets 7,128 150,794
Creditors: amounts falling due within one year 11 - 182 - 18,899
Net current assets/(liabilities) 6,946 131,895
Total assets less current liabilities 6,946 131,895
Funds of the Charity
Restricted income funds 12 - 71,788
Unrestricted funds 6,946 60,107
Total funds 6,946 131,895
Date of
Trustee Signatures Print name
approval
Ashley England 29/01/2023
Jack Sharville 29/01/2023
Notes
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Note 1 Basis of preparation
The financial statements of the charitable trust, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 2015)’, and Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments. There were no related party transactions for the period.
Cash Flow: A cash flow statement has not been prepared as the Trustees have taken advantage of the exemptions afforded by Financial Reporting Standard Number 1 (revised) as the charity is of similar size to a small company.
Income Tax and Capital Gains: The charity is exempt from taxation in respect of Income Tax and Capital Gains under Section 521 et seq of the Income Tax Act 2007 and Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes.
Note 2 Incoming Resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Note 3 Analysis of income
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Unrestricted Restricted
funds income funds Total funds Prior year
Analysis £ £
Donations Donations and gifts 15,179 21,757 36,936 47,473
and Gift Aid 5,746 - 5,746 13,322
Total 20,925 21,757 42,682 60,795
Charitable Sponsorship - 35,929 35,929 43,773
activities: Global Learning - - - 850
Projects - - - 172,138
Total - 35,929 35,929 216,761
TOTAL INCOME 20,925 57,686 78,611 277,556
Note 4 Donations and gifts
Total funds Prior year
Analysis £ £
Donations Individuals 26,997 16,309
and Schools - 160
legacies: Organisations 694 43
Other (government
grant) 9,245 30,961
Total 36,936 47,473
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Note 5 Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT which is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Costs are split between categories based on staff time. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the costs relevant to the strategic management of the charity.
Note 6 Raising Funds
| Raising Funds: |
Events Merchandise & other Shared operations Staffing Total Analysis |
Total funds Prior year £ £ - 444 - 325 - 3,797 2,667 10,627 2,667 15,193 |
|---|---|---|
Note 7 Employees
Average number of full-time equivalent employees in the London office: 1.5 between April and June 2021. (2.4 in 2020-21). Number with annual remuneration of £60,000 or more: 0.
| Employees: | Wages & salaries Social security costs Pension Contributions Total Analysis |
Total funds Prior year £ £ 9,893 48,958 770 3,385 482 953 11,145 53,296 |
|---|---|---|
Note 8 Trustee Renumeration
Trustees received no remuneration nor expenses.
Note 9 Tangible Fixed Assets
Purchases of under £1,000 in value are written off in the year of purchase.
Note 10 Debtors & prepayments
Amounts falling due within one year:
| Debtors: | Trade debtors Total Analysis |
Total funds Prior year £ £ 5,137 17,810 5,137 17,810 |
|---|---|---|
Note 11 Creditors
Amounts falling due within one year:
| Creditors: | Accruals Social security Deferred income Total Analysis |
Total funds Prior year £ £ - 3,342 - 557 182 15,000 182 18,899 |
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Note 12 Movement in Funds
Restricted funds are subject to specific conditions by donors as to how they may be used.
The charity maintains detailed restricted funds. There were no unexpended restricted funds at the year end.
Note 13 Foreign Exchange Calculation
Transactions in Ethiopian Birr are translated at rates prevailing when funds are transferred to Ethiopia. Balances denominated in Ethiopian Birr are translated at the rate of exchange prevailing at the year end.