ESUUBI TRUST Financlal Accounts And Trustees Report 29 December 2024 Charity No. 1115864 Company No. 05863107
Esuubi Trust Hope of a future (A charitoble company limited by guaronteej Report and Financial Statements For Financial year ended 29th December 2024 Charity number: 1115864 Company Number: 05863107 Contents Pa eNo. Reference & Administrative Informatlon Esuubi Overview 2024: The Start of NewThinEs Holistic Approach Sponsorship Education & Progress Structure & Governance UK Focus & Finance 34
Reference & Administrative Information Charity Name: Esuubi Trust Registered Charity number: 1115864 Registered Company Number". 05863107 Registered office and Operational address: 81 Pashley Road Eastbourne East Sussex BN20 8EA Directors Mrs Kate Campion-smith Mr Jonathan Campion-smith Dr Simon Eyre Mrs Ann Eyre Mr Nigel Campion-smith Ms Karen Benge Ms Nathalie Bonney Accountants & Independent Examiners O Olasode BSC Msc MBA IPSM FCCA PhD Chartered Certified Accountants TL First Limited I Copers Cope Road Beckenham Kent BR3 INB Bankers National Westminster Bank Plc, Eastbourne Town Centre Branch, 96 Terminus Road, Eastbourne. BN213AA Solicitors Latham and Watkins. 99 Bishopsgate, London, EC2M 3XF Ugandan Committee of NGO: Esuubi the Hope for a Future Mityana Head of Operations: Pastor Kisakye Abdul Headteacher & Secretary: Namagembe Suzan Committee Member: Kisakye Winnifred Committee Member: Male Hassan Committee Member." Musisi Charles Esuubi Uganda Mobiliser: Kintu Margaret Committee Member: Viollah Birungi Committee Member: Timothy Ssemakula
Esuubi Overview Esuubi means 'hope' in Luganda and the work of Esuubi Trust is aimed at building communities; providing a renewed hope and vision to every individual within that community. Uganda has an ever-improving provision of primary education for children with their net enrolment now standing at around 90%. However, the number of these who complete their education or gain significant grades is significantly lower. There is also a significant discrepancy between access to education for boys vs girls. Enrolment into Secondary School falls to 23Yo as the cost of accessing these schools is ever rising. The rates of enrolment in the richest 20/0 of the country are 5 times that of the poorest. Based on the International Poverty line around 42Yo of the country are classed as poor, and have limited access to clean water and quality sanitation. 810/0 of the population lack reliable water access. It is no wonder many don't make it to the next stage of education. 19Yo of girls in the country still have no form of formal education despite universally free education at primary level provided by the government. It is still common for physical punishment to be used on children. It is estimated that 85Yo of children experience physical or psychological punishment by a caregiver. Esuubi believes this is unacceptable and is aiming to change the life opportunities of the children we help to support. We have been supporting projects for 19 years within Mityana on a formal basis since our registration as a charity in 2006, but also in an informal capacity prior to that. Esuubi supports the work of the NGO: Esuubi Hope of a Future Group, a locally registered organisation that runs all the projects in Uganda. Firm foundations for our work have been built through strong working relationships with the key individuals and stakeholders in Mityana. We believe strongly in focusing our impact on one community in order to support and nurture change. Our vision is... "For every child in Uganda to know the love of a mother, the support of a family and the hope of afuture... Our mission is... o build communities and change lives in Uganda by giving the neediest children afamily. a home. an educotion and the chance of a better life.- Our values... We believe every child has the right to be loved... Love is a force which inspires. empowers. liberates. creates and sustains. Above all, we must provide for the orphans of Uganda a love which enables them to love and care for those around them. In time this will forge an enduring community. which supports its weakest and defends its most vulnerable.
We believe every child has the right to occess water. food. shelter and education... Although conditions for many have improved in Uganda it is sadly the most vulnerable who have no access to clean water. safe Shelter and an education. We believe that through providing Uganda's needy children with access to water. food, shelter and education, we can help to break the poverty cycle to build a more sustainable future for the whole country. We believe in the difference that can be made by improving one life at a time... Esuubi believes that by shifting the course of a single life we can impact the lives of many others. At the heart of Esuubi is an understanding that in order to change lives in the future we must grow a generation who have the life skills, education and understanding of how to survive in a changing world. 2024: The Start of New Things... Throughout 2024 we have continued to work in partnership with the NGO in Uganda, Esuubi Hope of a Future Group. Their work has centered around the opportinities provided for children and young people in Mityana, Uganda. Ekiwumulo Primary School has continued to flourish this year, providing more children with academic opportunies as well as competitive experiences in the arts and sports. As in 2023. two trustees were able to visit Uganda in February/ March and reported the progress of the school and Ekiwumulo Village as a whole. At the start of the yearwe were able to provide beds. mattresses and mosquito nets for further two houses to open at Ekiwumulo. significant donation allowed us to fund work on drainage of the site to help protett buildings from rain damage. In September we were also able to send funds to complete playground equipment for the nursery section of the school. At the start of the year there were over 400 children registered at the school. The teachers have committed to develop their own learning further and continually improve their provision within the classroom. Some of the teachers are studying for diploma qualifications themselves in order to enhance what they are able to offer to the children.
This year we have been thrilled to sell our first crop of coffee from the bushes planted two years ago. This is an endevour we will be continuing to expand upon in the coming year in orderto embed the sustainabilitry of our farming projects. The site continues to grow matooke, banana, cabbages and maize, as well as grazing a few cattle and goats. The Esuubi Café has continued to operate at low levels this year. Reduction in tourist numbers, and limited to access to the roads surrounding the café, has meant we have been limited to local business and events in order to fund the running of the café. Trustees from the UK are set to discuss the future of the Esuubi Café with the NGO in 2025 in order to decide what is best in terms of either gaining more local trade or looking to whether we need to consider the sale of this asset. For now, the NGO is maintaining and ensuring the low-key day to day running. They are also ensuring that those who are employed by the NGO receive their salaries in order to allow them to support themselves and their own families. Ekiwumulo Primary School celebrated outstanding results again thTS year with an astounding 86Yo achieving a first or second grade. This is a 20Yo increase on last years impressive results and 24% above the national average for Primary Schools in Uganda. Not only thi5 but IOOYO of students passed the Primary 7 Examinations thi5 year with a Third Grade or above. This is compared to 83% nationally. These results are a testament to the hard work of both the children and staff at Ekiwumulo Primary School. We would like to thank all the staff at the school who go above and beyond to make results like this a reality for many disadvantaged children. Holistic Approach Ekiwumulo Village has remained the centre for the projects supported by Esuubi. At the start of the year there was 177 children living on site. Ekiwumulo has been designed around Esuubi's core values. It remain5 a strong and viable community, which we hope to be fully self-sustaining in future. In keeping with Esuubi's ethos Ekiwumulo is designed as a village community, with local culture and heritage at its very core. There is no orphanage, as such, but rather chTldren are brought up by foster mothers, allowing them to experience the love and care of a family environment. At Ekiwumulo children live within familygroups, each with their own house and foster mother caring for them. These "families" have been created to ensure that the orphans receive the love and care so often taken for granted in a family situation. In addition, the mothers are able to teach their children about the values and responsibilities of being a part of the family. As part of this each family group is assigned not only their house to care for, but also tasks in the day to day running of the local community. This includes small scale gardening responsibilities, as well as cleaning and general care for the compound and surrounding area. This allows the children to learn the skills that they would be learning in a traditional Ugandan village.
The health and wellbeing of the children at Ekiwumulo continues to be a top priority for the children in our care. Children who are HIV positive are supported by the mothers and the local Mildmay Centre. There is ongoing counselling and support of children who are HIV positive and advice and guidance of healthy lifestyle and choices are taught through the school curriculum. Sadly, this year we lost one sponsored child to a rare fatal heart condition. She had been sick for a long time and it was with great sadness that members of the Esuubi NGO organised for her burial in June this year. We are so grateful for the love and care the NGO in Uganda was able to provide her over the past few years and particularly the support given to her in her final days in hospital. Sponsorship Sponsorship of children remains a primary source of income'for Esuubi. Esuubi has ended this rinancial period with a total of 107 children sponsored, 10 teachers sponsored and a further 22 students being supported through further education. 18 of the children supported are in Primary education and a further 83 are in Secondary education. This reflects similar numbers of sponsors to our overall figures from last year. This is an area we continue to look to develop in 2025. Esuubi's method of sponsorship has always been one of holistic support, and as such the sponsorship money provided goes via the Ugandan NGO to support the whole community at Ekiwumulo (as well as specific children we support through secondary and further education). Figures from a trustee visit in 2024 show who the NGO is supporting within Ekiwumulo. These figures indicate that just under IO% of the children. SUPPOrted by Esuubi, living at Ekiwumulo currently have sponsors. At the time these figures were recorded this left 160 children who are supported from sponsorship funds but do not currently have sponsors. We need to continue to get more sponsors in order to change this situation. As was the case last year, this problem is likely to continue as our cohort moves from primary to secondary and more needy children arrive to take their place. Over the past yearthe work with our sponsored children and their sponsors has continued to be overseen by the Ugandan NGO director Kisakye Abdul, in conjunction with the teaching staff at Ekiwumulo, and in particular the head teacher Suzan Namagembe. Esuubi would like to thank all those who Sponsor individuals in Uganda for the difference they are making not only to the lives of their sponsored children but also those around them. In particular, we would like to thank the mothers who care forthese children day in day out, and the teachers who provide above and beyond what you would See at an average Ugandan Primary School.
Education & Progress Ekiwumulo Primary School continued into 2024 with 14 teachers with all year groups attending. At the start of the year there were over 400 children registered at the Primary school. Esuubi believes that every child is different, and as such the provision fortheir education should be unique to that child's needs. Esuubi has therefore continued, via the Ugandan NGO. to support students both at formal school settings and alternative for those who have chosen less academic routes for their education. This year saw some students continuing some of their studies in tailoring, procurement and logistics, vetinary diplomas and plumbing at Ebenlo Vocational Centre. Structure and Governance Esuubi Trust was incorporated as a limited company on 30 June 2006 and was later registered on 21 August 2006 as a Charity underthe Charities Commission. The company was established under 3 Memorandum of Association which established the objects and powers of the Charitable Company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Directorsnrustees The directors of the company are also charity trustees for the purposes of charity law. Trustees Induction & Training All trustees were familiar with the work of Esuubi Trust on applying for trustee positions and as such are aware of the following: The obligations of Directors The main documents which set out the operational framework for the charity including the Memorandum and Articles The current financial position as set out in the latest published accounts Objectives and future plans Organisational Structure Esuubi has seven Directors, who aim to meet termly and are responsible for the strategic direction and policy of the charity. Esuubi operates in the day-to-day delivery of services through the work of volunteer trustees and a number of volunteers other than the trustee board. In Uganda, the NGO- Esuubi Hope of a Future Group - meets at least once a term and where the need arises in between. There are currently six members of the committee and they are still registered as an NGO independent of Esuubi UK.
UK Focus & Finance Over the past year, we have approximately maintained the level of incorne achieved in 2023 through the sponsorship program and various small-scale events run throughout the country. For example, the cream teas throughout the summer months again raised money and awareness of what Esuubi is doing in Uganda. Our regular sponsorship scheme has provided the most significant Stream of income throughout 2024 but this is nearly matched by miscellaneous giving as well. The financial outcome for the period saw net incoming funds of over £79.090. This can be broken down as follows. A total of £44.420 has been raised from regular sponsorship giving schemes (including child sponsorships, those supporting teachers and students in higher education). The proportion of funding this accounts for is very similar to last year. The maintained level of income this year has helped us to continue to support the work of the NGO, Esuubi Hope of a Future Group. in Uganda. An increase in costs generally will mean that in future we will need to consider how to increase this income further to continue effectively supporting the work of the Ugandan NGO. Principal Funding Sources Apart from generating fundsthrough individual sponsors, the principal funding source for the charity is currently from individual sponsors and small organisations, such as churches and societies. We are especiallygrateful to Guildford Methodist Church, HolyTrinity with St John's Penge, and St Elisabeth's Eastbourne. who have continued to aid us with supporting the children in Uganda. Investment Policy Considering the situation that the company is in, and the fairly immediate provision required in Uganda, the directors have decided again this year that they will avoid the use of any form of investment funds. This may be reviewed as and when decided by the Directors. Reserves Policy The directors have examined the charitvs requirements for reserves in light of the work they are doing and the main risks to the organisation. It ha5 been established since the start of the charity, that funds held by the charity should aim to be 4 months of the expenditure on sponsor schemes. and long-term projerts including provision of healthcare and basic necessities at Ekiwumulo Village. This is reflected in our reserves entering 2025. Whilst the income funds amounted to £79,090, a balance of £31.884 remained at the end of 2024 with expenditure totaling £88,792 during the year. This expenditure reflects basic provision for education, health and well-being of the children. and salaries for those working with the NGO in Uganda. It also includes provisions of mattresses, bedding, mosquito nets, new drainage Systems, nursery school play equipment and costs for medical care and burial costs for one of the sponsored children who was extremely sick. Expenses The cost of general expenses this year was again less than 1%. This has enabled us to continue to maximize the use of money given to the Ugandan NGO overseas in supporting orphans and
needy children in Uganda. Esuubi will once again aim to keep costs as low as possible over the coming year in order to ensure all money raised for the children of Mityana reaches them. Responsibilities of the Dirertors Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company a5 at the balance sheet date and of its incoming resources and application of resources, including income and expenditure. for the financial year. In preparing those financial statements, the Dirertors should follow best practice and in so doing: Select suitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudent; and Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis The Directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statement5 comply with the Companies Act 2006. The Directors are also responsible for safeguarding any assets of the Company and hence taking reasonable 5tep5 for the prevention and detection of fraud and other irregularities. Dirertors Directors who for the purpose of charity law are also trustees. who served during the year and up to the date of this report, are set out on page l. In accordance with company law, as the company's directors, we certify that: So far as we are aware. there 15 no relevant audit information of which the company's auditors are unaware; and As the directors of the company, we have taken all the steps we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charities auditors are aware of that information. Accountants & Independent Examiners O Olasode Bsc Msc MBA IPSM FCCA PhD of TL First Limited Chartered Certified Accountants was appointed as the charitable coMpanS Accountants and Independent Examiners during this financial year. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities and in accordance with the provisions in Part 15 of the Companies Act 2006 relating to small entities. Approved by the Directors on and signed on its behalf by: Mrs Kate C3mpion-Smith (Director) Date {DD/MM/YY}
ESUUBI TRUST FTNANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED ?9 DECEMBER 2024 ACCOUNTANTS, AND INDEPENDENT EXAMINER'S REPORT report to the trustees on my examination of the accounts of the Esuubi Trust for the year ended 29 December 2024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 2011 ("the ACV,). I report in respect of my examination of the Trusvs accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515)(b) of the Act. Independent examinerfs statement l am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association (FCCA). I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below ) which gives me cause to believe that in, any material respect". the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records: or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Drol asode FCCA Chartered Certified Accountant TL First Accountants Limited TL First Limited Date: ,,L go
ESUUBI TRUST FNANCIAL STATEMENTS AND TRUSTEES RFPORT YEAR ENDID 29 DECEMBIR 2024 STATEMENT OF FINANCIALAcllviTIES UNRESTRICTED FUNDS 2024 RESTRicfED FUNDS 2024 TOTAL FUNDS 2024 TOTAL FUNDS 2023 NOTE INCOMING RESOURCES Voluntary Income Investment Income Other Incoming resources Incoming resources from charitable attivities TOTAL INCOMING RESOURCES 33,529 45,561 79,090 80,795 33.529 45,561 79,090 80,795 RESOURCES EXPENDED Cost of generating funds: Cost of generating voluntary income Cost of goods sold and other costs Investment Management Costs Charitable Activities Governance Costs 22,168 800 66,685 88,853 800 94,055 TOTAL RESOURCES EXPENDED 22.968 66,685 89,653 94,055 NEf INCOME/EXPENDITURE FOR THE YEAR BEFORE TRANSFER 10,561 {21.124) (10.563) (13,261) Transfer5 between Funds Prior Year Adjustment Total Funds Brought Forward 2,680 (23.061) 65,313 42.252 55,513 Total Funds Carried Forward (9.820) 44,189 34,369 42,252
ESUUBI TRUST FtNANCIAL STA TF.MFNTS AND TRUSTEES REPORT YEAR ENDED 29 DECEMBER 2024 BALANCE SHEFr NOTE 2024 2023 Fixed Assets Tangible Assets Investments CURRENT ASSErs Stock: Items for resale Debtors & Prepayments Cash & Bank 34,369 43,527 Creditor5: falling due within one year NE[ CURRENT ASSETS 34,369 43,527 NET ASSETS 34.369 43.527 INCOME FUNDS Restricted Unrestritted Adjustment for Bank Balance 44,189 (9,820) 65,313 123,061) 1,275 43,527 34.369 The Directors and Trustees have: For the year ending 29 Oecember 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director's responsibilities. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Mrs Kate Campion-smith (Dirertor) Date
ESUUEII TRUST FINANCIAL STATF_MF.NTS AND TRUSTEFS REPORT YEAR ENDED ?9 DECEMBER 2024 NOTES TO THE FINANCIAL sfATEMENTS I. BASIS OF PREPARATION 1.1. Basis of accounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. 1.2. Going Concern The charity is a going concern and the accounts have been prepared on a going concern basis. 1.3. Change of accounting policy There is no change of accounting policy during the period. 1.4. Changes to accounting estimates There is no change to accounting estimates during the period 1.5. Material prior year adjustments There are no material prior year adjustments during the period. 2. ACCOUNTING POLICIES 2.1. Income Recognition of income These are included in the Statement of Financial Activities (SOFA) when: the charity becomes entitled to the resources; it is more likely rhan not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. There has been no offsetting of assets and liabilities. or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Offsetting Grants and donations Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). In the case of performance related grants. income must only be recognised to the extent that the charity has provided the specified goods or services as
ESUUBI TRUST FfNANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 29 DECEMBER 2024 entitlement to the grant only occurs when the perforn]ance related conditions are met {5.16 FRS 102 SORPJ. Legacies Legacies are induded in the SOFA when receipt is probable. that is. when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been meL Government grants The charity has reiVed government grants in the reporting period Tax reclaims on donatfions and Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of thatgift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Contractual income and performance related grants This is only induded in the SOFA once the charity has provided the related goods or services or met the perforniance related conditions. Donated goods Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fairvalue of those gifts atthe time oftheir receiptand they are recognised on receipL In the reporting period in which the stocks are dt5tributed, they are recognised as an expense at the carrying amount of the stock% at distribution. Donated goods for resale are measured at fair value on initial recognition. which is the expected proceeds from sale less the expected costs of sale, and recognised in 'lncome from other trading activities, with the corresponding stock recognised in the balance sheeL On its sale the value of stock is charged against'lncome from other trading activities, and the proceeds from sale are also recognised as 'lncome from other trading activities.. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SOFA as incoming resources when receivable. Gifts in kind for use by the charity are included ID the SOFA as income from donations when receivable. Donated services and facilities Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an eKpense under the appropriate heading in the SOF Support Costs The charity has incurred expenditure on support costs. Volunteer help The value olany voluntary help received is not included in the accounts but is described in the trustees. annual reporL Income from interest. royaltffies and This is included in the accounts when receipt is probable, and the amount receivable can be measured reliably.
ESULfBI TRUST FTNANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 29 DECEMBER 2024 dividends Jncome from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and lgac7es. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable attivities. Settlement of Insurance claims Insurance claims are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SOFA Jnvestment gains and10sses This includes any realRsed or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 2.2. Expenditure and Llabilities Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountabiltty of the charity and its compliance with Tegulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. eg allocating property costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or outpuL Grants wfith performance conditions Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor harity to realistically avoid the commitmenL a liability for the tull funding obligation must be recognised. Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date The charity accounts for basic financial instruments on initial recognition as Basic financial 10
ESUUBI TRUST FtNANCIAL STATF.MENTS AND TRUSTEES REPORT YEAR ENDED 29 DECEMBER 2024 instruments per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP. 2.3. Expenditure and Liabilities Tangible fixed assets for use by charity These are valued at costand capiralised if they can be used for more than one year. and cost at least £l.000 The charge for depreciation is calculated to writs off the cost of the fixed assets over their useful lives on the following bases: Office & Musical Equipment Furniture & fittings Motor Vehicles Freehold Office 25% on the reducing balance 25% on the reducing balance 25% on the reducingbalance 1% on the Straight Line Method Assets are depreciated from the time at which they are brought into use. Intanglble fixed assets The charity has intangible fjxed assets. that is. non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5 They are valued at cost Heritage assets The charfty has heritage assets, that is. non-monetary assets with historic. artistic. scientific. technological. geophysical or environmental qualities that are held and maintained principally for their contributiorl to knowledge and culture. The depreciation rates and methods used as disclosed in note 9.6.1.4. They are valued at cosL Investments Fixed asset investments in quoted shares. traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at theyear end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairnienL Investments held for resale or pending their sale and trash and cash equivalents with a maturity date olless than l year are treated as current asset investments. Stocks and workin progress Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value. Goods or services provided as part ola charitable actlvlty are measured at net realisable value based on the service potential provided by items of stock Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contracL Debtors (including trade debtors and loans receivable) are measured on initial
ESUUBI TRUST FTNANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED ?9 DECEMBER 2024 recognition at settlement amountafter any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Debtors Current asset investments The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents With a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commttments as they fall du They are valued at fair value except where they qualify as basic financial instruments. 2. INCOMING RESOURCES Voluntary Income UNRESTicfED FUNDS 2024 RESTRicfED FUNDS 2024 TOTAL FUNDS 2024 TOTAL FUNDS 2023 Donations: Sponsorship Healthcare Food Teachers Higher Education Miscellaneous Construction Cafe Expansion Alternative Gifts VET 35,399 400 180 4,562 4,460 35,398 400 180 4,562 4,460 33,529 510 38,128 165 4,540 3,515 33,867 550 33,529 510 30 50 50 33.529 45,561 79,090 80,795 12
ESUUBI TRUST FTNANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED ?9 DECEMBER 2024 3. RESOURCES EXPENDED ANALYSIS OF RESOURCES EXPENDED COST OF COST OF GENERATING CHARITABLE GOVERNANCE FUNDS AcfiviTIES COSTS TOTAL TOTAL 2024 2023 Dirert Charitable Sponsorship Healthcare Food School & Salaries Higher Education Construction Work Alternative Gift Food, Healthcare and Living costs (Ugandal Miscellaneous 46,805 200 215 11,904 7,500 46,805 29,920 200 215 120 11,904 3,155 7,500 2,185 0 58,614 22,168 88.792 94.055 22.168 88,792 Indirect Costs Accountancy Fees Expense5 (UK> 800 800 61 861 61 61 61 61 TOTAL RESOURCES EXPENDED 88.853 800 89,653 94.055 13