REGISTERED COMPANY NUMBER: 05354736 ff ngland and Wales) REGISTERED CHARITY NUMBER: 1118298 Report of the Trustees and Unaudited Finaneial Statements for the Year Ended 31 December 2024 for African Oystsr Trust Brockhurst Davies Litnited I l The Office Village North Road Loughborough Leicestershire LEII IQJ
'African Oyster Trust Contents of the Financial Statements for the Year Ended 31 Deeember 2024 Page Report of the Trustees Independent Examiner's Report Statement of FIDanclal Aetfrvltles Balance Sheet Notes to the Fknantial Statements Detailed Stalement of Financial Activities io
'Afrie2n Oyster Trust Report of the Trustees for tbe Year Ended 31 December 2024 The trustees who are also directors of the charity for the pury)oses of the Companies Act 2006, present their report with the fmancial staternents of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with tbe Financial Reporting Stsndard applicable in tbe UK and Republic of freland (FRS 102) (effective l January 2019). OBJEcfIvES AND ACTIVITIES Objeetives and aims The objectives of the charity is:. {A) The relief of poverty and sickness in those countrie5 described 'the third world" and as "developing countries" particular but not exclusively fonner British Colonies of Afric& (B) The advancement of education of the public, in particular but not exclusively by the dissemination of knowledge in the problems of economic and social development in the third world and the developing world arising from national and international trading practices. The charity provides resources for the running of three clinics in The Gambia and continues to support five nursery Schools working alongside our sister charity GSS and has the wherewithal to develop these projects and potentially add new ones. FINANCIAL REVIEW Reserv policy The trnstees are mindful of the need to hold a reserve fund to ensure the satisfactory continuance of the charity- The bulk of the costs required to support the health cenlres is funded by an annual grant that we receive from a family foundation in the USA. Aside from this, the aim is to maintain a reserye fund that does not fall below £5k. We continue to work closely with Gambian School Swjport charity. Each year we assess our reserves and commitments and pass ally surplus fidS to that charity to aid the continued support of nursery schools, In 2024 this amounted to £7k. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing document Th¢ charity is controlled by its governing document. a deed of TrusL and ConStiteS a limited company, limited by guarantee as defined by the Cornpanies Act 2006. There are also Memorandum and Articles of Association incorpoTated 7 February 2005 as amended by Special Resolution dated l November 2006. Donations made by related parties Charitable donations totalling £1.600 were rnade to the Trust by trustees and related parties duTing the year (2023 £1.600) REFERENCE AND ADMtNISTRATIVE DETAILS Registered Company number 05354736 (England and Wales) Regtstered Chvdrlty number 1118298 Registered office Qualry Cottage Coston Aston-on-clun Craven Amis sIOpsh1re SY7 8EJ Page I
African Oyster Trusl Report of the Trustees for the Year Ended 31 Deeember 2024 Trustees Mr3 K Dalton SCEmery J Dale-Harris M Maybury Independent Exominer Brockhursl Davies Limited I l The Office Village North Road Loughborough Leicestershire LEI i IQJ Approved by order of the board of trustees on............ ....... ........................ and signed on its behalf by.. ci SCErnery-T Page 2
' Independenl Examiner's Report to the Trustees of Afriean Oyster Trust Independent examlner's report to the trustees of Afrlean Oyster Tru$t ('the Company,) I repK)rt to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibiliti and basis of report As the charty's trustees of the Company (and also its directors for the purwses of company law) you are responsible for the prepardtion of the accounts in accordance with the requireTDents of the Companies Act 2006 Cthe 2006 Act). Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried oul under Section 145 of the Charilies Act 2011 Cthe 2011 Act,). In carying out my examination I have followed the Directions gAven by the Charity Commission under Section 145(5) (b) of the 2011 ACL Independent examiner's statement I have completed my examination. I confirni that no matters have come to my attention in connection WAth the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act" or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requ¢ment that the accounts give a trne and fair view which is not a matter considered as part of an independent examination" or the accounts have not been prepared in accordance with the meth(Mls and principles of the Statement of Recommended Practice for accounting and reporting by charilies (applicable to charities preparing their accounts in accordance wilh the Financial R¢porting Stsndard applicable in the UK and Republic of Ircland (FRS 102)). I have no concerns and hav¢ come across no other matters in connection with the examillation to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Amanda Bentley BrockhuTSt Davies Limited I l The Office Village North Road Loughborougb Leicestershire LEII IQJ Date.. Page 3
Afrieall Oyster Trust Statement of Financial Activities for the Year Ended 31 December 2024 2024 Total funds 2023 Total fimds Unrestricted nd Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 45,458 I,ois 46,473 48.619 Other income 200 Total 4S458 1,015 46,473 48,819 EXPENDITURE ON 43205 1,000 44,205 39,391 NET INCOME 2253 15 2268 9,428 RECONCILIATION OF FUNDS Total fimds brought forward 16,741 651 17J92 7,964 TOTAL FUNDS CARRIED FORWARD 1&994 666 19,660 17,392 The notes forni part of these financÉal ststements Page 4
Afrlcan Oyster Trust Balanee Sheet 31 December 2024 2024 Total funds 2023 Total nds Unrestricted fund Restricted funds Notes CURRENT ASSETS Debtors Cash at bank 3,079 16,605 181 485 3260 17,090 2,938 15,114 19,684 666 20J50 18.052 CREDITORS Amounts falling due within one year (690) (690) (660) NET CURRENT ASSETS 18,994 666 19,660 17,392 TOTAL ASSETS LESS CURRENT LIABILITIES 18,994 666 19,660 17,392 NET ASSETS 18,994 666 19,660 17,392 FUNDS Unrestricted funds Restricted funds 18,994 666 16,741 651 TOTAL FUNDS 19,660 17,392 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. The members have not required the company to obtain an audit of its fanCIal 5taternents for tbe year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for {a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing fmancial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its sUlUS or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of ihe CornpaDies Act 2006 relating to financial statements, so far &s appl]ble to the charitable company. (b) These fmancial statements have been prepared in accordance with the provisions applicable to tharitable companies subject to the small companies regime. The fjn st>tsments were approved by the Board of Trustees and authorised for issue . and were signed on its behalf by: on RQL S C Emery - Trustee The notes forni part of these flllancial ststements Page 5
African Oyster Trust Notes to the Financial Statsments for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the fingncial statements The f]nancial statements of the charitable company, which is a public benefit entlty under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Cbaritieg: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financia] Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fmancial statements have beLn prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the incorne will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrnals b&sis and has been classified under headings that aggregate all cost relatsd to the category. ThThere costs cannot be directly attributed to particular beadings they have been allocated to activities on a basis consistent with the use of resources. Taxation Th¢ charity is exempt from corporation tax on its charitable activities. Fund accounling Unrestricted funds call be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted pu4)oses. TRUSTEES, REMUNERATION AND BENEFITS There were no tNstees' remuneration or other knefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Thistees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FLYANCIAL A]VITIEs Unrestricted fund Restricted funds Total funds COME AND ENDOWMENTS FROM Donations and legacies 47,591 1,028 48,619 Other income 200 200 Total 47,791 1,028 48,819 EXPENDITURE ON Other 38.591 800 39,391 Page 6 continued...
. Afriean Oyster Trust Notes to the Financial Statements - conlinued for the Year Ended 31 December 2024 COMPARATIVES FOR THE ATEmENT OF FINANCIAL ACTJVITIES - eontlnued Unrestricted Restricted fund funds Total fimds NET INCOME 9,2) 228 9,428 RECONCILIATION OF FUNDS Total fijnds brought forward 7,541 423 7,964 TOTAL FUNDS CARRIED FORWARD 16,741 651 17,392 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors 3260 2,938 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and defe¢d income 690 660 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestrieted funds Genernl fund I741 4253 18,994 Restricted funds Mariama Mae 651 15 666 TOTAL FUNDS 17J92 2,268 19,660 Net movement in fijnds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fjnd 45,458 (43205) 2253 Restricted fund5 Mlan Mae 1,015 (1,000) 15 TufAL FUNDS 46,473 (44205) 2,268 Page 7 continued...
Afrlcan Oyster Trust Notes to the Financial Statements - continued for the Year Ended 31 Deeember 2024 MOVEMENT IN FUNDS - continued Cornparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fimd 7,541 9,200 16,741 Restricted funds Mariama Mae 423 228 651 TOTAL FUNDS 7,964 9,428 17,392 Comparative net movement in fimds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fimd 47,791 (38,591) 9,200 Restricted funds Mariama Mae 1,028 (800) 228 TOTAL FUNDS 48,819 (39,391) 9,428 A cumt year 12 months and prior year 12 Months conthined position is as follows: Net movement in fimds At 31.12.24 At 1.1.23 Unrestricted funds General fund 7,541 11,453 18.994 Restri¢ted funds Mariama Mae 423 243 666 TOTAL FUNDS 7,964 11,696 19,660 Page 8 continued...
African Oyster Trust Notes to the Financial Ststements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUIYDS - continued A cuent year 12 Months and prior year 12 months combined net movement in nds, included in the above a as follows: tncoming reSou¢S Re50urr¢s expended Moveni¢nt in funds Unrestricted funds General fund 93,249 (81,796) 11,453 Restricted funds Marian]a Mae 2,043 (1,800) 243 TOTAL FUNDS 95,292 (83,596) 11,696 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024 or 31 December 2023. other than donations made by trustees as not¢d in the Report of the Trustees. Page 9
African Oyster Trust Detailed Ststement of Financial Activities for the Year EDded 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legaeies Donations Gift aid 43213 3,260 45,681 2,938 46.473 48,619 Other income Other incom¢ 200 Total incoming resources 4fj473 48,819 EXPEFIDITURE Other Project running Costs 43394 38.385 Support costs Finance Bank charges 30 46 Other Legal fees and SubriptIOnS Accountancy fees 191 690 300 660 960 Total resources expended 44,205 39,391 Net income 2268 9,428 This page does not forni part of the statutory fAnancial ststements Page 10