2023-03-31-accounts

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GAYAZA ALUMNAE NETWORK

ANNUAL ACCOUNTS FOR THE YEAR 01 APR 2022 TO 31 MAR 2023

Charity No. 1119085 Company No. 5303977

Statement of Financial Activities for the Year ended 31 March

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2023

INCOME & EXPENDITURE Incoming Resources: Voluntary income Activities for generating funds Investment Resources from Grants and Donations: National Lotteries Fund Scholarship Fund – Collier Trust Sheelagh Warren Legacy Others Charitable donations Membership Income resources Total incoming Resources RESOURCES EXPENDED Scholarship Fees Costs of Generating Funds Cost of generating voluntary income Charitable activities Governance costs Other resources expended Total resources expended Net incoming (outgoing) resources before transfer	Note 3 4	Unrestric ted Funds £ - - - - 1,63 4 1,6 34 - - 35 0 - 3 50	Restrict ed Funds £ - - - - - 86,6 41 - 86, 641 2,5 50 - 2 89 -	Endowm ent Funds - - - - - - - - - - -	Total Fund s 2023 £ - - - - 86, 641 1, 634 88 ,275 2, 550 289 - 636 84 ,800	Total
			-			Fund s 2022 £ - - - - 2, 000 407 1, 663 4 ,070 - 2, 400 - 407 - 1, 994 - 731

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Gross transfer between funds	-		-		-	-	-
Net incoming (outgoing)
resources before other						84	-
recognised gain (losses)	-		-		-	,800	731
Other recognised
Gains/Losses		-		-	-	-	-
Gains and losses on valuation	-		-		-	-	-
of assets
							-
Net movements in funds	-		-		-	-	1,402
B/f forward at 01 April 2022	-		-		-	2, 145	3, 547
B/c forward at 31 March 2023	-		-		-	86 ,945	2 ,145

Balance Sheet as at 31 March 2023

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Fixed assets Tangible assets Investments Total fxed assets Current assets Stock and work in progress Debtors (Note 8) Short term Investments/prepayments Cash at bank : Scholarship Fund Cash at bank and in hand Total current assets Creditors: amounts falling due within one year (Note 9): Others Scholarship fees Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 9) Reserves and provision for liabilities Net assets Funds of the Charity Unrestricted Restricted income funds (Note 10) Endowment funds (Note 10) Total funds	Unrestrict ed funds £ 101 - 101 - - - 10 6 10 6 31 9 31 9 - - - - -	Restrict ed income funds £ - - - - - - 89,7 08 - 89,7 08 2,5 50 2,5 50 86,9 45 - - 86,9 45 86, 945 - - 86, 945	Endowme nt Funds £ - - - - - - - - - - - - - - - - -	Total this year £ 101 - 101 - - - 89, 708 106 89, 814 319 2, 550 2, 869 86, 945 - - 86, 945 86 ,945 - - 86 ,945	Total
					last year £ 134 - 134 - - - 5, 464 2, 218 7, 682 866 2, 400 3, 266 4416 - 2, 405 2, 145 2 ,145 - -- 2 ,145

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For the financial year ended 31 March 2023, the company was entitled to exemption under Section 475 and 477(2) of the Companies Act 2006, and Section 144 of the Charities Act 2011.

Members have not required the company to have an audit in accordance with Sections 475and 477(2) of the Companies Act 2006 relating to small entities.

The Directors acknowledges their responsibility for:

Preparing financial statements for each financial year, which give a true and fair view of the state of affairs of the company and of the profit and loss (financial activities) of the company for the year which comply with Section 393 of the Companies Act 2006 and in preparing those financial statements, the Directors are required to: Select suitable accounting policies and then apply them consistently.

Make judgement and estimates that are reasonable and prudent.

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State whether applicable accounting standards and SORP if applicable have been followed, subject to any material departure disclosed and explained in the financial statements.

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

Maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with Section 386 of the Companies Act 2006. They are also responsible for safeguarding the assets of the company, hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the trustees/directors:

Print Name	Date of Approval
	Board Meeting
Judith Banya	4 November 2023
Dorothy Mukasa	4 November 2023

The notes on pages 6 to 8 form part of these accounts.

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NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2023

1 ACCOUNTING POLICIES

(a) Basis of Accounting

the historical cost convention.

(b) Fixed Assets

Fixed assets are stated at original cost to the business, and depreciation is calculated to to the company. Depreciation is calculated to write off the cost or valuations, less estimated residual values of tangible fixed assets over their estimated useful lives as follows:

Fixture, Fittings and Furniture and Equipment

© DEFERRED TAXATION

Deferred taxation is provided using the liability method on all timing differences except that no provision is made where it can be reasonably foreseen that such deferred taxation will not be payable in the future.

(d) CASH FLOW STATEMENT

The company has taken advantage of the exemption in FRS1 (cash flow statements) from the requirement to prepare a cash flow statement, as it qualifies as a small company.

(e) MOVEMENT OF SHARE HOLDERS'S FUNDS STATEMENT

A separate movement of shareholders’ funds statement is not provided, as there were no changes in the current period other than the retained profit/loss in the profit and loss account.

2 TURNOVER

Turnover represents all invoiced amount received and receivable from donations and grants.

The turnover and profit/loss before taxation are attributed to the principal activities of the company and arise wholly in the United Kingdom.

3 OPERATING PROFIT/LOSS

This is stated after charging:

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Director's remuneration (Net)

Accountancy fee

Depreciation and amortisation

4 EMPLOYEES

Staff costs including directors’ salaries

5 INTEREST RECEIVABLE

Royalty reward

6 TAXATION

Based on profits for the year;

UK Corporation Tax (Small Company)

FIXED ASSETS Cost at 01/04/22 Diposal Additions Cost at 31/03/'22 Depreciation At 31/03/'23 Charge for the year At 31/03/'23 Net book value at 31/03/'23	Leased Property - - - - - - - -	F F & F - - - - - - - -	Motor Ofc e Vehicle Equi p't - 134 - - - - 134 - - - 34 - 34 - 100	Tota
				l 134 - - 134 - 34 34 100

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DEBTORS Debtors and prepayments CREDITORS Amount falling due within one year Corporation Tax b/f Corporation Tax for the year Other Taxes b/f Other accruals LIABILITIES Amount falling due after more than one year: School Fees Reserves Nabagereka Foundation Fund Printing stationery and promotion The Directors have given an assurance that they will not recall the amount advanced by them to the company prior to settlement in full of all other creditors SHARE CAPITAL Authorised 2023 No Limited by guarantee -	2023 - - - - 350 350 - 2,550 - - 289 2,839 Allocated, called up and fully paid		202 2 - - - - 300 300 - 2,40 0 2,40 5 - 566 5,37 1 Allocated called up 2022 No -	202