1
**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**
2
## **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**|
3
|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
5
|**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**|
|||||
||
6
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.
2
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.
7
## **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:
8
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|
9
|**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**|
|---|---|---|---|---|