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← Atorkor Development Foundation

2024-03-31-accounts

ATORKOR DEVELOPMENT FOUNDATION ANNUAL REPORT

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(A company limited by guarantee)

ATORKOR DEVELOPMENT FOUNDATION

ADF -London. 20 Hall Lane, Hendon, London NW4 4TN, Tel/Fax:+44 2082036820 , Email:info@adfatorkor.org:

Website: https://www.adfatorkor.org Registered Charity in Ghana reg. No. G 8950

UK Charity with registration number 1120603

ATORKOR DEVELOPMENT FOUNDATION

FOR THE YEAR END 31st MARCH 2024

INDEX

Page No
ADMINISTRATIVE INFORMATION 1
REPORT OF THE TRUSTEES 2
INDEPENDENT EXAMINER'S REPORT 8
STATEMENT OF FINANCIAL ACTIVITIES 9
BALANCE SHEET 10
NOTES TO THE FINANCIAL STATEMENTS 11 – 14

Page 1

ATORKOR DEVELOPMENT FOUNDATION ADMINISTRATIVE & LEGAL INFORMATION

TRUSTEES

Samuel Adjorlolo (chairman) John David Rogers James Henry Anang Mark Morray Adjorlolo Walter Kwaku Deffor

REGISTERED OFFICE 20 Hall Lane Hendon LONDON NW4 4TN CHARITY REGISTRATION NUMBER 1120603 BANKERS National Westminster Bank Plc Hendon, Central Circus Branch 5 Central Circus LONDON NW4 3LE

INDEPENDENT EXAMINER Grant Accountants Limited Chartered Certified Accountants 7 Glenrosa Road Tilehurst Reading RG30 6AN WEBSITE ADDRESS

https://www.adfatorkor.org/

https://www.facebook.com/ADFAtorkor

Page 2

ATORKOR DEVELOPMENT FOUNDATION TRUSTEES’ REPORT

The trustees have the pleasure of presenting the annual report and financial statements for the Atorkor Development Foundation for the year ended 31st March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Atorkor Development Foundation was originally set up as a charitable company limited by guarantee in September 2006. In August 2007, Atorkor Development Foundation gained registered UK charity status with registration number 1120603 and following a special resolution by its trustees, applied for deregistration as a company effective from 28 July 2009. The original Memorandum and Articles of Association which formed its governing documents have since being amended to reflect its new status as an unincorporated registered charity.

Recruitment and Appointment of Trustees

Due to its focus on Atorkor and its surrendering villages in Ghana, most of the original trustees were invited to join because of their links to Atorkor. The original trustees are required to serve for a minimum of 3 years and can serve for a further 3 years if re-elected.

Trustees Induction and Training

Most of the trustees are already familiar with the work of the Foundation due to their association with the village of Atorkor. All trustees are nevertheless provided with copies of the Foundations governing documents and invited to periodic update meetings.

In future, it is envisaged that all trustees will undertake at least one trip during their term in office to Atorkor to acquaint themselves with the ongoing projects as well as new emerging needs of the communities we seek to serve.

Risk Management

The trustees have conducted a review of the major risks to which the Foundation is exposed. A risk register has been established and is updated at least annually. Where appropriate, procedures have been established to mitigate the risks the Foundation faces. Significant external risks to funding have led to the development of a major fundraising initiative to attract grant funding in the coming years.

Organisational Structure

Atorkor Development Foundation is managed by a trustee body of five members who are responsible for the strategic direction and policy of the charity. Besides links to Atorkor, the current trustees also come from a variety of professional background ensuring a good skill mix on the board.

The Foundation currently has no staff members in the UK meaning day to day management of the Foundation is carried out by the chairman who reports routinely to the trustees in meetings.

Page 3

ATORKOR DEVELOPMENT FOUNDATION TRUSTEES' REPORT (continued)

OBJECTIVES AND ACTIVITIES

The objects of the Atorkor Development Foundation are as follows:

a) To relieve poverty, hardship and distress among the people of Atorkor and surrounding villages in Ghana, UK and other parts of the world by such exclusively charitable means as the trustees may from time to time determine;

b) To advance education, skills and training and employment opportunities for children and young people of Atorkor origin residing in Ghana and anywhere in the world through the establishment and maintenance of schools and training facilities, provision of equipment, facilities and amenities

c) To preserve and protect good health in Atorkor, Ghana and Africa;

d) To promote and encourage better agricultural practices in Ghana and Africa in order to ensure food security.

In the year under review, much of the Foundations work was focussed on education health and employment/job creation.

ACHIEVEMENTS AND PERFORMANCE

The Foundation's activities over the past year were in the following areas:-

1. HEALTH:

ATORKOR DEVELOPMENT FOUNDATION Page 4 TRUSTEES' REPORT (continued)

2) ATORKOR EARLY YEARS EDUCATION CENTRE (AEYEC)/NURSERY:

a) AEYEC: The Foundation established the AEYEC on 25th July 2023 after successfully completing

the ground floor of the Kindergarten building. The AEYEC is set up to be a well-resourced centre to provide solid foundation in education to pre-school children and children of school going age in Atorkor by providing effective and sustained educational, medical and social support to the children. However, additional works such tiling of the main classroom and office, secured gates and painting had to be done. The opening ceremony coincided with the visit of the Royal Masonic School for Girls to Atorkor and the speech and prize giving day of the basic school.

b) NURSERY: The Foundation successfully opened the nursery for 2 & 3 years old children on 25[th] September 2023. All the children who applied to the Centre were made to undergo medical examination at the ADF clinic. The Foundation then held a virtual meeting on Zoom with the parents of these children to explain the concept, ethos, rules and regulations of the centre as well as their responsibilities. Following the meeting, admission letters were sent to the parents whose children have been offered places at the centre. There are currently 21 children but 4 more are on the waiting list. The Foundation has employed 2 graduate qualified teachers in Early Years education and 2 teaching assistants. The Royal Masonic School for Girls (RMSG) donated £5,941 to sponsor the payment of staff salaries and utilities for one year.

4) VISIT TO ATORKOR BY THE ROYAL MASONIC SCHOOL FOR GIRLS (RMSG): A group of

7 students and 2 teachers from the RMSG visited Atorkor in the summer of 2023 for 2 weeks. They were given a wonderful and memorable welcome by the community led by the cultural troupe from the Atorkor Technical Institute on arrival in Atorkor. The group took part in the Speech and prize giving as well as the opening of the AEYEC. The group presented a large quantity of sanitary pads/pants to the clinic and the educational materials to the Basic school. They also spent the weekend in Cape where they visited the Slave castles and the rainforest at Kakum.

ATORKOR DEVELOPMENT FOUNDATION Page 5

TRUSTEES' REPORT (continued)

A delegation from the Foundation visited the RSMG in September 2023 to attend the School’s assembly where the report on the visit to Atorkor was presented to the school by the girls who visited Atorkor. The Foundation presented a Glass shield to thank the RMSG for their contribution to Education in Atorkor.

5) SPEECH AND PRIZE GIVINGDAY: The speech and prize giving day of the Atorkor L/A Basic School was held on 26[th] July 2023. A total of 45 students received awards and as usual the Foundation sponsored it.

6) SHIPMENT TO GHANA: A large consignment of educational materials for the nursery has been shipped to Atorkor. These items were purchased by Mrs Adele Ruddock.

7) EDUCATIONAL SPONSORSHIP : The Foundation is very grateful to Mr Ray Bond for continuing to provide educational sponsorship for children in Atorkor. For the 2023/2024 academic year, Ray has paid £680 for sponsorship including a £500 per year sponsorship for a 4-year degree course for one of the female students from Atorkor. She has been helping at the nursery and will continue to do so during her holidays.

8) ADDITIONAL CLASSROOM : The Foundation provided funding for the partitioning of a very long double classroom into 2 single units to create additional classroom in the primary school to ease overcrowding.

9) COCONUT PLANTATION PROJECT : The Foundation has started the coconut plantation project. The project is sponsored by the charity Itanaba International. Following the sensitisation programs done in the community including the schools, the grounds on the beach were demarcated and pegged. Sixty-eight (68) coconut seedlings were purchased from the Ministry of Agriculture. In all 66 coconut seedlings were planted on the beach in July and August 2023. The other 2 were planted on the campus of the Primary and Junior schools as part of the commissioning of the ultra-modern Early Years Education Centre and nursery on 25[th] July 2023. It is also to remind the children of the bigger project on the beach.

Watering of the coconut seedlings is being carried by a group including twelve (12) children from the Basic School supervised by the headmaster

The Committee plans to purchase additional 100 seedlings to plant between March & April to coincide with and take advantage of the beginning of the early rainy season.

The Foundation is very grateful to Itanaba International for providing funding for this project.

Projects for 2023/2024

Basic School

Page 6

ATORKOR DEVELOPMENT FOUNDATION TRUSTEES' REPORT (continued)

Medical Centre

Atorkor Technical Institute

Coconut Plantation Project

To maintain and make sure the seedlings already planted are being nurtured and plant more seedlings.

FINANCIAL REVIEW

Thanks to the generous giving of our partner church, RMSG, trustees and other supporters, ADF's incoming resources was approximately £34,448 (2023 - £4,712).

Expenditure in the year though came to approximately £35,602 (approx. £9,833 - 2023) most of which went entirely toward the various charitable activities.

The Foundation thus ended the year with a deficit this year of £1,154. (2023 - £5,121).

This year, the trustees are particularly grateful for the continuing support and partnership of organisations such as the Chelmsford Central Baptist Church, The Royal Masonic School for Girls, UK, as well as the tireless fundraising efforts and personal giving of many of our regular supporters and trustees. The Foundation is also grateful to Mrs. Adele Ruddock for their enormous contribution to the development and teaching of ICT and setting up of the nursery in Atorkor and Mr. Ray Bond for his continuous support for the educational sponsorship.

RESERVES POLICY

The trustees have examined the Foundation's requirements for reserves in the light of the main risks that face the Foundation and are satisfied that the current level of unrestricted reserves provides a good cushion for the Foundation going forward.

Page 7 ATORKOR DEVELOPMENT FOUNDATION TRUSTEES' REPORT (continued)

STATEMENT OF DIRECTORS RESPONSIBILITIES:

Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Foundation at the balance sheet date and of its incoming resources and application of resources including income and expenditure, for the financial year.

In preparing these financial statements the trustees have:

The trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 1985. The trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention of fraud and other irregularities.

In accordance with Company Law, as the company directors, we certify that:

a) so far as we are aware, there is no relevant audit information of which the company's independent examiner is unaware: and

b) as the directors of the company we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity's independent examiners are aware of that information.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part VII of the Companies Act 1985 as applicable to small entities.

Approved by the trustees on 26[th] January 2025 and signed on their behalf by:

Dr. Samuel Adjorlolo (Chairperson) ADF

Page 8

ATORKOR DEVELOPMENT FOUNDATION REPORT OF THE INDEPENDENT EXAMINER

I report on the accounts of the Atorkor Development Foundation for the year ended 31st March 2024, which are set out on pages 9 to 14

Respective responsibilities of trustees and examiner

This report is prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies.

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 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the

Charity Commissioners. 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Name: Nick Addo FCCA Address: 7 Glenrosa Road Reading RG30 6AN Date: 4/12/2024

Page 9

ATORKOR DEVELOPMENT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

Note
Incoming resources
Subscriptions and donations
Interest income
Gifts in kind
Resources expended
Charitable activities
Kindergarten project
Education programme & sponsorship
Medical programme
Vocational Training centre
Advocacy & publicity
Governance
2
Net surplus/(deficit) for the year
Fund balances brought forward
Transfers between funds
Fund balances carried forward		 Unrestricted
Funds
£
9,430
-
-
9,430
-
-
-
-
486
263
749
8,681
42,761
51,442		 Restricted
Funds
£
12,018
-
13000
25,018
16,767
2,139
13,710
2,237
-
-
34,853
(9,835)
70,505
60,670		 Total
Funds
2024
£
21,448
-
13000
34,448
16,767
2,139
13,710
2,237
486
263
35,602
(1,154)
113,266
112,112		 Total
Fund
2023
£
3,763
949
-
4,712
2,667
1,822
2225
2668
205
246
9,833
(5,121)
118,387
113,266

Page 10

ATORKOR DEVELOPMENT FOUNDATION BALANCE SHEET AS AT 31st MARCH 2024

Note
FIXED ASSETS:
Tangible Assets
6
CURRENT ASSETS
Stock

Cash at bank
NET CURRENT ASSETS
NET ASSETS
7
FUNDS
Unrestricted Funds
8
Restricted funds
8
CREDITORS: Amount falling due within one year
CREDITORS: Amount falling due after more than one year		 £
£
£
£
107,367
111,434
-
-
8,090
5,060
8,090
5,060
(3,345)
(3,229)
4,745
1,832
-
-
112,112
113,266
51,442
42,761
60,670
70,505
112,112
113,266
2024
2023		 £
£
£
£
107,367
111,434
-
-
8,090
5,060
8,090
5,060
(3,345)
(3,229)
4,745
1,832
-
-
112,112
113,266
51,442
42,761
60,670
70,505
112,112
113,266
2024
2023
113,266
42,761
70,505
113,266

These accounts are prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities.

For the year ended 31st March 2024 the company was entitled to exemption under section 249a (l) of the Companies Act 1985. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 249b (2). The directors acknowledge their responsibility for:

Approved by the directors and trustees in meeting on 26[th] January 2025 and is signed on their behalf by

(Dr Samuel Adjorlolo – Chairman ADF)

Page 11

ATORKOR DEVELOPMENT FOUNDATION NOTES FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31st MARCH 2024

1. ACCOUNTING POLICIES

a) CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice (SORP 2005) and applicable accounting standards

b) FUND ACCOUNTING

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

c) INCOMING RESOURCES

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.

Grants for computers and other equipment are treated as deferred income on receipt and only the proportion necessary to cover the related depreciation is included in the Statement of Financial Activities.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Investment income is included when receivable.

d) RESOURCES EXPENDED - CHANGE OF POLICY

This year, the trustees have taken the decision to decision to recognise the costs of the capital assets the Foundation has developed in Ghana since it commenced operation.

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and 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 and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include professional fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

e) TANGIBLE FIXED ASSETS AND DEPRECIATION

Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised. Depreciation is provided at rates calculated to write off the costs of each asset over its expected useful life, which in all cases is estimated at 6 years.

Page 12

ATORKOR DEVELOPMENT FOUNDATION NOTES FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31st MARCH 2024

2. RESOURCES EXPANDED

Charitable activities
Educational
Education sponsorship
Medical programme
Kindergarten project
Vocational Training Centre
Advocacy and Publicity
Governance		 Direct
Indirect
2024
costs
costs
Total
£
£
£
-
-
2,139
2,139
13,710
13,710
16,767
16,767
2,237
2,237
-
-
-
-
34,853
-
34,853		 2023
Total
£
-
1,822
2225
2,667
2668
-
-
9,383

3. STAFF COSTS AND NUMBERS

There was no employee in the year.

4. TRUSTEES REMUNERATION AND RELATED PARTY TRANSACTIONS

No trustees received remuneration in their capacity as trustees and no trustees or other officers associated with the charity had any personal interest in contracts or transactions entered into during the year.

5. NET INCOMING RESOURCE FOR THE YEAR

2024
This is stated after charging:
Total
£
Depreciation
4,067		 2023
Total
£
5,335

Page 13

ATORKOR DEVELOPMENT FOUNDATION NOTES FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31st MARCH 2024

6. TANGIBLE ASSETS

(All held in Ghana)
Cost
Balance b/f
Additions in the year
Balance c/f
Depreciation
Balance b/f
Charge in the year
Balance c/f
Net book value
31-Mar-24
31-Mar-23		 Freehold Furniture &
Total
Buildings
Equipment
£
£
£
132,643
60,443
193,086
0
0
0
132,643
60,443
193,086
56,028
25,624
81,652
2,825
1,243
4,067
58,853
26,867
85,719
73,790
33,576
107,367
76,615
34,819
111,434

7. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Current assets
Creditors - due in one year		 Unrestricted
Restricted
Total
Funds
Funds
Funds
£
£
£
-
107,367
107,367
54,787
(46,697)
8,090
(3,345)
-
(3,345)
51,442
60,670
112,112

Page 14

ATORKOR DEVELOPMENT FOUNDATION NOTES FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31st MARCH 2024

8. MOVEMENT IN FUNDS

Balance
at
01/04/23		 Incoming
resources		 Outgoing
resources		 Transfer
between
funds		 Balance at
31/03/24
Restricted funds
Medical Centre 9,927 11,884 (13,710) - 8,101
Vocational Centre 41,538 - (2,237) - 39,301
Education Programm 1,774 2,586 (2,139) - 2,221
Kindergarten project 17,266 10,548 (16,767) - 11,047
70,505 25,018 (34,853) - 60,670
Unrestricted funds
General fund 42,761 9,430 (749) - 51,442
113,266 34,448 (35,602) - 112,112