GHANA UNION REGISTERED COMPANY NUMBER: 06395354 (England and Wales REGISTERED CHARrrY T*tUMBFR: 1123393 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GHANA UNION CONTENTS OF THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independellt Examiller's Report ststement of Financial Activities Balance Sheet Notes to the Financial Statements 10 to 14
GHANA UNION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ThL trustees who atL also directors of the charity for thc pUoseS of the Coinpanies Act 2006, present thLir report with the financial statemLnts of the charity for the year ended 31 MarLh 2024. The trugtees have adopted the provisions of Accounting and Reporting by Charitics: Statemcnt of Recommended PTactice applicable to charitics preparing their accounts in accordance with the Financial ReportiniJ Standai-d applicable in thc UK and Rcpublic of Ii'cland (FRS 102) (effective l janUY 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Tlie objects of the charity, ag stated in its Memorandum and Articles of Association, are: ( l ) ThL prevention or relicf of poverty amoiig Ghanaians lll the UK and Ghana (2) The advancemenl of ediicalion of Ghanaian.s of all ages in the UK and Ghana (3) The advancement of the cultural heritage of Ghla among Ghanaians of all ages and the general piibliL in the UK (4) The relief of those Ghanaians in need by reason of youth, age, gender, ill-liealth, disability, financial hardship or other disadvantage in Ghana and thc UK. AcHIEVEfvNT AND PERFORMANCE A. PUBLIC FORUM AND INDEPENDEP4CE DAY CELEBRATIONS The Charity in the past held public open forums, Independence Day celebrations attended by His Excellency, the Ghana High Commissioner to the UK and treland was, held in the year 2019-2020 but due to COVID 19 impact no face-to-face activities has been held for the past three years. The Union planned the Ghana Union reunion diniier daiice, wliich Ivas held on 27th May 2023, maTking the resumption of face-to-face activities. The Union has been 01-gaiiising virtual ZOOM public aivareness tall(s, on various subjects including health, passports, Visas, iminigration, property ownership, ti'avel advice and maiiy other issueg. The Ghana Unioii free advisory servicc to hclp Ghanaians on issues regarding health, immigration, housing, employment and rnaiiy other iSSllCb conlinucd to be available to Ghanaians on booked appointincnL basis. The fonuns also gave the public the chance to discuss the Union, and what is expected of it. Tlie ZOOM Virtual forums have proved popular dnd attt"acted over JOO participaiits. Topics discussed included immigration in the UK, Ghanaian passpoit and Visa applications, Gliana Custom & Excise, investment in Ghana, health issues, water, education, land registration: the state of the roads in Ghana and other topics. Social and family welfare issues. B. GIFT AID: The charity held virtual ZOOM gift aid training for its meinbers and was able to claim gift aid foi" 18 (Eigliteen) groups -2023-2024- £85,85i) (18 groups for the financial years to March 2023 claimllig a total of £89,173). C. GHACOSA /GHANA COTrIMUNITY AWAKDS No awards held for the cun.ent year. Ghana Union hopes to resume or continue thib in the future. D. CALABASHIGHANA UNION NEWSLf4 TTER The Ghana Union Magazine is a coillmuniLy publication created by the Cihana Union. The Ghana Union Newsletter (formerly Calabash) magazine was reinstated and has been running for some time now.. The sixth cdition ot- the Cihana Union newsleiier was publishLd iii OLLobLf 2019 iiiTrd thv nia(Fazikikn will continue to bc published bi-annually. The prcvious copy was published in October 2019 for the Ghana Union's 40th annIversY celebration. With COVID-19's impact on world activities, it has been difficult to publish the next issue. The publication of th¢ newsletter would soon resume. Pagc I
GHANA UNION REPORT OF THE TRUSTEES FOR THE YEAR EDIDED 31 MARCH 2024 F. GHANA UNION YOUTH AND (STAR PROJECT) Ghana Union Youth (GUY) star projcLt is an initiative of Ghana unlo and it is nin by young ILaders who aspire to make a difference in the lives of the Ghanaian youth living in the Diaspora. The GUY Star project now runs Ghanaian lan(Jua(Je cIagses in Twi and Ga for the youth, yotmg adults and adults at The Collcgc of Northcast London (COLNEY), Tottcnham High Road, N17 Haringey Near Seven Sistcrs station. The languaoe classes started initially t.or free for the fst set of lessons but there is now a £5.0 noininal charge per les,8on. The classes are heId Saturday mornings in North London. From Aprtl 2020 with COVID19 these classes are now held online on Zoom. These events would be fimded from the surplus of thc Ghana Union reserves and sponsorships obtained. We are alqo seeking further sponsorships and grants and if successful would increase the youth activities to be organised. Ghana Union would continue to promote young pcoplc's nctworkin(F and engagement events and in partnership with other groups or association for tnutual benefits. Ghana Union to Promote the "Youth" agenda, encouraging talents, enterprise and apprenticeship networks. Tr.. GHANAI1 COMMUMTY CEThIE ATgD (TTrtE LAUNCH AT PARLIAfiqENT HOUSE-JULY 2018 AM) MARCH 2019) The Ghanaian Community Centre has been at the forefront of Ghana Union since 1995. "The Di"eam is for the Cjhanaian community to have a centre they can call their own and one they can be pi"OLid of. A lai-ge hall for public functions and indoor sports, several Ineeting rooms, computer linternet cafe training rooms and offices are but some of the facilities that can be provided at the centre" The (ihanaian Community Centre has been at the fore of Ghana Union however, pledges have not always been honoured and additional funds are generally raised via Ghana Union's main incoine supply - the Ghana Independence Dinner Dance. Therc was a committee fonned during the year 2010-1 l from the Ghanaian conmiunities and individuals to revive the plan and pui.siie the acquisition of the Ghana resource Centre. The progress has been slow duc to lack of fLinding to support Ihe search for Ihe property. This initiative has bcen given a trL%h focus by thc Ghana Union board now and in the coming year. The Comrnunity Centt-e Initiative Launch was held at Parliament House, ChurLhill Room-July 2018. There was a reldunLh of the Community Centre initiative in March 2019 at the House of Commons, Parliament house. As a result of the renewed effort to make the (ilianaian communily centre project a reality, a finance and purchase model was launched in July 2(.)18 at the Churchill Room in the House of Parliament, Westminster where Ghana High Commission, Ghanaian group leaders, Churches, firms: businesses, sponsors and potential investors were invited to participate in thc launch. ThL launch provcd sucLesstul, and Ghana Union would now be holdiiig further road shows at various venues and groups to encourage pai.ticipation in the project. We estimate thc initial capital needed to starl Ihe projcct of about £2.OM (two million pounds). There wa8 a relaunch in Mai-ch 2019 and a special vehicle (SPV) Company has bccn formcd to procccd with Ilie initiative. So far, some groups and individuals have paid their shares to tlie company. These monies would fom] part of the deposit towards the purchase of the Communily centre. Ghana Union has also paid for Iwo ordinary shareb at tlie cost of £20,000, that is £10,000 per share in the GhancTrian Property ScrviLes Company Ltd (SPV) to enable the purchase of the Ghanaian community centre with other community groups <ind investors. COVID-19 has impacted the speed of progress of the SPV coinpany. The Ghanaian Propety Services Company Ltd (SPV) has now <icquired two residential properties for rent pendino the possibility of acquiriiig the Ghanaian Community centre in due course, the investrtLents in the residential properties in the RnteriEn were agreed upon by the shareholders. Page 2
GHANA UNION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IWL&RCH 2024 Ghana Union Shareholdiiigs in Ghanaian Community Property Services Ltd. Re(Farding the properties and Ghana Union illvestsnent in GCPSL, There -e tenancies in both buildings since July 2022, albeit with Lhallcnges over the year since the operations as a company. Nonetheless, there have been marginal reiital gains fvoin both properties and al80, equity on the purchage of both buildings has goiie up over the year with an Estimated Equity Return on Investment per share of £IOOOO from both buildings achieviiig = £1,035 plus. In simple tcms, if both properties were to be sold today, this would give Ghana Union an average investnient equity i-eturn profit of £2,070 for two shares held in the Ghanaian Community Property Seivices. Rc(Tards to tlie £2,000 loan balance, the coinpany ha8 also received approximately £15,000 in rental income over the year and the board of directors has decided to use the rental income achieved to pay off part ot" the loans received from sharcholdcrs if that is agreed at the upcoming sharcholder meeting on J l July 2023. Part of the loan £1000.O was repaid during the yeai" but an additional funding i-equest from GPSC Ltd resulted in illl ddditional loan ot" £2000. Making balance (It 31 MarLh 2024 £3,000. G. GHANA UTrIION ADVISORY SERVICE: Ghana Union has continucd to offcr the Ghana Community advisory service in, itTllnigration, employment, family affaiTS: marital problems, welfare, social, hcalth, racial integration, and other areas. We have a pool of legal experts, medical and many otliers. The service was a resiilt of our March 2014 dinner dance fundraising pledge. ThTS service is still available, but this is now offered on booked appointmeiits only. H. GHANA DIASPORA FIOMECOLWNC SUMMIT COMMITTEE UK Three members of CJhana Union board served on the Ghana Dia%pora homecoming Summit Cominittee UK. The UK Homecoming Surnmit Committee plays a vital role in the success of the Diaspora Summit planning which nornially Is take place in Accra International Centre, Ghatia. No further summits have been held since 2019. I. THE FUTURE OF GHANA UN10Tr4 Following on from our last leader's LonfeT"ence in October 2015 and risk managcn]ent assessment training, the ycars 11 ahead will be much more challenging but equally rewarding. By 2025, Ghana Union aims to be deliverin(s a structured range ot". suppoi"t aiid eiceS for individuals and community organisations backed by sound reseaich. We are yet to commence the work on the research project. Fund4 may be available to cany out this I"esearch. Page 3
GHANA UNION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 J. covtD 19 IMPACT, THREATS klJND OPPORTUNITIES 11 With COVD 19 impact on all oroanisations and businesses in the world, Ghana Union's vision and mission of strnctUTed lange of services and support was affected. Ghana Union has now re-structured the way it works, supports and delivers ils services with or(yanisations and public, it is now offering more online bi"oadcast, Virtual talks and telecasts seniices, advisory services as opposcd to facc-to-faLe meetings. This range of coiitent delivery will be constantly reviewed with the changes offered according to the evolving COVID 19 situations. Ghana Union also coiitinucs to partner with Omega TV, Acccss Media, Ghana Nurses Association (GNA), Westeii] Region Nurses Association (WIIAN) and our sponsor8 to deliveT the ZOOM and onlille fo1mS. Ghana Union has planned a Te-union dinner dance in May 2023 to raise funds to help and sepie the vulnerable members of the Ghanaian community with long COVID effect and help, in timL of their vartous needs.. 11 FINANCIAL REVIEW Reserves polic), The tISleeS are aware that a prudent financial mana(%ement of the charity requires that some funds are put aside foi- a "rainy day" Aftcr considering the contractual obligations of the charity, such as premises and other leasing obligations the trustees have decided that they would require to hold funds in reserve, equivalent to a minimum of six months total operatino expenditure. This means a total of approximately £13,800 for the current financial year. The currcnt level of free reserves adequatcly satisfies tlie charity's reserves policy. The trustees plan to generate funds to incrLase th¢ Cue1]t level of Reserves. Funds in deficit There are no funds currently in deficit. STRUCTURE, GOVERNATr4CE AND MANAGEMENT Governing document Ghana Union is a company limited by guarantees (number 06395354) and a registered charity number 1123393 The company was incorpoi-ated on 10 October 2007 and took over the affairs of the unincorporated charity Ghana Union London on l April 2008. ReLruitment and appointment of new trustees The management of Ihe charity is vested in the Executive Committec consisting of Officers and Members that arL clect¢d at the Annual General Mecting or co-optLd by Ihe Executive Conmiittee. Page 4
GEtANA UTr4101N REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTK4TIVE DETAtLS Registered Company number 06395i54 (England and Wales) Reoistered Charity number 1123393 Registered office 225-229 Seven Sisters Road London N4 2DA Trustees E Quayson. (Chair) A Shardow (Treasurer) C Friinpong (Secretary) ZAdu G Ocloo D Yianoma Y B Offei S Asima C Okpattah M Osei-Agyapoi12 M Nlvaunu F Al(weley Company Secretary C Fiiinpong (Secretary) Bankers HSBC Bank PIC 60 Queen Victoria Park London EC4N 4TR Approved by order of thc board of truste¢s on 6 September 2024 and signed on its behalf by: A. Shardow (Treasurer) - Tiustee Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GHANA UNION Independent examiner's report to the trustees of Ghana Union ('the Company,) I report lo the charity trusiees on my examinatioTh of the accounts ofthe Company for the year ended 31 March 2024. Respollsibilities and basis of report As the charity's trustees of the Company (and also its dii"ectors for the purposes of coinpany l.aw) you are responsible for the preparation of the accoLtnts in accordance with the Tequiremcnts of the Companics Act 2006 ('thc 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited uiider Part 16 of the 2006 Act and are eligible for independent exarninatioii, I report in respect of my examiiiation of your charity's accounts as carried out under Sectioii 145 of the Charities Act 2011 ('the 2011 Act,). In carying out my examination I have followLd the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attentioii in connection with the examination giving me calise to believe: accounting records were not kept in respcct of thc Company as required by Section 3 86 of tbc 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 requirement that the accounts give a true and fair view which is Iiot a matter coiisidered as part of an independeiit examiiiation" OT the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Rcporting Standard applicablc in thc UK and Repiiblic of Ireland (FRS 102)). I have no concerns and hav¢ cornc across 110 other mattcrs in ¢onncction with the examination to which attention should be drawn in this report in order to enable a proper understandin(y of the accounts to be reached. E H TURKSON ACMA HESSE ARMAH 456 High Road Leyton London EIO 6QE Datc: 6 ScptLmber 2024 Page 6
GHANA U[oN STATEMENT OF FINANCIAL ACTJVtTIES FOR THE YEAR ENDED 31 MARCH 2024 20?4 Total funds 20?3 Tutal funds Unrestricted fillld Restricted fund Notes INCOME knND ETr4DOWMENTS FROM Donations aIid legacies 28,615 28,615 20,674 Investment Income 218 218 38 Total 28,833 28,833 20,712 4 XPEINDITURE OIN Charitable activities Charitable Activities 27,591 27,591 18,IC)3 NET INCOME 1,242 1,242 2,549 RECONCILIATION OF FUNDS Tolal funds brought fon4rard 18,071 20,000 38,071 35,522 TOTAL FUNDS CARRIED FORWARD 19,313 20,000 39,313 38,071 Thc notes forni part of these financial statenients
GHANA IfNION BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Tulal funds Unrestricted fund RestrictLd fund Notes FIXED ASSETS TangibIe assets 153 153 177 CUIUIENT ASSETS Investsnents Prepayinents and accrned income Cash at bank and in hand 20,000 20,000 3,307 17,147 20,000 3,483 15,330 3,307 17,147 20,454 20,000 40,454 38,813 CREDITORS Amounts falling due within vnc year (1,294) (1,294) (919) NET CURRENT ASSETS 19,160 20,000 39,160 37,894 TOTAL ASSETS LESS CURRENT LIABILITIES 19,313 20,000 39,313 38,071 NET ASSETS 19,313 20,000 39,313 38,071 FUNDS uCStr1ctcd fLinds RebtsiLted funds 19,313 20,000 18,071 20,000 TOTAL FUNDS 39,.313 38,071 The charitable company is entitled to exeniption from audit Lmder Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtaiii an audit of its financial Statements for the year elided 31 March 2024 in accordance with Section 476 of the Companics Act 2006. The trustees acknowledge their respoiisibiLities for (a) cnsuring that thc charitablc coinpany keeps accounting records that comply with Section,8 386 and 387 of the Companies Act 2006 and pi-eparing financial statements which give a <md fdir view of the state of dffdirs of the charit(Ible compan! as at the end of each fiiiancial year and of its surplus or defIcit for each fmancial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirernents of the Companies Act 2006 I-elating to financial statements, so far as applicable to the charitable company. (b) The notes foi"m part of these fLnancial statements
GHANA UNION BALANCE SHEET - continued 31 MARCH 2024 These fmancial statcmellts have been prepared ill accordance with the provisions applicable to charitable companies subject to the small Lompanies regime. The fmancial statements were approved by the Board of Trustees and authorised for issue on 6 September 2024 and were signed on its behalf by: A Shardow (Treasurer) - Trustee E Quayson (Chair) - Trustee The notes form part of these financial statements Page 9
GHANA UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIIARCH 2024 ACCOUNTING POLICJES Basis of preparing the financial statements The fanCi statements of the charitable company: which is a public benefit entity ullder FRS 102, havc been pi"cparcd in accordancc with the Charities SORP (FRS 102) 'Accounling and Ktporting by Charities: Statement of RLcommended Practice applicable to charities pi-eparing theii. accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standaid applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements havc been prepared under the historical cost convention. Income All income is recognised in the Stalemellt of Financial Activities once the charity has entitlemeiit to the funds, it is probable that the income will be received and the amount can be measured reliably_ Expenditure Liabilities are recognised as expendittire as soon as there is a legal or consttuctive obligation committing the charity to that expenditUTe, it is probable that a transfer of economic benefIts will be required in Settlement and the amouiit of the obliLTation Cdn be measured reliably. Expenditure is accounted for on an accruals basis and has been classifled under headings that aggregate all cost relatcd to the category. Where costs caniiol be directly attributed to particular headings they have been allocated to actiiiities on a basis consistent with the use of re.sc)urces. Tangible fixed assets Depreciatioil is provided at the following anniial rates in Order to write off each asset over its estimated useful life. Plant and machinery Fixtures and fittings Computer equipnient 200/0 on rcducing balance 20 /0 on reducing balance 20 /0 on reducing balance Taxation The charity is exempt from corporation tax on its charitable actiiiities. Fund accounting Unrestricted funds can 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 tlie charity. Restrictions arise when specified by the doiior or when funds are raised for particular restricted purposes. Further expl<mation of the nathre and purpose of each fund is included in the notes to the financial slatemcnts. INVESTMENT INCOME 2024 2023 Interest receivable 218 38 Page 10
GHANA UIYION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 M.ARCH 2024 NET tNCOME/(EXPENDITURE) Net incomel{cxpcnditurc) is stated after charging/(crediting): 2024 2023 Depreciation - owned assets 24 62 TRUSTEES, REMUNEIUTION AND BENEFITS Thcrc wci"e no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 202i. Trustees, expenses Therc were no tnEStees' expenscs paid for the year ended 31 March 2024 nor for the year ended 31 March 202J. COIIffjPARATIVES FOR THE STATEIWIENT OF FINANCIAL ACTIVITIES UnresLTicled fund Rcsttictcd fund Tolal funds INCOME AND ENDOWMENTS FROM Donations and legacies 20,674 20,674 Investment income 38 38 Total 20,712 20,712 EXPENDITURE ON Charitable activities Chai-itable Activities 18.163 18,163 NET INCOME 2,549 2,549 RECONCILIATION OF FUNDS Total funds brought fonvai"d 15,522 20,000 35,522 TOTAL FUNDS CARRIED FORWARD 18,071 20.000 38,071 Pagell
GHANI A UN10Tr4 NOTES TO THE FtNANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Fixtures Plant and machinery Computer equiptllent fittings Totals COST At l April 2023 and 31 March 2024 2,156 530 2.65? 5.338 DEPRECIATION Ai l April 2023 Charge for year 2,156 544 14) 2,461 38 5,161 24 At 31 M(Irch 2024 2,156 53() 2,499 5,185 NET BOOK VALUE At 31 Marcli 2024 153 153 At J l MarLh 2023 (14) IL)1 177 CURRENT ASSET INVESTMENTS 2024 2023 Investments-Gh. Pty Services 20,000 20,000 CREDITORS: AMOUTr4TS FALLING DUE WITHtN ONE YEAR 2024 2023 Accrued expenses 1,294 919 1,294 919 MOVEMC4 NT IN FUNDS Net Inovement in ndS At 31.3.24 At 1.4.?3 Unrestricted funds Gencral fund 18,071 1,242 19,313 Restricted funds Restricted fund 20,000 20,000 TOTAL FUNDS 38.071 1,24? -39,313 Page 12
CHANA UNTON NOTES TO THE FtNAJNCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT LN FUNDS - continued Net movement in funds, included in the above al-e d&) follows- Incoming re.sources Resources expended Movement in fuiid% Unrestricted funds General fvnd 28,833 (27,59l) 1,242 TOTAL FUNDS 28,833 (27,591) 1,242 Comparatives for moiiement in funds Net moveiiient in fun.ds At 31.3.23 At 1.4.22 UnrestriLted funds Gcner?£ I fLind 15,522 2,549 18,071 Restricted fu nds Rcstricted fund 20,000 20,000 TOTAL FUNDS 35.522 2,549 38,071 Comparative net Inovemeiit in funds, incliided in the above are as foIlows= Incoming resourccs Resources cxpcnded Movem¢nt in funds Unrestricted funds General fund 20,712 (18,163) 2,549 TOTAL FUNDS 20.712 (18,163) 2,549 A current year 12 tnonths and prior year 12 months coinbined position is as follows= Net movement in funds At 31.3.24 At 1.4.?2 Unrestricted funds Geiieral fund 15,522 3,791 19,313 Restricted funds Restricted fund 20,000 20,000 TOTAL FUNDS 35.522 3,791 39.31_3 Page 13
GHANA UNION NOTES TO THE FINANCIAL STATETrIENTS- continued FOR THE YEAR ENDED 31 MItRCH 2024 MOVEMENT LN FUNDS - contillued A current year 12 nionths and prior year 12 months combined net movement in fLmds, included in the above are as follows= Incoining resoui-ces Resources expended Movement in funds Unrestrictcd funds General fund 49,545 (45,754) 3,791 TOTAL FUIYDS 49,545 (45,754) 3,791 10. RELATED PARTY DISCLOSLTRES Thcre wer¢ no related party transactions for the year ended J l MarLh ?024. Pagc 14