RECEIVED 2 5 SEP 3024 RwandaAction RWANDA AcfioN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Company Re8iStration Number. 06610865 (England and Wales) Registered Charity Number: 1124634
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Contents Company Information Report of the Trustees Statement of Trustees, Responsibilities Independent Examiner's Report io-ii Statement of Financial Artivities 12 Statement of Financial Position 13 Notes to the Financial Statements 14-17
ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Company Information Company Registration Number 06610865 (England and Wales) Reglstered Charity Number 1124634 Trustees Mrs Deanne Thomas (Chair) Mr William Gellin8 Dr John Giles (appointed 22 April 20241 Mr Patrick Henchoz (appointed 16 September 2023) Ms Emma Messias Mrs Jane O'Brien {appointed 20July 2023} Mrs Emma Ogilvie Mr RemyTwirin8iyimana Mrs Alison Wri8ht Mrs Deborah Clayton-Hatfield {resigned 21 March 20231 Mr Simon Caffyn (resigned 30 April 2023) Ms Stephanie Piper (resigned 6 June 2023} Mr Mark Chamberlen (resigned 12June 2023} Mr Tim Haynes (resigned 13 June 20231 Key Management Personnel Ms Janyis Watson (CEO) Mr David Chaplin {Founderl Re8FStered Office Bugsell Fami, Bugsell Lane Robertsbridge East Sussex TN32 SEN Secretary Mr Charles Ogilvle, ACA Independent Examiner Keith M Luck FCA, LLP Partner Gibbons Mannin8ton & Phipps LLP 24 Landgate Rye. East Sussex TN317U Bankers Barclays Bank pic New Market Place Beccles. Suffolk NR34 9HD l and M Bank (Rwandal Limited Kamembe Rusizi Rwanda
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Report of the Trustees The Trustees present their Report along with the Financial Statements of the Charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 14 and 15 and comply with the Charty's Articles Of Association, the Charities Act 2011 and the Statement of Recommended Practice: Accountin8 and Reporting by Charities 2005. Structure, Governance and Management The Charity is a private Company Limtted By Guarantee and was registered at Companies House under number 06610865 on 4 June 2008. The Charitywa5 registered by the Charity st Commission under number 1124634 on 21 June 2(Xi8. The Charity changed its name from "Rwanda Aid- to -Rwanda Action" on 17 November 2020, in order to better reflect its objectives and activities. The Charity is governed by a Memorandum and Articles Of Association, which were last amended by Special Resolution on 14 December 2019 and are available to be viewed at Companies House. The Trustees hold Board Meetings quarterly to review the status and progress of the Charity. Formal minutes are taken and retained by the Company Secretary. The number of Trustees permitted by the Articles Of Association shall be not more than twelve and not less than three. If the numberfalls to three, a fourth shall be appointed. The existing Trustees appoint new Trustees as and when required. One third {or the number nearest one thirdl of the Trustees must retire at each AGM in order of appointment. Eligible Trustees may be re-appointed. A new Trustee would be fully briefed by the Chair and given relevant documents about the Charity and the responsibilities of Trustees. The number of Trustees currently on the board is 9. Mrs Deanne Thomas and Mr William Gelling resigned by rotation at the AGM on 16 September 2023 and were subsequently re- elected as Trustees. Mrs Jane O'Brien and Mr Patrick Henchoz were appointed Trustees during the financial year, and Drjohn Giles was appointed as a Trustee afterthe end of the financial year. Mrs Deborah Clayton-Hatfield. Mr Simon Caffyn, M5 Stephanie Piper, Mr Mark Chamberlen and Mr Tim Haynes all resigned as Directors during the financial year. The Charity is managed by a Chief Executive OfFicer. a Rwandan Country Manager and a Flnance Director. They report to the Trustees at Board Meetings. The Trustees approve annual budgets, discuss progress on the ChartWs activities and projects, review expenditure reports, review bank balances, approve policies and monitorfuture action plans.
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Report of the Trustees (convd) Structure, Governano and Management IconYd} The CEO regularly visits Rwanda and review the delivery of services and budget with the Rwandan team. The Charity employs a Rwandan Country Director who runs the office there and oversees the projects. Each project has a Rwandan manager. Risk Management The Charlty has assessed risk in the UK and in Rwanda. Trustees are presented with a financial report at each meetin& showin8 the movement of all funds. The accounts are examined independently annually. A number of sub-committees of Trustee5 have been established to review areas of operations in detail, such as Finance and Fundraisin& which meet on a regular basis and report to the Board. Trustees and managers have public and employment liability insurance and travel insurance. A safe8uardin8 policy has been established and a Safeguarding sub-commtttee formed, which meets quarterly and reports to the Board. In addition, there is a rolling programme of safeguardingtrainingwithin Rwanda to ensurethat all relevant employees are up to date with best practice for safeguarding. This training consists of recognised online training courses supplemented with training bysenior Rwandan staff. In the UK. Trustees participate in an on- going programme of online safeguardingtraining. In Rwanda the Charity complies with relevant employment legislation and seeks independent legal advice when necessary. It has assessed the risks of all its activities and has put procedures in place to minimise thern. With these procedures and the insurance cover, the Charity is satisfied that it is operating safely, and its assets are not in jeopardy. Objectives and Activities The Objects of the Charity. updated on 14 December 2019 are to relieve poverty in Rwanda, particularly in thewestern Province.to advance education and to provide relief in thecountry to those in need by reason of youth. age. ill-health. disability or financial hardship. The Chartty aims to achieve this by working with the government and local communities in Rwanda to identify the most pressing challenges and then piloting sustainable initiatives to address those challenges. In particular the Charity promotes effertive education. vocational and fann training and enterprise. It also supports inclusivity particularly for those on the margins of society. especially street children and young people living with disability.
ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA ACTION Report of the Trustees (conyd) Public Benefrt Entity The Trustees are of the view that Rwanda Action meets the definition of a public benefit entity. Its primary objective is to provide services for the general public or social benefit and there is no objective to provide a financial return to members. Achlevements and Perforniance 2023 saw significant changes to Rwanda Action's personnel in both Rwanda and UK. Following the departure of the previou5 CEO, Janyis Watson was promoted into this role from the Operations Director position. This gave us the opportunityto build capacity and increase the responsibilities of the team in Rwanda, rather than further recruitment in the UK. At the request of the trustees the CEO produced a three year strategic plan which was given Board approval in March 2024. Thi5 will help guide the development of each project area, financial forecasting and ndraiSIng. Administration The CEO spent time recrutting and inducting a new Country Director in Rwanda and the management teams from both countries continue towork closelytogether. following policies and procedures set out in the Organisational Manual. Policies were revised and approved by the Board in September. Further training in safeguarding was delivered to staff in Rwanda. Annual reports, budgets and action plans were submitted to Rwandan authorities and a three year certlficate of registration was awarded by central government. allowing us to continue to operate in Rwanda. Disabili At the Alivera Centre. 45 children were resident during term time and all the school-age children with disabilities and learning challenges attended the local mainstream school, supported by RA staff and RA-trained local teachers. We have worked closely with teaching staff to overcome some additional challenges faced by children this year, due to changes to school hours and public examinations. Parents of children wf(h hearing disabilities attended residential training in sign language each term as well as disability awareness and safeguarding training. Trainees in residence at the Alivera Centre receive training in sign language and basic numeracy and literacy, alongside their chosen profession.
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Report of the Trustees (cont'd) Achievements and Performance {conYdl Disabilit {conYd) A further three students were supported will senior school requirements at boarding school. The café and workshops in the Alivera Willage continue to be rented to small enterprises and we have further developed the farm and the dairy goat project. which will link to our farmer training programme in communities. Rwanda Action supports trainees with disabilities to find employment after graduating from the Village. Throughout 2023 there were 43 trainees in the Willage and eight of those have graduated and are now in employment. We continue working with a local doctor to provide health screening for all students and trainees. This helps to inform both basic heaFthcare and recommendations for additional medical support. In 2023. there was significantly greater support for the project from local government, including funding for running costs and the development of an inclusive education programme in government schools in fifteen sectors. Enter Rwanda Action completed the support of ten new enterprise groups set up in 2022 in Kinyaga and Save and continues to monitor the progress of their businesses. A further five enterprise groups were set up in Rugabano cell, which gave trainin& equipment and support to a total of 71 young people who were previously unemployed. We held an Enterprise networking event for enterprise groups supported by Rwanda Attion over the past few years. Advice was shared by speakers from government and banks and representatives of the enterprise groups shared experiences and offered peer support. Farm Trainin In 2023, we provided training in keeping livestock and growing crops to fifteen associations of farmers in Kinyaga, Rugabanoand Save cells. Atotal of 225 farmers were supported beyond their training with a goat each and materials to build a pen. Each association was also given a rented plot of land for three years. seeds and basic tools. All these associations are being monitored and all members report improvements in their standard of living and general stabiltty.
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Report of the Trustees (conyd) Achievements and Performance Icont'dl Farm Trainin {conVd) Rwanda Action supported two community-based tree nurseries, each of which produced more than 20,OCKI tree seedlings for the benefft of farmers and the wider community. We also supported five tree nurseries via RDIS (Rural Development Inter-Diocesan Services). With this support, more than 151,000 seedlings were produced and planted in the communities in five sectors. The species planted offer many benefrts, including food, shade, protection against soil erosion, construction materials and soil improvement. Student S onsorshi The population of Nkombo Island in Lake Kivu relies on fishing because land for farming is in short supply. To improve prospects for young people. some years ago Rwanda Action built Nkombo TVEf, a centre for technical and vocational education and training. In 2023, we completed the support of 60 students in the 2022-23 academic year and began support for further 60 students in the September intake. The students received theoretical and practical training in one subject {either masonry, tailorin& carpentry. welding or electrics). In 2023, we recruited new children to our Saturday club and this time we were delighted to see both boys and girls attending. The club is aimed at children who are considered to be at risk due to their living conditions. The children benefrt from breakfast and lunch. game5, dancing and drurnming lessons. support with homework and counselling. We also liaise with theirfamilies and teachers to ensure the best outcomesforthe children in theircommunities. The 20 Saturday club members and another 19 students were supported with school fees, materials and unrforms across the two academic years. Education Whilst over 90% of children in Rwanda are registered in nine years basic schoolin& there is a high drop-out rate. A key reason for this is the absence of enough well-trained teachers. Rwanda Action has piloted and developed an innovative School-Based Mentor ISBMI programme which provides in-service training for teachers with a special emphasis on learner-centred teaching and careful assessment and differentiation.
ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Report of the Trustees (convd) Achievements and Performance {cont'dl Education {conVd) In 2023 we targeted two areas of education. Through Continuous Professional Developmentwe continued to train and support our 33 Lead Teachers across thetwo districts. broadening out from teaching them English to providing training to deliver the curriculum effectively. RA'S team monitors the LeadTeachers asthey providedtrainingto 889 education professionals including Head Teachers. Directors of Studies, School Subject Leads and School Based Mentors, who in turn provided peer training. In total. 9,422 students benefrtted from improved teaching across the two districts. The Learning Initiative ITLI) started in 2020 to provide in-depth training to teachers from the 16 lowest performing schools in our area. Having demonstrated very encouraging results in these schools, the programme was extended to 50 primary schools. although dueto a new programme beingrolled out, this numberwas reduced to 36 schools in 2023. TLI equips teachers wtth the skills to teach more effectively and improve learning by using formative assessments to plan lessons and teach at the right level. Initial results have been very encouraging. Showing improvements in student performance and retention in TLI schools as well as when compared to non-TLI schools. Financial Review The Charitrfs income in 2023 was £315.763. Expenditure in 2023 was £295,917, resulting in net incoming resources for the year of £19.846. This, together with prior years, funds brought forward, resulted in charitable funds at 31 December 2023 of £275.682. Reserves Poli The Trustees have examined the ChariVs requirements for reserves and have established a policy whereby undesignated funds should be maintained such that between &9 months of expenditure are covered.
ANNUAL REPORT AND UNAUDFTED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Report of the Trustees (conyd) Finanual Revlew {conYd) Investment Poli The Charity does not intend to hold any long-tem investments. Cash not immediately needed is held in an interest-earning savings account. Post Balance Sheet Events There were no material post Balance Sheet events to report. Plans for Future PerFods The Charity intends to continue the projects detailed above where appropriate and as far as funding is available. Rwanda Artion is committed to devofving increasing responsibilty to the Rwandan team for providing care and trainin& working closely with the Districts and the community. Condusion TheTrustees would liketo express theirappreciation toall who have so generouslysupported the work of the Charity by their gifts of money, time, energy and expertise.
ANNUAL REPORT AND UNAUDITED FINANCIALsfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Statement of Trustees, Responsibilities The Charity Trustees (who are a150 the Directors of Rwanda Artion for the purposes of company law) are responsible for preparing a Trustees. Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and the law applicable to charities in EngEand and Wales requires the Charity Trusteesto preparefinancial statementsforeach financial yearwhich give a trueand fairview ofthe state of affairs ofthe charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those finanaal statements the Trustees are required to: la) select Suitable accounting polictes and then apply them consistently- Ib} observe the methods and principles in the Charities SORP; Icl make judgements and estimatesthat are reax)nable and prudent; Id) state whether the policies adopted are in accordance wlth the appropriate Statement of Recommended Practice on Accounting bycharrties and the Accounting Regulations. and with applicable accounting standards. subjett to any material departures disclosed and explained in the financial statements: and le) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records which dlsclose, wlth reasonable accuracy at any time, the financial position of the Charity. and enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Prartice and the Companies Act 21J)6. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. By order of the Board of Trustees Date: September 2024 Deanne Thomas Chair Rwanda Attion
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Independent Examiner's Report Report to the Trustees l Dirertors of Rwanda Act70n (Charity no. 1124634, Company no. 06610865) on accounts for the year ended 31 December 2023. I report to the CharFty Trustees on my examtnation of the accounts of the Company for the year ended 31 December 2023. Responslbllltles and basis of report As the Charttrfs Trustees of the Company (who are also the Directors of the Company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2(K)61-the 21]]6 ACV). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2CM)6 Act and are eligible for independent examination, I report in respect of my examination of your Charitvs accounts as carried out under section 145 of the Charities Act 2011 {"the 2011 Arf). In carrying out my examination. I have followed the Directions gNen by the Charity Commission {under section 145{5llb) of the 2011 Act. Independent examiner's statement The companws gross income exceeded £250,OLX) and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006.- or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the CompaniesAct 21])6otherthan any requirementthatthe accounts give a 'true and fairf wew whKh is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the Charities SORP {FRS1021. io-
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Independent Examiner's Report (cont'd) I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Date: September 2024 Keith M Luck FCA LLP Partner Gibbons Mannington & Phipps LLP 24 Landgate Rye East Sussex TN317U li-
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Company Regi5tr3tlon Number= 06610865 Rew'stered Charity NUmtr. 1124634 STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Income and Expenditure Account) for the year to 31 December 2023 Notes 2023 £ 2023 £ 2022 £ 2022 £ Incoming resources Incoming resources from generated funds Voluntary income- general funds Interest Income 294,875 187.256 2,772 2,868 297.647 190,124 Voluntary income- designated funds Tott71 incoming resources 18,116 12,921 315.763 203.045 Resources expended Charitable artivities- general funds Charitable activities - designated funds Totol resources expended 233,722 269,515 62,195 79,443 295.917 348,958 Net incoming / {outgoing} resources 19.846 1145,9131 Total funds brought forward 255,836 401,749 Net incoming / (outgoing) resources 19,846 {145,9131 Total funds carried forward 275.682 255,836 -12-
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN Company Registration Number= 06610865 Registered Ch8tity Number= 1124634 STATEMENTOF FINANCIAL POSITION at 31 December 2023 Note5 2023 £ 2023 £ 2022 £ 2022 £ Fixed Gssets Tangible Assets Current a55ets Debtors and prepayments Cash at bank and in hand 1.436 276.658 278,094 2.412 2,069 258,125 260,194 4,358 Creditors 275,682 275,682 255,836 255,836 Total Assets Capital and Reserves Called up share capital Charitable funds Designated Undesi8nated 28,685 246,997 72,764 183,072 275,682 275,682 255,836 255,836 For the year ended 31 December 2023 the company was entttled to exemption from audit under section 477 of the Companies Act 2(M)6 relatin8to small companies. Dirertors, responsibilities The members have not required the companyto obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to tompanies subject to the small companies, regime. The financial statements were approved by the Board of Trustees on eptember 2024. Deanne Thomas Chair of Trustees on behalf of the Trustees 13-
ANNUAL REPORT AND UNAUDITED FINANCIALSfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA ACTION NOTES TO THE ACCOUNTS Statuto Information Rwanda Action is an incorporated charity. limited by guarantee. registered in England & Wales. The charttws registered number and registered office address can be found in the Report of the Trustees. Accounting policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial Statements are as follows: Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective l January 20151- {Chartties SORP IFRS 102}I, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Assets and liabiltties are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notels). Public benefft entity TheTru5teesare oftheviewthat Rwanda Action meetsthe definition of a public benefit entity under FRS 102. Its primary objective is to provide services for the general public or social benefit and there is no objective to provide a financial return to members. Preparation of the accounts on a going concem basis The Trustees are of the view that there are no material uncertainties around the ability to raise donations and voluntary income and around the ability of the Chartty to continue to provide funding for its charitable activities. The Trustees therefore consider that the Charity is a going concern. Income and recognition of incoming resources Income represents the amounts receivable from donors and other parties by the Charity excluding value added tax. These are included in the Statement of Financial Activities (SOFA) when the Charity becomes entitled to the resources," the Trustees are virtually certain they will receivethe resources," and the monetaryvalue can be measured with sufFicient reliabiltty. Donations are only included in the SOFA when the Charity has unconditional entitlement to the resources. The value of any voluntary help received is not included in the accounts but is described in the Trustees, Annual Report. Investment income is included in the accounts when receivable. -14-
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN NOTES TO THE ACCOUNTS (cont'd) Accounting policies Iconyd) Liability recognition Liabilities are recognised as soon as there is legal or construttive obllgatlon commlttlng the Charity to pay out resources. Foreign currency translation In preparing the finanual statements. transactions in currencies other than the functional currency of the company are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are recognised in profft or loss in the period in which they arise. Tangible Fixed assets and depreciation These are capitalised if they can be used for more than one year, have a re-sale value and cost at least £5. They are valued at cost or a reasonable value on receipt. Depreciation is provided on a straight line basis so as to write down the cost of tangible assets. less their estimated residual value, over their estimated lives. The rates used are: Motor vehicle5 25% per annum Net Incoming Resources forthe Year The net incoming SoUrceS for the year is stated after. 2023 £ 2022 £ The net incoming resources forthe year is after charging: Director5, and Trustees. emoluments and expenses Independent examiner's fees for reporting on the accounts Otherfees paid to the independent examiner Depreciation charged during the period Foreign exchange losses / (gains) 996 271 {1,2571 15-
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN NOTES TO THE ACCOUNTS (cont'd) Staff Costs 2023 £ 84.900 4,833 1,663 7,500 98,896 2022 £ 78,000 3,346 2.000 Salaries and wages Social security costs Pension costs Ex gratia payments Total 83,346 No employee received emoluments of more than £60,j0. The average number of employees during the year, calculated as average head count on the basis of full-time equivalents, was 212021- 2) Creditors 2023 £ 1,155 1,257 2,412 2022 £ 3.337 1.021 4,358 Taxation and Social Security Other creditors Total Taxation 2023 £ 2022 £ UK and Rwanda current year taxation Tangible fixed assets Motor vehides Cost At l January 2023 Additions Disposals At 31 December 2023 44,625 44,625 Depreciation At l January 2023 Provided in the year Disposals At 31 December 2023 44.625 44,625 Net book value at l January 2023 Net book value at 31 December 2023 -16-
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 RWANDA AcfioN NOTES TO THE ACCOUNTS (cont'd) Designated Funds Balances brought forward Balances carried fOard Income Expenditure Funds Summary The Alivera Village Educational development and scholarships Baho Neza MVna Street Child Willage New Enterprise funding and support Tree nurseries 37.353 37,353 5,173 2,864 3,166 4,871 5.855 3,849 9,197 2,006 9.197 200 21X) Dairy Goat Projett 30,238 8,430 21,808 72,764 18,116 62.195 28,685 Ail the funds are Income Funds and have no restrictions other than for general use in the specified fund. There were a number of transFers from the general lundesignated} fund to designated funds during the year. This is considered normal practice for the company. These transfers are made to ensure that the activities within the designated projects were fully funded: £8,019 was transferred to New Enterprise funding and support; £3.133 was transferred to Tree nurseries. Voluntary income 2023 £ 295.452 17.539 312,991 2022 £ 180,797 19,380 200,177 Income from donations and legacies Income from other trading artivities Total Share capwtal The company is a private company. limited by guarantee and exempt under section 30 of the Companies Act, and therefore has no share capital. 10. Transactions with related parties There were no transactions with related parties durin8 the period. -17-