Company number: 06553113 Charity number: 1126392 THE POINT FOUNDATION (A company limited by guarantee) Unaudited financial statements Year ended 5 April 2024
THE POINT FOUNDATION (A company limited by guaraDtee) INDEX Company Informalion Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the FinAncial Statements io
THE POINT FOUNDATION (A company limited by guarantee) COMPANY INFORMATION PATRON Sally Gunnell OBE Patron TRUSTEES Charles L Trace Tim R R Kerr Adrian L Hammond Chairn]an Secretary Treasurer SECRETARY Tirn R R Kerr REGISTERED OFFICE A5hteigb House Sands Lane Small Dole West Sussex BN5 9YL COMPANY NUMBER 06553113 CHARrrY NUMBER 1126392 INDEPENDENT EXAMINER David Hoose. FCA Forvi5 Mazars LLP First Floor 2 Chamberfain Square Binningham B3 3AX BANKERS National Westminster Bank plc 149 Preston Road Brtghton BNI 6AS SOLICITORS GTiffith Smith LLP 32 KeymerRoad Hassocks BN6 8AL
THE POINT FOUNDATION (A company limited by guarantee) REPORT OF THE TRUSTEES For the year ended S April 2024 The Trustees present their report and the financial statements for the year ended 5 April 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Constitution The Point Foundation is constituted as a company limited by guarantee and a registered charity governed by its memorandum and articles of association. The organisation was incorporated on the 2 April 2008 and became a registered charity on 22 October 2008. Objects of the Charity The Charity's Focu5 and 5taternent is "Live. Life & Learn At the beginning of the Charity. the Trustees decided to concentrate only on a select number of projects where we could focus all our energies into making a real difference. Sixteen years on, our strategy continues with around 5,500 vulnerable and special needs children and youths directly benefiting from our support over this period, by means of financial support and guidance, primarily through education but also with housing, equipmenL hygiene, medtcal. food and clothing supplies and infrastwcture projects. In 2019, we started on a completely new project in partnership with Ubumwe Community Centre (UCC), whom we previously partnered with in 2013 on our Community Based Living (CBL) project, that would become our Vocational Training Centre (VTC). Situated in the district of Mwogo. (one of Rwanda's poorest regions and close to Bugesera), we started by refijrbishing a number of old buildings which we rented and 45 students, main]y People with Disabilities (PwD5) and youth4 started courses in tailoring and hair and beauty. In late 2021, we started the process of working with donor partners, to buy land and to then build a vational Training Centre in Mwogo, which would be our largest legacy project slnce we started. During 2022 and into 2023. we embarked on a large-scaie building programme that would see two house4 a culinary kitchen, refectory, 2 large classrooms and a fam] completed, with approximately 120 students attending courses in Culinary. Barisw Tailoring, Literacy and Hair and Beauty. In late 2023, we started a new building7 to house a new computer classroom and a new library with an expected opening date of 25 October 2024, which is graduation day. By this date we will have trained around 300 students at Mwogo VTC. The annual cost of running our Mwogo project now amounts to about £45,000, which includes contributing to thirteen staff salaries. food, power. school materials, medical support, farn] expenses, our nutiitional Wednesday Club for local children, graduation and support in setting up Co-operatives. Our income for the financial year 2023124 continued in the same vein as 202212023 with OUT two main donors, leapigs. (now owned by Tata Consumer Products) and Caffe Praego, continuing to fund projects through our UK account. In addition, we have worked very hard with three inlemational donors based in the USA (Morgrldge Foundation. Camphill Founaation and AVA'5 Jammies) to support the growth of Mwogo VTC with their donations going dirertly to our proje partner. UCC, for them to manage and implement. With continued pru(4ent planning, we were able to continue to support our other projects financially. including paying school fees, buying schoolbook5, paying medical fees, and contributing to nine tea¢hers' monthly salarie5. During 2023124, we have worked closely with the following five institutions.. Uburnwe Community Centre (UCC) (providing specialist disability-based support) House of Children School Mwogo Vocational Training Centre (Mwogo VTC) La Gennaine School Izere Community Centre for Cerebral Palsy children
THE POINT FOUNDATION (A company limited by guarantee) REPORT OF THE TRUSTEES For the year ended 5 Apri12024 Objects of the Charity (continued) We have concluded our university programme. supporting ex-Noel Orphanage sdentS with secondary school education (including fees and transport) and those attending university (fees, accommodation, book5, food and transport. as well as graduation wsts). Over the years, this programme has funded 145 students as they cornpleted university courses. In 2017, we were presented with an award for'outstandkng and Significant Contiibution to Rwandan Education" Also, in March 2019, we were presented with an award for "SibFnificant Contribution to the Grotth of University of Tourism & Business., Both awards were made by the University of Tourism & Business, Kigali, Rwanda at their graduation ceremonies. With both Rwanda and South Africa suffering from food shortages and financial hardship, we have continued to help a number of known individuals and families in Rwanda by paying for food parcels, house rent5. medicines and clothing for them. For our other four projects, we have continued to fund school fees. tran5POrt, unifornis, shoes, and milk and provide lunch for 95 special needs children at House of Children. In addition. we have paid for one-off purchases such water tanks, library and school b<)oks. sewing Machines, braille machines and other essential items. Structure, Governance and Management The Point Foundation is a company limited by guarantee and a regtstered charity in England and Wales. Sally Gunnell. OBE, continues as the Poini Foundation's Palron and takes an active interest in all the work the Charity is doing. During the past financial year, the management tearn, who form the Key Management Personnel of The Point Foundation. has included the Chairman (Founder), the Company Secretary and the Treasurer. The fonner Administratorlmarketing support manager, who provides our social networking, media, newsletters. website updates and communication to our fundraising supporters, has been promoted to Chief Operating Offjcer and continues as our direct liaison officer, working closely with our projects manager in Rwanda. The management team communicates weekly but, due to differing locations of members of the team, now only meets formally a few times a year for Board Meetings to discuss ongoing projects, future strategy. grant making considerations and fundratsing activities. However, the team continues to meet infonnally between Board meetings to discuss specific project5. Over the years, Board members have visited one or more of the Charity's various projects to check on progregs and to ensure the funds allocated to each project have been correctly spent and accounted. All Trustees give their time freely and no trustee remuneration was paid in the year ended 5 April 2024. Details of Trustees expenses and related transactions are disclosed in note 7 to the accounts. Achievements and perforniance During the year ended 5 April 2024. we continued to raise much-needed funds, which were focused on our five main projects, as detailed above. Our fundraising is focused exclusively on corporate funding. This has been a successful move and meant we were able to raise the monthly funds needed to fulfil our needs. Fundraising has been achieved prtrnarily through two close partnerships with Caffe Praego Coffee Company, owned by Hallmark Vending Ltd, who buy their coffee and tea locally to our projects in Rwanda, and also with teapigs, owned by Tata Consumer Products, who buy their tea from Pfunda Tea Company. again based just 10 minutes from the heart of our projects. We continue our media activities on the internet through Facebook and Instagram, which are updated weekly. This is extremely important as it keeps the staff of the organisations mentioned above fully up to date. Some of our internationat donors pay their donation5 direct to the projects in Rwanda. due to high bank charges and poor exchange rates. wtth their funds paid directly to UCC for infrastructure projects, local suppliers providing f¢x)d, medication and living items, and The Point Foundation simply manages the process. Our Projects Manager, Viateur Uwambajimana. continues to work hard and deliver the managemenl needed to support our work. Viateur is responsible for managing all our projects on the ground and he keeps in touch daily by email and by weekly Skype calls. He is also a highly qualified physiotherapist - ideal for helping People with Disabilities (PWDS) and children with cerebral palsy.
THE POINT FOUNDATION (A company limited by guarantee) REPORT OF THE TRUSTEES For the year ended 5 April 2024 Disability Programme Our partnership with UCC in Giseyni {a specialist disabiltty centre) started in 2013 and they continue to provide support and care to hundreds of local people with special needs. The Point Foundation is now their second highest donor supporting this very worthy cause. UCC are our Non-governmentsl Organisation (NGO) partner with legal status in Rwanda and have overall responsibility for the Mwogo VTC project. Due to their severe lack of funding. we continued to support Izere Community Centre, based outside Kigali. This small centre concentrales on supporting loca] special needs children. This year we continued to fund an outreach programme providing physiotherapy for children who have severe cerebral palsy and who are unable to get to th¢ Centre, and we have added more equipment to the playground area. We also contribute to four teachers, salaries. Individual Support During 2022123 we continued sUPPOrting a few ex-Noel Orphanage children who are now young adults. Where they have not been able to get jobs and, as a consequence, are suffering from lack of shelter and food, or where they have severe special needs. we have sUPPOrted them with a small monthly allowance of between £50 and £100, dependant on their medical needs. This has been a life saver in particular for Gracie (an albino with severe skin disease), Kevin¢ (severe disability), Rifiki (menta]), Moween (disability) and Gasigwa (Htv). We also SUPPOrted a family of five childien whose father had died and whose mother had walked out. Support included provision of food, shelter and Tnedical supplie5. A young 16-year-old boy called Innocent is very badly disabled and with only one arn) and badly disfigwred legs. We have paid his school fees for 5 years now but when his parents threw him oul of their home, we worked with UCC to provide him with safe accommodation. We now cover his boarding, fees, school fees, clothes, medical and food costs al about £950 per annum. Trustee and Volunteer visits The Chainnan and the Administration manager visited Rwanda in November 2022 and May 2023 and our next planned visit is in October 2024. Although we keep in touch regularly by ematl and Skype, by visiting the projects ourselves we can ensure that our funding is being used as it should be, and that every penny sent to Rwanda is used correctly. Public Benefit The Trnstees have refeed to the guidance contained in the Charity Comrnission's general guidance on public benefit when reviewing the Charity's aims and objectives, as well as in planning its activities. Our activitie5 currently canied out for the public benefit are detailed earlier in the Report of the Trustees but in gieneral terms our objectives are centred on the words "Live. Life & Learn" In this context the Charity looks to relieve poverty. sickness and distress, as well as advance the education of vulnerable people, in particular but not exclusively. in Afric4 by making grants of money for providing or paying for items. services and facilities in order to achieve our objectives. Due to the exceptionat circumstances affecting countries around the world as a result of the COVtD-19 pandemic, the management team detemined, in March 2020, to review and expand the Charity's aims and objectives, and ihese expanded aims and objectives were agreed by the Charity Commtssion in June 2020.
THE POINT FOUNDATION (A company limited by guarantee) REPORT OF THE TRUSTEES For the year ended 5 Apri12024 Financial review The Point Foundation's work is entirely dependent on donations coming in from known individuals and companies. Donations received are immediately deposited in our bank cuJrent account with the monies usually used fairly quickly on current projects. Thus far, in view of the limited size of donations received, it has not been our aim to invest monies into anything other than short-tern] interest-bearing investments. However. this is an area that will be kept under review by the Trustees. Given our long-terni commithlents to monthly costs, we retain a healthy savings balance that should for any reason one of our donors pull out, then we are able to have at least 24 months, worth of savings to utilise while looking for alternative funding. During the year ended 5 April 2024. we raised £32.707 of unrestricted donations. In addition, we raised £96,788 of aonations with a restii¢tion on their use. We spent £61.099 of restricted funds on the projects detailed above. After interest receivable of £1,108. support costs of £14,057 and other costs relating to Governance amounting to £24.900, we had the amount of £136,252 available at 5 April 2024 to be carried fon¥ard into our 2024125 development prowme, of which £53,192 represents unrestricted funds and £83.060 represent5 restricted funds. Plans for Future Periods The Point Foundation continues to raise funds, both here in the UK and overseas, principally through our corporate partners. in order to continue to support our current projects. We will continue contributing to the running costs. teacher salaries and other ad hoc costs for House of Children School, Izere Community Centre and Mwogo VTC. In addition, we aim to continue supporting a few named individuals with monthly support. We have no plans to fund any additional infrastructure projects in the fijture. The final phase for Mwogo vrc that has been agreed is the building of a new classroom block containing a computer training room and library. USS60.000 has been raised for this project and work started in late 2023. Our TNstees have dedicated 16 years to the development and support of projects in Rwanda but, bearing in mind that the Trustees are either ai. or coming up to, retirement age. the Board have been considering the future of The Point Foundation. We remain committed to Rwanda and seeing our projects continue to flourish. However. we have found it difficult to put a succession plan together here in UK. so our focus is now to look to hand over the full rnanagement to our Rwanda partners (UCC) sometime in the next 2 to 3 years. We do not foresee any issues with our funding for the next 12 months and this, together 7th our existing reserves, would allow a 24-month schedule of payments to keep the projects fully supported, even if funding dried up during 2024. Risk and Reserves Policy The Trustees have a risk management strategy in place comprising: Submitting annual budgets with monthly updates to ensure projects are fully planned and paid for A half yearly review of the risks the Charity may face The establishment of systems and procedures to mitigate against those rÉsks identified in the review The implementation of procedures designed to prevent any potential impact on the Charity should those risks materiaiise Following best practice and guidance from the Charity Commission In 2016. the Trustees aeed to maintain the amount of £15,0(J) in a contingency rese]ve account so that there would always be at least this amount available for contingencies, should the need arise. The amount maintained in this contingency reserve account is reviewed on a regular basis and on 22 July 2022 the Trustees agreed to increase the SerVe account to £30.000.
THE POINT FOUNDATION (A company limited by guarantee) REPORT OF THE TRUSTEES For the year ended 5 April 2024 Trustees The Trustees of the Charitable Company are its directors for the pUoSe of company law. Current trustees have the power to appoint new trustees. The Trustees, who have served since 6 April 2023 to the date of this repor¢ were a5 follows". C L Trace TRRKerr A L Hammond No Trustee had any interest in the Company by virtue that the Company is limited by guarantee and does not have a share capita]. The Company has purchased Indemnity Insurance for the Trustees of £250,000 (2023: £250,000) at a cost of £375 (2023. £332). Statement of Trnstees Responsibilities The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees, who are Directors for the purpose of company law, to prepare financial statements for each financial year. Under that law. the Trustees hav¢ elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied thal they give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. tn preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consi5tently' Make judgments and accounting estimafrs that are reasonable and prudent. State whether applicable UK Accounting Standards have been followe(t subject to any material departures 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. The Trustees are responsible for keeping adequate accounting records that are sutyicient to Show and explain the Charity's transactions and 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 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities This report has been prepared in accordance with the provisions appltcable to companies subject to the small companies, regime. Approved by the Board of DRrectors on 16 *k$¥4Sf 2024 and signed on Iheir behalf by: RLES L TRACE Chairman
David Hoose (Aug 20, 2024 15:48 GMT+2)
Aug 20, 2024
THE POINT FOUNDATION (A compAny limited by guarantee) ST A TEMENT OF FINANCIAL ACTIvrrtES (incorporating an income and expenditure account) For the year ended S April 2024 Unrestricted Restricted funds funds TolAI funds 2024 Unrestricted Restricted funds funds Tot21 funds 2023 Notes INCOME FROM: Donations Investments 32.707 1.108 96,788 129,495 1,108 27,922 128 128,006 155,928 128 Total 33.815 96.788 130,603 28,050 128.006 156,056 EXPENDITURE OPI: Charitable activities 33,878 66,178 100,056 42.006 108,459 150,465 Total 33,878 66,178 100,156 42,006 108,459 150.465 NET{EXPENDrruRE)/ YCOME {63) 30,610 30,547 (13,9561 19.547 5.591 TOTAL FUNDS BROUGHT FORWARD 53,255 52,450 105,705 67.211 32,903 100,114 TOTAL FUNDS CARRIED FORWARD 53.192 83.060 136,252 53.255 52.450 105.705 The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditsre are derived from continuing activities. The notes on pages 10 to 13 forni part of these financial statements.
THE POINT FOUNDATION (A company limited by guarantee) BALANCE SHEET As at 5 April 2024 Company Number: 6553113 2024 2023 Notes CURRENT ASSETS Cash at bank and in hand 138,112 109,461 138,112 109,461 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR (1,860) (3,756) NET CURRENT ASSETS 136.252 105,705 NET ASSETS 136.252 105,705 REPRESENTED BY: Unrestricted funds General funds Designated Restrtcted funds 23,192 30,000 83.060 23,255 30,000 52,450 136,252 105,705 The notes on pages 10 to 13 fonn part of these financial statements. The Directors consider that the company is entitled to exemption from the requirement to have an audit underthe provisions of section 477 of the Companies Act 2006 {"the A¢t") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 5 April 2024 and of its incorne and expenditure for the year then ended in accordance wilh the requirements of sections 394 and 395 of the Act and which otherwise comply wlth the requirements of the Companies Act 2006 relating to the financia] statements a5 so far as applicable to the Company. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies, regime within Part 15 of the Companies Act 2006. Approved by the Trustees on i L 2024 and si ned on their behalf by.. CHARLES L TRACE ADRIAN L HAMMOND Board of Directors
THE POINT FOUNDATION {A company limited by guarantee) NOTES TO THE FINANCIAL STATE1Ts For the year ended 5 April 2024 ACCOUNTING POLICILS Basis of Actounting The financia] statements arc prepared under the hisÉorical cost convention and in acwrdancc with the Statement of Recomtnend¢d Practice (SORP). applicable to charittes prcparing their accounts in accordance '1th the Financial Repx)rting Standard applicable in the UK and Republic of Ireland (FRS 102) IOctt)ber 2019 cdition) - (Charitie5 SORP (FRS 102)), the Financia] Reporting Standard applieable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Point Foundation meets the definition of a public llefit entity under FRS 102. The accountmg policies, which have been applied consistently, are set out klow.. Income tncome is TrwgDised when the Charitr has r¢¢¢ived or is entitled to the donations when probable. Income is principally derived from the Unit¢d Kingdom. Expenditure Expenditure is recognised on an accruals basis. Costs of RaJ"sing Funds represent dect Costs incurred, incluth.ng trdvel, ¢0Mm(l.0ll and communicatton costs that relate to the fundJ3ising activits.es of the Company. Chan"table Activitv represents amounts SFent on the Company's ¢l]aritable projects. Govcrnan¢¢ Costs arc the costs incurred in relation to administering the Chariti,, and compl)'ing with its statutory and conststutionat obligations. Financial instruments The Charit! onl!, has finaneial assets and financia] liabilities of a kind that qualify, as b&sic fmanciai instruments. Basic financial instTuments are initialls. recognised at tranStIOn value and subsequently me&sured at thcir scttlement value with the exception of bank loan5, which are subsequently mc&sur¢d at amortiscd cost using the effective interest method. Funds UnresirictedFw?ds - these be used at the th'scretion of the Tnjslees in furtherance of the Charity's objects. ResiriciedFup7ds - these represent grants and donations that w¢r¢ 8iven for sCfiC seryices and projects undertaken by the Charity. DesigrniredFutd¥- these are monies eamithed b! the Trustees for spe¢ific projects in furtherance of the Charity's objects. The balances at the balance sheet represent amounts sts"Il to be utilised. Company statu5 The Point FoundatTon is a company limited by guardntee not having a share capital, regis*r¢d in England and Wales, number 06553113. The liability of the members is limited by the Memorandum of Association. Foreign eurrency trAn51alion Transactions dcnomTrnated in foreign currencies are trdnslakd into sterling at the exchange rafr Tuling at tho date of the tIsaCtionS or at an aver¢ rate for thc period if the ratcs do not fluctuatc signtf1&2ntiy. MonctaTI' Lssels and liabilities are translated at the exchange rale ruling at the balance sheet date. All resulting ¢¥change rate differences are included in the nct outgoing resourccs. Going concern The Charity operdtes as a going concem and the Twstees are of th¢ view that it w?11 continue to do so ftir the foreseeable future. After considcring any. future potents"a] impact of the Trustees conttnued commitment to our Rwanda projects and following stress test an5]s, and other relevant risks, thc dircctors are of the that there are suffIcienl rescrves to secure the immediate future ofthe Charity for the next 12 to 18 months and on that basis the ChJn'ty' is a going concern. Statement of £ash nows exemption A statrmeDt of cash flows h&s not [en produced as the charitable company is Mrythin the small charity and companythreshold5. Judgments in applyiog aceounting polieies and key sourtes of estimation utteertainty The charitgble companv makes estimate5 and assumptions conceming the future. The cstimales and &8sumptions have Do matenal impact on the carying amounts of &8sets and liabilities within the accounts. io
THE POtNT FOUNDA TION (A Company limited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS For the year ended 5 April 2024 EXPENDITURE ON CHARrrABLE ACTIVITIES 2024 2023 Activities direcil underiaken.. Rwanda South Africa 57,935 3,164 101,199 3?62 61,099 104J61 Travel and accommodation costs of Trustees managing projecls in Africa Staff costs (Note 4) Computer. printin& stationery and other otTice costs Foreign exchange differences tnsurance 1,372 6,443 5J76 491 375 10,902 7,260 4,731 (2,137) 332 14,057 21,088 Governance L05ts (Note 3) 24,900 24,816 Total 100,056 150,46S GOVERNANCE COSTS 2024 2023 Independent Examiner's fees Office and administration fees (Note 7) 1,860 23,040 1.776 23,040 24,900 24,816 STAFF COSTS 2024 2023 Remuneration to local project manager in Rwanda 6.443 7260 2024 Number 2023 Number Projects No staff had remuneration above £60,000 in the current year (2023.. None).
THE POINT FOUNDATION (A company limited by guarantee) OTES TO THE FINANCIAL STATEIVIENTS For the year ended 5 April 2024 NET INCOME 2024 2023 Net income is stated after charging.. Independent Examiner'5 fees 1,860 1.776 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals 1,860 1,776 RELATED AND ASSOCIATED PARTY TRANSACTIONS No emoluments were payable to the Trustees in respect of services to the Charity. The amount of expenses Teimbursed to Trnstees, representing travel and accommodation costs incurred by them when on trips to Africa to manage projects on behalf of the Company. amounted to £1.372 (2023.. £10,902). The Company purchased Indemnity Insurance of £250,000 (2023.. £250,000) for the Trustees at a cost of £375 (2023. £332). Due to the Chainnan's increasing workload in controlling all the Charity's activities, it was agreed at a meeting of the Trustees held on 19 January 2012 that a company partiatly owned by the Chairman would be engaged to provide various office and administration services to the Charity on an ongoing basis at the monthly fee of £1.200 including VAT. The Charity notified the Charity Commission in 2012 and received their agreernent to thi5 arrangement. The level of this fee was reviewed by the Trustees on 23 September 2021 and an increase in the monthly fee to £1,920 per month including VAT was agreed, backdated to I September 2021. In March 2024 the company providing these services to the Charity deregistered for VAT but, after due consideration by the Trustees, it was agreed that the ongoing monthly fee would remain at £1,920. The fees charged (including V AT to the date of deregistration) during the year ended 5 April 2024 were £23,040 (2023.. £23,040), and the amount of £Nil was owed at 5 April 2024 (2023.. £1,920). 12
THE POINT FOUNDATION (A Company limited by guarantee) NOTES TO THE FINANCIAL STATELIIENTS For the year ended 5 April 2024 FUNDS At5 April 2023 At5 April 2024 Income Expenditure Transfer Unrestrictedfvnds.. GeneraI funds 23.255 33,815 (32,514) (1,364) 23,192 Designated contingency reserve funds 30,000 30,000 $3,255 33.815 (32.514) (1.364) 53,192 Restrictedfunds.. Rwanda South Africa 52,450 94,988 1.800 (64,378) (3. 164) 83,060 1,364 Total funds 105,705 130,603 (100,056) 136252 The counttie5 presented here combine a number of different projts. The Restricted funds represent amounts received from donors to assist the Charity in funding the work on projects in specific locations. The Restricted funds are held in cash. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Designated funds funds Restricted funds Total runds Fund batances at 5 April 2024 are represented by: Cuent assets Creditors.. amounts falling due within one year 25,052 (1,860) 30,000 83,060 138,112 (1.860) Total net assets at 5 April 2024 23,192 30,000 83,060 136,252 13