DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
**Charity number: 1126462**
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2020**
DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Independent examiner's report**|4 - 5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 15|
DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Trustees**
Roger Gillman, Chairman Thomas Yendell, Vice Chairman Jayne Pratt Christopher Moller, Honorary Treasurer Anne Moller, Secretary Vivienne Matthews (resigned 8 July 2020) Joe Sparks Sabrina Stubbs Patrick Sullivan
## **Charity registered number** 1126462
## **Principal office**
344 High Street Cottenham Cambridge CB24 8TX
## **Secretary**
Anne Sparrowhawk
## **Accountants**
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 1
DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2020**
The Trustees present their annual report together with the financial statements of the The Education and Book Appeal Ghana (TEABAG) for the 1 November 2019 to 31 October 2020.
## **Objectives and activities**
## **a. Policies and objectives**
The charity's objectives are to:
- Provide relief from poverty for people in Ghana and elsewhere;
- Provide education and support, with funding to achieve that;
- Develop collaborative working with other bodies with similar objects; and
- Develop partnerships, communication and co-operation with other organisations.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Activities undertaken to achieve objectives**
The charity's activities include:
- Fundraising in the UK; and
- Frequent visits to Ghana by the trustees and others who can further the objectives (all at their own expense).
## **c. Main activities undertaken to further the charity's purposes for the public benefit**
The charity manages the running of the Mankoadze Vocational College ('the college').
It also funds the primary schools in the villages of Mankoadze, Abrekum and Onyadze.
The charity has continued to work within its objectives to assist those in need and to relieve poverty in accordance with guidance issued by the Charity Commission on public benefit.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Achievements and performance**
## **a. Review of activities**
Five of the Trustees visited the village in February 2020 to review operations. Occasional visits have continued during COVID, but have naturally been much more difficult to organise. However frequent electronic communication with the College Principal has continued throughout the financial year. Three professional teachers were employed, funded by the £30K grant from Liechtenstein. The £17K contribution to the General Fund from Take Two has contributed to our ability to deliver food to the village and to send GHC100 (£14) to each registered student who had been sent home as a result of COVID. It has also enabled a programme of feeding of the students in the college and a scholarship programme.
The level of staffing and student attendance has fluctuated considerably during the year, in response to successive Ghana government directives. Nevertheless, construction of the hostel to provide accommodation for the male students (using the £35K grant provided for that purpose) has continued, and at the end of the financial year, was at an advanced stage of construction. (Although this is now over-budget, it will be completed in time for the new Academic Year 2021-22.)
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **b. Reserves policy**
The trustees aim to maintain a target level of funds held in reserves of £20,000 so as to ensure the charity's educational objectives can always be fulfilled. The level of unrestricted funds at the year end were in excess of this target.
## **Structure, governance and management**
## **a. Constitution**
The Education and Book Appeal, Ghana (TEABAG) is a registered charity, number 1126462, and is constituted under a trust deed dated 22 February 2008.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected at the annual meeting by membership. Re-election occurs every year.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
**Christopher Moller** (Treasurer) Date: 12 August 2021
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2020**
## **Independent examiner's report to the Trustees of The Education and Book Appeal, Ghana (TEABAG) ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 October 2020.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020**
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Jennifer L Tolmie
Dated: 12 August 2021 FCA
**Griffin Stone Moscrop & Co** Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020**
|**Note**
**Income from:**
Donations and legacies
2
**Total income**
**Expenditure on:**
Charitable activities
3
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
6
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**27,170**
**27,170**
**16,912**
**16,912**
**10,258**
**(699)**
**9,559**
**25,243**
**34,802**|**Restricted**
**funds**
**2020**
**£**
**35,739**
**35,739**
**41,910**
**41,910**
**(6,171)**
**699**
**(5,472)**
**54,040**
**48,568**|**Total**
**funds**
**2020**
**£**
**62,909**
**62,909**
**58,822**
**58,822**
**4,087**
**-**
**4,087**
**79,283**
**83,370**|Total
funds
2019
£
87,782|
|---|---|---|---|---|
|||||87,782|
|||||58,966|
|||||58,966|
||||||
|||||28,816|
|||||-|
||||||
|||||28,816|
|||||50,467|
|||||79,283|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **BALANCE SHEET AS AT 31 OCTOBER 2020**
|**Note**
**Fixed assets**
**Current assets**
Cash at bank and in hand
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
6
Unrestricted funds
6
**Total funds**|**83,370**|**2020**
**£**
**-**
**83,370**
**83,370**
**48,568**
**34,802**
**83,370**|79,283|2019
£|
|---|---|---|---|---|
|||||-
79,283|
||||||
|||||79,283|
|||||54,040
25,243|
||||||
|||||79,283|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Christopher Moller** (Trustee) Date: 12 August 2021
The notes on pages 8 to 15 form part of these financial statements.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared on a receipts and payments basis, under the historical cost convention.
This is consistent with Charity Commission guidelines whereby unincorporated charities, including churches and CIOs, with annual income of less than £250,000 can prepare financial statements on a receipts and payments basis.
The Education and Book Appeal, Ghana (TEABAG) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 COVID-19**
The spread of COVID-19 continues to severely impact many local communities and economies around the globe. In many countries, charities and businesses are being forced to cease or limit operations for long or indefinite periods of time. Measures taken to contain the spread of the virus, including quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to entities worldwide.
The charity has determined that these events are non-adjusting subsequent events. Accordingly, the financial position and Statement of Financial Activities, as of, and for, the year ended 31 October 2020 have not been adjusted to reflect their impact. The charity's assets do not extend beyond cash at bank (and in hand), and therefore the charity is subject to very little market related risk which might arise from assets such as investments.
The charity has continued to function well throughout the COVID-19 pandemic. For example, the Trustees have continued to provide financial support to the charity's registered students in Ghana. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and activities of the charity for future periods.
In addition to its educational activities, the charity has instituted feeding programmes for both the students and staff and the wider village. The village feeding is an exceptional response to the extreme conditions caused by the COVID crisis, but it is intended that the programme of feeding students will continue, as it has been found to have a direct impact on their ability to learn.
During the year, the Ghana Cedi has depreciated considerably, but unfortunately prices have increased by even more. This has caused great hardship. The net effect is that the cost of almost everything has increased in Sterling terms by around 25%. This is thought unlikely to revert once COVID is under control.
## **1.3 Income**
All income is recognised upon receipt, provided that any conditions for receipt have been met.
## **1.4 Expenditure**
Expenditure is recognised upon settlement i.e. upon the transfer of economic benefits to a third party.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **1. Accounting policies (continued)**
## **1.4 Expenditure (continued)**
All expenditure is inclusive of irrecoverable VAT.
## **1.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.6 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **1.7 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**2020**
**£**
**Donations**
General donations
27,170
Sponsorship
-
Hostel
-
Solar electricity system
-
Additional Teachers
-
Governance and administrative contributions
-
Unique Arts
-
**Legacies**
Legacies
-
27,170
Total 2019
9,587|**Restricted**
**funds**
**2020**
**£**
-
2,799
-
1,500
30,000
1,440
-
-
35,739
78,195|**Total**
**funds**
**2020**
**£**
**27,170**
**2,799**
**-**
**1,500**
**30,000**
**1,440**
**-**
**-**
**62,909**
87,782|Total
funds
2019
£
7,087
2,275
35,000
35,000
-
1,420
4,500
2,500|
|---|---|---|---|
||||87,782|
|||||
## **3. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2020**
**£**
Direct costs
16,912
Total 2019
9,127|**Restricted**
**funds**
**2020**
**£**
41,910
49,839|**Total**
**funds**
**2020**
**£**
**58,822**
58,966|Total
funds
2019
£
58,966|
|---|---|---|---|
|||||
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **4. Analysis of expenditure by type**
||**Activities**|||
|---|---|---|---|
||**undertaken**|**Total**|Total|
||**directly**|**funds**|funds|
||**2020**|**2020**|2019|
||**£**|**£**|£|
|Charitable activities|58,822|**58,822**|58,966|
## **Analysis of direct costs**
|General maintenance and administrative
College
Schools
St. Nicholas
Sponsorship
Hostel
Truck
Unique Art
Solar electricity system
Cost of practicals for final exam
Cost of additional Teachers
Scholarship scheme
COVID feeding
Governance costs - independent examiner's fee
**5.**
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**Total**
**funds**
**2020**
**£**
**1,275**
**5,777**
**985**
**-**
**1,360**
**21,719**
**-**
**500**
**14,359**
**2,027**
**2,532**
**1,916**
**4,932**
**1,440**
**58,822**
**2020**
**£**
**83,370**|Total
funds
2019
£
1,993
6,043
1,131
1,442
1,493
-
20,018
4,000
21,466
-
-
-
-
1,380|
|---|---|---|
|||58,966|
|||2019
£
79,283|
Financial assets measured at fair value through income and expenditure comprise cash at bank.
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **6. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General fund
**Restricted funds**
Sponsorship
Medical projects
Hostel
Governance and administrative
Unique Arts
Solar electricity system
Additional teachers
**Total of funds**|**Balance at**
**1 November**
**2019**
**£**
**25,243**
**1,791**
**3,215**
**35,000**
**-**
**500**
**13,534**
**-**
**54,040**
**79,283**|**Income**
**£**
**27,170**
**2,799**
**-**
**-**
**1,440**
**-**
**1,500**
**30,000**
**35,739**
**62,909**|**Expenditure**
**£**
**(16,912)**
**(1,360)**
**-**
**(21,719)**
**(1,440)**
**(500)**
**(14,359)**
**(2,532)**
**(41,910)**
**(58,822)**|**Transfers**
**in/out**
**£**
**(699)**
**699**
**-**
**-**
**-**
**-**
**-**
**-**
**699**
**-**|**Balance at**
**31 October**
**2020**
**£**
**34,802**|
|---|---|---|---|---|---|
||||||**3,929**
**3,215**
**13,281**
**-**
**-**
**675**
**27,468**|
||||||**48,568**|
||||||**83,370**|
Purpose of restricted funds:
Sponsorship - provision of school and college sponsorship.
Medical projects - provision of medical care for individuals in need.
Hostel - represents funding received for the purpose of building a student hostel at the vocational college in Mankoadze. The girls hostel has been completed and work is continuing on the boys hostel..
Governance and administrative - the independent examination fee was covered by a donation received from one of the trustees to ensure that 100% of public donations are spent on direct costs incurred in Ghana.
Unique Art - The Unique Art Awards is an international project to reward disabled artists (https://uniqueartawards.uk/). The trustees have implemented a project in Ghana to encourage disabled Ghanaians to enter a national competition to select finalists for the international awards.
Solar electricty system - to allow a solar farm system to be built which can supply sufficient power to allow the college to be virtually free of the national grid.
Additional Teachers - This fund was set up following a one off donation to fund three full-time fully qualified teachers (teaching English, Maths and Business Studies).
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **6. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General fund
**Restricted funds**
St Nicholas
Sponsorship
Medical projects
Hostel
Truck
Governance and administrative
Unique Arts
Solar electricity system
**Total of funds**|Balance at
1 November
2018
£
24,783
1,442
1,009
3,215
-
20,018
-
-
-
25,684
50,467|Income
£
9,587
-
2,275
-
35,000
-
1,420
4,500
35,000
78,195
87,782|Expenditure
£
(9,127)
(1,442)
(1,493)
-
-
(20,018)
(1,420)
(4,000)
(21,466)
(49,839)
(58,966)|Balance at
31 October
2019
£
25,243|
|---|---|---|---|---|
|||||-
1,791
3,215
35,000
-
-
500
13,534|
|||||54,040|
|||||79,283|
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **7. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds|**Balance at**
**1 November**
**2019**
**£**
**25,243**
**54,040**
**79,283**|**Income**
**£**
**27,170**
**35,739**
**62,909**
Balance at
1 November
2018
£
24,783
25,684
50,467|**Expenditure**
**£**
**(16,912)**
**(41,910)**
**(58,822)**
Income
£
9,587
78,195
87,782|**Transfers**
**in/out**
**£**
**(699)**
**699**
**-**
Expenditure
£
(9,127)
(49,839)
(58,966)|**Balance at**
**31 October**
**2020**
**£**
**34,802**
**48,568**|
|---|---|---|---|---|---|
||||||**83,370**|
||||||Balance at
31 October
2019
£
25,243
54,040|
|**Summary of funds - prior year**||||||
|General funds
Restricted funds||||||
||||||79,283|
## **8. Analysis of net assets between funds Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2020**
**£**
Current assets
34,802
**Total**
34,802
**Analysis of net assets between funds - prior period**
Unrestricted
funds
2019
£
Current assets
25,243
**Total**
25,243|**Restricted**
**funds**
**2020**
**£**
48,568
48,568
Restricted
funds
2019
£
54,040
54,040|**Total**
**funds**
**2020**
**£**
**83,370**|
|---|---|---|
|||**83,370**|
|||Total
funds
2019
£
79,283|
|||79,283|
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DocuSign Envelope ID: 3B858FAB-8755-4271-B171-BA8B2E8DAA57
## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **9. Other financial commiitments**
There are no other financial commitments to disclose in the year ended 31 October 2020.
Page 15