CHARITY COMMISSION FOR ENGLAND AND WALES Trustees. Annual Report for the period From 01 Nov2021 To 310c12022 Charlty name: The Educallon and Book Appgal - Ghana (TEABAG) Charity reglstration number: 1126462 Objectives and Actlvitles SORP Summary of thè purposes of th& Gharity as sel out in its governing document P•Tr 1.17 Provlde rellef from pov•rty ol people In Ghana and elsowh8rè; provldo oducatlon and suppor( wlth fundlng to achleve that; develop collaboratlve worklng whh othor b¢xllo8 wlth slmllar obJ•cts; develop partnershlp8. cornmunlcatlon and co ratlon wlth oth•r or anlsatlons Sponsornhlp, Modical projocts, Water Improvemonc Solar electrlclty, Addltlonal toach•r8, Boy8. hostol, D•af School, Feedlng program Summary of the main actSvities In relation to those purposes for the public benefit, in particular, the 8Gtivilies. projects or servlces identified in the accounts. Statement confiming whether the trustees have had regard lo the guidance issued by the Charity Commisslon on public beneflt Parn t.171 1.19 1.18 Th• tru8t•e8 have had regard to tho guldance18sued by the Charlty Comml88lon on publlc b•noflt Addltlonal Infomiatlon (optlonal) You ma choose to include further slalements where relevant about.. SORP ference Tho charlty makes grants to the collog• wo run In Ghana. and to othor publlc benefft projects In Ghana by agreomont of the Truste•s. Policy on grant maklng 1.38 The charlty lunds a tssk forca worklng to clean up the village. Policy on social investment including program related investmenl Paa 1.38 The charlty Truste96 and other3 make frequ&nt vlslts to Ghana at thelr own expense to •nsur• th• charity's objective5 arn belng met. Contribution made by vYJlunlfjet6 Pw¥f
Other Achievements and Performance The charlty has taken the vocatlonal college Into full indepondence, to take account of new Ghana govemmont leglslatlon. Thls ha8 enabled the appolntmont of new toachers and r•vlslon of tha curriculum. thereby Improved tho quallty of tsa¢hlng. Summary of the main achievements of the Charity. identifylng the difference the charity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. P•a 1.20 Tho modlcal project has provldod accommodatlon for th• nurse8 In the village. Addltlonal Inforniallon (optlonal) You ma choos8 to indude further statement$ vthere relevant about: Achievements against objeGtives set P*a 1.41 Perfomiance of fundraising activities against objectives Pw8 1.41 Investment perfomiance against objectives Pwa 1.41 Other
Financial Review Review of the charity's financial position at the 8nd of the eriod Slalemenl explaining the policy for holding reserves ststing why they are held Para 121 Tho charlty has considerablo cash reserves. as a result of a small number of lar oneThoff donatlons. The ¢harity ¢ommlts to hold £20K In reserve to ensure that our 8ducational commltments can be mot whatever the clrcumstances. £20K minimum currentl £90K Para 1.22 Amount of reserves held Reasons for holding zero reseN8S Delails of fund materially in d8ficit Explanation of any uncertaintl8s about the charity continuing as a going concem Par8 1.22 Para 122 Pwa 1.24 P*8 1.23 Onfroff large donatlons ènsure short- tem) stablllty, birt do not guarantee tho long terni. Addltlonal Inforniatlon (optional) You ma choose to include furlher statements wh8r8 relevant about.. Donatlons from the publlc and Ilmlted eompanle8 In th• UK The charity's principal sources of funds (including any fundraising) P•r¥ 1.47 Investment pollty and objectives including any social investment policy adopled Pwa 1.46 A description of the principal sks lacing the charity Pwa 1.46 Other
Structure. Governance and Management Descnption of chaiity's trusls.. Type of goveming document trust deed, ro as charter How is the charity constitthed? (e.g unincorporated association, CIO Truste6 S81ection methods including details of any constitutional provisions e.g. e16Ction lo post or name of any person or body entitled to appoint one or more trustees P*8 1.25 Constitution P•3 1.25 Rogistored UK charity Para 125 Each Trustoe brlngs particular skllls and experience. New Trustees will b• appolnted on rncommondatlon and by agreement of all oxlstlng Trusteos. Addltlonal Informatlon (Opllonal) You ma choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees P•? 1.51 The charity's organisattonal structure and any wder netsvork with which the charity works P•r• 1.51 Relatlonship with any related parties Pwa 1.51 Other Roferenco and Admlnistrative details Chari name Other name the charil uses Re istered chari number Charity's principal address The Educatlon ahd Book TEABAG 1126462 344 High Streoc Cottenham, Cambridgo C824 8rx al-Ghana
NaThs of the charlty trustees who manage the charity Truitee nam• Office Ilf any Dat•8 acted If not for wholè ar Name of person (or body) entliled toa nt truste• Ifan Roger Gillman Christopher Moller Anne Moller Tom Yendell Joe Sparks Jayne Pratt Patrick Sullivan Sabrina Stubbs Chairman Treasurer Secretary 10 12 13 14 15 16 17 18 19 20 Cor orate trus16es- names of the directors at the date the re Dlr•¢tor nam• wasa roved nono Nam8 of trustees holding title to property b61ongiTrJ to the charity Tru•t•e nam• Dai•$ •ci•d tt not lor whole nono
Funds held as custodian trustees on behalf of others Description of the assets (none) held in this capacity Name and objects of the charity on whos8 behalf the assels are held and how this falls ¥Mthin the Custodian charity's objects Details of arrangements for S8fe custody and segregation of such assets from the charity's own assets Addltlonal Informatlon {optlonal) Nam•s and addresses of advlsers {Optlonal Infrntlon) Typ• of Name Addres8 advlsor Name ol chlof executlv• or namos of sènlor staff members (Optlonal Informatlon) Examptions from dlsclosure rsonn81 detsils Reason for non-disclosure of ke Other o tional Infonnation
Declarations The trustees declare that thèy have approved tho trusteès, report above. SIgn on behalf of the charity's trust•ès Slgnature(8) Full namg{s) Posltlon18g Secretary, Chair, etc) SE LR£ ThRY Dato 08 ?OL3
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Charity number: 1126462
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 18 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2022
Trustees
Roger Gillman, Chairman Thomas Yendell, Vice Chairman Jayne Pratt Christopher Moller, Honorary Treasurer Anne Moller, Secretary 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
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
The Trustees present their annual report together with the financial statements of the The Education and Book Appeal, Ghana (TEABAG) for the 1 November 2021 to 31 October 2022.
Objectives and activities
a. Policies and objectives
The charity's objectives are to:
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Provide relief from poverty for people in Ghana and elsewhere;
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Provide education and support, with funding to achieve that;
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Develop collaborative working with other bodies with similar objects; and
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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:
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Fundraising in the UK; and
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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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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Achievements and performance
a. Review of activities
TEABAG continues to raise funds from donations in the UK and mainland Europe for the support of the village in Ghana and its environs.
The charity has contributed additional accommodation for the nurses at the medical centre in the village and paid for five people to regain their sight through treatment for cataracts.
TEABAG continues to actively support the schools in the village, providing resources for teaching, maintenance of the fabric of the buildings, and increasing enrolment through the provision of school uniforms, and operating a Village Task Force that encourages attendance.
In 2020, the Ghana government passed the Pre-Tertiary Education Act, which defined the basis on which vocational training would be conducted at state-owned colleges. This included state control of the curriculum, the appointment of staff, and determination of the size of the student enrolment. The act had an appendix listing the state-owned colleges, and this list unfortunately erroneously included TEABAG’s Mankoadze Vocational College. The Act however included a Clause 80 permitting independent vocational colleges subject to certain safeguards. Intensive lobbying and personal visits to government offices continued throughout the year, finally resulting in agreement in January 2023 that the college is fully independent under Clause 80. It is now operating successfully on this basis. The state-provided teachers have left, and new staff have been appointed, including a full-time financial administrator.
During the the year ended 31 October 2022, the Ghana Cedi - Pound exchange rate went from 8.06 to 15.93 (but by mid-December 2022 it briefly dipped back to 10.12!). This extreme volatility has resulted in more pressure on TEABAG to provide funding as recipients are exposed to higher costs. Payments from the UK are made monthly, only providing as much as is required to see the month through for the recipients of the funding. Whilst TEABAG is not itself directly affected by exchange rates, the trustees continue to monitor the situation and the impact on the recipients of its grants and funding in Ghana.
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.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
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.
c. Policies adopted for the induction and training of Trustees
Trustees are appointed based on the skills they can provide. Three of the Trustees are very experienced educationalists, bringing a total of 50 years’ experience of managing schools and colleges. One brings fundraising expertise; one brings engineering expertise and bookkeeping. The Chairman frequently travels to Ghana on business, manages shipping of books and equipment and periodic onsite supervision. All Trustees have been to Ghana several times at their own expense.
The Treasurer keeps up-to-date with Charity Commission and HMRC requirements, and takes advantage of any online training they provide.
d. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. However, possible future actions by the Ghana government remain an unquantifiable concern.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the . 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Roger Gillman (Chair of Trustees) Date: 31 July 2023
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
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 2022.
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, other than those fully detailed below, have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
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: 1 August 2023 FCA
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities 3 Total expenditure Net (expenditure)/income Transfers between funds 6 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 12,258 12,258 20,964 20,964 (8,706) 4,359 (4,347) 37,949 33,602 |
Restricted funds 2022 £ 39,420 39,420 21,314 21,314 18,106 (4,359) 13,747 41,667 55,414 |
Total funds 2022 £ 51,678 51,678 42,278 42,278 9,400 - 9,400 79,616 89,016 |
Total funds 2021 £ 52,348 52,348 56,102 56,102 (3,754) - (3,754) 83,370 79,616 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
BALANCE SHEET AS AT 31 OCTOBER 2022
| 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 |
89,016 | 2022 £ - 89,016 89,016 55,414 33,602 89,016 |
79,616 | 2021 £ |
|---|---|---|---|---|
| - 79,616 |
||||
| 79,616 | ||||
| 41,667 37,949 |
||||
| 79,616 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Roger Gillman (Chair of Trustees) Date: 31 July 2023
The notes on pages 10 to 18 form part of these financial statements.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
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 Income
All income is recognised upon receipt, provided that any conditions for receipt have been met.
1.3 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.
All expenditure is inclusive of irrecoverable VAT.
1.4 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.
1.5 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.
1.6 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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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
2. Income from donations and legacies
| Donations General donations Solar electricity system Sponsorship Additional teachers Governance and administrative contributions Hostel Deaf School Feeding Program Truck Subtotal Total 2021 |
Unrestricted funds 2022 £ 12,258 - - - - - - - - - 12,258 22,558 |
Restricted funds 2022 £ - - 2,014 - 3,375 25,000 3,500 - 5,531 5,531 39,420 29,790 |
Total funds 2022 £ 12,258 - 2,014 - 3,375 25,000 3,500 - 5,531 5,531 51,678 52,348 |
Total funds 2021 £ 22,558 1,270 1,000 10,000 1,500 10,000 6,000 20 - |
|---|---|---|---|---|
| - | ||||
| 52,348 | ||||
3. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2022 £ Direct costs 20,964 Total 2021 12,505 |
Restricted funds 2022 £ 21,314 43,597 |
Total 2022 £ 42,278 56,102 |
Total 2021 £ 56,102 |
|---|---|---|---|
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
4. Analysis of expenditure by type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Governance | Total | Total | |
| directly | costs | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Charitable activities | 40,706 | 1,572 | 42,278 | 56,102 |
Analysis of direct costs
| General maintenance and administrative College Schools Sponsorship (Restricted) Medical projects (Restricted) Hostel (Restricted) Solar electricity system (Restricted) Cost of practicals for final exam Cost of additional Teachers (Restricted) Scholarship scheme Deaf School (Restricted) Task Force COVID feeding Analysis of support costs Independent examiner's fee (restricted) |
Total funds 2022 £ 2,184 5,214 4,980 927 1,686 4,239 2,847 1,204 8,077 1,092 1,966 1,336 4,954 40,706 Total funds 2022 £ 1,572 |
Total funds 2021 £ - 5,698 2,623 2,018 - 25,721 - 3,331 5,282 853 4,590 - 4,486 |
|---|---|---|
| 54,602 | ||
| Total funds 2021 £ 1,500 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
5. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 89,016 | 79,616 |
Financial assets measured at fair value through income and expenditure comprise cash at bank.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Statement of funds
Statement of funds - current year
| Unrestricted funds General fund Restricted funds Sponsorship Medical projects Water improvement Truck Governance and administrative Solar electricity system Additional teachers Boys Hostel Deaf School Total of funds |
Balance at 1 November 2021 £ 37,949 3,181 3,215 - - - 1,675 32,186 - 1,410 41,667 79,616 |
Income £ 12,258 2,014 - - 5,531 3,375 - - 25,000 3,500 39,420 51,678 |
Expenditure £ (20,964) (927) (1,687) - - (1,572) (2,847) (8,076) (4,239) (1,966) (21,314) (42,278) |
Transfers in/out £ 4,359 - - 20,761 (5,531) - 1,172 - (20,761) - (4,359) - |
Balance at 31 October 2022 £ 33,602 |
|---|---|---|---|---|---|
| 4,268 1,528 20,761 - 1,803 - 24,110 - 2,944 |
|||||
| 55,414 | |||||
| 89,016 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Statement of funds (continued)
Purpose of restricted funds:
Sponsorship - provision of school and college sponsorship.
Medical projects - provision of medical care for individuals in need, and infrastructure to support medical services in the village.
Water improvement - to be used to improve the water supply and quality at the college.
Truck - previous restricted fund used to allow the college to purchase a pick up truck. Gift aid was received in the year on the donation previously made to this restricted fund. The donor agreed that such gift aid monies could be transferred to the general fund for future use by the charity for it's general purpose hence the transfer out of this fund in the year.
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.
Solar electricity 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. Note the costs of this project in year end 31 October 2022 exceeded the restricted fund and as such a transfer into this fund from the general fund of £1,172 was made to cover the excess.
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). If the government withdraws teacher support, this will be used to fund additional teachers.
Boy's Hostel - represents funding received for the purpose of building a student hostel at the vocational college in Mankoadze. The balance of restricted funds received in the year of £25,000 not yet spent in the year of £20,761 was transferred to the Water improvement fund at the request of the donor.
Deaf School - This fund was set up to provide practical equipment for an existing school for the deaf.
Feeding Program - When COVID hit, the rigorous measures Ghana took to ensure that it didn’t spread caused much hardship. Students had lost the financial support necessary to feed themselves. TEABAG took the view that you cannot learn if you are hungry, and started a programme of providing one hot meal every day. This is expensive, but has proved hugely valuable, and they will continue this now that the COVID scare seems to be abating.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General fund Restricted funds Sponsorship Medical projects Hostel Governance and administrative Solar electricity system Additional teachers Deaf School Feeding Program Total of funds |
Balance at 1 November 2020 £ 34,802 3,929 3,215 13,281 - 675 27,468 - - 48,568 83,370 |
Income £ 22,558 1,270 - 10,000 1,500 1,000 10,000 6,000 20 29,790 52,348 |
Expenditure £ (12,505) (2,018) - (25,721) (1,500) - (5,282) (4,590) (4,486) (43,597) (56,102) |
Transfers in/out £ (6,906) - - 2,440 - - - - 4,466 6,906 - |
Balance at 31 October 2021 £ 37,949 |
|---|---|---|---|---|---|
| 3,181 3,215 - - 1,675 32,186 1,410 - |
|||||
| 41,667 | |||||
| 79,616 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
7. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 November 2021 £ 37,949 41,667 79,616 Balance at 1 November 2020 £ 34,802 48,568 83,370 |
Income £ 12,258 39,420 51,678 Income £ 22,558 29,790 52,348 |
Expenditure £ (20,964) (21,314) (42,278) Expenditure £ (12,505) (43,597) (56,102) |
Transfers in/out £ 4,359 (4,359) - Transfers in/out £ (6,906) 6,906 - |
Balance at 31 October 2022 £ 33,602 55,414 |
|---|---|---|---|---|---|
| 89,016 | |||||
| Balance at 31 October 2021 £ 37,949 41,667 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
|||||
| 79,616 |
8. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Current assets 33,602 Total 33,602 |
Restricted funds 2022 £ 55,414 55,414 |
Total funds 2022 £ 89,016 |
|---|---|---|
| 89,016 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
8. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Total |
Unrestricted funds 2021 £ 37,949 37,949 |
Restricted funds 2021 £ 41,667 41,667 |
Total funds 2021 £ 79,616 |
|---|---|---|---|
| 79,616 |
9. Other financial commiitments
There are no other financial commitments to disclose in the year ended 31 October 2022.
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Charity number: 1126462
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 18 |
DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2022
Trustees
Roger Gillman, Chairman Thomas Yendell, Vice Chairman Jayne Pratt Christopher Moller, Honorary Treasurer Anne Moller, Secretary 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
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
The Trustees present their annual report together with the financial statements of the The Education and Book Appeal, Ghana (TEABAG) for the 1 November 2021 to 31 October 2022.
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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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Achievements and performance
a. Review of activities
TEABAG continues to raise funds from donations in the UK and mainland Europe for the support of the village in Ghana and its environs.
The charity has contributed additional accommodation for the nurses at the medical centre in the village and paid for five people to regain their sight through treatment for cataracts.
TEABAG continues to actively support the schools in the village, providing resources for teaching, maintenance of the fabric of the buildings, and increasing enrolment through the provision of school uniforms, and operating a Village Task Force that encourages attendance.
In 2020, the Ghana government passed the Pre-Tertiary Education Act, which defined the basis on which vocational training would be conducted at state-owned colleges. This included state control of the curriculum, the appointment of staff, and determination of the size of the student enrolment. The act had an appendix listing the state-owned colleges, and this list unfortunately erroneously included TEABAG’s Mankoadze Vocational College. The Act however included a Clause 80 permitting independent vocational colleges subject to certain safeguards. Intensive lobbying and personal visits to government offices continued throughout the year, finally resulting in agreement in January 2023 that the college is fully independent under Clause 80. It is now operating successfully on this basis. The state-provided teachers have left, and new staff have been appointed, including a full-time financial administrator.
During the the year ended 31 October 2022, the Ghana Cedi - Pound exchange rate went from 8.06 to 15.93 (but by mid-December 2022 it briefly dipped back to 10.12!). This extreme volatility has resulted in more pressure on TEABAG to provide funding as recipients are exposed to higher costs. Payments from the UK are made monthly, only providing as much as is required to see the month through for the recipients of the funding. Whilst TEABAG is not itself directly affected by exchange rates, the trustees continue to monitor the situation and the impact on the recipients of its grants and funding in Ghana.
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.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
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.
c. Policies adopted for the induction and training of Trustees
Trustees are appointed based on the skills they can provide. Three of the Trustees are very experienced educationalists, bringing a total of 50 years’ experience of managing schools and colleges. One brings fundraising expertise; one brings engineering expertise and bookkeeping. The Chairman frequently travels to Ghana on business, manages shipping of books and equipment and periodic onsite supervision. All Trustees have been to Ghana several times at their own expense.
The Treasurer keeps up-to-date with Charity Commission and HMRC requirements, and takes advantage of any online training they provide.
d. Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. However, possible future actions by the Ghana government remain an unquantifiable concern.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, 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 charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the . 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Roger Gillman (Chair of Trustees) Date: 31 July 2023
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
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 2022.
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, other than those fully detailed below, have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
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: 1 August 2023 FCA
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022
| Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities 3 Total expenditure Net (expenditure)/income Transfers between funds 6 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 12,258 12,258 20,964 20,964 (8,706) 4,359 (4,347) 37,949 33,602 |
Restricted funds 2022 £ 39,420 39,420 21,314 21,314 18,106 (4,359) 13,747 41,667 55,414 |
Total funds 2022 £ 51,678 51,678 42,278 42,278 9,400 - 9,400 79,616 89,016 |
Total funds 2021 £ 52,348 52,348 56,102 56,102 (3,754) - (3,754) 83,370 79,616 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
BALANCE SHEET AS AT 31 OCTOBER 2022
| 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 |
89,016 | 2022 £ - 89,016 89,016 55,414 33,602 89,016 |
79,616 | 2021 £ |
|---|---|---|---|---|
| - 79,616 |
||||
| 79,616 | ||||
| 41,667 37,949 |
||||
| 79,616 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Roger Gillman (Chair of Trustees) Date: 31 July 2023
The notes on pages 10 to 18 form part of these financial statements.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
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 Income
All income is recognised upon receipt, provided that any conditions for receipt have been met.
1.3 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.
All expenditure is inclusive of irrecoverable VAT.
1.4 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.
1.5 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.
1.6 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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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
2. Income from donations and legacies
| Donations General donations Solar electricity system Sponsorship Additional teachers Governance and administrative contributions Hostel Deaf School Feeding Program Truck Subtotal Total 2021 |
Unrestricted funds 2022 £ 12,258 - - - - - - - - - 12,258 22,558 |
Restricted funds 2022 £ - - 2,014 - 3,375 25,000 3,500 - 5,531 5,531 39,420 29,790 |
Total funds 2022 £ 12,258 - 2,014 - 3,375 25,000 3,500 - 5,531 5,531 51,678 52,348 |
Total funds 2021 £ 22,558 1,270 1,000 10,000 1,500 10,000 6,000 20 - |
|---|---|---|---|---|
| - | ||||
| 52,348 | ||||
3. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2022 £ Direct costs 20,964 Total 2021 12,505 |
Restricted funds 2022 £ 21,314 43,597 |
Total 2022 £ 42,278 56,102 |
Total 2021 £ 56,102 |
|---|---|---|---|
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
4. Analysis of expenditure by type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Governance | Total | Total | |
| directly | costs | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Charitable activities | 40,706 | 1,572 | 42,278 | 56,102 |
Analysis of direct costs
| General maintenance and administrative College Schools Sponsorship (Restricted) Medical projects (Restricted) Hostel (Restricted) Solar electricity system (Restricted) Cost of practicals for final exam Cost of additional Teachers (Restricted) Scholarship scheme Deaf School (Restricted) Task Force COVID feeding Analysis of support costs Independent examiner's fee (restricted) |
Total funds 2022 £ 2,184 5,214 4,980 927 1,686 4,239 2,847 1,204 8,077 1,092 1,966 1,336 4,954 40,706 Total funds 2022 £ 1,572 |
Total funds 2021 £ - 5,698 2,623 2,018 - 25,721 - 3,331 5,282 853 4,590 - 4,486 |
|---|---|---|
| 54,602 | ||
| Total funds 2021 £ 1,500 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
5. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 89,016 | 79,616 |
Financial assets measured at fair value through income and expenditure comprise cash at bank.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Statement of funds
Statement of funds - current year
| Unrestricted funds General fund Restricted funds Sponsorship Medical projects Water improvement Truck Governance and administrative Solar electricity system Additional teachers Boys Hostel Deaf School Total of funds |
Balance at 1 November 2021 £ 37,949 3,181 3,215 - - - 1,675 32,186 - 1,410 41,667 79,616 |
Income £ 12,258 2,014 - - 5,531 3,375 - - 25,000 3,500 39,420 51,678 |
Expenditure £ (20,964) (927) (1,687) - - (1,572) (2,847) (8,076) (4,239) (1,966) (21,314) (42,278) |
Transfers in/out £ 4,359 - - 20,761 (5,531) - 1,172 - (20,761) - (4,359) - |
Balance at 31 October 2022 £ 33,602 |
|---|---|---|---|---|---|
| 4,268 1,528 20,761 - 1,803 - 24,110 - 2,944 |
|||||
| 55,414 | |||||
| 89,016 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Statement of funds (continued)
Purpose of restricted funds:
Sponsorship - provision of school and college sponsorship.
Medical projects - provision of medical care for individuals in need, and infrastructure to support medical services in the village.
Water improvement - to be used to improve the water supply and quality at the college.
Truck - previous restricted fund used to allow the college to purchase a pick up truck. Gift aid was received in the year on the donation previously made to this restricted fund. The donor agreed that such gift aid monies could be transferred to the general fund for future use by the charity for it's general purpose hence the transfer out of this fund in the year.
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.
Solar electricity 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. Note the costs of this project in year end 31 October 2022 exceeded the restricted fund and as such a transfer into this fund from the general fund of £1,172 was made to cover the excess.
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). If the government withdraws teacher support, this will be used to fund additional teachers.
Boy's Hostel - represents funding received for the purpose of building a student hostel at the vocational college in Mankoadze. The balance of restricted funds received in the year of £25,000 not yet spent in the year of £20,761 was transferred to the Water improvement fund at the request of the donor.
Deaf School - This fund was set up to provide practical equipment for an existing school for the deaf.
Feeding Program - When COVID hit, the rigorous measures Ghana took to ensure that it didn’t spread caused much hardship. Students had lost the financial support necessary to feed themselves. TEABAG took the view that you cannot learn if you are hungry, and started a programme of providing one hot meal every day. This is expensive, but has proved hugely valuable, and they will continue this now that the COVID scare seems to be abating.
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
6. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General fund Restricted funds Sponsorship Medical projects Hostel Governance and administrative Solar electricity system Additional teachers Deaf School Feeding Program Total of funds |
Balance at 1 November 2020 £ 34,802 3,929 3,215 13,281 - 675 27,468 - - 48,568 83,370 |
Income £ 22,558 1,270 - 10,000 1,500 1,000 10,000 6,000 20 29,790 52,348 |
Expenditure £ (12,505) (2,018) - (25,721) (1,500) - (5,282) (4,590) (4,486) (43,597) (56,102) |
Transfers in/out £ (6,906) - - 2,440 - - - - 4,466 6,906 - |
Balance at 31 October 2021 £ 37,949 |
|---|---|---|---|---|---|
| 3,181 3,215 - - 1,675 32,186 1,410 - |
|||||
| 41,667 | |||||
| 79,616 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
7. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 November 2021 £ 37,949 41,667 79,616 Balance at 1 November 2020 £ 34,802 48,568 83,370 |
Income £ 12,258 39,420 51,678 Income £ 22,558 29,790 52,348 |
Expenditure £ (20,964) (21,314) (42,278) Expenditure £ (12,505) (43,597) (56,102) |
Transfers in/out £ 4,359 (4,359) - Transfers in/out £ (6,906) 6,906 - |
Balance at 31 October 2022 £ 33,602 55,414 |
|---|---|---|---|---|---|
| 89,016 | |||||
| Balance at 31 October 2021 £ 37,949 41,667 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
|||||
| 79,616 |
8. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Current assets 33,602 Total 33,602 |
Restricted funds 2022 £ 55,414 55,414 |
Total funds 2022 £ 89,016 |
|---|---|---|
| 89,016 |
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THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
8. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Total |
Unrestricted funds 2021 £ 37,949 37,949 |
Restricted funds 2021 £ 41,667 41,667 |
Total funds 2021 £ 79,616 |
|---|---|---|---|
| 79,616 |
9. Other financial commiitments
There are no other financial commitments to disclose in the year ended 31 October 2022.
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