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.17￿1
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

DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

**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 

Page 1 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 2 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 3 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 4 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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 

Page 5 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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: 

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 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. 

Page 6 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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 

Page 7 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>2<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>3<br>**Total expenditure**<br>**Net (expenditure)/income**<br>Transfers between funds<br>6<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>**12,258**<br>**12,258**<br>**20,964**<br>**20,964**<br>**(8,706)**<br>**4,359**<br>**(4,347)**<br>**37,949**<br>**33,602**|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>**39,420**<br>**39,420**<br>**21,314**<br>**21,314**<br>**18,106**<br>**(4,359)**<br>**13,747**<br>**41,667**<br>**55,414**|**Total**<br>**funds**<br>**2022**<br>**£**<br>**51,678**<br>**51,678**<br>**42,278**<br>**42,278**<br>**9,400**<br>**-**<br>**9,400**<br>**79,616**<br>**89,016**|Total<br>funds<br>2021<br>£<br>52,348<br>52,348<br>56,102<br>56,102<br>(3,754)<br>-<br>(3,754)<br>83,370<br>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. 

Page 8 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)** 

## **BALANCE SHEET AS AT 31 OCTOBER 2022** 

|**Note**<br>**Fixed assets**<br>**Current assets**<br>Cash at bank and in hand<br>**Net current assets**<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>6<br>Unrestricted funds<br>6<br>**Total funds**|**89,016**|**2022**<br>**£**<br>**-**<br>**89,016**<br>**89,016**<br>**55,414**<br>**33,602**<br>**89,016**|79,616|2021<br>£|
|---|---|---|---|---|
|||||-<br>79,616|
||||||
|||||79,616|
|||||41,667<br>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. 

Page 9 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 10 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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**<br>General donations<br>Solar electricity system<br>Sponsorship<br>Additional teachers<br>Governance and administrative contributions<br>Hostel<br>Deaf School<br>Feeding Program<br>Truck<br>**Subtotal**<br>Total 2021|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>12,258<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>12,258<br>22,558|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>-<br>-<br>2,014<br>-<br>3,375<br>25,000<br>3,500<br>-<br>5,531<br>5,531<br>39,420<br>29,790|**Total**<br>**funds**<br>**2022**<br>**£**<br>**12,258**<br>**-**<br>**2,014**<br>**-**<br>**3,375**<br>**25,000**<br>**3,500**<br>**-**<br>**5,531**<br>**5,531**<br>**51,678**<br>52,348|Total<br>funds<br>2021<br>£<br>22,558<br>1,270<br>1,000<br>10,000<br>1,500<br>10,000<br>6,000<br>20<br>-|
|---|---|---|---|---|
|||||-|
||||||
|||||52,348|
||||||



## **3. Analysis of expenditure on charitable activities** 

## **Summary by fund type** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>Direct costs<br>20,964<br>Total 2021<br>12,505|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>21,314<br>43,597|**Total**<br>**2022**<br>**£**<br>**42,278**<br>56,102|Total<br>2021<br>£<br>56,102|
|---|---|---|---|
|||||



Page 11 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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<br>College<br>Schools<br>Sponsorship (Restricted)<br>Medical projects (Restricted)<br>Hostel (Restricted)<br>Solar electricity system (Restricted)<br>Cost of practicals for final exam<br>Cost of additional Teachers (Restricted)<br>Scholarship scheme<br>Deaf School (Restricted)<br>Task Force<br>COVID feeding<br>**Analysis of support costs**<br>Independent examiner's fee (restricted)|**Total**<br>**funds**<br>**2022**<br>**£**<br>**2,184**<br>**5,214**<br>**4,980**<br>**927**<br>**1,686**<br>**4,239**<br>**2,847**<br>**1,204**<br>**8,077**<br>**1,092**<br>**1,966**<br>**1,336**<br>**4,954**<br>**40,706**<br>**Total**<br>**funds**<br>**2022**<br>**£**<br>**1,572**|Total<br>funds<br>2021<br>£<br>-<br>5,698<br>2,623<br>2,018<br>-<br>25,721<br>-<br>3,331<br>5,282<br>853<br>4,590<br>-<br>4,486|
|---|---|---|
|||54,602|
|||Total<br>funds<br>2021<br>£<br>1,500|



Page 12 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 13 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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**<br>General fund<br>**Restricted funds**<br>Sponsorship<br>Medical projects<br>Water improvement<br>Truck<br>Governance and administrative<br>Solar electricity system<br>Additional teachers<br>Boys Hostel<br>Deaf School<br>**Total of funds**|**Balance at 1**<br>**November**<br>**2021**<br>**£**<br>**37,949**<br>**3,181**<br>**3,215**<br>**-**<br>**-**<br>**-**<br>**1,675**<br>**32,186**<br>**-**<br>**1,410**<br>**41,667**<br>**79,616**|**Income**<br>**£**<br>**12,258**<br>**2,014**<br>**-**<br>**-**<br>**5,531**<br>**3,375**<br>**-**<br>**-**<br>**25,000**<br>**3,500**<br>**39,420**<br>**51,678**|**Expenditure**<br>**£**<br>**(20,964)**<br>**(927)**<br>**(1,687)**<br>**-**<br>**-**<br>**(1,572)**<br>**(2,847)**<br>**(8,076)**<br>**(4,239)**<br>**(1,966)**<br>**(21,314)**<br>**(42,278)**|**Transfers**<br>**in/out**<br>**£**<br>**4,359**<br>**-**<br>**-**<br>**20,761**<br>**(5,531)**<br>**-**<br>**1,172**<br>**-**<br>**(20,761)**<br>**-**<br>**(4,359)**<br>**-**|**Balance at**<br>**31 October**<br>**2022**<br>**£**<br>**33,602**|
|---|---|---|---|---|---|
||||||**4,268**<br>**1,528**<br>**20,761**<br>**-**<br>**1,803**<br>**-**<br>**24,110**<br>**-**<br>**2,944**|
||||||**55,414**|
||||||**89,016**|



Page 14 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 15 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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**<br>General fund<br>**Restricted funds**<br>Sponsorship<br>Medical projects<br>Hostel<br>Governance and administrative<br>Solar electricity system<br>Additional teachers<br>Deaf School<br>Feeding Program<br>**Total of funds**|Balance at<br>1 November<br>2020<br>£<br>34,802<br>3,929<br>3,215<br>13,281<br>-<br>675<br>27,468<br>-<br>-<br>48,568<br>83,370|Income<br>£<br>22,558<br>1,270<br>-<br>10,000<br>1,500<br>1,000<br>10,000<br>6,000<br>20<br>29,790<br>52,348|Expenditure<br>£<br>(12,505)<br>(2,018)<br>-<br>(25,721)<br>(1,500)<br>-<br>(5,282)<br>(4,590)<br>(4,486)<br>(43,597)<br>(56,102)|Transfers<br>in/out<br>£<br>(6,906)<br>-<br>-<br>2,440<br>-<br>-<br>-<br>-<br>4,466<br>6,906<br>-|Balance at<br>31 October<br>2021<br>£<br>37,949|
|---|---|---|---|---|---|
||||||3,181<br>3,215<br>-<br>-<br>1,675<br>32,186<br>1,410<br>-|
||||||41,667|
||||||79,616|



Page 16 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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<br>Restricted funds|**Balance at 1**<br>**November**<br>**2021**<br>**£**<br>**37,949**<br>**41,667**<br>**79,616**<br>Balance at<br>1 November<br>2020<br>£<br>34,802<br>48,568<br>83,370|**Income**<br>**£**<br>**12,258**<br>**39,420**<br>**51,678**<br>Income<br>£<br>22,558<br>29,790<br>52,348|**Expenditure**<br>**£**<br>**(20,964)**<br>**(21,314)**<br>**(42,278)**<br>Expenditure<br>£<br>(12,505)<br>(43,597)<br>(56,102)|**Transfers**<br>**in/out**<br>**£**<br>**4,359**<br>**(4,359)**<br>**-**<br>Transfers<br>in/out<br>£<br>(6,906)<br>6,906<br>-|**Balance at**<br>**31 October**<br>**2022**<br>**£**<br>**33,602**<br>**55,414**|
|---|---|---|---|---|---|
||||||**89,016**|
||||||Balance at<br>31 October<br>2021<br>£<br>37,949<br>41,667|
|**Summary of funds - prior year**||||||
|General funds<br>Restricted funds||||||
||||||79,616|



**8. Analysis of net assets between funds** 

**Analysis of net assets between funds - current year** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>Current assets<br>33,602<br>**Total**<br>33,602|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>55,414<br>55,414|**Total**<br>**funds**<br>**2022**<br>**£**<br>**89,016**|
|---|---|---|
|||**89,016**|



Page 17 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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<br>**Total**|Unrestricted<br>funds<br>2021<br>£<br>37,949<br>37,949|Restricted<br>funds<br>2021<br>£<br>41,667<br>41,667|Total<br>funds<br>2021<br>£<br>79,616|
|---|---|---|---|
||||79,616|



## **9. Other financial commiitments** 

There are no other financial commitments to disclose in the year ended 31 October 2022. 

Page 18 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

**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 

Page 1 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 2 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 3 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 4 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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 

Page 5 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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: 

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 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. 

Page 6 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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 

Page 7 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>2<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>3<br>**Total expenditure**<br>**Net (expenditure)/income**<br>Transfers between funds<br>6<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>**12,258**<br>**12,258**<br>**20,964**<br>**20,964**<br>**(8,706)**<br>**4,359**<br>**(4,347)**<br>**37,949**<br>**33,602**|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>**39,420**<br>**39,420**<br>**21,314**<br>**21,314**<br>**18,106**<br>**(4,359)**<br>**13,747**<br>**41,667**<br>**55,414**|**Total**<br>**funds**<br>**2022**<br>**£**<br>**51,678**<br>**51,678**<br>**42,278**<br>**42,278**<br>**9,400**<br>**-**<br>**9,400**<br>**79,616**<br>**89,016**|Total<br>funds<br>2021<br>£<br>52,348<br>52,348<br>56,102<br>56,102<br>(3,754)<br>-<br>(3,754)<br>83,370<br>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. 

Page 8 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)** 

## **BALANCE SHEET AS AT 31 OCTOBER 2022** 

|**Note**<br>**Fixed assets**<br>**Current assets**<br>Cash at bank and in hand<br>**Net current assets**<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>6<br>Unrestricted funds<br>6<br>**Total funds**|**89,016**|**2022**<br>**£**<br>**-**<br>**89,016**<br>**89,016**<br>**55,414**<br>**33,602**<br>**89,016**|79,616|2021<br>£|
|---|---|---|---|---|
|||||-<br>79,616|
||||||
|||||79,616|
|||||41,667<br>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. 

Page 9 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 10 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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**<br>General donations<br>Solar electricity system<br>Sponsorship<br>Additional teachers<br>Governance and administrative contributions<br>Hostel<br>Deaf School<br>Feeding Program<br>Truck<br>**Subtotal**<br>Total 2021|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>12,258<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>12,258<br>22,558|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>-<br>-<br>2,014<br>-<br>3,375<br>25,000<br>3,500<br>-<br>5,531<br>5,531<br>39,420<br>29,790|**Total**<br>**funds**<br>**2022**<br>**£**<br>**12,258**<br>**-**<br>**2,014**<br>**-**<br>**3,375**<br>**25,000**<br>**3,500**<br>**-**<br>**5,531**<br>**5,531**<br>**51,678**<br>52,348|Total<br>funds<br>2021<br>£<br>22,558<br>1,270<br>1,000<br>10,000<br>1,500<br>10,000<br>6,000<br>20<br>-|
|---|---|---|---|---|
|||||-|
||||||
|||||52,348|
||||||



## **3. Analysis of expenditure on charitable activities** 

## **Summary by fund type** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>Direct costs<br>20,964<br>Total 2021<br>12,505|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>21,314<br>43,597|**Total**<br>**2022**<br>**£**<br>**42,278**<br>56,102|Total<br>2021<br>£<br>56,102|
|---|---|---|---|
|||||



Page 11 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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<br>College<br>Schools<br>Sponsorship (Restricted)<br>Medical projects (Restricted)<br>Hostel (Restricted)<br>Solar electricity system (Restricted)<br>Cost of practicals for final exam<br>Cost of additional Teachers (Restricted)<br>Scholarship scheme<br>Deaf School (Restricted)<br>Task Force<br>COVID feeding<br>**Analysis of support costs**<br>Independent examiner's fee (restricted)|**Total**<br>**funds**<br>**2022**<br>**£**<br>**2,184**<br>**5,214**<br>**4,980**<br>**927**<br>**1,686**<br>**4,239**<br>**2,847**<br>**1,204**<br>**8,077**<br>**1,092**<br>**1,966**<br>**1,336**<br>**4,954**<br>**40,706**<br>**Total**<br>**funds**<br>**2022**<br>**£**<br>**1,572**|Total<br>funds<br>2021<br>£<br>-<br>5,698<br>2,623<br>2,018<br>-<br>25,721<br>-<br>3,331<br>5,282<br>853<br>4,590<br>-<br>4,486|
|---|---|---|
|||54,602|
|||Total<br>funds<br>2021<br>£<br>1,500|



Page 12 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 13 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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**<br>General fund<br>**Restricted funds**<br>Sponsorship<br>Medical projects<br>Water improvement<br>Truck<br>Governance and administrative<br>Solar electricity system<br>Additional teachers<br>Boys Hostel<br>Deaf School<br>**Total of funds**|**Balance at 1**<br>**November**<br>**2021**<br>**£**<br>**37,949**<br>**3,181**<br>**3,215**<br>**-**<br>**-**<br>**-**<br>**1,675**<br>**32,186**<br>**-**<br>**1,410**<br>**41,667**<br>**79,616**|**Income**<br>**£**<br>**12,258**<br>**2,014**<br>**-**<br>**-**<br>**5,531**<br>**3,375**<br>**-**<br>**-**<br>**25,000**<br>**3,500**<br>**39,420**<br>**51,678**|**Expenditure**<br>**£**<br>**(20,964)**<br>**(927)**<br>**(1,687)**<br>**-**<br>**-**<br>**(1,572)**<br>**(2,847)**<br>**(8,076)**<br>**(4,239)**<br>**(1,966)**<br>**(21,314)**<br>**(42,278)**|**Transfers**<br>**in/out**<br>**£**<br>**4,359**<br>**-**<br>**-**<br>**20,761**<br>**(5,531)**<br>**-**<br>**1,172**<br>**-**<br>**(20,761)**<br>**-**<br>**(4,359)**<br>**-**|**Balance at**<br>**31 October**<br>**2022**<br>**£**<br>**33,602**|
|---|---|---|---|---|---|
||||||**4,268**<br>**1,528**<br>**20,761**<br>**-**<br>**1,803**<br>**-**<br>**24,110**<br>**-**<br>**2,944**|
||||||**55,414**|
||||||**89,016**|



Page 14 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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. 

Page 15 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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**<br>General fund<br>**Restricted funds**<br>Sponsorship<br>Medical projects<br>Hostel<br>Governance and administrative<br>Solar electricity system<br>Additional teachers<br>Deaf School<br>Feeding Program<br>**Total of funds**|Balance at<br>1 November<br>2020<br>£<br>34,802<br>3,929<br>3,215<br>13,281<br>-<br>675<br>27,468<br>-<br>-<br>48,568<br>83,370|Income<br>£<br>22,558<br>1,270<br>-<br>10,000<br>1,500<br>1,000<br>10,000<br>6,000<br>20<br>29,790<br>52,348|Expenditure<br>£<br>(12,505)<br>(2,018)<br>-<br>(25,721)<br>(1,500)<br>-<br>(5,282)<br>(4,590)<br>(4,486)<br>(43,597)<br>(56,102)|Transfers<br>in/out<br>£<br>(6,906)<br>-<br>-<br>2,440<br>-<br>-<br>-<br>-<br>4,466<br>6,906<br>-|Balance at<br>31 October<br>2021<br>£<br>37,949|
|---|---|---|---|---|---|
||||||3,181<br>3,215<br>-<br>-<br>1,675<br>32,186<br>1,410<br>-|
||||||41,667|
||||||79,616|



Page 16 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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<br>Restricted funds|**Balance at 1**<br>**November**<br>**2021**<br>**£**<br>**37,949**<br>**41,667**<br>**79,616**<br>Balance at<br>1 November<br>2020<br>£<br>34,802<br>48,568<br>83,370|**Income**<br>**£**<br>**12,258**<br>**39,420**<br>**51,678**<br>Income<br>£<br>22,558<br>29,790<br>52,348|**Expenditure**<br>**£**<br>**(20,964)**<br>**(21,314)**<br>**(42,278)**<br>Expenditure<br>£<br>(12,505)<br>(43,597)<br>(56,102)|**Transfers**<br>**in/out**<br>**£**<br>**4,359**<br>**(4,359)**<br>**-**<br>Transfers<br>in/out<br>£<br>(6,906)<br>6,906<br>-|**Balance at**<br>**31 October**<br>**2022**<br>**£**<br>**33,602**<br>**55,414**|
|---|---|---|---|---|---|
||||||**89,016**|
||||||Balance at<br>31 October<br>2021<br>£<br>37,949<br>41,667|
|**Summary of funds - prior year**||||||
|General funds<br>Restricted funds||||||
||||||79,616|



**8. Analysis of net assets between funds** 

**Analysis of net assets between funds - current year** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>Current assets<br>33,602<br>**Total**<br>33,602|**Restricted**<br>**funds**<br>**2022**<br>**£**<br>55,414<br>55,414|**Total**<br>**funds**<br>**2022**<br>**£**<br>**89,016**|
|---|---|---|
|||**89,016**|



Page 17 



DocuSign Envelope ID: 0B4E2C2C-C7D1-4BC9-845B-C65E305E327D 

## **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<br>**Total**|Unrestricted<br>funds<br>2021<br>£<br>37,949<br>37,949|Restricted<br>funds<br>2021<br>£<br>41,667<br>41,667|Total<br>funds<br>2021<br>£<br>79,616|
|---|---|---|---|
||||79,616|



## **9. Other financial commiitments** 

There are no other financial commitments to disclose in the year ended 31 October 2022. 

Page 18