Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
Charity number: 1126462
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
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: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2023
Trustees
Patrick Sullivan, Chairman Thomas Yendell, Vice Chairman Christopher Moller, Honorary Treasurer Anne Moller, Secretary Roger Gillman Jayne Pratt Joe Sparks Alice Yaya Tsatsu Agbagba (appointed 9 September 2023) Saharesh Ali (appointed 9 September 2023)
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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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees present their annual report together with the financial statements of the The Education and Book Appeal, Ghana (TEABAG) for the 1 November 2022 to 31 October 2023.
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').
IIt also funds the primary schools in the villages of Mankoadze, Abrekum and Onyadze.
The charity has continued to work within its objectives to assist those in need and to relieve poverty in accordance with guidance issued by the Charity Commission on public benefit.
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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
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, with a particular focus on education and health.
The Vocational College has completed its first year as a fully independent vocational education institution, taking full advantage of control over staff appointments, admissions policy and curriculum. We have now completed teaching the final year of the previous curriculum.
The village schools have suffered a loss of teaching staff, due to low salaries and lack of teacher accommodation. In response, we have organised for local people (who unfortunately are not educationally trained) to attend the schools and maintain order, but this is scarcely a satisfactory solution. The government shows no sign of addressing this, and TEABAG is unable to take on the responsibility for the staffing of the schools, though we have continued to provide maintenance for the fabric of the school buildings (which we do not own).
We have migrated the accounts in both the UK and Ghana to QuickBooks, and trained the Treasurer and College Administrator in operation of the new system. An “open book” policy has been adopted, giving the teams in both countries full transparency. Ghana staff salaries are now paid into bank accounts, and the use of cash has been minimised.
All UK costs have been covered by a generous donation from the founder of the charity, enabling us to continue to say to prospective donors that 100% of their donation will go to Ghana. We consider this to be a particularly strong selling point for the charity.
Exchange rate volatility became even more of an issue during the year, and agreement has now been reached with the staff that salaries are pegged to sterling, with conversion to Ghana cedis at the point of payment. This has resulted in salaries rising significantly in numerical terms, although profiteering in Ghana has inflated prices even more. We intend in the coming year to add an annual review to account for the inflation of sterling, and to provide additional exceptional staff performance awards.
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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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
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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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
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:
==> picture [96 x 37] intentionally omitted <==
................................................ Patrick Sullivan Chair of Trustees Date: 12/8/2024
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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
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 2023.
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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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
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.
12/8/2024 Signed: Dated: Jennifer L Tolmie FCA Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 7
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2023
| 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 2023 £ 12,474 12,474 15,848 15,848 (3,374) (6,650) (10,024) 33,602 23,578 |
Restricted funds 2023 £ 41,429 41,429 42,483 42,483 (1,054) 6,650 5,596 55,414 61,010 |
Total funds 2023 £ 53,903 53,903 58,331 58,331 (4,428) - (4,428) 89,016 84,588 |
Total funds 2022 £ 51,678 |
|---|---|---|---|---|
| 51,678 | ||||
| 42,278 | ||||
| 42,278 | ||||
| 9,400 - |
||||
| 9,400 | ||||
| 79,616 | ||||
| 89,016 |
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: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
BALANCE SHEET AS AT 31 OCTOBER 2023
| 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 |
84,588 | 2023 £ - 84,588 84,588 61,010 23,578 84,588 |
89,016 | 2022 £ |
|---|---|---|---|---|
| - 89,016 |
||||
| 89,016 | ||||
| 55,414 33,602 |
||||
| 89,016 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Patrick Sullivan Chair of Trustees Date: 12/8/2024
The notes on pages 10 to 18 form part of these financial statements.
Page 9
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
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: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
2. Income from donations and legacies
| Donations General donations Sponsorship Additional teachers Governance and administrative contributions Hostel Deaf School Feeding Program Water Improvement Plastic Project Catering Refurbishment Kindergarten Refurbishment Truck Total 2022 |
Unrestricted funds 2023 £ 12,474 - - - - - - - - - - - 12,474 12,258 |
Restricted funds 2023 £ - 913 30,000 1,982 - - 1,000 1,000 331 1,203 5,000 - 41,429 39,420 |
Total funds 2023 £ 12,474 913 30,000 1,982 - - 1,000 1,000 331 1,203 5,000 - 53,903 51,678 |
Total funds 2022 £ 12,258 2,014 - 3,375 25,000 3,500 - - - - - 5,531 |
|---|---|---|---|---|
| 51,678 | ||||
3. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 2023 £ Direct costs 15,848 Total 2022 20,964 |
Restricted funds 2023 £ 42,483 21,314 |
Total 2023 £ 58,331 42,278 |
Total 2022 £ 42,278 |
|---|---|---|---|
Page 11
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
4. Analysis of expenditure by type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Governance | Total | Total | |
| directly | costs | funds | funds | |
| 2023 | 2023 | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 56,349 | 1,982 | 58,331 | 42,278 |
Analysis of direct costs
| General maintenance and administrative College Schools Sponsorship (Restricted) Medical projects (Restricted) Hostel (Restricted) Solar Electricity system (Restricted) Water improvement (Restricted) Kindergarten Refurb project (Restricted) Cost of additional Teachers (Restricted) Scholarship scheme Deaf School (Restricted) Task force Plastic recycling project (Restricted) Feeding programme |
Total funds 2023 £ 2,687 9,779 3,382 1,536 119 - - 1,935 7,124 21,786 - 2,262 - 219 5,520 56,349 |
Total funds 2022 £ 2,184 5,214 6,184 927 1,686 4,239 2,847 - - 8,077 1,092 1,966 1,336 - 4,954 |
|---|---|---|
| 40,706 |
Page 12
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
4. Analysis of expenditure by type (continued)
Analysis of support costs
| Total | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Independent examiner's fee (restricted) | 1,982 | 1,572 |
5. Financial instruments
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 84,588 | 89,016 |
Financial assets measured at fair value through income and expenditure comprise cash at bank.
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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
6. Statement of funds
Statement of funds - current year
| Unrestricted funds General fund Restricted funds Sponsorship Medical projects Water improvement Governance and administrative Additional teachers Deaf School Feeding Program Plastic recycling project Catering Refurb project Kindergarten Refurb project Total of funds |
Balance at 1 November 2022 £ 33,602 4,268 1,528 20,761 1,803 24,110 2,944 - - - - 55,414 89,016 |
Income £ 12,474 913 - 1,000 1,982 30,000 - 1,000 331 1,203 5,000 41,429 53,903 |
Expenditure £ (15,848) (1,536) (119) (1,935) (1,982) (21,786) (2,262) (5,520) (219) - (7,124) (42,483) (58,331) |
Transfers in/out £ (6,650) - - - - - - 4,520 - - 2,130 6,650 - |
Balance at 31 October 2023 £ 23,578 |
|---|---|---|---|---|---|
| 3,645 1,409 19,826 1,803 32,324 682 - 112 1,203 6 |
|||||
| 61,010 | |||||
| 84,588 |
Page 14
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
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.
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). This fund received additional funding in 2023.
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 will be continued indefinitely. In due course, the initiative to start a market garden will mean that the cost of purchased vegetables should reduce.
Plastic recycling project
The amount of rubbish (largely plastic) in one of the supported villages had become really quite offensive. This was particularly frustrating as there is a potential market for recycled plastic. The project was to provide seed funding for a scheme to collect waste plastic, bundle it up, and take it to a company in Accra that could process it into plastic bags. One campaign has happened, and we are likely to provide financial support with the remaining funds for another campaign.
Catering Refurb project
The plumbing in the Catering Department at the supported college was in an unsatisfactory condition, and we implemented the necessary improvements. We also re-equipped with 15 sets of catering utensils, and new gas-powered ovens.
Kindergarten Refurb project
Although the village schools are Ghana government property, they receive almost no government support. For some years, TEABAG has taken on patching up the classrooms. This year, it was the turn of the kindergarten class. We implemented a programme of re-roofing and decorating.
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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
6. Statement of funds (continued)
Statement of funds - prior 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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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
7. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 November 2022 £ 33,602 55,414 89,016 Balance at 1 November 2021 £ 37,949 41,667 79,616 |
Income £ 12,474 41,429 53,903 Income £ 12,258 39,420 51,678 |
Expenditure £ (15,848) (42,483) (58,331) Expenditure £ (20,964) (21,314) (42,278) |
Transfers in/out £ (6,650) 6,650 - Transfers in/out £ 4,359 (4,359) - |
Balance at 31 October 2023 £ 23,578 61,010 |
|---|---|---|---|---|---|
| 84,588 | |||||
| Balance at 31 October 2022 £ 33,602 55,414 |
|||||
| Summary of funds - prior year | |||||
| General funds Restricted funds |
|||||
| 89,016 |
8. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Current assets 23,578 Total 23,578 |
Restricted funds 2023 £ 61,010 61,010 |
Total funds 2023 £ 84,588 |
|---|---|---|
| 84,588 |
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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
THE EDUCATION AND BOOK APPEAL, GHANA (TEABAG)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
8. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Total |
Unrestricted funds 2022 £ 33,602 33,602 |
Restricted funds 2022 £ 55,414 55,414 |
Total funds 2022 £ 89,016 |
|---|---|---|---|
| 89,016 |
9. Other financial commiitments
There are no other financial commitments to disclose in the year ended 31 October 2023.
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Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
TEABAG (The Education And Book Appeal Ghana) 344 High Street, Cottenham, Cambridge, CB24 8TX
Griffin Stone Moscrop & Co. 21-27 Lamb’s Conduit Street London WC1N 3GS
12/8/2024
Dear Sirs,
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 October 2023. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
1) Audit exemption
We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion. We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 from the requirement to have its financial statements for the year ended 31 October 2023 audited.
2) Financial records
We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 5 May 2022, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
All the accounting records have been made available to you for the purpose of your independent examination and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information, including minutes of all trustees’ and management meetings and correspondence with the Charity Commission.
3) Immaterial adjustments
We confirm the financial statements are free of material misstatements, including omissions. Uncorrected misstatements found during the examination, other than those of a trivial nature, are shown below:
-
Shortfall in receipt of Gift aid donation refund £999; Income understated; Debtors
-
understated.
and we confirm that no adjustment need be made for them in the financial statements as their effect is immaterial, both individually and in total.
4) Going concern
As trustees we have considered the financial position of the charity. We believe that the charity’s financial statements should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.
Docusign Envelope ID: CC873B0C-572C-41FF-AA13-7882686063F0
5) Related parties
Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
6) Assets and liabilities
We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the charity's assets, except for those that are disclosed in the notes to the financial statements.
We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclosed in the notes to the financial statements all guarantees that we have given to third parties.
We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements.
7) Accounting estimates
The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.
Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
8) Capital commitments
There were no material capital commitments at the year end other than as disclosed in the financial statements.
9) Legal claims
We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.
10) Subsequent events All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed. Should further material events occur we will advise you accordingly.
11) Laws and regulations We acknowledge as trustees our responsibilities to take appropriate steps to provide reasonable assurance that the charity has complied with laws and regulations applicable to its activities and to establish arrangements for preventing any non-compliance with laws and regulations and detecting any that occur.
We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
12) Grants and donations All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
Yours faithfully
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Trustee
On behalf of the board