OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-09-30-accounts

Deki Ltd Annual Accounts

October 2019 to September 2020

“Deki loans are the starting point for us women. We are thankful from the deepest part of our hearts”

Deki’s vision is for a world of opportunity, not poverty

Deki’s mission is to empower communities to be free from extreme poverty

1

Joint letter from Deki’s CEO and IADES’ MD

“If you want to go fast, go alone. If you want to go far, go together” African Proverb

We would like to start by thanking our donors for joining us and supporting our mission to empower communities in Togo to work their way out of poverty.

Like many charities the big ambitions we had for 2020 were not achieved in the way that we’d planned. But the pandemic taught us new ways of working, both in the UK and in Togo.

When Togo went into lockdown in March many of the families that we support lost their income overnight. To stop the risk of spreading the virus we immediately paused our fortnightly

visits to rural communities. Instead, we changed our focus to providing emergency loans via mobile money, alongside emergency food and PPE parcels. When we were able, we started to slowly resume our normal activities.

We’re proud that the work that we do has impacted close to 3,000 people this financial year, not always in the way that was planned, but in the way that was best in such unprecedented circumstances.

The pause in our regular programmes gave us time to reflect on our work and the impact that we’d like to create together. Our passion for helping families to develop sustainable livelihoods and become financially resilient is at the heart of everything we do. With this in mind our plan to achieve this from 2021 onwards focuses on four strategic programmes.

We have included information about each of these programmes in this report, if you’d like to find out more, please do email Vashti to arrange a conversation.

Here’s to creating the change we want to see in the world!

Best wishes, Cordialement,
Vashti Seth Christian Kadangah
Vashti@deki.org.uk

2

MESSAGE FROM DEKI’S CHAIR OF TRUSTEES – CONSULOTA PRICE OBE

The COVID-19 pandemic has affected Deki, both within the communities where we work in West Africa and the way we work in the UK.

COVID-19 in Togo

Cases of COVID-19 were first reported in Togo in March 2020. The government took measures to contain the spread of the virus by restricting movement and promoting self-isolation through school, road and market closures.

In comparison to other countries, Togo’s COVID-19 reported cases have been low, however, the effect of the crisis on Deki entrepreneurs has been profound. They depend on their income to pay for their most basic of needs, some Deki Entrepreneurs lost their primary sources of income overnight. In response to the crisis, Deki and IADES have worked closely over the last 10 months to provide relief and support. An emergency pandemic committee was set up in Togo to coordinate official advice and to help identify where support was needed the most.

When safe to do so, IADES staff visited hard to reach communities, bringing up-to-date information, dispelling rumours and helping communities to protect themselves and look after each other. Widows and families living in rural areas were identified as amongst the most vulnerable and these Deki Entrepreneurs were the first to receive donations of masks, hand gel and emergency food supplies.

Throughout the crisis, we have continued to support our community groups - during July and August, we provided nearly 200 emergency loans and delayed repayments to relieve financial pressure. Whilst activities have just about returned to normal and we are looking forward to a busy 2021, our priority remains to protect the health of our team and our beneficiaries. The team in Togo will continue to follow official advice; wearing protective equipment and adhering to social distancing.

Best wishes,

Consulota Price OBE

3

DEKI’S STRATEGY - OUR THEORY OF CHANGE

It is our mission to empower communities to be free from absolute poverty. We invest in the future of hardworking entrepreneurs by providing ethical micro loans, alongside business training and community development projects. Working in Togo, West Africa, helping families develop sustainable livelihoods and become financially resilient, is at the heart of everything we do.

Together with our partners and local communities, we achieve this through our four strategic programmes:

programmes:
STRATEGIC PROGRAMMES KEY PROGRAMMES OUTCOMES
EMPOWERING Women’s Empowerment •Increased access to financial services
WOMEN Collectives –
Empowers women through •Increased agency to make decisions
leadership opportunities and
financial inclusion. •Increased income and ability to save
SUPPORTING Agricultural Cooperatives - •Increased access to financial services
SMALL SCALE Supports small -scale food
FARMERS producers to work together to •Increased knowledge of sustainable
grow their livelihoods agricultural techniques
•Increased access to markets
•Increased income and productivity
IMPROVING MUSA: Healthcare for all – •Increased access to basic healthcare services
ACCESS TO Increases access to basic health
HEALTH CARE services, information and •Decreased household out-of-pocket
education expenditure on health care
•Improved health education and literacy
INVESTING IN Akadi Clean Energy Enterprise - •Increased access to modern and affordable
CLEAN ENERGY Increases access to affordable and
energy
clean energy, whilst reducing
carbon emissions and creating •Decreased long-term household spending on
jobs for women. energy
•Decreased household carbon emissions
•Creation of new clean energy jobs for women

4

OUR PROGRAMMES WORK TOWARDS 12 SDGs

SDG 1 – No
Poverty:
SDG 10 Reduced
Inequalities:
Poverty and inequality reduction is the heart of our work.
We provide opportunities for people living in poverty in hard-to-reach
communities. We do this by increasing their access to basic services such
as financial services, education, energy and health care.
SDG 2 - Zero
Hunger:
Our Agricultural Cooperatives programme supports small-scale farmers
to increase their productivity and income, fighting rural poverty and
hunger.
SDG 3 - Good
Health and
Wellbeing:
Our Healthcare for all programme
provided financial risk protection, contributing towards achieving
universal health coverage for all by 2030.
SDG 4 – Quality
Education:
We provide adults with the opportunity to access business and
entrepreneurship training.
SDG 5 – Gender
Equality:
We educate women about their fundamental human rights, such as their
right to education and to be free from violence.
SDG 7 –
Affordable and
Clean Energy:
Our new programme, Akadi, increases access
to affordable and modern energy services by distributing solar lamps and
improved cook stoves to hard-to-reach communities.
SDG 8 – Decent
Work and
Economic
Growth:
Through Women’s Empowerment Collectives and Agricultural
Cooperatives we provide access to financial services to previously
‘unbankable’ women and men
SDG 11-
Sustainable
Cities and
Communities:
Through Akadi and MUSA we help to increase access to basic services
such as care from licensed health professionals and modern cooking
solutions
SDG 12 –
Responsible
Consumption
and Production
and SDG 15 –
Life on Land:
As part of the Agricultural Cooperatives programme, we educate farmers
about how to manage their farms sustainably. We help them to protect
their forests, their soils and water sources.
SDG 13 – Climate
Action:
Akadi will help to reduce household carbon emissions and deforestation
by increasing access to solar energy products and fuel-efficient cook
stoves.

5

SUCCESS STORY

Madame Wassime - Continuing Deki’s legacy and empowering the next generation of entrepreneurs

Madame Wassime, known locally as Afi, has been a Deki Entrepreneur since 2016. Without any formal schooling, Afi was unable to access financial services to invest in her business. She dreamed of buying a plot of land and building a home one day, but without capital, she never thought it could be possible.

Then she heard about the opportunities available to her through a Deki loan and joined the Ave Marie women’s empowerment collective. Once Afi received her loan, she was excited to attend the training workshops which would support her to build her business and make it a success.

Four years later, and Madame Wassime, has a successful, busy shop selling a variety of food produce, and she is keen to pass on the lessons she has learnt. Afi remains a member of Ave Marie and acts as a mentor to the new entrepreneurs joining, offering them her support, encouragement and advice. She is helping them to grow in confidence, to use their voices and to be successful entrepreneurs.

During the pandemic, with the increased need for clean water, Afi used her last Deki loan to help her community, and had a water fountain installed outside her shop. Until now, there had been no source of drinking water in her neighbourhood. Previously, many of the residents had struggled to bear the cost of buying fresh, clean water and would travel for miles, mostly on foot, to risk collecting unsafe water.

Now there is fresh, potable water readily available for the other women in her village and they no longer need to spend hours walking to gather dirty water risking disease or possible assault.

Madame Wassime sells the water at cost price and asks only that it covers the maintenance of the fountain. Afi has had her last loan for now, but she continues to be an inspiration, both to us and to the people around her.

6

STRUCTURE, MANAGEMENT & GOVERNANCE

Deki was incorporated on 5 September 2008. It is a company limited by guarantee and was previously a community interest company (CIC).

In July 2010, the directors decided that the activities of Deki were better suited to a charitable entity and consequently changed legal form, from a CIC to a company limited by guarantee. The company then proceeded to obtain registered charity status on 23 July 2010.

The company is governed by its memorandum and articles of association dated 5 September 2008, as amended on 1 February 2010.

The charity is governed by a Board of Trustees, currently numbering five as of 30st September 2020.

The Trustees meet every three months and are responsible for the strategic direction and policy of the charity. All Trustees give their time voluntarily and receive no benefits from the charity.

Day to day operations are delegated to a small team of staff, all working part time, currently comprising the Chief Executive Officer, International Programmes Manager, Operations Manager, Marketing Executive.

The Trustees endeavour to maintain a broad mix of skills across the Board of Trustees. If a skills gap is identified new Trustees are recruited for via the Deki website and through other relevant networks. Deki actively seek against a job description and there is a formal process that requires applicants to submit a CV and covering letter, and those short-listed are invited to interview. Potential new Trustees are invited to attend a Board of Trustees’ meeting as an observer before their Trusteeship is confirmed. They are given a copy of the charity’s Memorandum and Articles of Association and a copy of the charity’s most recent accounts. New Trustees are also given a copy of the Charity Commission publication “CC3 – The Essential Trustee.”

Risk Management

Deki’s Trustees acknowledge that they have overall responsibility for the efficient operation of the charity and that they have a duty to review the risks to which the charity is exposed and to implement effective risk management procedures. Risk management is built into the charity’s business planning process.

The Trustees have complied with their legal duty under the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Charity Commission.

Safeguarding

We are committed to protecting all children and adults against all forms of abuse and we expect everyone who works in our organisation to share this commitment. We request two references from every staff and volunteer member working for Deki and reserve the right to request a Disclosure and Barring Service (DBS) check if appropriate. We have a Risk and Safeguarding Trustee, Valentine Granet.

Whistle blowing

We are committed to conducting our business with honesty and integrity, and we expect all staff to maintain high standards. However, all organisations face the risk of things going wrong from time to time, or of unknowingly harbouring illegal or unethical conduct. A culture of openness and accountability is essential in order to prevent such situations occurring or to address them when they do occur.

7

Deki aims to:

● encourage staff to report suspected wrongdoing as soon as possible, in the knowledge that their concerns will be taken seriously and investigated as appropriate, and that their confidentiality will be respected.

● provide staff with guidance as to how to raise those concerns.

● reassure staff that they should be able to raise genuine concerns in good faith without fear of reprisals, even if they turn out to be mistaken.

Financial Review

2019-20 has been a challenging year for Deki's finances, as the global pandemic has reduced donations from individuals and the availability of funding from trusts and corporations. As a result, the deficit in free cash reserves increased to £13,845, from £3,782 at the previous year end. At the year-end unrestricted reserves were in deficit by £10,259 (2018-19 £676).

The charity has restructured in order to reduce staffing and office costs during the year, so that the running costs are now within the available income at this time.

In addition to reducing costs Deki has taken out a Government Bounce Back loan from Santander Bank loan of £30,000 which is repayable over 6 years: this ensures that we can meet our liabilities whilst we work off the deficit on unrestricted funds.

Reserves policy

The Board of Trustees has determined that the target level of unrestricted reserves of the charity should be equivalent to not less than three months' expenditure. This would provide sufficient funds to cover management, administration and support costs in the event of an unexpected reduction in donations. Based upon current budget of £120,000 total unrestricted expenditure in 2020/21, we aim to have reserves of £30,000. Through the implementation of the charity’s new operating model and with careful budgeting in future periods, the Trustees anticipate that free cash reserves will grow to meet the target over the next few years.

Restricted funds

Deki has £69,165 restricted for lending (2019 £81,712). These funds are managed by Deki and relent once repaid by the Deki entrepreneurs. These funds will not be withdrawn or spent out. The funds may reduce due to fluctuations in exchange rates when loans are repaid, or where Deki entrepreneurs, or Field Partners default on repayments.

Remuneration policy

Deki is committed to ensuring that we pay our staff fairly and in a way that ensures we attract and retain the right skills to have the greatest impact in delivering our charitable objectives. In accordance with the Charities the Statement of Recommended Practice 2015 (FRS 102), the Companies Act 2006, and the Charities Act 2011, Deki discloses the following:

● All payments made to Trustees (no Trustees receive ‘pay’ although they are entitled to claim for appropriate expenses)

● The number of staff in receipt of more than £60,000 (in bands of £10,000)

The Deki’s remuneration policy objective is to ensure that the CEO and staff team are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the success of the Charity. The appropriateness and relevance

8

of the remuneration policy is reviewed annually including reference to comparisons with other charities ensuring Deki remains sensitive to the broader issues e.g. pay and employment conditions elsewhere.

We aim to recruit, subject to experience, at the lower – medium point within a band, providing scope to be rewarded for excellence. We do not employ interns without pay and we pay the living wage for all our staff.

Delivery of Deki’s charitable vision and purpose is primarily dependent on our staff, which is the largest single element of charitable expenditure. None of our staff earned more than £60,000 in the year. The Chief Executive of Deki, Vashti Seth, is the highest paid member of staff. Her salary during the year was £28,163.

Deki Volunteers and Interns

Deki is incredibly grateful to our very passionate and dedicated volunteers, whose hard work we rely on to keep our overheads low and efficiency high. Since the charity's inception in 2010, Deki has forged strong links with The University of Bristol and The University of the West of England to develop a professional and much sought after Internship programme. Interns work on project based tasks with the communications, digital marketing, fundraising and international operations teams, which help them become 'work ready'.

Sub-Committees and Advisory Groups

Terms of reference for each are agreed by the Board. These committees and advisory groups report to the Board their discussions of relevant matters and advise on decisions, which are then taken by the Board. All committees are advised and serviced by Deki staff and meet on average every six weeks.

Management Structure

Trustees employ a salaried Chief Executive to manage the organisation and implement the strategic objectives. The Chief Executive directly manages the International Programmes Manager, Operations Manager and Marketing Executive.

Statutory Information

Company Number: 6689965 Charity Number: 1137047 Registered Office: Unit 6, 9 Bath Buildings, Bristol BS6 5PT Patron: Nick Park

Trustees

The trustees who served during the year and up to the date of this report were as follows:

Consulota Price OBE (Chair) (appointed 11[th] November 2020) Max Niño-Zarazúa Mark Burchfield (appointed 25th November 2019) Steven Garratt (appointed 25th November 2019) Simon Rimmer (Treasurer) (appointed 25th November 2019) Richard Tidswell (appointed 25th November 2019) Valentine Granet (appointed 11[th] November 2020) James Potten (resigned 30[th] June 2020)

9

Statement of trustees’ responsibilities

The trustees (who are also directors of Deki Limited for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees on 21[st ] June 2021 and signed on their behalf by:

Consulota Price

Trustee

10

Independent examiner's report to the trustees of Deki Ltd

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30[th] September 2020.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

………………............................................................................... 24[th] June 2021

Dick Maule FCA 3 Penlee View Terrace Penzance TR18 4HZ

11

Deki Limited

Statement of Financial Activities (Incorporating an Income and Expenditure Account)

For the period ended 30 September 2020

Note
Income from:
Donations
2
Investments
Total income
Expenditure on:
Raising funds
3
Charitable activities
3
Net income and movement in funds
4
Transfers between funds
11
Total funds brought forward
12
Total funds carried forward
12
Total expenditure		 Unrestricted
£
69,740
2
69,742
32,731
36,374
69,105
637
(11,571)
676
(10,259)		 Restricted
£
51,694
-
51,694
-
75,782
75,782
(24,089)
11,571
81,712
69,195		 Year to
30/09/2020
Total
£
121,434
2
121,436
32,731
112,156
144,888
(23,452)
-
82,388
58,936		 18 months to
30/09/2019
Total
£
297,556
14
297,570
46,815
397,297
444,112
(146,542)
-
228,930
82,388

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

Fund Comparatives are shown in note 6.

The notes on pages 14 to 18 form part of these financial statements

12

Deki Limited

Balance Sheet

As at 30 September 2020 Company No: 6689965 Company No: 6689965

Note
Fixed Assets
Tangible Fixed Assets
8
Current Assets
Debtors
9
Cash at Bank and in Hand
Creditors: Amounts Due Within 1 Year
10
Net Current Assets
Creditors: Amounts Due After More Than 1 Year
11
Net Assets
Funds
Restricted Funds
12, 13
Unrestricted Funds:
General Funds
12, 13
Total Funds		 At
£
78,559
38,222
116,781
32,265
30/09/2020
At 31/03/2019
£
£
3,586
4,458
95,840
16,146
111,986
34,056
84,517
77,930
(29,167)
-
58,936
82,388
69,195
81,712
(10,259)
676
58,936
82,388
111,986
34,056
77,930
-
82,388
81,712
676
82,388

For the period ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities;

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the trustees on 21st June 2021 and signed on their behalf by:

Consulota Price

The notes on pages 14 to 18 form part of these financial statements

13

Deki Limited

Notes to The Financial Statements

For the period ended 30 September 2020

1. Accounting Policies

The charity is a public benefit entity as defined under FRS 102. The Trustees have adopted the going concern basis for the reasons outlined in the Trustees Report and as within note 14 to the accounts.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Website development 3 years straight line
Computer Equipment 3 years straight line

Items of equipment are capitalised where the purchase price exceeds £500.

2. Donations

Donations from Lenders
Covid relief grants
Other Grants and Donations
Gift Aid
Total income		 Unrestricted
-
28,334
36,357
5,049
69,740		 £
14,344
-
37,350
-
51,694
Restricted		 Year to
30/09/2020
Total
£
14,344
28,334
73,707
5,049
121,434		 18 months to
30/09/2019
Total
£
148,321
-
126,027
23,208
297,556

The charity received government grants of £28,334 (2019 nil) for Covid relief. There are no unfulfilled conditions or contingencies attaching to these grants in 2019-20.

14

Deki Limited

Notes to The Financial Statements

For the period ended 30 September 2020

3. Total Expenditure

Total Expenditure
Charitable Activites
Salaries & Wages (Note 5)
Travel
IT Costs
Rent
Office Costs
Projects
Miscellaneous
Bookkeeping & Accountancy
Bank Charges
Depreciation
Recruitment
Training
Bad debt loans
Foreign Exchange Loss
Raising Funds
Marketing and business
Wages & Salaries (Note 5)
Total Expenditure
Other fundraising costs		 Direct costs
£
44,300
4,175
-
-
-
26,740
-
-
-
-
-
1,202
-
32
3,009
21,316
8,406
109,180		 Support
costs
£
9,803
-
4,490
6,744
2,238
-
3,508
3,496
135
5,293
-
-
-
-
-
-
-
35,708		 Year to
30/09/2020
Total
£
54,103
4,175
4,490
6,744
2,238
26,740
3,508
3,496
135
5,293
-
1,202
-
32
3,009
21,316
8,406
144,888		 18 months to
30/09/2019
Total
£
163,008
1,976
21,477
10,140
10,549
2,060
297
5,382
950
3,249
403
1,457
113,940
62,409
6,315
29,237
11,263
444,112

The total of governance costs for the year were £525 (2019: £2,400).

4.
Net Income/(Expenditure)
This is stated after charging:
Independent Examiner's Fee
Depreciation
5.
Staff Costs and Numbers
Staff costs were as follows:
Salaries and Wages
Employer's National Insurance
Employer pensions
Trustees' Reimbursed Expenses
Trustees' Remuneration		 Year to
30/09/2020
£
525
5,293
Nil
Nil
Year to
30/09/2020
£
72,486
1,960
972
75,418		 18 months to
30/09/2019
£
2,400
3,249
Nil
Nil
18 months to
30/09/2019
£
183,268
6,896
2,081
192,245

No employee earned more than £60,000 during the year.

The average headcount of employees during the year was: 5 (2019: 7)

No trustee received remuneration or claimed expenses in the current or prior year and no expenses were waived.

The total employment benefits received by key management personnel were £28,163 (2019: £55,971)

15

Deki Limited

Notes to The Financial Statements

For the period ended 30 September 2020

6. Statement of Financial Activities - previous period

Statement of Financial Activities - previous period
Income from:
Donations
Investment Income
Total income
Expenditure on:
Raising funds
Charitable activities
Total
Net Movement in Funds
Transfer between funds
Total funds brought forward
Total funds carried forward		 Unrestricted
£
276,124
14
276,138
46,815
211,736
258,551
17,587
-
(16,911)		 Restricted
£
21,432
-
21,432
-
185,561
185,561
(164,129)
-
245,841
81,712		 18 months to
30/09/2019
Total
£
297,556
14
297,570
46,815
397,297
444,112
(146,542)
-
228,930
676 82,388

7. Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

8.
Tangible Fixed Assets
Cost
At 30 September 2019
Additions in year
At 30 September 2020
Depreciation
At 30 September 2019
Charge for the period
At 30 September 2020
Net Book Value
At 30 September 2020
At 30 September 2019		 Website
£
33,250
4,421
37,671
29,234
4,851
34,085
3,586
4,016		 Computers
£
1,404
-
1,404
962
442
1,404
-
442		 18 months to
30/09/2019
Total
£
34,654
4,421
39,075
30,196
5,293
35,489
3,586
4,458

16

Deki Limited Notes to the Financial Statements

For the period ended 30 September 2020

9.
Debtors
Trade debtors
Other Debtors & Prepayments
Amounts Owed by Field Partners
10.
Creditors : Amounts Due Within 1 Year
Trade Creditors
Other Creditors and Accruals
Loan Credit Held on Behalf of Lenders
Gift Certificates Outstanding
Tax and National Insurance
Bank loan
11.
Creditors : Amounts Due After More Than 1 Year
Bank loan
12.
Movement in Funds
B/fwd at
01/10/19
Income
£
£
Unrestricted Funds
676
69,742
Restricted funds
Microfinance Donations
81,712
24,744
Co-operatives
-
26,950
Total Restricted Funds
81,712
51,694
82,388
121,436
Movement in Funds - comparatives
B/fwd at
01/04/18
Income
£
£
Unrestricted Funds
(16,911)
276,138
Restricted funds
Microfinance Donations
245,841
21,432
228,930
297,570		 At 30/09/2020
At 30/09/2019
£
£
1,371
64
12,608
10,290
64,579
85,486
78,559
95,840
At 30/09/2020
At 30/09/2019
£
£
4,254
9,433
745
2,660
15,597
20,238
-
680
10,836
1,045
833
-
32,265
34,056
At 30/09/2020
At 30/09/2019
£
£
29,167
-
29,167
-
Expenditure
Transfer
C/Fwd at
30/09/20
£
£
£
(69,105)
(11,571)
(10,259)
(37,261)
-
69,195
(38,521)
11,571
-
(75,782)
11,571
69,195
(144,888)
(11,571)
58,936
Expenditure
Transfer
C/Fwd at
30/09/19
£
£
£
(258,551)
-
676
(185,561)
-
81,712
(444,112)
-
82,388		 At 30/09/2020
At 30/09/2019
£
£
1,371
64
12,608
10,290
64,579
85,486
78,559
95,840
At 30/09/2020
At 30/09/2019
£
£
4,254
9,433
745
2,660
15,597
20,238
-
680
10,836
1,045
833
-
32,265
34,056
At 30/09/2020
At 30/09/2019
£
£
29,167
-
29,167
-
Expenditure
Transfer
C/Fwd at
30/09/20
£
£
£
(69,105)
(11,571)
(10,259)
(37,261)
-
69,195
(38,521)
11,571
-
(75,782)
11,571
69,195
(144,888)
(11,571)
58,936
Expenditure
Transfer
C/Fwd at
30/09/19
£
£
£
(258,551)
-
676
(185,561)
-
81,712
(444,112)
-
82,388
-
C/Fwd at
30/09/20
£
(10,259)
69,195
-
69,195
58,936
C/Fwd at
30/09/19
£
676
81,712
82,388

Purpose of Restricted Funds

Microfinance Donations - Funds donated that are to be made available as microloans to individuals in Africa Co-operatives: grants received to support co-operatives in Africa.

17

Deki Limited Notes to the Financial Statements

For the period ended 30 September 2020

13. Analysis of Net Assets between Funds

Fixed Assets
Other Net Assets
Total Funds as at 30 September 2020
Analysis of Net Assets between Funds - comparatives
Fixed Assets
Other Net Assets
Total Funds as at 30 September 2019		 Unrestricted
Funds
3,586
(13,845)
(10,259)
Unrestricted
Funds
4,458
(3,782)
676		 Restricted
Funds -
Microfinance
donations
-
69,195
69,195
Restricted
Funds -
Microfinance
donations
-
81,712
81,712		 Total Funds
at 30/09/20
3,586
55,350
58,936
Total Funds
at 30/09/19
4,458
77,930
82,388

14. Ultimate controlling party

The Trustees as a body are the controlling party of the entity.

15. Going Concern

The Trustees have prepared these accounts on a going concern basis. While the unrestricted funds of the charity at 30 September 2020 were in deficit by £10,259 (2019: surplus of £676), this was a result of the challenging funding environment resulting from the global pandemic, and also because the impact of reductions in staffing and overheads only took effect during the financial year in question. As the leaner organisation is now able to live within its reduced means, the trustees have considered it appropriate to continue to adopt the going concern basis in preparing these financial statements. For further details, including assessment of the impact of the ongoing Covid-19 situation, please refer to the Trustees Report.

16. Key sources of estimation uncertainty

Estimation uncertainty exists in respect of the recoverable amount of the charity’s microfinance loan portfolio. In determining whether impairment is required, the trustees consider factors such as the contractual terms of the underlying loan agreements, historic rates of loan default in the territory and applicable local macroeconomic factors that could impact the ability to recover amounts advanced. The carrying value of the loan portfolio at the year-end was £2,271,495 (2018: £1,846,987).

18