Deki Limited Annual Accounts
October 2023 to September 2024
Charity Number: 1137047
Deki empowers communities to be resilient to poverty and the effects of climate change
Deki Ltd Annual Accounts | Oct 23 – Sept 24
Letter from Deki’s Founder and CEO
2024 celebrates 15 years of Deki, which I founded after being inspired by the journey of one girl, Deki Dolkha, a Tibetan refugee who crossed the Himalayas at the age of four in search of a better future.
Since our beginnings in 2009, Deki has grown from providing ethical microfinance to implementing a holistic, community-led approach to development. Reflecting on 15 years of impact, we have learned that sustainable progress lies in local ownership and leadership. This African proverb encapsulates this perfectly: “The wearer of the shoe knows where it hurts the most.”
The year 2024 was incredible, marked by significant impact. As a team of three women in the UK, working alongside over 50 team members in Togo, we are able to focus on where the team and community members feel the shoe hurts the most, and direct our efforts accordingly.
With this in mind, in 2024, we developed a three-year strategy outlining our vision for the future: to strengthen the capacity of our local partners, enabling all projects to achieve independence and long-term sustainability.
As a team, we feel immensely proud to be part of this journey and are grateful for your support. We are particularly grateful for our incredible partnership with IADES in Togo and the fantastic leadership provided by Christian Kadangah (pictured above). Their commitment to empowering rural communities is inspirational, and it is a pleasure to work with them towards our shared vision.
With gratitude,
Vashti Seth
Founder and CEO
Deki Ltd Annual Accounts | Oct 23 – Sept 24
1
What We Do
Deki Ltd Annual Accounts | Oct 23 – Sept 24
2
Deki’s Theory of Change
Deki Ltd Annual Accounts | Oct 23 – Sept 24
3
2024 IN NUMBERS... 1390 100 66 670 Q350.000 60 1649 192 49 Prod of Iwld soap Deki Ltd Annual Accounts l Oct 23- Sept 24
75.000 3.750 ~-°' people now hav8 access to safe water in Togo. as of 2024 health and sanitation in 250 communities 5Million -, firewoodl 50 50 13.263 Deki Ltd Annual Accounts l Oct 23- Sept 24
WORKING TOWARDS THE SDGS 13 AMT OUR STRATEGIC AIMS Deki Ltd Annual Accounts l Oct 23-Sept 24
AIM ONE: BUILD RESILIENT COMMUNITIES Dekl takes a holl•tk apweh to worklng wlth communltles, ensurong they can access essentlal servlces to bulld reslllence to povety and cllmats change. In November, we vlsfted a communlty near Notsé In Togo s Plateau reglon who have Implemented thls approactrL The Togo team consulted wlth the communty over the process of a year. rolllng (xrt several of Dekfs Inltlatlve* Includlng safe watef. cookstoV and farmlfva coopercrtlveL Afvlturnl Women H•th Educallon Deki Ltd Annual Accounts l Oct 23- Sept 24
AIM TWO: TRANSITION TO LOCAL LEADERSHIP Mawunyo lOMd 08 a coopera Dosplto Ihoso $8tback* tho rnemb•r8 two years ago. taklng out a loan to value the cooporatlve'8 sense ol teamwork purchase seeds for molze and and mutual supporL The women peanuts. Thelr first harvest was requested tralnlng In altematlve Incom successful, h<>wevw poor rolnfall In generating skS118 such as Ilqukl soap the secorKI ralny season rosutted In a productlorn to reduce thelr rellance on dlgoppointing harves¢ with many farming. Th•y also r8celvod training on crops falling. Water scarclty remalns preventlng gerKler-based vlolence arKI the o slgnltlcant challenge, but slnce then Importance ol chlldren attendlng school. Dekl have Supported tho coopwauve wlth trainlng on drought-r•sistant ed8 and Irrlgatknn practlces that help to conserve water. Dokl work• clOty wlth communftlas to dellver tallorod trolnlng that ompoww• local people arKI oddresso8 thelr •peclfic Deki Ltd Annual Accounts l Oct 23- Sept 24
AIM THREE: CREATE REPLICABLE IMPACT Ilnanclaly •u8talnabl• woJ•cts, •8tabll8hlng a loundatlon lof •callrva ourwof Th1• Ild•• cr•atkng mod•l• ol b••t woctk• that •n•ur• flnarKlal 0 oxarnple of a Successful repllcot>l• Doforestadon (YKI hanythil cartx)n model Is Dokfs Sato woject Wezou •mImkx In reducod ai famllles rK Um. Dekl rehabllltates b(xeholes (WKI k)ryer nood to ule open flros to purlty tabllshos mother cknbs to •ducat• ter. By reduckng harnful black smoke. women around 8anltatlw WASH and Dokl can clakn carbon credt4 whkh wlll the IrT¥>Ortanc8 ot keeping the th0kn be invested kn repkcatMvJ tho project area clean and tkty. Dekfs water project rt onty fvJhts poverty by enabllng rn0th and lamllles In Togo to feed their chlldf fe water and reclaim thelr tim4 txrt ghts cllmato change to kn 2024 reh(>llttated an lurther 50 boreholes brlnging our total to 250. brknging sale water to over 75,000 peopl•. 66 a lot lass tummy bugs and the chlkyren orn not os slck os much" 99 Deki Ltd Annual Accounts l Oct 23- Sept 24
CASE STUDY: ALATI MOTHER CLUB Mad• 4> ol two Cornnwrth•s - Alatl Ecol• aKI AgIOU Kpota In Notsé. plal•¢N r•gk Now that tholr boroholo Is functlonal th• Tho V+vmon emphaslsod how cruckl th080 momber• take groat wklo In malntalnlrva dl8cuuloM have been wlthln tholr IL Tho Mama Club •n•urM that th• corrwnunltles (md In thelr Interactlon• wlth •urrourKllng area IS kopt cle(m (XKI tldy. thelr hu•barKls partkularly cOnmIng Th8 WASH {Wat•r, Sanltatk)n, and vlol•nce agalnst K4any r•port•d Hygbon•) tralnlng was Ind to bo hlghly lIfleant change• In rn,$ bahavlour. wlth benefic Portlclp(mts attended *Mlons •om• nchy al$tIng wlth housohold cho on lafety storlry ter. cloanlng 8torag• and even lPIng to coll•ct wator. contalners propety. maklng Ilqukl goa and the IMportce of hanthvashlng The Alatl Mama Club con8lst8 of 25 membern from two nolghbouring vllloge& Thelr In addftlon to WASH tralnlrrfJ thls years borehole was rehat)ilitated in June 2024, sessk>ns focused on preventlng vk>len haviry been broken for over12 month& Thls agalnst women arKI chlldre had caused slgnlflcant hardshlp for th• Partlclpants leamed about the women, as they were forced to walk over 2 Importance of sendiThJ chlldron to school km to the darrk The water was often polluted rather than Involving them In fiel¢JWort and required boillrrtJ before use. Desplte their as well as the necessity of providing ottempts to rehabilitate the t)orehole sufficlent food and clothlng. They also themselves. they were unsuccesstul. The explored strategies to promote effecthi• dally trek rK>t onty exhausted them tt also famity communicatkKL took them frcxn thek famiing actlvltle Deki Ltd Annual Accounts l Oct 23- Sept 24 10
AIM FOUR: ENSURE STRONG GOVERNANCE AND LEADERSHIP all stokalKAdw IdItya partnors and local ccThmunltl•L At th• hrt of thls nmItm•nt Is 2024. plac•d partkukff on r•p(Ktr gofoguardlry wfthln t ¢onYNnltlo¥ whwo 0 proiocts are bosod As port of r tralnlrwa on p•rF•tratorn Folowkng congultatky vhlh hxal knpl•menting o d•dicat•d FioM lin• for rw>ortlrYJ sal•guardlry Incld•nt& •v•ry conynunlty wh•r• t)•kl op•ratK th• t•om dly•d wlth th• r•portlrq nurt)or arKI cl•or Instructhx on how to roh• a concwrL cxx Iaf•auordts t•am In Lomé cl(A•ty mordtors all colls and t•xt& •rUrIng thjt thom r•¢Kh cJt I•1¥0 th• Mc•Mory supporL Addltkmlty. all Togol• Itdl ptytsclpat• In (Thiwjl iol•war¢lw tralnlw to •nur• t undw8tond how to c(Yitrlbut• to k•eplng c(xYmunltl•s sal& Thh trolr4ng1g M(W0t Ic oll Deki Ltd Annual Accounts l Oct 23-Sept 24
AIM FIVE: DEVELOP ROBUST INCOME GENERATION STREAMS QIOO and n9 water Frlond talnablllty, • Ind•pend• r•knvest I can borg ftx a y•ar nd talkxed trol unltleg are the m•ans t mrNnl Imat• c Ilv•llhood¥. E mmunltkng arKI lfty of (I, Deki Ltd Annual Accounts l Oct 23- Sept 24 12
Thank you to our Funders
On behalf of the team at Deki, our partners at IADES in Togo, and Deki's trustees, we extend our heartfelt gratitude to our dedicated investors and contributors. Their unwavering support enables us to make a meaningful impact in communities and beyond, as outlined in these accounts. Your financial contributions have made a real difference to communities in Togo through the programmes we run. You can find out more in our 2024 Impact Report, which can be found on our website: - www.deki.org.uk/impact reports.
Together, we are creating positive change, empowering women, strengthening communities, and fostering hope. Thank you for standing with us as we work toward a better future for all.
Structure, Management & Governance
Deki was incorporated on 5 September 2008 as a company limited by guarantee, previously operating as a community interest company (CIC). In July 2010, recognising that Deki's activities aligned better with charitable objectives, the directors decided to transition from a CIC to a company limited by guarantee. On 23 July 2010, the company successfully obtained registered charity status.
The company is governed by its memorandum and articles of association dated 5 September 2008, as amended on 1 February 2010.
The charity is overseen by a Board of Trustees, comprising five members as of 30 September 2023.
The Trustees meet quarterly to oversee the charity's strategic direction and policies, contributing their time voluntarily without receiving benefits.
Day-to-day operations are delegated to a part-time staff team, including the Chief Executive Officer, Programmes and Partnership Manager, Business Development and Project Manager.
The Trustees strive to maintain a broad mix of skills across the Board. If a skills gap is identified, new Trustees are recruited via the Deki website and other relevant networks. Recruitment follows a formal process, requiring applicants to submit a CV and cover letter. Shortlisted candidates are invited for an interview.
Prospective Trustees are invited to attend a Board meeting as observers before their trusteeship is confirmed. They are provided with the charity’s memorandum and articles of association, the most recent accounts, and the Charity Commission publication CC3 – The Essential Trustee .
Deki Ltd Annual Accounts | Oct 23 – Sept 24
13
Risk Management
Deki’s Trustees acknowledge their overall responsibility for the efficient operation of the charity and their duty to review risks to which the charity is exposed, implementing effective risk management procedures. Risk management is integrated into the charity’s trustee reporting framework and is regularly discussed during Board meetings.
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 and Whistleblowing
We are committed to protecting all children and adults from all forms of abuse, expecting everyone in our organisation to share this commitment. Two references are requested for every staff and volunteer member, and we reserve the right to request a Disclosure and Barring Service (DBS) check where appropriate.
We have a dedicated Risk and Safeguarding Trustee, and safeguarding officers in both the UK and Togo, who review our safeguarding policies annually.
Deki promotes a culture of honesty and integrity. Team members are encouraged to report suspected wrongdoing promptly, ensuring confidentiality and protection from reprisals. Clear guidance is provided for raising concerns in good faith.
We prioritise safeguarding in all communities where Deki operates. Posters with reporting numbers and clear instructions are displayed, and our Lomé-based safeguarding team monitors all calls and texts, providing necessary support.
Annual safeguarding training is mandatory for all Togolese staff, contractors, and external partners to ensure they contribute to community safety.
The safeguarding officer visits communities regularly, fostering trust, encouraging beneficiaries to express concerns openly, with reassurance that all reports will be treated seriously and without fear of reprisals.
Financial Review
Deki recorded a surplus of £89,117 on unrestricted funds in the past year. Free reserves at year-end were £150,235.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
14
The Board of Trustees aims to maintain unrestricted reserves equivalent to three months' expenditure. Based on 2023-24 spending of £270,845 this target equates to a minimum unrestricted cash reserve of £30,000.
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 spending of £138,000 on such costs in 2024-25, we aim to have unrestricted cash reserves of at least £34,500.
Restricted funds
Deki has £57,664 restricted for lending (2023 £56,090). These funds are managed by Deki and relent once repaid by the Deki entrepreneurs. These funds will not be withdrawn or spent. The funds may reduce due to fluctuations in exchange rates when loans are repaid. This may also be reduced on non-repayment of loans by beneficiaries.
Additionally, restricted funds support our Safe Water Project in Togo.
Remuneration Policy
Deki ensures staff are fairly paid to attract and retain talent necessary to achieve its charitable objectives. As per the Charities SORP 2015 (FRS 102), the Companies Act 2006, and the Charities Act 2011, Deki discloses the following:
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Payments to Trustees (none received remuneration, although reasonable expenses may be claimed).
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The number of staff earning over £60,000 annually (in £10,000 bands).
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Pensions and other benefits.
The remuneration policy aims to provide incentives for enhanced performance while remaining sensitive to external benchmarks. No staff member earned more than £60,000 in the past year.
Interns are fairly compensated, with all employees earning at least the living wage.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
15
Sub-Committees and Advisory Groups
Deki has three committees and advisory groups: the Audit, Finance and Risk Committee, the International Programmes Advisory Group, and the Business Development Advisory Group. Each group operates under terms of reference set by the Board and meets approximately every 12 weeks.
Management Structure
The Trustees employ a salaried Chief Executive to manage the organisation and implement strategic objectives. The Chief Executive oversees the Programmes and Partnership Manager and Business Development Manager.
Statutory Information
Company Number : 6689965 Charity Number : 1137047
Registered Office : 1-3 Gloucester Rd, Bristol, BS7 8AA
Trustees
The Trustees serving during the year and at the report's date were as follows:
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Consulota Price OBE (Chair, appointed 11 November 2020, Resigned 17 April 2024)
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Simon Rimmer (Treasurer, appointed 25 November 2019)
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Max Niño-Zarazúa (appointed 6 November 2016)
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Mark Burchfield (appointed 25 November 2019)
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Sarah Cooper (appointed 8 May 2024)
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Silvia Van Den Bruel (appointed 8 May 2024)
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Richard Tidswell (appointed 25 November 2019, Resigned 25 April 2024)
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Valentine Granet (appointed 11 November 2020, Resigned 17 April 2024)
Deki Ltd Annual Accounts | Oct 23 – Sept 24
16
Statement of Trustees’ Responsibilities
The Trustees (also directors of Deki Limited for company law purposes) are responsible for preparing the Trustees’ Report and financial statements in compliance with UK law and Accounting Standards, including FRS 102.
In preparing the financial statements, Trustees are required to:
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Select suitable accounting policies and apply them consistently.
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Observe the principles set out in the Charities SORP.
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Make reasonable and prudent judgements and estimates.
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Confirm adherence to UK Accounting Standards.
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Prepare financial statements on a going concern basis, unless it is inappropriate.
The Trustees are responsible for maintaining adequate accounting records and safeguarding the charity’s assets.
Approved by the Board of Trustees on 27[th] March 2025 and signed on their behalf by:
Simon Rimmer Treasurer
Deki Ltd Annual Accounts | Oct 23 – Sept 24
17
Independent Examiner's report to the trustees of Deki
I report on the accounts of the company for the year ended 30th September 2024 which are set out on pages 19 to 27.
Responsibilities and basis of report
As the charity 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 company’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
Since the company’s income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified because I am a member of the Institute of Chartered Accountants England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 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 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
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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)].
Emphasis of matter
As explained in notes 15 and 16, the trustees have made note of their concerns respectively about going concern and the future of the activities of the charity, and the nature of the partner organisation that provides micro credit in Togo.
I have no other 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.
Dick Maule FCA The Cross House South Woodchester GL5 5EL
Date: 31/03/2025
Deki Ltd Annual Accounts | Oct 23 – Sept 24
18
Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the year ended 30 September 2024
| Note Income from: Donations and fundraising 2 Investment income Income from charitable activities 2 Total income Expenditure on: Raising funds 3 Charitable activities 3 Total expenditure Net income/[expenditure] Reconciliation of funds Net income and movement in funds Transfers between funds 12 Total funds brought forward 12 Total funds carried forward 12 |
Unrestricte d £ 345,483 234 14,246 359,962 44,486 226,360 270,845 89,117 89,117 1,150 59,968 150,235 |
Restricted £ 23,970 - 118,759 142,729 - 140,006 140,006 2,724 2,724 (1,150) 56,090 57,664 |
Yearto 30/09/2024 Total £ 369,453 234 133,005 502,691 44,486 366,366 410,851 91,840 91,840 - 116,059 207,899 |
Yearto 30/09/2023 Total £ 184,544 112 205,727 390,382 21,460 327,534 |
|---|---|---|---|---|
| 348,995 41,388 |
||||
| 41,388 - 74,671 116,059 |
||||
Fund Comparatives are shown in note 6.
The notes on pages 20 to 24 form part of these financial statements.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
19
As at 30 September 2024
Company No: 6689965
Balance Sheet
| As at 30 September 2024ptember 2024tember 2024 | Company No: 6689965pany No: 6689965any No: 6689965y No: 6689965No: 6689965 | Company No: 6689965pany No: 6689965any No: 6689965y No: 6689965No: 6689965 | ||
|---|---|---|---|---|
| 30/09/2024 | 30/09/2023 | |||
| Note | £ | £ | £ | |
| Fixed Assets | ||||
| Tangible Fixed Assets | 8 | - | - | |
| Current Assets | ||||
| Debtors | 9 | 238,342 | 169,182 | |
| Cash at Bank and in Hand | 111,842 | 18,790 | ||
| 350,183 | 187,973 | |||
| Creditors: Amounts Due Within 1 Year | 10 | 125,518 | 51,119 | |
| Net Current Assets | 224,665 | 136,854 | ||
| Creditors: Amounts Due After More Than 1 | 11 | (16,767) | (20,795) | |
| Year | ||||
| Net Assets | 207,899 | 116,058 | ||
| Funds | ||||
| Restricted Funds | 12, 13 | 57,664 | 56,090 | |
| Unrestricted Funds: | ||||
| General Funds | 12, 13 | 150,235 | 59,968 | |
| Total Funds | 207,899 | 116,058 |
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For the period ending 30th September 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
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The charity has opted for an Independent Examination of its accounts to ensure
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proper accounting of all funds, accurate record-keeping, and compliance with accounting requirements in its financial statements.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Directors on 27[th] March 2025 and signed on their behalf by
Simon Rimmer
The notes on pages 20 to 24 form part of these financial statements.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
20
Notes to the Financial Statements For the year ended 30 September 2024
1. Accounting Policies
a) Basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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) as updated by Update Bulletin 2, and the Charities Act
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.
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b) Income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
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c) Revenue grants are credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless they relate to a specific future period, in which case they are deferred.
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d) Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
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e) Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of resource usage.
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f) Raising funds include those costs associated with fundraising, including events.
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g) Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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h) Governance costs relate to the statutory and regulatory costs of running the charity, such as the statutory accounts and board expenses. Governance costs are included within support costs.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
Notes to the Financial Statements (continued) For the year ended 30 September 2024
- i) Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition.
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.
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j) Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the SOFA.
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k) Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
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l) Unrestricted funds are donations and other income received or generated for the charitable purposes.
2. Grants and donations
| Grants and donations | |||||
|---|---|---|---|---|---|
| Income from donations Donations from Lenders Covid relief grants Trusts and foundations Other Grants and Donations Gift Aid Total grants and donations Income from charitable activities Income from contracts for the supply of services CO2 Balance |
Unrestrict ed 1,705 - 275,349 65,610 2,818 345,483 14,246 |
Restricted £ - - - 23,970 - 23,970 118,759 |
Year to 30/09/202 4 Total £ 1,705 - 275,349 89,580 2,818 369,453 133,005 |
Year to 30/09/202 3 Total £ - - 166,458 12,703 5,383 |
|
| 184,544 | |||||
| 205,727 |
The charity received no government grants for Covid relief this year or the prior year.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
22
Notes to the Financial Statements (continued) For the year ended 30 September 2024
| 3. Total Expenditure Charitable Activites Salaries & Wages (Note 5) Travel IT Costs Rent Office Costs Projects Miscellaneous Bookkeeping & Accountancy Bank charges & loan interest Depreciation Training Provision for loan defaults Foreign Exchange Loss Raising Funds Marketing and business Wages & Salaries (Note 5) Other fundraising costs Total Expenditure |
Direct costs £ 65,413 7,909 - - - 256,045 - - - - 1,679 902 5,664 5,769 37,211 1,505 382,099 |
Support costs £ 6,943 - 2,442 9,962 1,244 - 1,548 6,614 - - - - - - - - 28,752 |
Year to 30/09/2024 Total £ 72,356 7,909 2,442 9,962 1,244 256,045 1,548 6,614 - - 1,679 902 5,664 5,769 37,211 1,505 410,851 |
Year to 30/09/2023 Total £ 77,298 6,408 4,055 8,231 565 221,782 811 5,135 1,003 - 31 (467) 2,683 789 18,182 2,489 |
|---|---|---|---|---|
| 348,995 |
The total of governance costs for the year were £575 (2023: £525).
4. Net Income/(Expenditure)
| 4. Net Income/(Expenditure) | ||
|---|---|---|
This is stated after charging: Independent Examiner's Fee 5. Staff Costs and Numbers Staff costs were as follows: Salaries and Wages Employer's National Insurance Employer pensions |
Year to 30/09/2024 £ 575 |
Year to 30/09/2023 £ 525 |
| Year to 30/09/2024 £ 107,360 - 2,208 109,568 |
Year to 30/09/2023 £ 90,317 3,065 2,098 |
|
| 95,480 |
No employee earned more than £60,000 during the year (2023 nil).
The average number of employees during the year was 3 (2023: 3) and the full time equivalent 2.1 (2023: 2.1)
No trustee received remuneration or claimed expenses in the current or prior year and no expenses were waived.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
23
Notes to the Financial Statements (continued)
For the year ended 30 September 2024
6. Statement of Financial Activities - previous period
| Year to 30/09/2023 Unrestricted Restricted Total £ £ £ Income from: Donations 147,656 36,887 184,544 Investment Income 112 - 112 Income from charitable activities 26,154 179,573 205,727 Total income 173,922 216,460 390,383 Expenditure on: Raising funds 21,460 - 21,460 Charitable activities 71,795 255,740 327,534 Total 93,255 255,740 348,995 Net Movement in Funds 80,668 (39,280) 41,388 Transfer between funds (30,805) 30,805 - Total funds brought forward 10,106 64,565 74,671 Total funds carried forward 59,969 56,090 116,059 |
Restricted £ 36,887 - 179,573 |
Year to 30/09/2023 Total £ 184,544 112 205,727 |
|---|---|---|
| 216,460 | 390,383 | |
| - 255,740 |
21,460 327,534 |
|
| 255,740 | 348,995 | |
| (39,280) 30,805 |
41,388 - |
|
| 64,565 |
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 2023 Additions in year At 30 September 2024 Depreciation At 30 September 2023 Charge for the period At 30 September 2024 Net Book Value At 30 September 2024 At 30 September 2023 |
Website £ 37,671 - 37,671 37,671 - 37,671 - - |
Year to 30/09/2024 Computers Total £ £ 1,404 39,075 - - |
Year to 30/09/2024 Computers Total £ £ 1,404 39,075 - - |
|---|---|---|---|
| 1,404 | 39,075 | ||
| 1,404 - |
39,075 - |
||
| 1,404 | 39,075 | ||
| - | - | ||
| - | - |
Deki Ltd Annual Accounts | Oct 23 – Sept 24
24
Notes to the Financial Statements (continued) For the year ended 30 September 2024
9. Debtors
| 9. Debtors | ||||
|---|---|---|---|---|
| Sundry Debtors & Prepayments Microfinance Lending Fund 10. Creditors : Amounts Due Within 1 Year Trade Creditors Other Creditors and Accruals Loan Credit Held on Behalf of Lenders Bad Debt Provision Tax and National Insurance Bank loan 11. Creditors : Amounts Due After More Than 1 Year Bank loan 12.Movement in Funds B/fwd at 01/10/23 Income £ £ Unrestricted Funds 59,968 359,962 Restricted funds Microfinance Donations 56,090 23,970 Clean Water Project - 118,759 Total Restricted Funds 56,090 142,729 116,058 502,691 Movement in Funds - comparative s B/fwd at 01/10/22 £ Income £ Unrestricted Funds 10,106 173,922 Restricted funds Microfinance Donations 64,565 36,887 Clean Water Project - 179,573 Total Restricted Funds 64,565 216,460 74,671 390,382 |
Expenditure £ (270,845) (23,068) (116,938) (140,006) (410,851) Expenditure £ (93,255) (45,362) (210,378) (255,740) (348,995) |
30/09/2024 £ 514 237,827 238,342 30/09/2024 £ 8,233 108,301 - 3,600 2,384 3,000 |
30/09/2023 £ 451 168,731 169,182 30/09/2023 £ - 42,177 94 3,600 2,248 3,000 51,119 30/09/2023 £ 20,795 20,795 30/09/24 £ 150,235 56,992 672 57,664 207,899 C/Fwd at 30/09/23 £ 59,968 56,090 56,090 116,058 |
|
| 125,518 | ||||
| 30/09/2024 £ 16,767 16,767 |
||||
| Transfer £ 1,150 - (1,150) (1,150) - |
||||
| Transfer £ (30,805) - 30,805 |
||||
| 30,805 - |
Deki Ltd Annual Accounts | Oct 23 – Sept 24
25
Notes to the Financial Statements (continued) For the year ended 30 September 2024
Restricted Funds
Microfinance Donations: funds donated that are to be made available as microloans to individuals in AfricaClean Water Project: implementing and maintaining a Gold Standard Safe Water Supply Project in Togo. Big Give Appeal: public donations raised for the Agricultural Cooperative Project.
Internships: funding received to pay the salaries of interns.
Co-operatives: grants received to support co-operatives in Togo.
| 12. Analysis of Net Assets between Funds Fixed Assets Other Net Assets Total Funds as at 30 September 2024 Analysis of Net Assets between Funds - comparatives Fixed Assets Other Net Assets Total Funds as at 30 September 2023 |
Unrestricted Funds - 150,235 150,235 Unrestricted Funds - 59,968 59,968 |
Restricte d Funds - Microfinanc e donations - 57,664 57,664 Restricte d Funds - Microfinanc e donations - 56,090 56,090 |
Total Funds at 30/09/24 - 207,899 207,899 Total Funds at 30/09/23 - 116,058 116,058 |
|---|---|---|---|
13. Ultimate controlling party
The Trustees as a body are the controlling party of the entity.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
26
Notes to the Financial Statements (continued) For the year ended 30 September 2024
14. Going Concern
The Trustees have prepared these accounts on a going concern basis. The unrestricted funds of the charity at 30 September 2024 were in surplus by £150,235 (2023: £59,968) which is alignment with our reserves policy. Expenditure is budgeted carefully in line with available funding. Therefore the trustees consider it appropriate to continue to adopt the going concern basis in preparing these financial statements. For further details please refer to the Trustees Report.
15. 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. On this basis, the trustees have considered it prudent to provide for defaults of 5% of the loan capital held in the field.
Deki Ltd Annual Accounts | Oct 23 – Sept 24
27