2022-03-31-accounts

			Page
Reference and administrative		details ofthe Charity, its Trustees and advisers
Trustees' report			2-5
Independent	auditors' report	on the tinancial statements	6-9
Consolidated	statement offinancial activities		10
Consolidated	balance sheet
Charity balance sheet			12
Consolidated	statement ofcash flows		13
Notes tothe	financial statements		14-29

Trustees			Ms AJ Hindman	Ms AJ Hindman
			Mr W S G Smith
			Mr J Prabhay
Company	registered
number			07596900
Charity registered
number			1141552
Registered		office	73 Mount View	Road
			London
			N4 4SR
Company	secretary		Ms M C Phillips
Independent		auditors	Kreston Reeves		LLP
			Statutory Auditor		and Chartered	Accountants
			Second Floor
			166Shoreditch		High Street
			London
			E1 6RA
Bank			TSBBank
			Box 1
			BX47SB
			VFXPic
			65 Leadenhall	Street
			London
			EC3A 2AD
			TransferWise	Limited
			56Shoreditch	High Street
			London
			E16JJ

for the year ended 31 March 202	2
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Note	2022 6	2022 5	2022 8	2021f
Income from:
Donations and legacies		6,853	177,179	184,032	205,203
Other trading activities			456,724	456,724	481,173
Other investment income			14	14	105
Total income		6,853	633,917	640,770	686,481
Expenditure on:
Other trading activities			280,581	280,581	328,415
Charitable activities		185,724	60,391	246,115	213,714
Total expenditure		185,724	340,972	526,696	542,129
Net movement in funds		(178,871)	292,945	114,074	144,352
Reconciliation offunds:
Total funds brought forward		693,957	490,691	1,184,648	1,040,296
Net movement in funds		(178,871)	292,945	114,074	144,352
Total funds carried forward		515,086	783,636	1,298,722	1,184,646

as at 31 Nlarch 202	2
			Note		2022 6		2021f
Current assets
Debtors			14	828,899		367,110
Cash at bank and in hand				560,188		900,216
				1,389,087		1,267,326
Creditors: amounts	falling	due within one
year			15	(57,865)		(40,178)
Net current assets					1,331,222		1,227,148
Total assets less current		liabilities			1,331,222		1,227,146
Creditors: amounts	falling	due after more
than one year					(32,500)		(42,500)
Total net assets					1,298,722		1,184,646
Charity funds
Restdicted funds			17		783,636		490,691
Unrestricted funds			17		515,086		693,957
Total funds					1,298,722		1,184,646

Consolidated statement ofcash flows
for the year ended 31March 2022
				2022 f	2021
Cash flows from operating activities
Net cash used in operating activities				(371,011)	163,783
Cash flows from investing activities
Interest received				14	105
Net cash provided by investing activities				14	105
Cash flows from financing activities
Interest payable				873	(27)
Net cash provided by/(used in) financing		activities		873	(27)
Change in cash and cash equivalents	in the year			(370,124)	163,861
Cash and cash equivalents at the beginning		ofthe year		900,216	809,278
Change in cash and cash equivalents due to exchange			rate movements	30,096	(72,923)
Cash and cash equivalents at the end	of	the year		560,188	900,216
The notes on pages 14to 29 form part ofthese financial			statements

	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	2022 6	2022 6	2022f	2021f
Donations	6,853	144,479	151,332	17,741
Legacies		341	341	2,154
Grants		32,359	32,359	185,308
Total 2022	6,853	177,179	184,032	205,203
Total 2021	5	205,198	205,203

		Restricted	Total	Total
		funds	funds	funds
		2022	2022	2021
		6	6
Grant income		246,202	246,202	289,064
Corporate programme	income			105,427
Loan related activities		210,522	210,522	86,882
		456,724	456,724	481,173
Total 2021		481,173	481,173

			Restricted	Total	Total
			funds	funds	funds
			2022 6	2022 6	2021f
Other	interest	receivable	14		105
Total	2021		105	105

		Grant
		funding of	Support	Total	Total
		activities	costs	funds	funds
		2022	2022	2022	2021f
Kenyan and Ugandan	project costs	32,826	213,211	246,037	213,714
Foreign exchanges differences			78	78
		32,826	213,289	246,115	213,714
Total2021		23,135	190,579	213,714

			Charitable
			activities-	Other
			support	trading
			costs	expenses	Total	Total
			2022	2022	2022	2021f
In-country operating		costs		252,852	252,852	211,400
Loan loss expense				(12,505)	(12,505)	(10,334)
Volunteer programme		costs				15,699
Other project	costs			52,820	52,820	33,702
Head office costs			201,456	8,638	210,094	178,598
Governance	costs		11,754	7,850	19,604	16,954
Bank charges				1,097	1,097	52
Foreign exchange differences			78	(30,176)	(30,098)	72,923
			213,288	280,576	493,864	518,994
Total2021			190,579	328,4'l5	518,994

						Grants to	Total	.	Total
					Institutions		funds		funds
						2022 6	2022 8		2021 f
Love For All	Orphanage	(Nakuru,		Kenya)		32,826	32,826		23,135
Total 2021						23,135	23,135
Auditors' remuneration
							2022 8		2021f
Fees payable	to the Charity's		auditor		for the audit ofthe Charity's	annual
accounts							9,000		8,500
Fees payable	to the Charity's		auditor		in respect of:
All assurance	services	not included			above		6,500		6,000
All non-audit	services not included			above			900		2,454

Staffcosts
				Group	Group	Charity	Charity
				2022 f	2021 f	2022 F	2021f
Wages and	salaries			168,739	'/44, 401	168,739	144,401
Social security costs				15,523	12,948	15,523	12,948
Contribution	to defined	contribution	pension
schemes				10,080	5,875	10,080	5,875
				194,342	153,224	194,342	163,224
The average	number	ofpersons employed		by the Charity during	the year was as follows:
				Group	Group	Charity	Charily
				2022	2021	2022	2021
				No.	No.	No.	No.
UK management				3	3
Kenyan and	Ugandan	staff		14	15
				17	18	3

				Investments
				in subsidiary
				companies
Charity				E
Valuation
At 1 April 2021				461,284
At 31 March 2022				461,284
Net book value
At 31 March 2022				461,2&4
At31March 2021				461;264
Debtors
	Group	Group	Charity	Charity
	2022 K	2021	2022 R	2021f
Due after more than one year
Other debtors	239,701	103,468
	239,701	103,468
Due within one year
Trade debtors	29,321	65,628
Amounts owed by group undertakings			707,168	339,705
Other debtors	548,121	161,274
Prepayments and accrued income	11,756	36,740		24,760
	828,899	367,110	707,168	364,465

Schedule of	loa	ns receivable
			Group	Group
			2022	2021
			6
Loans receivable		at 1 April	255,505	196,264
Reclassifications
Loan additions	in	the year	867,369	332,748
Loan repayments		in the year	(372,692)	(235,644)
Loans written	off	in the year	(53,789)	(28,276)
(Increase)l decrease in loan loss provision			53,789	28,276
FXrevaluation	adjustments		29,932	(37,863)
			780,114	255,505

		Group	Group	Charity	Chanty
		2022	2021	2022	202f
			5	8
Bank loans		10,000	7,500
Trade creditors		27,683	148
Other creditors		1,624	1,288	1,608	1,041
Accruals and deferred	income	18,558	31,242	11,381	24,125
		57,865	40,178	12,989	25,155

Group	Group
2022	2021f
32,500	42,500

Statement offun	ds - current year
					Balance at
		Balance at 1			31 INarch
		April 2021	Income	Expenditure f	2022 f
Unrestricted funds
General fund		693,957	6,853	(185,724)	515,086
Restricted funds
Balloon Ventures	East Africa Fund	162,349	176,838	(60,391)	278,796
Balloon Ventures	Limited	328,342	457,079	(280,581)	504,840
		490,691	633,917	(340,972)	783,636
Total offunds		1,184,648	640,770	(526,696)	1,298,722
Statement offunds - prior year
					Balance at
		Balance at			31March
		1April 2020f	Income	Expenditure f	2021 f
Unrestricted funds
General fund		837,032	5	(143,080)	693,957
Restricted funds
Balloon Ventures	East Africa Fund	46,186	203044	(88881)	162,349
Balloon Ventures	Limited	157,078	483432	(312158)	328,342
		203,264	886,476	(399,049)	490,691
Totaloffunds		1,040,296	686,476	(542,129)	1,184,648

Summary	offunds - current y	ear
					Balance at
		Balance at 1			31March
		April 2021	Income	Expenditure	2022
		6	6	6	6
General funds		693,957	6,853	(185,724)	515,086
Restricted	funds	490,691	633,917	(340,972)	783,636
		1,184,648	640,770	(526,696)	1,298,722

Summary offunds - prior year
				Balance at
	Balance at			31March
	1April 2020	Income	Expenditure	2021f
General funds	837,032	5	(143,080)	693,957
Restricted funds	203,254	686,476	(399,049)	490,691
	1,040,296	686,481	(542,129)	1,184,648

Analysis Analysis	ofnet assets between funds ofnet assets between funds - current	year
		Unrestricted	Restricted	Total
		funds	funds	funds
		2022	2022	2022
		6	6	6
Debtors	due aRer more than one year		239,701	239,701
Current	assets	528,075	621,311	1,149,388
Creditors	due within one year	(12,989)	(44,876)	(57,865)
Creditors	due in more than one year		(32,500)	(32,500)
Total		515,086	783,636	1,298,722

20.	Reconciliation ofnet	Reconciliation ofnet	movement	movement	in funds	to net cash flow from operating	to net cash flow from operating	activities
								Group	Group
								2022 6	2021f
	Net income for the year (as per Statement					of Financial	Activities)	114,074	144,352
	Adjustments for:
	Increase in debtors							(835,133)	(130,862)
	Increase in creditors							443,367	77,448
	Foreign exchange differences							(30,096)	72,923
	Interest receivable							(14)	(105)
	Interest payable							873	27
	Net cash provided	by/(used		in)	operating	activities		(306,929)	163,783
21.	Analysis ofcash and		cash	equivalents
								Group	Group
								2022	2021
								6
	Cash in hand							560,188	900,216
	Total cash and cash		equivalents					560,188	900,216
22.	Analysis ofchanges		in net	debt
							At 1 April		At 31 INarch
							2021	Cash flows	2022
							6	8	6
	Cash at bank and in	hand					900,216	(340,028)	560,188
	Debt due within 1 year						(7,500)	(2,500)	(10,000)
	Debt due aRer 1 year						(42,500)	10,000	(32,500)
							850,216	(332,528)	517,688

under non	~nc	ellable operating leases as follows:
			Group	Group
			2022 8	2021f
Not later than		1year	7,201	7,238
Later than	1 year and not later than 5years		1,605	8,478
			8,806	15,716

Name			Company	Registered oflice or principal	Principal	activity	activity
			number	place ofbusiness
Balloon Ventures		Ltd	07940726	73 Mount View Road, London,	N4 Investing	in small
				4SR	businesses		in Kenya
					and Uganda
Class of	Holding
shares
Ordinary		100/o

Name			Income	Expenditure	Profitl(Loss)	Net assets
			E	6	ISurplus/	6
					(Degcit) for
					the year
					6
Balloon	Ventures	Ltd	655,344	405,392	249,952	257,446