2023-03-31-accounts

				Page
Reference and administrative			details ofthe Charity, its Trustees and advisers
Trustees' report				2-5
Independent	auditors'	report	on the financial statements	6-9
Consolidated	statement offinancial activities			10
Consolidated	balance	sheet
Charity balance sheet				12
Consolidated	statement ofcash flows			13
Notes to the	financial	statements		14-30

for the year ended 31 March 202	3
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Note	2023f	2023	2023	2022f
Income from:
Donations and legacies		3,704	858,339	862,043	184,032
Other trading activities			572,125	572,125	456,724
Other investment income			30	30	14
Other income		9,227	1,573	10,800
Total income		12,931	1,432,067	1,444;998	640,770
Expenditure on:
Other trading activities		443	520,326	520,769	280,581
Charitable activities		102,502	83,412	185,914	246,115
Total expenditure		102,945	603,738	706,683	526,696
Net movement in funds		(90,014)	828,329	738,315	114,074
Reconciliation offunds:
Total funds brought forward		515,086	783,636	1,298,722	1,184,648
Net movement in funds		(90,014)	828,329	738,315	114,074
Total funds carried forward		425,072	1,611,965	2,037,037	1,298,722

as at 31 March 202	3
				2023		2022
		Note
Tangible assets		14		32,948
Current assets
Debtors		16	1,907,464		828,899
Cash at bank and in hand			769,605		560,188
			2,677,069		1,389,087
Creditors: amounts	falling due within one
year		17	(44,093)		(57,865)
Net current assets				2,632,976		1,331,222
Total assets less current liabilities				2,665,924		1,331,222
Creditors: amounts	falling due after more
than one year				(628,887)		(32,500)
Total net assets				2,037,037		1,298,722
Charity funds
Restricted funds		19		1,611,965		783,636
Unrestricted funds		19		425,072		515,086
Total funds				2,037,037		1,298,722

for the year ended 31 Mar		h 2023
							2023	2022
						Note	f.
Cash flows from operating		activities
Net cash used in operating	activities					22	294,051	(371,011)
Cash flows from investing		activities
Purchase oftangible fixed assets							(37,514)
Interest received							30	14
Net cash (used in)/provided		by investing			activities		(37,484)	14
Cash flows from financing		activities
Interest payable							(8,319)	873
Net cash (used in)/provided		by financing			activities		(8,319)	873
Change in cash and cash		equivalents		in	the year		248,248	(370,124)
Cash and cash equivalents		at the beginning			ofthe year		560,188	900,216
Change in cash and cash equivalents			due to exchange rate movements				(38,831)	30,096
Cash and cash equivalents		at the end		ofthe year			769,605	560,188

			Restricted	Total	Total
			funds	funds	funds
			2023	2023	2022
Grant	income		199,593	199,593	246,202
Loan	related	activities	372,532	372,532	210,522
			572,125	572,125	456,724
Total	2022		456,724	456,724

			Restricted	Total	Total
			funds	funds	funds
			2023	2023	2022
Other	interest	receivable	30	30	14
Total	2022		14	14

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2023	2023	2023	2022
			f.
Other	operating	income	9,227	1,573	10,800

			Grant
			funding of		Support	Total	Total
			activities		costs	funds	funds
			2023		2023	2023	2022
Kenyan and Ugandan		project costs	1,979		183,935	185,914	246,037
Foreign exchanges	differences						78
			1,979		183,935	185,914	246,115
Total 2022			32,826	'	213,289	246,115

		Charitable
		activities-	Other
		sUpport	trading
		costs	expenses	Total	Total
		2023	2023	2023	2022
			E
In-country operating costs			353,084	353,084	252,852
Loan loss expense			39,889	39,889	(12,505)
Other project	costs	1,979	2,406	4,385	52,820
Head office costs		171,641	18,376	190,017	210,094
Governance	costs	12,294	8,900	21,194	19,604
Bank charges			8,319	8,319	1,097
Foreign exchange differences			38,831	38,831	(30,098)
Research and development			50,964	50,964
		185,914	520,769	706,683	493,864
Total 2022		213,288	280,576	493,864

						Grants to	Total	Total
					Institutions		funds	funds
						2023	2023f	2022
Love For All	Orphanage	(Nakuru,		Kenya)		1,979	1,979	32,826
Total 2022						32,826	32,826
Auditors' remuneration
							2023	2022
Fees payable	to the Charity's		auditor		for the audit ofthe Charity's	annual
accounts							10,500	9,000
Fees payable	to the Charity's		auditor		in respect of:
All assurance	services	not included			above		7,500	6,500
All non-audit	services not included			above			1,000	900

				Group	Group	Charity	Charity
				2023	2022	2023	2022
				R		R
Wages and	salaries			377,&36	319,447	141,149	168,739
Social security costs				12,607	15,523	12,607	15,523
Contribution	to defined	contribution	pension
schemes				8,445	10,080	8,445	10,080
				398,888	345,050	162,201	194,342

		Group	Group	Charity	Charity
		2023	2022	2023	2022
		No.	No.	No.	No.
UK management		2	3
Kenyan and Ugandan	staff	18	14
		20	17

Group	Group
2023	2022
No.	No.

		Motor	Computer
		vehicles	equipmentf	Total
	Cost or valuation
	Additions	22,286	15,228	37,514
	At 31 March 2023	22,286	15,228	37,514
	Depreciation
	Charge for the year	2,649	1,917	4,566
	At 31 March 2023	2,649	1,917	4,566
	Net book value
	At 31 March 2023	19,637	13311	32,948
	At 31March 2022
15.	Fixed asset investments
				Investments
				in subsidiary
				companies
	Charity			R
	Valuation
	At 1 April 2022			461,284
	Additions			523„434
	At 31 March 2023			984,718
	Net book value
	At 31 March 2023			984,718
	At 31March 2022			461,284

		Group	Group	Charity	Charity
		2023	2022	2023 R	2022f
Due after more than one year
Other debtors		449,498	239,701
		449,498	239,701
Due within one year
Trade debtors			29,321
Amounts owed by group undertakings				1,066,780	707,168
Other debtors		1,434,740	548,121
Prepayments	and accrued income	23,226	11,756
		1,907,464	828,899	1,066,780	707,168

		Group	Group
		2023	2022
Loans receivable	at 1 April	780,114	255,505
Reclassifications
Loan additions in	the year	2,114,398	867,369
Loan repayments	in the year	(935,734)	(372,692)
Loans written off	in the year	(38,704)	(53,789)
(Increase)l decrease in loan loss provision		(1,184)	53,789
FX revaluation adjustments		(40,240)	29,932
		1,878,650	780,114

		Group	Group	Charity	Charity
		2023	2022	2023	2022
				R
Bank loans		10,000	10,000
Trade creditors		8,018	27,683
Other creditors		1,233	1,624	1233	1,608
Accruals and deferred	income	24,842	18,558	10,500	11,381
		44,093	57,865	11733	12,989

Credi	tors: Amounts falling due after more t	han one year
		Group	Group
		2023	2022f
Bank	loans	628,887	32,500

Included within the above are amounts falling due as fol	lows:
	Group	Group
	2023	2022
	R
Between one and two years
Bank loans	10,000	10,000
Between two and five years
Bank loans	618,887	22,500
Over five years

Statement offun	ds - current year
					Balance at
		Balance at 1			31 March
		April 2022	Income	Expenditure	2023
Unrestricted funds
General fund		515,086	12,931	(102,945)	425,072
Restricted funds
Balloon Ventures	East Africa Fund	278,796	858,339	(83,412)	1,053,723
Balloon Ventures	Limited	504,840	573,728	(520,326)	558,242
		783,636	1,432,067	(603,738)	1,611,965
Total offunds		1,298,722	1,444,998	(706,683)	2,037,037
Statement offunds - prior year
					Balance at
		Balance at			31March
		1April 2021	Income	Expenditure	2022
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

Summary offunds - current y	ear
				Balance at
	Balance at 1			31 March
	April 2022	Income	Expenditure	2023
General funds	515,086	12,931	(102,945)	425,072
Restricted funds	783,636	1,432,067	(603,738)	1,611,965
	1,298,722	1,444,998	(706,683)	2,037,037

Summary offunds - prior year
				Balance at
	Balance at			31March
	1April 2021	Income	Expenditure	2022
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

Analysis	ofnet assets between funds -current	year
		Unrestricted	Restricted	Total
		funds	funds	funds
		2023	2023	2023
			R
Tangible	fixed assets		32,948	32,948
Debtors	due after more than one year	(29,746)	479,244	449,498
Current	assets	466,551	1,761,020	2,227,571
Creditors	due within one year	(11,733)	(32,360)	(44,093)
Creditors	due in more than one year		(628,887)	(628,887)
Total		425,072	1,611,965	2,037,037

						Group		Group
						2023f		2022
	Net income for the year (as per Statement				of Financial Activities)	738,315		114,074
	Adjustments for:
	Depreciation charges					4,566
	Increase in debtors					(1,078,565)		(835,133)
	Increase in creditors					582,615		443,367
	Foreign exchange differences					38,831		(30,096)
	Interest receivable					(30)		(14)
	Interest payable					8,319		873
	Net cash provided	by/(used		in) operating	activities	294,051		(306,929)
23.	Analysis ofcash and		cash	equivalents
						Group		Group
						2023		2022
							'
	Cash in hand					769,605		560,188
	Total cash and cash		equivalents			769,605		560,188
24.	Analysis ofchanges		in net	debt

			At 1 April		At 31 March
			2022	Cash flows	2023
				R
			K
Cash	at bank and	in hand	560,188	209,417	769,605
Debt	due within 1	year	(10,000)		(10,000)
Debt	due after 1 year		(32,500)	(596,387)	(628,887)
			517,688	(386,970)	130,718

under non-	can	cellable operating leases as follows:
			Group	Group
			2023	2022
Not later than		1 year	7,258	7,201
Later than	1 year and not later than 5years		20,246	1,605
			27,504	8,806

The following	was	a subsidi	ary undertaking o	ary undertaking o	fthe Charity	fthe Charity
Name			Company		Registered		office or principal		Principal	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		'I00%
The financial	results ofthe		subsidiary	for the	year were:
Name					Income	Expenditure		Profitl(Loss)		Net		assets
								I Surplus/				R
								(Deficit) for
								the year
Balloon Ventures		Ltd			635,725		445,900		38,438		780,880