Annual Report and Accounts for the Year Ended 31 December 2023
COMPANY INFORMATION
Friends of Ibba Girls School, South Sudan is a charitable company limited by guarantee. Registered in England, company number 7874206 and charity number 1146220, registered address 77 Styvechale Avenue, Coventry, West Midlands, CV5 6DW.
Trustees
Oliver Badger (from 7 March 2023)
Margaret Eddershaw
Justin Gordon-Muortat
Sarah Harding (Treasurer; from 11 April 2024)
Professor Jean Hartley David Lewis (Chair; to 3 July 2024) Julie Lodrick (to 19 April 2024)
Dame Rosalind Marsden
Mark O’Donoghue (to 9 May 2024)
Hugh Paget (Company Secretary)
Julia Sanders
Christopher Trott (Chair; from 23 June 2024)
Vice-Presidents
Emeritus Professor John Benington CBE
Lord Michael Bichard
Baroness Estelle Morris
Rev Michael Paget-Wilkes
Rev Dr Margaret Sentamu
Bankers
Co-operative Bank, PO Box 101, 1 Balloon Street, Manchester M60 4EP
Independent Examiner
Tosin Adegun CPFA, ACMA CGMA
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Trustees’ Report
Structure, Governance & Purpose
Friends of Ibba Girls’ School, South Sudan (FIGS) is registered with the Charity Commission for England and Wales as a charitable trust (registration number 1146220). It is also registered as a company limited by guarantee (registration number 7874206). The governing document is the Memorandum and Articles of Association, dated 30 November 2011, under which the first FIGS trustees were appointed.
The charity's objects are, for the public benefit: the advancement of education in particular (but without limitation) by providing financial and other forms of support for the building, establishment and running of a girls’ school in Ibba, South Sudan, to provide high quality education rooted in Christian values; to provide funding and such other forms of support to enable access for children of all faiths (and none), whatever their background, status or finances; to provide funding for residential facilities so that the school may serve the needs not only of Ibba village and Ibba County, but Western Equatoria State as well; and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected to the charitable work of the charity as the trustees may from time to time think fit.
Friends of Ibba Girls School, South Sudan, was established in 2011 in response to a specific request from local community leaders to help them build and develop a boarding school for girls, enabling them to access high quality primary and secondary school education, in a country where few girls get education beyond the age of 10. Ibba Girls Boarding School (IGBS) now educates 360 primary and secondary students and employs 40 staff (teachers, matrons, cooks and other support staff). The school is based on a large, green campus and provides not only high-quality teaching and learning, but also is a visible demonstration of the benefits of girls’ school education. FIGS is a relatively small organization but its work with IGBS is making an impact as a beacon school which offers a model of good quality girls schooling across South Sudan. FIGS continues to provide the majority of the school’s funding, as well as providing professional and organisational advice. It has commissioned Windle Trust International (registered charity number 1092834) as its agent in South Sudan to provide technical, financial and managerial assistance to the school.
WTI has more than 30 years’ experience of educational and development work in eastern Africa, including in both Sudan and South Sudan. They have both South Sudan and UK based staff. WTI have been appointed to work in partnership with FIGS, with IGBS Trustees, and with the Head Teacher and staff of IGBS, as a managing and implementing partner.
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IGBS is a community school (not a private school or a government school). It opened in 2014 and since then has consistently provided a safe and secure learning environment for girls from across the whole of Western Equatoria State. Students are welcomed regardless of family background, with no educational fees but a small contribution from their families towards the girls’ living costs. As a boarding school, IGBS enables girls to learn and play, free from family domestic duties or the risk of early or forced marriage and without having to daily walk long distances between home and school.
The school is widely recognised and appreciated in South Sudan and has built an excellent reputation at local, state and national levels. This led to a significant move in December 2022, when the South Sudan National Government Minister of General Education and Instruction, Hon. Awut Deng, signed a legally binding Ministerial Order to protect, in perpetuity, the land, buildings and assets of IGBS for continued use as a community boarding school, as an educational resource for the whole of Western Equatoria State and eventually for South Sudan as a whole. The Ministry, early in 2023, signed Memoranda of Understanding with IGBS Trustees, and with FIGS Trustees, along with Windle Trust International (WTI).
Under this new arrangement, instituted in March 2023, FIGS and IGBS Trustees continue to be responsible for guarding, developing, and promoting the vision, values and strategy for the school; holding the land and buildings and other assets in trust for the school; and for the selection of the IGBS head teacher and senior management team. The Board of IGBS Trustees is led by a senior local Zande leader, Archbishop Samuel Peni, and includes several senior African leaders from the State government, community elders and the local teacher training college. The IGBS trustees delegate specific responsibilities to the local Board of Governors, the Parent Teacher Association and the senior management staff.
The school Board of Governors meets once a term. Representatives from the FIGS trustees join if they are visiting the school at the time.
The objectives of Ibba Girls Boarding School (IGBS), as expressed in its 2014 founding legal Constitution, are:
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to provide high quality education rooted in Christian values, open and welcoming to people of all faiths and none, whatever their background or status;
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to focus on girls through nine years of schooling, from Primary 4 to Primary 8 and then Senior 1 to Senior 4, to bridge between primary and secondary school and reduce dropout from school, because this transition is where, nationally, drop-out rates are highest;
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to provide residential education, to make it possible for girls from the catchment area of the whole of Western Equatoria State to attend, and to study safely, shielded from competing demands for their attention;
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to foster learning both with “the pen and the hoe”, combining academic knowledge with a wide range of vocational and life skills such as personal, social, health and economic (PSHE) education, agriculture, sport, debating, drama and music;
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to prepare pupils to contribute as knowledgeable, transformed and empowered women to the development of their communities, and to the leadership of this new nation (independent from Sudan since 2011).
WTI provide close support on the ground, helping, with FIGS and IGBS, to construct the operational budget for the year, providing employment contracts and ensuring the school meets South Sudan law and regulations and has appropriate policies and procedures for finance, safeguarding and more.
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FIGS Charity Governance and Public Benefit
The FIGS trustees and several honorary advisers together cover various disciplines and areas of experience, to enable the FIGS trustees better to fulfil their responsibilities. These include people with experience in finance and accountancy, fund-raising, law, public policy making and management (including education, health, national, regional and local government), school leadership and educational development, programme evaluation, international development, and detailed knowledge of South Sudan. Trustees are appointed through an open selection process, with regard to the range of skills required by the trustee board. Selection is agreed by the whole trustee body.
The FIGS Trustees currently meet every other month to agree the charity’s budget, accounts and fundraising, to approve contracts, and to receive progress reports from working groups and the school. FIGS working groups primarily focus on: risk assessment, management and mitigation; fundraising; communications; contracts; educational capacity-building; and continuing professional development in South Sudan. Trustees set up ad hoc working groups as required, e.g. for recruitment of trustees, contractors and volunteers, and diaspora engagement.
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities, and the Trustees are convinced that the activities of the charity, summarised below, are furthering the charity’s objects for the public benefit. The charity’s public added value continues to be monitored and evaluated by the Trustees. This is aided by regular IGBS site visits and regular reports from, and meetings with, our implementing partners in WTI (online and in person). Girls’ education has been described as the world’s best investment with the widest-ranging returns, contributing to numerous development outcomes. We regularly track impacts.
Activity in 2023
In spite of the volatility which continues to destabilise Sudan, South Sudan, and parts of eastern Africa, Ibba Girls Boarding School (IGBS) has continued to act as a beacon of hope and inspiration for education in South Sudan. The conflict in Sudan to the north is not having a direct impact within the southern Western Equatoria State, although the overall economy of South Sudan is affected by that war due to its impact on the shared oil pipeline and other scarce resources (water, food, minerals). This context makes the need for education, empowerment and leadership by girls and women even more critical if South Sudan is to develop its indigenous skills and strengths.
Friends of Ibba Girls School (FIGS) has continued to raise funds and provide advice for the school, working closely with the school’s leadership and our implementing partners at Windle Trust International (WTI).
We are able to celebrate many successes in 2023.
The partnership with WTI has proved to be very productive. FIGS, IGBS and WTI worked closely throughout 2023 to restructure aspects of the school policies and practices, improve budgeting practices, and seek out efficiencies in purchasing and procurement.
WTI have carried out training for IGBS Trustees, the school’s Board of Governors, and Parent Teacher Association, and has overseen the elections to the Board of Governors and the PTA. They have provided training for teachers in classroom teaching and in safeguarding.
In 2023, WTI also carefully reviewed safeguarding at the school using a safeguarding specialist teacher, with a full written report indicating no concerns from students, staff or from observation.
IGBS provides employment for 40 staff (teachers, matrons, cooks, ground staff, security staff and cleaners). Their wages support the schooling of their relatives, extending the beneficial multiplier impact of IGBS.
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South Sudan has an under-representation of women teachers in the workforce, given that so few girls completed secondary school let alone gained tertiary education. This was initially evident at IGBS too. However, in late 2023 the Senior Woman Teacher was appointed as Deputy Head Teacher in addition to her other duties, providing a role model in the community and school. It is very pleasing that, in addition, WTI have taken care to appoint, where feasible, suitable women teachers when vacancies arise so that the school now has 6 women teachers out of the total of 15.
FIGS has worked to enable IGBS to continue to provide high-quality teaching in a safe and secure environment for 360 girls. The school’s provision of both primary and secondary school education creates a bridge between the two stages, which helps to reduce dropout at the end of primary school, which is otherwise so common in South Sudan.
The school achieved its first cohort of secondary school leavers in December 2022, who gained their national examinational results in March 2023. All passed with flying colours. FIGS and WTI have worked to find further funding for tertiary education. Of the 16 students who graduated in March 23, five have started training as midwives at Maridi Health Institute. One student is in the process of applying to The Catholic University of South Sudan at Wau to study Agriculture. Another has joined Wau Health Training Institute for Midwifery. Three students are also applying for courses at universities in Juba. FIGS is also in discussion with a teacher training institute in Western Equatoria State about places for IGBS leavers to train and qualify as primary school teachers. Not only are these school leavers achieving good academic results, but they are having a positive impact on their communities, sharing their learning and skills with others. In December 2023, the second cohort of girls completed Senior 4, taking national examinations. Their examination results are not yet known, due to the national government not having released any exam results across the country to date.
With these two cohorts, the pathway for girl students from the fourth year of primary to the completion of secondary school is now well established.
Meanwhile, the girls of the sixth cohort to complete Primary 8 at the school all passed their end of primary national exams, continuing the school’s 100% pass rate. The students progressed into the Secondary 1 class in February 2024.
An indication of the quality of education and the empowerment of girls is shown by the team from IGBS which demonstrated their power of argument and communication by winning an inter-school peace debate competition organised by the International Committee of the Red Cross.
2024 and Beyond
For several professional and personal reasons, Mark O’Donoghue stepped down as FIGS Treasurer shortly after taking on the role last year. Hugh Paget kindly stepped in as Acting Treasurer (with background support and advice provided by the previous Treasurer, Gary Bandy, a qualified accountant). In April 2024, Sarah Harding was recruited through open competition as the new Treasurer. As a highly qualified and experienced accountant, Sarah is already a great asset to the charity.
At the end of 2023 and start of 2024, WTI conducted a review of IGBS staff costs and have implemented the decision by the IGBS and FIGS trustees to reduce staff pay in line with other comparable schools. This has helped improve the financial sustainability of the school.
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In addition, the local community have taken to heart the need to gradually increase contributions from within South Sudan and have volunteered to increase family payments towards the girls, living costs. (Still a modest amount, with 5UPPOrt from the PTA for low-income families.) The FIGS strategic plan includes providing revenue and reserves to ensure the sustainability of the 5¢hool. It also includes a plan for additional capitsl funding to build the final buildings needed at IGBS, when the revenue stream is Secure. The long-term strategy of FIGS, based on four key pillars, remains unchanged. These pillar5 are-. consolidating the charity's existing position; strengthening fundraising and governance to support the developrnent of long-term income-generating activities at IGBS; sharing and Spreading the learning from IGBS across other states within South Sudan, as a tried-and tested demonstration project,. and community outreach (including a farming co-operative and a vocational and Ilfe skills trainin8 centre. Ilnked to the school). Fln8ndal Rovlew for 2023 During 2023, fundraising continued to be a challenge, now that the school has grown to Its full capacity of 360 students and 40 teaching and 5UPPOrt staff. At the same timei global crises ofwar, inflakn'on and natural disaster have diverted donor attention and made our fundraising task difflcult. As such. FIGS relied on reserves to cover a 2023 deficit. However. generous grants and donations in the year from loyal supporters of the charity, and another successful Big Give Chrlstmas Challenge in December 2023 helped to ensure the continuation of the FIGS grant for the school. Totsl Income in 2023 was £242,492 Icompared with £352,689 in the pvIouS yearl. Donations and 8rnnts were received principally from charitable foundations, churches, and family trusts but also from more than hundred individuals. and from fundralsing events and activities. Total expenditure for the year was £435,370 (comparable with the £435,627 in 20221 resulting in an operating deficit of £192,878. Over 89% of the expenditure in 2023 was on charitable purposes Compared with 92% in 2022. The charity's net assets atthe end of 2023 were £59,219 Icornpared with £252,097 at the end of 20221. Thi5 net worth is represented bv restricted funds of £8,800 and unrestricted funds of £50,419. Reserv•i Pollcy ond Goln¥ Concern The FIGS trustees aspire to maintain a financial position allowing It to fund operats'ng costs at Ibba Gir15 Boarding School for one year ahead, to give security to existing pupils and their parents. Thi5 policy implles target level of reserves which, when added to the anticipated donation inflow on a conservative basis of present regular monthly payments and predirtable annual payments, totals around £150,000. Reserves fell below this level at year end due to the difflcult fundraising climate in 2023 and the decision to use reserves to cover the subsequent cash shortFall in the short term. In 2024 the trustees are addressin8 the shortfall by investing more resource in fundra15ing, expanding the donor base and seeklng new sources of Income. Wlth new structures In place the trustees are conffdent thatthe charlty can continue as a golng concern. RD This report was approved by the Trustees on the 3 September 2024 and Signed on their behalf: Chris Trott Chair of Trus ees glql 2Ltr
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF IBBA GIRLS SCHOOL, SOUTH SUDAN
I report on the accounts of the Charity set out on the pages 8 to 16.
Respective responsibilities of the Trustees and Independent Examiner
The charity's trustees (who are also Directors of Friends of Ibba Girls School, South Sudan for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b)) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.
It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's report
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in, any material respect, the requirements
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tosin Adegun, CPFA, ACMA CGMA
3[rd] September 2024
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STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2023
| Note Income from: Donatons and legacies 3 Other trading actvites 3 Other income Interest Total income Expenditure on: Raising funds 4 Charitable actvites 5 Support costs 6 Total expenditure Net expenditure Transfers between funds Net movement in funds Reconciliaton of funds Total funds brought forward Total funds carried forward 9 |
Unrestricted Funds £ Restricted Funds £ 2023 total £ 2022 Total £ 241,389 0 241,389 351,586 90 0 90 114 344 0 344 261 669 0 669 728 |
|---|---|
| 242,492 0 242,492 352,689 43,166 0 43,166 21,099 365,416 23,209 388,625 401,979 3,579 0 3,579 12,549 |
|
| 412,161 23,209 435,370 435,627 (169,669) (23,209) (192,878) (82,938) 59,377 (59,377) 0 0 |
|
| (110,292) (82,586) (192,878) (82,938) 160,711 91,386 252,097 335,035 |
|
| 50,419 8,800 59,219 252,097 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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STATEMENT OF FINANCIAL POSITION AT 31 DECEMBER 2023 Unrestrlcted Funds Restrfcted Funds Note 2023 totsl 2022 Total Current assets Debtors 43,615 43,615 37,548 Cash & bank accounts 111,439 8,800 120.239 237,064 155,054 163.854 274,612 Current Ilabllltle$ Credltors.. amounts falllng due within l year Net current assets 104,635 104.635 22,515 50,419 8,800 59,219 252,097 Net assets 50.419 59,219 252.097 The funds of the charlty: Restrlcted funds 8,800 8,800 91,386 Unrestrlrted funds 50,419 50,419 160,711 Totsl charltyfunds 50A19 s{KI 59219 252.097 For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtsin an audlt of its accounts for the year In question In accordance with sectlon 476. The dlféttots acknowledge thelr rèsponslbllltles for complylng wlth the requlrements of the Act wlth respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions appllcable to companies subject to the small companies, regime. The notes on pages 10 to 16 form part of these accounts. Approved by the Trustees on 31d September 2024 and Signed on thelr behalf by: Chrls Trott Chalr of Trustees
STATEMENT OF CASHFLOWS 2023
| Note Receipts from donors Payment to suppliers and IGBS Interest received Other operatng receipts and payments Cash fows from operatng actvites 10 Cash fows from investng actvites Cash fows from fnancing actvites 11 Net cash outlow in the period Cash and cash equivalents 1 January Cash and cash equivalents 31 December |
2023 Total £ 2022 Total £ 235,606 352,872 (354,118) (444,236) 669 728 1,018 (357) |
|---|---|
| (116,825) (90,993) 0 0 0 (68,750) |
|
| (116,825) (159,743) 237,064 396,807 |
|
| 120,239 237,064 |
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Basis of preparation
The Friends of Ibba Girls School, South Sudan, is a registered charity and, for accounting purposes, it is a public benefit entity.
The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Charities Statement of Accounting and Reporting (SORP) 2015 (Financial Reporting Standard 102) and the Companies Act 2006.
2 Accounting policies
Recognition of incoming resources
Incoming resources are included in the Statement of Financial Activities (SoFA) when:
Grants and donations
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Volunteer help
Incoming resources with related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
The value of any voluntary help received is not included in the accounts, but makes a valuable contribution to the operation of the charity and we would like to thank all those who kindly give of their time and expertise.
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Investment income
Currency conversion
This is included in the accounts when receivable.
Restricted income funds
Restricted income funds are funds which are subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being legally binding. The aims and uses of each restricted fund are set out in the notes to the financial statements.
Trustees have not sought to apportion the interest earned on cash balances and bank fees paid across all the restricted funds on the grounds of materiality.
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance and support costs
The charity makes overseas payments to IGBS and some suppliers in US dollars. Expenditure in US dollars has been accounted for in sterling using the market exchange rate on the date the expenditure was incurred because this is a feature of the Xero accounting system. Currency gains and losses arise partly from timing differences between the date of invoices and the date of payments, and also because the actual exchange rate received by the charity from its bankers is different from the market rate used in the Xero accounting system.
Going concern
The Trustees have prepared the accounts on the going concern basis. They recognise there is a continuing fundraising challenge to ensure sufficient income to support the operation and growth of the school. Cash flow is monitored by the trustees and actions taken to balance expenses with available resources.
Support costs have been allocated between governance costs and other support costs. Governance costs include the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
3 Analysis of incoming resources
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Donatons and legacies | ||
| Donatons from individuals | 135,022 | 138,059 |
| Gif Aid | 23,693 | 19,265 |
| Grants and donatons from insttutons | 82,674 | 194,262 |
| Total | 241,389 | 351,586 |
| Trading actvites | ||
| Sale of Christmas cards, calendars, CDs and other goods | 90 | 114 |
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4 Fundraising expenses
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Fundraising support | 39,887 | 19,766 | |
| Other expenses (incl website hostng, postage, sofware) | 3,279 | 1,333 | |
| Total | 43,166 | 21,099 | |
| 5 | Expenditure on charitable actvites | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Grants to IGBS for operatng costs | 25,891 | 245,438 | |
| Payments to Windle Trust Internatonal for IGBS operatng costs | 287,986 | 0 | |
| Management fee paid to Windle Trust Internatonal | 28,222 | 0 | |
| Constructon of buildings at IGBS | 14,239 | 73,028 | |
| IGBS operatng expenses paid direct by FIGS | 32,002 | 58,653 | |
| Materials and equipment for IGBS | 0 | 24,637 | |
| Consultng fees (for work in IGBS) | 285 | 0 | |
| Other charitable expenditure | 0 | 223 | |
| Total | 388,625 | 401,979 |
Other charitable expenditure in 2022 includes £223 on arranging the travel to IGBS for volunteers as a group, which was refunded to the charity by the volunteers as donations.
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6 Support costs
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Bank charges, commissions and credit card fees | 2,248 | 5,061 |
| Trustee travel and subsistence | 0 | 4,200 |
| ICT services and sofware | 168 | 23 |
| Insurances | 1,076 | 1,542 |
| Advertsing | 0 | 575 |
| Net loss/(gain) on currency exchange rates | (929) | 471 |
| Other general expenses | 1,016 | 677 |
| Total | 3,579 | 12,549 |
All support costs are allocated to the activity of running IGBS.
No trustee received any remuneration or reimbursement of expenses to attend FIGS meetings. In 2022, flights for trustees to visit South Sudan were booked and paid for by FIGS and the trustees made donations to FIGS to cover the costs.
The independent examination of the accounts has been carried out free of charge.
7 Debtors and accrued income
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Gif Aid due from HMRC | 14,400 | 19,265 |
| Big Give income not received by 31 December | 29,215 | 18,283 |
| Total | 43,615 | 37,548 |
8 Creditors: amounts falling due within 1 year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Windle Trust Internatonal (for operatng expenses unpaid on 31 December) | 101,201 | 21,040 |
| Fundraising and administraton costs | 3,434 | 1,475 |
| Total | 104,635 | 22,515 |
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9 Unrestricted and restricted income funds
| Balance | Incoming | Outgoing | Transfers | Balance | |
|---|---|---|---|---|---|
| 01/01/23 | resources | resources | 31/12/23 | ||
| Restricted funds | £ | £ | £ | £ | £ |
| Personal donaton – for | 69,581 | 0 | (10,204) | (59,377) | 0 |
| development of the school | |||||
| Keith & Christne Binks – for | 1,000 | 0 | (1,000) | 0 | 0 |
| latrines | |||||
| Serena Lancaster – for latrines | 1,605 | 0 | (1,605) | 0 | 0 |
| Woolhope Trust – Bursaries for 10 | 19,200 | 0 | (10,400) | 0 | 8,800 |
| girls for 4 years (2021-2024) | |||||
| Total restricted funds | 91,386 | 0 | (23,209) | (59,377) | 8,800 |
| Unrestricted funds | 160,711 | 242,492 | (412,161) | 59,377 | 50,419 |
| Total funds | 252,097 | 242,492 | (435,370) | 0 | 59,219 |
10 Reconciliation of net deficit to net cash flow from operating activities
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Net defcit from Statement of Financial Actvites | (192,878) | (82,938) |
| (Increase)/decrease in debtors and prepayments | (6,068) | 985 |
| Increase/(decrease) in trade creditors | 82,121 | (30,080) |
| Net cash used in operatng actvites | (116,825) | (112,033) |
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- 11 Cash flows from financing activities
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Repayment of the principal element of long-term loans as explained | |||
| 0 | 68,750 | ||
| in note 12 |
12 Transactions with related parties
Trustees and some of their family members make donations of varying amounts to Friends of Ibba Girls School. The amounts of these donations are exempt from disclosure because none of them carry conditions.
On 1 January 2022 there was £68,750 owed to two creditors for interest-free loans that were due to be repaid in December 2024. The loan principal was £34,375 to John Benington and £34,375 to Jean Hartley (a trustee). The trustees decided to make an early repayment of the loans and this decision was executed in January 2022.
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