DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
**SIERRA LEONE GRAMMAR SCHOOL OLD BOYS’ ASSOCIATION**
**FOUNDATION TRUST (UK) SLGSOBA**
## Annual Report and Financial Statements
For the 15 months ended 31st January 2023
**Registered Charity no: 1146279 Registered Company no: 07806269 (England and Wales)**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## content
**01**
**12**
**14**
**Trustees’ Report Independent Examiner’s Report Financial Report**
**Statement Of Financial Activites Balance Sheet Notes To the Financial Statements**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## SIERRA LEONE GRAMMAR SCHOOL OLD BOYS' ASSOCIATION FOUNDATION TRUST (UK) SLGSOBA
## REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31st JANUARY 2023
The trustees, who are also directors for the purpose of company law, present their report and accounts for the period ended 31st January 2023 which 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 for Smaller Entities (the FRSSE) (effective 1st January 2015) and in accordance with the special provisions of Part VII of the Companies Act relating to Small Entities.
## PUBLIC BENEFIT
The Trustees have had due regard to the Charity Commission guidance on public benefit reporting in deciding what activities the charity should undertake. The remainder of this report illustrates the activities undertaken to support the public benefit requirement.
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## Charity Name
Sierra Leone Grammar School Old Boys’ Association Foundation Trust (UK) SLGSOBA
## Charity Number
1146279
## Company Number
07806269
## Trustees and Management Committee
During the period ended 31st January 2023 the following served as Directors and Charity Trustees:
Quinton Winston Sylvah **Chairman** Rowland Awoonor-Gordon Jesse Richards Victor Ronald Kwaku Johnson John Nylander Mohammed Lamin Kamara-Kolleh Michael Olayiwole Edwin
**01**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## Registered Office
129 Tedder Road, South Croydon, Surrey, CR2 8AR
## Bankers
Barclays Bank PLC, 260 Walworth Road, London, SE17 1JF
## Independent Examiner
Jacqueline John MBA, FCCA. 48 Gauntlett Road, Sutton, Surrey, SM1 4RY
The Charity does not have any other formal advisors, legal or otherwise. However, when it is considered appropriate, advice is sought.
## STRUCTURE AND ORGANISATION
## **Organisation**
The organisation is a charitable company limited by guarantee, incorporated on 11 October 2011 and registered as a Charity on 07 March 2012. The company was established under a Memorandum of Association which identified the objects and powers of the company and the company is governed under its Articles of Association. In the event of it being wound up the members are required to contribute an amount not exceeding £1. The charity is managed by the trustees who, under the charity’s articles, are known as members of the Management Committee. The Management Committee meets regularly to consider the progress of the charity and its future direction and activities.
## **Risk Management**
The trustees have a wide range of business and other experience and are aware of the major risks to which the Charity is exposed and have established systems to mitigate these risks. The trustees, however, are aware of significant risks to its fundraising activities over the next financial period due to an ageing Alumni base and aim to diversify its fundraising by putting measures to mitigate some of the resulting impact.
## OBJECTIVES AND ACTIVITIES
The aims of the charity are for the public benefit, the advancement of education through the provision of scholarship grants, payment of fees; teaching aid, laboratory and recreation equipment for students in Sierra Leone, who otherwise could not afford such services and to provide financial relief in cases of need, hardship or distress to alumni or their dependants.
## ACHIEVEMENT AND PERFORMANCE
## **Review of the Period**
Our trust has not only risen to the challenge of continuing fundraising to support first class education for the pupils at the Sierra Leone Grammar School, but continued to implement our long-awaited improvements to the school’s infrastructure. We are proud to report on our achievements and performance for the period ended 31 January 2023.
**02**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
The activities of SLGSOBAUK pivoted from mainly in and around London, where most of its members live to digital using Zoom, this has allowed us to expand the reach and supporter base. It holds monthly meetings on the second Sunday afternoon of each month. Members contribute to the Association through annual subscriptions and voluntary donations.
One of our most important and ambitious projects this period was the investment in networking the school and upgrading the electrics to accommodate the new computer labs. This project was aimed at enhancing the quality of education and learning opportunities for the students, as well as improving the safety and efficiency of the facilities.
The project involved installing a high-speed fibre optic network throughout the school, connecting the four main buildings, administration offices and computer labs to the internet and to each other. This network allows for faster and more reliable access to online resources, as well as enabling video conferencing, online collaboration and cloud computing. The network also supports the use of smart devices, such as interactive whiteboards, tablets and laptops, which will enhance the teaching and learning experience.
The project also involved upgrading the electrical wiring and circuits in the school, replacing old and faulty equipment with new and safer ones. This upgrade ensures that the school meets the current standards and regulations for electrical safety, as well as reducing the risk of fire, shock and power outage. The upgrade also increases the capacity and efficiency of the electrical system, allowing for more power consumption and lower energy costs.
The project was completed in September 2022, after six months of planning and execution. The project was funded by a combination of the School, PTA and Alumni donations. The project was carried out by a team of professional contractors, who worked closely with the School staff and students to minimise disruption and ensure quality.
We are very pleased with the outcome of the project, as it has transformed the School into a modern and connected learning environment. We have received positive feedback from the staff, students and parents, who have noticed the improvement in the quality and efficiency of the ICT services. We are told they have also seen an increase in student engagement, achievement and satisfaction, as well as a reduction in maintenance costs and environmental impact. We believe that this project was a valuable investment in the school’s future.
One of our most significant and beneficial initiatives this period was the introduction of an experienced ICT consultant, former head of ICT with 25 years of experience in the UK schools to the school in Sierra Leone to support and increase capability. This initiative was aimed at enhancing the skills and knowledge of the local staff and students, as well as improving the management and maintenance of the ICT resources.
The consultant is Mr. Donald Smith, who has worked as a teacher, trainer and leader in various schools and colleges in the UK. He has a MA Ed in Information Technology in Education. He has also completed several courses and certifications in ICT, such as Microsoft and Google. He has a passion for ICT and education, and a desire to share his expertise and experience with others.
**03**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
Mr. Smith joined our school in September 2022, as a consultant who works three days a week. He has been working closely with the staff and students, providing them with training, coaching, mentoring and feedback. He has also been overseeing the operation and development of the ICT infrastructure, equipment, software and curriculum. He has been instrumental in implementing best practices, standards and policies for ICT in our school.
Some of the achievements and impacts of Mr. Smith’s work include:
Increasing the ICT literacy and confidence of the staff and students, enabling them to use ICT more effectively and efficiently for teaching, learning and administration.
Improving the quality and reliability of the ICT services, reducing the downtime, errors and risks associated with ICT.
Working with the ICT support team to update and upgrade the ICT hardware and software, ensuring that they are compatible, functional and up-to-date.
Introducing new and innovative ICT tools and applications, such as cloud computing, online collaboration, digital media and artificial intelligence.
Developing and delivering an ICT curriculum that is relevant, engaging and challenging for the students, covering topics such as coding, robotics, graphic design and data analysis.
- Establishing an ICT club that offers extra-curricular activities and opportunities for the students.
We are very grateful to Mr. Smith for his dedication and contribution to the school. We are also thankful to our donors, partners and volunteers who supported this initiative. We look forward to continuing our collaboration with Mr. Smith in the next year and beyond.
As we turn our focus forward, the future is bright for SLGS, with the continuing work to establish us as a STEM centre of excellence, plans are underway to increase the number of computer labs at the School; and the focus will soon switch to supporƟng the renovation of the Science Labs.
This year was the 177th anniversary of the founding of the Grammar School and this flavoured the six main fundraising events in the period which are described briefly:
Ride London 2022- One of our most challenging and rewarding fundraising events this period was the Ride London bike ride, which we participated in as a charity partner. The event was a mass participation cycling festival that took place on Sunday 29 May 2022, celebrating the legacy of the 2012 Olympic and Paralympic Games. It offered a range of cycling events for all ages and abilities, from a 100-mile sportive to a family-friendly freecycle.
**04**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
We had 10 cyclists who signed up to ride for our charity, either in the 100-mile or the 60-mile route. They trained hard for months, preparing themselves physically and mentally for the big day. They also set up fundraising pages and asked their friends, family and colleagues to sponsor them.
On the day of the ride, they wore their official charity jerseys and helmets and used the official app to track their progress. They also had our support team cheering them on along the way. They faced some tough challenges, such as hills, traffic and weather, but they also enjoyed some stunning views of London’s landmarks and Essex’s countryside.
They completed the ride in an average time of 6 hours and 30 minutes, which was an impressive achievement. They felt a great sense of accomplishment and satisfaction as they crossed the finish line. They received a congratulatory message from the app and a digital medal that they could share on social media. They also received a physical medal and a certificate in the post a few days later.
They raised a total of £6,000 for our charity, which will help us support our beneficiaries and achieve our goals. We are very grateful to all our cyclists, donors, supporters and volunteers who made this possible. We are also proud to be part of one of the world’s largest cycling events. It was an amazing experience that we will always remember.
Social Evening events - At the end of every year, we at SLGS OBA UK like to organise an end of year party where we meet each other, have fun and most importantly raise funds for our scholarship and STEM initiatives through donations and ticket purchases. This event is quite popular and is attended by many alumni and friends.
One of our most enjoyable and effective fundraising activities this period was the series of three social evening parties that we organised in London, The parties were aimed at attracting new and existing supporters, raising awareness of our charity’s work and generating donations. Each party featured live music, food and drinks, a raffle, and a speech from one of our beneficiaries.
We had over 600 guests at each event. We raised £43,000 from ticket sales, raffle tickets and drinks. The highlight of the evenings were the DJ set by the popular smooth entertainment.
We are very grateful to all our guests, donors, sponsors, volunteers and staff who made these parties possible. We are also delighted with the positive feedback and social media coverage that we received from these events. We plan to organise more social evening parties in the future as they are a fun and effective way to support our charity.
TCS London Virtual Marathon Oct 2022 - One of our major fundraising events this period was the virtual TCS London Marathon, which we participated in as a charity partner. The event was a great success, as we had 50 runners from four corporate partners who used the event as team building opportunity. They ran the 26.2 miles at a London Park we had organised, on Sunday, 2 October 2022. They used the official app to track their progress and receive audio updates from famous voices. They also wore the charity T-shirt, their official race numbers and received medals and T-shirts after the event.
**05**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
- Our runners raised a total of £7579 for our charity, which will help us support our beneficiaries and achieve our goals. We are very grateful to all our runners, donors, supporters and volunteers who made this possible. We are also proud to be part of the largest marathon ever staged, with more than 100,000 runners from 193 countries taking part. It was an incredible experience that we will always remember.
Sierra Leone Grammar School has long been a springboard to excellence and high achievement - not just in Sierra Leone, nor West Africa, but across the globe. I am glad to share that for yet another year Two of our Alumni’s and members continue the traditions of recognition for outstanding achievements in their fields:
- Shortlist for Five National Nursing Awards - Melville Jimmy Garber, an alumnus whose work has been ‘highly commended’ at several prestigious award ceremonies, It’s been a busy period for Jimmy who attended both the Nursing Times Awards and HSJ Patient Safety Awards, and although the project didn’t win, it was ‘highly commended’ at the latter. It also narrowly missed out on winning a PPIMH Award too, but also was ‘highly commended’ by the judges. Jimmy now awaits the results of two prestigious award ceremonies - the LaingBuisson Award and the Great British Care Awards.
- Head Teacher of the Year - Tes School Awards 2022 - Arthur Barzey, an Alumnus(1982/1983 –A/Levels), has uplifted the name of the School by winning the award of Best Headteacher in the UK. As the head of Heron Hall Academy which is a Ponders End school in the UK, he received this award from the Tes School Awards 2022 held at the Grosvenor Hotel on 17th June 2022. The Tes Schools Awards, formerly known as Times Educational Supplement.
Arthur Barzey won the top teaching prize for his efforts at turning the Ponders End school into a“place of hope”. It is interesting to note that Arthur traded a career in medicine to become the head teacher of the Heron Hall Academy.
**06**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
We have also maintained a strong relationship with the School, its staff, parents group, its students and its alumni groups in other countries. We have communicated regularly with them through our website, newsletter, social media and meetings. Five members of this executive visited the School this period.
We are grateful to all our donors, supporters, members, volunteers and partners for their generous contributions and involvement in our charity. We look forward to continuing our work in the next year and beyond.
And that’s where we stand today, fifteen months that have been challenging, but nonetheless marked by progress. As you can see, the donations have embraced embraced endurance-based fundraising, it has attracted a new set of younger volunteers with an interest in our cause.
**07**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## Creating of ICT Labs To Enable 21st Century Skills
We have worked together with the School Principal, Rev. Canon Leonard Ken Davies,to transform the School’s ICT capability. Our ICT strategy is to ensure the School has the tools to provide the pupils with 21st century skills. To achieve this, we developed a plan of action to reinforce the foundational components required to make more use of ICT at the School. We worked with a number of organisations who gave us used equipment that we refurbished and repurposed for the ICT labs. Some of the equipment we received were desks, chairs, whiteboards, desktop computers, monitors, internet broadband connectivity etc. Members of the alumni community gave their time, free of charge, to fix the computers and set up the school wide campus network.
## Why we helped?
“Some may think the Technology industry is desperately trying to hire programmers in California but every industry is trying to hire Technology natives everywhere!” Therefore, it behoves us to create opportunities for the pupils to develop the much-needed skills to give them a competitive edge in future. The support we provide, goes a long way to help a child grow to become a world changer. Also, giving back to the School is a way to show gratitude for the contribution it has made to our lives as alumni. Our Alumni support by either providing expertise or financial help.
**08**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## Digital Literacy for Teachers
## Why we helped?
In all this, the teachers are not left out, we continually offer them free digital literacy training as well as basic computing training. They have also been provided with laptops to encourage the practical use of their training to incorporate digital content to student lessons. We also matched the School’s ICT teachers with three teachers in the UK, who are also old boys of the School and have experience teaching the same ICT subjects, to share resources and to upscale these teachers locally.
**09 08**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## Bolstering ICT Leadership and Teaching expertise
Alumnus Donald Smith – Former Head of ICT and Computing at top UK secondary school retired to Sierra Leone after 25 years of teaching service. He holds MA Ed in Information Technology in Education.
We secured his service, three days a week to increase the quality of ICT delivery to the pupils and spearhead our ICT . He has created a new ICT curriculum for the School and introduced a Python Coding club for teachers and pupils.
He has also updated the ICT teaching resources and is now coaching the staff on how to deliver the content and is working with other subjects teachers on how digital resources could be used to enrich the pupil learning experience.
**10**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## **Financial Review**
At the end of the 15 months to January 2023, the Charity had £55,085 (Year ending October 2021 £33,221) in bank accounts. Income for the 15 months to January 2023 was £90,612 (Year ending October 2021 £42,814) with expenditure of £68,242 (Year ending October 2021 £32,171) giving a surplus for the period of £20,849 (Year ending October 2021 surplus £9,362) after accounting for depreciation.
## **Reserves Policy**
The current net assets currently represent over 7 months of the average expenditure of this and the previous year. The trustees aim to retain sufficient reserves to enable them to respond rapidly to any significant or urgent need of Sierra Leone Grammar School and consider this level reasonable. The trustees are confident that the Charity will continue to operate effectively.
## **Responsibilities of the Trustees**
Charity law requires the trustees to prepare financial statements for each financial period, which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently; make judgments and estimates that are prudent and reasonable;
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in existence.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Small company provisions
This report has been prepared in accordance with the special provisions for small companies under Part VII of the Companies Act 2006.
Signed on behalf of the trustees
Quinton Winston Sylvah Chair of Trustees Date 20/10/2023
**11**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## SLGS OBA UK Financial Transactions
Independent Examiner’s report to the Trustees of Sierra Leone Grammar School Old Boys’ Association Foundation Trust (UK) SLGSOBA
I report on the accounts of the company for the 15 months ended 31st January 2023, which are set out on pages 14 to 21.
## Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 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:
examine the accounts under section 145 of the 2011 Act
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.
**12**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## Basis of independent examiner’s report
My examination was carried out in accordance with the 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 you as 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 statement
In connection with my examination, no matter has come to my attention:
## **(1) which gives me reasonable cause to believe that in any material respect the requirements:**
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
## **(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.**
Jacqueline John MBA, FCCA 48 Gauntlett Road Sutton Surrey, SM1 4RY
20/10/2023 Date : ..........................................................................
**13**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## SIERRA LEONE GRAMMAR SCHOOL OLD BOYS' ASSOCIATION FOUNDATION TRUST **STATEMENT OF FINANCIAL ACTIVITIES For the 15 months ended 31st January 2023**
||Notes 2023 2021|
|---|---|
|**INCOMING RESOURCES**||
|**Unrestricted Funds**|**2a 22,288 42,812**|
|**Designated funds**|**2b 58,300 0**|
|**Restricted Funds**|**2c 10,000 0**|
|**Income from Investments**|**2d 24 2**|
||90,612 42,814|
|**RESOURCES EXPENDED**||
|**Unrestricted Funds**|**3a 21,065 31,771**|
|**Designated funds**|**3b 46,477 0**|
|**Governance**|**3c 700 400**|
||68,242 32,171|
|**NET INCOMING RESOURCES**
**BEFORE OTHER RECOGNISED**|22,370 10,643|
|**GAINS AND LOSSES**||
|**DEPRECIATION**|5 (1,521) (1,281)|
|**NET MOVEMENT IN FUNDS**|20,849 9,362|
|**CHARITY FUNDS**||
|**Unrestricted funds B/F 1st**|**9 32,994 28,080**|
|**November 2021**||
|**Unrestricted Funds for 15**|**(974) 9,362**|
|**months to January 2023**||
||**32,020**|
|**Designated Funds**|**16,271**|
|**Total Unrestricted Funds**|**48,291 37,442**|
|**Restricted Income Funds**|**10,000**|
|**CARRIED FORWARD 31st January**|**2023 58,291 37,442**|
**14**
## DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07 SIERRA LEONE GRAMMAR SCHOOL OLD BOYS' ASSOCIATION FOUNDATION TRUST **BALANCE SHEET as at the 15 months ended 31st January 2023**
||Notes 2023 2021|
|---|---|
|**FIXED ASSETS**||
|**Tangible Fixed Assets**|**5 585 2,106**|
||585 2,106|
|**CURRENT ASSETS**||
|**Debtors and Prepayments**|**6 972 632**|
|**Cash in Bank**|**55,085 33,221**|
|**Stock**|**2,349 1,884**|
||58,406 35,736|
|**LIABILITIES**||
|**Amounts falling due within**|**7 (700) (400)**|
|**one year**||
|**NET CURRENT ASSETS**|57,706 35,336|
|**LIABILITIES**||
|**Falling due in more than**|**7 0 0**|
|**one year**||
|**TOTAL NET ASSETS**|58,291 37,442|
|**CHARITY FUNDS**||
|**Unrestricted Funds**|**32,020 37,442**|
|**Designated Funds**|**16,271 -**|
|**Restricted Income Funds**|**10,000 -**|
|**Total Funds**|58,291 37,442|
The notes on Pages 16 to 21 form part of these accounts.
For the period ending 31st January 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 obtain an audit of its accounts in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The accounts were approved by the trustees on 13[th] October 2023 and signed on their behalf by:
Quinton Winston Sylvah Chair of Trustees 20/10/2023 Date: ...............................................
**15**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## SIERRA LEONE GRAMMAR SCHOOL OLD BOYS' ASSOCIATION FOUNDATION TRUST
## **NOTES TO THE FINANCIAL STATEMENTS For the 15 months ended 31st January 2023**
## 1. ACCOUNTING POLICIES
## **(a) Basis of Accounting**
The financial statements have been prepared using the historical cost convention and accruals basis and are 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 for smaller entities (the FRSSE) (effective 1st January 2015) and in accordance with the special provisions of Part 7 of the Companies Act 2006 relating to small entities.
The accounts include all transactions, assets and liabilities for which the Charity is responsible in law.
## **(b) Fund Accounting**
Unrestricted funds are available to use at the discretion of the trustees in furtherance of the charities objectives.
Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **(c) Incoming Funds**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable certainty. The following specific policies apply:
(i)Voluntary income by means of donations or gifts is included on receipt.
(ii) Grants and legacies to the Charity are accounted for as soon as the Charity is notified of its legal entitlement to the amount due.
(iii) Interest and investment income is included when receivable.
**16**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## **(d) Resources Used**
Expenditure is recognised on an accruals basis as a liability is incurred, including the cost of unrecoverable VAT.
(i)Costs of raising funds comprise costs associated with attracting voluntary income, including costs of trading for fundraising purposes and any use of fundraising consultants.
(ii)Charitable expenditure includes the costs incurred by the charity in delivering of its activities to and services to its beneficiaries. These include costs directly attributable to its activities and services, costs to support them and costs associated with meeting the statutory and constitutional requirements of the Charity, including the strategic management of the charity.
(iii) Donated services are included at the value to the charity where this value can be quantified. The value of services provided by volunteers has not been included in these accounts.
(iv) The number of financial transactions is small and the Management Committee’s time on strategic review is small in relation to total time so no specific management cost has been allocated to governance.
## **(e) Fixed Assets**
Fixed assets are stated as cost less accumulated depreciation. Amounts over £150 are capitalised. Depreciation is calculated to write-off the asset over an estimated life of 4 years.
## **(f) Current Assets**
Amounts owing to the Charity are shown as debtors. Where appropriate, a provision for amounts that may prove uncollectable is deducted.
**17**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
**NOTES TO THE FINANCIAL STATEMENTS For the 15 months ended 31st January 2023**
## SIERRA LEONE GRAMMAR SCHOOL OLD BOYS' ASSOCIATION
## 2. INCOMING RESOURCES
|
**2a Unrestricted funds**
**Subscriptions and Donations**
**STEM Lab Donations**
**All Regentonians Evening 2022**
**Sale of Merchandise**
**(Ties, Bow Ties, Lapel Badges)**
**Thanksgiving**
**Social Evening**
**Inter- House**
**Donations towards Welfare and Sierra Leone**
**Grammer School (SLGS)**
**2b Designated Funds**
**London Marathon**
**Social Evening 2021**
**Bike Rides**
**STEM Lab Donations**
**Social Evening 2022**
**Summer Bonanza**
**2c Restricted Funds**
**2d Income from Investments**
**Room 7**
**Bank interest**
**TOTAL INCOMING RESOURCES**|2023 2021
Total
Total|
|---|---|
||**4,864 4,741**
**17,130**
**5,130 6,587**
**2,826 43**
**8,306 6,558**
**7,753**
**432**
**730**|
||**22,288 42,812**|
||**7,579**
**14,345**
**5,994**
**1,452**
**8,852**
**20,078**|
||**58,300 0**|
||**10,000 0**
**24 2**|
||**90,612 42,814**|
**18**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## 3. RESOURCES USED
|**3a Unrestricted Funds**
**Educational Scholarship and welfare for**
**Sierra Leone Grammar School**
**Cost of Stock Sold**
**Insurance**
**Equipment donated to Sierra Leone**
**Grammar School**
**Room Hire for meetings and associated**
**expenses**
**All Regentonians Evening**
**Thanksgiving**
**Social Evening**
**Donations to Other Organisations**
**Website Design**
**Band Practice Costs**
**Welfare Support**
**Social Evenings 2021**
**Bike Rides**
**Equipment donated to Sierra Leone**
**Grammar School**
**Social Evenings 2022**
**London Marathon**
**Summer Bonanza**
**3b Cost of raising designated funds**
**3c Governance Costs**
**Independent Examiner’s Expenses**
**TOTAL RESOURCES USED**|Total
**588 3,404**
**3,653 647**
**1,103 796**
**14,032**
**4,196 624**
**4,583 3,930**
**5,345 693**
**6,403**
**0 169**
**767 972**
Total
2023 2021
Total
Total
**300 0**
**530 100**|
|---|---|
||**21,065 31,771**|
||**7,168**
**3,548**
**12,890**
**9,464**
**3,981**
**9,426 0**|
||**46,477 0**|
||**700 400**|
||**700 400**|
|||
||**68,242 32,171**|
**19**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## SLGS OBA UK Financial Transactions **NOTES TO THE FINANCIAL STATEMENTS For the 15 months ended 31st January 2023**
## 4. TRUSTEE AND EMPLOYEE INFORMATION
The Charity has no employees and the Directors and Trustees give their time voluntarily without payment.
## 5. FIXED ASSETS
|||**Roll-up**
**Banner**
**£**|**Computer**
**Equipment**
**£**|**Money**
**Chips**
**£**|**Musical**
**instuments**
**£**|**Sum Up**
**card**
**£**
**TOTAL**
**£**|
|---|---|---|---|---|---|---|
|**Actual Cost**|||||||
|**As at**|**1st November 2021**|**190**|**1,039**|**1,290**|**3,494**|**83 6,096**|
|**Additions**|||||||
|**As at 31st January 2023**||**190**|**1,039**|**1,290**|**3,494**|**83 6,096**|
|**Accumulated Depreciation**|||||||
|**As at**|**1st November 2021**|**190**|**1,039**|**753**|**1,965**|**43 3,990**|
|**Charge for the year**||**0**|**0**|**403**|**1,092**|**26 1,521**|
|**As at 31st January 2023**||**190**|**1,039**|**1,156**|**3,057**|**69 5,511**|
|**Net Value**|||||||
|**As at**|**31st January 2023**|**0**|**0**|**134**|**437**|**14 585**|
|**As at**|**31st October 2021**|**0**|**0**|**538**|**1,529**|**40 2,106**|
|6. DEBTORS|||||||
|||||**2023**||**2021**|
|**Deposits paid for events occurring**||||**972**||**632**|
|**in the next year and other prepayment**|||||||
|||||**972**||**632**|
|7. LIABILITIES|||||||
|||||**2023**||**2021**|
|**Falling due within one year**|||||||
|**Amounts owing**||||**700**||**400**|
|||||**700**||**400**|
**20**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## 8. TAXATION
The Charity is exempt from taxation in its income and gains where they are applied for charitable purposes. Irrecoverable VAT is included in the cost of goods and services on which it was charged.
## 9. FUND DETAILS
The SLGSOBAUK general funds are for use at the discretion of the Trustees for the Charity.
The Trustees made a decision to transfer £4,448 from the brought forward unrestricted reserves to designated funds to support the science labs and STEM initiatives.
During the year £11,823 was raised towards these projects and this has been included within designated funds on the face of the balance account.
**2023 2021 Balance B/F 37,442 37,442 Transfer to Designated funds (4,448) Unrestricted Funds Carried forward 32,994 37,442**
## 10. RELATED PARTIES
The charity does not have any related parties.
## 11. CONTROLLING PARTIES
The charity is controlled by the trustees.
**21**
DocuSign Envelope ID: 30BF14B8-3E31-4AAA-8732-DF34E54DAF07
## IT’S TIME TO MAKE HISTORY **BECOME A LEGACY BUILDER**
## **Visit:**
**www.regentonians.org**
## **Empowering tomorrow's GRADUATES TODAY**
**The Sierra Leone Grammar School Old Boys’ Association Foundation Trust**
**A Charity registered in** England and Wales (1146279)