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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 07883925 (England and Wales)

REGISTERED CHARITY NUMBER: 1147128

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR AFRICAN ENTERPRISE INTERNATIONAL

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AFRICAN ENTERPRISE INTERNATIONAL

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Report ofthe Trustees Page
1-7
Report ofthe Independent Examiner 8
Statement of Financial Activities 9
Balance Sheet 10
Statement ofChanges in Fund Balances 11
Statement ofCash Flows 12
Notes to the Financial Statements 13 - 20
DetailedStatementofFinancialActivities 21

AFRICAN ENTERPRISE INTERNATIONAL

REPORT OF THE TRUSTEES - YEAR ENDED 31 DECEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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) (effective 1 January 2015).

Objectives and activities

Objectives and aims for the public benefit

The objective of AE International is to coordinate grants that are received from supporting partners and to manage their effective distribution to the ministry projects that are managed by partner teams within Africa. In addition the objectives are to provide oversight on good governance for all partners and to enable equity in the distribution of discretionary funds to partner members within Africa. The trustees provide substantial input into the primary direction and strategy relating to the management, coordination of activities and focus of the partnership as a whole as well as developing the policies and procedures that govern the partnership's operation. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charitable company's aims and objectives and in planning its future activities.

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: AFRICAN ENTERPRISE INTERNATIONAL REPORT OF THE TRUSTEES - YEAR ENDED 31 DECEMBER 2020

Achievement and Perfomance

Charitable activities

1. AE Mission Fronts

The year 2020 was a great success despite challenges brought about by the Covid pandemic. AE aligned herself swiftly to respond to the crisis to meet the realities that the pandemic brought. With most nations having shut their borders, and many nations having a ban on public gatherings, AE chose to respond by:

With these changes, AE was able to expand its outreach tremendously, which accounts for the 6-fold spike in numbers reached. Collectively, we reached 6,310,725 people with the gospel both through Proclamation and Social Action; and 63,516 made decisions to follow Christ. Additionally, we intentionally enhanced the social action arm in responding to the emergency needs of the communities that we serve in. All the 12 teams (South Sudan and Zambia included) implemented Covid intervention programs.

Proclaim 2020 African Evangelists Congress

The congress of African evangelists was to be held as a physical meeting on December 2020 in Nairobi, Kenya, with a vision of gathering 1, 500 proclamation evangelists from all the 54 African nations in Nairobi for a five days’ live congress. However, the Covid-19 pandemic led many nations to lock-down their borders, hence inhibiting a physical meeting. The African Enterprise team had to change strategies, since the need for Proclaim 2020 in Africa had never been more apparent. The growing challenges for local evangelists in Africa combined with the increasing disconnect of evangelistic efforts created a need for evangelists from every country in Africa to come together to ensure that Africa hears God’s voice and create the needed synergy. The Proclaim 2020 had to remodel to an alternative platform that would ensure that the goal of the gathering had been fulfilled. We had to rethink, virtual edition. The Proclaim 2020 - Virtual Edition was held from 1st-3rd December 2020 each day for two hours bringing together evangelists from their different spheres such as Marketplace/workplace Evangelists, Pastor Evangelists, Apologetics Evangelists, University Evangelists, Mass Evangelists, Church Planters, Friendship Evangelists, Missionary Evangelists, Artist Evangelists, and Media Evangelists. Theologians, Missions set-up personnel, and other church leaders connected. The church, missions’ volunteers and families have partnered with the African Enterprise in the past years and even more now in doing the task of the great commission. We are grateful for the time, prayers and financial giving that have made it possible to reach so many families with the word of hope and encouragement and led many to Christ Jesus in the year 2020.

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; AFRICAN ENTERPRISE INTERNATIONAL REPORT OF THE TRUSTEES - YEAR ENDED 31 DECEMBER 2020

2 Operations

2.1 Strategic Plan 2019-2021

Achievement and Perfomance

Charitable activities

One of the major collective partnership efforts we have recently engaged on is the Strategic Plan 20192021. The outcome of this process was the Strategic Vision Plan 2019-2021 are the 7 areas of Focus. This exercise refined for us not just the focus areas that should form the core of our operations, but also parameters for investing our human and financial resources. These following 7 areas of focus have informed all our planning and our expenditure for the year 2020; Stratified evangelism and discipleship, Community transformation, Transformational Leadership enhancement, Youth Empowerment, Peace building and Reconciliation, Capacity Development and governance.

This helped national teams operationalise the Strategic Vision Plan 2019-2021 for the short term as well as engage on a long-range Vision Plan 2020 - 2030.

The Charity partnership is currently working on a long-range strategic plan 2021-2030

2.2 Triennial International Council (IC) 2019

AEI hosted the IC meeting in Kigali in the month of November 2019. The IC is African Enterprise's top decision-making organ, meeting once every three years to review progress and chart the path for the ministry in the three subsequent years. Last year, the theme of the IC was "Fruit that Lasts", with a focus on "impact, sustainability, and legacy". Members engaged each day of the IC to reflection and discuss on one of these three areas. Our reflections being guided by the following questions:

e Impact: what is our reason for existence? What have we succeeded in achieving, and where do we need to improve, so as to make a mark in Africa? Mark this milestone as we learn from the prvious e Sustainability: How do we ensure that what we have done so far is not lost? . Legacy: What does the current generation of AE members leave behind for the next? How do we The conclusion of the IC was formulation of resolutions that will guide the organisation for the next 3 years.

2.3 Launch of a new region and entity in Zambia

The African Enterprise Southern Africa Regional (AESAR) was successfully launched on 3rd December 2019, in Lusaka, Zambia. With about 75 key leaders present; among them church leaders, the business community and members of parliament. The Zambian leaders expressed passionate acceptance and commitment to AE's vision. Our Zimbabwe and Malawian board chairs equally participated in the launch and in endorsing the Regional collaboration.

The formation of an AE Southern African Region (AESAR) is one such response. Its origin is informed by the need for a concerted vision to reach much more effectively the Southern Region defined in our present case as the nations of Zimbabwe, Malawi and Zambia. By forming these nations into a region, we have the proximity opportunity to incorporate a new nation - Zambia into AE's family.

The region is also meant to build the capacity of our existing teams in Zimbabwe and Malawi thus increasing their capability to effectively reach many more within their nations and collectively within their region. By committing to share human staff-resource each of the 3 nations will benefit from highly competent staff recruited from the region. The shared history by the 3 nations that includes their common South and Northern Rhodesia heritage and shared languages among the 3 nations are factors that contribute to this being a region. The AE South African region's vision is Hope for 1 million (Hf1M).

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; AFRICAN ENTERPRISE INTERNATIONAL REPORT OF THE TRUSTEES - YEAR ENDED 31 DECEMBER 2020

Achievement and perfomance (Cont..)

Charitable activities (Cont...)

Financial overview (Cont...)

Reserves policy

The trustees aim is to maintain reserves in unrestricted funds that will be sufficient to cover the operational costs of the organization for a period of 60 days or more. The trustees recognize that the level of funds received is dependent in turn on the fundraising efforts of partners rather than the direct fundraising efforts of the organization itself and that the flow of funds can be variable. The balance of unrestricted funds improved by US $76,991, from an overdrawn $12,443 as at 31st December 2019 to US $64,548 as at December 2020. This was achieved in the midst of the Covid 19 pademic which neccessiated reducing the budgets. We can attribute this achievement of increase in unrestricted funds to the measures we put in place including minimizing our travel, keeping our administrative costs to the bare essentials, holding meetings with our support offices every month to look at our financial projections and shifting meetings and operations to online platforms. The Charity is committed to continue with the cost cutting measures we have put in place .

May the grace, faith, love and power of God continue to uplift AE to greater heights.

Structure, governance and management -Governing document

The charity is constituted as a company limited by guarantee, as defined by the companies act 2006 and is hence controlled by its articles of association.

Recruitment and appointment of new trustees

Under the Memorandum and Articles of Association and the by-laws of African Enterprise International, most trustees are drawn from members of the African Enterprise International Council (IC) which is a group of companies that have signed the Covenant of Partnership (CoP) and is the body that appoints the trustees each three years. The IC determines the composition and membership of the International Board Trustees at its triennial meeting. At present trustees are appointed for a three-year term and may not serve more than two consecutive terms. The appointment of trustees between triennial |C meetings needs to be ratified at the next IC meeting.

The triennial meeting, hereby referred to as International Council (IC) took place in November 2019 and new trustees were appointed.

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: AFRICAN ENTERPRISE INTERNATIONAL

REPORT OF THE TRUSTEES - YEAR ENDED 31 DECEMBER 2020

Structure, governance and management - Governing document

African Enterprise International Limited is a company limited by guarantee with the registered company number 07883925. It is registered as a charity (Charity Number 1147128). The constitution of the partnership provides for a triennial council made up of representatives of all the members of the partner organizations both within Africa and outside Africa. Each partner organization has signed the CoP. The representatives of the partner organization are as defined in the by-laws of the company and they approve the appointment of trustees each three years. The make-up of the board is set out in the constitution. The board comprises two members who represent partners within Africa and two who represent partners outside Africa. In addition, there are two independent directors, the treasurer and the chairman. The company secretary attends board meetings as a non voting member. The International Team Leader (ITL) and the founder of the organization are also ex-officio attendees. None of the trustees is remunerated.

Induction and training of new trustees

African Enterprise International Limited considers carefully the induction of new trustees and has prepared a board manual for new and existing trustees. Documents provided to incoming trustees comprise the

Trustees are advised to read through the material thoroughly prior to signing the consent to act as a trustee.

Wider network

The IC represents the wider partnership, effectively the stakeholders and, in accordance the by-laws of the company, they have the right to remove trustees and to appoint new trustees. The trustees may appoint new trustees between each triennial meeting. Trustees appointed in this way need to be reappointed at the next triennial IC meeting.

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AFRICAN ENTERPRISE INTERNATIONAL

REPORT OF THE TRUSTEES - YEAR ENDED 31 DECEMBER 2020 Structure, governance and management - Governing document (Contd...)

The trustees have considered the major risks to which the charity is exposed. The charity currently does not actively seek direct funds from donors but receives funds from members of the partnership outside Africa and primarily distributes funds to other members of the partnership. The charity does not undertake the investment of funds that it holds and therefore is not exposed to market fluctuations. It operates both income and expenditure primarily in US dollars and accordingly has minimal exposure to currency fluctuations. The trustees believe there are adequate controls in place in managing finances.

Since the balance sheet date there has been a major worldwide impact from the COVID-19 virus. The management have revised the charity's budget for 2020 downwards to reflect estimated reductions in income from the support countries whose economies are likely to be affected. In addition expenditure plans have been closely reviewed and cut accordingly. The charity has also embraced the Home Based Evangelism (HBE) model! of doing missions which is cost effective and relevant to the season.

Reference and administration details

Registered Company number 07883925 (England and Wales) Registered Charity number 1147128

Registered office Station House

Connaught Road Brookwood Woking Surrey GU24 OER

Trustees

The trustees who held office during the year were:-

J Senyonyi

G Masalakulangwa N AAmoo C Kivengere J Reynolds W O Ogara A Rutayisire's S Mackay - Stepped down April, 2020 D Ralph - Appointed July, 2020

Company Secretary

The Trust Partnership Ltd

Independent Examiner

FCCA Donald Mark Odera

Association of Chartered Certified Accountants P.O. Box 1088 - 00621, Vilage market. 123 Mimosa Drive, Runda Estate, Nairobi.

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AFRICAN ENTERPRISE INTERNATIONAL

STATEMENT OF TRUSTEES RESPONSIBILITIES - YEAR ENDED 31 DECEMBER 2020

The trustees (who are also the directors of African Enterprise International for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and. detection of fraud and other irregularities.

In so far as the trustees are aware:

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF AFRICAN ENTERPRISE INTERNATIONAL CHARITABLE COMPANY (‘THE COMPANY’)

REGISTERED COMPANY NUMBER: 07883925 (England and Wales) REGISTERED CHARITY NUMBER: 1147128

YEAR ENDED 31 DECEMBER, 2020

Report to the Trustees

| report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020 set out on page 9 to 20.

Responsibilities and basis of report

As the charity's 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, | report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | 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 gross income exceeded £250,000, | confirm that | am qualified to undertake the examination because | am a member of Association of Chartered Certified Accountants, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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)].

| have no 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.

Signed | — = : FCCA Donald Mark Odera, Membership No. 0446112 (Crowe Erastus & Co., Certified Public Accountants) Association of Chartered Certified Accountants

P.O. Box 1088 - 00621, Village market.

123 Mimosa Drive, Runda Estate, Nairobi.

Nairobi = Puc US ff 2021

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AFRICAN ENTERPRISE INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES - YEAR ENDED 31 DECEMBER, 2020

2020 2019
Unrestricted Restricted Total Total
funds funds funds funds
Notes USD USD USD USD
Income 2
Mission, Ministry Support and Other 417,617 341,928 759,545 910,822
Aid & development 0 495 372 495.372 348209
Foxfires 0 18,870 18,870 17,106
Total income received 417,617 856,170 1,273,787 1,276,137
Expenditure 3
Mission, MinistrySupport and Other 45,821 312,911 B50 fo2) 280:357.
Aid & development 0 456,169 456,169 384,698
Foxfires 0 18,870 18,870 26,548
Team support costs 208,904 68,220 277,124 270,601
Pan African Mission 0 0 0 85,999
Founder's department 12.114 0 12,117 16,162
ITL department 142,484 0 142,484 152,739
Communications department 8,291 0 8,291 19,814
Total Expenditure 417,617 856,170 1,273,787 1,236,918
Balance forthe year 0 0 0 39,219
Reconciliation of funds
Total funds brought forward (12,443) 92,616 80,173 40,954
Totalfundscarriedforward (12,443) 92,616 80,173 80,173

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AFRICAN ENTERPRISE INTERNATIONAL

BALANCE SHEET - 31 DECEMBER, 2020

2020 2019
Unrestricted Restricted Total Total
funds funds funds funds
Current assets Notes USD USD USD USD
Cash and cash equivalents 12 77,129 90,650 167,779 106,452
Accounts Receivable 14 1,669 36,600 38,269 0
Total current assets 78,798 127,250 206,048 106,452
Current liabilities
Accounts payable 13 9,000 0 9,000 26,279
Deferred funds 15 0 34,634 34,634 0
Total current liabilities 9,000 34,634 43,634 26,279
Net current assets 69,798 92,616 162,414 80,173
Funds
Unrestricted funds (12,443) O (12,443) (12,443)
Restricted funds 0 92,616 92,616 92,616
Deferred funds 15 82,241 0 82,241 0
Totalfunds 69,798 92,616 162,414 80,173

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

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These financial statements were approved by the Board of Trustees on
and were signed on its behalf by :- f~ ,
> \
J. Senyonyi -Trustee
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, 2021

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AFRICAN ENTERPRISE INTERNATIONAL

STATEMENT OF CHANGES IN FUND BALANCES- 31 DECEMBER, 2020

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2020|2020|2019| |Unrestricted|Restricted| |funds|funds|Totals|Totals| |Movement|in|funds|USD|USD|USD|USD| |Fund|(Deficit)|balance|at|start|of the|year|(12,443)|92,616|80,173|40,954| |Deficit|for the|year|(Page|9)|0|0|O|39,219| |Deferred|funds|82,241|0|82|241|0| |Fund|balance|at end|of year|69,798|92,616|162,414|80,173|

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AFRICAN ENTERPRISE INTERNATIONAL

STATEMENT OF CASH FLOWS - 31 DECEMBER, 2020

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |2020|2019| |Cash|flows from|operating|activities:|Notes|USD|USD| |Balance|for the|year|(page|9)|0|39,219| |Adjustments|for|:-| |Exchange|differences|(1,937)|0| |Working|capital|changes| |(Decrease)|/|increase|in|accounts|payable|(17,279)|10,113| |Increase|in|deferred|funds|116,875|0| |Increase|in|receivables|(38,269)|0| |Total|cash|generated|from|operations|59,390|49,332| |Cash|and|cash|equivalents|at|the|beginning|of|the|reporting|period|106,452|57,120| |Exchange|differences|1,937|0| |Increase|in|cash|and|cash|equivalents|59,390|49332| |Cash|and|cash|equivalents|at|the|end|of the|reporting|period|167,779|106,452|

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AFRICAN ENTERPRISE INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS - 31 DECEMBER, 2020 1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis which assumes that the charitable company will continue in operational existence for the foreseeable future.The validity of this assumption is based on the fact that the charity only distributes grants to partner projects in Africa after it has received funds from its supporting partners. In addition, the charity has very little by way of overhead costs and these are also met from the funds from supporting partners before remittances are made to the partner projects in Africa therefore it is appropriate for the financial statements to be prepared on the going concern basis.

Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

These are recognized in the books when there is a contractual agreement and/or goods have been

The Charity depends on donations from supporters. Receivables are recognized when there is evidence funds have been wired but have not been credited into the bank account.

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AFRICAN ENTERPRISE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - 31 DECEMBER, 2020

1. ACCOUNTING POLICIES - Continued

Charitable activities

The charitable company' principle activities are as follows:

Mission & Ministry

This consists of support towards missions that are held across Africa by the partners in the ten teams in Africa who are part of the partnership. These missions use an approach called stratified evangelism where each strata of society within a city has a focused reach out. In addition, funds may go towards a major mission in a city that is strategic to a country or region and is usually outside the national boundaries of partner teams. In recent years these missions have included Bujumbura in Burundi and Juba in Southern Sudan, Monrovia in Liberia and Maputo in Mozambique. Funds go to directly support missions and in addition the staff that go on mission or provide the necessary infrastructure to assist teams in going on mission. Ministry also covers Peacebuilding exercises within countries and youth evangelism. Aid & development This consists of support for a range of socially focused projects covering community needs. Examples would include programmes for the rehabilitation of prostitutes, skills training to assist in running a small enterprise, primary health clinics including immunization programmes and water and sanitation projects within very deprived communities.

Governance costs

This consists of all legal and other costs connected to the charitable company meeting its statutory governance obligations and includes the annual audit fee and the costs associated with the meetings of the International board of trustees (directors).

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Monies received by the charitable company are mainly restricted by both activity and country where the money is to be spent. The restrictions applied are always fulfilled but in order that the fund reporting is not broken down to an unhelpful level of detail the restricted funds have been identified at a country level only.

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AFRICAN ENTERPRISE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER, 2020

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||||||||| |---|---|---|---|---|---|---|---| |2.|Income|as|analysed|per|activity|2020|2019| |USD|USD| |Mission,|Ministry|Support|and| |Other|759,545|910,822| |Aid|&|development|495,372|348|209| |Foxfires|18,870|17,106| |Total|Income|1,273,787|1,276,137|

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Aid|and|development|includes|funds|identified|for|third|parties.|See|note|10|for|a|breakdown|of| |incoming|resources|by|donor|country.| |3.|Charitable|activities|costs| |Grant|:|Support| |Charitable|funding|costs (Note| |activities|costs|Direct costs|of activities|5)|Totals| |(Note|4)| |USD|USD|USD|USD| |OtherMission,|Ministry Support and|312,057|0|46,675|358,732| |Aid|& development|450,716|5,453|0|456,169| |Foxfires|18,870|0|0|18,870| |Team|support|costs|277,124|0|0|277,124| |Founder's|department|12,117|0|0|tein| |ITL|department|124,484|0|18,000|142,484| |Communications|department|8,291|0|0|8,291| |Total costs|1203659|=F|5,453|64,675|1,273,787|

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |4.|Grants|payable| |The|total|grants|paid|to|institutions|during|the|year was|as|follows:|2020|2019| |USD|USD| |Aid|& development|(3rd|party|grants)|0)|12,726| |5.|Support|costs| |Management|Finance|Governance|Totals| |costs|costs|costs| |USD|USD|USD|USD| |OtherMission,|Ministry Support and|0|38,384|8,291|46,675| |Aid|and|development|0|0|0|0| |ITL|department|18,000|0|0|18,000| |Total|support|costs|18,000|38,384|8,291|64,675|

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AFRICAN ENTERPRISE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER, 2020

  1. Balance/ (deficit)

Net income/(expenditure) is stated after charging/(crediting):

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|||||||||| |---|---|---|---|---|---|---|---|---| |2020|2019| |USD|USD| |Examiner's|remuneration|(Incl.|pension|audit|-|provision)|9,000|8,071| |Auditors'|remuneration|for|non|audit work|0|4,776|

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7. Trustees’ remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019

The board of trustees is made of a number of individuals from various countries and when the board meet the costs of travel, accommodation and subsistence are met by the charitable company. Board meeting in 2020 were all online

8. Staff costs

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Wages|and|salaries|200,213|279,159| |The average|monthly|number|of employees|during|the|year was|>|6| |as|follows:| |No|employees|received|emolument|in|excess|of|$79,600|(£60,000).| |9.|Statement|of|Financial|Activities|for|year|ended|31|December,|2019| |,|Unrestricted|Restricted|Total| |bo calls|funds|funds|funds| |USD|USD|USD| |Mission,|Ministry|Support|and|Other|482,397|428,425|910,822| |Aid|&|development|96|348,113|348,209| |Foxfires|0|17,106|17,106| |Total|482,493|793,644|1,276,137| |Expenditure| |Mission,|Ministry|Support|and|Other|131,384|148,973|280,357| |Aid|&|development|74,592|310,106|384,698| |Foxfires|0|26,548|26,548| |Team|support|costs|107,342|163,259|270,601| |Pan|African|Mission|0|85,999|85,999| |Founder's|department|16,162|0|16,162| |ITL|department|138,539|14,200|152,739| |Communications|department|14,669|5,145|19,814| |Total|Expenditure|482,688|754,230|1,236,918| |Balance/|(deficit)|:|(195)|39,414|39,219| |Reconciliation|of funds| |Total|funds|brought|forward|(12,248)|53,202|40,954| |Total|funds|carried|forward|(12,443)|92616_|_ 80,173.|

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AFRICAN ENTERPRISE INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES - YEAR ENDED 31 DECEMBER, 2020

10, Detailed analysis of incoming resources by country

The charity received funds from partner charities located in different countries throughout the world
as follows:		 The charity received funds from partner charities located in different countries throughout the world
as follows:		 The charity received funds from partner charities located in different countries throughout the world
as follows:
2020 2019
Country USD USD
Australia 696,245 609,005
Europe 49,840 33,538
Canada 90,556 114,489
Ireland 22,892 17,831
NewZealand 11,501 8,380
USA 502,474 479,351
Switzerland 1,248 0
Direct funds 15,906 13,543
Total income received 1,390,662 1,276,137
Deferred funds (34,634) 0
Total income (net) 1,356,028 1,276,137
11. Analysis ofoutgoing resources by recipient
Country
Congo 103,426 58,433
Ethiopia 78,615 55,350
Ghana 79,626 69,338
Kenya 137,748 121,487
Malawi 101,993 96,223
Rwanda 96,103 107,984
South Africa 31,738 57,196
South Sudan SROTHE 18,935
Tanzania 49,782 50,933
Uganda 33,878 62,313
Zambia 85,443 0
Zimbabwe 58,808 76,084
Total 863,537 774,276
12. Cash and cash equivalents
Barclays UK US $ Account 116,833 82,255
Barclays UK GBPAccount (GBP 34,564.84) 50,946 24,197
Total cash and cash equivalents 167,779 106,452
13. Accounts payable: amounts falling due within one year
Staff benefit fund 0 Tg
Accrued expenses 9,000 18,488
9,000 26,279
14. Accounts receivable
Donationsreceivable 38,269 0

Accounts receivable resulted from donations that had been sent on December 2020 but was credited in the bank on January 2021.

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AFRICAN ENTERPRISE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER, 2020

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |15.|Deffered|income|2020|(USD)| |Unrestricted|Restricted|Total| |Opening|balance|0|0|0| |Additions|during|the|year|82,241|34,634|116,875| |Utilized|0|0|0| |Balance|at end|of year|82,241|34,634|116,875| |Funds|that are|received|and|do|not meet the|recognition|policy are|deferred|to|the|following|year.| |16.|Movement|in|funds|At|1.1.20|Net|At|31.12.20| |movement| |in|funds| |Unrestricted|funds/ General|fund|(12,443)|0|(12,443)| |Restricted|funds| |Congo|3,560|(1,551)|2,009| |Malawi|3,513|(1,983)|1,530| |South|Africa|region|13,946|(13,250)|696| |South|Sudan|14,744|2,449|17,193| |Community|development|21,784|(21,784)|0| |Mission|general|-|includes|meetings|35,069|70,753|105,822| |Total|92,616|34,634|127,250| |Deferred|income|(restricted)|0|(34,634)|(34,634)| |Total funds|80,173|on|80,173| |Net|movement|in|funds,|included|in|the|above|are|as|follows:| |Unrestricted|funds|Incoming|Resources|Movement| |resources|expended|in|funds| |General|fund|229,655|(147,414)|82,241| |Deferred|(82,241)|0|(82,241)| |Total|unrestricted|funds|147,414|(147,414)|0| |Restricted|funds| |Congo|101,879|(103,430)|(1,551)| |Ethiopia|78,615|(78,615)|0| |Ghana|79,626|(79,626)|0| |Kenya|144,124|(144,124)|0| |Malawi|100,010|(101,993)|(1,983)| |Rwanda|96,102|(96,102)|0| |South|Africa|18,487|(31,737)|(13,250)| |South|Sudan|2,449|0|2,449| |Tanzania|49,781|(49,781)|0| |Uganda|33,878|(33,878)|0| |Zambia|85,442|(85,442)|0| |Zimbabwe|58,808|(58,808)|0| |Community|development|(Balance|transfer)|(21,784)|0|(21,784)| |Mission|general|-|includes|meetings|333,590|(262,837)|70,753| |Total|1,161,007|(1,126,373)|34,634| |Deferred|funds|(restricted)|(34,634)|0|0| |Total|restricted|funds|1,126,373|(1,126,373)|0| |Total funds|1,273,787|(1,273,787)|0|

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AFRICAN ENTERPRISE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER, 2020

17. Movement in funds (2019) At 1.1.19 Net At
movement 31.12.19
in funds
Unrestricted funds/ General fund (12,248) (195) (12,443)
Restricted funds
Congo 0 3,560 3,560
Malawi 16,572 (13,059) S010
South Africa region 0 13,946 13,946
South Sudan 24,640 (9,896) 14,744
Community development 0 21,784 21,784
Mission general - includes meetings 11,990 23,079 35,069
Total 53,202 39,414 92,616
Total funds 40,954 39,219 80,173
Net movement in funds, included in the above are as follows:
Unrestricted funds Incoming Resources Movement
resources expended in funds
General fund 482,491 (482,686) (195)
Restricted funds
Congo 9,750 (6,190) 3,560
Ghana 17,518 (17,518) 0
Kenya 71,923 (71,923) 0
Malawi 71,326 (84,385) (13,059)
Rwanda 54,065 (54,065) 0
SA 27,501 (27,501) 0
Tanzania 17,363 (17,363) 0
Ethiopia 29,410 (29,410) 0
Uganda 26,176 (26,176) 0
Zimbabwe 21,363 (21,363) 0
South Africa region 27,448 (13,502) 13,946
South Sudan 10,239 (20,135) (9,896)
Community development 117,340 (95,556) 21,784
Team support - not country specific 132,331 (132,331) 0
Mission general - includes meetings 141,497 (118,418) 23,079
Foxfires 18,396 (18,396) 0
Total 793,646 (754,232) 39,414
Totalfunds 1,276,137 (1,236,918) 39,219
  1. Related party disclosures

There were no related party transactions for the years ended 31 December 2020 or 2019.

19. Contigent liability

There were no contigent liabilities at end of the year.

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AFRICAN ENTERPRISE INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES - YEAR ENDED 31 DECEMBER, 2020

  1. Movement in funds A current year 12 months and prior year 12 months combined position is as follows:
Net
At 1.1.19 movement At 31.12.20
in funds
Unrestricted funds USD USD USD
(a) General fund (12,248) (195) (12,443)
(b) Restricted funds
Congo 0 2,009 2,009
Malawi 16,572 (15,042) 1,530
South Africa region 0 696 696
South Sudan 24,640 (7,447) 17,193
Community development 0 0 0
Mission general - includes
meetings		 11,990 93,832 105,822
§3,202 74,048 127,250
Deferred funds (restricted) 0 0 0
Total funds 40,954 73,853 114,807
A current year 12 months and prior year 12 months combined net movement in
funds, included in the above are as follows:
Unreatiedfinde Incoming
resources		 Resources
expended		 Movement
in funds
General fund 712,146 (630,100) 82,046
Restricted funds 0
Congo 111,629 (109,620) 2,009
Ghana 97,144 (97,144) 0
Kenya 216,047 (216,047) 0
Malawi 171,336 (186,378) (15,042)
Rwanda 150,167 (150,167) 0
SA 45,988 (59,238) (13,250)
Tanzania 67,144 (67,144) 0
Ethiopia 108,025 (108,025) 0
Uganda 60,054 (60,054) 0
Zimbabwe 80,171 (80,171) 0
South Africa region 27,448 (13,502) 13,946
South Sudan 12,688 (20,135) (7,447)
Community development 95,556 (95,556) 0
Team support - not country
specific		 132,331 (132,331) 0
Zambia 85,442 (85,442) 0
Mission general - includes
meetings		 475,087 (381,255) 93,832
Foxfires 18,396 (18,396) 0
Total 1,954,653 (1,880,605) 74,048
Deferred funds (restricted) 0 (34,634) (34,634)
Totalfunds 2,666,799 (2,545,339) 121,460

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AFRICAN ENTERPRISE INTERNATIONAL

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

- YEAR ENDED 31 DECEMBER, 2020

Income and endowments

Income and endowments
2020 2019
Charitable activities USD USD
Income 1,273,787 1,276,137
Total income received 1,273,787 1,276,137
Deferred funds 0 0
Total income (net) 1,273,787 1,276,137
Expenditure
Charitable activities
Wages 78,491 164,522
Team support 277,124 270,601
Mission 170,130 88,181
Aid & development 456,169 311,825
Foxfires 18,870 26,548
Travel 974 13,204
Training 6,586 0
Office costs 22,121 16,325
Other costs 73,312 50,266
Pan African Missions 0 85,999
Grants to institutions 0 12,726
Total 1,103,777 1,040,197
Support costs
Management
Wages 121722 114,637
Travel - ITL 500 1,200
Office costs - ITL 20,262 36,902
Total Support costs 142,484 152,739
Finance
Bank charges 1,525 1,506
Governance costs
Examiner's remuneration (Incl. pension audit - provision) 9,000 8,071
Auditors' remuneration for non audit work 0 4,776
Board meeting costs 8,000 13,490
Accountancy and legal fees 9,001 16,139
Total governance costs 26,001 42,476
Total resources expended 1,273,787 1,236,918
Netincome puececnmnee'SameFB

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