2021-03-31-accounts - Guba Foundation

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Trustees Report and Financial Statements For the Year Ended 31 March 2021

GUBA FOUNDATION Registered Charity No: 1149303

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

CONTENTS	Page
Legal and administrative information	3
Report of the Trustees	4
Report from Reporting Accountant	11
Statement of financial activities	13
Balance sheet	14
Notes to the financial statements	15

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees: Akosua Amoateng MBE Vesta Boateng Vivian Karikari-Ababio Yvonne Abba-Opoku ACG Registered Office: 459 Prince Regent Lane London E16 3HX Charity Number: 1149303 Accountants: Jacob Manu & Co 1 Mark Street Stratford London E15 4GY

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

REPORT OF THE TRUSTEES

The Trustees present the Annual Report and financial statements of GUBA FOUNDATION for the year ended 31/03/2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005) in preparing the Annual Report and Financial Statements of the charity/company. The Report and Financial Statements also comply with the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status and Governing document

The objects and powers of the Charity were established in the Constitution of the Foundation and the Foundation is governed by it. The trustees are responsible for arranging and organising Annual General Meetings - AGM.

Appointment

The Trustees who held office during the financial year and at the date of this report are set out on page 3. The Trustees are elected by the Foundation in accordance with the rules set out in the Constitution. The board supports the principles of good governance set out in the Charity Governance Code.

When recruiting Trustees the board aims to attract a range of candidates with the skills and expertise required to deliver the Foundation’s charitable objects. All appointments are made on merit and in the best interest of the Foundation. Trustees receive no remuneration for their services.

The method of appointment of the Foundation Management is also set out in the Foundation Constitution.

Induction and Training

Trustees, as part of their induction and training, go through series of training where they are briefed on their legal obligations and the Charity Commission’s guidance on public benefit. The objects and aims of the Foundation are explained. Trustees and volunteers are also

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisation

The Board of Trustees and Management members are responsible for the overall strategy and direction of the Foundation. The Board of Trustees and Management members have the responsibility of all the activities of the foundation. The Trustees give their time on a voluntary and unpaid basis. The Foundation Management has wide responsibilities.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks. The trustees have a risk management strategy which comprises:

regular financial review to ensure the continuity of charitable activities;
ensuring all equipment is in good condition and safe for use;
Competence-based training for volunteers and trustees;
liability insurance;
Monitoring of new legislative requirements;
Policies and procedures for children and vulnerable adults protection;
Health and safety risks

Interest of Board of Trustees

No member of the Trustees had, at any time during the period under consideration, any interests in the charity which require disclosure in this report.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

AIMS AND PURPOSE/OBJECTIVES

The GUBA FOUNDATION was set up to, among others, to relieve poverty in developing countries in Africa. The principal activities of the Foundation include:

RELIEVE POVERTY IN THE ECONOMICALLY DISADVANTAGED PARTS OF AFRICA WITH A VIEW OF IMPROVING THE CONDITIONS OF LIFE FOR PEOPLE IN THESE COMMUNITIES.
CREATE EQUALITY OF OPPORTUNITIES FOR AFRICANS WHERE THEY HAVE ACCESS TO REAL OPPORTUNITIES, RECREATIONAL OPTIONS AND LIFE SERVICES NEEDED TO REACH THEIR POTENTIAL.

OBJECTIVES, AIMS AND PRINCIPAL ACTIVITIES

The GUBA FOUNDATION is committed to enabling as many people as possible to access the Foundation’s programmes and activities. The Trustees and the Foundation’s volunteers review needs in communities and seeks to relieve poverty, create opportunities and meet those needs in accordance with the Foundation’s charitable objectives.

When planning our activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the relief of poverty.

A summary of the result of the GUBA FOUNDATION activities during the period is given in the Statement of Financial Activities on page 16. The total income of the charity amounted to £46,420. The income was spent judiciously to meet the objectives of the Foundation.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

Volunteers

Without the selflessness, hard work and dedication of our volunteers, we couldn’t have achieved our aims and objectives. The volunteers contribute greatly to the running of the Foundation and enables it to fulfil its objectives.

Financial Review

The book values of the assets held at the year-end are, in the opinion of the Board of Trustees, as stated in the financial statements. Our principal source of funds comes from the generous donations of committed individuals and organizations. Total receipts of £46,420 were spent to promote the Foundation and charitable activities.

Reserves Policy

The Trustees have identified the need for reserves to be held as developing a reserves policy will assist in strategic planning such as in considering how new projects or future activities will be funded. To ensure sustainability and continuity of funding future activities, the trustees plan to have unrestricted funds to cover at least 3 months of unrestricted payments. This policy will be reviewed regularly to meet the charitable needs of the Foundation.

Investment Policy

The Trustees have the power to invest in such assets as they see fit. The charity's investment policy is appropriate to the nature of the funds for which the investment is held. The primary investment aim is to provide a high degree of security and liquidity and to maximise returns whilst adopting a conservative approach. This policy is not yet implemented.

Grant Making Policy

As part of our charitable objectives of providing aid to the needy, grants are not made but donations are given in the form of gifts to needy people who find themselves in some form of financial difficulty.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

ACHIEVEMENT AND PERFORMANCE

During this unprecedented period of the COVID-19 pandemic, GUBA Foundation successfully delivered activity against its charitable purpose by adapting delivery models and refocusing our programmes to support beneficiaries in the UK and overseas. Due to lockdown restrictions, most of our programmes, in particular, our health awareness campaigns targeted at minority ethnic communities were delivered virtually through our social media platforms. The GUBA Foundation also sought opportunities to increase impact and support COVID-19 relief work in disadvantaged communities.

HEALTH AWARENESS CAMPAIGNS

GUBA Foundation continued to raise awareness of mental health issues, autism support and breast cancer screening during the pandemic. More than 50,000 people from diverse communities and countries either joined or engaged with the virtual events held throughout the pandemic.

WALK WITH HAMMOND CAMPAIGN

In collaboration with Forces Help Africa, GUBA Foundation supported Walk with Hammond Campaign. This campaign was initiated by 95-year-old World War II veteran WO1 Joseph Ashitey Hammond who served in Burma and was inspired by fellow veteran the late Sir Captain Tom Moore, to raise funds for COVID -19 relief efforts in support of frontline workers as well as vulnerable veterans in Ghana and Commonwealth Africa. Donations were made to the Veterans Association of Ghana, the Ghana Ministry of Health and the Royal Commonwealth Ex-Service League. The campaign was supported by the Government of Ghana, British High Commission in Ghana, members of the UK Royal Family and the late Sir Captain Tom Moore. WO1 Hammond received Her Majesty The Queen’s Commonwealth Points of Light Award for services to charity.

GUBA Awards

GUBA FOUNDATION works with GUBA Awards to plan and organize annual events for recognition of achievements and innovation in products and services and to showcase them to the wider community. The 2021 GUBA Awards was held for the first time in Ghana to commemorate the centenary of Nana Yaa Asantewaa Queen Mother of Ejusi in the Ashanti Empire and to recognize the valuable contribution of women during a period of unprecedented uncertainty.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Charity Commission 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 charity at the yearend, of its incoming resources and resources expended during that year. In preparing those financial statements, the Trustees are required to:

➢ Prepare trustees annual reports and submitting annual returns forms and accounts
➢ Comply with the rules of the charity as set out in the governing document
➢ Ensure the charity is run carefully, by making sure it :
➢ Uses its charitable funds and assets wisely to further it charitable aims
➢ Does not do anything to put its property, funds , assets or reputation at risk
➢ Takes appropriate care and advice when investing or borrowing money.

INDEPENDENT EXAMINER

Jacob Manu & Co have expressed their willingness to continue in service and a resolution on this would be put to the Board of Trustees at the forthcoming Annual General Meeting.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

STATEMENT OF DISCLOSURES

a) So far as the Trustees are aware, there is no relevant information of which the Foundation’s Independent Examiners are unaware, and

b) They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant information and to establish that the Foundation's Independent Examiners are aware of that information.

By order of the Board of Trustees

............................................... Trustee

Date: 17/01/2022

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

INDEPENDENT EXAMINERS’ REPORTFOR THE YEAR ENDED 31/03/2021

We have examined the financial statements on pages 13 to 16 for the year ended 31/03/2021 which comprises the statement of financial activities. The financial statement has been prepared under the historical cost convention and the accounting policies set out therein.

The report is made solely to the Charity's Trustees, as a body, in accordance with Section 44 of the Charities Act 1993. The Trustees of the charity are of a general opinion that an audit is not required in accordance with Section 43(2) of the 1993 Act, and have opted for an independent examination instead.

Respective responsibilities of trustees and independent examiners

The Trustees, have responsibilities for preparing the Trustees' Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards. These are set out in the Statement of Trustees' Responsibilities in the Report of the Trustees.

Our responsibilities as independent examiners of the charity are:

to examine the books and accounts of the charity in compliance with Section 43 of the 1993 Act;
to strictly adhere to the general directions provided by the Charity Commission under Section 43(7)(b) of the Charities Act 1993; and
to state whether particular matters have come to our attention in the course of our examination.

We report to you whether the financial statements have properly been prepared in accordance with United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006 and in accordance with the Charities Act 1993.

We also report to you whether the information given in the Trustees' Report is consistent with the financial statements. We consider the implications of our report if we become aware of any apparent misstatements or material inconsistencies with the financial statement In addition we report to you if the charity has not kept proper accounting records, if we have not received all the information and explanations we require for our work, or if information specified by law regarding trustees' remuneration and other transactions with the charity is not disclosed.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

Basis of opinion

Our examination was carried out in accordance with the General Directions provided by the Charity Commission. The examination includes a review of the books and documents and other accounting records kept by the charity and comparing these with the accounts presented.

Our examination also includes consideration of any unusual disclosures or items in the accounts, and seeking explanations from the Trustees. It is imperative to state here that 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'. Our report is therefore limited to the statements below:

Independent examiners' statement

In connection with our examination, we report that no matter has come to our attention, which gives cause to believe that the following have not been met:

Keeping proper accounting records in accordance with Section 386 and 387 of the Companies Act 2006.
Preparing accounts which accord with the underlying accounting records and which are in compliance with the Companies Act 2006, the United Kingdom Generally Accepted Accounting Practice (UK GAAP), the Statements of Recommended Practice (SORP) - Accounting and Reporting by Charities and the Charities Act 1993.
Consistency of the information contained in the Trustees Report with the financial statements.

..................................................... Date: .........14...... Day of...January...........2021

Jacob Manu & Co

Chartered Certified Accountants 1 Mark Street, Stratford, London, E15 4GY

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

STATEMENT OF FINANCIAL ACTIVITYFOR THE PERIOD ENDED 31/03/2021

*Unrestricted* *funds* £	*Restricted* *income* *funds* £	*Total this* *year* *2021* £	*Total last* *year* *2020* £ 12,150 - - - *12,150* 10,870 - 700 - 11,570 580 - *580* 580 8,890 *9,470*
46,420	-	46,420	12,150
-	-	-	-
	-	-
-	-	-	-
-	-	-	-
*46,420*	-	*46,420*	*12,150*

51,102	-	51,102	10,870
-	-	-	-
800	-	800	700
-	-	-	-
51,902	-	51,902	11,570
-5,482	-	-5,482	580
-	-	-	-
*-5,482*	-	*-5,482*	*580*

-5,482	-	-5,482	580
9,470		9,470	8,890
*3,988*		*3,988*	*9,470*

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

Balance sheet as at 31/03/2021

Total this year Total last year 2021 2020 £ £

Fixed assets

Tangible assets

Investments

Total fixed assets

6
	-	-
	-	-

Current assets

Stock and work in progress Debtors (Short term) investments

Cash at bank and in hand

Total current assets

-	-

-	-
3,988	9,470
3,988	9,470

Creditors: amounts falling due within one year

Net current assets/(liabilities)

Total assets less current liabilities

Creditors: amounts falling due after one year Provisions for liabilities and charges

*3,988*	*9,470*

-	-
-	-

Funds of the Charity

Unrestricted funds Designated funds Total unrestricted funds Restricted income funds

Net assets

Total funds

3,988 9,470

3,988	9,470
-	-


*3,988*	*9,470*

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31/03/2021 Registered Charity Number 1149303

1 ACCOUNTING POLICIES

The principal accounting policies which have been adopted are set out below:-

2 BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP 2005) issued in January 2005.

3 INCOMING RESOURCES

Voluntary income include grants that provide core funding or are of general nature are recognized in full in the Statement of Financial Activities in the year in which they are receivable, except when the donors specify that the grant given must be used in a future accounting period, the income is deferred until those periods.

Incoming resources from charitable activities include income received under contract or where entitlement to grant funding is subject to specific conditions to deliver and is recognized whereas the service is provided.

Other income is accounted for on a cash basis.

4 RESOURCES EXPENDED

Expenditure is recognized when the liability is incurred.

Cost of generating funds are those incurred in attracting voluntary income
Charitable activities include expenditure associated with delivery of services and include both direct costs and support costs relating to each particular service
Governance costs include the costs of charity, including strategic planning for its future development, independent examination, any legal advice and all costs of complying with the constitutional and statutory requirements, such as costs of Trustees and the preparation of statutory accounts.
Support costs include overhead and other costs not directly attributable to a particular function and apportioned over the relevant activity on the basis of management estimates consistence with use of the resources e.g., staff cost by time spent, property costs by floor space and other costs by their usage.

March 31, 2021

GUBA Foundation Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31/03/2021 Registered Charity Number 1149303

5 TAXATION

The organization is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

6 TANGIBLE NON-CURRENT ASSETS

The organization’s non-current assets include musical instruments and they are depreciated on straight line basis

7 FUND ACCOUNTING

Unrestricted funds are grants, donation and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds are funds that can only be used for specific purposes as laid down by the donor. Expenditure, which meets this criterion, is charged to the fund, together with a fair allocation of management and support costs.

Designated funds are funds set aside by trustees out of unrestricted general funds for specific future purposes, or relate to grants given specifically for the purchase of assets where the use is not restricted. The aim and use of each of the designated fund is set out in the notes to the financial statements.