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2022-12-31-accounts

23Charity Registration No. 1150065

Company Registration No. 08137530 (England and Wales)

RWANDA DIRECT

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

RWANDA DIRECT

LEGAL AND ADMINISTRATIVE INFORMATION

Mr A Isles Mrs JML Daltry Mrs Linda Taylor Mrs B A Willingham Rev Canon P R Daltry Mr Evariste Kanamugire

Secretary Mr A Isles Charity number 1150065 Company number 08137530 Registered office Westerfield Business Centre Main Road Westerfield Suffolk IP6 9AB

RWANDA DIRECT

REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their report and financial statements for the year ended 31 December 2022

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities governing document and the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

Rwanda Direct was established as a formal Charity in 2012 to:

The Trustees believe they have paid due regard to the guidance published by the Charity Commission on Public Benefit. As noted in activities the Charity's services are available to everyone regardless of gender, race ethnicity, sexual orientation, ability or faith having regard to the Charities objectives.

The have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

Rwanda Direct relies solely on fundraising activities and individual donations to meet its’ objectives. The trustees give their time freely to the charitable activities. Rwanda Direct still receives a steady stream of donations, similar to the previous year, enabling it to support projects such as scholarships, poverty reduction grants and Christian outreach. Rwanda Direct was also able to provide support to its partner organisations and Dioceses when their income dried up, enabling them to pay some salaries and provide food

Financial review

Donations in 2022 were £.26,941

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-months expenditure. The Charity considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charities current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Charity has assessed the major risks to which it is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

RWANDA DIRECT

REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

The Charity is controlled by its’ governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. The trustees meet formally every two months to consider the running of the Charity, finance and future operation. In addition, the trustees meet informally and are in regular communication to exchange opinions and discuss charity activities.

The members who are Trustees, and who are also the Directors for the purposes of Company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A Isles Mrs JML Daltry Mr J M Parratt (resigned 01 April 2023) Mrs B A Willingham Rev Canon P R Daltry Mr Evariste Kanamugire Mrs Linda Taylor (appt 01 August 2022)

The trustees' report was approved by the Board of Trustees.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A Isles

Mrs JML Daltry Mr J M Parratt (resigned 01 April 2023)

Mrs L Taylor (appt 01 August 2022) Mr Evariste Kanamugire Mrs B A Willingham Rev Canon P R Daltry

None of the Trustees have any beneficial interest in the Charitable company. All the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

There were no Trade creditors of the company at the year end.

No preference dividends were paid. The directors do not recommend payment of a final dividend.

The report was approved by the Board of Rwanda Direct.

RWANDA DIRECT

REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Mr A Isles

Dated: 13 September 2023

RWANDA DIRECT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
funds
funds
2022 2022
Notes
£
£
Income from:
Donations and legacies
3
24,141
2,800
Expenditure on:
Charitable activities
4
21,106 2,800
Net income/(expenditure) for the year/
Net movement in funds
3,035
0
Fund balances on 1 January 2022
10,654
0
Fund balances on 31 December 2022
13,689
0		 Total
2022
£
26,941
23,906
3,035
10,654
13,689		 Total
2021
£
27,078
25,502
1,576
9,078
10,654

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

RWANDA DIRECT

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Current assets
Debtors
7
Cash at bank and in hand
Creditors
Net current assets
Income funds
Restricted funds
Unrestricted funds		 2022
£
2,165
11,523
13,688
0		 £
13,688
0
13,688
13,688		 2021
£
3,093
7,561
10,654
0		 £
10,654
0
10,654
10,654

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the on 13 September 2023

Mr A Isles Trustee

Company Registration No. 08137530

RWANDA DIRECT

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Rwanda Direct is a private company limited by guarantee incorporated in England and Wales. The registered office is Westerfield House, Main Road, Westerfield, Ipswich IP6 9AB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charities governing document, The Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). There is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Charity have a reasonable expectation that Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Charity continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Charity in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the

1.4 Incoming resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Resources expended

RWANDA DIRECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

RWANDA DIRECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments.

Financial instruments are recognised in the Charities balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the Charities accounting policies, these are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

RWANDA DIRECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

3 Donations and legacies
Unrestricted Restricted Total Total
funds funds
2022 2022 2022 2021
£ £ £ £
Donations and gifts 24,141 2,800 26,941 27,078
For the year ended 31 December 2022 24,141 2,800
 26,941 27,078
4 Charitable activities
2022 2021
£ £
Website costs 174 158
Bank charges 185 321
EACC fees 4,250
Kigali Diocese 2,000 4,000
Scripture Union – covid support 0 5,023
Scripture Union 5,022 0
Gahini fees 4,275 3,500
Byumba fees 3,000 5,500
Kigame diocese 2,000 2,000
Hannah Project 3,000 5,000
23,906 25,502
23,906 25,502
Analysis by fund
Unrestricted funds 21,106 23,764
Restricted funds 2,800 1,738
23,906 25,502
For the year ended 31 December 2022
Unrestricted funds 21,106
Restricted funds 2,800

RWANDA DIRECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

5

None of the Trustees, (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

6 Employees

There were no employees during the year.

7 Debtors

Amounts falling due within one year:
Other debtors
8
Analysis of net assets between funds
Fund balances at 31 December 2022 are
represented by:
Current assets/(liabilities)		 2022
£
13,688
13,688		 2022
£
2,165
Total
2022
£
13,688
13,688		 2021
£
3,093
Total
2021
£
10,654
10,654

1

9 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).