Trustees’ Annual Report and Financial Statements Page 1 of 37
Trustees’ Annual Report and Financial Statements 2023
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Contents
About us ....................................................................................................................................4 Our Profile .............................................................................................................................5 Our Mission...........................................................................................................................6 Our Readcycling Model .......................................................................................................7 Our Impact Goal ...................................................................................................................8 Our Fundraising Goal...........................................................................................................9 Key Peformance Indicators (KPI) Report .......................................................................... 10 Impact Report ....................................................................................................................... 16 Impact Summary 2023..................................................................................................... 17 Countries Impacted in Africa 2023 ................................................................................ 18 Featured Impact Report 2023 ......................................................................................... 19 Featured Sponsors and Partners 2023.......................................................................... 20 Trustees’ Annual Report ...................................................................................................... 21 Directors’ Report 2023 ..................................................................................................... 22 Independent Examiners Report 2023 ............................................................................ 24 Statement of Financial Activities 2023.......................................................................... 25 Statement of Financial Position 2023 ........................................................................... 26 Notes To The Financial Statements 2023..................................................................... 27
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About us
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Our Profile
| Charity Registered Name | Books To Africa International |
|---|---|
| Registered Trademark | Books2Africa |
| Founded | January 2012 (11 years) |
| UK Registered Charity No | 1152599 |
| UK Registered Company No | 08528635 |
| Registered Office | Unit 2, Barton Business Park, New Dover Road, Canterbury, CT1 3AA |
| Bankers | Barclays Bank, 9, St George's St, Canterbury, CT1 2JX |
| Accountants | Tracey Pearcy FCCA, Levicks Accountants, 12 Dover Street, Canterbury, CT1 3HD |
| Trustees | 1. Dr T Sango – Founding Trustee 2. Dr P Sango – Founding Trustee 3. Mr C Sango – Founding Trustee 4. Mr G Sango – Founding Trustee 5. Ms A Kieffer – Honorary Trustee 6. Ms A Nandan – Honorary Trustee 7. Mr P Ikeru – Honorary Trustee 8. Ms L Mpofu – Honorary Trustee 9. Ms S Bell – Honorary Trustee |
| Registered with Professional Bodies |
• HMRC • The Charity Commission • Companies House • Fundraising Regulator • Pensions Regulator • Information Commissioner’s Office • UN ECOSOC Consultative Status |
| Charity Contact Details | Email:info@books2africa.org Phone:+441227392239 Website:www.books2africa.org |
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Our Mission
Educating people, protecting the environment.
Books2Africa’s mission is to promote a culture of ‘readcycling’ and improve the quality of education in Africa, through the collection, processing, shipping and distribution of quality books, computers and educational materials that equip individuals, institutions, and communities to acquire knowledge and achieve their full potential in a globalised world.
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Our Readcycling Model
“We use too much and are too ready to throw things away”.
According to the UK Government’s Waste Strategy, “we use too much and are too ready to throw things away, and this waste causes damage if it is not managed properly. We can no longer ignore this” (p 15). Therefore, the goal is to “keep resources in use for as long as possible” (p 15) and “help our society move away from a ‘take, make, use and throw’ approach to resources and materials and instead waste less and reuse, recycle and repair more” (p 16). We should aim to “leave behind our traditional linear economic model and create a more sustainable and efficient circular model from which the environment, the economy and society all benefit” (p 16).
Books2Africa’s ‘readcycling’ model extends the life of books, computers and educational materials and prevents them from going to landfill via an efficient system that enables the collecting and processing of educational materials across the UK, and shipping/redistributing them to educational projects across Africa. Our Readcycling model works, and it complements the UK Government’s Waste Strategy as well as the UN’s Sustainable Development Goals 4 (Quality Education) and 12 (Responsible Consumption and Production).
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Our Impact Goal
Readcycle 1 million books and 1 thousand computers annually.
Books2Africa’s impact goal is to readcycle 1 million books (500,000 kg) and 1,000 computers (3,000 kg) every year. We can achieve this with the help and support of donors (who donate educational materials), sponsors (who fund shipments to Africa), team members (paid staff and volunteers who process donated items) and educational projects (organisations across Africa who receive donated items and make them accessible to beneficiaries). We also rely on our partners who work with us to establish and run Books2Africa Drop-off Points in the UK and Distribution Centres across Africa.
Did you know?
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At least 13 million books are thrown away and go to landfill in the UK every year according to conservative estimates by CODEP.
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According to UNESCO’s and The World Bank’s reports, 90% of children who attend school in Africa (202 million children) cannot read or write proficiently after finishing school in part because they lack educational resources.
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Our Fundraising Goal
Raise £200,000 annually for our 1 Million Books Fund.
Educational projects (schools, universities, community libraries etc) across Africa who need donated books and computers apply via our website. Approved projects are required to raise funds to cover the processing and shipping costs of their donated materials. However, most of these approved projects are unable to raise the needed funds and Books2Africa must rely on the support of generous sponsors. Consequently, every year, Books2Africa's aims to raise £200,000 for our 1 Million Books Fund which is used exclusively to fund the processing and shipping costs of 1 million donated books and 1 thousand donated computers. The overheads of the charity are covered by Charity Shop which sells a maximum of 20% of donated items.
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Key Peformance Indicators (KPI) Report
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Books saved from landfill in the UK
This KPI measures how many donated books were received by Books2Africa and prevented from going to landfill in the UK. 1 pallet of books is equivalent to 25 parcel boxes, 1000 books and 500kg.
2023 Total 406,000 Previous Year 405,000 Target 1,200,000
Notes: Not much difference in quantity of books saved compared to previous year as we focused on internal operational restructuring.
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Funds raised from our Charity Shop for overheads
This KPI measures how much was raised by the charity from our Charity Shop sales in the UK to fund the charity’s overhead costs – rent, rates, bills, staff, etc.
2023 Total
£105,024 Previous Year £142,836 Target £300,000
Notes: Decline in sales income as we stopped selling to one of our wholesale Charity Shop partners and decided channel more towards retail.
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Funds raised from sponsors for our 1 Million Books Fund
This KPI measures how much was raised by the charity from financial donations towards our 1 Million Books Fund to cover the costs of shipping educational materials to Africa.
2023 Total £70,428 Previous Year £48,805 Target £200,000
Notes: Figures may differ from the financial statements in later pages due to fundraising platform fees and Gift Aid not included here.
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Books requested and shipped to projects across Africa
This KPI measures how many donated books were shipped from the UK to Africa, directly to beneficiary projects and indirectly via Books2Africa Distribution Centres.
| 2023 | Requested | 1,263,050 |
Previous Year | 1,562,300 |
Target | 1,000,000 |
|---|---|---|---|---|---|---|
| 2023 | Shipped | 561,798 | Previous Year | 437,078 |
Target | 1,000,000 |
Notes: Limitations in funding for our 1 Million Book Fund affects how many requests for donated books we can fulfil.
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Computers requested and shipped to projects across Africa
This KPI measures how many donated computers were requested and shipped from the UK to Africa, directly to beneficiary projects and indirectly via Books2Africa Distribution Centres.
| 2023 | Requested | 402 | Previous Year | 499 |
Target | 1,000 |
|---|---|---|---|---|---|---|
| 2023 | Shipped | 103 | Previous Year | 32 |
Target | 1,000 |
Notes: Tech refurbishing programme will be concluding 3-year pilot phase at the end of this year.
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Impact Report
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Impact Summary 2023
1[st] Jan 2012 - 31[st] Dec 2023
Books Readcycled 3,301,937 Computers Refurbished 259 Kilos of materials saved from landfill 1,652,264
Notes :
Our computer refurbishing programme was launched in October 2020. An average weight of 500kg per 1,000 books and 5kg per computer is used to work out the tonnage of readcycled materials.
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Countries Impacted in Africa 2023
Countries in Africa where projects have received readcycled educational materials.
----- Start of picture text -----
TUNISIA
A GERIA
IB A
WESTERN EG T
SA ARA
AURITANIA
CA E ERDE A I
NIGER SUDAN ERITREA
C AD
T E GA BIA
BURKINA ASO D IBOUTI
GUINEA BISSAU GUINEA
NIGERIA SO A IA
SIERRA COTE D SOUT ET IO IA
EONE I OIRE G ANA CENTRA A RICAN SUDAN
RE UB IC
IBERIA
EQ. GUINEA
S O TO AND KEN A
R NCI E GABON
RWANDA
DR CONGO BURUNDI SE C E ES
TAN ANIA
ountries m acted
y oo s rica CO OROS
A OTTE
ANGO A A AWI
A BIA
SAINT E ENA
O A BIQUE
I BABWE AURITIUS
REUNION
NA IBIA
BOTSWANA
ESWATINI
ESOT O
SOUT A RICA
2023 Total 23 Previous Year 23 Target 54
----- End of picture text -----
Notes: English-speaking African countries benefit more than others because majority of donated books in the UK are in English.
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Featured Impact Report 2023
Uganda Technology and Management University, Uganda
| Books | Computers | Students |
|---|---|---|
| Delivered | Delivered | Impacted |
| 2,200 | 2 | 1,000 |
Teachers Shipment Impacted Sponsor 100 Self-Funded
Report Summary
“The university has moved to a new campus in Kungu and we were in the process of setting up a new library. The books from Books2Africa therefore were very much needed to provide more information resources to the university community. The students have a more resourced learning space for both private study and research. The presence of these books attracts them more to use the library. Some students have also been very instrumental in running the library by volunteering some of their free time and making sure that the new library is ready for use by the university community."
Read the full report and more online at https://books2africa.org/uganda-technology-and-management-university-uganda/
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Featured Sponsors and Partners 2023
A huge thank you to the following sponsors for their support this year:
Donated £10,000
Donated £8,000
Donated £6,324
Donated £2,500
To sponsor a shipment ,
contact us by email or visit https://books2africa.org/sponsorship/
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Trustees’ Annual Report
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Directors’ Report 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023.
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 charity's [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)" (effective 1 January 2019).
Director’s Re ort
The charity remains focused on its mission to promote a culture of ‘readcycling’ and improve the quality of education in Africa, through the collection, processing, shipping and distribution of quality books, computers and educational materials that equip individuals, institutions, and communities to acquire knowledge and achieve their full potential in a globalised world.
In 2023, the charity collected a total of 405,000 donated books from generous donors across the UK. This equates to 202,500 kg of good educational materials that have been readcycled and prevented from going to landfill or recycling sites. 42% of these materials were delivered to us by donors, with the majority delivering to our Canterbury location, about 5,000 books delivered to our Bristol drop-off point and 9,000 at our Cambridge drop-off point. Launching more drop-off locations across the UK in the coming years will be crucial in helping us reach our 1,000,000 donated books per year target.
The charity is committed to making sure only suitable and good quality educational materials are sent to Africa. With a team consisting of 80% volunteers, we were able to process 93% (378,636) of donated books at our Canterbury Processing Centre in 2023, checking, cataloguing and making them ready to be requested and shipped to beneficiaries in Africa. Our International Volunteer Programme continued to provide a crucial and committed volunteer workforce that complements our UK volunteer workforce, and we look forward to expanding the programme in the coming years as more donated books are collected.
The charity is funded by income from trading (goods and services) and voluntary donations. From trading of goods, £125,119 (gross) was raised from selling 4% of donated books and non-book items via our online charity shops in the UK, accounting for 42% of our total income of £298,245 in 2023. Our UK courier collection and international shipping services accounted for 28% (£84,375) of total income, with the remaining 30% raised from voluntary donations.
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The charity shipped a total of 561,798 donated books and 103 donated computers to beneficiaries across 8 African countries in 2023 (Ghana, Kenya, Liberia, Malawi, Nigeria, Tanzania, Uganda, and Zambia). Notable was an unusual shipment of 7,000 books to Trinidad in support of an educational project run by Books Abroad who were short of books. We are grateful for the following grants received to sponsor container shipments of donated materials to Africa: £10,000 from The Roger Raymond Charitable Trust, £8,000 from Ninety Foundation, £6,234 from Fidelity International and £2,500 from The Carmela and Ronnie Pignatelli Foundation. The Invicta Grammar School also raised and donated £2,579 as part of their Readcycling Week campaign. Investing more resources to improve our marketing and impact reporting will be crucial for recruiting more container sponsors in the coming year.
In conclusion, 2023 was a tougher financial year for the charity with a decline in income due to the challenging economic conditions in the UK. Yet it managed to achieve record-breaking impact by readcycling and shipping its second highest number of books since it was founded in 2012. The trustees will continue to work towards optimising the charity’s overhead budget (currently at £240,000 per year), maximising its impact in the UK and across Africa and achieving financial security by clearing outstanding liabilities and building a reserve. Voluntary donations from individuals and corporate sponsors will be crucial in enabling us to achieve this by 2025 and secure the charity to continue this important work long into the future.
Public Benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Financial Review
The Balance Sheet totals a deficit of £102,770. The stock held has the estimated value of £58,200. The stock and anticipated loans from trustees are considered sufficient funds for the charity continuing its activities.
Reserves Policy
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 month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of resources have been maintained throughout the year.
The trustee’s annual re ort was a roved on 26 September 2024 and signed on behalf of the board of trustees by:
Dr Tonson Sango Trustee
Dr Precious Sango Trustee
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Independent Examiners Report 2023
I report on the financial statements of the charity for the year ended 31 December 2023, which are set out on pages 25 to 35.
Respective responsibilities of trustees and examiner
The charity's trustees, who are also the directors of Books to Africa International for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of Tracey Pearcy FCCA.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) 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
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(iii) to state whether particular matters have come to my attention.
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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements present a 'true and fair view' and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(ii) to prepare financial statements 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
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Levicks Tracey Pearcy FCCA
12 Dover Street, Canterbury, Kent, CT1 3HD Dated: 26 September 2024
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Statement of Financial Activities 2023
INCOME AND EXPENDITURE ACCOUNT
| Year Ended 31 December 2023 | Note | Unrestricted Funds £ |
Restricted Funds £ |
Total Funds 2023 £ |
Total Funds 2022 £ |
| Income and Endowments | |||||
| Donations and legacies | 2 | 77,523 | - | 77,523 | 68,803 |
| Charitable activities | 3 | 209,494 | - | 209,494 | 245,616 |
| Investments | 4 | 3 | - | 3 | 104 |
| Other income | 5 | 11,225 | - | 11,225 | 8,090 |
| Total Income | 298,245 | 298,245 | 322,614 | ||
| Expenditure Charitable activities |
6 | 313,535 | - | 313,535 | 386,837 |
| Total Expenditure | 313,535 | 313,535 | 386,837 | ||
| Net movement in funds | (15,284) | - | (15,284) | (64,224) | |
| Reconciliation of Funds Fund balances at 1 January 2023 |
(87,486) | - | (87,486) | (23,262) | |
| Fund balances at 31 December 2023 | (102,770) | - | (102,770) | (87,486) |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Statement of Financial Position 2023
BALANCE SHEET
| 31 December 2023 | Note | 2023 | 2023 | 2022 | 2022 |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Tangible fixed assets | 13 | 9,285 | 17,149 | ||
| CURRENT ASSETS | |||||
| Stocks | 14 | 58,200 | 50,000 | ||
| Debtors | 15 | 3,312 | 5,161 | ||
| Cash at bank and in hand | 35 | 116 | |||
| 61,547 | 55,277 | ||||
| CREDITORS: amounts falling due within one year |
18 | (152,405) | (126,105) | ||
| NET CURRENT ASSETS | (90,858) | (70,828) | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
(81,573) | (53,679) | |||
| CREDITORS: amounts falling due after more than one year |
19 | (21,197) | (33,807) | ||
| Net assets excluding pension liability | (102,770) | (87,486) | |||
| NET LIABILITIES | (102,770) | (87,486) | |||
| THE FUNDS OF THE CHARITY Restricted funds Unrestricted |
- (102,770) |
- (87,486) |
|||
| Total Charity Funds | (102,770) | (87,486) |
The company is entitled to the exemption from the audit requirement contained in section 4 77 of the Companies Act 2006, for the year ended 31 December 2023 .
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 companies’ regime.
The financial statements were approved by the trustees on 26 September 2024.
_____ _____ 26 Dr Tonson Sango Dr Precious Sango Trustee Trustee
Notes To The Financial Statements 2023
1. Accounting Policies
Charity information
Books to Africa International is a private company limited by guarantee, incorporated in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 2, Barton Business Park, New Dover Road, Canterbury, Kent, CT1 3AA.
1.1. Accounting Convention
The financial statements have been prepared in accordance with the charity's (governing document], the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities 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 trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue 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 trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors 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.
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Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4. Income
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.
1.5. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.
Development costs
100% straight line
1.6. Tangible Fixed Assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 25% reducing balance Computers 25% reducing balance Motor vehicles 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
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1.7. Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.9. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10. 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 of its financial instruments.
Financial instruments are recognised in the charity's 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.
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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 charity's contractual obligations expire or are discharged or cancelled.
1.11. Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12. Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2. Income from donations and legacies
| Unrestricted Funds £ |
Total Funds 2023 £ |
Unrestricted Funds £ |
Total Funds 2022 £ |
|
|---|---|---|---|---|
| Donations and gifts | 32,421 | 32,421 | 56,453 | 56,453 |
| Donations received by the charity |
45,102 | 45,102 | 12,350 | 12,350 |
| 77,523 | 77,523 | 68,803 | 68,803 |
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3. Income from charitable activities
| Unrestricted Funds £ |
Total Funds 2023 £ |
Unrestricted Funds £ |
Total Funds 2022 £ |
|
|---|---|---|---|---|
| Book Sales Sales of goods |
125,119 | 125,119 | 150,692 | 150,692 |
| International shipping Services provided under contract |
34,684 | 34,684 | 35,936 | 35,936 |
| Collections Services provided under contract |
49,691 | 49,691 | 58,988 | 58,988 |
| 209,494 | 209,494 | 245,616 | 245,616 |
4. Income from investments
| Unrestricted Funds £ |
Total Funds 2023 £ |
Unrestricted Funds £ |
Total Funds 2022 £ |
|
|---|---|---|---|---|
| Interest receivable | 3 | 3 | 104 | 104 |
5. Other income
| Unrestricted Funds £ |
Total Funds 2023 £ |
Unrestricted Funds £ |
Total Funds 2021 £ |
|
|---|---|---|---|---|
| Net gain on disposal of tangible fixed assets |
3,411 | 3,411 | - | - |
| Gift Aid Income | 7,814 | 7,814 | 8,090 | 8,090 |
| 11,225 | 11,225 | 8,090 | 8,090 |
6. Expenditure on charitable activities
| Charitable activities 2023 £ |
Charitable activities 2022 £ |
|
|---|---|---|
| Direct costs | ||
| Opening Stock | 49,998 | 47,999 |
| Charity Purchases for resale | 39,318 | 26,438 |
| Closing Stock | (58,200) | (50,000) |
| Staff salaries and volunteer expenses | 86,593 | 131,014 |
| Staff salaries – Employers National Insurance Contributions | 2,951 | 1,855 |
| Staff salaries – Employers pension contributions | - | 1,828 |
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| Storage Rent | 44,483 | 41,440 |
|---|---|---|
| Light & Heat | 5,108 | 3,385 |
| Property Repairs & Maintenance | 397 | 2,021 |
| Consultancy | - | 1,263 |
| Fund Raising | 2,770 | 3,600 |
| Loan Interest | 2,029 | 7,133 |
| Domestic Shipping | 19,879 | 40,906 |
| International Shipping | 39,139 | 36,017 |
| BTA Projects | 3,331 | 1,610 |
| Other charitable expenditure | 36,564 | 43,510 |
| 274,360 | 340,019 | |
| Share of support and governance costs (see note 7) | ||
| Governance | 39,175 | 46,818 |
| 313,535 | 386,837 | |
| Analysis by fund | ||
| Unrestricted funds | 313,535 | 386,837 |
7. Support costs allocated to activities
| Charitable activities 2023 £ |
2022 £ |
|
|---|---|---|
| Governance | 39,175 | 46,818 |
| 39,175 | 46,818 |
8. Net movement in funds
The net movement in funds is stated after charging/(crediting):
| 2023 £ |
2022 £ |
|
|---|---|---|
| Depreciation of owned tangible fixed assets | 3,095 | 5,738 |
| Profit on disposal of tangible fixed assets | (3,411) | - |
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9. Trustees
One or more trustees has been paid remuneration or received other benefits from employment with the charity.
Dr T Sango is still employed with charity and the employment contact is in agreement with the Memorandum & Articles. The trustee (Mr T Sango) is still Chair of the Board of Trustees but has lost his voting rights.
The charity did not receive or repay from T Sango during the year (2022- £3,500 received and repaid).
Dr P Sango had lent the charity £35,570 during the year and £21,298 has been repaid by the year end leaving the balance due to the trustee £97,512 (2022 - £83,240). The loan is repayable on demand and is at 0% interest rate.
10. Employees
| 2023 Number |
2022 Number |
|
|---|---|---|
| The average monthly number of employees during the year was: |
7 | 10 |
| Employment Costs | 2023 £ |
2022 £ |
|---|---|---|
| Wages and salaries | 28,497 | 33,996 |
| Social security costs | 1,053 | 3,651 |
| 29,550 | 37,647 |
There were no employees whose annual remuneration was more than £60,000.
11. Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12. Other gains and losses
| Unrestricted funds 2023 £ |
Unrestricted funds 2022 £ |
|
|---|---|---|
| Gains/(losses) upon: | ||
| Foreign exchange | (6) | - |
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13. Tangible fixed assets
| Fixtures and fittings £ |
Computers £ |
Motor vehicles £ |
Total £ |
|
|---|---|---|---|---|
| Cost At 1 January 2023 Disposals |
20,393 - |
1,491 - |
20,097 (20,097) |
41,981 (20,097) |
| At 31 December 2023 | 20,393 | 1,491 | - | 21,884 |
| Depreciation and impairment At 1 January 2023 Depreciation charged in the year Eliminated in respect of disposals |
8,262 3,033 - |
1,242 62 - |
15,328 - (15,328) |
24,832 3,095 (15,328) |
| At 31 December 2023 | 11,295 | 1,304 | - | 12,599 |
| Carrying amount At 31 December 2023 |
9,098 | 187 | - | 9,285 |
| At 31 December 2022 | 12,131 | 249 | 4,769 | 17,149 |
14. Stocks
| 2023 £ |
2022 £ |
|
|---|---|---|
| Raw materials and consumables | 58,200 | 50,000 |
15. Debtors
| Amounts falling due within one year: | 2023 £ |
2022 £ |
|---|---|---|
| Other debtors | 3,312 | 5,161 |
16. Loans and overdrafts
| 2023 £ |
2022 £ |
|
|---|---|---|
| Bank overdrafts Bank loans Directors’ loans Other loans |
522 21,209 97,512 - |
349 29,986 83,240 2,167 |
| 119,243 | 115,742 | |
| Payable within one year | 106,810 | 94,532 |
| Payable after oneyear | 12,433 | 21,210 |
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17. Finance lease obligations
Future minimum lease payments due under finance leases:
| 2023 £ |
2022 £ |
|
|---|---|---|
| Within one year Within two and five years |
2,000 8,764 |
2,169 12,597 |
| 10,764 | 14,766 |
18. Creditors: amounts falling due within one year
| Notes | 2023 £ |
2022 £ |
|
|---|---|---|---|
| Bank loans and overdrafts Obligations under finance leases contracts Other borrowings Other taxation and social security Other creditors Accruals and deferred income |
16 17 |
9,298 2,000 97,512 44,309 (3,194) 2,480 |
9,125 2,169 85,407 26,701 528 2,175 |
| 152,405 | 126,105 |
19. Creditors: amounts falling due after more than one year
| Notes | 2023 £ |
2022 £ |
|
|---|---|---|---|
| Bank loans Obligations under finance leases |
16 17 |
12,433 8,764 |
21,210 12,597 |
| 21,197 | 33,807 |
20. Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and granters as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 January 2023 £ |
Incoming resources £ |
Resources expended £ |
Gains and losses £ |
At 31 December 2023 £ |
|
|---|---|---|---|---|---|
| General funds | (87,486) | 298,245 | (313,535) | 6 | (102,770) |
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| Previous year: | At 1 January 2023 £ |
Incoming resources £ |
Resources expended £ |
Gains and losses £ |
At 31 December 2022 £ |
|---|---|---|---|---|---|
| General funds | (23,262) | 322,613 | (386,837) | - | (87,486) |
21. Donated goods and volunteers
The charity receives most of its stock through books donated from organisations within the UK. The value has been placed at 10p per book as this reflects the work involved of preparing the books ready for shipping to Africa.
Volunteers also offer their labour free of charge as and when they are needed and available.
22. Related parties
There were no disclosable related party transactions during the year (2022 - none).
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For more information, contact us via:
www.books2africa.org info@books2africa.org +441227392239
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