Registered number.. 8150121
Charity number.. 1153193
ONE ACRE UK LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Gsfi&co
Griffin Stone Mos(iop & Co
100 YEARS

Docusign Envelope ID.. 976679C&672C-4DC4_99F7_BB1AE2D7AA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
CONTENTS
Page
Reference and adminlstrative details of the Company, its Trustees and advlsers
Trustee5' report
Statement of financial activities
Balance sheet
Notes to the financlal ststements
7-16
Griffin Stone Moscrop & Co

DOC￿sign Envelope ID.. 976679C5472C-4DC4-99F7-BB1AE2D7AA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Matthew Forti, Chair
Kanini Mutooni Iresigned 9 February 20241
Saul Sulkover Morris
Dr Stephen Lonsdale Wiggins
Pooja Mall
Sonny Bardham
Suveer Kolhari
Tilianne Donde {appointed 9 February 20241
Company registered
number
8150121
Charity regi$t¢red
number
1153193
Reglstered office
Kemp House
152-160 City Road
London
EC1V 2NX
Accountants
Griffin Stone Moscrop & Co
Chartered AccoLJnlants
21-27 Lamb's Conduit Street
London
WC1N 3GS
Page 1
Griffin Stone Moscrop & Co

Docu5wn Envelope ID.. 976679C&672C-4DC4-99F74BIAE207AAtF
ONE ACRE UK LIMITED
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees through their sele¢led representative, present their annual report together with the financial
slalemenls of the Company for the period from 1 January 2023 to 31 December 2023. The Annual report Serves
the Purposes of both a Trustees, report and a directors. report under company law. The Trustees. through their
selected representative. confirm that the Annual report and financial slalemenls of the charitable company
comply with the Current slalulory requiiemenls, the requirements of the charitable company's governing
document and the provisions ol the Statement of Recommended Practice ISORPI applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS1021 leffeclive 1 January 20191.
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Stralegic report
required of medium and large companies under the Companies Act 2006 Islralegic Report and Directors.
Report) Regulation5 2013 has been omitted.
Objectives and activities
a. Policies and oblectives
The charitable purposes of One Acre UK Limited aTe'.
Prevention or relief of poverty or financial hardship in Afric8 by providing items and services lo individuals or
families in need, or other organizalions working lo prevent or relieve poverty.,
The advancement of education and training".
Promotion of sustainable development for the benefit of the chronically hungry African farm families.
In selling objectives and planning for activities, the Trustees have gwen due consideration to general guidance
published by the Charity Commission relating lo public benefit. including the guidance 'Pub5ic benefit.. running a
charity IPB21'.
b. Grant-making policies
During the year 2023, OA UK Ltd raised grant funding amounting lo £43,446. However, a grant that had a
re￿1vable balance of £45,000 was lerminaled due to a misalignment with the donor's objectives, Management
decided lo reverse both weivables and revenue.
Achlevewnents and performance
a. Main achievements of the CoTnpany
In 2023, One Acre UK continued ils efforts lo prevent and relieve povtrty among Africa's chronically hungry
smallholder farm families. The charity achieved this Dbjective by raising donations from individuals and
inslilulions lo invest in the programs of our ￿lated charity organizalion One Acre FLJnd in Africa,. which provides
high-qualily farm inputs and training, among other a¢livilies, lo improve farmers. crop yields,. which laimers in
turn use lo reduce hunger and poverty in their households. In 2023, the farmers reached by One Acre UK
increased their farm yields and incomes by roughly 40°k compared lo farmers not enrolled in the program.
Additionally. through 115 Iruslees, One Acre UK also provided important strategic advice lo management in Africa
lo improve the effectiveness and efficiency of ils programs and broader operations.
Page 2
Griffin Stone Moscrop & Co

DocLJsign Envelope ID.. 976679C&672C-4DC4-99F7-BB1AE2D7A41F
ONE ACRE UK LIMITED
IA company Ilmited by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and perfomiance Icontinugdl
b. Review of activitie5
During the financial year 2023, ignoring the impact of the lerminaled grant, the charity recorded income of
£43.448 and recorded expenditure of £27,014 for normal operation.
Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate
resources lo continue in operational existence for the lore5eeable lulure. For Ih1s reason, they continue lo adopt
the going concern basis in preparing the financial 51alemenls.
b. Reserves policy
One Acre UK Limited shall endevour lo allain positive nel assets in each reporting period, the fundraising team
will strive to raise funds lo cover all the operating CDsls, and in the vnlikely event they do not, the related enlily
One Acre Fund US will cover the expenses for Ihal period or extend said funds lo One Aere UK Limited.
Structure, governance and managemont
Constitution
One Acre UK Limited is registered as a charitable company limited by guarantee and was sel up by a
Memorandum of Association.
b. Methods of appolntment or ele¢tion of Trustees
The oversight of the Company is the responsibility of the Trustees, who are elected by the exisiling Trustees and
co-opted under the terms of the Memorandum of Association.
Plans for future periods
One Acre UK intends lo pursue the same strategy in 2024 and beyond, as il did in 2023 and previously. That is
to say. One Acre UK will mobilize grant resources from UK and international donors, and deploy those resources
to support African smallholder farmers lo increase their ¢rop yields," and ln turn, reduce hunger and poverty in
their households. Additionally, One Acre UK will ¢onlinue lo provide strategic counsel to management in Africa
lo improve the effectiveness and efficiency of ils programs and broader operations. One Acre UK (Joes
recognize that 2023 wasn't a strong year for fundraising compared lo the previous year," hence, the organizalion
will continue operating at prudent staffing levels.
Page 3
Griffin Stone Moscrop & Co

DoGu$￿￿ Enveh)pe ID.. 976S79C5ffj72C4DC4-99F7.BB1AE2D7AA IF
ONE ACRE UK LIMITED
IA company Ilmlted by guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Statement of Trustees. responslbilities
The Trustees Iwho are also the directors of the Company for the purposes of company lawl are responsible for
prepaTing the Trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel.
Company law requires the Trustees lo prepare financial slalemenls for each financial year. Under company law,
the Tru51ees rllu51 not approve the financial slalements unless they are satisfied that they give a true and lair
view of the slate of allairs of Ihe Company and of ils incoming resource5 and application of resources, including
ils income and expenditLJre, for that period. In preparing these financial slalemenls, the Trustees are required to..
select suitable accounting policies and then apply them consistently..
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial stalemenls.,
prepare the financial slalements on the going concern basis unle58 11 is inappropriate to presume that the
Company will continue in business.
The Trustees ale responsible for keeping adequate accounting records that are sufficient lo show and explain
the Company's transactions and disclose wrth reasDnable accuracy al any lime the financial position of the
Company ancl enable them lo ensure that the financial 51alemenls comply with the Companies Act 2006. They
are also responsible for safeguarLling the assets of the Company and hence lor taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by represenlalive of the board of Trustees on 10 July 2024 and signed on behatf of all Trustees..
Matthew Fortl
TrLJslee
Page 4
Griffin Stone Moscrop & Co

DoGusign Envelope ID.. 976e79CS472C4DC4_99F7.BB1AE2D7AA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2023
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Tol81
funds
2022
Note
Income from-
Donations and legacies
145,0001
43,446
11.5541
4,496,847
Total Income
45,0001
43.446
11,5541
4,495,847
Expenditure on:
Charitable activities
145,0001
27,014
117,9861
4,467.327
Total expenditure
145,0001
27,014
117.9861
4,467,321
Net movement in funds
16.432
16.432
29,526
Reconciliation of funds:
Total funds brought forward
Nel movement in funds
34,869
16,432
34,869
16,432
5,343
29.526
Total funds carried forward
51,301
51,301
34,869
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 10 16 form part of these financial slalements.
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Grlffin Stone Moscrop & Co

Docuslgn Envelo￿ ID.. 976S79C5ffj72C40C4-99F74B1AE2D7PA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
REGISTERED NUMBER.. 8150121
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Current assets
Debtors
Cash al bank and in hand
3,585,952
277,402
4,325,649
701,051
3,863,354
4,426, 700
Creditors.. falling due within one year
10
11.872,8461
(q,067,396J
Net current assets
1.990,508
3,359.304
Total assets less current liabilities
1,990,508
3.359,304
Creditors.. falling due after more than one
year
11,939,207>
(3,324,435)
Total net asset5
51,301
34,869
Charity funds
Re51ncted funds
13
13
Unrestricted funds
51,301
34,869
Total funds
51,301
34,869
The Company was enlilled lo exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company lo obtain an audit for the year in question in accordance with
section 478 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo
a¢¢ounting records and preparation of financial slalemenls.
The fin8ncial slalemenls have been prepared in accordance with the provision$ applicable to enlilies subject lo
the small companies regime.
The financial slalements were approved and authorised for issue by the Trustees on 10 July 2024 and signed on
their behalf by..
Matthew Forti
Trustee
The notes on pages 7 10 16 form part of these financial slalements.
Page 8
Griffin Stoie Noscrop & Co

DOC{￿ign Erwelope ID.. 976679C&672C4DC4.99F7.BB1AE2D7AAIF
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
General information
One Acre UK Limited is a charitable company, limited by guarantee and registered w￿h the Registrar of
Companies in England & Wales (company number.. 081501211 as well as the Charities Commission
(charity number". 11531931. The Registered Office address is Kemp House, 152-160 City Road, London,
EC1V2NX.
Accounting policie5
2.1 Basis of preparatlon of financial statement5
The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities. Slalemenl of Recornmended Practi¢e applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
One Acre UK Limited meets the defi'nition of a publr benefit entity under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the
reSevant accounting policy.
2.2 Income
All income is recognised once the Company has entrtlemenl lo the income, il is probable that the
income will be rece1ved and the amount of income receivable can be measured reliably.
Grants are included in the Slalemenl of financial activities on a receivable basis. The balance of
income re¢eived for Specific purposes bul not expended during the period is shown in the relevant
funds on the Balance sheet. whe￿ inctsme Is received in advance of enlillemenl of receipt, its
recognition is deferred and included in creditors as deferred income. Where enlillemenl occurs
before income is received, the income is a¢¢rued.
2.3 Expendlture
Expenditure is recognised once there is a legal or constructive obligation to Iransler economic benefit
lo a third party, il is probable th81 a transfer of economic benefits will be required in selllemenl and
the amount of the obligation Can be measured reliably. Expenditure is classified by aclivily. The costs
of each activity are made up of the lolal of direct Costs and shared costs. including support costs
involved in undertakillg each activity. Direct costs allribulable lo a single aclivty are allocated directly
lo that activity. Shared costs which contribute lo more than one activity and support C051s which are
not attributable lo a single activity are apportioned between those activities on a ba515 consislenl with
the use of resources.
Expenditure on charitable activities 15 incurred on diredly undertaking the activities which furthei the
Company's objectives. as well a5 any associated support costs.
Grants payable are Charged in the year when the offer is mad& except in those cases where the offer
is conditional. such grants being recogni5ed as expenditure when the conditions allaching are
fulfilled. Grants offered subject to colldilions which have not been met at the year end are noted as
commitment, bul not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 7
Griffin Stone Moscrop & Co

t)ocu519n Envek)pe ID". 976679C5.672C.4DC4-99F7-gY1AE2D7M1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies Icontinuedl
2.4 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
2.5 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid investment5 with a short maturity
of three month5 or less from the dale of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provlsions
Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past
event, il 15 probable that a transfer of economic benefit will be required in selllement, and the amount
of the selllemenl can be eslimaled reliably.
Liabilities are recognised al the amount that the Company anlicipales il will pay to settle the debt or
the amount il has re￿iVed as advanced payments for the goods or services it must provide.
Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted al the pre-tax discount rale that reflects the risks specific lo the liability. The
unwinding of the discoLJnl is re¢oynised in the Statement of financial a¢livilies as a finance cost.
2.7 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised al Iransa¢tion valuè and subsequently
measured al their selllemenl value with the exception of bank loans which are subseqLJenlly
measured al amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use al the discretion ol the Trustees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Reslricled funds are funds which are to be used in accordance with specifie reslriclions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is sel out in the note5 to the financial stalemenls.
Page 8
Griffin Stone Moscmp & Co

Docusign Envelope ID. 976679CM72C-4DC4-99F7-BB1AE2D7AA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from donations and legacies
Restrlcted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Grants
145,0001
43,446
11,5541 4,496,847
Tolal 2022
4,396,072
100, 775
4,496,847
Analysis of grants
Grants to
Institutions
2023
Total
funds
2023
Total
funds
2022
Grants
145,0001
145,0001
4,396,072
Total 2022
4,396,072
4,396,072
The Company has made the following material grants to inslilulions during the year..
2023
2022
Name of institution
One Acre Fund - Kenya Project
One Acre Fund - Rwanda Project
One Acre Fund - Malawi Project
One Acre Fund - Kenya, Rwanda, Tanzania
146,0001
150,000
90,000
100,000
4,056,072
{45,0001
4,396,072
Page 9
Grlffin Stone Moscrop & Co

Docusign Envelope ID.. 976679C&672C4DC¢99F7-BB1AE2D7AA1F
ONE ACRE UK LIMITED
A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expondlture on charitable activities
Summary by fund type
Re$tricled Unrestricted
funds
funds
2023
2023
Total
2023
Total
2022
Charitsble activities
145,0001
27,014
117,9861 4,467,321
Total 2022
4,396,072
71,249
4,467.321
Analysis of expenditure by activitie5
Grant
funding of
activilies
Support
costs
2023
Total
funds
2023
Total
funds
2022
2023
Charitable activities
145,0001
27,014
117.9861 4,467,321
Total 2Q22
4.396.072
Tl,249
4.467,321
Analysis of support costs
Total
funds
2023
Tolal
funds
2022
Activities
2023
Staff costs
Bank charges
Professional fees
Difference on foreign exchange
13,629
568
3,777
9,040
13,629
568
66,415
677
3,777
9,040
4, 757
27,014
27.014
71,249
Page 10
Griffin Stone M05crop & Co

Docusign Envelope ID. 976679¢5472C-4C)C4-99F7-BB1AE207AA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Staff costs
2023
2022
Wages and salaries
13,629
66,415
13,629
66,415
The Company employed two staff - however il applied the cost allocation methodology lo determine st8ff
cosls based on staff lime.
No employee ￿e￿iVed remuneration amounting to more than £60,000 in either year.
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022- £NIL).
During the year ended 31 December 2023. no Trustee expenses have been incurred (2022- £NIL).
Debtors
2023
2022
Due after more than one year
Grants receivable
3,545,567
3,324,435
3,545.567
3,324,435
Due within one year
Grants re￿1vable
40.385
1,001,214
3,585,952
4,325, 649
Page11
Griffin Stone Moscrop & Co

Docusign Envelope ID.. 976679C&672C4DC4.99F7-BB1AE2D7A41F
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. Crodltors- Amounts falling due withln one year
2023
2022
Other creditors
1,872,846
1.067,396
11. Creditors: Amounts falling due after more than one year
2023
2022
other ¢￿dItorS
1,939,207
3,324.435
12. Financial instruments
2023
2022
Flnancial assets
Financial assets measured al fair value through income and expenditure
277,402
101,051
Financial 8s5els measured al fair value through income and expenditure comprises cash al bank.
Page 12
Griffin Stone Moscrop & Co

Docusign Envebpe10'. 976879CS_672C_4DC4.99F7.BB1AE2D7AAIF
ONE ACRE UK LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Statement of funds
Statement of funds - current year
Balance at
31
Balance at 1
January
2023
December
2023
Income Expenditurg
Unrestricted funds
General Funds
34.869
43,446
127,0141
51,301
Restrlcted funds
One Acre Fund
45,0001
45,000
Total of funds
34,869
11,5541
17.986
51,301
In the prior year 120221, a UK based foundation granted a lolal of £150,000 towards One Acre Fund
programmes in Kenya. In 2023. the partners of the foundation agreed to re-purpose funds towards
projects positioned lo deliver against charitable adivilie5 and this grant was revised. A5 a result, £45,000
previously recognised as income in 2022 was repaid and the corresponding liability has been redu￿d.
Page 13
Griffin stone Moscrop & Co

Docusign Envelope ID.. 976679C5-672C4DC4-99F7-BBIAE2D7AAIF
ONE ACRE UK LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Statement of funds Icontinuedl
Statement of funds - prlor year
Balance al
31
Dgcember
2022
Balance at
l January
2022
Incorne Expendilu
Unrestricted funds
General Funds
5,343
100, 775
(71,249)
34.869
Restricted funds
One Acr& Fund
4,396,072 (4,396,072)
Total of funds
5,343
4,496.847 (4,467,321)
34,869
14.
Summary offund$
Summary offunds- currentyear
Balance at
31
December
2023
Balance at 1
January
2023
Income Expenditure
General funds
Reslricled funds
34,869
43,446
{45,0001
127,0141
45,000
51,301
34,869
11,5541
17,986
51,301
Page 14
Griffln Stone M05crop & Co

Docusign Envelope ID.. 976679C5472C-4DC4-99F7-881AE2D7M1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
14.
Summary of funds l¢ontinuedl
Summary offunds- prioryear
Balance al
31
December
2022
Balance al
l Jartuary
2022
Income Expenditure
General funds
Restricted funds
5,343
100, 775
(71,249)
4,396,072 (4,396,072)
34,869
5,343
4,496,847 (4,467,321)
34,869
15. Analysis of net assets between funds
Analysis of net assets between funds- current year
Unr&stricted
funds
2023
Total
fund5
2023
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
3.545,567
3.545,567
317,787
317,787
11,872,846) 11,872,846)
11,939,207) 11,939,207)
Total
51,301
51,301
Allalysis of net assets between funds - prlor year
R8slricl&d Unreslricted
funds
funds
2022
2022
Total
fuft?ds
2022
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
3,324,435
975, 769
(975, 769)
(3,324,435)
3,324,435
126,496
7, 102.265
(91,627) (7,067,396)
(3,324,435)
Total
34,869
34.869
Page15
Grlffin Stone Moscrop & Co

Docusign Envebpe ID.. 976679C5-672C4DC4-99F7-BB1AE2D7AA1F
ONE ACRE UK LIMITED
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. Related party transactions
The charity TeceNes grants lo invest in the programs of a related charity organizalion One Acre Fund in
Africa,. which provide high-qualily farm inputs and training, among other activities, lo irnprove farmers,
crop yields.. which farmers in turn use to reduce hunger and poverty in their households. Al the balan¢e
sheet dale, amounts lolalling £3,708,904 were payable lo One Acre Fund12022- £4,300.2041.
Other staff and operational costs of £103,14912022 £91,6271 were also payable lo One Acie Fund al
the balance sheet date.
Page16
Griffin Stone Noscrop & Co
CH￿7[HED￿C0JKTth151￿E￿TE&￿￿LUfAiC￿S