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 2024 Gsfd&co Griffi In S:-: - Ytys£rop & Co 100 YEARS
Docuslgn Envelope ID.. 49C903CE-FBD440D3-ABS14og1BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarantee) CONTENTS Page Rof6renc8 and admlnlstratlve details of the Company, Its Trustees and advlsers Trustees, r&port Independent examiner's report Statement of financial activities Balanco sheel Notes to the flnanclal statements 10-19 Grlffln Stone Moscrop & Co (ER>cCN4NTS&sTFRE9JDlTCA1S
Docu8lgn Envelope ID.. 49C903CE-FBD4-40D3-AB51-8091BD2B3CEB ONE ACRE UK LIMITED IA company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Matth8w Forti, Chair Kanini Mutooni (resigned 9 February 2024) Saul Sutkover Morris Dr Sl8phen Lon8dale Wiggins Pooja Mall Sonny Bardhan Suv8er Kothari Titianne Dond6 (appointed S February 2024) Company reglstered number 8150121 Charity reglstered number 1153193 Registered office Kemp House 152-160 Clty Road London EC1V 2NX Accountants Griffin Ston8 Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit street London WC1N 3GS Page 1 Grlffln Stone Moscrop & Co CHPKfWDACcOLNFANAEGl3TDuDITOS
Docuslgn Envelope ID.. 49C903CE-FBD440D3-AB51-8091 BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees Ihrough their selected representative, present their annual report together with the fihancial statements of the Company for the period from 1 January 2024 to 31 December 2024. The Annual report serv8S the purpose8 of both a Trustées, report and a directors, report under company law. The Trusteas, through their selected representative, confirm that the Annual report and financial statemants of the charitable company comply with the current statutory requirem8nts, the r8quirement5 of the charitable company's governing document and the provisions of the Ststement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} leffeclive 1 January 2019). Since the Company qualifies as small under section 382 of th6 Companies Act 2008, the Strategic report required of medium and large companies under the Companies Act 2006 (strategic Report and Directors, R@portl Regulations 2013 has been omitted. Objecttves and activities a. PollGles and objeGtives The charitable purposes of One Acre UK Limited are,, Prevention or relief of poverty or financial hardship in Africa by providing items and seNices to individual8 or families in need, or other organizations working to prevent or relieve povety,. The advancement of education and training; Promotion of sustainable development for the benefit of the chronically hungry African fann families. In setting objectiV8s and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity {PB2)'. b. Grant-making policies During the year 2024, OA UK Lld raised grant funding amounting to £251,998. The donations received are used as directed by the agreements with the respective donors. Achiavaments and performance a. Maln a¢hlevements of the Company In 2024, One Acre UK continued ils efforts to prevent and relieve poverty among Africa's chronically hungry smallholder fami families. The charity achieved this objective by raising donations from individuals and institutions to invest in the programmes and initiatives of our related charity organization One Acre Fund, all of which take place on the African continent. This programming provides high-quality fan inputs and training, among other 8Ctivities, to improve farmers, crop yields and resilience over time, reducing hunger and poverty in some of the most vulnerable households in the worfd. In 2024, the average famier reached by One Acre UK'S cor8 programm8 was able to achieve $102 in new profits and assets, equiv8lent to a 360/D increase in income on supported land. Addilionally, through its trust8es, One Acre UK also provided important stralegic advice to management in Africa lo improve th8 effectiveness and efficiency of its programmes and broader operations. Pag8 2 Grlffln Stone Moscrop &Co a.L4RTEREDKcNTANTs&.l57ERwLr
Docuslgn Envelope ID.. 49C903CE-FBD440D3.AB51-8091 BD2B3CEB ONE ACRE UK LIMITED {A company limited by guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achi•v6ments and perfonnance (continued) b. Revlew of activltles During the financial year 2024, the charity recorded incorne of £261,036 and expenditurg of £276,638 for normal operation. Financial review a. Going concern After makin9 appropriate enquiries, the Trustees have a reasonable expectation that the CDmpany has adequate resources to continue in operational existence for the foreseeable futur8. For this reason, they continue to adopt thè going concern basis in preparing the financial stalem8nts. b. Reserv88 poII¢y One Acre UK Limited shall avoid a negativ& net asset position on its balance sheet. The fundraising team will strive to raise funds to cover all the oparating costs, and in the unlikely event a shortfall in a given year puts One Acre UK Limited at risk cf negative net assets, One Acre Fund US, Ihe related charitabl8 8nttiy, will cover the expenses for that pariod or exlend said funds to One Acre UK Limited. Structure, governance and management a. Constitution One Acrg UK Limited is registered as a charitable company limited by guaranlee and was $8t up by a Memorandum of Association. b. Methods of appointment or election of Trustees The oversight of th8 Company is the r8sponsibility of the Trustees, who are elect8d by the exisiting Trustees and Co-opted under the terms ofthe Memorandum of Association, Plans for futuro periods One Acre UK intends to pursu& the same strategy in 2025 and beyond, as it did in 2024 and previously. That is to say, One Acre UK will mobilize grant resources from UK and intemational donors and deploy those résources to support African smallhoSder farmers to increase their crop yields. and in turn, reduce hung8r and poverty in their households. Additionally, One Acre UK will continue to provide strategic counsel to management in programme countries to improve the effectiveness and efficiency of its programmes and broader operations. One Acre UK does recognize that 2024 wasn't a strong year for fundraising compared to the previous year., hence, ths organization will continue operating at prudent staffing levels. Page 3 Grlffln Stone Moscrop & Co CH4KtEREDACCCUNTANIS&FEGISIEREDAW
Docusign Envelope ID,, 49C903CE-FBD440D3-AB51-8091BD2B3CEB ONE ACRE UK LIMITED {A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustoas. responsibilities Th8 Trustees (who are also the dir8Ctors of the Company for the purposes of company law) ar8 responsible for preparing the Truste8s' report and the financial statements in awofdance with applicable law and UnTÈed Kingdom Accounting Standards (United Kingdom Ganerally Accept6d Accounting Pracfii¢e). Company law requires the Trustees to prepare financial statements ft)r 6ach financial year. Under company law, the Truslees must not approve the financial stat8ments unl8SS they are satisfied that Ihey give a true and fair Vi8w of the statè of affairs of the Cctmpany and of its incoming resources and applicalion of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to., select suitable accounting policies and then Spply them consistently; observe the methods and principles of the Charilies SORP (FRS 102)., make judgmenls and accounting eslimates that are reasonable and prudent,, state whether applicable UK Accounting Standards (FRS 102) have been followed, subject lo any material departures disclosed and explained in the financial statements; prepare the financial statgments on th6 going concern basis unless it is inappropriate to presume that the Company will continue in business. The TNstees are responsible for keeping adequate accounting records that are sufficient to show and explain the Companls transactions and disclose with reasonable 8ccuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prev&ntion and d8t8Ction of fraud and other irregularifies. Approved by representative of the board of Trustees on 21 July 2025 and signed on behalf of all Truste8s'. Matthew Fortl Trustee Page 4 Griffin Stone Moscrop & Co CHPMFffiLDXfoLNTPElEDAUE¥TOR5
Docusign Envelop@ ID.. 49c903GE-FBD4-40D3-AB51-8091 BD283CEB ONE ACRE UK LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examiner's report to the Trustees of Ona Acr8 UK Llmlted I'the Company,) I report to the charity Truslees on my examination of the accounts of the Company for the year ended 31 December 2024. Responslbllities and basis of report As the Trustees ofthe Company (and its direclor8 for the purposes of company law) you are responsible for the preparation cf the accounts in accordance with the requirements cf th8 Companies Act 2006 ('the 2006 AGI,). Having satisfied myself that th8 accounts of the Company are not required to be audited under Part 16 of the 2008 Act and are eligible for independent examination, I report in respect of my examin8tion of the Company's accounts carried out under section 145 of the Charities Act 2011 {'the 2011 Act'l. In carrying out my examination I hav8 follow6d the Directions giv8n by the Charity Commission under s8ction 145(5)(b) of Ihe 2011 Act. Page 5 Grlffln stone Moscrop & Co ¢H4RTEPEDAcCMTANt5®TED.
Docusign Envelope ID.. 49C903CE-FBD4-40D3-AB51-8091 BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinerfs statement Since the Companws gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have compleled my examination. I confirm that no matters have come to my attention in connection with the examination giving me Cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act oth8r than any requirement that the accounts give a 'true and fairf view which is not a matter consid8r8d as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prsctice for accounting and reporting by Charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Page 6 Griffln St'one Moscrop &Co Q.L&RTEP[DACCOUNTANTS&REQ5TFRWDr[oPS
Docuslgn Env61ope ID-. 49C903CE-FBD4-40D3-AB51-8091 BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This report is made solely to the Companys Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matter5 1 am required to State to them in an Independent examiner's report and for no other purpose. To the fulles1 extent permitl8d by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed.. Dated.. 23 July 2025 Robert Smith FCA Griffin Stone Moscrop & Co 21-27 Lamb's CondutE street London WC1 N 3GS Page 7 Griffin Stone Moscrop & Co cH*RTEREDP£CNTMNTs.GlRwUXTQ1
Docuslgn Envelope ID.. 49C903GE.FBD4-40D3-AB61-8091 BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 R68trlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total ftjnds 2023 Note Income from: Donations and legacies Other income 231,487 20,511 9,038 251,998 9,038 11,554) Total Income 231,487 29,549 261,038 (1,554) Expenditure on: Charitable activities 231,487 46,161 276,638 (17,986) Total expenditura 231,487 45,151 276.638 (17,986) Net movement in funds (15,602) (16,6021 16,432 Reconclllatlon of funds.. Total funds brought forward N8l movement in fvnds 51.301 (16.6021 51,301 (15,602) 34,889 16,432 Total funds carried forward 35,699 35,699 51,301 Th8 Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 19 form part of these financial statements. Page 8 Griffin Stone Moscrop & Co cHARTED*£CoLNrnNt5&TrES1.DAU
DoBu8lgn Envelope ID.. 49C903CE-FBD4-40DMB51-8091 BD2B3CE8 ONE ACRE UK LIMITED (A company limited by guarantee) REGISTERED NUMBER: 8150121 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Current assets Debtors Cash at bank and in hand 11 1,969,946 447,798 3,585,952 277,402 2,417,744 (1,215,887) 3,863.354 {1,872,846) Creditors.. falling due within one year 12 Net currant as86ts 1,201,857 1,990,508 Total ass8ts18ss current Ilablllties 1,201,857 1,990,508 Creditors.. falling due after more than one year 13 (1,166,158) (1,939,207) Total n&t assets 35,699 51,301 Charity funds Reslrict8d funds Unrestricted funds 15 15 35,699 51,3D1 Total fund5 35,699 51,301 The Companywas entitled to ex8mption from audit under section 477 of the Companies Act 20D6. The members have not required the company to obtain an audit for the yaar in question in accordance with Bection 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the r8quiremenls of the Act with respect to accounting records and preparation of financial statements. The financial statements have b8en prepared in accordance with the provisions applicabl8 to entities subject to the small companies regime. The financial ststem8nt8 were approved and authorised for issue by the Trustees on 21 July 2025 and signed on their behalf by.. Matthew Forti Trustee The notes on pages 10 to 19 form part of th@s& financial statements. Page 9 Grlffln Stone Moscrop & Co CHrnEDXCOwNt5®sYwDecx15
Docu8ign Envelope ID.. 49c903CE-FBD4-40D&AB51-8091 BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Informatlon One Acre UK Limited 18 a charitable company, limited by guarantee and registered with the Registrar of Companies in England & Wales (company number., 08150121) as well as the Charities Commission (charity number,, 1153193), The Registered Office address is Kemp House, 152-160 City Road, London, EC1V 2NX. Accountlng pollcles 2.1 Basls of preparatlon of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicabl8 to charities preparing their accounts in accordance with the Financial R8PCrting Standard applicable in the UK and Republic of Ireland (FRS 102) leffectiV8 1 January 201S), the Financial Reporting Standard appliGable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. One Acre UK Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially r8cogni8ed at historical cost or Iransaction value unless otheiSe stal8d in the relevant accounting policy. 2.2 Income All income 15 recognised On the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but nol exp@nd6d during the period is shown in the relevant funds on th8 Balance sheet. Where income is received in advance of entitlement of receipt, its recognilion is deferred and included in creditors as deferred incom8. Where entillement occurs before income is received, the income 18 accrued. 2.3 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 b8 required in settlement and the amounl of the cb1igation can b8 measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir8ct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attribulable to a single activity are allocaled directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity ar8 apportioned between those activities on a basis consistent with the use of r&sourc8S. Expendtlure on charitable activiti6s is incurred Dn directly undertaking the activities which further the company's objectives, as wel5 as any associated support costs. Grants payable are charged in the year when Ihe offer is made except in Ihose cases where the offer is conditional, such grants being recognised as expenditure when the condilions attaching are fulfilled. Grants off&red subject tc conditions which have not been m8t at the year end ar8 noted as a commttment, but not accNed as expendilure. All exp8nditur8 is inclusive of ]rCOVerable VAT. Page 10 Grlffln Stone Moscrop & Co CWTEREDAccWNTPNTS®ETEW£TtS
Docusign Envelope ID.. 49c903CE-FBD440D3-AB51-8091BD2B3CEB ONE ACRE UK LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Icontlnuedl 2.4 D6btors Trade and other debtors are recognised at the settlement amount after any trade discount offar6d. Prèpayments are valued at the amount prepaid nel of any trade discounts due. 2.5 Cash at bank and In hand Cash at bank and in hand includes cash and short-tem highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the dep051t or similar account. 2.6 Liabiliti88 and provislons Llabilities are recognised when there is an obligation at the Balance sheet date as a result of a past @vent, it is probable that a transfer of economic benefit will be required in s8tt18ment, and the amount of the settlement can be estimated reliably. Liabilities are r8cognised at the amount that the Company anticipalgs tt will pay to settl8 the debt or the amount it has received as advanced paym8nls for the goods or s6Nic8s il musl provide. Provisions ar8 m8asured at the besl estimate of the amounts required to Settle the obligation. Where the effect of the time value cf money is mat8rial, the provision is based on Ihe present value of those amounts, discounled al the pre-lax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.7 Flnanclal instruments The Company only has financial assets and financial liabilit18s of a kind that qualify as basic financial instruments. Basic financial instrum8nts are initially recognised at transaction value and subsequently measured at their settlem8nt value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.8 Fund accountlng Genaral funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds ar8 funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular putposes. Thè costs of raising and administering such funds are charged against th8 SP6cific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page11 Griffin Stone Moscrop & Co CWIFREDAcCQLNfAN&EGTEDALIrlS
Docuslgn Envelope ID.. 49C903CE-FBD440D3-AB5140918D2B3CEB ONE ACRE UK LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacles Restricted UnroStrict8d funds funds 2024 2024 Total funds 2024 Totsl funds 2023 Grants 231,487 20,511 251,998 (1,5541 Total 2023 {45,OOD} 43,446 (1,554) Other incomlng resource8 Unr6strict8d funds 2024 Total funds 2024 Total funds 2023 other income 9,038 9,038 Anatysis of grants Grants to In5tltutions 2024 Total funds 2024 Total funds 2023 Grants 231,487 231,487 145,0001 Total 2023 145,0001 (45,000) Page 12 Griffin Stone Moscrop & Co LF[ERED1£cOUmrAf&REQ5YEREDDrnP5
Docusign Envelope ID.. 49C903CE-FBD440D3-AB51-8091 BD2B3CEB ONE ACRE UK LIMITED (A company Ilmited by guarant88} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of grants (continued The Company has made the following material grants to institutions during the yesr. 2024 2023 Name of Instltutlon On8 Acr8 Fund - Kenya Project One Acre Fund - Rwanda Project 202.568 28,919 145,000) 231,487 (45,0001 Analysis of exp8nditure on charitable activities Summary by fund type Restrlcted Unrestrlcted funds funds 2024 2024 Total 2024 Total 2023 Charitable activlties 231,487 45,151 276,638 (17,986) Total 2023 (45,000) 27,014 {17,986) Analysis of expenditure by activities Grant fundlng of aGtivltles 2024 Support costs 2024 Total funds 2024 Total funds 2023 Charitab18 activities 231,487 45,151 276.638 (17,9861 Total 2023 {45,000) 27,014 (17,9861 Page 13 Griffin Stone Moscrop &Co (PLWEREDNLEoUTrifANIS8QERAUDFt0S
Docusign Envelope ID.. 49C903CE-FBD440D3AB51-8091 B02B3CEB ONE ACRE UK LIMITED (A company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of axpendlture by actlvltl89 (contlnued Analysls of support costs Total funds 2024 Total funds 2023 Staff costs Bank charges Professional fees Difference on foreign exchange 27,097 703 16,654 697 13,629 568 3,777 9,040 45,151 27,014 Indep8ndent examinerfs r8muneration 2024 2023 Fees payable lo the Companws independent examiner for the independent examination of the Company's annual accounts 3,000 Staff costs 2024 2023 Wages and salaries 27,097 13,629 27,097 13,S29 The Company employed staff - however it applied the cost allocalion methodology lo determine staff cosls based on staff time. No employee received remuneration amounting to more than £60,000 in either year, Page 14 Griffin Stone Moscrop & Co CTEEDC(4lthTssREGlsTEREDrrok
Docusign Envelope ID= 49C903cE-FBD4-4ODBS1-SD9l BD2B3CEB ONE ACRE UK.LIMITED (A company limit6d by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Trust885' remuneratlon and expenses During th8 year, no Twst@8s received any remuneration or other benefits (2023 - £NIL}. During the year ended 31 December 2024, no Trustee axpenses have been incurred (2023- £NIL), 11. Debtors 2024 2023 Due after more than one y8ar Grants receivabl& 1,166,158 3,545,567 1,166,158 3,545,567 Due within one year Grants r8C6ivable 803,788 40,385 1,969,946 3,585,952 12. Credltors: Amounts falling du8 within one y8ar 2024 2023 Other creditors 1,215,887 1,872,846 13. Creditors: Amounts falllng due after more than one year 2024 2023 other creditors 1,166,158 1,939,207 14. Financial Instruments 2024 2023 Financlal assets Financial assets measur8d at fair value through income and expenditure 447,798 277,402 Financial assets measured at fair value through income and expenditure comprises cash at bank. Page 15 Grlffln Stone Hoscrop & Co (NRTEFFDP£CCUNTANT$Icj5REDAuDr
Docusign Envelope ID.. 49C9o3cE-FBD440D3-AB51Q9l BD2B3CEB ONE ACRE UK LIMITED (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Statement of funds Statement of funds- current year Balanco at 31 December 2024 Balanca at 1 January 2024 Income Expenditure Unrestrlcted funds General Funds 51,301 29,549 {45,151 35,699 Restricted funds One Acr8 Fund 231,487 (231.487) Total of funds 51,301 261,036 1276,6381 35,699 Restricted funds comprise the following grants.. A UK based foundation granted £28,919 towards One Acre Fund programmes in Rwanda, A UK based foundatiDn granted a total of £202,568 towards Once Acre Fund programmas in K6nya. Page 16 Grlffin Stone Noscrop &Co a.LITERED£ccvNTANTStRE.QsTEDAUpF[oR5
Docuslgn Envolope ID.. 49G903GE-FBD440D3AB51-8091BD2B3CEB ONE ACRE UK LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Statement of funds {contlnued) Statement of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expendlture Unreslrieted funds General Funds 34,869 43,446 (27,014) 51,301 Restrict8d f unds One Acre Fund (45,000) 45,000 Total of funds 34,869 11,554) 17,986 51,301 In 2022, a UK bas8d foundation granted a tot81 of £150.000 towards One Acre Fund programmes in Kenya. In 2023, th8 partners of the foundation agreed to re-purpose funds towards projects positioned lo deliver against charitsble adivities and this grant was revised. As a result. £45,000 previously r8cognised as income in 2022 was repaid and the corresponding liability has b@en reduced. 16. Summary of funds Summary of funds- current year Balance at 31 Decemb8r 2024 Balance at 1 January 2024 Income Expendlture General funds Restricted funds 51,301 29.549 231,487 {45,151) {231,487) 35,699 51,301 261,036 {276,638) 35,699 Page 17 Griffln Stone M05crop & Co (FlIR#CcUulifATr18PEs5fERJDlTo
Docu81gn Envelop8 ID.. 4gC903CE-FBD4-40D&AB51.8091BD2B3CEB ONE ACRE UK LIMITED (A company limited by guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Summary of funds {contlnuedl Summary of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Gener81 funds Restricted funds 34,869 43,446 (45,QOO) 127,014) 45,000 51,301 34,868 11,554) 17,986 51,301 17. Analysis of net assets between funds Analysis of net assets between funds - current perlod Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 Debtors due after more than one year Current assets Creditors due within one year Creditors due in More than one year 1,166,158 1,166,158 1,016,324 235,282 1,251,586 11,016,324} (199,5631 11,215,887) 11,166,158) (1,166,158} Total 35,699 35,699 Analysis of net assets between funds - prlor perlod Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Debtors due after more than one year Current assets Credilors due within one year Creditors due in more than one year 3,545,567 3,545,567 163,337 154,450 317,787 (1.789,697} (103,149) {1,872,846) (1,939,207) 11,939,207) Total 51,301 51,301 Page 18 Grlffln Stone Moscrop & Co [ERE0AcCrNfSIAEGTEREDALX)I[
Docuslgn Enveltspe ID.. 49C903CE-F8D4.40D3-AB51-8091 BD2B3CEB . ONE ACRE UK LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Rolated party transactions The charity receives grants to invesl in the programs of a related charily organiz81ion One Acre Fund in Africa,. which provide high-quality farm inputs and training, among oth8r activities, lo improve farmers, crop yields., which farmers in turn use to reduce hung&r and poverty in their households. At the balance sheet date, amounts tolalling £2,182,481 were payable to One Acre Fund (2023- £3,708,904). other staff and operational cosls of £199,563 {2023 £103,149) were also payable to One Acre Fund at the balance sheet date. Page 19 Grlffin Stone Moscrop & Co CH#ATEREDXCfM4TthT5&PEGsTETrALlTCx