CHARITY REGISTRATION NUMBER: 1153361
African Adventures Foundation Unaudited Financial Statements 31 October 2024
JOHNSTON WOOD ROACH LIMITED
Chartered accountants 24 Picton House Hussar Court Waterlooville PO7 7SQ
African Adventures Foundation
Financial Statements
Year ended 31 October 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
African Adventures Foundation
Trustees' Annual Report
Year ended 31 October 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 October 2024.
Reference and administrative details
Registered charity name African Adventures Foundation Charity registration number 1153361 Principal office Unit 4 Crescent House Yonge Close Eastleigh SO50 9SX Hampshire The trustees Mr D M Mew (Resigned 14 August 2024) Mrs R Northover (Resigned 14 August 2024) Miss C F Nolan (Resigned 14 August 2024) Mr C Smith (Appointed 14 August 2024) Mr A Reece-Thompson (Appointed 14 August 2024) Mr E Hoyle (Appointed 14 August 2024) Independent examiner Katie Wood FCCA FCA 24 Picton House Hussar Court Waterlooville PO7 7SQ
Structure, governance and management
The charity's strategy continued to focus on delivering its four key programmes across 29 partner schools: food security, infrastructure, equipment and resources, and Water, Sanitation & Hygiene (WASH).
Across Ghana, Kenya and Zanzibar, an estimated 26,000 student benefit from programmes that the charity delivers.
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African Adventures Foundation
Trustees' Annual Report (continued)
Year ended 31 October 2024
Objectives and activities
Food security:
Our food security programme is delivered in six of our partner schools in Kenya. Each child who attends one of these six Kenya partner schools receives two free, basic meals a day. To combat hunger and improve school attendance, we provided over 553,280 nutritious meals to 1,230 children each month. The charity intends to expand and improve provision further in future.
Infrastructure:
Overcrowded and poorly maintained classrooms are a major issue in many of our partner schools. With generous donor support this year, we built, repaired or refurbished 47 classrooms under-resourced schools, creating safe, welcoming spaces for thousands of students. These new facilities have not only improved learning conditions but also encouraged increased school enrolment.
Equipment and resources:
Beyond bricks and mortar, the charity supports its partner schools with one-off grants for any items required to run a school; from desks and learning materials to kitchen utensils and IT hardware.
WASH:
Following the success of our flagship Not Just A WASHroom programme in Zanzibar, which was delivered across three schools and has benefitted over 8,000 children, the charity successfully delivered the same programme in its first partner school with similar challenges in Ghana. This project, completed in March 2024, has benefitted 890 students and teachers at a school in the Volta region. The charity has funds in place to deliver the programme to a second school in Ghana.
The charity's menstrual health programme, called The Good Period, provided over 5,000 sanitary kits to girls in Ghana and Kenya. The charity has active plans to expand provision to other girls in need.
Achievements and performance
Funding:
The charity continued to receive substantial support from African Adventures Ltd, which provides free office space, staff time and significant financial assistance to help minimise the administrative costs to the charity.
The charity achieved a greater diversification of grant income in this financial year by focusing fundraising efforts on a broader variety of grant giving organisations.
Groups and individuals that travel with African Adventures Ltd once again contributed significantly to the charity's income.
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African Adventures Foundation
Trustees' Annual Report (continued)
Year ended 31 October 2024
Financial review
Income
During the year ended 31 October 2024, the charity's total income was £279,396 (2024: £218,812). The majority of this income came from African Adventures Ltd, grant income and individual donations. This represents an increase of 8% compared to the previous year, mainly due to a higher number of volunteers travelling with African Adventures Ltd and an increase in the number of grants obtained.
Expenditure
Total expenditure for the year was £293,078 (2024: £187,037). The substantial increase reflects the increased about of development work delivered at the charity's partner schools in Africa, and is in line with the charity's policy of ensuring funds are spent efficiently where needed.
Reserves Policy
The trustees aim to maintain free reserves at a level equivalent to three months' core operating costs. At year end, free reserves stood at £44,202, which is in line with our policy and provides a prudent buffer against unforeseen income shortfalls or emergency expenditure.
Financial Position
The charity remains in a stable financial position with no outstanding debts. All restricted funds have been applied in accordance with donors' wishes. Looking ahead, the trustees recognise the need to diversify income streams to reduce reliance on grants, and a new fundraising strategy will be launched next year.
Going Concern
The trustees have reviewed the charity's financial position and cash flow forecasts and consider there are adequate resources to continue operations for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr C Smith Trustee
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African Adventures Foundation
Independent Examiner's Report to the Trustees of African Adventures Foundation
Year ended 31 October 2024
I report to the trustees on my examination of the financial statements of African Adventures Foundation ('the charity') for the year ended 31 October 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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 to enable a proper understanding of the accounts to be reached.
Katie Wood FCCA FCA Independent Examiner
24 Picton House Hussar Court Waterlooville PO7 7SQ
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African Adventures Foundation
Statement of Financial Activities
Year ended 31 October 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 97,216 | 182,180 | 279,396 | 218,812 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 97,216 | 182,180 | 279,396 | 218,812 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Donated support costs | 5 | 75,000 | – | 75,000 | 45,000 |
| Expenditure on charitable activities | 6,7 | 19,339 | 198,739 | 218,078 | 142,037 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 94,339 | 198,739 | 293,078 | 187,037 | |
| ============================ | ================================ | ================================ | ================================ | ||
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net (expenditure)/income | 2,877 | (16,559) | (13,682) | 31,775 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Transfers between funds | (7,993) | 7,993 | – | – | |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net movement in funds | (5,116) | (8,566) | (13,682) | 31,775 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 14,444 | 43,440 | 57,884 | 26,109 | |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 9,328 | 34,874 | 44,202 | 57,884 | |
| ============================ | ================================ | ================================ | ================================ |
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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African Adventures Foundation
Statement of Financial Position
31 October 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 12 | 50 | 4,400 |
| Cash at bank and in hand | 45,863 | 54,894 | |
| ---------------------------- | ---------------------------- | ||
| 45,913 | 59,294 | ||
| Creditors: amounts falling due within one year | 13 | 1,711 | 1,410 |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 44,202 | 57,884 | |
| ---------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 44,202 | 57,884 | |
| ---------------------------- | ---------------------------- | ||
| Net assets | 44,202 | 57,884 | |
| ============================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | 26,881 | 43,440 | |
| Unrestricted funds | 17,321 | 14,444 | |
| ---------------------------- | ---------------------------- | ||
| Total charity funds | 14 | 44,202 ============================ |
57,884 ============================ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mr C Smith Trustee
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African Adventures Foundation
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Unit 4, Crescent House, Yonge Close, Eastleigh, SO509SX, Hampshire.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a small entity under FRS 102 section 7.1B, and therefore is not required to prepare a cash flow statement.
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African Adventures Foundation
Notes to the Financial Statements (continued)
Year ended 31 October 2024
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts. Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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African Adventures Foundation
Notes to the Financial Statements (continued)
Year ended 31 October 2024
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Donations - General | 20,659 | – | 20,659 |
| Donations - Kenya unrestricted | 967 | – | 967 |
| Donations - Gift aid unrestricted | 590 | – | 590 |
| Donations - Kenya restricted | – | 108,920 | 90,153 |
| Donations - General restricted | – | 17,282 | 17,282 |
| Donations - Ghana restricted | – | 55,071 | 55,071 |
| Donations - Zanzibar restricted | – | 207 | 207 |
| Other donations and legacies | |||
| Donated Services & facilities | 75,000 | – | 75,000 |
| ---------------------------- | -------------------------------- | -------------------------------- | |
| 97,216 | 182,180 | 279,396 | |
| ============================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations - General | 27,849 | – | 27,849 |
| Donations - Kenya unrestricted | 20 | – | 20 |
| Donations - Gift aid unrestricted | 1,423 | – | 1,423 |
| Donations - Kenya restricted | – | 32,387 | 32,387 |
| Donations - General restricted | – | 33,602 | 33,602 |
| Donations - Ghana restricted | – | 38,221 | 38,221 |
| Donations - Zanzibar restricted | – | 40,310 | 40,310 |
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African Adventures Foundation
Notes to the Financial Statements (continued)
Year ended 31 October 2024
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Other donations and legacies | |||||
| Donated Services & facilities | 45,000 | – | 45,000 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 74,292 | 144,520 | 218,812 | |||
| ============================ | ================================ | ================================ | |||
| 5. | Donated support costs | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donated Services & facilities | 75,000 | 75,000 | 45,000 | 45,000 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 6. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| General | 10,883 | – | 10,883 | ||
| Kenya unrestricted | 8,079 | – | 8,079 | ||
| Kenya restricted | – | 92,692 | 73,925 | ||
| General restricted | – | 8,471 | 8,471 | ||
| Ghana restricted | – | 90,168 | 89,468 | ||
| Zanzibar restricted | – | 2,871 | 2,871 | ||
| Restricted fund | – | – | – | ||
| Support costs | 377 | 4,537 | 4,914 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 19,339 | 198,739 | 218,078 | |||
| ============================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| General | 14,912 | – | 14,912 | ||
| Kenya unrestricted | 546 | – | 546 | ||
| Kenya restricted | – | 56,281 | 56,281 | ||
| General restricted | – | 14,251 | 14,251 | ||
| Ghana restricted | – | 6,402 | 6,402 | ||
| Zanzibar restricted | – | 46,461 | 46,461 | ||
| Restricted fund | 362 | – | 361 | ||
| Support costs | 1,379 | 1,443 | 2,823 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 17,199 | 124,838 | 142,037 | |||
| ============================ | ================================ | ================================ |
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African Adventures Foundation
Notes to the Financial Statements (continued)
Year ended 31 October 2024
7. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| General | 10,883 | 4,710 | 15,593 | 16,291 |
| Kenya unrestricted | 8,079 | – | 8,079 | 546 |
| Kenya restricted | 92,692 | 126 | 92,818 | 56,335 |
| General restricted | 8,471 | 45 | 8,516 | 15,625 |
| Ghana restricted | 90,168 | 23 | 90,191 | 6,410 |
| Zanzibar restricted | 2,871 | 10 | 2,881 | 46,469 |
| Restricted fund | – | – | – | 361 |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | |
| 213,164 | 4,914 | 218,078 | 142,037 | |
| ================================ | ======================= | ================================ | ================================ |
8. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2024 | Total 2023 | ||
| £ | £ | £ | ||
| General office | 4,914 | 4,914 | 1,413 | |
| ======================= | ======================= | ============== | ||
| 9. | Independent examination fees | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 200 ============== |
200 ============== |
10. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
12. Debtors
2024 2023 £ £ Trade debtors 50 4,400 ============== =======================
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African Adventures Foundation
Notes to the Financial Statements (continued)
Year ended 31 October 2024
13. Creditors: amounts falling due within one year
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade creditors | 91 | – | ||
| Accruals and deferred income | 1,620 | 1,410 | ||
| ----------------------- | ----------------------- | |||
| 1,711 | 1,410 | |||
| ======================= | ======================= | |||
| Analysis of charitable funds | ||||
| Unrestricted funds | ||||
| At | At | |||
| 1 November | 31 October | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| General funds | 14,444 | 97,216 | (94,339) | 17,321 |
| ============================ | ============================ | ============================ | ============================ | |
| At | At | |||
| 1 November | 31 October | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| General funds | 2,351 | 74,292 | (62,199) | 14,444 |
| ======================= | ============================ | ============================ | ============================ | |
| Restricted funds | ||||
| At | At | |||
| 1 November | 31 October | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| Restricted Funds | 43,440 | 182,180 | (198,739) | 26,881 |
| ============================ | ================================ | ================================ | ============================ | |
| At | At | |||
| 1 November | 31 October | |||
| 2022 | Income | Expenditure | 2023 | |
| £ | £ | £ | £ | |
| Restricted Funds | 23,758 | 144,520 | (124,838) | 43,440 |
| ============================ | ================================ | ================================ | ============================ |
14. Analysis of charitable funds
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African Adventures Foundation
Notes to the Financial Statements (continued)
Year ended 31 October 2024
15. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Current assets | 11,684 | 34,229 | 45,913 |
| Creditors less than 1 year | (1,711) | – | (1,711) |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| Net assets | 9,973 | 34,229 | 44,202 |
| ============================ | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Current assets | 8,505 | 50,788 | 59,293 |
| Creditors less than 1 year | (1,409) | – | (1,409) |
| ----------------------- | ---------------------------- | ---------------------------- | |
| Net assets | 7,096 | 50,788 | 57,884 |
| ======================= | ============================ | ============================ |
16. Related party disclosures
African Adventures Foundation Ltd
African Adventures Foundation is the official charity of African Adventures Ltd. African Adventures Ltd is a tour operator specialising in volunteer trips, and is ultimately controlled by Dan Mew, who also serves as a member of the board for African Adventures Foundation. The company contributes staff time to help organize fundraising events for the charity, and to support its day-to-day running. It is estimated that had African Adventures Foundation needed to pay for this support, it would have cost £75,000 (2024: 45,000). It is therefore deemed that these are donated services, which is represented under donated services and expenditure.
DPM Investments Ltd
Daniel Mew, a trustee in the year until August 2024 of African Adventures Foundation is a Director of DPM Investments Ltd, which made donations to the charity in the year totaling £1,200 (2023: £800). Donations were not made to infer any form of benefit to DPM Investments Ltd.
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Signed by Cameron Smith using authentication code SkUxXCp4KCh8eVlB at IP address 86.12.225.98, on 2025/08/28 14:15:13 Z.
Cameron Smith's e-mail address is: cameron.smith@africanadventures.co.uk.