## AFRICAN SOLUTIONS UK ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 Registered Charity No. 1153415 Company No. 08512276 ## **LFM** 17/12The Stables 23b Lenten Street Alton Hampshire GU34 1HG **AFRICAN SOLUTIONS UK FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024** |**CONTENTS**|**PAGE**| |---|---| |Legal and administrative details|1| |Report of the Trustees|2| |Independent Examiner’s Report|3| |Statement of financial activities|| |(Including income and expenditure account)|4| |Balance sheet|5| |Notes to the financial statements|6| 17 **AFRICAN SOLUTIONS UK** **LEGAL AND ADMINISTRATIVE DETAILS** **Directors/Trustees** Susan A Crewe Mbali M Thubisi Patricia Dlamini Michelle Davidson Samuel Hoffman Zita Lloyd Sbongiseni Vilakazi **Company Secretary** Catherine M Siebert **Registered Office** The Stables 23b Lenten Street Alton Hampshire GU34 1HG **Charity Number** 1153415 **Company Number** 08512276 **Accountants and** LFM **Independent Examiners** The Stables 23b Lenten Street Alton Hampshire GU34 1HG 1 **AFRICAN SOLUTIONS UK** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2024** The Trustees, who are also the directors of the company for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 28 February 2024. ## **Structure, Governance and Management** ## _**Status**_ African Solutions UK was incorporated as a company limited by guarantee on 1 May 2013 and registered as a charity on 15 August 2013. Its governing documents are the Memorandum and Articles of Association. ## _**Management**_ The charity is managed by its trustees who are also company directors. They are appointed by ordinary resolution or by a decision of the directors. At the third annual general meeting of the charity and also having served for five years each trustee/director is subject to reappointment by the members of the charity. A full list of trustees serving during the period is given on page 1. ## _**Risk Management**_ The trustees examine the major risks which the charity faces and seek to control these risks to mitigate any impact that they may have on the charity. ## **Objectives and Activities** The objectives of the charity are the relief of persons in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage in South Africa and Sub Saharan Africa by the establishment and operation of children’s care homes, drop-in centres, apprentice schemes and the provision of specialist advice, equipment and accommodation; and supporting the work of the ASAP Foundation (African Solutions to African Problems) a trust established in South Africa. ## **Financial Review** The charity’s net expenditure for the year ended 28 February 2024 was £3,899 (2023: net expenditure £15,820). Total funds at 28 February 2024 amounted to £4,877 (2023: £8,786). All resources expended during the year were applied in accordance with the objectives of the charity. ## **Reserves Policy** The charity’s policy is to hold unrestricted, undesignated reserves sufficient to cover three months operational expenditure. The reserves throughout the year and at the year-end have been in line with this policy. ## **Trustees' responsibilities statement** The trustees (who are also directors of African Solutions UK for the purposes of company law) are responsible for preparing the trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 17/12 This report was approved by order of the Board on ________ 2024 and signed on its behalf by: **Michelle Davidson (Director and Trustee)** 2 **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF AFRICAN SOLUTIONS UK** I report to the charity trustees on my examination of the accounts of the company for the year ended 28 February 2024 which are set out on pages 4 to 8. ## **Responsibilities and basis of report** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable 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 to enable a proper understanding of the accounts to be reached. ## **Matthew Ellis FCCA** **LFM Chartered Certified Accountants** The Stables 23b Lenten Street Alton Hampshire GU34 1HG Type text here 3 **AFRICAN SOLUTIONS UK** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2024** |**Note**
**Income and endowments from:**
Donations and legacies
5
Investments
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure) and net movement in funds
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Funds**
**£**
37,287
-
37,287
-
41,186
41,186
(3,899)
8,786
4,887|**2024**
**£**
37,287
-
37,287
-
41,186
41,186
(3,899)
8,786
4,887|**2023**
**£**
84,691
-| |---|---|---|---| ||||84,691| ||||11,786
88,725| ||||100,511| ||||| ||||(15,820)| ||||24,606| ||||8,786| All of the results derive from continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 6 to 8 form part of these financial statements. 4 **AFRICAN SOLUTIONS UK** ## **BALANCE SHEET FOR THE YEAR ENDED 28 FEBRUARY 2024** ||**Note**||**2024**||**2023**| |---|---|---|---|---|---| |||**£**|**£**|**£**|**£**| |**Current assets:**|||||| |Debtors|9|-||45|| |Accrued income||35||-|| |Cash at bank and in hand||6,352||12,821|| |||6,387||12,866|| |**Creditors:**|||||| |Amounts falling due within one year|10|(1,500)||(4,080)|| |**Net current assets**|||4,887||8,786| |Total assets less current liabilities|||4,887||8,786| |**Net assets**|12||4,887||8,786| |**Funds**|||||| |Unrestricted funds|11||4,887||8,786| |**Total funds carried forward**|||4,887||8,786| ## **Trustee statements required by the Companies Act 2006** In approving these financial statements, the trustees, who are directors for the purposes of company law, hereby confirm: - that for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006; - that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 28 February 2024; and - that we acknowledge our responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. 17/12/ The financial statements were approved by the board on ___________ 2024 and signed on its behalf by: 17/12/ ## **Michelle Davidson Director and Trustee** Company Registration Number 08512276 The notes on pages 6 to 8 form part of these financial statements. 5 **AFRICAN SOLUTIONS UK** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024** ## **1. General information** The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The company’s registered number and registered office address can be found on the Legal and Administrative Details page. ## **2. Accounting policies** The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year. ## **Basis of preparing the financial statements** The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements have been prepared under the historical cost convention and are prepared on a going concern basis. African Solutions UK meets the definition of a public benefit entity under FRS 102. ## **Going concern** The financial statements have been prepared on a going concern basis. The directors, who are also trustees for the purposes of charity law (‘the trustees’), have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the Covid19 pandemic, the trustees have ‘stressed’ their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of Covid19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. ## **Income and endowments** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - _Donations and legacies_ received by way of grants, donations and gifts are included in full in the statement of financial activities when receivable. - _Income from investments_ is included in the year in which it is receivable. ## **Expenditure** Expenditure is recognised on an accrual basis as a liability is incurred. The following specific policies are applied to particular categories of expenditure: - _Expenditure on raising funds_ is costs incurred in attracting voluntary income. - _Expenditure on charitable activities_ is costs incurred by the charity in the course of meeting its charitable aims including related governance and support costs. ## **Fund structure** The funds held by the Trust comprise: - _Unrestricted general funds –_ the ‘free’ funds held by the charity to be used in accordance with the charitable objects at the discretion of the trustees. - _Restricted funds –_ funds held to be used only for restricted purposes within the objects of the charity. Restrictions arise when specified by donors and grant making bodies or when funds are raised for particular purposes. ## **3.** ## **Legal status of the charity** The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of windingup is limited to a maximum £10. ## **4. Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 6 **AFRICAN SOLUTIONS UK** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024** ## **5. Income and endowments** |Donations and legacies – Donations|**Unrestricted**
**Funds**
**£**
37,287
37,287|**2024**
**£**
37,287
37,287|**2023**
**£**
84,691| |---|---|---|---| ||||84,691| Income and endowments from donations and legacies in 2024 and 2023 was entirely attributable to unrestricted funds. ## **6.** ## **Expenditure on raising funds** |Fundraising commission
Other expenses|**Unrestricted**
**Funds**
**£**
-
-
-|**2024**
**£**
-
-
-|**2023**
**£**
-
11,786| |---|---|---|---| ||||11,786| Expenditure on raising funds in 2024 was entirely attributable to unrestricted funds. ## **7.** ## **Expenditure on charitable activities** |**xpenditure on charitable activities**|||| |---|---|---|---| |Grant: African Solutions to African Problems (South Africa)
Bookkeeping
Accountancy
Bank charges
Secretarial fees|**Unrestricted**
**Funds**
**£**
38,500
-
2,531
155
-
41,186|**2024**
**£**
38,500
-
2,531
155
-
41,186|**2023**
**£**
82,000
4,530
1,500
454
241| ||||88,725| Expenditure on charitable activities in 2024 and 2023 was entirely attributable to unrestricted funds. ## **8. Trustee remuneration and expenses and key management personnel** The charity does not have any employees (2023: nil). No trustees or persons connected with them received any emoluments from the charity in their role as trustees (2023: nil). During the year Z Lloyd received £nil (2023: £1,694) for fundraising services provided to the charity. No individual expenses for travel and subsistence (2023: nil) were reimbursed to trustees during the year. The trustees comprised the key management personnel of the charity during the years ending 28 February 2024 and 28 February 2023. The charity did not employ any members of staff during these years. ## **9. Debtors** |Gift aid reclaim
Accrued income|**2024**
**£**
-
35
35|**2023**
**£**
45
-| |---|---|---| |||45| 7 **AFRICAN SOLUTIONS UK** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024** ## **10. Creditors** |Trade creditors
Other creditors|**2024**
**£**
-
1,500
1,500|**2023**
**£**
1,800
2,280| |---|---|---| |||4,080| ## **11. Unrestricted funds** |**Year ended 28 February 2024**
General funds
**Year ended 28 February 2023**
General funds|**Balance at**
**01/03/2023**
**£**
8,786
8,786
**Balance at**
**01/03/2022**
**£**
24,606
24,606|**Income**
**£**
37,287
37,287
**Income**
**£**
84,691
84,691|**Expenditure**
**£**
(41,186)
(41,186)
**Expenditure**
**£**
(100,511)
(100,511)|**Transfers**
**£**
-
-
**Transfers**
**£**
-
-|**Balance at**
**28/02/2024**
**£**
4,887| |---|---|---|---|---|---| ||||||4,887| ||||||**Balance at**
**28/02/2023**
**£**
8,786| ||||||8,786| ## **12. Analysis of net assets between funds** As at 28 February 2024 and 28 February 2023 the net assets of the charity were entirely attributable to unrestricted funds. ## **13. Trustees and other related parties** Details of trustee emoluments and expenses are disclosed in note 8. There are no other related party transactions to report. 17 8