Home Leone Limited
Home Leone Limited (Trading as Home Leone)
Report and Financial Statements for the year 1 May 2022 to 30 April 2023
Charity no: 1158211 Company no: 8974510
Park House Botley Road Bishops Waltham Southampton SO32 1DR
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Home Leone Limited
| Content | |
|---|---|
| s | Pages |
| Legal and Administrative Information | 2 |
| Report of the Trustees | 3 - 8 |
| Report of the Independent Examiners | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Cash Flow Statement | 12 |
| Notes Forming Part of the Financial Statements | 13-19 |
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Home Leone Limited
Legal and Administrative Information
Constitution
Home Leone is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association. Charity number: 1158211. Company number: 8974510.
Directors and Trustees
The directors of the charitable company (hereafter referred to as 'the charity') are its trustees for the purposes of charity law and throughout this report are collectively referred to as the trustees. The trustees serving during the period and since the period end were as follows:
Mr N Hyde MBE
Dr R Taylor Ms C Pither (Appointed 8 February 2023) Mr C Findlay (Resigned 8 February 2023) Dr C Thursfield Mr D Fletcher (Appointed 8 February 2023) Mr C Brecht (Appointed 8 February 2023) Mr D Ingram (Appointed 8 February 2023)
New trustees are appointed by a majority ballot of the existing trustees. The induction and training programme for new trustees comprises a detailed discussion and orientation by the Chairman. Each new trustee confirms their agreement with the founding charity documents and agrees what contribution they expect to make.
Chairman and Company Secretary
Nigel Hyde
Senior staff
Clive Thursfield Sahr Ndomhina
Registered office
Park House, Botley Road, Bishops Waltham, Southampton, SO32 1DR
Principal bankers
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Home Leone Limited
Lloyds Bank PLC UBS
Independent examiner
A J Bennewith FCA, FCPA, FFA, FFTA, DChA, FRSA, Bennewith 2018 Limited Ynot House, 3 Wey Court, Mary Road Guildford, GU1 4QU
Solicitors
Spencers Solicitors, Spire Walk, Derby Road, Chesterfield, S40 2WG
Directors Report for the Year Ended 30 April 2023
The directors, who also act as trustees, present their report with the financial statements of the charity for the year ended 30 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and the charity's Memorandum and Articles of Association. The accounts have been prepared in accordance with the accounting policies on pages 13 to14.
Purpose and Aims
Vision
To see thousands of people sustainably enabled to exit slums and living in quality homes in vibrant sustainable communities.
Mission
To establish a robust and inclusive relocation initiative, we aim to foster seven foundational elements encompassing sustainable, holistic, and affordable living. These pillars encompass low-cost housing, livelihood development, education, healthcare, reliable power, water accessibility, and sanitation facilities. Woven through these efforts is a commitment to personal development, empowering beneficiaries to seize their opportunities fully. Our ultimate aspiration is to inspire the replication of this model on a global scale, creating lasting positive change in communities worldwide.
Values
Injustice persists as people endure lives in slums, battling ill health and premature mortality. At Home Leone, we believe in the Starfish principle, where each individual we assist signifies a meaningful change. Our goal is not only to offer immediate aid but to set an example, fostering lives worthy of emulation among our staff. We prioritize personal growth, aiming to cultivate integrity, empathy, and understanding among beneficiaries, supporters, participants, and staff.
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Home Leone Limited
Sustainability remains at the core of our endeavours, ensuring that every action taken endures, benefiting communities for the long term. We operate with utmost transparency, being accountable to all stakeholders for our strategies, finances, methodologies, and the impact we achieve.
Our ethos draws inspiration from the story of the little boy on the beach, tirelessly throwing starfish back into the sea. Despite the overwhelming odds, we know that every effort counts. We strive, like the boy, to transform lives one by one. Through countless small acts of kindness, we aim to alleviate the suffering of those in some of the world's most impoverished regions, believing that these actions collectively create a substantial and impactful difference.
Purpose
The charity's purpose and aims are set out in it’s Objects included in the Company's Memorandum of Association being:
(a) The relief of poverty, sickness and distress throughout the world.
(b) The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation (and in particular in Africa) by all or any of the following means:
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(i) the provision of housing for those who are in conditions of need and the improvement of housing in the public sector or in charitable ownership provided that such power shall not extend to relieving any local authorities or other bodies of a statutory duty to provide or improve housing;
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(ii) the relief of financial hardship; (iii) the relief of unemployment; (iv) the advancement of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience;
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(v) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment charitable need through help;
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(vi) in setting up their own businesses or develop current ones; (vii) the creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;
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(viii) the maintenance, improvement or provision of public amenities; (ix) the provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances, have need of such facilities;
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(x) the protection or conservation of the environment;
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(xi) the provision of public health facilities; such other means as may from time to time be determined subject to the prior written consent of the Charity Commissioners for England and Wales."
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(c) Other such charitable purposes that are not within paragraphs (a) and (b) but are recognised as charitable purposes and may reasonably be regarded as analogous to, or within the spirit of, any purposes falling within either paragraph (a) and (b).
How our work delivers our aims
The past year has been marked by the successful methodical delivery of essential infrastructure and construction projects, all pivotal to our community-building efforts. Despite these achievements, the charity's pace has been hampered by the financial strain imposed by the COVID-19 pandemic. Education in particular has seen rapid progress.
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Home Leone Limited
Key milestones have been achieved:
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Engaging in ongoing dialogues with government officials, international business representatives, and global development communities to advocate our vision and the effective solutions being implemented to combat the dire conditions of slum living.
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Establishing operational branches in the UK, USA, and Sierra Leone with robust management information systems and controls in place.
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Formulating and delivering a relocation strategy and conceptualising a prototype village layout, encompassing the seven fundamental pillars outlined earlier. Destiny Village, now home to over 250 residents, aims to accommodate the relocation of more than 2,500 individuals.
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Collaborating with a US-based construction company to erect homes for the diaspora on separate land, providing valuable training opportunities for our workforce and advancing our sustainability objectives.
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Inaugurating pre-primary, primary and secondary schools, presently catering to over 360 students from nursery to year 9. The charity has constructed 12 classrooms, with plans for further expansion in the upcoming year.
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Accomplishing the construction of 70 low-cost homes, eight warehouses, numerous stores and shops, a connecting bridge from the village to the road, and engineering a water system connecting to the underlying aquifer. This system serves the entire village and neighbouring communities.
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Our medical facility, the "Clinic in a Can," has hosted both local clinics and international medical practitioners and developed our triage and pathway service.
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A solar farm comprising 200 panels has been installed with the assistance of overseas partners.
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We've established a brick-making factory, garage, water-bagging factory, wood and metal fabrication and construction operations.
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Sustaining corporate, university, and community partnerships, welcoming numerous groups to Sierra Leone. Participants have reported invaluable learning experiences, and we anticipate expanding these engagements in the years ahead.
The year presented significant challenges. The local currency, the Leone, experienced a considerable fluctuation from 15,800 Leones to the Pound in May 2022 to 27,000 by April 30, 2023. Operating within an economy marked by high inflation and amidst anticipation for upcoming elections in June 2023 rendered our operations notably challenging.
Principal areas of work
Home Leone's work is primarily based in Sierra Leone. We have support offices in the USA and UK.
Financial Review
Principal funding sources
Undoubtedly, the advent of COVID-19 from 2020 to 2023 significantly impeded our fundraising efforts. To ensure the sustainability of our organisation amidst these unprecedented challenges, our directors implemented prudent cost-cutting measures and other strategic actions.
Our funding primarily stemmed from various individuals and foundations, crucial for supporting infrastructure development and sustaining our operations. Additionally, the invaluable contributions of senior leaders who volunteered their services have been
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Home Leone Limited
instrumental. We express our heartfelt gratitude to each individual who has played a role in realising our vision.
In the previous fiscal year, our external construction endeavours, primarily for other NGOs, notably enhanced and accounted for 60% of our turnover. This trend did not continue in the current financial year, as four major projects concluded.
In the aftermath of the pandemic, corporate social responsibility programs have curtailed travel, resulting in limited team contributions this year. Nonetheless, we had the privilege of collaborating with three teams, one of which made a substantial dental contribution.
During 2022/23, our partnership with a US-based fundraiser yielded below-expectation results. We acknowledge this experience as a learning opportunity and intend to explore international funding avenues in the future.
Our charity persists in its commitment to being efficiently managed, ensuring that donor contributions represent excellent value for their investment.
Investment policy
Home Leone prioritises the utilization of its donation income to swiftly progress toward its objectives, aligning spending with logistical feasibility. Any surplus funds are intended to be prudently managed by placing them on deposit, seeking the most favourable interest rates attainable in the market, while ensuring the security of these funds remains paramount. However, in the current fiscal period, the absence of surplus funds precluded any investment opportunities.
Reserves policy
Home Leone has a policy to hold 2 months unrestricted expenditure in reserve. This remains a challenge as the desire to press on with the opportunities to assist the world’s poorest calls for greater resources. This is consistently monitored, and the charity continues to seek resources to fulfil its desired policy.
Plans for Future Periods
We persist in our pursuit of transformative funding capable of making a substantial difference for the Sierra Leonean impoverished communities. Our aim is to secure funding for a multitude of essential elements—more homes, thriving businesses, enhanced sports and health facilities, and additional classrooms. Moreover, we seek financial support for sustaining the operational costs of schools and healthcare until the village enterprises mature enough to be self-sustaining.
Our engagements extend to high-level collaborations with the Ministry of Planning and Economic Development and Presidential advisors, aligning our efforts with the nation's overarching development objectives. We've introduced several innovative designs, commencing the construction of our inaugural two-story house slated for completion in the upcoming financial year. Additionally, the expansion of our school, which presently boasts 12 classrooms, will witness the addition of at least three more within the next financial year.
Destiny Village remains on an upward trajectory. Governance within the village has undergone reassessment, leading to forthcoming initiatives. Anticipated in the following financial year are a few departures and an influx of new residents. Based on the initial relocation experiences, we're in the process of revising our terms and offerings for newcomers.
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Home Leone Limited
Looking ahead, we observe promising advancements in the agriculture and construction sectors. Collaborating closely with our partners, we're endeavouring to cultivate innovative livelihoods while navigating the challenges inherent in this developmental landscape.
The trustees extend heartfelt gratitude to our dedicated staff and residents, recognising their significant contributions and sacrifices in driving forward a vision of profound importance. Our staff members, ordinary individuals performing extraordinary feats in challenging environments, continue to inspire us with their unwavering commitment.
Structure, Governance and Management
Governing document
The organisation is a company limited by guarantee, incorporated on 2 April 2014 and registered as a charity on 12 August 2014. The company was established under a Memorandum of Association which established its objects and powers. In the event of the company being wound up its members are required to contribute an amount not exceeding £1. On 26 April 2019, an updated Memorandum and Articles was adopted, following a review of operations and plans.
Recruitment and appointment of directors
The directors set the course and have established the organisation. Now it has a firm foundation and is set for major growth and delivery, additional trustees, with appropriate skill and contributions were appointed in the 2022/23 financial year and a couple more are expected to be added in the forthcoming year.
Strategy and policies
Home Leone has drawn up and adopted a set of policies appropriate for an organisation of its size and reach. The governance and key policies are considered appropriate for the current size and purpose. The strategy and plans are clear based on an organic business plan. Management accounts are drawn up on a regular basis. Budgetary information is regularly updated as model village actual costs are compared to forecast, in an environment facing significant inflation and exchange rate fluctuations.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks. Detailed risk assessments are also in place for each or the charity’s operational locations and cover all aspects relating to volunteers travelling with the organisation.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
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Home Leone Limited
The law applicable to charities in England and Wales, the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in that Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities .
Statement as to Disclosure of Information to Independent Examiners
So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's independent examiners are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any information and to establish that the charitable company's independent examiners are aware of the information.
Independent Examiners
AJ Bennewith, the Charity’s Independent Examiners will be proposed to stay in post for the 2023/24 financial year.
Approved by the Trustees and signed on their behalf by
Nigel Hyde
5 December 2023
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Home Leone Limited
Independent Examiner's Report to the Trustees of Home Leone Limited
I report to the charity trustees on my examination of the accounts of the Home Leone Limited (the charity) for the year ended 30 April 2023.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charities accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants of England and Wales which is one of the listed bodies
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 accounts do not accord with those records; or
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the accounts 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.
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Institute of Chartered Accountants of England and Wales Ynot House 3 Wey Court Mary Road Guildford Surrey GU1 4QU
5 December 2023
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Home Leone Limited
Statement of Financial Activities
for the period 1 May 2022 to 30 April 2023
| Incoming resources | Unrestricted Funds 2023 |
Restricted Funds 2023 |
Total Funds 2023 |
Total Funds 2022 |
|
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Voluntary Income | |||||
| Sponsorships and donations |
223,211 | 149,986 | 373,197 | 273,050 | |
| Gifts in kind | 45,272 | - | 45,272 | 40,530 | |
| Internally generated income |
3 | 175,967 | - | 175,967 | 598,508 |
| Investment income | 173 | - | 173 | 16 | |
| Total incoming resources | 444,623 | 149,986 | 594,609 | 912,104 | |
| Resources expended | |||||
| Cost of generating voluntary income |
6 | 9,415 | - | 9,415 | 4,891 |
| Charitable activity | 5 | 518,703 | 127,226 | 645,929 | 855,405 |
| Governance activity | 6 | 6,854 | - | 6,854 | 4,035 |
| Total resources expended | 534,972 | 127,226 | 662,198 | 864,331 | |
| Net incoming/(outgoing) resources before transfers |
4 | (90,349) | 22,760 | (67,589) | 47,773 |
| Transfers between funds | 7 | (3,906) | 3,906 | - | - |
| Total funds brought forward |
15 | 801,974 | 48,711 | 850,685 | 802,912 |
| Total funds carried forward 15 |
707,719 | 75,377 | 783,096 | 850,685 |
All gains and losses in the year are included above.
The Statement of Financial Activities also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.
The notes on pages 12 to 18 form part of these financial statements
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Home Leone Limited
Balance Sheet at 30 April 2023
| 2023 | 2023 | 2022 | 2022 | ||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Notes | |||||
| Tangible assets | 8 | 948,038 | 944,357 | ||
| Current assets | |||||
| Work in Progress | 9 | 9,997 | 66,877 | ||
| Stock | 10 | 3,262 | 8,634 | ||
| Debtors | 11 | 15,118 | 116,399 | ||
| Cash at bank and in hand | 45,418 | 71,451 | |||
| 73,795 | 263,361 | ||||
| Creditors: amounts falling due within one year |
12 | (99,081) | (214,508) | ||
| Net current (liabilities)/assets |
(25,286) | 48,852 | |||
| Creditors: amounts falling due in more than one year |
13 | (139,656) | (142,525) | ||
| 783,096 | 850,685 | ||||
| Reserves | |||||
| Unrestricted funds | 15 | 707,719 | 801,976 | ||
| Restricted funds | 15 | 75,377 | 48,709 | ||
| 783,096 | 850,685 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.The trustees acknowledge their responsibilities for:
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006; and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees on 23 September 2023 and were signed on its behalf by:
Nigel Hyde 5 December 2023
The notes on pages 12 to 18 form part of these financial statements
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Home Leone Limited
Statement of Cash Flows for the Year Ended 30 April 2023
| Cash Flows from Operating Activities Note 2023 £ Net (Outgoing)/Incoming Resources (67,589) Adjustments for: Depreciation of Fixed assets Decrease/increase in WIP and other current assets Decrease/Increase in Stocks Decrease/increase in Debtors Increase/Decrease in Creditors falling due in less than one year Increase/Decrease in Creditors falling due in more than one year 8 9 11 12 13 70,640 56,880 5,372 101,280 (115,427) (2,869) Net Cash from Operating Activities 48,287 Cash Flows From Investing Activities Purchase of tangible fixed assets Net Cash from Investing Activities (74,320) (74,320) Cash Flows From Financing Activities - Net increase/ (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year (26,033) 71,451 45,418 Cash and Cash Equivalents comprise Cash at Bank and in Hand 45,418 |
2022 £ 47,773 70,335 (44,880) (3,308) (94,924) 92,425 142,525 209,946 (216,625) (216,625) |
2022 £ 47,773 70,335 (44,880) (3,308) (94,924) 92,425 142,525 209,946 (216,625) (216,625) |
|---|---|---|
| 5,000 (1,678) 73,129 71,451 71,451 |
The notes on pages 12 to 18 form part of these financial statements
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Home Leone Limited
Notes Forming Part of the Financial Statements for the year ended 30 April 2023
1. Principal accounting policies
a. Basis of preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' EFA, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
b. Incoming resources
Income from donations and grants is included in incoming resources when receivable, except as follows:
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When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.
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When donors impose conditions, which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
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When sponsorship or donations are given in respect of a trip arising in a future accounting period.
c. Resource expended
Resources expended are included in the Statement of Financial Activities on an accrual’s basis, inclusive of any VAT, which, as a charity, cannot be recovered. Certain expenditure is directly attributable to specific activities and is included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories according to the nature of the cost.
d. Cost of generating voluntary income
These include those costs incurred with third parties in the UK who promote fund raising, including events.
e. Governance activity
These represent costs incurred in managing the charity, its organisational administration and compliance with constitutional and statutory requirements.
f. Gifts in kind
The charity receives a multitude of gifts. In particular, it sent its two containers of tooling, equipment and a variety of materials to Freetown. As a conservative estimate, the directors have estimated the market value of these items to be £45,272 (2022 - £40,530).
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Equipment and assets given to the charity are assessed at market value at the time of receipt.
g. Tangible fixed assets
Assets intended for continuing use by the charity are capitalised at cost. Depreciation is provided at the following rates, in order to write off each asset over its estimated useful life:
Freehold Land - Not depreciated Buildings - Containers -10 years, buildings - 25 years Enterprise Assets - 3 years straight line - Office Equipment 3 years straight line Motor Vehicles - 3 years straight line
h. Work in Progress
Work in Progress comprises partly completed buildings. It is based on the cost to the end of the year that has been spent to get each building to that current state of completion. When complete and commissioned, each building is transferred to fixed assets.
i. Stock
Stock comprises bricks, water bag materials, fuel and cement and are valued at the lower of cost and net realisable value.
j. Fund accounting
Funds held by the charity are either:
Unrestricted funds : These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds : These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
k. Foreign currencies
Transactions in foreign currencies are translated at rates prevailing at the date of transaction. Balances denominated in foreign currencies are translated at the rate prevailing at the year end.
l. Investments
The company has limited funds to invest and as such, makes an appropriate use of resources by applying to the charitable purpose at the earliest opportunity. When additional funds are available, it places them on deposit with regards to return and security.
2. Legal status
The company is limited by guarantee. The maximum contribution required by members of the company is an amount not exceeding £1 in the event of the company being wound up. Under the Memorandum and Articles of Association, any surplus of assets over liabilities on winding-up cannot, under any circumstances, be distributed to the trustees, but shall be
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given or transferred to some other charity or charities with similar objects to those of Home Leone.
3. Internally Generated Income
A core pillar of Home Leone’s vision is to build enterprises to enable the village to create livelihood opportunities and employment. This year saw income from these activities including, brick making, a garage, a water bagging plant, construction, metal and wood fabrication.
4. Net incoming resources
The net incoming resources are stated after charging:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Independent Examiners' remuneration | 5,742 | 5,279 | |
| Depreciation - owned assets | 70,640 | 70,335 | |
| Directors' emoluments and other benefits | 6,322 | 6,250 |
5. Charity’s Activities Costs
| Direct | Support costs | Total | Total | ||
|---|---|---|---|---|---|
| costs | 2023 | 2023 | 2022 | ||
| 2023 | (See note 6) | ||||
| £ | £ | £ | £ | ||
| Help | and Development | 645,929 | 16,269 | 662,198 | 864,331 |
6. Support Costs
| Management 2023 £ |
Finance 2023 £ |
Governance costs 2023 £ |
Total 2023 £ |
Total 2022 £ |
|
|---|---|---|---|---|---|
| Help and Development |
9,415 | - | 6,854 | 16,269 | 8,926 |
7. Transfer between Funds
Home Leone has transferred unrestricted funds to restricted to develop the village infrastructure operate the school and other programmes.
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8. Tangible Fixed Assets
Land and Buildings |
Business Assets |
Office Equipment |
Overseas Motor Vehicles |
Total | |
|---|---|---|---|---|---|
| Cost | £ | £ | £ | £ | £ |
| At 1 May 2022 | 1,007,43 6 |
111,724 | 20,206 | 43,178 | 1,182,545 |
| Additions | 35,457 | 3,595 | 314 | 34,954 | 74,320 |
| Disposals | - | - | - | (18,400) | (18,400) |
| At 30 April 2023 | 1,042,89 3 |
115,319 | 20,520 | 59,732 | 1,238,464 |
| Depreciation | |||||
| At 1 May 2022 | 104,534 | 90,958 | 14,805 | 27,889 | 238,187 |
| Charge for year | 36,328 | 10,707 | 2,513 | 21,092 | 70,640 |
| Disposals | - | - | - | (18,400) | (18,400) |
| At 30 April 2023 | 140,862 | 101,665 | 17,318 | 30,581 | 290,426 |
| Net book value | |||||
| At 30 April 2023 | 902,031 | 13,654 | 3,202 | 29,151 | 948,038 |
| At 30 April 2022 | 902,902 | 20,764 | 5,402 | 15,290 | 944,357 |
The land is held by Home Leone, a charity based in Sierra Leone in trust for Home Leone in the UK.
9. Work in Progress
| 9. Work in Progress | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Site Infrastructure | - | 7,000 | |
| Housing | 9,997 | 1,560 | |
| Other Buildings | - | 58,317 | |
| 9,997 66,877 |
“Destiny Village” is being developed and will contain, commercial, residential and social infrastructure. Once each building is completed, it is capitalised as Fixed Assets Buildings.
10.Stock
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Bricks | 1,702 | 2,064 | |||
| Water Factory | 483 | 522 | |||
| Other | 1,077 | 6,048 | |||
| 3,262 | 8,634 |
11.Debtors
| 11.Debtors | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other debtors | 14,846 | 115,600 | |||
| Prepayments | 272 | 799 |
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Home Leone Limited
| 15,118 | 116,399 | |||||
|---|---|---|---|---|---|---|
| 12. Creditors: amounts falling due within one year | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Sundry Creditors | 20,030 | 68,774 | ||||
| Accruals | 9,301 | 6,438 | ||||
| Deferred Revenue | - | 69,546 | ||||
| Loan on Chicken Farm | 27,000 | 27,000 | ||||
| Loan from Directors | 42,750 | 42,750 | ||||
| 99,081 | 214,508 | |||||
To assist the cash flow and maintain the building momentum, directors lent £42,750 (2022 - £42,750) to Home Leone. It carries no interest and is available for a period of up to 3 years.
13. Creditors: amounts falling due in more than one year
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Land held for third party |
49,261 | 49,261 | |||
| Solar Power Lease | 90,395 | 93,264 | |||
| 139,656 | 142,525 |
Home Leone entered a 20-year lease on charitable terms to facilitate a first solar farm in Destiny. Home Leone also acquired land on behalf of its JV partner, and this is the value of that land, also shown in Fixed Assets.
14. Analysis of Net Assets between Funds
| Tangible Fixed Assets Current Assets Creditors: amounts falling due within one year Creditors: amounts falling due in more than one year Total net assets Tangible Fixed Assets Current Assets Creditors: amounts falling due within one year Creditors: amounts falling due in more than one year Total net assets |
Unrestricte d Funds Restricte d Funds Total 2023 2023 2023 £ £ £ 946,456 1,582 948,038 73,795 73,795 (99,081) - (99,081) (139,656) - (139,656 ) |
|---|---|
| 707,719 75,377 783,096 |
|
| Unrestricte d Funds Restricte d Funds Total 2022 2022 2022 £ £ £ 944,357 - 944,357 214,652 48,709 263,361 (214,508) - (214,508 ) (142,525) - (142,525) |
|
| 801,976 48,709 850,685 |
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Home Leone Limited
15. Restricted and Unrestricted Funds
The income funds of the charity include restricted and unrestricted funds comprising the following unexpended balances of donations, grants and other incoming resources to be applied for these purposes:
Current Year
| Brought forward |
Income | Expenditure | Transfers | Carried forward |
|
|---|---|---|---|---|---|
| Restricted Funds | £ | £ | £ | £ | £ |
| Land and Homes | 14,505 | 23,000 | (11,913) | - | 25,592 |
| Staff Members | 1,477 | 20,252 | (17,983) | - | 3,746 |
| Corporate Teams | 2,782 | 16,298 | (16,080) | - | 3,000 |
| Sierra Leone Help Funds |
- | 15,155 | (13,194) | - | 1,961 |
| Education Fund | 7,875 | 15,464 | (20,748) | - | 2,591 |
| Healthcare Fund | 2,290 | 1,850 | (3,715) | - | 425 |
| School Buildings | 17,697 | 37,750 | (17,697) | - | 37,750 |
| Village Development |
2,083 | 20,217 | (25,896) | 3,906 | 312 |
| Unrestricted Fund | |||||
| United Kingdom | 801,976 | 444,623 | (534,972) | (3,906) | 707,719 |
| 850,685 | 594,609 | (662,198) | - | 783,096 | |
| Previous Year | |||||
| Brought forward |
Income | Expenditure | Transfers | Carried forward |
|
| Restricted Funds | £ | £ | £ | £ | £ |
| Land and Homes | 6,600 | 29,250 | (21,345) | - | 14,505 |
| Staff Members | 1,961 | 22,347 | (22,831) | - | 1,477 |
| Corporate Teams | 2,983 | 17,287 | (15,298) | (2,190) | 2,782 |
| Sierra Leone Help Funds |
425 | 6,701 | (7,126) | - | - |
| Enterprise Funds | 6,913 | 4,036 | (13,448) | 2,499 | - |
| Education Fund | 15,475 | 11,366 | (26,353) | 7,387 | 7,875 |
| Healthcare Fund | - | 3,998 | (1,708) | - | 2,290 |
| School Buildings | - | 25,000 | (7,303) | - | 17,697 |
| Village Development |
1,863 | 7,056 | (6,871) | 35 | 2,083 |
| Unrestricted Fund | |||||
| United Kingdom | 766,692 | 785,064 | (742,048) | (7,732) | 801,976 |
| 802,912 | 912,104 | (864,331) | - | 850,685 | |
Restricted funds are held for the following purposes:
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Home Leone Limited
| Land and Buildings in Sierra Leone | Allocated to acquire land and buildings fulfilling Home Leone's vision |
| Staff Members | Income and expenditure for staff raising their own support |
| Housing | The rental income and associate repair and depreciation in the housing stock |
| Corporate Teams | Income and expenditure in taking corporate teams overseas |
| Sierra Leone Help Fund | Income set aside to assist with crisis situations our staff come across |
| Enterprise Fund | Income and expenditure in respect of developing sustainable jobs and enterprise |
| Education Fund | Income and expenditure for students in whom Home Leone is investing |
| Healthcare Fund | Funds raised to develop Home Leones healthcare initiatives |
| School Buildings | Funds raised to build schools |
| Village Development | Funds raised for Destiny Village infrastructure and environmental projects |
| United Kingdom | For income and expenditure arising from Home Leone projects from the UK |
16.Related party disclosures
The charity is controlled by the trustees. £6,322 was paid in salary to one trustee during the period (2022 – £6,250). Two Trustees expenses were partially covered by the charity during the year amounted to £ 6,482 (2022 - £7,982). These expenses reflected flights, visas and other travel costs enabling the trustees to fulfil their roles as volunteers. Trustee’s donations more than cover the expenses and salary for which they are reimbursed and paid.
The trustee paid a salary was Nigel Hyde and his payment is authorised under the charity’s Memorandum and Articles and confirmed in writing by the Charity Commissioners in May 2019. He received no pension nor any other benefits of any kind. No benefit was paid in respect of his role as a trustee.
17.Staff Costs
The charity had five (2022: four) UK employees engaged in charitable activities during the period. No employee received remuneration exceeding £60,000.
| Gross wages Employer’s NIC Employer’s pension contributions |
2023 £ 61,148 1,794 - 62,942 |
2022 £ 47,452 1,582 - |
|---|---|---|
| 49,034 |
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