Home Leone Limrted Home Leone Report and Financial Ststements for the year 1 May 2024 to 30 April 2025 Charity no: 1158211 Company no: 8974510 Park House Botley Road Bishops Waltham Southampton S032 1 DR
Home Leone Limited Contents Pages Legal and Administrative Information Report of the Trustees Report of the Independent Examiners Statement of Financial Activities Balan Sheet 10 Cash Flow Statement Notes Forming Part ofthe Financial Ststements 12-20
Home Leone Limrted al and Administrative Inforniation Constitution Home Leone is a cornpany limited by guarantee and a registered chaiity govemed by its Memorandum and Arttcles of Association. Charity number. 1158211. Company number. 8974510. Directors and Trustees The directors of the charitable cornpany (hereafter referred to as Yhe chaiity,) are Èts trustees for the purposes of chartty law and throughout this report are collectively referred to as the trustees. The trustees serving during the period and Sin the period end were as follows: Mr N Hyde MBE Dr R Massey Ms C Pither (resigned 31 January 2025) Dr C Thursfield Mr D Fletcher Mr C Brecht Mr D Ingram 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 Chainnan. Each new trustee confinns 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, S032 1 DR Principal bankers Lloyds Bank PLC UBS Independent examiner A J Bennewith FCA, FCPA, FFA, FFfA DChA, FRSA, Bennewith 2018 Limited Upper Ground Floor. 18 Famham Road, Guildford, GU14X4 Solicitors spenrs SoliGitors, Spire WalK Derby Road, Chesterfield, S40 2WG
Home Leone Limited Directors Report for the Year Ended 30 April 2025 The directors, who also act as trustees, present their report with the financial statements of the charity for the year ended 30 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Staternent of Recommended practi applicable to charities preparing their accounts in accordan 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 accordan with the accounting policies on pages 13 to14. Purpose and Aims Vision To see thousands of people enabled to exit slums and living in quality homes in vibrant sustainable communities. Mission To establish a robust and inclusive relocation initiattve, we aim to foster seven foundational elements encompassing sustainable, holistic, and affordable living. These pillars comprise low- cost housing, livelihood development. education, healthcare, reliable power, water accessibility, and sanitation facilities. Woven through these efforts is a commitment to personal development and training, empowering beneficiaries to fully seize their opportunities. Our ultimate aspiration is to inspire the pliCation 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 mortalty. At Home Leone, we believe in the Staffish 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 prioritise personal groW(h. aiming to cultivate integrity, empathy, and understanding among beneficiaries, supporters, participants, and staff. 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 transfomi lives one by one. Through countless small acts of kindness, we aim to alleviate the suffertng of those in some of the world's most impoverished regions, believing that these actions collecttvely create a substsntial and impactful difference. Purpose The charity's putpose and aims are set out in it's Objects included in the Company's Memorandum of Associat'on being: (a) The relief of poverty, sickness and distress throughout the world.
Home Leone Limited (b) The prornotion for the benefrt 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: (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 authoiities or other bodies of a statutory duty to provide or improve housing. the relief of financial hardship" the relief of unemployment" the advanment of education, training or retraining, particularly among unemployed people, and providing unemployed people with work experience" the provision of financial assistan, technical assistance or business advi or consultancy in order to provide training and employment charitable need through (iv) (v) (vi) (vii) in setting up their own businesses or develop current ones" the creation of training and employment opportunities by the provision of workspa. buildings, andlor land for use on favourable tenns; the maintenan, improvement or provision of public amenities" 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 circUmstans. have need of such facilities; the protection or conservation of the environment, the provision of public health facilities" such other means as may from time to time be detennined subject to the prior written consent of the Chanty Commissioners for England and Wales." (viii) (ix) (x) (xi) (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 probably been the Most difficult since inception. A number of residents became violent and uncooperative. Despfte our best endeavours the court will not make a decision, largely because of pol.cal inteprfentions. This was exarbated when the local head man and chief of police. violently took over a significant part of our land. They then sold it to many individuals. Defending the land meant we could not progress new mission developments and cost considerable fvnds. Through prayer and intervention of the Brrtish High Cornmissioner we recovered our land but this has been at significant cost. All that said, we were able to start our new Offi and training block and complete the Vocational training building ready to start that education inrtiative in January 2026. Wth the attack on our land we were not rtain the charity could survive in its present form so felt, with integrity, we could not raise significant investment and donations until it was recovered. This meant income reduced this year. though we are gratefvl to all who stood with us during this difficult time. Despite these challenges, we have continued an amazing work at Destiny Gra Academy and helped many residents, slum dwellers and those in the wider Newton area. Key milestones have been achieved: Engaging in ongoing dialogues with govemment officials. intemational business representatives, and global development communities to advocate our vision and the effective soluttons being implemented to combat the dire conditions of slum living.
Home Leone Limited Delivering a relocation strategy and conceptualising a prototype village layout, encornpassing the seven fundamentsl pillars outlined above. Destiny Village, now home to over 300 residents, airns to accommodate the relocation of more than 2,000 individuals. Inaugurating prfrprimary. primary and secondary schools, presently catering to over 450 students from nursery to year 9. The school now has 15 classrooms, plus the first two for year 10 where we are COnntrating on vocational training. Accomplishing the construction of 72 Iow-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. Our medical facilty. the "Clinic in a Can." hosted both local din1 and international medical practitioners and developed our triage and pathway service. We are now funded to build a village medical facilty which will address mother and baby, dentistry and phannaceutical needs for the wider population of around 5,000 people. Due to the challenges noted above, we have not yet started this project. A solar fami comprising 200 panels has been installed and operated with the assistance of overseas partners. We have established a brick-making factory, water-bagging factory, wood and metal fabrication and construction operations. Sustaining corporate, universty, and communty partnerships, welcoming numerous groups to Sierra Leone. Participants have reported invaluable leaming experiences, and we anticipate expanding these engagements in the years ahead. Principal areas of work Home Leone's work is primarily based in Sierra Leone. We have a support office in the UK and recently closed our USA 501 (C)3. Financial Review Principal funding sources To ensure the sustainabilty of our organisation amidst these unpedented 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 SeNiS have been instrumental. We express our heartfelt gratttude to each individual who has played a role in realising our vision. In the aftermath of the pandemic, corporate social responsibilty prograrns curtailed travel. resulting in limited team contributions again this year. Nonetheless, we had the privilege of collaborating wtth tsvo teams. Our charity persists in its commitment to being efficiently managed, and ensuring that donor contributions represent exlIent value for money. Investment policy Home Leone prioritises the utilisation of tts donation incorne to swtftly progress toward its objectives. aligning spending with logistical feasibilty. Any surplus funds are 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.
Home Leone Limited 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 reSoUrs. With the defen of our land, it has left us asset rich but cash poor. This means we still have some work to see that the charity can athieve the reSoUrS neSSary to fulfil this desired policy. Plans for Future Periods The complexits.es of the legal system in Sierra Leone. combined with the challenges of conducting business and the attempted misappropriation of our land and buildings, have prompted the trustees to reflect deeply on what can realistically be achieved going forward. Since the year*nd, we have taken a significant step by recruiting a group of highly respected Sierra Leonean leaders and forming a local trustee board. These indTviduals hold influential positions within the nation, and we are delighted lo benefft from their insight and guidance. With strong local leadership in place, we are renewing our commitment to securing transformative fund1ng-res0urS capable of creating meaningful and lasting change for Sierra Leone's impoverished communities. Our goal is to obtain substanbal financial support to deliver a range of essential developments: more homes, thriving businesses, enhanced sports and healthcare facilities, and additional classrooms. Furthemiore, we aim to raise funds to sustain the operational costs of schools and healthcare services until the village enterprises become fully self-SLrfficient. Innovation MaInS at the heart of our efftirts. We have introduced new designs, including our first two-story house and high-qualty two-bedroom homes for two intemational partners. Our educational infrastructure is also expanding, with plans for additional classrooms to support our new vocational training programs-offering lrfe-changing opportunities for young people. The trustees extend heartfeft gratitude to our dedicated staff and residents. Their commitment and sacrifice in pursuing this vitsl vision cannot be overstated. These remarkable individuals, performing extraordinary work in challenging conditions, continue to inspire us all with their silience and unwavering dedication. Structure, Governance and Management Governing document The organisation is a company limited by guarantee, incorporated on 2 April 2014 and registered as a charty on 12 August 2014. The cornpany was established under a Memorandum of Association which established ts objects and powers. In the event of the company being wound up its members are required to contribute an amount not exceeding £10. On 26 April 2019, an updated Memorandum and Artides was adopted, following a review of operations and plans. Recruitment and appoinknent of directors The directors set the course and have established the organisation priorities. Now it has a firm foundation and is set for major growth and delNery. We aim to appoint additional trustees, with appropriate skill and contributions in the forthcoming financial year.
Home Leone Limited Strategy and policies Home Leone has established and adopted a comprehensive set of governan and operational policies designed to suit an organisats-on of rts size. scope. and mission. These govemance structures and key policies are considered robust and appropriate for our current objectives and scale. Our strategy is guided by a dear, well-defined plan rooted in an organic business model. To ensure financial transparency and accountabilrty, management accounts are prepared on a regular basis. Budgetary data is consistently reviewed and updated, with actual costs for the model village closely monrtored against forecasts-an essential discipline in an environment of significant inflation. Risk management The trustees regularly review the major strategic, operational, and financial risks to which the charity is exposed. We confim that robust systems and controls are in place to identify. assess. and manage these risks effectively. Regular reports are produced to enable timely action and ensure that mitigation strategies remain appropriate and effective. In addition, comprehensive risk assessments have been implemented across all operational locations. These assessments cover key areas such as health and safety, safeguarding, financial controls. govemance, and operational continuty. Special consideration is given to the welfare of volunteers travelling with the organisation, with detailed protocols in place to minimise risks associated with travel, accommodation, and on-th&ground activities. Key Risk Areas and Mitigation Measures: Financial Risk: Ongoing monitoring of cash flow and expenditure against budget forecasts, supported by regular management accounts and scenario planning to address inflationary pressures and funding variabilty. Legal and Regulatory Compliance: Continuous review of local and intemational legal requirements, supported by local trustee leadership and legal advisors to safeguard assets and operations. Operational Risk: Implementation of detailed health and safety procedures, volunteer guidelines, and contingency planning to manage risks at the village and project sites. Reputational Risk: Strong governan policies, ethical guidelines, and transparent reporting to maintain trust among donors. partners, and stakeholders. Security and Safeguarding: Comprehensive safeguarding policies, staff training, and monitoring frameworks to ensure the protection of children, vulnerable adults, and all team members. The trustees remain committed to maintaining a culture of proactive risk management to protect the charity's mission and the comrnunities we sev. Statement of trustees. responsÈbilities The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordan with applicable law and United Kingdom Generally Accepted Accounting Practi.
Home Leone Lirnited 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 staternents for each finanGial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resour. including the income and expenditure. of the charsty for that period. In preparing those financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently" obSere the methods and principles in that Charity SORP; make judgements and estimates that are reasonable and prudent" prepare the financial statements on the going concern basis unless ¥t is inappropriate to presume that the chanty will conts.nue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any tirne 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 chanty and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to Disclosure of Information to Independent Examlners 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 companys 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 chantable company's independent examiners are aware of the informats"on. Independent Examiners AJ Bennewith Limited, the Chaiitys Independent Exarniners wtll be proposed to stay in post for the 2025126 financial year. Approved by the Trustees and signed on their behalf by Nlgel Hyde 23 Novernber 2025
Home Leone Limited Independent Examinerfs Report to the Trustees of Home Leone LiTnited 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 2025. Responsibilities and basis of report As the trustees of the charity, you are responsible for the preparation of the accounts in accordan with the requirements of the Chartties Act 2011 (Ihe ACV). I report in respect of my examination of the charitjes accounts carried out under section 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity Comrnission under section 145(5)(b) of the Act. Independent examinerfs statement Since your chaiity's gross income exceeded £250,000 your examiner rnust be a mernber of a listed body. I can confirm that l am qualified to undertake the examination because l am a registered mernber of Institute of Chartered Accountants of England and Wales which is one of the listed bodies I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the chaiity as required by section 130 of the Act; or the accounts do not accord with those records," or the accounts do not comply with the applicable requirements concerning the form and content of accounts set OLrt in the Charities (Accounts and Reports) Regulations 2008 other than any requirernent that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems 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, FFfA, FIPA DChA, FRSA I nstitute of Chartered Accountants of England and Wales Upper Ground Floor 18 Famham Road, Guildford, GU14XA 23 November 2025
Home Leone Limited Statement of Financial Activities for the period 1 May 2024 to 30 April 2025 Incoming resources Unrestricted Restricted Total Funds Total Funds Funds 2025 Funds 2025 2024 2025 Notes Voluntary Income Sponsorships and donations Gifts in kind Internally generated income Investment income 214,577 124,164 338,741 288,207 12,069 75,061 963 75,061 963 85,954 Total incoming resources 290,601 124,164 414,765 386,236 Resources expended Cost of generating voluntary income Charitable activty Governan activty 5,900 5,900 9,931 231,110 4,492 110,435 341,545 4,492 379,440 10,145 Total resources expended 241,502 110.435 351,937 399,516 Net incomingl(outgoing) resources before transfers 49,099 13.729 62,828 {13,280) Transfers betrNeen funds Total funds brought foEward 15 702.065 67,751 769.816 783,096 Total funds carried forward 15 751,164 81,480 832,644 769.816 Revaluation Reserve 786 361 786 361 793 196 Total Funds 1.537.525 81,480 1,619.005 1,563,012 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 20 fomi part of these financial statements 10
Home Leone Limited Balance Sheet at 30 April 2025 2025 2025 2024 2024 Notes Tangible assets 1,636,701 1,642,021 Current assets Work in Progress Stock Debtors Cash at bank and in hand 54,674 13,904 23.916 54.506 41,091 7,493 22,476 53,349 10 147,000 124,409 Creditors: amounts falling due within one year 12 (84,779) (120,234) Net current assetsl {liabilities) 62.221 4,175 Creditors: amounts falling due in more than one year 13 (79,917) (83,184) 1619,005 1563,012 Reserves Unrestricted funds Restricted funds Revaluats'on Reservé 15 15 15 751,164 81,480 786,361 1619,005 702.065 67,751 793,196 1,663,012 The charitable company is entided to exemption from audit under Sertion 477 of the Companies Act 2006 for the year ended 30 April 2025. The rnembers have not required the charitable company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.The trustees acknowledge their responsibilrties for. (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006-, and (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 November 2025 and were signed on its behalf by: Nigel Hyde The notes on paoes 12 to 20 form part of these financial statements 11
Home Leone Limited Statement of Cash Flows for the Year Ended 30 April 2025 Cash Flows from Operating Activitses Note 2025 2024 Net (Outgoing)Ilncoming Resour$ 62,828 (13.280} Adjustments for. Depreciation of Fixed assets GainslLosses in Disposal of Fixed Assels Revaluation Reduction Increase in VVIP and other current assets Increase in Stocks Increase in Debtors Decreaselincrease in Creditors falling due in less than one year Decrease in Creditors falling due in more than one year 23,832 36,847 (6,835) (13,583} (6,411) (1,440) (35,455) 68,765 58,558 15 (31,094} (4,231} (7,358) 21,153 10 11 12 13 Net Cash from Operating Activitses Cash Flows From Investing ActNities Purchase of Tangible Fixed assets (55,359) (28,110) Net Cash from Investing Activities Cash Flows From Financing Activities Net increasel (decrease) In rAsh and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 1,157 7,932 Cash and Cash Equlvalents comprise Cash at Bank and in Hand The notes on pages 12 to 20 form part of these financial statements 12
Home Leone Limited Notes Forming Part of the Financial Statements for the year ended 30 April 2025 1. Principal accounting policies Basis of preparation of accounts The chanty's financial statements. as a public benefft entty 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 charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard 102, and the Charities Act 2011. The financial statements have been prepared on the historical cost basis. Incoming resources Income Recognition Income is recognised. when the charity has entitlement to the income, it is probable that the income will be received, and the amount can be rneasured reliably. Donations and Grants Income from donations and grants is recognised, when re1Vable, except in the following circumstances". Vhere donors specify that funds must be used in future accounting periods, the income is deferred until those periods. Where conditions must be fulfilled before the charity becomes entitled to the income, the income is defeffed and recognised only when the conditions have been met. Sponsorship or donations relating to trips or activities occurring in a future accounting period are deferred until the relevant event takes pla. Trading Activities A core elernent of Home Leone's vision is to develop enterprises that create livelihood opportunities and employment within the village. Income from these trading activities is recognised at the point of sale. Resource expended Expenditure Recognition Expenditure is recognised on an accrual basis and is reported inclusive of any irrecoverable VAT. All costs are allocated to the single charitable activity undertaken by the organisation, as the charity's work is directed towards achieving tts primary objective. Cost of generating voluntary income These include those costs incurred with third parties in the UK who promote fund raising, including events. 13
Home Leone Limited Governance activity These represent costs incurred in managing the charity, its organisational adrninistration and Complian with constitutional and statutory requirements. Gifts in kind The gtfts will be recorded at rnarket value at the time of receip( unless otherwise specified. INhere the market value is dtfficult to aSrtain they will be recorded at the cost of the item to the donor. or in the case of goods that are expected to be sold, the estimated resale value after deducting the cost to sell the goods. In the case of donated seplices the value will be the rep1arnent cost of that service. the amount that the chanty would pay in the open market for an ajtemative item that would provide a benefit to the charity equivalent to the donated item. If it is impractical to measure the fair value of goods donated for resale or rf the costs of valuation outweigh the benefft to users of the accounts, the donated goods will be recognised when they are sold. The fair value of a gift will be reduced by the cost of: Removing any restriction before the asset can be used or sold. Any distributs.on costs, if the goods are to be distributed freely. The contribution of general volunteers is not be recorded in the accounts. 1.7 Tangible red assets Assets intended for continuing use by the charity are caprtalised provided their cost exceeds £1 ,000. The net book value shovm at the balance sheet dates are stated at cost less depreciation and provision for impainnent in value. Depreciation is provided on tangible fixed assets at the following rates per annum so as to write off each asset over its estimated useful working life: Freehold Land - Not depreciated and revalued at 30 April 2024 Buildings Not depreciated and revalued at 30 April 2024 Enterprise Assets - 3 years straight line Office Equipment 3 year5 straight line Motor Vehicles 3 years straight line All land and buildings. apart from the school. are revalued on an annual basis by a person within the charity who has knowledge of the relevant property market. A separate revaluation reserve is shown wtthin the funds analysis on the balance sheet. The revaluation gainllosses is recognised as 'Gainsllosses on the revaluation of fixed assets, within the Statement of Financial Activity. Revaluation losses will be recognised as an expense in the relevant expenditure heading of the Statement of Financial Activity rf they do not offset any previous revaluation gain. Any gain on disposal over the carying amount will be recognised in 'Othef income Vthin the Statement of Financial Activity. As the land and buildings revaluation is reviewed each year these assets are not depreciated. The residual value of the school is in excess of the cost of acquiring it, so is not being depreciated. 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. Vvhen complete and commissioned, the cost of the construction of each building is transfeed to fixed assets. 14
Home Leone Limited Stock Stock comprises bricks, water bag materials, fvel and cement and are valued at the lower of cost and net realisable value. 1.10 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. Resti7¢ted funds.. These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specffied by the donor or when funds are raised for particular restricted purposes. 1.11 Foreign currencies Transactions in foreign currenaes are translated at rates prevailing at the date of transaction. Balances held at a period end denominated in a foreign cuencY are translated at the rate prevailing at the period end. 1.12 Invesknents When addrtional funds are available for investment these are placed on a bank deposit having regard to retums and security. 1.13 Finan¢ial Instruments The charity principaSly has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments (induding debtors and creditors) are initially recognised at transaction value and subsequently measured at their settlement value. 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 Artides of Association, any surplus of assets over liabilities on viinding- up cannot, under any Gircumstances, be distributed to the trustees, but shall be 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 plan( construth"on, metal and wood fabrication. 4. Net incoming resources The net incoming resources are stated after charging: 2025 2024 Independent Examiners, remuneratson Depreciation - owned assets Directors, emolurnents and other beneffts 3,300 23,832 3,000 5,507 68,765 3,000 15
Home Leone Limited 5. Charity's Activities Costs Direct costs 202S Support costs 2025 (See note 6) Total 2025 Total 2024 Help and Development 341,545 10,392 351,937 399,516 6. Supportcosts Management 2025 Finance 2025 Governance costs 2025 Total 2025 Total 2024 Help and Development 5,900 4,492 10,392 20,076 7. Transfer between Funds In 2025, Home Leone made no transfers between funds. In 2024. £3,000 was transferred from restricted funds to unrestricted as a donor waived the restriction. 8. Tangible Fixed Assets Land and Business Buildings Assets Office Overseas Equipment Motor Vehicles Total Cost At 1 May 2024 Additions Disposals 36.848 At 30 April 2025 1,671.886 1,653,890 116,049 22,189 515 6.050 16,654 59,732 1,851,860 55,359 66,381 59.732 1,840,838 23,483 92,566 Depreciation At 1 May 2024 Charge for year Disposals 29,664 7,229 112,577 2,664 19,905 1,900 6,051 47,693 12.039 209,839 23,832 29.534 At 30 April 2025 91,758 59.732 204 137 Net book value At 30 April 2025 1.634.993 808 900 1,636,701 At 30 April 2024 1,624,226 3,472 2,284 12,039 1,642.021 The land is held by Home Leone, a chanty based in Sierra Leone in trust for Home Leone in the UK. 16
Home Leone Limited On 30 April 2024, the trustees reviewed its policies conceming land and buildings. In the light of significant inflation. they decided to revalue them at that date. There are no reliable external professionals who are qualified to provide an independent valuation. The trustees therefore assessed the value based on sales prices of land and buildings in the Newton, Sierra Leone, location at that date. 9. Work in Progress 2025 2024 Housing Other Buildings 15.362 41,091 54,674 41,091 'Destiny Village. is being developed and will contain, commercial, residential and social infrastructure. Once each building is completed, it is capitslised as Fixed Assets Buildings. 10.Stock 2025 2024 Bricks Water Factory_-.. 13,292 519 6.446 877 11. Debtors 2024 Other debtors Prepayments 21,716 760 22,476 232 23,916 12. Creditors: amounts falling due within one year 2025 2024 Sundry Creditors Accruals Deferred Revenue Loan on Chicken Farm Loan from Directors 26.008 9,221 7,500 36,750 84,779 27,000 48,250 120.234 To assist the cash flow and maintain the building momentum, directors lent £36,750 (2024 - £48.250) to Home Leone. It carrtes no interest and is available for a period of up to 3 years. 13. Creditors: amounts falling due in more than one year 2025 Solar Power Lease 79,917 Home Leone entered a 20-year lease on charitable terrns to facilitate a first solar farm in Destiny. 17
Home Leone Limited 14. Analysis of Net Assets between Funds Revaluation Reserve 2025 Unrestricted Restricted Funds Funds 2025 2025 Total 2025 Tangible Fixed Assets Current Assets Creditors= amounts falling due within one year Creditors= amounts falling due in more than one year Total Net Assets 786.361 850.340 65,520 1,636,701 147,000 81,480 (84,779) (84,779) 79,917 751,164 79,91 1,619,005 786,361 81.480 Revaluation Unrestricted Restricted Reserve Funds Funds 2024 2024 2024 Total 2024 Tangible Fixed Assets Cuent Assets Creditors: amounts falling due within one year Creditors: amounts falling due in more than one year Total Net Assets 793,196 848.825 56,658 1,642,021 124,409 67.751 (120,234) (120,234) 793,196 702,065 67,751 1,563,012 15. Restricted and Unrestricted Funds The income funds of the charity include restricted and unrestricted fvnds comprising the following unexpended balances of donations, grants and other incoming reSoUrS to be applied for these purposes: Current Year Brought forward Expenditure Transfers fOard Restricted Funds Land and Homes Staff Members Containers Sierra Leone Help Funds Education Fund Healthcare Fund School Buildings village Development Total restricted Funds Unrestrlcted Fund United Kingdom 8.000 1,855 25,000 18.191 (18,235) (346) 3,000 2,654 37 10,157 300 6,370 52.488 2,870 15,665 (6,241) 166 (3,000) (3,170) {41,722j 21.208 137 67.751 3,580 (1,121) {110,435) 2,596 81,480 702.065 290.601 (241.502) 751,164 Revaluation Reserve 793,196 1.563,012 6,835 (358.772) 786,361 1,619,005 414.765 18
Home Leone Limited Previous Year Brought forward Income Éxpenditure Transfers forward Restricted Funds Land and Hornes Staff Members Teams Sierra Leone Help Funds Education Fund Healthcare Fund School Buildings Village Development Total Restricted Funds Unrestricted Fund United Kingdom Revaluation Reserve 25,592 3.746 3.000 1,961 {17,592) (12,785) (14,734) (19,206) 10.894 14.734 17.282 (3,000) _ 37 42,515 2,997 37,500 1,082 (34.949) (3,122) (27,985) (1,257) 425 37.750 312 300 47,265 137 75,377 (131,630) {3,OOOj 67,751 707,719 259,231 (267.885) 702,065 793,196 793,196 783,096 1,179,431 (399.515) 1,563,012 Restricted funds are held for the following purposes: Land and Buildings in Sierra Leone Allocated to acquire land and buildings fulfilling Home Leone's vision Income and expenditu for staff raising their own support Income and expenditure given for the purpose of sending gifts in kind in containers from the UK to Sierra Leone Income and expenditu in tsking corporate teams overseas Income set aside to assist with crisis situations our staff come across Income and expenditure for students in whom Home Leone is investing Funds raised to develop Home Leones healthcare initiatives Funds raised to build schools Funds raised for Destiny Village infrastructure and environmental projects For income and expenditure artsing from Home Leone projects from the UK Staff Members Containers Sierra Leone Help Funds Education Fund Healthcare Fund School Buildings Village Development United Kingdorn 19
Home Leone Lirnited 16. Related party disclosures Related paty transactions not recorded elsewhere include the following. The charity is controlled by the trUSts. £3.000 was paid in salary to one trustee during the period (2024 - £3,000). Two Trustees expenses were partially covered by the chartty during the year amounted to £8.220 (2024 - £5,864). These expenses reflected flig hts, visas and other travel costs enabling the trUStS 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 writtng by the Charity Commissioners in May 2019. He received no pension nor any other beneffts of any kind. No benefft was paid in respect of his role as a trustee. Trustee donations totalled £58,949 for the year. 17.Staff Costs The charity had two (2024: five) UK eMployS engaged in charitable activities during the period. No employee reiVed remuneration exceeding £60,000. 2025 2024 Gross wages Employerfs NIC Employer's pension contributions 15,000 40,983 1,383 15,000 42,366 20