2023-12-31-accounts - Sierra Leone Education And Development Trust

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SIERRA LEONE EDUCATION AND DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Sierra Leone Education and Development Trust Contents of the Financial Statements For The Year Ended 31 December 2023

Contents
	Page
Trustees Annual Report	1—2
Independent Examiner's Report	3
Statement of Financial Activities	4—5
Balance Sheet	6
Notes to the Financial Statements	7

Sierra Leone Education and Development Trust Trustees’ Report For The Year Ended 31 December 2023

The trustees submit their annual report and the financial statements for the year ended 31 December 2023.

Full Name	Sierra Leone Education and Development Trust
Registered Charity Number	1158253
Principal Address	6 Cumberhills Road, Duffield, Belper, DE56 4HA
Trustees	Appointment Date
Kevin Curley CBE	01/12/2013
Michael Martin MBE	01/12/2013
Rachel Curley	07/04/2018
Barrie Chenor	06/10/2018
Katherine Curley	28/04/2019
Benjamin Attle	22/03/2023
Jacqueline Finn	22/03/2023

Other Committee Members

There are no other committee members in the UK.

Independent Examiner

Tom Geraghty & Associates, 38-40 North Gate, Newark, Nottinghamshire, NG24 1EZ

Governance and Maintenance

The charity is governed by a trustee board made up of nine trustees. We meet four times each year.

Recruitment and Appointment of Trustees

In 2022 two new trustees were recruited. Ben Attle was recruited after posting an invitation on the Young Trustees website. Jacqueline Finn was recruited after inviting all donors to offer their services.

Objectives and Activities

Public Benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales

The charity's objectives for 2024 can be seen on the website at www.sierraleoneaid.org.uk

Objectives for 2022 (2021 targets appear in brackets) and core functions:

We will pay all the educational costs for 50 (40) high achievers in primary schools from poor homes who would otherwise be unable to go to secondary school.
We will provide mobility equipment for 35 (25) disabled children and young people so that they can get to school and around their villages without crawling or being carried. We treat prosthetic legs as mobility equipment.
We will support care and training costs at Mustard Seed children’s home in Moyamba so that 10 (10) severely disabled children get the support they need.
We will pay for 2 (1) blind children to get the benefit of residential education including learning to read braille.
We will support 46 (38) final year students at Kroo primary school. This school serves the most deprived neighbourhood in Freetown.
We will support 7 (4) of our successful secondary school ‘graduates’ so that they can go on to university or vocational training college.
We will do all this with your donations of about £30,000 (£25,000).

Mission: We will contribute to the development of Sierra Leone by empowering children and young people to achieve their full potential through access to and support for education.

Principles and vision: We envisage a society in which the children and young people of Sierra Leone have overcome the barriers to their education and advancement in life.

Achievements and Performance

Financial Review

Policy on reserves

Sierra Leone Education and Development Trust is required to ensure that reserves are available in each financial year to meet any reasonable foreseeable contingency. In reviewing the potential costs should a significant reduction in income arise, the trustees have determined that unrestricted reserves be maintained at three months running costs. This is reviewed annually.

Page 1

Sierra Leone Education and Development Trust Trustees’ Report For The Year Ended 31 December 2023

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
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 business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable trust's transactions and disclose with reasonable accuracy at any time the financial position of the charitable trust. 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.0

The annual report was approved by the trustees on the charity on 28 May 2024 and signed on its behalf by:

Kevin Curley............................................................

Mr Adrian Kevin Curley CBE Trustee

Page 2

Sierra Leone Education and Development Trust Independent Examiner’s Report For The Year Ended 31 December 2023

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity’s trustees, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did 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.

Signed

............................................................ Olivia Geraghty, BA, CA

Tom Geraghty & Associates 38-40 North Gate Newark Nottinghamshire NG24 1EZ

Date …………………………………………………………….

Page 3

Sierra Leone Education and Development Trust Statement of Financial Activities For The Year Ended 31 December 2023

2023 £ £ 37,834 1,450 - 5,950 19 66 2,169 80 47,568 20,652 9,376 940 3,645 2,899 470 5,153 - 2,483 6 45,624 1,944 1,944 59 2,003 - - 2,458 942 - 388 959 - 4,747 (2,744)	2022 £ £ 27,351 7,400 2,530 4,132 - - 41,413 11,953 5,525 865 2,284 743 2,184 3,157 389 1,486 28,586 12,827 - 245 13,072 2 13,074 50 454 1,985 605 294 - 632 (1) 4,019 9,055 ...CONTINUED	2022 £ £ 27,351 7,400 2,530 4,132 - - 41,413 11,953 5,525 865 2,284 743 2,184 3,157 389 1,486 28,586 12,827 - 245 13,072 2 13,074 50 454 1,985 605 294 - 632 (1) 4,019 9,055 ...CONTINUED
		41,413 28,586 12,827 245 13,072 2 13,074 4,019 9,055 ...CONTINUED
	-
- - 2,458 942 - 388 959 -	50 454 1,985 605 294 - 632 (1)

Page 4

As Sierra Leone Education and Development Trust Statement of Financial Activities (continued) For The Year Ended 31 December 2023

Finance Costs

Bank interest payable

NET SURPLUS/(DEFICIT)

- (2,744)	1	1

		9,054

Page 5

Sierra Leone Education and Development Trust Balance Sheet As At 31 December 2023

Notes CURRENT ASSETS Cash at bank and in hand NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Balance at 1 January 2023 Surplus/(Deficit) for the period/year Balance Carried Forward	2023 £ £ 11,239 11,239 11,239 11,239 13,983 -2,744 11,239	2023 £ £ 11,239 11,239 11,239 11,239 13,983 -2,744 11,239	2022 £ £ 13,983 13,983 13,983 13,983 4,929 9,054 zz 13,983	2022 £ £ 13,983 13,983 13,983 13,983 4,929 9,054 zz 13,983

		11,239		13,983
		11,239		13,983
		13,983 -2,744		4,929 9,054 zz
		11,239		13,983

Page 6

Sierra Leone Education and Development Trust Notes to the Financial Statements For The Year Ended 31 December 2023

1. Accounting Policy

These unaudited accounts have been completed in accordance with UK Generally Accepted Accounting Practice guidelines and provides sufficient and relevant information to enable completion of a tax return.

2. Foreign Exchange Differences

The foreign exchange differences arise due to the highly fluctuating rate of exchange of Leones to Sterling. The rate of exchange varied between 65,000 and 44 Leones to Sterling. In addition, there was a redenomination on 29[th] June 2022 of 1000:1.

3. Trustees’ Expenses

Expenses incurred by trustees of the charity are donated back to the charity.

Page 7