SIERRA LEONE EDUCATION AND DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Sierra Leone Educatlon and Development Trust Contents of the Financial Statements For The Year Ended 31 December 2024 Contents Page Trustees Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Flnancial Statements
Slerra Leone Education and Development Trust Trustees. Report For The Year Ended 31 December 2024 The trustees submit their annual report and the financial statements for the year ended 31 December 2024, Full Name Registered Charity Number Principal Address Sierra Leone Education and Development Trust 1158253 6 Cumberhills Road, Duffield, Belper, DE56 4HA Trustees Kevin Curley CBE Michael Martin MBE Rachel Curley Barrle Chernor Katherine Curley Benjamln Attle Jacqueline Finn Foday Conteh Andrew Higglnson Appointment Date 0111212013 0111212013 0710412018 0611012018 2810412019 2210312023 2210312023 2110412024 2611112024 Other Commtttee Members There are no other committee members in the UK. Independent Examiner Tom Geraghty & Associates, 38-40 North Gate, Newark, Nottinghamshire, NG24 IEZ Governance and Malntenance The charity is governed by a trustee board made up of nlne trustees. We meet four times each year. En 2024, Foday Conteh and Andrew Higginson were appointed as trustees. ObSectlves and Activities Publlc Benefit The trustees confirm that they have complied with the requlrements of sertlon 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commlssion for England and Wales The charity's objectives for 2024 can be seen on the webslte at www.sierraleoneald.org.uk Mission: We will contribute to the development of Sierra Leone by empowerlng 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 Slerra Leone have overcome the barriers to their education and advanment in life. Achlevements and Performan Financial Revlew Pollcy on reserves Sierra Leone Education and Development Trust is required to ensure that reserves are avallable in each financlal year to meet any reasonable foSeeable contingency. In reviewing the potential costs should a significant reduction in income arise, the trustees have determined that unrestricted reserves be maintained at two months running costs. This 15 reviewed annually. Page I
Slerra Leone Educatlon and Development Trust Trustees. Report For The Year Ended 31 December 2024 The trustees are responsible for preparing the trustees, report and the financlal statements In accordance wlth the Unlted Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Charity law requires the trustees to prepare financial statements for each financial year. Under charity law the trustees must not approve the financial statements unless they are satlsfied that they give a true and falr view of the state of affairs of the charitable trust and of its incoming resources and application of resources, including its income and expenditure, for that perlod. In pparIng 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 3udgements 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 5tateYnents on the going concern basis unless it is Inappropriate to presume that the charitable trust will continue in busine5S. The trustees are responsible for keeping adequate accounting records that are sufflcient 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 trust and hence for taklng reasonable 5tep5 for the prevention and detectlon of fraud and other irregularities. The annual report was approved by the trustees of the charity on 3 May 2025 and slgned on Its behalf by: Kevin Curley.... Mr Adrian Kevin Curley CBE Trustee Page 2
Sierra Leone Education and Development Trust Independent Examlner's Report For The Year Ended 31 December 2024 I report to the trustees on my examlnation of the accounts of the above charity ("the Trust") for the year ended 31 December 2024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 {"the Act")- I report in respect of my examlnatlon of the Trust's accounts carried out under sertion 145 of the 2011 Art and in carrying out my examination, I have followed all the applicable Dlrertions given by the Charity Commission under sectlon 145(5){b) of the Act. Independent examiner's statement have completed my examlnation. I confirm that no material matters have come to my attention In connection with the examinatlon which gives me cause to believe that in. any material respect,. accounting records were not kept in accordance with section 130 of the Charities Art: or the accounts did not accord with the accounting records- or the accounts did not comply with the applicable requirements concernlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulatlons 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 examlnation. I have no COnrnS and have come across no other matters in connertion with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed om Geraghty, FCA Tom Geraghty & Assoclates 38-40 North Gate Newark Nottinghamshire NG24 IEZ Date ...... Pag¢ 3
Slerra Leone Educatlon and Development Trust statement of Financial A¢tivities For The Year Ended 31 December 2024 2024 2023 Income Donations to the general fund Donations to the container appeal Donations to the tertiary fund Gift Aid Amazon Easy Fundraising Just Giving Refund 48,913 3,830 7,970 9,055 37,834 1,450 5,950 19 28 66 2,169 80 30 69,826 47,568 Charitable expendlture Support for secondary school students Mobility equipment for dlsabled students/adult5 Medical costs in emergencies for students Support for students in tertiary education Kroo Bay education project Support for Mustsrd Seed Foundation Bonthe & Mania Project Medlcal treatment for Sulalman Sesay Sierra Leone volunteers, travel and training Support for students with special need5 Funding for Mofus school project Special projects recommended by volunteers 29,411 20,652 13,792 9,376 1,108 6,176 2,685 3,694 825 940 3,645 2,899 470 5,153 2,483 3,360 1.079 1,325 112 63,567 45,624 GROSS SURPLUS 6,259 1,944 Other Income Bank Inte$t recelvable 66 59 Foreign exchange gain 507 6,832 2,003 Expenditure Trustees, travel expenses (donated back) Printing, postage & stationery Administration costs Bank charges Sundry expenses Foreign exchange differences Refund of donations to general fund 3,130 496 429 1,024 15 2,458 942 388 959 200 5,294 4,747 NEf SURPLUS/(DEFICIT) Page 4
Slerra Leone Education and Development Trust Balance Sheet As Of 31 December 2024 2024 2023 Notes CURRENT ASSETS Cash at bank and in hand prtor year adjustment (misslng SLEDT bank account) 12,874 11,239 97 NEf CURRENT ASSETS 12.874 11,336 TOTAL ASSETS LESS CURRENT LIABILITIES 12,874 11,336 NEf ASSETS 12,874 11,336 FUNDS OF THE CHARITY Balance at l January 2024 Surplus/(Deficit) for the periodlyear 11,336 1,538 13,983 -2,744 Balance Carrled Forward 12,874 11,336 Page 5
Slerra Leone Educatlon and Development Trust Notes to the Flnanclal Statements For The Year Ended 31 December 2024 l. Accounting Policy These unaudited accounts have been completed in accordance with UK Generally Accepted Accounting Practice guidelines and provldes sufficient and relevant information to enable completion of a tax return. 2. Foreign Exchangé Differences The foreign exchange differences arise due to the fluctuating rate of exchange of Leones to Sterling. The rate of exchange varied between 26 and 29 Leones to Sterling. 3. Trustees, Expenses Expenses incurred by trustees of the charity are donated back to the charlty. Page 6