**A.C.T.** ## **ACT** **(AFRICAN CHILD TRUST)** ## **REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 APRIL 2022** ## **INDEPENDENT EXAMINER** **Maurice William Brindley BSc FCA For and on behalf of Brindley Millen Ltd Chartered Accountants & Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH** **(African Child Trust)** ## **ACT** ## **INDEX TO THE FINANCIAL STATEMENTS** ||**Page**| |---|---| |**Trustees’ Report**|**1**| |**Independent Examiner’s Report**|**7**| |**Receipts and Payments Accounts**|**8**| |**Statement of Assets and Liabilities**|**9**| |**Notes to the Financial Statements**|**10**| **----- Start of picture text -----**
A.C.T.
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## **ACT** ## **(AFRICAN CHILD TRUST)** ## **REFERENCE AND ADMINISTRATION DETAILS** **TRUSTEES: G. HOWES - CHAIR C. AMIAKA A. OLUFEYIMI DR. K. ONABOLU (DIRECTOR) ADDRESS: 40 TAMWORTH ROAD CROYDON SURREY CR0 1XU BANKERS: HSBC BANK PLC 9 WELLESLEY ROAD CROYDON SURREY CR9 2AA METRO BANK PLC CENTRALE SHOPPING CENTRE CROYDON SURREY CR0 1TY** **CHARITY REGISTRATION NO: 1158266** **INDEPENDENT EXAMINER: MAURICE W. BRINDLEY BSc FCA** **(African Child Trust)** ## **ACT** ## **TRUSTEES’ REPORT ON THE WORK OF THE AFRICAN CHILD TRUST** ## **FOR THE YEAR ENDED 30 APRIL 2022** ## **PURPOSE AND IMPACT** Widows, fatherless children, and orphans in women-led households are among the poorest and the most vulnerable group in rural African communities. African Child Trust (ACT) was set up 24 years ago with the vision to support this group, alleviate their poverty and give them hope of a better future. ACT is doing this by advancing the education of the disadvantaged children and orphans and empowering the women in need through training in sustainable income generation programmes to enable them to support their families. We are doing this through such charitable activities within the UK, Africa and worldwide as the trustees think fit. Our goal is to help the children reach their full potential in life by enabling them to access education from primary school to higher education. In this way, they can support their families when they grow up and contribute to the overall development of their communities. In the UK we are engaging young people in global citizenship through our Youth International Development Experience and Awareness (IDEA). We are partnering with schools, churches and youth organisations and providing the young people work experience and volunteering opportunities. The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities and setting goals for the year. Our core activities are: - Educating disadvantaged children and orphans in Africa from primary school to completion of higher education - ▪ Empowering widows and women-led households in-need (typically grandmothers, single mothers, or guardians) to sustain their families through counselling, literacy as well as business and whole life skills training - Enriching entire communities by carrying out projects in education, sanitation, and health to improve the welfare of people in the community. - Engaging UK youth in international development experience and awareness as global citizens and improving their knowledge and understanding of the world. - Providing placement and volunteering opportunities for UK citizens to support our projects in the UK and in Africa. ## Our Impact Our work is invaluable to the disadvantaged women and children because we are challenging the negative perceptions of widows, fatherless children, and orphans in African communities. Without support many of them will remain in life-long poverty. Our ACT Alumni, comprising several hundreds of youngsters that we supported to completion of their education, is growing. Many of them are gainfully employed, married, and having their own children. Evidence of the impact that our work is making is that so many people within these communities are no longer living in poverty is. Many of the children are now able to support their mothers/guardians and siblings. They are also engaged with ACT in giving back to their communities through mentoring and financial support for other disadvantaged children. Our work continues to be relevant and is needed in Africa. External third-party review of ACT, including a report by Action Planning (2020) have graded our work as “ _highly impressive with a huge range of services and support that is changing the lives of many more individuals and communities in Africa and has a reach that is typical of a larger charity.”_ Furthermore, the report stated that “ _the value for money its projects offer is striking.”_ We recognise that we have a lot more still to do to be able to fulfil our vision. ## Overseas Partners In Africa we work in collaboration with community-based organisations and Christian churches that share our vision of alleviating poverty and supporting the women and children most in need in their community. We are currently operating in Burkina Faso, Democratic Republic of Congo, Kenya, Malawi, Nigeria, Tanzania, Uganda and Zambia. In the past two years, our work in the Democratic Republic of Congo and Malawi have been on hold, while we work to develop new local partnerships. We raise funds from donors to support the education of children and orphans that are disadvantaged, provide training in whole life skills and business skills for women (widows) and fund development projects in education, health, and sanitation to enrich the communities where we work. ACT works with local schools to improve the quality of education provided for pupils. We send funds raised to our partners to implement the objectives of the Charity. Page 1 ## **ACT** ## **(African Child Trust)** When planning the activities of the charity the Trustees have given regard to guidance issued on public benefit by the Charity Commission in December 2008. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## Governing Document ACT (African Child Trust) is an incorporated charity registered on 18 August 2014, Charity registration, No.1158266. Its address is at 40 Tamworth Road, Croydon, Surrey CR0 1XU. It was previously known as A.C.T. (African Child Trust) constituted by Deed of Trust dated 29 March 1999, Charity registration No.1074911, but was removed from the register of charities on 12 June 2015 after its assets and operations were transferred to the newly incorporated charity on 30 April 2015. ## Recruitment and Appointment of Trustees The governing document provides for a minimum of three Trustees, with no maximum. The Trustees are appointed by invitation of the Board of Trustees. Trustees are appointed to serve for a period of three years after which they can be reappointed by a resolution of the Trustees passed at a special meeting. Before taking up trusteeship a potential Trustee is invited to attend a meeting as an observer. New Trustees are given an induction and provided with an information pack and guidance notes about being a Trustee and about the work of the Charity. The Charity Trustees during the year ended 30 April 2022 were G. Howes, C. Amiaka, A. Olufeyimi, Dr K. Onabolu. Revd P Edwards resigned on 17 May 2022. A new Trustee, Mr Nwabueze Amiaka has been appointed and will join the board in July 2022. ## Staff ACT is volunteer led, with a CEO and two other staff in paid roles coordinating the work of the charity. Volunteering is at the core of how we operate both in the UK and in Africa. Our model is based on minimising our costs, so that we can use most of the money raised to support the disadvantaged children, widows and women-led households in need in Africa. The CEO is focussed on operations both in the UK and in Africa. The other staff in paid roles are focused on our supporters’ care, communications, marketing, events, grant funding and supervise our volunteers in support. As at 30 April 2022, ACT had one employed staff, and a part-time staff in the UK, assisted by seven volunteers. Funds have been designated for the recruitment of a Business Development Manager, a new senior role responsible for fundraising activities, including grant funding and events. Although widely advertised, the charity was unsuccessful in recruiting for the position, possibly because of a shortage of suitable qualified people and the increased demand for experienced personnel for similar positions. The designated funds will be carried over to the 2022/23 financial year. ## Safeguarding ACT Safeguarding Policy is firmly integrated into the general operation of the Charity, with a named Trustee assigned as the responsible person for both policy and procedures. This commitment is further evidenced by the regular review of any issues at Board level and is a fixed agenda item at the Trustees bi-monthly meeting. New Trustees are inducted in safeguarding and required to sign the safeguarding policy and retain a copy. UK staff and volunteers are made aware of the policy as part of their induction. ACT partners overseas are required to adopt and implement the ACT Safeguarding Policy and be aware of any local or national policies that they may be subject to. Trustees and staff on project monitoring visits overseas are required to review safeguarding with partners, staff and volunteers and follow up whistleblowing from beneficiaries. Learnings made are shared across the ACT partnership network and procedures are regularly reviewed internally and by an external consultant annually. ## Risk Management and Policies The Trustees have assessed the major risks to which the charity is exposed, including governance, working overseas, safeguarding, finances, environmental/external, compliance with law and regulation, as well as disaster recovery and risk regulations. These risks are documented in a full risk register and evaluated based on impact and probability using a traffic light system. Changes that might impact a known risk are reported, evaluated, reviewed and assessed at Trustees bi-monthly meetings, and mitigating action agreed. There is full review of the register every 6 months. Page 2 ## **ACT** ## **(African Child Trust)** ## Investment Policy Our Investment Policy aims to maximise and preserve capital value with a minimum level of risk and to provide income. ## Fundraising We fund our work with income from individual donations, child sponsorships, fundraising events, grants from corporate organisations, churches, trusts and foundations. Our fundraising is not delegated to professional fundraisers or commercial third parties but is managed in-house. Our core costs are mainly staff salaries, with minor expenditure on office costs. Our volunteers and some supporters participate in events and challenges which are organised by the charity or other major national or international events and are guided by our values and code of conduct at the time of registering their participation in such events and challenges. The Trustees ensure that the charity’s fundraising activities comply with recognised standards of fundraising and charity fundraising law and is open and accountable in order to protect the charity’s reputation and other assets. Our fundraising strategy is documented and updated annually and ensures that it reflects the charity’s ethos and values. ## Covid-19 The Covid-19 pandemic impacted our work in several ways. We operated a virtual office and our staff had to work from home in line with government directives. A consequence of this was reduced staffing, as some of our volunteers struggled to adapt to virtual working and some suffered mental health issues. Lockdowns across countries in Africa hindered our ability to travel to monitor projects and meet our beneficiaries and partners in-country. Feedback and reports from our partners indicated that the children, widows, and the households we support were adversely affected by the pandemic. Children’s loss of school time disrupted the school calendar when schools reopened late in 2021/early 2022, with consequence for the educational advancement of the children. There were some pregnancies among the girls with consequences for their education and long-term future. The widows/women trades were hindered and affected their ability to generate income to support their family, amidst rising cost of food, which has been compounded by the war in Ukraine, rising cost of fuel and high inflation. Our offices reopened in March 2022. We now operate flexible working with staff and volunteers able to choose which days they work from the office. Despite the loss of about 10 percent of our income from cancelled fundraising events, our finances have withstood the challenge of the pandemic. This is testimony to the strong support we continue to receive from our core donors and child sponsors. ## **ACHIVEMENTS AND PERFORMANCE** Our 5-year plan to 2025 is to increase the number of children, widows, and community projects we carry out by over 100% of its provision in 2020/21. We are following the roadmap that sets out how we plan to reach our goals and the indicators we monitor to tell us whether we are making progress. Our achievements in 2021/22 continues our progress towards this end, but at a slower pace than we had hoped, due to the impact of the Covid-19 pandemic on our work as described above. ## Sponsored Children In 2021/22 we increased the numbers of orphans and disadvantaged children benefitting directly from our support. A hundred and thirty (130) additional children received full education and welfare support, bringing the number of children in this category to one thousand six hundred and ninety-five (1,695), an increase of nearly three percent (8.3%). The newly supported children are in Tanzania and Burkina Faso. Just under fifty percent are girls (49.7%) which is a small decrease of 0.6% from the previous year. In 2021/22 just under twenty-five percent (24.7%) of children receiving on-going educational support were attending primary school, fifty-eight per cent (58.1%) were in secondary school, five per cent (5%) in universities and nine per cent (9.2%) were studying for a diploma or certificate at a tertiary institution. Just over three percent (3.3%) of the children completed their studies in this period. Among them five (5) graduated from university, eight (8) received national diplomas and two (2) received certificates of learning. In addition to children receiving education and welfare support, nearly five thousand (4,971) siblings received welfare support including food, clothing, and health care support. In 2021/22 £62,613 was spent on educational and welfare support for the disadvantaged vulnerable children and orphans. ## Widows Project The Women’s whole-life skills programme continues to empower needy widows in the countries where we work. Significant numbers of the women (widows) who had benefitted from the training programme have set up their own enterprises and trades. Our project in Tanzania combines education support for children with sustainable income generation for families. Each family is provided with a male and female goat or pig. Income is generated from sales of the offspring Page 3 ## **ACT** ## **(African Child Trust)** of the animals and milk products of goats. By selling the offspring of their goats, some families have been able to buy a cow. In 2021/22 there were 116 new births of pigs and goats, increasing the total number of animals four-fold and provided significant income for the supported families. ## Countries of Operation ACT is currently working with ten (10) partner organisations in eight (8) countries of Africa namely Burkina Faso, the Democratic Republic of Congo, Kenya, Malawi, Nigeria, Tanzania, Uganda and Zambia. ## Missions Visits There were no mission trips in 2021/22 due to the Covid pandemic. ## Expenditure In 2021/22 the expenditure of the charity was £152,275 compared to £144,892 in the previous year, an increase of £7,383 (5.1%). Our expenditure would have been higher had staff and trustees been to carry out monitoring and missions’ visits which had to be cancelled because of the Covid pandemic lockdowns in some of the African countries and UK travel restrictions for the same reasons. For these reasons there was also less spend on community projects and reduced cost of fundraising due to cancellation of all our fundraising events. ## **FINANCIAL REVIEW** ## _Financial information_ The Charity’s financial activities are set out on pages 8 and 9. The Charity’s income during the year amounted to £202,781 and the split is as follows: |_Donations:_|£| |---|---| |Donations - Child Sponsorship (CSP)|61,889| |Donations - Other Gifts|52,281| |Grants|58,756| |Tax Reclaim|19,211| |Others|30| |_Other income:_|| |Fundraising Events|9,123| |Interest Received|1,491| There has been an increase (16.2 percent) in the Charity's income in 2022, voluntary donations increased compared to 2021. ## Reserves Policy The Reserves policy is focussed on achieving the outcomes the charity is focussed upon and mitigating the risks that might accrue to this program. Trustees are aware of the need to ensure adequate funds are available to support all sponsored children throughout their primary, secondary and university or other tertiary education. This has required that in some cases the Charity will commit to support a child for upwards of 14 years, while continuing to take on additional children into our programme. The majority of the charity’s income is from individuals gifts and donations which can be influenced by predictable factors in the UK such as inflation and the general well-being of the economy. But it is also subject to unexpected events such as the Covid pandemic and the recent rise in the cost of living due to the war in Ukraine. The risks for the overseas beneficiaries include weakness in currencies, climate change factors and political unrest, all of which can affect the intended outcomes. Trustees therefore require that sufficient funds are retained to cover cost of child sponsorship and university students support for each following year and staff salaries for 3 months. For this reason, a total of £85,000 has been designated for the 2022/23 financial year for this purpose of which, £3,000 will go towards educational support for 15 additional children in Uganda. A further £10,000 is being held to complete on going Community Projects. Trustees have also set aside £42,000 to increase our staffing needs from one to two full time and one part-time staff to improve our capacity and support our growth to deliver our 5-year plan. Furthermore, £3,000 is earmarked for our CRM service fee and £3,000 for our alumni leadership training project. Page 4 ## **ACT** ## **(African Child Trust)** ## CSP CSP is the Child Sponsorship Programme. ACT is contracting for costs in Africa, and to facilitate the process we work through local Partners in-country who must comply with the accounting and reporting requirements, which is reviewed and monitored through the ACT review process in the UK. ACT funds the education of disadvantaged children and orphans who have completed an application form for support. Children must meet the criteria for child sponsorship as set out in the ACT Operational Handbook which forms part of the collaboration agreement signed with our partners. Our partners facilitate the child support process, oversee care for the families and manage utilisation of the funds received. We send funds to the partners at the beginning of each school term (four monthly). Partners are required to submit accounting returns and reports at the end of each term, using our template. The reports provide updates about the sponsored children and their welfare and progress at school. Approval of the partner return and report triggers release of funds for the following school term. Below is a summary of the CSP disbursement to ACT partner organisations. CSP spending 2021/22 |Country|Number of
Partners|Number of children as
at end of financial year|Amount Spent|Percent of total
CSP spend| |---|---|---|---|---| |Burkina Faso
Congo DR
Kenya
Malawi
Nigeria
Tanzania
Uganda
Zambia|1
1
2
1
1
2
1
1|26
0
58
0
109
243
38
14|2,915
0
26,926
0
23,073
22,560
5,992
3,788|3.4%
0%
31.6%
0%
27.1%
26.5%
7.0%
4.4%| |Total|10|488|85,254|100| In 2021/22 the CSP spending breaks down as follows: In Burkina Faso the amount spent was as follows: Hope Mission (£2,915). In Congo - no fund was sent, as partners are in transition (£0) In Kenya the amount spent were as follows: JTAN, Webuye (£6,262) and I-Afrika, Lusigetti (£20, 664) In Malawi - no fund was sent. We currently have no partnership in country (£0) In Nigeria the amount spent was as follows: CDLI, Ipaja (£23,073). In Tanzania the amount spent was as follows: Tanzania Assemblies of God, Chumbageni (£1,113), Justice & Peace, Kagera (£19,210) and Rwinyana Orphans Support Project (£2,237) In Uganda the amount spent was as follows: Christian Vision/Elim Church, Jinja (£5,992). In Zambia the amount spent was as follows: Hands of Mercy, Ndola (£3,788). ## Donors Our expanding base of individual donors form the core of our Child Sponsorship Programme (CSP) with increasing support received from UK Churches. During the year the charity received grants from UK Trusts and other organisations. The Trustees are grateful to all donors who provided funding during the year in support of the Charity. The Trustees would like to acknowledge the following organisations that made grants and donations during the financial year: Page 5 ## **ACT** ## **(African Child Trust)** Annies Orphans Amlwch Pentecostal Church, Anglesey City Hill, London Corporate Messengers Chiltern Church, Sutton New Life Christian Centre, Croydon Charles Hayward Foundation Croydon Tabernacle, Croydon House of Hope International Church Gilchrist Educational Trust KAO Project Solutions Limited RCCG Builders House, Croydon Nilec Limited The Betty Messenger Charitable Trust RCCG The Sanctuary, London The Ashworth Trust The Souter Charitable Trust RCCG Victory House, London The Connop Trust The Peter Stebbings Memorial Charity St George’s Church, Waterlooville Tobi Adeyemi Foundation Wales AOG, Bangor ## Internal Controls The Trustees continue to uphold and improve on the charity’s system of internal controls and accounting procedures to enhance funds accountability. The Trustees would also like to thank the several volunteers who have contributed to the operation of the charity during the year. ## **PLANS FOR FUTURE PERIODS** - Increase numbers of beneficiary children supported to twelve thousand by 2025. - Increase the numbers of widows and women supported through training in sustainable whole life skills to five thousand by 2025. - Extend the widows sustainable whole life skills programme to all countries where ACT is operating by 2025. - Support the ACT Alumni Initiative and leadership programme across all countries so that they are operational and able to contribute to the growth plans significantly by 2025. - Enhance quality of life in communities by implementing at least one community project each year ## **ON BEHALF OF THE TRUSTEES:** ## K. Onabolu Gwenneth Howes (Nov 1, 2022 14:46 GMT) K. Onabolu (Nov 1, 2022 13:17 GMT) Mrs G. Howes Date: 2022Nov 1, 2022 Dr. K. Onabolu Page 6 ## **ACT** ## **(African Child Trust)** ## **Independent Examiner's Report to the Trustees of African Child Trust** I report to the charity trustees on my examination of the accounts of African Child Trust (the Trust) for the year ended 30 April 2022. ## **Respective responsibilities of trustees and examiner** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). Having satisfied myself that the accounts of the trust are not required to be audited and are eligible for independent examination, I report in respect of my examination of the Trust's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## mwbrindley mwbrindley (Nov 1, 2022 15:29 GMT) ## **Maurice Brindley BSc FCA** **For and on behalf of Brindley Millen Ltd Chartered Accountants & Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH** Date: 2022 Nov 1, 2022 Page 7 ## **ACT** ## **(African Child Trust)** ## **RECEIPTS AND PAYMENTS ACCOUNTS** ## **FOR THE YEAR ENDED 30 APRIL 2022** |**Notes**
**Receipts**
_Voluntary receipts_
Donations - Child Sponsorship (CSP)
Donations - Other Gifts
Grants
Tax Reclaim
Others
_Other Trading Activities_
Fundraising Events
_Investments_
Interest Received
**Total receipts**
**Payments**
_Cost of raising funds_
Fundraising Costs
3
_Costs of charitable activities_
Child Sponsorship Programme (CSP)
Missions Programme
UK Support Cost of Programmes
4
Community Project
**Total payments**
**Net (payments) / receipts**
Transfers between funds
**Net movement in cash funds**
**Reconciliation of cash funds**
Total cash funds brought forward
**Total cash funds carried forward**|**Unrestricted**
**funds**
**Restricted**
**funds**
**£**
**£**
38,626
23,263
42,780
9,501
10,143
48,613
19,211
-
30
-
9,123
-
1,491
-
**121,404**
**81,377**
15,629
96
24,134
38,479
-
-
50,589
444
190
22,714
**90,542**
**61,733**
**30,862**
**19,644**
-
-
**30,862**
**19,644**
104,661
34,387
**135,523**
**54,031**|**Total**
**2022**
**Total**
**2021**
**£**
**£**
61,889
68,374
52,281
55,118
58,756
21,994
19,211
21,020
30
-
9,123
8,050
1,491
-
**202,781**
**174,556**
15,725
17,259
62,613
64,512
-
-
51,033
57,496
22,904
5,625
**152,275**
**144,892**
**50,506**
**29,664**
-
-
**50,506**
**29,664**
139,048
109,384
**189,554**
**139,048**| |---|---|---| The notes on pages 10 to 14 form part of these accounts. Page 8 ## **ACT** ## **(African Child Trust)** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AS AT 30 APRIL 2022** |**`**
**Notes**
**Cash funds**
Cash on deposit
Cash at bank and in hand
5
**Other monetary assets**
Tax reclaim
Grants
**Assets retained for the**
**charity's own use**
Donated computer equipment
**Liabilities**
PAYE - Tax and NIC|**General**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
**£**
-
-
-
-
80,000
2,183
133,340
54,031
189,554
59,048
**2,183**
**133,340**
**54,031**
**189,554**
**139,048**
-
-
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
845
-
-
845
815
**845**
**-**
**-**
**845**
**815**| |---|---| **APPROVED BY THE TRUSTEES ON 2022 AND SIGNED ON THEIR** Nov 1, 2022 **BEHALF BY:** ## K. Onabolu Gwenneth Howes (Nov 1, 2022 14:46 GMT) K. Onabolu (Nov 1, 2022 13:17 GMT) Dr. K. Onabolu The notes on pages 10 to 14 form part of these accounts. Page 9 ## **ACT** ## **(African Child Trust)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022** ## **1. ACCOUNTING POLICIES** The principal accounting policies are summarised below. ## a) **Basis of accounting** The accounts (financial statements) have been prepared in accordance with section 133 of the Charities Act 2011 using the Receipts and Payments basis. ## b) **Fund accounting** - Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. - Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. - Restricted funds are subjected to restrictions of their expenditure imposed by the donor or through the terms of an appeal. ## **2. TRUSTEE REMUNERATION** Dr. K Onabolu, Trustee received remuneration of £42,000 for the year, together with payment of £2,400 to his pension plan. Payment to Dr K. Onabolu was approved by the Charity Commission. The sealed Order was signed on 15 January 2007. He is remunerated to manage and develop the Charity, to direct its projects, to oversee the administration, to promote it to other organisations, trusts and companies and to communicate effectively with the Charity’s many stakeholders. No other Trustee received a remuneration during the year. Page 10 ## **ACT** ## **(African Child Trust)** ## **3. COSTS OF GENERATING VOLUNTARY INCOME** |**Basis**
**of**
**Allocation**
**Allocation**
Fund raising costs
100%
Printing, postage and stationery
50%
Travel and subsistence
20%
Telephone, internet and website costs
40%
Marketing, entertainment and related expenses
50%
Office rent & business rates
25%
Insurance
25%
Wages, national insurance and pension
20%
Training courses
20%
Subscriptions
50%
Governance costs
25%
Accountancy and examiner's fees
25%
Office maintenance
25%
Bank charges and interest
0%
Heat, light and water rates
25%|

**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
1,273
-
1,273
-
92
-
92
130
284
-
284
756
1,099
-
1,099
212
217
-
217
1,780
2,073
-
2,073
2,488
58
-
58
88
8,893
96
8,989
10,935
180
-
180
-
38
-
38
38
578
-
578
360
180
-
180
182
480
-
480
30
-
-
-
137
184
-
184
123
15,629
96
15,725
17,259| |---|---| ## **4. UK SUPPORT COSTS OF PROGRAMMES** |**Basis**
**of**
**Allocation**
**Allocation**
Printing, postage and stationery
50%
Travel and subsistence
80%
Telephone, internet and website costs
60%
Marketing, entertainment and related expenses
50%
Office rent & business rates
75%
Insurance
75%
Wages, national insurance and pension
80%
Training courses
80%
Subscriptions
50%
Governance costs
75%
Accountancy and examiner's fees
75%
Office maintenance
75%
Bank charges and interest
100%
Heat, light and water rates
75%|

**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**Total**
**2021**
**£**
**£**
**£**
**£**
92
-
92
130
1,134
-
1,134
3,023
1,648
-
1,648
318
217
-
217
1,780
6,220
-
6,220
5,805
174
-
174
133
35,573
384
35,957
43,742
720
-
720
-
38
-
38
38
1,734
-
1,734
1,080
540
-
540
545
1,439
-
1,439
70
508
60
568
546
552
-
552
286
50,589
444
51,033
57,496| |---|---| Page 11 ## ## **(African Child Trust)** ## **5. MOVEMENTS IN FUNDS** |**Restricted funds:**
Anicet Donard Medical Scholarships
Individual Donations (Community Proj )
Charles Hayward Foundation
Accenture
Investment One
Jepthah Fund
Jesus House Church (WBST)
Individual & CAF Donations (WBST) )
IAfrika
IAfrika (Mazars)
CSP Direct
Martin Philips Girls' Education Trust
Mummy Fowler Fund
Individual & CAF Donations (CSP)
Gilchrist Educational Trust
Ashworth Trust (CSP Nigeria)
B. Trust (Kenya)
The Peter Stebbings Memorial Charity
Tobi Adeyemi Foundation
Souter Trust
Thriplow Charitable Trust (Uni)
**Total Restricted funds:**
**Unrestricted funds:**
Designated Funds
General Funds
**Total Unrestricted funds:**
**Total Funds:**|**At 1st May 2021**
**£**
**Incoming**
**Resources**
**£**
**Outgoing**
**Resources**
**£**
**Transfers**
**£**
**30th April**
**2022**
**£**
12,769
3,250
(872)
-
15,147
1,892
-
(10)
-
1,882
-
15,000
(7,287)
-
7,713
-
278
0
278
-
3,839
0
-
3,839
2,452
1,200
(212)
-
3,440
703
-
0
-
703
-
775
(410)
-
365
1,034
1,720
(2,057)
-
697
-
15,000
(15,000)
-
-
6,022
20,293
(20,974)
-
5,341
2,246
400
(701)
-
1,945
240
-
0
240
81
1,010
(932)
-
159
-
1,500
(1,500)
-
-
-
3,000
(2,803)
197
1,600
-
(1,600)
-
-
-
5,000
0
-
5,000
3,348
4,112
(5,375)
-
2,085
-
5,000
0
5,000
2,000
-
(2,000)
-
-| |---|---| ||34,387
81,377
(61,733)
-
54,031| ||95,604
62,286
(24,550)
-
133,340
9,057
59,118
(65,992)
-
2,183| ||104,661
121,404
(90,542)
-
135,523| ||| ||139,048
202,781
(152,275)
-
189,554| Page 12 ## **ACT** **(African Child Trust)** ## **RESTRICTED FUNDS** ## **Restricted funds are for the following purposes:** ## Souter Trust Grant awarded towards the support of 6 students at university in Africa has been expended. ## University Students Support Donations from individual sponsors to support university students in Africa is on-going and was partially expended. ## Anicet Donard Medical School Fund Fund to support disadvantaged children to study medicine at a university in Africa is on-going and was partially expended. ## Tobi Adeyemi Foundation Grant to support exceptionally gifted children in secondary school in Africa is on-going and was partially expended. ## B. Trust Grant was made to support the education of 8 children in Kenya was partly expended. ## I.Afrika Donations from individual towards the welfare support of children at I.Afrika are forwarded as received. ## Widows Business Skills Training (WBST) Donations for skills training of widows in Africa were brought forward from the previous year and were partially expended. ## Individual Donations (Community Project) Donations from individual towards Community Projects were partially expended. ## Thriplow Charitable Trust Grant to support education of university students in Africa is expended. ## Jephthah Fund Fund was partially expended. ## Martin Phillips Girls Education Fund Funds to support the education of girls who have received admission to University in Africa was partially expended. ## Mummy Fowler Fund Fund to support the education of a university student in Nigeria was partially expended. Page 13 ## **ACT** ## **(African Child Trust)** ## **6. LIABILITIES** There are no outstanding debts at the date of the statement of assets and liabilities, which are owed, and which are secured by an express charge on any of the assets of the charity. ## **7. OPERATING LEASE COMMITMENTS** The Charity leases its office accommodation on non-cancellable operating lease. At 30 April, the charity had annual commitments of £6,988 (2021 - £6,988) under the lease which is renewed yearly. ## **8. GUARANTEES** No guarantees have been made, which result in an outstanding potential liability as at the year-end date . ## **9. RELATED PARTY TRANSACTIONS** Dr. K Onabolu, a Trustee, received remuneration of £42,000 for the year (2021: £42,000), together with payment of £2,400 to his pension plan (2021: £2,240). Further details can be found in note 2 above. There were no other related party transactions for the year (2021: none). Page 14