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← Act (African Child Trust)

2024-04-30-accounts

ACT (African Child Trust)

(AFRICAN CHILD TRUST)

REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

ACT (African Child Trust)

INDEX TO THE FINANCIAL STATEMENTS

Page
Trustees’ Report 1-7
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11-22

ACT (African Child Trust)

REFERENCE AND ADMINISTRATION DETAILS

TRUSTEES: G. HOWES - CHAIR
C. AMIAKA
A. OLUFEYIMI(Resigned Jan 2024)
N. AMIAKA
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: CHAWEEVAN WILLIAMS FCCA
Verdant Accountants
20-22 Wenlock Road
London N1 7GU

ACT (African Child Trust)

TRUSTEES’ REPORT ON THE WORK OF THE AFRICAN CHILD TRUST

FOR THE YEAR ENDED 30 APRIL 2024

PURPOSE AND IMPACT

ACT was formed in 1998 with the vision to help break the cycles of poverty among some of the most marginalised groups in sub-Saharan Africa, namely disadvantaged orphans, fatherless children and widows. We are doing this by providing the disadvantaged children access to education to enable them to reach their full potential in life. We are empowering the widows in-need, who typically are single mothers, grandmothers and/or female guardians or relatives that look after the children. We are doing this through counselling and business skills training, so that they can generate income sustainably to support themselves and their families. We are enriching the entire community through our work and carrying out projects in education, health and sanitation with long term benefit. More than 25 years on we are able to demonstrate the impact of our work with clear evidence of our achievements in pursuit of the overarching goal.

We fund our projects through such charitable activities within the UK, Africa and worldwide that the trustees approve. By enabling the children to access education from primary school through to higher education and ultimately to employment, 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:

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, having their own children and able to support their mothers or guardians and their siblings. They are also giving back to their communities, materially, providing practical support like mentoring the younger children through their engagement with ACT. Further evidence that our work is having an impact is the decreasing numbers of people living in adject poverty in the communities where we work. Our work continues to be relevant and is very much needed in the effort to alleviate poverty in Africa.

We recognise that we have a lot more still to do as we work towards fulfilling our vision.

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ACT (African Child Trust)

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. Our work in the Democratic Republic of Congo and Malawi have been on hold since 2020 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. We work 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.

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 2024 were G. Howes, C. Amiaka, N. Amiaka, A. Olufeyimi, and Dr K. Onabolu. Mrs A Olufeyimi resigned as a trustee on 18 January 2024.

Staff

ACT is volunteer led, with a CEO and two paid staff in roles coordinating the work of the charity. Volunteering is at the core of our work both in the UK and in Africa. Our model is based on providing opportunities for people interested in the charity sector to join us as volunteers, interns, and placement students and learn from our work. Our effort in time training them is rewarded with their support for our work and minimises our staff costs. We are then able to use funds 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. Other staff members in paid roles are focused on our supporters’ care, communications, marketing, events, grant funding, training, and supervising our volunteers.

As of 30 April 2024, ACT had one employed staff in the UK, assisted by five volunteers.

Two additional staff members have since taken up their roles in the 2024/25 financial year.

Safeguarding

ACT Safeguarding Policy is firmly integrated into the general operation of the Charity, with a named Trustee assigned as responsible for both policy and procedures. Further evidence of the trustees’ commitment is their regular review of any issues arising at Board level. Safeguarding is a fixed agenda item at the Trustees bi-monthly meeting. New Trustees are inducted in safeguarding and required to sign the safeguarding policy. UK staff and volunteers are made aware of the policy as part of their induction. Our first international Safeguarding Conference (virtual) was held in January 2023 and brought together trustees and staff in the UK with our overseas partners and their staff responsible for safeguarding. A safeguarding conference will be held each year. ACT partners overseas are required to adopt and implement

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ACT

(African Child Trust)

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 from these are shared across the ACT partnership network. Procedures are reviewed regularly 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.

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 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 impact of the Covid-19 pandemic on our work in the UK has reduced to a very low level. We now operate a hybrid office with staff working two days in the Croydon office and three days remotely. We have adapted our systems and now operate with remote technology, enabling staff to carry out their work remotely or from the office. Our staffing level is back to normal, with new volunteers and interns joining our team. Trustees have resumed overseas project monitoring visits to meet up with our partners and beneficiary women and children.

Feedback and reports from our partners and from our recent visits overseas indicated that while the spread of the Covid disease is mostly over, the negative economic impact that resulted remains and is compounded by the high cost-of-living crisis.

Cost of living Crisis

Russia’s invasion of Ukraine in February 2022 is the cause of the current global Inflation which has crippled the economy of many African countries and led to the high cost of fuel, energy, transportation costs and food inflation. As is often the case, it is the disadvantaged children, orphans and widows who are affected most by these crises. We have increased our funding for the children and widows and doubled the amount of support we give to children at university and higher education, as tuition fees, accommodation and cost of food have gone up. So far our finances have withstood the challenge of the cost-of-living crisis. This is testimony to the strong support we continue to receive from our core donors and child sponsors.

ACHIVEMENTS AND PERFORMANCE

We marked our 25[th] anniversary in 2023. 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 continue to work through the plan that

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ACT (African Child Trust)

sets out how we will reach our goals and monitoring the indicators that tell us whether we are making progress. Our achievements in 2023/24 indicate that we are making progress towards this end, but at a slower pace than we had hoped

due to the impact of the Covid-19 pandemic followed by the recent cost of living crisis. These have impacted on our work and affected our progress as described above.

Sponsored Children

In 2023/24 we increased the numbers of orphans and disadvantaged children benefitting directly from our support. Ninety-four (94) additional children received full education and welfare support, bringing the number of children in this category to one thousand eight hundred and twenty-six (1,826), an increase of six percent (6%). The newly supported children are in Nigeria. Fifty-six percent are girls (56%) which is the same as in the previous year. In 2023/24 nineteen percent (19%) of children receiving on-going educational support were attending primary school, sixty per cent (60%) were in secondary school, nearly thirteen per cent (12.8%) in universities and seven and half per cent (7.5%) were studying for a diploma or certificate at a tertiary institution. Twenty two (22) children completed tertiary education in this period. Among them were thirteen (13) university graduates, six (6) received national diplomas and three (3) received certificates of learning. In addition to children receiving education and welfare support, five thousand three hundred and seventy two (5,372) siblings received welfare support including food, clothing, and health care support. In 2023/24 £77,530 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 widows in need in the countries where we work. Significant numbers of the women (widows) who had benefitted from the training programme have set up their own small 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 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 2023/24 there were 109 new animal births, increasing the total number of animals to more than four-fold and provided significant nett income for the supported families.

Countries of Operation

ACT is currently working with eight (8) partner organisations in eight (8) countries of Africa namely Burkina Faso, the Democratic Republic of Congo, Kenya, Malawi, Nigeria, Tanzania, Uganda and Zambia. Our work in the Democratic Republic of Congo and Malawi are currently on hold.

Missions Visits

There was a monitoring missions’ trip to Nigeria in 2023/24.

Expenditure

In 2023/24 the expenditure of the charity was £222,583 compared to £254,751 in the previous year, a decrease of £32,168 (-12.6%). The decrease was mainly attributable to the adoption of SORP FRS 102. ACT had to make a prior year adjustment by providing for the constructive obligation liability of £69,350 in 2022/23 (see Note 11).

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ACT (African Child Trust)

FINANCIAL REVIEW

Financial information

The Charity’s statement of financial activities and balance sheet are set out on pages 9 and 10. The Charity’s income during the year amounted to £256,964 and the split is as follows:

Donations: £
Donations - Child Sponsorship (CSP) 61,385
Donations - Other Gifts 57,641
Grants 49,845
Tax Reclaim 22,461
Others 8,053
Other income:
Fundraising Events 53,650
Interest Received 3,929

There has been an increase (21.7 percent) in the Charity's income in 2024, fundraising events increased compared to 2023.

Reserves Policy

The reserves policy is focussed on achieving the outcomes that are integral to the objects of the charity and mitigating the risks that might accrue as a result. Trustees consider the key measure of sustainability of the charity to be current and future liquidity cover rather than the surplus or deficit accounting position. Consequently, trustees have set an appropriate reserves policy, which is reviewed annually relating to liquidity, based on the balance between readily realisable assets and the cash required to settle grant liabilities and sustain ACT operations for an anticipated period. Integral to the grant liabilities is the need to ensure adequate funds are available to support sponsored children that are continuing in education all through from primary, secondary, and up to university or other tertiary level. This means that in most cases the Charity commits to support each child on our programme, possibly for 14 years or more, while also continuing to take on additional disadvantaged children in need into our programme, as funds permit.

The majority of the charity’s income consists of donations and gifts from individuals 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 high inflation resulting in increasing education costs, in addition to rising cost of living, weakness in currencies, climate change factors and political unrest, all of which can affect the intended outcomes, as are currently being experienced by the beneficiaries in the countries where we work in Africa.

Trustees therefore require that sufficient funds are retained to cover the costs of the children’s educational support, including university fees for each following year. In addition to cover staff salaries for 3 months. Based on the current grants position, this policy requires us to hold between £82k and 88k as funds designated for the children’s educational support in the 2023/24 financial year. Trustees have also designated £36,000 to account for 6 months’ salary for two new staff expected to take up their roles in July 2023 as part of the strategic investment for growth and 3 months operational running costs.

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 reporting 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.

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ACT (African Child Trust)

Below is a summary of the CSP disbursement to ACT partner organisations.

CSP spending 2023/24

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
-
2
-
1
2
1
1		 25
-
57
-
161
156
37
5		 5,299
-
14,235
-
17,540
24,998
9,915
4,376		 6.9%
-
18.7%
-
23.0%
32.7%
13.0%
5.7%
Total 8 441 76, 363 100

In 2023/24 the CSP spending breaks down as follows:

In Burkina Faso the amount spent was as follows: Hope Mission (£5,299).

In Congo - no fund was sent, as partners are in transition (£0)

In Kenya the amount spent were as follows: JTAN, Webuye (£9,239) and I-Afrika, Lusigetti (£4,996)

In Malawi - no fund was sent. We currently have no partnership in country (£0)

In Nigeria the amount spent was as follows: CDLI, Ipaja (£17,540).

In Tanzania the amount spent was as follows: Tanzania Assemblies of God, Chumbageni (£4,376) and ADA, Kagera (£20,622).

In Uganda the amount spent was as follows: Christian Vision/Elim Church, Jinja (£9,915).

In Zambia the amount spent was as follows: Hands of Mercy, Ndola (£4,376).

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:

Annies Orphans Amlwch Pentecostal Church, Anglesey House of Hope International Church Billingshurst Family Church Chiltern Church, Sutton New Life Christian Centre, Croydon Belacqua Trust Croydon Tabernacle, Croydon RCCG Builders House, Croydon Corporate Messengers The Oak Trust RCCG The Sanctuary, London The Connop Trust Thriplow Charitable Trust RCCG Victory House, London Gilchrist Educational Trust Tobi Adeyemi Foundation St George’s Church, Waterlooville Nilec Limited Samaritan's Purse Canada Wales AOG, Bangor

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(African Child Trust)

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

ON BEHALF OF THE TRUSTEES:

Kunle Onabolu

Mrs G. Howes

Dr. K. Onabolu

Date: 2024

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ACT (African Child Trust)

INDEPENDENT EXAMINER’S REPORT

Independent examiner’s report to the trustees of African Child Trust.

I report on the financial statements of the charity for the year ended 30 April 2024, which comprise the statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’). The Charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to examine the accounts under section 145 of the Charities Act, follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and state whether particular matters have come to my attention.

Independent examiner’s statement

As the charity’s gross income exceeded £250,000 I am qualified to undertake the examination because I am a registered member of the Association of Chartered Certified Accountants which is one of the listed bodies.

(1) In connection with my examination, no material matters have come to my attention which give me cause to believe that, in any material respect:

(2) 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.

Chaweevan Williams FCCA Verdant Accountants Limited Chartered Certified Accountants 20-22 Wenlock Road, London N1 7GU

Date: 08 October 2024

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ACT (African Child Trust)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 APRIL 2024

Income and endowments
Donations and legacies
Notes
Donations- Child Sponsorship (CSP)
Donations - Other Gifts
Grants
Tax Reclaim
Others
Other Trading Activities
Fundraising Events
Investments
Interest Received
Total income and endowments
Expenditure
Expenditure on raising funds
Fundraising Costs
3
Expenditure on charitable activities
Child Sponsorship Programme (CSP)
Missions Programme
UK Support Cost of Programmes
4
Community Project
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 37,354
24,031
52,687
4,954
2,185
47,660
22,461
-
8,053
-
53,650
-
3,929
-
180,319
76,645
42,504
1,576
25,376
52,154
-
-
74,619
6,373
232
19,749
142,731
79,852
37,588
-
(3,207)
-
37,588
(3,207)
58,519
85,858
96,107
82,651
Unrestricted
Restricted
funds
funds
£
£		 61,385
57,641
49,845
22,461
8,053
53,650
3,929
256,964
44,080
77,530
-
80,992
19,981
222,583
34,381
-
34,381
144,377
178,758
Total
2024
£		 65,919
59,537
61,625
20,161
50
2,980
880
Total
2023
Restated
£
211,152
18,414
136,301
4,748
68,738
26,550
254,751
(43,599)
-
(43,599)
187,976
144,377

The notes on pages 11 to 22 form part of these accounts.

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ACT (African Child Trust)

BALANCE SHEET

AS AT 30 APRIL 2024

Current assets
Notes
Debtors
7
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within 1 year
8
Net current assets
NET ASSETS
9
REPRESENTED BY:
Funds:
Restricted funds
10
Unrestricted funds - Designated
10
Unrestricted funds - General
10		 Current assets
Notes
Debtors
7
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within 1 year
8
Net current assets
NET ASSETS
9
REPRESENTED BY:
Funds:
Restricted funds
10
Unrestricted funds - Designated
10
Unrestricted funds - General
10		 2024
£
1,307

253,305

254,612
(75,854)

178,758

178,758
82,651
84,491
11,616

178,758		 2023
£
2,015

214,320

216,335
(71,958)

144,377

144,377
85,858
58,200
319

144,377

APPROVED BY THE TRUSTEES ON 2024 AND SIGNED ON THEIR BEHALF BY:

Kunle Onabolu Mrs G. Howes Dr. K. Onabolu

The notes on pages 11 to 22 form part of these accounts.

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ACT (African Child Trust)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below.

a) Basis of accounting

These accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP (FRS 102)) effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 for the first time. Therefore, the preceding period accounts have been restated for consistency. Please refer to Note 11 for reconciliations between the accounts previously prepared using Receipts and Payments basis and the accounts prepared in accordance with Charities SORP (FRS 102).

The Charity constitutes a public benefit entity as defined by FRS 102.

b) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

c) Fund accounting

d) Income recognition

All income is recognised in the Statement of Financial Activities when the charity is entitled to the income, it is probable that the income will be received and the amount of income can be measured reliably. The following specific policies are applied to particular categories of income:

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ACT

(African Child Trust)

d) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured or estimated reliably.

Expenditure is recognised on an accrual basis as a liability is incurred:

e) Fixed Assets

The costs of minor additions or those costing below £750 are not capitalised. Tangible assets over £750 are capitalised and included at costs. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost on a straight line bases over their expected useful economic lives as follows;

Computer equipment over 3 years

f) Pension

The charity has defined contribution arrangements for some of its employees and the costs of the contributions are accounted for as they are payable for the year of employment .

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ACT (African Child Trust)

2. STATEMENT OF FINANCIAL ACTIVITIES BY FUND

Income and endowments
Donations and legacies
Notes
Donations- Child Sponsorship (CSP)
Donations - Other Gifts
Grants
Tax Reclaim
Others
Other Trading Activities
Fundraising Events
Investments
Interest Received
Total income and endowments
Expenditure
Expenditure on raising funds
Fundraising Costs
3
Expenditure on charitable activities
Child Sponsorship Programme (CSP)
Missions Programme
UK Support Cost of Programmes
4
Community Project
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted funds
Total
Total
2024
2023
£
Restated
£
37,354
38,720
52,687
43,322
2,185
6,024
22,461
19,661
8,053
50
53,650
2,980
3,929
880
180,319
111,637
42,504
18,299
25,376
95,404
-
4,748
74,619
68,026
232
1,289
142,731
187,766
37,588
(76,129)
-
703
37,588
(75,426)
58,519
133,945
96,107
**58,519 **		 Restricted funds
Total
Total
2024
2023
£
Restated
£
24,031
27,199
4,954
16,215
47,660
55,601
-
500
-
-
-
-
-
-
76,645
99,515
1,576
115
52,154
40,897
-
-
6,373
712
19,749
25,261
79,852
66,985
(3,207)
32,530
-
(703)
(3,207)
31,827
85,858
54,031
82,651
85,858

.

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ACT (African Child Trust)

3. COSTS OF RAISING FUNDS

3. COSTS OF RAISING FUNDS
Basis
of
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 fees
25%
Office maintenance
25%
Heat, light and water rates
25%		 Unrestricted
funds
£
Restricted
funds
£
Total
2024
£
21,555
-
21,555
96
-
96
513
-
513
2,450
-
2,450
93
-
93
1,945
-
1,945
58
-
58
14,151
1,576
15,727
-
-
-
-
-
-
205
-
205
180
-
180
427
-
427
831
-
831
42,504
1,576
44,080
Basis
of
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 fees
25%
Office maintenance
25%
Heat, light and water rates
25%		 Unrestricted
Restricted
Total
funds
Restated
£
funds
Restated
£
2023
Restated
£
307
-
307
22
-
22
135
-
135
322
-
322
132
-
132
2,060
-
2,060
58
-
58
14,017
115
14,132
14
-
14
68
-
68
225
-
225
180
-
180
474
-
474
285
-
285
18,299
115
18,414

Page 14

ACT (African Child Trust)

4. UK SUPPORT COSTS OF PROGRAMMES

4. UK SUPPORT COSTS OF PROGRAMMES
Basis
of
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 fees
75%
Office maintenance
75%
Bank charges and interest
100%
Heat, light and water rates
75%		 Unrestricted
funds
£
Restricted
funds
£
Total
2024
£
96
-
96
2,051
-
2,051
3,676
-
3,676
93
-
93
5,834
-
5,834
174
-
174
56,603
6,303
62,906
-
-
-
-
-
-
615
-
615
540
-
540
1,281
-
1,281
1,162
70
1,232
2,494
-
2,494
74,619
6,373
80,992
Basis
of
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 fees
75%
Office maintenance
75%
Bank charges and interest
100%
Heat, light and water rates
75%		 Unrestricted
Restricted
Total
funds
Restated
£
funds
Restated
£
2023
Restated
£
22
-
22
538
-
538
483
-
483
132
-
132
6,180
-
6,180
174
-
174
56,068
459
56,527
57
-
57
68
-
68
675
-
675
540
-
540
1,422
-
1,422
812
253
1,065
855
-
855
68,026
712
68,738

Page 15

ACT (African Child Trust)

5. STAFF COSTS

The aggregate payroll costs were as follows:

Salaries and wages
Social security costs
Pension costs (defined contribution scheme)		 2024
£
73,941
2,144
2,547

78,632		 2023
£
66,206
1,772
2,681

70,659

No staff received employee benefits (excluding employer pension costs) of more than £60,000 during the year (2023: none).

The monthly average number of staff (including senior management personnel) employed by the charity during the year was as follows:

Full time equivalents of staff employed
6. TRUSTEES’ REMUNERATION AND BENEFITS
Remuneration
Pension costs (defined contribution scheme)
Number of trustees		 2024
No.

3.4
2024
£
42,000
2,400

44,400

1		 2023
No.

2.0
2023
£
42,000
2,400
44,400
1

No other Trustee have been paid any remuneration or received any other benefits during the year (2023: none).

7. DEBTORS

Accrued income
Prepayments		 2024
£
1,133
174

1,307		 2023
£
1,841
174

2,015

Page 16

ACT (African Child Trust)

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
Child Sponsorship Programme (CSP)
Taxation and social security
Other creditors		 2024
£
1,540
72,980
1,220
114

75,854		 2023
£
1,620
69,350
988
-

71,958

The trustees have accrued as a liability disbursements payable under its Child Sponsorship Programme based on funding for two school terms and full academic year for university students. Although each child is subject to periodic review, the Charity normally accepts the school or university progress report as the basis for continued funding. Since the progress of the children and the assessment of their progress are both outside of the control of the trustees, a full accrual for this commitment is made.

Movement in funding commitments for Child Sponsorship Programme
during the year
Funding commitments recognised as at 1 May 2023
New funding commitments charged to the SoFA in the year
Funds paid during the year
Amount of funding commitments recognised as at 30 April 2024		 Charitable
commitments
accrued
£
69,350
77,530
(73,900)

72,980

9. ANALYSIS OF NET ASSETS

Current assets note 7 plus cash
Current liabilities note 8
Net assets
Current assets note 7 plus cash
Current liabilities note 8
Net assets		 General
funds
Designated
funds
Restricted
funds
Total
2024
£
£
£
£
14,490
157,471
82,651
254,612
(2,874)
(72,980)
-
(75,854)
11,616
84,491
82,651
178,758
General
funds
Designated
funds
Restricted
funds
Total
2023
£
£
£
£
2,927
127,550
85,858
216,335
(2,608)
(69,350)
-
(71,958)
319
58,200
85,858
144,377

Page 17

ACT (African Child Trust)

10. MOVEMENTS IN FUNDS

Restricted funds
Anicet Donard Medical Scholarships
Individual Donations (Community Proj)
Charles Hayward Foundation
Accenture
Investment One (Dignity)
Samaritan's Purse (Dignity)
Jepthah Mulenga-Mutale
Individual Donations (Widows Proj )
IAfrika
CSP Direct
Martin Philips Girls' Education Trust
Mummy Fowler Fund
Individual & CAF Donations (CSP)
Austin Bailey (Uganda)
Belaqua Trust
Samaritan's Purse (Ngara)
Gilchrist Trust
Haramead Trust (Ngara)
Peter Stebbings (Tanzania)
Oak Trust
Souter Trust
Barnabas Trust
A Trust
Tobi Adeyemi Foundation
Total restricted funds
Unrestricted funds:
Designated funds
General funds
Total unrestricted funds
Total funds		 As at 1 May
Receipts
Payments
Net
As at 30 April
2023
Restated
transfers
2024
£
£
£
£
£
20,583
5,454
(4)
-
26,033
4,377
40
-
(2,692)
1,725
1,399
-
(6,314)
4,915
-
77
-
-
(77)
-
2,225
-
-
(2,225)
-
10,888
27,476
(17,561)
-
20,803
5,640
1,200
-
-
6,840
40
200
-
-
240
352
2,101
(1,171)
-
1,282
8,499
21,998
(21,905)
-
8,592
9,559
1,274
(747)
-
10,086
240
-
-
-
240
1,039
720
(824)
(935)
-
-
1,000
(663)
-
337
-
1,000
-
-
1,000
-
5,200
-
-
5,200
-
1,170
(1,170)
-
-
7,718
-
(7,718)
-
-
3,652
-
-
(3,652)
-
750
1,000
(1,750)
-
-
2,725
-
(7,275)
4,550
-
-
2,000
(3,108)
1,108
-
992
-
-
(992)
-
5,103
4,812
(9,642)
-
273
85,858
76,645
(79,852)
-
82,651
58,200
52,115
(25,824)
84,491
319
128,204
(116,907)
11,616
58,519
180,319
(142,731)
-
96,107
144,377
256,964
(222,583)
-
178,758

Page 18

ACT (African Child Trust)

10. MOVEMENTS IN FUNDS (CONTINUED)

Restricted funds
Anicet Donard Medical Scholarships
Individual Donations (Community Proj)
Charles Hayward Foundation
Accenture
Investment One (Dignity)
Samaritan's Purse (Dignity)
Jepthah Mulenga-Mutale
Jesus House Church (WSBT Malawi)
Individual Donations (Widows Proj )
IAfrika
IAfrika (Mazars)
CSP Direct
Martin Philips Girls' Education Trust
Mummy Fowler Fund
Individual & CAF Donations (CSP)
Ashworth Trust (CSP Nigeria)
Haramead Trust (Ngara)
Peter Stebbings (Tanzania)
Oak Trust
Souter Trust
A Trust
Tobi Adeyemi Foundation
Total restricted funds
Unrestricted funds:
Designated funds
General funds
Total unrestricted funds
Total funds		 As at 1 May
Receipts
Payments
Net
As at 30 April
2022
transfers
2023
Restated
Restated
£
£
£
£
£
15,147
6,636
(1,200)
-
20,583
1,882
2,495
-
-
4,377
7,713
-
(6,314)
-
1,399
278
-
(201)
-
77
3,839
550
(2,164)
-
2,225
-
10,888
-
-
10,888
3,440
2,200
-
-
5,640
703
-
-
(703)
-
365
200
(525)
-
40
697
2,670
(3,015)
-
352
-
15,000
(15,000)
-
-
5,341
23,723
(20,565)
-
8,499
1,945
8,760
(1,146)
-
9,559
240
-
-
-
240
159
880
-
-
1,039
197
-
(197)
-
-
-
10,000
(2,282)
-
7,718
5,000
-
(1,348)
-
3,652
-
750
-
-
750
5,000
5,000
(7,275)
-
2,725
-
2,100
(1,108)
-
992
2,085
7,663
(4,645)
-
5,103
54,031
99,515
(66,985)
(703)
85,858
133,340
53,124
(103,717)
(24,547)
58,200
605
58,513
(84,049)
25,250
319
133,945
111,637
(187,766)
703
58,519
187,976
211,152
(254,751)
-
144,377

Page 19

ACT (African Child Trust)

10. MOVEMENTS IN FUNDS (CONTINUED)

RESTRICTED FUNDS

Restricted funds are for the following purposes:

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 and associated subjects 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.

Austin Bailey. Trust

Grant was made to support the education of children in Uganda and 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 are ongoing and were partially expended.

Community Project

Samaritan’s Purse - Dignity Project, summer schools and general support ongoing. Charles Hayward Foundation - Support for Dignity Project ongoing

Accenture - Work team Support completed - balance transferred to University funding Donations from individual towards Community Projects partially expended.

Jephthah Fund

Fund to support special needs children and those born in extremely unfortunate circumstances. The fund is ongoing.

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.

Samaritan’s Purse (Cambridge Global)

Grant for Education in Ngara received late 2023-24, c/f to 2024-25

Page 20

ACT (African Child Trust)

11. PRIOR YEAR ADJUSTMENTS

On adoption of SORP FRS 102, the Charity has restated the comparative year’s figures and reconciled with the previous Receipts and Payments basis of accounting.

Reconciliation of funds per previous receipts and payments basis to funds determined under SORP FRS 102

Funds balances as previously stated
Adjustments for:
Constructive obligation provision
Accrued tax reclaim income
Prepayments
Accruals
Fund balance as restated		 At 1 May 2022
£
189,554
-
1,109
174
(2,861)

187,976		 At 30 April 2023
£
214,320
(69,350)
1,841
174
(2,608)

144,377

Reconciliation of net (payments) / receipts per previous receipts and payments basis to net (expenditure) / income under SORP FRS 102

Net (payments) / receipts as previously stated
Adjustments for:
Constructive obligation provision
Accrued tax reclaim income
Prepayments
Accruals
Net (expenditure) / income as restated		 General
funds
£
Designated
funds
£
Restricted
funds
£
Total at
30 April 2023
£
(1,271)
(5,790)
31,827
24,766
-
(69,350)
-
(69,350)
732
-
-
732
-
-
-
-
253
-
-
253

(286)
(75,140)
31,827
(43,599)

12. 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 (2023 - £6,988) under the lease which is renewed yearly.

13. GUARANTEES

No guarantees have been made, which result in an outstanding potential liability as at the year-end date.

Page 21

ACT (African Child Trust)

14. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

a) Trustees’ remuneration and benefits

Dr K Onabolu, Trustee received remuneration of £42,000 for the year (2023: £42,000), together with payment of £2,400 to his pension plan (2023: £2,400). 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 have been paid any remuneration or received any other benefits during the year (2023: none).

b) Trustees’ expenses

Travel
Subsistence
Accommodation
Visas
Vaccines
No. of trustees reimbursed for expenses or who had expenses paid by ACT		 2024
£
-
52
95
-
-

147

1		 2023
£
3,080
74
868
44
106

4,172

1

c) Other related party transactions

There were no other related party transactions during the year (2023: none).

Page 22