ALMA MATER EDUCATION
Charity no. 1159983
Report of the Trustees and
Financial Statements for the Year Ended
31 St January 2023

Alma Mater Education
Content
For the year ended 315t January 2023
Page
Legal and admini3tratlve details
Report of the Trustees
Independent examiner's report
Statement of finan¢lal actlvities
Balance sheet
Notes to the flnancial statements
8-17

Alma Mater Education
Legal and administrative details
For the year ended 31st January 2023
Status
The organisation is a registered charity, registered on the 16m January 2015.
Governing document
The charity is constituted as a Charitable Ineorporated Organisation.
Charlty number
1159983
Registered address
Flat 1
50 Ladbroke Grove
London
W11 2PA
Trustees
Trustees who seNed during the year and up to the date this report is signed, were as
follows..
Katharina Bielenberg
Tom Cronin
Christopher Bielenberg
Chades Easmon
Constsnce Agyeman
(appointed on 09th September 20191
(appointed on 09￿ September 20191
(appointed on 12th December 20191
lappointed on 31 &1 March 20201
lappoinled on 01" January 20211
Bankers
HSBC
16 King Street
Covent Garden
London
WC2E 8JF
Republic Bank Ghana Limited
35 Sixth Avenue
North Ridge
PO Box CT 4603
Cantonment5
A¢cra
Ahafo Ano Premier Rural Bank Ltd
Wioso
Kumasi
Ghana
Independent examiner
Chaweevan Wlliams FCCA
Verdanl A¢countants Ltd
21k22 Wenlock Road
London
N17GU
Page 1

ALMA
MATER
EDUCATION
Tru5tees'Annual Report
For the year endlng 31st January 2023
Report of Trustees
The charity which was constituted as a Charitable Incorporated Or8anisation was registered with the
Charity Commission on 16" january 2015. This report therefore, covers the first 8 years of the
chariws work during which time, there have been regular and consistent board meetings, scrutiny
and governance.
The objectives of the charity as set out below, have been primarily to provide excellent education to
students in rural communities in Ghana and we are delighted to report that these primary objects.ves
are being consistently met, as will be noted in this review.
Objectives and artlvltles
The charity's objects as set out in our governing document are:
To advance the reliel of poverty in under-re50urced communities, in Ghano, by supplyAng children
with 5econdt7ry level educotion including..
The main activities undertaken for the public benefit in relation to our objects are-
the construttion and management of Secondary schools in Ghana
the supplying of these schools with equipment necessary for formal education
the training of staff and teachers in effective management, accountability and teachin8 methods
and
providing financial management and strategic guidance to the schools.
Achlevements and performance
The year to 31" January 2023 was an extraordinarily busy year for Alma Mater Education both in
terms of improvements and infrastructure and the enhancement of our educational processes. As
evidence, our West African Examination Certificate, the principle measure of performance, with a
pass rate of 97.4%, were the best in our school district and amongst the top S% of the country as o
whole.
Page 2

Teaching and Academic Resources
The charity has been exclusively responsible for providing and funding the school's resources but has
entered into negotiation with the Ghana government in relation to the financing of teachers, salaries
and the feeding costs of our students. As a boarding school, students are fed 3 full meals a day, a
proportion of which is svpplied by the school farm, of which more later.
The AME facility is now an official examination centre for WAEC exams which has also required some
investment.
Infra5trutture Development
In the year to JanLtary 2023, there was a very signiftcant investment in the construction of a new
boys, dormitory which was completed in October 2022, has the capacity of 300 students 3nd now
houses 140 boys and their monitoring teachers.
Farm
We are happy to report that the farm under its new manager, Francis Amentesa, has shown marked
improvement and is now providing significant quantities of fresh vegetables to the school kitchen
and should be able in the coming year, to market cocoa, ginger and tvrmeric as additional cash
crops.
Fundraising
Alma Mater has been supported throu8hout its 8 years of existence by a number of generous
individuals, foundations and clubs totalling some 130 donors. In parkncular we mention with
gratitude, the Toni Garrn Foundation who have been particularly supportrve of all activities to do
with girls, welfare and has also built a medical facility in the local community and has raised funds to
build the extension of the girls. dormitory, currently under construction. Also of particvlar note,
have been Caroline and Georges Muller and the Rotary Club Hamburg-8ergedorf, together with
many other generou5 SUPPOrters. The Bielenberg Family Foundation continue5 Its support.
Plans for the future
In the current year 202314 additional dormitory capacity for girls, will be completed together with
additional and enhanced staff quarters. In order to secure future funding for Alma Moter, we will
continue to complete the Public Private partnership with the Ghana Educational Service, which will
ensure both better terms and conditions for our teaching staff and reduce the financial burden on
the charity. Ghana as a country is experiencing very high inflation due both to internal and global
factors. However, the weakness of its domestic currency has enabled some of our capital
investments to be completed at a lower cost for the charity.
Independent Exarniners
Verdant Accountants Ltd. were appointed as independent examiners to the charity during the year
ending Janvary 2022 and have agreed to continue their work.
Page 3

Reserves policy
The reserve5 policy of Alma Matef Educanon 15 to ensure the Iong-term susiainability of Ihe chariiy.
We ivork With funder5 10 gain medium- and long-terrn agreemenis io help preserve Alma Mater
Educaljon as a going concern. Donatrons of over £30.1IKJ have been rece5ved within six monihs ènd
furure commitments of over £60.OW have been secured. We are confident that Alma Maler
Educatton together with ihe suppon from the Ghana governrnent nienttoned above, will remain a
going con¢ern_
Statem
nt of rtS
on
es of h tru51
The iruslees are responsible for preparing ihe irustees, report and Ihe h"nancial staiements in
accordance with applicable law and United Kingdom Accounnng Standardg including Financial
Reporting Standard 102. The Financial Reporting slandJrd appli£able in ihe UK and the Republic of
Irelènd (United Kingdom Generall¥ Aicepted Accounttng Prachcel
The law applicable to charities in England and Wales requires the trustee lo prepare financial
sfalements for eèch financial year. whith give a Irue and fèir view of the slate ol affairs of ihe charily
nd the incoming resources ènd applicaty.on of re50urces. including the nei incame or eKpendilure of
the charity for ihe year. lrn preparing those h"nancial slalemenis the iru5tees are required to.
Selecl suiiable accounting policies and ihen apply them con515ienily
Observe the methods and principle5 in ihe Charits'e5 SORP
Make iudgemcnt5 and accountt.ng estr"mates that are reasonable artd prudent
5tèie whether applicable accounti"nE standards and staiements of recommended prattice
have been lollowed. subject to any material departures dlsclosed and explained in the
financial siaiemenis and
Prepare ihe h"nancial siaiemenis on the going concern basis unless il is inappffopriaie to
presume the charity will contr.rtue in operation
The Iru5tees are responsible fof keeping proper ?ccounvn8 records which Oisc105e with reasonable
accuracy at any trme ihe h"nancial position of the charity and thich enable them io ensure that Ihe
fifjaficial siatemenl Comply wilh the Companies Act 2(M)6. Ihe Charily (Accounis and Reportsl
Re8ulaty"ons 2LK18 and the provisions of the constttution. The irustee5 ore 0150 responsible for Ihe
safegtkafding of fraud and other irregularities.
The irusiees are responsible lor the maintenance ènd inte8rily of ihe corporaie and hnancial
infofmation included on the charity's website. Leeis16rion in the United Kin8dorn governin8 the
preparatt.on and dissernination of tinancial siaiement may differ from le8islatton in oiher
jurssdicnons.
Members of ihe charity have no liabilily lo contribute to the assets ot the chèri(v in the eveni of
ending up insolveni The Iru5tee5 are members of ihe charily. bul this ennrles ihem only lo votr"n8
rights, The tr
s have no benefi.cial inieresi in the charitv.
Christop
r Bielenbere. Chairman
Tuesday 28" November. 2023
Page 4

## **INDEPENDENT EXAMINER’S REPORT** 

## **To the trustees of Alma Mater Education** 

I report on the accounts of the above Charity for the year ended 31 January 2023, which comprises the statement of Financial Activities, the Balance Sheet and the related notes 1-15. 

## **Respective responsibilities of trustees and examiner** 

The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’). 

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. 

## **Basis of independent examiner’s report** 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. 

## **Independent examiner’s statement** 

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

   - the accounting records were not kept in accordance with section 130 of the Charities Act; or 

   - the accounts do not accord with the accounting records; or 

   - the  accounts  do  not  comply  with  the  applicable  requirements  concerning  the  form  and content of the accounts set out in the Charities (Accounts and Report) Regulation 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of independent examination. 

- (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** 

Date: 30 November 2023 

Chartered Certified Accountant Verdant Accountants Ltd 20-22 Wenlock Road London N1 7GU 

Page 5 



Alma Mater Education
Statement of financial actlvltles
For the year ended 31" January 2023
2023
2022
Note
Income from:
Grants Donations
Charitable acb'vities
Other trading activities.
131.694
222
229,923
2,447
Total income
131,916
232,370
Expenditure on:
Raising funds
Charitable activities
40
213,905
141.314
Total expenditure
141.314
213,945
Net Ineome l {expenditurg1 and net movement in funds.
{9.3981
18,425
Reconcillatlon of funds..
Total funds brought forward
286.320
267.895
Total funds carried fop•vard
276.922
286.320
All of the above results are derived from continuing activities. There were no other recognised gains or losses
other than those slated above. Movements in funds are disclosed in note 12 to the accounts.
All income and expenditure during the year was unrestricted.
Page 6

Nirna Mater Eduea16on
Balance sheet
As at 31", January 2023
2023
2022
Flxed 3ss•ts
Tangible assets
No
326.793
277 219
Curr¢ni Assets
Debtors
Cash ai bank and in hand
10
15.667
10.271
Llabililies
Crediiors amtsunts falling due wthin 1 year
16S.$3ei
11 170)
Net current as$¥ts
149.871}
9,101
Net a3$eis
276,922
286.320
Funds
unTestri￿ed fvtnds
General lund5
12
276.922
286.320
Total charity funds
276.922
286,320
Approved by ihe trustees on 29 November 2023 and signed on Ihew bellaff by
Chn510
er Bielenberg. Chairman
Page 7

Alma Mater Education
Notes to the financlal statements
For the year ended 3151 January 2023
1 Accounting policies
al Basis ol preparatlon
The financial statements have been prepared in accordance with A¢counting and Reporting by Charities
Statement of Recommended Practice applicable lo charities in preparing their. accounts in accordance
with the Finaneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1
January 20151- Icharilies SORP IFRS 10211.
Ajma Mater Education meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are Ini11311y recognised at historical cost or transaction value unless otherwise staled in the relevant
accounting policy note.
bl Going eoncem basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going
concern which the trustees consider appropriate having regard to future farm rentsl income generated
during 2018119. There are some material uncertainties about the charity's ability to continue as a going
concern. Further detail is provided in the trustees annual reporL
cl Income
Income is recognised when the charity has entillemenl to the fvnds ariy perf0m￿nCe conditions attached
lo the item of income have been mel, it Is probable that the income will be received and the amount can be
measured reliably.
Income from the govemment and other grants, whether 'capital' grants or 'revenue' grants, is recogni5ed
when the charity has enlitlemenl to the funds, any performance conditions attached lo the grants have
been mel, it Is probable that the income will be received and the amount can be measured reliably and is
not deferred.
dl Funds accountlng
Unreslricled funds are available to spend on activits.es that further any of the purposes of the charity.
Designated funds are unrestricted funds of the charity which the tru51ees have decided at their discretion lo
sel aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to
be solely used for particular areas of the charity's work or for specific projects being undertaken by the
charity.
el Expenditure and Irrecovevable VAT
Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third
paty, it is probable that setuement will be required and the amount of the obligation can be measured
reliably.
I￿eCoVerable VAT is charged at a cost against the activity for which the expenditure was incurred.
Page 8

Alma Mater Education
Notes to the finan¢lal statements
For the year ended 3151 January 2023
1 Accounting poli¢les (continued)
Allocation of support eosts
Support costs are those functions that assist the work of the charity but do not direcuy undertake
charitable activities Governan￿ costs are the costs associated with the governance atrangemenls of the
charity, including the costs of complying with consb'lulional and statutory requirements and any costs
assoryated with the strategic management of the charity's activities. These Costs have been allocated
be￿een cost of raising funds and expenditure on charitable activities on the following basis. which is
based on the proportion of direct costs..
2023
2022
Raising funds
Charitable activities
0.90%
99.10%
0.900
gl Tangible fixed assets
Depreciab'on is provided at rates calculated lo write down the cost of each asset to its eslimaled residual
value over ils expected useful life The depreciation rates in use during the current and prior period were
as follows..
Land
Freehold buildings
Plant and eqijipment
Not depreciated
20 years straight line
20 years straight line
h) Debtorn
Trade and other debtors are recoynised al the set￿ement amount due after any trade dI￿Ount offered.
Prepayments are valued at the amount prepaid nel of any trade discounts due.
l) Cash at bank and In hand
Cash at bank and cash in hand includes cash and short temi highty liquid investments wth a short
malurily of three months or less from the dale of acquisition or opening of the deposit or similar accounL
l) Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds to a thiTd party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally re¢ognised at
their 5ettiement amount after allowing for any trade discounts due.
kl Financial instruments
The charity only has financial asset5 and financial liabilities of a kind that qualify as basic fin8ncial
instruments. Basic financial instruments are initially recognised at transaction value and subsequenuy
measured at their settlement value with the exception of bank loans which are subsequently recognised
at amortised cost using the effective interest method.
11 Foreign cuirency transactions
Transactions in foreign currencies are translated at rates prevailing al the end of the month of the
transaction. 8alances denominated in foreign currencies a￿ translated al the rate of exchange prevailing
al the year end.
Page 9

Alma Mater Education
Notes to the financial statements
For the year ended 31st January 2023
1 Accountlng policies (continued)
ml Accounting estimates and key judgements
In the application of the charity's accounting policies the trustees are required to make judgements,
eslimales and assvmplions about the carrying values of assets and liabilities that are not readily apparent
from other sgurees. The estimates and underlying assumptions are based on historical experience and
other factors that are Considered to be relevant. Aelual results may differ from these estimates.
The estimates and undertying assumpb'ons are reviewed on an ongoing basis. Revisions lo accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that
period or in the period of the revision and future periods rf the revision affeels both current and future
periods.
The key sources of eslimalion uncertainty that have a significant effect on the amounts recognised in the
financial statements are described below.
n) Depreciation
As described in note 1 gl to the financial statements, depreciation is provided at rates calculated to write
down the cost of each asset to ils estimated residual value over its expected useful life. No Depreciation
in the year of donation on new dormitory.
2 Prior period ¢omparatives: statement of financial activities
2022
Total
Unrestn'cted
Income from:
Donations
Charitable activities
Other trading activities
229,923
2,447
229,923
2,447
Total ineome
232370
232370
Expenditure
Raising funds
Charitable activities
40
213,905
40
213905
Total expenditure
213945
213945
Net Income and net movement In funds
18,425
18,425
Page 10

Alma Mater Education
Notes to the financial statements
For the year ended 31 &t January 2023
3 Income from donations
2023
Total
Restricted Unrestrlcted
Bielenberg Family Foundation
Rotary Hilfe
The Toni Garm Foundation l AJG Model Support)
Christopher Bielenberg
Allan and Nesla Ferguson Twsl
Georges and Caroline Muller
The Quin Charitable Trust
Donations from individuals, £2,500 and less
36,000
21.169
4,225
36,000
21,169
4,225
15,000
55,300
15,000
55,300
Totsl donatlon8
131.694
131,694
Prior period comparatlve
2022
Restricted Unrestricted
Total
Bielenberg Family Foundation
Rotary Hilfe
The Toni Garm Foundation l AJG Model Support)
Christopher Bielenberg
Allan and Nests Ferguson Trust
Georges and Caroline Muller
The Quin Charitable Trust
Donats'on5 from individuals, £2.500 and less
52,283
5.106
69,386
17,447
52,283
5,106
69,386
17.447
21,750
63,951
21,750
63,951
Total donatlons
229,923
229,923
4 In¢ome from charitable activities
2023
Total
Reslricled Unrestricted
Income from school fges
222
222
Income from charitable aelivilies in the prior year was £2,446 and was fully unrestricted.
Page11

Alma Mater Education
Notes to the financial statements
For the year ended 31FT January 2023
S Total expendlture
SupF)Qrt and
governance
costs
Raising
funds
Charitable
acb'vilies
2023
Total
School equipment and running costs
Stsff costs- Ghana
Fundraising expenses
Farm Costs
School feeding
Home economics lab
Transport
Freelancer fees
Travel costs -UK
Administration costs
Accountancy
Depreciation
Bank charges and transfer fees
Foreign exchange Igains11 losses
Repairs & maintenance
30,128
55,144
30,128
55.144
3.405
10,002
3,405
10.002
16,575
2,925
1.639
6,800
1,320
19.500
1.639
6,800
1,320
15,093
650
14.0651
1,698
15,093
650
14,0651
1,698
Sub-total
130,347
10,967
141,314
Allocation of support and governance costs
Tolal expendituro
10,967
141,314
110,9671
141,314
Paye 12

Alma Mater Education
Notes to the flnancial statements
For the year ended 318l January 2023
5 Total expenditure (cont'd
Prior period eomparatlve
Support and
governance
costs
Raising
frjnds
Charitable
activitr'es
2022
Total
School equipment and running costs
Staff costs- Ghana
Fundraising expenses
Farm Costs
School feeding
Home economics lab
Transport
Freelancer fees
Travel costs -UK
Administration costs
Accountancy
Depreciation
Bank charges and transfer fees
Foreign exchange (gains11 losses
Repairs & maintenance
Sub-total
96,126
43,387
96,126
43.387
36
3,493
18,790
36
3,493
18.790
363
13,940
363
16,400
2.770
2,460
2,770
1,170
1,170
15,093
709
15,093
709
5,595
10,013
22,717
5,595
10.013
213,945
36
191,192
Allocation of support and govemance costs
Total expenditure
Total governance costs were £1,32012022'. £1,170).
22,713
213,905
(22,7171
40
213,945
6 Net rnovernent in funds
This is slated after charying..
2023
2022
DeP￿¢satIon
Tnjstees, indemnity insuran
Trustees, reimbursed expenses
Trustees, remuneration (see below)
Independent Examiner's remuneration (including VAD
15,093
15,093
1,320
1,170
Trustees, femuneration
No Iruslee was paid in 20231 Nil in 20221
Page 13

Alma Mater Education
Notes to the financial statements
For the year ended 31 St January 2023
7 Staff costs and numbers
Staff eosts were as follows..
2023
2022
Salaries and wages- Ghana
Freelance staff - UK
55.145
18,330
43,387
16,400
73.475
59,787
No employee earned more than £60,000 during the period. The key management personnel of the charity
are deemed to be the trustees. The total employee benefits paid to trustees were £ nil.
2023
2022
Average staff head count
36
38
8 Taxation
The charity is exempl from corporation tax as all Ils income is charitable and is applied for charitable
purposes.
9 Tanglble flxed assets
Land and
buildings
Plant and
equlpment
Total
Cost
Al 111 February 2022
Additions
324,559
64.668
28,280
350,839
64.668
At 31￿ January 2023
389,227
26.280
415.507
Depreciation
At February 2022
Charge for the year
67.788
13,779
5,833
1,314
73,621
1 S,093
At 3111 January 2023
81,567
7,147
88,714
Net book value
At 31*t January 2023
307.660
19,133
326.793
Al 315t January 2022
256,771
20,447
277,218
Page 14

Alma Mater Education
Notes to the financlal ststements
For the year ended 31. January 2023
10 Debtors
2023
2022
Other debtors
11 Creditors: amounts due within 1 year
2023
2022
Accruals
Other creditors
11.3201
164.2181
11,1701
165.5381
11,170}
Page 15

Alma Mater Education
Notes to the financlal statements
For the year ended 31 sl January 2023
12 Movements In funds
At1
February
2022
At31
January
2023
Income Expenditure
Unrestrlcted funds
General funds
286,320
131,916
(141,3141
276,922
Total funds
286,320
131,916
1141,3141
276,922
Prior year comparative
At1
February
2021
A131
January
2022
Income
Expenditure
Unrestrieted funds
General funds
267.895
232.370
1213,9451
286,320
Totsl funds
267,895
232,370
1213,9451
286,320
All funds are Unre$tri￿ed during the wrrent and previous years.
13 Related party transactions
During the year, a donation of £36.000 was received from the 8ielenberg Family Foundab'on 12022.
£52,283) The Foundab'on is wn by the family of Katharina Bielenberg, a Iruslee of Alma Mater Education.
Page 16

Alma Mater Education
Notes to the financial statements
For the year ended 3191 January 2023
14 Group structure
The UK reglstered charity has tsvo foreign subsidiaries under its control. The results of these entsties are
not consolidated in these financial statements as the charity is taking advantage of the exemption
pemiitted under the SORP for small groups.
15 Finan¢lal In$truments
2023
2022
Financial assets that are debt instruments measured at amortised cost..
Other debtors
Cash at bank and in hand
1 5,667
10,271
15,667
10,271
Financial liabilities measured al amortised cost..
Accruals
Other creditors
11.320)
164,2181
{1,1701
{6S.S381
11 1701
Page 17