DocuSign Envelope ID: 4347CD52-52E2-4C03-9BE0-10AF1AC6EBD0
Charity number: 1160263
Company number: 09355505
(England and Wales)
WasteAid UK
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2020
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WasteAid UK Contents Page For the year ended 31 December 2020
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 9 |
| Detailed Statement of Financial Activities | 10 |
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WasteAid UK Report of the Trustees
For the year ended 31 December 2020
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 December 2020. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).
Chair's report
2020 was a year of considerable change for WasteAid and significant growth. The start of the year saw the signing of WasteAid's biggest UKAID project to date in Cameroon and the start of the delivery of a large corporate funded project in Bali, Indonesia. We were also contracted to undertake a small feasibility study in Malawi by the Scottish Government. This was all in addition to our ongoing UKAID SCCF projects in The Gambia and Kenya. However, if that was not change enough, in April WasteAid appointed its second Chief Executive, Ceris Turner-Bailes taking over from Mike Webster who had been the organisation's inaugural leader. Ray Georgeson stepped down from the board to provide key leadership in the transition period. In May, WasteAid signed a 900,000 Euro 2 year grant with the Finnish packaging company, Huhtamaki Group Plc to develop a Circular Economy Network in Vietnam, South Africa and India. Against this backdrop, WasteAid and its partner organisations also had to react to the Covid 19 pandemic. This meant that our UKAID projects were suspended, but WasteAid continued to support its partner organisations throughout the Summer. The pandemic also meant that there were significant changes to the delivery of our Indonesian project and our Circular Economy Network (CEN). All HQ monitoring visits to project areas were stopped in March 2020 and did not resume before the end of the year. The CEN was largely moved online. WasteAid's funding was also hit by the pandemic as some key corporate supporters were unable to follow through on their financial commitments during the FY.
In line with the new Chief Executive's remit, the organisation embarked on a period of restructure and reflection. The team grew significantly and was bolstered by international programme management professionals, our first ever Head of Finance, and several project managers in the countries where WasteAid was delivering the CEN. Towards the end of the year, our Partnership Engagement Manager position was created to provide dedicated support to WasteAid's non-institutional funders and to help identify further partnerships. WasteAid also embarked on an intense period of business development, enjoying success in this area with further projects being agreed in Cameroon and The Gambia and with other project proposals awaiting decisions in 2021. WasteAid also developed new partnerships with established international development organisations in order to share expertise and bid for larger funds that would have a deeper and wider impact on the waste crisis and its effects. However, the political uncertainty that accompanied the merging of DfID and FCO and the reduction of the 0.7% aid contribution meant that decisions on a lot of WasteAid's UKAID proposal development in that area were delayed. Despite these delays, it was heartening to see WasteAid shortlisted for funding in larger more competitive UKAID opportunities by the end of the year.
The new leadership of WasteAid focused internally too on improving systems and processes across the organisation to ensure that these were fit for purpose (and the size of organisation). At the same time, there was a renewed focus on programme quality and our programmatic approach and impact measurement spearheaded by the newly recruited Head of Programmes and Impact. An analysis of where the organisation was in terms of project delivery, necessitated some changes to its programmes, for example in Cameroon WasteAid identified a well-positioned private sector partner, RED-PLAST who would be key to the UKAID Match programme and to our programmes overall in Cameroon. By the end of the year, WasteAid had to resubmit its UKAID projects in order for the covid-related suspensions to be lifted and this again saw revisions in both activities and outcomes.
Aside from the growing project portfolio, WasteAid enjoyed success in developing further corporate partnerships. Biffa Plc continued to be a proud partner of WasteAid and extremely generous donors. WasteAid also signed a partnership agreement with an Edinburgh based blockchain company, Zumo. Aside from that unrestricted donations from The Fore, The William and Mabel Morris Foundation and the Dixon Foundation amongst others were gratefully received and contributed significantly to our unrestricted income. Towards the end of the year, WasteAid agreed a 2021 intervention in Cameroon funded by the multinational Bunzl Plc which is an exciting partnership. As we ended the year, there were a number of other corporate opportunities open to WasteAid which we hope to capitalise on in 2021.
WasteAid thanks all our partners, supporters, and donors for their continued support during 2020 and we look forward to continued support in the years to come.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees confirm that in the year the charity has acted in line with its objects for public benefit. The charity's website http://wasteaid.org sets out details.
FINANCIAL REVIEW
Reserves
The trustees have set a policy of holding a minmum of 3 months and a maximum of 6 months committed unrestricted expenditure as reserves.
Based on this, the target reserves for 2020 are £38,000 to £77,000. The reserves at 31 December 2020 are slightly below the minimum target mainly due to unrestricted reserves being used to fund projects during the period they were suspended as a result of the Covid-19 pandemic. The 2021 budget builds the unrestricted reserves back up to the target levels.
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WasteAid UK Report of the Trustees Continued For the year ended 31 December 2020
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity WasteAid UK Charity registration number 1160263 Company registration number 09355505 Principal address 483 Green Lanes, London. NW13 4BS
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr R L Georgeson (Appointed: 14 October 2020) (Resigned: 08 January 2020) Ms R C Wildblood Ms S Widdowson Mr J M Straight (Appointed: 13 January 2020) Mr H Silenga Independent examiners Aspreys Accountants Ltd 1607 Wellington Way Weybridge Surrey KT13 0TT
Approved by the Board of Trustees and signed on its behalf by
............................................................................. Ms S Widdowson
13/06/2021
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WasteAid UK
Independent Examiners Report to the Trustees
For the year ended 31 December 2020
Aspreys Accountants Ltd, being a member of the ICAEW, report to the trustees on their examination of the accounts of the charitable company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity'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 examiners statement
Since the Charitable company’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the listed bodies.
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 that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the 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
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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.
Aspreys Accountants Ltd 1607 Wellington Way Weybridge Surrey KT13 0TT
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WasteAid UK
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 December 2020
| Notes | Unrestricted | Restricted | 2020 | 2019 | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Income and endowments from: | |||||
| Donations and legacies | 2 | 54,288 | 309,295 | 363,583 | 271,208 |
| Other income | |||||
| Delivery of Services | 43,713 | - | 43,713 | 58,750 | |
| Total | 98,001 | 309,295 | 407,296 | 329,958 | |
| Expenditure on: | |||||
| Raising funds | |||||
| Costs of generating donations | (6,467) | (99) | (6,566) | (13,009) | |
| and legacies | |||||
| Charitable activities | |||||
| General Activities | (170,681) | (263,008) | (433,689) | (192,665) | |
| Other expenditure | (26,426) | (57,248) | (83,674) | (39,223) | |
| Total | (203,574) | (320,355) | (523,929) | (244,897) | |
| Net income/expenditure | (105,573) | (11,060) | (116,633) | 85,061 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 137,407 | 14,098 | 151,505 | 66,424 | |
| Total funds carried forward | 31,834 | 3,038 | 34,872 | 151,485 |
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Registered Number : 09355505
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WasteAid UK
Statement of Financial Position
As at 31 December 2020
| Notes Fixed assets Tangible assets 7 Current assets 8 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets The funds of the charity Restricted income funds 10 Unrestricted income funds 10 Total funds |
£ 2020 1,369 1,369 37,519 267,670 305,189 (271,686) 33,503 34,872 34,872 3,038 31,834 34,872 |
£ 2019 - |
|---|---|---|
| - | ||
| 25,000 127,385 |
||
| 152,385 | ||
| (900) 151,485 |
||
| 151,485 | ||
| 151,485 | ||
| 14,098 137,387 |
||
| 151,485 |
For the year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Ms S Widdowson Trustee
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WasteAid UK Notes to the Financial Statements
For the year ended 31 December 2020
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
WasteAid UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Funds
Some restricted funds received in advance has been deferred to reflect unspent balances, and some funding received in arrears has been accrued as at the 31st December 2020.
In the financial year, the following amounts were received from FCDO 2020: Cameroon (Ref: 205210-246 FHDV-D848-LP) £7,491, Gambia (Ref: ZQZ4-48V5-J7) £7567, Kenya (Ref: NMLM-MS34-YM) £3656
Tangible fixed assets
Tangible fixed assets with a value above £500, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment - 25% Straight line
2. Income from donations and legacies
| Donations received | 2019 2020 Restricted funds Unrestricted funds £ £ £ £ 271,208 363,583 309,295 54,288 271,208 363,583 309,295 54,288 |
|---|---|
3. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| This is stated after charging/(crediting): | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Accountancy fees | 1,812 | 1,469 |
4. Staff costs and emoluments
Total staff costs for the year ended 31 December 2020 were:
| Salaries and wages | 2020 £ 162,896 162,896 |
2019 £ 96,211 |
|---|---|---|
| 96,211 |
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WasteAid UK
Notes to the Financial Statements Continued
For the year ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| Administrative | 5 | 2 |
| 5 | 2 |
5. Trustee remuneration and related party transactions
R Georgeson was paid £43,605 for consultancy work during the year.
6. Comparative for the Statement of Financial Activities
| Income and endowments from: Donations and legacies Other income Total Expenditure on: Raising funds Charitable activities Other expenditure Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 228,574 58,750 287,324 (2,316) (147,203) (39,223) (188,742) 98,582 49,498 148,080 |
Restricted funds £ 42,634 - 42,634 - (45,462) - (45,462) (2,828) 16,926 14,098 |
2019 £ 271,208 58,750 |
|---|---|---|---|
| 329,958 | |||
| (2,316) (192,665) (39,223) |
|||
| (234,204) | |||
| 95,754 66,424 |
|||
| 162,178 |
7. Tangible fixed assets
| Cost or valuation Additions At 31 December 2020 Depreciation Charge for year At 31 December 2020 Net book values At 31 December 2020 |
Computer Equipment £ 1,825 |
|---|---|
| 1,825 | |
| 456 | |
| 456 | |
| 1,369 |
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WasteAid UK Notes to the Financial Statements Continued
For the year ended 31 December 2020
8. Debtors
| 8. Debtors | ||||
|---|---|---|---|---|
| 2020 | 2019 | |||
| £ | £ | |||
| Amounts due within one year: | ||||
| Other debtors | 37,519 | 25,000 | ||
| 37,519 | 25,000 | |||
| 9. Creditors: amounts falling due within one year | ||||
| 2020 | 2019 | |||
| £ | £ | |||
| Accruals and deferred income | 271,686 | 900 | ||
| 271,686 | 900 | |||
| 10. Movement in funds | ||||
| Unrestricted Funds | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/01/2020 | resources | resources | 31/12/2020 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 137,407 | 98,001 | (203,574) | 31,834 |
| 137,407 | 98,001 | (203,574) | 31,834 | |
| Unrestricted Funds - Previous year | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/01/2019 | resources | resources | 31/12/2019 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 49,498 | 287,324 | (199,435) | 137,387 |
| 49,498 | 287,324 | (199,435) | 137,387 |
Purpose of unrestricted Funds
General
General Charitable Activities
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WasteAid UK
Notes to the Financial Statements Continued
For the year ended 31 December 2020
Restricted Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 01/01/2020 | resources | resources | 31/12/2020 | |
| £ | £ | £ | £ | |
| Bunzl plc | - | 94,000 | (94,000) | - |
| Corra Foundation | - | 15,500 | (15,500) | - |
| FCDO - Gambia | 4,861 | 2,035 | (6,896) | - |
| FCDO - Kenya | 5,602 | (4,231) | (1,371) | - |
| FCDO- Cameroon | - | 28,147 | (28,147) | - |
| Huhtamaki | - | 87,359 | (87,359) | - |
| Other (inc <£10,000) | 3,635 | 13,519 | (14,116) | 3,038 |
| Unrestricted funds | - | 72,966 | (72,966) | - |
| used for match | ||||
| 14,098 | 309,295 | (320,355) | 3,038 | |
| Restricted Funds - Previous year | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/01/2019 | resources | resources | 31/12/2019 | |
| £ | £ | £ | £ | |
| FCDO - Gambia | 6,384 | 19,316 | (20,839) | 4,861 |
| FCDO - Kenya | 6,892 | 20,318 | (21,608) | 5,602 |
| Other (inc <£10,000) | 3,650 | 3,000 | (3,015) | 3,635 |
| 16,926 | 42,634 | (45,462) | 14,098 |
11. Analysis of net assets between funds
| Tangible | Net current | Net Assets | |
|---|---|---|---|
| fixed assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 1,369 | 33,503 | 34,872 |
| 1,369 | 33,503 | 34,872 | |
| Previous year | |||
| Tangible | Net current | Net Assets | |
| fixed assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | - | 151,485 | 151,485 |
| - | 151,485 | 151,485 |
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WasteAid UK Detailed Statement of Financial Activities
For the year ended 31 December 2020
| INCOME AND ENDOWMENT Donations and legacies Donations Other income Delivery of Services Total incoming resources EXPENDITURE Raising donations and legacies Cost of Fundraising Charitable activities Cost of Charitable Activities Staff costs - wages & salaries Other Cost of Delivery of Services SUPPORT COSTS Governance costs Accountancy fees Legal fees Printing, postage and stationery Sundries Insurance Bank charges Total resources expended Net Expenditure |
£ 2020 363,583 363,583 43,713 43,713 407,296 (644) (644) (270,793) (162,896) (433,689) (83,674) (83,674) (1,812) (600) (1,147) (1,606) (618) (139) (5,922) (523,929) (116,633) |
£ 2019 271,208 |
|---|---|---|
| 271,208 58,750 |
||
| 58,750 | ||
| 329,958 (2,316) |
||
| (2,316) (96,454) (96,211) |
||
| (192,665) (39,223) |
||
| (39,223) (1,469) (397) (3,075) (4,134) (1,481) (137) |
||
| (10,693) | ||
| (244,897) | ||
| 85,061 |
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This page does not form part of the statutory financial statements