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2024-02-29-accounts

Charity registration number 1163227

Company registration number 08915453 (England and Wales)

LARCHFIELD TANZANIA HOMES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

LARCHFIELD TANZANIA HOMES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees James Boyd Berry
Charles Michael Kenny
Julian Alexandra Skidmore
Charity number 1163227
Company number 08915453
Registered office 222 Meadvale Road
Ealing
London
W5 1LT
Independent examiner Gravita III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA

LARCHFIELD TANZANIA HOMES

CONTENTS

Page
Trustees' report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 8

LARCHFIELD TANZANIA HOMES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2024

The trustees present their annual report and financial statements for the year ended 28 February 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The objective of Larchfield Tanzania Homes is to build and operate a children's home and primary school in Mkuranga, Dar-es-Salaam, Tanzania.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Larchfield Tanzania Homes (LTH's) will be responsible for building and directing the running and management of the children's home rather than simply funding it. Management and monitoring of the building work will be carried out as part of the voluntary work performed by LTH's team of volunteers and locally licensed architectural firms in Tanzania.

Achievements and performance

The charity was incorporated on 27 February 2014 and commenced fundraising activities in September 2014.

Financial review

During the period donations of £78,671 were received.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee and not having a share capital.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

James Boyd Berry Charles Michael Kenny Julian Alexandra Skidmore

The power of appointment of trustees is vested in the members and existing trustees.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

James Boyd Berry Trustee

28 November 2024

LARCHFIELD TANZANIA HOMES

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF LARCHFIELD TANZANIA HOMES

I report to the trustees on my examination of the financial statements of Larchfield Tanzania Homes (the charity) for the year ended 28 February 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

Gravita III LLP Paul Woosey ACA, FCCA Aldgate Tower 2 Leman Street London E1 8FA

Dated: 28 November 2024

LARCHFIELD TANZANIA HOMES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 28 FEBRUARY 2024

**Unrestricted ** Unrestricted
funds funds
2024 2023
Notes £ £
Income and endowments from:
Donations and legacies 2 78,671 13,650
Other income 3 - 500
Total income 78,671 14,150
Expenditure on:
Charitable activities 4 27,869 1,188
Net income for the year/
Net movement in funds 50,802 12,962
Fund balances at 1 March 2023 16,269 3,307
Fund balances at 28 February 2024 67,071 16,269

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LARCHFIELD TANZANIA HOMES

BALANCE SHEET

AS AT 28 FEBRUARY 2024

Notes
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
9
Net current assets
Income funds
Unrestricted funds		 2024
£
69,771
(2,700)		 £
67,071
67,071
67,071		 2023
£
17,919
(1,650)		 £
16,269
16,269
16,269

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 28 November 2024

James Boyd Berry

Trustee

Company registration number 08915453

LARCHFIELD TANZANIA HOMES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

1 Accounting policies

Charity information

Larchfield Tanzania Homes is a private company limited by guarantee incorporated in England and Wales. The registered office is 222 Meadvale Road, Ealing, London, W5 1LT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

LARCHFIELD TANZANIA HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2024

1 Accounting policies

(Continued)

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8 Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

2 Donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 78,671 13,650

LARCHFIELD TANZANIA HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2024

3 Other income
Total Unrestricted
funds
2024 2023
£ £
Other creditors write off - 500

4 Charitable activities

Other
Grant funding of activities (see note 5)
Share of support costs (see note 6)
Share of governance costs (see note 6)		 2024
£
-
25,008
148
2,713
27,869		 2023
£
16
-
134
1,038
1,188

5 Grants payable

2023
2024
£ £
Grants to institutions (1 grants):
Grant to Larchfield Charity Organization 25,008 -

Included within charitable activities is a grant payment of £25,008. Larchfield Charity Organization (LCO) is the orphanage home located in Dar Es Salaam, Mkuranga, Tanzania. It is this charity that is supported by Larchfield Tanzania Homes. LCO has an account with PricewaterhouseCoopers Tanzania who disburses funds towards operations of LCO and for any specific project at LCO such as building construction, repairs and maintenance.

LARCHFIELD TANZANIA HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2024

6
Support costs
Support
costs
Governance
costs
£
£
Bank charges
148
-
Accountancy
-
2,713
148
2,713
Analysed between
Charitable activities
148
2,713		 2024
Support
costs
Governance
costs
£
£
£
148
134
-
2,713
-
1,038
2,861
134
1,038
2,861
134
1,038		 2023
£
134
1,038
1,172
1,172

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or expenses during the year.

8 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2024 2023
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.
9 Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors - 150
Accruals and deferred income 2,700 1,500
2,700 1,650