DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 REGISTERED CHARrrY NUMBER.. 116334B uNAUD￿ED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 FOR THE CENTRE FOR AFRICAN ENTREPRENEURSHIP Bevan Bu(*land Ltd Ground Cardigan H￿$0 Casde Court Swansea Enterpnse Park Swansea SA7 9LA DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Page Me￿a9* from the CEO Report ofth• Trttst••s 2 to 15 Independent Examinerfs Report 18 Statement of Financial Activities 17 Balane¢ Sh••t 18 Cash Flow Statem•nt 19 Notgs to the Ca¥h Flow Statsment 20 Nots• to th• Flnanelal Ststsmènts 21 to 32 D•tslled Statement of FlnancSal Activitr DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP MESSAGE FROM THE CEO FOR THE YEAR ENDED 31 AUGUST 2025 This year marks 10 years of The CAE-a decade of empowennent. From opening OUT Communty Enterprise Hub in Swansea lo expanding support into Carmarthenshire. we've reathed new milestones that rellect both our growth and the resilience of those we serve in Ihis p8sl year. Together, we've helped people into jobs and businesses, strenglhened wdlbeing, and created sPa￿S vA)ere communities connect and thrive. These ach￿vementS belong lo everyone who has walked with us-staff, volunteers, partners, and benefiaaries. As wè look ahèad, we CArry fon¥ard this spirrt of(x)Ilalx)rab"on and FXM"tM"lrty, ready to Sha￿ Ihè nèxt thaptèr tsf tsurjoumèy. Thank you for stsnding with us as we continue to c(*create a Wales vthwe everyone can thiive. W8mi regards, Frand(8anza CEO, The CAE Page 1 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 On behaK of the Board of Trustees. l am WOLKI to present this Operations Repcrft al suth a sunfficant moment in The CAE'S journey. Re8chin9 our 10th 8nniveis8ry is not onty a Mi￿s1one of krywty, imrt a testsment lo the vision. v81ues, and perseveran￿ that have shaped the organisation &nce its lounding. Over the past year. the Board has seen The CAE ¢)Jntinue to mature as a tharity-strengthening its govemance. deepening its impact, and responding with compassion and agilrty lo a rapidty changing scoal and ecA)nomic landscape. The opening of the Communty Enletpnse Hub in Swansea marks a parti(JJLqty imp(Ktsnt step lotwaid. providing a permanent hotne for our work and a vit815pace ofopportuntiy, dignty, and ￿k)nging fot the commun￿.￿5 we Se￿8. As Trustees, our role is to provide oversMJht. support. and strategic direction. and we have been consistentty impressed by the dedication of the staff team. the commitment of our volunteers. and the leadership of our CEO. Most importandy, we remain inspired by the resilience. crethivty. and determination of our benefioarie5. whose joumeys oonlinue lo rernind us why this work matters. Looking ahead, the Board is commrtted to ensuring The CAE remains finanaally resi1￿nt, values-led. and impactful. We wll continue to uphdd the charity's MIS￿On, grounded in indusion. enterprise. and community, as we support the next phase of growth. We thank all who have contributed to The CAE over the past ye* *)d invite you to conbnue walking along%de us as we work together to buikj a fairef, more cc¥mpassicffiate Wales vthere everyone has the Opp￿inty to thrive. wrth gralilude, Rebecca Mamhende Chair of the Board of Trust89$ The CAE Page 2 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 EXECUTIVE SUMMARY Between September 2024 and August 2025. The CAE delivered 2.550 Servi￿ lo diredty support 850 indwidtjals. wth an extended indired read) of over 1.8(KJ pwple. We le￿1Ve￿ 170 new refeffaL% and maintained a diverse portfolio of community-led seNI￿S, from holistic wellbeing to enterprise coad)ing. Our interventions have ￿mained consistent in addressing both immediate needs and lonfrtem as￿ra￿OnS. a￿layS ￿ by the voices ofthe people we serve. This period rn8rked signthcant mI￿$toneS in our org8niS8IK)n81 joumey. We su(XES5tufy completed the renov81ion 8rTrd launch of our Cornrnunrty Enterprise Hub in January 202&a vibrant. muAi-use spa￿ desvjned by and for the comrnunty. This Spa￿ now serves as the central hub lor Se￿1￿ ddNery, community engagement, and innovation. We also launched the Small Business Voices podcast in May 2025. cseating a Fdatfom for Iccal entrepreneurs to share stories, challenges, and ideas. Our service users reftect the diver5rty and Corn￿e￿ty of Wales. a)rnfflunth"es." 54.1¢/o are men and 45.9tskn women,. 68trh disdosed a long-tem condrtion. illness, or disabilrty. Most individuals fell within the 1&39 age range, wrth strong representation frorn Black 137%). Latin American 119°1ol. aThJ Asian I19°￿) communrties. Their educational backgrounds were equalty varied, with neaty 10°/o having no formal education. while over 30°1ts hdd undergraduate or postgraduate degrees. Across 811 referrals. 864/0 needed employrnenl sup1￿rt. 58% 50ughl business developrnenl advi￿, and 7401¢ requested wellbeing services. Our holistic model supports these needs with wraparound provision, integrating job search support, entrepreneurship pathways, digrtal access, vdunleering, arwj mental heath resources. Nearty 780/0 expressed interest in environmental and climat&focused work. and over halfwanled to be better infonned about their workplace rights. Referr31$ conb'nued to come primarily Ihrough word of MOU￿57% of rw p8rtiryp8nl$ were referred by friends or colleaguès, and 35¢/0 came through other support ofganisatvJ)$. This peer-trusl model reinforces our credibility and rooledness in the communrty. Our impact was amplified thfough our online ￿at10M$. wth 3,077 Fa¢8book followers, 707 on Instagram, and seven active ￿atsApp groups keeping our community connected. As we look lo the future. we are bullying on a derade ol Irusled service. using Iwed ex[erien￿. Strategic vision, and partnerships to shape systemic thang¢. Our approach is grouThJsd in empowèment-nol dèpendèncy-and w& are oxpanding our income-generating activities, data ad¥ocacy, and 9eograK*)ic reach to ensure lasbng impact and a fairer Wales for all. Page 3 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 HEADLINES Our Reach 850+ people supported across Swansea & Camarthenshire 2,550+ $ervi¢es delivered meeb'ng eM￿1)Yment. wellbw"ng. housing. food. and bus1r￿S needs 429 hou$ehold¥ 11.068 individuals fed through the Swansea's only Mobile f(M)dbank 310 peopl• reported impioved mentsl, emtsb"tsnal, or so(ial wekneing 107 people supported in Camiarthenshiye since Launch 4,000+ online community reach across digital pLatlomis 6+ community spaces activated across Swansea & Camiarthenshi 70°A asylum seekers and rèfugès. 25% mlgrarts from olhér backgrounds. S% local resld•nts In n••d S4% men, 46% women Majority aged 1845 Communrties represented.. 30+ nationalitie8. rellethng gkjbal diversty in Waks 170+ refèrrals r•cèlved via bcal authorilies, Ihir§or partners, and word4Jl-moulh 86% needed employment support. 58% sought busness devebpment advicE, and 74% wuested wellbeitYJ $eNices. Increasing trend of croswounty refwra -En 187 peopl• moved intojobs, educa￿'On. or volJnteerir4J 87 famllles supported with housing inlerventions 187 individuals supported wilh CV wriling and job awications 27 individual¥ Supported wth busIne￿ advice - hel￿n9 them e￿0￿ 8elf4mr4oyment and navig818 Ihtr coM￿eXIt1es of starting a business in the UK This is a vrtal pattrway lor Ihose struggling 17 indivlduals supported Into volunto•rlng or wrth Volunteer search 9 8UPPOrted wlth drlvlng lesson guidanc•, breaking transpNt barriers to employment 67 accffisad hardshlp referral8 lemeryJenry SUPF¥)rtI C¢)mmunlty Ent•rprf8• Hub mil•ston• . thrmng centre for connecawjn in Swansea Carniarth•n8hlre èxpan81on embedding cultural. em￿OyMent & hou%'ng intervenlvjns Page 4 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE Our Community Ent8rpri5e Hub Opened in January 2025 following renovations from Juty to DeceM￿r 2024, our Community Enterprise Hub is a vibrant and ac￿SSIble space by and ft>i the cA)mmunrty. It serves as our centsal base and a tsne-stop shtsp ft)I support, inspiration, and opportunities. Operating five days a week, it offers drown services. wdlbeing aciNibes, Hotdesking and digrtal a￿Ss, and tailored referrals to internal and extem815erv1￿$. This Mutt￿￿Se space is designed to meet ev0￿1n9 community needs. provide dignty 3rKI support, and seNe as a plafform for empowerment and long-terni grtrNth. 11 symbdises our commilment to ￿d￿{ang structural barriers, fostering inclusion, and enabling people lo achieve th￿1 Welsh Dream." Our Dlstlnctlve Model The CAE'S greatest strength lies in our holistic, personABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 Who W8 Supported: Profile of Referrals The 170 new referr81s we received betsyeen September 2024 and June 2025 refied the diversty and COTnplexity of our service users. Just over half 154.1010) of referrals were men and 45.9% were women. A significant 680/0 ol those referred disdosed a long-temi Cond￿On, illness. or disabilty, undertining Ihe imwrtance ofaccessiLle, empathelic semces. Our reach spanned all age groups. wth the largest age cohort being 3￿9 years old 127Y¢l. followed by 18-24122.141. 25-29 1190/)1, and 4(H9 117010). Young people undei Ihe age of 17 made up of our referrals, while those ovei 50 8ccounled lor 7Qh. Ethnicalty, the majority ol our referraL8 identffied as Black {37Yol. wth equal representathm of Latin American and Asian communities119% each). Idlowed by ￿rte111￿10) and a fijrther 15°/• weferring not lo disckjse. The 8du(3tion levds ol our benefiaaries were wide-ranging. 28.5Vh had se(x)ndary schod as their high&st qualification. 19.2QA hekj undergraduate degrees, 11.6% had wstgraduate qualffi￿tions. and 12.80/0 had vocational training. Around 101. had no fomial educali'on. highlvJhting ihe barriers many face in accessing opportunrties. Whi￿ the remainder did not disdose their education stalus. In terms of immigr81ion slalus, 29.wh Of our referrals were on visas. 28.¥/fj were asylurn seekers, 22.80/0 had refugee st*us, 12.60/0 were UK atrLens, and 7.5QA held ￿ave lo remain. EM￿OYMent status also varied. 30Vo were students linduding those still in the asylum process), 28% wère unempw, 12% were emph)yed, 10% were volunteerin9, and 7% were economicalty inactive. When asked 8bou¢ their 8spir81ion$. 41% 01 ￿d￿idual$ expre$8e(I high wnfidenr* and optimism fly their futur?. which wo view as a powerful starting point for meaningful engagement. The vast majorty 186Vol needed support related to employment, including CV writing, trainin9, job coaching, and in-work supFx)rt. Notably, 580/0 sought support around business development, with 50°/ts at the p￿start stsge. A common barrier aled was a lack of familiarity wth UK systems 170°/ol and difficutty accessing finance138%). Alongsidg sconomic parti¢ipalion. holistic wellbeing wa$ a high wity". 74% wuèstèd support around ben&frt$, lif¥ skills. and social connection. A further 78Yo were inte￿$ted in dimale and environmental topics, and S8% expressed a desire to leam about their Work￿aCe rights. Referral pathways remained largety peer-led.. 57% carre through fn'erbds or ￿lleagueS. 35% via trusted partner organis81ions, and 8Vo through online di$￿very, parti¢ulaty Gotyje. This h￿hI¥￿hts Ihtr reputsts.on wg hav¥ buitt wrthin our communities as 8 Safe, effectivè. and reliablè Sour￿ of support. Needs Identlfied Among Beneficlarles A large proportion of individuals referred lo The CAE had Mult￿fa￿led needs requiring an integrated approach. 86°/D of benefi¢i8ries required empbymenl-relaled support. ¥￿h many Inte￿$ted in profes$ion81 dtrvelopmenl 147Qhl or actively seeking itsbs. education, or volunteering 1510/01. Others needed tailored surw1, surj) a$ CV wnting 127.5%). ac<*s$ lo training139¢/0l, job coaching120QAI, or guidan￿ while already in work117%1. In addition, 58Yo of partiapants expressed a need for business sUp￿rt. pafticularty at the earfy stage.. 50°/D were at pre-start level. and 380/0 identified access lo finance as a key barrier. A striking 70% ￿ported being unlarniliar wth UK systems and pr￿$$98, refiecting the challenges fa¢xl by many 8wwNeil mryr8nl$. Holistic wellbeing also emerged as a major area of need. 74% sought help with lrfe skills. accessing benefrts, and building community connections. Interest in dimale and environmenlal engagement was also h￿h, wth 78V4 wanting to explore this area fvrther. Furthermore. 58% were keen lo understand Ih•'r workplace rights, underscyying Ihe need for accessitAe, ernpowering education and supporL Page 6 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 SUPPORT PROVIDED Employmert Education & Enterprise The CAE'S core mission is to unlcK& potential by suppy)￿"nY people into empkjyment, training, and entrepreneurship. Btheen September 2024 and June 2025, we prowded stsuctured suppc¥t to 256 individuals through workshops, mentoring, one-t￿one coaching. and job matching. Our ServI￿S covered.. 187 individuals supported wrth CV wnts.ng and pb apFAi(3b"on$ 27 individuals supported with business adVI￿- helping them expk)re seifomployment and navigate the complexities of starting a business in the UK. This is a vital pathway for those struggling to access tradits'onal employment routes. 17 individuals supported into volunleerirvJ orwith vcAunteer search 9 sUPPOrted wth driving lesson guidan￿. breaking tran5POrt b8rw*rs to ernrAoymenl 67 ac￿Ssed hardship referrals lemergency supp(Mll We matched participants wrth ￿al oppoilunrties, from retail roles lo freekn￿ work, and helped them pursue both conventional and self*mployed paths. Through our partnèrship vAth Job ¢¢ntr& Plus, Swa)wa Univèrsity. lo¢al ¢harili&s, and l¢xal bu*n&ss&$, ws dèlivered group employability workshops and hosted recruitment events. We also provided support lo those in work who were faang instability. eXpl￿tatIOn, or underemployment. This slre8m also inckjdes our wc*k %wth 8spiriw¥J entrepreneuws. Of the particapants eng8giThJ in business support, over 60 accessed tailor￿ guidan(*. Haw of thèse were al Ihe pre-start sta9e. and tsthèrs wère navKJating trading status, branding, and finance. In May, we launthed the Small Bu8ine88 Voices podca8( a new storytelitYJ platform that amplifies the eXperien￿S of migrant enI￿p￿neurS and promotes indusive entrepre neurship in Wales. .1 didn't even know a F4ace11(e this exi8ted. Gl•J I left ￿rne- rw I night have ajci) interv1v￿." 'Bfjfo￿ I didnl know lo wrile a CV orwh81 to say atthrt my woth. I hav& ¥ dcty)Jmgnl that Sho￿ who I am and what I can do. Thank you for believing in me." 'The support I got at The CAE helFed me Und￿Stand to talk about my exFerierKe. This was not just help with p8p&r- il gave m& hope." Case Stud Neblyu Daniel Mengistu Nebiyu, an asylum seeker from Ethiopia. came to The CAE tmth no UK work experien￿. no CV, and minimal IT skills. Through dedicated 1-1Cr1 coaching, he gained a professicffjal CV, leamed how to navigate job boards, and applied for retail and hospitslity jobs. He has since secured hi5 first intwview and reported a significant boost in confiden¢e. "Now I have a CV that Shows wl%)18m and what I c8n do. Thank you for believing in m&." Case Stu Blanca Slbrian- Rebuilding Confidence Through CV Support Blanca was stuck wrth an inaccurate CV and no inlerview callbad(s. Through 1..1 support, her CV was cOM￿etelY rewritten lo refiect her true experien￿. Wthin weeks. she received five inlerview invites and reported renewed confidence in her job search. 'Thè now CV madè a h￿)6 drfference. I fed IKyful the first ts.me in 8 k*)g b"me." Case Stu Lilian Kujabi - Leaming to Navigate the UK Job Market As a Gambian asWum seeker, Lilian had never wrthen a CV befo￿. After attendirrfJ our workshop, she gained skills and confiden￿. 'Now I f8*1 ready to aPFAy fotJA)s. Thè ex￿rie[￿ was pèrsonalis*l and Irf￿anging." Page 7 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 Case Stu Paulina - Launching a Latin American Food Truck Paulina received t8ilored business SUPPOrt. indudirvJ 8 I￿sinesS piqn. grant guidan￿, and Io¢KI safety training. She now serves Latin Ameri(2n (xjisine at events across camiarlhenshl￿. 'It's a dream come true. I couldnl have done it will￿t CAE." Thgrnes of outcome8 achieved: Increased 5eW-e5teern and empbyment confrlence Enhanced ski115 for em￿Oyabl1ty and erhtrepreneu￿hIp Improved understanding of the LIK job mathet Reduced isolation through group leaming and vdunteering pathways A major highlight has been the oroun(h¥ork fc¥ the CAE Trnlnlng Academy. %thich is part ol our Phase 3 development. The Acaderny will offer 8ccredrted training. ho8prt￿ty t￿9￿ments. and hands-on experien￿ through 8 futur8 community restaurant and commeraal krt¢hen. We ￿n$uhe￿ wrth Iwer 120 individuals to Shape this model and seojred eady interest from employers. Our work empowers individuals lo take oyrtrcl oftheir careerp)umeys. V•thile o)ntribub'ng lo Wales. economic growth. Camiarthen8hire Expansion From launching SUPPOrt in Llanèlli to èmbè(Iding cuttural. èmpkjyment, and housing int•Nentions, The CAE'$ Carmarthenshire work has delive￿ tangl￿e impact while layitYJ strong foundations for future grchyth. This stream ol activity has enabled econom￿ ernpowerment. reduced isolation. promoted dignty and rights. and fostered cross-county coILgboralion. In ils first phase, our project reacJ)8d and supwrted 107 people, sÈaJring 10 lull-time jobs for partiupants and supportlng four businesses I￿0 successfully launthed and two in aclive developmentl. Six partiapanls were referred lo training, athieving Level 3 or higher ￿rtificat￿n$. while 27 Indiv￿uals were provided with SIM cards and digital inclusion support. Housing support was offered to seven families tso'ng wgent needs. ensuring stabilty and dignty in their living situations. Hc4i81ic wellbein9 InteN$nt1￿$ w¢r¢ a ¢ore ￿ of d￿l￿ry, wlh fwr wèllb•ng walks and $tr¥$$ m8nagem¥nl Support benefitting 32 peo￿e. Communrty engagement was also central. with 12 salsa sessions. football matches, and four local markets supported. In addition, the project operated across more than six venues in Llanemi, caM￿rthen, and Cross Hands. ensuring accessibility and visibility across Ihe county. Tackllng Pov•ity and Hard8hlp We continued to support individuals an¢J families faang hardship through food distribution work and hardship fund. Thè Swansea Mobile Pantry, the only mobile foodbank in the a￿a, provided fresh and curturally appropriate food to 429 households, equating to 1,￿ individuals vtho would have othe￿iSe slnJgg￿d to access suffiaent food. Our approach not only alleviates immediate food insecurity but also creales pathways to Improve(I wellbeing and Social connection. We delNered an average 01 $4 househc4ds and 181 people per monlh, and COT)SiStenlly engaged 8 growng team of dedicated volunteers induding several benefic4aries who have progressed Into volunteering as part ol their personal development joumey. Volunteers have gained work experien￿. social connections. and enhancEd o)nfidence th volunteering often serving as a first step into wider communty partiapation or pathways lo employment. We coM￿eMented this with our Hardshlp Fund, suppoib'ng 30 people vthh travel, dothing, toiktries, and emergency essentials. Our wraparound approach meant benef￿r*S also recewed W￿l￿1ng support, digital ac￿$S, And links to education or employment pathways. We rnaintained strong referral relationships with loca charilies. sthods. and Ihe council lo reach those in crisi5. ensuring no one was left behind. We are currenty expk)n"ng new ways to make this work sustainable, induding linkn.ng the food work Mnth our planned restaurant and urt)an griy￿n9 propcts. Page 8 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 Stories ofchange Zoheb Khan Zoheb, isolated by severe mental heamh struggles, was unaL4e to ￿8Ve his home or engage in activthes without exa￿rbatlng his Condrft￿n. Our disueet home fc¥)d delivery ensured Zoheb coukj access nutritious meals vthi safeguarding his mental wellbeing- giving him vrtal stability during a pencNJ when he had gone days without food. .1 appreciate the support, espeoalty withcmth needing to partiopate in anything that makes my mental health woise.. Ner n Alda r Sierra Cruz Arriving in Swansea after fleeing violence. Netyn faced profound loneliness. Vdunteering vith the foodbank became a gateway to friendship. purpose. and belongiThJ. His story rellects the power of communty action to heal the social fractures of displa￿ment. 'Volunteering h85 th8nge(l everythir¥J for me. I feel usefid, I have met wonderful pei)pl&, and l finally feel like part ofthe community. h ntelle R nold A UK-bom mother of three. Ch8ntelle faced a finanrial crisis th81 her strwJgling to feed her famity. Focxybank support provided Imrnedi8te relief. e88ing her stres5 and ensuring her thilyren had meals on the tstle while She regained her footing. 'Getting fcx)d support realy took the weight off. It m8*rt my kids haj meals aThJ I COLld breathe a bit.. Ank Oaniel. untsrniliar with focKI bank Serv￿¢$, cwl during a UnNets81 Credit $and￿rt that left hirn with no inwrne. Swkn support - induding muttiple emergency par¢¢l$ - hdped him $urvi¥e a suddèn finan¢4al gap, Whi￿ guidan¢> empowerèd him lo accass help more confidently in future. 'Thank you for taking the time to help US•we d￿nI knuw vthe￿ else to tum." A Ukrainian r¥fug89 $lru991ing with ￿nt and bils. Larysa rdwl on CAE'S foodbank for ¢swntial nourishm&nl. 'Thanks to the foodbank, I could feed my family and use my savings to keep the lights on." Fleeing El Salvador, Roxana laced attefflpted deportation al￿ deep in8tsb'lity. The monthly lood parcel8 offered her family r&li$f and hope. 'Becausg of your holp, wfj w me41 our tra$￿ needs. May the Lord rtrard you.. "Receiving the food delivery has Ixen a huge relEI for rTE. h's one less thing lo worry about during such a challenging tim&. l appreciate the $upwJrt. e$peryalty wrthout needing lo parti¢4p81¥ in anything that make$ my men181 health worsg.. 'Wthout this support, I would have had to thoose betr￿n eatiThJ and paying my bills. IVS notjust about food- ifs about feeling seen and r￿1 forgotten." rhe food parcels have helped m8 keep my head atxjve water. Knwn9 Ihwe's help availaNe when things gel tough gives me pea￿ of mind I dvjn't have beftre." .1 was embarrassed lo ask for he¥). but the kindness and resF*d I was shrh¥n made all the drfferen￿. It fett like a community loo￿.D9 after its rrwn." 'Thanks to volunteering he￿, I've fouThJ purpose. I'm Q￿Ing bac*, leaming new skills, and rfs been a boost to my confidence.. 'Having culturally appropriate food oplKwis made me feel resFeCt&Y. Ws not just a parcel. rfs care and n&deiation lor our dignty." 'Vthen everything else in lrfe feels u￿ertaIn, this $4Jpport gave me one thiThJ I COLld rely on. IVS made a huge drfferen￿ to my ￿Ental heaKh." Page 9 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 Climat8 Justiee and SuStaina￿lIty Through our Empowered Volces for Cllmate Justice inthatThie, we continued lo pOsit￿n marginalised communities at the heart of the dimate conversation. Our f￿$ was on building *4afeness. impioving ac￿$$ tts green opportunities, and advocating lor indusive poliaes. We directty engaged 140 Indiv￿￿al$ across workshops and events. wilh 70 volunteers stepping into climate-related roles. Feedback Showed increased knO￿e{Ige 8rLd con[KI￿cE parb"rypants. th many going on to pursue 8¢*'vi5m, volunteering. or environment81 education. Case Stud Bri ht Ukonu- En ineeri Chan A Swansea Universrty masterfs student in Aerospace Eng¥ne￿ing. Bright ioined CAE'S Climate Justice project to build skills and comrnunty connections. 'VolunleerirvJ has hdpeil me professionJty and FeTh*on81ty." imonial.. Heman Godo - From Awareness lo Advc 'Being part of the climate justice group has inspired me to be a posth force in my c￿mMunIty. I now understsnd the deep link be￿een dimate and inequalty." Hollstic Wellbeing Recognising that confidence, stabilty, an¢J mental heatth are key to long-lem suttess, we embedded lighl-touch mental heatth and wellbeing activities into ￿r core offer. Our wellbeing sessions attracted consistent attendance and created safe spa￿S for expressvjn. connection, and Joy. Footb811". 9 session$, 130 partiopanl$ $in(% February Ifortnighttyi Salsa Dan¢s'. 8 Se￿￿)n5 in Uaneli1109 parti¢ipant$ $w)¢& Febwary), and 3 sessions in Swansea I￿ parti¢lpanls since June) Bike Rides.. 15 particjpants engaged sir￿￿ May These 8ctivilie$ help8ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 Advoeaey and Influeneing We deepened our advocacy work Ihis year, moving beyond Servi￿ delivery to systemic change. Our Endlng Workplace Exploitstion project advocated for better empbyment protections lor migrants and raised awareness of discriminalion and labour abuse. Key ach￿vementS indude.. Delivering EDI trainin9 to 61 profesS￿n01$ across 4 sessiorhs Vll of suNeyed empkjyers were interested in impioving indusion polioes. Supporting 15 participants to share stories and advocate for themsefves. through our INed experience advisory panel Advoc8bng for over 30 partirypants who we goiThJ through or have g￿e through workplace tha1￿nge5 Launching 8 rights awarenes5 campavJn for migrants in preC￿l￿S jobs This stream also infomied our internal strategy. We now embed advocaq into all our workstreams and have started using case data to infomi public messages and influetKe poliry. we'￿ also expbn'ng ￿1ve action opportunities wrth other frontline org8nis8b'ons. Intemal Staff Developmènt and Capacity Building Alongsid8 èxternal délivery, The CAE priontis8(I strengthening its Intèmal capaaty to ènsure thè organisation rèmains sustainable, effective, and ￿sponS￿e to community needs. Over the year, staff and volunteers took part in a range of development opportunrties de￿gned lo improve ￿)nfidenCe. strengthen delNery. and build lon￿te￿ experty'se. Training covered CO￿ areas suth 8$ ¥olunl8er managemtrnl, ¢ommuni¢atKm$, and Collaborative projecl delivery, ensuring teams could work togèther seamlessly and prèsent Th& CAE'S work effèdivety to partners and fvndèrs. Spècialist sèssions on CV wrbting, job interviews, and enterprise eduCat￿n lurther enhanced the team's ability to support beneficiaries in practical. employment-focused ways. In addilion. financial management and pensmms advice sessions helped staff improve both personal and organisalional resiler￿, Whi￿ lrninir4J on emp&)yrnent rights reinfO￿d The CAE'S cornmitrnent lo adv¢x8Cy end yoteeting dKJnty in the wcrtkpLYe. By investing in its people, The CAE not On￿ improved seNice delivery but also modelled the culture of empowemient, progression, and lifek)ng leaming it seeks lo instill in the communities rt seThes. FINANCIAL REVIEW FlnancSal p081tlon Thè trustees wère delighted to recei￿ grants in Ihis period 101 S•pt8mb8( 2024 to 31 August 20251 whi¢h rèsulted in incomin9 resources of £641,640. Total resources expended for the peri￿￿ were £430.011. At thè yèar-ènd, 11)è Charrtls tolal r￿r¥eS wère £657,245". £51,SS4 unrestn.cted funds and £60S,691 dèsyn8tèd assat fund. Page11 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 FINANCIAL REVIEW Fundlng Streams Funders AB charitab￿ Trust Gaffjekj Weslon FouThJation Lloyds Bank Foundation Unrestri(*ed Capitsl Swansea COU￿￿1 Employability, Entrepreneurship, Education, Volunteering SWRE Chaiitsble Trust SPF Cannarlhenshire SPF Swanse8. P8lhways lo Work The N8ty"onal Lottery Crynmunrty Fund Wales Swansea Univefsrty Holistic Support Swansea Ccyjncil Tackling Poverty- Hardship F(hxlbank Swansea Council Welsh Govemmenl The Nathonal Lottèry Cmimunity Fun(1 Wales Clirnate Justice and Sustainability The Nalion81 Lottery Communty Fund Wales Joseph Rowntree Foundalirjn The Real Faming Tru$1 A￿ocacY and Influenang Pp4Jl Hamtyn Foundat*)n InV￿lM￿nt poll¢y •nd obS¢¢tlv The Iruslees are ¢uTrnlty exploring the idea of invesbng ￿serveS as an trffe¢tNe way lo generate incomtr, and the Centre lor Afrun Entrepreneurship wil aim lo follow a proper p￿$$ and seoJre the htrlp of experts in order lo develop a strategy that coukl generate good returns for our organisal¥)n R•s*rv•s poli¢y The Iru51ee5 have reviewed the reseryes of the Charity. Their pc4i¢y is lo hold enough fvnds lo meet four months, operating costs of the Charity. which wwld btr around £60.cKxI. The Trustees will continue lo evaluate the ¢h8rity'$ reserve requirements in view ol its current and future aspirations. At the present time, rt is not possible for the Trustees to eSta￿lsh a longer temi reseNes policy as the charity relies mosty on restrKled funding for speofic projects. For the time being. therefore, the trustees a￿ simpty adoptirrtJ a policy ol keeping suffiaent funds in hand to meel known CAimmitrnents and the year-end unrestricted reserves of £51.554 is deemed sufficaent. The Charity wll continue to app￿ 9rants, hopin9 to obtain grants with more flexibility to build its reseNes. Onca renovations are complete, the Charity plans to start generabng income from their building by renting spa￿S for meetings, holdiro activits'es etc. Going eonc•m Thè chairty's forecASts and pr(4octions, lakn.ng ac￿￿nt of ￿asonaLlY pow1￿& thang•s in trading perfomi8nc8, show th* the charity shoukl be al￿e to operate bwthin the levd of rts (xjffent fa(ilth"es. After making enquiries, the trustees have a reasonable expeCtat￿n that the charity has adequate resources to continue in operabonal existence for the foreseeable future. At thè yèar4nd, the thatty holds insuffiaent CAsh funds to sètde all liabl￿"ÈS. Howèvèi, gtant incomè r6cèNèd shordy 8ft*r the year*nd rèimbutsed spend during the yeai and improves Ihe tharrty's tssh funds. Therefore the d)arrty continues to adopt the going concem basis in preparing its finanaal sla(ements. Page12 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 FUTURE PLANS The CAE enters the next phase of its development from a positKJn of grrhyth and ambitKJn. Wth our Communty Enterprise Hub now fulty est8blished as a recognised centre for entrepreneurship. empk)yabilty. wellbeing and community sUPPOrt. our focus is shifting towards devekjping sustaIna￿e social enterprises, strengthening communty assets, and (*eating long-tem opportunrties for the people and communities we seNe. Over the next three years, our strategic priorities are: 1. Launching The CAE Hospitality Academy FollovAng the sutxessful refurbishment ol our Hub, we open The CAE Hospitality Academy. The Academy will provide accredited training, apprenticeships and work experien￿ for refugees, migrants and local people seeking careers in hospitalrty. Operating alonggde our training restsuranl and café. it will c¥eate pattrways into empbyment while generating unrestricted inwme to 5UPPOrt our chartsble work. 2. Developing a Sustainable Food System and Biodome Project Working with the Gower Heritage Centre and academic partners, we wll develop an intKJvatNe Biodome and sustainable food production project in Gower. The project will combine Control￿environMent agriculture, renewable energy and circuiqr economy principles to grow cutturalty appropriate frurt and vegetables currently imported into W8les. We also 8im lo explore renewable technobgies. incjuding solar-powere(I grwng system5 and kn"odvJesters using food and green wa31e, creating green jobs, SUPPK)rtsng f￿d secunty and slrenglhèning kKxI suppty thain$. 3. Communlty-Led Houslng Devdopment Responding to the growing housing crisis, we are developing a communty4ed housing programme in partnership wth Wellspring Homes. Our ambityjn is to establish a housing associalion ¢h8t delivers affordable. ecTrfriendty homes buitt using su$18inable material$ such as hwnpcrele. This inrtialNe will pfovide seojrtr hou*ng for disadvantaged communrti8$ while dgmonslroting Innovat￿, lo*-¢arbon ¥pproa¢h¢s lo housing dweb)pmenl. 4. Exponding Advo¢•¢y and Sy$tom$ c￿ft We will continue to St￿ngthen our poliry and influenang work across Wales and the UK, championing fair employment. indusive entrepreneurship. migrant rights. ¢lim8le iuslts and economic indusion. Building on our growing reputation, we 11 work ¢losety with govemmenls. k)¢al aulhorrties, Univers￿e5 and natsonal neiwtsiks lo ensur& the vol￿5 of underrepresented communities Sha￿ future pdicy and wactic*. 5. Bullding Flnon¢lo1 Su$tsln4bility Our long-temi objedwe is to increase finanrial re5ilEnc2 through diveryfied income 3tre8m8. AlongSKle grant funding and commissioned services, our hosmalty academy. restaurant. ￿nsuM4nGy. enterprise support and lulure food production actimties will generate Sustainab￿ incoma Ihat can t* reinvested into our charrtat4è mission, rgduang rdianea on grant funding over time. 6. Improvlng H•alth. Wèllb•lng and Community Connèetfvlty will continue expanding our wellbeing programmes. Induding fr>olball. guided walks. active travd and community IrAnsport. These Initl8tlV8s will improve phy&eal and m8nl81 health. re(lurA sooal isol*"on and On$U￿ that child￿n, young people and families can access opportunrties regard￿sS of transport or finanaal barriers. Through these pnonties, The CAE aims lo beco￿ one of Wales. leadiThJ o)mmunty anthor organisations•creating opportunrties. influenryng syslerns. building sustainable enlerwises arbd demonstrating how indusive economic development can transloirn lives. strengthgn o)mtnunrties and contribute lo a mote prosperou$, oquitable and environmentally sust8inable Walès. Page13 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Gov8rning document The Centre for African Entrepreneurship is constituted as a th8rrl8b￿ Inwrpor*ed Organisation CIO registered with the Charity Commission in SepteM￿r 2015 under thatty nUM￿r 1163348. It is govemed by a constrtution Last updated in July 2016. R￿ruItMent and appointment of new trust The exi51ing trustees are responsib￿ for the recrurtmenl of new Injstees but in so doing the trustees seek the view5 8nd rewrnrnendations of the CEO and serVI￿U$ers. The Irustees bdieve this approach ensures that new Iruslees ale respeded members ol the local communrt*s and ensures that gcx)d relalw)ns are fostered belween the charity and the people of the local community that we serve. In selecting new trustees. we Seek to identrfy pe￿e who reguigty attend events and 8c*wtie8 organised by the th8rity and are willing to vdunleer lo help in our broader communty work. Potential Irustees will be Invited lo attend trustees, meetings as observers and are given more details of the d)anty's aims and a￿"¥￿"eS and. rf all agree, they are then proposed as new trustees at the subsequent trustees. meeling. This process albws due consideration of the person's eligibility, personal competence. specbalist kn￿￿edge and skn'lls. Organlsatlonal stNetur• Thè chanty trustees arè rèsp￿$1￿ lor lh& general control managemenl of the th8rity. The trusl$es give their timg fwty and r$¢giv& no ￿mUn￿ratIOn or oth8r finanoal benefits. The tru51ees meet as a body every h¥0 months and are responsib￿ lor all decisions taken in relation lo management of the organi5alion's resources and the activrties provided by Ihe tharity. To 8SSiSt in the smooth running of the charity the trustee h8ve appointed a CEO that help them oversee all aspe(#s of thtr tharity's work. The day-to-day management ofthe Charity and ￿￿jeCts are ddegated to ihe CEO. The current chairperson is Rebecca Nyasha Mamhende. Our Cur￿n1 Ch￿f Exg¢utw Offic4r Fpnth Banza, 1$ the FourhY¢r of The CAE s¥ho 1$ a Swal Ent￿pr$nOUr and h¥$ Strong management experien￿ in business. He possesses strong interpersonal skills and is ab￿ to drawing out a person's needs through open-ended questions. He also has the abilty to recognrLe peo￿e'S strengths and weaknesses. This experience, along with a varied background, supports Ihe CAE'S goals. Mr Banza is responSi￿e for making a range of vital decisions within the organisalion. His rn8in role Is to act as a liai%)n t)ebveen Ihe board of trustees and the re51 of the org8nisation, and meets with the board of Injslees once 8 week lo keep them informed on operational issues and work with Ihtrm lo corn¥ up wth strategic solutvjns to complex chalenges. He oversees the heads ol eath area in lh& organisation, indudin9 marketing, fundraising, project development. HR management and accountiThJ. Induetlon and tralnlng of nèw tru8t••8 Following appointment. new tnjstees wll te introduced lo their rw role and given cop￿$ of the constrtulion and a guide lo the policies and procedures adopted by our d)arty. A number ol publi(2bons from the Charity Commission are also provided. This ensures that new trustees are aware of the SCO￿ of their responsibilrties under the Chartties Act. A number of training lor trustees are available through Ihe l¢xal CVS. and new Injstees are asked (o take part in these important training. Inilialty, new trustees will work with an existing trustee as&stsng on particular aclNities and projects run by the charity. Trustees are also reqve51ed to have 8 pthnance review ffi￿ting with tr* Chair every year lo make sure they understand their rol6s and respon&bilty. Risk management The trustees have a duty to identfy and review the risks to whKth ihe charity is exposed and lo ensure appropriate controls are in Pla￿ to provide reasonable assuran￿ against fraud and error. Thè tfLJStees have assessed the risks the thatty faces and have dr&vn up a risk malwix whth idèntffiès m8j(x risks by area of activity, the naturè of those nsks, th6 likeliho(¥J of Ihè risks hap￿nIng and the mèasuies taken to manage them. The trustees review this risk matrix regularfy al their meetings and they are sats'sfied that systems are in pla￿, or arr8ngernents are in hand. to manage Ihe risks that have been identffi&J. In particular. insurance cover is in pla￿ 8nd the nances oflhe Charity are kept Ur￿er revw. Page 14 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 REFERENCE AND ADMINISTRAThIE D￿AlLs Registered Charity number 1163348 Principal address 28 Oxford Street Swansea SA13AN Trusto*s A l Afi Iiesi9ned 25.02.20251 R MaTnhende A Foroozan D Ouedraogo lappointed 24.02.2025} E Hemiinawali (appointed 11.02.20261 Independent Examiner Michael Jones ACCA Bevan Buckland Ltd Ground Floor Cardigan House Castle Court Swansea Enlerpnse Park Sw8nsÈa SA7 9LA 8130r2026 Approved by order of the board of trustees on............................................. and signed on its behaw by.. SbMJby.' IF?E4T98231E4FC R Mamhende. Trustee Page 15 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CENTRE FORAFRICAN ENTREPRENEURSHIP Independent examinerfs report to the trustees ofThe Centre forAfrican Entrepreneurship I report to the charity trustees on my examination of the acctyjnts of The Centre for African Entrepreneurship (the Trust) for the year ended 31 August 2025. R•sponsibilitiès and basis of rèport As the chaity tru5tee5 01 the Trust you ate re5PWSitAg fr)r Ihe pteparation of 8cix)unts in 8¢(x)Idance with the requirements of the Charities Ad 2011 (Ihe Acri. I report in respect of my examination of the Trusl's accounts carried out under Sethon 145 of the Act and in caryitYJ out my examination I have followed all applicable Direct￿$ given by Chty Commission under Section 14515llbl of the Act. Independent examlnerfs statement Since your d)airty's gross Income excte(le(1 £250,(KK) your Èxaminef must bè a memt*r of 8 listed body. l (sn eonfim that I am qUalif￿d to undertake the examination because l am a member of the Associatie￿ of Chartered Certffied Accountants. which is one of the listed bodies. I have com￿eted rny examination. l ry)nfirm Ihat no material mattw3 have crjrne to my attention in connedion with the examination giving me eAUSè to bèliève that in any material respèrt" accounting records were not kepl in resk*d ofthe Trust as wuired by sed•￿ 130 ofthe Act,. or the accounts do not accord with those records.. or the accounts do not cOm￿Y with the appliCa￿e requirements C4jn￿ming the fomi and content of accounts set out in the Charities (Accounts and Reportsl Regulabons other than any Wu1￿ment thal the accounts give a true and f8ir view which is not a rn8tter ￿nsIdered as Part 018n ir*YeFendenl examinab"on. I hava no concerns and have come across no other mattws in Cc¥)ned￿n the examination to vthi¢h attention Should be drawn in this report in order lo enable a proFer understanding of the accounts to be ￿aChed. Michael Jones ACCA Thfj Assooation of Charter8d Certifkqd Accwntsnts Bevan Buckland Ltd Ground Floor CardvJan House Castle Court Sw8nsea Enterpnse Park Sw8n$e8 SA7 9LA 30th June 2026 Page 16 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENOED 31 AUGUST 2025 2025 Total funds 2024 Total lunds Unrestricted lunds Restricted lunds Notes INCOME AND ENDOVIMENTS FROM Donations and legaaes 50,050 591, 641,640 684,868 EXPENDITURE ON Raising funds 3.954 3,441 Charitable a¢ti¥ities Project Activities 49.425 376.632 426.057 475.090 Total 53,379 376,632 430,011 478,531 NET INCOMEIIEXPENDITUREI Tran8lèrs b•tsYo•n lunds 13,3291 214,958 214,958 1214,9581 211,629 2(￿,337 15 Net movement in fund8 211.629 211,629 2C6,337 RECONCIUATION OF FUNDS Total funds brought fO￿ard 445.616 445,616 239,279 TOTAL FUNDS CARRIED FORWARD 657.245 657.245 445,616 The notes fomi part ofthese fina￿la1 statements Page17 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP 8ALANCE SHEET 31 AUGUST 2025 2025 Total funds 2024 Total funds Unrestricted lunds Restricted lunds Notes FIXED ASSETS Tangible assets 698.324 698,324 456,466 CURRENT ASSETS Debtors Cash at bank and in hand 5.288 5.288 45,603 5.288 89,277 50.891 50.891 94,565 CREDITORS Amounts falling due within one year 10 146,1261 146,1261 171,6g91 NET CURRENT ASSETS 4.765 4,765 22.866 TOTAL ASSETS LESS CURRENT UABIUTIES 703.089 703.089 479,332 CREDITORS Amounts falling dl￿ after more than one year 145.8441 145.8441 133,7181 NET ASSETS 657.245 657.245 445,616 FLINDS Unrestricted funds 15 657.245 445.616 TOTAL FUNDS 657.245 445,e18 613012026 The finanrial statements were apwoved by the Board of Twstees and athhorised for issue on and were signed on its behaN by.. R Mamh8nde- Trustee The notes fomi part ofthese fina￿la1 statements Page18 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025 2￿25 2024 Notes Cash flows from operating activities Cash generated from operat'ons Interest element of hire purchase payments paid 189.622 298,856 13.954} 13,4411 Nel ¢a$h provKled by ¢)peratsng a(*"vrties 185.668 295,415 Cash flows from investing acti¥ltl8S Purchase of tangible fixed assets 1264.029) 1211.7321 Net cash used in investing adivrties 1264,029) 1211.7321 Cash fl¢)vts from flnanelng aetlvltlos Repayable Finawial Assi5tsnce rebased Capital repayments in year 134.4091 18,4841 34,687 Net cash provmled byllused inl financing aclwtt 34,687 142,8931 Change In ca8h and ca8h equlvalents Sn the reporting ￿riod Cash and ¢0¥h equlvalents at the beginning of the Trporting pgri¢d (43.674) 40,790 89,277 48,487 Ca8h and ea8h •qulvalent8 at the ènd of the reportlng period 45,603 89,277 The notes fomi part ofthese finatKial staiements Page19 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025 RECONCIUATION OF NET INCOME TO NET CASH FLOW FR￿1 OPERAnNG ACnVITIES 2025 2024 Net income for the reporting period las per the Statement of Financial Activities) Adjustments for: Deprecialion charges Loss on disposal of fixed assets Interest element of hire purchase 8nd finance lea%e ren￿ p8yments Deuease in debtors IDecTeaselfincrease in ueditors 211.629 206.337 19,452 12,034 914 3.441 29,660 46,470 3,954 145,4131 Nèt eash provldod by opèratlons 189.622 298,856 ANALYSIS OF CHANGES IN NET FUNDSIIDEBfi At 1.9.24 Cash flow At 31,8.25 Net cash Cash at bank and in hand 89.277 143,6741 45,603 89.277 143.6741 45,603 Debt Finance leases Debts falling due wthin 1 year Debts falling due after 1 year 131.3731 12.7181 110.8731 134.6871 16e.0601 12,7181 18,1541 2,719 144,9641 131.9681 (76,9321 Total 44.313 175.6421 131.3291 The notes fomi part ofthese finatKial staiements Page 20 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2025 ACCOUNTING POLICIES Basls of preparlng ffinanclal ststements The finanual staternents tsf the d)arty, whith is a putlic benefit enlty under FRS 102, have been prepared in accordance with the Chath'es SORP {FRS 1021 'Accounting and Reporting by Chanties". Statement of Recornmended Practice applicable to tharilies preparing Ihw'r aco)unts in accordance wrth the Financial Reporting Standard applicable in the UK and Reput4ic of Ireland IFRS 1021 {ellective 1 January 20191., Financial Reporting Standard 102 The Financial Reporting Standard aptAKable in the UK 8rKI Republic of Ireland, and the Char￿e8 A 2011. The financial statements have been prepared under Ihe historKal (x)st (x)nvenb"on. Inc¢yn? All income is recognised in the Statemenl of Finanual A(aNit￿$ once the chanty has entitlement to the fijnds, rt is probable th81 the income will be received and the amwnt can be measured rdiably. Unrestrided grants are rerx)gnised as incomè %then Ihe above (xiteria are mèt. Restrided grants are reeognised when the charrty is enl'tled to the incC￿e and any perfomiance- related condrtions have been mel. Multi-year grants are recognised in full when enlrtlement exists for the entire grant and no perfomiance condilK)ns remain. Wnere entitlement is conditional on perfomiance. incryne is recrynised as the condrtK)n5 are met. Capitsl grants for the purchase or con3trudk)n of ffixe(l a58et5 are re￿nised %then enbden*nt exist5 and any wnditK)ns attached lo the grant are mel. Expendlture Liabilities are recognised as expendrture as soon as there is a legal or cY•nstructwe O￿lgatiOn comrnrtts'ng the charrty to that expenditure. it is probatAe that 8 transfer of economic beneffts will be required in 5etdemenl and the amount of the obligation can be measured rel*tAy. Expenditu￿ 1$ a¢u)unled lor on an awuals basi$ and has been classifiéd undèr haadings that aggw*è all ¢osl relaled to category. ￿erè Costs cannot be dirèctly attnbuled lo particular headings they have been allocaled to activit*s on a basis consistent v*th the use of resources. Tanglbl• fIX￿ 0$8ets Depr￿ation 18 prtsvided 81 the loltrM'ng annuJ rates in order lo write off ead) asset over ils estimated useftjl lifts. Fixtures and frttings Motor vehides Computer equipmenl Slraighl line over 4 yèars 150k reducing baLance Slraighl line over 4 years Property improvements are Still under c4y)slrudh)n and ￿11 be depreaat8<1 overt their usefvl life lollowir@ o)rnpletion. Taxatlon The charrty is exempt from tax on its (harrtab￿ a￿￿t￿. Fund aecountlng UniÈstnctèd fur)d$ Can be usgd in acctydance ￿￿th the ch8rrtat4è obJ"adwgs ¥1 thg disuetion ofthè trustees. Restricted funds can only be used for particuLar restricted purposes within the objects ol the Business type. Restrictions arise when specffied by the donor or when fvnds are raised for partiojlar restricted purposes. Furthér expl8n8ts.on of the naturè and Kmjrpose of èach ftjnd 1$ irKJuded in Ihtr notes lo Ihe fin8no81 stalemenls. Pension costs and other postrfelirement benef The charrty operates a defined contribution pension scheme. Conlritrwjtions payable to the charity's pension scheme are charged to the StaterrEnl of Financlal ACtr¥it￿ in Ihe peric4Y lo which they relate. Debtors Trade and other debtors are recognised at the setllement anwjunt due after any trade discount offered. Prepayments are valued at the amount prepaid net ol any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand indudes cash aThJ short tenn highly IiquKI investments wth a short maturity of three months or less frcm the date of acquisibcm ¢x open*)g ofthe depc6it or smikr account. Page 21 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES- continued Credltors an(1 provlslons Creditors and provisitsns are recrxJnised the (thaiity has a present o1￿1g8110n resutting from a past event that will probably resutt in Ihe transfer of funds to a third party and the amount due to settle the obligation can be meaSU￿d or estimated reliably. Creditors and provisions are nomially recognised at their se￿ement amount after allowing for any trade discounts due. Employee bener The Charity provides a range of beneffts to empkjyees. induding annual bonus arrangements, paid holiday arrangements and defined tenefft and defined conlribLrtion pen￿on plans. Short tèm bènèfflts Short term benefrts, induding holiday pay and other similar non-monetary beneffts. 8re recognised as an expense in the period in which the service 1$ rec£ived. Financial Instruments The charity has elected to ap￿Y the provisions of SeclTh 11 'B8gc Financial Inslwments, and Section 12 '0ther Financial Instruments 1&8ues' of FRS 102 to 811 of its ffinancaal ￿$truMent& Financial instrum8nt$ are reABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POUCIES- continued Classification of financial liabilities Finanaal liabilrties and equty inslruments a￿ dassifigj according to the substance of the contraclual arrangements entered into. Basle financlal Ilabllltles Basic fin8n¢NqI liabil￿es, induding ¢yeilrtrys and b8nk loans are lnrt￿ty rewgn15ed 81 trans8thon pri￿ unless the arrangement constrtutes a finanang transathon, %there Ihe debt instrument is measured at the present value of the future payments discounted at a rna￿et rale ol interest. Finanaal liabilities dassified as payable within one year are not amortised. Debt instruments are 8ubsequenlty carried at arn￿bSed cost. using the effethve interest rale method. Trade creditors are obligations to pay for goods or services Ihat have been acquired in the ordinary course of business from suppliers. Amounts payab￿ are da$Srf￿ as cJJThent liabilrties if payment is due wrthin one year or less. If not. they are presented as non-wrrenl 118bil￿"e5. Trade creditors are recognised Initi￿lY al Iransacb'on price and subsequently me83ured 818mortised cost uwng the effec*"ve interest method. Other financial liabilitie8 Derivatives. induding inleresl rate swaps ￿ fO￿ard forewJn exthange contracts, are nol bas￿ financial instrumen15. DerNatives are inrti81ty recognised at tsir value on the dale a derivative contract is entered into and are subsequenuy re-measured at their fair value. Changes in the tsir value ol derivats'ves are recognised in profil or loss in finan¢e ￿$1$ or finance In¢wie as aprKopriale, unless hedge acc*xJnb"ng 1$ ap￿ie￿ and the hed9e is 8 cash flow hodge. Debt instruments that do not meel the oJnditKJns in FRS 102 paragraph 11.9 are subsequentty measured al fair value through profit or loss. Debt inslwments may be designated as being measu￿d at lair value though profil or loss lo eliminate or redu¢& an accounting mismal¢h or il the Instruments arts measured and their perftsrmance evaluated on a fair value baw$ in aC￿rdar￿e wrth a (Jocumenled risk management or invtrslmenl $lralegy. Dtrr¢cogn511on of fin¥n¢lo1 liabilbll¢s Financial liabilrties are derecognised when the ccffllraolual obligalThs ex￿re or are discharged or cancelled. OONATIONS AND LEGACIES 2025 2024 Donations Grants 50 641.590 875 683.993 641,640 884,868 Page 23 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 DONATIONS AND LEGACIES- continued Grants received, indude(l in the aiM)ve. are as frlbws.. 2025 2024 General Sw8nse8 University WCVA Welsh Govemment Lloyds Bank Foundation Swansea Council A8CT JRCT South Wales Policè The National Lottery Ccmmunty Fund Waks Garfield weston Foundath)n The Real F8miing Trust The Cloth Workers Paul Hamtyn FoundatKJn National Grid HUBBUB Foundat Carrnarthenshire Counryl The SNRE Chantable Trust 4,543 7.098 34,409 50,000 2,785 194.329 5,292 4,995 25,CKIO 326.892 29.(XJO 49,968 59,128 26,447 86,030 19,940 25,CKJO 15.235 9.001 100.000 88,400 10,000 4,250 7,593 88,400 26.868 25,CKJO 641,590 e83,993 RAISING FUNDS Ralslng donatlon8 and legacSeB 2025 2024 Interest payable and &rnilar charges 3,954 3,441 CHARITABLE ACMVITIES COSTS Direct Costs Projeet Activ￿.e8 426.057 TRUSTEES. REMUNERAMON AND BENEFITS There were no trustees, remurerathon cff olher benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024. Tru¥tees' expenses There were no trustees, expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024. Page 24 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 STAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 238,403 15,418 5,210 257,568 19,241 5,266 259.031 282.075 The average monthty number of employees duriThJ the year was as fclluws.. 2025 2024 10 Average numbef ofemrAoyee$ No employees re￿iVed eM￿￿men1S in excess of £60.(ts). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVrnES unrestr￿Sd funds R$$tri¢ted fvnds Total lunds INCOME AND ENDOVIMENTS FROM Donations and legaues 52.592 632,276 684,868 EXPENOITURE ON Raising funds 3.441 3,441 Charltable actlvbtles Project Activibes 42,929 432,161 475,090 Totsl 46,370 432,161 478,531 NET INCOME Tran8fer8 betsve•n fund8 6,222 2￿,116 2￿,113 12C(),1151 2CE,337 Net movement In fund¥ 2(6,337 2Cfj,337 RECONCILIATION OF FUNDS Total knnds ￿Ought forward 239,279 239,279 TOTAL FUNDS CARRIED FORWARD 445,616 445,616 Page 25 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 TANGIBLE FIXED ASSErs Improvements lo property Fixtures and ffittings Freehokl pfoperty COST Al 1 September 2￿24 Additions 207.602 206.615 191.474 24,633 24.600 At 31 August 202S 207.602 398,089 49,233 DEPRECIATION At 1 September 2024 Charge for ye8r 18.036 9,629 At 31 August 2025 27,665 NET BOOK VALUE Al 31 August 2025 207.602 398.089 21,568 Al 31 August 2024 207.602 206,615 6,597 Motor vehKYe$ Computer equipment Totsls COST At 1 September 2024 Additions 72.193 47.955 1,399 512.442 264.029 Al 31 AtJgv$l 2025 120,148 1,399 776,471 DEPRECIATION At 1 September 2024 Charge for year 36,541 12.542 1,399 55,976 22,171 At 31 August 2025 49,083 1,399 78,147 NET 800K VALUE At 31 August 2025 71.IA5 898.324 Al 31 August 2024 35,652 456,468 Induded wthin Motor vehides we the fdlowThJ amounts rdaiing to assets under hi￿ purchase agreements.. COST Al 1 September 2￿24 Additions 52,999 47,955 At 31 August 2025 100,954 DEPRECIATION At 1 Septetnber 2(r24 Charge for the year 24,281 11,5Q2 At 31 August 2025 35,783 NET BOOK VALUE At 31 August 2025 65,171 At 31 August 2024 28,718 Page 26 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors 5,288 5,288 10. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Hire purchase (see note 131 Taxation and swal security Other creditors 28,370 5,347 12,409 8,530 7,166 56,CK13 46,126 71,699 11. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR 2025 2024 Hir$ purchase (see note 13} Othér ¢ysdilors 37,890 8,154 22,843 10,873 45.844 33,716 12. LOANS An anatysi6 of the rnalurity of loans is grven tdcw.. 2025 2024 Amounts falling due within year on demand.. Other loans 2,718 2,718 Amount$ tslling betsveen eth arKJ tsvo ye8rn'. Other loans- 1-2 year$ 2,718 2,718 Amounts falling due befv4een and five years.. other loans. 2.5 years 5,436 8,155 13. LEASING AGREEMENTS Minimum lease payments under hi￿ purthase fall due as follrms.. 2025 2024 Net obligations repayab￿". Wrthin one year Be￿een one and fNe years 28,370 37,690 8,530 22,843 66,(hO 31,373 Page 27 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 14. SECURED DEBTS The fdlowing s￿red debts are Ir￿ude￿ within (xe(IrtOfS: 2025 2024 Hire purchase contracts 66,C60 31,373 Hire purchase balan￿S are seoJred on Ihe assets to whith they relate. The grant provided by The Welsh Govemment for the purpose of acquiring and reftjrbishing a building lo convert lo Communrty Enleryjrise Hub 128 Oxford Street. Swansea) indt*Yes a legal th8rge over the pioperty. The charge r85tnct5 the th8rity from any registering any transfer ty charge ￿ vnrtten Consent of The Welsh Ministers or their conveyancer. 15. MOVEMENT IN FUNDS Net movement in lunds Transfers betsveen funds Al 31.8.25 At 1.9.24 Unrestricted funds General fund Lloyd5 Bank Foundation Designated asssl funfj 31.399 113.2671 9.938 33.422 19.9381 191,474 51,554 414,217 805,691 445.616 13,3291 214.958 857,245 Rèstrlettd fund$ We15h Government Swansea Council 14,9441 1210,0141 210,014 214.9S8 (214,9S81 TOTAL FUNDS 445.616 211,629 857,245 Page 28 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 15. MOVEMENT IN FUNDS-continued Nel movernent in lunds. irK4uded in Ihe 8kN)ve are asfolkms: Incoming resources Resources expended Movement in funds Unrestrfcted funds Geneial fund Lloyds Bank Foundation ABCT 113.3171 115,0621 125.OCM)I 113.2671 9,938 25.¢JXI 25.C 153.3791 13.3291 Restrlcted funds Swansea University Welsh Government JRCT The Nakn'onal Lottery Ccmmunty Fund W8les The Real Faming Tru$l Swansea Council Carmarthenshire CouncAI Paul Hamtyn Found81ion ABCT Garfièld Weston Foundation Th& s￿RE Chantabl¥ Twsl 5,292 4.995 49.968 15,2921 1511 149.9681 19.940 15.235 326,892 26.868 88.400 119.9401 115,2351 {116,8781 126.8681 188.4CKJI 14.CKJOI 125,0(X)I 125,OLYJI 210,014 25.(M)O 25.000 s91.5￿) {376.6321 214.958 TOTAL FUNDS 641.640 1430,0111 211,629 Comp•ratlv¥g f¢r mov•m*nt in fund• Net movement in lunds Tr8n8ftrrs between funds At 31.8.24 At 1.9.23 Unr•gtriet•d funds General lund Lltsyds Bank Foundation Designated asset fund 7.627 25.( 2C6.652 31.222 12s.¢￿)I 17.4501 31,399 207,565 414,217 239,279 6,222 200,115 445.818 Rèstrietod fund8 VVe15h Govemm8nt Swansea Council The Cloth Workers {50,0(X)I 150,1(X)I {ICM),0151 50,1(X) 1￿,015 2CM).115 {2CKJ.1151 TOTAL FUNDS 239,279 2(E,337 445.618 Page 29 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 15. MOVEMENT IN FUNDS-continued Cornparab've nel movement in funds. indwleil in the above are as fdkyws.. Incoming resources Resources expended Movement in funds Unrestrfcted funds Geneial fund Lloyds Bank Foundation National Grid 39.827 2,765 10.CQO 18.6051 127,7651 110.OCM)I 31.222 125,0001 52.592 146.3701 6,222 Restrlcted funds Swansea University Welsh Government JRCT South Wales Police The National Lottery Crmmunty Fund Wales The Real Fam)ing Trust Swansea Council Carrnarthenshire Council HUBBUB Foundat P8uI Hamtyn FoundatKJn Th& Cloth Work$r$ 7,098 17,0981 SO,￿0 59.128 26.447 159.1281 126.4471 86.030 9,LX11 194.329 7.593 4.250 88.400 1LKI,O 186.0301 19,LN)11 {144,2291 17.5931 14.2501 188,4(X)I 15 50,100 100,015 632.276 1432.1611 200.115 TOTAL FUNDS 1478,5311 206,337 A current year 12 months and pnor year 12 months ccfflbined posit*)n is as fd10￿S.. Net movement in lunds Transfers betsvetrn funds Al 31.8.25 At 1.9.23 Vnre¥tri¢ted funds General lund Lloyd5 Bank Foundation Dèsignated asset fund 7.627 25.IXKI 2C6,652 17.955 115.IA21 25.972 19.9381 399,039 51,554 eos,691 239,279 2,893 415,073 657,245 R•strietod fund8 Welsh Government Swansèa Council The Cloth Workers 154.9441 1260,1141 {1(X),0151 2￿,114 1(Kl,015 415,073 {415,0731 TOTAL FUNDS 239,279 417,966 657,245 Page 30 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 15. MOVEMENT IN FUNDS-continued A current ye8r 12 rnonlhs and prior year 12 months ¢Jynbir￿I rTKwemenl in ftjnds. in￿ded in the above 8re as fr)Ilows." Incoming resources Resources expended Movement in fvnds Unrestricted funds General fund Lloyds Bank Foundation ABCT National Gild 39.877 27.765 25.C 10.1))) 121,9221 142.8271 I25.0￿) 110.OCKJI 17,955 115,C621 102,642 199.7491 2,893 Restricted funds Swansea University We15h Government JRCT South Wale$ Poli¢& The National Lottery CC￿munity Fund Wales The Real Farming Trust Swanse8 Council Carmarthbnshire Counol HUBBUB FoundatKY) Paul Hamtyn Foundation The Cloth Workers ABCT Garfield Weston Foundation Thè s￿RE Chantable Twsl 12.390 54.995 109.096 26,447 I12,3￿> 1511 {109.0961 126,4471 105.970 24.236 521.221 34.461 4,250 176.8CKI 1C(J.(MXJ {105.9701 124.2361 {261.1071 134,4611 14,2501 {176,8￿> 15 14,CKJOI 125,ofxll I25,0￿} 260,114 100.015 25.(AXI 25.C(Q 1,223,866 {808,7931 415,Q73 TOTAL FUNDS 1,326,508 1908,5421 417,968 Swansoa UnlverBIty This grant supported student ￿a￿ments at The CAE. We provNled meaningful work experien￿ to fft students frorn Swansea University, offering them opportunrtjes lo gain prac1￿?1 skills and insight into the third sector. The 8ludenl3 contributed lo oThJoing ￿m[mInty projects whle devek)png their professional capabilities. Welsh Government This grant supported the engagement events at the c{￿rn￿nty Enterprise Hub vthh people wrth lived experience of poverty. Uoyds Bank FoundatSon This was an uniestricted grant to support oui core activibes. It provided us wlh essential flexibility, enaNing us to allocate funds Whe￿ they were mosi n*Jed to ensure conssslent ddivery of key services, incknding administration, service development, and outreach. Swansea Counc51 This sér*s of awards supp￿ed multiFAè key inth"athvès'. Capital funding to refu￿lsh our Cc¥mmunty Enterprise Hub. Revenue costs for our Pathways to Prosperity projecl. whith delivers green emFloyabilty actiwtie5 and helps individuals access suslainatAe jobs. Expan510n of our loodbank delNery seN(x to ptOVKle addthnal fiK)d to users in need. These grants strengthened both our phwcal infrastructure and programmatic ddivery. Page 31 conb'nued... DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2025 15. MOVEMENT IN FUNDS-continued ABCT This grant fijnded tyjr core ath"vrfies, inthding the Salar￿ of essential staff and the delivery of employability and wellbeing sessions. These sessions have wovided cribcal support to individuals seeknng personal deve*)pment and improved mental health. Joseph Rowntree Charltable Trust IJRCT) This award supported o(Jr Climate JustKx Project. empcAvenng marginalized communiti85 lo engage environmental actmsm and e(lucation. The w)jed aimed to rnise awareness and promote faimess in dimate policy and sustainability efforts. Tha Natlonal Lottèry Communlty Fund Walls This grant funded our SMnRAS Project. delivering tsilored empbyability support lo reftJgee$ 8nd asylurn seekers in Swansea. The pr¢gramm¢ awsts i[￿1vidUal$ in ganing rec(%jn￿¢d qualif**"ons and entering the job mark&l confidently. GarNèld W•ston Foundatlon This funding supported our core operal￿s. ensuring cJJntinuty in service provision and allowing us to focus on delivering ¢omrnunty programm&s, training. and support servi¢trs lo our bentrfitiari&$. The Real F¥nnlng Trust The award supported our Twnning Project. bridging the njral-urban divide by ena￿Ing participants from urban areas lo engage in cultural and edUcat￿n81 eXd￿ngeS ￿ njral Swansea. The project promtes mutual understanding and Ioc81 food sustsinabilty. Paul Hamlyn Foundatlon This award fijnded our End workpla￿ EXploita￿n Projecl. emFM)wering migrants with knowledge ol their rights and supporting local employers to fosler indusive. lair work environments. The project promotes ethical ernployment pr8Cti¢es. Camiarthen8hlre Councll This grant funded our Pathway lo Prosperity Pfoject in Llaneli, delivering wellbeing sessions such as salsa classes and comrnunity dropins. These sessions foster community cohesion and support physKal and emots'onal wellbeing. TrAn8lèr8 bOts¥￿n lunds WCVA issuÈd £48,000 repayable a$*stan¢e dunng Ihtr y&ar*nded 31st August 2023 and this was transferred lo the general fijnd as a result ol thè moniès ￿Ing S￿nt in fijll during that yèar. A$ a r¢surt of ovèrachi¢ving on the project's targets, the￿ was a reduction of the ￿paYa￿e assistance to £13,591 during the year-ended 31st August 2024 with the difference being recognised in Ihe slalemenl ol financial activit￿$. Restrided ¢#prtal grants were received in the ojrrenl and prior year from Welsh Govemmenl, Swallsea Council and Thè Cloth Workers. Thè u)sl of the building and subsequènt impio¥emènts ale ttansferrèd from thè rèstrictÈd funds to the designated asset fund as the grants has fulfiled their purpose. Any costs required trwlards the building renovations that are in excess of Ihe grants provided, have been o)vered by the general fvnds. 16. RELATED PARTY DISCLOSURES During the year ended 31st August 2W24, the trustees approved the reimbursement of costs incurred personally by an empk)yee during the eady days of the organisation when Ihe Charity had no other income. The balan￿ owing to the empk*yee was fulty repa￿ duriThJ the year-ended 31st AugLtst 20251£9.823 owiThJ at 31sl August 20241. Page 32 DoGusign Envelope ID." 1FDFE7A>ABBC-85F7-803E_16M55BE90D5 THE CENTRE FOR AFRICAN ENTREPRENEURSHIP DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 INCOME AND ENDOWMENTS Oonations and legacies Donations Grants 875 683.993 641,5￿1 641.640 684.868 Totsl incorning resource¥ 641.640 684.868 EXPENDITURE Rai8ing donations and legaci Hire purchase 3,441 Charltsbl• odvltl Wag8$ Social sècurity Pensions Insurance Light and heat Telephone Advertising Sundries Awards & Events Costs Cleaning costs offi￿ Expenses H811 Hirel Lunch Volunteer Expens&s Professional Fees Rent PR Travel Accountsn¢y Rates Repairs Staff training Subscriptions Cornputer cost Motor Expens•$ Food bank Donations Depn of fixtures & frttings Depn of rnolor vehides Dèpn tsf computer equipment Loss on sale of tangible fixed assets 238,403 15,418 5,210 7,754 3,722 2,079 4,590 257,568 19,241 5,266 8,799 914 2,289 1,114 954 3,051 1,132 48,236 9,9)6 243 52,391 4,654 9,911 7,442 4,088 987 31.454 7,182 25,$81 4,729 2,262 5.819 1,975 3,259 87 4,401 677 22,772 6.487 370 870 1,￿)0 5,393 6,292 349 914 6,910 12.542 426,057 475,090 Totsl rèsouiees èxpènd8d 430,011 478,531 Net income 211.629 206.337 This page does not form part ofthe statutory finanual statemenis Page 33