IAFRICA FOUNDATION TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charity Number: 1163634
IAFRICA FOUNDATION REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Tnbstee$ G R Woodford l McFadyen R Rafferty Charlty Number 1163634 Registered Offl¢t The Old Rectory Brisley Dereham Norfolk NR20 SU
IAFRICA FOUNDATION CONTENTS Page TTUStees' report Statement of financial actlvities Balan sheet Statemènt of Cash flows Notes tothe financlal Mattments 8-16
IAFRICA FOUNDATION TRu¥fEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report togetherwith the unaudSted financtal ststements of the iAfrica Foundation forthe year 01 April 2024 to 31 March 2025. iAfrica Foundation became a CharTtable Incorporated Organisation ICIOI with UK registered charity number 1163634 in September 2015. Thefinancial statements have been prepared in accordanee with the accounting policies set out herein and comply with Accounting and Reporting by Charities.. Statement of Recommended Prattice ISORP 20151. OBJECTrVESAND ACTIVlnES Policies and objectlves The principal object of the charity is to promote the education (including social trainingl of people anywhere in Africa and the prevention or relief of poverty anywhere in the world by providing or assisting in the prov15ion of education. trdinin& healthcare and farming projetts and all the necessary support designed to enable individuals to generate a sustainable income and be self sufficient. In Setting objective5 and planning foractivities, the Trustees have given due considerdtion to general guidance published by the Charity Commission relating to public benefit. indudingthe guidance'Public benefit.. Running a Charity IPB21'. ACHIEVEMENTS ANO PERFORMANCE Review of acrivr(ies prite donations amounting to £12,20012024.. £42,1011. excluding gift aid. were received during the year and these were used to fund the administration costs Df the charity and towards developrnent of the'iLearnaboyt' project, which is intended to improve conservation and environmentèl education of young children across Africa. Total income for the yearamounted to £20.81112024.. £49,301). Expenditure to supportthe charitable objectives during the year was £35,96112024.. £37.8031 and support costs amounted to a credit of £2.14812024.. £1.4461. There was a defjcit of income over expenditu of £13.00112024'. surplus of £10.0521.
IAFRICA FOUNDATION TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Fundraisin8 disc105ure The charity seeks to continue its charitable work through the careful Stewardship of its existing reSoUrS and its connertions. Fundraising acrivity 15 carried out by the charity's Trustees. The chanty does not employ professional telephone orstTeet fundralsers forfundraising artivities. The charity paid for Specialist services during the year to as51St with the development of. and fvnd-raising for, an education project branded 'iLearnabouY. Development and fund-raising costs for iLearnabout durin8the year amounted to £35,96112024.. £37,803) from nStricted funds. FINANCIAL REVIEW Going concern The Trustees hève made an a55es5rnent in preparing these financial ststements asto whetherthe charity is a going concern. After making appropriate enquirie5, the Trustees have a reasonable expectation thatthe charity has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concem basis in preparing the financial statements. Further detai15 regarding the adoption of the going concern basis can be found in the accounting policies. Reserves poliLry At the period end the charity had unrestriLted funds carried forward of £20,84012024.' £33,842). The reserves policy remains to raise support forthe iLearnabout projett. Expenditure is matched to the level of income that can be raised. The Trustees are confident that sufficient levels of income will be received to support the expenditure Tequirements and maintain adequate reserves. Additional funds will be spent in the next year on the iLeamatx)ut project. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution iAfrica Foundation Is a registered charity, number 1163634, and is constituted undera Trust deed. Methods of appointment or election of TfUStee$ The management of the charity is the responsibility of the Trustees who are elected and co-opted underthe terms of the constitution. There mtsst be at least three Trustees. The maximurn numberof Trustees istwelve. Apart frorn the founding charity Trustees. every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity Trustee5. Trustees retiring at the end of theirterm are eligible for reappointment anrl have been unless noted above. In selecting individua15 for appointrnent as charityTrustee5. the charity Trustees must have regard to the 5kill5, knowledge and experience needed forthe effettive administration of the CIO. The Members of the CIO shall be its charityTrusteesfor the tirne being. The only peOnS eligibleto be members of the CIO ar2 its charity Trustee5. Membership of the CIO cannot be transferred to anyone else. Any mernberanil charycy Trustee who ceases to be a charity Trustee automatically ceasesto be a memberof the CIO.
IAFRICA FOUNDATION TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Organisatiol strurture and decislon-making policles Any decision may be taken by Trustees either.. at a meetin8 of the charity Trustees: or by resolution in writing or elertronicform agreed by all of the charity Trustees, which may comprise either a single docurnent or several documents containing the text of the resolution in like form to each of which one or more charityTru5tees has signified their agreement. The charity Trustees may delegate any of their powers or functions to a committee orcommittees and. if they do, they shall determine the terms and conditions on which the delegation is made. The charity Trustees mayat anytime alter those tem5 and conditlOll5, or revoke the delegation. Policles adopted forthe induction and training of Tnlee$ The charity Trustee5 will make available to each new charityTrustee. on or before his or herfirst appointment- lal a copy of the current version of the constitution.. and Ibl a copy of the CIO'5 latest Trustees, Annual Report and statement of accounts. Flnan¢ial risk mana%ement The Trustees have assessed the major risksto which the charity is exposed. in parricularthose related to the operations and finances of the charity, and are Satisfied that systems and procedures are in placeto mitlgate exposure to the major risk5. PLANS FOR FUTURE PERIODS The CIO plans to continue to identify. and raisefundingfor, substantial projectsthat enhancethe lives of rural people, primarily in Zambia, and improve how education and services are delivered to the rural poor. Effort5 to developthe iLearnaknut projett, which aims to provide a free World-class digital conservation curriculumto all teachers and students in su&Sahardn Africa, will continue in the comingyear.
IAFRICA FOUNDATION TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES. RE5PONSIBiunEs The Trustees are responsible for pParIngtheTrU$tees, report and the financtal statements in accordance with applicable law and United Kingdom Accountin8 Standards Iunited Kingdorn Generdlly Accepted Accounting Practice). The law applicable to charities In England & Wales quireS the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources. including its incorne and expenditure, forthat period. In preparing these financial ststements. the Trustees ère required to.. select suitable accounting policies and then apply them consistently.. observe the method5 and principles of the Charities SORP IFRS 1021.. make judgment5 and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the goin8 concern basi5 unless It is inappropriate to presume that the charity will continue in business. The Tru5tee5 are responsibl&for keeping adequate accounting records that ère sufficient to show and explain the charity's transattion5 and Llisclose with reasonable accuracy at any timethe financial position of the charity and enable them to ensu thatthe financial statements cornply with the Charities Att 2011, the Charity (Accounts and Reports) Regulation$ 2008 and the provisions of the Trust deed. They are also responsible for safeguardin8 the assets of the charity and hence fortaking reasonable steps forthe prevention and detection of fraud and other l M¢Fadyen Trustee G R Woodford Trustee Date.. 30101126 Date.. 30101126
IAFRICA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unr*5trirted Restrlcted funds furtd5 2025 2025 Totsl Totol fvnds 2024 funds 2025 Note Income from: Donations and legacies 20.811 20AII 20,811 20,811 49.301 49,301 ExpendItU on: Charitable artivities 33,812 33,812 33.812 33.812 39,249 39,249 Net lexpen¢mtuj/ln¢offle its,ooii 113.1)011 10,052 Tran5ters between fvnd5 Net movemtnt in funds 113,(Klll 113.0011 10,052 Re¢on¢iliation of fvnds.. Total funds brought forward Net movement In fvnds 3342 113,IXIII 33.842 23,790 10,052 Total funds ¢aryied forward 20.840 2040 33.842 The Statement of financial artivities includes all gains and IL155es recognlsed in the year. The notes on pages 8 to 16 form part of these financSal statements.
IAFRICA FOUNDATION BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note CurrentAssets Debtors Cash at bankand in hand 10.363 10,597 20.960 24,200 9,762 33.962 io Creditors.. amounts fallin8 due within one year llloi 11201 Net Current assets 20.840 33.842 Total assets less turrent Ilabilities 20 33,842 Totsl net a55ets 20,840 33,842 Charity funds Re5trirted funds Unrestricted funds 20,840 33.842 Total funds 20.840 33.842 The fiftancial statements were approved and authorised for Issue bytheTrustees and signed on their behalf bv.. l McFadyen G R Woodtord Date.. 3010112026 Date.. 30IOV2026 The notes on pa8e$ 8 to 16 form part of these financial ststements.
IAFRICA FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Cash flow5 from operating actlvltles Net cash used in operating attivitie5 4.182 2.577 Change Sn tash znd cash èquivalents In the year Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents dueto exchange te movements 9.762 133461 6.890 295 Cash and cash equivalents at the end of the year io 10.597 9,762 The notes on pages 8 to 16 forrn part of these financial statements.
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l. A¢¢ounting poliues 1.1 8asis of preparatlon of financial statements The financial staternents have been prepared in accordancewith the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Staternent of Recommended PraLtice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191, the Financial Reportin8 Standard applicable in the UK and Republicof Ireland IFRS 1021 and the Charities Act 2011. The financial statements are presented in 5terfing which is the functional curyency of the Charity and rounded to the nearest £. The Significant accourrting policies applied in the preparation of these finandal statements are set out below. These policies have been consistently applied to all years presented unles5 Otherwise st*ed. Thefinancial statements have been prepared to give a'true and fair. view and have departed from the Charities (Accounts and Reportsl Regulations 2008 onlyto the extent required to provide a'true and fair, view. This departure has involved followin8 the Charities SORP IFRS 1021 rather than the Accounting and Reporting by Charities.. Statement of Recommended Prartice effective from l April 2005 which has since been wSthdrawn. iAfrica Foundation meets the definttion of a public benefit entity under FRS 102. 1.1 Going concern After Man8 appropriate enquiries and tsking into consideration future income strearn5. the Trustees have a reasonable expectation thatthe charity has adequate resources to continue in operational existence for the foreseeable future. Forthis reason, they continue to adopt the goin8 concem basis in preparing the flnancial statements. 1.3 Income All income is reco8ni5ed once the charity has entirlement to the income, it is probablethatthe income wlll be received and the amount of income receivable can be measured reliably. Grants are included in ihe statement of financi81 actimties on a receivable basis. The balan of income received for specific purposes but not expended during the period 15 Shown in the levant funds on the balance sheet. Where income is received in advance of entitlement of ceIpt. its recoznition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income 15 accrued. Income tax recoverable in latIon to donations received under Gift Aid or deed5 of covenant Is recognised atthe tirn2 of the donation. Incorne tsx recoverable in relation to investment income is recognlsed at thetime the investment income is receivable.
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 l. A¢countlnB poli¢les l¢ontinutdl IA Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrtto third party. it is probable that a transfer of economic beneffts will be required in settlement and the amount of the obligation can be measured reliatsly. All expenditure is accounted for on accruals basis inclusive of VAT. All expenses including support costs and governance costs are allocated to the 3pplicable expenditUTe headings. Costs generating fund5 are costs incurred in attTaCting voluntary income, and those incurred in trading activittes and raise fund5. Charitable activitie5 and Governance costs are costs incurred on ihe tharity'5 educational operations. including support costs and costs latingtO the governance of the charity apportioned to charitable activities. 1.5 Forelgn curren¢ies Monetary assets and liabilities denominated in foreign currencies a translated into sterfing at rate5 of exchange ruling at the reporting date. Transartions in foreign currencles a translated into sterfing at the rate rulin8 on the date of the transaction. Exchange gains and losse5 are recognlsed in the Statement of financial activities. 1.6 Debtor5 Trade and other debtor5 are recognised at the Settlement amount afterany trade discount offered. Prepayments are valued atthe amount prepaid net of any trade discounts due. 1.7 Cash at bonk and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short Maturity of three months or less from the date of acquisition or openin8 of the deposit or similar account. 1.8 Liabllltie5 and provlslons Liabilities and provisions are recognised wherethe charity has a present obligation resultingfrorn a st event that will probably result in the transferof funds to a third party the amount due to Settle the obligation can be rneasured or estimated reliably. Creditor5 and provisions are normally reco8nised at their settlement amount afterallowin8forany tde discounts due. 1.9 Financlal inrtruments The charity only has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basic financial instrument5 are initially Cognised at transaction value and subsequentlv measured at their settlernent value.
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 l. Accounting pollcles l¢ontinuedl 1.10 Fund a¢¢ounting General fund5 are unrestricted funds which are available for use at the dTscretion of the Trustees in furtherance of the general objettives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted fundsthat have been set aside bythe Trustee5 for particular purposes. The aim and use of each desi8nated fund is set tsut in the notes to the financial statements. Restritted fund5 are funds which areto be used in accordance with specffic restrictions imposed by donors orwhich have been raised by the charity for particular purposes. The costs of raising and adrninistering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial ststements. 2. Income from donations and le8acie5 Unre5trlcted Rtstricted funds funds 2015 2025 Total lunds Total funds 2025 2024 DonatlOll5 (including 8rft aid) Grant5 20,811 20.811 49,301 20,811 20.811 49,301 In the prioryear, E49.301 of income frorn don3tlons and legacie5 was unrestricted. io
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 3. Analysls Of expendlture by activltles Dlre¢t Support ¢05t5 Total funds 2025 Total fund5 2024 202S 2025 Project costs Govemance costs 35.961 35,961 12,1481 33.812 37.803 1.446 39.249 12.1481 12,1481 35,961 Analy515 of dirert costs Total funds 2025 Total funds 2024 iLearnabout project eosts 3S,961 35.961 37,803 37.803 Analysls of support tosts Total Total fvnd$ 2025 funds 2024 Admlnistration Accountancy fees IGainl/loss on foreign exchange Insurance 613 445 140 13,3461 585 12,1481 295 566 1,446 li
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 4. Audttors. remuneration 2024 Independent examinerfees 140 5. Debtots- Amounts falllng due withln oneyear 2015 2024 Tax recoverable 10,363 24.2(X) 6. Crèditors: Amourts falling due within oneyear 202S 2024 Trade creditors Accruals and deferred Income 120 120 120 120 12
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 7. Statement of fund5 Statement of funds- ¢urr*nt year Balance at I Apr-24 Balance at 31 Mar-25 Income Expend5ture Transfers ilnrestricted funds General funds General funds 33,842 20.811 133,8121 Ttstal unrestri¢ted funds 33.842 20,811 I3312) 20.840 Restricted funds Total re5trirted fvnd5 Total of fund$ 33.842 20,811 133.8121 20,840 13
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 7. statemènt of funds lcontinuedl Statement of fund5- prloryear Balance at I Aprw23 Transfers Balance at 31 inlout Mar-24 In¢omè E¥pendlture Untt5trirted fvnds General funds General funds 23.790 49,301 139.2491 33,842 Totsl unrestrirted funds 23,790 49.301 139,2491 3342 Re5trirted fund5 Total restricted fvnds Totsl of fund5 23,790 49,301 139.2491 33.842 14
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 8. Analysis of net assets between funds Analysis of net assets between fund5- current year Unrestrlded Restricted fvnds funds 2025 Total funds 2025 Curr&nt assets Creditors due within one year 20,%0 11201 20.840 20,%0 11201 20.840 Analysis of net assets between funds- prioryear Unrestrlcted Re5trlcted funds fvnds 2024 Total funds 2024 Current assets Creditors due within one year 33,962 11201 33.842 33,962 11201 33.842 9. Reconc51iallon of net movements in fundsto net Cash flow from operatlng a¢tivities 2025 2024 Net income/le¥penditurel forthe year i,001) 10.052 Adjustments for Increase in debtors Decrease in creditors Gain/l10551 on foreign exchange 13,837 17,2001 20 12951 Net cash vsed in operatln8actrwities 4,18Z 2,577 10. Analysls of cash and ush equivalents 1025 2024 Cash in hand 10,597 9,762 15
IAFRICA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICOTrNINUED) FOR THE YEAR ENDED 31 MARCH 2025 11. Related party transactlons During the year, a Trustee donated £12.20012024'. £28,800) plus gift aid to the charityto support administrative costs and the iLearnabout project. The charity considery the Trustees to be the key rnanagement personnel of the charity. No remuneration or expenses were paid to the Trustees during the year12024= £Nill. 16