Company registration number". 9198014 Charity registration number: 1167106 Aspyre Africa (A company limited by guarantee) Annual Report and Financial Statements for thc Year Ended 30 September 2023 AKA Accountants Limited Suite 151 24 - 28 St Leonards Road Windsor Berkshire SL4 3BB
Aspyre Africa Contents Reference and Administrative Detsils Truste¢s' Report 2to5 Independent Examiner Report 6t07 tndependent Examinees Report post June 2016 8tolO Statement of Financial Activities Ilto 12 Balance Sheet 13 Notes to the Financial Statements 14to24
Aspyre Africa Reference and Adm inistrative Details Charity Registration Number J 167106 Company Registration Number 9198014 The charity is incorporated in England and Wales. Registered Office 31 Pursers Cross Road London SW6 4QY Independent Examiner AKA Accountants Limited Suite 151 24 - 28 St Leonards Road Windsor Berkshire SL4 3BB Page I
Aspyre Africa Trustees, Report The trustees. who are directors for the purposes of company law, present the annual report together with the financial statements and examiners, report of the charitable company for the year ended 30 September 2023. Objectives gnd activities Objecls The Charity's objects, &s defined in its Memorandum and Articles of Association. incorporated 1st September 2014 and amended by special resolution 6th April 2016. are specifically restricted to the prevention or relief of povety or financial hardship of young people aged 15 to 25 in Senegal in particular but not exclusively in such ways as thc trustees think fit including by providing or assisting in the provision of education. trdining and all the necessary support designed to enable individlS to generate a sustainabl¢ incom¢ and be s¢lf-sufficienL Misson To provide vulnerable young people in Senegal with access to quality vocational training, market-driven employment and entrepreneurship OPPOTtunities by developing a sustainable model of services and bringing about systemic change. Objectives To undertake grassroots level £Spilot" projects: To test innovative me&sures which address the issues preventing vulnerable young people from accessing quality vocational training and decent work To gather lessons learned in different contexts and sectors, with different target groups and different vocational training centres To refine Aspyre Africa's draft 66Model of Services" and recommendations based on lessons learned through pilot projects and research To contribute to systemic change and sustsinable solutions to provide equal access to quality vocational training and decent work for vulnerable young people. Page 2
Aspyre Africa Trustees, Report Review ofAcliw"lies Aspyre Africa continued to undertake its pilot projects. In Saint-Louis, Aspyre Africa supw)rted 40 Koranic students through their vocational training. 20 were trained in the installation and maintenance of solar panels at the Esebat centre. A further 20 were trained in car mechanics at the Lycee Technique Anthe Peytavin. Meanwhile, Aspyre Africa continued to provide guidance and ¢ntrepreneurship suptK)rt to its fomier trainees in horticulture, including helping some to access start up funds to set up their own income generating activities. In this financial year Aspyre Africa also expanded its activities to Guediawaye, a suburb of Dakar. In partnership with the "Centrc de Sauvegarde de Pikinel Guediawaye" (safeouarding centre) Aspyre Africa recruited 3 groups (60 in total) of at-risk young people to be enmlled in training (solar energy. car mechanics & welding) at the nearby Lycee Limamou Laye (Ministry of Vocational Training), one of Senegal's most successful educational establishments. A true milestone for Aspyre Africa this year was th¢ fact that the technical part of the trdining projects undertaken was funded directly by the 3Fpf, the Senegalese Government Fund for Vocational Training. In addition to covering the missing essential components including breakf&st and transporl Aspyre Africa was able to focus on its added value: reaching out to the most vulnerdble, making sure they . tret enrolled. guiding and supporting them throughout the training, making sure they have the nccessary skills and support to enter the labour market or start their own income generating activity. Many lessons were learned to help refine Aspyre Africa's draft "Model of Services" Aspyre Africa continued to document the challenges young people are facing as well as the challenges experienced by the trdining centres and other service& In March 2023 Aspyre Africa was officially recognised as a foreign charity working in Senegal and was able to sign a fornial partnership with the Ministry of Vocational Training. Temis of references were drafted to undertake two baseline surveys to be undertaken in the next financial year. Public benefil Activities undertaken to further ublic benefit The trustees confirn] that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Trnstees and officers The trustees and officers serving during the year and since the year end were as follows". Trustees: Veronique Cowan Savina Geerinckx Katia Hountondji Michael Mattingly Saliou Se¢k Marie-Laure Prevost Page 3
Aspyre Africa Trustees, Report Structure, governance and management Nalure ofgoverning documenl Aspyre Africa's governance is described in its Mcmorandum and Articles of Association. The Company was registered with the Charity Commission on the 16th of May 2016. The Current Board of Trustee-Dir¢ctors is shown on the previous page. New candidates are considered by the existing Trustee-Directors according to how their skills and extxrience match identified needs. St8tement of trnstees, responsibilities The trustees (who are also the directors of Aspyre Africa for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Compani&8 Act 2006 Telating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitsble company for that period. In preparing these fjnancial statements. the trustees are required to: select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed. subject to any material departures disclosed and explained in the financial statements; and prepare the flnancial statements on the going LM)ncern basis unless it is inappropriate to presume that the charitable company wil I continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 2nd enable th¢m to ensure that the financiaJ statements comply with the Companies Act 2006. They arc also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the c4)rpordte and financial inforn)ation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from Icgislation in other jurisdictions. Disclosure of inforniation to exgminer Each trustee has taken steps that they ought to have taken as a trustee in onler to make themselves aware of any relevant examine inforniation and to establish that the charity's examiner is aware of that inforniation. The trustees confirn] that there is no rclevant information that they know of and of which they know the examiner is unaware. Page 3
Aspyre Africa Trustees, Report Small eomp8nies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report w&s approved by the trustees of the charity on JO May 2024 and signed on its behalf by: VeTonique Cowan Trustee Page 5
Aspyre Africa Independent Examiners. Report to the Members of Aspyre Africa We have examined the financial statements of Aspyre Africa for the year ended 30 September 2023. which comprise the Statement of Financial Activities, Balance Sheel and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and Financial Reportino Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)). This report is made solely to the charitsble company's trustees, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our examine work has been undertaken so that we might state to the charity's trustees those matters we are required to stat¢ to them in an examiner's report and for no other purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our examine work, for this repor4 or for the opinions we have fornied. Respeetive responsibilities of trllSte and examiners As explained more fully in the Ststcment of trustees, responsibilities (set out on page 4), the trustees (who are also the directors of the charitable company for the purposes of company Raw) are responsible for the preparation of the financial stat¢ments and for being satisfied that thcy give a true and fair view. Our responsibility is to examine and express an opinion on the financial statements in accordance wilh applicable law and International Standards on examining (UK and Ireland}. Those standards require us to comply with the Auditing Prnctices Board's (APB'S) Ethical Standards for Examiners. Scope of the examine of the financi21 statemeuts An examine involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatemen( whether caused by fraud or error. This includes an assessment of." whether the accounting policies are appropriate to the charitable company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees. and the overall presentation of the financial ststements. In addition, we read all the financial and non-financial inforniation in the Trustees, Report to identify material inconsistencies with the examined financial statements and to identify any infonnation that is apparently materially inc0eCt based on, or materially inconsistent witlL the knowledge acquired by us in the course of perfonning the examine. If we become aware of any apparent material misstatements or inLX)nsistencies we consider the implications for our report. Opinion on the financial statements In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 30 September 2023 and of its results for the year then cnded. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the r4uirements of the Companies Act 2006. OpinioD on other matter prescribed by tbe trustees, report In our opinion the infonnation given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial ststements. Matters on whieh we are required to report by exeeptioD We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: Page 6
Aspyre Africa Independent Examiners, Report to the Members of Aspyre Africa adequate accounting records have not been kepL or returns adequate for our examine have not been received from branches not visited by us" or the financial statements are not in agreement with the accounting records and returns" or certain disclosures of trustees remuneration specified by law are not made" or we have not receiv¢d all the infonnation and explanations we require for our examine. (Senior Statutory Examincr) For and on behalf of AKA AccounL2nts Limite Statutory Examiner Suite 151 24 - 28 St Leonards Road Windsor Berkshire SL4 3BB 28 May 2024 Page 7
Aspyre Africa Independent Examiners Report to tbe Members of Aspyre Africa I report on the accounts of the charity for the year ended 30 September 2023 which are set out on pages I I to 24 . In our opinion the financial statements: give a true and fair view of the state of the charity's affairs at 30 September 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have be¢n properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our examine in accordance with International Standards on examining (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the examiner responsibilities for the examine of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our examine of the financial statements in the UK, including the FRC'S Ethical Standard. and the provisions available for small entitie& in the circumstanLYs set out in note to the financial statements, and we have fulfilled our other ethicaI responsibilities in accordance with these requirements. We believe that the examine evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In examining the financial statemen& we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. B&8ed on the work we have perforn)ed. we have not identified any material uncertainties relating to events or conditions tha( individually or collectively, may cast signifjcant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the truslees with respect to going concern are described in the relevant sections of this r¢porL Other information The trustees are responsible for the other inforniation. The other infom]ation comprises the inforniation included in the annual report, other than the financial statements and our exatniner's report thereon. Our opinion on the financial statem¢nts does not cover the other infom)ation and, except to the extent otherwise explicitly stated in our reporL we do not express any forn] of assurance conclusion thereon. Jn connection with our examine of the financial statements, our responsibility is to read the other inforniation and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the examine or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent materiat misstatementy we are required to detern]ine whether there is a material misstatement in the financial statements or a material misstatement of the other inforn)ation. If, based on the work we have perfornied, we conclude that there is a material misstatement of this other Informatio we are required to report that facL We have nothing to report in this regard. Page 8
Aspyre Africa Independent Examiners Report to the Members of Aspyre Africa Opinion on other matter prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the examine: the infomiation given in the Trustees, Report for the financial year for which the fmancial statements are prepared is consistent with the financial statements. and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the Gharity and its environment obtained in the course of the examine, we have not identified material misstatements in the TThteeS, ReporL We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion". adequate accounting rccords have not been kepL or returns adequate for our examine have not been received from branches not visited by us" or the financial statements arc not in agreement with the accounting records and returns" or certain disclosures of trustees remuneration specified by law are not made; or we have not received all the infomiation and explanations we require for our examine. Responsibilities of trustees As explained more fully in the Statement of trustees, responsibilities (set out on page 4). the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees detern)ine is necessary to enable the prepardtion of financial statements that are free from material misstatemenL whether due to frdud or ern)r. In preparing the financial statementy the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Examiner responsibilities for the examine of the financial statements Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatem¢n¢ whether due to fraud or error, and to issue an examiner's report that includes our oplnion. Reasonable assurance is a high level of assurance, but is not a guarantee that an examine conducted in accordance with ISAS (UK) will always detcct a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggtEgat4 they could reasonably be expected to influence the economic decisions of users taken on the basis of these financiat statem¢nts. The extent to which our proc&lures are capable of detecting irregulariti4 including fraud is detailed below: Use of our report This report is made solely to the charitable company's trustees, as a body) in accordance with Chapter 3 of Part 16 of the Companics Act 2006. Our examine work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an examiner's report and for no other purpose. To the fullest extent pern]itted by law, we do not accept or assume resp)nsibility to anyone other than the charitable company and its trustees as a body, for our examine worL for this repoo or for the opinions we have fornied. Page 9
Aspyre Africa Independent Examiners Report to the Members of Aspyre Africa (Senior Statuto Examiner) For and on behalf of AKA Accountants Limited. Statutory Examin Suite 151 24 - 28 St Leonards Road Windsor Berkshire SL4 3BB 28 May 2024 Page 10
Aspyre Africa Statement of Financial Activities for the Year Ended 30 September 2023 ncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2023 Restricted funds Note Income and Endowmellts from= Donations Other income 2.076 1.918 32.341 34,417 1,918 Total income 3,994 32.341 36.335 Expenditure on: Raising funds Charitable activities Governance costs Support costs allocated to activities (429) {429) (18,669) (754) 299 (18.669) 10 (754) 299 Total expenditure 20.151 Net (cxpenditureyincome 2,512 13,672 Net movement in funds 2.512 13,672 16,184 Reconciliation of funds Total funds carried forward 13 2.512 13.672 16.184 The notts on pages 14 to 24 forn an integral part of these financial statements. Pagell
Aspyre Africa Statement of Financial Activities for the Year Ended 30 September 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2022 Restricted funds Note Income and Endowments from: Donations Other income 4,979 933 1,081 6,060 933 Totsl income 6.993 Expenditure on: RaTsing funds Charttabl¢ activities Governance costs Support costs allocated to activities (492) (492) (8,275) (252) 3,037 (8.275) 10 (252) 3,037 Total expenditure Net (expenditure)lincome 2,131 7,194 5,063 Net movement in funds 13 2,131 1,081 5,063 Reconciliation of funds All of the charity's activities derive from continuing operations during the above two pcriods. The funds breakdown for 2022 is shown in note 13. The notes on pages 14 to 24 forni an integral part of these fjnancial statements. Pagell
Aspyre Africa (Registration number: 09198014) Balance Sheet as at 30 September 2023 2023 2022 Note Current assets Cash at bank and in hand 12 30,077 13.232 Creditors: Amounts falling due within one year Net assets 13 660 29.417 13.232 Funds of the charity: Restricted income funds Restricted funds 14,444 772 Unrestricted income funds Unrestricted funds 14.973 Totsl funds 14 29.417 These financial statements have been prepared in accordance with the special provisions lating to companies subject to the small companies regim¢ within Part 15 of the Cornpanies Act 2006. The financial statements on pages l l tr) 24 were approved by the trustee4 and authorised for issue on 30 May 2024 and signed on their behalf by: Veronique Cowan Trustee The notes on pages 14 to 24 fom] an integral part of these financial statements. Page 13
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 I Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £5 towards the assets of the charity in the event of liquidation. The address of its registered office is: 31 Pursers Cross Road London SW6 4QY These financial statements wcre authorised for issue by the trustees on 30 May 2024. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied tt) all the years presented. unless otherwise stated. Statement of compliance The financial ststements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities pr¢paring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)). the Financial Rcporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Aspyre Africa meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially r¢cognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going CODcern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of a$ts held by the charity. Income and endowments All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of the income rcceivable can be measured reliably. Page 14
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 Donations Donations are recognised when the charity has been notified in WTiting of both the amount and settlement date. In the event that a donation is subject to conditions that requi a level of perfonnance by the charity before the charity is entitled to the fvnds. the income is deferred and not recognised until either those conditions are fully mel or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Invulment income Dividends are recognised once the dividend has been declatEd and notification has been received of the dividend due. Expenditure All expenditure is recognised once th¢re is a legal or constructive obligation to that expenditurq it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregatc similar costs to that category. Where wsts cannot be directly attrlbuted to particular headings they have been allocated on a b&sis consistent with the use of resourc¢& with central staff costs allocated on the basis of tiTne spent, and depreciation charges allocated on the rtIOn of the asset's use. Other support costs are allocated bascd on the spread of staff costs. Rwsingfunds These are costs incurred in attsxcting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charitable activities Charitable activities include central functions and have been allocated to activity cost categories on a basis onsistent with the use of resource& for example. consultancy fees and project costs. Governante costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including examine, strategic management and trustees meetings and reimbursed expenscs. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finansx Act 2010 and therefore it meets the definition of a charitable company for UK corporation Purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains Icceived within categories covered by Chapter 3 Part I I of the Corporation Tax Act 201 O or Section 256 of the Tation of Chargeable Gains Act 1992, to the extent that such income or gaÉns are applied exclusively to charitsble purposes. Page 15
Aspyre Africa Notes to the Finaneial Ststements for the Year Ended 30 September 2023 Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payablc are classified as current liabilities if the charity does not have an unconditional right. at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve rnonths after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Foreign exchange Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign curr¢nci&s at the balance sheet date are reported at the ratss of exchange Prevailing at that date. The results of overse&s operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overs¢as operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate). Other exchange differences are recognised in the Statement of Financial A1vitieS in the period in which they arise except for: l) exchange differences on transactions entered into to hedge certain foreign currency risks (see above); 2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income. and 3) in the case of the consolidated financial statement& exchange differences on monetary items receivable frorn or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forniing part of the net investment in the foreign operation), which are rccognised in other comprehensive income and reported under equity. Fund structure Unrestricted income fi]nds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Designated funds are unrestiicted funds set aside for specific purFK)ses at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Page 16
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 inancial instruments Anveslments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their faiT value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairnienL Investments in subsidiaries and associates are measured at cost less impairnienL For investments in subsidiaries acquired for consideration including the issue of shares qualifyino for merger relief, cost is measured by reference to the nominal value of the shaT¢S issued plus fair value of other consideration. Any premium is ignored. Derivutivefinancial inslruments The charity uses derivative financial instrnments to reduce exposure to forei.(Tn exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes. Derivatives ar¢ initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting dat¢. The resulting gain or loss is recognised in statement of financia activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financAal activities depends on the nature of the hedge relationship. Fr value measuremenl The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumsLqnces or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value. the fair value is estimated by using a valuation technique. 3 Income from donations Unrestricted funds Designated General Restricted funds Total 2023 Donations" Donations from companies, trusts and similar proceeds (£25,200 received from Moneygram through Global Giving) Donations 25.200 7.141 25200 9.217 2.076 32,341 34.417 Page 17
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 Unrestricted funds Designated General Restricted funds Total 2022 Donations 4,979 1,081 6.060 4.979 6.060 4 Other ineome Unrestricted funds General Total 2023 Online Fundraising Merchandise Gift Aid Interest receivable on bank deposits 407 387 1.072 52 1,918 407 387 1,072 52 1,918 Unrestricted funds General Total 2022 Online Fundrnising Merchandise Gift Aid Interest receivable on bank deposits 135 724 135 724 70 70 933 933 Page 18
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 5 Expenditure on raising funds Raising funds Unrtstricted funds General Total fund$ Nots Raising lld$ 429 429 Total for 2023 429 429 Total for 2022 492 492 Total costs 6 Expenditure on charitable activities Restricted funds General Total funds Note Charitable activities 18,669 Total for 2023 18,669 18,669 Total for 2022 8.275 8.275 Page 19
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 8 Analysis of raising fund costs Raising funds expenditure Unrestricted funds General Total funds Basis of allocation Website Fundraising Trading 79 79 120 230 120 230 Total for 2023 429 429 Total for 2022 492 492 9. Analysis of charitable aetiviti£s Restricted funds Gener21 Total funds Basis of allocation Allowances for trainees on vocational training programmes Programmes manager Dakar Programmes manager St Louis Project oifjcer St Louis 2,883 8.147 6,221 1.418 2.883 8,147 6,221 1.418 Total for 2023 18,669 18.669 Total for 2022 8,275 Page 20
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 10 Governance costs Unrestrieted funds General Total nds Basis of allocation Accountancy fees Legal fees Annual return G¢ncral expenses 660 660 35 35 13 13 46 Total for 2023 754 754 Unrestricted funds General Total funds Basis of allocation Annual return General expenses Dats Protection Fee 13 204 13 204 35 35 Total for 2022 252 252 11 Taxation The charity is a registered charity and is therefore exempt from t&¥ation. 12 Cash and cash equivalents 2023 2022 Cash at bank 30,077 13,232 Page21
Aspyre Africa Notes to the Financial Statements for the Year Ended 30 September 2023 13 Creditors: amounts falling due within one year 2023 A¢¢ruals 660 660 14 Funds Balance gt I October 2022 IncomiJRg resources Resources expended Balance at 30 September 2023 untricted funds General 12.460 3.995 (1.482) 14,973 Total unrestricted funds 12.460 3,995 (1,482) 14,973 Restricted funds 772 32.340 Total funds 13.232 36.335 20,150 Page 21
Aspyre Africa Notes to the Financial Ststements for the Year Ended 30 September 2023 Balance at I October 2021 Incoming resources Resources expended Balance at 30 September 2022 Unrestricted funds General 933 6,239 Designated 7.172 4.979 Total unrestricted funds 4,979 933 Restricted funds 6,239 12.151 1.081 Total funds 1,081 6,060 933 6,239 13,232 15 Analysis of net assets between funds Total funds at 30 September 2023 Funds General Cuent assets Current liabilities 30,077 660 30,077 660 Total net assets 29.417 29,417 Current assets of £30.077 is for cash at bank balance. Out of thi& £14,444 are restricted funds and £15.633 are unrestricted funds. Unrestricted Total funds at 30 funds September General 2022 Current assets 13.232 16 Anglysis of net funds At l October At 30 September 2022 2023 Cash at bank and in hand 13,232 30,077 13232 30.077 Page 22
Aspyre Africa Statement of Financial Activities by fund for the Year Ended 30 September 2023 Unrestricted Funds Total Total unrtrActed Unrestricted Funds Funds 2023 2022 Income and Endowments from: Donations Merchandise Investment income Gift Aid Onlin¢ fundraising Total income 2,076 387 52 4.979 724 1.072 407 135 3,994 5,912 Expenditure on: Raislng funds Governance costs Charitable activities Support costs allated to activities Total expenditure Net expenditure Reconciliation of funds (429) (754) (492) (252) (5,351) 3.037 299 1.482 3,220 Total funds carried forward 2,512 3,220 This page does not forni part of the statutory financial statements. Page 23
Aspyre Africa Statement of Financial Activitios by fund for the Year Ended 30 September 2023 Restricted Funds Total Restricted Funds 2023 Totsl Restrieted Funds 2022 Income and Endowments from: Donations 32,341 1.081 Total income 32,341 1,081 Expenditure OD: Charitable activities 18.669 2.924 Net income 13,672 1,843 Reconciliation of funds Total funds carried forward 13,672 1,843 This page does not forni part of thc statutory financial statements. Page 24
Aspyre Africa Detailed Statement of Financial Aetivities for the Year Ended 30 September 2023 Totsl 2023 Total 2022 Donalions Appeals and donations Gift Aid tax reclaimed 34,417 1.072 35.489 6.060 70 6,130 Chan"lable aetivi¢ie5 Merchandise 387 724 387 724 Investmenl income Interest on cash deposits 52 52 Ollier income Online Fundraising 407 407 135 135 RSing[Un(l Merchandise Website Fundraising consultant (230) (79) (120} (160) (332) 429 492 Charilable aclivities Allowances for trainees on vocational tszining programmes Project officer Saint Louis Programmes Manager Dakar Programmes Manager Saint Louis (2,883) (1,418) (8,147) 6.221 18.669 (2,253) (3,980) 2,042 8,275 Governance costs Accountancy fees Legal fees Annual return General expenses (660) (35) (13) (35) (13) 204 754 252 Page 25
Aspyre Africa Detailed Statement of Financial Aetivities for the Year Ended 30 September 2023 Support Costs allocated to aetivities Bank charges Monitoring and Evaluation costs Translation (193) (93) (2.774) 170 3,037 106 299 This page does not form part of the statutory financial statements. Page 26