ASPYRE AFRICA
Aspyre Africa
Annual Report and Financial Statements
Year ended 30 September 2025
Charity reglstered in England & Wales no. 1167106
Company limited by guarantee registered in England & Wales no. 9198014

Aspyre Africa
Annual Report and Financial Statements forthe year ended 30 September 2025
Trustees, Report
The Trustees, who are also dirertors forthe purposes of company law, present their report
and the financial statements for the year ended 30 September 2025, which are also
prepared to meet the requirements for a Directors Report as required by company law.
Objectives and activities
Objects
The Charity's objects are the prevention or relief of poverty or financial hardship of young
people aged 15 to 25 in Senegal in particular but not exclusively in such ways as the trustees
think fit including by providing or a551Sting in the provision of education, training and all the
necessary support designed to enable individuals to generate a sustainable income and be
self-sufficient.
Mission and Objectives
The Charity's mission is to provide vulnerable young people in Senegal with access to quality
vocational trainin& market-driven employment and entrepreneurship opportunities by
developing 3 5U5tainable model of services and bringing about systemic change.
The Charity's objectives are-.
To undertake grassroots level 'pilot" projects..
o To test innovative measures which address the issues preventing vulnerable
young people from accessing quality vocational training and decent work
o To gather lessons leamed in different contexts and sectors, with different
target groups and different vocational training centres
To refine Aspyre Africa's draft Model of Service5 and recommendations based on
lessons learned through pilot projects and research
To contribute to Systemic change and sustainable solutions to provide equal access
to quality vocational training and decent work for vulnerable young people
Public benefit
The Trustees confirm that they have taken due account of the guid2nce contained in the
Charity Commission's guidance on public benefit when reviewing the Charlty's aims and
objectives and in planning future activities.
The Charity meets the public benefrt requirement through its work in Senegal. We
undertake grassroots projects in Dakar and Saint-Louis identifying vulnerable young people,
including those OEJt of school, Koranic pupils, and those facing economic and social barriers,
and enrolling them into quality, market-driven vocational training. We provide them with
individual support before, during and after their training so that they can Secure sustainable
livelihoods. This support ranges from paying transport fees to the training, having one-to-
one se55ions, carrying out family visits to ensure family support. to securing internship5 or
providing basic toolkits with equipment.
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Aspyre Africa
Annual Report and Financial Statements forthe year ended 30 September 2025
The Charity is strengthening its approach to gender inclusion and is committed to achieving
at least 50% female participation in future programmes.
Review of activities
Introduction
For many of the young people Aspyre Africa works with in Seneg31. completing vocational
training is only the beginning of a much more uncertain journey. The transition from training
to 5UStainable work is often fragile, shaped by limited opportunities, financial constraint5.
and family pressures.
The year ending 30 September 2025 marked a period of consolidation and important
strategic progress for Aspyre Africa, as the organisation focused on strengthening the
support provided at this critical stage. Building on previous programme delivery in Dakar
and Saint-Loui5, the Charity deepened its follow-up work, strengthened partnerships with
public institutions, and began structuring its approach to better support young people into
Sustainable livelihoods.
A significant milestone was the formalisation of a three-year partnership agreement with
the Ministry of Vocational Training, through the Direction Genérale de la Formation
Professionnelle IDGFPTI. This marks an important step towards embedding Aspyre Africa's
work within public systems and increasing its potential for long-term impact.
We are also particularly grateful to Islamic Relief Nederland for thelr generous support,
which ha5 enabled the delivery of our 2025 programme in Dakar. This support has made it
possible not only to provide access to training, employment and self-employment
opportunities for vulnerable young people, but also to strengthen follow-up support and
contribute to the mapping and improvement of existing services.
Testing solutions through pilot projects
During the year. Aspyre Africa continued to implement pilot activities in Dakar and Saint-
Louis, focusing on prartical ways to support vulnerable young people into employment and
income-generating activities.
In Dakar, the Charity provided structured follow-up support to 56 young people who had
completed vocational training the previous year at the Lycee Seydina Limamou Laye ILSLLI
in Guédiawaye. The training had been delivered in collaboration with the 3FPT, with
beneficiaries identified through the Centre de Sauvegarde de Pikine/Guédiawaye.
The focus of the year was to support these young people as theytransitioned into the next
phase of their journeys. Each participant received individualised support, including in-depth
assessments, tailored action plans, and, where possible, family engagement. This allowed
the organisation to better understand the constraints faced by each young person and to
respond with appropriate pathways-whether through employment, further trainin&
Internships or self-employment.
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Support was practical and targeted: helping young people develop Cvs, identify
opportunities, access internships, and, where relevant, receive toolkits to begin incom
generating activities. This work reinforced a key learning: vocational training alone is not
sufficient without sustained, personalised follow-up.
In Saint-Louis, Aspyre Africa continued to support graduates in solar ener8y and car
echanics as they progressed through internships with local employers. Regular
engagement with both trainees and supervisors ensured that progress was monitored and
that challenges could be addressed. Over time, some participants began moving towards
independent attivities. SUPPOrted by access to professional equipment and continued
guidance.
Field visits undertaken during the year enabled close monitoring of these activities, dirett
engagernent with beneficiaries and employers, and strengthened relationships with local
partners.
Building a model of services
Alongside programme delivery, the Charity began to consolidate learning from its pilot work
to inform the development of a more structured model of services.
A key focus wa5 the Strengthening of support mechanism5 Wlthin the Lycee Seydina
Limamou Laye. This included improving access to employment opportunities through
employer mapping and exploring the development of "training enterprises" within the
centre to provide a more supportive environment for young people who requlre additional
practical experience.
Work also began to identify students currently enrolled in training but at risk of dropping
out, with the aim of integrating earlier support into the system. At the same time, the
organisation continued to build a clearer understanding of employment pathways, including
through the development of a database of internship and job opportunities.
This work represents an important step towards defining a model that combines trainin
follow-up, and employment support in a structured and replicable way.
Strengthening and scaling through partnerships
The year also saw important progress in strengthening partnerships and contributing to
systems-level change.
The formalisation of the partnership with the Ministry of Vocational Training, through the
DGFPT, provides a framework for deeper collaboration and alignment with national
priorities. This builds on ongoing co112boration with the 3FPT and strengthens Aspyre
Africa's position within the vocational training ecosystem.
At the local level, partnerships with the Lycée Seydina Limamou Laye and the Centre de
Sauvegarde de Pikine/Guédiawaye contlnued to play a central role in identifying and
supporting vulnerable young people.
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Aspyre Africa
Annual Report and Financial statements for the year ended 30 September 2025
In parallel, Aspyre Africa initiated work to better understand the broader ecosystem of
services available to young people. This included developing and testing tools to map
services and stakeholders, and launching initial service mapping work in Guédiawaye and
Saint-Louis. This work aims to identify gaps, improve coordination, and inform both
programme design and longer-term systems strengthening.
Learning and adaptation
The year reinforced several important lessons. Sustained follow-up after training remains
critical to achieving meaningful outcomes. Family context plays a significant role in shaping
young people's trajectories, and must be taken into account. Individualised support
pathways are more effective than 5tandardised approaches, particularly for the most
vulnerable. Finally, strong partnerships and realistic timeline5 are essential when working
within complex institutional environments.
These insights are now informing both programme delivery and the development of Aspyre
Africa's model.
Challenges and Risks
Aspyre Africa faced 3 number of challen£es during the year, including delays linked to
funding timeline5 and external factors, limited in-country coordination capacity, and
dministrative constraints within partner institutions. The complexity of beneficiaries,
situations also required significant flexibllity and adaptation.
These challenges were addressed through close engagement with partners, adaptation of
timelines, and continued hands-on monitoring.
Future plans
In the coming year, Aspyre Africa will continue to deliver and strengthen its programrnes in
Saint-Louis and the Dakar area with the support of Islamic Relief Nederland supporting
vulnerable young people into vocational trainin& internships and sustainable livelihoods.
We will place particular emphasis on strengthening follow-up support to ensure that
training leads to meaningful employment or self-employment outcome5, while maintaining
a focus on reaching those most at risk, including through a continued commitment to
gender balance.
Alongside programme delivery, Aspyre Africa will continue to refine its model of services,
drawing on learning from ongoing activities and from baseline surveys mapping existing
provision. This will support enhanced collaboration with public institutions, including
vocational training centres and government services, with the aim of improving
coordination and contributing to more effective and inclusive systems.
The Charity will also prioritise strengthening its organisational capacity to support delivery
and future growth. This includes improving programme coordination across locations,
developing more consistent monitoring and reporting systems, and strengthening
fundraising and partnership development. These steps are intended to ensure that the
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Charity is well positioned to sustain its activities, build on current partnerships, and secure
funding for future work.
Legal and administrative detsils
Registered Office
31 Purserfs Cross Road
London
SW6 4QY
Board of Trustees
Veronique Cowan
Savina Geerinckx
Katia Hountondji
Michael Mattingly (resigned 7th February 20261
Marie-Laure Prevost
Saliou Seck
Structure, governance and management
Aspyre Africa was registered in England and Wales as a company limited by guarantee
191980141 on I September 2014 and as a charity11167106} on 16 May 2016. It is governed
by it5 Memorandum and Article5 of Association dated 6 August 2014 as amended by special
resolution 6 April 2016.
The Charity is governed by a Board of Trustees who are also directors for the purposes of
company law. Details of the trustees who served duringthe period are given above. New
candidates are considered by the existing trustees according to how their skills and
experience match identified needs. The Board of Trustees met four times during the year.
The Charity's work is managed on a day-to-day basis by Savina Geerinckx, one of the
Founder5. This includes responsibility for programme oversight, partnerships. fundraising
and organisational development.
Programme delivery is implemented by a dedicated team based in Senegal, who are
responsible for the coordination and delivery of activities in Saint-Louis and the Dakar area.
The Founder undertakes regular field visits to support programme monitoring, strengthen
partnerships and ensure alignment between strategic priorities and operational delivery.
The Charity recognises the importance of maintaining clear governance and management
structures and is continuing to strengthen its systems and processes to support its
development as it grows.
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pyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Financial review
Overview
The Charitls total income during the period was £53,60712023-24: £11,113) against a total
expenditure of £39,28112023-24: £19,258), giving an operating surplus for the period of
£14.32612023-24= £8,145 deficit).
The Charity secured funding to 5UPPOrt programme delivery during the year, including
funding from Islamic Relief Nederland for follow-up work in Dakar. Additional funding was
raised through crowdfunding initiatives.
Expenditure focused on programme delivery and beneficiary sUPPOrt, including internships,
transport. toolkits, and staffing.
Reserves
The reserve policy states that unrestricted reserves should be maintained at a level
equivalent to at least six months, otherwise unfunded expenditure. Unrestricted reserves at
the end of the financial year remain above that level because there is very little unfunded
expenditure.
Restricted reserves are funds held for specific projects and will usually be spent within a
year of their receipt.
Total reserves of £35,19412024.' £20,798) are carried forward to the next financial year, of
which unrestricted reserves are £9,376 {2024: £19,184) and restricted reserves are £25,818
12024: £1,614).
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the
Charity has adequate resources to continue in operational existence for the foreseeable
future. For this reason, they continue to adopt the going concern basis in preparing the
financial statements.
Statement of Trustees, responsibilities in relation to the financial
statements
The Trustees Iwho are also the directors of the charitable company for the purposes of
company lawl 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) I'FRS 102,1.
Company law requires the Trustees to prepare financial statements for each financial year.
Under cornpany 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 its incoming resources and application of resources, including its income and
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
expenditure, for that period. In preparing these financial statement5, the Trustees are
required to-
select suitable accounting policies and then apply them consistently.
observe the methods and principles of the Charities SORP FRS 102;
make judgements 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 explalned in the financial
statements;
prepare the financial statements on the going concern basis unless it is inapproprlate
to presume that the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufFicient to
show and explain the company's transactions and disclose with reasonable accuracy at any
time the financial position of the charitable company and enable them to ensure that the
financial statement5 comply with the Companies Act 2006. They are 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.
In preparing this report, the Trustees have taken advantage of the small companies,
exemption5 provided by section 415A of the Companies Act 2006.
Approved by the Board of Trustees on 16 June 2026 and signed on its behalf by:
Savina Geerinckx
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Independent examinerfs report to the trustees
I report to the Trustees on my examination of the financial statements of ￿pYre Africa (the
Charity) for the year ended 30 September 2025, which are set out on pages 10 to 18.
Responsibilities and basis of independent examiner's report
As the Trustee5 of the Charity land also its directors for the purposes of company lawl you
are responsible for the preparation of the financial statements in accordance with the
requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity are not required to be
audited under Part 16 of the 2006 Act and are eligible for independent examination, I report
in respect of my examination of the Charity's financial statements carried out under section
145 of the Charities Act 2011 Ithe 2Qll Act). In carrying out my examination I have followed
all the applicable Direction5 given by the Charity Commission under sertion 145{5llbl of the
2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respert of the Charity a5 required by section 386
of the 2006 Act: or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section
396 of the 2006 Act other than any requirement that the accounts give a true and fair
view which is not 3 matter considered as part of an independent examination- or
4. the financial statements have not been prepared in accordance with the methods and
principles of the Statement of Recommended Practice for accounting and reporting
by charities applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}.
I have no concerns and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
kji
David Howard Chartered Accountants
I Park Road
Hampton Wick
Kingston Upon Thame5
KTI 4AS
Dated: 16 June 2026
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Statement of Financial Atttvities for the year ended
30 September 2025
(including an Income & Expenditure account)
Total
Total
Unrestrirted Restricted
funds
funds
funds
2025
funds
2024
Note
Income from:
Donations
Grants received
Event5 & merchandise
Interest received
Other income
Total income
6,497
6,497
38,352
173
9,744
1,045
55
38,352
173
527
527
269
8,058
46,410
8,058
53,607
7,197
11,113
Resourtes expended:
Fundraising
Charitable attivities
Governance
Total expenditure
799
799
998
12,398
3,068
16,265
22,266
750
34,664
3.818
39,281
17,391
869
23,016
19,258
Net
income/lexpenditure}
Exchange gains/llossesl
Net movement in
fund5
19,068)
17401
23,394
810
14,326
70
{8,1451
14741
19,8081
24,204
14,396
(8,6191
Total funds brought
forward
Total funds carried
forward
li
19,184
1,614
20,798
29,417
li
9,376
25.818
35.194
20,798
The Statement of Financial Artivities include5 all gains and10sses recognised in the year. All
income and expenditure derive from continuing activities.
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Balance Sheet as at 30 September 2025
Total
funds
Total
funds
Note
2025
2024
Current assets
Debtors
Cash at bank and in hand
1,235
35,609
36,844
11,6501
35,194
522
21,580
22,102
11,3041
20,798
Creditors- Amounts falling due in one year
Total net assets
io
Charity funds..
Unrestricted funds
Restricted funds
Total funds
9,376
25,818
35,194
19,184
1,614
20,798
li
For the financial year ended 30 September 2025, the Charity was entitled to exemption from
audit under section 477 of the Companies Act 2006 relating to small companies.
The Members have not required the Charity to obtain an audit of its accounts for the year in
question in accordance with section 476.
The Trustees acknowledge thelr responsibilities for complying with the requirements of the
Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small
companies subject to the small companies, regirne and in accordance with FRS102 SORP.
Approved by the Board of Trustees on 16 June 2026 and signed on its behalf by-
Savina Geeri
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Notes to the accounts
l. Accounting polScies
1.1 Basis of preparation of the financial statements
The Charity is a charitable company limited by guarantee registered in England & Wales.
The financial statements have been prepared in accordance with Accounting and Reporting
by Charities: Statement of Recommended Prartice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 I'charities 50RP FRS 102.1, The Financial Reporting Standard
applicable in the UK and Republic of Ireland I'FRS 102,1 and the Companies Act 2006 and
Charities Att 2011.
The financial statements have been prepared on a going concern basis as the charit¢s
expected income and expenditure forecast for the next year show that the charity should be
able to meet its liabilities as they fall due.
The charity meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy notes.
The Trustee5 do not consider that there are any sources of estimation uncertainty at the
reporting date that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next reporting period.
1.2 Fund Accounting
General funds are unrestricted funds which are Zvailable for use at the discretion of the
Trustees in furtherance of the general objettives of the Charity and which have not been
designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions
imposed by donors or raised by the Charity for particular purposes. Transfers between funds
are made when agreed with the donor of the funds. The cost of raising and managing such
funds 15 charged against the specific fund when permitted by the donorfs restrictions. The
aim and use of each restricted fund are set out in the notes to the financial statements.
1.3 Income
All income is recognised once the Charity has entitlement to the income, any performance
conditions attached to the income have been met, it is probable that the income will be
received and the amount of income receivable can be measured reliably.
Revenue grants are recognised on a receivable basis. The balance of income received for
specific purposes but not expended during the period is shown in the relevant funds on the
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
Balance Sheet. Where income 15 received in advance of entitlement of receipt, its
recognition is deferred and included in creditors a5 deferred income. Where entitlement
occurs before income is received, the income is accrued.
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the Charity, this is normally upon notification of the interest paid or
payable by the bank.
1.4 Expenditure
Expenditure is recognised on an accruals basis at the point when a leg21 or constructive
obligation arise5, It is probable that settlement will be required, and the amount of the
obligation can be measured reliably.
Expenditure on charitable activities is incurred on dirertly undertaking the activities which
further the Charity's objectives, as well as any a550ciated support costs.
1.5 Taxation
The Charity is exempt from Corporation Tax as all of its income is charitable and is applied
for charitable purposes.
The Charity is not registered for VAT and cannot therefore recover VAT on cost5 incurred.
Expenditure is therefore shown gross of any relevant VAT in these financial statements.
1.6 Foreign currency
Transactions in CFA in Senegal are converted at the rate achieved on transfers of funds from
the UK based bank accounts and balances held in CFA at the year-end are translated using
the rate achieved on the last transfer in the year. Transartions in Euros are converted at the
daily rate provided by XE.com and balances held in Euros at the year-end are converted at
the rate of exchange prevailing at the balance sheet date.
Exchange rate differences are taken into account in arriving at the net movement in funds
for the year.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount
offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term liquid investments with a maturity of
three months or less from the date of acquisition or opening of the deposit or similar
account.
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of
a past event, it is probable that a transfer of economic benefit.will be required in
settlement, and the amount of the settlement can be estimated reliably. Liabilities are
recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it ha5 received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the
obligation.
2. Detailed comparatives for the statement of financial activities
Total
funds
2024
Unrestricted
funds
Restricted
funds
Note
Income from:
Donations
Grants received
Merchandise
Interest received
Total income
9.744
9,744
1,045
55
1,045
55
269
269
10,068
1,045
11,113
Resources expended:
Fundraising
Charitable activities
Governance
998
998
3,516
869
13,875
17,391
869
Total èxpenditure
5,383
13,875
19,258
Net income/{expenditure)
Exchange gainslllossesl
Net movement in funds
4,685
14741
4,211
112,830)
18,1451
14741
(8,6191
112,830}
Total funds brought forward
Total funds carried forward
14,973
19,184
14,444
1,614
29,417
20,798
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Aspyre Africa
Annual Report and Financial Statements forthe year ended 30 September 2025
3. Fundraising expenditure
Fundraising expenditure comprises online giving fees, website costs and fundraising
consultant support.
4. Expenditure on charitable activities
Unrestritted
funds
Restricted
funds
Total
funds
Current year
Project staff (note 121
Transport & Comms
Support to beneficiarie5
Workshops
Baseline & impact surveys
Other project costs
Project implementation and M&E Vi5￿t5
UK programmes consultancy
Bank charges
Total expenditure on charitable activities
6,356
487
6,280
2,635
3,057
4,759
734
12,636
3,122
5,823
4,759
734
2,766
592
417
1,009
3,49Z
2,800
289
2,047
1,445
2,800
139
150
12,398
22,266
34,664
Unrestricted
funds
Restricted
Total
funds
Prior year
funds
Project staff (note 121
Transport & ComTns
Support to beneficiaries
Other project costs
Project implementation and M&E visits
Bank charges
Total expenditure on charitable artivities
10,411
1,922
1,002
303
10,411
1,922
1,002
303
3,516
3,516
237
237
3,516
13,875
17,391
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
5. Governance
Unrestricted
funds
Restricted
fund5
Total
funds
Current year
Accountancy
Independent examination
Legal fees
Other governance costs
Total governance costs
1,756
750
2,506
842
401
69
401
69
3,068
750
3,818
Unrestrirted
funds
Restritted
Total
fund5
Prior year
funds
Independent examination
Other governance costs
Total governance costs
800
800
69
69
869
869
Governance costs include fees paid to the Charity'5 Independent Examiner for the
independent examination of these financial statements12024-25: £850; 2023-24- £8001. No
other fees were paid to them.
6. Trustee remuneration & related party transactions
No remuneration was paid to Trustees in either year for their work in that role. One trustee
received £4,352 for travel & subsistence expenses and project expenses incurred when
making management and monitoring visits to the projects in Senegal12023-24.' £3,516).
A consultancy agreement was entered into with one trustee in accordance with the
Charitvs governing document to provide 24 days consultancy to manage the project in
Dakar overthe period May 2025 to March 2026. The trustee received £2,800 for those
services in the period12023-24: £nill. The arrangement was approved by the Board of
Trustees, with the relevant trustee not participating in the decision-making process, and is
considered to be on an arm's length basis.
There were no other transactions in either year with Trustees or other related parties that
require disclosure.
A total of £23412023-24'. £4361 was donated by Trustees and their close families.
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
7. Debtors
2025
Z024
Prepayments and accrued income
1,235
1,235
522
522
8. Cash at bank and in hand
2025
2024
Short term deposits
Cash at bank
7,136
28,473
35,609
14,197
7,383
21,580
9. Creditors: amounts falling due within one year
2025
2024
Accruals
1.650
1.650
1,304
1,304
10. Analysis of net assets
Unrestrirted Restricted
funds
funds
Total
funds
Current year
Current assets
Current liabilities
10,226
18501
9,376
26,618
18001
25.818
36,844
{1,650)
35,194
Unrestrirted Restricted
funds
funds
Total
funds
Prior year
Current assets
Current liabilities
20,488
11,3041
19,184
1,614
22,102
11,304
20,798
1,614
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Aspyre Africa
Annual Report and Financial Statements for the year ended 30 September 2025
11. Analysis of net movement in funds
Funds at
01/10/2024
Funds at
Expenditure 3010912025
Income
Restrictedfund5.'
Dakar project
Global Giving projert
Saint Louis
Vocational training
baseline survey
38,352
121,8401
15691
690
16,512
569
8,058
8,748
1,045
1,614
19,184
20,798
14871
122,2061
117,0051
(39,2111
558
25,818
9,376
35,194
46,410
7,197
53,607
Unrestricted funds
Total funds
Funds at
0111012023
Funds at
Expenditure 30/09/2024
Prior year
Incorne
Restrirtedfunds..
Global Giving project
Vocational training
baseline survey
14,444
(13,8751
569
1,045
1,045
10,068
11,113
1,045
1,614
19,184
20,798
14,444
14,973
29,417
113,8751
15,8571
119,7321
Unrestricted funds
Total funds
Purp05es of restricted funds:
Restrirted funds:
Dakar project
Global Giving project
Saint Louis
Funds given for work in Dakar
Funds given via Global Giving for work in Senegal
Funds received to help support Saint Louis based
beneficiaries in establishing their trade or first employment
Funds given to undertake a baseline survey in Saint-Louis,
Senegal
Vocational training
baseline survey
12. Staff costs
No staff were employed in the UK in either period. Project staff in the UK and Senegal are
engaged on a consultancy basis under short-term contratts.
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