2021-08-31-accounts - Mojatu Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Mojatu Foundation

Charity No. 1167557

Trustees' Report and Unaudited Accounts

31 August 2021

Mojatu Foundation Contents

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 to 10
Detailed Statement of Financial Activities	11 to 13

Page 1

Mojatu Foundation Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 August 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1167557

Principal Office

Howitt Building Lenton Boulevard Nottingham NG7 2BY

Trustees

The following trustees served during the year:

P. Cooper

E. Kabando

B.B. Koumbu

W. Mugo D. Nhidza

Accountants

WKM Accountancy Services Castledine House 5 Heanor Road Ilkeston DE7 8DY

Bankers

The Co-operative Bank Plc Business Direct P O Box 250 Skelmersdale WN8 6WT

OBJECTIVES AND ACTIVITIES

The objects of the Mojatu Foundation are: Develop the capacity and skills of socially and economically disadvantaged groups in particular but not exclusively women, girls and young people of African and Caribbean communities in such a way that they are better able to identify, help and meet their needs and to participate more fully in the society by: a. helping to eliminate discrimination on the grounds of race, gender, disability, sexual orientation or religion.

b. Advancing education and enhancing skills through training, mentoring and other processes.
c. Raising awareness in equality and diversity.
d. Promoting activities to foster understanding between people from diverse backgrounds
e. Conducting Research on Equality and Diversity issues and publishing the results to the public and
f. Helping to raise awareness about the human rights of individuals especially among women, children and people living with disabilities

Page 2

Mojatu Foundation Trustees Annual Report

The trustees believe that the services that are offered to the public by Mojatu Foundation make available access to all as a community and as such believe that the charity is of benefit to the whole community. The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

FINANCIAL REVIEW

The foundation has had a considerable success in securing funding for ongoing and future projects.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mojatu Foundation is a Registered charity [Charitable Incorporated Organisation – CIO] in the UK, registration No. 1167557. It was registered 08 June 2016. We transform communities through media, gender equality, health and training. We develop the capacity and skills of socially and economically disadvantaged and ‘hard-to-reach’ groups, in particular but not exclusively women, girls and young people of African and Caribbean communities, in such a way that they are better able to identify, help and meet their needs and to participate more fully in society

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

P. Cooper Trustee 06 October 2022

Page 3

Mojatu Foundation Independent Examiners Report

Independent Examiner's Report to the trustees of Mojatu Foundation

I report to the trustees on my examination of the financial statements of Mojatu Foundation for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mariah Tompkins FMAAT WKM Accountancy Services Castledine House 5 Heanor Road Ilkeston

DE7 8DY 06 October 2022

Page 4

Mojatu Foundation Statement of Financial Activities

for the year ended 31 August 2021

Unrestricted funds	Restricted funds	Total funds	Total funds
2021	2021	2021	2020
£	£	£	£

2,635	-	2,635	300
24,891	207,083	231,974	194,559
27,526	207,083	234,609	194,859

2,515	54,735	57,250	26,228
44,646	145,123	189,769	140,918
47,161	199,858	247,019	167,146
-	-	-	-
(19,635)	7,225	(12,410)	27,713
-	-	-	-
(19,635)	7,225	(12,410)	27,713

(19,635)	7,225	(12,410)	27,713

23,009	9,946	32,955	5,242
3,374	17,171	20,545	32,955

Page 5

Mojatu Foundation Balance Sheet

at 31 August 2021

Charity No. 1167557 Current assets Debtors 8 Cash at bank and in hand Creditors:Amount falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 10 Restricted income funds Unrestricted funds 10 General funds Reserves 10 Total funds	2021 £ 23,631 26,663 50,294 (29,749) 20,545 20,545 20,545 20,545 17,171 17,171 3,374 3,374 20,545	2020 £ 11,545 31,888
		43,433 (10,478)
		32,955 32,955
		32,955
		32,955
		9,946
		9,946 23,009
		23,009
		32,955

Approved by the trustees on 06 October 2022

And signed on their behalf by:

P. Cooper Trustee 06 October 2022

Page 6

Mojatu Foundation Notes to the Accounts

for the year ended 31 August 2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Mojatu Foundation Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Mojatu Foundation Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Mojatu Foundation

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Charitable activities Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from charitable activities Charitable activities 4 Other income Covid Grants Commissioning - Research & Training Grants	Unrestricted £ - - 24,891 24,891	Unrestricted funds 2020 £ 300 64,391 64,691 23,749 38,679 62,428 2,263 2,263 2,263 5,242 7,505 Unrestricted £ 2,635 2,635 Restricted £ - 36,514 170,569 207,083	Restricted funds 2020 £ - 130,168 130,168 2,479 102,237 104,716 25,452 25,452 25,452 - 25,452 Total 2021 £ 2,635 2,635 Total 2021 £ - 36,514 195,460 231,974	Total funds 2020 £ 300 194,559
				194,859 26,228 140,916
				167,144
				27,715
				27,715
				27,715 5,242
				32,957
				Total 2020 £ 300
				300
				Total 2020 £ 15,082 28,022 151,455
				194,559

Page 10

Mojatu Foundation Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable activities Charitable activities Governance costs 6 Other expenditure Subcontractor Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs 7 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess 8 Debtors Other debtors 9 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors Accruals	Unrestricted £ - 1,850 665 2,515 Unrestricted £ 4,220 12,337 120 10,273 13,585 4,111 44,646 of £60,000.	Restricted £ 16,852 32,473 5,410 54,735 Restricted £ 56,060 74,688 - 7,800 4,560 2,015 145,123 2021 68,039 281 1,165 69,485 2021 £ 23,631 23,631 2021 £ 138 17,382 10,579	Total 2021 £ 16,852 34,323 6,075 57,250 Total 2021 £ 60,280 87,025 120 18,073 18,145 6,126 189,769	Total 2020 £ 26,228 - -
				26,228
				Total 2020 £ 51,177 63,761 282 9,866 12,952 2,880
				140,918
				2020 58,638 1,505 1,053
				61,196
				2020 £ 11,545
				11,545
				2020 £ - 8,305 -
		1,650		2,173
		29,749		10,478

Page 11

Mojatu Foundation Notes to the Accounts

10 Movement in funds

Incoming resources (including other gains/losses ) £ 118,628 49,969 38,486 207,083 27,526 234,609 At 1 September 2020 £	Resources expended £ (127,916) (46,232) (25,710) (199,858) (47,161) (247,019) Unrestricted funds £ 20,545 20,545 Cash flows £	At 31 August 2021 £ 658 3,737 12,776
		17,171
		3,374
		20,545
		Total £ 20,545
		20,545
		At 31 August 2021 £
31,888	(5,225)	26,663
31,888 31,888	(5,225) (5,225)	26,663
		26,663

Page 12

Mojatu Foundation Notes to the Accounts

13 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

	2021	2021	2020	2020
	Land and buildings	Other	Land and buildings	Other
	£	£	£	£
Operating leases with expiry date:
*Pension commitments*
		2021		2020
		£		£
The pension cost charge to the charity
amounted to:		1,165		1,053

Page 13

Mojatu Foundation Statement of Cash flows for the year ended 31 August 2021

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Increase in trade and other receivables Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2021 £ (12,410) (231,974) (12,086) 19,271 (237,199) 231,974 231,974 - (5,225) 31,888 26,663	2020 £ 27,715 (194,559) (11,545) 10,478
		(167,911) 194,559
		194,559

		-

		26,648
		-
		26,648

Components of cash and cash equivalents
Cash and bank balances	26,663	31,888

	26,663	31,888

Page 14

Mojatu Foundation Detailed Statement of Financial Activities

for the year ended 31 August 2021

Income and endowments from: Charitable activities Charitable activities Other Covid Grants Commissioning - Research & Training Grants Total income and endowments Expenditure on: Charitable activities Charitable activities Total of expenditure on charitable activities Other expenditure Subcontractor Employee costs Salaries/wages Employer's NIC Pension costs Staff training Motor and travel costs Travel and subsistence Premises costs Rent Rates Light, heat and power Other premises costs General administrative costs, including depreciation and amortisation	Unrestricte d funds 2021 £ 2,635 2,635 - - 24,891 24,891 27,526 - 1,850 665 2,515 2,515 4,220 4,220 7,710 252 65 4,310 12,337 120 120 9,535 297 433 8 10,273	Restricted funds 2021 £ - - - 36,514 170,569 207,083 207,083 16,852 32,473 5,410 54,735 54,735 56,060 56,060 60,329 29 1,100 13,230 74,688 - - 7,800 - - - 7,800	Total funds 2021 £ 2,635 2,635 - 36,514 195,460 231,974 234,609 16,852 34,323 6,075 57,250 57,250 60,280 60,280 68,039 281 1,165 17,540 87,025 120 120 17,335 297 433 8 18,073	Total funds 2020 £ 300
				300
				15,082 28,022 151,455
				194,559
				194,859 26,228 - -
				26,228
				26,228 51,177
				51,177
				58,638 1,505 1,053 2,565
				63,761
				282
				282
				8,910 - 956 -
				9,866

Page 15

Mojatu Foundation

Detailed Statement of Financial Activities

Bank charges General insurances Information and publications Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- 556 10,882 216 1,083 228 620 13,585 4,111 - - 4,111 44,646 47,161 - (19,635) (19,635) - (19,635) 23,009 3,374	- - 4,560 - - - - 4,560 - 2,015 - 2,015 145,123 199,858 - 7,225 7,225 - 7,225 9,946 17,171	- 556 15,442 216 1,083 228 620 18,145 4,111 2,015 - 6,126 189,769 247,019 - (12,410) (12,410) - (12,410) 32,955 20,545	80 - 10,327 2,390 105 50 -
				12,952
				1,140 - 1,740
				2,880

				140,918
				167,146 -
				27,713
				27,713 -
				27,713
				5,242
				32,955

Page 16