Charity No 1168251 ## **AFRICAN CHILDREN EMPOWERMENT** ## **TRUSTEES REPORT AND FINANCIAL STATEMENTS** **For the year ended 31st January 2024** 1 ## **AFRICAN CHILDREN EMPOWERMENT** Statement of Financial Activities (including Income and Expenditure Accounts) For the year ended31st January 2024. |CONTENTS|2| |---|---| |Legal and administrative information|3| |Trustee's report|3 - 5.| |Independent Examiner’s Report|8| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes forming part of the financial statements|9-14.| |_The following pages do not form part of the statutory accounts_|| |Detailed income and expenditure account|15| 2 ## **AFRICAN CHILDREN EMPOWERMENT LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31st January 2024** Trustees 1 Mr Solomon Akaka 2 Mr Obi Anumba 3 Mr Michael Ndukwe Charity No 1168251 Registered Office 38 Roland Crescent Solihull B91 2JF Chair Mr Solomon Akaka Accountants Jecom & Co Incorporated Financial Accountants (IFA) 276 Monument Road Edgbaston Birmingham B16 8XF Bankers 3 ## **AFRICAN CHILDREN EMPOWERMENT** ## **Trustee's report For the year ended 31st January 2024** ## The Board of Trustees submit their annual report and the financial statements of African children empowerment for the year ended 31st January 2024. The Board of Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirement of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities issued in October 2000. ## **Method of appointment or election of Trustees** The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution. ## **Constitution policies and objectives** African children empowerment is a registered charity. The principle object of the Charity is to organise children services, community services, mentoring and advice nursery and teaching of children, adult and youth There have been no changes in the objectives since the last annual report. ## **Organizational structure and decision making** The organization of the Charity is controlled by the members of the Board of Trustees. ## Review of activities During the year the Charity received a total of £1,890 from donations and other sources. The financial results for the year are shown in the annexed accounts ## Reserves policy It is the policy of the Trustees to work towards holding the minimum reserves necessary to enable the Charity to meet its commitments for a minimum period of three months. 4 ## AFRICAN CHILDREN EMPOWERMENT **Trustees'S REPORT For the year ended 31st January 2024.** ## **Trustees's responsibilities** Charity law applicable to charities in England/Wales requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for the period. In preparing those financial statements the Trustees have - selected suitable accounting policies and applied them consistently, - * made judgments and estimates that are reasonable and prudent, - stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and - prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Trust will continue in operation). The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. These account has been delivered in accordance with the provisions applicable to chariries subject to the small companies regime. The report was approved by the Trustees on 20th November 2024 and signed on its behalf b Mr Solomon Akaka Chairman ## **AFRICAN CHILDREN EMPOWERMENT** **Independent Examiner’s Report to the trustees of African children empowerme For the year ended 31st January 2024.** 5 I report on the accounts for the year ended 31st January 2024 which are set out on pages 6 to 14 Respective responsibilities of trustees and examiner The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the charity Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to: Examine the accounts (under section 43 of the Act), to follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the Act), and to state whether particular matters have come to my attention. ## **Basis of Independent examiner’s report** My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In the course of my examination, no matter has come to my attention: ## 1. Which gives me reasonable cause to believe that in, any material respect, the requiremen to keep accounting records in accordance with section 41 of the Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act; have not been met; or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. J. Okundaye AFA FFTA FIAB Jecom & Co Incorporated Financial Accountants 276 Monument Road Edgbaston Birningham B16 8XF AFRICAN CHILDREN EMPOWERMENT **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st January 2024.** **Total** Total **Restricted Unrestricted** 6 |**Note**
**INCOMING RESOURCES**
Donations legacies and similar incoming
resources
2
**RESOURCES EXPENDED**
**Charitable expenditure:**
Cost of activities in furtherance of the
charity's objects
Support costs for grants and activities
3
Resources expended on managing and
administering the charity
4
**TOTAL RESOURCES EXPENDED**
5
**IN TOTAL FUNDS FOR THE**
**YEAR - NET INCOME/(EXPENDITURE)**
**FOR THE YEAR**
TOTAL FUNDS AT 1 October 2023
**TOTAL FUNDS AT 31st January 2024**|**Funds**
**Funds**
**Funds**
Funds
**2024**
**2024**
**2024**
**2023**
£
£
£
£
1890
1890
592| |---|---| ||1,890
1,890
592| ||832
832
433
683
683| ||1,515
1515
433| ||375
375| ||375
375
159| The Statement of Financial Activities includes all gains and losses recognized in the year The notes on page 10 to 15 form part of these financial statements ## AFRICAN CHILDREN EMPOWERMENT **BALANCE Sheet As at 31st January 2024.** |FIXED ASSETS
Note
Tangible fixed assets
8
CURRENT ASSETS
Debtors
9
Cash at Bank and in Hand
60
60|2024
£
-240|2023| |---|---|---| |||£| 7 CREDITORS - Amount falling due 10 within one year NET CURRENT ASSETS 60 NET ASSETS 12 -180 CHARITY FUNDS Restricted Funds 11 Unrestricted Funds 11 The Trustees have:- - a] “For the year ending 31st January 2024 the charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006 . - **b]** The members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006. - **c]** The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting periods and preparation of the accounts. The financial statements were approved by the Trustees on the 20th November 2024 And are signed on their behalf by: ## Apostle Edobor Okundaye ## **Chair** The notes on pages 10 - 15 form part of these financial statements ## AFRICAN CHILDREN EMPOWERMENT ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2024.** ## 1 ACCOUNTING POLICIES - 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP). "Accounting and Reporting by Charities" published in October 2000, 1.2 Charity Status 8 The members of the charity are the trustees named on page 1 in the event of the Charity being wound up. ## 1.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## 1.4 **Incoming resources** All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind donated for distribution are included at valuation and recognized as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in this financial statements for services donated by volunteers. ## **AFRICAN CHILDREN EMPOWERMENT** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2024.** Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognized where there is no financial cost borne by a third party. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of the donation. ## 1.5 Resources expended All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. 9 Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Management and administration costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. ## 1.6 Cash flow The financial statements do not include a cash flow statement because the charitable charity, as a small reporting entity is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective June 2002). ## 1.7 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives on the following basis: |Motor Vehicle
|-|25% Straight line| |---|---|---| |Furnitures and Fixtures|-|25% Straight line| |Office Equipment
|-|25% Straight line| ## **AFRICAN CHILDREN EMPOWERMENT** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2024.** - 2 DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES |**RestrictedUnrestricted**|**RestrictedUnrestricted**|**Total**|Total| |---|---|---|---| |**Funds**|**Funds**|**Funds**|Funds| |**2024**|**2024**|**2024**|2023| |£|£|£|£| Grants Government grants - 3 SUPPORT COSTS FOR GRANTS AND ACTIVITIES |Restricted|Unrestricted|**Total**|Total| |---|---|---|---| |**Funds**|**Funds**|**Funds**|Funds| |**2024**|**2024**|**2024**|2023| |£|£|£|£| Printing postage & stationary 10 |Substriction
Light & Heat
Bank charges
Property rent
Consultancy
Toiletories & first aid
Charity
Insurance
Advertisement
Travel and subsistence
Repairs & maintenance
Functions
Total|755
755
433
77
77| |---|---| ||832
832
433| ## **AFRICAN CHILDREN EMPOWERMENT NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2024.** ## 4 RESOURCES EXPENDED ON MANAGING AND ADMINISTERING THE CHARITY |||**RestrictedUnrestricted**|**RestrictedUnrestricted**|**Total**|Total| |---|---|---|---|---|---| |||**Funds**|**Funds**|**Funds**|Funds| |||**2024**|**2024**|**2024**|2023| |||£|£|£|£| ||Sundries||||| ||Audit & Accountancy fees||350|350|| ||Professional fees||||| ||Telephone||93|93|| ||Depreciation - motor vehicles||||| ||Depreciation - office equipment||125|125|| ||Depreciation - fixtures & fittings||115|115|| ||Total||683|683|| |5|ANALYSIS OF RESOURCES EXPENDED BY||EXPENDITURE TYPE||| Staff Costs Depreciation Other Costs Total Total **2024 2024 2024 2024** 2023 £ £ £ £ £ Voluntary Expenses Support costs for grants and activities 832 832 11 Resources expended on managing and administering the charity 240 683 923 Total Resources Expended 240 1515 1755 |6|NET INCOMING RESOURCES/(RESOURCES EXPENDED)||| |---|---|---|---| |||Total|Total| |||**2024**|2023| ||This is stated after charging|£|£| ||Depreciation of tangible fixed assets||| ||owned by the charity|240|| ||Audit & Accountancy fees|350|| ||Professional fees||| |||590|| **AFRICAN CHILDREN EMPOWERMENT NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2024.** During the year no Trustees received any remuneration (2024 - £NIL) During the year no Trustees received any benefit in kind (2024 - £NIL) During the year no Trustees received any reimbursement of expenses (2023 - £NIL) |7|STAFF COSTS AND NUMBERS||| |---|---|---|---| ||Staff costs were as follows|**2024**|2023| |||£|£| ||Voluntary Expenses||| ||**The average monthly number of employees during the year was as follows**||| |||**2024**|2023| ## Administrative ||No employee received remuneration amounting to more than £50000 in either year|No employee received remuneration amounting to more than £50000 in either year|No employee received remuneration amounting to more than £50000 in either year|No employee received remuneration amounting to more than £50000 in either year|No employee received remuneration amounting to more than £50000 in either year| |---|---|---|---|---|---| |8|TANGIBLE FIXED ASSETS|Motor EquipmentFixtures &|||Total| |||Vehicles||Fittings|| |||£|£|£|£| ||Cost||||| ||At 1 October 2023||500|460|| ||Church van written off||||| ||Addition in year||||| ||||500|460|| 12 |**Depreciation**
At 1 October 2023
Charge for the year
At 31st January 2024
**Net book value**
At 31st January 2024
At 31st January 2023
9**DEBTORS**
Due within one year
Debtors
Cash in hand and at bank|| |---|---| ||125
115
240| ||125
115
240| ||375
345
-240| ||500
460| ||**2024**
2023
£
£| ## AFRICAN CHILDREN EMPOWERMENT **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2024.** |10|**CREDITORS**|**2024**|2023| |---|---|---|---| ||Amount falling due within one year|£
|£| ||Bank Loan and overdrafts||| ||Accruals||| ||Tax & National Insurance Contribution||| ## 11 **STATEMENT OF FUNDS** |
**UNRESTRICTED FUNDS**
General Funds
General Fund 1
Subtotal
**RESTRICTED FUNDS**
Restricted Funds
**SUMMARY OF FUNDS**
General Funds
Restricted Funds
Total of Funds|Brought
IncomingResourcesCarried
Forward
ResourcesExpended Forward
£
£
£
£| |---|---| ||1890
1515
375| ||| ||1890
1515
375| ||| ||| ||£
£
£
£
1890
1515
375| ||1890
1515
375| ## 12 **ANALYSIS OF NET ASSETS BETWEEN FUNDS** Restricted Unrestricted Total Total 13 |Tangible fixed assets
Debtors due after more than 1 year
Current assets
Creditors due within one year
Total|Funds
Funds
Funds
Funds
**2024**
**2024**
**2024**
2023
£
£
£
£
60
60| |---|---| ||60
60| ## AFRICAN CHILDREN EMPOWERMENT DETAILED INCOME AND EXPENDITURE ACCOUNT For the year ended 31st January 2024 |For the year ended 31st January 2024|||||||| |---|---|---|---|---|---|---|---| ||Fund||||||| |31st January||2024|
31st January||2023||| |**INCOME**|£|||£|||| |Thithes and offerings|||||||``| |Gift aid|||||||| |Building Appeal Funds|||||||| |Voluntary Donations|||||||| |Income from community Activities||1890|||592||| |||1890|1890||592|592|| |**LESS : EXPENDITURE**|||||||| |Property rent and rate|||||||| |Light & Heat|||||||| |Printing, Postage & Stationery|||||||| |Building Services and maintainance|||||||| |Subscription|||||||| |Charity|||||||| |Insurance||-|||||| |Toiletories and first aid|||||||| |Travel and subsistence||755|||433||| |Telephone & Fax||93|||||| |Professional fees|||||||| |Audit & Accountancy fees||350|||||| |Sundries|||||||| |Functions||77|||||| |Bank Charges|||||||| |Depreciation - motor vehicles|||||||| |Depreciation - office equipment||125|||||| |Depreciation - Fixtures and fittings||115|||||| |TOTAL EXPENDITURE|||1515|`||433|| |NET INCOME FOR THE YEAR||£|375||£|159|| 14 Int 17 profit balance 375 375 19 -180 -180 20 total expenditures 2024 2023 21 683 22 1515 240 6631 7314 total 23 14991.62 14991.62 240 216 25 accountancy fees 27 Charity No 1168251 ## **AFRICAN CHILDREN EMPOWERMENT** ## **TRUSTEES REPORT AND FINANCIAL STATEMENTS** **For the year ended 31st January 2021** 32 ## **AFRICAN CHILDREN EMPOWERMENT** Statement of Financial Activities (including Income and Expenditure Accounts) For the year ended31st January 2021. |CONTENTS|2| |---|---| |Legal and administrative information|3| |Trustee's report|3 - 5.| |Independent Examiner’s Report|8| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes forming part of the financial statements|9-14.| |_The following pages do not form part of the statutory accounts_|| |Detailed income and expenditure account|15| 33 ## **AFRICAN CHILDREN EMPOWERMENT LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31st January 2021** Trustees 1 Mr Solomon Akaka 2 Mr Obi Anumba 3 Mr Michael Ndukwe Charity No 1168251 Registered Office Flat 8 Elmbank Court 291 Yardley Green Road B9 5QA Chair Mr Solomon Akaka Accountants Jecom & Co Incorporated Financial Accountants (IFA) 276 Monument Road Edgbaston Birmingham B16 8XF Bankers 34 ## **AFRICAN CHILDREN EMPOWERMENT** ## **Trustee's report For the year ended 31st January 2021** ## The Board of Trustees submit their annual report and the financial statements of African children empowerment for the year ended 31st January 2021. The Board of Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirement of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities issued in October 2000. ## **Method of appointment or election of Trustees** The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution. ## **Constitution policies and objectives** African children empowerment is a registered charity. The principle object of the Charity is to organise children services, community services, mentoring and advice nursery and teaching of children, adult and youth There have been no changes in the objectives since the last annual report. ## **Organizational structure and decision making** The organization of the Charity is controlled by the members of the Board of Trustees. ## Review of activities During the year the Charity received a total of £996 from donations and other sources. The financial results for the year are shown in the annexed accounts ## Reserves policy It is the policy of the Trustees to work towards holding the minimum reserves necessary to enable the Charity to meet its commitments for a minimum period of three months. 35 ## AFRICAN CHILDREN EMPOWERMENT **Trustees'S REPORT For the year ended 31st January 2021.** ## **Trustees's responsibilities** Charity law applicable to charities in England/Wales requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for the period. In preparing those financial statements the Trustees have - selected suitable accounting policies and applied them consistently, - * made judgments and estimates that are reasonable and prudent, - stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and - prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Trust will continue in operation). The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. These account has been delivered in accordance with the provisions applicable to chariries subject to the small companies regime. The report was approved by the Trustees on 20th November 2021 and signed on its behalf b Mr Solomon Akaka Chairman ## **AFRICAN CHILDREN EMPOWERMENT** **Independent Examiner’s Report to the trustees of African children empowerme For the year ended 31st January 2021.** 36 I report on the accounts for the year ended 31st January 2021 which are set out on pages 6 to 14 Respective responsibilities of trustees and examiner The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the charity Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to: Examine the accounts (under section 43 of the Act), to follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the Act), and to state whether particular matters have come to my attention. ## **Basis of Independent examiner’s report** My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In the course of my examination, no matter has come to my attention: ## 1. Which gives me reasonable cause to believe that in, any material respect, the requiremen to keep accounting records in accordance with section 41 of the Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act; have not been met; or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. J. Okundaye AFA FFTA FIAB Jecom & Co Incorporated Financial Accountants 276 Monument Road Edgbaston Birningham B16 8XF AFRICAN CHILDREN EMPOWERMENT **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st January 2021.** **Total** Total **Restricted Unrestricted** 37 |**Note**
**INCOMING RESOURCES**
Donations legacies and similar incoming
resources
2
**RESOURCES EXPENDED**
**Charitable expenditure:**
Cost of activities in furtherance of the
charity's objects
Support costs for grants and activities
3
Resources expended on managing and
administering the charity
4
**TOTAL RESOURCES EXPENDED**
5
**IN TOTAL FUNDS FOR THE**
**YEAR - NET INCOME/(EXPENDITURE)**
**FOR THE YEAR**
TOTAL FUNDS AT 1 October 2020
**TOTAL FUNDS AT 31st January 2021**|**Funds**
**Funds**
**Funds**
Funds
**2021**
**2021**
**2021**
**2020**
£
£
£
£
996
996
592| |---|---| ||996
996
592| ||767
767
433
175
175| ||942
942
433| ||54
54| ||54
54
159| The Statement of Financial Activities includes all gains and losses recognized in the year The notes on page 10 to 15 form part of these financial statements ## AFRICAN CHILDREN EMPOWERMENT **BALANCE Sheet As at 31st January 2021.** |FIXED ASSETS
Note
Tangible fixed assets
8
CURRENT ASSETS
Debtors
9
Cash at Bank and in Hand
60
60|2021
£|2020| |---|---|---| |||£| 38 CREDITORS - Amount falling due 10 within one year NET CURRENT ASSETS 60 NET ASSETS 12 60 CHARITY FUNDS Restricted Funds 11 Unrestricted Funds 11 The Trustees have:- - a] “For the year ending 31st January 2021 the charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006 . - **b]** The members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006. - **c]** The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting periods and preparation of the accounts. The financial statements were approved by the Trustees on the 20th November 2021 And are signed on their behalf by: ## Apostle Edobor Okundaye ## **Chair** The notes on pages 10 - 15 form part of these financial statements ## AFRICAN CHILDREN EMPOWERMENT ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2021.** ## 1 ACCOUNTING POLICIES - 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP). "Accounting and Reporting by Charities" published in October 2000, 1.2 Charity Status 39 The members of the charity are the trustees named on page 1 in the event of the Charity being wound up. ## 1.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## 1.4 **Incoming resources** All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in kind donated for distribution are included at valuation and recognized as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in this financial statements for services donated by volunteers. ## **AFRICAN CHILDREN EMPOWERMENT** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2021.** Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognized where there is no financial cost borne by a third party. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of the donation. ## 1.5 Resources expended All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. 40 Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Management and administration costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. ## 1.6 Cash flow The financial statements do not include a cash flow statement because the charitable charity, as a small reporting entity is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective June 2002). ## 1.7 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives on the following basis: |Motor Vehicle
|-|25% Straight line| |---|---|---| |Furnitures and Fixtures|-|25% Straight line| |Office Equipment
|-|25% Straight line| ## **AFRICAN CHILDREN EMPOWERMENT** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2021.** - 2 DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES |**RestrictedUnrestricted**|**RestrictedUnrestricted**|**Total**|Total| |---|---|---|---| |**Funds**|**Funds**|**Funds**|Funds| |**2021**|**2021**|**2021**|2020| |£|£|£|£| Grants Government grants - 3 SUPPORT COSTS FOR GRANTS AND ACTIVITIES |Restricted|Unrestricted|**Total**|Total| |---|---|---|---| |**Funds**|**Funds**|**Funds**|Funds| |**2021**|**2021**|**2021**|2020| |£|£|£|£| Printing postage & stationary 41 |Substriction
Light & Heat
Bank charges
Property rent
Consultancy
Toiletories & first aid
Charity
Insurance
Advertisement
Travel and subsistence
Repairs & maintenance
Functions
Total|690
690
433
77
77| |---|---| ||767
767
433| ## **AFRICAN CHILDREN EMPOWERMENT NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2021.** ## 4 RESOURCES EXPENDED ON MANAGING AND ADMINISTERING THE CHARITY |||**RestrictedUnrestricted**|**RestrictedUnrestricted**|**Total**|Total| |---|---|---|---|---|---| |||**Funds**|**Funds**|**Funds**|Funds| |||**2021**|**2021**|**2021**|2020| |||£|£|£|£| ||Sundries||||| ||Audit & Accountancy fees||100|100|| ||Professional fees||||| ||Telephone||75|75|| ||Depreciation - motor vehicles||||| ||Depreciation - office equipment||||| ||Depreciation - fixtures & fittings||||| ||Total||175|175|| |5|ANALYSIS OF RESOURCES EXPENDED BY||EXPENDITURE TYPE||| ||Staff Costs|Depreciation|Other Costs|Total|Total| ||**2021**|**2021**|**2021**|**2021**|2020| ||£|£|£|£|£| |Voluntary|Expenses||||| |Support costs for grants and|||||| |activities|||767|767|| 42 Resources expended on managing and administering the charity 175 175 Total Resources Expended 942 942 |6|NET INCOMING RESOURCES/(RESOURCES EXPENDED)||| |---|---|---|---| |||Total|Total| |||**2021**|2020| ||This is stated after charging|£|£| ||Depreciation of tangible fixed assets||| ||owned by the charity||| ||Audit & Accountancy fees|100|| ||Professional fees||| |||100|| |**AFRICAN CHILDREN EMPOWERMENT**|**AFRICAN CHILDREN EMPOWERMENT**|**AFRICAN CHILDREN EMPOWERMENT**|||||| |---|---|---|---|---|---|---|---| |**NOTES**|**TO THE FINANCIAL STATEMENTS**||||||| |**For the**|**year ended 31st January 2021.**||||||| ||During the year no Trustees received any remuneration|||(2021 - £NIL)|||| ||During the year no Trustees received any benefit in kind (2021 - £NIL)||||||| ||During the year no Trustees received any reimbursement of expenses (2020 - £NIL)||||||| |7|STAFF COSTS AND|NUMBERS|||||| ||Staff costs were as follows||||**2021**|2020|| ||||||£|£|| ||Voluntary Expenses||||||| ||**The average monthly number of employees during the**||||**year was as follows**||| ||||||**2021**|2020|| ||Administrative||||||| ||No employee received remuneration amounting to more|||than £50000 in either year|||| |8|TANGIBLE FIXED ASSETS||Motor EquipmentFixtures &|||Total|| ||||Vehicles||Fittings||| ||||£
|£|£
|£|| ||Cost||||||| ||At 1 October 2020||||||| ||Church van written|off|||||| ||Addition in year||||||| ||||||||| 43 **Depreciation** At 1 October 2020 Charge for the year At 31st January 2021 **Net book value** At 31st January 2021 At 31st January 2020 9 **DEBTORS 2021** 2020 Due within one year £ £ Debtors Cash in hand and at bank ## AFRICAN CHILDREN EMPOWERMENT **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st January 2021.** 10 **CREDITORS 2021** 2020 Amount falling due within one year £ £ Bank Loan and overdrafts Accruals Tax & National Insurance Contribution ## 11 **STATEMENT OF FUNDS** |
**UNRESTRICTED FUNDS**
General Funds
General Fund 1
Subtotal
**RESTRICTED FUNDS**
Restricted Funds
**SUMMARY OF FUNDS**
General Funds
Restricted Funds
Total of Funds|Brought
IncomingResourcesCarried
Forward
ResourcesExpended Forward
£
£
£
£| |---|---| ||996
942| ||| ||996
942| ||| ||| ||£
£
£
£
996
942| ||996
942| ## 12 **ANALYSIS OF NET ASSETS BETWEEN FUNDS** Restricted Unrestricted Total Total 44 |Tangible fixed assets
Debtors due after more than 1 year
Current assets
Creditors due within one year
Total|Funds
Funds
Funds
Funds
**2021**
**2021**
**2021**
2020
£
£
£
£
60
60| |---|---| ||60
60| ## AFRICAN CHILDREN EMPOWERMENT DETAILED INCOME AND EXPENDITURE ACCOUNT For the year ended 31st January 2021 |For the year ended 31st January 2021||||||| |---|---|---|---|---|---|---| ||Fund|||||| |31st January 2021||
31st January||2020||| |**INCOME**|£||£|||| |Thithes and offerings||||||``| |Gift aid||||||| |Building Appeal Funds||||||| |Voluntary Donations||||||| |Income from community Activities|996|||592||| ||996|996||592|592|| |**LESS : EXPENDITURE**||||||| |Property rent and rate||||||| |Light & Heat||||||| |Printing, Postage & Stationery||||||| |Building Services and maintainance||||||| |Subscription||||||| |Charity||||||| |Insurance|-|||||| |Toiletories and first aid||||||| |Travel and subsistence|690|||433||| |Telephone & Fax|75|||||| |Professional fees||||||| |Audit & Accountancy fees|100|||||| |Sundries||||||| |Functions|77|||||| |Bank Charges||||||| |Depreciation - motor vehicles||||||| |Depreciation - office equipment||||||| |Depreciation - Fixtures and fittings||||||| |TOTAL EXPENDITURE||942|`||433|| |NET INCOME FOR THE YEAR|£|54||£|159|| 45 Int 48 profit balance 54 54 50 total expenditures 2021 2020 52 175 53 942 6631 6806 total 54 14991.62 14991.62 -105 56 accountancy fees 58