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2021-03-31-accounts

MAGAZINE WHARF KIDS TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31[st] MARCH 2022 Charity Number 1169578

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st MARCH 2022

  1. The Trustees present their annual report and financial statements of the charity for the year ended 31[st] March 2022. The financial statements have been prepared by Mrs Jodie Roebuck. The primary purpose of this trustees’ annual report is to ensure that the charity is publicly accountable for the stewardship and management of the funds it holds. It is intended to be a fair, balanced and understandable review of the charity’s structure, legal purposes, objectives, activities, financial performance and financial position.

REFERENCE AND ADMINISTRATIVE DETAILS

2. Trustees:

Mr Charles Herbert (Chair) Mr Sulaiman Kamara Mrs Kate Clay Miss Laura Holt

  1. Charity Address: Mount Pleasant Point, Mount Pleasant, Bishopstone, Wiltshire, SN6 8PN

  2. Charity Number: 1169578

  3. Auditor: Jodie Roebuck, Hawkins House, Alne, York, YO61 1RX

  4. Banker: Barclays Bank, 81 High Street, Stourbidge, West Midlands, DY8 1EB

  5. Other Names : For working purposes, the charity name ‘Magazine Wharf Kids’ is frequently abbreviated to ‘Wharf Kids’.

OUR PURPOSE AND ACTIVITIES

  1. Background and Overview. Magazine Wharf Kids is a registered UK charity, number 1169578, and is constituted under a trust deed dated 17[th] September 2016. The trust was initially founded by the then UK military commander in Sierra Leone during the international response to the Ebola crisis, having seen the significant challenges facing many children affected by Ebola. Many children, especially those from the very disadvantaged residential area of Magazine Wharf, had lost at least one parent and/or other significant family member to the virus. Other children were survivors of Ebola. It was identified by the founder of the charity that many of these children were living in desperate poverty. Some were homeless, others were threatened with homelessness in the future given their financial plight. Few could ever hope to attend school on a regular basis without financial support. Many of the family

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groups supported by Magazine Wharf Kids can be described as broken families; in some cases with a single adult caring for eight or nine children, often from their extended family group. The principal purpose of the organisation, as stated in the trust deeds, is to provide funding to support the education of these children and young people who have been so badly affected by the Ebola crisis. The secondary purpose of the organisation is to provide additional financial support to those same individuals and their wider family members, through grants and awards. Examples include the provision of grants to support living expenses (food and accommodation costs in particular for the most desperate) and in certain cases the provision of grants for medical treatment for our beneficiaries (malaria etc). Grants are also awarded on a regular basis to support housing costs.

  1. The Objects of Magazine Wharf Kids. The three stated objects of the charity are as set out in the Trust Deeds, dated 17[th] September 2016:

(a) To relieve poverty in Freetown, Sierra Leone, with a particular but not exclusive focus on children, young people and adults affected by Ebola, by: (a) making grants; (b) the provision of items such as furniture, bedding, clothing, food, fuel and cooking appliances, as the Trustees see fit.

(b) To advance education in Freetown, Sierra Leone, with a particular but not exclusive focus on children, young people and adults affected by Ebola, by making educational and training grants and bursaries as the Trustees see fit.

(c) The relief of those in need, by reason of youth, age, ill health, disability, financial hardship or other disadvantage in Freetown, Sierra Leone, with a particular but not exclusive focus on individuals, groups and communities disadvantaged as a result of Ebola, by making grants and awards as the Trustees see fit.

  1. Principal Activities. The charity undertakes routinely several overlapping activities in pursuit of the objects stated above. When planning activities for the year, the trustees considered the Commission’s guidance on public benefit and ensured all activities were for the public benefit. Principal activities undertaken this year included:

(a) The provision of educational grants (known within the charity as financial sponsorship) to more than sixty children and young people to fund nursery, primary and secondary education costs (and in exceptional circumstances, tertiary education). The size of the grants is decided annually and is intended to cover all the costs associated with school attendance over the course of the year, with some additional funds provided for books, uniforms, bags and other necessary school items. The children supported by Magazine Wharf Kids are some of the most vulnerable in Western Area, Sierra Leone, with the majority directly affected by the Ebola crisis in 2014-2015.

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(b) The provision of additional livelihood and housing grants to support living expenses and requirements for the children and young people supported by Magazine Wharf Kids, and their immediate families.

(c) The establishment and delivery of an After School Class in the Magazine Wharf area of Freetown, Sierra Leone, to provide additional free numeracy and literacy training and education for nursery and primary school aged children supported by the charity. This nascent initiative is overseen by the in-country coordinator, Mr Samuel Tagba, on behalf of the trustees, and is currently run five afternoons a week in a rented classroom in Magazine Wharf.

Looking ahead, no significant changes are anticipated to future activities.

ACHIEVEMENTS AND PERFORMANCE

  1. From small beginnings in 2015, the charity has achieved much, not least in achieving Charity Commission registration on 10[th] October 2016.

  2. The work of our-country coordinator remained as critical as ever this year, and the Trustees are indebted to him for his tireless efforts in the week-byweek running of the charity in Sierra Leone, oversight of the way in which beneficiaries are selected for support and in measuring progress and performance over time. The aftermath of the COVID pandemic continued to impact on the day-to-day activities of the charity and in the opportunities for fundraising in the UK. This year the charity provided financial support for the full-time education of 73 children and continued to support the tertiary education of three further beneficiaries. It is difficult to state with accuracy how many of these children would be at school without the support of Magazine Wharf Kids, but not unrealistic to suggest that as many as 30% would not have the opportunity without the funding provided by the charity. In all probability, few of the beneficiaries in Magazine Wharf would receive a continuous secondary school education without our support.

  3. The year 2021-22 saw one trustee visits to Sierra Leone by Mr Sulaiman Kamara, who travelled from his military duty base in Canada to Sierra Leone at a cost of £1941. The trustees continue to believe in the importance of at least one trustee assurance visit per annum.

  4. Continued success, especially at WASSCE level, but also at NPSE and BECE level, reinforces the value and effectiveness of the work of the charity. The deteriorating state of the Sierra Leone education system continues to pose challenges, with an increasing importance to focus efforts on the better quality schools only.

STRUCTURE, GOVERNANCE AND MANAGEMENT

  1. Governing Document. Magazine Wharf Kids was registered with the Charity Commissioner on 10[th] October 2016 under charity number 1169578

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and is governed by the Trust Deeds signed on 17[th] September 2016. This governing document sets out the objects and powers of the charity and governs the actions of the trustees.

  1. Appointment of Trustees . There have been no new appointments of trustees this year, but Mrs Kate Herbert stood down at the start of the year. All trustees are very grateful to her for her support to the charity since its inception in 2015. The trust deeds specify a requirement for a minimum of four trustees, with additional trustees appointed by a resolution of the trustees. Eligibility and the procedure for termination of trustees is set out in the trust deeds. On appointment, trustees sign the model trustee declaration statement committing them to giving of their time and expertise. All trustees give their time freely and no trustee remuneration was paid this year.

  2. Risk Management . The major risks to which the charity is exposed have been reviewed with the appropriate systems and procedures put in place to mitigate and manage those risks.

FINANCIAL REVIEW

  1. Narrative. Reduced fundraising opportunities as a result of the COVID pandemic and aftermath resulted in a significantly reduced income this year, with a total of £16,794 (down from £31,409 in 2020-21) raised mainly through a combination of sponsorship and one-off donations. Total expenditure for this year was £24,256 (down from £32,135 in 2020-21). The excess of expenditure over income (£7,462) this year was made possible by reducing reserves.

  2. Reserves Policy . The charity does not have a specific written policy on reserves but aims to maintain routinely a 50% reserve to take into account uncertainties in the fundraising environment. The charity finished this year with an unrestricted reserve of £17,682 (down from £25,144 in 2020-21). This is consistent with the reserve forecast in 2020-21. It is anticipated that reserves will reduce by a further £5,000, or thereabouts, in 2022-23.

  3. The Trustees are grateful to Jodie Roebuck Financial Services for their continued support in preparing the accounts of Magazine Wharf Kids.

EXTRACT FROM THE INDEPENDENT EXAMINERS REPORT

  1. Responsibilities and Basis of the Report. The independent examiner reports to the trustees on her examination of the accounts of the Trust for the year ended 31[st] March 2022. The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the act’”). The independent examiner reports in respect of her examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out her examination, she has followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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  1. Independent Examiner’s Statement (dated January 2023). I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

(a) The accounting records were not kept in accordance with section 130 of the Act; or

(b) The accounts did not accord with the accounting records; or

(c) The accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Records) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not considered as part of an independent examination.

  1. 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.

FOR THE YEAR ENDED 31ST MARCH 2022 SUMMARY INCOME AND EXPENDITURE ACCOUNT

Section A – Receipts and Payments:

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Unrestricted Restricted Total Last
Funds Funds Funds Year
£ £ £ £
Receipts
-
Donations and Fundraising 16,787 16,787 31,385
Bank Account Interest 7 - 7 24
_______
Total Income 16,794 - 16,794
31,409
_______
Payments
Admin Costs 215 - 215 -
Fundraising Costs - - - 73
Grants / Funding Given 24,041 - 24,041 32.062
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Trustee Assurance Visits -
-
-
2,040
__________
Total Expenditure 24,256
-
24,256
32,135
________
Asset & Investment Purchases
Asset Purchase 0
-
0
0
___________
Total Payments 24,256
-
24,256
32,135
___________
___________
Net of Receipts 7,462
-
7,462
726
___________
Transfers between funds -
-
-
-
Cash funds last year end 25,144
-
25,144
-
___________
Cash funds this year end 17,682
-
17,682
726
___________
Section B– Statement of Assets and Liabilities at the end of the period:
Categories Details
UnrestrictedRestricted Endowment
Funds (£)
Funds (£)
Funds (£)
B1 - Cash funds Barclays Account
1,869
-
-
First Direct Account
15,813
____________
Total Cash Funds
17,682
____________
B2 - Other monetary assets -
-
-
-
B3 - Investment assets -
-
-
-
B4 – Assets retained for -
-
-
-
The charity’s own use
B5 – Liabilities -
-
-
-

EXEMPTIONS FROM DISCLOSURE

  1. There are no exemptions from disclosure.

FUNDS HELD AS CUSTODIAN TRUSTEE ON BEHALF OF OTHERS

  1. Nil. Not applicable.

DECLARATION

The Trustees declare that they have approved the trustee’s report above.

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Signature: Signature: Charles Leonard Gordon Herbert Sulaiman Kamara Chairman / Trustee Trustee Dated: January 2023 Dated: January 2023

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CHARITY COMMI5510N FOR ENGLAND ANO WAIES Ma9azlne Wharf Kld¥ 1169578 Receipts and payments accounts CC16a For the perlod from 0110412021 31102r2022 To Section A Receipts and payments Unrestricted fund Restrlcted lunds Endowment funds Totsl funds Last year to the n•Jr•st to th• nx•t E to (hè M4r•st£ to th• no•rMI É lo thu DMr••t£ A1 Ro¢el Uonalionsl FundT*$ltI Inièrèsl 18,7B7 1¢n7 31,3IS 24 ross incomè AR) set an 1$¥g tsblel. nvestment salts, Totsl rereipts 16.794 A3Pa ¢nlS Admin ExpÈns6$ Fundraising Costs GranL5 1 215 21 73 32,062 24,Q41 Sub total 32.135 A4 As$?t and Inv•$lment urcha585 see tablg Sub total 24356 32.13S Net ofrecw"pts/(paymgnts) A5 Transfers b¢tween funds A6 Cash funds last year end Cash fvnds thi5 year end 17,68 17,682 726 CCXX R18wounts ISSI 241U1r2023

Section B Statement of assets and liabilities at the end of the period Unrestricted funds Restricted fund8 Endowment funds B1 Cash funds BAr¢￿y5 Bdnk Account 1,889 Firs1 Direct Bank Acwjni 15,813 rotal cash fund 17.U2 lagr•gbalarttsvJilhrnttelptsar￿ payrnqnls Usll Unrestrieted fund5 lo n•we$tt Rèstri¢ted fvnd5 lo n•r￿le Endowment funds 10 114ar•st É B2 Other monetary assets F￿d t• wlw¢h Colt loptlo¢MI> Current value onil B3 Invostment a$$•ts FvDd tp whkh a*4t belon Cuffenl valu• On41 Dotails Cost loptlonaQ B4 Ass•t$ r•tsln¢d for the charltys own u5• Fund lowhl¢h Arnuuntdu• When du• Details 85 Llabllltles Signed by one or two Iruslees c¥) behalf of all the trustees Swnature Print Name Date of roval Charfie Herb8rt IctL? CCXX R2 accounts ISSI 2410112023

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of Magazine Wharf Kids On accounts for the year 31/03/2022 Charity no 1169578 ended (if any) Set out on pages 3 and 4

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2022

Responsibilities and As the charity trustees, you are responsible for the preparation of the basis of report accounts in accordance with the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts 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 confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect,:

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.

Signed: Name: Jodie Roebuck FCA Relevant professional ICAEW qualification(s) or body (if any):

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Date: 30/01/2023
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October 2018

IER

Address: Hawkins House, Alne, York, YO61 1RX

Give here details of any items that the examiner wishes to disclose .

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October 2018

IER