**REGISTERED COMPANY NUMBER: CE014259 (England and Wales) REGISTERED CHARITY NUMBER: 1178589** 

## **REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **FOR** 

**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 



**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7 to 8|
|**Notes to the Financial Statements**|9 to 13|
|**Detailed Statement of Financial Activities**|14|





**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The objects of the Charity are the prevention or relief of poverty in The Gambia by providing or assisting in the provision of education and/or training, and the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient. 

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**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **OBJECTIVES AND ACTIVITIES** 

## **Significant activities** 

The trustees met In April, October and December. Anna Quarendon joined as a new trustee attending her first meeting in April, 2020. 

The programme delivery for March 2020 was postponed at the last minute due to the outbreak of COVID-19, flight restrictions imposed by The Gambia and the national lockdown in the UK. Advice was given to past participants via WhatsApp to help them and their businesses during the crisis. 

Saint James Place (SJP) who donated the money for running the Micro Loan programme and Marlborough Brandt Group (MBG) who donated money for core programme expenses had been put on hold by both organisations. They were willing to let us retain the funds until such time as the programmes could be restarted.  A further £1000 from Duke Corporate Education was donated for core costs was also received. 

Early in the year we were informed that we had been successful with the application to Dept of Foreign and International Development (DFID) (now the Foreign, Commonwealth and Development Office FCDO) for funding of the core programme for 2 years. However a full due diligence process had to be undergone to complete the process successfully. This assessment took many months of detailed work, including the amending and development of some policies, updating of risk management procedures in light of COVID and separation of duties for financial transactions. By October the due diligence process was successfully completed but final sign off of the contract was only given on December 24th due to the uncertainty of foreign aid budget reductions. The contract whilst signed with a January 1, 2021 start date, does retain a 'get out' clause for FCDO should the government remove or reduce the funding supply. 

Whilst the programmes were halted in the Gambia due to travel restrictions work continued on improving the workshop materials and developing a participant workbook. A comprehensive two-year programme budget and operations plan was agreed by the trustees (and by FCDO). 

The process for setting up an off shoot - 'BE REEL Gambia' as a registered charity in the Gambia was investigated and is planned to be put in place as soon as travel restrictions are lifted. Likewise, the process for employment of staff in the Gambia has been prepared for. 

One trustee, the treasurer, (Caroline Harmer) attended specialist fraud prevention training at a cost of £45 which was reimbursed.  No other trustee received any remuneration for the role as a trustee. It was agreed to move to Xero accounting software from January 1, 2021 due to the extra detail it would enable us to have for different funders and because it could then be linked into the Gambian set of accounts which could also run on Xero, giving more control over payments made and received in The Gambia. 

At the end of the year we were offered an extra £6500 from SJP to help us cover the extra cost we are likely to encounter due to higher costs caused through COVID. 

## **Public benefit** 

The Trustees confirm that they have referred to the guidance contained in the Charity Commissioner's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. 

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**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **FINANCIAL REVIEW** 

## **Reserves policy** 

The charity maintains adequate reserves for its level of operation as no activities are undertaken until funding is in place from donors. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

BE REEL's governing document was registered with the Charity Commission on May 31, 2018 

## **Recruitment and appointment of new trustees** 

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the charity's Constitution. 

The trustees look for persons of proven integrity who share the vision and objectives of the charity and who have the relevant wisdom and experience to contribute to the running of the Charity. 

## **Induction and training of new trustees** 

Each new trustee is provided with the relevant Charity Commission publications, a copy of the Charity's constitution and the relevant information from the Charity Commission relating to the duties of trustees. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

CE014259 (England and Wales) 

## **Registered Charity number** 

1178589 

## **Registered office** 

The Old Golf House Annexe Rectory Road Streatley Berkshire RG8 9QA 

## **Trustees** 

Dr T Long Mrs J E Maughan J J Long Mrs C Harmer C Guest Mrs A Quarenden (appointed 3.1.20) 

Page 3 



**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Independent Examiner** 

Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

................................................................. Dr T Long - Trustee 

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## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **Independent examiner's report to the trustees of BE REEL (Building Empowerment: Rural Economic Engagement in Life) ('the Company')** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020. 

## **Responsibilities and basis of report** 

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) 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: 

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts 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 a matter considered as part of an independent examination; or 

4. the accounts 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 (FRS 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. 

Lee Gardner ACA Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 

Date: ............................................. 

Page 5 



## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** 

||||||**31.12.20**|31.12.19|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||**Total**|Total|
|||fund|funds||**funds**|funds|
||Notes|£|£||**£**|£|
|**INCOME AND ENDOWMENTS FROM**|||||||
|Donations and legacies||**6,107**||**-**|**6,107**|21,495|
|Other trading activities|2|**-**||**-**|**-**|481|
|**Total**||**6,107**||**-**|**6,107**|21,976|
|**EXPENDITURE ON**|||||||
|**Charitable activities**|||||||
|General activities||**1,881**||**-**|**1,881**|7,316|
|**NET INCOME**||**4,226**||**-**|**4,226**|14,660|
|**RECONCILIATION OF FUNDS**|||||||
|**Total funds brought forward**||**7,663**|**7,500**||**15,163**|503|
|**TOTAL FUNDS CARRIED FORWARD**||**11,889**|**7,500**||**19,389**|15,163|



The notes form part of these financial statements 

Page 6 



## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **BALANCE SHEET 31 DECEMBER 2020** 

|||||**31.12.20**|31.12.19|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|**Total**|Total|
|||fund|funds|**funds**|funds|
||Notes|£|£|**£**|£|
|**CURRENT ASSETS**||||||
|Cash at bank and in hand||**11,889**|**7,500**|**19,389**|15,163|
|**NET CURRENT ASSETS**||**11,889**|**7,500**|**19,389**|15,163|
|**TOTAL ASSETS LESS CURRENT**||||||
|**LIABILITIES**||**11,889**|**7,500**|**19,389**|15,163|
|**NET ASSETS**||**11,889**|**7,500**|**19,389**|15,163|
|**FUNDS**|5|||||
|Unrestricted funds||||**11,889**|7,663|
|Restricted funds||||**7,500**|7,500|
|**TOTAL FUNDS**||||**19,389**|15,163|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The notes form part of these financial statements 

continued... 

Page 7 



## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **BALANCE SHEET - continued 31 DECEMBER 2020** 

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. 

T Long - Trustee 

The notes form part of these financial statements 

Page 8 



**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

continued... 

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**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **2. OTHER TRADING ACTIVITIES** 

|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||**31.12.20**|31.12.19|
||**£**|£|
|Fundraising events|**-**|481|



## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. 

## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>Restricted<br>fund<br>funds<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>13,995<br>7,500<br>Other trading activities<br>481<br>-<br>**Total**<br>14,476<br>7,500<br>**EXPENDITURE ON**<br>**Charitable activities**<br>General activities<br>7,316<br>-<br>**NET INCOME**<br>7,160<br>7,500<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>503<br>-<br>**TOTAL FUNDS CARRIED**<br>**FORWARD**<br>7,663<br>7,500|Total<br>funds<br>£<br>21,495<br>481|
|---|---|
||21,976<br>7,316|
||14,660<br>503|
||15,163|



continued... 

Page 10 



**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **5. MOVEMENT IN FUNDS** 

|**MOVEMENT IN FUNDS**||||
|---|---|---|---|
|||Net||
|||movement|At|
||At 1.1.20|in funds|31.12.20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**7,663**|**4,226**|**11,889**|
|**Restricted funds**||||
|Microloans programme|**7,500**|**-**|**7,500**|
|**TOTAL FUNDS**|**15,163**|**4,226**|**19,389**|
|Net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**6,107**|**(1,881)**|**4,226**|
|**TOTAL FUNDS**|**6,107**|**(1,881)**|**4,226**|
|**Comparatives for movement in funds**||||
|||Net||
|||movement|At|
||At 1.1.19|in funds|31.12.19|
||£|£|£|
|**Unrestricted funds**||||
|General fund|503|7,160|7,663|
|**Restricted funds**||||
|Microloans programme|-|7,500|7,500|
|**TOTAL FUNDS**|503|14,660|15,163|



continued... 

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**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **5. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|Incoming|Incoming|Resources|Movement|
|---|---|---|---|
|resources||expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|14,476|(7,316)|7,160|
|**Restricted funds**||||
|Microloans programme|7,500|-|7,500|
|**TOTAL FUNDS**|21,976|(7,316)|14,660|
|A current year 12 months and prior year 12 months combined position is as follows:||||
|||Net||
|||movement|At|
|At 1.1.19||in funds|31.12.20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|503|11,386|11,889|
|**Restricted funds**||||
|Microloans programme|-|7,500|7,500|
|**TOTAL FUNDS**|503|18,886|19,389|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|20,583|(9,197)|11,386|
|**Restricted funds**||||
|Microloans programme|7,500|-|7,500|
|**TOTAL FUNDS**|28,083|(9,197)|18,886|



continued... 

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**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** 

## **6. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 December 2020. 

Page 13 



## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** 

|**FOR THE YEAR ENDED 31**|**DECEMBER 2020**||
|---|---|---|
||31.12.20|31.12.19|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**2,607**|2,995|
|Grants|**3,500**|18,500|
||**6,107**|21,495|
|**Other trading activities**|||
|Fundraising events|**-**|481|
|**Total incoming resources**|**6,107**|21,976|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Sundries|**-**|91|
|Travel and accommodation|**479**|3,667|
|Local facilitators|**-**|80|
|GPA Management fees|**500**|500|
|Training costs|**502**|2,158|
|Subsistence|**400**|820|
||**1,881**|7,316|
|Total resources expended|**1,881**|7,316|
|**Net income**|**4,226**|14,660|



This page does not form part of the statutory financial statements 

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