**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 2022**
## **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 2022**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5 to 6|
|**Notes to the Financial Statements**|7 to 12|
|**Detailed Statement of Financial Activities**|13|
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
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 2022. 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.
## **Significant activities**
The training and support programme continued in 2022 with the primary finders being FCDO and secondary funders being the Marbourough Brandt Group (MBG) and St James Place who support the training to go along side their funding of a micro loan scheme. A further two workshops were conducted with over 20 half day learning events and a networking meeting for participants. Mentoring and support visits to participants were also conducted throughout the year for all participants.
The trustees met in August 2022, to specifically look at the future direction of the charity and how it could be handed over to the Gambian charity within the next few years. Further capacity building for staff has been conducted to help them be able to take on the induction workshop training as well as the management and governance of a charity.
In the last year the total number of participants added to the programme is a further 63 bringing the number trained unto 235 since the first workshop and 108 in the two years of FCDO funding. Of the 108 participants in the last two years, 53 are now keeping business account records, 43 have register their businesses with the Ministry of Justice, 15 further people have taken paid employment and 69 have opened bank accounts.
## **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.
## **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
Page 1
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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**
Valley View 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
## **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
Page 2
## **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 2022.
## **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 FCA
Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
Date: .............................................
Page 3
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|||||**31.12.22**|31.12.21|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|**Total**|Total|
|||fund|funds|**funds**|funds|
||Notes|£|£|**£**|£|
|**INCOME AND ENDOWMENTS FROM**||||||
|Donations and legacies||**20,646**|**16,234**|**36,880**|54,288|
|**EXPENDITURE ON**||||||
|Raising funds|2|**32**|**-**|**32**|-|
|**Charitable activities**||||||
|General activities||**992**|**26,361**|**27,353**|24,364|
|**Total**||**1,024**|**26,361**|**27,385**|24,364|
|**NET INCOME/(EXPENDITURE)**||**19,622**|**(10,127)**|**9,495**|29,924|
|**Transfers between funds**|8|**(6,573)**|**6,573**|**-**|-|
|**Net movement in funds**||**13,049**|**(3,554)**|**9,495**|29,924|
|**RECONCILIATION OF FUNDS**||||||
|Total funds brought forward||**29,582**|**19,731**|**49,313**|19,389|
|**TOTAL FUNDS CARRIED FORWARD**||**42,631**|**16,177**|**58,808**|49,313|
The notes form part of these financial statements
Page 4
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **BALANCE SHEET 31 DECEMBER 2022**
||||||**31.12.22**|31.12.21|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||**Total**|Total|
|||fund|funds||**funds**|funds|
||Notes|£|£||**£**|£|
|**FIXED ASSETS**|||||||
|Tangible assets|5|**1,594**||**-**|**1,594**|1,294|
|**CURRENT ASSETS**|||||||
|Debtors|6|**5,737**||**-**|**5,737**|2,852|
|Cash at bank and in hand||**35,330**|**16,177**||**51,507**|45,389|
|||**41,067**|**16,177**||**57,244**|48,241|
|**CREDITORS**|||||||
|Amounts falling due within one year|7|**(30)**||**-**|**(30)**|(222)|
|**NET CURRENT ASSETS**||**41,037**|**16,177**||**57,214**|48,019|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||**42,631**|**16,177**||**58,808**|49,313|
|**NET ASSETS**||**42,631**|**16,177**||**58,808**|49,313|
|**FUNDS**|8||||||
|Unrestricted funds|||||**42,631**|29,582|
|Restricted funds|||||**16,177**|19,731|
|**TOTAL FUNDS**|||||**58,808**|49,313|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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
Page 5
continued...
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **BALANCE SHEET - continued 31 DECEMBER 2022**
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 6
**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost Computer equipment - 33% on cost
## **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.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 7
**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. RAISING FUNDS**
## **Raising donations and legacies**
|**Raising donations and legacies**|||
|---|---|---|
||**31.12.22**|31.12.21|
||**£**|£|
|Support costs|**32**|-|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
Restricted
fund
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
17,771
36,517
**EXPENDITURE ON**
**Charitable activities**
General activities
78
24,286
**NET INCOME**
17,693
12,231
**RECONCILIATION OF FUNDS**
Total funds brought forward
11,889
7,500
**TOTAL FUNDS CARRIED**
**FORWARD**
29,582
19,731|Total
funds
£
54,288|
|---|---|
||24,364|
||29,924
19,389|
||49,313|
continued...
Page 8
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
|**5.**|**TANGIBLE FIXED ASSETS**|||||||
|---|---|---|---|---|---|---|---|
|||||Plant and||Computer||
|||||machinery||equipment|Totals|
|||||£||£|£|
||**COST**|||||||
||At 1 January 2022||||**205**|**1,089**|**1,294**|
||Additions||||**-**|**300**|**300**|
||At 31 December 2022||||**205**|**1,389**|**1,594**|
||**NET BOOK VALUE**|||||||
||At 31 December 2022||||**205**|**1,389**|**1,594**|
||At 31 December 2021||||205|1,089|1,294|
|**6.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN**||**ONE YEAR**|||||
|||||||**31.12.22**|31.12.21|
|||||||**£**|£|
||Trade debtors|||||**3,099**|-|
||Other debtors|||||**2,638**|2,852|
|||||||**5,737**|2,852|
|**7.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
|||||||**31.12.22**|31.12.21|
|||||||**£**|£|
||Trade creditors|||||**30**|222|
|**8.**|**MOVEMENT IN FUNDS**|||||||
|||||Net||Transfers||
|||||movement||between|At|
|||At 1.1.22||in funds||funds|31.12.22|
|||£||£||£|£|
||**Unrestricted funds**|||||||
||General fund|**29,582**||**19,622**||**(6,573)**|**42,631**|
||**Restricted funds**|||||||
||Training and support programme|**8,175**|||**-**|**-**|**8,175**|
||Microloans programme|**11,556**||**(3,554)**||**-**|**8,002**|
||FCDO funding||**-**|**(6,573)**||**6,573**|**-**|
|||**19,731**||**(10,127)**||**6,573**|**16,177**|
||**TOTAL FUNDS**|**49,313**||**9,495**||**-**|**58,808**|
continued...
Page 9
**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|**20,646**|**(1,024)**|**19,622**|
|**Restricted funds**||||
|Microloans programme|**-**|**(3,554)**|**(3,554)**|
|FCDO funding|**16,234**|**(22,807)**|**(6,573)**|
||**16,234**|**(26,361)**|**(10,127)**|
|**TOTAL FUNDS**|**36,880**|**(27,385)**|**9,495**|
|**Comparatives for movement in funds**||||
|||Net||
|||movement|At|
||At 1.1.21|in funds|31.12.21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|11,889|17,693|29,582|
|**Restricted funds**||||
|Training and support programme|-|8,175|8,175|
|Microloans programme|7,500|4,056|11,556|
||7,500|12,231|19,731|
|**TOTAL FUNDS**|19,389|29,924|49,313|
continued...
Page 10
**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|17,771|(78)|17,693|
|**Restricted funds**||||
|Training and support programme|29,016|(20,841)|8,175|
|Microloans programme|7,501|(3,445)|4,056|
||36,517|(24,286)|12,231|
|**TOTAL FUNDS**|54,288|(24,364)|29,924|
A current year 12 months and prior year 12 months combined position is as follows:
||||Net|Transfers||
|---|---|---|---|---|---|
||||movement|between|At|
||At 1.1.21||in funds|funds|31.12.22|
|||£|£|£|£|
|**Unrestricted funds**||||||
|General fund|11,889||37,315|(6,573)|42,631|
|**Restricted funds**||||||
|Training and support programme||-|8,175|-|8,175|
|Microloans programme||7,500|502|-|8,002|
|FCDO funding||-|(6,573)|6,573|-|
|||7,500|2,104|6,573|16,177|
|**TOTAL FUNDS**|19,389||39,419|-|58,808|
continued...
Page 11
**BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. MOVEMENT IN FUNDS - continued**
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|38,417|(1,102)|37,315|
|**Restricted funds**||||
|Training and support programme|29,016|(20,841)|8,175|
|Microloans programme|7,501|(6,999)|502|
|FCDO funding|16,234|(22,807)|(6,573)|
||52,751|(50,647)|2,104|
|**TOTAL FUNDS**|91,168|(51,749)|39,419|
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022.
Page 12
## **BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
||31.12.22|31.12.21|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**2,146**|266|
|Grants|**34,734**|54,022|
||**36,880**|54,288|
|**Total incoming resources**|**36,880**|54,288|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|**5,902**|5,164|
|Pensions|**588**|513|
|Insurance|**517**|540|
|Travel and accommodation|**7,512**|6,678|
|Local facilitators|**154**|108|
|Training costs|**833**|905|
|Subsistence|**2,522**|3,604|
|Capacity building|**184**|433|
|Mentoring|**1,888**|457|
|Gambian office costs|**4,573**|4,391|
|Logistical support|**1,500**|1,500|
|COVID measures|**63**|336|
||**26,236**|24,629|
|**Support costs**|||
|**Management**|||
|Sundries|**204**|84|
|**Finance**|||
|Bank charges|**32**|78|
|**Governance costs**|||
|Accountancy and legal fees|**364**|314|
|Foreign exchange|**549**|(741)|
||**913**|(427)|
|Total resources expended|**27,385**|24,364|
|**Net income**|**9,495**|29,924|
This page does not form part of the statutory financial statements
Page 13