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2024-12-31-accounts

Company registration number: CE014259 Charity registration number: 1178589

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

(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 December 2024

Vale & West Accountancy Services Limited Vale & West Accountancy Services Limited Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

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

Contents

Trustees' Report 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 13

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

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2024.

Objectives and activities

Objects 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.

Objectives, strategies and activities

During the reporting period, the charity continued to provide support to over 250 individuals in their business development through ongoing mentoring and advisory visits. A core aspect of the charity’s activities has been the delivery of educational and training initiatives to empower women entrepreneurs and support their development.

The charity maintained its established workshop programme and launched a new educational strand, the Julaya Silo Fundamentals Course, aimed at women with low or no literacy and limited formal education. Alongside this, local half-day training sessions—referred to as 'Share Events'—continued to run successfully.

In total, the charity delivered:

· One networking event for 13 women

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 1

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

Trustees' Report

Achievements and performance

The early months of 2024 were marked by financial uncertainty, following the conclusion of UK Government funding. As a result, a scheduled workshop in January 2024 did not proceed. Contributing factors included funding constraints and the temporary unavailability of a key staff member who was undertaking university studies. This impacted the charity's ability to deliver staff training as originally planned.

Despite these challenges, the charity successfully delivered a workshop in May/June 2024 for 16 new participants. This event also enabled the commencement of ‘train-the-trainer’ activities for a newly appointed female staff member, alongside continued development for an existing senior staff member.

In August 2024, the charity secured two years of funding from the EA Foundation to support the entire women’s programme, with a grant of £28,940. This funding underpins both the existing workshop programme (for literate women with low levels of education) and the newly launched Julaya Silo Fundamentals Course.

As part of the development of the Julaya Silo programme, a new female staff member was recruited (December 2023). A bespoke syllabus and delivery method were designed, piloted with two cohorts of six female vegetable sellers each, evaluated, and refined before wider implementation.

A comprehensive review of the charity’s microloan programme was conducted in 2024. Trustees resolved to pause the issuance of new loans until further funding is secured to cover administrative and operational costs associated with the scheme.

In recognition of the challenging travel conditions, particularly during the rainy season, and the need for reliable transportation to access remote programme areas, the charity received a private donation of just over £5,000 to purchase a suitable vehicle. This followed the temporary use of a non-four-wheel-drive car, loaned by the charity Raise Gambia, which was found to be inadequate for long-term use in the field. Trustees also approved driving lessons for two members of staff to ensure broader operational capability.

Reference and Administrative Details

Charity Registration Number: 1178589 Company Registration Number: CE014259 Registered Office: Valley View Rectory Road Streatley Berkshire RG8 9QA Independent Examiner: Vale & West Accountancy Services Limited Vale & West Accountancy Services Limited Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Page 2

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

Trustees' Report

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Dr T Long A M Quarendon J E Maughan C J Guest C Harmer J J Long

Structure, governance and management

Nature of 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 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 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.

Statement of trustees' responsibilities

The trustees (who are also the directors of BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE) for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Page 3

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

Trustees' Report

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 16 October 2025 and signed on its behalf by:

Dr T Long Trustee

Page 4

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 2024.

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 BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE) 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 Accountancy Services Limited

Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

17 October 2025

Page 5

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

Statement of Financial Activities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
11
Note
Income and Endowments from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
11		 Unrestricted
funds
£
294
294
(3,746)
(3,746)
(3,452)
(3,452)
41,540
38,088
Unrestricted
funds
£
3,577
3,577
(3,385)
(3,385)
192
(1,283)
(1,091)
42,631
41,540		 Restricted
funds
£
19,324
19,324
(18,208)
(18,208)
1,116
1,116
-
1,116
Restricted
funds
£
4,584
4,584
(22,044)
(22,044)
(17,460)
1,283
(16,177)
16,177
-		 Total
2024
£
19,618
19,618
(21,954)
(21,954)
(2,336)
(2,336)
41,540
39,204
Total
2023
£
8,161
8,161
(25,429)
(25,429)
(17,268)
-
(17,268)
58,808
41,540

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 11.

The notes on pages 8 to 13 form an integral part of these financial statements. Page 6

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

(Registration number: CE014259) Balance Sheet as at 31 December 2024

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
9
Creditors: Amounts falling due within one year
10
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
11
Unrestricted income funds
Unrestricted funds
Total funds
11		 2024
£
4,378
336
35,394
35,730
(1,529)
34,201
38,579
631
37,948
38,579		 2023
£
140
1,729
40,210
41,939
(539)
41,400
41,540
-
41,540
41,540

For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 16 October 2025 and signed on their behalf by:

Dr T Long Trustee

The notes on pages 8 to 13 form an integral part of these financial statements. Page 7

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

Notes to the Financial Statements for the Year Ended 31 December 2024

1 Charity status

The address of its registered office is: Valley View Rectory Road Streatley Berkshire RG8 9QA

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

BE REEL (BUILDING EMPOWERMENT: RURAL ECONOMIC ENGAGEMENT IN LIFE) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

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

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Page 8

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

Notes to the Financial Statements for the Year Ended 31 December 2024

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Plant and machinery Computer equipment Motor vehicles

Depreciation method and rate 25% on cost 50% on cost 25% Reducing balance

Page 9

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

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above);

2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

3 Income from donations and legacies

Donations and legacies;
Donations
Grants, including capital grants;
Grants
Total for 2024
Total for 2023		 Unrestricted
funds
General
£
294
-
294
3,577		 Restricted
funds
£
4,854
14,470
19,324
4,584		 Total
funds
£
5,148
14,470
19,618
8,161

Page 10

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

Notes to the Financial Statements for the Year Ended 31 December 2024

4 Net incoming/outgoing resources

Net outgoing resources for the year include:

Depreciation of fixed assets

2024 2023
£ £
765 1,735

5 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

6 Taxation

The charity is a registered charity and is therefore exempt from taxation.

7 Tangible fixed assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
8
Debtors
Trade debtors		 Furniture and
equipment
£
1,875
-
1,875
1,735
140
1,875
-
140		 Motor
vehicles
£
-
5,003
5,003
-
625
625
4,378
-
2024
£
336		 Total
£
1,875
5,003
6,878
1,735
765
2,500
4,378
140
2023
£
1,729

Page 11

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

Notes to the Financial Statements for the Year Ended 31 December 2024

9 Cash and cash equivalents

Cash at bank
10 Creditors: amounts falling due within one year
Trade creditors
11 Funds
Unrestricted funds
General
General fund
Restricted funds
Training and support programme
Total funds
Balance at 1
January 2023
£
Unrestricted funds
General
General fund
29,582
Restricted
Training and support programme
11,556
Microloans programme
-
FCDO funding
-
Total restricted funds
11,556
Total funds
41,138		 Balance at 1
January 2024
£
41,540
-
41,540
Incoming
resources
£
19,814
-
(4,199)
(23,388)
(27,587)
(7,773)		 2024
£
35,394
2024
£
1,529
Incoming
resources
£
(3,592)
631
(2,961)
Transfers
£
(7,856)
(11,556)
4,199
23,388
16,031
8,175		 2023
£
40,210
2023
£
539
Balance at 31
December
2024
£
37,948
631
38,579
Balance at 31
December
2023
£
41,540
-
-
-
-
41,540

Page 12

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

Notes to the Financial Statements for the Year Ended 31 December 2024

12 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
13 Analysis of net funds
Cash at bank and in hand
Net debt
Net debt		 Unrestricted
funds
General
£
4,378
35,730
(1,529)
38,579
Unrestricted
funds
General
£
140
41,939
(539)
41,540
At 1 January
2024
£
40,210
40,210
At 1 January
2023
£
-		 Total funds at
31 December
2024
£
4,378
35,730
(1,529)
38,579
Total funds at
31 December
2023
£
140
41,939
(539)
41,540
At 31
December
2024
£
40,210
40,210
At 31
December
2023
£
-

Page 13

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

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Income and Endowments from:
Donations and legacies (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Income and Endowments from:
Donations and legacies (analysed
below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2024 Total
2024
£
19,618
19,618
(21,954)
(21,954)
(2,336)
(2,336)
41,540
39,204
Total
£
19,618
19,618
(21,954)
(21,954)
(2,336)
(2,336)
41,540
39,204		 Total
2023
£
8,161
8,161
(25,429)
(25,429)
(17,268)
(17,268)
58,808
41,540
Total
2023
£
8,161
Unrestricted
funds
General
£
294
294
(3,746)
(3,746)
(3,452)
(3,452)
41,540
38,088		 Restricted
funds
£
19,324
19,324
(18,208)
(18,208)
1,116
1,116
-
1,116
8,161
(25,429)
(25,429)
(17,268)
(17,268)
58,808
41,540

This page does not form part of the statutory financial statements. Page 14

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

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Donations and legacies
Appeals and donations
Appeals and donations
Grants - other agencies
Grants - other agencies
Charitable activities
Insurance
Insurance
Wages and salaries
Wages and salaries
Pensions
Travelling and accommodation
Travelling and accommodation
Local facilitators
Training costs
Subsistence
Subsistence
Capacity building
Capacity building
Mentoring and training
Mentoring and training
Gambian office costs
Telephone and internet
Telephone and internet
Sundry expenses
Sundry expenses
Accounting fees
Accounting fees
Bank charges
Foreign currency (gains)/losses
Depreciation of plant and machinery		 2024 Total
£
4,854
294
14,470
-
19,618
Total
£
(380)
(368)
(7,269)
-
(733)
(5,093)
(581)
(41)
(287)
(846)
(1,330)
(87)
(126)
(975)
(250)
(1,150)
(589)
(117)
-
(167)
340
(807)
(162)
(796)
(140)		 Total
2023
£
-
76
4,584
3,501
Unrestricted
funds
General
£
-
294
-
-
294		 Restricted
funds
£
4,854
-
14,470
-
19,324
2024
8,161
Total
2023
£
(736)
-
(3,009)
(3,385)
(644)
(6,770)
-
(88)
(24)
(2,750)
-
(1,279)
-
(557)
-
(2,640)
-
-
(163)
-
(405)
-
(160)
(1,084)
(1,530)
Unrestricted
funds
General
£
-
(368)
-
-
-
-
(581)
-
-
-
(1,330)
-
(126)
-
(250)
-
-
(117)
-
(167)
-
(807)
-
-
-		 Restricted
funds
£
(380)
-
(7,269)
-
(733)
(5,093)
-
(41)
(287)
(846)
-
(87)
-
(975)
-
(1,150)
(589)
-
-
-
340
-
(162)
(796)
(140)

This page does not form part of the statutory financial statements. Page 15

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

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

Depreciation of office equipment
Transfers between funds
Funds - Transfer from another fund
Funds - Transfer to another fund		 2024 Total
£
-
(21,954)
2024
Total
£
-
-
-		 Total
2023
£
(205)
Unrestricted
funds
General
£
-
(3,746)		 Restricted
funds
£
-
(18,208)
(25,429)
Total
2023
£
1,283
(1,283)
-

This page does not form part of the statutory financial statements. Page 16