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2022-09-30-accounts

Thank U Charity

Trustees Annual Report and Accounts

30[th] September 2022

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Thank U Charity

Trustees Annual Report and Accounts for the period ended 30[th] September 2022

Contents Page
Reference and Administration Information 3
Trustees Annual Report
- Background 4
- Vision, purpose and aims 6
- Structure, governance, and management of the charity 6
- Trustee Report 7/8
- Moving forward 9
- Our volunteers 10
Financial Review 10
Statement of Financial Activities 10/11
Statement of Assets and Liabilities 11
Notes to the Accounts 11

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Thank U Charity

Charitable Incorporated Organization (CIO) Reg No: 1179853

Reference and administration details

The Charity Name Thank U Charity Incorporation Charitable Incorporated Organization Incorporation Date 7[th] September 2018 The Charity Registered Number 1179853 Registered Office Dawes Road Hub 20 Dawes Road Fulham London SW6 7EN Email address enquiry@thankucharity.org Website www.ThankUCharity.org The Trustees Debra Blackwood (Chair) Ugochi Amajuoyi Enoch Annobil Chloe Wood Tanika Jazmin Yearwood Sally Baffour (Founder) Bankers Lloyds Bank 21-25 Kings Street, Hammersmith, London, W6 9HW England, UK

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Trustees Annual Report for the period ended 30[th] September 2022

The Directors of the Thank U Charity Charitable Incorporated Organisation are its Trustees (as required by charity law) and are collectively referred to as the Trustees throughout the report.

The trustees present their report with the financial statements of the charity for the year ending 30 September 2021. 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 2015).

Background

At the year end of September 2021, the COVID pandemic was still raging, and the restrictions imposed, limited all our activities, both in the UK and abroad.

Throughout this period, the under-resourced Ghanaian schools, that we had been working with, were all closed. However, we used social media to communicate with the school heads, to maintain the strong bond, which were established before Covid. Technology has also been instrumental in how we spent our hiatus.

During lockdown, online training and development was given to the trustees, enabling them to upskill.

The extensive online training covering the following topics:

  1. Digital marketing

  2. Planning our Online business strategy

  3. Search engine optimization

  4. Setting Realistic SEO Goals

  5. Developing and establishing social media strategy

  6. Social media Marketing

  7. Search Engine Marketing

  8. Advertising on social media

  9. Social media analytics

  10. Web analytics

  11. Building e-commerce shop

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This laid the foundation for the launch of our new online operation in 2022 which significantly improved our methods of operation and with potential for a more creative fundraising strategy, to aid our commitment to becoming self-sustaining.

Lockdown also allowed, our supporters and donors to do mass clear-outs. This increased the recycled donations we received, from Schools mainly which included books, educational materials, and equipment, such as printers, whiteboards and TVs to enhance the facilities we provide for the Eco-Learning Centres in the schools in Ghana.

Stakeholders include:

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Our Aims and Objectives

Purposes of the Charity as set out in its governing document.

Our charity purposes as set out in the objects contained in the company’s memorandum of association are:

  1. The relief and prevention of poverty in Africa and the Caribbean but not exclusively, by the provision of educational resources and free training programmes to children and adults

  2. Advancing in life and helping young people through the provision of literacy, performing, and cultural arts-based activities provided in the interest of social welfare designed to improve their conditions of life and providing support and activities which develop their skills, capacities, and capabilities to enable them to participate in society as mature and responsible individuals.

Ensuring our work delivers our aims

Trustees review the charity’s aims and projects every year. We focus on delivering projects which deliver our charitable objectives.

Structure, governance, and management of the charity

The structure, governance, and management of Thank U Charity are meticulously organized to ensure efficiency, transparency, and accountability in all our endeavours. Our dedicated team of trustees provide strategic guidance, ensuring that our activities align with our charitable objectives and comply with all statutory requirements. Emphasizing a culture of openness, we uphold robust governance practices that prioritize the interests of our beneficiaries and stakeholders. Our experienced management team oversees the day-to-day operations, fostering collaboration and innovation to drive impactful initiatives forward. With a welldefined structure and strong governance, Thank U Charity remains steadfast in our mission to create positive change and make a meaningful difference in the lives of those we serve.

The charity’s organizational structure

In the year under review, the Charity had six trustees; all of them were volunteers who met together approximately every quarter on Zoom. The trustees have overall control and responsibility for policy and major decision-making. All directors are trustees. Day-to-day management and responsibility for implementing policies are conducted by the trustees.

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Trustee Report - Thank U Charity

We, the trustees, hereby affirm that the annual report and financial statement for Thank U Charity, presented in this report, comply with all current statutory requirements.

Main activities undertaken for these purposes during the year were:

Strengthening Our Foundation: During the year, our Charity remained steadfast in achieving our primary objective. To strengthen our organization, we actively engaged in events and fundraising activities, focusing on enhancing our skills. After receiving capacity training in online business strategy and digital marketing, we seized the opportunity to explore additional income streams alongside our main operations.

Overcoming Challenges with Resilience: This year brought its share of challenges, as the global pandemic deeply impacted all stakeholders, including our recipients and funding sources. We acknowledge the difficulties faced by many of our supporters and donors, leading to a reduction in income. In response, we relied on the support of the bounce-back loan, which urged us to explore new avenues for generating income, ultimately leading us to venture into e-commerce with an online charity store.

Pursuit of growth: Our pursuit of growth and impact led us to upskill in applied digital marketing, launching a trial e-commerce shop featuring Thank U brand items. While initial outcomes were not as anticipated, we learned valuable lessons. After thorough review and self-assessment, we embraced the potential of selling print-on-demand products, culminating in the successful launch of our first print-on-demand product, wall planners, available on our Shopify online store at https://www.wallplanner.shop/.

Contracting a Technical Manager : To bolster our online activities and technical management, we engaged a Ghana-based digital technician and web expert, achieving cost-effectiveness and efficiency in overseeing our operations in both the UK and our Eco-Learning Centres in Ghana.

Empowering Generations through Digital Literacy : Thank U Charity's core focus this year has been the transformation of our Discussions Across Generations (DAG) project into a dynamic online program. Our commitment to public benefits drove us to focus on our primary objective – which has been the transformation of our Discussions Across Generations (DAG) project into a program that aims to nurture intergenerational connections through digital literacy, empowering both the elderly and young participants alike.

Adapting to new challenges in the aftermath of the pandemic: We are tirelessly working to engage and overcome the newfound challenges that have arisen in the wake of the pandemic. As we adapt to it, we are exploring innovative ways to engage the elderly in digital literacy, fostering empowerment and combatting loneliness through online connections. We remain

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dedicated to empowering young volunteers with advanced digital marketing training, uplifting their employability and income potential.

DAG’s Positive impact on the mental health of the Young and the Old : The success of the DAG project will positively impact the mental well-being of both young and old participants, offering an engaging and value-creating experience.

Making a Sustainable Difference : With the help of our some of our supporters, Thank U Charity has shipped over 8,000 academic books and educational materials to schools in Ghana and set up two libraries in two more schools, enriching the minds of 3,600 students. Our ambition to construct a new warehouse in Ghana for storage purposes will enable us to better manage resources and expand our Eco-Learning Centre projects. This pivotal step aligns with our vision to create a central base, facilitating efficient oversight and networking of all EcoLearning Centres throughout the country.

Empowering Girls' Education: Our dedication to girls' education is unwavering. Through the success of our e-commerce venture, we aspire to provide reusable sanitary hygiene products to schoolgirls in Ghana. With the support of our donors and stakeholders, we can ensure that menstruation no longer hinders the girl-child's education, allowing them to pursue their dreams without limitations.

Building for a Brighter Future : We are grateful for the generous donation of land valued at £30,000, which provides the opportunity to construct our very own warehouse. This strategic asset will serve as a springboard for all our operations in Ghana and enable us to expand our efforts further. Additionally, we plan to establish a central Eco-Learning Centre Computer Training Centre, fostering continuous professional development for teachers and technical teams throughout the country.

Thank U : As we strive to make a positive impact on the lives of those we serve, we sincerely thank each and every one of our supporters and donors. Your belief in Thank U Charity drives us forward, ensuring that together, we build a better, brighter future for generations to come. So we ask everyone to join us on this inspiring journey to help make a lasting difference.

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Moving forward

Thank U Charity aims to achieve the following short and longer-term objectives:

  1. Develop, promote, and market our E-commerce online charity shop, along with the Thank U brand of print on demand products and wall planners.

  2. Expand product offerings to include reusable sanitary hygiene products, with a buythree-donate-one model, supporting girls' education in Ghanaian schools.

  3. Implement and fine-tune the digitalized Discussions Across Generations Project in London.

  4. Continue shipping books and educational materials to Ghanaian schools, with a vision to build a new warehouse to store these resources.

  5. Raise funds for constructing the warehouse on the donated plot of land, providing a solid base for our operations in Ghana.

  6. Establish a central Eco-Learning Centre Computer Training Centre within three years, serving as a hub for professional development and virtual learning programs for EcoLearning Centres throughout Ghana.

Thank U Charity remains committed to transparency, growth, and impact. We express our sincere gratitude to all supporters and donors who make our work possible. The invaluable support from all our stakeholders drives us to go further, do more, and make an indelible impact on the lives of those in need. Together, we forge a path of progress and compassion, empowering lives and creating a brighter future for all, to make a difference that echoes through generations.

The Charity’s strategies for achieving its aims and objectives in the future:

The Charity’s strategies for achieving its stated objectives have been to refocus our efforts on implementing our new method of operation by incorporating the online systems. Additionally, we are also having to adjust to many new changes that have unexpectedly resulted from the unprecedented fallout in the after math of the pandemic.

We are treading new ground in many areas of our operation and so the learning and adaptations that we are having to work through will be invaluable in helping to establish a more efficient and productive way forward. We are actively engaging in a multitude of online capacity-building training courses, aiming to fortify our infrastructure. This will empower us to develop more sustainable internal systems and cultivate resilient strategies for future processes.

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The Charity continues to maintain and manage the funds we have secured, to support ongoing work, to further its objectives.

The Charity will seek to maximize the benefits of partnership and collaboration to support the realization of its aims.

The contribution of volunteers during the year:

The Charity currently has a governing body of six trustees who are all volunteers.

The Charity has two additional volunteers who support the charity as and when needed.

FINANCIAL REVIEW

As of 30th September 2022, Thank U Charity reported unrestricted reserves of £42,863, demonstrating the organization's commitment to maintaining financial stability and resilience. In the previous year, the charity had taken out a loan of £50,000 to secure essential land title documents, building design, and permissions for the construction of a warehouse and training Centre which is still ongoing due to huge delays in the relevant Government systems in the aftermath of the pandemic.

The Trustees acknowledged the need to increase reserves and aimed to reach £20,000 during the 2023 fiscal year. This prudent approach is considered adequate when weighed against turnover and annual operational costs and will also contribute to repaying the loan. The Trustees affirm their satisfaction with the charity's financial health, considering it a going concern.

The main achievements and performance of the charity during the year:

  1. Established our new ecommerce online charity shop.

  2. We had a boost in recycled book donations from local schools, post pandemic.

  3. Upskilled key Trustees personnel on advanced digital marketing and capacity-building training.

  4. Adapted all our operations to the digital and online format.

  5. Employed our first Digital Technology contractor who works for us from his base in Accra, Ghana where all our international projects are concentrated.

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  1. Acquired through the generous donation of a supporter, a plot of land in Accra, the capital of Ghana.

  2. Updated our Thank U charity website, and developed the new Ecommerce store, https://www.wallplanner.shop/

Risk and Uncertainty - Navigating Challenges with Resilience

Thank U Charity faces significant challenges amidst the current financial climate, particularly in the aftermath of the Covid-19 pandemic. The impact has been profound, leading to two main issues:

  1. The charity experienced sharp declines in revenues due to the extended pause in international projects, notably the Eco-learning Resource Centre. The beneficiary schools in Ghana remained closed until mid-2022, hindering project implementation and financial progress.

  2. The economic downturn following the pandemic affected the finances of our supporters and donors, leading to unexpected expenditure as we explored innovative ways to overcome the emerging challenges.

Despite these obstacles, the Trustees remain optimistic as the situation improves. They closely monitor government interventions and trends to guide the charity in building resilience for the future. Through innovation and strategic restructuring, Thank U Charity adapts to the unprecedented changes brought about by the pandemic, unwavering in its commitment to making a meaningful difference in the lives of those it serves.

Method of preparation of accounts

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016

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Thank U Charity

Unaudited Financial Statements for the Year Ending 30th September 2022

Reference and administration details

Thank U Charity (1179853)

The Charity Name Thank U Charity Incorporation Charitable Incorporated Organisation Incorporation Date 7[th] September 2018 The Charity Registered Number 1179853 Registered Office Dawes Road Hub 20 Dawes Road Fulham London SW6 7EN Email address admin@thankucharity.org Website www.ThankUCharity.org The Trustees Debra Blackwood (Chair) Enoch Annobil Ugochi Amajuoyi Sally Baffour Chloe Wood Daniella Akinsemoyin Tanya Jazmin Yearwood Bankers Lloyds Bank 21-25 Kings Street, Hammersmith, London, W6 9HW

Thank U Charity (1179853)

Statement of Financial Activities (including Summary income and expenditure account)

For the period from 1st October 2021 to 30th September 2022

Restricted
NUnrestricted income Endowment Total Prior year
funds funds funds funds funds
£ £ £ £ £
Income (Note 1)
Income and endowments from:
Donations and legacies 577 - - 577 577
Charitable activities - - - - -
Other trading activities - - - - -
Investments - - - - -
Other - - - - -
Total 577 - - 577 577
Expenditure (Note 2)
Expenditure on:
Raising funds 127 127 -
Charitable activities 27,636 - 27,636 8,002
Separate material expense item - - -
Other 8,191 8,191 8,777
Total 35,954 - - 35,954 16,779
Net income/(expenditure) before
tax for the reporting period		 (35,377) - - (35,377) (16,202)
Tax payable - -
Net income/(expenditure) after tax
before investment gains/(losses)		 (35,377) - - (35,377) (16,202)
Net gains/(losses) on investments - -
Net income/(expenditure) (35,377) - - (35,377) (16,202)
Extraordinary items -
Transfers between funds - -
Other recognised gains/(losses): - -
Gains and losses on revaluation of -
fixed assets for the charity’s own use -
Other gains/(losses) - -
Net movement in funds (35,377) - - (35,377) (16,202)
Reconciliation of funds:
Total funds brought forward (4,003) (4,003) (292)
Total funds carried forward (39,380) - - (39,380) (16,494)

Thank U Charity (1179853)

Financial Review

The charity's financial position at the end of the year ended 30th September 2022

The financial position of the charity at 30th September 2021, as more fully detailed in the accounts, can be summarised as follows:-

Net (expenditure)/income
Unrestricted Revenue Funds
available for the general purposes of
the charity b/f
Total unrestricted funds
Retricted Reserves
Total Funds		 2021/22
(35,377)
(4,003)
(39,380)
43,077
3,697

Financial review of the position at the reporting date, 30th September 2022

The Trustee's confirm that they are satisfied that the Charity is a going concern.

Method of preparation of accounts

The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)

Policy on Resesrves

The charity holds no reserve, but has funds in their savings account. This is a loan which helped the charity to stay afloat during the pandemic. The trustees confirm they are satisfied that the charity continues as a going concern.

Risks and uncertainties facing the charity.

The loan was used to develop the charity further, with funds available to collect, store and ship books as well as campaign marketing and raising awareness and staging events.

  1. International projects; are operational and there has been significant movement in charity activities.

Thank U Charity (1179853)

  1. Training of staff in digitalization, and redesign all UK projects has started.

In consideration of the continuation of these uncertainties, our Trustees are closely monitoring the situation, Government interventions and its impact, to help guide us in ways to build in resilience for our charity’s future, by innovating and restructuring all our activities and operations for flexible online and offline delivery.

Principal funding sources in the year and how these support the key objectives of the charity.

Principal funding sources have been through various ad-hoc donations from a small number of individuals, owever the loan has allowed us to expand and hire experienced campaign marketing staff.

Approval of this report

This report was approved by the board of trustees on 31/07/2023

D Blackwood Chair

Thank U Charity (1179853)

Statement of Assets & Liabilities as at 30th September 2022

Note
Fixed assets
Total fixed assets
Current assets
Cash at bank and in hand
General Account
Savings Account
Total current assets
Creditors: amounts falling due within
one year
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
one year *
*Total net assets or liabilities
Funds of the Charity
Restricted income funds
Unrestricted funds
Total funds		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this
year
Total last
year
£
£
£
£
£
-
-
-
-
-
32
-
-
32
319
7,455
-
7,455
45,975
7,487
-
-
7,487
46,294
-
-
-
-
297
7,487
-
7,487
45,997
7,487
-
-
7,487
45,997
43,077
(43,077)
-
7,487
43,077
-
(35,590)
45,997
7,487
7,487
-
35,376
35,376
(292)
42,863
-
-
42,863
(292)

**LLOYDS Bank Loan £ 50,000.00

Thank U Charity (1179853)

Thank U Charity111798531

Notes to the accounts

Charitable
activities:
Other:
TOTAL INCO
Donations
and legacies:		 Note 1
Analysis of income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
£
£
£
Income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
£
£
£
Income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
£
£
£
Income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
£
£
£
Income		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
£
£
£
Income
Donations and gifts 577 - 2,317
Gift Aid -
Legacies -
General grants provided by government/other
charities
-		 - 9,950
Donated goods,facilities and services -
Other 0 0
Total 577 - - 0 12,267
Book Sales - -
Total - - - - -
Other - - - -
Total
ME		 - - - - -
577 - - 0 12,267

Thank U Charity (1179853)

Notes to the accounts

Consultancy
Other
TOTAL EXPENDITURE
Total other expenditure
Sundry
Expenditure on
charitable
activities
Project Expenditure
Marketing
Training
Utility Costs
Professional Fees
IT Costs & Website costs
Recruitment
Bank
Office & stationery
Travel
Sundry
Total expenditure on charitable
Note 2
Analysis of expenditure		 Note 2
Analysis of expenditure		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total
funds
Prior year
£
£
Expenditure		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total
funds
Prior year
£
£
Expenditure		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total
funds
Prior year
£
£
Expenditure		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total
funds
Prior year
£
£
Expenditure		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total
funds
Prior year
£
£
Expenditure
Project Expenditure 27,636 - 27,636 8,002
Marketing 127 - 127 1,328
Training - - -
Utility Costs 60 60 60
Professional Fees 400 - - 400 600
IT Costs & Website costs 3,836 - - 3,836 2,791
Recruitment - - - - -
Consultancy - 1,225
Bank 26 - - 26 2
Office & stationery 3,007 - - 3,007 2,364
Travel 25 - 25 70
Sundry 260 260 335
Total expenditure on charitable 35,377 - - 35,377 16,777
Sundry - - - 555
Total other expenditure - - - - 555
35,377 - - 35,377 17,332

Thank U Charity (1179853)