Fourah Bay College Alumni Association, United Kingdom (FBC AA UK) Trustees Report For Year Ending 31[st] March 2023
This report sets our achievement during financial year 2022/23 and our intended work in the next financial year.
The Trustees confirm that they have complied with the requirements of the Charities Act 2011, the trust deed and the Charities SORP (FRS 102).
Our Structure
Fourah Bay College Alumni Association, United Kingdom (FBC AA UK) became a registered UK Charity on the 15th June 2020. As a Charity, we aim to advance the equality of education to all students at FBC (USL), by providing aid
in various ways which is clearly set
out in our charity objects clause and governance document. As a result of its registration, the charity is managed by a Board of Trustees. The Board meets regularly to plan and implement fund raising programmes and activities, discuss activities for implementation to meet our strategic goals and monitor the outcomes and progress of programmes and activities.
Our enlarged Executive and Establishment comprises of six committees for the delivery of strategic aims and objectives.
These committees are:
⮚ Constitution and Governance ⮚ Finance and Bid-Writing ⮚ Communications and Public Relations ⮚ External Relations - including a UK scope and Global Alumni ⮚ External Relations in Sierra Leone - will include a focus of building relationships in Sierra Leone. ⮚ Secretariat comprising an Executive Secretary, Admin Secretary and Organising Secretary –responsible for the organisation’s admin, support with strategy and events planning.
Our stakeholders comprise of The Executive Administration (The University Senate); Lecturers and Tutors, The Student Body and global and Sierra Leone based alumni.
Risk management
The Trustees have in place a system of control for the authorisation, payment and monitoring of programmes and activities.
Our Vision
To facilitate the advancement of education at Fourah Bay College as a beacon of tertiary learning while supporting the student population, executive administration, lecturers and faculties through relationship building with global alumni and all stakeholders.
Our Objective
To advance the education of all students at Fourah Bay College, University of Sierra Leone in Freetown in Sierra Leone, by providing assistance in various ways on the basis of equality of opportunity, with mutual respect and positive encouragement in order to develop their full potential and contribute to their academic, professional and personal development and the community as a whole.
To relieve students of poverty and financial hardship by providing financial support in the form of assistance packages and scholarships where necessary.
To improve the quality of education at Fourah Bay College by providing teaching and learning resources and a safe teaching and learning environment for students in Sierra Leone.
Review of activities and achievements
The financial year under review has seen an improved financial performance. During the financial year, our total receipts were £2,747.45 and our total payments were £ 2,395.07, giving us a surplus of £352.38.
There has been a significant increase in subscription received from members from £1,030 in 2021/22 to £1,505 in 2022/23 financial year. This amounts to an increase of £475 (46% increase). In real terms, this means that we had 19 more paid-up members in 2022/23. Subscription is a major part of our income and critical in ensuring that we continue our work at FBC in Freetown.
The ‘Meet & Greet’ was a successful event as we raised a gross amount of £1,012.44.
The Library Project continues unabated. In the previous financial year, 2021/22, we installed shelves to house the books we donated to FBC library in Freetown. We also provided the College with an iPad, costing £300, to capture and transfer information and electronically store Library information.
In the current year under review, 2022/23, we spent £1,029.07 to provide the College with binding materials and resources such as book cloth, gold foil, etc to bind newspapers and other reading materials in the Library. The effective provision of these facilities in the College Library are key in improving the quality of education at the University.
Future Plan
Our medium-term plans now include (a) Replacing the library bindery equipment (installed in 1965) and (b) Scholarship fund scheme, each hoping to drive its own benefit.
Thank you to our donors and members.
FBC AA UK relies heavily on funding from donors, members and fundraising activities. We wish to thank all our donors and the entire membership of the organisation for their generous donations and subscription respectfully. Our membership currently stands at over 50 and continues to grow from strength to strength.
Charity Trustees
-
Mr Magnus Nathaniel Cole
-
▪ Ms Fatumata Gassama ▪ Mr Bamikole Roberts
-
Chairman Executive Secretary Treasurer
-
Ms Madonna Sandra Coward Organising Secretary
-
Mr Rowland Gordon
-
Mr Mohammed Sadiku Dabo
Contact Details
Address:
Flat 16 Sarnesfield House Pencraig Way London SE15 1ND Phone: 07754105594
Email: fbcukaa@gmail.com
Charity Registration Number: 1189939
Bankers: Cooperative Bank
Trustee: Bamikole Roberts
Date: 26[th] October 2023
Fourah Bay College Alumni Association (UK) Financial Statement
For Period 1st April 2022 to 31st March 2023
| 2022-23 Incoming Resources Subscription 1,505.00 Engineers for Change Misc Credit Library Fundraising Event Scholarship Fund 1,012.44 Hall Deposit Refund (Meet & Greet) 230.00 PayPal Deposit 0.01 Total Income Resources Resources Expended Direct Expenses Presentation in Freetown AYV International Symposium Library Project 1,029.07 Shippment of Books to Sierra Leone Printing Cards and Presentation Booklets Hall Hire - Meet and Greet Event 750.00 Entertainment - Meet and Greet 150.00 Total Direct Expenses Admin & Management Expenses Monthly Mobile Phone Charges (Bami) 170.00 Website Hosting and Management 136.80 Printing and Stationery 159.20 Total Admin & Management Expenses Total Expenses Excess Income / Expenses Opening Balance Closing Fund Balance |
2022-23 2021-22 1,030.00 248.94 1,135.00 2,747.45 212.00 200.00 873.60 1,100.00 480.00 1,929.07 146.00 60.00 466.00 2,395.07 352.38 1,742.93 2,095.31 |
2021-22 |
|---|---|---|
| 2,413.94 | ||
| 2,865.60 206.00 |
||
| 3,071.60 | ||
| (657.66) 2,400.59 |
||
| 1,742.93 |
Balance Sheet as at 31st March 2019
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Fixed Assets Net Book Value 0.00 0.00
Current Assets
Bank - Current Account 2,095.31 1,742.93
Current Liabilities 0.00 0.00
Total Assets 2,095.31 1,742.93
Represented by:
General Fund Balance 2,095.31 1,742.93
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Statement of Trustees Responsibilities
The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with Charities Commission and the Statement of Recommended Practice in the United Kingdom.
The law applicable to charities in England and Wales, the Charities Act 1993, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, trustees are required to:
●
●
Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charity SORP
● Make judgements and estimates that are reasonable and prudent ● Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.