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2023-03-31-accounts

The Charity Registration Number is :- 1191803

AFRO INNOVATION GROUP

Report and Accounts

31 March 2023

AFRO INNOVATION GROUP

Report and accounts for the year ended 31 March 2023

Contents

Page
Charity information 1
Trustees' Annual Report 1
Statement of directors' responsibilities 7
Independent Examiner's Report 9
Funds Statements:-
Statement of Financial Activities 11
Balance sheet 12
Cash flow statement 13
Notes to the accounts 14

The Trustees of the Afro-Innovation Group present their Annual report and Independently Examined Financial Statements for period ended 31 March 2023.

Reference and Administrative Details of the Charity

Name of Charity: Afro-Innovation Group

Registered Charity No: 1191803

Charity’s principal address: Floor 6, 60 Charles Street,

Leicestershire, Leicester, LE1 1FB

Names of the charity trustees who manage the charity:

Miss Annette Ngalula

Mr Deville Poto-Moto

Ms Taysir Al-Fayed

Miss Nejah Alwich

Miss Catherine Baroi

Mr Nicholas Babunga

Miss Lilian Rudo Mukundi

Mr Rwakasihi Marembo

Mr Raoul Kounkou

Structure, Governance and Management

Description of the charity’s trusts

Type of governing document: Charitable Incorporated Organisation

How the charity is constituted: Management Committee. Trustees selection methods: Appointed and Elected by members at the AGM Additional governance issues: During this financial year the organization has been served by

management committee members composed of Chair, Vice Chair, Secretary, Treasurer and 3 other trustees. The organisation has 6 staff and 20 volunteers working in different projects. AIG

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is an incorporated association with a constitution adopted in June 2008. It registered as a charity in July 2008. Now operating under a new legal structure as CIO.

The charity operates nationally, albeit has a primary focus on Leicester and Leicestershire. It now has an office in the heart of the city located at 60 Charles Street, Leicester city center. AIG has a Board of Trustees comprising of five individuals who live and work in the local community. It is therefore a very ‘rooted’ organisation which understands local circumstance and needs very well.

Our staff team remains small in this reporting period and comprises of 5 posts, all of whom are primarily funded via the Reaching Communities programme of BIG lottery community fund.

Objects and Aims of the Charity

The objects of the CIO are: 3.1. To provide relief to migrants and those granted refugee status in the East Midlands area by the provision of training facilities and support services so as to advance them in life and assist them with the adaption within a new community, with the objects of: - a) Preserving and protecting their physical and mental health b) Advancing their education and training; c) Relieving them from financial hardship and unemployment; and d) Assisting in the provision of facilities in the interests of social welfare or recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. 3.2 To relive financial hardship in Africa through such support and services as he trustees deem appropriate.

Challenges

Some of the key issues we have faced during 2022/23 have been partly due to post Covid-19 effects, but also to the increasing level of demand we are seeing for our services and support as others shut down, reduce time/staff or cut in services range and thus with our reputation, locality (central easy access) and wide range of services as one stop hub we have taken more users and demands for services. Managing the increases in the number of service users we have supported has come with its stresses and strains, not least with post Covid-19 health issues and other barriers sometimes presenting obstacles to face to face engagement, hence so far to reduce stress and support our staff with mental health we have introduced four day working week with one (fifth on Fridays) day 2 staff working from home flexibly through phones and only small outreach when needed.

In summary, the most pressing issues we have experienced are:

2

one of AIG’s drop-ins fit into this category, and we have not turned anyone away from our premises if we think we can make a genuine impact on the issue they have brought to us.

3

Activities

The focus of our organizational work this reporting year has ranged across a number of different subject areas, including:

Achievement and Performance

We contend that AIG makes a big difference to the lives of those individuals (and their families) that we support. We see the changes that we help people achieve on a daily basis, and we continue to receive exceptionally positive feedback from those people we help. Throughout 2022/23, we have made a major impact across the following main work streams hence growth in demand and numbers:

a) Tackling Covid-19 Misinformation (which continued but saw changes)

4

We have been at the forefront on tackling Covid-19 misinformation once again. We built on the work from the previous year and our dedicated team of principal leaders supported by volunteers and befrienders from various ethnic backgrounds and migrant communities, including Ethiopians, Eritreans, Somalis, Iraqis, Iranian, East Africans, Arabs, EEA citizens and endeavored to reach these communities in their own language and support clusters to share, and reiterate, information including government guidance about the need to get vaccinated.

b) Befriending support

We continued to encourage volunteering with AIG as befrienders, and this project has been central to the support we have been able to offer to our communities throughout the year.

Volunteering not only helped those people who received support, but the volunteers themselves who continued to develop their skills meaning they could be job ready in the foreseeable future. This was especially important for young people as they continued to be positively exposed to work experience settings.

c) Addressing Domestic Abuse

We have continued to support victims of domestic violence and abuse, and thanks to our partnership with Leicester and Leicestershire Women’s Aid, we had an accessible referral partner.

At the time of writing this report, we are developing a project with young people at the heart, to set up a campaign to help young BAME who are affected by DA. We hope to be able to fund and run this initiative in 2022/23.

d) Supporting those losing jobs

We continued to support those who had lost their jobs, or are being exploited in work settings (an increasingly important factor of our work with employees in hosiery and textile factories, for example).

We completed the delivery of projects taillored via Futures (ESF and BEIS) and via a SHIRES grant offering employability and job search support to help individuals find new work opportunities. We signposted individuals to online training programmes, delivered by AIG in collaboration with Near Neighbours.

e) cost of living crisis

We have seen this issue which ranges from fuel poverty, benefit issues, benefit sanctions, unemployment, reskilling, low pay, child poverty, food prices, transport and much more that we responded with our services delivery during the last year.

f) housing and homelessness crisis

With threats and risks of evictions and homelessness and with low numbers, and extremely overwhelmed, of supporting organisations in this area locally and new rules due to official housing crisis in the city with priority groups excluding single persons and the likes we had to share this

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highly demanding work and support. Including working with others to get temporary to abridging to private housing support and guarantors.

Next Steps for following financial year (2023- 2024).

We will continue to follow the direction of travel laid out in our Strategic Plan (2021-2025). Key development areas within the next 12 months include:

Core service development and delivery: we hope to establish an arts and cultural offer during the next 12 months along with our employability and community support services. Homelessness and housing: we are continuing to review options to run a night shelter and / or more permanent housing solutions.

Partnership and collaboration : we are actively seeking new partners, both strategically and operationally with whom we can work, including being part of the developing Positive Communities consortium. But there are other groups that we would like to work alongside.

Community Centre: we continue to explore possibilities for acquiring a building that can be developed as a community centre and/or offices for AIG. We are in talks with Leicester City Council about this issue presently.

Sustainable funding : we will continue to explore options to sustain and/or increase our income streams. However, we do need the right in-house skills to be able to successfully manage our Corporate Champions scheme and to develop new forms of income. We cannot rely on out sourced help as this only provides a short term fix. The establishment of regional hubs enables the possibility of widening our funding search, especially if we have a hub based in London.

Our longer term strategy to address rising demand is to secure (with support of our local council/local authorities) – a community centre under community asset transfer. We are currently working with the local housing team and the office of the City Mayor via Councillor Sue Hunter and with the support of all local MPs to make this happen.

International Development: we established a registered charity in DR Congo on May 2021, with a view to seeking funding to help it develop and deliver programmes aimed at the most vulnerable people in that country, especially in Kinshasa and linked rural communities. In the same way, we are looking to implement our works overseas across Africa and Asian countries.

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The status of the scrutiny is an Independent Examination of a CIO by an examiner who holds specific professional qualifications

Details of The Independent Examiner

Jitender Kaur

Member of ICAEW

Faith House

Main Street

Little Stretton

Leicestershire

LE2 2FS 0116 3677424

Statement of Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

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to presume that the charity will continue in business; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements .

This report was approved by the board of trustees on 14 September 2023.

Signed by:

  1. Secretary: Catherine Baroi

  2. Vice- Chair Rwakasihi Marembo:

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AFRO INNOVATION GROUP

Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 March 2023

I report to the Trustees on my examination of the financial statements of the charity on pages 11 to 22 for the year ended 31 March 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 14.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report

As described on page 7, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner's Statement and scope of work undertaken

Since the charity's gross income exceeded £250,000, the charity's examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am an authorised member of ICAEW , which is one of the listed bodies.

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

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AFRO INNOVATION GROUP

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

The gross income of the charity in the year ended 31 March 2023 appears to exceed the sum specified in Section 145(3) of the Act, namely £250000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of ICAEW ;

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).

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 financial statements to be reached.

Signed:-

Jitender Kaur - Independent Examiner

ICAEW Faith House Main Street Little Stretton Leicestershire LE2 2FS

This report was signed on 14 September 2023

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AFRO INNOVATION GROUP - Statement of Financial Activities for the year ended 31 March 2023

Statement of Financial Activities for the year ended 31 March 2023

Current year
Unrestricted
Funds
2023
£
Income & Endowments from:
Donations & Legacies
A1
204,357
Total income
A
204,357
Expenditure on:
Charitable activities
B2
39,277
Total expenditure
B
39,277
Net income for the year
165,080
Net income after transfers
A-B-C
165,080
165,080
Reconciliation of funds:-
E
Total funds carried forward
165,080
SORP
Ref
Net movement in funds		 Current year
Restricted
Funds
2023
£
212,333
212,333
212,259
212,259
74
74
74
74		 Current year
Total Funds
2023
£
416,690
416,690
251,536
251,536
165,154
165,154
165,154
165,154

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

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AFRO INNOVATION GROUP - Balance Sheet as at 31 March 2023

Note
SORP
Ref
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
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Net current assets
The total net assets of the charity
2023
£
167,595
(2,441)
165,154
165,154
2023
£
167,595
(2,441)
165,154
165,154
165,154

The total net assets of the charity are funded by the funds of the charity, as follows:-

Restricted funds
Restricted Revenue Funds
12
74
Unrestricted Funds
Unrestricted Revenue Funds
12
165,080
Designated Funds
Total charity funds		 74
165,080
165,154

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 10.

The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Rwakasihi Marembo

Trustee Approved by the board of trustees on 14 September 2023

The notes attached on pages 14 to 23 form an integral part of these accounts.

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AFRO INNOVATION GROUP

Cash Flow Statement for the year ended 31 March 2023

Cash flows from operating activities
A
Cash flows from financing activities
Net cash provided by operating activities as shown below		 2023
£
167,595
Net cash provided by financing activities
C
-
Overall cash provided by all activities
167,595
Cash movements
Change in cash and cash equivalents from activities in the
year ended 31 March 2023
167,595
Cash and cash equivalents at 1 April 2022
-
Change in cash and cash equivalents due to exchange rate movements
-
167,595
Net income as shown in the Statement of Financial Activities
165,154
Adjustments for :-
Write downs of investments
-
Net unrealised losses on investment assets
-
Increase in creditors, excluding loans
2,441
Net cash provided by operating activities
A
167,595
Analysis of cash and cash equivalents
2023
£
Cash in hand at for the year ended 31 March 2023
167,595
Notice deposits - (less than 3 months)
-
Total cash and cash equivalents
167,595
At start
Cash
of year
Flows and
Cash
-
167,595
167,595
Total
-
167,595
A+B+C
Analysis of change in net debt
Cash at bank and in hand less overdrafts at 31 March
Reconciliation of net income to net cash flow from operating activities

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AFRO INNOVATION GROUP

Notes to the Accounts for the year ended 31 March 2023

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Going Concern

The charitable activities are entirely dependent on continuing grant aid and voluntary donations As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 March 2024, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.

Risks and future assumptions

The charity is a public benefit entity.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the donations and grants received from various organisations.

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Accounting for deferred income and income received in advance

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AFRO INNOVATION GROUP

Notes to the Accounts for the year ended 31 March 2023

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

Membership subscriptions

The income and any associated Gift Aid or other tax refund from a membership subscription received by the charity in the nature of a gift, is accounted for on the same basis as a donation.

The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers.

Tangible fixed assets

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AFRO INNOVATION GROUP

Notes to the Accounts for the year ended 31 March 2023

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.

Freehold premises 0 % straight line
Leasehold premises 2 % straight line
Plant and machinery 20 % straight line
Motor vehicles 25 % straight line

A regular annual review of the likelihood of asset impairment is undertaken.

Stocks and work in progress

Stock is valued at the lower of cost and net realisable value.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Creditors and provisions

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Financial instruments including cash and bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Leasing and hire purchase contracts and commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the charity, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pensions - defined contribution schemes

The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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AFRO INNOVATION GROUP

Notes to the Accounts for the year ended 31 March 2023

Pensions - defined benefit schemes

The charity operates a defined benefit pension scheme. Contributions are charged to the profit and loss account and liabilities are accounted for in accordance with the principles set out in module 17 of the SORP.

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 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 on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Net surplus before tax in the financial year

Net surplus before tax in the financial year
2023
£
The net surplus before tax in the financial year is stated after charging:-
Pension costs 5,840

5 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

6 Staff costs and emoluments

Salary costs
Gross Salaries excluding trustees and key management personnel
Employer's contribution to defined benefit pension schemes
Total salaries, wages and related costs
The average number of part time staff employed in the year was
The average number of full time staff employed in the year was
The estimated full time equivalent number of all staff employed in the year was		 2023
£
111,721
5,840
117,561
1
4
4

Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.

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AFRO INNOVATION GROUP

Notes to the Accounts for the year ended 31 March 2023

8 Remuneration and payments to Trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

9 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year 2023 £ PAYE, NIC VAT and other taxes 2,441

10 No related party transactions

There were no transactions with related parties in the year.

11 Particulars of how particular funds are represented by assets and liabilities

At 31 March 2023
Current Assets
Current Liabilities
At 1 April 2022		 Unrestricted
funds
£
167,521
(2,441)		 Designated
funds
£
-		 Restricted
funds
£
74
-
165,080 - 74
Unrestricted
funds
£		 Designated
funds
£		 Restricted
funds
£
- - -

12 Change in total funds over the year as shown in Note 11 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Total unrestricted and designated funds
Restricted funds:-
Bangladesh Positive Communities
Total restricted funds		 Funds brought
forward from
2022
£
-		 Movement in
funds in 2023
See Note 13
£
165,080		 See Note 0
£
-
Transfers
between
funds in 2023
- 165,080 -
- 74 -
- 74 -

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AFRO INNOVATION GROUP

Notes to the Accounts for the year ended 31 March 2023

Total charity funds
-
165,154
Analysis of movements in funds over the year as shown in Note 12
Income
Expenditure
2023
2023
£
£
Unrestricted and designated funds:-
Unrestricted Revenue Funds
204,357
(39,277)
Restricted funds:-
NHS Integrated Care Board (ICB)
21,175
(21,175)
Leicester City Council
19,420
(19,420)
Shires Multiply Grant
10,000
(10,000)
Big Lottery Community Fund
118,872
(118,872)
Bangladesh Positive Communities
18,126
(18,052)
Swire Charitable Trust
19,740
(19,740)
Pargiter - Voice4Change England
5,000
(5,000)
416,690
(251,536)		 - 165,154 -
Other
Gains &
Losses
2023
£
-
-
-
-
-
-
-
-
416,690 (251,536) -

13 Analysis of movements in funds over the year as shown in Note 12

14 Ultimate controlling party

The charity is under the control of its legal members.

19

AFRO INNOVATION GROUP

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

16 Donations, Grants and Legacies

Donations and gifts from individuals
Tudor Trust
Revenue grants and donations from non
public bodies
Afro Innovation (Charity number 1124885)
AB Charitable Trust
Big Lottery Community Fund
Bangladesh Positive Communities
NHS Integrated Care Board (ICB)
Leicester City Council
Shires Multiply Grant
Total public sector revenue grants
Revenue grants from government and
public bodies
Total donations and gifts from
individuals
Small donations individually less than £1000		 Current year
Unrestricted
Funds
2023
£
280		 Current year
Restricted
Funds
2023
£
-
-
Current year
Restricted
Funds
2023
£
21,175
19,420
10,000
50,595
Current year
Restricted
Funds
2023
£
-
118,872
-
-
18,126		 Current year
Total Funds
2023
£
280
280 280
Current year
Unrestricted
Funds
2023
£
-
-
-		 Current year
Total Funds
2023
£
21,175
19,420
10,000
- 50,595
Current year
Unrestricted
Funds
2023
£
108,077
-
42,000
20,000
-		 Current year
Total Funds
2023
£
108,077
118,872
42,000
20,000
18,126

20

AFRO INNOVATION GROUP

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

25,000
-
5,000
4,000
-
204,077
Total Donations, Grants and
Legacies
204,357
17 Expenditure on charitable activities - Direct spending
Current year
Current Year
Unrestricted
Funds
2023
£
-
-
11,200
-
-
-
1,170
-
-
-
Total direct spending
12,370
Lloyds Bank Foundation
Urban Church
Total private sector revenue grants
Edith Murphy Foundation
Swire Charitable Trust
Pargiter - Voice4Change England
Defined benefit pension costs -
charitable activities
Sessional Workers
Gross wages and salaries - charitable
activities
Community Integration Events,
Art,performances
Consultancies and Sub Contract
Payments
Volunteer and Staff Expenses
Temporary Staff - Charitable Activities
Marketing and advertising of charitable
services
Professional Indemnity insurance
Travel and Subsistence - Charitable
Activities		 25,000
-
5,000
4,000
-		 -
19,740
-
-
5,000
161,738		 25,000
19,740
5,000
4,000
5,000
365,815
204,077
204,357 212,333
Current year
Restricted
Funds
2023
£
100,521
5,840
-
1,400
5,192
42,090
1,960
4,181
1,974
30,447
193,605		 416,690
Current year
Total Funds
2023
£
100,521
5,840
11,200
1,400
5,192
42,090
3,130
4,181
1,974
30,447
205,975
12,370

18 Expenditure on charitable activities- Grant funding of activities

Current year Current year Current year
Unrestricted Restricted Total Funds
Current Year Funds Funds
2023 2023 2023

21

AFRO INNOVATION GROUP

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

£
£
-
15,300
Total grantmaking costs
-
15,300
Current year
Current year
Current Year
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
Afro Innovation International
Development Fund
-
15,300
-
15,300
19
Current year
Current year
Current Year
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
Premises Expenses
9,186
-
2,612
-
2,286
-
1,485
-
Administrative overheads
282
-
4,422
-
1,973
650
3,327
-
Professional fees paid to advisors other than the auditor or examiner
1,024
-
216
2,704
Financial costs
94
-
Total support costs - Current Year
26,907
3,354
Bank charges
Accountancy fees other than
examination or audit fees
Light heat and power
Premises repairs, renewals and
maintenance
Rent payable under operating leases
Support costs for charitable activities
Breakdown of Grants made to organisations
Grants made to organisations
Equipment expenses
Software licences and expenses
Stationery and printing
Cleaning and waste management
Office/General Administrative
Expenses
Other legal and professional		 £
15,300
15,300
Current year
Total Funds
2023
£
15,300
15,300
Current year
Total Funds
2023
£
9,186
2,612
2,286
1,485
282
4,422
2,623
3,327
1,024
2,920
94
30,261

22

AFRO INNOVATION GROUP

Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015

20 Total Charitable expenditure
Current Year
Total direct spending
Total grantmaking costs
Total support costs
Total charitable expenditure		 Current year
Unrestricted
Funds
2023
£
12,370
-
26,907		 Current year
Restricted
Funds
2023
£
193,605
15,300
3,354
212,259		 Current year
Total Funds
2023
£
205,975
15,300
30,261
251,536
39,277

23