2024-03-31-accounts - Nann-K Trust

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REGISTERED COMPANY NUMBER: 12819225 (England and Wales)
REGISTERED CHARITY NUMBER: 1192032

`NANN-K TRUST`

(A COMPANY LIMITED BY GUARANTEE)

`REPORT OF THE TRUSTEES AND`

`FINANCIAL STATEMENTS`

FOR THE YEAR ENDED 31 MARCH 2024

Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

NANN-K TRUST
(A COMPANY LIMITED BY GUARANTEE)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 10
Detailed Statement of Financial Activities 11
----- End of picture text -----

NANN-K TRUST
(A COMPANY LIMITED BY GUARANTEE)

`REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024`

TRUSTEESS N Newman - Chair
J J Kowalska
J B Sauven
REGISTERED OFFICE4th Floor Tuition House
27/37 St George's Road
Wimbledon
London
SW19 4EU
REGISTERED COMPANY NUMBER 12819225 (England and Wales)
REGISTERED CHARITY NUMBER 1192032
INDEPENDENT EXAMINERHartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

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`NANN-K TRUST (A COMPANY LIMITED BY GUARANTEE)`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024`

TheTrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended31March2024.TheTrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES Objectives and aims`

`Policies and objectives`

Theobjectsofthecharityaretopromotesustainabledevelopmentandpreserve,conserve,protectandimprove the
environment by:

- ameliorating the effects of desertification in the Sahel Region of Africa primarily focussing on (but not limited to)
   Senegal;

promoting the prudent use of resources;
promoting sustainable means of achieving economic growth and regeneration; relieving poverty and improving the conditions of life in socially and economically disadvantaged communities;
advancing education in subjects relating to desertification and more broadly sustainable development and the protection, enhancement and rehabilitation of the environment; and
such other purposes as are charitable in accordance with the laws of England and Wales.

TheTrustfurthersitscharitablepurposesforthepublicbenefitthroughundertakingactivitiesdirectlyand through
makinggrantstootherorganisations,tosupportwork,whichfocussesprimarilytoendtheimpactofdesertification in
theSahelRegionofAfricathroughenablingcommunitiesintheSaheltocombatclimatechange.TheTrust'swork is
envisagedtoincludesupportingthesustainableuseofnaturalresourcesincludingrenewableenergyandlow impact
farming, and helping local communities restore their land including through planting trees and natural regeneration.

TheTrusteesconfirmthatwhenplanningandimplementingtheTrust'sactivitiestheycomplywiththeCharitiesAct 2011
in regards to the requirement that all of the charity's work is of direct benefit to the public.

`Public benefit`

TheTrusteeshavehadregardtotheCharityCommissionguidanceonpublicbenefitinplanningtheactivitiesof the
charity.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

Thisisthecharity'sthirdyearofoperationinwhichitreceiveddonationstotalling£98,460(2023£113,139). The
majorityofthesefundswererestrictedtofurtherdevelopingtheTrust'sinauguralprojecttosustainably develop
community-ownedlandsalongtheSenegalRiverinandaroundPodor,thenorthernmosttowninSenegal, through
implementing best practice use of solar power and regenerative agriculture.

Thefirstelementsoftheproject,thesolarwaterpump,avisitorsandtrainingcentreandtransporttotakeproduce to
markets,arenowfullyoperational.Thesolarwaterpumphasbeensuccessfullyirrigating50hectaresoffarmland. The
landbeingirrigatedproducesavarietyoffruitandvegetables,whichsupportthelocalcommunitiescreatingboth jobs
andfood.Thevisitorsandtrainingcentrehasbeenbuilttoenableeducationalandcommunityactivitiesrelatedto the
project to take place.

Theprojecthasnowbeenfurtherdevelopedwiththeadditionofasolarpoweredstoragefacilitytoreduce post-harvest
lossesbyprolongingtheshelflifeofproduce.Thestoragefacilityhasbeenlocatedinanareawhichhaseasyaccess for
all of the community to use.

Thisisthelargestsolarpoweredirrigationsysteminthecountryandthefirstsolarpoweredstoragefacilityofthiskind in
Senegal, which further reinforces the projects role to disseminate best practise in the region.

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`NANN-K TRUST (A COMPANY LIMITED BY GUARANTEE)`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024`

`FINANCIAL REVIEW`

`Financial position`

Thecharity,havingaccumulatedasurplusinitsfirsttwoyearsofoperationamountingto£72,116hassoughtto apply
someofthosefundstowardsitscharitableobjectiveswhilstreceivinganadditional£98,460infundinginthecurrent year
(2023 £113,139).

Charitableexpenditureamountedto£118,363(2023£68,745)resultingasurplusofexpenditureoverincomeinthe year
of£19,903(2023surplusofincomeoverexpenditureof£44,394)andareductioninthelevelofreservesheld from
£72,116 at 31 March 2023 to £52,213 at the year end.

`Principal funding sources`

The foundation is primarily funded by donations.

`Reserves policy`

TheTrusteesbelievethereisnoneedtosetaminimumlevelofreservesasactivityexpenditureisrelateddirectly to
current levels of income. They consider this approach to be sufficient given the nature of the charity.

`Going concern`

Aftermakingappropriateenquiries,theTrusteeshaveareasonableexpectationthatthecharityhasadequate resources
tocontinueinoperationalexistencefortheforeseeablefuture.Forthisreason,theycontinuetoadoptthegoing concern
basis in preparing the financial statements.

`FUTURE PLANS`

Thecharity'splanintheshorttermistosupportthecommunityintheregiontofurtherimbedanddevelopthe project
guidedbytheirplansandneeds.Thiswillincludemaximisingtheuseofthesolarpoweredstoragefacilityby working
withfarmerstoensurethatthefacilitymeetstheirneedtopreventthelossofproducefromtheheatandenable better
pricesbystaggeringthetimingofsalestomarket.Inaddition,thecharitywillconsolidateitsroleinsharingbest practice
andsupportingthewidereco-systemofcommunityandenvironmentalprojectsintheregiontocometogether through
further utilising the visitor and training centre for educational and community activities.

Buildingonthesuccessofthecharity'sflagshipproject,thecharitywillidentifyothersustainabledevelopmentprojects it
canenable,andpartnershipsitcanforge,whereitbelievesitcanmakethemostimpactincombattingclimatechange in
Senegal through building sustainable communities, food and energy.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

`Recruitment and appointment of new trustees`

Any new Trustees are appointed by the existing Trustees who are also responsible for their induction.

No new Trustees have been appointed in the year ended 31 March 2024.

Approved by order of the board of trustees on 9 December 2024 and signed on its behalf by:

S N Newman - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NANN-K TRUST
(A COMPANY LIMITED BY GUARANTEE)

`Independent examiner's report to the trustees of Nann-K Trust (A company limited by guarantee) ('the Company')`

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

`Responsibilities and basis of report`

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsible for
the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsas carried
outunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the
Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.

`Jonathan Askew FCA`

The Institute of Chartered Accountants in England and Wales

Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House

27-37 St George's Road
Wimbledon
London
SW19 4EU

9 December 2024

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`NANN-K TRUST`

`(A COMPANY LIMITED BY GUARANTEE)`

`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024`

`Unrestricted` `Restricted` `fund` `fund` `Notes` `£` `£` `INCOME AND ENDOWMENTS FROM` `Donations and grants` `5,000` `93,460` `EXPENDITURE ON` `Charitable activities` `2` `Direct charitable expenditure` `3,253` `115,110` `NET INCOME/(EXPENDITURE)` `1,747` `(21,650)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `1,154` `70,962` `TOTAL FUNDS CARRIED FORWARD` `2,901` `49,312`	`2024` `Total` `funds` `£` `98,460` `118,363` `(19,903)` `72,116` `52,213`	`2023` `Total` `funds` `£` `113,139`
		`68,745`
		`44,394` `27,722`
		`72,116`

The notes form part of these financial statements

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`NANN-K TRUST`

`(A COMPANY LIMITED BY GUARANTEE) (REGISTERED NUMBER: 12819225)`

`BALANCE SHEET`

`31 MARCH 2024`

`Unrestricted` `Restricted` `fund` `fund` `Notes` `£` `£` `CURRENT ASSETS` `Debtors` `6` `5,000` `-` `Cash at bank` `1,565` `49,312` `6,565` `49,312` `CREDITORS` `Amounts falling due within one year` `7` `(3,664)` `-` `NET CURRENT ASSETS` `2,901` `49,312` `TOTAL ASSETS LESS CURRENT LIABILITIES` `2,901` `49,312` `NET ASSETS` `2,901` `49,312` `FUNDS` `8` `Unrestricted funds` `Restricted funds` `TOTAL FUNDS`	`2024` `Total` `funds` `£` `5,000` `50,877` `55,877` `(3,664)` `52,213` `52,213` `52,213` `2,901` `49,312` `52,213`	`2023` `Total` `funds` `£` `1,408` `75,508` `76,916` `(4,800)` `72,116` `72,116` `72,116` `1,154` `70,962` `72,116`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 March 2024.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9December2024 and
were signed on its behalf by:

S N Newman - Trustee

The notes form part of these financial statements

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`NANN-K TRUST (A COMPANY LIMITED BY GUARANTEE)`

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financial statements have been prepared under the historical cost convention.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

`2. CHARITABLE ACTIVITIES COSTS`

`Direct charitable expenditure` `3.` `SUPPORT COSTS` `Direct charitable expenditure`	`Support` `Direct` `costs (see` `Costs` `note 3)` `Totals` `£` `£` `£` `115,110` `3,253` `118,363` `Governance` `costs` `£` `3,253`

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`NANN-K TRUST (A COMPANY LIMITED BY GUARANTEE)`

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2024`

`3. SUPPORT COSTS - continued`

Support costs, included in the above, are as follows:

`Governance costs`

`Governance costs`
	`2024`	`2023`
	`Direct`
	`charitable`	`Total`
	`expenditure`	`activities`
	`£`	`£`
`Independent examiners fees (net of VAT)`	`2,300`	`2,472`
`Other accounting charges`	`953`	`2,800`
	`3,253`	`5,272`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2024norfortheyear ended
31 March 2023.

`Trustees' expenses`

There were no  trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`Unrestricted` `Restricted` `fund` `fund` `£` `£` `INCOME AND ENDOWMENTS FROM` `Donations and grants` `5,000` `108,139` `EXPENDITURE ON` `Charitable activities` `Direct charitable expenditure` `5,272` `63,473` `NET INCOME/(EXPENDITURE)` `(272)` `44,666` `RECONCILIATION OF FUNDS` `Total funds brought forward` `1,426` `26,296` `TOTAL FUNDS CARRIED FORWARD` `1,154` `70,962`	`Total` `funds` `£` `113,139`
	`68,745`
	`44,394` `27,722`
	`72,116`

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NANN-K TRUST
(A COMPANY LIMITED BY GUARANTEE)

`NOTES TO THE FINANCIAL STATEMENTS - continued`

`FOR THE YEAR ENDED 31 MARCH 2024`

6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
7.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
8.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS 2024
2023
£
£
5,000
1,408
2024
2023
£
£
3,664
4,800
Net
movement
At
At 1/4/23
in funds
31/3/24
£
£
£
1,154
1,747
2,901
70,962
(21,650)
49,312
72,116
(19,903)
52,213
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
5,000
(3,253)
1,747
93,460
(115,110)
(21,650)
98,460
(118,363)
(19,903)
Net
movement
At
At 1/4/22
in funds
31/3/23
£
£
£
1,426
(272)
1,154
26,296
44,666
70,962
27,722
44,394
72,116

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`NANN-K TRUST (A COMPANY LIMITED BY GUARANTEE)`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024`

`8. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

`Unrestricted funds` `General fund` `Restricted funds` `Restricted fund` `TOTAL FUNDS`	`Incoming` `Resources` `Movement` `resources` `expended` `in funds` `£` `£` `£` `5,000` `(5,272)` `(272)` `108,139` `(63,473)` `44,666` `113,139` `(68,745)` `44,394`

`9. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 March 2024.

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`NANN-K TRUST (A COMPANY LIMITED BY GUARANTEE)`

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES`

`FOR THE YEAR ENDED 31 MARCH 2024`

	`2024`	`2023`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and grants`
`Donations`	`98,460`	`113,139`
`Total incoming resources`	`98,460`	`113,139`
`EXPENDITURE`
`Charitable activities`
`Solar powered irrigation costs`	`106,647`	`54,553`
`Casual wages`	`8,463`	`8,920`
	`115,110`	`63,473`
`Support costs`
`Governance costs`
`Independent examiners fees (net of VAT)`	`2,300`	`2,472`
`Other accounting charges`	`953`	`2,800`
	`3,253`	`5,272`
`Total resources expended`	`118,363`	`68,745`
`Net (expenditure)/income`	`(19,903)`	`44,394`

This page does not form part of the statutory financial statements

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