## **Reseed** Annual Accounts for the period 1[st] Jan 2024 to 31[st] Dec 2024 Charity Commission Registration Number 1197149 20 Stanley Avenue, Beckenham, Kent BR3 6PX https://reseed.org.uk Lauren Campbell Chair of Board of Trustees Approved by the Trustees on 26[th] February 2025 Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report Report to the trustees** RESEED **On accounts for the year** 31/12/2024 **Charity no** 1197149 **ended (if any) Set out on pages** N/A I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31 / 12 / 2024** . **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and 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. **Independent** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. - _Please delete the words in the brackets if they do not apply._ **Signed:** J BIRCH **Date:** 09/03/2025 **Name:** JACK NICHOLAS BIRCH **Relevant professional** Jack Nicholas Birch (ACMA CGMA), (1-26C4U4X CIMA ID). **qualification(s) or body (if any):** 1 **Oct 2018** **IER** Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 **Address:** #06-235, 991B Buangkok Link, Buangkok, Singapore, 532991. ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . N/A. 2 **Oct 2018** **IER** Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 ## **Reseed** ## **Charity Commission for England and Wales, No. 1197149 Balance Sheet - Comparative** ## **As at December 31, 2024** ||**31 Dec 2024**|**31 Dec 2023**|| |---|---|---|---| |_Current Assets_|||| |Debtors|-2|2,027|| |Cash At Bank And In Hand|37,456|25,841|| |_Creditors_|||| |Trading Creditors|-6|-115|| |Other Creditors|-539|-627|| |**Net Assets**|**36,909**|**27,125**|| |_Funds & Reserves_|||| |Restricted Funds|36,494|7,921|| |Unrestricted Designated Funds|2,750|3,546|| |Unrestricted General Funds|-2,335|15,657|| |**Funds Provided**|**36,909**|**27,125**|| Page 1 of 1 Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 29-Jan-2025 12:23 ## **Reseed** ## **Statement of Financial Activities (Income & Expense)** ## **Jan 1[st] 2024 to Dec 31[st] 2024 (compared to Jan 1[st] 2023 to Dec 31[st] 2023)** ||**Unrestricted**|**Restricted**|**Endowment**|**Total**|**Prior Year**| |---|---|---|---|---|---| |_Income_|||||| |Income and Endowments|||||| |Income from Donations and Legacies|||||| |Donations|44,650|||44,650|59,018| |Gift Aid Claimed|6,372|||6,372|13,776| |Grants- Non Recurring||27,901||27,901|21,200| |Grants - Recurring||19,076||19,076|| |Investment Income|||||| |Interest Received|148|||148|47| |Other Incoming Resources|||||| |Fundraising Event Tickets|2,588|||2,588|| |**Total Income**|**53,757**|**46,977**|**0**|**100,733**|**94,040**| |_Expenses_|||||| |Expenditure|||||| |Charitable Activities|69,276|18,404||87,680|78,608| |Expenditure on Raising Funds|3,269|||3,269|2,000| |**Total Expenses**|**72,545**|**18,404**|**0**|**90,949**|**80,608**| |**Net Resource Movement**|**-18,788**|**28,572**|**0**|**9,784**|**13,432**| |**Net Movement in Funds**|**-18,788**|**28,572**|**0**|**9,784**|**13,432**| |**Total Funds Brought Forward**|**19,204**|**7,921**|**0**|**27,125**|**13,432**| |**Total Funds Carried Forward**|**415**|**36,494**|**0**|**36,909**|**27,125**| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 ## **Trustees’ Annual Report for the period** **Period start date from:** 1[st] Jan 2024 to Period end date: 31[st] Dec 2024 **Charity name:** Reseed **Charity registration number:** 1197149 ## **Objectives and Activities** ||SORP
reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The relief of poverty by supporting sustainable livelihoods
programmes in Sierra Leone.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17
and 1.19|Our principal activities focus on raising funds to support and give
grants to our partner, Reseed Sierra Leone, to implement
planned sustainable livelihoods programmes in Sierra Leone.
Sustainable livelihoods can encompass many paths of support,
our activities in 2024 focused on three main pillars in urban and
rural settings in Sierra Leone: Microfinance/Access to Finance,
Agriculture, Up-skilling & Employability.
We believe that, by creating sustainable employment and
empowering individuals and communities to reach financial
stability, we can lift thousands of people out of poverty.
We work with a local team embedded within communities in
Sierra Leone to deliver economic empowerment projects.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|In planning our activities for the year, we continued to keep in
mind the Charity Commission’s guidance on public benefit.| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP
reference|| |---|---|---| |Policy on grant making|Para 1.38|We have no plans at present to make grants from our own funds
to anyone else other than to our dedicated local partner team
embedded in Sierra Leone, Reseed Sierra Leone (RSL)| |Policy on social investment
including program related
investment|Para 1.38|As indicated above, our Policy on Social Investment is key to all
our activities in Sierra Leone, focussing on Microfinance,
Agriculture, Up-skilling and Employability.| |Contribution made by
volunteers|Para 1.38|We have a small team of Volunteers in the UK assisting with
managing all the finance, governance and admin issues required| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 of a registered charity. We are very grateful for their efforts and expertise. Other **N/A** ## **Achievements and Performance** ||SORP
reference||| |---|---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20||We’re happy to report that in 2024 we distributed 218 low
interest loans directly supporting 299 people empowering
individuals and communities across Sierra Leone.
- 54 group loans
- 164 individual loans
- 138 repeat beneficiaries:
2024 has also seen Reseed be able to support 25 people with
disabilities or caregivers with disabled children meaning a total
of 49 disability specific loans have been distributed over the last
18 months.
Several persons with disabilities and care givers of disabled
children beneficiaries graduated into the full Microfinance/
access to finance programmes, moving to level 2 and 3 in the
latter part of 2024 and receiving a second larger business loan
to expand their businesses further. This is part of our vision to
support the most vulnerable in society over the long term.
It has always been a medium and long term aim of ours to use
our embedded expertise to work closely and ideally in
Partnership with like-minded funders and charities and this was
achieved in the latter part of 2024 by us partnering with Prosper
https://www.prosp-er.org(see ‘Additional Information’ section
below)
An initial funding grant of £19,076 was received by the end of
the year with more to follow in 2025.
The agriculture programme has grown into six new communities,
supporting 30 farms and 220 farmers. The latter part of 2024
saw these communities receive yield booster and crop
diversification support with the support of one grant funder. With
hopes of further phases of the agriculture programme design to
be funded and implemented in 2025.
In November, the up-skilling programme saw four young people
graduate from their two year courses at the local vocational
schools and six more continue or start their studies in a mixture
of programmes – electrical engineering, plumbing, nursing,
computer science and catering.
The bike shops programme – a blend of access to finance and
upskilling – saw one brand new shop established and 4 existing
shops supported, plus additional mechanics training delivered.| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 |**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:|**Additional information (optional)**
You may choose to include further statements where relevant about:| |---|---|---| |Achievements against
objectives set|Para 1.41|2024 Access to Finance beneficiaries: Female: 272 Male: 27
Estimated semi-direct beneficiaries: inc family, employees etc
May 2024: 755 (May 2023: 530) Nov 2024: 740 (Nov 2023: 730)
2024 Agriculture beneficiaries: 220 farmers (direct), estimated
1,100 indirect)
2024 Up-skilling beneficiaries: 10
2024 Bike shops: 5| |Performance of fundraising
activities against objectives
set|Para 1.41|A concerted effort in 2024 to identify and contact with potential
Grant funders resulted in a total of £27,901 (2023, £21,200) in
funding from 10 (2023, 7) different funders being received in the
year.
Additionally, over £7,500 has now been raised during 2023 &
2024 for our designated ‘Bike Shops’ project in conjunction with
Bigfoot Cycle Club based in Bromley leading to 5 Bike Shops
now set up in Northern Provence Sierra Leone.
In December 2024, we ran another successful fundraising
campaign on social media and through our newsletters which
specifically focused on increasing our monthly donors as we
look forward to 2025.| |Investment performance
against objectives|Para 1.41|**N/A**| |Other||**N/A**| ## **Financial Review** |Review of the charity’s
financial position at the end
of the period|Para 1.21|We have improved the diversity of our cashflow by increasing
our regular donor numbers to 45 plus other supporters
donating as and when, thereby making ourselves less reliant
on donations from our founder that will continue at present
however.
The debtor ratio from our Micro-finance projects continues to
be much lower than we anticipated meaning the amount of
funds available for recycling back into the project on the
ground is more, hence we can help more people.
Our increased cashflow has meant we have been able to
increase our cash reserves during 2024 by approx 50% to
provide greater security for our employees and potential
funders alike.| |---|---|---| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 |||With the double benefit of the increase in our turnover for
2024 being in excess of £100k, and now having 3 years
trading accounts, we are now able to apply to more potential
Grant Funders where such requirements are fundamental.| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|As a charity with very low running costs in order to focus all
our efforts on working with the people of Sierra Leone, and
only entering our fourth year of operation, we have calculated
that the level of cash reserves required by us to ensure we
could meet any winding up obligations to our employees, plus
provide a buffer for unforeseen circumstances should be the
equivalent of three months expenditure amounting to £20,000
approx based on our 2025 budget.| |Amount of reserves held|Para 1.22|As at 31st December 2024 we have £12,778 reserves (up
from £8,700 at 31/12/23) in a designated savings bank
account held with the Co-op Bank in the UK and are
committed to paying a minimum of £100pm by DDM to this
account plus other unrestricted funds as available following a
review at each Trustee board meeting and at the end of each
calendar year.| |Reasons for holding zero
reserves|Para 1.22|**N/A**| |Details of fund materially in
deficit|Para 1.24|**N/A**| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**N/A**| **Additional information (optional)** You may choose to include further statements where relevant about: ||The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|Our core funding source remains our many individual
members and supporters who both contribute monthly by
Direct Debit and/or one off contributions.
Such funds attracted Gift Aid from UK taxpayers which we
diligently follow up with HMRC!
Funds for our ‘Bike Shops’ during 2023 and 2024 has
primarily come from functions organised in conjunction with
Bigfoot Cycle Club including Quiz Nights, sales of branded
caps and ruffs, raffles and generous contributions made by
the Club itself for which we are grateful but has now ended
having provided us with sufficient funding to start up or further
support 5 Bike Shops in the Northern Province of Sierra
Leone.
We also held a ‘Summer Quiz Night’ in central London in July
which raised a net £2,500 with nearly 100 supporters
attending. We aim to repeat in 2025.
Grants from Trusts and Foundations continue to fund
programmatic work in Sierra Leone.| |---|---|---|---| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 |||2024 also saw Reseed receive it’s first support from a Rotary
organisation in November.| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|Currently all funds are held in in three cash bank accounts in
the UK with outlets who have good reputation for charity
banking. Two with Co-op Bank and one with Unity Trust Bank| |A description of the principal
risks facing the charity|Para 1.46|They are primarily political, climatic and economic, over which
regrettably we have no control.
The biggest challenge for our Access to Finance programme
in 2024 was in fact climate change. 2022 and 2023 saw
relatively normal weather conditions; the rains stopped in
August and businesses and lives jumped back into action in
September, schools opened, Business as Usual.
The latter part of 2024 however saw extreme weather take its
toll in Sierra Leone. Heavy rains continued into October,
eased in November and only stopped in December. This was
extremely problematic to many businesses and people who
had been granted a low interest loan in May and for the first
time ever, repayments were low and challenging.
Our field team fed back that our loanees had simply not been
able to make enough money and paying back would cripple
their small business, and they asked could we grant
extensions?
Quite simply, yes. In each programme cycle the capital we
collect from loans feeds back and gets distributed again
which means capital investment in the programme is
essentially doubled. In November, we distributed the capital
we had in the bank plus additional capital from 2024 grants –
148 people – less than in May.
We decided that we’d disburse loans again in early 2025,
effectively giving extensions of up to three months for those
struggling to pay back due to the rains. This capital collected
from the extensions is now being allocated to potentially
disburse a small amount of loans in January and February
2025 and then full programme capital will be fully available to
be allocated in the regular scheduled May disbursement.| |Other||**N/A**| ## **Structure, Governance and Management** |Description of charity’s trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|CIO Association (model constitution)| |How is the charity constituted?
(e.g unincorporated association, CIO)|Para 1.25|Charitable Incorporated Organisation (CIO)| |Trustee selection methods including
details of any constitutional provisions
e.g. election to post or name of any|Para 1.25|Trustees are appointed or re-appointed at each
AGM by the Trustee Board| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 person or body entitled to appoint one or more trustees ## **Additional information (optional)** You may choose to include further statements where relevant about: |Policies and procedures
adopted for the induction
and training of trustees|Para
1.51|Referral to relevant Charity Commission website Trustee
information and other sites such as NVCO etc| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para
1.51|**Sierra Leone based;**our COO was based there for 9 months in
2024 working with our implementation partner, Reseed Sierra
Leone on the ground. The RSL team consists of 13 Sierra
Leoneans (up from 9 last year) including 1 Operations Director, 2
Programme Managers, 4 Business Officers, 3 Business Skills
facilitators, 1 Office Support and 2 night/weekend Security.
**UK based;**our COO (for approx 3 months) plus two
Finance/Admin volunteers.| |Relationship with any
related parties|Para
1.51|Reseed Sierra Leone (RSL) is our key on-site implementation
partner.
With effect from late 2024 we were very happy to sign a
partnership Agreement with a very like-minded charitable
organisation Prosper www.prosp-er.orglooking to utilise our on the
ground implementation expertise to deliver their objectives within
Sierra Leone which are very similar to ours. Through this
partnership, Prosper’s training programs will be introduced in the
Port Loko District in Northern Sierra Leone. The programme
focuses on delivering image based business skills learning for low
literacy women.
Prosper CEO, Fred Fenwick, remarked:_“This partnership marks a_
_significant milestone for both organizations, blending Reseed's_
_deep local knowledge and reach with Prosper's expertise in_
_delivering transformative, image-based training. Together, we’re_
_creating pathways for women in underserved communities to build_
_sustainable livelihoods and strengthen their financial resilience,”_
_Starting in September 2024, we’ll be launching the program with_
_select groups in the new district, focusing on essential skills that_
_empower participants to manage their finances and grow their_
_income-generating activities. Three local workshop facilitators have_
_been trained to deliver impactful, results-driven business skills_
_across various communities._| |Other||N/A| ## **Reference and Administrative details** |Charity name|**Reseed**| |---|---| |Other name the charity uses|**N/A**| Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 Registered charity number **1197149** Charity’s principal address **20 Stanley Avenue BECKENHAM Kent BR3 6PX** ## **Names of the charity trustees who manage the charity** |1
2
3
4|**Trustee name**|**Office (if any)**|**Dates acted if not**
**for whole year**|**Name of person (or**
**body) entitled to**
**appoint trustee (if**
**any)**| |---|---|---|---|---| ||Lauren Catherine Campbell|Chair of Trustees|18th March 2024|Trustee Board| ||Donald Rust|||| ||Daniel Paul Harris|||| ||Edward AnthonySmythe|||| Corporate trustees – names of the directors at the date the report was approved **Director name N/A** Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year**|| |---|---|---| |**N/A**||| ## **Funds held as custodian trustees on behalf of others** |Description of the assets held in this
capacity|**N/A**| |---|---| |Name and objects of the charity on
whose behalf the assets are held and
how this falls within the custodian
charity’s objects|**N/A**| |Details of arrangements for safe custody
and segregation of such assets from the
charity’s own assets|**N/A**| ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of adviser**
**Name**
**Address**||| |**N/A**||| ## **Name of chief executive or names of senior staff members (Optional information)** Roxanne Hargreaves – Chief Operating Officer Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details **N/A** ## **Other optional information** **N/A** ## **Declarations** ## **The trustees declare that they have approved the trustees’ report above.** ## **Signed on behalf of the charity’s trustees** **----- Start of picture text -----**
Signature(s)
Full name(s) Lauren Catherine Campbell Eddy Smythe
Position (eg Secretary, Chair of Trustees
Trustee
Chair, etc)
Date
26.2.2025
**----- End of picture text -----**
Doc ID: ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32 ||| |---|---| ||Final Reseed Accounts and TAR to sign
1._Cover_V2.pdf and 4 others
ba42c7a1d6ba9e51de65fafdcfde3858aa34cb32
MM / DD / YYYY
Signed
**03 / 17 / 2025**
15:14:16 UTC
Sent for signature to Lauren Campbell
(laurencampbell2011@gmail.com) and Eddy Smythe
(eddy.smythe999@gmail.com) from roxanne@reseed.org.uk
IP: 86.166.40.149
**03 / 17 / 2025**
15:27:28 UTC
Viewed by Eddy Smythe (eddy.smythe999@gmail.com)
IP: 86.145.32.56
**03 / 17 / 2025**
15:28:19 UTC
Viewed by Lauren Campbell (laurencampbell2011@gmail.com)
IP: 213.86.255.249
**03 / 17 / 2025**
15:29:06 UTC
Signed by Eddy Smythe (eddy.smythe999@gmail.com)
IP: 86.145.32.56
**03 / 24 / 2025**
16:57:39 UTC
Signed by Lauren Campbell (laurencampbell2011@gmail.com)
IP: 149.34.174.223
The document has been completed.
**03 / 24 / 2025**
16:57:39 UTC| |||