REGISTERED COMPANY NUMBER: CE029519 (England and Wales)
REGISTERED CHARITY NUMBER: 1199415
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2024
for
The Africa College Foundation (Uk)
Nordens Audit Limited
Statutory Auditors
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
The Africa College Foundation (Uk)
Contents of the Financial Statements
for the Year Ended 31 December 2024
|
Page |
Report of the Trustees |
1 to 3 |
Report of the Independent Auditors |
4 to 7 |
Statement of Financial Activities |
8 |
Balance Sheet |
9 |
Notes to the Financial Statements |
10 to 13 |
Detailed Statement of Financial Activities |
14 to 15 |
The Africa College Foundation (Uk)
Report of the Trustees
for the Year Ended 31 December 2024
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2024.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advanceandpromotelearningandeducationatorinconnectionwiththeMaharishiInvincibilityInstitute(MII) in
South Africa and elsewhere through the provision of grants of financial assistance.
Significant activities
TheCIOhaspowertodoanythingwhichiscalculatedtofurtheritsobjectivesorisconductiveorincidentalto doing
so. In particular, the CIO has power to:
a.borrowmoneyandtochargethewholeoranypartofitspropertyassecurityfortherepaymentofthe money
borrowed.TheCIOmustcomplyasappropriatewithsections124and125oftheCharitiesAct2011ifitwishes to
mortgage land.
b. buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and equip it for use.
c. sell,lease or otherwisedisposeof all or anypartof the propertybelongingto the CIO. In exercisingthispower, the
CIO much comply with sections 117 and 119-123 of the Charities Act 2011.
d.employandremuneratesuchstaffasarenecessaryforcarryingouttheworkoftheCIO.TheCIOmayemploy or
remunerateacharitytrusteeonlytotheextentthatitispermittedtodosobyclause6(Benefitsandpayments to
charity trustees and connected persons) and provided it complies with the conditions of that clause.
e. depositor investfunds,employa professionalfund-managerandarrangeforthe investmentsor otherproperty of
the CIO to be heldin the name of a nominee,in the same mannerandsubjectto the same conditionsas the trustees
of a trust are permitted to do by the Trustee Act 2000.
f. carryout fundraisingactivities,receive donationsand maintainprofessionalrelationshipswith donorsand partners,
and;
g. disburse funds in line with its objectives.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
We expanded our operations, held and attended fundraising events and activities and helped raise the profile of the Maharishi Institute. We expanded our reach among our target population and supporters and secured a number of grants. We published our first set of brochures, submitted a report on MII's success as a example for eradication of poverty to a relevant United Nations agency, and built trusting relationships with a range of stakeholders to help advance our work in this space. We also be g an a process of expanding our board of trustees and established a team of Goodwill Ambassadors.
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
FollowingtheboardsecuringaCEO,alongwiththethreetrustees,thefoundationworkedtoexpanditstrustees and
established its team of Goodwill Ambassadors during 2024.
Page 1
The Africa College Foundation (Uk)
Report of the Trustees
for the Year Ended 31 December 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE029519 (England and Wales)
Registered Charity number
1199415
Registered office
60 Chesterfield Road
London
EN5 2RF
Trustees
Ms A Biden (resigned 26.7.24)
Ms K Kuper (resigned 30.3.25)
Ms D J Klein (resigned 30.3.24)
Mr L L Andrews (appointed 20.9.24)
Dr A Z Nyamapfene (appointed 20.9.24)
Ms C Bronstein (appointed 17.5.24)
Dr T A P Blecher
Mr J Samuel (appointed 31.3.25)
Mr W Levings (appointed 31.3.25)
Dr S Winter (appointed 30.3.25)
Auditors
Nordens Audit Limited
Statutory Auditors
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsofTheAfricaCollegeFoundation(Uk)forthepurposesofcompanylaw) are
responsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw, the
trusteeshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law).
Undercompanylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygive a
trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplication of
resources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities 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 charitable company will continue in business.
Page 2
The Africa College Foundation (Uk)
for the Year Ended 31 December 2024
Report of the Trustees
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
timethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancial statements
complywith the CompaniesAct 2006. They are also responsiblefor safeguardingthe assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
Theauditors,NordensAuditLimited,willbeproposedforre-appointmentattheforthcomingAnnual General
Meeting.
Approved by order of the board of trustees on 31/10/2025 and signed on its behalf by:
........................................................................
Ms C Bronstein - Trustee
Page 3
Report of the Independent Auditors to the Members of
The Africa College Foundation (Uk)
Opinion
WehaveauditedthefinancialstatementsofTheAfricaCollegeFoundation(Uk)(the'charitablecompany')for the
yearended31December2024whichcomprisetheStatementofFinancialActivities,theBalanceSheetandnotes to
thefinancialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancialreporting framework
thathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law.
OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the
financialstatementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewith the
ethicalrequirementsthatarerelevanttoourauditofthefinancialstatementsintheUK,includingtheFRC's Ethical
Standard,andwe havefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditingthe financialstatements,we have concludedthat the trustees' use of the going concernbasis of accounting
in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or
conditionsthat,individuallyor collectively,may cast significantdoubton the charitablecompany'sabilityto continue
as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilitiesand the responsibilitiesof the trusteeswith respect to goingconcernare describedin the relevant
sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in
the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesriseto a
materialmisstatementin the financialstatementsthemselves.If, based on the work we have performed,we conclude
thatthereis a materialmisstatementof thisotherinformation,we are requiredto reportthatfact.We have nothing
to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 4
Report of the Independent Auditors to the Members of
The Africa College Foundation (Uk)
Matters on which we are required to report by exception
Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedin the
course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothingto reportin respectof the followingmatterswhere the CompaniesAct 2006 requiresus to report to
you if, in our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsof the
charitablecompanyfor the purposesof companylaw) are responsiblefor the preparationof the financial statements
andforbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue to
fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitablecompany'sability to
continueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoing concern
basisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations, or
have no realistic alternative but to do so.
Page 5
Report of the Independent Auditors to the Members of
The Africa College Foundation (Uk)
Our responsibilities for the audit of the financial statements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.Wedesignprocedures in
linewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespectofirregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Weobtainedanunderstandingofthelegalandregulatoryframeworksthatareapplicabletotheentity and
determined that the most significant are those that:
-hadadirecteffectonthedeterminationofmaterialamountsanddisclosuresinthefinancialstatements. These
includebutarenotlimitedtotheCompaniesAct2006,GDPR,employmentandHealth&Safetylegislationand tax
legislation, and
-donothaveadirecteffectonthefinancialstatementsbutcompliancewithwhichmaybefundamentalto the
company'sabilitytooperateortoavoidamaterialpenalty.Theseincludeoperationalandemploymentlaws and
regulations including health and safety regulations, environmental regulations and GDPR.
Weobtainedanunderstandingofhowthecompanyarecomplyingwiththoselegalandregulatoryframeworks by
making enquirieswith managementand those responsiblefor legal and complianceframeworks.We corroborated our
enquiriesthroughreviewofcorrespondencewithregulatorybodiesandgaininganunderstandingoftheentity level
controlsofthecompanyinrespectoftheseareasandthecontrolsinplacetoreduceopportunityfor fraudulent
transactions.
Wediscussedamongtheauditengagementteamincludingrelevantinternaltaxspecialists,regarding the
opportunitiesandincentives,includingmanagementoverrideofcontrols,thatmayexistwithintheorganisation for
fraudandhowandwherefraudmightoccurinthefinancialstatements.Wealsocommunicatedtheapplicable laws
and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
Theriskofmanagementoverrideofcontrolsistheareawherethefinancialstatementsweremostsusceptible to
materialmisstatementduetofraud.Inaddition,thekeyprincipalrisksrelatedtotheexistenceof inappropriate
journal entries to impact the profit for the year and management bias in accounting estimates.
Procedures performed to address these were as follows:
- Walkthroughtestingwas carriedout to identifyand assess the designeffectivenessof controls,managementhave in
placetopreventanddetectfraud,includingknownofsuspectedinstancesornon-compliancewithlaws and
regulations and fraud,
Understandinghow those chargedwith governanceconsideredand addressedthe potentialfor overrideof controls or
other inappropriate influence over the financial reporting process,
-Usinganalyticalprocedurestoidentifyanyunusualorunexpectedrelationshipsthatmayindicaterisksof material
misstatements due to fraud,
-Assessingtheappropriatenessofaccountingestimatesandchallenginganysignificantassumptionsor judgements
made by management,
- Incorporatingtestingofmanualjournalentriesthatwerepostedthroughouttheyear.Inparticular,wefocused on
materialjournalentries,journalentriespostedwithunusualaccountcombinations,andjournalentries crediting
revenue or cash. These were scrutinised for evidence of unusual entries,
Page 6
Report of the Independent Auditors to the Members of
The Africa College Foundation (Uk)
- Selectingspecificrevenue transactionsbased on risk criteriaand obtainingsupportingdocumentationincluding sales
invoice and corresponding purchase documentations to ensure revenue was appropriately recorded,
- Reviewingspecificcost of sale transactionsbased on risk criteriaand reviewinginvoicedocumentationto ensure the
expense was appropriately recorded,
-Evaluatedthebusinessrationaleofanysignificanttransactionsthatareunusualoroutsidethenormalcourse of
business.
Becauseof the inherentlimitationsof an audit,thereis a riskthatwe willnotdetectallirregularities,including those
leadingtoamaterialmisstatementinthefinancialstatementsornon-compliancewithregulation.Thisrisk increases
themorethatcompliancewithalaworregulationisremovedfromtheeventsandtransactionsreflectedin the
financialstatements,as we will be less likelyto become aware of instancesof non-compliance.The risk is also greater
regardingirregularitiesoccurringduetofraudratherthanerror,asfraudinvolvesintentionalconcealment, forgery,
collusion, omission or misrepresentation.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.
Use of our report
This reportis made solely to the charitablecompany'smembers, as a body,in accordancewith Chapter3 of Part 16 of
theCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitable company's
membersthosematterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.To the
fullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthe charitable
companyand the charitablecompany'smembers as a body,for our auditwork,for this report,or for the opinions we
have formed.
Lorraine Curtis (Senior Statutory Auditor)
for and on behalf of Nordens Audit Limited
Statutory Auditors
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
Date: 31/10/2025
Page 7
The Africa College Foundation (Uk)
Statement of Financial Activities
for the Year Ended 31 December 2024
|
|
31.12.24 |
31.12.23 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and Grants |
|
103,429 |
190,980 |
EXPENDITURE ON |
|
|
|
Charitable activities |
|
|
|
General Fund |
|
130,471 |
74,224 |
Other expenditure |
|
- |
3,492 |
Total |
|
130,471 |
77,716 |
NET INCOME/(EXPENDITURE) |
|
(27,042) |
113,264 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
113,264 |
- |
TOTAL FUNDS CARRIED FORWARD |
|
86,222 |
113,264 |
The notes form part of these financial statements
Page 8
The Africa College Foundation (Uk)
Balance Sheet
31 December 2024
31.12.24
Unrestricted
fund
Notes
£
CURRENT ASSETS
Cash at bank
97,972
CREDITORS
Amounts falling due within one year
6
(11,750)
NET CURRENT ASSETS
86,222
TOTAL ASSETS LESS CURRENT LIABILITIES
86,222
NET ASSETS
86,222
FUNDS
7
Unrestricted funds
86,222
TOTAL FUNDS
86,222 |
31.12.23
Total
funds
£
116,303
(3,039) |
|
113,264 |
|
113,264 |
|
113,264 |
|
113,264 |
|
113,264 |
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies
subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 31/10/2025 and were signed on its behalf by:
.............................................
Ms C Bronstein - Trustee
The notes form part of these financial statements
Page 9
The Africa College Foundation (Uk)
Notes to the Financial Statements
for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
The charity’sincomearisesentirelyfrom voluntarydonationsreceivedfrom individuals,companies,and other
organisations in support of its charitable objectives.
Income from donationsis recognisedin the Statementof FinancialActivitieswhen the charityis entitledto the
funds,theamountcanbe measuredreliably,andreceiptis probable.Incomereceivedforspecificpurposes is
treated as restricted funds, while all other income is unrestricted.
Thecharitydidnotgenerateanyincomefromtradingactivities,investments,orcharitableservice provision
during the year.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use 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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.
Page 10
The Africa College Foundation (Uk)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Audit and accountancy fees |
7,937 |
330 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 31 December 2024 nor for the year
ended 31 December 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2024norfortheyear ended
31 December 2023.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
31.12.24 |
31.12.23 |
Trustees |
7 |
4 |
No employees received emoluments in excess of £60,000.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and Grants |
190,980 |
EXPENDITURE ON |
|
Charitable activities |
|
General Fund |
74,224 |
Other expenditure |
3,492 |
Total |
77,716 |
NET INCOME |
113,264 |
TOTAL FUNDS CARRIED FORWARD |
113,264 |
Page 11
The Africa College Foundation (Uk)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
PAYE and National Insurance
Other creditors
7.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
31.12.24
31.12.23
£
£
4,446
1,180
2,891
1,565
4,413
294
11,750
3,039
Net
movement
At
At 1.1.24
in funds
31.12.24
£
£
£
113,264
(27,042)
86,222
113,264
(27,042)
86,222
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
103,429
(130,471)
(27,042)
103,429
(130,471)
(27,042)
Net
movement
At
At 1.1.23
in funds
31.12.23
£
£
£
-
113,264
113,264
-
113,264
113,264 |
|
|
Page 12
The Africa College Foundation (Uk)
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
190,980
190,980 |
Resources
Movement
expended
in funds
£
£
(77,716)
113,264
(77,716)
113,264 |
|
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 1.1.23
in funds
£
£
-
86,222
-
86,222 |
At
31.12.24
£
86,222 |
|
|
86,222 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
294,409
294,409 |
Resources
Movement
expended
in funds
£
£
(208,187)
86,222
(208,187)
86,222 |
|
|
|
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 13
The Africa College Foundation (Uk)
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024 |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and Grants |
|
|
Donations |
103,429 |
190,980 |
Total incoming resources |
103,429 |
190,980 |
EXPENDITURE |
|
|
Charitable activities |
|
|
Charitable donations |
23,603 |
- |
Direct expenses |
342 |
- |
|
23,945 |
- |
Support costs |
|
|
Management |
|
|
Rent, rates and water |
- |
1,300 |
Consultancy fees |
- |
7,276 |
|
- |
8,576 |
Finance |
|
|
Bank charges |
98 |
30 |
Human resources |
|
|
Wages |
85,000 |
35,417 |
Employers national insurance |
4,839 |
- |
Pensions |
1,322 |
440 |
|
91,161 |
35,857 |
Other |
|
|
Insurance |
472 |
472 |
Telephone |
86 |
- |
Postage and stationery |
487 |
395 |
Sundries |
- |
525 |
Staff training and recruitment |
- |
22,800 |
Advertising |
1,147 |
1,550 |
Entertainment |
4,413 |
3,343 |
Travel and subsistence |
387 |
2,212 |
Subscriptions |
194 |
299 |
Software licences |
144 |
1,327 |
|
7,330 |
32,923 |
Governance costs |
|
|
Auditors' remuneration |
7,937 |
330 |
This page does not form part of the statutory financial statements
Page 14
The Africa College Foundation (Uk)
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024 |
|
|
|
31.12.24 |
31.12.23 |
|
£ |
£ |
Total resources expended |
130,471 |
77,716 |
Net (expenditure)/income |
(27,042) |
113,264 |
This page does not form part of the statutory financial statements
Page 15